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Wednesday, August 5, 2026 Vol. 21 No. 295
EJAP JOURNALISM AWARDS
BUSINESS NEWS SOURCE OF THE YEAR
(2017, 2018, 2019, 2020, 2021) DEPARTMENT OF SCIENCE AND TECHNOLOGY
2018 BANTOG MEDIA AWARDS
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FOR DESTINY
A HISTORIC RUN
Five elite opponents. One unforgettable champion.
FROM RAIN TO REIGN The photos capture the emotion, resilience and unwavering support that defined Alex Eala’s
unforgettable championship run at the Mubadala DC Open—from battling through a rain-delayed final and delivering clutch shots on court to the sea of Filipino fans who stood behind her every step of the way. Eala completed a stunning comeback against World No. 3 Jessica Pegula to capture her maiden WTA Tour singles title, becoming the first Filipina to win a WTA singles crown. The gallery also offers a glimpse into the atmosphere in Washington, where hours of rain on Sunday—forcing a halt to the play and postponement to Monday—only heightened the drama before Eala delivered the biggest victory of her career on Monday, capping a remarkable week against some of the world’s top players. The historic triumph has propelled the 21-year-old Filipina to a career-high World No. 20 in the latest WTA rankings, making her the first Filipina ever to break into the WTA Top 20 and further cementing her place among the sport’s elite. PHOTOS BY TROI SANTOS
Round
Opponent
Status
Round of 32
Zheng Qinwen
Olympic champion (Paris 2024); former Top 10
Round of 16
Leylah Fernandez
2021 US Open finalist; defending DC Open champion
Quarterfinals
Elina Svitolina
World No. 9
Semifinals
Naomi Osaka
Final
Jessica Pegula
Four-time Grand Slam singles champion; World No. 13 World No. 3
4-MO-HIGH HOT MONEY, BUT VOLATILITY SEEN T
By Andrea E. San Juan @andreasanjuan
HE movement of money into and out of the Philippine financial markets is likely to remain volatile as markets continue to assess the implications of the Middle East conflict, trade uncertainties, and commodity price movements. Analysts said this even after hot money inflows, or short-term portfolio investments that entered the country reached $2.94 billion in June 2026—the highest in four months or since February 2026. Latest data from the Bangko Sentral ng Pilipinas (BSP) showed net inflows reached $170 million in June 2026 as total inflows surged by 51.55 percent to $2.94 billion from the $1.94 billion in the same month a year ago. However, short-term foreign capital which exited the country in June also jumped significantly by 44.27 percent to $2.77 billion from the $1.92 billion in the same period last year. Ruben Carlo O. Asuncion, chief economist at Union Bank of the Philippines (UBP), said the June 2026 portfolio investment data suggest that foreign investors “remain engaged” in Philippine financial markets despite a “challenging global backdrop.” “Gross inflows reached US$2.94 billion, the highest level in four months, while net inflows stayed positive at US$170 million for a second straight month, indicating that foreign investors were still adding to Philippine positions on balance,” Asuncion said.
At the same time, he said the sharp increase in both inflows and outflows points to “heightened investor activity rather than an outright shift in sentiment.” “In our view, this reflects a combination of fresh investment places, portfolio rebalancing, and profittaking amid evolving expectations on global interest rates, geopolitical developments, and broader market conditions,” the chief economist of Union Bank explained further. Still, Asuncion said the fourmonth high in gross inflows is encouraging because it suggests that Philippine financial assets continue to attract foreign investor interest. However, he pointed out that the “equally strong rise” in outflows indicates that investors remain “selective and sensitive” to external developments. “As such, we would characterize current sentiment as cautiously constructive rather than outright bullish,” Asuncion warned.
Month-on-month
ON a month-on-month basis, however, the $170-million hot money net inflows in June was 26.72 percent lower than the $232 million recorded in the previous month. See “Hot money,” A2
HISTORY ON HOLD NO MORE: ALEX EALA WINS DC OPEN TITLE By Troi Santos
O
N Sunday, April 2, I debated whether to drive or take the train. In the end, I chose the train, convinced that if Alex won, I can celebrate with a couple of drinks and I don’t have to worry about driving back to New York. I arrived at 11a.m. and headed straight to the stadium to claim my place in the photo pit. By noon, the first raindrops had begun to fall, and the match was suspended for hours. During the delay, I moved through the stadium speaking with Filipino fans—families,
children, even children’s fiancés—and it felt like home had been carried far from home. The Filipino contingent was there in full voice, and some remained in the rain until officials finally cleared the venue as thunderstorms rolled through Rock Creek Park. During the delay, fans from every corner of the world gathered outside the players’ area entrance as Alex and Jesse slipped toward the stadium, while the videographers staged a burst of cheering to draw attention away from the side exit. See “Alex Eala,” A2
DBM hopes for early ruling on budget UAs By Reine Juvierre S. Alberto
T
@reine_alberto
HE contested unprogrammed appropriations (UAs) in the national budget could be scaled back or even abolished by the Supreme Court, potentially forcing changes to next year’s spending plan, as the Department of Budget and Management (DBM) awaits the ruling in the coming weeks and budget deliberation looms. On the sidelines of the World Bank’s launch of the Philippine Economic Update, Budget Assistant Secretary Romeo Matthew T.
Balanquit told reporters that the ruling on the constitutionality of UAs could have implications for the 2027 national budget. “[UAs] could be removed or limited,” Balanquit said in the vernacular. “But what would most likely happen is they will just limit it to the percentage of the budget, which is about 2 percent.” UAs are standby spending authorities approved by Congress that may only be used if specific legal conditions are met, such as the availability of additional revenues beyond projections or the realization of new loan proceeds. See “DBM,” A2
AI can boost 16% of jobs–WB report By Justine Xyrah Garcia
A
RTIFICIAL intelligence (AI) could improve the productivity of more workers than it replaces in developing economies like the Philippines, according to the World Bank. In its World Development Report 2026: The Promise of Artificial Intelligence, the lender estimated that 16.2 percent of jobs in low- and middle-income economies could receive a meaningful productivity boost from AI. This compares with 4.5 percent of jobs that are susceptible to automation by generative AI.
By comparison, 18.7 percent of jobs in high-income economies could benefit from AI, while 14.2 percent are exposed to automation. The World Bank said the findings suggest that AI’s biggest opportunity for developing economies lies in helping workers become more productive rather than replacing them outright. “AI has thrown developing economies a lifeline, and they should seize it,” World Bank Chief Economist Indermit Gill said. The report said businesses are already using AI to analyze information, improve forecasts and in-
crease productivity, while governments are applying the technology to strengthen tax administration, social protection, disaster response, health care and education.
Mixed impact in PHL
IN the Philippines, the World Bank pointed to the business process outsourcing (BPO) industry as an example of how AI could both support workers and threaten existing jobs. The report cited a Philippine call-center employee who uses an AI tool that listens to customer conversations and suggests possible responses.
The technology can reduce the time spent searching for information, although it may also generate unsuitable recommendations that require the worker to exercise judgment. The lender said the BPO sector has been an important source of employment in the Philippines, with about 1.3 million workers. However, the development of more capable voice-based AI agents has raised concerns over whether firms abroad would continue to require the same number of human customer-service workers. See “AI,” A2
PESO EXCHANGE RATES n US 60.9780 n JAPAN 0.3879 n UK 81.9178 n HK 7.7765 n CHINA 9.0258 n SINGAPORE 47.5684 n AUSTRALIA 42.6785 n EU 70.2040 n KOREA 0.0427 n SAUDI ARABIA 16.2378 Source: BSP (August 4, 2026)