Issuu

End-Aug GIR hits $104.8B, highest in 5 mos By Andrea E. San Juan

MUGSHOT FROM A HOSPITAL BED Interior Secretary Jonvic Remulla presents the official mugshot of former House Speaker Martin Romualdez during a press briefing at Camp Crame in Quezon City on Tuesday, September 8, 2026. The image shows Romualdez lying in a hospital bed with the orange PNP-CIDG detainee shirt draped over his medical gown. Authorities said the shirt could not be worn in the usual manner because of medical apparatus attached to him during the booking procedure at Cardinal Santos Medical Center in San Juan City. The hospital booking recalls previous high-profile plunder cases involving hospital detention, including those of former President Joseph Estrada and former President Gloria Macapagal-Arroyo. Romualdez was arrested Monday after the Sandiganbayan issued a warrant in connection with a P7.4-billion plunder case filed against him and three others. NONOY LACZA

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HE country’s foreign reserves, its buffer against external shocks, rose to $104.8 billion as of end-August 2026, the highest level in five months or since March 2026, data from the Bangko Sentral ng Pilipinas (BSP) showed. Preliminary data from the central bank showed that the latest gross international reserves (GIR) figure is 1.43 percent higher than the $103.32 billion recorded in endJuly 2026. Year-on-year, however, foreign reserves declined by 2.15 percent

from the $107.098 billion as of endAugust 2025. According to the central bank, the increase in reserves was mainly driven by the upward valuation adjustments in the BSP’s gold holdings due to the increase in the price of gold in the international market. The BSP’s net income from its investments abroad also contributed to the increase in reserves. These were partly offset, however, by the national government’s (NG) drawdowns on its foreign currency deposits with the central bank for external debt service. Explaining the central bank’s

net income from its investments abroad, Ruben Carlo O. Asuncion, chief economist at Union Bank of the Philippines (UBP) said: “Part of the BSP’s reserves is invested in safe foreign assets that generate interest and investment income, which can help support reserve growth over time.” On a month-on-month basis, data from the BSP showed gold holdings climbed by 9.26 percent to $19.11 billion as of end-August 2026 compared to the $17.49 billion as of end-July 2026. Gold holdings also inched up compared to the same period a year ago, by 31.61 percent from $14.52

billion as of end-August 2025. In contrast, securities, which BSP said refer to highly liquid and marketable debt securities, declined by 4.68 percent to $64.02 billion as of end-August 2026 compared to the $67.16 billion as of end-July 2026. Securities exclude investments under the Asian Bond Fund (ABF) and Bank of International Settlements Investment Pool (BISIP). In the same vein, BSP data showed currency and deposits plunged to $1.55 billion as of endAugust 2026, or 17.55 percent lower than the $1.88 billion recorded as of See “GIR,” A2

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Wednesday, September 9, 2026 Vol. 21 No. 330

P25.00 nationwide | 2 sections 20 pages | 7 DAYS A WEEK

TRIALS AND TRADITIONS As the Senate continues to navigate the impeachment proceedings against Vice President Sara Duterte, employees pause for a religious observance marking the Nativity of the Blessed Virgin Mary. Top right and bottom row: Senator-judges, prosecution members and the

defense team confer on the next steps in the impeachment proceedings on September 8, the 23rd day of the trial. No witnesses were presented as the parties discussed procedures for the proceedings, which resume on September 14. Top left: Senate employees attend Mass and offer flowers at the Senate Chapel in Pasay City on September 8 for the Feast of the Nativity of the Blessed Virgin Mary, celebrated nine months before the Feast of the Immaculate Conception on December 8. ROY DOMINGO/SPPA POOL

By Justine Xyrah Garcia

HE economy may have recovered from the pandemic but jobs have yet to catch up, with unemployment returning to post-pandemic levels in July as the labor market failed to transform fast enough, economists said.

On Tuesday, the Philippine Statistics Authority (PSA) reported 3.14 million jobless Filipinos in July, pushing the unemployment rate to 6 percent. This is the highest unemployment rate since June 2022, when the economy was still recovering from Covid-19. The latest reading also brought the January-to-July unemployment rate to 5.2 percent, significantly higher than the 4.1 percent recorded in the same period last year. The increase came even as employ-

ment grew, as more Filipinos entered the labor market than the economy could absorb. Employment rose by 3.16 million year-on-year to 49.21 million, but the labor force expanded by 3.71 million to 52.36 million. De La Salle University economist Marites M. Tiongco said this gap reflects a deeper weakness in the post-pandemic recovery: the economy has restored jobs, but has not transformed its job base enough to absorb the growing labor force. See “Jobless,” A2

PESO COULD TEST NEW LOWS IN THE NEAR TERM–ANALYSTS

HE Philippine peso could test new lows in the near term if the dollar stays strong and oil prices remain elevated, according to analysts. Experts said this after data from the Bankers Association of the Philippines (BAP) showed that the local currency fell to a fresh record low of P62.625 against the dollar on Tuesday. The rate is 3.9 centavos weaker than its P62.58 finish against the greenback on Monday. For the month of September alone, this is the fourth time the peso hit a fresh all-time low. Ruben Carlo Asuncion, chief economist at Union Bank of the Philippines (UBP), said the peso’s depreciation reflects a combination of external factors, including “elevated

oil prices, persistent inflation concerns, and higher US Treasury yields, which have supported demand for the US dollar.” Asuncion said the peso may remain under pressure in the near term as markets continue to assess developments in oil prices, global inflation and monetary policy expectations. “While further weakness cannot be ruled out, the pace and extent of any depreciation will depend largely on evolving external conditions and shifts in global risk sentiment,” the chief economist of Union Bank of the Philippines explained further. Looking ahead, Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co., said: “The peso may remain under pressure and could test new lows in the near term if the dollar See “Peso,” A2

IBPAP looks beyond US for future growth By Bless Aubrey Ogerio

OR years, the United States (US) has been the Philippine information technology and business process management (ITBPM) industry’s biggest market. Now, the industry is looking farther afield. The Information Technology and Business Process Association of the Philippines (IBPAP) is broadening its investment push, with Europe, Japan, the Middle East and AsiaPacific among the markets it wants to tap. The country remains second only to India among the world’s largest ITBPM destinations, but its lead is no longer uncontested. IBPAP previously

said South Africa, Egypt, Poland, Colombia, Costa Rica and Vietnam are expanding their presence in the global outsourcing market. Now, IBPAP, together with a coalition of advisory firms, real-estate developers, banking partners and investment-promotion agencies, has launched a coordinated initiative to attract global companies looking to establish or expand operations in the Philippines. The initiative targets companies headquartered in Australia, Japan, the Middle East and the United Kingdom, as well as fast-growing mid-market firms and organizations in banking, financial services, insurance and healthcare. See “IBPAP,” A2

PESO EXCHANGE RATES n US 62.6980 n JAPAN 0.4062 n UK 84.9746 n HK 7.9975 n CHINA 9.3426 n SINGAPORE 49.5362 n AUSTRALIA 45.2491 n EU 72.8864 n KOREA 0.0466 n SAUDI ARABIA 16.6963 Source: BSP (September 8, 2026)

A2 Wednesday, September 9, 2026

News

BusinessMirror

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HMOs’ revenue rises 42.3% to ₧2.093B in first semester

By Reine Juvierre S. Alberto

HE health maintenance organization (HMO) industry remained profitable in the first half of 2026, as total revenues grew by a fifth on higher membership fee collections. Latest data from the Insurance Commission (IC) showed that the HMO sector’s first-half net income grew by 42.29 percent to P2.093 billion from P1.471 billion in the same period a year ago. The increase came after revenues

rose by 19.99 percent year-on-year to P56.432 billion from P45.561 billion. Membership fees, which accounted for P54.818 billion of industry revenues, jumped by 19.71 percent from P45.792 billion a year earlier. Meanwhile, HMOs paid P41.227

Peso…

cover,” added Ravelas. Ravelas said, however, he does not expect a “disorderly depreciation” because the Bangko Sentral ng Pilipinas (BSP) has “adequate policy tools and reserves to manage excessive volatility.” He expects the peso to stay within the 62.6062.90 level in the near-term.

Continued from A1

stays strong and energy prices remain elevated.” The foreign exchange analyst said the peso’s direction will depend more on global developments than domestic factors. “Once we see the US dollar lose momentum, oil prices stabilize, or global risk sentiment improve, the peso should find support and gradually re-

Impact on households, businesses, markets

MIGUEL CHANCO, Chief Emerging Asia Economist at Pantheon Macroeconomics, explained to the

billion in benefits and claims during the six-month period, also up by 13.62 percent from P36.285 billion a year earlier. Total expenses likewise increased by 19.27 percent to P54.338 billion from P45.561 billion in the same period last year. “This reflects an increased utilization of health care services and the HMOs’ continued commitment to providing benefits to their members,” the IC said. IC data showed that all other key indicators improved in the first half compared to a year ago. Total assets of the industry grew by 18.75 percent year-on-year to P99.640 billion from P83.910 billion. HMOs’ invested assets, which

comprised 27.26 percent of the industry’s total assets, likewise expanded by 49.02 percent to P27.165 billion in the first half from P18.229 billion a year earlier. Total liabilities of the industry also climbed by 15.77 percent year-on-year to P83.646 billion from P72.249 billion. The IC said the industry’s performance demonstrated its financial resilience and capacity to meet its obligations. “[The Commission] remains committed to supporting its continued development to better respond to the increasing demand for healthcare services,” it added.

BusinessMirror via e-mail that the weakness of the local currency will “certainly be a burden from an economic activity standpoint” and affect consumers and businesses buying imported goods. However, he said there are bigger headwinds in play for both—such as falling confidence, weak household balance sheets, and below-average capacity utilization. “That will matter more than the pinch of a weaker peso. At most, the falling PHP is merely adding insult to already bad injuries,” Chanco explained further to this newspaper.

Chanco said it’s “quite clear” that the Philippine peso has underperformed “massively” against its peers in the region, at least over the past month or so, with most other currencies up against the US dollar, due in part to the dollar’s “downward retracement.” In separate responses to this newspaper on Monday, both Ravelas and Asuncion pointed out that the local currency was among the weaker performers compared to its peers in the Southeast Asia region in recent weeks due to the country’s reliance on imports of fuel, food and capital goods, while maintaining a persistent trade deficit. (See: https://businessmirror.com. ph/2026/09/07/peso-slide-relativelyrapid-sharp-worries-economists/) Within the trading session on Tuesday, the peso hit an intraday low of 62.675 against the greenback while its strongest point was seen at 62.48 per dollar. Andrea E. San Juan

GIR…

Continued from A1

end-July 2026. Currency and deposits include time deposits, demand deposits, and cash holdings. According to the central bank, the $104.8-billion level of foreign reserves as of end-August 2026 “provide sufficient foreign currency to meet the country’s import needs, service its external debt obligations, and serve as a buffer against external economic shocks.” Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co., said the headline annual decline “may grab attention,” but he pointed out: “The bigger story is that the Philippines continues to maintain a strong external liquidity buffer.” “The GIR remains a key source of resilience amid ongoing global economic and geopolitical uncertainties,” added Ravelas. Michael L. Ricafort, chief economist at Rizal Commercial Banking Corporation (RCBC), pointed out that for the coming months: “GIR would be a function of world gold prices for valuation of gold holdings, structural inflows of US dollars into the country such as OFW remittances, BPO revenues, foreign tourism receipts and foreign investments.” However, Ricafort explained further that these are offset by the country’s trade deficit, payment of foreign debt/obligations, investments abroad, and any intervention or smoothening of volatility in the local currency market.

Jobless…

Continued from A1

“We restored jobs faster than we transformed jobs. The Philippines has not generated enough sustained expansion in manufacturing, modern agriculture, construction, logistics, digital industries and other sectors capable of producing large numbers of higher-productivity, better-paying jobs,” Tiongco told the BusinessMirror. PSA data showed that 62.8 percent of employed Filipinos were in services in July, compared with 19.7 percent in agriculture and just 17.5 percent in industry. Tiongco said the lack of transformation in the job market mirrors the broader path of the economy since the 2022 reopening, which remained heavily reliant on consumption and services instead of stronger investment and productivity-enhancing industries. That weakness has become more visible this year as economic growth slowed to 2.8 percent in the first quarter and 2.3 percent in the second quarter. Household consumption and investment remained the biggest drags on growth, with consumption growth slowing to 2.8 percent in the second quarter from 3 percent in the first, while gross capital formation contracted by 9.2 percent, worsening from a 3.1-percent decline in the previous quarter. University of Asia and the Pacific economist Marco C. Agonia echoed Tiongco’s assessment, saying the post-pandemic recovery has failed to develop more durable and diversified sources of growth. “The economy has not grown large nor deep enough to accommodate the growing pool of young workers joining the job market. Add recent macro headwinds dampening economic performance, and the macro picture goes from steady to sputtering,” Agonia told this newspaper. Ateneo de Manila University economist Leonardo A. Lanzona Jr. also pointed to a weakness in the country’s investment-led job creation, saying investment incentives have not generated enough employment relative to the size of capital being invested. He said incentives programs under the Board of Investments, Philippine Economic Zone Authority, and Strategic Investment Priority Plan have tended to favor the scale of investments over their jobgenerating capacity---resulting in fewer jobs being created for every peso invested. “That gap compounds yearly: degree-holders’ share of the jobless rose from 26.9 percent (2020) to 35.6 percent now, Lanzona told the BusinessMirror.

Job concentration

BEYOND the weak transformation of the job market, economists flagged the concentration of economic activity in Metro Manila as another constraint on job creation. PSA data showed that among regions, Metro Manila posted the highest unemployment rate at 8.8 percent or 560,000 jobless individuals. This is a significant jump from the 5.2 percent in April 2026 and 4.7 percent in July 2025. Agonia said the spike shows the limits of relying on one region to absorb the country’s growing pool of workers, as Metro Manila’s physical constraints and slower economic growth could eventually make it harder to generate enough jobs for new entrants. “This highlights the need for developing new growth corridors and regional economies to spread out hiring activity,” he said. Tiongco agreed, saying the country needs to

IBPAP…

Continued from A1

Healthcare is among the areas where the industry sees room to expand, particularly in clinical support, revenue cycle management, health technology and patient services. The industry is likewise looking to deepen its role in artificial intelligence (AI)-enabled services across customer experience, healthcare, information technology, finance and accounting, and human resources, helping global companies adopt AI, strengthen cybersecurity and scale their operations. The broader investment push comes as the local IT-BPM sector also keeps an eye on policy developments in its largest market. Last July, Celeste Ilagan, IBPAP chief operating officer and incoming president and chief executive officer (CEO), said the industry does not expect an immediate disrup-

diversify growth beyond Metro Manila, with emerging regional cities developed as stronger centers for manufacturing, logistics, agribusiness, digital services and professional employment. She said it would be difficult to continue relying on Metro Manila to absorb a large share of the country’s growing labor force. “This requires infrastructure, reliable electricity, industrial estates, housing, public transport, skills formation and investment incentives to operate as a coordinated regional-development strategy,” she added.

Temporary relief?

WITH these structural weaknesses weighing on the labor market, economists had mixed views on whether employment can meaningfully recover in the coming months, even as the holiday season typically brings more hiring. Lanzona said any improvement from holiday hiring would likely be temporary because the pressure on the labor market is structural rather than seasonal. He said new groups of young Filipinos will continue entering the workforce each year regardless of the holiday cycle, keeping pressure on job creation. “Any holiday bump would be temporary...and only sustained labor-intensive investment would narrow the gap,” he added. Tiongco also noted that the usual seasonal boost could also be weaker this year as slower economic growth may discourage firms from making permanent hires, high borrowing costs could weigh on construction and investment, and renewed Middle East tensions could raise fuel costs and weaken household spending and business activity. “A more convincing recovery would require simultaneous improvements in manufacturing employment, construction, private investment, average hours worked, real wages and permanent wage-and-salary employment,” she added. Agonia, for his part, said seasonal hiring could still provide some support to employment figures, but a more meaningful recovery would depend on greater stability from both domestic and external shocks.

Easier business, more quality jobs

MEANWHILE, the Department of Economy, Planning, and Development (DepDev) said the country needs to improve its ease of doing business to attract more investment and generate quality jobs. “More Filipinos are participating in the labor market, which means that we need to intensify efforts to attract investments, especially those that create quality jobs. The key is to continuously improve the ease of doing business in the country,” DepDev Secretary Arsenio M. Balisacan said. He said the government needs to help workers and businesses adapt to changing economic, technological and climate-related conditions by supporting micro, small, and medium enterprises, attracting investment in high-growth industries, and expanding skills training and pathways to formal employment. This includes scaling up platforms such as AIenabled eTrabaho and the Tesda Skills Passport, strengthening links from social assistance to jobs and training, helping MSMEs adopt new technologies, and advancing reforms under the National Education and Workforce Development Plan 2026–2035. Earlier, the DepDev said unemployment could go as high as 5.8 percent this year. (See: https:// businessmirror.com.ph/2026/08/21/2026unemployment-could-be-higher-at-5-8-saysdepdev/).

tion from proposed US measures that could discourage companies from moving customer-service operations offshore. The proposed Keep Call Centers in America Act of 2025 and the HIRE Act have shown limited legislative progress, she said, although the industry is not dismissing their potential impact on Philippine outsourcing. For IBPAP, the response is not to turn away from the US but to build a wider base of markets and capabilities. “The conversation has changed. Companies no longer choose locations based solely on cost. They choose places that can deliver resilience, capability, and depth of talent,” IBPAP President and CEO Jack Madrid said. “That is where the Philippines competes today. We invite global companies ready to build their next chapter to build it with us,” he added. The industry aims to reach between $43.3 billion and $50.5 billion in annual revenue and employ 1.85 million to 2.14 million workers by 2028.

Money… Continued from A9

Meanwhile, consumer loans to residents grew by 17.1 percent in July, slower than in the previous month. Growth in credit card and motor vehicle loans softened as consumer confidence re-

mained weak. The central bank emphasized that it monitors bank lending as it serves as a key monetary policy transmission channel. Looking ahead, the BSP said it will continue to ensure that domestic liquidity conditions and bank lending conditions remain consistent with its price and financial stability objectives.

www.businessmirror.com.ph

Wednesday, September 9, 2026

Senate to ask legal Sandiganbayan summons experts on impeach Romualdez’s physicians voting threshold By Jovee Marie N. dela Cruz @joveemarie

HE Senate Impeachment Court will hear legal experts on September 16 before conducting oral arguments and voting on September 23 to resolve the dispute over the required number of votes needed to convict Vice President Sara Duterte in her impeachment trial. Presiding Officer Francis Escudero announced that the September 16 hearing will depend on the availability of invited legal experts who will be amici curiae or “friends of the court.” He said the regular proceedings would give way to the experts’ opinions if the proposed session pushes through. “We will try to schedule the calling of the amici curiae on September 16,” Escudero said. The move followed consultations among senator-judges and lawyers from both the prosecution and Duterte’s defense team during the court’s recess. Escudero treated Sen. Erwin Tulfo’s motion as an appeal and request for reconsideration of the earlier ruling that 16 votes are required for conviction, based on the Senate’s full membership of 24. Escudero emphasized that the upcoming vote will only determine the correct voting threshold and will not decide whether Duterte will ultimately be convicted or acquitted. Sen. Paolo Benigno Aquino also pointed out that the threshold issue is separate from the final judgement on the impeachment charges. The Impeachment Court will hear oral arguments from both sides on September 23 before voting on the appeal. Escudero said the prosecution and defense will

each be given equal time to present their positions. “The parties will be given a period of 15 minutes each to discuss their position on the matter,” he said. During the expert hearing, lawyers may raise questions through the presiding officer, while senator-judges will also be allowed to directly ask the invited legal experts. The process aims to help the court examine different interpretations of the Constitution and impeachment rules before making a decision. Sen ate P resident Sher w i n Gatchalian requested clarification regarding the purpose of inviting legal advisers, saying the process should be clear to both the senatorjudges and the public. Escudero explained that the experts would serve as independent advisers who could provide guidance on the complicated legal issue. “So literally translated, it is a friend of the court that we will be inviting,” Escudero said. Senator-Judge Francis Pangilinan said the invited experts could include constitutional specialists, retired Chief Justices, former Supreme Court magistrates, and other respected legal authorities. He proposed authorizing Escudero to choose the experts in consultation with the prosecution, defense, and members of the Impeachment Court. Escudero accepted the proposal and said possible names had already been discussed with both sides. However, he said the names would remain confidential until the prospective advisers confirm whether they are willing and available to participate. See “Voting,” A4

Sara asked to authenticate records submitted by banks

OUSE of Representatives prosecutors on Tuesday asked Vice President Sara Z. Duterte to authenticate subpoenaed bank records and confirm her ownership of accounts identified in the documents as they prepared to present evidence on alleged unexplained wealth, with more than 1,800 documents—including bank and insurance records obtained through court-issued subpoenas—set for marking as the prosecution organizes its evidence for Article II of the impeachment trial beginning September 14. Article II lead prosecutor Party-list Rep. Jose Manuel Tadeo Diokno of Akbayan said the prosecution submitted 104 requests for admission seeking confirmation from Duterte on whether the financial records submitted by banks were genuine and whether the accounts identified in those records belonged to her individually or jointly with other individuals. “We are asking the respondent to confirm, first, whether the bank records submitted by the banks pursuant to the subpoenae duces tecum issued by the Impeachment Court are genuine, and second, whether the bank accounts referred to in those records are owned by Vice President Sara Zimmerman Duterte, individually or jointly with others,” Diokno said. Diokno explained that the requests were limited to matters Duterte could personally verify through her own documents or by coordinating with the concerned financial institutions. He stressed that the prosecution was not asking her to admit anything that she did not know or could not confirm. The prosecutor said resolving undisputed matters through the requests for admission could help streamline the proceedings and reduce the number of

witnesses needed. He said the prosecution could avoid presenting around 15 witnesses if certain facts were acknowledged by the defense. The defense team requested additional time to study the documents and consult with Duterte before submitting its response. Defense counsel Michael Poa asked the court to grant the 15-day period provided under Rule 26, Section 2 of the Rules of Court instead of the seven days initially requested by the prosecution. Presiding Officer Sen. Francis Escudero granted the defense 15 nonextendable days to file its sworn response to the 104 requests for admission. He clarified that the additional time would not suspend the impeachment proceedings. Meanwhile, the Impeachment Court scheduled September 9 and 10 for the marking of documentary exhibits, temporarily suspending trial proceedings during those days. The hearings are expected to resume on September 14 when the prosecution begins presenting evidence related to Article II. Th e l a rg e vo l u m e o f d o c u m e nt s prompted the prosecution to request additional time for the marking process. Diokno initially asked that Wednesday, Thursday, and possibly Friday be dedicated to reviewing and identifying the financial records before they are formally introduced as evidence. Escudero approved Wednesday and Thursday for the document-marking activity, with both sessions beginning at 10 a.m. He noted that Friday may be used for budget proceedings as the Senate continues managing its legislative responsibilities alongside the impeachment trial. See “Records,” A4

By Joel R. San Juan

@jrsanjuan1573

HE Sandiganbayan Third Division has summoned the four attending physicians of former speaker and incumbent Leyte Rep. Martin Romualdez to a hearing to determine whether his plea to be placed in hospital detention at the Cardinal Santos Medical Center (CSMC) in San Juan City owing health reasons should be granted. The order stemmed from the manifestation and urgent motion filed by Romualdez on Monday asking the Third Division to allow him to remain in hospital confinement following the issuance of an arrest warrant against him for alleged plunder amounting to P7.4 billion. In h is mot ion, Romu a ldez c l a imed t hat he is conf ined at t he CSMC due to severa l hea r t a nd cerebrova sc u l a r d isea ses, d i a b e t e s , d y s l ip id e m i a , a nd hy pot hy roid ism. Romualdez also told the antigraft court that he previously underwent angioplasty procedure owing to coronary artery disease and has since required continuing monitoring and treatment. He also claimed to have been previously confined, during which irregularities found in his magnetic resonance imaging (MRI) scan examination.

In the order, the Third Division directed its Clerk of Court to issue subpoena ad testificandum to Dr. Rody Sy, Dr. Rogelio Libarnes, Dr. Kurt Allen V. Sibayan, and Dr. Rosalio P. Torres for a hearing scheduled on Thursday at 8:30 a.m. “At the outset, it must be emphasized that the custody of accused Romualdez belongs to the court,” the order said. “If there are concerns regarding the accused’s medical condition, it is only this court that can determine whether such condition affects the implementation of the warrant, the confinement of the accused at a hospital or his commitment to a jail facility,” it added. Likewise, the anti-graft court ordered Romualdez or his doctors to furnish the court during the said hearing the results of all his medical examinations. Romualdez was also ordered to

appear before the court should his condition permit. On Monday, the Third Division issued an arrest warrant against Romualdez , former Party-list Rep. Elizaldy Co of Ako Bicol, Romualdez’s personal aide Joselyn Tragua Serenio and Felicito Guevarra, president of Samchan Foreign Exchange Corporation. The arrest warrant stemmed from the complaint filed by the Office of the Ombudsman accusing them of illegally amassing wealth through kickbacks from from infrastructure and flood control projects of the government amounting to P7.4 billion. The anti-graft court also issued a hold departure order (HDO) against all the respondents. The crime of plunder is a nonbailable offense. The Philippine National PoliceCriminal Investigation and Detection Group-National Capital Region (PNP-CIDG-NCR) served the arrest warrant against Romualdez on Monday at the CSMC where the latter was also processed. T hePNP- CIDG -NRC subse quently filed its return of warrant with the Sandiganbayan confirming that the warrant of arrest has been served on Romualdez at the CSMC and stating that the latter’s physical custody and security is with the PNP-CIDG during his period of confinement. Chief Judicial Staff Officer Albert dela Cruz and Supervision Staff Office Romulo Barrozo of the Sandiganbayan Sheriff also went to the CSMC to serve the warrant following information that Romualdez is confined at the hospital.

The court officials were informed by Romualdez’s doctors that he was experiencing chest pain, and has coronary artery disease and psychological anxiety, among other medical conditions.

‘Romualdez officially a PDL’

SINCE the arrest warrant has been formally served on Romualdez on Monday night, he now a person deprived of liberty (PDL), Interior Secretary Juanito Victor Remulla said. Remu l l a sa id Romu a ldez received the warrant and was read his Miranda R ights at his hospital room. “Officially, Martin Romualdez is now in the custody of the National Police’s Criminal Investigation and Detection Group.” Remulla said Romualdez’s fingerprints were taken, and a photograph of him with the PDL T-shirt draped on his hospital gown was shot, explaining that the official was unable to stand up to wear the PDL T-shirt. As a PDL, Remulla said there were two armed guards outside the hospital room at all time. Romualdez will be escorted whenever he leaves his room, and his movement will be limited or restricted within the hospital. “There are armed guards in the hospital lobby, and there is also a mobile patrol group outside the hospital,” he said. “Martin Romualdez is a flight risk. He has two jets, two helicopters, and he has three yachts. So, he is a flight risk,” Remulla said. See “Romuadlez,” A6

Prosecutors mull putting Duterte on witness stand By Jovee Marie N. dela Cruz & Claudeth Mocon-Ciriaco

HE Hou se prosec ut ion panel in the impeachment trial of Vice President Sara Z. Duterte has announced its intention to call Duterte herself as a witness after it finishes presenting evidence for all four Articles of Impeachment. The move was disclosed by private prosecutor Lorna Kapunan during the 23rd day of the trial, signalling a major shift in the prosecution’s strategy as it seeks to place the Vice President’s own explanation at the center of the proceedings. Kapunan clarified that the prosecution was not immediately requesting the Senate Impeachment Court to subpoena Duterte.

Instead, the panel intends to complete its presentation of evidence first before deciding on the formal request for her appearance. She emphasized that Duterte’s testimony would be considered at the conclusion of the presentation of all impeachment articles. “At the end of all of these articles, we reserve the right to present the Vice President herself,” Kapunan told the court. The announcement came after discussions among public and private prosecutors regarding the direction of their case. Following their review, the prosecution decided to discontinue the presentation of the remaining w itnesses or ig ina l ly planned for the article involving alleged misuse and misappropriation of confidential funds. The decision

effectively shortened the prosecution’s planned witness presentation for that portion of the case. Although no formal motion has been filed, defense lawyer Sheila Sison expressed opposition, invoking constitutional rights, after the prosecution expressed an intent to potentially call Duterte as a witness. Sison quoted Section 17, Article 3 of the 1987 Philippine Constitution, asserting that the respondent has a fundamental right against “testimonial compulsion” or testifying against oneself. She added that the prohibition against testimonial compulsion is designed to prevent the recurrence of oppressive practices.

10 of 27 witnesses

THE prosecution initia l ly i d e nt i f ie d 2 7 w it ne s s e s for

t he conf identia l f unds ar tic le. Accord ing to K apunan, 10 w itnesses had a l ready appea red before t he cou r t, wh i le ag ree ments and stipulations involving t wo ot her w it nesses m ade their persona l appearances u n necessa r y. T he rem a i n i ng 15 w it nesses, inc lud ing t hose sc hedu led to test if y on t hat hea r ing d ay, would no longer be presented. “After a long meeting last night and towards this morning, just before this hearing, the prosecution, both public and private prosecutors, have decided to… forego your honors, not only with the witnesses subpoenaed for today, but with all the remaining 15 witnesses,” Kapunan said. See “Witness,” A6

Teodoro cites need for international security architecture

EFENSE Secretary Gilberto Teodoro Jr. on Tuesday underscored the need to build an international security architecture with human security at its core. He made this call during the first plenary session of the Seoul Defense Dialogue (SDD) 2026 in South Korea. Teodoro presented the Philippines’ perspective on building a “Collaborative Architecture for International Stability,” during the plenary session attended by international defense leaders from across regions. “The survival of the human being, the care for the human being, care for human rights, care for health, care for freedom from

dangers of natural calamities, educational opportunities for mutual understanding under a regime of freedom of thought, freedom of speech, and not state-sponsored lies and state-sponsored brainwashing,” Teodoro stressed. Joined by South Korean Defense Minister Ahn Gyu-back and Czech Republic Deputy Prime Minister and Minister of Defence Jaromír Zůna, Teodoro echoed their observations on the whole gamut of conflicts facing the world at present, which is exacerbated by the existence of devastating natural calamities. He added that these tragedies have not slowed down conflict, but have only further burdened survivors and made their future

more uncertain. “In that kind of setting, we see that there is greater urgency in order to enforce a system of norms that will curtail the behavior of aggressive actors,” the DND chief added, emphasizing that the root cause of these conflicts is aggression fueled by motive and opportunity, at the expense of smaller and archipelagic states. He explained that these countries are forced to resort to alternative pressures such as legacy defense mechanisms and institutions and coalitions with likeminded states. “Yet, the threat of conflict is present. Actual conflict is present, but the threat of war becomes

more imminent because of unconstrained and uncontrolled use of might versus right, as the adage goes,” Teodoro asserted. He reiterated the Philippine position that it would not compromise on its territorial integrity and sovereignty, would resist any aggression against Philippine territory, and would continue to uphold its role as a guardian of international law. “We will continue our defense modernization and our resilient capabilities together with likeminded partners, this in our own indigenous capabilities and in building up coalitions of likeminded nations,” the DND chief added. Rex Anthony Naval

Wednesday, September 9, 2026

www.businessmirror.com.ph

Labor groups hit ‘ayuda’ approach

By Mary Jade Jadormio

ABOR groups want a bigger shift toward decent and secure jobs as the Department of Labor and Employment (Dole) moves to cut its 2027 funding for the Tulong Panghanapbuhay sa Ating Disadvantaged Workers (Tupad) program nearly in half.

Tupad funding is proposed at P11.03 billion next year, down P10.25 billion, or 48.16 percent, from the P21.28-billion allocation under the 2026 General Appropriations Act (GA A).

Labor groups Sentro and the Labor Education and Research Network (LEARN) said the reduction should come with a stronger focus on programs that provide workers with lasting employment.

Conference on nuclear reactor technology starts By Lenie Lectura

@llectura

HE Philippines has opened the three-day Foundational Infrastructure for Responsible Use of Small Modular Reactor Technology (FIRST) Conference in Manila, the Department of Energy (DOE) said on Tuesday. Organized alongside the US Department of State and the Japan government, the event aims to build the necessary safety, technical, and institutional frameworks to introduce Small Modular Reactors (SMRs) into the country’s energy mix. This, the agency said, aligns with President Marcos’s directive to lower electricity costs and enhance energy security. SMRs offer the necessary flexible deployment options required to meet the dispersed energy demands of Luzon, the Visayas, and Mindanao. This initiative supports the Philippine Nuclear Energy Program’s goal of reaching at least 1,200 megawatts (MW) of nuclear capacity by 2032, and expanding to 4,800 MW by 2050. It also lays the groundwork for low-carbon, baseline technologies to complement the nation’s growing renewable energy capacity. Meanwhile, the DOE and the Department of Tourism (DOT) are providing practical support to help tourism establishments reduce energy costs while maintaining service quality. The DOE said a total of 46 tourism establishments in Metro Manila have undergone on-ground energy assessments to identify cost-saving and efficiency opportunities. This initiative has reached 147 representatives across tourism businesses, government agencies, and energy practitioners through technical assistance and financing access. “Energy is a significant operating cost for hotels, resorts, and other tourism establishments. Helping them use power more efficiently means helping them mange cost while maintaining the comfort and quality that guests expect. Our goal is to make energy efficiency practical and accessible by connecting establishments with the support they need to invest in improvements,” Energy Secretary Sharon Garin said. The initiative is anchored on the Memorandum of Agreement signed by the DOE and DOT on March 9, 2026 and supports the implementation of Republic Act No. 1285, or the Energy Efficiency and Conservation Act, its Implementing Rules and Regulations, and Department Circular DC204-05-01, which guides DOE support for and monitoring of Designated Establishments toward more efficient and responsible energy use.

“Temporary measures cannot substitute for decent work,” the groups said in a joint statement. Tupad had served 1.48 million beneficiaries as of August 2026, and Dole is targeting 672,776 beneficiaries for the program in 2027. The labor agency’s proposed budget for livelihood and emergency employment is also falling, from P27.91 billion in 2026 to P19.31 billion next year, a 30.8-percent reduction. Dole said its 2027 priorities include transforming employment assistance into “sustainable employment, entrepreneurship, and livelihood opportunities through structured graduation pathway.” Meanwhile, funding for the Government Internship Program (GIP) is set to jump 176.78 percent to P3.21 billion from P1.16 billion.

Funding for the Dole Integrated Livelihood Program (DILP) will move lower by 17.18 percent to P2.23 billion from P2.69 billion. Sentro and LEARN said Tupad shou ld be rev iewed a nd redesigned as “genuine public employment” aligned with the government’s industrial and development policies. They also called for stronger funding for labor inspection, labor standards enforcement, labor justice, collective bargaining and wage policies. Dole is increasing funding for some of these areas, with the Labor Laws Compliance System (LLCS) allocation rising 6.58 percent to P876.84 million. Promotion of rights at work and labor standards will get P53.03 million, up 3.64 percent, while

the National Wages and Productivity Commission (NWPC) overall allocation rises 9.36 percent to P246.11 million. However, the Wage Regulatory Program is facing an 11.64-percent cut to P58.12 million. “We need a proactive government, and a competent DOLE, whose objective is the creation of decent and secure employment, not temporary measures,” Sentro and LEARN said in a joint statement. Dole is seeking P20.95 billion under the 2027 National Expenditure Program (NEP), 30.11 percent below its P29.98-billion 2026 GAA allocation. Across Dole and its attached agencies, the proposed budget totals P47.06 billion, 6.03 percent above the 2026 NEP but 23.08 percent below the 2026 GAA.

LRT Cavite extension project gets ₧1.17-B in proposed 2027 natl government budget By Jovee Marie N. dela Cruz @joveemarie

HE proposed 2027 General Appropriations Act has included a P1.17-billion allocation for the long-delayed Light Rail Transit Line 1 (LRT-1) Cavite Extension Project, saying the increased funding will help accelerate efforts to complete the much-needed railway expansion. For the LRT-1 Cavite Extension Project, Las Piñas Rep. Mark Anthony Santos said the proposed 2027 allocation stands at P1.17 billion under the national infrastructure budget, higher than the P799.64 million allocation in 2026. The project covers an 11.7-kilometer extension from Baclaran to Niog Station in Bacoor, Cavite, with remaining stations serving areas in Las Piñas, Zapote, and Niog. Santos expressed appreciation to Marcos for prioritizing the completion of critical railway projects, while urging implementing agen-

cies to ensure the efficient use of funds and the immediate resolution of remaining construction hurdles. Originally estimated at P64.92 billion, the LRT-1 Cavite Extension began construction in 2019. Phase 1 was initially targeted for completion in 2022 but faced delays due to COVID-19 restrictions, resulting in additional project costs. Santos noted that unresolved right-of-way concerns remained one of the major challenges affecting the project. Despite discussions between the Department of Transportation (DOTr) and Villar-affiliated companies, including Fine Properties Inc. and Villar Land Holdings Inc., a critical Right-of-Way Usage Agreement had yet to be finalized, preventing contractors from fully proceeding with affected civil works. The DOTr and the Villar Group are expected to sign an agreement on September 10 to address the land access issue that has delayed construction of a station in Las Piñas.

According to the DOTr, the agreement will allow the government to gain access to the property needed for the railway station. The site, along with an adjacent property, had been tied to a mortgage with China Banking Corp., restricting government access. Under the proposed arrangement, the Villar Group will exchange the encumbered property for another parcel already approved by China Bank, allowing the project to move forward. Santos emphasized that the LRT-1 Cavite Extension is not only a major infrastructure investment but also a vital transpor t at ion solut ion for t housands of commuters traveling between Parañaque, Las Piñas, and Cavite. “The people of Las Piñas and our neighboring communities have waited long enough. We must now turn these commitments into actual construction and finally deliver the transportation relief our commuters urgently need,” Santos said.

Bukidnon’s coffee industry gets ₧50-M

HE government has earmarked P50 million to support the development of Bukidnon’s coffee industry, Executive Secretary Ralph Recto said on Tuesday. In a statement, Recto said the funding will be released through the Local Government Support Fund (LGSF). Recto made the statement following his recent discussions with local and indigenous coffee farmers in the province. “ Agad na tumugon si Pangulong Ferdinand R. Marcos Jr. s a pangangailangan ng ating [President Marcos immediately responded to the needs of our] coffee farmers. Ang bilin ng Pangulo ay suportahan natin sila mula punla hanggang merkado upang lumaki ang kanilang ani at kita [The President’s directive is for us to support them from seed to market so they can increase their harvest and income],” Recto said. The LGSF allocation will finance the purchase of specialty coffee seedlings, agricultural inputs such as parchment and chicken manure, and materials for establishing nurseries, including nets, plastic bags, hoses, and plastic drums, Recto said. The assistance is part of the adminis-

Records. . . Continued from A3

The defense agreed to participate in the marking of documents but expressed concern about having enough time to examine the extensive records before the prosecution’s presentation. Poa requested

tration’s broader efforts to strengthen the domestic coffee industry, with P400.54 million also proposed to be allocated to the Department of Agriculture under the 2027 National Expenditure Program for coffee development. “President Marcos is building a stronger Philippine coffee industry from the ground up. By investing in seedlings, nurseries, farm inputs, and market access, we can reduce imports, raise farmers’ incomes, and make Philippine coffee more competitive abroad,” Recto said. During his September 4 visit to Bukidnon, Recto, together with Sen. Juan Miguel Zubiri and local officials, met with coffee growers, including Indigenous farmers, at a municipal farm in barangay Salawagan in Quezon town. He said the province has the potential to become a major coffee-producing area given its land, climate, and hardworking farmers. “Bukidnon has the land, climate, and hardworking farmers needed to become a major coffee-producing province. The government will help provide the investments and infrastructure necessary to turn that potential into better livelihoods and a globally competitive industry,” he said.

Bukidnon aims to increase coffee production by 200 percent by planting 10,000 hectares of Arabica coffee and achieving an average yield of 1 kilogram of beans per tree per year. The province also targets exporting highquality specialty coffee within the next decade by improving farming practices, expanding market access, and developing a sustainable and reliable value chain from production to processing and manufacturing. To support these goals, the provincial government plans to establish nurseries in its component local governments, including two facilities in barangay Kibenton in Impasugong and barangay Bangcud in Malaybalay City. It will also assist farmer cooperatives and associations in establishing or upgrading nurseries in Talakag, Impasugong, Lantapan, Valencia City, and Pangantucan. Recto said the national government would continue working with Bukidnon’s local governments to address infrastructure gaps, including the need for farm-to-market roads, to make it easier for farmers to bring their produce to commercial markets.

at least two weeks of preparation and offered to adjust the defense’s own schedule to accommodate the request. Escudero maintained the September 14 hearing date, explaining that the court’s available schedule was affected by Senate budget deliberations. He said the court would consider flexible arrangements regarding witness presentation and

cross-examination to maximize available hearing time. The Senate Impeachment Court also announced longer hearing schedules in October to accommodate the proceedings. Full-day hearings are scheduled for October 1 and 2, October 5 to 9, and October 12 to 15 before the trial pauses for budget deliberations. Jovee Marie N. dela Cruz

Sam Medenilla with PNA

Group: Low farmgate hog prices due to imports By Ada Pelonia @adapelonia

GRICULTURE advocacy group Sinag on Tuesday reiterated that the influx of pork imports triggered the slump in liveweight hog prices. Sinag Executive Director Jayson Cainglet made the statement after the Department of Agriculture (DA) claimed that fears of another African swine fever (ASF) outbreak ahead of the rainy season propelled piggeries to sell their hogs earlier than planned, pushing down farmgate prices. The DA described this “fastbreak” as the main reason behind the decline in farmgate prices rather than a surge in pork imports. Citing Mindanao, the agency noted that hog prices also fell in the region despite little imported pork entering the region. “We reaffirm our position: the unprecedented level of pork imports over the past two years, under a reduced tariff regime, is the single biggest factor behind the steep drop in farmgate prices,” Cainglet said. “Instead of blaming local hog raisers for a crisis that they did not cause, the government must confront the policies that have allowed cheap imported pork to flood the domestic market and put Filipino producers at a severe disadvantage,” he added. Industry data showed that the average liveweight price of hogs in Luzon stood at a low of P153.72 per kilo in August, while P131.66 per kilo in Visayas and Mindanao. This was further lower than the P162.16 per kilo in July for Luzon and P131.98 per kilo for Visayas and Mindanao. “Our farmers are not the problem. They are bearing the cost of policies that have failed to protect and strengthen domestic food production and rural livelihoods,” Cainglet said. “Local farmers deserve fair farmgate prices, meaningful support, and policies that protect their livelihoods and ensure the country’s food security.” Figures from the Bureau of Animal Industry (BAI) indicated that pork imports reached 541,405 metric tons as of July, from last year’s 490,825 MT. This year, BAI forecasts pork shipments to decline by around 50,000 MT from the 851,760 MT in 2025 owing to the increased local output and higher volume of imports last year by food processors.

Voting. . . Continued from A3

Senator-Judge Pia Cayetano called for experts who could represent different legal perspectives and questioned whether the court had the authority to revisit the earlier ruling. Escudero said those concerns could be raised during the expert consultation and acknowledged that there were differing views regarding Tulfo’s appeal. Meanwhile, Tulfo challenged the court to clarify who should be counted when determining the number of votes needed for conviction. He questioned whether absent senator-judges should still be included in the total membership of the Senate, warning that a fixed 24-vote basis could lead to what he described as an “acquittal by default.” Tulfo said his concern was not to make conviction easier but to determine the proper interpretation of “all members” of the Senate. “I’m not seeking to lower the requirement. My question now is very basic. When we refer to all members, who exactly are we counting?” he asked. The senator cited previous Supreme Court decisions involving Senate membership and quorum, arguing that some members may be beyond the Senate’s authority due to medical leave, detention, or other circumstances. He warned that if enough senator-judges cannot participate, the impeachment process could become impossible despite the evidence presented. “I recognize that impeaching an official was deliberately made difficult, and this intention should be respected. However, difficulty is not the same as impossibility,” Tulfo said. He added that constitutional accountability should not be defeated simply because some members are unable to participate in the proceedings.

Wednesday, September 9, 2026

DOE: NGCP pledges to complete Visayas ancillary service deals this month By Lenie Lectura

@llectura

HE National Grid Corporation of the Philippines (NGCP) has committed to finalize pending ancillary service contracts, which include adding battery capacity to stabilize the Visayas grid, according to the Department of Energy (DOE).

“The DOE has directed the NGCP to execute the outstanding ancillary service contracts

required by the Visayas grid, and I think they have committed to finish this within the month al-

ready,” said DOE Secretary Sharon Garin. Ancillary service contracts are agreements between the system operator and the power producer meant to secure backup support, balance electricity supply and demand, and maintain the stable operation of the power grid. The DOE has been working with power companies to deploy 253 megawatts of battery storage across Cebu, Panay, Leyte, and Negros—some facilities are already prepared to support the Visayas grid immediately. On Tuesday, the NGCP again placed Visayas and Mindanao on red and yellow alerts. As of 1 p.m., the red alert is

hoisted over Visayas from 2 p.m. to 10 p.m. while the yellow alert is up from 1 p.m. to 2 p.m. and from 10 p.m. to 11 p.m. Peak power demand was registered at 2,589 MW exceeding available capacity of 2,258MW. There are eight power plants are on forced outage this month, 4 plants since August 2026, 1 plant since July, 2 plants since June, 7 plants since May, 3 plants since 2025, 2 plants since 2024, 2 plants since 2023, and 1 plant since 2021, while 14 plants are running on derated capacities, for a total of 790.7MW unavailable to the grid. The factor/s that contributed to the extension of red and

yellow alert declarations in the Visayas grid: n Increase in forecasted system demand by around 100MW. n No power import from Mindanao grid. A red alert status is issued when power supply is insufficient to meet consumer demand and the transmission grid ’s regulating requirement. A yellow alert is issued when the operating margin is insufficient to meet the transmission grid’s contingency requirement. In Mindanao, the red alert took effect from 1 p.m. to 4 p.m. and from 5 p.m. to 9 p.m. The yellow alert is implemented from 12 noon

to 1 p.m., 4 p.m. to 5 p.m., and 9 p.m. to 10 p.m. Mindanao’s available capacity stood at 2,673MW as against a peak demand of 2,639MW. According to the NGCP, there are 10 plants are on forced outage this month, 7 plants since August, 4 plants since July, 1 plant since June, 2 plants since January, 1 plant since 2025, and 1 plant since 2024, while 5 plants are running on derated capacities, for a total of 763.6MW unavailable to the grid. The NGCP cited the tripping of Minergy Coal U2 (50MW) and increase in forecasted system demand by around 100MW as factors that contributed to the red and yellow alerts.

MMDA GM Torre Comelec: Cops deployed as BARMM Belmonte: Quezon City remains undisputed ‘green lung’ of MM takes 1-month election materials reach municipalities leave over busway violation By Mary Jade Jadormio

By Claudeth Mocon-Ciriaco @claudethmc3

ETROPOLITAN Manila Development Authority (MMDA) General Manager Nicolas Torre III has volunteered to take a one-month leave from public office effective September 8, Chairman Romando Artes confirmed on Tuesday. Torre’s controversy stemmed after his vehicle was caught using the busway at Epifanio delos Santos Avenue went viral. He admitted he was a passenger inside the vehicle and stated they used the lane to check on a traffic buildup caused by a vehicular accident. Later, investigations uncovered that Torre had installed MMDA logos, name identifiers, and blinkers on his personal car to make it look like an official government patrol vehicle. “I have full trust and confidence in GM Torre as far as his work is concerned. The MMDA respects Gen. Torre’s decision and wishes him well during his period of leave to give him sufficient time to reflect,” Artes said. He noted that Torre contributes immensely to the work at the MMDA, assigned to oversee the day-to-day operations and carry out the mandates of the Authority. “His commitment to public service and valuable contributions have greatly supported the leadership and administration of the MMDA,” he added. As to Torre’s case, Artes said, he is leaving the investigation to the Land Transportation Office. “No official, regardless of position or rank, is exempt from traffic laws and policies enforced to maintain order on major thoroughfares,” the MMDA chief stressed. He assured that the agency remains fully committed to the strict enforcement of traffic rules and regulations, public accountability, and continuous delivery of public service mandates. “MMDA operations will remain unhampered and committed to working together with dedicated public servants in advancing the welfare of the people and ensuring the effective delivery of public service,” he said.

LECTION materials are now in municipalities across the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), with 808 police personnel deployed to secure preparations for the polls, according to the Commission on Elections (Comelec). Among those deployed from Region 12 are 334 Special Election Boards (SEBs), forming part of the police contingent tasked with helping secure the electoral preparations. Comelec Chairman George Erwin M. Garcia said distribution from election hubs to municipalities remains ongoing, with ballots going to city treasurers and other election paraphernalia being delivered to local Comelec offices. “The deployment from the hubs to the municipalities is ongoing, with the ballots being delivered to the city treasurers, while

all the other election paraphernalia are being brought to the local Comelec offices,”Garcia said. Comelec wants distribution completed by Sept. 8 so election officers and teachers can prepare for the final testing and sealing set on Sept. 12. Garcia said preparations will cover all 5,212 polling precincts across BARMM ahead of the final testing and sealing. Police deployment is proceeding alongside the movement of election materials as authorities brace for security challenges during the electoral process. Garcia warned against treating the number of election-related incidents as a stand-alone measure of peace and order in the region. “Peace and order should not really be measured by one election-related incident, whatever others may say, because that one incident involved the interim chief minister,” Garcia said.

BARMM has recorded only one electionrelated incident so far, a figure Garcia said authorities can be proud of but should not use as assurance that the polls will remain peaceful. “We should be proud that there is only one incident in the entire Bangsamoro, but that is not enough,” Garcia said. What matters now, according to the poll body chief, is whether security forces are positioned properly and can keep the situation under control throughout voting and the completion of the election. “What is important is whether the forces are properly deployed and whether we can maintain a peaceful election until election day and until the election is finished,” Garcia said. Comelec is consequently pushing to finish the distribution of election materials while police deployment continues ahead of the final testing and sealing.

Expanded national nutrition program has strong anti-stunting measures By Butch Fernandez @butchfBM

N expanded national nutrition program, with a more proactive approach to stunting, is on track to passage in the Senate after the plenary accepted amendments by Senate Minority Leader Alan Peter Cayetano, one of the chief advocates of the bill. Provisions requiring earlier detection, regular monitoring, and targeted interventions for children at risk were among the amendments to Senate Bill No. 2272, or the Expanded National Nutrition Program Act, that were read at Monday’s Senate session following Cayetano’s interpellation of the measure in a previous plenary session. Senate President Sherwin Gatchalian commended Cayetano for his advocacy against child stunting, while bill sponsor Senator Paulo Benigno “Bam” Aquino thanked him for the proposed changes, saying the amendments were “really making this bill so much better.” The amendments would explicitly recognize stunting as a critical national

health and education concern, while common definitions of stunting, severe acute malnutrition, and other relevant nutrition terms, as well as a common measurement system will be adopted. This would allow government agencies to work from the same standards when implementing interventions and setting targets and assessing outcomes. The amendments would also establish a National Anti-Stunting Action Plan, with areas facing high stunting and food insecurity prioritized for technical and financial assistance. A Nutrition and Growth Monitoring Program would likewise regularly track children’s weight, height or length and other nutrition indicators. Local Government Units would play a central role in implementing the measure with Barangay Health Workers, Barangay Nutrition Scholars and other trained personnel would identify children who are undernourished, stunted or at risk and ensure their referral, intervention and follow-up. The proposal also reflects Cayetano’s

push to build on Taguig City’s integrated nutrition, health monitoring and physical activity practices. Schools would likewise conduct regular height and weight measurements and nutrition assessments of school-age children. The proposal puts particular focus on the first 1,000 days of life, from conception through the first 24 months, and provides specific interventions for children who are stunted or at risk, including feeding support, complementary food, Ready-to-Use Therapeutic Food, and Vitamin A and zinc supplementation. The senator had earlier sought a shift from simply measuring the prevalence of stunting to identifying the specific children who need help. He also urged lawmakers to make the bill specific on interventions that can already be implemented. “When we cannot be specific, let’s be general. Anything that we cannot specify, we’ll talk about it in general. But anything that we can specify, [let’s work on it] to ensure the success of this bill,” he said.

DepEd: Students show double-digit score increases in PISA 2025

DUCATION Secretary Juan Edgardo “ S o n ny ” A n g a r a o n Tu e s d ay announced that the Philippines’ per formance in the Programme for International Student Assessment (PISA) 2025 showed significant gains across all three areas: reading, mathematics and science. The Philippines recorded a mean score of 373 in science, 371 in mathematics and 367 in reading—up by 17 points, 16 points and 20 points, respectively, from the country’s 2022 results. Angara, who presented the results during the national results launch at Caloocan City Science High School, said that this achievement mark a notable step forward in the administration of President Ferdinand R. Marcos Jr.’s efforts to improve learning outcomes. More Filipino learners also reached Level 2 or higher, the baseline proficiency level measured by PISA. The proportion increased from 23 percent to 32 percent in science, from 16 percent to

21 percent in mathematics, and from 24 percent to 31 percent in reading. From its mean score, the Philippines outranked 14 participating countries in science, 16 countries in mathematics, and 18 countries in reading. “This is a significant achievement for our learners and for the entire Philippine education system ...But more than the numbers, we are seeing evidence that our learners are capable of making real and meaningful progress,” Angara said. Angara said the results should encourage the country to build on the gains while keeping its focus on learners who continue to struggle. “We should be proud of how far our learners and teachers have come, but we should be even more determined about how much farther we can go,” Angara said. The Organisation for Economic Cooperation and Development (OECD) 10-year trend analysis also shows that the Philippines

is the fastest improving country in terms of reading performance. The OECD, likewise, identified the Philippines among countries with notable improvement in mathematics. In science, the Philippines recorded a positive long-term trend despite an overall decline in science performance globally. “My warmest congratulations to the teachers and school leaders of the Philippines because what you have achieved in this latest round of OECD’s PISA assessment is not just good news for the Philippines, it’s a story that deserves to be noticed far beyond your borders,” OECD Director for Education and Skills Andreas Schleicher said. Angara said the gains from the PISA results reflect the collective work being done across the education system—from teachers and school leaders to parents, local governments and other partners. The PISA presentation also highlighted the role of school readiness, parents, local

government units and private sector partners in the country’s performance, underscoring that improving education is a shared responsibility. OECD Policy Analyst Rodrigo Castañeda Valle also provided perspectives on the Philippine results and global education trends. Despite the encouraging results, DepEd said the latest PISA performance also highlights the work that remains. The Department’s next priorities include addressing equity, while sustaining reforms aimed at improving learning outcomes and supporting teachers and schools. DepEd will also continue working with education partners to promote the responsible use of digital technology and address challenges such as cyberbullying and its effects on learning. Angara said the country’s improved PISA performance should be seen as a starting point for an even more ambitious push to improve learning for every Filipino child. Claudeth Mocon-Ciriaco

By Jonathan L. Mayuga @jonlmayuga

AYOR Joy Belmonte on Tuesday said Quezon City remains the undisputed “green lung” of what he described as an otherwise suffocating metropolis. In her welcome remarks during the kickoff ceremony of the ASEAN Heritage Parks Forum 2026 at the Seda Vertis in Quezon City, Belmonte lauded the country’s hosting of the international forum. “Magandang umaga sa ating lahat . Good morning, everyone. Welcome to Quezon City. We are deeply honored that our city was chosen to host this first-ever AHP Forum, held under the Philippines’ ASEAN Chairship,” she said. Belmonte said what makes the forum different from the technical conferences that came before it is simple: it puts people first. It recognizes that conservation does not live in laws or boundary lines. It lives in the hands of the communities who guard these forests every day,” she said. The Philippines is proud to host 14 of the 64 parks, among the highest of any ASEAN member state, she noted. “From Mt. Apo to the Tubbataha Reefs, each site represents a promise our government has made to protect what is irreplaceable. But you may ask: why is a forum on wilderness and protected areas being held here, in the middle of the Philippines’ most populous urban center?” she asked. “Today, Quezon City remains the undisputed green lung of an otherwise suffocating metropolis. And we strive to protect the dream that brought our city to life in the first place. This is why climate action and environmental stewardship are at the core

of our Leadership,” she said. According to Belmonte, since declaring a Climate Emergency in 2019, Quezon City had dedicated 21% percent of our city’s budget to environmental resilience, setting a firm target of achieving net-zero emissions by the year 2050. “Part of this commitment is our One Million Trees initiative. Rooted in our Enhanced Local Climate Change Action Plan, the initiative supports our city’s development of a comprehensive green corridor network and the implementation of an urban biodiversity strategy,” she said. Moreover, Belmonte said the local government prioritizes native species suited to our local soil, climate, and elevation conditions, including edible and fruit-bearing native trees that can contribute to urban food security. “We also make sure that our restoration efforts do not introduce new ecological threats. “Today, more than 30 percent of Quezon City’s land area consists of green spaces. We have inventoried and planted over 600,000 trees under this program—more than halfway toward our target towards 2030,” she said. According to Belmonte, the Quezon City built and rehabilitated over 340 parks and open spaces across the city, including the complete ecological restoration of the city’s former waste disposal facility in Barangay Payatas— which was reborn as a vibrant eco-park and public bike trail, and the protection of the La Mesa Watershed and Ecopark, one of the remaining forest ecosystems in Metro Manila. See “Belmonte,” A6

Wednesday, September 9, 2026

DA deploys 6K extension personnel under ₧2.6-billion REACH program

By Ada Pelonia

gaps in geographically isolated, disadvantaged, and climate-vulnerable communities. “These limitations have hindered the sector’s ability to fully realize opportunities for increased productivity, crop diversification, sustainable agriculture and fisheries development, and rural enterprise growth, highlighting the need for a more responsive and accessible extension system.”

As such, the DA operationalizes the DA-REACH until 2028 to enhance its existing extension mandate and complement the devolved extension functions of local government units (LGUs). Implemented on a staggered basis over three years, the agency said the first phase will focus on site identification, profiling and selection of extension personnel, and capacity building. The second phase will focus on the deployment of trained extension personnel, and capacity building and community support interventions. Under AO 19, the agency will deploy 6,000 personnel through the existing pool of plantilla, contract of service (COS), and job order (JO) personnel within the DA. The DA proposed around P2.6 billion for the program’s initial threeyear implementation, funded by its banner programs, the Agricultural Training Institute (ATI), and other authorized sources.

The program aims to deliver a raft of interventions to improve productivity, climate resilience, and post-harvest and value chain systems while accelerating the adoption of modern agricultural technologies and knowledge among farming and fishing communities. Without prejudice to the agricultural extension functions devolved to LGUs, the DA said this seeks to foster a “more responsive, inclusive, coordinated, and technology-driven extension system.” Priority areas of implementation include, but are not limited to, Geographically Isolated and Disadvantaged Areas (GIDAs); small island municipalities; climate-vulnerable communities; fourthto fifth- income class municipalities. Also included are areas with limited Agricultural Extension Worker (AEW) capacity relative to the registered farmers and fisherfolk in the RSBSA, NCFRS, and FishR; as well as those with high potential for agri-entrepreneurship and value chain integration.

However, the DILG chief said they will file a motion to place Romualdez under the care of the PNP General Hospital in Camp Crame. “We will give his doctors visitation and the right to check on him.” The motion, he said, will be filed later Tuesday or Wednesday. The DILG chief said the PNP General Hospital is capable of taking care of Romualdez. The hospital management, Remulla said, reported that sometime in July, Romualdez

suffered a mild stroke or cerebrovascular accident. Remulla said only immediate family members, his lawyer, and physicians will be allowed to visit Romualdez, even when he is transferred to the PNP General Hospital. Remulla said the arrest was done without any instruction from Malacañang or the Office of the Ombudsman. The DILG chief said the arrest effected in the case of Romualdez is not personal, noting that even the President did not intervene to stop the arrest.

“They [Marcos and Romualdez] are not only cousins. They are brothers. President Marcos has no brother and the former speaker is like a brother to him,” Remulla said. He added that Romualdez, is his fraternity brother in the University of the Philippines’s Upsilon Sigma Phi, adding that even his brother, Ombudsman Jesus Crispin Remulla, was very close to the former speaker. Remulla did not say however that the late President Ferdinand E. Marcos and former Sen. Benigno Aquino Jr. were also Upsilon Sigma Phi brothers.

area to recycle stormwater runoff for local park irrigation,” she bared. Moreover, she said the Quezon City Hall lagoon will be converted into a sunken garden that doubles as a detention pond and will also serve as a functional space for recreation and assembly, with a large open natural lawn with amphitheater seating. Belmonte said that none of these naturebased solutions can be sustained without the people who live alongside them. “Our urban agriculture network is a testament to this collaborative stewardship. We have established over 1,400 urban farms across Quezon City, securing fresh,

accessible food sources while providing sustainable livelihoods for more than 44,000 local urban farmers. To close the organic waste loop, we operate biodigesters across our markets, urban farms, and barangays—processing food waste into clean biogas that our barangays use during climate emergencies,” she said. “Crucially, we believe in giving utmost dignity to those who protect our environment. We have formally employed residents from informal settler communities as 'resource collectors'—trained in proper waste collection and handling, and leading our cleanup operations across 130

kilometers of our river systems. We see this same transformation at our closed disposal facility in Payatas, which is now home to the country’s first Textile Circularity Hub—with mothers from the community trained and employed as artisans, who weave textile waste into fabric for high-end fashion creations,” she added. Belmonte said that to face the monumental task of conserving the region’s invaluable natural heritage, active, protective care across borders is needed, recognizing that what happens to the forests and waters of one country directly impacts the ecological security of the next.

@adapelonia

HE Department of Agriculture (DA) earmarked P2.6 billion to implement a program that strengthens extension services at the grassroots level to boost the farm sector’s growth. Agriculture Secretary Francisco Tiu Laurel Jr. signed Administrative Order (AO) 19, which outlined the implementing guidelines of its program dubbed the Deployment and Advancement of Responsive Extension on Agriculture for Community Holistic Development (DA-REACH). This, after the DA noted that the extension worker-to-farmer ratio reached 1:499, creating systemic

Romualdez. . . Continued from A3

“We will be doing ever ything as a preventive measure to ensure his containment here,” says Remulla. According to Remulla, both the former Speaker’s physician and the PNP agreed that Romualdez’s condition is unstable. “As soon as he is fit and able to go to court, we will escort him and bring him to court,” Remulla said.

Belmonte. . . Continued from A5

Belmonte added that on top of these initiatives, the local government of Quezon City is actively weaving nature into the physical fabric of the metropolis. “Under our Drainage Master Plan, we are shifting from single-purpose concrete infrastructure to multi-purpose, natureintegrated systems. For instance, we have constructed a dedicated retention pond at our central park, the Quezon Memorial Circle, which acts as a natural catchment

Construction material wholesale prices rise 3.6% in August

HOLESALE prices of construction materials further increased in August, according to new data from the Philippine Statistics Authority (PSA). Data from the Construction Materials Wholesale Price Index (CMWPI) showed prices rising 3.6 percent in August from 3.5 percent in July, reversing the 0.1 percent contraction recorded a year earlier. The latest reading brought the yearto-date average growth in wholesale construction material prices to 2.2 percent. The faster growth was mainly driven by concrete products, whose index rose 5.4 percent year-on-year in August, up from 5.2 percent in July, the PSA said. Several other commodity groups also posted faster annual price increases during the month. These included hardware, which rose 0.5 percent from 0.3 percent; plywood, 0.5 percent from 0.4 percent; lumber, 1.1

Witness. . . Continued from A3

“In lieu of presenting 15 other witnesses, we will be presenting the Vice President herself,” Kapunan stated. However, she later clarified that this would not happen immediately and would only be considered after the prosecution completes the presentation of all four impeachment articles. Among those affected by the decision were Police Maj. Jovelyn Magay, Sunshine Fajarda, and Bresilio Sabaldan, who had been scheduled to appear before the impeachment court. Kapunan confirmed that their testimonies would no longer be part of the prosecution’s presentation for the confidential funds allegations. Explaining the change in strategy, Kapunan argued that the evidence already presented by witnesses and documents pointed towards the need to hear directly from Duterte. She stated that the testimonies and records introduced during the proceedings connected various issues under examination to the vice president, making her own response relevant to the case. Kapunan used a chess analogy to describe the relationship between the witnesses and the subject of the allegations, comparing the different pieces of evidence to chess pieces that ultimately point towards one accountable individual. She also highlighted testimony from Land Bank of the Philippines witnesses, which the prosecution said established the existence and withdrawal of confidential funds.

Potential testimony

THE prosecution maintained that Duter te’s potential testimony would not be limited to the confidential funds allegations. Kapunan explained that her appearance could also be relevant to the other impeachment articles involving alleged grave threats, unexplained wealth, and bribery. These issues remain part of the broader accusations being considered by the impeachment court.

percent from 0.9 percent; and G.I. sheets, 1.1 percent from 0.4 percent. Prices of reinforcing steel also accelerated to 2.4 percent from 2.2 percent, while structural steel increased 3.8 percent from 3.7 percent. Tileworks posted a 2.2 percent annual increase, up from 2 percent in July, while plumbing fixtures and accessories and waterworks rose 0.8 percent from 0.5 percent. Fuels and lubricants recorded the sharpest acceleration among the major commodity groups, with annual growth reaching 8.1 percent in August from 5.7 percent in July. The increases came despite slower price growth in some construction materials. The annual growth of the sand and gravel index eased to 5 percent from 5.1 percent, while PVC pipes slowed to 0.2 percent from 0.8 percent in July. Justine Xyrah Garcia

As the trial moves forward, the prosecution is preparing to present its case on unexplained wealth, which it expects to require more time compared with the bribery allegations. House lead prosecutor Batangas Rep. Gerville Luistro explained that the prosecution’s pre-trial planning showed a larger number of witnesses and documentary evidence would be needed for the unexplained wealth article. “I think it is reflected in our pre-trial brief that the prosecution requested more trial days for the unexplained wealth case compared to the bribery case,” Luistro said, explaining that additional evidence would be required for the Article II charges compared with the bribery allegations. The unexplained wealth allegation focuses on claims that Duterte accumulated assets allegedly disproportionate to her declared income and failed to fully disclose certain financial interests in her Statements of Assets, Liabilities and Net Worth. The prosecution plans to examine financial documents, including bank records, taxrelated information, and other materials, as part of its presentation. Luistro emphasized that the decision to present unexplained wealth ahead of bribery does not indicate that one article is stronger than another. “These are four equally strong articles of impeachment,” she said, explaining that the order was adjusted based on witness availability and other practical considerations. The Senate impeachment court also reminded the prosecution that it would not immediately consider Article I completely closed because additional witnesses could still be called if necessary. The court explained that it would determine whether further testimony would be required after reviewing the evidence presented by both sides. The prosecution accepted the court’s guidance while maintaining its reservation to call Duterte and an amicus curiae who could assist the court regarding constitutional issues involving impeachment, public officers, and public accountability.

TheWorld

Editor: Lyn Resurreccion

Wednesday, September 9, 2026

Iran: Improved ballistic missile will take preemptive action against threats By Amir-Hussein Radjy & Cara Anna

The Associated Press

ASHINGTON—Iran state media on Monday said a ballistic missile with improved capabilities was demonstrating a new doctrine: Tehran “will take action against any threat, even before it is carried out.” The report by Iran’s state news agency repeatedly cited comments aired on state TV the day before by the head of Iran’s Supreme National Security Council, Mohsen Rezaei, who boasted of new missile capability and claimed it had been “tested” against a US warship. But it was not clear whether what was tested was the missile the new report described, the solid-fueled Qassem Basir. The US on Saturday said ballistic missiles were launched at US warships and it struck three

Iranian oil tankers in response. Experts called the launch a dangerous esca lation, noting that until then Iran’s attacks at sea had targeted commercial shipping during six months of war. The US said the warships evaded the attacks. Iran’s messaging in recent days has become more assertive, and Monday’s report said the Qassem Basir marks “a turning point in Iran’s defense strategy.” It described the missile as having greater range and accuracy and

Russia, North Korea open first road across their shared border By The Associated Press

USSIA and North Korea opened the first road bridge across their shared border Monday, a development that both countries hailed as boosting their deepening ties. The bridge over the Tumen River is 1 kilometer (0.6 mile) long and has two lanes and will allow up to 300 vehicles a day to pass through a newly built border crossing point, the Russian government said in a statement. The bridge links North Korea’s Rason and Russia’s Khasan, border cities of the two countries. The bridge’s inauguration ceremony took place simultaneously in the two cities, with Russian Prime Minister Mikhail Mishustin and North Korean Premier Pak Thae Song attending via video link. “I am convinced that the expansion of transpor t infrastructure near the border will give a powerful boost to the fur ther development of trade, economic, technological, scientific and cultural cooperation between the Russian

Federation and the Democratic People’s Republic of Korea,” Mishustin said. Pak said the bridge’s completion is “a significant event adding a new dynamic movement to the overall bilateral cooperation,” according to North Korea’s official Korean Central News Agency. Relations and exchange programs between Russia and North Korea have been flourishing, with North Korea supplying ammunition and troops to support Russia’s war against Ukraine in return for economic and military assistance. North Korea has been receiving Russian tourists since February 2024 amid slowly easing pandemic curbs. KCNA said the bridge’s opening would promote tourism, human exchange and commodity circulation between the two countries. North Korea and Russia, which are already served by a railway bridge and air service, agreed in 2024 to construct a b r i d g e f o r a u to m o b i l e s ove r t h e Tumen River, which runs along North Korea’s borders with Russia and China. Construction began last year.

Pope Leo XIV unveils a fresco at sanctuary where he prayed after his election last year By Silvia Stellacci & Nicole Winfield The Associated Press

ENAZZANO, Italy—Pope Leo XIV returned Monday to a sanctuary where he prayed just after his election and revealed a permanent sign of his devotion to the place: a fresco depicting him praying that now adorns an upper cornice of the basilica. Leo unveiled the por trait before celebrating Mass with his fellow Augustinian brothers at the Sanctuary of Our Mother of Good Counsel in the medieval village of Genazzano south of Rome. He joins a handful of past popes whose visits to the sanctuary were commemorated with portraits that adorn its walls, going back to Pope Urban VIII in 1630. Leo visited the sanctuary on May 10, 2025, just two days after his election and in his first outing as pope. The former Robert Prevost had been there many times before, since the place has special significance for the pope’s Augustinian religious order.

The sanctuary is managed by Augustinian friars and has been a place of pilgrimage since the 15th century. Leo’s namesake, Pope Leo XIII, elevated it to a minor basilica and expanded the adjacent convent in the early 1900s. Leo referred to that 2025 outing during his homily at the basilica Monday, which commemorates the birth of Mary. Leo recalled what he wrote then in the sanctuary’s guest book. The new pope wrote at the time that he felt the “need and profound desire” to come to the sanctuary after his election to pray before the Madonna of Good Counsel “who has accompanied me all my life with her maternal presence, with her wisdom and example of love for her son who is always the center of my faith.” Leo and the Vatican are stepping up activities after a summer lull. The Holy See’s typically busy autumn conferences and audiences are taking shape, and Leo is set to go to France at the end of the month and make his much-awaited trip to Uruguay, Argentina and Peru in November.

A MOTORBOAT passes a general cargo ship anchored in the Strait of Hormuz off Bandar Abbas, Iran, on September 6. AP/VAHID SALEMI

a half-ton warhead. The missile was unveiled last year, when it was described as having at least a 1,200-kilometer (745-mile) range. Concerns about Iran’s ballistic missile program were one of the stated reasons the US and Israel attacked Iran early this year, sparking the war.

US dismisses talk of Iran’s ‘exclusion zone’

THE W hite House responded to plans announced by Rezaei

to create an “exclusion zone” near the Strait of Hormuz that’s aimed at vessels tr ying to transit, saying the waterway is open and controlled by the US. It also said the US Navy had cleared the strait of mines, and that tanker traffic to non-Iranian ports would increase. A US blockade on Iranian ports continues in an effort to increase Tehran’s economic pain by limiting its oil exports. The US military said that as of Monday, 94 commercial

vessels had been redirected and three had been disabled. Tehran wants ships to follow a route it chooses through the strait, which was considered an international waterway before the war. Rezaei acknowledged that the US has been helping a limited number of ships transit on a route off Oman, and said Tehran isn’t sinking them because they carry oil, noting environmental concerns. As both countries continue to assert claims about the strait and the flow of shipping, global commerce information firm Kpler noted on X that transits through the waterway dropped sharply last week. A week ago, an attack on a Saudi-owned tanker killed two crew members and left seven unaccounted for. If they are confirmed dead, that would make the attack the deadliest on a commercial vessel since the war began on February 28 with US and Israeli strikes.

Regional countries express frustration

FRUSTR ATION emerged again

in the Gulf over the uncertainty around the waterway that’s crucial for shipping global supplies of oil, natural gas and related products like fertilizer. “No single state” should control the strait, Anwar Gargash, a diplomatic adviser to the United Arab Emirates (UAE) president, said at a forum of world leaders in Abu Dhabi, adding: “Our energy exports will not be held hostage, nor will our trade and economic activity.” T he UA E , a c lose US a l ly, has repeatedly come under Iranian missile and drone fire in the war. Last month, the UAE suspended all trade with Iran after saying it had come under renewed fire. Rebuilding trust between Iran and the Gulf countries could take decades, Gargash warned. And Nabil Fahmy, secretarygeneral of the Arab League, told a ministerial-level meeting in Cairo that “we will not accept our maritime corridors to become a bargaining chip in the calculations of others” and condemned Iran’s attacks on Gulf nations.

Israeli airstrikes on southern Lebanon kill 12 people, including 2 children By Ahmad Mantash The Associated Press

FAR RUMMAN, Lebanon—Israel’s air force carried out two airstrikes early Monday on a southern Lebanese village, killing at least 12 people and wounding others, including children, Lebanon’s Health Ministry said. Monday’s strikes came amid a new round of escalation between Israel and the militant Hezbollah group despite a truce reached more than two months ago. The strikes also came days after Israel’s military said it is in “operational control” of the strategic Ali Taher hill that overlooks several villages as well as main roads leading to the city of Nabatiyeh. The Health Ministry said one of the strikes hit a building, killing 11 people, including two children and four women. Eight were also wounded, including three children and a paramedic. The ministry said that another strike on a car in the village killed a paramedic with the Lebanese Islamic Risala Scout Association and wounded two others. The Israeli military said the strikes come in retaliation for two Hezbollah drone attacks that exploded while targeting Israeli troops in Lebanon from the area on Monday. It said the strikes targeted a Hezbollah militant trying to transport weapons to Kfar Rumman. Hezbollah did not claim the attacks nor immediately issue a statement on the intensifying strikes around Nabatiyeh province.

RESCUE workers search for victims under the rubble of a building destroyed in an Israeli airstrike in the southern village of Kfar Rumman, Lebanon, on September 7. AP/MOHAMMED ZAATARI

“We have been living in constant anxiety amid shelling on the outskirts,” said Kfar Rumman resident Fouad Chakaron as he stood in front of the destroyed building. “Now they struck the heart of the town.” Another resident, Saleh Medlej, pointed to the destroyed building and said this was home to families with children. “Are there missiles here?” he asked in reference to the building where the families lived. “I will not leave this place,” Medlej said, vowing to stay in his hometown despite the airstrikes and shelling. Earlier Monday, Israel’s military issued

an evacuation warning for a home in the village of Deir al-Zahrani and shortly afterward a building was struck. The military said the strike was in retaliation for a drone attack by Hezbollah militants. There was no word on casualties. In a separate statement also on Monday, the Israeli military said Israeli troops operating near the Crusader-built Beaufort castle came under fire by a Hezbollah member who was inside a house, lightly wounding two of them. The troops later killed the militant. On Sunday, Israeli strikes killed at least seven people in southern Lebanon and leveled an empty hospital.

The strikes came days after Israel released five Lebanese prisoners as part of a deal between the two countries. In return, Lebanon agreed to search for the bodies of Jewish Lebanese citizens who went missing during the country’s civil war decades ago. A US-brokered truce between Israel and Hezbollah has been repeatedly violated, with Israel carrying out airstrikes in Lebanon and Hezbollah firing drones at Israeli troops. Lebanon and Israel in June signed a USmediated framework deal under which Israeli forces were to withdraw from southern Lebanon in exchange for the disarmament of Hezbollah, but little progress has been made in its implementation. Hezbollah is not a party to the LebanonIsrael talks and has said it will not give up its weapons in any area north of southern Lebanon’s Litani River. Israeli officials, meanwhile, have said they will not withdraw unless Hezbollah is disarmed throughout the country. K f a r R u m m a n’s m ayo r, A b d u l l a h Farhat, described what happened in the village as “a massacre in every sense of the word.” He blasted the framework agreement between Lebanon and Israel, saying that Lebanese leaders “signed deals and we are paying the price here.” “There is an enemy that is not concerned about anything,” Farhat said, referring to strikes that have been ongoing since the deal was signed.

Rescuers look for survivors after New Delhi hostel collapse kills 7 By Rishi Lekhi

The Associated Press

EW DELHI—Search and rescue teams combed through the debris of a collapsed building in New Delhi on Monday as the death toll climbed to seven, officials said. The five-story building, which housed a boys’ hostel, collapsed on Sunday in Satya Niketan, a densely populated neighborhood known for its private student accommodations near a Delhi University campus. Police, firefighters and crews from

India’s disaster response agency continued their search for a second day as earthmovers cleared debris and sniffer dogs worked the site to help rescuers reach those still trapped inside. Rescue crews pulled at least 12 people from under the rubble, Delhi Chief Minister Rekha Gupta told reporters at the site on Monday. About 80 percent of the debris had been cleared and only rubble from the basement remained, she said, adding that six people died and six others were injured in the incident.

Later Monday, rescuers recovered a body, raising the death toll to seven, officials said. According to residents, the building was at least 55 years old and had been under renovation for months before reopening to tenants, mostly students, in August despite work remaining unfinished. Prakash Chand, a resident, said laborers were in the basement carrying out digging work when the building collapsed. Preliminary findings suggest water accumulation in the basement and ongoing repair work on the aging building may have

caused the collapse, Gupta said. She said the government will draft a policy requiring periodic structural audits and safety certificates for buildings used by the public, including student accommodations, nursing homes and schools. “No public activity will be permitted” in buildings that fail to comply, Gupta said. After Gupta’s visit, police arrested the building owner and filed a case against him. Authorities also suspended at least five municipal employees responsible for building safety oversight in the area, the Press Trust of India news agency reported.

Wednesday, September 9, 2026

TheWorld

China export growth rebounds as trade surplus nears $806B

By Bloomberg News

HINA’S export growth accelerated and pushed the trade surplus near $806 billion for the year, just as the US ramps up pressure on Beijing to address imbalances in commerce before the leaders of the world’s biggest economies meet in Washington. Exports jumped 25 percent in August from a year earlier, versus an increase of nearly 24 percent in the previous month, data released by China’s General Administration of Customs showed on Tuesday. Economists surveyed by Bloomberg had predicted a gain of almost 26%. Imports rose 28.2 percent, less than expected. As a result, the trade surplus for the month widened 6 percent from July to $119.1 billion and kept rising ahead of its pace last year. After racking up a record $1.2 trillion surplus last year, China is on pace for a similar haul in 2026 as the global artificial intelligence (A I) infrastructure buildout propels trade across Asia.

The relentless growth in exports is generating imbalances and adding to tensions with trade partners concerned that China’s manufacturing dominance across the global value chain is hollowing out their own industries. China’s trade surplus with the US surged almost 44 percent from a year earlier to more than $29 billion—the widest gap since Donald Trump returned to the White House in January 2025. While exports to the US jumped 34.4 percent in August, China’s shipments to the European Union climbed only 6.7 percent—the slowest increase in 10 months. The US is toughening its the rhetoric against China with calls to boost domestic demand and reduce reliance on exports for

CHINA’S goods for export at the port. BLOOMBERG

growth, just before Chinese President Xi Jinping is scheduled to meet Trump in Washington later this month. The two sides have maintained a fragile tariff truce that’s set to expire in November unless extended. Tensions are also on the rise between Beijing and Brussels ahead of an October deadline to address imbalances that EU leaders have increasingly cast as a strategic challenge. Treasury Secretary Scott Bessent last week blasted China for preventing a Group of 20 gathering of finance chiefs from issuing a joint communique that called on nations with “excessive and persistent external surpluses” to “remove distortions.” Beijing pushed back on the accusation, with the Ministr y of Commerce d ismissing t he

US actions as an attempt to justif y protectionism and contain China. Extreme weather caused disruptions to shipping in August. Major ports in east China suspended operations as typhoons approached. Cargo throughput at China’s ports fell every week last month from the prior seven days, according to official figures. While trade volumes are on the rise, price gains are dramatically inflating the value of exports this year. With trillions of dollars pouring into AI, a shortage for semiconductors and other electronics has sent some chip prices soaring as much as 700 percent over the past year. Volume growth at China’s ports is expected to increase about 5 percent this year, according to estimates by S&P Global Ratings.

Japanese carmakers brace for profit hit with strong yen By Nicholas Takahashi Bloomberg News

OYOTA Motor Corp. and other Japanese carmakers risk taking a hit to their bottom lines after the yen strengthened to its highest level in more than six months. The currency traded just above ¥153 against the dollar on Tuesday, its strongest level since February. That’s squeezing many of Japan’s export-focused automakers, which have partly based their earnings forecasts on weaker yen assumptions. At ¥160 yen to the dollar, Toyota has the most bearish projection. The world’s biggest automaker said in August its annual operating income falls by about ¥50 billion ($326 million) each time the yen appreciates by ¥1. The swings are a source of uncertainty for Japanese automakers, highlighting the economic cost of a volatile currency. A stronger

JAPAN’S strong yen squeezes its car exports. BLOOMBERG

yen erodes the value of overseas earnings when they’re brought back to Japan, hurting companies that generate much of their sales in the US and Europe. T he y e n i s c u r re nt l y out p e r for m i n g t he a s s u mpt ion s of a l l Japa nese c a r m a k ers e xce pt Ni s s a n Motor C o., w h ic h

p ro j e c t s it at ¥ 1 5 0 a g a i n s t t he d ol l a r for t he f i s c a l y e a r t h rou g h M a rc h 2027. Toyota and Suzuki Motor Corp. revised their projections upward in August from May. Japan’s automakers have long embraced conservative currency assumptions, helping them to

meet or exceed forecasts when posting results. Many of them produce cars and even parts closer to final sales markets, creating a natural hedge because production expenses can be paid in the same currency. Toyota is better equipped to tolerate the risks that come with adopting a weaker-yen assumption. Its earnings are among the most global in the industry and are spread across financial services and other businesses, giving it additional operational flexibility to offset adverse swings. While the weak yen has threatened to drive up inflation and import prices in Japan, it had offered the island nation’s largest exporters a much-needed respite from US tariffs, soaring oil prices and supply chain snags. In late June, t he yen was trading at its lowest since 1986, prompting the US and Japan to make their first joint intervention in 15 years.

King Charles III clarifies status of Prince Harry, Meghan By Danica Kirka

The Associated Press

ONDON—King Charles III has reiterated that Prince Harry and his wife, Meghan, remain non-working members of the royal family following their return to the United Kingdom. A letter sent on behalf of the king to senior government officials said the couple will continue to refrain from using their royal titles as they have done since stepping back from official royal duties in 2020. Any charity work the couple undertakes will be carried out in a private capacity, and operational security decisions are matters for the relevant police agencies, the letter adds. The letter was sent by the Lord Chamberlain, the most senior official in the royal household, to senior officials in the government and military, as well as lord lieutenants, the king’s personal representatives around the country.

“To help avoid doubt or confusion, The King has directed that [this] information be shared,” the letter says.

While the communication simply confirms that Harry and Meghan’s status remains unchanged, the decision to send the letter

PRINCE Harry, and Meghan, the Duke and Duchess of Sussex, arrive for an event, during a visit to Bondi Beach, Australia, on April 17. JONATHAN BRADY/POOL PHOTO VIA AP

and release it publicly demonstrates the concern among some palace observers that the couple’s status could allow them to become a sort of parallel royal court, competing with working members of the royal family. The security question is particularly sensitive because Harry has fought a longrunning battle with the government for the restoration of publicly funded police protection, which was canceled when the couple gave up their royal roles. The decision about whether to restore the couple’s round-the-clock police protection is a matter for a government panel known as the Royal and VIP Executive Committee. “Any specific questions from official and State organizations about the courtesies which should be extended to the Duke and Duchess, and particularly where recourse to public funds may be required, should be directed to Buckingham Palace,” the Lord Chamberlain said in his letter.

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EU reassures a Trump-rattled Greenland with promise of new partnership, investment By Lorne Cook

The Associated Press

RUSSELS—The European Union on Monday sought to reassure a jittery Greenland with the promise of a stronger partnership and hundreds of millions of euros in investment following repeated threats from US President Donald Trump to take control of the island. During a visit to the capital Nuuk, European Commission President Ursula von der Leyen offered €200 million($232 million) in support over the next two years to help Greenland tackle climate change, boost internet connections and improve hydropower plants, fisheries and education. The EU has increased its focus on Greenland since Trump began insisting that the United States should take control of the island for security reasons. His persistent claims raised sovereignty concerns and pushback from Greenlandic and Danish leaders and heightened tensions among NATO allies. “Greenland’s future is for the people of Greenland and Denmark to decide. No one else,” von der Leyen said. “Territorial integrity, sovereignty, the inviolability of borders. These are fundamental principles of international law.”

EU promises money for Greenland’s development

FUNDS are also earmarked for better housing, support to small businesses and sustainable tourism. Von der Leyen also said that she wants to double EU budget support to Greenland to around half a billion euros ($580 million) from 2028. “Greenland can count on the EU,” she said, after signing an EUGreenland declaration with Prime Minister Jens-Frederik Nielsen and Danish Prime Minister Mette

Frederiksen. Greenland is a semiautonomous territory of NATO ally Denmark. Nielsen described the 27-nation EU as “a loyal and trusted friend,” notably at a time when the island faces “new challenges that we cannot tackle alone.” “Through these challenging times, your support to us is unfailing,” he said. “You have stood by us and continue to stand by us. We feel it and are deeply grateful.”

Denmark and European allies resist Trump’s pressure

THE Trump administration also leaned on Denmark. “We have been under pressure,” Frederiksen told reporters. “It has been very clear, and we are very thankful for the great support we have received from our European partners but, by the way, also globally.” Denmark and seven of its European allies sent a small group of military personnel to the island in January, publicly for military exercises focused on strengthening Arctic security, but with the intention of showing support for Greenland’s sovereignty. In response, Trump threatened to slap new tariffs on them all: Denmark, Finland, France, Germany, the Netherlands, Norway, Sweden and the United Kingdom. They condemned the move as undermining trans-Atlantic relations, and Trump eventually backed down after NATO agreed to boost security in the Arctic region. Von der Leyen’s visit came as 11 NATO countries began military exercises in Greenland on Monday involving around 400 military personnel, including special forces troops trained to operate in Arctic conditions from Canada, Denmark and Finland. No US troops are taking part in the Arctic Shield drills, which run September 7 to 18.

DENMARK’S Prime Minister Mette Frederiksen (center), President of the European Commission Ursula von der Leyen (left), and Greenland’s Prime Minister Jens-Frederik Nielsen, visit the company Eutelsat OneWeb in Nuuk, Greenland, on September 7. MADS CLAUS RASMUSSEN/RITZAU SCANPIX VIA AP

France champagne output set to halve on heat waves, drought By Nayla Razzouk Bloomberg News

RANCE’S Champagne output is set to fall by almost half from 2025 as extreme weather batters yields. Champagne production is estimated to fall to 1.34 million hectoliters, 48 percent below from last year, according to a statement from the Agriculture Ministry. Overall, wine produc tion in 2026 is estimated at 34 million hectoliters, down 6 percent year-on-year and 17 percent below the five-year average. The drop in production reflects a reduction in vineyard area and weaker yields after this year’s scorching temperatures and drought. The national harvest would be one of the smallest in the past 30 years, according to the statement, which is based on data through September 1. Extreme weather has been damaging vineyards in France—one of the world’s top wine producers—and elsewhere in recent years.

The weather-linked setbacks have added to the woes of an industry already battered by dwindling demand amid changing drinking patterns and lackluster economic conditions. French wine and spirits exports have been falling, weighing on the country’s food trade balance. Last week, the government allocated more than €1 billion to support farmers hurt by the heat waves and wildfires this summer. This year, most wine-growing regions began harvesting earlier than usual because of high temperatures since spring, the ministry said in the statement. In Burgundy, Pinot Noir has been p a r t i c u l a r l y h a rd h i t, w i t h l o s s e s exceeding 50 percent. In the Bordeaux region, production is expected to rise 10 percen compared with the very low level recorded in 2025, thanks to improved yields. However, it is still expected to be 11 percent below the 2021-2025 average.

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Wednesday, September 9, 2026 A9

SMDC partner Slowest growth in money Pag-IBIG, as more developers widen options under supply posted in 6 months home Marcos’ Expanded 4PH

By Andrea E. San Juan

HE slight easing in money supply growth is a “Goldilocks outcome,” with enough money flowing through the economy to sustain growth, but not so much as to create renewed inflationary pressures, according to an analyst.

Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co., pointed this out after the latest data from the Bangko Sentral ng Pilipinas (BSP) showed that the amount of money circulating in the economy or M3, grew by 10.3 percent year-on-year to P20.5 trillion as of July 2026. Historical data from the central bank indicated this is the slowest growth of money supply in six months or since January 2026. As defined by the central bank, M3 is a broad measure of money supply that includes currency in circulation, bank deposits and other financial assets that are readily convertible to cash. “The slight easing in money supply growth to 10.3 percent in July from 10.7 percent in June should not be

viewed as a sign of weakness,” Ravelas pointed out. The foreign exchange analyst said the more important message is that liquidity in the economy “remains healthy and continues to grow at a robust double-digit pace.” Ravelas said this suggests that households, businesses, and the banking system still have access to ample funding to support spending, investment, and credit expansion. At the same time, he explained that the moderation indicates that liquidity growth is becoming “more balanced, which is positive from an inflationmanagement standpoint.” “In short, this is a Goldilocks outcome: enough money flowing through the economy to sustain growth, but

not so much as to create renewed inflationary pressures,” added Ravelas. Ravelas said for investors and businesses, the signal remains “constructive,” as the backdrop continues to support economic activity and “reinforces the case for a gradual and calibrated monetary policy response.” The BSP explained in its statement on Tuesday that the latest M3 growth eased slightly from 10.7 percent in the previous month due to the “contraction in net foreign assets [NFA].” NFAs refer to the difference between the claims of the BSP and banks on nonresidents and the liabilities of these depository corporations to nonresidents. Meanwhile, M3 growth in July continued to be driven by borrowings from both the private and public sectors. “Bank lending continued to channel funds to production sectors and households,” added the central bank. Moreover, BSP said the National Government’s issuance of debt securities and withdrawal of deposits from the BSP and banks to finance spending also supported domestic liquidity growth. “By contrast, NFA contracted and led to slightly slower growth in domestic liquidity. Relative to the same period

a year ago, the BSP’s NFA grew slower by 2.1 percent. Meanwhile, banks’ NFA contracted due to higher foreignexchange-denominated liabilities, particularly bills payable,” the central bank explained further.

Bank lending

MEANWHILE, BSP data showed that loans from universal and commercial banks jumped by 10.4 percent year-onyear in July, faster than the previous month’s 9.8 percent. In peso value, data from the central bank showed loans outstanding for production and consumer loans amounted to P14.981 trillion as of July, 0.67 percent higher than the P14.882 trillion as of June. Outstanding loans to residents, which accounted for the bulk of total bank lending, rose by 10.8 percent year-on-year in July, the BSP said. According to the central bank, loans for business activities expanded faster by 9.8 percent in July, led by increased lending to the following sectors: electricity, gas, steam, and air-conditioning supply; wholesale and retail trade, and repair of motor vehicles and motorcycles; manufacturing; financial and insurance activities; and information and communication. See “Money,” A2

SENATE GROOVES: HAWAK NILA ANG BEAT Filipino dance crews pose with Sen. Bam Aquino and fellow senators after receiving copies of Senate Resolution No. 591, sponsored by Aquino,

congratulating them for their medal-winning performances at the 2026 World Hip Hop Dance Championship in Phoenix, Arizona. Femme MNL won the Megacrew title, HQ topped the Adult division, The Crew took silver in Megacrew, while Folk Jumpers and Sayawatha Jr. won bronze in the Adult and Junior divisions, respectively. ROY DOMINGO/SPPA POOL

₧5.5-B DOT budget gets HOR backing By Ma. Stella F. Arnaldo Special to the BusinessMirror

EVERAL lawmakers from the House of Representatives have endorsed the P5.5billion budget requested by the Department of Tourism (DOT), its attached agencies, and government corporations under the National Expenditure Program (NEP) for 2027. This includes a P1-billion Branding Campaign budget lodged with the DOT-Office of the Secretary’s Market and Product Development Program under its Maintenance and Other Operating Expenses. Most lawmakers attending the House Committee on Appropriations’ hearing on DOT’s budget also supported the agency’s request for P82.33 million in additional Tier 2 funds to further boost the agency and its other units’ initiatives to attract more foreign visitors to the Philippines. They backed as well some P1.65 billion in additional funds for DOT’s attached agencies and government firms, the largest of which, will support the Tieza Infrastructure and Enterprise Zone Authority (P1.31 billion). The latter’s internally generated funds are expected to run out if legisla-

tors approve the abolition of the travel tax. These endorsements were spearheaded by Reps. Rufus Rodriguez (2nd District, Cagayan de Oro), Perci Cendaña (Akbayan), Salvador A. Pleyto (6th District, Bulacan), among others. As per the Department of Budget and Management (DBM), Tier 2 funds cover completely new initiatives and capital outlays, or existing projects and services that are being expanded.

‘Discover’ yields P1.8-M revenue

“BECAUSE I acknowledge that the DOT is a vital cog in the economic development of our country, together with its attached agencies, this is therefore a budget augmentation we should all support...,” said Rodriguez. Under the NEP 2027, no visitor numbers are proposed for that year except for a target increase in tourism receipts by some P2.45 billion. (See, “Tourism gets smaller share in proposed P7.2-T national budget for 2027,” in the BusinessMirror, Aug. 18, 2026.) In her budget presentation, Acting Tourism Secretary Ma. Bernadita Angara-Mathay underscored the Philippines’s various tourism awards and recognitions, including the performance of its

recently launched “Discover More to Love” campaign. This is meant to push domestic travel in the light of the Middle East crisis, which has raised the cost of foreigners’ travel to the Philippines. She noted that in the last 100 days since the “Discover More” campaign was launched, participating hotels have earned P1.79 million in revenue from 800 room nights booked. Airlines have also reported over 203,000 seats sold since the campaign began in July. The campaign will continue until November. She added that since the announcement of the Michelin Guide for Metro Manila and Cebu, the selected restaurants showed a 34-percent increase in transactions in the fourth quarter of 2025 to 77,500, valued at P366 million, up 23 percent, year on year. The DOT chief has mentioned that the contract with Michelin Guide will be continued until 2028, although like her predecessor, she has not revealed its total contract price.

Funds for TMAP pushed

BUSINESSMIRROR sources had earlier intimated that the contract price is US$5 million or roughly P300 million. This appears to correspond to the annual P75 million notation in DOT’s budget on Local-

ly funded projects, namely “Culinary Guide Selection and Activation for the Philippines’ Emergence as a Global Gastronomy Destination.” (See, “DOT eyes permanent partnership with Michelin Guide,” in the BusinessMirror, Nov. 3, 2025.) Meanwhile, Negros Occidental 3rd District Rep. Javi Benitez pointed out that DOT’s proposed budget for 2027 failed to include funds for the Philippines’s hosting of Terra Madre Asia Pacific (TMAP) in July next year. TMAP, the nexus of the Slow Food movement in the region, he noted, attracted 2,500 delegates and some 75,000 visitors in Bacolod City last year, with sales of almost P47 million. Angara-Mathay assured the lawmaker, “I’m a fan of slow food and have made it a part of all my public speeches. And no less than the chairman of the Japan Travel Bureau asked about it. So definitely, we will knock on the door of [DBM] Secretary Kim [Robert C. De Leon] to ask that at least he approves this part of the second-tier [fund requests].” DOT had actually requested P45 million from the DBM for TMAP under Tier 2 funds, but this was not approved. The DOT had projected a return on investment of “132 percent” on the requested funds.

PARTNERS FOR AFFORDABLE HOMEOWNERSHIP Department of Human Settlements and Urban Development Secretary Jose Ramon P. Aliling (fourth from left), who also chairs the Pag-IBIG Board of Trustees, and SM Prime and SM Development Corp. President Jeffrey C. Lim (third from left) shake hands following the signing of a memorandum of understanding to widen the range of SMDC homes available to qualified members through Pag-IBIG Housing Loans. Lim and Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta (second from right) signed the MOU, while Aliling, SMDC Vice President and Head of Design, Innovation and Strategy Jessica T. Sy (left), SMDC Executive Vice President Grace M. Sta. Ana (second from left), and Pag-IBIG Fund Deputy Chief Executive Officer Alexander Hilario G. Aguilar (right) served as witnesses.

AG-IBIG Fund and SM Development Corp. signed a memorandum of understanding Sept. 8 to widen the range of SMDC homes that qualified members may purchase using Pag-IBIG Housing Loans. The MOU also covers preferential pricing on selected units, buyer education and planned homebuyer programs. The partnership advances efforts by the Department of Human Settlements and Urban Development and Pag-IBIG Fund to strengthen private-sector participation under President Ferdinand R. Marcos Jr.’s Expanded Pambansang Pabahay para sa Pilipino Program. These efforts make projects from more of the country’s leading developers available through Pag-IBIG financing, giving members, particularly middle-income Filipino workers, greater access to quality, well-located homes that suit their families and fit their budgets. DHSUD Secretary Jose Ramon P. Aliling, who also chairs the PagIBIG Board of Trustees, said SMDC’s participation shows how the agency’s expanded and affordable financing is translating into wider home choices for members. “The direction of President Ferdinand R. Marcos Jr. is clear. We want more Filipino workers and their families to have a real opportunity to own a home in the city, particularly one closer to where they work. With Pag-IBIG Housing Loans now up to P10 million for each qualified member, more Filipino workers can choose from SMDC properties and pay for their chosen home at affordable rates over time,” Aliling said. “This is what Expanded 4PH is achieving by bringing stronger government support and growing private-sector participation together so that more Filipinos can have a home of their own.” Under the MOU, SMDC will offer preferential pricing to qualified Pag-IBIG Housing Loan borrowers on selected units in participating Pag-IBIG-accredited projects. The current accredited selection includes Coast Residences and ICE Tower in Pasay City, Spring Residences in Parañaque City, selected phases of Hill Residences in Quezon City, and SMDC Cheerful Homes 1 and 2 in Pampanga. SMDC is also working to broaden the selection, with additional developments in Makati City, Mandaluyong City, Pasay City and other growth areas undergoing Pag-IBIG accreditation. The projects under review span SMDC Heights, SMDC Nature and SMDC Symphony Homes, covering high-rise, mid-rise and house-and-lot developments. SMDC is one of the country’s leading residential developers, with a portfolio of communities designed around how Filipinos live and a longterm purpose of helping build a na-

tion of homeowners. “Homeownership is too important for any one institution to address alone. Making it more attainable requires strong partners with a shared commitment to Filipino families,” said Jeffrey C. Lim, president of SM Prime and SM Development Corp. “Government plays a critical role in making home financing more affordable, while developers like SMDC must provide homes and communities that deliver lasting value. With DHSUD, Pag-IBIG Fund and SMDC working together, Filipino homebuyers can get more of what they need: better financing, the right space, a good location, convenient access and a community where they can build their lives.” Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta said the partnership strengthens the agency’s efforts to make suitable homes more affordable for members. “Affordable financing truly serves its purpose when our members also have suitable homes to choose from. Through our partnership with SMDC, more Filipino workers can choose a home based on their family’s needs, preferred location and budget, then finance it affordably through Pag-IBIG. Our promotional rates of 4.5% on loans of up to P4.9 million and 5.75% on loans above P4.9 million and up to P10 million make financing their chosen home even more affordable and are available to qualified borrowers until the end of the year,” Acosta said. “This is part of our comprehensive approach to helping our members own a home. We do more than provide affordable financing. We also work closely with developers and other stakeholders so that more homes are built to meet the needs and budgets of Filipino workers.” Aliling and SMDC Executive Vice President Grace Sta. Ana served as witnesses as Acosta and Lim signed the MOU in Makati City. Also present from Pag-IBIG were Deputy Chief Executive Officers Alexander Hilario G. Aguilar, Benjamin R. Felix Jr., along with DHSUD Senior Undersecretary Eduardo P. Robles, Jr. SM Prime and SMDC officials in attendance included Jessica T. Sy, Vice President and Head of Design, Innovation and Strategy; Marking C. Que, Senior Vice President and Head of Customer Support; Carlo O. Alampay, Vice President and Head of Regulatory Compliance; Susan G. Nicdao, Vice President and Head of Project Development for SMDC Nature; Atty. Mena R. Ojeda Jr., Vice President and Head of Legal Affairs and Risk Management; and Sheila Ching, Assistant Vice President for Project Development and Management. SMDC is the latest leading developer to enter a housing partnership with Pag-IBIG.

A10 Wednesday, September 9, 2026 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Why PHL can’t afford to miss nutrition targets

OUR years before the deadline for meeting the Sustainable Development Goals (SDGs) of the United Nations, many countries are lagging behind in terms of transforming their food systems, according to the latest study of the Food Systems Countdown Initiative (FSCI). Based on the FSCI study, the Philippines is one of the countries that will not meet its targets for a number of indicators by 2030. Against the global benchmark, the Philippines meets 5 of 40 assessed indicators while another 18 are “close or moderately close,” and 17 are “far or very far.”

Of the indicators where the Philippines has been assessed to be “far or very far,” the most alarming are those that have been categorized under diets, nutrition and health. Data from FSCI, a global interdisciplinary research collaboration co-led by Johns Hopkins University, Cornell University, the Food and Agriculture Organization of the United Nations (FAO) and the Global Alliance for Improved Nutrition, showed that the Philippines will likely miss the targets related to reducing the number of people experiencing food insecurity and those who cannot afford a healthy diet. Based on the performance of the Philippines, it would need more time to at least slash by half the current number of Filipinos who cannot buy nutritious food and those that are food insecure. From now until 2030, FSCI said the country should log an annual improvement of 22.3 percent if it is to meet the 5.8-percent global benchmark for the food insecure indicator, which reached 33 percent in 2024. As for the healthy diet indicator, the Philippines had 44 percent of its population unable to afford it in 2024, far from the 2-percent benchmark. To meet the global benchmark, the country must record an annual improvement of 32.9 percent. For a country that is aspiring for high-income status, these figures do not bode well for the Philippines’s economic ambitions. (See, “World Bank: PHL may reach high-income status only by 2053,” in the BusinessMirror, August 3, 2026). Reaching the level of productivity required to further raise incomes is largely dependent on having a healthy workforce—one that is not only capable of doing physical work but is also mentally equipped to handle more complex tasks. This is only possible if millions of children and young adults have access to cheap, but nutritious food. Eating healthy, however, would entail the implementation of drastic reforms in the agricultural value chain and the food system of the Philippines. These reforms should have the end goal of enabling Filipinos to buy fresh produce and sources of protein, such as meat and poultry. And these changes will not yield the desired results if the national government and the local governments will not work together. The investments required in human capital that will enable the Philippines to make the leap to high-income status will be considerable and may be challenging to find given the country’s shrinking fiscal space. As resources are becoming scarce, it is therefore imperative for the government, together with private sector stakeholders, to prioritize the establishment of a sustainable food system—one that would allow Filipinos to flourish and the country to achieve its economic ambitions. Since 2005

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‘Sponge cities’ Mark Villar

THE BUILDER

HE incessant rains that we are experiencing are prompting our government executives to look for innovative ways to control flooding, especially in Metro Manila.

Floods disrupt economic activities. Our workers have to labor through submerged roads and highways before reaching their workplace. They do so at the risk of endangering their health. They also lose quality time to be with their family because of the long hours it take to go home. Climate change and extreme weather are now the new normal and unless we take steps to mitigate flooding, our workers, students and the rest of the population will be at the mercy of nature. But I remain optimistic that we can find solutions to the perennial problem. I just read in the papers and learned from broadcast media that the Metropolitan Manila Development Authority (MMDA) is doing its best to mitigate floods. The agency is prioritizing five sites for a new flood-mitigation program that will temporarily capture

and store rainwater as Metro Manila shifts toward “sponge city” and nature-based solutions. The MMDA selected the sites from an initial 107 locations following nearly three years of feasibility studies and consultations with local governments, experts and landowners. The feasibility study, conducted by Haskoning of the The Netherlands, with funding from the Asian Infrastructure Investment Bank, has been completed, with MMDA Chairman Don Artes describing the identified projects as “execution-ready.” Haskoning, formerly known as Royal Haskoning DHV, is an international engineering consultancy firm with over 140 years of global engineering experience and a team that understands every stage of flood and coastal management. For such projects, the MMDA identified Camp Aguinaldo, Miriam College, Remedios Circle, Rajah Su-

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localized flooding and improve the capacity of existing drainage and flood-control systems. “Under existing facilities, such as football fields and open fields, areas can be excavated even if buildings are present,” says President Marcos. The proposed underground water-retention facilities are no different from water-impounding dams that the countryside needs to sustain agricultural farming. The Philippines faces heavy rains after the dry season. Unfortunately, we cannot store the excess water to help in farm irrigation due to the lack of impounding dams. The water merely flows into rivers and the open sea, depriving our farmers of the resource they need during the dry season. As I’ve said in this column before, the lack of discipline is contributing to the flooding in the metropolis. Trash and garbage are clogging our waterways, eventually resulting in the flooding. We could probably solve half of the flooding problem if we have the discipline to dispose our trash properly. In addition, we need a whole-ofnation approach to beat the problem, instead of relying solely on the government. We are all stakeholders capable of providing solutions and protecting our environment as a whole. For feedback e-mail to senatormarkvillar@ gmail.com or visit our web site: https://markvillar. com.ph

The quiet and steady resurgence of football in the PHL

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layman and the UP Sunken Garden as priority sites. Artes is confident that the MMDA can finish the priority sites by June 2027. The five projects are part of a broader program covering 39 sites across Metro Manila. They were selected from an initial 107 locations following nearly three years of feasibility studies and consultations with local governments, experts and landowners. The projects seek to temporarily retain rainwater at or near areas where it naturally accumulates, preventing drainage systems, rivers and esteros from being overwhelmed during heavy rainfall. The system combines conventional flood-control infrastructure, such as pumping stations, with nature-based measures including underground cisterns, permeable pathways, sunken gardens, lagoons and other open spaces designed to absorb or temporarily retain rainwater. I agree with our authorities. With climate change, extreme weather conditions and heavy downpours, we can no longer control or fight water. We can manage or redirect its flow, however, to protect the population and properties. I believe the catchment projects will complement the rehabilitation of pumping stations and construction of new ones to significantly improve conditions in flood-prone areas. They will significantly reduce

Kuwentong Peyups

ASKETBALL is the undisputed king of Philippine sports and culture, but football continues a quiet and steady grassroots resurgence.

Football has a long and rich history in the Philippines, dating back to the 1890s, when the British introduced the sport to the Spanish and European settlers living on the islands. Decades later, the University Athletic Association of the Philippines (UAAP) officially included football as one of the competition games during its first season (1938-1939), along with basketball, baseball, women’s volleyball, swimming and athletics. The University of the Philippines (UP) at that time bagged three titles (baseball, volleyball, athletics). University of Santo Tomas (UST) topped in men’s football and swimming, while Far Eastern University (FEU) triumphed in basketball.

The women’s football was included in Season 58 (1995-98) with De La Salle University (DLSU) as champion, while Boys’ football became a regular sport in Season 72 (2009–10), which was won by Ateneo de Manila University (AdMU). Starting with UAAP Season 87, the men’s and women’s collegiate tournaments were shifted to the first semester, with the boys’ tournament remaining in the second semester. UP Fighting Maroons were champions 21 times: 20 in men’s division and once in women’s. The seasons wherein UP Men’s Football team emerged as champions include Seasons 4 (1941–42), 21 (1958–59), 36 to 40 (1973–78), 45 (1982–83), 46 (1983–84), 49

(1986–87), 52 (1989–90), 63 to 64 (2000–02), 71 (2008–09), 73 (2010–11), 74 (2011–12), 78 (2015– 16), 80 (2017–18), 86 (2023–24) and 88 (2025–26). The Women’s team won in 78 (2015–16). UP won its first double crown in Season 78 (2015–16), winning in the Men’s and Women’s. UP had a winning streak in seasons 36 to 40 (1973–78) and 63 to 64 (2000–02). UP tied with UST in Seasons 4 (1941–42), 21 (1958–59), 36 (1973– 74), 38 (1975–76), and 45 (1982–83). The UP men’s football team captured its first victory in Season 4 (1941–42) as a tie with UST, while it had its 20th title in Season 88 (2025–26) when it defeated the FEU Tamaraws 2-1 in extra time on February 23, 2026, at the Rizal Memorial Stadium. I was in third year college in UP when the UP men’s team won its 11th title in February 1990 against AdMU. Coincidentally, the team was called Maroon XI since they were composed of 11 members, including goalie Louie Cruz. A Philippine Collegian article narrated that “the Maroon XI captured the football crown as they made swallows of the AdMU Blue Eagles, 2-0, amid a pre-

dominantly cheering UP crowd at the UST field.” UST had the highest number of wins along with FEU at 39 each. UST’s 39 titles include 36 in men’s, 2 in women’s and 1 in boys. FEU’s 39 titles are 12 in men’s,14 in women’s and 13 in boys. DLSU has 17 titles with 5 in men’s, 11 in women’s and 11 in boys. AdMU has 10 with 8 in men’s and 2 in boys. University of the East (UE) has 4 in men’s. National University ( NU) has 1 in men’s. Adamson University (AdU) has none so far. The UAAP serves as a vital domestic pipeline for the Philippine national football teams. While the senior men’s national team and the women’s national team (the Filipinas) heavily recruit Filipino-heritage players from overseas, homegrown talent honed in the UAAP consistently populates the youth national teams and earns call-ups to senior pools. Football in the Philippines is traditionally a secondary sport compared to basketball, but it is experiencing a steady rise in popularity See “Gorecho,” A11

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Alex Eala and the new grammar of belonging

Opinion BusinessMirror

The oath and the empty promise

By Pablo S. Trillana III

OMETHING unusual is happening around Alexandra Eala. The score is no longer sufficient to explain it. At 21, she has become a WTA Tour champion, reached the second week of Wimbledon and entered the world’s top 20. But the more revealing measure is what happens before she strikes a ball. Practice courts fill. Tournament directors move her to larger stadiums. In Washington, most ticket inquiries reportedly concerned her matches. In Toronto, crowds exceeding 10,000 came on nights she played; Philippine flags, Tagalog cheers, adobo and lumpia followed.

Then New York enlarged the picture. The New York Times placed the phenomenon on Page A1 of its New York edition. The New Yorker asked how she became “a symbol of the Philippines.” The Wall Street Journal called her a tennis sensation with a nation-sized following. Forbes made her a Daily Cover. American Vogue— hardly a tennis journal—profiled her as a sensation. This is no longer merely sports coverage. It is a cultural event. Eala is not a rags-to-riches story. She grew up in an accomplished family. But her tennis beginnings were wonderfully unmanufactured: a grandfather who taught himself the game; crushed-shell courts; five-o’clock practices; homework in the car; then a scholarship and the difficult move to the Rafa Nadal Academy in Mallorca. There were many years when almost nobody was watching. Perhaps that is why the watching now has not consumed her. Forbes estimates that her offcourt earnings exceeded $5 million during the preceding year, aside from prize money. Nike has moved beyond simply clothing her: sampaguita motifs, Filipino-language details and Eala-specific merchandise followed. But the sampaguita works because she carried the Philippines before somebody printed it on a shirt. Fashion has become another language of that identity. Vogue Philippines put her on its cover at 17 and returned to her this year as an athlete comfortable with Filipino design and the public gaze. At the US Open, Anna Wintour singled out the “young Filipino star,” noting Eala’s interest in fashion and desire to learn about it. Vogue later included her among athletes whose cultural momentum could carry into Fashion Month. That matters because Eala does not seem to perform Filipinoness. She inhabits it. She speaks Tagalog when it comes naturally, Spanish from the years that formed her in Mallorca, and English to the international world. She wears Filipiniana because she finds it beautiful. When asked what it was like to be so popular around the world, she once turned the question around: perhaps the question was what it is like to be Filipino. Even the food follows her. Signs mention pancit. In Toronto came adobo and lumpia. Filipinos seem unwilling merely to watch her. They adopt her, feed her, travel with her, wave flags around her and make foreign arenas temporarily feel like home. Her interior language is more important still. She has admitted that she initially resisted accepting fame because she feared it might get into her head. She now accepts attention as part of her work without confusing it with the work itself. She says representing the Philippines has made her more self-aware and makes her want to become the best version of herself. There is the marrow. The phenomenon is not fame. It is formation under observation. Michael Jackson, Elvis Presley and the Beatles moved millions through music. Eala neither sings nor dances nor acts. Her medium is more austere: a rectangular court, one opponent, a scoreboard that cannot be negotiated, and repeated moments when failure becomes public. Tennis asks, point after point:

Alex Eala embodies what might be called a new grammar of belonging: the possibility that an individual can become intensely global without becoming less particular, less rooted, less herself. What do you do now? Her answer, repeatedly, has been: Return. That may be why she is beginning to mean something beyond tennis. At the US Open, a young FilipinoAmerican spectator told The New Yorker that it was inspiring to see somebody who “looks like you, talks like you” entering places “we’ve never been in before.” That sentence may explain more than rankings do. Eala embodies what might be called a new grammar of belonging: the possibility that an individual can become intensely global without becoming less particular, less rooted, less herself. The older route into the wider world often seemed to require leaving something behind—sounding less provincial, appearing less foreign, assimilating toward an established center. Eala suggests another possibility: Become globally excellent without becoming culturally weightless. The country travels with her, but not as baggage. It arrives as language, flower, flag, food, humor, family and memory. And remarkably, the supposedly fixed center begins moving toward it: tournaments alter schedules, kitchens alter menus, brands alter merchandise, magazines alter their subjects, and children who had never considered tennis begin holding rackets. This is rooted cosmopolitanism: belonging confidently to the whole world while carrying one’s own small place within it. It may also explain why the Filipino diaspora responds so intensely. For a few hours in Miami, London, Toronto, Washington or New York, people scattered across continents cease to look scattered. Around one court they rediscover themselves as community. The New York Times found this in Little Manila in Queens: Eala had become not merely a tennis player but a reason for a dispersed people to gather again. We should not burden a 21-yearold with becoming a national savior. Her first responsibility remains to live, learn, compete, lose, win and become herself. But perhaps that is precisely her larger meaning. She tells the young that entering the world does not require escaping where one comes from. She leaves the road a little wider for those who will be born after her, because a door once entered becomes easier to imagine entering again. The wide road of progress is made this way—not only by arriving somewhere new, but by leaving it more open than one found it. At their best, roots do not hold the wings down. They tell the wings where home is. And perhaps the deeper lesson is this: universality does not require the surrender of particularity. One may belong more widely precisely because one knows where one belongs first. Dr. Trillana is a lawyer, author, former Chairman of the National Historical Institute (now the National Historical Commission of the Philippines), and a lifelong student of Philippine history and Rizal studies.

Wednesday, September 9, 2026 A11

Dr. Jesus Lim Arranza

MAKE SENSE

HAVE been watching the Senate impeachment hearings against Vice President Sara Duterte with a growing sense of unease that I can no longer keep to myself. There is something deeply troubling about watching the machinery of justice grind forward while some of its operators seem determined to sabotage it from within.

Every senator-judge stood before this nation and swore an oath—not merely to participate, not merely to preside, but to administer impartial justice according to the Philippine Constitution and our laws. They concluded that oath with the words “So help me God,” a religious invocation that I, as a person of faith, take seriously. But watching the proceedings unfold, I find myself wondering: did those words mean anything at all to some of the people who uttered them? The oath is not decorative. It is not a formality to be rushed through before the real work of politics begins. It is, or should be, a solemn covenant with the Filipino people that justice—not loyalty, not friendship, not political survival—will guide their deliberations. And yet. Senator Robin Padilla stood before the public on June 9, 2025, and declared with theatrical bravado: “Kahit sunugin mo ako dito, mangangamoy Rodrigo Roa Duterte ako”—roughly translated, “Even if you burn me here, I will smell like Rodrigo Roa Duterte.” He was not merely expressing sympathy or call-

ing for due process. He was announcing, proudly and unequivocally, that his loyalty to the Duterte family is unwavering and absolute. This was a deliberate statement of allegiance. The timing matters. Padilla made this declaration after confirming he had drafted Senate Resolution No. 1371, seeking to declare the impeachment proceedings terminated. Think about what this means: a senator-judge, sworn to impartiality, was actively working to end the trial before it could properly begin, while simultaneously proclaiming his allegiance to the family of the accused. Then there is Senator Pia Cayetano and the spliced video controversy. Here was a senator-judge uploading manipulated footage on social media—footage that conveniently supported defense arguments about prosecutors seeking financial records. The House prosecution panel cried foul, and rightfully so. How can a judge who disseminates edited material favorable to one side claim to be weighing evidence fairly? The ethics complaint filed against her hangs in the air like an unanswered question, a ghost of

accountability that seems destined to remain unaddressed. These are not minor procedural irregularities. These are public declarations of partiality, broadcast for all to see, as if the rules no longer apply to those who make them. Which brings me to the question that keeps me awake at night: What will Sen. Chiz Escudero do? As presiding judge, Escudero holds a position that demands more than procedural expertise. He is the steward of this process, the guardian of its integrity. The Constitution and the rules of impeachment place extraordinary power in his hands— not power to be wielded for personal ambition, but power to be exercised with wisdom and courage. I understand the political calculations at play. The Duterte family remains a formidable force in Philippine politics, and crossing them carries consequences. But there are moments in a nation’s history when the cost of silence exceeds the cost of action. This is one of those moments. What does impartiality mean if it cannot be enforced? What value is an oath if there is no consequence for breaking it? If Senator Padilla can publicly declare himself an extension of the Duterte political dynasty and face no sanction, then we have transformed impeachment from a constitutional safeguard into political theater—elaborate, expensive, and ultimately meaningless. I find myself returning to that oath: “I will administer impartial justice according to the Constitution and laws of the Philippines. So help me God.” The phrase “So help me God” is not merely ceremonial. It is an ac-

The poorest in the US can’t find housing even as low-income units sit empty By Claire Rush | Associated Press

would pay only half that rent. “Our expenses don’t make it really possible to create a 30 percent AMI unit, unless there was this extraordinary amount of subsidy that just doesn’t exist.”

These are people with annual incomes either below the federal poverty guidelines—just under $16,000 for a singleperson household—or 30 percent of the median income in their area, whichever is higher. They comprise about a quarter of US renter households, and include many people working low-wage jobs, seniors and those with disabilities living on fixed incomes. About three-quarters of extremely low-income renter households pay over half their income on rent and utilities, the report said, leaving little leftover for other necessities. Yet homes set aside for these renters were only about 12 percent of the affordable housing units financed in 2024 by the Low-Income Housing Tax Credit— a federal program providing tax credits to developers in exchange for keeping rents low for at least 30 years, according to figures from the National Council of State Housing Agencies. The majority are for those earning at least 50 percent of an area’s median income, or AMI. In Austin, that’s a single person earning roughly $47,000 a year, as compared with an extremely low-income person earning under $28,000. The program has financed nearly 4 million affordable units nationwide since its creation 40 years ago. But some

usher in a fresh era for the national team brand, though the name remains highly iconic among fans. The Philippine Amusement and Gaming Corporation (PAGCOR) pledged an initial P5 million to support the country’s national women’s football team, the Filipinas, specifically in the 2026 AFC Women’s Asian Cup in Australia. The financial assistance follows a recent Supreme Court ruling directing PAGCOR and the Philippine Charity Sweepstakes Office to

remit a portion of their income for the funding of the Philippine Sports Commission (PSC). The SC said that PAGCOR failed to comply with the funding requirements under Section 26 of RA 6847, or the law creating the PSC, specifically the automatic remittance of 5% of PAGCOR’s gross income to the PSC for the National Sports Development Fund. The SC likewise ruled that PCSO failed to remit 30 percent representing the charity fund of the proceeds of six sweepstakes or lot-

tery draws per year since 2006. The 2026 Cinemalaya Philippine Independent Film Festival featured the full-length feature film “Hand of God” that centers on football as a bridge between an army lieutenant and children in a conflict-scarred village.

The poorest have few housing options

THERE are only about 4 million affordable rental units available for the country’s 11 million extremely low-income renter households, according to the National Low Income Housing Coalition’s most recent annual report.

Gorecho. . .

continued from A10

and fan engagement. Driven by the performances of national teams, expanding media interest, and a major national focus on developing grassroots facilities, the game is fast capturing the public’s attention. The Philippine Football Federation (PFF) officially retired the famous “Azkals” nickname in 2024 to

Dr. Jesus Lim Arranza is the Chairman Emeritus of the Federation of Philippine Industries and concurrent Chairman of the Anti-Smuggling and AntiIllicit Trade Committee.

experts say it’s inefficient—and more costly than housing vouchers. “It’s enormously complex and bureaucratic, and it raises the cost of construction enormously because the rules are so complicated,” said Chris Edwards, an economist at the Cato Institute, a libertarian think tank, who told Congress the program’s complexity “spawned” an industry of law and accounting firms just to administer it. “If you’re going to subsidize affordable housing, you should give the money directly to tenants,” he said, referring to housing vouchers. Other experts say the two programs work together well because properties built with the tax credit are required to accept vouchers—while landlords of market-rate apartments in many states are not. Still, there’s a major federal funding shortfall: Experts estimate only onein-four eligible families ever receive vouchers. Vouchers can help the poorest pay for housing that’s targeted to higher income groups, but the waitlist can be yearslong. Some affordable housing developers say that without vouchers, it’s not economically feasible to provide units for extremely low-income people. True Ground Housing Partners, an affordable housing developer in the Washington, D.C., area, gives an example: A unit for those earning 60 percent of the area’s median income—nearly $70,000 a year—brings in $1,715 per month in rent. But after $1,575 in mortgage and operating expenses, only $140 is left. “The math does not lie,” said president and CEO Carmen Romero, noting that an extremely low-income person

ORTLAND, Ore.—Mathew Davis, who lives in a homeless shelter in Austin, Texas, would love an apartment of his own. But with the little money he makes donating blood plasma, even a $450-a-month tiny home with no running water and a communal bathroom would be a stretch.

Meanwhile, over 4,500 units the city classifies as affordable—nearly 16 percent—sit empty. “I don’t make enough money really to afford anything,” Davis, 49, said of the few hundred dollars he earns a month. “I just keep trying to swim uphill.” The poorest people in the US face the most acute shortages of affordable homes. But the majority of low-income housing financed in recent years is for those earning 50 percent of an area’s median income or above, according to a survey of state housing agencies. Some cities are now seeing an uptick in vacancies as rents for these units approach market rates. The result: Apartments designated as affordable sit empty because the poorest of the poor cannot afford them. Meanwhile, some people are forced into homelessness and others into desperate circumstances to pay for housing they can’t afford.

knowledgment that human justice is imperfect, that we require guidance beyond our own interests, that there is a higher standard to which we are accountable. For those of us who believe, it is a prayer. For those who do not, it should still serve as a reminder that the law stands above any individual or family. My prayer, then, is for Sen. Chiz Escudero. I pray that he finds the courage to be the steady anchor that our democracy needs in these turbulent times. I pray that he remembers that his duty is not to the senators who may snarl or scheme behind closed doors, but to the Constitution he swore to uphold and to the Filipino people who are watching. The Senate impeachment court is not a private club where members protect one another from accountability. It is a court of last resort, a place where evidence must be weighed against evidence, where arguments must stand on their merit, and where the oath of impartiality must mean something concrete and enforceable. Justice without enforcement is merely suggestion. Impartiality without consequence is merely performance. I watch and I wait. I hope that the presiding judge will prove equal to this moment, that he will remind his colleagues that their oath was not given to the Duterte family, nor to any political alliance, but to the Republic and to the Filipino people. As I wrote in my recent column, I have great faith in Senator Chiz Escudero, a fellow Sorsogueño.

Affordable housing competes with market-rate rents

MEANWHILE, affordable housing rents for 60 percent AMI units are approaching those of market-rate apartments in US cities like Austin, Denver and Portland, Oregon. As a result, some people are opting to pay a bit more for market-rate apartments with less income-verification and faster approval—leaving growing numbers of affordable units vacant. In Austin, the vacancy rate for all affordable housing is nearly 16 percent with over 4,500 vacant units, according to real estate data and analytics firm CoStar. A healthy vacancy rate is around 5 percent. LDG Development, an affordable housing developer, cited a 12 percent vacancy rate for its 60 percent AMI units in Austin. Chief portfolio officer Rebekah Fischer said LDG is “in direct competition” with the thousands of new marketrate apartments recently built in Austin. “I have to have every bank statement, every pay check, every bill, every Venmo transaction that you had with your friends,” Fischer said of affordable housing applicants. “When we’re almost going after the same renter, you can be approved within two minutes at a market-rate deal, where unfortunately in affordable housing…it takes time.” Former AP writer Charlotte Kramon contributed.

Peyups is the moniker of the University of the Philippines. Atty. Dennis R. Gorecho heads the Seafarers’ Division of the Sapalo Velez Bundang Bulilan Law Offices. For comments, e-mail info@ sapalovelez.com, or call 0908-8665786.

Sports BusinessMirror

A12 Wednesday, September 9, 2026

Bobet, Divine in Blue Eagles’ minds, hearts

TENEO de Manila will have two fallen Blue Eagles in mind and defending champion De La Salle will be contending sans Mike Phillips as Season 89 of the University Athletic Association of the Philippines kick off Saturday at the SM Mall of Asia Arena. “Ever since the accident, that’s all they’ve been thinking about,” Ateneo interim head coach Louie Alas told Tuesday’s press conference at the Novotel Manila Araneta City. “They’ll dedicate this season to the two guys, Divine and Bobet.” Incoming Blue Eagle Rene Baterbonia and Divine Adili drowned during a team-building activity in Dipaculao, Aurora, on June 8, a tragedy that rocked hard the entire collegiate sports community with Tab Baldwin resigning and facing potential criminal and labor offenses. Despite the extreme weight of the tragedy, the league didn’t ban Ateneo from the league and Alas was just grateful. “We want to thank the UAAP family because this is our therapy,” he said. “Playing basketball is our therapy and it’s a part of healing.” Ateneo finished fifth last season and will open its campaign this year on September 16 against University of the East.Top of FormBottom of Form De La Salle, meanwhile, has no Phillips to turn to for the first time in five seasons, but assistant coach Caloy Garcia remains optimistic. “We still have some of our veterans from last season, so we trust our chemistry,” Garcia said. The Green Archers start defending their crown on Sunday against the National University Bulldogs at 2:30 p.m. at the Smart Araneta Coliseum, with season host Far Eastern University and Adamson University clashing at 12 noon and last year’s losing finalist University of the Philippines and University of Santo Tomas taking the floor at 6 p.m. FEU, meanwhile, is opening Season 89 with a message that goes beyond the competition on the court—UA AP is #ForEveryone, a theme meant to capture the shared responsibility and passion that have sustained the league through the years. Inspired by the university’s “Be Brave” mantra, the theme calls on the UAAP community to compete with integrity, support one another, and strengthen the connections that make collegiate sports more than just a competition. THE men’s 5x5 head coaches are presented in Tuesday’s press conference—(from left) Ateneo de Manila’s Louie Alas, National University’s Jeff Napa, De La Salle’s Caloy Garcia (assistant to Topex Robinson), Far Eastern University’s Sean Chambers, Adamson University’s Nash Racela, University of Santo Tomas’s Pido Jarencio, Chris Gavina and University of the Philippines’ Christian Luanzon (assistant to Goldwyn Monteverde). UAAP PHOTO

CARLOS YULO faces formidable Japanese opponents who’re as bemedalled as he is in the international arena. FILE PHOTO

By Josef Ramos

ARLOS YULO owns two Olympic gold medals from Paris 2024, three world championships titles, 12 Asian championships mints and nine crowns at the Southeast Asian Games. What’s missing for the floor exercise and vault champion in Paris is an Asian Games gold medal. He had that chance in the delayed Hangzhou Asian Games in 2023 but ran conflict to the Antwerp world championships—a wise decision because it was in Belgium where he qualified for Paris and as they say, the rest was history.

YULO VS JAPAN’S A-TEAM IN ASIAD

But the Aichi-Nagoya 20th Asian Games pose a tough campaign for Yulo—he’ll be crossing paths with a phalanx of elite Japanese gymnasts. “Japan has many good Olympic gymnasts. It is going to be a tough competition,” Yulo told the BusinessMirror. “But my goal is to win gold in the all-around besides the floor exercise and vault.” “They [Japanese] are not just Olympians, they’re gold medalist, too,” added the 26-year-old Yulo, whose coach, Aldrin Castañeda, said that the host country is fielding it’s A-team. Yulo’s most formidable rival is Shinnosuke Oka, a triple gold medalist in Paris—individual allround, horizontal bars and part of the

winning Japanese team—who also got bronze in the parallel bars. The other potential opponent is Daiki Hashimoto, winn er of the individual allround and horizontal bars gold medals in the Tokyo 2020 Olympics. Shoma Tsukiyama, on the other hand, is a rising threat in the floor exercise following his silver at the Asian championships in Zunyi, China, last June. Castañeda, agreed that the Japanese stand in Yulo’s way in the Asian Games gymnastics competition that are set September 20 to 24 at the Nagoya General Gymnasium Rainbow Hall. “We upgraded a little bit in the high bar by a point

Quiban announces he’s back with an emphatic 7-under 65

USTIN QUIBAN wasted no time announcing his Philippine Golf Tour (PGT) comeback by braving blustery conditions while taking full advantage of a softened Summit Point layout to fire a seven-under 65 and grab a one-stroke lead over Angelo Que after Tuesday’s opening round of the ICTSI Summit Point Championship. Quiban combined solid driving with steady course management to emerge at the forefront of a high-scoring assault, birdieing two of his first three holes before recovering from a setback on No. 6 with a blistering finish. He birdied six of his last 10 holes, including a three-birdie binge from Nos. 13 to 15 and another birdie on the 18th that capped a 31 on the back nine. “I just had to make sure I was driving it well enough to keep myself in the fairway because, if it’s in the fairway, and given that it’s wet and we’re playing under winter rules, we get to fix our lies. But if you’re in the rough with mud balls, it’s so hard to hit the greens,” said Quiban, emphasizing the importance of distance control in such demanding conditions. “The strategy was to keep it in play and keep it in the fairway so I could get aggressive on my second shots, which

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

I somehow did. I hit it pretty close and made a couple of putts out there to end up shooting a 65,” added Quiban, whose confidence was evident throughout a round in which he repeatedly converted scoring chances despite the stiff breeze. Que, a proven winner and one of the tour’s most experienced campaigners, refused to let Quiban pull away in the Lipa City layout. Que matched the pace with a nearflawless 66, making the most of Summit Point’s more receptive conditions and particularly attacking the back nine, where he put together a solid 32 highlighted by an eagle on the par-5 five 14th. Aidric Chan, Jhonnel Ababa and Jeffren Lumbo also made strong starts, carding 68s to stay within three shots of the lead. Jerson Balasabas, Gabriel Manotoc and Mars Pucay followed with similar 69s as the P2.5-million championship immediately lived up to its billing as a highly charged battle for control. In all, 25 players broke par, underscoring how the softened course invited an aggressive approach despite the persistent wind that tested club selection, ball flight and distance control throughout the day. “While it may look that way, it still

and then by three points in the rings,” Castañeda said. “Next week, it’s going to be our routines and pre-evaluation. We need to improve in some apparatuses to strengthen and improve our individual all-around performance.” Yulo made his Asian Games debut in Jakarta 2018 and placed seventh in men’s floor exercise despite topping the qualification and was fourth in vault. Yulo and brother Karl Eldrew, along with Castañeda and physiotherapist Bethel Solano, are holding camp at the Tukushukai Gymnastics Training Facility in Tokyo and will proceed to Nagoya on September 17. The Philippines has yet to medal in Asian Games gymnastics.

Ababa up by 2 after 1st round at Summit Pt

JUSTIN QUIBAN: The strategy is to keep the ball in play and keep it in the fairway. NONIE REYES depends on the players,” Que said. “If you hit it bad, it’s nothing.” A large group shared ninth place at 70, including Asian Games-bound Carl Corpus, Tony Lascuña, Reymon Jaraula, Nilo Salahog, Russell Bautista, Michael Bibat, Marvin Dumandan, Japanese Ryoto Furuya, Randy Garalde and amateur Miguel Ilas.

ARAH ABABA emerged from a day of shifting fortunes and swirling winds to seize a two-stroke lead with a gutsy 71 at the start of the ICTSI Summit Point Championship in Lipa City on Tuesday. The reigning Ladies Philippine Golf Tour (LPGT) Order of Merit champion overcame an unsettled start with two quick birdies, then held her nerve through a demanding stretch of rainsoftened fairways and gusty conditions, stringing together a series of brave pars to finish as the unlikely leader at Summit Point Golf and Country Club. “In these conditions, you need to hit the fairway—especially since preferred lies are in effect—so you can attack the green and set up a good putt,” said Ababa, who lost in a sudden-death playoff at Lakewood, placed fourth at Caliraya Springs and finished fifth at Pinewoods. “My driving

Japanese para triathletes dominate Subic race

APAN won six of nine gold medals at stake in the 2026 NTT Asia Triathlon Para Championship in the Subic Bay Freeport Zone Sunday. The event was converted to duathlon (2.5-km run, 20-km bike and 5-km run) after prolonged heavy rains made the water conditions in Subic Bay unsafe. Keiichi Sato clocked one hour, one minute and eight seconds and Takumi Ando finished in 1:03:56 for a 1-2 Japanese finish with Uzbekistan’s

Bakhtiyor Murtazayev (1:05:01) clinching bronze in the men’s PTS5 (mild impairment) race that started and ended at Waterfront Road. “My weak point is swimming. I like running and biking so this is advantage for me,” said the 47-year-old Sato, who hails from Nagoya which will host the 20th Asian Games. “I plan to join more tournaments to qualify for the 2028 Los Angeles Paralympics, that is my goal,” added

Sato, who placed 11th at the 2016 Rio Paralympics. The other Japanese gold medalists in the tournament organized by Triathlon Philippines in cooperation with Subic Bay Metropolitan Authority were Yukako Hata (women’s PTS2), Masaki Fujita (men’s PTS3), Hideki Uda (men’s PTS4), Ryota Kashiki (men’s PT Visually Impaired) and Shiori Funamizu (women’s PT Wheelchair).

Not the end of the world W H AT happened? W hy t he ea rly e x it in t he US O pen? What happened was, Alex Eala blinked. Badly. When she wasn’t supposed to falter, she did. Twice, mind you. You begin to think: Has Iva Jovic become a curse? Jinx? Before Sunday’s defeat, Jovic, born in California to immigrants from Serbia (father) and Croatia (mother), had already beaten Eala. Twice. And Jovic is only 18. Eala 21. But on this Sunday, the way the 5-foot-8 Jovic played—at least in this third round of the season’s fourth and final Grand Slam—she was unbelievably undaunted. Too brave and so confident with her strokes, especially with her forehand that really did the most damage in the three-hour plus marathon. If Jovic was buoyed up by her 2-0, win-loss edge over the 5-foot-9 Eala prior to the match, I can give her that. But then, Eala had appeared ready to break the jinx as Jovic showed leaks in her armor. This all happened in the third and final set, after Eala had so brilliantly erased a 5-7 first-set loss by winning the second set at 6-3 for a 1-1 tie.

Ah, the second set. Racing quickly to a 3-1 edge on a break, Jovic fought back to within 3-4 after a thrilling battle of break-backs. But Jovic got stuck there as Eala broke back again in the eighth for a 5-3 lead on the American’s double-fault. And then Eala, speeding to a 40-30 edge, wrapped up the set when Jovic sent a forehand long on Alex’s first serve. Then came the third-set nightmare that saw Eala blow away 2-0 and 4-2 leads in the wink of an eye. She blinked big time like a boxer getting senselessly knocked out because he insanely dropped his guard. Eala bungled grabbing a 5-2 lead when she blew two break points that gifted Jovic a 3-4 lifeline. Jovic would break-back next before edging ahead 5-4 as Eala inexplicably succumbed to three successive unforced errors. Eala had her last stand when she bucked a match point to force a 5-all deadlock. But after Jovic erased a 15-30 deficit to impose a 6-5 margin on two crippling aces, she zoomed to a 40-15 edge before clinching the match 7-5 on Eala’s netted forehand.

SARAH ABABA strings a series of brave pars to finish as the unlikely leader after the first round. NONIE REYES has been extremely steady and my putting is solid,” added the veteran shotmaker from Davao, who skipped the fourth leg at Pradera Verde and returned to the Tour with renewed hunger following the long break. “I don’t really expect to lead. I just want to enjoy my game, especially since I missed the Pradera Verde leg,” said Ababa, who hopes to sustain the same steady form over the next two days and make a run at the championship of the P1-million event. Harmie Constantino, runaway winner at Caliraya Springs, carded a 73 to share second after mixing two birdies with three bogeys—she had a chance to move into solo second but gave back a stroke with a bogey on the difficult finishing hole. Tiffany Lee, a former winner at Splendido Taal, also ended with a 73 after an eventful round as she birdied her first two holes to take control but was quickly dragged back by a double bogey on the par-5 fifth and a bogey on the next. Lee regained her composure with a string of pars and birdied No. 15 to return to even par, only to bogey the challenging 18th and slip into a share of second.

Molina, Foxies fifth in Invitational

Farm Fresh’s Ces Molina scores against Ho Chi Minh City’s Nguyen Thi Hoai Mi as the Foxies score a 25-10, 25-15, 25-15 victory to secure fifth place in the Premier Volleyball League Invitational at the Smart Araneta Coliseum on Tuesday. PVL IMAGES

Painful, but still, it’s not the end of the world for Eala. She will move on, like normal mortals cognizant of the twists and turns of life. There’s the Asian Games waiting for Eala in Nagoya, Japan, beginning September 19—after seeing action in Singapore ending on September 18. An Asiad gold for Eala will give her an automatic slot to the 2028 Olympic Games in Los Angeles, California. And that’s not far-fetched, given that China’s defending Asian Games champion Zheng Qinwen and Japan’s Naomi Osaka aren’t in the Japan Asiad—both electing to play in the Beijing Open. Eala herself will always see her plates full. She has to learn to live with it. Hectic is a player’s schedule, but that’s how it is in professional tennis. Rest is a luxury. THAT’S IT Advance birthday greetings to Pareng Ramon Uy of Bacolod, the passionate exponent of organic farming, who celebrates on September 14. An accomplished inventor and innovator of farm equipment and implements with his flagship shredder for waste management, Pareng Ramon was recently cited by the nation’s distinguished association of engineers for his pioneering work in adroitly using steel in his unique brand of craftsmanship. Mabuhay ka, Pareng Ramon! Happy birthday!

Companies BusinessMirror

Editor: Jennifer A. Ng

Wednesday, September 9, 2026

US hyperscalers evaluating Luzon sites for operations T

SteelAsia project in Batangas gets nod

By Lorenz S. Marasigan

@lorenzmarasigan

WO hyperscalers headquartered in the United States are conducting due diligence on Philippine sites, each eyeing an initial capacity of about 200 megawatts (MW) over five years, as the government launched a master plan meant to strip away the guesswork that has slowed such investments. Department of Information and Communications Technology (DICT) Secretary Henry Aguda said the two firms, which he declined to name, have so far examined only the Bataan-Clark and Batangas-Aurora corridors identified in the Philippine Artificial Intelligence Infrastructure Master Plan (PAIIM) 2026-2033. “It’s mostly in Luzon,” Aguda told reporters on the sidelines of the launch of the master plan on Tuesday, adding that the two companies have

looked at those two corridors alone. Each is initially considering roughly 200 MW, he said, clarifying that it is “over a period of five years—it’s not in one go.” Aguda said the master plan compresses a process that normally takes hyperscalers six to nine months, when their technical teams arrive in the country and begin hunting for power, land and other requirements on their own. With the plan, he said, everything they need to check is already

mapped out along corridors, leaving them to simply choose. A hyperscaler typically looks for three locations in a country it enters, he added. Aguda recalled that other hyperscalers struggled to obtain information last year. That information now sits in the master plan, he said. Asked if the two firms could enter next year, Aguda said: “Fingers crossed. At least it accelerates their ability to decide right away on whether they’ll establish here or not.” He clarified that the corridors are not single sites. “It’s a corridor. Your power source can be in Bataan, but the facility is in Clark. Or your power source is Nueva Ecija, but the facility is in Clark,” Aguda explained, when asked whether Clark’s power supply could carry hyperscale demand on its own. Power, he said, is the most critical requirement for the locators.

No bidding yet

AUCTION for projects under the master plan has not started. “We need to find a locator first. If a locator is serious enough by this year, we might start it early next year,” Aguda said. Whether the two hyperscalers

will file public-private partnership (PPP) proposals is up to them, he said, explaining that a PPP applies when there is a public component. If a locator will serve the private sector, it need not submit one. Aguda said private capital makes the program more durable. Private contracts are usually multi-year and cross administrations, with Aguda saying: “So they’re not susceptible to political change.” The master plan is not funded under the General Appropriations Act (GAA). “Actually, it’s not in the GAA. It’s not in the 2027 GAA,” Aguda said, though supporting infrastructure, such as power and water, is already covered because plants built for the grid serve everyone. “What I’m aspiring for is next year, when the hyperscalers come in, no government funds go out. It’s all private investment for now.”

Investment requirement

PAIIM estimates a total investment requirement of $34.4 billion through 2033, DICT Director Gemma Baysic said in her presentation. Continued on B2

HE Philippines is set to establish its first manufacturing facility for medium steel sections, which it sources from other countries, after the Board of Investments (BOI) approved a P19.82billion SteelAsia project in Lemery, Batangas. The 72-hectare facility of SteelAsia Lemery Works Inc. in Barangay Mataas na Bayan will have an annual capacity of 500,000 metric tons and is targeted to begin commercial operations in January 2027. Once operational, the plant will produce H-beams, I-beams, C-channels, and equal and unequal angle sections used in buildings, bridges, power plants, industrial facilities and other infrastructure projects. The project is the first High-Value Domestic Market Enterprise registered under the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy Act, or CREATE MORE, according to the BOI. It was approved by the Fiscal Incentives Review Board (FIRB) under Tier II of the Strategic Investment Priority Plan, covering investments that address gaps in industrial value chains. “This is the kind of investment we want to encourage—one that helps us strengthen an industry that is critical to our infrastructure

ambitions and long-term economic development,” FIRB Chair and Finance Secretary Frederick D. Go said. The facility is expected to directly employ 656 workers by its third year of operations and generate an estimated P107.4 billion in sales during its first five years. Government estimates also project the project to contribute P45.58 billion in additional economic output, generate P23.63 billion in household income and support about 102,029 jobs across the economy. SteelAsia Chairman and CEO Benjamin O. Yao said the section mill project would help address the country’s dependence on imported structural steel. “As we accept this incentive package, we look forward to serving the needs of the Philippine market, start enabling downstream SMEs, and start saving billions of dollars through import substitution, reducing our huge trade deficit,” Yao said. The facility will use electric arc furnace steelmaking technology incorporating CONSTEEL Evolution technology developed by Italy-based Tenova. SteelAsia said the plant will run on renewable electricity and use locally sourced recyclable steel scrap. It will also employ wastewater treatment systems designed to recycle water and prevent wastewater discharge. Bless Aubrey Ogerio

Companies BusinessMirror

Wednesday, September 9, 2026

‘Fiscal perks to have limited impact on local EV output’

By Bless Aubrey Ogerio

@blessogerio

HE Philippines’s fast-growing electric vehicle (EV) market may not immediately translate into a production boom, with additional manufacturing incentives unlikely to significantly change the industry’s output in the next two years, according to BMI, a unit of Fitch Solutions. BMI senior analyst for autos Santiago Arieu told BusinessMirror that while incentives for EV and hybrid electric vehicle (HEV) manufacturing could encourage more local assembly and investment, the effect on production is likely to be “limited” in 2026 and 2027. “While such measures would probably not meaningfully transform the industry’s position in the near term (2026-2027), they could strengthen medium-term production growth by making the Philippines a more attractive destination for electrified vehicle manufacturing and related

supply-chain investment,” Arieu said in an email response. BMI expects EV penetration to increase to 17.3 percent in 2030 from 7.7 percent of vehicle sales in 2026. Its forecast covers battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs), excluding non-plug-in hybrids. The shift is expected to create room for new vehicle technologies even as sales of conventional internal combustion engine vehicles come under greater pressure. Chinese brands are also gaining ground in the market, with BMI citing BYD, VinFast, GAC Aion, Chery and MG as examples of manufacturers expanding through competitive pricing, improv ing products and wider electrified-vehicle offerings. Higher fuel costs are likewise encouraging consumers to consider vehicles with lower running costs, while tax incentives and a

growing charging network are helping raise awareness of EVs. But the growing market does not yet mean the country has the industrial base to support a major increase in local production. “We believe the biggest constraint is the relatively underdeveloped automotive and EV supplier ecosystem compared with regional competitors,” Arieu said. The Philippines will need more component manufacturers, suppliers and supporting industries before it can secure larger EV and HEV production commitments, he added. The gap is particularly important as the country competes with established automotive centers in the region for new electrified-vehicle investments. Data from the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA) showed that sales of BEVs, HEVs and PHEVs reached 38,286 units from January to July, up 136.4 percent from 16,195 units in the same period last year. Despite the surge, BMI expects the overall vehicle market to shrink 8.7 percent year-on-year to 423,750 units in 2026 as high fuel prices, inflation, weaker economic growth and elevated borrowing costs weigh on demand.

Holiday sales

THE final months of 2026 could provide some relief, but BMI does not expect a late-year pickup to fully reverse the local industry’s perceived weakness. Arieu told this newspaper that

stronger-than-expected demand during the ‘ber months’ could support vehicle production in the second half and result in a smaller decline than currently forecast. The main risks remain higher fuel prices linked to the US-Iran conflict, persistent inflation and financing costs. “If inflation remains elevated for longer than expected, the central bank may be forced to keep interest rates higher for longer,” BMI said in its latest report, noting that vehicle purchases in the Philippines are heavily dependent on financing. “This would further reduce vehicle affordability and could delay the sales recovery we expect from 2027.” Slower implementation of infrastructure projects could also weigh on commercial vehicle demand by reducing activity in construction, logistics and related sectors. BMI, however, expects the market to return to growth in 2027, with total vehicle sales forecast to rise 6.6 percent to 451,717 units. Growth is projected at 6 percent in 2028, 5.5 percent in 2029 and 4.9 percent in 2030, bringing annual sales to 529,836 units. For the commercial vehicle market, which includes crossovers, sport utility vehicles and pickup trucks, BMI expects volumes to increase from 336,105 units in 2026 to 414,739 units in 2030, equivalent to average annual growth of 5.4 percent. A faster easing cycle, stronger economic growth or a larger-thanexpected expansion of affordable Chinese vehicle offerings could improve affordability and speed up the recovery.

US hyperscalers evaluating Luzon sites for operations Continued from B1

Of that, about $13.5 billion is expected from public investment and around $21 billion from the private sector. Some $18.2 billion is already associated with existing national programs, particularly connectivity and energy, leaving an incremental requirement of roughly $16.3 billion—about $6.2 billion public and $10 billion private. The largest share, about $14.6 billion, goes to AI compute and data centers. “Government’s role is not necessarily to build and operate everything itself, but deploy public resources so that we can crowd in much larger private investment,” Baysic said. “Government builds the foundation, the private sector helps build and scale.” The plan targets 1.5 gigawatts of AI data center capacity by 2033, from an estimated baseline of only around 50 MW. It also seeks to prepare the country’s 1.3 million information technology and business process management (IT-BPM) professionals for AI-enabled services while generating more than 500,000 AIrelated jobs. “PAIIM does not envision AI replacing the Philippine workforce,” Baysic said. “The objective is to help our workforce move up the value chain, allowing AI to handle repetitive and data-intensive functions, while Filipino talent increasingly moves towards complex, creative, analytical, and high-value work.” The plan is organized around six pillars: connectivity infrastructure; AI compute and data centers; energy, water and sustainability; AI workforce and development; policy and regulation; and demand creation.

Its corridor-based architecture deliberately avoids concentrating capacity in Metro Manila. Clark-Bataan is envisioned as the primary anchor, combining hyperscale-ready land, energy infrastructure and west-facing international connectivity. Batangas-Aurora is designed as a dual-coast international gateway, with Batangas facing Southeast Asia and Aurora’s Pacific geography opening opportunities for trans-Pacific systems toward Northeast Asia and North America. Subic and Calabarzon are positioned as supporting hubs, with Cebu, Iloilo and Davao City in the pipeline as future regional nodes. Baysic said the Philippines is at par with Singapore and just behind Thailand in AI policy capacity, placing it second in the Association of Southeast Asian Nations—but that the benchmarking exercise also exposed under-provisioned AI infrastructure as the country’s biggest gap. Aguda said the plan is an “answer” to warnings that the Philippines is lagging in the regional AI buildout. From a policy and regulatory standpoint, he said, the country ranks high. What it lacks is actual infrastructure. If the country does not build it, he said, it will be left behind.

Competition

THE biggest risk to the plan, according to Aguda, is that other countries are chasing the same investors. “We’re competing with other countries. Our challenge is there are countries like Thailand, Vietnam, Indonesia. They also want to court the same hyperscalers that we’re trying to court,” he said. “Other than that, we’re ready. The issue will just be how the other countries prepare for it.”

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

September 8, 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 PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FIRST ABACUS FERRONOUX HLDG LMG CORP MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

53 119.9 10.6 103.9 52.85 10.1 64.45 6.93 14.78 76.5 51.15 22.8 63.8 23.3 0.495 1.39 0.5 4.15 0.32 0.115 2,610 1.42 210 4,802 1.21

53.05 120 10.78 104.7 52.9 10.14 64.5 6.95 14.8 76.55 52.4 23 64 23.45 0.52 1.4 0.54 4.18 0.37 0.118 2,650 1.43 211 4,860 -

52.4 120 10.8 105.2 53 10.14 64.6 6.99 14.78 76.8 52.7 22.9 64.65 23.6 0.5 1.45 0.5 4.15 0.315 0.118 2,650 1.41 209 4,802 0.86

53.6 120.3 10.8 105.2 53.15 10.14 64.75 6.99 14.78 77 52.7 22.9 64.65 23.6 0.5 1.46 0.5 4.15 0.37 0.118 2,650 1.43 211 4,802 1.21

52.4 119.9 10.52 103.9 52.7 10 64.25 6.93 14.78 76.05 51.05 22.8 63.7 23.45 0.5 1.39 0.5 4.15 0.315 0.118 2,650 1.36 209 4,802 0.86

53.05 120 10.78 103.9 52.9 10.14 64.5 6.93 14.78 76.5 52.4 22.8 64 23.45 0.5 1.39 0.5 4.15 0.37 0.118 2,650 1.42 211 4,802 1.21

136,650 3,863,000 10,100 573,710 574,770 542,100 1,904,590 13,800 5,000 257,860 2,680 20,000 36,630 78,300 2,000 106,000 31,000 14,000 250,000 30,000 5 1,795,000 2,070 5 30,760,000

7,239,328 463,555,509 107,472 59,799,431 30,406,950 5,463,814 122,861,717 96,178 73,900 19,725,543 137,293 457,000 2,340,541 1,837,095 1,000 151,710 15,500 58,100 81,250 3,540 13,250 2,531,400 434,290 24,010 35,918,900

-1,358,779 -52,463,198 11,192,687 -16,918,168 2,398,966 -11,937,483 20,242 44,340 -6,113,280 19,386 9,079 -23,450 1,994,040 423,780 24,010 -15,998,700

INDUSTRIAL ACEN CORP 2.66 2.69 2.68 2.7 2.65 2.69 3,942,000 10,539,850 -844,090 1.13 1.14 1.09 1.18 1.06 1.13 19,653,000 22,382,050 -211,360 ALSONS CONS 0.73 0.74 0.73 0.75 0.73 0.74 423,000 312,960 180,560 ALTERNERGY HLDG 45.3 45.4 45.75 45.85 45.1 45.4 1,516,500 68,913,510 23,055,345 ABOITIZ POWER RASLAG 1.13 1.14 1.12 1.19 1.12 1.13 502,000 569,640 -4,680 BASIC ENERGY 0.11 0.11 0.109 0.108 0.107 0.11 1,580,000 169,560 4.84 4.88 4.84 4.9 4.84 4.88 51,000 248,820 CITICORE RE 26.15 26.4 27.05 27.05 25.95 26.15 1,302,700 34,179,775 -8,610,910 FIRST GEN 99.4 99.75 102.9 102.9 99.3 99.75 64,210 6,425,013 -1,086,734 FIRST PHIL HLDG 478.2 480 482 477 478.2 157,890 75,715,208 -13,811,666 MERALCO 479.8 MANILA WATER 35.7 35.8 36 36 35.7 35.7 171,100 6,126,165 -1,996,340 MAYNILAD 18.88 18.66 18.68 18.78 18.66 18.68 2,127,900 39,877,918 -1,080,380 PETRON 2.28 2.26 2.28 2.3 2.24 2.26 3,269,000 7,392,680 -17,730 4.09 4.19 4.18 4.17 4.18 232,000 967,990 PETROENERGY 4.18 15.2 15.2 15.2 15.28 300 4,568 3,040 PRYCE CORP 15.28 15.28 9.7 9.74 9.8 9.8 9.72 9.75 1,300 12,671 -5,832 REPOWER ENERGY SEMIRARA MINING 17.78 17.9 17.7 18.02 17.54 17.78 1,128,000 20,191,190 3,122,586 SYNERGY GRID 25.55 25.7 25.65 25.9 25.55 25.55 990,000 25,413,005 -4,035,025 SHELL PILIPINAS 8.01 8.12 8.28 8.28 7.91 8.12 374,000 3,024,816 -837,360 9.6 9.65 9.65 9.66 13,900 134,207 SPC POWER 9.66 9.66 1.21 1.22 1.22 1.23 1.21 1.21 9,273,000 11,255,050 -790,680 SP NEW ENERGY 1.69 1.7 1.72 1.75 1.69 1.69 656,000 1,122,510 -35,950 TOP LINE 2.9 2.92 2.92 2.95 2.85 2.92 1,619,000 4,638,900 -140,270 AXELUM BALAI FRUITAS 0.305 0.315 0.305 0.305 0.305 0.305 50,000 15,250 3,050 CNTRL AZUCARERA 9.3 9.79 9.3 9.3 9.3 9.3 3,100 28,830 31.85 32.5 32 32.65 31.85 31.85 682,400 22,128,430 -5,072,090 CENTURY FOOD 3.67 3.82 3.62 3.81 19,000 70,860 -7,760 DEL MONTE 3.82 3.82 3.53 3.54 3.6 3.6 3.53 3.54 1,975,000 7,016,020 510,910 DNL INDUS 15.28 15.3 15.48 15.28 15.28 2,401,400 36,784,744 -7,164,640 EMPERADOR 15.38 SMC FOODANDBEV 46.5 46.6 46.85 46.85 46.6 46.6 126,800 5,930,010 -5,281,040 FIGARO GROUP 0.62 0.62 0.61 0.62 0.6 0.62 131,000 79,760 -660 ALLIANCE SELECT 0.3 0.3 0.295 0.3 0.3 0.3 100,000 30,000 0.63 0.64 0.63 0.64 1,046,000 664,690 0.64 0.64 FRUITAS HLDG 231 231 231 232 128,820 29,884,002 -8,808,962 GINEBRA 232 232 151.7 152 151 149.7 152 185,410 28,130,616 2,914,409 JOLLIBEE 152.8 KEEPERS HLDG 1.88 1.88 1.86 1.86 1.85 1.88 337,000 629,750 76,840 LIBERTY FLOUR 21.6 22 22 22 21 22 13,400 282,540 2,100 MAXS GROUP 2.12 2.15 2.12 2.2 2.12 2.12 35,000 74,360 12,720 0.07 0.073 0.07 0.07 0.07 0.07 30,000 2,100 MG HLDG 6.85 6.94 6.81 6.95 6.81 6.85 1,206,200 8,293,471 2,143,453 MONDE NISSIN 5.45 5.48 5.5 5.5 5.48 5.48 27,300 149,748 SHAKEYS PIZZA ROXAS AND CO 2.45 2.61 2.58 2.63 2.44 2.61 7,000 17,900 5.25 5.26 5.26 5.28 5.25 5.26 339,400 1,784,353 -961,617 RFM CORP UNIV ROBINA 58.85 58.9 58.9 59 58.6 58.9 719,660 42,380,064 323,856 VITARICH 0.52 0.52 0.5 0.51 0.51 0.51 17,000 8,810 1.99 2 1.9 1.9 1.99 14,000 27,410 9,500 1.99 VICTORIAS 0.41 0.415 0.415 0.42 0.41 0.41 1,500,000 623,700 ATN HLDG A 0.41 0.415 0.415 0.415 0.415 0.415 850,000 352,750 ATN HLDG B CONCRETE A 58.05 58.05 54.05 58.05 58.05 58.05 10 581 59.95 59.95 54.05 59.95 59.95 59.95 20 1,199 CONCRETE B 1.31 1.32 1.3 1.34 1.26 1.33 1,855,000 2,416,460 -399,000 CONCREAT HLDG 1.85 1.92 1.88 1.94 1.88 1.92 13,000 24,720 -1,880 EEI CORP 5.2 5.3 5.3 5.12 5.24 1,007,700 5,217,629 -703,335 MEGAWIDE 5.24 14.02 14.1 14.1 14.1 14.1 100 1,410 PHINMA 14.88 CROWN ASIA 1.93 1.93 1.9 1.87 1.87 1.92 87,000 167,290 1.1 1.16 1.11 1.16 1.11 1.16 5,000 5,600 EUROMED 11.02 11.1 10.96 11.02 10.96 11.02 57,300 629,938 627,740 CONCEPCION 0.159 0.167 0.169 0.157 0.165 1,250,000 201,270 -13,120 GREENERGY 0.164 8.24 8.5 8.05 8.24 7,085,800 58,736,684 4,490,055 INTEGRATED MICR 8.25 8.64 2.81 2.82 2.86 2.95 2.78 2.81 4,435,000 -2,068,110 IONICS 12,696,580 PANASONIC 7.12 7.27 7.23 7.27 7.03 7.27 4,000 28,247 1.51 1.52 1.51 1.58 1.46 1.52 13,987,000 21,427,740 -1,256,070 CIRTEK HLDG STENIEL 1.98 1.98 2 1.98 1.98 1.98 8,000 15,840

HOLDING & FRIMS

ABACORE CAPITAL 0.33 0.335 0.34 0.345 0.33 0.335 2,330,000 780,750 13,400 60.5 60.55 60.4 61.9 60.05 60.5 660,240 40,018,775 14,476,244 ASIABEST GROUP 502 500 496.6 510 160,360 81,516,731 -17,157,847 AYALA CORP 510 510 36.75 37.35 37.05 38 36.75 36.75 2,324,000 85,876,650 33,319,330 ABOITIZ EQUITY ALLIANCE GLOBAL 9 9.04 9.2 9.2 8.98 9 2,728,000 24,581,269 -21,230,668 ANSCOR 17.28 17.24 17 17.24 16.7 17.24 18,700 319,058 290,604 ANGLO PHIL HLDG 1.45 1.47 1.41 1.52 1.4 1.45 2,977,000 4,353,410 -66,870 7.85 7.86 7.8 7.85 7.85 318,800 1,172,221 COSCO CAPITAL 7.68 2,473,485 7.89 7.91 7.93 8.05 7.86 7.89 2,877,000 22,809,149 -7,793,030 DMCI HLDG 3.62 3.65 3.67 3.69 3.65 3.65 25,000 91,900 18,350 FILINVEST DEV FJ PRINCE A 2.35 2.67 2.66 2.67 2.66 2.67 2,000 5,330 0.275 0.315 0.31 0.335 0.31 0.315 150,000 47,250 FORUM PACIFIC 486 490.2 498.6 498.6 486 486 39,710 19,410,740 -5,900,412 GT CAPITAL 4.71 4.97 4.94 4.94 4.94 4.94 1,000 4,940 HOUSE OF INV 20.5 20.8 20.95 20.95 20.5 20.5 486,300 10,074,570 -1,837,565 JG SUMMIT 0.345 0.365 0.365 0.365 20,000 7,300 LODESTAR 0.365 0.365 LOPEZ HLDG 5.5 5.5 5.49 5.5 5.49 5.5 73,400 403,058 -21,960 LT GROUP 15 15.02 15.02 15.06 14.92 15 1,708,200 25,628,070 -336,706 MABUHAY HLDG 0.155 0.178 0.142 0.208 0.142 0.178 470,000 86,450 -2,020 0.86 0.88 0.86 0.86 0.85 0.85 6,000 5,110 PACIFICA HLDG 1.03 1.12 1.13 1.13 1.13 1.13 16,000 18,080 PRIME MEDIA 1.17 1.15 1.15 1.2 58,000 68,280 2,340 SOLID GROUP 1.2 1.2 558 558.5 560 563 558.5 558.5 139,570 78,147,680 -11,313,880 SM INVESTMENTS SAN MIGUEL CORP 62 62.1 62.1 62.2 61.5 62 230,000 14,249,325 -3,504,027 TOP FRONTIER 52 55 52.8 54.5 52 54.5 5,550 291,535 -4,905 PROPERTY ARTHALAND CORP 0.44 0.465 0.465 0.465 0.465 0.465 500,000 232,500 14.94 14.98 15.08 15.08 14.92 14.94 8,133,800 121,723,778 -38,284,614 AYALA LAND 1.16 1.17 1.16 1.18 1.15 1.16 69,000 79,910 20,630 AYALA LAND LOG 12.02 12.44 12.5 12.5 12.46 12.46 200 2,496 ALTUS PROP AREIT RT 36.9 37.15 37.5 37.5 36.9 36.9 814,000 30,233,665 -10,359,520 A BROWN 0.8 0.8 0.78 0.77 0.75 0.8 165,000 130,780 0.6 0.61 0.6 0.62 0.57 0.61 11,000 6,490 1,630 CITYLAND DEVT 0.089 0.089 0.089 0.091 310,000 27,890 CROWN EQUITIES 0.091 0.091 2.05 2.06 2.1 2.1 2.05 2.05 72,000 147,900 CEB LANDMASTERS 0.63 0.64 0.62 0.64 1,264,000 807,320 -1,920 CENTURY PROP 0.64 0.64 CITICORE RT 3.19 3.2 3.23 3.24 3.18 3.2 1,322,000 4,235,910 -2,070,760 DOUBLEDRAGON 12.08 11.98 12 12.08 11.94 11.98 89,400 1,070,970 -2,406 DDMP RT 1.04 1.04 1.03 1.04 1.03 1.03 551,000 571,190 -1,040 4.8 4.99 4.8 4.9 4.8 4.9 6,000 29,300 DM WENCESLAO 0.026 0.027 0.027 0.028 3,100,000 83,800 EVERWOODS 0.028 0.028 0.098 0.099 0.099 0.101 0.098 0.099 1,480,000 147,170 8,910 EMPIRE EAST FILINVEST RT 2.89 2.89 2.88 2.89 2.88 2.89 274,000 790,330 -230,380 FILINVEST LAND 0.68 0.69 0.68 0.69 0.68 0.69 28,000 19,210 2,710 GLOBAL ESTATE 0.61 0.62 0.63 0.63 0.63 0.63 8,000 5,040 1.7 1.83 1.84 1.84 1.84 23,000 42,320 -3,680 1.84 JACKSTONES 2.41 2.51 2.44 2.53 2.4 2.51 102,000 246,880 -80 KEPPEL PROP 2.24 2.25 2.23 2.24 3,761,000 8,441,770 -888,870 MEGAWORLD 2.26 2.26 0.69 0.7 0.71 0.71 0.69 0.7 11,430,000 8,001,870 -28,000 MRC ALLIED MREIT RT 13.8 13.82 13.8 13.86 13.8 13.82 450,500 6,230,470 2,866,898 OMICO CORP 0.104 0.104 0.102 0.104 0.104 0.104 230,000 23,920 0.173 0.182 0.185 0.185 0.172 0.182 1,030,000 182,280 -3,700 PRMIERE HORIZON 0.39 0.415 0.415 0.42 0.39 0.39 230,000 95,250 PHIL ESTATES 5.01 5.03 5.01 5.01 5.01 5.01 100 501 PHIL RACING 1.02 1.03 1.01 1.03 67,000 68,950 PREMIERE RT 1.03 1.03 PRIMEX CORP 0.98 1.08 0.97 1.09 0.97 1.09 12,000 12,830 -110 RL COMM RT 6.74 6.75 6.85 6.88 6.74 6.75 9,610,200 65,283,995 -12,300,151 ROBINSONS LAND 17.3 17.34 17.62 17.62 17.3 17.34 646,200 11,212,548 -209,180 2.96 3.01 3 2.96 2.96 218,000 647,990 -6,080 ROCKWELL 3.03 3.27 3.25 3.2 3.28 61,000 199,010 -114,800 SHANG PROP 3.28 3.28 1.87 1.9 1.95 1.95 1.86 1.87 26,000 48,670 STA LUCIA LAND SM PRIME HLDG 18.4 18.42 18.26 18.48 18.12 18.4 4,172,600 76,785,170 26,826,284 SUNTRUST RESORT 0.41 0.415 0.41 0.41 0.41 0.41 330,000 135,300 4,100 SERVICES ABS CBN 3.63 3.65 3.65 3.65 3.61 3.65 191,000 693,920 3.99 4 3.95 4 432,000 1,723,400 GMA NETWORK 4 4 0.178 0.187 0.188 0.188 0.188 0.188 20,000 3,760 MANILA BULLETIN 5.04 5.27 5.03 5.04 5.03 5.04 900 4,528 MLA BRDCASTING DITO CME HLDG 0.66 0.67 0.66 0.67 0.65 0.67 7,501,000 4,957,520 215,510 GLOBE TELECOM 1,583 1,590 1,609 1,619 1,583 1,583 43,645 69,477,500 -2,921,895 PLDT 1,140 1,130 1,131 1,140 1,114 1,130 76,870 86,535,255 -10,840,485 0.0061 0.0062 0.0061 0.0062 30,000,000 185,600 62,000 APOLLO GLOBAL 0.0062 0.0062 9.1 9.15 9.14 9.23 9.08 9.1 8,315,700 -39,804,838 CONVERGE 75,800,554 0.65 0.7 0.7 0.7 10,000 7,000 -7,000 DFNN INC 0.7 0.7 EASYCALL 3.08 2.91 2.31 3.12 2.31 3.1 53,000 152,560 -20,750 ISLAND INFO 0.13 0.133 0.135 0.135 0.128 0.135 3,810,000 506,850 0.425 0.435 0.445 0.45 0.42 0.425 760,000 326,000 -30,950 NOW CORP 0.116 0.119 0.116 0.116 0.116 0.116 250,000 29,000 TRANSPACIFIC BR 0.86 0.93 0.87 0.86 0.86 47,000 40,500 CHELSEA 0.87 27.6 27.7 27.6 27.6 101,300 2,796,490 -369,930 CEBU AIR 27.7 27.7 INTL CONTAINER 955 957 945 962 940 957 973,630 930,004,300 418,946,475 LBC EXPRESS 7.07 7.76 7.06 7.76 7.06 7.76 500 3,810 -776 LORENZO SHIPPNG 0.65 0.7 0.66 0.69 0.65 0.69 6,000 4,000 3.75 3.76 3.84 3.76 3.76 1,062,000 4,043,460 -1,769,990 3.84 MACROASIA 2.96 2.96 2.92 3 698,000 2,066,230 113,230 PAL HLDG 3 3 1.95 1.96 2 2 1.92 1.96 2,318,000 4,497,400 163,240 HARBOR STAR 1.39 1.48 1.39 1.39 1.39 1.39 1,000 1,390 ACESITE HOTEL BOULEVARD HLDG 0.033 0.036 0.036 0.037 0.033 0.033 14,000,000 478,400 0.92 0.95 0.94 0.96 0.92 0.92 157,000 148,570 -940 DISCOVERY WORLD GRAND PLAZA 5.01 5.03 5.01 5.02 5.01 5.02 1,000 5,019 0.234 0.239 0.2 0.28 0.2 0.239 29,720,000 7,096,000 457,440 PH RESORTS GRP 0.405 0.4 0.4 0.4 0.4 60,000 24,000 WATERFRONT 0.445 15.1 14.92 14.92 15.1 10,300 155,528 CENTRO ESCOLAR 15.16 15.16 IPEOPLE 6.92 7.26 6.74 7.26 6.74 7.26 300 2,091 1.3 1.32 1.3 1.33 1.3 1.32 390,000 511,780 436,720 STI HLDG BELLE CORP 1.13 1.14 1.15 1.15 1.13 1.14 1,239,000 1,412,010 46,000 2.32 2.34 2.33 2.41 2.31 2.34 17,604,000 41,715,900 -15,145,760 BLOOMBERRY 1.58 1.71 1.58 1.58 1.58 1.58 30,000 47,400 PACIFIC ONLINE 9.37 9.38 9.34 9.55 9.32 9.38 4,303,200 -5,504,143 DIGIPLUS 40,519,586 BERJAYA 8.34 8.34 9 8.34 8.34 8.34 200 1,668 1.07 1.08 1.08 1.09 1.08 1.08 75,000 81,310 METRO RETAIL 40.75 41 40.15 41 40 40.75 1,482,600 60,002,370 -4,762,280 PUREGOLD 32.15 32.2 32.75 32.75 32.05 32.2 571,600 18,401,200 -7,863,790 PHIL SEVEN CORP 2.1 2.12 2.13 2.13 2.1 2.1 12,000 25,390 SSI GROUP 0.84 0.85 0.81 0.88 0.81 0.86 1,019,000 865,880 -60,160 UPSON INTL CORP WILCON DEPOT 5.78 5.8 5.88 5.88 5.78 5.8 386,100 2,251,070 10,976 APC GROUP 0.102 0.111 0.106 0.113 0.102 0.11 1,040,000 107,140 -80 IPM HLDG 1.96 2.05 1.96 1.96 1.96 1.96 11,000 21,560 0.232 0.228 0.223 0.23 0.222 0.23 170,000 37,930 MEDILINES 3.41 3.6 3.59 3.59 3.4 3.41 71,000 243,870 PAXYS 1.62 1.64 1.62 1.62 1.62 1.62 3,000 4,860 PHILCOMSAT 3 3.05 3.05 3.05 3 3 47,000 141,180 6,000 SBS PHIL CORP MINING & OIL ATOK 1.89 2.05 1.97 1.97 1.97 1.97 9,000 17,730 16.78 16.8 17.5 17.66 16.8 16.8 8,355,700 143,246,074 35,937,952 APEX MINING 23 21.45 21.25 23.05 8,617,200 192,953,420 53,073,240 ATLAS MINING 23.05 23.05 BENGUET A 7.61 7.75 7.68 7.77 7.6 7.75 244,300 1,863,753 7.63 7.77 7.78 7.78 7.61 7.61 1,200 9,261 -3,044 BENGUET B CENTURY PEAK 2.27 2.27 2.05 2 2 2.27 53,000 109,170 10,680 4.24 4.78 4.78 4.78 1,000 4,780 DIZON MINES 4.78 4.78 0.36 0.385 0.355 0.39 0.355 0.385 2,960,000 1,092,100 -74,050 EC VULCAN 2.56 2.55 2.63 2.47 2.57 13,026,000 33,570,930 134,450 FERRONICKEL 2.57 GEOGRACE 0.108 0.11 0.111 0.111 0.108 0.108 770,000 83,220 0.248 0.249 0.25 0.255 0.248 0.249 20,580,000 5,140,900 LEPANTO A 0.245 0.248 0.243 0.249 0.243 0.248 1,310,000 325,710 249,000 LEPANTO B 0.0089 0.009 0.009 0.009 0.009 0.009 35,000,000 315,000 MANILA MINING A 0.86 0.87 0.81 0.8 0.87 7,309,000 6,128,270 730,080 MARCVENTURES 0.88 0.64 0.57 0.55 0.65 218,000 135,930 NIHAO 0.65 0.65 NICKEL ASIA 4.72 4.73 4.59 4.78 4.59 4.72 11,621,000 54,820,780 -30,444,810 OCEANAGOLD 37.65 37.1 37.2 37 36.7 37.1 678,100 25,301,110 -13,104,285 ORNTL PENINSULA 0.61 0.62 0.62 0.63 0.59 0.61 1,953,000 1,191,700 11.72 11.74 11.5 11.8 11.38 11.74 6,427,900 74,761,914 2,845,494 PX MINING 0.0088 0.0092 0.0088 0.0094 0.0088 0.0093 13,000,000 118,400 -28,200 UNITED PARAGON 3.26 3.26 3.26 3.27 7,000 22,860 ENEX ENERGY 3.27 3.27 0.014 0.015 0.015 0.015 0.014 0.014 5,300,000 78,700 ORNTL PETROL A PHILODRILL 0.0092 0.0093 0.009 0.0093 0.0089 0.009 77,000,000 696,900 89,600 PXP ENERGY 3.2 3.23 3.25 3.3 3.19 3.21 601,000 1,945,900 PREFFERED ACEN PREF A 990 1,000 990 990 990 990 670 663,300 1,022 1,038 1,022 1,025 1,022 1,022 835 853,620 ACEN PREF B 2,472 2,496 2,474 2,474 2,472 2,472 155 383,310 136,070 AC PREF AR 1,948 1,950 1,947 1,950 1,947 1,950 430 838,305 AC PREF B3R AC PREF B4R 1,935 1,949 1,950 1,950 1,949 1,949 730 1,423,015 99 99.8 99 99 99 99 10 990 BRN PREF A 101.5 102.5 102.5 102.5 102.5 102.5 20 2,050 BRN PREF C 28.4 28.65 28.7 28.7 28.7 28.7 200 5,740 CEB PREF 970 985 977 985 977 985 150 147,110 CLI PREF A1 1,000 1,010 1,005 1,005 1,005 1,005 110 110,550 CLI PREF A2 DD PREF 93.5 94.85 94.4 94.95 94.4 94.55 12,090 1,144,221 95.2 97.4 96.5 96.5 96 96 21,500 2,069,000 EEI PREF B 990 995 995 995 995 995 100 99,500 FDC PREF B 991 998 997 997 997 997 350 348,950 GTCAP PREF B 99.1 100.6 100.5 100.5 100.5 100.5 1,000 100,500 MWIDE PREF 6A 103.1 104 104 104 104 104 200 20,800 MWIDE PREF 6C MWIDE PREF 7A 99.05 100.6 100 100 100 100 100 10,000 99.6 101 99.55 99.55 99.55 99.55 10 996 MWIDE PREF 7B 962 970 970 970 960.5 960.5 530 509,350 -29,100 PCOR PREF 4D 77.35 80 80 80 79.8 79.8 520 41,500 SMC PREF 2L 77.2 78.8 78.9 78.9 78.9 78.9 40 3,156 SMC PREF 2N 79.5 79.95 79.5 79.5 79.5 79.5 1,930 153,435 SMC PREF 2O 75 75.5 74.5 75 74.5 75 1,690 125,955 SMC PREF 2P SMC PREF 2Q 73.15 76 76 76 76 76 10 760 74 75 74.95 74.95 74.95 74.95 50 3,748 SMC PREF 2S 75 76.2 76.3 76.3 76.2 76.2 1,100 83,920 SMC PREF 2U 78.25 78.65 78 78.25 78 78.25 1,450 113,443 SMC PREF 2V 77.9 78.05 78 78.05 77.9 77.9 1,590 123,883 SMC PREF 2W 79 79.8 79.9 79.9 79.8 79.8 2,850 227,449 11,978 SMC PREF 2X TOP PREF A1 100.2 100.5 100.2 100.4 100.2 100.4 310 31,102 101.8 102 102 102.5 102 102.5 510 52,270 TOP PREF A2

PHIL. DEPOSITARY RECEIPTS

ABS HLDG PDR GMA HLDG PDR

WARRANTS

AGI WARRANT

3.36 4

3.46 4.23 4 4 4 4 30,000 120,000

1.05

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

HAUS TALK ITALPINAS KEPWEALTH LFM PROP MAKATI FINANCE XURPAS NEXGEN ENERGY

1.37 0.63 1.59 0.021 1.86 0.218 2.6

1.13

1.4 0.67 1.7 0.023 2.17 0.225 2.64

1.39 0.68 1.69 0.022 1.9 0.22 2.64

1.4 0.69 1.69 0.022 1.9 0.226 2.64

1.38 0.64 1.59 0.022 1.9 0.217 2.64

1.4 0.68 1.59 0.022 1.9 0.226 2.64

191,000 84,000 14,000 200,000 1,000 200,000 5,000

264,080 54,610 22,660 4,400 1,900 43,970 13,200

34,500 1,850 -5,280

EXHANGE TRADE FUNDS FIRST METRO ETF

103.3

103.8

103.1 103.8 103.1 103.8 2,010 207,901 36,085

www.businessmirror.com.ph

Entrepreneur BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, September 9, 2026 B3

DOST-PTRI launches ONWARD initiative to boost local nonwoven textile industry

By Rizal Raoul S. Reyes

@brownindio

HE Department of Science and Technology–Philippine Textile Research Institute (DOSTPTRI) is opening a new frontier for Philippine entrepreneurship as nine local manufacturers and industry partners adopt locally developed nonwoven textile technologies for applications ranging from furniture and fashion to transportation, agriculture, construction and healthcare. Launched under ONWARD: Philippine Nonwoven Textile Innovations, the initiative demonstrates how Philippine natural fibers can be transformed into higher-value materials and products, expanding the country’s textile industry beyond conventional woven fabrics. The program brings together science, manufacturing and entrepreneurship, giving local businesses opportunities to develop new products using nonwoven materials made from locally available fibers. The nine participating manufacturers and industry collaborators showcased commercial applications of DOST-PTRI’s technologies during its official launch of ONWARD on

July 1 at SM North Edsa. In the furniture and interior design sector, Jed Yabut Furniture & Design incorporated banana-based nonwoven materials into chair cushions and pineapple-based nonwoven fibers into decorative twine. The company is also exploring the use of the materials in table panels, lampshades and leather-like strips for chairs. La Likha used nonwoven materials for sofa backings and is exploring them as alternatives to conventional foam and synthetic leather. JunkNot, meanwhile, incorporated the materials into chair cushions, home furnishings and décor pieces, demonstrating their potential for

How good can you go?

environmentally conscious design. The technology is also finding applications in transportation. Sarao Motors, one of the country’s best-known jeepney manufacturers, demonstrated how nonwoven materials could reinforce jeepney seat upholstery and cushions, potentially improving durability and passenger comfort. The company is also exploring applications for dashboards, ceiling panels and door components. In agriculture, Fivecent Global Corporation showcased nonwoven materials for packaging and plant and fruit mulching, pointing to opportunities for locally developed textile technologies beyond traditional consumer products. Fashion designer Renz Reyes demonstrated the potential of nonwovens in apparel, while longtime DOST-PTRI partner Creative Definitions incorporated the materials into shoe uppers and insoles. The fashion-accessory sector is another potential growth area. Fashion Accessory Makers of the Philippines (FAMPh) developed applications including bag linings, laptop and tablet sleeves, jewelry and hair accessories. Meanwhile, Base Bahay Foundation Inc. is exploring the use of nonwoven materials in innovative construction systems, further demonstrating the technology’s potential to enter industries beyond fashion and textiles. For Filipino entrepreneurs, the significance of these applications lies in the ability to turn locally sourced

lence requires the ability to produce strong results repeatedly across changing conditions. Build the routines, skills, discipline, and recovery practices that make outstanding performance less accidental. Brilliance may create memorable moments, but consistency builds a trusted reputation. Choose consistency over occasional brilliance—and work toward making brilliance consistent.

Remain Coachable as You Become Successful

LEX EALA’S coach, Joan Bosch, recently shared a powerful thought about the Filipina tennis star: “Alex is very good. The question of how good she can be nobody knows.” His focus was not simply on rankings, trophies, or one outstanding tournament, but on how consistently she would continue giving her best and becoming better. The same thought should challenge every sales leader. At some point, you will reach a milestone you once worked hard for—a quota achieved, an award received, a promotion earned, or a level of success that once seemed beyond you. Will you turn that achievement into your comfort zone—or use it as the starting point for something greater? So, how good can you go? Here are five ways to keep finding out.

Do not turn a milestone into a ceiling

CELEBR ATE what you have achieved, but do not allow it to define the highest level you can reach. A milestone proves what you were capable of producing at one point in your journey. It should build confidence, not create complacency. Yesterday’s breakthrough can quickly become today’s comfort zone. Let success become evidence of your potential—not a boundary around it.

Do not let the ranking fool you

YOU can be the team’s top seller and still fail to achieve your target. Ranking first only means that you performed better than everyone else; it does not necessarily mean that you performed well enough. Compare your results with the required standard, the value created for customers, and your own previous performance. Recognition should affirm progress without hiding the gaps that still need attention. Do not merely ask, “Am I better than the others?” Ask, “Am I becoming better than I was?”

Find the next performance gap

SUCCESS can make weaknesses easier to ignore. After every achievement, examine what still needs improvement, what nearly failed, and where performance remains inconsistent. Review the numbers, customer outcomes, conversion rates, lost opportunities, and processes behind the result. Excellence grows when people keep identifying the next gap that must be closed. The moment you believe there is nothing left to improve, your progress may already be slowing.

Choose consistency over occasional brilliance

ONE exceptional month, major account, or successful campaign deserves to be celebrated, but it cannot carry an entire career. Excel-

SUCCESS can make people more confident—but it can also make them harder to teach. Remain humble enough to listen, question your assumptions, and learn from people who see what you cannot. A coach, mentor, colleague, customer, or team member may recognize an important lesson before you do. Being good should never make you defensive about becoming better. The more you achieve, the more intentional you must become about remaining teachable. No ranking, quota, award, or position can determine the highest level you can reach. That answer is gradually revealed by how consistently you choose to learn, improve, and give your best. Keep growing, keep pursuing excellence, and never allow your current success to become your final standard—because sometimes, good can become the enemy of your best. God bless! Alexey “Coach Lex” Rola Cajilig is the President and CEO of ARCWAY Consultancy Inc., a recognized Sales Leadership Coach, Strategic Sales Operations Consultant, Christian Motivational Speaker, and Human Ecologist. As the author of The Effective Seller and Solving the Sales Puzzle, Coach Lex empowers leaders and sales professionals to turn knowledge into action, and action into measurable results. He is also the creator of ARCH Styles, a cutting-edge behavioral and personality discovery tool that helps individuals and teams unlock their true potential and perform at their peak. Connect and collaborate with Coach Lex at arcway.ph.

natural fibers into products with higher commercial value. DOST Secretary Dr. Renato U. Solidum Jr. said the emerging nonwoven industry presents an opportunity for the Philippines to participate in a rapidly expanding global market. “The global nonwoven market is now valued at around US$58 billion and is projected to reach US$75 billion, with the Asia-Pacific region accounting for nearly half of global demand. This presents a tremendous opportunity for Filipino innovation,” Solidum said in his recorded keynote message. He said the expanding market could create opportunities for Filipino manufacturers, designers, researchers and entrepreneurs to develop high-value products, generate employment and strengthen the country’s manufacturing com-

petitiveness. For DOST-PTRI Director IV Dr. Julius L. Leaño Jr., ONWARD represents more than an expansion of the Institute’s technological capabilities. It reflects a broader effort to increase the value that can be generated from Philippine natural fibers. “Through ONWARD, our nonwoven textiles, we push Telang Pinoy forward. ONWARD is about the choices that we make—choosing a cleaner, safer, friendlier, and kinder Earth. It is about making better choices for our future. Let ONWARD become part of those meaningful choices we make today,” Leaño said. The initiative could be particularly significant for small and emerging enterprises because nonwoven technology can create opportunities across different stages of the value chain—from fiber processing and

material development to product design, manufacturing and commercialization. Rather than limiting Philippine natural fibers to conventional textile products, entrepreneurs can tap specialized markets where performance, sustainability, durability, and innovative design are highly valued, according to Leaño. DOST-PTRI is also preparing infrastructure to support this emerging ecosystem. Its Nonwovens Center, scheduled to open in January 2027, will house specialized processing equipment and serve as a research laboratory, innovation hub, product showroom and collaborative space. The facility is expected to provide a venue where government, industry, startups and researchers can work together to develop and commercialize next-generation nonwoven products for Philippine industries. The development of ONWARD signals a potential shift in the country’s textile value chain—from supplying conventional textile materials toward developing innovative, locally engineered products for a wider range of industries. With DOST-PTRI providing research and development support and industry partners demonstrating commercial applications, ONWARD is laying the groundwork for a more diversified Philippine textile sector—one where innovation can translate locally sourced resources into new products, new businesses and new markets.

DTI drives coconut MSME growth through wider market access

HE Department of Trade and Industry (DTI) continues to help coconut-based beneficiary micro, small, and medium enterprises (MSMEs) under the Coconut Farmers and Industry Development Plan (CFIDP) access broader markets by showcasing higher-value coconut products at the 3rd COCONUTPhilippines Trade Fair 2026. Held from August 26 to 30 at the SMX Convention Center, the five-day event featured 232 beneficiary enterprises, along with other coconut-based MSMEs, providing them with opportunities to connect with commercial buyers and explore markets beyond local distribution. Organized alongside the Philippine Coconut Authority’s 40th National Coconut Week, the trade fair highlighted a diverse selection of specialty foods, organic oils, personal-care products, and ar-

tisanal crafts. The showcase represented the culmination of months of preparation by DTI regional and provincial offices, together with Regional Inter-Agency Technical Committees (RIATC). These groups worked directly with coconut-farmer enterprises to improve product quality, enhance packaging, and strengthen their readiness to enter wider markets. Beyond the product showcase, the event served as a strategic platform for market development and learning. DTI connected local agricultural clusters to trade promotion platforms and market seminars, helping farmers move from raw coconut production toward processed and finished products with greater market value. During the “Let’s Talk Coconut: Standards and Their Role in Coconut Trade” forum, experts guided entrepreneurs on regulatory and product

standards needed to meet the requirements of major domestic retail chains and international markets. This initiative forms part of DTI’s mandate under the Coconut Farmers and Industry Development Plan (CFIDP), established by Republic Act No. 11524. Implementation is driven by key agencies, including the Bureau of SME Development (BSMED) as the CFIDP Program Management Unit, Export Marketing Bureau (EMB), Bureau of Market Development, Promotions and OTOP (BMDPO), and the Board of Investments (BOI) as key implementing units. Since the plan’s rollout in 2022, DTI has extended market development support to more than 1,650 coconut-farmer beneficiary enterprises nationwide, contributing to sustainable economic growth in rural farming communities.

Bacolod creative hub-trained sewers produce market-ready creations By Nanette Guadalquiver

AC OL OD C I T Y— S e w i n g artisans here have produced market-ready creations after an intensive training organized by the city’s Department of Local Economic Development and Investment Promotions (DLEDIP) in a step toward building sustainable livelihoods and creative enterprises for Bacolodnons. Five of the 24 graduates, who attended the pilot G-Hive Artisan Makers Bootcamp Sewing Track last week, received awards “celebrating their potential transformed into skill, passion transformed into craft, and being artisans empowered to create with purpose.” DLEDIP head and city investment officer Frances Mae Llamas said on Wednesday that through the G-Hive initiative, they provide training programs and learning opportunities for Bacolodnons to develop practical skills, strengthen creativity, and explore pathways toward livelihood and entrepreneurship. “G-Hive was created to provide our local talent with a clear pathway from

grassroots passion to global opportunity. These 24 graduates have proven that when our artisans receive systemic support, they become true entrepreneurs,” Llamas told the Philippine News Agency. At the G-Hive facility located in Mansilingan Activity Center, participants learned to transform canvas, hablon (handwoven textile), and other local materials into contemporary, marketoriented products, such as tote bags. Vivo Handmade founder Vida Hayes, one of the first batches of participants, was awarded the Most Improved Artisan Award. “As an entrepreneur, I really appreciate this opportunity. As an artisan, it is very important to learn and know your craft. This project is very valuable. It will help a lot of people,” she added. Roselyn Olchondra received the Artisan Excellence Award; Jeanne Marie Alindog, Most Creative Maker Award; Elvira Prado, Master of Precision Award; and Elizabeth Abad, Outstanding Artisan Spirit Award. Youngest participant Zoey Tuclaud, 23, said she is thankful for the opportunity to be part of the G-Hive Artisan

Makers Bootcamp for free and invited those who are interested to learn to also enroll in the program. “I can use the knowledge and skills I learned if ever I decide to proceed with putting up my own business. I learned so much in sewing, cutting, and how to use the sewing machine properly,” she added. Interior designer and educator Jinky Cantancio, one of the trainers, said the instructors guided participants in transforming preloved canvas materials into beautiful and useful tote bags. “As one of the trainers/facilitators of the pilot batch, I had the privilege to be part of something special. We are part of discovering the skills and creativity that can become opportunities for livelihood and entrepreneurship for Bacolodnons,” she shared. After completing the bootcamp on August 24 to 28, the first batch of graduates take with them a certified portfolio, a business/production plan, technical confidence, and a maker network. The second batch of participants will undergo training on September 28 to October 2 and the third batch, on October 26 to 30. PNA

Banking&Finance

Wednesday, September 9, 2026 • Editor: Dennis D. Estopace

BusinessMirror

‘Sticky inflation, costly oil will dampen credit demand in PHL’

By Andrea E. San Juan

IGH energy prices, persistent inflation, rising interest rates and tighter underwriting standards are expected to weigh on credit growth in the Philippines, according to S&P Global Ratings. In a report on Tuesday, the credit rating agency said prospects for credit growth in the Philippines are “deteriorating” because of higher inflationary pressures and weaker economic conditions. S&P Global made this pronouncement after it conducted stress tests on the Philippine banking sector. The credit rating agency noted that slower credit growth is “emerging” across all segments of the Philippine economy. “Persistent inflation, rising interest rates, and tighter underwriting standards at a time when economic growth is decelerating are behind this,” S&P Global said.

It noted that the annualized credit growth slowed to approximately 7 percent in the first half, from 10 percent in 2025 and 13 percent in 2024. “Two macroeconomic factors are driving deceleration: higher energy prices and reduced government spending,” S&P Global said. The Middle East conflict and a lack of subsidies that have pushed up prices for fuel and gas have compounded the woes of consumers, it added. S&P Global also noted that government spending has weakened because of ongoing investigations into flood control projects.

As such, the credit rating agency said the next few months will remain “challenging” for banks. “Recovery in 2027-2029 will be driven by inflationary pressures easing and public and private spending rebounding, in our view,” said S&P Global. The credit rating agency forecasts loan growth to “stabilize” at 7 to 8 percent in 2026 before accelerating to 9 to 10 percent over the following two years. In particular, it said the recovery will be led by consumer loans (23 percent of total loans) and fueled by stronger growth in unsecured lending, it added. Meanwhile, the credit rating agency said weak loans will rise to 6 to 7 percent of outstanding loans over the next two years, up from 5.6 percent in June 2026. While aggregate levels of weak loans remain “manageable,” S&P Global said: “Stress is emerging in the auto, credit card and personal loan segments.” “Our analysis of loans that are 30 days overdue on repayments also indicates elevated stress in in these segments,” it added. S&P Global also flagged the “rapid

expansion” of unsecured lending, which it said is facing its “first true asset quality test.” “Such loans surged from 5 percent of total loans in 2019 to 11 percent by the end of 2025,” it said.

Auto, business loans

S&P Global said the Philippines recorded a sharp slowdown in growth due to the lack of broader fuel subsidies which has resulted in a “massive jump” in fuel prices. “Auto loans are seeing a sustained increase in NPLs [nonperforming loans] and past due loans, reflecting the squeeze in household incomes centered on mass market consumers,” it added. However, “incremental” growth in auto loans is being largely driven by electric vehicles, where it said the borrower profile is “more affluent.” The credit rating agency also flagged the construction sector, whose past due loans doubled to 16.5 percent by June 2026. “A suspension in government works following the discovery of irregularities in flood control projects and input cost inflation related to conflict in the Middle East contributed to the weakness.”

Ayala entitled to ₧149-M tax credit certificate—CTA By Joel R. San Juan @jrsanjuan1573

HE Court of Tax Appeals (CTA) has ordered the Bureau of Internal Revenue (BIR) to issue a tax credit certificate (TCC) in favor of conglomerate Ayala Corp. amounting to P149 million representing unutilized creditable withholding taxes (CWTs) for 2020 and 2021. In a 31-page decision penned by Associate Justice Marie Bacorro-Villena, the CTA’s Special First Division did not give merit to BIR’s arguments that Ayala failed to exhaust the administrative remedies considering that it filed the judicial claim for refund only within a few days after it files its administrative claim. “In sum, petitioner has sufficiently proven that it is entitled to the issuance of a TCC in the amount of P149,098,968.34, representing its

unutilized CWTs for CYs 2020 and 2021…,” the CTA declared. The BIR insisted that it had yet to thresh out the factual issues in the said administrative claims. The tax appellate court also did not give weight to BIR’s claim that the petitioner failed to prove compliance with the requirements for CWT refund. The BIR said Ayala did not show that the subject CWTs were declared in the annual ITRs and did not submit the complete supporting documents when it filed the administrative claims. The petitioner maintained that both the administrative and judicial claims for refund were filed within the year prescriptive period. Ayala also stressed that the subject CWTs are substantiated with the corresponding BIR forms and that it was able to present the previous annual income tax returns (ITRs) to

establish that its tax liabilities were applied to the prior year’s excess tax credits, and not to the CWTs that are subject for refund. In ruling in favor of Ayala, the CTA held that it complied with Section 76 of the National Internal Revenue Code (NIRC) of 1997 and has not carried over the excess CWTs being claimed for a refund. The said provision provides two options available to a corporate taxpayer when its total quarterly income tax payments for a given tax year exceeds its total income due tax due. Based on the said provision, the taxpayer may either carry-over the excess amount to the succeeding taxable quarters or years until it is fully utilized r file a claim for a refund in the form of cash or a tax credit certificate (TCC). However, once the carry-over option is exercised it becomes irrevocable for that taxable period.

The CTA noted that based on its annual ITR for 2020 and 2021, Ayala chose the option to be issued TCC, which showed its intention to claim for the issuance of a TCC for its CWTs for the same period. Likewise, the CTA noted that Ayala Corp. filed its administrative claims for refund and judicial claim within the two-year prescriptive period. “Since the two-year prescriptive period was about to lapse, petitioner acted properly in filing the judicial claim without awaiting respondent’s decision in order to protect its interest,” the CTA said. “Petitioner need not await the final resolution of the administrative claims for refund, as doing so would effectively forfeit petitioner’s right to seek judicial recourse should the two)-year prescriptive period expire without a timely judicial filing,” it added.

Agri ventures get bulk of state-backed loans

OVERNMENT-backed loans for cooperatives reached P2.41 billion as of June, expanding financing support for agriculture, small businesses and electric cooperatives. State-run credit guarantor Philippine Guarantee Corp. (PhilGuarantee) reported on Tuesday that it facilitated P2.41 billion in cumulative outstanding guaranteed loans for cooperatives, helping 24,386 beneficiaries. The bulk of the financing went to cooperatives involved in rice production and other agricultural activities, which accounted for P1.76 billion in outstanding guaranteed loans from 2019 to June 2026 and aided 24,255 beneficiaries. Guarantee support was also extended to cooperatives serving micro, small and medium enterprises (MSMEs). From 2024 to June 2026, cooperatives supporting MSMEs accessed P28.48 million in cumulative outstanding guaranteed loans, benefiting 113 beneficiaries. Furthermore, 18 electric cooperatives had availed themselves of financing under the Electric Cooperative Partial Credit Guar-

antee (ECPCG) Program as of June. The program provides guarantee support to electric cooperatives in securing financing for their operations and other sustainable requirements. It had a cumulative outstanding guaranteed loan value of P622.60 million as of June, according to PhilGuarantee. The agency said cooperatives remain an important part of its development financing efforts as it seeks to broaden access to credit for productive sectors of the economy. Of its 206 partner lending institutions as of June, 46 were cooperatives, it said. “As a key partner in development financing, PhilGuarantee empowers cooperatives to expand their lending capacity and provide financing support to communities engaged in productive activities,” it added. PhilGuarantee provides credit guarantees in support of trade and investments, exports, infrastructure, energy, tourism, agricultural business, housing, small businesses and other priority sectors of the economy. Reine Juvierre S. Alberto

BANK STRATEGY

This undated photo courtesy of Security Bank Corp. shows President and CEO Victor Lee (left) and CFO and Executive Vice President JD Yap during the bank’s “Investor Day” event last August in Makati City. The executives unveiled the lender’s three-year strategy “to capture the next wave of growth in Philippine banking.” Accordingly, the bank said it will “concentrate on wealth management, entrepreneur banking, and corporate and institutional banking, leveraging its existing strengths where it believes it can compete from that position of strength.” CREDIT: SECURITY BANK CORP.

briefs

➔ SHFC extends payment moratorium

THE Social Housing Finance Corp. (SHFC) announced recently it is implementing another round of moratorium on monthly amortization payments. Effective until September 28, the moratorium will provide temporary financial relief to affected families as they recover from the impact of the severe weather, read a statement the state-run firm issued last week. It is expected to benefit more than 54,000 member-beneficiaries from over 400 community associations in the National Capital Region (NCR), Bulacan, Nueva Ecija, Pampanga, Bataan, and Tarlac. The measure is equivalent to more than P23.4 million in housing assistance, read the statement.

www.businessmirror.com.ph

Investors want higher yields for reissued T-bonds By Reine Juvierre Alberto @reine_alberto

HE auction of the Philippines’s reissued Treasury bonds (Tbonds) was undersubscribed on weak demand from investors asking for higher returns amid chronic uncertainty over inflation, interest rates and global market conditions. Tenders for the 10-year debt papers on Tuesday, with a remaining life of six years and nine months, amounted to P28.421 billion, below the P30-billion offering of the Bureau of the Treasury. Only P20.701 billion in bids were accepted by the Treasury, P9.299 billion short of its borrowing program. “(The Treasury) is unwilling to accept excessively high borrowing costs, which is a sensible move from a debt management perspective,” said Jonathan A. Ravelas, senior adviser at Reyes Tacandong & Co., in a message. The average 10-year T-bond yield rose to 7.352 percent, 17 basis points higher than the 7.182 percent recorded in the previous auction of the same tenor nearly a month ago. This is also higher by 5.3 basis points than the Philippine Bloomberg Valuation Service rate of 7.299 percent for the seven-year tenor. Yields awarded by the Treasury ranged from a low of 7.250 percent to a high of 7.4 percent. “For investors, this means opportunities to lock in more attractive yields, while for borrowers, it signals that financing costs may remain elevated for some time,” Ravelas said. “The market should keep a close eye on inflation trends, BSP [Bangko Sentral

ng Pilipinas] policy signals and movements in US Treasury yields, as these will be key drivers of local interest rates and overall market sentiment,” he added. Inflation slowed to 6.1 percent in August from 6.2 percent in July—still above the BSP’s inflation target range of 2 to 4 percent. The BSP has said it will continue to monitor the impact of recent developments in the Middle East and weatherrelated disturbances. “Going forward, the BSP will remain guided by incoming data and its assessment of risks to the inflation outlook.” According to a report by Bloomberg, attacks on Tuesday forced Saudi Arabia to halt some energy operations near its border with Yemen. As a result, the price of Brent oil rose to almost $100 a barrel, deepening concerns about supply disruptions as shipments through the Strait of Hormuz continue to be restricted due to the US and Iran’s fighting over control of the crucial waterway. Meanwhile, the US Treasury yield curve flattened last Friday, with shortterm yields rising and long-bonds holding steady, after US job growth data topped forecasts in August, Bloomberg added. Next week, the Treasury will auction 4-year and 10-year T-bonds, as well as 91-, 182- and 364-day Treasury bills. This is part of the government’s fullyear borrowing target of P2.733 trillion, following a 70:30 financing mix in favor of domestic sources. As of the first half of the year, the government’s gross borrowings reached P1.821 trillion, up by 14.45 percent from P1.591 trillion in the same period last year.

A better world? “What matters most is how we respond to what we experience in life.”—Stephen R. Covey

F one would sift through all the news and highlights of posts on social media, the following may end up to be the most written about or talked about issues on an international level: n Nepal flash floods n US-Iran maritime tensions n Russia-Ukraine war n Middle East violence n Rising global food prices n The energy shock & currency plunge n China, North Korea and Russia n Global bond market stress n Geo-economic fragmentation On the domestic level, the counterpart list may include the following: n Hollywood Walk of Fame star for Lea Salonga n phenomenal rise and rise of Alex Eala n impeachment trial n flood control scandal n impact of the typhoons and habagat n “devaluing peso” vs the US dollar n “legal issues” of Vice President Sara Duterte n dangers confronting overseas Filipin workers in the Middle East n Barmm elections The list may be longer depending on one’s take on developments. It seems like it is, indeed, a very chaotic world with uncertainties. On the international concerns, Juan dela Cruz may just try to understand things but cannot do anything. He may not even mind the issues. On the other domestic issues, if

FINEX FREE ENTERPRISE Conchita L. Manabat one would spare time to read the opinion columns, watch the talk shows, and the different posts on a number of electronic sites, nothing is wanting on analyses and offered solutions including expected end games on the issues. At times, it could be a pointing of fingers play. The stories may go on and on with many comments/critiques given. There are, however, a couple of unusual good developments: the first is Alex Eala! She is now seeded at age 21; a first and the pride of the Filipino people. And the second, Lea Salonga! Last September 4, Lea became the first Filipina honored with a star on the Hollywood Walk of Fame: a tremendous tribute to the immense talent of Filipino artists in theater and film. Still, we hope more good news will come! Aren’t we entitled to a better world to lift our spirits up? Conchita L. Manabat is an incorporator and president of the Development Center for Finance, an incorporator and Trustee of San Carlos School of Cebu. Inc. and Trustee at the Coalition of Services for the Elderly. She is also an incorporator of and Lifetime Fellow at the Institute of Corporate Directors, a member of the Stakeholder Advisory Council of the International Federation for Ethics & Audit and chairperson of the Advisory Council of the International Association of Financial Executives Institutes. The views and opinions she expressed herein do not necessarily represent the BusinessMirror’s.

➔ Pagcor’s role highlighted at confab

➔ LandBank cites employee volunteerism

AN official of the Philippine Amusement and Gaming Corp. (Pagcor) underscored the role of the regulator in supporting the country’s tourism, healthcare and wellness sectors during the “Health & Wellness Conference and Expo 2026” on September 4, a Pagcor statement read. Speaking on behalf of Chairman and CEO Alejandro H. Tengco, Pagcor Health Services and Wellness Department Officer-in-Charge Dr. Janice A. Saraza said the “industry that we regulate is part of a much larger entertainment and tourism ecosystem.” “Our licensed integrated resorts, for one, attract visitors, create employment, support businesses and generate significant economic activity,” Saraza added. She said revenues generated by Pagcor help fund government programs and projects in key sectors.

EMPLOYEES of the Land Bank of the Philippines (Landbank) conducted simultaneous tree-planting activities in Laguna, Cagayan, and Zamboanga del Sur on August 15, under the bank’s volunteering program, read the statement the lender issued nearly a month later. In celebration of its 63rd anniversary, Landbank mobilized employees nationwide for a series of corporate social responsibility activities throughout August, the statement read. According to the Landbank, around 4,000 of its employees contributed their time, skills, and resources in different activities. Employees also raised P1.32 million in voluntary cash donations for selected communities and beneficiaries, the lender said.

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Editor: Gerard S. Ramos • Wednesday, September 9, 2026

As workplace surveillance grows, experts say it’s good to know the ways your employer is watching

By Cathy Bussewitz The Associated Press

EW YORK—College administrators read an adjunct professor’s comments to students on personal essays. Managers told a pharmacist to spend less time with patients after tracking the number and length of her appointments. Scanners on a warehouse conveyor belt monitored the pace of workers to ensure they inspected hundreds of items per hour. Thousands of employers are keeping tabs on the whereabouts, productivity and communications of workers with technology that was adopted widely during the coronavirus pandemic. A vast array of digital tools still are being used to track locations, collect data on task completion rates, and access work-issued smartphone and laptop cameras, raising concerns about how much privacy employees have relinquished, even in their own homes. Employers have always monitored workers, but recent advances in artificial intelligence and data science enable them to create extensive data sets or “dossiers” that can be used to punish workers or attempt to predict employee behavior, said Wilneida Negrón, director of research and policy at Coworker, a nonprofit that helps workers organize to improve working conditions. “Oftentimes, the workers with the least amount of power in the labor markets tend to be testing grounds for some of the more intrusive forms of data collection,” Negrón said. Some of the most common workplace monitoring programs have shared names, email addresses and other personal worker data with hundreds of outside data brokers and technology companies without clearly disclosing the practice, according to an investigation by Vanderbilt University, Northeastern University and the University of California at Berkeley. Data privacy experts and workers who say they’ve been closely monitored spoke with The Associated Press about what they see as the risks of employer surveillance and the steps employees can take to protect their personal information.

do so transparently and engage employee boards in reviewing how the tools are used, Negrón said. But there are also employers tracking, ranking and scoring employees in ways that are not transparent to workers, she said. “Workers are going to have to come together because the forces of centralizing this kind of tracking and monitoring are moving too fast,” Negrón said.

TEAM UP WITH LIKE-MINDED COLLEAGUES TO ADVOCATE FOR YOURSELF

FIND OUT WHAT KIND OF DATA YOUR EMPLOYER IS COLLECTING ABOUT YOU

PHARMACIST Lannie Duong’s job at a medical clinic involved meeting with patients who had chronic conditions such as diabetes, hypertension and heart disease. She reviewed their medical histories, blood work and symptoms, and adjusted their medications. She frequently enlisted interpreters to help her communicate with patients who had limited English language skills. Duong said her employer tracked the length of her phone calls and appointments, and in performance evaluations questioned why she took so long with each patient. “Everything was counted. How many minutes you’re on the phone. The minutiae of it was ridiculous,” Duong said. “We’re just tasked to do what feels like the impossible.” Under what she described as unrelenting pressure, Duong felt “not trusted, not appreciated, almost completely hopeless. It was so depressing.” She eventually went on medical leave and began volunteering with other pharmacists to organize a union. “I spoke up, hoping others would voice their concerns as well, but that didn’t really pan out,” Duong said. She says her employment was terminated after the medical leave. Many of the employers using surveillance tools

AS awareness about surveillance tools grows, some workers are pushing back on tools that track how long it takes to fulfill tasks, saying such monitoring contributes to injuries, and questioning what personal information is being collected and how it’s being used, said Hayley Tsukayama, director of state affairs at the Electronic Frontier Foundation, a nonprofit that focuses on digital privacy. “Unfortunately, if you are on a machine that’s been issued by your workplace, you should expect that there’s some type of monitoring,” Tsukayama said. Researching data collection and surveillance trends in your industry is a good idea, according to Negrón. Without that knowledge, workers may find themselves unprepared when confronted with information unearthed during surveillance. While teaching a college writing class, Arianna Anaya discovered that an administrator was reading the papers her students uploaded to the school’s learning management software and the comments Anaya made on the work. The students often wrote about intimate topics, including abuse, eating disorders and family trauma. “The school essentially used the online learning system to allow administrators and staff to read student work that was often immensely private

and personal, something we were specifically told students should not know about,” Anaya said. A colleague who printed out the comments criticized the casual tone Anaya used with students and accused her of not sticking to the course syllabus. A few months later, Anaya’s teaching contract wasn’t renewed, although she doesn’t know the exact reason. “It made me quite paranoid,” Anaya said. “It made me feel less safe in the world.”

CHECK STATE LAWS TO SEE WHAT’S REQUIRED OF EMPLOYERS

SOME states, including New York, Connecticut,

Delaware and Maine, require employers to notify workers if they’re being monitored. Maine’s law goes further, prohibiting visual monitoring in employees’ homes or personal vehicles unless that kind of observation is required for the duties of the job, said Edward Halle, a privacy and AI compliance manager. “The question becomes, what does the law mean by ‘the duties of the job’?” Halle said. “A telehealth nurse needs a camera; the camera is the job. A productivity webcam bolted onto ordinary desk work almost certainly isn’t. Where that line falls is the first thing the Department of Labor will be asked to sort out.” If you work in a state without a notification requirement, it’s difficult to find out if an employer is using technology to monitor your performance. To raise the issue with managers, Tsukayama suggests coordinating with a union. If that’s not an option and you’re asking managers individually, approach the topic cautiously and take a curious tone, she advised. You could say you’ve noticed something on the computer and have questions, such as “How is this information being used within the company? How might it get out of the company?” Tsukayama said. One place to start is asking what specific employee data your organization collects, said Aiha Nguyen, director of the Labor Futures Initiative at Data & Society, a nonprofit institute studying the impacts of technology. If your manager doesn’t know, the information technology department may have answers, since the people working there often are the ones turning on the features, Nguyen said. Some common software programs such as Microsoft Office and Zoom have tools that can be used for tracking worker productivity, but the tracking features aren’t always activated. Knowing whether those tracking features are turned on can be difficult, because they’re built into the programs, Nguyen said. “It’s automatic. It’s considered something that employers have been able to say, ‘This is necessary for work. You have to use these tools,’” she said. To help safeguard personal information, don’t use work devices to handle family matters or sensitive personal information such as medical conditions, experts advise. “I think most people know that,” Nguyen said. “But it can become tedious to switch between phones, or people don’t really think it’s that harmful.... You don’t want to potentially put yourself at risk.”

HOLIDAY SHOPPING SEASON KICKS OFF WITH SMARTER WAYS TO SAVE FROM LAZADA THE so-called ber months are here, and for many Filipinos, that means holiday mode is officially starting. From planning gifts to prepping for celebrations, the holiday shopping list is already taking shape, and e-retailer Lazada Philippines is making it easier to get a head start with its 9.9 Mega Brands Sale, happening from September 8 at 8 pm to September 11. Shoppers can enjoy up to 90-percent off LazFlash Deals, 100 percent free shipping, and vouchers worth up to P3,000, plus exclusive offers from leading local and global brands on LazMall across tech, beauty, fashion, home, and lifestyle. With the holiday rush still months away, 9.9 is a chance to build your basket early, whether it’s gifts for loved ones, upgrades for your home, or a

few things you’ve been eyeing for yourself. It’s all about shopping with more intention, while making the most of the season’s deals. LazMall makes early shopping even easier with its 100 percent authenticity guarantee, connecting shoppers to trusted brands such as Samsung, Dyson, Bobbi Brown, ANTA, Lacoste, LocknLock, Astron Appliances, and adidas, among others. When the choices are endless, knowing what to buy can be just as important as finding a good deal. Lazada’s AIpowered shopping assistant, LazzieChat helps make discovery easier by answering questions and surfacing personalized recommendations based on what shoppers are looking for. Together with LazMall’s authenticity guarantee, 9.9 deals, and Lazada’s fast delivery, LazzieChat helps make the journey

from “What should I get?” to “It’s on the way” a little more seamless. “The holiday season is changing, and so is the way Filipinos shop. Consumers are starting earlier, looking more carefully at what they buy, and expecting more from every peso they spend,” said Carlos Barrera, CEO of Lazada Philippines.“With 9.9, we want to give shoppers more than great deals. We want to give them greater confidence in every choice they make. From trusted brands to smarter discovery with AI, Lazada is making it easier for Filipinos to find what matters, shop with confidence, and start the holiday season on their own terms.” More information can be found at Lazada’s social media sites on Instagram, TikTok, and Facebook.

Single mom empowers fisherfolk through aquaculture model AFTER graduating from college, website developer and programmer Orange Silverio packed her bags and took her kids to a friend’s resort in Bolinao, Pangasinan, to heal her broken heart. Little did she know that she would likewise discover a means to assist fishing communities and eventually breadwinners like her to thrive through a social enterprise which advocates circular aquaculture and climatesmart innovation. And thus came the birth of Tambanokano Aqua Farm. It is a Filipino startup which creates livelihoods through sustainable mud crab production. It is named after a giant crab from a Mandaya folklore in Mindanao. This purpose-driven venture seeks to provide local families with a stable source of income while strengthening efforts to combat food insecurity and marine degradation. Orange, a young entrepreneur and single

mother, earned a Bachelor’s Degree in Business Administration major in Business Management from De La Salle-College of Saint Benilde School of Management and Information Technology as a scholar of the Blessed Arnould Study Assistance Program. “When I’m hurt, I work,” Orange, a former working student, shared. “Tambanokano healed me in so many ways that I didn’t know I would heal into. It’s not just a personal outlet. It’s a form of healing myself.” The aquaculture farm uses Recirculating Aquaculture Systems to fatten mud crabs. It revolutionizes the industry as it turns plastic waste into resources for smart crab farms and combines circular design with inclusive livelihood. “Sa pag-aalaga ng alimango, ang pinakadapat mong inaalagaan ay ‘yung tubig, hindi ‘yung alimango [When you raise crabs, what you need to take care of the most is the

water],” Orange explained. “The crabs can live for up to seven days without eating. But when the water runs out of oxygen, bacteria will die. The crabs will die. The bacteria that we have are good.” Upon the guidance of Benilde Hub of Innovation for Inclusion, a Technology Business Incubator accredited by the Department of Science and Technology, Orange and her group reinforced their business model, refined their impact strategy, and broadened the reach of their technology. With current operations in Malabon, Bicol and Pangasinan, and fueled by the growing demand for mud crabs in the country, she eyes the expansion of her business. Plans of building a two-hectare facility with 25,000 units of crab condominium in Calamba, Laguna, is currently in the works. Once completed, the pioneer hopes to divert up to 75,000 kilos of plastic waste and further

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ORANGE SILVERIO

PHOTO BY RAFAEL OLIVEIRA ON UNSPLASH

bolster the fishing communities. A portion of the income they generate from Tambanokano likewise goes to the seed funding of the crab paste businesses for solo parents, who are encouraged to start their own brand. Tambanokano Aqua Farm was recognized as a semi-finalist in the US-Asean Science, Technology and Innovation Cooperation Business Pitch Competition, and the HEC Montréal Social Business Creation. The startup placed second in the Payoneer Bridge for Billions Entrepreneur Awards. In 2025, Tambanokano secured funds from the Department of Information and Communications Technology Startup Grant Fund Cohort 2. In the same year, its founder, Orange, was named the Trailblazing Grand Winner of the Benilde Technopreneur Awards. More information can be found at www. tambanokano.com.

Wednesday, September 9, 2026

UFC bags 2 silvers at the 2026 MTerra Solar Phase 1 begins commercial operations Marketing Excellence Awards

Terra Solar Phase 1 has officially declared commercial operations for 600MWac mid-merit capacity under its Power Supply Agreement (PSA) with Meralco, marking a major milestone for one of the world’s largest and most important energy infrastructure projects. The declaration of commercial operations beginning on August 26, 2026 follows from the issuance of the Final Certificate of Approval to Connect (FCATC) by the National Grid Corporation of the Philippines (NGCP), confirming that the facility has met the necessary requirements to safely and reliably connect and operate 950 MWac of solar capacity and 825 MW of battery energy storage system within the national grid. The teams successfully carried out the required tests in the past weeks, paving the way for the project’s grid approval and Phase 1 commercial operations. “This is a significant step toward the future of energy in the Philippines. By combining solar power with battery storage at an unprecedented scale, we’re demonstrating how renewable energy can strengthen energy security, support economic growth, and build a more resilient and sustainable power system for our country,” said Manuel V. Pangilinan, Chairman of Meralco and Meralco PowerGen Corporation (MGEN). The start of commercial operations follows the inauguration of MTerra Solar Phase 1 on July 14, 2026, which celebrated the energization of 1,373 MWac of solar PV capacity and 825 MW (equivalent to 3,300 MWh) of battery energy storage system, making it at that time, the world’s largest integrated solar PV and battery energy storage facility on a single site. The facility’s Phase 1 progression from groundbreaking in November 2024 to the inauguration in July 2026, and now to its commercial operations, spanning less than two years, represents one of the most significant renewable energy achievements in the country. Another 250MWac capacity to be fulfilled under the same PSA is set to be brought into commercial operations in the upcoming months. “MTerra Solar is proof that renewable energy can be developed at unprecedented scale while meeting the rigorous

The MTerra Solar project is a key part of MGEN’s growing renewable energy portfolio and its commitment to supporting the Philippines’ energy transition. requirements necessary to operate safely and reliably within the grid. The issuance of the FCATC reflects the hard work of our people, the trust of our investors most especially Actis, and our strong partnership with NGCP under the guidance and support of our regulators –the DOE and the ERC. The close coordination among the agencies, system operator, and project teams was critical in delivering this remarkable achievement,” said Dennis B. Jordan, President and CEO of MGEN Renewables and MTerra Solar. MTerra Solar, a joint investment of MGEN and Actis, combines vast solar generation capacity with the world’s largest battery energy storage system. Unlike a conventional solar facility, MTerra Solar can store a significant portion of the electricity it produces. This enables the project to provide more consistent and dependable power while helping support the stability of the national grid, making it possible for large scale renewable energy to meet the Philippines’ growing demand for reliable, affordable, and sustainable electricity. “MTerra Solar is no longer simply a vision or a project under construction—it is now delivering power to the Filipino people. Reaching commercial operations reflects the determination, discipline, and exceptional work of thousands of people who helped bring this landmark facility to life. It also demonstrates what can be achieved when government and the private sector work together toward a shared national purpose,” Emmanuel V. Rubio, President and CEO of MGEN, shared. “Given the scale of the project, taking it from groundbreaking to commercial power for Phase 1 in under two years is a huge achievement and testament to the operational capabilities of MGEN and Actis.

With MTerra Solar’s commercial operations underway, we see renewables increasingly taking centre stage in the Philippines, providing clean, domestic, and secure power as energy demand rises,” said Rahul Agrawal, Managing Director and Head of SEA Energy, Actis. MTerra Solar forms a key part of MGEN’s growing renewable energy portfolio and its commitment to supporting the Philippines’ energy transition. The project is expected to deliver 3,500 MWp of solar PV capacity paired with 4,500 MWh of BESS, further strengthening the country’s renewable energy capacity. Actis, a leading growth market infrastructure investor, has worked together with MGEN, to jointly develop MTerra Solar. The US$600 million investment made by Actis represents the Philippines’ largest foreign direct investment for a greenfield infrastructure project to date. Its scale will make it a cornerstone of MGEN’s renewable energy portfolio and a major contributor to the Philippines’ transition toward a cleaner and more secure energy future. As one of the country’s largest private infrastructure investments, MTerra Solar supports the Philippine Energy Plan and the government’s goal of increasing renewable energy’s share in the country’s power generation mix to 35 percent by 2030 and 50 percent by 2040. More than a renewable energy project, MTerra Solar represents the scale of investment and innovation required to power the country’s continued economic development. The start of its commercial operations brings the Philippines closer to an energy system that is more diversified, resilient, sustainable, and prepared for the future.

Beyond titles, positions: Asia’s Modern Hero Awards to bring leaders together

HAT does it mean to be a modern hero? For the organizers of the Asia’s Modern Hero Awards 2026, heroism is not defined solely by titles, positions, or professional achievements. It is reflected in the way leaders use their influence, expertise, and resources to create meaningful change in their communities and contribute to nation-building. This vision will take center stage on September 25, 2026 (Friday), as the Asia’s Modern Hero Awards 2026 gathers distinguished leaders from government, public institutions, business, education, and civic sectors at Okada Manila Among the distinguished leaders set to be recognized are Department of Agrarian Reform (DAR) Secretary Conrado Estrella III; Commission on Elections (COMELEC) Chairman George Erwin Garcia; Government Service Insurance System (GSIS) President Wick Veloso; University of the Philippines (UP) President Atty. Angelo Jimenez; Polytechnic University of the Philippines (PUP) President Dr. Manuel Muhi; Pag-IBIG Fund President Marlene Acosta; and Commission on Filipinos Overseas, Secretary Dante Klink Ang II.

Their presence reflects the broad range of leadership that the awards seek to celebrate, from public service and governance to education, finance, business, and community development. The Asia’s Modern Hero Awards also recognizes leaders from the private sector, professional communities, and grassroots organizations whose work extends beyond their official responsibilities. According to Dr. Ronnel Ybañez, Founder and Chairman of the Golden Icons Foundation, the awards were created to recognize individuals whose accomplishments are matched by their commitment to service, responsibility, community impact, and nation-building. Rather than focusing solely on professional success, the awards highlight individuals who have demonstrated that leadership can be measured by the people, institutions, and communities they influence. From government officials making decisions that affect millions, to business leaders creating opportunities, educators shaping future generations, and community advocates working at the grassroots level, the awards aim to bring together different faces of

leadership under one platform. The celebration will also highlight the work of the Golden Icons Foundation and the communities it serves. As part of the awarding ceremony, the event will feature a presentation showcasing individuals, families, and communities who have received assistance through the foundation’s various programs and advocacy initiatives. The presentation will give guests an opportunity to see the real people and communities behind the foundation’s work, demonstrating how support and partnerships can translate into tangible change on the ground. Through its advocacy initiatives, the Golden Icons Foundation has supported communities through various forms of assistance, including education, livelihood and community development initiatives, humanitarian support, and other programs designed to empower individuals and communities. By featuring these beneficiaries during the awards ceremony, the organizers hope to reinforce a central message of the event: recognition becomes more meaningful when leadership is ultimately translated into service and impact. Beyond the recognition ceremony, the event is expected to bring together leaders from different sectors, creating an environment where government, business, education, and civic communities can connect and celebrate shared achievements. At a time when leadership is increasingly measured by impact, accountability, and purpose, the Asia’s Modern Hero Awards aims to highlight individuals who continue to make a difference within and beyond their respective fields. The evening will serve not only as a celebration of individual accomplishments, but also as a reminder that meaningful change often begins with leaders who choose to serve with purpose. For inquiries, nomination details, and event participation, interested individuals and organizations may contact the Asia’s Modern Hero Awards Secretariat at 0967 155 2078 / 0962 645 3775 or email asiasmodernheroawards@gmail.com.

UTRIASIA, proud makers of the Philippines’ best condiments, juices, RTD coffee, sauces, and dips, continues to showcase excellence in marketing as its Team UFC Golden Fiesta Canola Oil brought home two silver trophies from the 2026 Marketing Excellence Awards (MEA). The brand team, alongside its partner agencies, OMD Philippines, Dentsu Creative Manila, Inc., and SMS Philippines Healthcare Solutions Inc., secured secondary honors in both the Excellence in Integrated Marketing and Excellence in Consumer Insights/Market Research categories, two of the most competitive fields in the awards program. This milestone marks the first-ever MEA win for both Team UFC and NutriAsia. Presented by Marketing-Interactive, a Singapore-based regional trade publication with hubs in Malaysia and Hong Kong, the MEA is one of the region’s most prestigious recognition programs for the marketing industry. Originally launched in Singapore in 2012, the awards are now held annually across major Asian markets, including the Philippines, Singapore, Malaysia, Indonesia, Thailand, and Hong Kong. UFC Golden Fiesta Brand Manager Ina Nocheseda expressed the team’s immense pride in the recognition: “We are thrilled with this recognition, as this caps months of research, planning, and excellent execution across the brand team and our partner agencies. These awards tell us that we did a fantastic job collating and curating consumer insights, transforming them into concrete brand actions, and successfully achieving our campaign objectives. These accolades—on top of the actual results—speak for themselves. They are proof that we listened and analyzed. We acted and we delivered.” NutriAsia Category and Consumer Marketing Group Head Gretchen King congratulated Ina and the brand team for the achievement: “The entire NutriAsia family is very proud of Team UFC Golden Fiesta, not only for the recognition, but for the built-in advocacy in the campaign that undoubtedly helped many Filipino consumers make the heart-healthy switch. It is always a proud moment for us when any one of our teams is acknowledged for creating Masarap, Masaya moments with our consumers but even more so when the same campaign communicates important messages that can help transform lives.” Because entries are rigorously evaluated by an independent panel of senior, client-side marketing leaders and industry experts from leading corporations and multinational companies,

Team UFC Golden Fiesta at the Marketing Excellence Awards ceremonies are, from left, Aldrin Nunag (OMD Philippines Sr. CS Executive), Jennifer Mandia (Dentsu Creative Manila Associate Creative Director), Alyssa Gutierrez (Dentsu Creative Manila Account Director), Riza Blanco (OMD Philippines Cluster Head), James Lim (Senior Group Category Head for Corporate Marketing Communications), Marion Carlos (Junior Assistant Media Manager), Ina Nocheseda (UFC Golden Fiesta Brand Manager), Gretchen King (Consumer and Category Marketing Group Head), Lia Rivera (SMS Philippines Healthcare Solutions County Manager), Paolo Roa (Creative and Content Manager), and Josh Singson (SMS Philippines Healthcare Solutions Senior Account Manager). campaigns must be exceptionally successful and well-developed to even be considered. The award-winning UFC Golden Fiesta “Doctors’ Most Prescribed Campaign” was built around a critical public health challenge: heart disease remains the number one cause of death in the Philippines, accounting for nearly 20% of total mortality, with one in three Filipino adults living with hypertension. Despite the urgency for dietary intervention, market research revealed a massive knowledge gap, 54.1 percent of Filipinos do not recognize unhealthy fats as a primary disease risk, largely perceiving heart health as a “future problem” rather than a direct consequence of everyday kitchen choices. By bridging this insight with authoritative medical backing, the campaign successfully drove awareness and the much-needed behavioral change. In addition to its two Silver wins, the campaign was named a finalist in Excellence in Advertising. Meanwhile, a second NutriAsia entry—the UFC Megabrand Rated World Class Quality Campaign—also eared finalist status in the Excellence in Launch Marketing category.

AKAP, PhilHealth explore partnership to strengthen prevention, YAKAP

HE Alyansa para sa Kalusugan ng Pilipino (AKAP) recently paid a courtesy call on PhilHealth President and Chief Executive Officer Dr. Beverly Ho to explore areas for partnership in advancing prevention, health literacy, sustainability and primary health care. The multi-stakeholder coalition presented its vision of helping build a healthier Philippines by empowering Filipinos with credible health information, promoting disease prevention and supporting sustainable health programs toward Universal Health Care. A key area discussed was YAKAP, PhilHealth’s primary care program, particularly the potential role of AKAP in bringing the community and patient perspective into the continuing implementation and improvement of primary health care. “Primary care works best when communities are heard and empowered. AKAP can help bring the voice of Filipinos to the health system—what is working, what barriers they experience, and what can be improved,” said Karen Alparce-Villanueva, AKAP spokesperson.

AKAP believes that achieving Universal Health Care requires more than access to treatment. It requires a stronger focus on prevention, health literacy, early intervention and quality primary care, supported by a sustainable health system. The engagement with PhilHealth forms part of AKAP’s broader effort to build partnerships among government, civil society, patient and community organizations, professional groups and the private sector toward Universal Health Care. “Our goal is to be a constructive partner—helping amplify good health programs while ensuring that the voices and experiences of communities are part of the conversation,” Villanueva added. AKAP is a multi-stakeholder coalition committed to advancing prevention, health literacy, community engagement and sustainable health solutions toward Universal Health Care. For inquiries, contact Karen Alparce-Villanueva, AKAP Co-Convenor, at karenidavillanueva@gmail.com or 09178427094.

Savings don’t retire when you do because your best years can still be ahead

ETIREMENT today doesn’t necessarily mean slowing down. For many seniors, life after 60 can be a time to travel, pursue hobbies, stay active in their communities, run a small business, or spend more time with family and grandchildren. Some continue working, while others use their savings to support the people and goals that matter most to them. According to the Philippine Statistics Authority, Filipinos aged 60 and above now account for nearly 10 percent of the country’s population. Many also continue working beyond retirement age, with 3.4 million seniors still part of the labor force in 2025. Whatever their plans may be, one thing remains important: making sure the savings they worked hard to build remain secure and accessible as they enjoy the years ahead. On Grandparents’ Month, BDO celebrates seniors who continue to make the most of every chapter of life by helping them protect and grow the wealth they have built over the years. With a dependable savings account, seniors can keep their funds secure while enjoying convenient access to their hardearned money. BDO Prime Savers, a savings account designed for clients aged 60 and above, offers benefits that can make everyday banking more convenient, including: • Priority service in branches for less waiting time • Preferential foreign exchange rates for easier travel or

support for family abroad • Convenient online account opening without branch visits These features are designed to make banking easier for seniors, whether they are managing their own finances, supporting loved ones, or simply enjoying more freedom with their money. Saving can be rewarding in more ways than one. From September 1 to 30, 2026, eligible clients who open a Prime Savers* account with an initial deposit of at least P100,000, or a Prime Savers Dollar account with at least US$2,000, can receive a ₱500 SM Gift Pass. Opening a peso account also gives new and existing clients a chance to win brand-new hybrid cars and SM Gift Passes until December 2026 as part of BDO’s 50th Anniversary raffle**. Clients can open a qualified account, register online once, and maintain the required balance to earn raffle entries. After a lifetime of taking care of others, grandparents deserve the freedom to enjoy what they have worked hard for–and a financial partner that can help them do so with greater ease and peace of mind. Through BDO Prime Savers, seniors can continue protecting what they have built while enjoying benefits designed to make banking easy, simple, secure, and more rewarding.

BusinessMirror

Editor: Tet Andolong

Wednesday, September 9, 2026 B7

8990 goes private to expand affordable housing

By Rizal Raoul S. Reyes

of being a publicly traded developer. As a private company, 8990 can potentially pursue a longer-term strategy involving: n larger-scale land acquisition and development; n restructuring or consolidating its housing businesses; n greater flexibility in capital allocation; n potentially taking on projects with longer investment horizons; n restructuring its portfolio without having to respond to short-term movements in the share price; and n allowing the controlling shareholders to exercise greater strategic control over the company’s future.

@brownindio

EADING mass housing developer 8990 has and always remained true to its core of being a socialized and economic housing developer.

After it transitioned to private ownership, 8990 Holdings president and CEO Anthony Vincent S. Sotto told the BusinessMirror in an email interview that the company is “committed more than ever” to delivering houses through the 4PH program with the following new projects launched this year: Deca Homes Cabanatuan with 6,366 units, Urban Deca Homes Marilao Bulacan with 1,254 units, Deca Homes Granada, Bacolod City with 5,384 units, and in the Davao area at Deca Homes Mulig 2, Panabo and Tagum, with a combined inventory of 3,933. “We are going above and beyond our commitments to the Department of Human Settlements and Urban Development Secretary Jose Ramon Aliling in 2025, where we committed over 9,000 units of 4PH housing over a span of 3 years,” said Sotto. Although the company is no longer subject to the same pressures and expectations from public-market investors, Sotto thinks there is more pressure in a sense that 8990

is committed to the Filipino people in this socialized segment to deliver not only houses but places where their lives and dreams are built. “Our customers are Filipinos who have devoted much of their savings or income in acquiring primarily to live in [as opposed to investing in]. The pressure to make them satisfied is definitely as high as when we were still a listed company. In that aspect not much has changed,” he explained. With the company no longer in a position to tap the public equity market in the same way as a listed company, Sotto said the company is well situated especially, so now that it is addressing a serious gap in housing in this underserved market. Sotto expressed bullishness in the affordable segment as it has proven resilient as evidenced during the pandemic, and more so now that the market has opened up to more and more socialized and economic housing projects. “Our strong partnership with PagIBIG Fund as well as our partner banks have allowed us the flexibility

DECA Homes Granada, Bacolod City to easily adjust our cash flow allowing us to maintain our expansion in key provinces nationwide. The timeliness of the government’s pivot of expanding the 4PH program to horizontal housing and PagIBIG Fund’s role as the government’s financing arm in its 4PH program as main factors for us to easily transition from being a publicly listed company to delisting,” Sotto explained.

From social housing to signature homes: How bamboo is redefining homes and sanctuaries

8990 Holdings Inc. has already been delisted from the Philippine Stock Exchange, effective October 31, 2025. The delisting was the result of a voluntary tender offer designed to take the company private. The more interesting story is what happens to 8990 as a private housing platform. The transaction effectively removes the company from the pressures and constraints

Visayas’ Twin Growth Story: Why Bacolod and Iloilo Remain Markets to Watch talent availability, lower operating costs, and favorable business environments. As global capability centers and outsourcing firms diversify location strategies, these cities remain well-positioned to capture future demand.

ANILA, PHILIPPINES—There is a distinct sense of comfort in a bamboo structure. Their natural material, warm character, and connection to the surrounding environment create spaces that feel welcoming and timeless. It’s an experience that used to be confined to eco-lodges and social housing pilots. Increasingly, it’s becoming a selling point for homes and sanctuaries. From a wellness retreat tucked into the hills of Sri Lanka to a cluster of tropical modern homes in Negros Oriental, bamboo construction is demonstrating its versatility across the private market. Today, developers, hospitality brands, and homeowners are choosing bamboo not because they have to, but because they want buildings that are resilient, cost-competitive, and architecturally distinctive. Behind this shift is Base Bahay Foundation (BASE), a Philippine-based nonprofit initiated by the Hilti Foundation, which has spent over a decade doing the work that makes glamorous buildings possible, including engineering standards, structural testing, workforce training, and supply chain development for its flagship technology, the Cement-Bamboo Frame Technology (CBFT). Engr. Luis Felipe Lopez, General Manager of BASE Bahay Foundation, shares, “We set out to prove that bamboo could meet rigorous engineering standards. Once that foundation existed, the market found its own way to bamboo.”

A showcase for tropical modern homes

IN Dauin, Negros Oriental, the Kawayan Casitas were never meant to be just houses. They were meant to be proof. Built by the Kawayan Collective Agriculture Development Cooperative, the 30 sqm to 140 sqm homes were designed to demonstrate what CBFT construction could look like when applied to contemporary residential design. Five of the six have already sold, to a mix of local and foreign buyers, at prices ranging from P1 million to P8 million. Built at around P25,000 per square meter, the cooperative’s modern bamboo homes demonstrate that bamboo is no longer a premium niche but a cost-competitive construction solution. With rising prices of imported building materials and increasing energy demand to cool conventional glass-and-steel homes, bamboo offers an increasingly attractive alternative without compromising on design or performance. As of end-2026, the cooperative has completed 89 CBFT buildings, including 15 private residential homes built for owners who first encountered bamboo construction by walking through a Kawayan Casitas showcase home. “People come expecting a bamboo hut, and they leave asking how soon we can build them a CBFT house, a modern take on its traditional ancestor,” says Amy Villanueva, co-founder of Kawayan Collective. “The Casitas changed how people in this region think about what bamboo can be.” Meanwhile, Architect Ray Villanueva, who designed the showcase homes, is already planning the next phase of development, and the cooperative is exploring how it might build CBFT housing at scale. The momentum has attracted more than architects. In 2025, DCCCO Multipurpose Cooperative became the first major financing partner for Kawayan Collective homeowners, offering members multipurpose loans of up to P200,000, or up to 70 percent of a home’s value, specifically for cement-bamboo frame construction. It’s a small but telling signal: financial institutions are beginning to treat bamboo homes as bankable assets, not niche experiments.

A model for wellness tourism

HALFWAY across the continent, on Sri Lanka’s south coast, a boutique wellness property called Soul House needed to expand ahead of tourist season. The brief: three standalone garden chalets, comfortable for one to three guests, with maximum natural ventilation, sweeping views, and shaded outdoor living. The client wanted something environmentally considered and architecturally distinctive and was willing to experiment. Working with designer Lisa Jehle and construction partner Una Gama, the project team adapted the design for CBFT, in close collaboration with BASE. The result was Sri Lanka’s first CBFT construction, completed within a single low-season build cycle, and now fully integrated into the property’s expanding wellness tourism offering. “What surprised us most wasn’t just how the chalets looked, but how they performed,” says Aoife O’Sullivan, co-founder and director of Una Gama. “Guests immediately experience naturally comfortable interiors, bright spaces filled with

T his is particularly relevant because 8990’s business is capital-intensive and highly dependent on land, financing, housing demand, interest rates and government housing programs. According to an online report, 8990 HDC is continuing to invest in operational expansion and infrastructure. In April/May 2026, for example, 8990 HDC strengthened its partnership with VITRO, the PLDT Group's datacenter arm, expanding its business-continuity and disaster-recovery infrastructure. The company said its systems support sales offices nationwide and are intended to support its continued expansion.

Upside for residential take up

daylight, and an environment that feels warm, calm, and connected to nature. These show how bamboo can deliver both performance and exceptional design.”

A centerpiece for a unique dining experience

NOT far away, in the wilderness retreat of Belihuloya, that same partnership pushed the technology further. The brief here was a restaurant meant to be the architectural centerpiece of a wellness property already known for its sauna, ice bath, and Ayurvedic experiences. Perched above rice paddies, overlooking a winding river, the new restaurant was built on two levels: an upper dining space constructed entirely from bamboo, and a lower level housing kitchens, office space, and guest amenities. The build followed the landscape itself, tucked into a rocky hillside and shaped around a single defining feature, a sweeping curved roof beam that was established first, with the rest of the structure built around it. “This demonstrates how bamboo can create warm, architecturally distinctive spaces that bring guests closer to nature,” says Julien Bailly, founder and director of Una Gama. The project brought together an international team: original architectural concept by Lisa Jehle, structural design and technical development by Asali Bali, and construction by Una Gama. These projects are compelling on their own, and BASE notes these as evidence of something larger: a construction technology that has moved past the demonstration phase and into commercial viability. Globally, BASE has supported the construction of more than 2,500 CBFT structures, resulting in over 40,000 tons of CO₂ savings. The economics are also increasingly hard to ignore. Bamboo reaches structural maturity in three to five years, compared to the decades required for hardwoods. Its high strength-toweight ratio means CBFT structures perform well under seismic stress, an important consideration in a region prone to earthquakes. And with buildings responsible for 39 percent of global CO₂ emissions, bamboo offers developers a genuine lever for reducing a project’s environmental footprint. “Financial and operational advantages are ultimately what move developers,” says Lopez. “Faster construction through prefabrication, lower embodied carbon, resilient design—these aren’t abstract sustainability talking points anymore. They’re line items that affect a project’s bottom line.” For BASE, the real milestone is not simply proving that bamboo works. It’s ensuring that no developer has to build the ecosystem from scratch. The engineering has been validated. Standards and codes are in place. A trained workforce is available. Supply chains are expanding. Financing mechanisms are beginning to emerge. What began as a housing innovation for underserved communities has matured into a viable construction ecosystem. Today, developers, architects, and hospitality brands are choosing bamboo not only for its low-carbon profile, but also for its design flexibility, construction efficiency, and growing commercial value. For more information on Base Bahay Foundation, Inc. and its transformative projects, please visit www.base-builds.com.

ACOLOD and Iloilo are proving that growth stories outside Metro Manila remain alive and well. While global uncertainties and a softer economic environment have tempered business expansion decisions, the long-term fundamentals supporting these two Visayas property hubs remain intact. At Colliers Philippines, we’ve observed that both markets continue to benefit from a young talent pool, sustained OFW remittances, and increasing investor confidence. More importantly, they are evolving beyond their traditional roles as regional centers and are carving out distinct positions in the country’s office, residential, and retail landscape. Latest Colliers Philippines data show that Western Visayas remains among the country’s faster-growing regions, providing a solid macroeconomic backdrop for thriving property demand. While much of the property spotlight remains fixed on Metro Manila, a compelling growth story is unfolding in Bacolod and Iloilo. We see this trend in the office and residential segments.

Office sector bright spots

IN the office sector, Iloilo continues to outpace Bacolod in terms of scale and absorption. Iloilo recorded about 22,000 square meters of office transactions in the first half of 2026, while Bacolod registered 3,000 square meters. Iloilo has approximately 372,000 square meters of office stock compared to Bacolod’s 210,000 square meters, and both cities still have a healthy pipeline of new projects. Vacancy remains elevated in both markets, particularly in Bacolod, where the vacancy rate stands at 34 percent compared to Iloilo’s 24 percent. At first glance, these figures may appear concerning. But vacancies should also be viewed as opportunities to welcome new office occupants, including higher-value outsourcing firms. Companies seeking expansion outside Metro Manila now have access to quality office space at competitive rates. Bacolod and Iloilo continue to attract ITBPM occupiers because they offer the combination of

RESIDENTIAL demand tells an equally compelling story. Condominium take-up in both markets remains healthy despite rising interest rates and cautious consumer spending. The average take-up rate of condominium projects in Bacolod and Iloilo is around 90 percent, indicating that buyers continue to recognize the longterm value of owning property in emerging regional centers. By 2029, Iloilo’s condominium stock is projected to reach more than 16,000 units while Bacolod’s inventory is expected to nearly double to over 8,700 units. This pipeline reflects developers’ confidence that household formation, urbanization, and investor activity will continue supporting demand. The horizontal market remains even more resilient. House-and-lot projects in both cities enjoy an average take-up rate exceeding 90 percent, suggesting that end-users continue to prefer landed developments. This trend reflects a broader shift among Filipinos toward larger living spaces, particularly in provincial markets where affordability remains more attractive than in Metro Manila. Developers are responding by launching projects that cater to a wide range of buyers, from economic and lower middle-income segments to upscale and luxury residential communities. The two cities also help drive Filipinos’ deployment for overseas employment and we see this trend sustaining end-user take up for residential units. The OFW households should help propel demand for the P2.5 million to P7million segment. Moving forward, the outlook for Bacolod and Iloilo remains positive. Office leasing may see some challenges at present, but expanding infrastructure, increasing business activity, and a deepening talent base should support future absorption. Meanwhile, residential markets continue to benefit from strong end-user demand and sustained investor interest. We believe that these are not merely provincial markets waiting for growth. They are increasingly becoming growth centers. For occupiers, developers, and investors willing to look beyond Metro Manila, Bacolod and Iloilo remain two of the most attractive and competitive real estate markets to keep an eye on.

Wednesday, September 9, 2026

www.businessmirror.com.ph

Cops followed protocol in serving Duterte’s arrest warrant–Remulla B

Marcos appoints Pacquiao to NAPC By Samuel P. Medenilla

By Jonathan L. Mayuga

@jonlmayuga

HE National Police’s Criminal Investigation and Detection Group followed established protocols in serving the warrant of arrest against Vice President Sara Duterte, Interior Secretary Juanito Victor Remulla said. Remulla said the CIDG closely coordinated with the Vice President’s security team and maintained communication with her camp throughout the process. “It was coordinated very closely by the head of [her] security and the CIDG. There was constant communication between parties. It was not a cloakand-dagger na sinusundan namin,” Remulla said. The DILG chief made the statement after Duterte, who posted bail at the Regional Trial Court in Quezon City,

raised security concerns and claimed alleged harassment in connection with the service of the warrant.

Duterte offered police protection REMULLA said the PNP offered the Vice President protection and assistance and assured her camp that she would be accorded appropriate courtesy while the legal process took its course. “We made it clear that she will be accorded all the respect here. She will not be jailed and handcuffed,

and she will be presented to court the next day,” he said. “We gave them the option to come here, but they decided to go to the Quezon City Regional Trial Court,” he added. Remulla also presented footage of the warrant service, stressing that the operation was conducted without an armed or tactical component.

All-women, police team “IN the service of the warrant, there was no SWAT [special weapons and tactics team]; there was no armed component. The women [police personnel] are all unarmed. They were duly accepted into the residence and into the office,” he said. “Any thoughts of harassment during the service are totally untrue.” Remulla said any available CCTV footage from the Vice President’s office or residence may also be presented to help establish the circumstances surrounding the service of the warrant. Maj. Gen. Robert A lexander A . Morico II, CIDG chief, meanwhile, said personnel assigned to his unit proceeded to the Vice President’s

office after receiving the warrants on Friday afternoon to formally inform her and coordinate the necessary arrangements with her security team. He said the PNP also prepared appropriate custody arrangements after Duterte’s camp initially indicated that she may stay at a PNP facility. Her camp subsequently opted to proceed to the RTC in Quezon City, where she posted bail. Remulla maintained that the PNP was simply carrying out a lawful court order and acted with professionalism throughout the process. He stressed that law enforcement institutions must continue to perform their duties fairly and responsibly, regardless of the position or status of the person involved.

Standard security REMULLA also clarified that the police presence near the Vice President’s residence in Davao City is part of standard security protocol and not an operation directed against her or her family. Remulla said policemen are regularly stationed in the area to help secure the Vice President’s residence and nearby establishments. “At their house in Davao, there is always a police presence outside, and that’s because of the establishment next door... So that’s not just for that night, it’s every day: they are guarding their [Duterte’s] residence,” Remulla said. The clarification came after Duterte expressed concern for the safety of her family, claiming that her mother and children were harassed at their family home in Davao City. Remulla categorically denied that the police presence was intended to harass or intimidate Duterte’s family, stressing that personnel did not enter the residence. “Never did we enter her house to harass her mother or her children. Gabi-gabi naman nandiyan talaga iyan [police presence], just to provide deterrent kung may gustong may gumawa ng masama kay Vice President,” he said. The DILG chief emphasized that the deployment was neither a one-time operation nor an extraordinary security measure, but part of the regular police presence maintained in the area consistent with established security procedures. He stressed that the role of the police is to maintain peace and order and protect the public, including the Vice President and her family, and that routine security measures should not be misconstrued as harassment or intimidation.

@sam_medenilla

OXING icon and former senator Emmanuel G. Pacquiao returns to public service after President Ferdinand Marcos appointed him as the new head of the National Anti-Poverty Commission (NAPC). The Chief Executive swore into office Pacquiao, who replaced former NAPC lead convener, Lope B. Santos III, in Malacañang on Tuesday. The Presidential Communications Office (PCO) said Marcos is confident NAPC will continue its mandate in helping craft policies, which will lift more Filipinos from poverty, under the leadership of Pacquiao. “The President expressed confidence in Secretar y Pacquiao’s leadership in intensifying the government’s efforts against poverty, advancing social reform, and bringing programs and services closer to communities nationwide,” PCO said in a statement.

The announcement comes after Marcos transferred NAPC, which has had no lead convener since 2023, back to the Office of the President from the Department of Social Welfare and Development (DSWD) through Executive Order 123 last month. Pa cq u i a o wa s t h e l ate s t l o s i n g member of the senatorial line-up of the administration-backed Alyansa para sa Bagong Pilipinas in the 2025 election. Aside from the 47-year-old former senator, Marcos earlier included two other former senatorial candidates under the Alyansa para sa Bagong Pilipinas in the Cabinet—Benjamin DC Abalos Jr. as Cabinet Secretary, and Francis N. Tolentino as acting Labor secretary. D uring his campaign in the last elec tions, Pacquiao pushed for eliminating corruption to solve poverty and unemployment. The other members of the Alyansa, who lost in the previous polls were former Makati Mayor Abigail Binay and Ramon Revilla Jr. Samuel P. Medenilla

Green shipbuilding training center to rise in Zambales By Mary Jade Jadormio

TR AINING center for ecofriendly shipbuilding specialists is being proposed in Zambales as the Philippines and South Korea seek to develop workers with skills needed by the changing shipbuilding industry. Labor Secretary Francis N. Tolentino said the Department of Labor and Employment (Dole) and the Technical Education and Skills Development Authority (Tesda) will fast-track the mechanisms for the proposed facility with South Korean shipbuilding and marine-equipment institutions. Tolentino met with representatives from HD Hyundai Heavy Industries Co., Ltd. (HHI) and Korea Marine Equipment Research Institute (Komeri), led by HHI Head Manager and Executive Shin Sang-woon on Friday. “We understand the urgency of this because Asean [Association of Southeast Asian Nations] will convene in November this year,” Tolentino said. “Rest assured that on our end, including Tesda, we will be working double time to fast-track the mechanics and details of the agreement,” he added. The proposed center will focus on specialized training for eco-friendly shipbuilding, giving Filipino workers skills aligned with emerging requirements in the maritime industry. Tolentino said the country already has a strong pool of workers whose capabilities can be further developed through the partnership.

“This would be of great help to the Philippine shipbuilding industry,” Tolentino said. Dole will serve as the Philippine government’s primary focal point for the proposed Official Development Assistance project, while Tesda will be a key government counterpart for workforce training. HHI and Komeri are conducting the feasibility study for the project under the management of the Korea Institute for Advancement of Technology (Kiat) and the Korean Ministry of Trade, Industry and Resources (Motir). The feasibility study is scheduled for the second half of 2026, meaning the proposed facility remains at the preparatory stage. Meanwhile, the project is expected to provide specialized training that responds to the manpower requirements of the shipbuilding industry, particularly as demand shifts toward cleaner technologies. Developing these skills could also give Filipino workers greater access to skilled employment in the domestic and international shipbuilding markets. The proposed center forms part of broader Philippine-South Korean cooperation on skills and human-resource development through technical expertise and training. Dole said the partnership wou ld he lp a l ig n work force de velopment w it h industr y requ ire ment s wh i le e x pa nd i ng oppor t un it ies for qu a l it y employ ment i n t he sh ipbu i ld i ng sec tor.

Energy conservation in governor’s mind

EBU CITY—Cebu is turning to energy conservation as consumers continue to experience rotational brownouts lasting at least two hours at a time in some areas, while the Department of Energy (DOE) targets significant relief from the Visayas power supply crisis before Christmas. Cebu Gov. Pamela Baricuatro has ordered provincial government offices and facilities to observe a weekly hour of reduced electricity consumption, joining broader efforts to ease pressure on a grid that continues to operate under tight supply conditions. Baricuatro issued Executive Order 47 on September 4, establishing the “Takna Pagpawong sa Suga” (TAPS) Program. Under the order, provincial government offices will reduce non-essential power consumption from 8:00 p.m. to 9:00 p.m. every Monday. The directive covers departments, offices, economic enterprises, field offices and other

facilities owned, leased, operated or controlled by the Cebu Provincial Government. The initiative comes as the Visayas grid remains vulnerable to supply disruptions. The Capitol’s TAPS program seeks to institutionalize conservation within the provincial government. Non-essential lighting—including decorative, architectural, landscape, signage and display lights—will be switched off or reduced when safe and practical. Unused computers, monitors, printers, chargers and other equipment must likewise be shut down or unplugged, while devices that need to remain operational may be placed in energy-saving mode. Airconditioning units in unoccupied rooms are to be switched off, while occupied spaces should maintain temperatures of at least 24 degrees Celsius when operationally feasible. The order also allows for the temporary reduction of non-essential electrical systems, but expressly protects critical services.

Healthcare, emergency and disaster operations, public safety, communications, information technology, water supply, sanitation, laboratory operations and other frontline services are excluded from the conservation measures. Medical equipment, emergency lighting, fire protection systems, medicine refrigeration, servers, closed-circuit television monitors and other essential systems must remain operational. The provincial government is also urging local governments, national agencies, schools, utilities, businesses, malls, hotels, industrial establishments and households to voluntarily participate in the weekly conservation effort. Earlier, Energy Secretary Sharon Garin has said the DOE is working toward resolving the Visayas power supply problem before Christmas, although she acknowledged that restoring stability to the grid would not be easy. Carmel Pedroza