ROTARY CLUB OF MANILA JOURNALISM AWARDS
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A broader look at today’s business n
Saturday, June 13, 2026 Vol. 21 No. 242
EJAP JOURNALISM AWARDS
BUSINESS NEWS SOURCE OF THE YEAR
(2017, 2018, 2019, 2020)
DEPARTMENT OF SCIENCE AND TECHNOLOGY
2018 BANTOG MEDIA AWARDS
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Q1 EXTERNAL DEBT UP ON NEW BORROWINGS EXTERNAL LIQUIDITY BUFFER (STRM VS RESERVES)
4.18x
EW borrowings by the National Government and private sector led to a slight uptick in the country’s external debt in the first quarter of the year, according to the Bangko Sentral ng Pilipinas (BSP). Based on the data, the country’s outstanding external debt increased by 0.42 percent to $147.35 billion as of the end of March 2026 compared to the end-March 2025 level of $146.74 billion. External debt refers to borrowings owed by residents to nonresidents. The Central Bank said the growth was driven mainly by new borrowings by the National Government and private sector, reflecting ongoing financing for development priorities and continued support for trade and business activity.
Meanwhile, compared to the previous quarter, the country’s external debt eased by 0.2 percent from the $147.65 billion as of endDecember 2025. BSP said the slight quarteron-quarter decline in external debt was driven by lower non-resident holdings of Philippine debt securities, reflecting more cautious investor sentiment and tighter financing conditions for emerging markets during the quarter. The Central Bank said key debt indicators remained “sound.” For one, it noted that external debt as a share of gross domestic
The Philippines holds $106.64B in reserves against $25.5B in short-term external debt, translating to a 4.18x coverage ratio, indicating a strong near-term external liquidity buffer.
$106.64B
$25.5B
GIR
STRM
product (GDP) improved slightly to 30 percent from 30.3 percent in the previous quarter, despite slower economic growth. Moreover, the BSP said liquidity conditions also strengthened. “Short-term external debt based on the remaining maturity concept (STRM) declined to $25.50 billion, while gross international reserves remained ample at $106.64 billion,” the Central Bank noted.
This, the BSP said, is equivalent to 4.18 times STRM, indicating a “strong capacity” to meet near-term external commitments and robust reserve adequacy position relative to emerging economy peers. STRM debt is composed of loans with original maturities of one year or less plus amortizations on medium- and long-term accounts falling due within the next 12 months.
BM Graphics: Ed Davad/Source: BSP
N
By Andrea E. San Juan
NEWSPAPER OF THE YEAR BusinessMirror EVP-General Manager Loida S. Virtudazo, Publisher T. Anthony C. Cabangon, and Editor in Chief Lourdes M. Fernandez proudly display the National Newspaper of the Year trophy awarded by the Rotary Club of Manila during its Pro Patria Journalism Awards in Makati. The honor marks the sixth Rotary Club journalism award received by the paper. ROY DOMINGO
BusinessMirror named Newspaper of the Year in Rotary Club Pro Patria Journalism Awards
F
OR the sixth time, the Rotary Club of Manila Journalism Awards has recognized the work of BusinessMirror, bestowing on it the National Newspaper of the Year honors as it held its Pro Patria Awards coinciding with its Independence Day celebration. In simple but meaningful rites at Fairmont Hotel in Makati, the RCM Pro Patria Awards also bestowed honors on outstanding individuals and media outlets in broadcasting and digital: Bombo Radyo for Radio Station of the Year; GMA News as TV Station of the Year; Jarius Bondoc as Opinion Writer of the Year; Angelo Palmones as Radio Personality of the Year; Alfonso Tomas “Atom” Araullo as TV Journalist of the Year; and Christian Esguerra of “Facts First” as Online Individual Journalist of the Year. RCM officers, led by club president Raoul Creencia and Pro Patria Awards chairman Amado Valdez, stressed the continuing relevance of efforts to hold up for appreciation the best examples of journalism in the country, at a time, they said, when digital “experts” untrained in the discipline and gatekeeping practices of journalism are quicker to seize the narrative by purveying “fake news” on raging public issues and developments. See “Newspaper,” A2
INFLATION BITES: FREEDOM TO WORK Job fairs were held across Robinsons Malls nationwide in partnership with the Department of Labor and Employment (DOLE) and local Public Employment Service Offices
(PESO), offering employment opportunities in celebration of the 128th Philippine Independence Day. The initiative aims to connect Filipino job seekers with a wide range of employment options, supporting pathways toward financial stability and career development. To improve accessibility and efficiency, participating venues provided dedicated express lanes for fresh graduates and first-time job seekers, enabling faster application processing and easier access to potential employers as they begin their careers. (Top, right) Meanwhile, in Pasig City, Mayor Victor Ma. Regis “Vico” N. Sotto delivers a message during the SM Kalayaan Job Fair at SM City East Ortigas, held in line with Independence Day celebrations and alongside the “Batang Malaya” campaign, which advocates for a childlabor-free Philippines. ROY DOMINGO & VINCENT PETER RIVERA
Financially resilient households plunge from 33% to 19% By Reine Juvierre S. Alberto
H Superyacht industry opens global career opportunities for Filipinos By Carmel Pedroza
C
EBU CITY—As the global superyacht industry expands and luxury yacht owners increasingly seek highly trained crew, a growing number of Filipinos are finding opportunities in one of the world’s most exclusive maritime sectors. Capt. Jead Advincula, founder and the president and CEO of Superyacht Academy in Asia and the Pacific Corp. (SAAP Corp.), revealed that the superyacht sector continues to experience sustained growth as more luxury yachts are commissioned and charter operations expand worldwide. “A superyacht career is a career working onboard luxury yachts that operate in different parts of
LUXURY superyacht M/Y Eclipse cruising off Ibiza, Spain, reflects the expanding global yacht industry, opening more opportunities for trained Filipino crew in luxury maritime careers. RICARDO PILGUJ | DREAMSTIME.COM
the world. These yachts can be 24 meters and above, and they need trained crew for deck work, hospitality, engineering, waters-
ports, and daily yacht operations,” Advincula explained. “For many Filipinos, this is another good international career
pathway. We are already known worldwide for our hospitality, hard work, and professionalism, and those qualities are very important in the superyacht industry,” he told the BusinessMirror. According to Global Market Insights, it is estimated that the global yacht market is valued in the tens of billions of dollars and is projected to continue growing over the coming years, creating increased demand for qualified crew. (https://www.gminsights.com/ industry-analysis/yacht-market) Based on a separate industry salary guide, entry-level deckhands and stewards can earn competitive tax-efficient salaries while benefiting from accommodation and meals provided onboard, See “Superyacht,” A2
IGHLY financially resilient Filipino households fell to 19 percent this year from 33 percent a year ago, as inflation continued to strain budgets and erode financial buffers, according to a study by Sun Life Philippines. In its Financial Resilience Index 2026, the insurance giant found that fewer Filipinos feel secure about their financial situation. Only 7 percent described themselves as very financially secure, down sharply from 20 percent in 2025. Likewise, the share of households that felt strongly positioned to withstand financial disruptions dropped to 36 percent from 66 percent. Among the approximately 6,000 respondents, 95 percent pointed to inflation as the main culprit, making it harder for them to cover monthly expenses. As a result, managing day-today expenses has become the top financial priority for 54 percent of
7%
Only 7% of Filipino respondents in the Sun Life Financial Resilience Index 2026 described themselves as very financially secure, a steep decline from 20% in 2025, underscoring a significant erosion in top-tier financial confidence amid sustained inflation and rising household costs.
Filipinos over the next 12 months, overtaking saving, investing and other long-term financial goals. Essential expenses are driving the financial squeeze, with nearly all respondents reporting higher costs for utilities, transportation fuel, groceries, cooking fuel and healthcare. Food expenses were cited by 83 percent as the area where spending increased the most over the past six months, followed by transportation at 74 percent and utilities at 59 percent. See “Inflation,” A2
PESO EXCHANGE RATES n US 61.4970 n JAPAN 0.3831 n UK 82.2461 n HK 7.8478 n CHINA 9.0787 n SINGAPORE 47.7832 n AUSTRALIA 43.0233 n EU 70.9429 n KOREA 0.0404 n SAUDI ARABIA 16.3839 Source: BSP (June 11, 2026)