ing Council (AMLC) is faced with a “happy problem,” one that requires them to rethink their budget with the express goal of increasing it to capacitate the Council and fully exercise its mandate.
In a Finance Committee hearing at the Philippine Senate on Monday, Chairman Sherwin Gatchalian said the Committee is keen on helping AMLC prevent financial crimes. This means the Committee is open to granting the full budget sought by AMLC for 2026.
The AMLC and at least three other agencies have important mandates and huge challenges in fighting money laundering and
corruption, but have been given a “crumb-sized budget,” Senate President Pro Tempore Panfilo “Ping” M. Lacson said, and he vowed to redress this.
At the hearing of the Committee on Finance tackling the proposed budgets of the four agencies, Lacson sought the capacity building particularly of the AMLC, even as he lamented they getting “crumbs” in the National Expenditures Program (NEP) for 2026.
“The agencies in front of us, they are recipients of ‘crumbs’ in the budget, at least in the NEP,” he said in a mix of English and Filipino at the hearing that also tackled the proposed 2026 budgets of the Anti-Red Tape Authority
(Arta), Governance Commission for Government-Owned and Controlled Corporations (GCG) and Philippine Competition Commission (PCC).
In his presentation, AMLC Executive Director Matthew M. David said the Council proposed a budget of P333.1 million but the Department of Budget and Management (DBM), under the National Expenditure Program (NEP) only granted the Council a budget of P170.161 million for next year.
“The budget that we are requesting, Mr. Chair, will help us on the part of the AMLC to perform our mandates, particularly analysis, gathering and collecting of the millions of transaction reports
that we are receiving,” David said at the hearing.
Based on the latest data, AMLC is monitoring around P24.597 million worth of Suspicious Transactions (STRs) and P42.277 million worth of Covered Transactions (CTRs).
Based on the Anti-Money Laundering Act (AMLA), STRs are those transactions that have no legal basis or purpose; the client is not identified; amount is not commensurate or deviates from the financial capacity of a client; and related to unlawful activities, among others. The CTR, meanwhile, are transactions that are equivalent to
REMITTANCE FLOWS STEADY, BUT TRADE WAR JITTERS A RISK
from Filipinos abroad are expected to continue in the coming months, but analysts warned that uncertainties caused by the trade war continue to pose a threat to the livelihood of Overseas Filipino Workers (OFWs).
On Monday, the Bangko Sentral ng Pilipinas (BSP) said remittances rose 3 percent to $3.18 billion in July 2025 from $3.08 billion in July 2024. This is the highest level of remittances in seven months.
In January-July 2025, BSP
By Reine Juvierre S. Alberto @reine_alberto
HE Bureau of Inter-
Tnal Revenue (BIR) has joined forces with the Anti-Money Laundering Council (AMLC) to scrutinize bank records and tax payments of contractors and individuals allegedly involved in anomalous flood control projects (FCP). In a statement on Monday, the BIR said the two agencies discussed how tax evasion and money-laundering charges may be filed against companies and individuals linked to the government’s flood control projects.
Internal Revenue Commissioner Romeo D. Lumagui Jr. and AMLC Executive Director Matthew David, together with
BIR auditors and investigators from the AMLC, convened on September 12.
“This joint BIR-AMLC investigation will ensure that all revenue streams and assets of those involved will be accounted for. No stone will be left unturned,” Lumagui was quoted in the statement as saying.
The AMLC has the authority to require companies and individuals suspected of being engaged in money laundering to submit bank reports and transactions, which can be analyzed with tax returns and payments in conducting tax fraud audits.
“If the wealth of the contractor or individual, as stated in bank records, does not have corresponding tax payments, then
By Andrea E. San Juan @andreasanjuan
THE Anti-Red Tape Authority (Arta) said it is set to submit a proposal to lawmakers as the agency aims to be elevated to department level, a move seen to eliminate red tape, improve business processes and entice more investors into the Philippines.
On Monday, Arta Secretary Ernesto V. Perez said he will be working with the office of Senator Erwin Tulfo to give more teeth to Arta in implementing the Ease of Doing Business mandate of the agency.
“That’s part of our proposal [to become a department] and we thank Senator Tulfo for the support. This will give us more en-
forcement powers, more budget and personnel,” Perez told the BusinessMirror in a Viber message on Monday.
The Arta chief said: “We are ready to submit the proposal by Thursday this week.”
Perez explained why being a department is crucial for Arta. This, he said, will enable the agency to “fully implement our reform initiatives to promote bureaucratic efficiency and attract more investors and businesses, thus, improving our economy.”
This developed after the lawmaker underscored at a Senate hearing before the Committee on Finance on Monday that Arta needs to be granted more powers to implement its mandate
to eliminate red tape because national government agencies and even local government units (LGUs) seem to be playing down its role to improve the business climate in the country.
“Mr. Chair, I really believe that we have to give more power to this agency because it seems the agencies, even LGUs, don’t take it seriously,” Tulfo said.
He also ordered the chief of the country’s anti-red tape agency to submit a proposal to the lawmaker.
“Because I was just talking to my lawyers and legal officers, they’re saying we are going to study if it’s possible to make you a department, so you are on the same level [as others]….Because now when you are just an authority they’re saying,
what is that Arta? How can you engage the other departments? Maybe you need to be a department as well, and I will support that,” Tulfo said, partly in Filipino.
Arta is seeking a P32.5-million additional budget for 2026. Perez said this will help the agency implement the programs in store for next year.
“We humbly request really for additional budget support in order to operationalize our regional offices. We only have eight regional offices at division level, meaning only 7 plantilla positions, so we need additional people, even contract of service, to man these regional field offices,” Perez said.
By Cai U. Ordinario @caiordinario
To focus on ‘local issues,’ Marcos to skip UNGA in US
By Samuel P. Medenilla
PRESIDENT Ferdinand Marcos Jr. has cancelled his upcoming trip to the United States to attend the 80th United Nations General Assembly (UNGA) this month.
In a brief statement to Palace reporters on Monday, Presiden -
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“Because most of these programs are based on the digital platform, so we really need additional budget to support the people that will man these digital-based programs as well as the necessary ICT and cloud funding,” the Arta chief also noted during the budget hearing for the agency attached to the Office of the President.
Perez said Arta’s proposed budget for 2026 was P825.15 million. However, he noted that the final amount
tial Communications Office (PCO)
Dave M. Gomez disclosed the chief
earmarked for the agency under the 2026 National Expenditure Program (NEP) is only P496.78 million.
The Arta chief said the agency covers a “total universe” of 11,286 agencies.
Under the Republic Act No. 11032 or the Ease of Doing Business law, Arta has the power to:
(a) Implement and oversee a national policy on anti-red tape and ease of doing business;
(b) Implement various ease of doing business and anti-red tape reform initiatives aimed at improving the ranking of the Philippines (c) Monitor and evaluate the com-
executive will no longer push through with the trip.
Marcos was supposed to go on his fifth trip to the US from September 21 to 25 to participate in the UNGA.
“Yes, confirmed. It [UNGA participation] is cancelled,” Gomez said.
Based on its website, UN said the 80th of its UNGA will open September 9, 2025, but its high level General Debate will be from September 23 to 27.
Gomez said Marcos opted to forgo the UNGA trip to focus on “local issues.”
He said the President will be repre -
pliance of agencies covered (government offices and agencies including LGUs, GOCCs and other government instrumentalities that provide services covering business and nonbusiness related transactions) and issue notice of warning to noncomplying government employees or officials.
(d) Initiate investigation, or upon receipt of a complaint, refer the same to the appropriate agency, among others.
Foreign chambers stationed in the Philippines as well as local business leaders have repeatedly clamored for the need to streamline the process of doing business in the country and eliminate red tape in order for more foreign investors to set up shop in the country.
sented by Department of Foreign Affairs (DFA) Secretary Maria Theresa P. Lazaro at the event.
The decision comes as the Philippine National Police prepares for the scheduled mass protest marches by several groups in Metro Manila on 21 September 2025 to denounce anomalies in government flood control projects and to commemorate the 53rd anniversary of the declaration of Martial Law.
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Internet connection and mobile data subscriptions. “And while power is now back, we always wait and see how long it stays on,” she said.
From January to August 2025, some 1.5 million tourists arrived on Boracay, nearly 12 percent more than the same period last year, according to data from the Malay Tourism Office. Of the total arrivals in the first seven months this year, foreign nationals accounted for 234,344; overseas Filipinos were 22,082; and domestic tourists reached 1.16 million.
In a statement sent to this paper, Tourism Secretary Christina Garcia Frasco acknowledged the efforts of the DOE, NGCP, Akelco, the Civil Aviation Authority of the Philippines (Caap), and the concerned local government units in working to restore power in Boracay Island.
She underscored, however, “the urgency of putting in place a permanent and sustainable solution that will ensure uninterrupted service moving forward. Reliable power supply is essential not only for the welfare of residents but also for the safety, comfort, and satisfaction of visitors, as well as the continued vibrancy of the island’s economy.”
She added: “As the country’s top tourist destination, Boracay sustains thousands of jobs and livelihoods for local communities and contributes significantly to the national economy. It is imperative that we provide the island dependable infrastructure and efficient services. The DOT remains committed to working with partner agencies to safeguard Boracay’s standing as a world-class destination and vital engine of tourism growth.”
there is a case for tax evasion,” the BIR said.
Lumagui said this data is “crucial” in completing the BIR’s tax fraud audit, since AMLC has visibility over bank transactions of companies and individuals, after investigations in the Senate and House of Representatives revealed their undeclared wealth or income.
Contractors Pacifico Discaya II and his wife, Sarah, owners of St. Timothy Construction and several other companies, are at the center of investigations in both houses of Congress for the alleged ghost and substandard flood control projects flagged by President Marcos.
Deputy Speaker Janette Garin cited financial statements of the Discayas, saying that Discayalinked companies declared zero revenues in 2014 and 2015 and only P99.25 million in 2016. But by 2017, revenues soared to
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months holiday spending] and strong labor demand abroad,” Philippine Institute for Development Studies (PIDS) Senior Fellow John Paolo Rivera told BusinessMirror
“However, risks such as geopolitical tensions or exchange rate volatility may affect near-term trends. The BSP’s 3 percent annual remittance growth target remains achievable,” he added.
Rivera noted that the recent increase in remittances also underscores the countercyclical nature of remittances. July is usually fraught with disasters and strings of monsoon rains that bring flood and destruction.
Remittances would often increase in the face of these disasters. Rivera noted that inflows from OFWs act as safety nets for their families.
Meanwhile, Institute for Migration and Development Issues (IMDI) Executive Director Jeremaiah M. Opiniano shared Rivera’s sentiments and told BusinessMirror that the full impact of higher tariffs may have a lag effect and become more pronounced next year.
This remains a threat to the livelihoods of Filipinos abroad as well as their ability to send much-needed remittances to sustain their families in the Philippines. Unfortunately, due to the threats posed by higher tariffs and geopolitics, Opiniano said one recourse of OFWs would be to sacrifice their own health and welfare.
“Should these Filipinos abroad send more money in the remaining five months of the year, this may mean they had to work extra hard again and possibly do some outsideof-employment income generating activities. For that, may they watch over their health and welfare,” Opiniano told this newspaper.
Unionbank Chief Economist Ruben Carlo O. Asuncion told BusinessMirror cash remittances play a crucial role in food security in households and price affordability, in general.
This is one of the reasons remittances are considered safety nets for families, as they can be shielded from the onslaught of high commodity prices.
Asuncion noted that a significant share of remittances are allocated for basic household items, including food.
Remittances also ensure that OFW families can still afford nutritious food amid high inflation.
Based on a recent report from the Food and Agriculture Organization of the United Nations (FAO), the cost of a healthy diet for each Filipino rose to $4.39 per day last year.
The estimated price of a healthy diet in the Philippines last year was 4.3 percent higher than the $4.21 recorded in 2023.
Based on the current foreign exchange rate, this means that each Filipino must spend around P242 per day for nutritious food.
(See: https://businessmirror.
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P1.034 billion, 942 percent higher than the previous year.
In 2018, Garin said the Discayas’ revenues surged further to P12.05 billion, another 1,065-percent increase, before reaching P13.55 billion in 2019.
The revenues continued to balloon: P16.07 billion in 2021, P20.52 billion in 2022, and P18.62 billion in 2023—all from government contracts, according to Garin. (See: https://businessmirror.com. ph/2025/09/10/discayas-revenues-from-0-to-billions-starting-2016/).
The BIR has already issued letters of authority to the top 15 contractors identified by President Marcos, allowing the bureau to conduct their own parallel tax investigations.
The BIR is currently investigating the top 15 contractors with the most flood control projects, including Legacy Construction Corporation, Alpha & Omega Gen. Contractor & Development Corp.,
“In times of high food inflation, these inflows act as a financial buffer, allowing households to maintain adequate nutrition and stabilize consumption,” Asuncion told BusinessMirror
“Sustained remittance growth therefore supports improvements in food affordability indices, especially for low-income families that rely heavily on these transfers,” he added.
Meanwhile, Jonathan Ravelas, senior adviser at professional services firm Reyes Tacandong & Co., said the three major drivers of OFW remittances in July were school season, a stronger dollar, and job stability.
Ravelas said OFW remittances are used for tuition and school supplies while a stronger dollar becomes an incentive for Filipinos abroad to send more to take advantage of the foreign exchange gains. He noted that sea-based workers have seen better deployment this year, indicating job stability. BSP data showed sea-based OFWs accounted for $585 million of remittances while land-based workers accounted for $2.59 billion of the total for July.
“Remittances remain a backbone of household spending. It’s a signal that OFWs are still powering the economy—quietly but consistently,” Ravelas told reporters.
Meanwhile, BSP said the United States remained the top source of remittances to the Philippines during January-July 2025, followed by Singapore and Saudi Arabia. However, BSP noted that remittance centers in various cities abroad would course remittances through correspondent banks, most of which are located in the US. Further, remittances coursed through money couriers cannot be disaggregated by actual country source and are lodged under the country where the main offices are located, which, in many cases, are also in the US.
“Therefore, the US would appear to be the main source of OF remittances because banks attribute the origin of funds to the most immediate source. The countries are listed in order of their share of cash remittances, i.e., from highest to lowest,” BSP said.
BSP said with the increase in cash remittances, there was also an increase in personal remittances, including cash sent through banks and informal channels, along with remittances in kind.
Personal remittances rose by 3.1 percent to $3.53 billion in July 2025 from $3.43 billion in July 2024. Cumulative personal remittances also increased by 3.1 percent to $22.21 billion in January-July 2025 from $21.53 billion recorded in January-July 2024.
St. Timothy Construction Corporation, QM Builders, EGB Construction Corporation, Topnotch Catalyst Builders Inc. and Centerways Construction and Development Inc. Sunwest, Inc., Hi-Tone Construction & Development Corp., Triple 8 Construction & Supply, Inc., Royal Crown Monarch Construction & Supplies Corp., Wawao Builders, MG Samidan Construction, L.R. Tiqui Builders, Inc., and Road Edge Trading & Development Services are also under probe.
BIR’s investigation has been extended to companies and individuals outside the top 15 contractors due to the findings of the Senate and House of Representatives hearings.
“The BIR is already in coordination with the AMLC, DPWH, COA, LRA, LTO, and other government agencies. The BIR is also ready to cooperate with the investigation of the Independent Commission for Infrastructure, the Senate, and the House of Representatives. All available BIR personnel have been deployed for this investigation,” Lumagui said.
Marcos names retired SC justice ICI chief
IBy Samuel P. Medenilla @sam_medenilla
NVESTIGATION of the corruption-ridden public works projects is expected to start soon after President Marcos appointed retired Supreme Court Justice Andres B. Reyes Jr. as chairman of the Independent Commission for Infrastructure (ICI).
Marcos earlier appointed the two other members of the threeman ICI—former Noynoy Aquino administration Public Works and Highways Secretary Rogelio L. Singson and Sycip Gorres Velayo & Co. country managing partner Rossana A. Fajardo.
Marcos said he decided to pick Reyes to lead the ICI owing to his track record in the courts.
“He was a presiding judge of the Court of Appeals before. He has been a… for a very, very long time with a very good record of honesty and fairness, and a good record of being able to find justice for those who have been victimized,” he said in a news conference in Malacañang last Monday.
“He will know how to conduct those hearings, [and] proceedings
so that they are legally correct, procedurally correct,” he added. Reyes was a member of the High Court from 2017 to 2020.
Inflection point
BAGUIO Mayor Benjamin B. Magalong is also part of the ICI probe as Special Adviser.
Marcos defended Magalong’s inclusion in the ICI despite being local chief executive. He said the expertise of the former director of the Criminal Investigation and Detection Group will be a crucial asset for the ICI’s investigation.
He also explained his two reasons for setting the period to be covered by ICI to 10 years. Initially, Marcos said the government investigation on problematic flood control projects will only be from 2022 to 2025.
The first, he said, was the availability of records on public works, which are kept by the Commission on Audit, which only cover the last decade. The other reason, he said, was for the ICI to determine such corrupt practices in the DPWH evolved and how to address it.
“We have to find out how this happened and what are the changes
that we need to make so that we make this into an inflection point in terms of how government does its business and to make sure that the funds that belong to the people are well spent and properly spent to the advantage of all of us, to advantage of the economy, to advantage of those who are in danger areas,” Marcos said.
Independent
panel
THE ICI immediately met on Monday to start organizing its secretariat, which will be led by an Executive Director.
The President stressed that unlike the ongoing investigation being conducted by the House of Representatives and the Senate on the substandard and non-existent flood control projects, he said ICI will look into said irregularities free from government influence.
“And when asked how often you plan on meeting, they told me it will be daily. They will meet everyday and either privately or they will hold some—I don’t know if they plan to hold here in public, it is all up to them,” he said partly in Filipino.
Marcos said the ICI members
have already made an initial proposal to achieve “fundamental changes” for the government in implementing public works.
“In our discussions with them, they also said may we make suggestions, may we make proposals so as to the procedure, for bidding, for all these contracts so these [irregularities] will no longer reoccur. And, of course, I said we’re perfectly open to that. What we really want is to fix the system,” he said.
Among the said measures, Marcos said, was to bring back the requirement for local officials to “accept” projects, which were completed by the national government. He said the safeguard was removed by the previous administration.
Depending on its findings, the ICI may also order the contractors of the substandard flood control projects to honor the warranty of the said projects and fix it out of their own pocket, the President said.
Budget menu
THE President also announced the “menu” of government projects, where lawmakers can
Navy’s second guided missile frigate arrives
THE Navy’s newest guided missile frigate, BRP Diego Silang, arrived at the Naval Operating Base in Subic, Zambales on Monday.
Military brass led by the Armed Forces (AFP) chief of staff, Gen. Romeo Brawner Jr., welcomed the ship that sailed from South Korea.
In a statement, the AFP said the event led by Brawner was also attended by the Navy flag officer in command, Vice Adm. Jose Ma. Ambrosio Ezpeleta, and Capt. John Percie Alcos, the incoming commanding officer of Diego Silang.
Brawner in his speech during the welcoming ceremony stressed the symbolic and strategic importance of the newest addition to the modernizing Philippine Fleet.
He said the new frigate is a testament to the PN’s “growing capability and a clear signal of the AFP’s resolve to strengthen its maritime defense posture.”
“BRP Diego Silang [FFG-07] is a symbol of our nation’s resolve
to defend what is rightfully ours, to stand firm in the face of challenges, and to demonstrate our readiness to safeguard the interests of our people,” Brawner said.
BRP Diego Silang is the second of the Miguel Malvar-class guided
Legislators urge Congress to speed up passage of bill institutionalizing ICI
SINCE Executive Order 94 “falls short of providing the powers,” a group of lawmakers is urging Congress to fast-track the passage of House Bill 4453, which seeks to establish an independent commission against corruption in infrastructure projects, amid growing public outrage over alleged anomalies in flood control and other public works. They urged President Marcos to certify the measure as urgent and called on both chambers of Congress to act swiftly, stressing that only through legislation can the commission gain true independence and permanence. Without such a law, they warned, the body would remain at the mercy of presidential discretion and could easily be dissolved or rendered ineffective.
The call comes in the wake of EO 94, which created the Independent Commission for Infrastructure (ICI) to investigate alleged anomalies in public works. While commending the administration’s initial steps, legislators stressed that EO 94 falls short of providing the powers and independence needed to root out entrenched corruption in the infrastructure sector.
missile frigates built by South Korea’s HD Hyundai Heavy Industries for the PN.
BRP Miguel Malvar, which was delivered to the Philippines in April, was commissioned in May. The Malvars are 3,200-ton frigates which measure 118.4 meters long and 14.9 meters wide. They are equipped with eight anti-ship missiles, a 16cell vertical launch system for anti-siarcraft, anti-submarine torpedoes, a 76mm gun, four caliber .50 heavy machineguns and an active electronically scanned array (Aesa) radar.
In December 2021, the Department of National Defense signed a P28 billion contract with Hyundai Heavy Industries for the frigates. Jane Magturo
No threats detected but cops continue to monitor situation
appropriate a budget for the cancelled flood control projects under the 2026 National Expenditure Program (NEP).
The Department of Budget and Management (DBM) earlier said there is around P275 billion allocated for flood control projects in the 2026 NEP.
“We have made a menu for our legislators to follow and say that all insertions, all changes made can only be made to the benefit of these agencies,” he said.
The savings can be allocated to the following projects of the Department of Education, Department of Agriculture, National Irrigation Administration, Department of Health, Department of Human Settlements and Urban Development, National Housing Authority (NHA), Department of Information and Communications Technology, Office of Civil Defense Department of Social Welfare and Development, Department of Energy and the Energy Regulatory Commission (ERC):
Education: Construction of Laboratory Buildings, Construction of Students’
Dormitories, Construction of Academic Buildings; Basic Education Facilities (BEF)/ School Building Program (SBP), Textbook (and other Instructional Materials) Laptop (Computerization Program), and Last Mile School.
Agriculture: Farm-to-Market Roads (FMR), Rice Subsidy, Postharvest Facilities (PHF), Cold Storage Expansion Project, Fish ports, and Irrigation dams. Health: Specialty Hospitals, Health Facilities Enhancement Program (HFEP) Provision of Medicines. Medical Assistance to Indigent and Financially Incapacitated Patients (MAIP).
Housing: Pambansang Pabahay Para sa Pilipino (4PH) Program. Infrastructure and Information Communication Technology: Evacuation Centers and Free WiFi program. Labor: Tulong Panghanapbuhay sa Ating Disadvantaged Workers TUPAD) Program Social Welfare: Assistance to Individuals in Crisis Situation (AICS) Energy: Electrification Project.
‘Hiding nothing, protecting no one’
By Jovee Marie N. dela Cruz @joveemarie
THE leadership of the House of Representatives on Monday emphasized that Congress is hiding nothing and protecting no one amid allegations of irregularities in infrastructure projects.
Speaker Ferdinand Martin G. Romualdez, in a statement, assured the public that the House of Representatives is fully committed to President Marcos’ campaign for accountability,
“Nothing will be concealed, no one will be protected, and above all—we will never stray from the interest of the people,” Romualdez said, welcoming the President’s latest remarks that no one is exempt from accountability in connection with the flood control anomalies.
fairness,” he pointed out. Romualdez reiterated that the House will never serve as a refuge for wrongdoing, even if lawmakers are involved.
“From the very start, I have made it clear: the House will not be a refuge for wrongdoing. Not even its own members will be shielded if wrongdoing is proven. We will ensure that the process is fair, fact-based, and guided by the rule of law,” he stressed. He said the creation of the Independent Commission for Infrastructure is an opportunity to cleanse the system, and pledged House’s full cooperation. At the same time, Romualdez noted that House committees have begun reviewing procurement safeguards and monitoring project implementation to plug loopholes and strengthen oversight.
According to the authors of HB 4453, corruption continues to plague the budgeting, contracting, and implementation of public works—leading to overpricing, the use of substandard materials, “ghost projects,” and the misallocation of billions in taxpayers’ money. Lawmakers explained that while the ICI under EO 94 has
Authors of the bill are Mamayang Liberal Rep. Leila M. de Lima, Zamboanga Rep. Adrian Michael A. Amatong, Dinagat Islands Rep. Arlene J. Bag-ao, Akbayan Percival V. Cendaña, Akbayan Rep. Jose Manuel Tadeo “Chel” Diokno, Caloocan Rep. Edgar R. Erice, Muntinlupa City Rep. Jaime R. Fresnedi, Akbayan Rep. Dadah Kiram Ismula, Albay Rep. Cielo Krisel B. Lagman, Sagip Rep. Paolo Henry M. Marcoleta, Kamanggagawa Partylist Rep. Elijah R. San Fernando, Oriental Mindoro Rep. Alfonso V. Umali Jr., and 4K Rep. Iris Marie Demesa Montes. The lawmakers said Executive Order 94 has clear limitations. As a creation of the Executive Branch, the ICI can only be granted limited subpoena powers and has no authority to cite anyone in contempt. It may compel cooperation only from officials and employees under the Executive Branch, while requests and representations are needed to obtain information and documents from Congress and the Judiciary. Participation from the private sector, meanwhile, remains voluntary. The ICI is also considered ad hoc, as its existence depends solely on the discretion of the President.
limited subpoena powers and operates mainly as a fact-finding body, HB 4453 envisions a stronger, more independent commission.
Among the key provisions of HB 4453 are contempt and expanded subpoena powers covering all branches of government, constitutional bodies, private contractors, and individuals, and full and unrestricted access to all government records.
The bill also seeks to protect from TROs or injunctions by lower courts, except the Supreme Court, while providing a broad-based fivemember composition to ensure representation and expertise.
It aims for transparent hearings that are open to the public and livestreamed.
The bill provides authority to initiate administrative actions and recommend criminal charges directly to the DOJ, Ombudsman, or Comelec and power to recommend remedies for past and ongoing projects and to propose regulatory and legislative reforms affecting planning, funding, and awarding of contracts.
“Their clamor rings loudly and clearly: ferret out the whole truth, exact accountability, and swiftly institute reforms. Let us not disappoint them,” the joint statement said. Jovee Marie N. dela Cruz
THE National Police (PNP) on Monday said that it has not detected or monitored any security threats that could mar the anti-corruption rally scheduled to be held at Luneta (also known as Rizal Park) in Manila on September 21.
The public information officer of the Manila Police District, Maj. Philip Ines, in a press briefing held at the PNP National Headquarters in Camp General Rafael T. Crame, Quezon City, said that despite lack of threats the MPD “will continue to monitor the security situation and plan accordingly.”
He also said that regular police operations will continue even as they evaluate the threat level for the coming protest actions this Sunday.
“We will look at the threat level, but as I mentioned, we are not receiving any threats,” Ines said in a mix of Filipino and English.
The MPD public information officer also said that about 1,000 police officers from their district and 1,400 from the National Capital Region Police will be deployed strategically to secure the event. These places are the US Embassy in Manila, Liwasang Bonifacio, Mendiola, España corner Macaraeg, vicinity of Malacañang Palace, Luneta Park and Department of Public Works and Highways Central Office.
The House leader said the President’s statement should serve as a guiding principle not only for Congress but also for all branches of government working to restore public trust.
“The President has also reminded us against name-dropping and reckless accusations. I share this view. Investigations must be anchored on facts and evidence, not on rumor, innuendo, or hearsay. Only by focusing on the truth can we ensure both accountability and
“This issue is bigger than personalities. It is about safeguarding the people’s money and ensuring that every bridge, road and flood control project truly serves the Filipino people,” Romualdez said.
“The House will remain a coequal partner of the President in building not just infrastructure, but also a Bagong Pilipinas anchored on accountability, honesty and public trust,” he added.
Baste files criminal complaints vs Remulla brothers, others
ABy Joel R. San Juan @jrsanjuan1573
CTING Davao City Mayor Sebastian Duterte on Monday filed a complaint for alleged criminal offenses committed by Justice Secretary Jesus Crispin Remulla and several other key government officials in connection with the arrest of former President Rodrigo Duterte and subsequent turn-over to the International Criminal Court (ICC) in The Hague, Netherlands last March.
Aside from Remulla, other respondents include Interior and Local Government Secretary Juan Victor Remulla, Defense Secretary
Gilbert Teodoro, National Security Adviser Eduardo Año, Justice Undersecretary Nicholas Felix Ty, former National Police (PNP) chiefs Generals Nicolas Torre III and Rommel Marbil, Special Envoy for Transnational Crime Markus Lacanilao, Executive Director of the Philippine Center on Transnational Crimes Undersecretary Anthony Alcantara, Prosecutor General Richard Anthony Fadullon and PNP spokesman Brig. Gen. Jean Fajardo. They were specifically charged with eight counts of kidnapping under Article 267 of the Revised Penal Code (RPC); eight counts of
BRP Diego Silang WIKIPEDIA
Tuesday, September 16, 2025
Economy
1K houses opened for PNR relocatees in Laguna
By Bless Aubrey Ogerio
& Samuel P. Medenilla
T@sam_medenilla
HE government awarded 1,099 housing units to fam -
ilies displaced by the Philippine National Railways (PNR) South Long Haul project in San Pablo City, Laguna.
The new settlement, St. Barts Southville Heights in barangay San Bartolome, was inaugurated on September 15. It will serve as permanent housing for residents cleared
By Jovee Marie N. dela Cruz @joveemarie
THE Department of Education (DepEd)
is asking P928.52 billion under the 2026 National Expenditure Program, to expand and strengthen the Academic Recovery and Accessible Learning (Aral) Program and related initiatives.
Speaker Ferdinand Martin G. Romualdez on Monday expressed his full support for DepEd’s implementation of Aral, describing it as a vital intervention to strengthen the foundational skills of Filipino learners and address the country’s learning crisis. His statement came after Education Secretary Juan Edgardo Angara formally launched Aral over the weekend pursuant to Republic Act 12028, which President Marcos signed in October last year.
Romualdez said the program reflects the President’s vision of transforming the education sector under the Bagong Pilipinas agenda and realizing his goal of ensuring at least one college or technical-vocational graduate in every Filipino family.
“For years, we have aspired to strengthen our students’ skills in reading, mathematics, and science—not only to help them keep pace in class, but to provide a strong foundation for higher levels of learning. Through ARAL, we can now support our children until they become confident in their knowledge,” Romualdez said.
He added that Marcos’s decision to institutionalize Aral is proof of the government’s care and commitment to the future of young Filipinos.
The Speaker also assured both learners and educators that the House of Representatives will provide the necessary support to sustain ARAL and other reforms aimed at uplifting Philippine education.
“As lawmakers and representatives of the people, we fully support the President’s vision to reform and modernize our education
from the right-of-way of Segments 2-7 of the railway line.
The South Long Haul, also known as the PNR (Philippine National Railways) Bicol line, is a 577-kilometer project linking Metro Manila to Batangas and the Bicol region through 33 stations.
The line is expected to cut travel time between Manila and Legazpi and improve connectivity for trade and commuting in Southern Luzon.
National Housing Authority officials said the San Pablo site
system. We will not stop; we will continue to craft laws and allocate funds to address the needs of students and teachers,” Romualdez stressed.
Under Aral, learners from Kindergarten to Grade 10 will receive tutorial support in reading, mathematics, and science to help them attain the required competencies at their grade level.
For School Year 2025–2026, the program will first prioritize reading (Aral-Reading) to support students identified as low, emerging, or frustrated readers. The rollout will begin in the second quarter of the school year, with subsequent expansion into Aral-Mathematics (Grades 1–10), Aral-Science (Grades 3–10), and summer programs.
So far, DepEd has identified 6,713,352 learner-beneficiaries, who will be assisted by 447,537 tutors and 45,084 school heads. Tutors will include teachers, para-teachers, pre-service teachers, and other trained individuals, all of whom will receive proper training and fair compensation. Parents and guardians will also be engaged to reinforce lessons at home.
Romualdez emphasized that prioritizing education spending is a constitutional mandate that remains central to Congress’ work.
“As lawmakers, we have consistently upheld education as a priority investment, as mandated by the 1987 Constitution. Every peso spent on classrooms, textbooks, and supplemental learning support is an investment in the nation’s future. Through Aral, we are not just helping our children catch up—we are building a Bagong Pilipinas where education is a treasured asset for every Filipino family,” he said.
The Speaker vowed that the House will continue to ensure sufficient funding for Aral and other DepEd initiatives in the coming years, cementing President Marcos’s legacy of a reformed and strengthened education system that empowers both teachers and students.
will be supported by community facilities currently under construction, including a school, daycare center, health center, livelihood training hub, market and a covered court. A tricycle terminal and a material recovery facility are also planned.
The families from Laguna are the first batch of beneficiaries under the project’s relocation program. The NHA said five more housing developments in Quezon province are underway to accommodate additional households affected by railway construction.
The NHA broke ground for the San Pablo project in October 2023.
President Marcos said the P769-million housing project in San Pablo City for squatter families, who were displaced by the railway project, is proof of the country’s inclusive economic growth.
On Monday, the Chief Executive inaugurated the housing units in St. Barts Southville Heights which will benefit 1,099 families.
The beneficiaries previously lived along PNR tracks.
“Along with our infrastructure development, is the improvement of the lives of our countrymen,”
Marcos said in Filipino during the inaugurations ceremony of the houses. He assured the resettled beneficiaries will not only be given new homes, but also other amenities such as schools, multipurpose covered courts, health center, da care center, tricycle terminal, and a market.
“The government will complete all the facilities that will provide comfort and stability to your new
community,” Marcos said.
The President urged the former informal settlers to take care of their new homes and their new community.
The St. Barts Southville Heights housing development is joint initiative of the Department of Transportation and the National Housing Authority (NHA) through its Pambansang Pabahay Para sa Pilipino (4PH) program, which aims to provide “safe, decent, and affordable housing to millions of Filipinos.”
‘Metro Manila not most expensive place to live’
THE chairman of the House Committee on Labor and Employment on Sunday said that while Metro Manila (NCR) has the highest minimum wage in the country, nearby provinces such as Bulacan, Cavite, Laguna, and Rizal record higher poverty thresholds—showing that the cost of basic survival is actually greater outside the capital.
Citing Philippine Statistics Authority (PSA) data, Cavite Rep. Ramon Revilla III, the panel chairman, noted that in 2023 the annual per capita poverty threshold was P37,711 in NCR, compared to P39,202 in Bulacan, P39,165 in Cavite, P38,492 in Laguna, and P39,055 in Rizal. For a family of
four, this translates to monthly survival thresholds ranging from P12,831 to P13,131—all higher than Metro Manila’s P12,570.31.
“Many believe Manila is the most expensive place to live, but PSA data shows that Cavite, Laguna, Bulacan, and Rizal now have higher living costs than NCR. This means that even with higher wages in Manila, workers outside the capital are struggling more,” Revilla said.
Revilla’s committee recently conducted a hearing on key measures to promote wage fairness and employment opportunities, including House Resolution No. 232 urging the Regional Tripartite Wages and Productivity Boards (RTWPBs) to act promptly on
pending wage hike petitions.
Revilla highlighted the unfairness of the current setup where workers separated only by a bridge or even a traffic light receive different wages simply because of regional boundaries.
“You have two people doing the same job, buying the same goods, but receiving different pay just because of geography. That doesn’t make sense,” he stressed.
The committee also reviewed bills seeking to strengthen labor protections and improve job access, including measures on employment registries (HB 481 and HB 4081) and expanded safeguards against workplace discrimination (HBs 257 and 2228).
Oil firms to hike pump prices again
FUEL pump prices are on the rise again this week. For the fifth consecutive week, gasoline prices will go up P0.10 per liter. Diesel and kerosene prices will also increase for the fourth straight week by P0.50 and P0.10 per liter, respectively.
Among the reasons for this week’s price adjustment include the tensions brought by the Israeli attack in Doha, Qatar, targeting Hamas leaders, the Russian drone incursion into Poland’s airspace, and announcement of the Organization of Petroleum Exporting
Countris+ (Opec +) on the production hike at a lower rate than expected. The new pump prices will take effect at 6:01 a.m. for most oil companies expect Cleanfuel which will adjust prices at 4:01 p.m. Oil companied adjust their prices
Revilla said the PSA data validates workers’ long-standing concerns that wages in the provinces do not keep pace with the real cost of living. Rising food, housing, and transportation costs in rapidly urbanizing areas, he said, are eroding household incomes.
“If wages don’t meet the poverty threshold for a family, then the wage is not livable. And if it’s not livable, it must be reformed. This is at the core of our push for regional wage justice,” Revilla emphasized. He called on his colleagues and concerned agencies to pursue not just immediate wage adjustments but long-term reforms that reflect the country’s shifting economic realities.
Jovee Marie N. dela Cruz
every week to reflect movements on prices of refined fuel products, freight and market premiums in the international market. Oil companies last week increased prices per liter of gasoline by P1.00, diesel by P1.40, and kerosene by P0.70.
People, Planet and Profits–the Pillars of Sustainable Development
By Henry J. Schumacher
THE ‘flood-control issues’ are just the tip of an iceberg!
Sustainable Development and Inclusive Growth must be on the agenda of Government by effectively addressing the three main pillars: economic, environmental, and social. These three pillars are informally referred to as people, planet, and profits.
It is essential to understand that the implementation of sustainable development is not limited to government. Inclusive growth must be a joint commitment of business, civil society, international and local donor organizations, and of course the national and local governments. It must be free from corruption!
But let’s go one step further: the successful implementation of the three pillars—people, planet, profits—also hinges on communities or societies that want to pursue sustainability. The following six principles of sustainability can help a community ensure that its social, economic, and environmental systems are well integrated and will endure:
1. Maintain and, if possible, enhance, its resident’s quality of life QUALITY of life or livability differs from community to community. It has many components: income, education, health care, housing, employment, legal rights on the one hand; exposure to crime, pollution, disease, disaster, and other risks on
the other. Each locality must define and plan for the quality of life it wants and believes it can achieve, for now and for future generations. And this applies to rural and urban communities. In addition to reducing poverty, it is also important to amplify the resilience of Filipinos. Bringing poor people just above the poverty line may not be enough if they can easily be pushed back below it if another crisis hits.
2. Enhance local economic vitality
A VIABLE local economy is essential to sustainability. This includes job opportunities, the provision of infrastructure and services, and a suitable business climate. A sustainable economy is also diversified, so that it is not easily disrupted by internal or external events or disasters. Especially in the rural environment, the introduction of agricultural supply chains is essential, a clear area where big business can help develop sustainable agriculture by taking the middleman out.
3. Promote social and intergenerational equity
A SUSTAINABLE community’s resources and opportunities are available to everyone, regardless of ethnicity, age, gender, cultural background, religion, or other characteristics. Further, a sustainable community does not deplete its resources, destroy natural systems, or pass along unnecessary hazards to its great-great-grandchildren.
4. Maintain and, if possible, enhance, the quality of the environment
A SUSTAINABLE community sees itself as existing within a physical environment and natural ecosystem, and tries to find ways to co-exist with that environment. It does its part by avoiding unnecessary degradation of the air, oceans, fresh water, and other natural systems. It tries to replace detrimental practices with those that allow ecosystems to continuously renew themselves. In some cases, this means simply protecting what is already there by finding ways to redirect human activities and development into less sensitive areas. But a community may need to take action to reclaim, restore, or rehabilitate an already-damaged ecosystem.
5. Incorporate disaster resilience and mitigation into its decisions and actions AFTER the recent flooding in many parts of the country and the obvious lack of flooding prevention although funds were made available, we must understand that a community is resilient in the face of inevitable natural disasters like typhoons, earthquakes, floods, and drought if it takes steps to ensure that such
events cause as little damage as possible, that productivity is only minimally interrupted, and that quality of life remains at (or quickly returns to) high levels. A disaster-resilient community further takes responsibility for the risks it faces and, to the extent possible, is self-reliant.
6. Use a consensus-building, participatory process when making decisions PARTICIPATORY processes are vital to community sustainability. Such a process engages all the people who have a stake in the outcome of the decision being contemplated. It encourages the identification of concerns and issues, promotes the wide generation of ideas for dealing with those concerns, and helps those involved find a way to reach agreement about solutions. It results in the production and dissemination of important, relevant information, fosters a sense of community, produces ideas that may not have been considered otherwise, and engenders a sense of ownership on the part of the community for the final decision.
As mentioned above, there is the need of government (national and local) to work closely with business, civil society, and communities in achieving the changes needed to create sustainable development and inclusive growth. And the time to do this is NOW! Comments are appreciated; email me at hjschumacher59@ gmail.com.
Kaspersky warns of surge in malicious mobile apps stealing data and money from Filipinos
FILIPINOS are at risk of losing money and personal data as fake mobile apps posing as trusted banking, e-wallet, and government service platforms continue to spread, cybersecurity firm Kaspersky warned on Monday.
Designed to look and function like legitimate apps, these malicious programs—often Trojan bankers—quietly run in the background once installed. They can intercept sensitive information, overlay fake login screens, and even allow cybercriminals to remotely control infected devices to carry out unauthorized transactions.
“Cybercriminals are constantly refining their tactics, and fake mobile apps have become one of the most effective tools in their arsenal,” said Adrian Hia, Managing Director for Asia Pacific at Kaspersky. “These apps may seem legitimate, but once downloaded, they’re capable of stealing banking credentials, bypassing security checks, and causing serious financial damage.”
Based on Kaspersky’s latest Financial Cyberthreats Report, the number of users encountering
Remulla:
mobile banking Trojans surged 3.6 times in 2024 compared with the year before, while cryptocurrencyrelated phishing attempts soared by 83.4 percent.
In the Philippines, Kaspersky detected 82,565 financial phishing attempts in the first half of 2024, before dipping to 59,115 during the same period in 2025.
While incidents fluctuate, the threat remains persistent, with ransomware infections also continuing to affect local users, he noted.
To stay safe, Hia urged consumers to rely only on trusted app stores, use multi-factor authentication, review app permissions carefully, and install security solutions.
Even then, vigilance remains key, as attackers are finding ways to bypass the defenses of official marketplaces like Google Play and Apple’s App Store.
Businesses, meanwhile, were encouraged to update systems promptly, deploy endpoint protection tools, enforce strict access controls, and subscribe to threat intelligence services to stay ahead of emerging cyberthreats. Lorenz S. Marasigan
No WPP promise made to Marcoleta for Discaya couple
JMarcos supports public outrage, calls for peaceful protests over corruption
By Samuel P. Medenilla @sam_medenilla
WITH the Independent Commission for Infrastructure (ICI) set to start its probes soon, President Ferdinand Marcos Jr. is hopeful the public outcry against anomalous flood control projects will no longer escalate into violent demonstrations similar to those in Indonesia and Nepal.
ber, I brought this up. And it is my interest that we find a solution to what has become a very egregious problem,” Marcos said.
The President first announced his decision to have the substandard and non-existent flood control projects in his fourth State of the National Address (SONA) last July.
He issued Executive Order No. 94 forming the three-person ICI on Thursday to look into problematic public works in the last 10 years.
against erring government officials and personnel, who are engaged in irregularities in public works as long as it will remain peaceful.
“Let them know your sentiments, let them know how they hurt you, how they robbed you. Let them know, shout at them, do everything, demonstrate, just keep it peaceful, because when it’s not peaceful, it’s difficult for us. We will have to—the police will have to do its duty to maintain peace and order,” Marcos said. He said he would join the said demonstrations if he wasn’t president.
By Joel R. San Juan @jrsanjuan1573
USTICE Secretary Jesus Crispin Remulla on Monday denied giving former Senator Blue Ribbon Committee chair Sen. Rodante Marcoleta his commitment to place contractor-spouses Pacifico “Curlee” and Sarah Discaya under the Witness Protection Program (WPP) following their testimonies linking House Speaker Martin Romualdez and several lawmakers in the anomalous multi-billion floodcontrol projects in the country.
At a press briefing, Remulla maintained that there would have to be an evaluation first of the evidence and the veracity of the claims of the Discayas before their inclusion in the WPP can be considered.
He also maintained that a forensic accounting of stolen funds allotted for flood-control projects should first be conducted.
“I cannot say that I promised something that I cannot deliver,” Remulla said.
Remulla was commenting on Marcoleta’s statements made during a press conference that he assured him of the possibility of granting his request to place the Discayas under the WPP.
But Remulla said he told Marcoleta that his request would be considered but made no commitment that it would be granted.
The DOJ secretary added that the elements of the crime should be first established before a judgment on whether a person is qualified to be placed under the WPP is made.
“Are we operating on conspiracy theory? Was it a conspiracy between government agencies? Is it the DPWH [Department of Public Works and Highways] and Congress or the Senate and the contractors? We have to find out first the elements of the crime before we make judgement on the readiness to become a state witness, am I right? It is not that easy,” Remulla pointed out.
Meanwhile, Remulla said the National Bureau of Investigation (NBI) has already confirmed three flood control projects in the first district of Bulacan to be non-existent or “ghost projects.”
“So, they’re just tying up the loose ends so that we can file a case on that,” Remulla said.
He said these ghost projects cost the government at least P300 million of taxpayers’ money.
While plunder cases may be filed against those involved, Remulla admitted that a case of malversation would be easier to prove before a court.
“We will have to look at it completely and there are other laws that we can put into play about how we deal with draft cases,” he stressed.
“When people make requests, okay, we’ll consider it, we’ll help. But does it have to be a commitment that overrides all other interests in the country? When we still have to consider whether a person is telling the truth? They should give us a chance, out of respect, to evaluate that person. Things shouldn’t just happen like that, just all of a sudden,” Remulla stressed.
ABy Jonathan L. Mayuga @jonlmayuga
TOTAL of 14,670 agrarian reform beneficiaries are set to receive their certificates of condonation with the release of mortgage, relieving them of agrarian debts worth around P1.6 billion, the Department of Agrarian Reform (DAR) said. The release of mortgages to the ARBs was announced by DAR in tribute to President Ferdinand Marcos Jr.’s 68th birthday celebration last September 13.
The mortgages cover a combined area of 16,964 hectares of CARP-awarded lands.
DAR Secretary Conrado Estrella III said the series of activities, dubbed as “Sabayang Handog sa Bayan para sa Kaarawan ni PBBM,” is being held across regional and provincial agrarian reform offices nationwide in recognition of the President’s unwavering support for small farmers and the less privileged farming sector. “This is our way of greeting our President on his birthday and expressing our gratitude for putting the country’s agrarian reform program at the forefront of his administra -
Several groups, including the Church, schools, and transport groups are set to hold their protest on the said day in Metro Manila.
“Well, that is only if we don’t do anything about it. Look, what we have found, you have to remem -
The Chief Executive made the statement in a press conference in Malacañang last Monday when asked if the scheduled mass demonstration on 21 September 2025 to denounce rampant corruption in public works and commemorate the 53rd anniversary declaration of Martial Law was a “cause for concern” for his administration.
The ICI is chaired by former Supreme Court (SC) Justice Andres B. Reyes Jr. and its members include former Department of Public Works and Highways (DPWH) Secretary Rogelio “Babes” L. Singson and SGV & Co. country managing partner Rossana A. Fajardo. Baguio City Mayor Benjamin B. Magalong will serve as a special adviser of the ICI for its investigations.
Marcos said he supports the public showing their outrage
Indonesia was hit by violent protests, which resulted in fatalities, as the citizens opposed the lavish perks of its lawmakers, low wages, and growing unemployment. A similar deadly unrest happened in Nepal as its people opposed the government ban on social media platforms and corruption in its government.
THE Department of Public Works and Highways (DPWH) has dismissed three officials linked to ghost flood-control projects in Bulacan, finding them guilty of disloyalty, grave misconduct, gross neglect of duty, and conduct prejudicial to the best interest of the service.
In a decision dated September 15, DPWH Secretary Vivencio B. Dizon ordered the dismissal of Assistant District Engineer Brice Ericson D. Hernandez, Construction Division Chief Jaypee D. Mendoza, and Accountant III Juanito C. Mendoza.
All three were formerly assigned to the Bulacan First District Engineering Office.
The ruling stemmed from ocular inspections and an Internal Audit Service (IAS) report that revealed two multimillionpeso flood-control contracts in Bulacan—Contract ID No. 24CC0604 in Barangay Perez, Bulakan, and Contract ID No. 25CC0252 in Barangay Piel, Baliuag—had been fully paid despite incomplete documentation and the absence of actual structures on the ground.
According to the decision, the officials had certified false accomplishments, approved payments despite no construction,
and released retention money despite missing requirements— acts that demonstrated “willful disregard, if not gross and outright violation of procurement and auditing rules.”
“This flagrant betrayal of duty deprived the Filipino people of essential infrastructure that could have safeguarded lives and strengthened communities,” the ruling said.
The three officials were ordered dismissed from the service, with perpetual disqualification from holding public office, forfeiture of retirement benefits (except accrued leave credits), and cancellation of civil service eligibility.
“The decision is without prejudice to the filing of criminal charges before the Office of the Ombudsman,” the decision read.
The dismissal forms part of a broader sweep by Dizon, following Senate hearings that exposed systemic irregularities in flood-control contracts, including “ghost” projects attributed to shell contractors such as Wawao Builders, St. Timothy, and St. Gerard Construction, among others.
The department has also filed multiple criminal complaints with the Ombudsman in recent weeks, escalating a corruption probe that began under thenSecretary Manuel Bonoan.
Groups express dismay over independent commission probe members
By Justine Xyrah Garcia
SEVERAL civil society organizations on Monday expressed dismay at the members chosen by Malacañang to be part of the independent probe on anomalies surrounding flood control projects.
Trillion Peso March Spokesperson Francis Aquino-Dee said they were not completely satisfied since no one from civil society was included in the Independent Commission for Infrastructure (ICI), the body that will investigate anomalous flood control and other infrastructure projects.
“The ones involved in the issue came from the executive and legislative branches. Where can the balance come from? We think it would have been better if civil society had a representative here,” he said.
Aquino-Dee also emphasized that until Congress enacts a measure, the powers of the commission will remain limited.
“The authority to issue subpoenas and contempt powers must come from Congress so that all government agencies will be compelled to provide information on corruption,” he added.
This was echoed by Akbayan Party-list Rep. Perci Cendaña.
He said if Malacañang wants to take seriously the probe on corruption in government projects, then House Bill No. 4453 or the Independent Commission Against Infrastructure Corruption Act should already be passed.
“That’s the only way we can ensure that this is truly independent…The only way for them to be truly effective is if there is a law,” Cendaña said.
Fr. Albert Delvo, chairman of Manila Ecclesiastical Province School Systems Association, also called on President Marcos to bring the investigation into “positive fruition”
Delvo said the chief executive has the power to ensure that the investigation process
Tribute to PBBM’s 68th birthday: DAR set to free 14,670 more ARBs from agrarian debts
tion’s anti-poverty agenda,” Estrella said. As of August 2025, a total of 322,200 ARBs have already been freed from agrarian debts amounting to P41 billion. Among those set to be freed from debts on the President’s birthday are: n 4,498 ARBs in Negros Island Region (NIR) who will receive 7,462 COCROMs that would condone a combined debt of P716.655 million covering an area of 3,464 hectares of land; n 3,610 ARBs in Soccsksargen (Region 12), with 3,699 COCROMs condoning P278.579 million covering 6,213.54 has.;
n 1,663 ARBs in Central Visayas (Region 7), 819 COCROMs, P319.272 million covering 2,97.16 has.; n 951 ARBs in Northern Mindanao (Region 10), 1,130 COCROMs, P147.524 million covering 2,412.33 has.; n 910 ARBs in the Western Visayas (Region 6), 1,151 COCROMs, P72.694 million covering 893 has.; n 899 ARBs in Eastern Visayas (Region 8), 924 COCROMs, P37.613 million covering 1,367.76 has.;
See “pbbm,” A6
will be swift and that those responsible will truly be held accountable.
“The concerned legislators, contractors, and complicit entities must be prosecuted without delay, jailed, and made to return what was stolen,” he added.
On Monday morning, President Marcos named retired Supreme Court Associate Justice Andres B. Reyes Jr. as chairperson of the ICI. Other members include former Department of Public Works and Highways Secretary Rogelio Singson, SGV Country Managing Partner Rossana Fajardo, and Baguio City Mayor Benjamin Magalong as special adviser and investigator.
House to ‘jumpstart legislative mill’ amid allegations of flood control irregularities
AMID concerns over flood control programs, key House committees have been directed to “jumpstart the legislative mill” to tackle the urgent needs of Filipino families.
Speaker Ferdinand Romualdez said he met with chairmen of key committees to tackle challenges facing the House.
Romualdez assured the public that the House will address allegations of irregularities in flood
control projects with fairness and transparency, while stressing the need to “jumpstart the legislative mill” to respond to the urgent needs of Filipino families.
Romualdez reminded lawmakers not to let political disputes overshadow pressing legislative priorities on food security, job creation, healthcare, education, and national defense.
Among those who joined Romualdez in the meetings were key
committee chairpersons: Agriculture and Food Chair Mark Enverga, Aquaculture and Fisheries Resources Chair Tsuyoshi Horibata, Ways and Means Chair Miro Quimbo, Agrarian Reform Chair Eleanor Bulut Begtang, Economic Affairs Chair Antonio Legarda Leviste, Government Enterprises and Privatization Chair Eric Olivarez, Health Chair Ciriaco Gato, Basic Education Chair Roman Romulo, Higher and Technical
Education Chair Jude Acidre, and Public Works and Highways Chair Romeo Momo.
“These are serious matters, and I emphasized that the integrity of the House must always be above question,” Romualdez said. “The people deserve clear answers on where public funds go and who truly benefits from them.”
He underscored that inquiries must proceed openly and responsibly but warned against allowing
Govt wipes clean ₧3.8M in agrarian reform debts of 135 Boholanos
ATOTAL of P3.8 million in agrarian reform debts of 135 agrarian reform beneficiaries in the town of Carmen, Bohol Province have been waived by the government, the Department of Agrarian Reform (DAR) said.
The DAR said it has distributed the Certificates of Condonation with Release of Mortgage (COCROM) during a simple ceremony held at the Carmen Gymnasium.
The concession covers a total of 120.4583 hectares of agricultural land, freeing the ARBs from long-standing land amortization obligations. Additionally, two ARBs received their electronic titles
(E-titles) covering 1.7489 hectares under the Support to Parcelization of Lands for Individual Titling project, also known as Project SPLIT.
Republic Act No. 11953, or the New Agrarian Emancipation Act, erases unpaid amortizations, interests, penalties, and surcharges of ARBs, granting them full ownership of lands awarded under the Comprehensive Agrarian Reform Program (CARP).
“The New Agrarian Emancipation Act fulfills the government’s promise of freeing farmers from debt, enabling them to focus on making their lands productive
and securing a better future for their families,” DAR Regional Director Sheila B. Enciso said.
One of the beneficiaries, Bernardo Lagunoy, who had the highest condonation amount at P180,364.51, expressed his gratitude.
He also thanked DAR Secretary Conrado Estrella III and President Ferdinand R. Marcos for the initiative.
DAR Provincial Agrarian Reform Program Officer Ronald I. Pumatong highlighted the significance of the event: “This condonation marks a new beginning for our farmers as they are finally emancipated from financial
obligations that have burdened them for years.”
DAR Assistant Regional Director for Administration Arthur D. Dulcero added: “This is not only debt relief but also a renewed opportunity for our farmers to work their land with dignity and confidence.”
The ceremony was also attended by representatives from local government, including Gil Bongato, Executive Assistant of the Governor; Marites Gunday, representative of 3rd District Congresswoman Hon. Alexie Tutor; Samuel Buaya, representative of the Municipal Mayor; and Municipal Assessor Pompeo R. Doria. Jonathan L. Mayuga
investigations to paralyze Congress’ broader mandate of service.
“Every day spent on politics is a day lost in public service. The mandate of Congress is to work for the people,” Romualdez said.
He cited the 19th Congress as the most productive in history, having passed laws that delivered direct benefits to the people by setting aside politics. He said the 20th Congress must follow the
PBBM. . .
Continued from A5
n 721 ARBs in Davao (Region 11), with 1,001 COCROMs condoning P9.833 million covering 692.98 has.;
n 676 ARBs in Cagayan Valley (Region 2), 1,029 COCROMs, P32.200 million covering 368.50 has.;
n 503 ARBs in Bicol (Region 5), 583 COCROMs, P4.023 million covering 578.63 has.;
n 183 ARBs in Central Luzon (Region 3), 211 COCROMs, P11.900 million covering 352.58 has.;
same focus.
“Let us continue the investigations against corruption so that the truth will come out. At the same time, let us double our efforts in passing laws and programs that directly benefit the people: affordable food, decentpaying jobs, free hospitals and medicine, education for all, and security in our communities,” Romualdez said.
n 56 ARBs in Calabarzon (Region 4-A), 60 COCROMs, P6.195 covering 42.49 has; and n 51 ARBs in Zamboanga Peninsula (Region 9), 35 COCROMs, P3.538 million covering 109.5 has. Estrella stressed that the condonation of the ARBs’ unpaid amortizations, including interest, penalties, and surcharges, is one of President Marcos’ flagship programs.
The President first proposed condoning ARB debts upon assuming the presidency in July 2022, which eventually led to the enactment of Republic Act No. 11953, signed into law in July 2023.
Jovee Marie N. Dela Cruz
Editor: Angel R. Calso
Ukrainian drones hit Russian oil refinery, disrupting fuel supplies
By The Associated Press
UKRAINIAN drones have struck one of Russia’s largest oil refineries, sparking a fire, Russian officials and Ukraine’s military said Sunday.
The overnight strike on the Kirishi refinery, in Russia’s northwestern Leningrad region, follows weeks of Ukrainian attacks on Russian oil infrastructure that Kyiv says fuels Moscow’s war effort.
The facility, operated by Russian company Surgutneftegas, produces close to 17.7 million metric tons per year (355,000 barrels per day) of crude, and is one of Russia’s top three by output.
More than three years since Russia’s full-scale invasion of Ukraine, drones continue to be a key weapon for both sides. Multiple Russian drones crossed into Poland on Wednesday, prompting NATO to send fighter jets to shoot them down and underlining long-held concerns that the fighting might spill over beyond Ukraine’s borders.
According to Ukraine’s General Staff, explosions and a fire were reported at the Kirishi refinery. It posted a photo appearing to show a blaze and clouds of smoke against a night sky.
Regional Gov. Alexander Drozdenko said that three drones were downed overnight in the Kirishi area, with falling debris sparking a fire at the facility. He said that no one was injured, and the blaze was put out.
Gasoline shortages AS of Sunday afternoon, Russian officials offered no further comment on the consequences of the strike, and it wasn’t immediately possible to verify these. At least 80 Ukrainian drones were shot down overnight over Russia, the annexed Crimean Peninsula and the adjacent Sea of Azov, according to the Russian Defense Ministry. Ukrainian drones previously targeted the Kirishi refinery in March, causing minor damage, according to social media posts published at the time by Drozdenko. Russia remains the world’s second-largest oil exporter, but a seasonal rise in demand and sus -
tained Ukrainian drone strikes have caused gasoline shortages in recent weeks. Gas stations have run dry in some regions of the country, with motorists waiting in long lines and officials resorting to rationing or cutting off sales altogether.
To try to ease the shortage, Russia has paused gasoline exports, with officials on Wednesday declaring a full ban until Sept. 30 and a partial ban affecting traders and intermediaries until October 31.
Russian railway incidents
ALSO in the Leningrad region, a diesel locomotive was derailed during the night, local Gov. Drozdenko said Sunday. He said the incident occurred near Gatchina south of St. Petersburg. Russia’s No. 2 city, which was known as Leningrad during Soviet times, is surrounded by but not included in the region of the same name.
Drozdenko said the locomotive’s driver was trapped in his cabin, and later died of his inju -
ries while being transported to a hospital. He added an official investigation would check for signs of sabotage.
Separately, a bomb planted along railway lines in Russia’s Oryol region has killed three people, according to reports by local Gov. Andrey Klychkov. He said victims had been inspecting the track, and identified one as a member of Russia’s National Guard.
According to Klychkov’s posts, published late Saturday and Sunday, the incident happened near the town of Maloarkhangelsk, about 200 kilometers (120 miles) from the Ukrainian border. Russian officials didn’t immediately comment on what caused it.
Cyberattacks mar Russian voting
ELSEWHERE , as some Russians headed to the polls to elect local governors and deputies on Sunday, the head of the Russia’s main electoral body told reporters that it and Russia’s electronic voting system were facing a large wave of cyberattacks.
Ella Pamfilova, of the Central
Election Commission, said that “an unprecedented attack is underway” on its digital systems, but assured the public that it wouldn’t affect the outcome of the votes.
The commission’s website appeared to be down for much of Sunday, when 21 out of Russia’s more than 80 regions were set to elect new governors. Seats in nearly a dozen regional assemblies and various municipal bodies were also up for grabs.
But few expected a meaningful challenge to President Vladimir Putin’s United Russia party and its supporters, following a sweeping crackdown on dissent that came with Moscow’s all-out invasion of Ukraine on Feb. 24, 2022. Almost 100 denial-of-service attacks were recorded on Sunday on online resources linked to the elections, according to Alexander Izhko of Russia’s media and digital watchdog, Roskomnadzor. Izhko spoke at a media briefing Sunday. A denial-of-service attack involves flooding a site with data to overwhelm it and knock it offline.
Tuesday, September 16, 2025
Qatar hosting summit over Israeli attack in Doha, seeking to restrain such assaults
By Jon Gambrell The Associated Press
UBAI, United Arab Emir -
Dates—Qatar prepared Monday to host a summit over Israel’s attack on Hamas leaders in Doha last week, hoping a group of Arab and Islamic nations will offer a way to restrain Israel as its war on Hamas in the Gaza Strip grinds on.
The attack on Hamas leaders came as Qatar serves as a key mediator in an effort to reach a ceasefire in the war, something Doha insisted it will continue to do even after the assault.
Since Hamas’ October 7, 2023, attack on Israel, Israel has retaliated against the militant group and others in Iran’s so-called “Axis of Resistance,” launching strikes in Iran, Lebanon, the Palestinian territories, Syria, Qatar and Yemen. That’s led to a wider anger by Mideast nations already enraged by the over 64,000 Palestinians killed in Gaza—and a growing concern that the US security umbrella in the Gulf Arab states may not be enough to protect them.
“It is time for the international
community to stop applying double standards and punish Israel for all the crimes it has committed,”
Sheikh Mohammed bin Abdulrahman Al Thani, Qatar’s prime minister and foreign minister, told a meeting Sunday.
However, it remains unclear just what the summit will be able to achieve, given some nations already have diplomatic recognition deals with Israel and may be reluctant to sever ties.
“Considering the deep tensions between the Gulf states and other regional actors, assembling the summit in less than a week, especially given its scale, is a notable achievement that underscores a shared sense of urgency in the region,” the New York-based Soufan Center said. “The key question is whether ... (the summit will) signal a shift toward more consequential measures against Israel, including diplomatic downgrades, targeted economic actions and restrictions on airspace and access.”
Iran, which attacked Qatar in June, attending summit IRAN , which struck Al Udeid
to extradition and that should be in conformity with national laws and applicable bilateral and multilateral treaties.
Air Base in Qatar after America bombed its nuclear sites in June during its war with Israel, sent President Masoud Pezeshkian to attend the meeting. Before leaving Tehran, Pezeshkian noted the wide breadth of nations Israel has attacked since October 7.
“This regime has attacked many Islamic countries, including Qatar, Lebanon, Iraq, Iran and Yemen,” he
arbitrary detention under Article 124 of the RPC; qualified direct assault under Article 148 of the RPC; two count of expulsion under Article 127 of the RPC; and usurpation of judicial functions under Article 241 of the RPC; and violation of the Anti-Graft and Corrupt Practices Act.
The mayor’s camp argued that the arrest of the former President upon his arrival at the airport last March 11 was illegal and without basis.
They claimed that Duterte was arrested not on the basis of a valid warrant of arrest but merely based on an Interpol diffusion notice which has limitations such as the arrest should be done in relation
He also pointed out Remulla’s previous statement that the government will not cooperate with the ICC considering that the Philippines is no longer a memberstate of the Rome Statute and that if a warrant was issued it would have to undergo processes before a local court.
“From the very beginning, Duterte, his counsels and our family questioned the very existence of an ‘ICC Warrant.’ What was shown initially at the plane was only an email printout… No hard copy with wet signature and with authentic seals was ever shown to Duterte, his legal team, his family despite several demands to show the same,” the mayor said.
“The arrest and transfer of Duterte blatantly violated Article 59 of the Rome Statute and Rules of Court which directs that there should be proceedings to be performed in the custodial State,” he added.
Meanwhile, Remulla said the filing of the new charges against him before the Ombudsman was actually intended to derail his bid for the Ombudsman position which was left vacant following the retirement of Ombudsman Samuel Martires last July 27.
It can be recalled that it was Sen. Imee Marcos who first filed a case against Remulla and several other government officials responsible for the arrest and turn-over of Duterte to the ICC.
Last May 5, the Office of the Ombudsman issued an order giving the Remulla brothers, Marbil,
said. “It does whatever it wants, and unfortunately, the United States and European countries also support these actions.”
Writing on the social platform X, Iranian Foreign Minister Abbas Araghchi added: “Iran stands with Qatar and indeed all Muslim brothers and sisters, particularly against the scourge that is terrorizing the region.” Araghchi and
Torre III and Lacanilao 10 days to file their counter-affidavits to the complaints filed by Marcos. They were charged before the Ombudsman with graft, arbitrary detention, grave threats, false testimony, perjury, usurpation of authority or official functions and for violation of R.A 7438 or An Act Defining Certain Rights of Person Arrested, Detained or Under Custodial Investigation As Well as the Duties of the Arresting, Detaining and Investigating Officers.
Last week, the Ombudsman dismissed the cases, prompting Marcos to file a motion for reconsideration, in an effort to prevent Remulla’s inclusion on the short list of candidates for Ombudsman to be submitted by the Judicial and Bar Council to President Marcos.
Pezeshkian did not mention Iran’s attack on Qatar.
Qatar has been key in Israel-Hamas war talks
QATAR , an energy-rich nation on the Arabian Peninsula that hosted the 2022 World Cup, long has served as an intermediary in conflicts. For years, it has hosted Hamas’ political leadership at the request of the US, providing a channel for Israel to negotiate with the militant group that has controlled Gaza for years.
But as the Israel-Hamas war has raged on, Qatar increasingly has been criticized by hard-liners within Netanyahu’s government.
Netanyahu himself has vowed to strike all those who organized the Hamas-led attack on Israel in 2023, and in the time since the attack in Qatar, he has doubled down on saying Qatar remains a possible target if Hamas leaders are there.
On Sunday, US President Donald Trump offered renewed support for Qatar.
“We’re with them. You know, they’ve been a great ally,” Trump
“It’s meant to actually try to shoot down my aspiration to be the Ombudsman of this country… They’re really timing it, in that way it will make it impossible for the JBC to get the requirements that I have to submit,” he said.
Remulla said the JBC is expected to come up with its shortlist of nominees to be submitted to the President very soon.
SC spokesman Camille Sue Mae Ting earlier explained that a clearance from the Ombudsman is one of the requirements for applicants under the 2020 Revised Rules of the JBC.
Under Rule 4 (Integrity and Probity), applicants with pending administrative and criminal cases are disqualified for appointment to any judicial posts or to the positions of Ombudsman, Deputy Ombudsman Special Prosecutor
said. “A lot of people don’t understand about Qatar. Qatar has been a great ally, and they also lead a very difficult life because they’re right in the middle of everything.” US Secretary of State Marco Rubio was in Israel on Monday for meetings with Netanyahu and other Israeli officials to express America’s concern over the attack on Qatar and talk about Israel’s planned new offensive on Gaza City.
Netanyahu faces increasing pressure from the Israeli public over the fate of the remaining hostages held in Gaza. There are still 48 hostages remaining in Gaza, of whom 20 are believed by Israel to still be alive. Israel’s offensives in Gaza have killed more than 64,000 Palestinians, according to local health officials, who do not say how many were civilians or combatants. It says around half of those killed were women and children.
The war in Gaza began when Hamas-led militants stormed into southern Israel on Oct. 7, 2023, killing around 1,200 people, mostly civilians, and abducting 251.
or Chairperson or Regular Member of the Legal Education Board. In the case of Remulla, Ting noted that the justice secretary was given until the day of the JBC’s final deliberations to submit its clearance.
“It’s really an organized effort for them to shoot down my candidacy as Ombudsman…They’re making it into a political spectacle which should not be, because we just want to apply for the office that needs a vigorous leader,” Remulla pointed out.
Despite this, Remulla expressed optimism that he would be able to hurdle these legal obstacles before the JBC comes up with a shortlist.
“I think we can still prevail. I think the truth is only my side. I will roll with the punches,” he said.
SMOKE rises from an explosion, allegedly caused by an Israeli strike, in Doha, Qatar, on Tuesday, September 9, 2025. UGC VIA AP
US, South Korea, Japan open joint military drills; North Korea condemns ‘reckless’ show of force
By Kim Tong-Hyung The Associated Press
SEOUL, South Korea—The United States, South Korea and Japan opened an air and naval exercise off a South Korean island Monday in their latest joint drill condemned by North Korea as a “reckless show of strength.”
The exercise called Freedom Edge is aimed at strengthening the countries’ combined operational capabilities in the sea, air and cyberspace and is necessary to counter North Korea’s growing nuclear and missile threats, South Korea’s Defense Ministry said.
The US Indo-Pacific Command said the exercise will include US Marine and Air Force aerial assets and feature enhanced ballistic-missile and air-defense drills, medical evacuations and maritime operations training, making it “the most advanced
demonstration of trilateral defense cooperation to date.”
The exercise off South Korea’s southern Jeju Island runs through Friday.
The powerful sister of North Korean leader Kim Jong Un earlier condemned the drills in state media, saying they show the countries’ confrontational stance toward the North.
“The reckless show of strength made by them in real action in the vicinity of the DPRK, which is the wrong place, will inevitably bring bad results to themselves,” Kim Yo Jong said, using the initials of North Korea’s formal name, the Democratic People’s Republic of Korea.
She also criticized the United States and South Korea over their latest Iron Mace tabletop exercise, which aims to explore ways to integrate Washington’s nuclear
and South Korea’s conventional capabilities to bolster deterrence against North Korean threats. The US and South Korean militaries did not confirm details of the exercise
Australia and Papua New Guinea to sign defense pact
By Rod Mcguirk The Associated Press
MELBOURNE, Australia— Australia and Papua New Guinea’s defense forces will be integrated under a new security pact that will be signed this week, Australian Prime Minister Anthony Albanese said on Monday, as his government attempts to curb China’s security influence in the region.
Albanese said he and his Papua New Guinean counterpart, James Marape, will sign the pact on Wednesday, a day after celebrating the South Pacific island nation’s 50th anniversary of independence from Australia.
US Deputy Secretary of State Christopher Landau will also be in the Papua New Guinea capital, Port Moresby, for the celebrations.
“It is a very significant upgrade in our defense relationship,” Albanese told Australian Broadcasting Corp. in Perth in Western Australia state before flying to Australia’s nearest neighbor.
“It provides for mutual defense, which means that we will provide support for each other, provide for an integration of our interoperability of our assets and our respective defense forces,” Albanese added.
With an estimated population of almost 12 million people, Papua New Guinea is the most populous nation in the South Pacific after Australia. Australia has 27 million people.
The deal will allow the nations’ citizens to serve in both militaries. Australia would offer Australian citizenship as an incentive for Papua New Guineans to enlist in the
Australian military. Australia currently only accepts recruits from its Five Eyes intelligence-sharing partners, including the United States, Britain, Canada and New Zealand.
Three Pacific island nations have changed their allegiances from Taiwan to Beijing since 2019 as China’s influence in the region has grown. The U.S. and its allies are particularly concerned by China’s growing sway in security through police training in Fiji, Kiribati, Samoa, Solomon Islands and Vanuatu.
Australia and Papua New Guinea signed a security agreement in 2023 that broadened the two nations’ defense cooperation and strengthened Australia’s place as the preferred security partner in a region.
The signing was delayed by six months after a separate security deal struck between the United States and Marape’s government sparked protests in Papua New Guinea in May 2023 over concerns that the US pact undermined national sovereignty.
Oliver Nobetau, project director of the Australia–Papua New Guinea Network at the Sydney-based Lowy Institute international policy think tank, said any wording around “exclusivity” of the partnership in the new Australia-Papua New Guinea pact would be significant.
Several Pacific island nations avoid taking sides in the growing strategic competition between US allies and China.
“If there’s any wording around Australia being the security partner of choice for a country like Papua New Guinea, that would be a big win” for Australia, Nobetau said.
“We know that Pacific countries, PNG in particular, have been quite adamant about protecting their sovereignty, which means removing the sort of language that excludes third-party partnerships,” he added.
Albanese had hoped to sign a security and
economic treaty with Vanuatu last week. But concerns within that island nation’s government about how the deal could impact its ability to secure infrastructure funding from China has extended negotiations.
Australian Defense Minister Richard
that was reported to be coinciding with Freedom Edge.
North Korea in the past has carried out its own military demonstrations or weapons tests in
response to joint military exercises of its rivals.
Kim Jong Un’s government has repeatedly dismissed calls by Seoul and Washington to restart negotiations aimed at winding down his weapons programs, as he continues to prioritize Russia as part of a foreign policy aimed at expanding ties with nations confronting the United States.
Since Russia’s invasion of Ukraine, Kim has sent thousands of troops and large shipments of weapons, including artillery and ballistic missiles, to help fuel
President Vladimir Putin’s warfighting.
Kim also visited China earlier this month, and shared center stage with Chinese President Xi Jinping and Putin at a massive military parade, in another step aimed at strengthening his diplomatic leverage.
as China’s influence grows
Marles said the new bilateral treaty would replace an agreement struck in 1977 with a newly independent Papua New Guinea.
“This is a transformational agreement
between ourselves and PNG,” Marles said. Australia would continue to discuss with Fiji and Tonga advancing bilateral defense cooperation, Marles said.
PROTESTERS shout slogans during a press conference to oppose the military exercise called Freedom Edge in Seoul, South Korea, Monday, September 15, 2025. A banner reads “Oppose Freedom Edge.” AP/LEE
A10
Trump makes new push for court approval to fire Fed’s Lisa Cook
By Erik Larson
PRESIDENT Donald Trump on Sunday made a final push to sway a US appeals court to let him oust Federal Reserve Governor Lisa Cook over allegations of mortgage fraud before next week’s Fed vote on interest rates, again telling the court that she’s failed to dispute the claims.
Trump last week asked the Washington-based appeals court to temporarily pause a lower court’s Sept. 9 injunction blocking him from firing Cook while her lawsuit challenging her dismissal proceeds. A ruling from the three-judge appellate panel could come as soon as later Sunday or Monday.
If the appeals court denies the Justice Department’s request for a so-called stay order, the president is likely to immediately ask the Supreme Court to intervene, setting up a series of last-ditch arguments with the justices by both sides before a highly anticipated Fed policy meeting Sept. 16-17.
Trump moved to fire Cook last month after Federal Housing Finance Agency Director Bill Pulte, one of the president’s most outspoken supporters, accused her of committing mortgage fraud. He alleged that she declared two homes in Georgia and Michigan as her primary residence in order to get better loan terms. The real estate transactions predated her time on the Fed.
Cook “has provided no explanation for the contradictory representations apparent on the face of her mortgage agreements, and that alone is grounds to stay the extraordinary” preliminary injunction, the Justice Department said in a filing Sunday afternoon.
Yet Trump’s new filing comes just days after revelations that Cook described the disputed Georgia property as a “vacation home,” according to documents viewed by Bloomberg News. The May 2021 loan estimate was issued by a credit union weeks before Cook purchased the home. The document shows she told the lender that the property wouldn’t be her primary residence.
The Justice Department’s filing did not address those revelations.
Cook’s lawyer Abbe Lowell made his final arguments against Trump’s stay request in a filing on Saturday, repeatedly contending that the Fed’s independence would be shattered if the court allowed the economist to be fired over unproven allegations with questionable motives.
“A stay by this court would therefore be the first signal from the courts that our system of government is no longer able to guarantee the independence of the Federal Reserve,” Lowell said.
“Nothing would then stop the president from firing other members of the Board on similarly flimsy pretexts. The era of Fed independence would be over.”
Lowell portrayed the court battle as a slippery slope with “dire” consequences for the US economy, echoing arguments that Cook made in the lawsuit she filed last month.
“Central banks like the Federal Reserve are independent for a reason: Even the perception of political influence can destroy the investor confidence that is essential for economic growth and stability,” Cook’s lawyer said in Saturday’s filing. “And that bell cannot be unrung.”
The president is seeking to overturn a decision by US District Judge Jia Cobb, who ruled he likely did not have “cause” under the Federal Reserve Act to fire Cook.
Cobb also held Trump likely violated Cook’s constitutional right to due process by trying to fire her via a social media post that did not give her an opportunity to challenge the allegations. In Trump’s Sunday filing, the president argued that Cobb’s decision went too far by saying he didn’t have cause to fire Cook because the alleged misconduct occurred a year before she took office in 2022. The Justice Department called the judge’s findings “backwards” and said she was “reading in limitations that Congress knew how to impose but did not.”
The Fed hasn’t taken a side in the legal fight and has said it will respect the court’s decision. The question for the appeals court is whether to issue a ruling that would put Cobb’s decision on hold while the appeal proceeds, allowing Cook’s dismissal to take effect. Such stays are typically granted if the judges believe an appeal will ultimately succeed on the merits and the party asking for it will face “irreparable harm” without immediate action. Bloomberg News
Investors brace for Fed’s rate decision: Will officials push back against expectations of aggressive cuts?
By Michael MacKenzie, Elena Popina & Liz Capo McCormick
AKEY question for investors this week is whether Federal Reserve officials push back against market bets on a series of interest-rate cuts extending into next year.
A quarter-point reduction is seen as a sure thing when the Fed announces its policy decision Wednesday, with a small potential for a half-point move amid signs US job growth is slowing rapidly. Indeed, President Donald Trump told reporters Sunday that he expects a “big cut” this week. But markets have also priced in reductions continuing deep into 2026 to ward off a recession.
That assumption has driven Treasury yields to the lowest in months, propelled US stocks to record highs and undermined the dollar. Shorter-dated bonds were steady on Monday with the twoyear yield at 3.55%, while the 10year yield was up one basis point at 4.07%.
The risk to those wagers is that Fed Chair Jerome Powell and his colleagues signal that investors have gotten ahead of themselves with inflation stubbornly above the central bank’s target and the impact of tariffs still playing out on prices. That backdrop is amping up scrutiny of Powell’s remarks and officials’ rate projections— the so-called dot plot—to assess whether the Fed plans a more cautious approach on easing policy.
“My gut tells me 25” this week, meaning a quarter-point cut, said Jack McIntyre, a bond portfolio manager at Brandywine Global Investment Management. “The issue is does the statement see the Fed emphasize labor more than inflation?”
McIntyre, for one, has been buying bonds, and has added 30year debt on the view that further evidence of a softening job market may lead investors to view the Fed as having waited too long to ease. Financial markets broadly are leaning toward concerns around the employment picture taking precedence on Wednesday, and the Fed conveying a dovish tone. In bonds, yields on benchmark 10-year Treasuries are around the lowest since April. Meanwhile, the S&P 500 Index is near a historic high, while the tech-heavy Nasdaq 100 Index just posted its longest streak of gains in more than a year on its way to a fresh record on Fri -
day. And in currencies, the dollar has struggled to rebound from its biggest first-half loss since 1973, weighed down in part by expectations of deep Fed cuts.
Some equities traders, however, are hedging against a possible jolt of volatility, in part because the anticipated result of a quarterpoint cut is already priced in. Options traders are betting the S&P 500 will swing about 1% in either direction on Wednesday, which would be the gauge’s biggest move in about three weeks.
For Gareth Ryan, managing director at IUR Capital, the degree of easing reflected in the Fed’s dot plot will be crucial. If it confirms another cut by year-end and in the first quarter of 2026, he said he wouldn’t expect a major reaction in equities.
“But if the dot plot is less clear about first-quarter rate cuts, then that opens the door for a bigger market move,” he said.
“With inflation proving stickier but not reaccelerating, labor data softening and consumer spending stable, traders are increasingly weighing the odds of a more aggressive Fed easing path and how that supports further gains in Treasuries,” said Bloomberg strategist Michael Ball. JPMorgan Chase & Co.’s trading desk has warned of a similar threat for stocks, saying the meeting “could turn into a ‘Sell the News’ event as investors pull back.” Of course, investors also have in mind the pressure on the Fed lately, with Trump repeatedly criticizing Powell as being too slow to lower borrowing costs. And Trump’s economic adviser, Stephen Miran, is potentially on track for confirmation to a post as a Fed governor in time to participate in this week’s decision. In July, when the Fed held rates steady, two voters dissented in favor of a cut. And investors may take their cue from the composition of the vote this time around, said Vineer Bhansali, founder of asset-management firm LongTail Alpha.
If the Fed cuts a quarter-point and there are no dissenters wanting a larger cut, or possibly just Miran if he’s appointed, that would be viewed as hawkish, Bhansali said.
“The market is now actually pricing in a fairly political Fed that’s going to over ease,” he said. “That’s the concept that is the danger.” With assistance from Ye Xie and Alice Gledhill/Bloomberg
LISA COOK ANNA ROSE LAYDEN/BLOOMBERG
Political violence forces leaders to confront security concerns ahead of 2028 elections
By Steve Peoples & Mike Catalini
The Associated Press
MORRISTOWN, N.J.—Even before the killing of Charlie Kirk, Gov. Josh Shapiro of Pennsylvania was struggling with the emotional toll of political violence.
In the middle of the night just five months ago, someone broke into his home and set it on fire. Shapiro, who is also a likely 2028 Democratic presidential contender, was asleep with his wife and children.
And in the weeks since his family fled the blaze, Shapiro has been forced to confront the vexing questions now consuming elected officials in both parties as they face the impact of Kirk’s assassination on their own public lives.
“The emotional challenge for me that’s been the hardest to work through is that,
P500,000; involve jewelry dealers, precious metals and those in precious stones that exceed P1 million; and a casino cash transaction exceeding P5 million or its equivalent in a different currency.
Based on the current estimate, Gatchalian asked if it was fair to say that AMLC monitors a total of P150 million annually and David agreed. If the full budget proposed by the AMLC is granted, this will allow AMLC to obtain new tools to not only detect financial crime but also prevent it from worsening.
“You can see the support of our senators because we are relying on AMLC to detect financial crimes while it’s still early so the problem doesn’t get worse. Because if we detect it early, the enforcement agencies are alerted, the Senate is alerted, we can expose them, then this doesn’t become worse and worse,” Gatchalian said.
“That’s why we are inclined to restore your P162 million with the assurance that
as a father, the career chose, that I find great purpose and meaning in, ended up putting my children’s lives at risk,” Shapiro, a father of four, told The Associated Press. “Make no mistake, the emotional burden of being a father through this has been something that continues to be a challenge for me to this day.”
Across the nation, it is much the same for Republican and Democratic officials after another stunning act of political violence. Politicians in both parties and at virtually every level of public service are suddenly being forced to deal with acute security concerns—and feelings of grief, anger and fear—as they move deeper into a fraught election season.
Some political leaders are canceling public appearances. Others are relying on a large police presence to keep them safe. And still others insist that the fallout from Kirk’s death won’t have any impact
AMLC will have to increase its capacity and capability so that financial crimes can be stopped at an early stage,” he also said.
In his presentation, David said the bulk of the AMLC proposed budget will be for the maintenance and enhancement of the AMLC Cybersecurity and database which amounts to P125.56 million.
David said this includes the purchase of blockchain technology which will enable AMLC to examine virtual transactions.
However, only P93.01 million of the budget was granted under the NEP, leaving a difference of P32.55 million.
This was followed by the Efficient and Effective Prosecution of Money Laundering and Terrorist Financing Cases worth P55.64 million under the proposed budget but under the NEP this only amounts to P22.02 million or a decrease of P33.62 million.
The list also includes the provision of administrative services to support the operations of AMLC worth P52.497 million; the maintenance of ICT equipment and software, P40.06 million; and Interagency Collaboration and Domestic and
on their duties.
Indeed, even as Shapiro offered prayers for Kirk’s widow and children, the Democratic governor said he is undeterred in his duties as a leading figure in his national party and his state.
“I’m not slowing down,” he said.
On that, he and President Donald Trump appear to agree.
The Republican president was asked during a Friday appearance on Fox News if he would cancel any public appearances of his own.
“You have to go forward,” he said. Violent rhetoric surges BELLICOSE rhetoric and even death threats have surged in the days since Kirk was killed.
“The left is the party of murder,” Elon Musk, the tech titan and CEO of the social media platform X, wrote. “If they won’t leave us in peace, then our choice is to fight or die.”
International Commitments with Risk Assessment Activities, P39.385 million.
The AMLC also sought a P15.877 million budget for utilities and regular maintenance and operating expenses and P4.084 million for capacity building which did not have any allocation under the NEP.
Among the vital programs that suffered cuts in the AMLC’s proposed 2026 budget was the maintenance and enhancement of AMLC cybersecurity and database, from a proposed P125.56 million to P93.010 million in the NEP (cut of P32.55 million).
Sustaining a cut as well was the AMLC’s program for efficient and effective prosecution of money laundering and and terrorist financing cases, from a proposed P55.639 million to P22.083 million in the NEP (slashed P33.616 million).
AMLC executive director David explained that they need at least P32.55 million
To that, Fox News host Jesse Waters said during a broadcast, “They are at war with us. Whether we want to accept it or not, they are at war with us. What are we going to do about it?”
On Friday, a right-wing activist posted online a video outside Illinois Gov. J.B. Pritzker’s home, calling on followers to “take action.”
The charged environment prompted a number of public officials, largely Democrats, to postpone public appearances.
Sen. Ruben Gallego, D-Ariz., canceled a Saturday town hall in Las Vegas “out of an abundance of caution for town hall participants, attendees, and members of the media.” Rep. Alexandria Ocasio-Cortez, D-N.Y., also postponed a weekend event in North Carolina due to security concerns.
Former Republican Wisconsin Gov. Scott Walker, president of Young America’s
more for information and communications technology (ICT) software “to assist our investigators in investigating virtual assets that are part of our investigation of money laundering and terrorism.”
“Just to highlight the need to assist agencies particularly the AMLC, the P125.56 million budget for Maintenance of ICT equipment and software is smaller than that of a single flood control program,” Lacson said.
“What will fully capacitate you so we can maximize your efficiency?” he told the AMLC representatives at the hearing.
The rest of the additional requirements of the AMLC such as the restoration of the P32.55 million for the maintenance and enhancement of the AMLC cybersecurity and database; P22.399 million for the maintenance of ICT equipment and software; P33.959 million for interagency collaboration and domestic and
Foundation, which works to attract young people to the GOP, said his group canceled a Thursday night event in California featuring conservative commentator Ben Shapiro out of respect for Kirk and his family.
And while officials in both parties acknowledged that new security precautions would be in place—for the short term, at least—cancelations have been rare.
Maryland Gov. Wes Moore, another potential Democratic presidential prospect who recently announced his 2026 reelection campaign, said he would not change his public schedule because of the increased threat even as political violence will be on his mind.
“It’s never something that completely leaves you, but don’t think it can be something that debilitates you,” Moore told
The Associated Press.
When asked if he expects a retaliatory attack against Democrats, the former Army
international commitments with risk assessment activities, and P33.616 million for the efficient and effective prosecution of money laundering and and terrorist financing cases—are smaller than the commissions and “SOP” demanded by corrupt officials of the Department of Public Works and Highways, as well as some legislator-proponents and others.
captain insisted, “We are not at war with one another.”
“As someone who has seen war, as someone who knows what war looks like, as someone who will live with the realities of war for the rest of my life, refuse to ever believe that we in the country are at war with one another,” he said. “And I refuse to believe that that we as a country are devolving into some just kind of type of retaliatory tit for tat.”
“Resorting to violence is a remarkable sign of weakness,” Moore added. “It means you can’t win a political argument.” And yet political violence is becoming more frequent in the United States.
Associated Press
“My observation is that these amounts are smaller than the commissions and SOPs demanded by corrupt officials in the DPWH as well as some legislator-proponents, among others,” Lacson said. Lacson stressed fighting money laundering and helping keep the Philippines out of the Financial Action Task Force’s grey list. He also cited its role in acting quickly on his request to verify the aliases used by the DPWH’s “BGC Boys” in gambling away taxpayers’ money in casinos. “In fairness to the AMLC, when I submitted the names of persons and aliases they took action immediately,” he said. Cai U. Ordinario, Butch Fernandez
The
writers Sejal Govindarao in Phoenix; Laura Bargfeld in Chicago; Chris Megerian in Washington; and Scott Bauer in Madison, Wisconsin, contributed.
A holistic approach: How Land Bank can leverage Sagip Saka to support farmers
SENATOR Francis “Kiko” Pangilinan’s call to integrate the Sagip Saka Act into Land Bank of the Philippines’ (LBP) credit programs presents a vital opportunity to uplift Filipino farmers from the shackles of debt and poverty. This strategic move leverages the government’s purchasing power to create a stable market for agricultural produce, thereby enhancing farmers’ creditworthiness and access to financial resources. By directly linking government procurement with farmer financing, the LBP can play a pivotal role in transforming the agricultural landscape and fostering sustainable rural development. (Read the BusinessMirror story: “LandBank asked to integrate law into credit schemes for farmers,” September 11, 2025).
For too long, small-scale farmers have struggled to access formal credit due to their perceived inability to repay loans. This has forced many to rely on informal lenders and middlemen, perpetuating a cycle of debt and diminishing their income. The Sagip Saka Act, enacted in 2019, aims to address this issue by allowing national and local governments to directly purchase agricultural products from farmers and fisherfolk without the need for public bidding. However, challenges in its full implementation have hindered its intended impact. Integrating the Sagip Saka Act into LBP’s credit programs offers a practical solution. Senator Pangilinan highlights the potential of government as the biggest purchaser of food, with an estimated P70 billion spent annually. By directing these funds towards direct purchases from farmers, the government can provide them with a reliable income stream, making them more creditworthy in the eyes of financial institutions like LandBank.
The success of the Jollibee Group Foundation’s “Farmer Entrepreneurship Program” (FEP) exemplifies this approach. By directly sourcing onions from local growers, Jollibee provided a stable market that encouraged microfinance institutions to extend credit to these farmers. This access to credit enabled onion growers to invest in cold storage and improve their operations.
Landbank has several programs to support farmers, such as the Agricultural and Fisheries Financing Program (AFFP) and Agrisenso Plus. Agrisenso Plus offers a fixed 4 percent interest rate for small farmers, fishers, and agrarian reform beneficiaries, along with training and capacity-building programs. Integrating Sagip Saka with these initiatives can further enhance their effectiveness.
To ensure the success of this integration, several key challenges must be addressed. Bureaucratic hurdles in implementing the Sagip Saka Act need to be overcome. Senator Pangilinan has emphasized the need to “pound the bureaucracy” to ensure the law’s effective implementation. Clear and actionable guidelines are needed for government agencies and local government units to facilitate direct purchases from farmers.
Furthermore, financial literacy and organizational support are crucial for farmers to manage their finances effectively and leverage the opportunities provided by the Sagip Saka Act. LandBank’s role extends beyond providing credit; it must also capacitate farmers through education programs and cooperative development.
The integration of the Sagip Saka Act into LandBank’s credit programs represents a significant step towards empowering Filipino farmers, enhancing food security, and fostering sustainable rural development. By creating a stable market and improving access to credit, this initiative can break the cycle of debt and poverty, enabling farmers to thrive and contribute to the nation’s prosperity.
Opinion
TJohn Mangun
OUTSIDE THE BOX
O accept without question that China has lifted 700 million people out of poverty is to believe that deep-fried lumpia becomes healthful because it contains a shred of vegetable. There may be a technical truth buried in the claim, but the framing is, in diplomatic terms, “heavily managed.”
The 700 million figure, endlessly repeated by Chinese state media and echoed by institutions like the World Bank, relies entirely on China’s selfdefined poverty line: $2.30 per day, adjusted for purchasing power. That is not a global standard. It is a Beijing political convenience. The World Bank’s benchmark for upper-middleincome countries—which includes China—is $6.85 per day. The Asian Development Bank recommends at least $3.65 for East Asia.
A 2020 study by the Center for Global Development estimated that if China applied the $6.85 standard, between 200 million and 300 million of its citizens would still qualify as
poor. A 2023 Brookings Institution analysis, using a $5.50 threshold, placed the number at 170 million. These are not trivial margins of error. They are deliberate redefinitions of success. L ower the standard, declare victory.
China’s own National Bureau of Statistics acknowledges the disparity: urban incomes are more than twice those in rural areas. In Shanghai, glass towers scrape the sky. In Guizhou, families still squat over pit latrines. This is not an accident of development. It is a feature of governance. The Party’s message is clear: prosperity is our creation. The unspoken addendum: do not ques-
A 2020 study by the Center for Global Development estimated that if China applied the US$6.85 standard, between 200 million and 300 million of its citizens would still qualify as poor. A 2023 Brookings Institution analysis, using a $5.50 threshold, placed the number at 170 million. These are not trivial margins of error. They are deliberate redefinitions of success. Lower the standard, declare victory.
tion how we measure it.
In the Philippines, where 11 percent of families remain below the official poverty line as of 2023, the temptation to admire—or even emulate—China’s apparent efficiency is understandable. But admiration without scrutiny is dangerous. If redefining poverty eradicated poverty, then Manila’s slums would be reclassified as gated communities by executive order. Metrics matter.
Definitions are power.
The second myth insists China is no longer communist. This is either naive or disingenuous. The Chinese Communist Party does not share
power. It monopolizes it. Eight other political parties exist on paper, but each is legally bound to endorse the CCP’s “leading role.” Opposition is not debated. It is prohibited. Political competition exists only in stateapproved “kabuki theater.” If communism means centralized control over economic direction and political authority—then China did not abandon it. It modernized its delivery. The Party does not need to own every factory to control the economy. It owns the banks, the utilities, the telecom networks, the ports, the rails, and the algorithms. It appoints CEOs. It mandates Party committees inside private firms. It halts stock sell-offs by administrative order as the China Securities Regulatory Commission did in early 2024, directing state-backed funds to stabilize markets. That is not market discipline. That is state command wearing a three-piece suit instead of a secret police uniform. Some argue the private sector drives China’s growth. That is true only at the margins. According to Rhodium Group’s January 2024 analysis, among China’s 100 largest listed companies, private firms accounted for 55 percent of total See “Mangun,” A13
The economic, social, and global fallout of this controversy
THE flood control funds problem in the Philippines revolves around systemic corruption and mismanagement of largescale government flood control projects, resulting in the loss of billions of pesos to fake, substandard, or incomplete works over many years.
Investigations have revealed how a few politically connected contractors dominated major contracts through collusion, license renting, and other irregularities, resulting in most allocated funds never reaching genuine flood prevention or climate adaptation efforts.
This ongoing scandal has not only left many vulnerable communities exposed to worsening floods but also triggered a series of damaging impacts.
The diplomatic fallout from the flood control corruption scandal has begun to reshape the Philippines’ international standing, particularly in the realm of development cooperation. Just this month, South Korea suspended a $503 million loan over concerns about project corruption and mismanagement, stirring global attention and causing other donor nations to scrutinize their
partnerships with the Philippines.
While Filipino officials insisted no formal agreement was signed, the incident has sparked doubts about governance and transparency, potentially costing the nation future foreign investment and jeopardizing its reputation as a reliable regional ally.
The redirection or misuse of climate adaptation funds due to corruption has had a direct and severe impact on flood-prone communities. With billions meant for disaster resilience funneled into “ghost” projects and substandard works, environmental groups like Greenpeace have raised public alarm, calling the scandal “an obscene plunder” that makes vulnerable localities more exposed to risky weather events and flooding. The loss of these funds not only undermines climate resilience but
With only a fraction of earmarked funds translating into actual construction, public money has been drained away from disaster response, social programs, and productive investments—slowing economic growth and diminishing the country’s ability to recover from and prevent future calamities.
also erodes urgent efforts to protect livelihoods against the accelerating dangers of extreme weather.
Additionally, for many ordinary Filipino families, the flood control scandal is not just a distant policy issue but a painful lived reality. Communities in Bulacan, Metro Manila, and Central Luzon continue to experience devastating floods, mostly a result of incomplete or non-existent infrastructure. Residents voice stories of lost homes, ruined crops, and shattered trust, demanding accountability and justice as they suffer the consequences of entrenched wrongdoing and broken public promises.
The Philippine government’s use of digital monitoring and big data systems—such as the “Sumbong sa Pangulo” platform—reflects a bid for increased transparency and citizen oversight.
The scandal, however, highlights the limits of these technology tools in preventing large-scale
fraud and project anomalies; while thousands of complaints have been filed, systemic issues of data manipulation and contractor collusion often outpace the capacity for real accountability. This exposes a critical gap between digital transparency initiatives and real enforcement power.
And finally, the economic impact of the flood control corruption scandal is staggering: estimates suggest up to a trillion pesos may have been siphoned off through fake or delayed infrastructure projects over the past 15 years.
With only a fraction of earmarked funds translating into actual construction, public money has been drained away from disaster response, social programs, and productive investments—slowing economic growth and diminishing the country’s ability to recover from and prevent future calamities. True recovery from the flood control funds scandal will demand not just reform but resolute action at all levels of government and society. Accountability must be enforced so that public resources are safeguarded and climate investments genuinely reach those who are most in need.
Only with deep-rooted change and vigilant oversight can the country build flood resilience and prevent future abuses that threaten both the national welfare and the lives of ordinary Filipinos.
RISING SUN
Atty. Jose Ferdinand M. Rojas II
Asia and the Pacific at the crossroads: Time to drive growth through decent work in supply chains
By Kaori Nakamura-Osaka
WHEN we buy a shirt, use a mobile phone, or sip a cup of coffee, how often do we think about the people who made it possible?
In Asia and the Pacific, close to half a billion workers, whether in factories, on farms, at sea, or at home, form the backbone of local, regional and global supply chains. From electronics in Vietnam and garments in Bangladesh to seafood in Thailand and automobiles in India, the region powers much of the world’s production, an economic engine worth trillions of dollars.
Yet this economic strength hides challenges. Too many jobs are informal or precarious, with work outsourced through opaque subcontracting chains beyond effective oversight. Weak national capacity and inadequate enforcement mechanisms deepen these vulnerabilities, leaving space for exploitation, from unsafe and unfair conditions to child and forced labor. At the same time, only a limited number of workers have adequate social protection and persistent gender pay gaps remain across sectors.
These challenges are not inevitable. With the right policies, stronger institutions and empowered workers, supply chains in Asia and the Pacific can be engines for inclusive growth. Strengthening public policy, building the capacity of regulators, employers’ and workers’ organizations as well as ensuring workers’ voices are heard are all essential steps.
When workers are treated fairly, they are more engaged and productive. Evidence demonstrates that promoting decent work reduces risk, enhances business competitiveness and boosts export performance. Decent work is not just the right thing to do, it’s good for business too.
Supply chains in Asia and the Pacific are also deeply linked to micro, small and medium-sized enterprises, the backbone of local economies. Supporting these businesses to formalize jobs, improve skills and adopt technology can unlock better opportunities for millions, especially in lower tiers of production where the most vulnerable workers are found.
Change is certainly underway. We have seen promising initiatives in the region, ethical recruitment practices that protect migrant workers, digital monitoring tools that increase transparency in factories and sector-wide agreements that raise standards across entire industries.
But progress is uneven and the region needs a coordinated, locally grounded approach.
Meanwhile, recent shifts in glob -
market value in 2021. By the end of 2023, that share had collapsed to 36 percent. State-owned enterprises rose to 50 percent. When including firms under state influence through mixed ownership or Party oversight, the total exceeds 64 percent. Direct GDP contribution from State-Owned Enterprise is estimated at 25 to 30 percent. But that misses the point. SOEs control more than 60 percent of fixed asset investment. They receive preferential bank credit. They set prices in strategic sectors. They absorb losses that would bankrupt private competitors. As President Xi Jinping stated plainly: “The dominant role of state ownership cannot be changed.” That is not economic theory. That is policy. For the Philippines, the lesson is not to covet China’s model but to interrogate it. Our institutions are flawed. Our politics are noisy. But we
Equity-based compensation
OThe choices we make today will shape the future of work in our region for generations. We can cling to models that chase the lowest cost at the expense of human dignity, or we can build a path where growth is shared and rights are respected. Now is the time to act, to create a just, sustainable and resilient world of work across Asia and the Pacific.
al trade dynamics create both risk and opportunity. There is a risk of losing momentum, but also an opportunity for Asia and the Pacific to take the lead in shaping a regionally-grounded model for labor governance in supply chains. With much of today’s trade occurring amongst countries of the global South, especially within Asia itself, the region is no longer simply responding to rules set elsewhere. The region can and should forge its own path as a trusted destination for resilient and equitable sourcing that drives decent work, value addition and sustainable growth across supply chains whether they are local, regional or global.
This requires aligning trade, investment, governance, and responsible business conduct policies to reinforce decent work while boosting social protection coverage, addressing gender pay disparities, reducing informality, and investing in workplace safety.
That is why the International Labor Organization is convening governments, employers, workers’ organizations, and other subject matter experts in Bangkok on September 15-16 for the regional policy forum Resilient Supply Chains and Equitable Growth in a Changing World of Work. This is not just another meeting. It is a launchpad for action, a space to move beyond talk and to forge coordinated strategies that can reshape the way supply chains operate in Asia and the Pacific.
The choices we make today will shape the future of work in our region for generations. We can cling to models that chase the lowest cost at the expense of human dignity, or we can build a path where growth is shared and rights are respected.
Now is the time to act, to create a just, sustainable and resilient world of work across Asia and the Pacific.
Kaori Nakamura-Osaka is the ILO Assistant Director-General and Regional Director for Asia and the Pacific.
retain something China does not: the right to question, to protest, to vote out failure. Economic growth does not require authoritarianism. Poverty reduction is not meaningful if the line is drawn to flatter the ruler. China’s system delivers results —for the Party. Stability—for the state. Growth—on its own terms. But “economic miracles” should not come with disclaimers and footnotes. Genuine progress does not vanish under different metrics.
So when the next headline declares China’s latest triumph, pause. Ask: Who defined the terms? Who benefits from the definition? And what disappears when you change the lens? Because whether it is street food or national statistics— the ingredients matter more than the packaging. What is being sold as nourishment is often just deep-fried illusion.
Fulvio D. Dawilan
TAX LAW FOR BUSINESS
THER than the reforms introduced by Republic Act 12214 (Capital Markets Efficiency Promotion Act or CEMEPA) on the taxation of capital markets and related products, included in the law are other changes that have nothing to do with the taxation of the capital markets. One of these is the inclusion of the equity-based compensation (such as stock options, restricted stock units, and stock appreciation rights) as among those considered as “compensation for services” constituting gross income under Section 32 of the Tax Code. This addition also clarified that equity-based compensation shall be included in the gross income at the time of exercise.
Is this a new rule that should be given fresh consideration? It appears to be new, but it’s actually not. While this is a new insertion in the provision of the Tax Code, the taxation of equity-based compensation is not a new concept. In the past, however, because of the absence of a specific provision in the Tax Code, the rules were dictated by the revenue issuances promulgated by the tax authorities. But these issuances had not been consistent. These inconsistences in the rules had also led to confusion and uncertainty in the implementation and compliance. Equity-based compensation had always been treated for tax purposes as part of compensation of the employees, and therefore included in the compensation income subject to the usual withholding tax. But others considered this benefit as fringe benefit subject to both the fringe benefits tax and to the tax on compensation—depending on the
Russia targets
ENIS SHTENGELOV built
Dhis company from the streets of his Siberian hometown more than 30 years ago into a global confectionery empire with billions of dollars in revenues.
Now the tycoon, worth at least $2.6 billion according to the Bloomberg Billionaires Index, is at risk of losing a big part of his fortune.
Russian prosecutors are targeting his KDV Group, one of the country’s largest snack producers, for expropriation. They argue companies tied to the entrepreneur, who now appears to live in Australia, supplied Ukrainian forces with food, according to an Interfax report. They also claim his father, Nikolai, established a paramilitary unit in the enemy’s territory and that KDV sent income from its Russian operations to so-called unfriendly jurisdictions without regulatory approval.
The case is the latest indication of how asset seizures are surging in Russia since the invasion of Ukraine, as the country cracks down on those it sees as enemies of the state. The total value of confiscated property since 2022 reached 3.9 trillion rubles ($46.8 billion) as of June, according to estimates from Nektorov, Saveliev
status of the employee who avails of the benefit.
This difference in the tax treatment of equity-based compensation was a result of confusions brought by the revenue issuances themselves. While these are supposed to be part of the compensation package of employees and should be taxed as such, there were rulings and even revenue memorandum circulars issued by the tax authorities where the tax treatment of stock options and other option plans deviated from this rule. Based on these issuances, the taxability of equity-based compensation would depend on the position of the employee—whether or not the employee occupies a managerial or supervisory position. Benefits derived by supervisory and managerial employees from equity-based compensation were considered fringe benefits subject to the fringe benefits tax. However, benefits derived by rank-and-file employees from the
same type of compensation package were treated as compensation. In effect, taxes on the equity-based compensation of supervisory and managerial employees were shouldered by the employer while the same type of benefit derived by rank-and-file employees were borne by the employees themselves.
The rules were again modified with the issuance of Revenue Regulations No. 13-2022 (RR 13-22) in 2022. As so provided in this regulation, the equity grants to be awarded to the employees are for the services being rendered by the said employees. Consequently, the equity grants under the equity plans, once exercised or availed of by the granteeemployee, is considered compensation to be taxed as such under Section 32 of the Tax Code. And this rule is applied regardless of the employment status of the granteeemployee who could be rank-andfile or occupying a supervisory or managerial position. The reason is that Section 32 of the 1997 Tax Code does not make a distinction for purposes of applying the tax implication on all forms of compensation, including equity-based compensation. And perhaps realizing the erroneous interpretations in the past, this RR also made it clear that it was revoking or repealing previously issued inconsistent regulations, rulings, orders or circulars.
Clarifying this further under RMC 143-2022, the circular specifically declared that the difference between the book value or the fair market value of the shares, whichever is higher, at the time of the exercise of the equity-based compensation, and the price fixed on the grant date, shall be considered as additional compensation subject to income tax and to
withholding tax on compensation. But even with those clarifications on the taxation of equity-based compensation, the rule remained uncertain. Thanks to the passage of CMEPA, this uncertainty no longer exists. By specifically including equity-based compensation in Section 32 of the Tax Code, CMEPA made the tax treatment of equity-based compensation permanent. Any implementing rule should be consistent with this tax treatment. And such rule could not be simply changed by a revenue issuance.
As to when the tax accrues, the law had also made it clear that the income should be included in gross income at the time of exercise. For some types of equity-based compensation, they undergo a number of stages before the benefit is realized by the employee. Regardless of these various stages, it is only the exercise that triggers the accrual of tax. For as long as the equity—equity issued by the employer or other entity —is granted as part of the payment for the services rendered under and employer-employee relationship, the same should form part of the compensation and taxed as such. The same should be taxed when the employee realizes the benefit—at the time of the exercise.
The author is a managing partner of Du-Baladad and Associates Law Offices (BDB Law) (www. bdblaw.com.ph).
The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal, or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported, therefore, by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at fulvio.dawilan@ bdblaw.com.ph or call 8403-2001 loc 310.
billionaire’s empire over alleged Ukraine links
& Partners, a law firm in Moscow.
The claims against KDV couldn’t be independently verified, while the text of the prosecutor’s lawsuit isn’t available for public viewing. The firm’s press office didn’t reply to multiple calls and emailed requests for comment.
This summer a Moscow court also ordered the nationalization of the Russian developer behind the game World of Tanks after its co-founders were designated as extremists—a similar charge to that facing KDV— over one of the former partners’ fundraising projects for Ukraine.
“We can expect an increase in the number of big enterprises seizures where extremism will be only a formal basis for appropriation,” said Kirill Gorlov, legal counsel of Transparency International Russia.
Moscow Court
ON September 23, a Moscow court will review the KDV case to see if Russia can proceed with transferring Shtengelov’s business to the state. Meanwhile, the court banned any transactions related to property and shares of more than 50 companies that are part of KDV, Tass reported.
KDV said in a post on its website
earlier this month that “our team sincerely hopes for a fair and balanced resolution to the current situation” as “the company conscientiously fulfilled its obligations to the state, paid taxes, and invested in Russia, creating jobs, supporting regions, and numerous charitable projects.”
While the state has rarely invoked extremism as a legal basis, it has already appropriated assets worth 200 billion rubles under those grounds. That figure would more than triple if it does take over KDV, whose market value is put by prosecutors at 500 billion rubles.
The tycoon began his business career in the 1990s after graduating from university in Siberia. In those turbulent years as Russia moved to a market economy after the collapse of the Soviet Union, his early ventures included supplying sunflower seeds to elderly women in his hometown of Tomsk, who roasted and sold the popular snack known as semechki. He also pressed seeds into oil, which he bartered to cash-strapped confectioners for candy.
Shtengelov made a point of controlling businesses across the supply chain, from milk farms to factories producing chocolates, choux pastry
and cookies. Today, KDV employs more than 39,000 people at 14 factories and is Russia’s fourth biggest producer of food and beverages, according to researcher INFOLine. It makes hundreds of items from crisps and snacks to baby food and posted revenue of 305 billion rubles in 2024, according to Spark-Interfax database. In 2021, KDV bought the USbased Liberty Orchards Co., a maker of Aplets & Cotlets candies, and Dutch vegetable products supplier Hak. He also owns a stake in Zvecevo confectionery in Croatia, Forbes reported.
State attention
THIS isn’t the first time that Shtengelov has attracted the attention of the Russian state. In 2018, a deadly fire killed more than 60 people in a Siberian mall he co-owned. Shtengelov wasn’t involved in the operational management of the mall, but paid 3 million rubles to relatives of each victim, he said in a rare interview at the time. He also said that he shares his time between Russia and Australia where he has a sport venue on the Gold Coast. With assistance from Olesia Safronova and Julius Domoney / Bloomberg
China’s economy suffers another setback as investment slumps
CHINA’S economic activity slowed more than expected across the board in August with a sharp slump in investment, adding to the likelihood that policymakers will roll out more stimulus to ensure growth stays on track to hit the official target.
Industrial output and consumption had their worst month yet this year after a sharp slowdown in July.
Production at Chinese factories and mines expanded 5.2 percent last month from a year earlier, according to data released by the National Bureau of Statistics on Monday, the smallest gain since August 2024.
Retail sales grew 3.4 percent on year in August, slower than an expectation for an increase of 3.8 percent and down from 3.7 percent in the previous month. Expansion in fixed-asset investment in the first
eight months of the year decelerated sharply to 0.5 percent, the worst reading for the period since 2020.
The yield on China’s 30-year government bonds fell two basis points to 2.16 percent, probably on bets the central bank may need to ease monetary policy as growth slows. Chinese equities largely held on to their earlier gains, with the onshore benchmark CSI 300 Index trading up 0.7 percent.
The data “confirms a sharp slowdown in the second half of 2025, especially on the investment side,” said Carlos Casanova, senior Asia economist at Union Bancaire Privee in Hong Kong.
With a boom in exports cooling off, many analysts and investors expect a downshift in China’s economy during the final months of 2025 after it clocked growth of 5.3 percent in the first half. The extent of the decelera-
tion in China, set to be the top contributor to global growth over the next five years, will matter to a vulnerable world economy that’s slowing under pressure from Donald Trump’s tariffs.
China’s investment in August contracted sharply in a number of industries, such as the manufacturing of pharmaceuticals, machinery and raw chemicals, as well as in education and health care. The surveyed urban unemployment rate deteriorated to 5.3 percent.
The economy’s surprisingly upbeat performance in the first half of the year has left China’s leadership confident of reaching the official growth target of around 5 percent even in case of a relatively pronounced slowdown later in the year. So far, policymakers have shown little sign of preparing major new stimulus as exports prove
resilient during Trump’s second trade war. China needs to “focus on stabilizing employment, enterprises, markets and expectations,” the NBS said in the statement. “There are still plenty of instability and uncertainties with the external environment, and the economy still faces many risks and challenges.” Yet new challenges are emerging, as evidenced by a series of disappointing data readings in recent weeks. A broad measure of credit slowed last month for the first time this year, while export growth fell short of forecasts and dropped to 4.4 percent in August. The labor market also likely weakened in recent months, based on purchasing managers’ index surveys and private polls. With assistance from James
Tuesday, September 16, 2025
BusinessMirror
Brownout in Boracay: 3-day outage hits beach paradise
By Lenie Lectura and Ma. Stella F. Arnaldo
THEDepartment of Energy (DOE) announced Monday the full restoration of power in Boracay, two days after a transmission line tripped—a nightmare for a fabled tourist destination hailed for having some of the world’s best beaches.
“As of 2:55pm today, electricity has been restored to Boracay Island and nearby towns, following overnight safety precautions that briefly paused restoration work due to high tide. The temporary halt was essential to protect frontline crews operating in challenging conditions,” the agency said.
The outage began last September 13 when the Nabas–Unidos 69 kilovolt (kV) line tripped, cutting supply to the Unidos–Caticlan–Malay and Unidos–Boracay lines and isolating Boracay, Malay, and Buruanga from the grid.
mission line project, which the Energy Regulatory Commission (ERC) ordered for completion this year.
Together with planned upgrades, these works will strengthen Boracay’s power infrastructure and support the island’s growing demand as a premier tourism and economic hub.
Ranked among best beaches
the Philippine Chamber of Commerce and Industry-Boracay told the BusinessMirror, “It’s unacceptable. This should not be happening to Boracay. We didn’t have power for 49 hours this time, from Sept 13 to 15. On May 4-5, it was 18 hours. In March, it was 12 hours, not including the scheduled monthly eight-hour hour brownouts.”
P5-B SMUGGLED FARM ITEMS IN 2 YRS, BUT WHO’S IN JAIL?
By Ada Pelonia @adapelonia
MORE than P5 billion worth of smuggled farm products have been seized over the past two years, a lawmaker said Monday.
Senator Francis “Kiko” Pangilinan said seized agricultural goods reached over P5.8 billion from July 2022 to November 2024. Around 250 cases were filed between 2018 and 2024, valued at P8.59 billion, he added.
recent cases, such as smuggled farm products like rice, onions, and seafood.
This includes 22,000 bags of rice worth P38.9 million seized due to lack of license or permit and P10 million smuggled onions and meat, both of which were in Paco, Manila. Furthermore, 370 master cases of smuggled black hawk cigarettes worth P15.7 million in Basilan and 57 containers of frozen mackerel, onions, and carrots in Subic valued at P71.9 million will also be included.
Permanent repairs on the underground cables are under way to harden the system and ensure reliability, the agency added.
“Safety guided every call we made, including last night’s brief pause during high tide. Power is restored, and our teams remain on site to stabilize the system and complete permanent repairs,” said DOE Secretary Sharon S. Garin. In parallel, NGCP is advancing the Nabas–Caticlan–Boracay trans-
The National Grid Corporation of the Philippines (NGCP) and Aklan Electric Cooperative (Akelco) immediately deployed patrols and repair teams, who traced the fault to damaged underground cables near the Caticlan Airport arrival area.
STAKEHOLDERS on Boracay Island are appealing to the national government to permanently solve the power issues on the island, after suffering another outage from September 13 to 15.
In an interview over Gising Pilipinas on Monday morning, Energy chief Garin said: “[It’s] very tragic. Their underground cable was destroyed. They were able to dig it up, and they already saw what was the damage. They were working yesterday [Sunday] to restore the power even if temporarily.”
“High tide,” however, hampered the restoration operations and power was not restored at midnight as the DOE had promised, she added. The power eventually came back on between 2:30 pm and 3 pm on Monday, according to stakeholders.
Djila Winebrenner, president
of
She said she appreciated that the “national got involved this time,” with the Departments of Tourism (DOT) and Energy (DOE), the National Electrification Administration, etc., were able to get Akelco (Aklan Electric Cooperative) and NGCP (National Grid Corp. of the Philippines) to coordinate, but one or both of them need to be accountable to improve the existing infrastructure. This should not happen again.
Winebrenner, who also owns the popular Lazy Dog Bed and Breakfast, added that restaurants which did not have any generators had to close for business and estimated their opportunity losses at “probably a few hundred thousand pesos a day.”
She lamented that during this weekend’s outage, ATMs were also not working, as well as the island’s
“Despite this, prosecutions were rare. Only four were convicted, and only 5 percent of the 192 cases were resolved, often due to lack of evidence or dismissed due to lack of evidence,” Pangilinan said during the hearing on Agriculture, Food, and Agrarian Reform on Monday.
He lamented that despite the mere P10-million amount to flag a case as a non-bailable offense under the Anti-Agricultural Economic Sabotage Act, no smuggler has been imprisoned yet.
“At the last hearing, a simple question was asked: Why are there no smugglers or members of the smuggling syndicate in jail?”
With this, Pangilinan said the government will focus on
“When will those behind the billions of pesos worth of seized items be imprisoned? We’ve already seized them. There were names,” Pangilinan said.
“We have already confiscated trillions of pesos worth of smuggled goods without licenses, and we haven’t arrested anyone yet. Mahiya naman tayong lahat.” Earlier, Agriculture Secretary Francisco Tiu Laurel Jr. said the agency has so far blacklisted 20 importers, 13 of whom were operating without licenses.
“The law is a step in the right direction, but without enforcement powers, our hands are tied. We cannot fully protect our farmers and fisherfolk,” he said.
By Andrea E. San Juan
THE six-member Leaders Forum (LF) said the newly formed independent fact-finding body must be granted full authority to expose wrongdoing and push systemic reforms as the groups condemned all forms of corruption, especially the misuse of public funds for flood control. In a statement issued on Monday, the six business groups underscored: “We recognize the issuance of the EO granting the creation of an independent, nonpartisan investigative body composed of credible individuals from civil society, the legal profession, auditing institutions and anti-corruption bodies.”
“This body must be granted full authority to expose wrongdoing, recommend prosecution, and push systemic reforms. It must ferret out the truth without fear or favor,” the Leaders Forum stressed.
President Ferdinand R. Marcos Jr. earlier issued Executive Order 94, creating the Independent Commission for Infrastructure [ICI], a fact-finding body which he tasked to conduct a probe and recommend the filing of charges related to anomalous flood-control projects and other public works within the last 10 years.
The Leaders Forum is a “national bipartite dialogue mechanism” composed of major employer and business organizations. These are the Employers Confederation of the Philippines (ECOP), Philippine Chamber of Commerce and Industry (PCCI), Philippine Exporters
Confederation, Inc. (Philexport), and the largest trade unions—Federation of Free Workers (FFW), Trade Union Congress Party (TUCP), and Sentro ng mga Nagkakaisa at Progresibong Manggagawa.
The six organizations expressed “outrage” in their joint statement, pointing out that the resources meant to protect communities from deadly floods may have been stolen or misused.
“This is not just theft, it is a betrayal of public trust, a threat to lives, and a direct assault on the nation’s development,” the groups underscored.
The business groups and trade unions said every peso lost to corruption is a peso taken from the Filipino people, from families in danger, from “crumbling” infrastructure, and from “vital” public services.
“This must stop. We demand accountability for all those involved, politicians and legislators in Congress, contractors, and public officials in the Executive Department, primarily in the Department of Public Works and Highways [DPWH], the local government units [LGUs], and the Commission on Audit [COA],” the groups clamored. They further emphasized that justice must be served, swiftly and without political interference.
“The Leader’s Forum shall continue to press for truth, uphold public interest, and ensure that justice is served. Corruption has no place in our institutions. The people deserve justice. The people deserve better,” they said in their statement.
DA cuts palay production forecast to 20.3 MMT
By Ada Pelonia
THE Department of Agriculture (DA) revised downward its palay production forecast this year to 20.3 million metric tons (MMT).
hearing at the House Committee on Appropriations on Monday.
“We revised our target from what we can see until the end of this year. We slightly lowered it to 20.3 MMT,” Laurel said. The latest figure is lower than the agency’s initial projection of 20.45 MMT. However, this is around 300,000 metric tons (MT) more than the record 20.06 MMT output in 2023.
The country’s
Editor: Jennifer A. Ng
September 16, 2025
PHL bags new investment pledges from Japan firms
By Andrea E. San Juan @andreasanjuan
THE Philippines has secured P51 billion in investments from Japanese conglomerates in consumer services, property development, leisure and entertainment, and clean energy, according to the Department of Trade and Industry (DTI).
The DTI said one of the deals secured by the Philippines came from Koshidaka Holdings Co., Ltd., operator of the world’s largest karaoke chain, which will invest P34 billion to open 300 outlets nationwide over the next decade.
“The Japanese karaoke chain is seen to provide over 1,500 direct jobs and support thousands more through construction and supplychain activities,” the agency said in a statement.
Meanwhile, Marubeni Corp. committed P15 billion for real estate, fintech, healthcare, and afforestation projects, while Sojitz Corp. confirmed an investment of as much as P3 billion in a property developer to attract AI, semiconductor design, software, and healthcare firms, as well as expressing interest in aviation-related projects. Mitsui & Co. also reaffirmed its partnership with Metro Pacific Investments Corp. and SteelAsia
Manufacturing Corp. for a steel recycling initiative that supports circular economy and decarbonization goals.
Trade and Industry Secretary Cristina A. Roque made the announcement that the country was able to seal these deals during the Philippine Economic Briefing (PEB) in Osaka.
Roque said the investment commitments were finalized through a series of high-level meetings in Tokyo organized by DTI’s team in Japan under Special Trade Representative Dita Angara-Mathay.
The Philippines’s Trade chief also noted that the discussions enabled the country’s economic managers—led by Finance Secretary Ralph Recto and joined by Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio Balisacan, Energy Secretary Sharon Garin, and Bangko Sentral ng Pilipinas (BSP) Deputy Governor Zeno Abenoja—to “jointly review the projects, align government support and ensure an enabling environment
for smooth rollout and expansion.”
“These commitments in green energy, smart housing, healthcare, and creative services highlight the strength of our partnership with Japan. DTI and the Economic Team will work together to ensure these projects generate quality jobs, strengthen supply chains, and advance the country’s shift to a green, digital, and broad-based economy.”
She added that these investments are “a testament to President Ferdinand R. Marcos Jr.’s vision for an agile, innovation-driven economy that welcomes partnerships and delivers inclusive growth.”
Angara-Mathay underscored that the presence of the full Philippine delegation sent a “powerful signal” to investors.
“Their collective participation assured investors of high-level government commitment and seamless coordination—giving confidence that these projects will be fast-tracked from commitment to execution.”
CREC plant in Batangas goes live
By Lenie Lectura
@llectura
& Samuel P. Medenilla
C@sam_medenilla
ITICORE Renewable Energy
Corp. (CREC) energized on Monday its 197-megawatt peak (MWp) Citicore Solar Batangas 1 and 320-megawatt hour (MWh) battery energy storage system (BESS), bringing it a step closer to hitting its 1-gigawatt (GW) renewable energy (RE) capacity goal by yearend.
President Ferdinand Marcos led the switch-on ceremony of the Citicore Solar Batangas 1, which is expected to benefit an estimated 158,300 households. The ceremony was also attended by Department of Energy (DOE) Secretary Sharon Garin, CREC Chairman Edgar Saavedra, and CREC President and CEO Oliver Tan.
“Our Citicore Solar Batangas 1 is the first in the Philippines to prove that solar can be true baseload power. This is a huge step forward in the country’s renewable energy transition,” said Tan.
The BESS would allow the solar facility to store and dispatch
BYD Co. faces pressure to restore investor confidence after a $45-billion stock selloff, with growing concerns over its ability to fend off competition amid a destructive price war in China. The Chinese electric-vehicle maker’s Hong Kong-listed shares have tumbled more than 30 percent from the all-time high reached just four months ago, underperforming peers. Analyst sell ratings on BYD have surged to the highest level since 2022, Bloomberg-compiled data show.
Investors are losing patience with BYD’s strategy of taking the lead on deep discounts, while the government is clamping down on the socalled involution wreaking havoc on the industry. At the same time, rivals including Geely Automobile Holdings Ltd. and Zhejiang Leapmotor Technology Co. are gaining ground.
needed energy beyond the normal hours of solar (10AM-2PM), gaining the ability to provide a baseload level of power.
Baseload is defined as the minimum load that is always available on the grid 24 by 7. The company has placed the total project cost at approximately P10 billion.
“As a former governor, I was one of those who believed in the promise of renewable energy. At the same time, I also saw how some clean energy technologies had begun to compete with agriculture for limited land, which threatened global food security,” Marcos said.
“Today, we just witnessed the energization of the first hybrid agrosolar and battery storage system in the country that will bring hope for a safer and cleaner future, while at the same time helping secure our food supply.”
Other power projects completing CREC’s 1GW target are 11 facilities located in Pangasinan, Pampanga, Batangas, Quezon, and Negros Occidental. Three of the facilities in Batangas will also be host to BESS totaling 760MWh, including the 320MWh.
The said projects are on track for
energization by the end of 2025, reducing close to 2.8 billion tons of carbon emissions and generating enough electricity to power approximately 800,000 homes yearly once all sites are energized.
Nine of the 11 projects have secured a 20-year offtake with the Philippine government through the Green Energy Auction Program (GEAP)-2. All 11 projects are also Certified as Energy Projects of National Significance (CEPNS) by the DOE, while 10 projects have Green Lane Certifications from the Bureau of Investments (BOI).
With its first gigawatt for completion by the end of the year, CREC targets to start the construction of the 2ndGW of RE, including solar, IRES (Integrated renewable energy and energy storage system) and onshore wind. To date, CREC has energized 587MW of renewables.
“Soon, our country will no longer have to rely on unclean energy and the uncertainties of fuel importation. Instead, we will be powered by homegrown, reliable, and pure RE—bringing us closer to our vision of Powering a First-World Philippines with Pure RE,” Tan added.
“While I
and margins.”
CREC said it also sees the local government and its host communities as valuable partners from construction to plant operations. Through the Citicore Foundation, CREC is able to implement projects that promote education, capacity development, and environmental stewardship.
Particularly, Citicore’s pioneering AgroSolar Initiative will be initiated in all CREC’s completed projects. The program, started in 2021, makes dual use of solar land for agricultural crop production and solar generation. Farmers from the local community are employed by Citicore for their knowledge and expertise on local soil conditions, while the company will shoulder planning and expenses related to seeds and equipment, and securing offtake for the crops.
“We always value our strong partnership with government—a collaboration we’ve consistently demonstrated from Megawide to Citicore. With our experience and expertise in engineering, construction, and innovation, we are poised to complete our projects on time, with quality, and at a lower cost,” said Saavedra.
The company reported a 30% plunge in its June-quarter profit, its first decline in more than three years on the price war impact. China’s top EV maker, BYD has been a major driver of the multiple rounds of discounts over the past few years as makers fight for market share.
Meanwhile, Beijing has become increasingly vocal in its efforts to rein in excessive competition it sees as creating deflationary pressure and damaging the international reputation of Chinese manufacturing.
BYD now expects to deliver 4.6 million vehicles this year, a steep drop from its earlier target of 5.5 million. To meet even this lowered goal, the company must deliver some 1.7 million units in the last four months—that’s a tall order given its aging product lineup and the new regulatory environment. Bloomberg News
By Jonathan L. Mayuga @jonlmayuga
MANILA Water said it has updated its sustainability policy effective August 1, outlining the company’s proactive stance in safeguarding natural resources, promoting transparency, and strengthening partnerships with local government units (LGUs) and communities.
The company said its updated sustainability policy strengthens its commitments to environmental stewardship. It added that the updated policy sharpens Manila Water’s focus on reducing water pollution, improving water-use efficiency, and expanding access to Water, Sanitation, and Hygiene (WASH) services. It introduces initiatives that encourage responsible water use among customers, while reinforcing the company’s commitment to delivering clean water and sanitation services reliably and sustainably.
These efforts are supported by resource efficiency measures, watershed protection, and expanded wastewater treatment—contributing to long-term water security and environmental health across its service areas.
“This policy reaffirms Manila Water’s commitment to sustainability by aligning our actions with the United Nations Sustainable Development Goals, particularly SDG 6 on Clean Water and Sanitation.
As momentum builds around global efforts to achieve the SDGs,
VIETNAM’S largest carmaker VinFast Auto Ltd. has secured a $150 million loan from Barclays Plc, as it advances expansion efforts to compete in the global electric vehicle market. Work on the three-year loan, obtained by the firm’s Singapore unit VinFast Auto Pte., is nearly complete, according to a spokesperson. The loan will be used to support the company’s working capital needs, the spokesperson said.
we join the call for urgent and collective action—demonstrating our deepened commitment to responsible governance and environmental protection in pursuit of a more sustainable future,” Manila Water Sustainability Director Sarah Bergado said in a statement.
The updated policy is anchored on three pillars: helping communities thrive, protecting the environment, and building a culture of trust and care.
Under the first pillar, Manila Water commits to delivering clean and potable water, sanitation, and sewerage services at reasonable rates, while promoting public health through improved WASH services. The company also supports community development through education, livelihood programs, and infrastructure that contribute to local economic resilience.
The second pillar focuses on environmental protection through resource conservation, watershed management, and pollution reduction. Manila Water aims to reduce freshwater withdrawal and energy consumption, expand wastewater service coverage, and address climate change and biodiversity loss through adaptation and mitigation strategies.
“The third pillar emphasizes corporate integrity and stakeholder engagement. Manila Water upholds high standards of governance, respects employee rights, and fosters inclusive growth by aligning with socially and environmentally responsible practices across its supply chain.”
Despite stiff Chinese competition and other challenges in the EV market, VinFast Auto—part of Vietnamese conglomerate Vingroup JSC—has been actively tapping the loan market while increasingly looking to grow abroad. The company rolled out its first electric vehicles in India this month, entering the world’s third-largest auto market to take on competition from Tesla Inc., Tata Motors Ltd. and others. VinFast also will soon announce a $200 million loan from Indian state-owned banks, chairwoman Le Thi Thu Thuy said last week, an effort that Bloomberg News reported in May. It also borrowed $510 million in a private credit loan in July and secured a 1.84 trillion rupiah ($112 million) syndicated facility in April for a factory project in Indonesia. As part of its global push, the company is prioritizing Asia over North America and Europe, founder Pham Nhat Vuong told shareholders earlier this year. Alongside its new model launch in India, the company opened its first overseas factory last month in the state of Tamil Nadu, with an initial production capacity of 50,000 vehicles a year. It expects to open an Indonesia plant by October. Bloomberg News
THE backwash water recovery project at the Cardona Treatment Plant of Manila Water. PHOTO FROM WWW.MANILAWATER.COM
Banking&Finance
Pag-IBIG eyes building homes amid supply gap
By Reine Juvierre Alberto @reine_alberto
THE State-run Home Development Mutual Fund, commonly known as Pag-IBIG, plans to go into the construction business as supply gaps persist, according to one of its officials.
On the sidelines of a news briefing last week, Pag-IBIG Vice President Domingo C. Jacinto Jr. told reporters that Pag-IBIG is studying the possibility of venturing into housing development.
Jacinto, the vice-president for the state-firm’s public and member relations and strategic marketing groups said the move is being considered due to the slow growth in socialized housing inventory over
ATM fees and charges
USING an ATM feels so ordinary that you may not think twice about the charges involved. A small fee here and a hidden deduction there may not seem important at first. As time goes by, they can quietly take away a good portion of your money. At first, it looks convenient but it comes with a price that keeps growing without you noticing.
One of the most common charges is the fee when withdrawing cash from a machine that does not belong to your bank. The amount may look small, maybe ten or fifteen pesos at first. Some banks charge even higher. The sad part is how often you withdraw. For example, if you take out cash three times a week from a different bank’s machine, that could already amount to significant amount of pesos gone in just one week. Multiply that by four weeks and the monthly cost is the same as a simple meal or a day’s worth of fare.
Balance inquiry is another charge that surprises many. Some machines deduct a fee when they simply want to check how much money is left in their account. If they do this often, the deductions pile up. The sad part is that this is not even money they spent, but money lost just to see their own account. Some banks allow free inquiries through their own ATMs or online apps, but when people are in a hurry or the nearest option is another bank’s machine, it becomes an easy trap.
There are also charges hidden in plain sight. Some banks automatically deduct for maintaining a low balance. Others cut a portion when a transaction fails. Imagine inserting your card, entering your details, and then the machine does not give out the cash. Yet your account still gets a deduction, even if it is reversed later. The waiting time before the money is returned can already cause stress, especially when you need it right away.
Withdrawals done abroad also entail cost. ATM fees may go exorbitant if someone is traveling and withdrawing cash from abroad due to administrative and conversion charges. This necessitates planned large withdrawals instead of small frequent ones.
The habit of withdrawing small amounts more often is another reason charges add up. Many people feel it is safer to carry less cash, which is true. But if each small withdrawal costs a fee, then several trips to the ATM in one week means repeated deductions. By
By VG Cabuag @villygc
the end of the month, this could equal the price of groceries or utilities. The convenience comes with a hidden cost that is easy to overlook. On top of these, there are maintenance fees tied to certain accounts.
Some require a minimum balance, and if you fall short, a deduction is made. Others impose dormancy fees if an account is left unused for a long period.
The effect of all these charges becomes clearer when added together.
A person who pays twenty pesos per withdrawal, does it a couple of times a month, pays another ten pesos for two balance inquiries, and then loses fifty pesos in a maintenance fee could already be down over a hundred pesos. That is only for one month. In a year, that same pattern means more than a thousand pesos gone. And this does not include yet possible failed transactions or international fees.
What makes this more challenging is that most people treat ATM fees as too small to matter. Because they are only a few pesos each time, they do not get noticed in the moment. But money management is about looking at the bigger picture. Small leaks in a container eventually empty it out. In the same way, small fees can silently weaken savings and budgets.
There are ways to reduce the impact. First is to plan the amount of withdrawals so that only fewer trips will be made to ATMs which belong to another bank.
Second, it is much better to use your own bank’s ATM to avoid interbank fees. Third, take advantage of online bank applications to check balances or pay the merchants/billers directly.
Another fee to avoid is the penalty if the account balance falls below the required minimum. Always keep in mind that every time you transact, your bank balance should not go below the minimum requirement to avoid penalties. ATM fees and bank charges may seem minor, but together they form a steady drain on your funds. By being informed of these fees, you may be able to save money that could be diverted to savings, child’s educational needs, and other necessities.
Clyde Gamolo is a Registered Financial Planner of RFP Philippines. To learn more about personal financial planning, attend the 113th RFP program this September 2025. E-mail info@rfp.ph or visit rfp.ph to learn more about the program.
the past three years.
“But if the inventory of socialized housing units is still lacking, that’s when we will explore; we will initiate development,” he told reporters.
“For now, with the commitments secured by Secretary [Jose Ramon P.] Aliling from the private sector, it’s something that we are focusing on,” Jacinto noted.
Aliling, Secretary of the Department of Human Settlements and Urban Development (DHSUD), has said that a total of 42 developers had pledged to construct more than 250,000 houses under the “Pambansang Pabahay para sa Pilipino” (4PH) program. (See: https://businessmirror.com.ph/2025/07/15/private-developers-hail-simple-pro-
By Mary Jade Gale Jadormio Intern
THE Philippine Amusement and Gaming Corp. (Pagcor) re-
cently announced the implementation of “a three-pointed education framework” to counter the risks posed by illegal online gambling. The framework is designed to address social concerns connected to illegal online gambling and is also focused on player education and operator training, Pagcor Vice President for Human Resource Development
DEMAND for short-term debt papers remained strong on Monday, with bids reaching six times the P25 billion offer, as investors turned to Treasury bills (T-bills) to secure returns amid declining yields.
Total tenders for the three-tenor Tbills reached P154.154 billion, or 6.1 times oversubscribed the P25 billion offering.
The Bureau of the Treasury’s (BTr) auction committee took advantage of the cheaper borrowing costs, awarding the full P25 billion to investors to meet its financing requirement.
Michael L. Ricafort, chief economist at the Rizal Commercial Banking Corp. (RCBC), said the decline in T-bill yields indicates expectations of further rate cuts from the Bangko Sentral ng Pilipinas (BSP), which has led to investors locking in yields before they drop further in the coming months.
T-bill yields have been falling for the 11th consecutive week.
The average annual rate for the 91-day T-bills settled at 4.950 percent, a decrease of 9.6 basis points from the previous rate of 5.046 percent. Rates ranged from a low of 4.908 percent to a high of 5 percent.
The security was awarded the full P8.5 billion, with tenders amounting to P47.860 billion.
The 182-day government IOUs, meanwhile, were awarded the full P8.5 billion, with bids reaching P53.920 billion.
Rates for the 182-day T-bills averaged 5.148 percent, lower by 7.4 basis points from last week’s 5.222 percent. The T-bills had rates ranging from 5.110 percent to 5.175 percent.
The 364-day debt papers received P52.374 billion in bids, prompting the auction committee to award in full the P8 billion on offer.
The T-bills fetched an average annual rate of 5.272 percent, a 10.4-basis point
cess-for-joining-expanded-4ph/).
The 4PH program aims to build one million housing units annually until 2028. It remains the centerpiece of the Marcos administration’s push for urban development and housing.
“If we’re going to build, we will build projects [that] are within our plans and within our financial means,” Jacinto said. “What we need to ensure is that there is a constant supply, available supply of socialized housing units in the market.”
Under Pag-IBIG’s goal this year in providing affordable home financing, the Fund seeks to have 103,641 units taken out under socialized housing and low-cost housing, while 6,651 units for the 4PH program.
Group Angelito J. Domingo said during a forum last Thursday.
“There are three forces – technology as the tool, the criminal divide as the motive, and social impact as the public outcry—that create a perfect storm, which threatens the integrity of the legal gaming industry,” Domingo said.
According to him, the framework aims for a stronger collaboration between regulators, licensed operators, law enforcement, non-governmental organizations (NGOs) and the whole gaming community.
The Fund is also seeking to grant P156.86 billion in home loans to its members in 2025, up by 21 percent from the P129.73 billion in home loans disbursed in 2024.
Pag-IBIG offers a loan with a subsidized interest rate of 3 percent for the first five years of the loan term, which may be extended for another five years, under the “Pag-IBIG Housing Loan for the Expanded 4PH” program.
Members may purchase a houseand-lot package or a condominium unit from accredited Expanded 4PH projects approved by the DHSUD.
For minimum-wage and lowincome members earning up to P15,000 a month within the National Capital Region (NCR) and up to P12,000
of
decline compared to the 5.376 percent recorded during last week’s auction.
As compared to the Philippine Bloomberg Valuation (PHP BVAL) rates, yields of all three tenors were lower than the secondary benchmarks.
The PHP BVAL reference rates are 5.090 percent for the three-month tenor, 5.214 percent for the six-month tenor and 5.353 percent for the one-year tenor.
Ricafort believes that recent signals by monetary officials on another 25-basis points rate cut by the end of the year resulted in more investors snapping up T-bills.
“Global crude oil prices among 3-month lows and also among 4-year lows, as well as a relatively stable peso exchange rate vs. the U.S. dollar would help ease import costs and also support relatively benign inflation that could still support future BSP rate cuts,” Ricafort added.
However, Ricafort said external risks, particularly US President Donald Trump’s higher tariffs, trade wars and protectionist measures, could slow down the world and local economy and would warrant monetary easing, alongside fiscal expansion measures.
The Monetary Board has two more rate-setting meetings left in its calendar this year, on October 9 and December 11.
The national government will be raising P25 billion from T-bills every Monday to borrow a total of P100 billion this September.
About P1.757 trillion has been borrowed as of the end of July, of which P1.341 trillion was sourced from the local debt market, while the remaining P415.918 billion came from foreign lenders.
The government’s outstanding debt has reached a new record-high of P17.563 trillion as of end-July, 11.9 percent higher from P15.689 trillion in the same period a year ago. Reine Juvierre S. Alberto
The player education aspect of the framework will be focused in playing responsibly and awareness of financial and psychological risks of gambling, while operator training will impose mandatory certification for certified identity.
Meanwhile, public outreach aspect will require active collaboration with NGOs, financial regulators, and law enforcement agencies, among others.
Pagcor noted that the rapid rise of online gaming in the country is catalyzed by the accessibility of technol-
THE Philippines is nearing inclusion in JP Morgan’s emerging market government bond index, after the Philippine pesodenominated government bonds (RPGBs) were placed on its positive watchlist.
If the country were included in the index, this would help attract more foreign investments, increase liquidity and allow the government and eventually the private sector to borrow at cheaper costs.
In its report issued on September 12, JP Morgan said that if the Philippines were included, it would have a weight of about 1 percent of the Government Bond Index for Emerging Markets (GBI-EM) Global Diversified Index.
For potential inclusion in the index are RPGBs issued from 2023 with tenors up to 20 years.
The GBI-EM is the pioneer index for local-currency emerging market sovereign bonds covering about 19 countries. The index is most followed by global fund managers and investors as a guide for where to invest.
Under the watchlist, the Philippines is in the final review phase for potential inclusion in JP Morgan’s GBI-EM series.
JP Morgan said it will complete its Index Watch assessment within six to nine months, with updates expected during the first quarter of 2026.
Finance Secretary Ralph G. Recto said on Monday that the inclusion is an excellent opportunity for the country to promote the capital markets to a wider range of investors.
“This is a promising development for the Philippines as the potential inclusion of our government
ogy and the people’s heavy reliance on their mobile devices.
“Also, a lot of people are not aware of the financial implications when they engage in gambling. They only realize the impact of what they did when it’s already too late. They could have done better by being educated at the onset,” Domingo said. This initiative is to recognize that technological advances are driving an environment where illegal operators can succeed, making legitimate gaming businesses struggle.
bonds into this global index means increased capital inflows and therefore more funds for the government to better serve Filipinos,” Recto was quoted in a statement as saying.
“Getting on the positive watchlist is a testament to the work the government and financial market leaders has done especially in the last few years to expand our capital markets, particularly our local bond market. This news serves as further impetus to execute more changes and reforms,” Bangko Sentral ng Pilipinas Governor Eli M. Remolona Jr. said in a separate statement.
JP Morgan attributed its positive assessment to the Philippines’ swift and proactive passage of fiscal reforms over the last three years.
This includes the Marcos Jr. administration’s efforts to streamline tax treaty procedures, expand the repurchase agreement market, launch the peso interest rate swap market, increase accessibility of the RPGB through Euroclear and consolidate benchmark tenors.
The Bureau of the Treasury reissued select bonds instead of issuing new bonds and created more liquid “benchmark” bonds that investors are more confident to invest in.
JP Morgan, however, said investors continue to look for further enhancements in secondary market liquidity and easing of tax hurdles.
The GBI-EM series is the first comprehensive global emerging markets index of local government bond debt, launched in June 2005.
JP Morgan is a leader in investment and commercial banking, financial transaction processing, and asset management. Reine Juvierre S. Alberto
Art BusinessMirror
Harringtons puts up its first auction in seven years
HARRINGTONS Lifestyle Auctions returned with a bang after a seven-year hiatus, putting a wide range of historic and artistic lots under the hammer on September 6 at The Rockwell Club, Palm Grove in Makati City.
The auction, titled Remnants of the Past, featured a collection of masterpieces of Philippine Art, including works by National Artist Vicente Manansala, Presidential Medal of Merit Awardee Juvenal Sansó, and Filipino glass art pioneer Ramon Orlina. There were exquisite, timeless furniture as well, both European and Filipino, along with rare jewelry, cultural relics, and collectibles.
“After seven years, it is with great excitement that we welcome you back to the world of Harringtons Lifestyle Auction,” said chief executive officer Samuel V. Powel. “For years, Harringtons has stood as a trusted name in fine collectibles, known for its discerning eye, timeless pieces, and the stories that live within them. With great care and passion, we’ve assembled a remarkable selection for this season’s auction—one that honors tradition while embracing
today’s evolving tastes.” Among the featured lots was a commanding bronze by renowned sculptor Ed Castillo. His copper and steel creation, titled Sails, catches a different glint of light in every curve, creating the illusion of motion—a majestic galleon about to set sail. According to Harringtons, “It’s
Multiple
probably the only galleon by Castrillo ever to reach the auction block.”
A 1979 Romulo Olazo oil painting also hit the block for Harringtons.
Diaphanous #198 forms part of the artist’s famous series, featuring Olazo’s original collagraph-based layering technique where he creates translucent forms that radiate a peaceful, contemplative presence.
Other items included in the sale were a Willem III Secretary Desk, a Vintage Necklace 18K Gold 13.7 Grams Gold with Russian Diamonds, and a 19th Century Wooden Table with Carvings from Rajastan, India.
According to Powel, Harringtons’ sale “marks more than just the resumption of our auctions—it is the beginning of a renewed vision.”
“We are thrilled to share that this is just the beginning—the first of many Harringtons auctions to come,” he said. “Each future event will continue our mission: to curate rare finds, celebrate artistic mastery, and create meaningful experiences for collectors, design lovers, and storytellers alike.”
Filipino artist Abe Orobia introduces next-gen creatives in exhibit
PROMISING artistic talents were spotlighted by celebrated Filipino artist Abe Orobia in his latest exhibitions.
Orobia explores the intricate relationship between humanity and nature through evocative, scenic, material-based paintings. Recently, he staged two exhibitions as an avenue to introduce his mentees—a pool of talented visual artists who Orobia trusts are set to mark their own names in the community. Both events featured the young talents from Artelier, a student organization at the De La Salle-College of Saint Benilde that emphasizes on the appreciation of the arts and the promotion of the use of traditional media.
Symbiosis, which was installed at the J Studio in Chino Roces Avenue, Makati City, delves on how human and natural existence are always interrelated as part of an interconnected ecosystem. “It focused on symbiotic relationships in nature—among animals, plants and animals, or humans and nature, and vice versa,” Orobia explained.
The selection of apprentices included Alex Pandaraoan, Annjew, Cydney Shanelle, Daphne Co, Jessa Desoloc, Kirsten Dava,
Mikhayla Harlea, and Roren Sy. They were encouraged to use metaphorical, symbolic, and allegorical themes in their visual narratives as they emphasize materiality and sustainability in their chosen mediums.
Oubaitori, on the other hand, was held at Nami Gallery in Katipunan Avenue, Quezon City. It took inspiration from the Japanese philosophy for personal growth.
An invitation to celebrate individuality and uniqueness, the show studied how “each flower has a different time to bloom.”
It touched on how each individual has distinct challenges and learnings as they reached different destinations in their lives.
It featured the diverse talents of Co, Dava, Mary Joy Go, Cheryl OwenSobrepeña, Cydney Shanelle, Isaac Buenaflor, Roren Sy, and Rachel Holaysan. Works by Judeo Herrera, Wellers, Bastee Orobia, and Bernard Cabugnason— fellow mentors of Orobia—were likewise highlighted in the show.
As a teacher, Orobia has always reminded his students that to grow their garden, they must nurture it with passion, discipline, and hard work.
“They must be patient and diligent,” he said. “They must plant it gently and with a vision as a seed within their minds and hearts so it will become a sprout and then a plant and then a tree that will eventually bear fruit.”
Beyond his artistic practice, Orobia is an educator, curator, and cultural advocate. He currently teaches at Benilde under the Fine Arts Culture-Based Arts Program.
He has served as a lecturer at the University of Santo Tomas from 2008 to 2012, and has likewise conducted workshops at the Ayala Museum as well as led art classes for the indigenous youth across the Philippines.
Among his many awards and citations, Abe Orobia was named a TOYM (The Outstanding Young Men) Honoree for Education, Arts, and Culture in 2021.
CANCER (June 21-July 22): An open and honest approach to personal and professional affairs will help avoid discord. Use your charm and intellect to persuade others to support your plans. A direct approach will make you appear strong and in control, making others feel comfortable and encouraging them to pitch in and become team members. ★★★
LEO (July 23-Aug. 22): Whether it’s self- or home improvement, what you do will be noticed. Stand tall and be proud of what you can offer, and you will receive more than anticipated in return. Stick to the most genuine path to avoid being coerced into doing for others what you should be doing for yourself. ★★★
VIRGO (Aug. 23-Sept. 22): Take nothing for granted. Get ready to roll up your sleeves and do the work yourself. Take pride in what you do, and the rewards will be forthcoming. An opportunity to spend time with someone seasoned in areas you are lacking will be informative and encourage you to rethink how you want to pursue your dreams. ★★★★
LIBRA (Sept. 23-Oct. 22): Simplify your life and concentrate on getting things done on time, and you can avoid an altercation with anyone who may want to make you look bad. Keep your feet firmly planted on the ground and your mind focused on what’s necessary and how quickly you can achieve what you set out to do. ★★
SCORPIO (Oct. 23-Nov. 21): You need a break. Shake things up and redirect your energy toward something you feel enthusiastic about, and the tables will turn. Protect yourself from those who seek an altercation or offer temptations that are likely to jeopardize your career, reputation or health.
SAGITTARIUS (Nov. 22-Dec. 21): Change your surroundings to make your life easier and more comfortable. Stop worrying about what others want, say or do when your focus should be on doing what’s best for you. Equip yourself with the fundamentals you require to live the life that makes you feel good about yourself and look forward to each day with gratitude. ★★★
CAPRICORN (Dec. 22-Jan. 19): Get out and communicate with people who share your interests. What you learn will help you configure the best way to improve your life. Traveling, reuniting with people from your past and paying more attention to those you care about most will help you get your life in order and your plans in place. ★★★
AQUARIUS (Jan. 20-Feb. 18): Today is all about how you make and spend your cash. Cap your expenditures and lower your overhead by incorporating frugal habits into your lifestyle. Look for higherpaying jobs, send out resumes and network with people who share your skills, and you’ll gain insight into who’s hiring and what companies expect of you in today’s market. ★★★
PISCES (Feb. 19-March 20): Mix business with pleasure and expand your connections and ability to get ahead. Discipline and hard work alone aren’t enough; you also need allies and a desire to stay on top of the latest and greatest technology to take advantage of new opportunities.
BIRTHDAY BABY: You are energetic, opportunistic and independent. You are hardworking and
Galleon:
FEATURED artworks at the Oubaitori exhibition in Nami Gallery, Katipunan.
Show
Royce Cabrera widens his artistic spectrum
THERE is no doubt that actor Royce Cabrera is playing his cards very well.
I first took notice of him in 2019 in the festival film Fuccbois, where Cabrera gave a raw yet remarkable performance. After watching the movie, I remember having a long discussion with my dear (late) actor-friend Ricky Davao who shared that he was more than impressed with the brave and brilliance of Cabrera’s natural acting skills, and reckoned that if the young newcomer will take this profession seriously, he will truly go places.
Cabrera told us that he has recently rekindled his romance with theater, accepting a major role in the one act play The Foxtrot. “I play a dance instructor whose life gets intertwined with that of a wealthy, lonely matron. The play, written by Chelsie Casiño, had its very first run as part of the 2024 Virgin Labfest where a different actor played my character Diego. I am really excited to be given this chance to explore theater as another platform so I can be refreshed on the disciplines involved in this medium. At this point in my career, I welcome all the learnings I can, so I can continuously improve as an actor.”
The Foxtrot will be part of a twinbill titled Dedma—the other piece is titled Let’s Do Lunch—and performances are scheduled this October at the Mirror Studio in Makati.
There are also talks that once the script of a new play inspired by the movie Scorpio Nights is approved by its producers and its director Joel Lamagan, Cabrera is considered a shoo-in for one of the major characters—that is, if his schedule permits.
On the movie front, Cabrera has also become a sought-after actor. Over the last few years, he has played good roles in films, like Green Bones, Balota, Broken Blooms, Lola Igna, and Arisaka “I love acting for film. I like collaborating with amazing creative people. I like giving life to characters and see them come alive on the big screen. I like being mentored by intelligent filmmakers, being guided by creatives who are not egocentric, and who share the love of storytelling and creating characters. Filmmaking is a totally different experience that is very satisfying for me.”
I also learned that he is part of a new movie, titled Bar Boys: After School, a sequel to a 2017 movie about law students. Cabrera will be with the original actors Carlo Aquino, Rocco Nacino, Enzo Pineda and Kean Cipriano, and they will be joined by newbies Will Ashley and Emilio Daez.
We asked Cabrera what is his edge among the
am not mestizo and not the matinee idol type of actor, so maybe somehow I stand out in a sea of really fairskinned and strikingly handsome hopefuls. I really do not know, and honestly I’m quite embarrassed to answer your question.”
It is this kind of sincerity that makes Cabrera endearing, plus his effortless masculinity and derring-do even in roles that require showing a lot of skin. “I have no qualms in taking off my clothes especially when I trust the material, my director and my co-actors. I guess it is part of my journey as an actor so I can showcase the best that I can, one role at a time.”
Short films, docus on extrajudicial killings headline human rights, democracy, and peace festival
IN commemoration of the Philippine Lasallian Peace Month for Democracy and Human Rights, critically acclaimed short films and documentaries on the controversial extrajudicial killings (EJK) amid the country’s war on drugs will be screened for free.
Organized as part of the 2025 Benilde Human Rights, Democracy and Peace (BeHRDP) Festival, the screening sheds light on the significant impact of the campaign on the urban poor, as well as amplify the voices of the victims. It, likewise, highlights the vital role of filmmaking in preserving history and memory. In addition, it also fosters learning and critical thinking.
The line-up includes Basurero (2019) by Eileen Cabihing, Alunsina (2020) by Kiri Dalena, and Iiyak ang Langit (2025) by Kasharelle Javier and Monica Calderon.
Basurero introduces Bong, a poor fisherman with a sick daughter. To make ends meet, he takes part in the country’s brutal war on drugs as a garbage man. His task: To dump the bodies of slain tokhang victims into Manila Bay.
Alunsina documents the struggles of families and children in an urban settlement severely affected by the government’s stance on drugs. It follows Dalena as she engages with a family whose child has resorted to drawing pictures to cope with the tragedy and again confront the complexities in communicating the violence they have witnessed.
Iiyak ang Langit tells the story of Nanay Melinda, who was subjected to oppression in the hands of abusive men—her husband, the policemen, and the former president’s deadly drug war. It follows her journey as part of the Navotas-based Silingan Candlemakers, a non-profit organization which provides relatives of EJK victims a safe space to heal together by creating and selling candles.
Early on, Cabrera admitted that he had doubts if he should pursue acting as a profession, but life opened many doors through many people that made him trust himself and this path that he has chosen to pursue.
“I’d like to think that, perhaps, it’s destiny. I am happy where I am and I want to be an actor for as long as I can. I’m thankful that I am part of Sparkle and GMA. I would continue to work hard so I can widen my spectrum, not only as an actor but as an artist in the truest sense.”
Without a doubt, Royce Cabrera has many aces up his sleeves and is definitely on the right track.
The screening will be followed by a talkback session, as well as a special performance in collaboration with the Philippine Alliance of Human Rights Advocates. Titled Nais na Bukas: Isang Pagtatanghal mula sa mga Piling Kamag-anak ng Biktima ng Karahasan, it will feature the kin of EJK victims who underwent art therapy and workshop with the Philippine Educational Theater Association.
The entire initiative is spearheaded by the Museum of Contemporary Art and Design and the Center for Social Action of the De La Salle-College of Saint Benilde, in partnership with modern heroism collective Dakila and its Active Vista Center.
The event is free and open to the public. It is slated on September 19, 2025, from 12 noon to 2 pm. Venue is at the MCAD Multimedia Room, Benilde Design + Arts Campus, Dominga Street, Malate, Manila.
More information is available at www.facebook.com/ MCADManila.
‘Demon Slayer: Infinity Castle’ opens to $70M, biggest anime debut to claim top box-office spot
LOS ANGELES—Demon Slayer: Kimetsu no Yaiba— Infinity Castle carved out a place in box-office history this weekend as the Japanese anime film sliced straight to No. 1—outpacing the horror sequel The Conjuring: Last Rites. The Sony-owned Crunchyroll release shattered expectations with a mighty $70 million debut in North America, according to Sunday estimates from Comscore. That haul marks the biggest domestic opening ever for an anime film, surpassing Pokémon: The First Movie, which opened with $31 million in 1999. The film extended its meteoric run, scoring the biggest anime opening of all time with a $132.1 million weekend, according to Comscore. Crunchyroll and Sony rolled it out across North America and 49 international markets, pushing the global total to $177.8 million. “This performance by this particular film shows the unpredictability of the box office,” said Paul Dergarabedian, the senior media analyst for Comscore. “If we were sitting here, let’s say a month or even a couple of weeks ago, would we be thinking,
‘Wow, a Japanese anime film would be No. 1 at the box office, overperform and bring in $70 million?’ If you predicted that, kudos to you.”
The movie is the first in a three-film trilogy that brings the hit Shonen saga to its climactic showdown.
The story follows Tanjiro Kamado, a kind-hearted boy who takes up swordsmanship after his family is slaughtered and his sister, Nezuko, is turned into a demon. Together, they fight a supernatural underworld of monstrous foes while clinging to what’s left of their humanity.
The Infinity Castle opener hails from renowned studio Ufotable, whose lavish visuals and breakneck fight sequences have helped make the franchise a global sensation and juggernaut.
The film’s domination also points to a September rebound after a sluggish August. Warner Bros.’ The Conjuring: Last Rites which opened to $83 million last weekend, slipped to second with $26 million.
The horror sequel has now scared up $131 million domestically.
“This shows that two months of down trending box office can be totally reversed over the course of a couple of weekends,” Dergarabedian said.
Focus Features’ Downton Abbey: The Grand Finale opened in third with $18.1 million. Set in the 1930s, the film finds Lady Mary embroiled in a public scandal as the Crawleys confront financial strain and the looming threat of social disgrace. While the aristocratic family adapts to change, the household staff prepares for a new chapter with the next generation leading Downton into the future. In fourth place, Lionsgate’s The Long Walk debuted with $11.5 million. Directed by Francis Lawrence, the adaptation of Stephen King’s first-written
BASURERO (2019) by Eileen Cabihing
THE
Meet the Chefs Behind the Flavors: A first-of-its-
kind culinary collaboration at Savoy Hotel Manila
For the very first time in Savoy Hotel Manila’s dining history, three talented chefs from three Savoy hotels across the Philippines will come together to create a dining experience like no other. This October, guests are invited to savor a special collaborative menu featuring signature creations from Boracay, Cebu, and Manila—each plate carrying the soul and story of the chef behind it.
From the sun-kissed shores of Boracay, to the vibrant food scene of Cebu, and the bustling heart of Manila, each chef brings not just a dish but a heritage, a philosophy, and a personal journey to the table.
Chef Vincent Cabahug – Savoy Hotel
Boracay Newcoast
Chef Vincent’s journey began with the comforting flavors of his Cebuano childhood, later honed by mentorship under a Michelinstarred chef. Today, his cooking reflects a marriage of heritage and innovation, blending rustic Visayan flavors with refined modern techniques. His dishes, like the Barbecue Chicken Croquette and Fisherman’s Pie, tell stories of home, roots, and the joy of reimagining traditions with flair. For Chef Vincent, dining is not just about taste; it’s about sparking comfort and curiosity in equal measure. He hopes every bite leaves Guests feeling both nostalgic and intrigued.
Chef Coke Semblante – Savoy Hotel
Mactan Newtown
From humble beginnings as a student working in a fast-food chain to exploring
the world’s oceans as a cruise ship chef, Chef Coke’s culinary path is a true voyage. His Emperador Brandy-infused Cebu Skipper Lobster Bisque with Grilled Pan Bisaya and Mactan Chili Crab are reflections of this journey; luxurious yet deeply rooted in Cebu’s coastal heritage. With every spoonful, he wants guests to experience not just the flavors of the sea, but the warmth and hospitality of Cebu. To him, cooking is storytelling; each ingredient a chapter, each dish a narrative of tradition elevated by passion and precision.
Chef Kit Carpio – Savoy Hotel Manila
With more than 27 years of culinary experience, Chef Kit Carpio has built a reputation as a mentor, innovator, and advocate of Filipino flavors. Known for his inventive use of sampaguita, the national flower, Chef Kit reimagines tradition with dishes like his sizzling pan-roasted stuffed squid and refreshing cucumber and seaweed salad. His culinary philosophy blends local ingredients with global techniques, offering Guests
the signature hospitality of the Philippines’ premier lifestyle and entertainment destination.
For more than two centuries, Oktoberfest has stood as one of the world’s most celebrated traditions. Originating in Munich in 1810 as a wedding feast for Crown Prince Ludwig, the festival has grown into a cultural phenomenon that welcomes millions each year. It is the clinking of steins at long wooden tables, the hum of brass bands filling the night air, and the rich aroma of roasted pork knuckle that calls on a sea of revelers. More than a feast of beer and food, Oktoberfest has become a global symbol of camaraderie and joy.
a dining experience that feels both comforting and adventurous.
For Chef Kit, food is about connection; bringing people together through flavors that are familiar yet delightfully surprising.
A Feast of Stories, A Celebration of Flavors This October, the three chefs will collaborate on an exclusive menu that showcases their individual best sellers alongside a specially curated dining experience at Savoy Hotel Manila. More than just a collection of dishes, the event is a celebration of culinary heritage, creativity, and the spirit of collaboration across the Savoy brand.
From Boracay’s rustic charm, Cebu’s oceanic delights, to Manila’s inventive takes on tradition—Guests are invited to taste not just food, but the stories and passions of the chefs behind them.
The Nexus Golf Club is a haven for leaders to conduct business
AT The Nexus Golf Club, even the most work-oriented person can find time to relax without worrying about losing productivity during their leisure time. Whether strategizing over a friendly round of golf or deepening alliances, guests benefit from an atmosphere designed to inspire both excellence and ease.
Jackson Tan and Amos Kai, proprietors of The Nexus Golf Club, have recognized the need for a private, world-class environment where diplomacy, business, and sport can converge, especially these days when everybody seems to be on a roll.
“The Nexus isn’t just a golf club; it’s a sanctuary for leaders to connect, unwind, and engage in meaningful dialogue away from the public eye. We were inspired to create a space where the fairway becomes a boardroom, and every swing fosters a new relationship,” Tan shares.
The 3,000-square-meter space of The Nexus Golf Club is located at K1 Center by Prestige Bay Aseana City, Parañaque, near major diplomatic hubs, international corporations, and Manila’s most exclusive residential neighborhoods.
The K1 Prestige Center provides the discretion, security, and sophistication that every member or guest expects.
This indoor golf club is equipped with China’s best brand, called Green Joy simulators. It is the same technology trusted by PGA Tour professionals and major golf brands. What sets them apart is their unparalleled accuracy in ball tracking, swing analysis, and realistic course play.
Beyond technology, the owners disclose that they made it a point to customize the simulators to include private session recording and data analytics — perfect for members who wish to review their game in the company of a coach or business partner in complete privacy.
“We feature three VIP simulator suites and three social bays. Each VIP suite is acoustically isolated and offers bespoke service, ensuring an undisturbed experience. All bays are reserved exclusively for members and their guests, with advanced booking available through our member concierge.”
What’s more, budding golfers can have private coaching with PGA-certified professionals, tailored to all skill levels — from beginners to low-handicap players seeking refinement. The Nexus Golf Club also hosts invitation-only clinics focused on skill development and networking among peers.
“We regularly host charity tournaments, diplomatic leagues, and private corporate championships, as well as private events for members only. These are not merely competitions — they are gathering points for leaders who wish to compete, collaborate, and contribute to meaningful causes.
“Members and guests may use our honesty fleet of premium Honma and Yonex clubs at no charge. We also offer customized club ordering services for those wishing to commission their own set.”
Membership is by application and referral only, designed to maintain a community of influence and integrity. The Nexus Golf Club offers three types of membership: Founding Membership, which provides lifetime privileges; Corporate Membership, for executive teams; and Diplomatic Membership, exclusive to embassy personnel. All membership types include access to simulator bays, the lounge, and member-only events.
“We cherish the privilege of facilitating connections. Seeing a trade agreement discussed in a simulator bay, a cultural exchange initiated over whisky, or a friendship formed in the lounge—that is the true reward. We are architects of opportunity,” Tan says of the foremost reason for putting up the venue.
Talwar (2nd from left), accompanied by Host Eric Bituin (left) and Hilton Manila Newport World Resorts Director of Operations Lulai Sau.
The heart of the celebration is found at the long tables laden with food. For the first time, Oktoberfest at Newport World Resorts will feature a buffet-style spread, allowing guests to explore and enjoy an even wider variety of Bavarian dishes at their own pace. Platters of warm pretzels and rye bread paired with savory dips welcome guests, followed by spreads of sausages, sauerkraut, schnitzel, and the famed crispy pork knuckle with its golden crackling. Classic sides such as Spaetzle and braised red cabbage bring balance to the hearty fare, before desserts like apple strudel, Kaiserschmarrn, and jam-filled Krapfen provide a sweet finish. Each dish is thoughtfully created by the award-winning culinary team of Newport World Resorts, dedicated to recreating authentic Bavarian flavors.
Beer flows fresh from the tap with Weihenstephan, the world’s oldest brewery, taking center stage. Weissbier
and Lager are served on draft, and dark beer by the bottle. With nearly a thousand years of brewing history, Weihenstephan embodies the very heart of Bavarian beer culture, making every pour a celebration in itself.
No Oktoberfest is complete without music, and returning once again for the festivities is the Anton Showband from Austria. Their lively performances bring the unmistakable sound of Oktoberfest to Manila, filling the ballroom with songs, sing-alongs, and crowd favorite shenanigans that guarantee an evening of cheer. Traditional games and raffle prizes keep the spirits high, with cheers echoing as guests test their strength in stein-holding contests or race through beer-chugging challenges. The revelry peaks as steins are lifted high, voices rise in celebration, and every moment brims with the unmistakable energy of Bavaria brought to Manila.
Be part of the grandest Oktoberfest celebration at Newport World Resorts. Tickets are priced at P5,500 nett through https://newportworldresorts.com/oktoberfest-2025. The festival runs from October 8 to 11, 2025, with all four dates open for public sale.
For more information on Oktoberfest 2025, visit www.newportworldresorts.com and follow @ newportworldresorts on Facebook, Instagram, and TikTok. Join Newport World Resorts Viber Community at https:// newportwr.com/nwrvibercommunity for exclusive updates. Every visit is made more rewarding with an Epic Rewards membership, download the Epic Rewards Mobile App for free at the Apple App Store and Google Play Store.
NUSTAR Joins Brigada Eskwela 2025 to Support Talisay Kindergarten Students
Don’t miss this rare opportunity to meet the chefs and indulge in their signature creations—available only this October at Savoy Hotel Manila. Filipinos and
program for the children, during which snacks and gift items were distributed, fostering connections and reinforcing a strong sense of community.
This effort was made possible through the shared vision and support for education and social development from the Universal Cultural Foundation Inc. and the Gokongwei Brothers Foundation.
“We at NUSTAR are proud to participate in Brigada Eskwela this year. It’s a meaningful way for us to support education and demonstrate our commitment to the communities we serve,” said Mary Ann Narciso, Vice President for Human Resources.
The collaboration between NUSTAR, its partners, and the local school community highlights the positive impact of how collective action can drive real, lasting change and contribute directly to nation building.
Members and visitors alike can enjoy not only the thrill of playing golf but also the exclusive features that The Nexus Club offers. It has a curated Cigar & Whisky Lounge with rare vintage Cubans and aged single malts. The private dining room serves a degustation menu prepared by a Michelinstarred consulting chef. Most importantly, the indoor golf club provides discretion and connection that make each visit both an escape and an opportunity.
“Indoor golf will continue growing as a sophisticated social experience—not just practice. The future lies in blending technology with hospitality, creating spaces where sport, socializing, and business seamlessly merge. The Nexus is at the forefront of that evolution,” he adds.
The Nexus Golf Club officially opened its doors with a ribboncutting ceremony on August 28, 2025 led by distinguished guests including the city mayor of Parañaque, the Undersecretary of the Department of Tourism (DOT), representatives from various country consulates, members of chambers of commerce from different nations, businessmen, as well as the Vice President of the Philippine Golf Association of Professionals (PGAP), the Vice President of the Junior Golf Foundation of the Philippines (JGFP), and directors of Sta Lucia Group. For inquiries and membership applications, send an email to the membership director at inquiries.nexusgolf@gmail.com.
New bill pushes right to legal gender recognition in the PHL
HUMAN rights advocacy organization Society of Trans Women of the Philippines (STRAP) officially launched its drafted Simplified Legal Gender Recognition (LGR) Bill that aims to provide a clear, accessible, and rights-affirming pathway for transgender and gender-diverse Filipinos to change their name and gender marker in official documents.
The bill, which has also been endorsed by Transmasculine Philippines, Pioneer Filipino Transgender Men Movement (PFTM), and Relentlessly Chase, is a proposed law that establishes judicial and administrative procedures to allow Filipino citizens and legal residents to legally change their name and gender marker based on their self-determined gender identity.
“LGR is a dual-pathway bill; it’s administrative because its process is similar to the Clerical Error Law (a legal process to correct typographical mistakes in official documents) where you can access the civil registry,” said Vashti Ortego, lead drafter of the bill and Executive Director of STRAP. “At the same time, it’s also judicial because there is already an existing penal code to change name and sex.”
Drafted with inclusivity in mind, the Simplified LGR Bill includes non-binary gender markers and even minors belonging to the community with parental support.
“Most importantly, it should be based on selfdetermination because we don’t want it to be pathologizing and to be medicalized. We believe that everyone should self-identify and determine their gender. Even if you are fluid, that’s completely okay,” Vashti pointed out.
In support of this perspective, Commissioner Faydah Maniri Dumarpa of the Commission on Human Rights of the Philippines (CHR) expressed her support by openly welcoming the bill.
“The Commission welcomes this proposed legislation because it is grounded on the living experiences of trans
Trans-led coalition together with advocates gathered during the launch of Simplified Legal Gender Recognition Bill at University of the Philippines Center for Women’s and Gender Studies.
In the photo are, from left, Johnel Bulawit, President, Professional Golfers Association of the Philippines; Jose Yep, National Bureau of Investigation Deputy Director; Ms. Tan; Malaysian Ambassador to the Philippines Dato Abdul Malik Melvin Castelino; Mandaluyong City Mayor Benjamin Abalos; Francisco Wong, Filipino Cantonese Federation President; Jackson Tan; Foreign Affairs Undersecretary Atty. Leo Herrera-Lim; Amos Kai; Adhwa Azmil, Assistant Trade Commission, Embassy of Malaysia in the Philippines and Chen Shenxiu, Guangdong National Chamber of Commerce Philippines.
‘Empty Spain’ sees hope: Villages revitalized by foreign investment, sustainable projects
By Sabrina Nelson Garcinuno
DRIVING through Castilla y León in the northwest of Spain can create the impression of being alone in the world. The landscape is a continuous scroll of wheat fields, dry grasslands and expanses of yellow sunflowers punctuated by the occasional village; often no more than several run-down stone houses surrounding a church. With public transportation out of reach in these areas, and the distances between towns too great to walk, the only option is to travel by car.
Sparsely populated regions like these are so common that they’ve earned their own nickname—“España Vacía,” or “Empty Spain.” While the country’s rural areas began thinning out in the mid-20th century, when factory jobs drew workers to cities, depopulation has accelerated in recent years, and particularly in the northwest. A lack of jobs and cultural offerings, combined with poor infrastructure and housing stock, have helped fuel the exodus. Spain’s rural areas saw a 4.4% population decline between 2014 and 2023, according to a government report, even as the country’s overall population grew by 2.6%.
“In Spain, hundreds of villages are going to disappear due to a lack of younger people who want to make a life there,” said Juan José Manzano, co-founder of the rural revitalization organization AlmaNatura.
While 84% of Spain’s territory is rural, only 16% of people live outside cities. Population density maps show vibrant clusters around the coastline and big cities, and empty stretches across the country’s interior. This has contributed to fears that smaller towns and villages—as well as their centuries’-old histories, traditions and cultures—may eventually vanish. With fewer people around to maintain forests and vegetation, it also makes wildfire-prone regions even more vulnerable
To save these areas, public and private actors are experimenting with ways to reverse demographic decline, and the government even has a ministry focused on the issue. At the same time, the stresses of cities are persuading more people to consider life in the countryside.
Among the businesses catering to a more affluent demographic is Aldeas Abandonadas, a Spanish
real estate agency that specializes in the sale of rural hamlets and villages. Recently, the company, which usually handles between six and seven contracts a year, has seen a rise in demand from foreigners and young people seeking to avoid high mortgages or simply relocate somewhere “peaceful and affordable,” said its president, Elviria Fafian. Last year, the agency sold a rural town situated 40 kilometers from the city of Burgos in Castilla y León to a Dutch couple for €350,000 ($408,870).
The new owners of Bárcena de Bureba, a mathematician and computer scientist, plan to transform the town into an eco-village with a sustainability focus. They’ll start by renovating four of the town’s 62 houses, and hope that more people will eventually join with their own projects.
“We wanted to do something good with our money,” explained Maaike Geurts, the mathematician. “And not sit in front of our computers our entire lives.”
It takes a village WHEN Juan Ansótegui and his brothers purchased Villalibado in 2007, he never imagined the town would become a tourist attraction.
“Originally, the plan was just to build a few houses, a small retirement complex,” Ansótegui recalls. “But little by little, we got more ambitious.”
Located 30 minutes outside of Burgos, Villalibado had been abandoned for over three decades when the Ansóteguis bought most of its remaining structures. That included a handful of houses and a 12th-century Romanesque church. Over the years, the brothers restored most of the homes and built two swimming pools, a restaurant and bar and other amenities. They landscaped the grounds and outfitted the village to run on solar and geothermal energy. Now, it’s a popular destination for weddings, retreats, and big family gatherings. A group of scientists from San Francisco recently rented out part of the village next year to view a solar eclipse.
While most residents are seasonal, a steady flow of visitors keeps Villalibado active yearround. “We are so happy to see the town alive again,” said Alonso Manjón, the mayor. “It has also motivated us to maintain our own properties and carry out new projects.”
Its success has had spillover effects on neighboring Villadiego, a
1,500-person town and municipality located four kilometers away.
Ángel Carretón Castrillo, Mayor-President of the Villadiego City Council, says Asotegui’s project has been “like winning the lottery.” Visitors from Villalibado come to buy produce, visit the six local museums, and spend time in its cafes and bars.
As the larger town, Villadiego acts as an administrative center for its neighbor, offering banks, schools, child and healthcare that would otherwise not be easily accessible. “Without good services to offer,” said Carretón Castrillo, “you stand little chance of attracting and getting people to stay.”
The town still struggles to retain residents, yet there have been some new arrivals. Celia, a museum guide in her late 20s, moved from Madrid to Villadiego in search of a quieter life. “It just wasn’t for me,” she said of the capital. Six years later, she has no plans to leave.
Like Villalibado, Villadiego comes alive in the high season. On an afternoon in August, families
shared meals in the main square while elderly residents looked on appreciatively. In contrast to most rural towns, where the demographics skew older, Villadiego was thrumming with children accompanied by grandparents and parents. Young people in their 20s and 30s lounged in the square with drinks and cigarettes, discussing their plans for the rest of the summer.
But as Villalibado and Villadiego chart new courses, a cautionary tale is hidden in the wheat fields just six kilometers away. Villamorón was once a 150-person village boasting the Church of Santiago Apóstol, among the earliest Gothic-style churches in the province of Burgos. Now, its homes and small cemetery have been abandoned to nature, and the town could almost pass unnoticed were it not for the church.
Good neighbors
RICARDO PADÍN and his family moved to Spain last September to escape difficult conditions in their native Venezuela. They first set themselves up near relatives in
Alicante, but knew they wanted to live in the countryside. While watching YouTube one day, Padín, an artisanal knifemaker, came across a video about HolaPueblo, an initiative run by the AlmaNatura organization that helps small-time entrepreneurs move to depopulated villages. Between 2020 and 2025, HolaPueblo has helped 85 families resettle across Spain, resulting in 58 new bakeries, bars, art studios and other businesses. The Padíns are now among them.
“Since I arrived in Spain, my greatest wish was to settle in Galicia, since it is the land where my grandparents were born,” Padín explained. Two months ago, the family moved to Placín, a town with fewer than 200 inhabitants surrounded by mountains in Galicia’s Ourense province. They found a rental house with a workshop where Padín can forge knives, and already know all their neighbors.
There are challenges, he acknowledged. Buying groceries and other essentials requires travelling to a nearby village, and their son’s secondary school is several towns away. Padín also makes TikTok and Instagram videos to promote his business, and he’s struggled with reliable internet access. “The main drawback is that fiber optic internet doesn’t reach Placín,” he explained, adding that he had to drive out of town to upload his videos.
HolaPueblo is one of a growing number of initiatives focused on rural revitalization. Its organizers
don’t collect economic data, but Manzano, the co-founder, notes that the arrival of new families in rural areas generates “immediate economic activity” through home purchases and spending at local businesses, and often sets off a “virtuous cycle” that draws more newcomers over time.
There are signs that depopulation in areas like Galicia and Castilla y León is starting to slow. While the overall number of deaths still outpace births, a 2019 study by La Caixa Foundation’s Social Observatory found that a “generational renewal” is starting to take place. In municipalities with fewer than 10,000 residents, the study found that nearly 10% were born abroad, and that most were between the ages of 20 and 39.
Lasting effects
WHILE individual efforts to revitalize Spain’s towns and villages can have local impact, experts like Miguel González-Leonardo, an independent researcher on population studies, say that structural measures are the only way to catalyze greater change. Some are slowly being enacted: At the government level, authorities in some regions offer grants, subsidies and tax deductions to incentivize people to move there. In Andalucia, financial support is available to anybody interested in purchasing a home in a village with fewer than 3,000 inhabitants, and on a national scale, the government allocated 10 billion euros in 2021 to combat depopulation.
While it’s too soon to say whether these policies have made an impact, they’re relatively small-scale, and González-Leonardo doesn’t expect any dramatic reversals. “Within a few years,” he said of underpopulated areas, “some of these municipalities will likely disappear. There’s no economic activity, and there aren’t many policies or resources that can realistically be leveraged.” At the same time, as more attention is focused on regions that have long been overlooked, people are starting to take a deeper interest in life outside cities.
“People come to visit every day: tourists, curious travelers. It’s generating real interest,” Asótegui said of his own small town. “It’s incredible to see how an abandoned village can be transformed into a tourist destination that attracts people from all over the world.” With assistance from Laura Millan and Rachel Lavin/Bloomberg
Missing billions in Pakistan expose grim reality of climate finance aid
By Ishika Mookerjee & Faseeh Mangi
WHEN churning flood waters swept away a group of tourists in Pakistan’s Swat Valley in June, the whole country felt a sense of déjà vu.
Just thr ee years ago, extensive floods had swallowed entire hotels and families vacationing in the “Switzerland of Pakistan” and caused more than 1,700 deaths and billions in damage in other districts. Today, extreme rainfall has once again inundated swathes of the country, underscoring its status as among the world’s most climatevulnerable. The relentless tragedies highlight how woeful Pakistan’s disaster preparedness remains, as lofty climate funding pledges from advanced, higher-emitting countries and multilateral donor agencies fail to materialize. The shortfall is emblematic of the grim irony facing small, less-developed economies that contribute minimally to
climate change but bear the brunt of its impacts.
Less than half of the roughly $11 billion pledged by the European Union, China, Asian Development Bank and others in the wake of the 2022 floods has reached Pakistan, said the UN Office for the Coordination of Humanitarian Affairs, citing government data. Projects have been or are being identified for about three quarters of the total pledged amount, according to the Ministry of Economic Affairs.
Meanwhile, the country—which is also confronting multiple economic and political crises—has cited World Bank calculations that it needs $348 billion in investment through 2030, including $16 billion just to recover from the last disaster.
“ The number one problem for Pakistan’s ability to do what it needs to do is the lack of financing,” said Mohamed Yahya, the United Nations Resident and Humanitarian Coordinator for the country. What has been disbursed of that pledge—
about $4.5 billion as of June—has gone to rebuilding housing, transportation, drainage, and toward flood risk management.
The ADB has provided $528 million for initiatives including a reconstruction project in Sindh province and to rebuild climateresilient infrastructure, a spokesperson said in an email. And the World Bank has channeled about $1 billion in new financing to reconstruction and adaptation projects in the Sindh, Khyber Pakhtunkhwa and Balochistan provinces, a spokesperson said in an email. The organization has also approved financing of $600 million on top of its original pledge.
But officials say it’s far from enough.
Globally, the UN estimates the funding gap for climate adaptation is at least $187 billion a year. That’s in part because developed countries have been slow or reluctant to follow through on funding commitments announced on the international stage. Many EU countries, facing fiscal pressure at home, are trying to push economic giants like China to share the climate aid burden.
A pullback from the fight against climate change in some Western countries— including the US’ withdrawal from the Paris Agreement— is further slashing aid.
F inancing is also slow to flow because it’s often offered in the form of loans or is redirected from other projects, making it less palatable to emerging markets as it increases their debt burden and routes capital back into developed markets.
And finally, developing countries often lack the ability to use climate financing effectively. Pakistan’s Finance Minister Muhammad Aurangzeb said in August that his country had failed to develop enough investable flood-related projects to benefit from the pledges that came after the 2022 floods, according to local news reports.
The South Asian nation has also been buffeted by corruption, political upheavals, and poor resource management, leaving it with little fiscal room to bear the costs of climate adaptation.
The government has “to ensure that
they do their homework in terms of needs of the communities across Pakistan and then develop plans accordingly,” said Imran Khalid, an environmental scientist based in Islamabad. Urban planning needs to be improved to prepare for excessive rainfall, and systems put in place to manage complex financing and large-scale projects, he added.
Pakistan’s national adaptation plan says funds should be channeled toward infrastructure for drought-flood cycles in agricultural areas, developing early warning systems, and constructing wetlands and open spaces to capture runoff. Last month, Climate Change Minister Musadik Malik said in parliament the government is developing a strategy to disburse and track climaterelated flows.
The country is making some progress on improving disaster preparedness. In July, it launched a remote sensing satellite for round-the-clock disaster assessment in collaboration with China. The government
is also working with the UN to train officials and install early warning systems in the vulnerable valleys of Gilgit-Baltistan and Khyber Pakhtunkhwa.
It can’t come too soon for Pakistan, a country with more than 7,200 glaciers— the highest tally outside polar regions— whose melt combines with annual monsoons to make floods its most frequently occurring natural disaster. Rainfall at one point this season was 82% higher than a year ago, the national weather agency said. Nearly 900 people have died, thousands have been forced to evacuate, and acres of crops destroyed.
“If devastating events continue to happen along the way, at various points, they can add to the economic burden,” said Zeeshan Salahuddin, a partner at Tabadlad, a think tank based in Islamabad. “And this is why Pakistan really needs to focus more on finding innovative finance solutions.” With assistance from Tooba Khan, Christopher Udemans and Kevin Dharmawan/Bloomberg
THE 13th-century church of Santiago Apstol in Villamorón. Considered the earliest Gothic structure in the region, the church dominates the hamlet. ANA MARIA AREVALO GOSEN/BLOOMBERG
CBy Josef Ramos
ANADA and Turkiye displayed tenacity over their respective rivals to remain unscathed after two matches for guaranteed slots in the round of 16 of the FIVB Men’s World Volleyball Championship at the Smart Araneta Coliseum on Monday.
D espite the electrifying cheer from the pro-Japanese crowd, world No. 8 Canada wasn’t intimidated at all in eliminating No. 7 Japan from Pool G, 25-20, 25-23, 25-22. Sharone Vernan-Evans and Nicholas Hoag manned the fort for the Canadian who sent the Japanese to their second straight defeat—they lost to Turkiye, 19-25, 23-25, 19-25, last Saturday. They foiled every Japanese rally, pouncing hard on their attacks through unpredictable set plays provided by setter Luke Herr and Max Elgert.
“I think today, we played really well, and we are very disciplined and that is what we wanted to do going forward,” Vernan-Evans said. “We played our brand of volleyball and like our identity of what we want to be.”
“Now, we go against Turkiye, and we’re going to prepare for that. Definitely, we’ll take a rest and prepare for that match, but we are excited to try to take first place in the pool,” Vernan-Evans added.
Canada faces No. 14 Turkiye at 2 p.m. on Wendesday for the top spot in Pool G. Turkiye beat Libya, 25-18, 23-25, 25-14, 25-16, and benefited from Canada’s victory over Japan—the Turkish team are in the round of 16 that begins Saturday at the SM Mall of Asia Arena in Pasay City.
Vernan-Evans unloaded 14 points highlighted by 12 kills and 33-yearold team captain Hoag, a three-time Olympian and world champion veteran, had 12 kills for 13 points.
“ We were patient. We played a very physical game, which was very important,” Hoag said. “The Japanese
Act II: Alas Pilipinas arranges comeback
ABy Troi Santos
O NANG BEACH Krabi, Thailand—The waves of Dahican Beach had long produced champions and this month, they carried their strength and spirit to international shores.
From September 12 to 14, eight of Mati’s finest skimboarders represented the Philippines at the Krabi Skimboard Competition 3 held at Ao Nang Beach in Krabi, determined to carve their mark against the world’s best.
L eading the team was Sonny Boy “Bayogyog” Aporbo, a decorated champion celebrated for his gravitydefying tricks, alongside rising talents Peter Ocdenaria, Rodel “Panggoy” Patawi, King Jhon Bucong, Jonilo Catubig, Tito Pondoyo Jr. and Vincent Balucanag.
Joveniel “Tomtom” Mamusog fought through to the semifinals but was sidelined by an injury that forced him to withdraw. Together, they carried the grit and artistry that have made Dahican Beach a proving ground for worldclass skimboarders.
The team’s milestone had not been possible without the support of homegrown allies—Tower 11 Mati Surf Hotel and Reel 8 Media Production were at the forefront of
making the international bid a reality, joined by a long list of sponsors from both public and private sectors.
The Provincial Government of Davao Oriental and Governor Nelson Dayanghirang, along with Mayor Joel Mayo Almario, Vice Mayor Enzo Rabat, Vice Governor Niña Marie Gepitulan and Rep. Cheeno Miguel D. Almario were behind the campaign.
Councilman Paolo Rabat stood firmly behind Mati’s athletes as well as local businesses Dahican Surf Resort, Gregorio Beach Resort, Resurrection Beach Resort, Sheepy’s Surfside, Francos Dahican Surf Click, Costa Lucas, Drop-in Mini Mart, Alima Home Café, Goofy Hub Surf Shop, Gulf Coast & Co., Calle Isabelo, Alfagraphics and Maethel Ponce.
The City Sports Development Office and LGU Mati also rallied to power the team’s journey. Adding flair to the delegation’s identity was the official team shirt and graphic artworks designed by Karl John Zsygfrydd Dumadaug Calvez, which showcased Mati pride in bold strokes of creativity.
T he city brimmed with pride after the results came in—Patawi was crowned champion, Mamusog claimed runner-up honors, Aporbo was second runner-up and Bucong earned third runner-up.
By Aldrin Quinto
LIKE a symphony warming up in dissonant bursts, Alas Pilipinas’ opening act resounded with tension. The scattered notes are expected to fall into place in Act Two, and the maestro beckons the home crowd to lend its voice for the chorus.
“Don’t leave us alone against Egypt,” coach Angiolino Frigoni appealed to fans ahead of Alas Pilipinas’ match against African champion Egypt on Tuesday in the FIVB Volleyball Men’s World Championship at the Mall of Asia Arena.
Frigoni admitted playing at home cuts both ways, but it’s the Philippine team’s job to deal with it.
“I am very happy with the supporters here. Maybe on one side, they gave us support. On the other side, they gave the players tension.
“The tension is also coming more from the fact that this is a bigger competition,” Frigoni added.
First serve is at 5:30 p.m.
Alas Pilipinas sputtered through the first two sets against Tunisia, the 11-time African champion, before finally finding its rhythm.
T he Filipinos need to be firing on all cylinders from the get-go against Egypt, the current African volleyball titleholder.
Marck Espejo admitted Alas Pilipinas grappled with nerves and couldn’t find their flow early on, but believes the team is better prepared now that the opener is behind them.
We really should be mentally ready [against Egypt],” Espejo said. “Because physically, skills-wise, everyone seems
equally. It’s really just the mindset on the court, the desire to win.”
Bryan Bagunas showed the way with 23 points on 20 attacks for the Philippines against Tunisia, while Espejo came up with nine points on eight attacks.
Espejo, one of the elders of the team at 28, is determined to do much better. “For me, the mindset is this is a once-in-a-lifetime experience, so I’m really going to do my best as much as possible.”
M iddle blockers
Peng Taguibolos and Kim Malabunga will also be counted on to deliver more after showing flashes of brilliance in the opener.
B uds Buddin and Jade Disquitado, the two young opposite hitters sharing the same position behind Espejo and Bagunas, will also be looking to make an impact.
With Ahmed Shafik, Abdelrahman Elhossiny and Aly Seifeldin Hassan leading the way, Egypt defeated Iran in four sets, taking second spot in the group.
Tunisia seized the early lead with the straight-sets rout of the Philippines.
Iran and Egypt face off in the other Pool A match on Tuesday.
Germany on track
GERMANY bounced back by beating Chile, 25-17, 25-23, 25-21, in Pool E action at the MOA Arena.
ETHAN LAGO and Denise Mendoza launched their attack in the seven to 10 age group and Rafella and Ralph Batican delivered contrasting rounds in the 11 to 14 category at the start Monday of the International Container Terminal Services Inc.’s Negros Occidental Junior Philippine Golf Tour
THE
Coming from an upset loss to Bulgaria on Saturday, the Germans turned to their captain, Forty-year-old Gyorgy Grozer scored 19 points, including 17 kills, as Germany improved to 1-1 after a loss to Bulgaria.
Ger many takes on Slovenia on Wednesday.
Cuba also improved to 1-1, beating Colombia, 25-22, 25-21, 25-20, in Pool D. The world No. 11 Cubans lost in four sets to No. 24 Portugal in the opener.
Championship at tough Marapara. Mactan leg champion Lago was steady with an even par 70 on three birdies and three bogeys with the eightyear-old Ateneo de Davao standout sinking long putts for a commanding nine-shot lead over fellow Davaoeño Lucas Revilleza (79).
like Purdy will provide a boost, but the team must maintain its current level of
“Officers were called by a member of the public to attend Bowlacre Road, Hyde, Tameside, at 6:45 a.m. today where they found the body of a 46-year-old man,” Greater Manchester Police said in a statement. “There are not currently believed to be any suspicious circumstances.” Friends of Hatton were quick to pay tribute Sunday morning. Today we lost not only one of Britain’s greatest boxers, but a friend, a mentor, a warrior, Ricky Hatton,” former world champion, Amir Khan, posted on X.
“Rip to the legend Ricky Hatton may he rip,” former heavyweight champion Tyson Fury said in an Instagram post with photos of the pair together. “There will only ever be 1 Ricky Hatton. can’t believe this so young.” In a poignant post, his brother Matthew Hatton said “I love you Richard” on X along with photos of the brothers.
News of Hatton’s death comes two months after the surprise announcement he would make a return to boxing in December in a professional bout against Eisa Al Dah in Dubai. AP
“I sank some very long putts,” Lago said. “I’m aiming to shoot even par and just keep playing my game.” Cagayan de Oro’s James Rolida carded an 83, Shaqeeq Tanog made an 87, Cebu’s Darren Ong submitted a 95 and Tobias Tiongko shot a 96 as they struggled through hot and humid conditions.
performance and cohesion. If the offense continues to execute effectively and adapt to challenges, the 49ers have the potential to remain competitive throughout the season. The 49ers’ defense has shown significant promise in the early part of the 2025 season, with key players stepping up and making impactful plays.
A s the season progresses, continued development and consistency will be essential for the defense to maintain its effectiveness and support the team’s aspirations for a successful season.
If I were a betting person or front office type, I’d say this 2-0 is encouraging. It’s probably not predictive of perfection, but it shows a team that is built well and coached well, capable of overcoming challenges.
If they stay relatively healthy and clean up some of the consistency issues, they look like real contenders in the National Football
MATI’S finest skimboarders (from left) Rodel Patawi, Vincent Balucanag, Tito Pondoyo, Sonny Boy Aporbo, Ms Joan Patricio, Peter Ocdenaria, Jonilo Catubig, Jovienel Mamusog and (sitting) Kingjhon Bucong. TROI SANTOS
Filipinos need to be firing on all cylinders from the get-go against Egypt, the current African volleyball titleholder. ROY DOMINGO
JAPANESE superstar Ran Takahashi and libero Tomohiro Ogawa are in a deep hole after losing to Canada to go 0-2 won-lost in pool play. NONIE REYES
MANNY PACQUIAO and Ricky Hatton squared off in Las Vegas on May 2, 2009. MSN PHOTO
