Peso bonds now in JP Morgan Govt Bond Index
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IRAN SEIZES SHIPS IN STRAIT OF HORMUZ AS US MAINTAINS BLOCKADE; GLOBAL OIL PRICES SURGE
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HILIPPINE peso-denominated government bonds will now be included in the widely-tracked JP Morgan Government Bond Index - Emerging Markets (GBI-EMI), broadening the investor base and supporting liquidity in the market. National Treasurer Sharon P. Almanza told the BusinessMirror that the Philippines will have a weight of 1.78 percent in the index. This increased from the 1-percent weight initially announced by the mega lender when it placed the Philippines in its “positive watchlist due to the inclusion of two retail treasury bonds as eligible
bonds,” Almanza said. Inclusion may increase interest in a country’s bonds as the index is used by fund managers and other investors as a guide or benchmark for their investments. A Bloomberg report indicated that the government bonds will be added to the index on January 29, 2027, until they reach a weighting of 1.78 percent. This gradual inclusion will lessen the risks of near-term implementation for benchmarked investors, given current market conditions, it said. “This milestone is a strong acknowledgement from the interna-
tional financial community of the positive developments in the Philippine financial and capital markets,” the Department of Finance, Bureau of the Treasury and Bangko Sentral ng Pilipinas (BSP) said in a joint statement on Thursday. The country was able to secure its inclusion by implementing improvements in the liquidity of government bonds, development of the interest rate swap market and strengthening of the repo market. The application of treaty rules was also clarified and simplified. Finance Secretary Frederick D. Go said the bond inclusion reflects a “strong vote of confidence” in the
country’s solid fundamentals and fiscal discipline. “This milestone will broaden our investor base, improve market liquidity, and help lower borrowing costs,” he added. BSP Governor Eli M. Remolona Jr. said this is a major step in deepening the Philippine capital markets, with significant benefits to the government, to domestic and global investors, and to local banks and businesses. “As bonds gain more liquidity, this will help the BSP transmit monetary policy, benefiting borrowers and investors across the See “Peso,” A2
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Friday, April 24, 2026 Vol. 21 No. 192
P25.00 nationwide | 2 sections 22 pages | 7 DAYS A WEEK
By Reine Juvierre S. Alberto
ORE rate hikes may be on the horizon as the Bangko Sentral ng Pilipinas (BSP) braces for higher inflation due to the ongoing war in the Middle East, which is expected to make oil and food commodities more expensive. “Once we start raising the policy rate, we’re likely to raise it again. That’s a better strategy than raising
it just one time and making a big hike instead of a small hike,” BSP See “Price,” A2
PEZA PUSHES ‘FRICTION-FREE’ EXPANSION IN TRADE LANES By Bless Aubrey Ogerio
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@blessogerio
ECENT policy changes removing electronic cargo tracking requirements for qualified exporters are aimed at reducing “friction” in supply chains and improving the country’s trade competitiveness, the Philippine Economic Zone Authority (Peza) said. This follows the Bureau of Customs (BOC) decision to exempt eligible exporters from the Electronic Tracking of Containerized Cargo (E-TRACC) system,
which requires GPS-enabled electronic seals on containers to monitor cargo movement. Under Customs Memorandum Order 04-2026, the exemption applies to exporters registered with investment promotion agencies, such as Peza, particularly those classified as Authorized Economic Operators (AEOs) with Level 1 benefits. “We are effectively rolling out the red carpet for our investors. This is the brand of service we’ve promised since day one—no red tape, only red-carpet treatment,” See “Peza,” A2
FUEL CRISIS SPARKS ELECTRIC SHIFT Electric vehicles line up at a charging station in Parañaque City as the government ramps up support for cleaner transport alternatives. Amid renewed volatility in global oil prices linked to ongoing tensions in the Middle East, the national government, through the Department of Trade and Industry’s Small Business Corporation (DTI-SBCorp), has rolled out a P2-billion E-Transport Loan Program to help small transport operators shift to electric vehicles, reduce fuel dependence, and stabilize operating costs. NONIE REYES
Cebu governor: We’re ready for Asean Summit By Carmel Pedroza
C TONDO RISING Department of Human Settlements and Urban Development (DHSUD) Secretary Ramon Aliling, Pag-IBIG Fund CEO Marilen Acosta, and Social Housing Finance Corp. (SHFC) President and CEO Federico Laxa lead the topping-off ceremony for the first five residential towers of Port Town in Tondo, Manila, on Tuesday. Part of the Expanded Pambansang Pabahay Para sa Pilipino (4PH) program, the 16-story buildings mark the initial phase of a master-planned social housing township that aims to deliver 2,159 housing units and support the long-term revitalization of the North Harbor community. Also present are Kaerland Development Corp. President Juan Paolo Canlas, Port Town Project Manager Jenelizza Rebong, and DHSUD Senior Undersecretary Eduardo Robles Jr. Related story in A5 Nation, “SHFC grants over P14 million housing aid to Quezon, Cagayan communities.” NONIE REYES
EBU CITY—Cebu Governor Pamela Baricuatro declared the province is ready to host the upcoming Asean Summit 2026, with security, infrastructure, and contingency measures largely in place ahead of the high-level gathering. “As far as security is concerned, 80 percent complete [already] with enhanced measures, disaster response systems, and hospitals’ code blue readiness in place. It’s safe to say that in Cebu, we are ready,” Baricuatro said during a preparations briefing at the Cebu Provincial Capitol on Thursday, April 23, 2026. While the summit is a national event, Cebu is fully supporting and augmenting the groundwork, she added. The summit, expected to bring in 11 heads of state and an estimated 2,000 media delegates, will be centered in Lapu-Lapu City, particularly in the Mactan and Punta Engaño areas. Billeting hotels include Shangri-La Mactan, Dusit Thani Mactan Cebu, and Crimson Resort
and Spa Mactan, while key events will be held at the Mactan Expo Center. Lapu-Lapu City Disaster Risk Reduction and Management Office head Nagiel Bañacia said preparations have been ongoing since December 2025 in the city, including extensive information campaigns and safety drills for residents. “We have been preparing for this event since December 2025 . . . There will be inconveniences during the Summit, but we made sure that everybody understood their role,” Bañacia said, noting that road closures will only occur temporarily during convoy movements. Areas such as Punta Engaño are expected to be most affected. He added that daily fire preparedness training has been conducted since January, with authorities ensuring the city remains safe and incident-free throughout the event. Cebu City Mayor Nestor Archival gave assurances that the city is prepared for traffic and security concerns, with no major road closures planned unless advised by police. Delegations are expected to pass through
the Cebu-Cordova Link Expressway and the South Road Properties en route to summit venues. Archival said cleanup operations are underway in coastal barangays, including Pasil. They have also prepared the same itinerary in case the delegates would like to have the culture and heritage tour, like last January during the Asean Tourism Forum here. Meanwhile, Mandaue City Mayor Jonas Cortes Ouano said the city is in the “final stretch” of preparations as a key transit route. Infrastructure upgrades led by the Department of Public Works and Highways (DPWH) include lighting improvements along UN Avenue and solar installations, all targeted for completion before April 27. Safety measures are also being implemented in areas such as the Bayanihan Village, where modular shelters have been fenced off and repainted as part of the city’s beautification drive. DPWH officials, led by regional director Simon Arias, emphasized ongoing cleanup operations in Pasil, urging the public to practice
discipline in waste disposal to prevent flooding and environmental issues. Baricuatro also urged Cebuanos to keep the surroundings clean, as hosting this big event also brings pride to the province. The Department of Health, according to Baricuatro, will enforce a “code blue” alert across hospitals during the summit, ensuring readiness for any medical emergencies. Environmental concerns were also raised by the Department of Environment and Natural Resources, particularly regarding haze and air quality in parts of Cebu. However, officials noted that conditions in Lapu-Lapu City are less concerning due to better air circulation. Despite logistical challenges and some scaled-down activities due to austerity measures, organizers confirmed that all hotels in Mandaue and Lapu-Lapu are fully booked, reflecting the scale of the event. The national organizing committee is scheduled to arrive on April 30 for final inspections, as Cebu braces to host one of the region’s most significant diplomatic gatherings.
PESO EXCHANGE RATES n US 60.1050 n JAPAN 0.3770 n UK 81.1898 n HK 7.6738 n CHINA 8.8017 n SINGAPORE 47.1338 n AUSTRALIA 43.0292 n EU 70.3769 n KOREA 0.0406 n SAUDI ARABIA 16.0263 Source: BSP (April 23, 2026)