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A broader look at today’s business

Thursday, August 20, 2026 Vol. 21 No. 310

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WHEN LIFE GIVES YOU FLOODS... Life goes on in Malabon as vendors and workers carry on with their daily tasks along a flooded street brought about by southwest monsoon, or “Habagat,” rains on Wednesday, August 19, 2026. In Quezon City, government workers wade through floodwaters to collect trash and clear waterways, while personnel from the Metropolitan Manila Development Authority (MMDA) and the Department of Public Works and Highways (DPWH) deploy a mobile pump along the San Juan River on E. Rodriguez Avenue to help drain floodwaters from affected communities. The efforts underscore the continuing struggle of residents and government workers alike as persistent rains disrupt daily life and intensify flooding in vulnerable areas. NONIE REYES (MALABON) & NONOY LACZA (QUEZON CITY)

RATE HIKE MAY BE ‘GOOD DEFENSE’ FOR PHL PESO

By Andrea E. San Juan @andreasanjuan

QUARTER-POINT hike at the Monetary Board’s rate-setting meeting next week could be a “good defense” for the local currency against a strong US dollar. Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co., said on Wednesday that the dollar is stronger today for two reasons: “First, investors are positioning ahead of the Fed minutes, hoping for guidance on the interest rate outlook.” Second, the foreign exchange analyst said: “Lingering geopolitical uncertainty in the Middle East is encouraging a flight to safety.” In uncertain times, the US dollar remains “the world’s preferred

safe-haven currency,” he explained further. As such, Ravelas said, a “25bps hike next week could be a good defense.” Explaining this further, he said that raising interest rates “tends to boost local assets, thus attracting foreign funds to invest here.” Ravelas said he also expects the central bank to raise the key interest rate next week as inflation remains elevated. See “Peso,” A2

AI BOOM LIFTS APAC TRADE, BUT MOODY’S SEES RISKS By Bless Aubrey Ogerio

HE artificial intelligence (AI) boom is translating into stronger manufacturing and export activity across Asia-Pacific, giving chipproducing economies a lift even as the broader global economy slows, Moody’s Analytics said. In its latest Global Outlook, Moody’s said the AI investment cycle has become a key reason the world economy has avoided a sharper slowdown, as demand for chips, power and computing infrastructure continues to drive capital spending. “A steady stream of new AI models has pulled fresh capital

into chips, power, and computing, driving stock prices skyward and sparking a global capital expenditure spree,” Moody’s said. The impact, however, is uneven across economies. While gross domestic product (GDP) gains are harder to capture in countries that import much of the hardware used in data centers, Asia-Pacific economies that manufacture semiconductors and other computing equipment are seeing the boom feed more directly into production and exports, the analytics firm said. The Philippines is positioned See “Trade,” A2

Value of construction jumps 22%, hits ₧74B in June By Justine Xyrah Garcia

HE value of approved construction projects in the Philippines jumped by more than a fifth in June, driven by a sharp increase in non-residential building activity, according to the Philippine Statistics Authority (PSA). Latest PSA data showed the value of construction based on approved building permits reached P74.34 billion during the month, 22 percent higher than the P60.94 billion recorded in June 2025.

Non-residential buildings accounted for the bulk of the construction value at P43.80 billion, or 58.9 percent of the total. This was 56.4 percent higher than the P28.01 billion worth of non-residential projects approved a year earlier. Industrial buildings accounted for the largest share at P19.40 billion, or 44.3 percent of the nonresidential total. In contrast, the value of residential construction fell by 25.8 percent to P20.24 billion from P27.29 billion in June last year. Residen-

tial projects accounted for 27.2 percent of the total construction value. Single houses comprised the largest portion of residential construction value at P13.04 billion, equivalent to 64.4 percent of the residential total. The value of alterations and repairs to existing structures more than doubled to P8.82 billion, posting an annual increase of 111.7 percent. Additions also rose by 18.9 percent to P728.84 million. Other constructions, which in-

clude demolition, street furniture, landscaping and signboards, declined by 12.8 percent to P750.43 million. The higher value of approved projects came even as the number of constructions slipped by 0.3 percent to 17,081 from 17,126 a year earlier. The decline, however, was slower than the 6.5 percent contraction recorded in May. Residential buildings continued to account for the majority of approved constructions at 11,392, or 66.7 percent of the total, despite See “Construction,” A2

Foreign holdings of govt securities up 32% By Reine Juvierre S. Alberto

@reine_alberto

OREIGN holdings of Philippine government securities jumped in 2025, as investors were drawn to relatively higher yields and improving macroeconomic conditions. Total foreign holdings rose by 32.13 percent to P600.03 billion by the end of 2025 from P454.12 billion in end-2024, according to data from the Bureau of the Treasury (BTr). The share of foreign holders of government securities to total holdings also grew to 5 percent from 4.2 percent in 2024, a steady upward trend from 2.10 percent in 2023.

“Philippine government bonds offered investors relatively high returns while maintaining investment-grade credit quality, making them an attractive destination amid improving global risk sentiment and renewed interest in emerging-market debt,” said Ruben Carlo O. Asuncion, chief economist at Union Bank of the Philippines, to BusinessMirror. Investors were attracted by higher yields, the possibility that the Bangko Sentral ng Pilipinas would reduce interest rates, lower inflation and sustained confidence in the country’s macroeconomic fundamentals, Asuncion said. See “Holdings,” A2

NO RAIN DELAY FOR PHLPOST

Despite heavy rains and flooding in parts of the country, the Philippine Postal Corporation (PHLPost) continues to provide essential postal and communication services. Postal frontliners remain on duty, delivering mail, parcels, government communications, Postal IDs and other important documents while observing necessary safety measures. As of August 19, 2026, post offices in the National Capital Region, Abra, Benguet, Ilocos Sur, La Union, Pangasinan, Bataan, Bulacan, Nueva Ecija, Pampanga, Tarlac, Zambales, Batangas, Cavite, Laguna, Rizal, Occidental Mindoro and Oriental Mindoro remain open and operational. PHLPost said temporary service adjustments may be implemented in areas affected by flooding, impassable roads, transportation disruptions or other hazardous conditions. The agency continues to monitor local conditions and coordinate with field offices to maintain service continuity when safe. PHLPOST PHOTO

PESO EXCHANGE RATES n US 61.6550 n JAPAN 0.3863 n UK 83.4685 n HK 7.8610 n CHINA 9.1403 n SINGAPORE 48.2434 n AUSTRALIA 43.6579 n EU 71.3780 n KOREA 0.0437 n SAUDI ARABIA 16.4221 Source: BSP (August 19, 2026)

News

BusinessMirror

A2 Thursday, August 20, 2026

Value of construction jumps 22%… Continued from A1

declining by 2.1 percent year on year. Of the residential projects approved during the month, 9,272 or 81.4 percent were single houses. Meanwhile, the number of nonresidential constructions increased by 4.6 percent to 3,352, accounting for 19.6 percent of the total. Commercial buildings comprised the majority of these projects at 2,243. PSA said total approved floor area also declined by 11.1 percent to 4.21 million square meters from 4.74 million square meters a year earlier. Non-residential floor area expanded by 11.2 percent to 2.52 million square meters, while residential floor area contracted by 32.2 percent to 1.64 million square meters. The average construction cost consequently rose by 31.1 percent to P15,365.21 per square meter from P11,723.71 per square meter in June 2025. The PSA noted that the average construction cost excludes alteration and repair activities, as well as certain non-residential projects without reported floor areas. According to the agency, construction statistics derived from approved building permits provide an indication of the level of building activity nationwide, including the number, type, and value of projects approved each month.

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DOH repeats guidance vs lepto as rains spawn floods

By Claudeth Mocon-Ciriaco

HE Department of Health (DOH) on Wednesday reported a total of 3,440 leptospirosis cases in the country, much lower than the total in the same period in 2025, despite fears of a surge in incidence as serial typhoons and nonstop rains triggered by the southwest monsoon have forced many people to wade in floods. According to the DOH, the total number recorded as of August 8, 2026, is 35 percent lower compared to the 5,318 cases recorded during the same period last year. However, the DOH said that there was a slight increase in cases from July 12 to 25, where 348 cases were reported, which is 27 percent higher compared to June 28 to July 11, 2026

(275 cases). The Department reminded the public once again to avoid wading in floodwaters, especially if a person has wounds or scratches on skin. “If unavoidable, wear boots and immediately wash your hands and body using soap and clean water,” the DOH said. Even without symptoms, if one has

AI boom lifts APAC trade… Continued from A1

waded in floodwaters or been exposed to mud, the DOH said that one should immediately consult the nearest health center or doctor within 24 to 48 hours to assess the risk level and receive appropriate treatment or prophylaxis.

“Meanwhile, if you are experiencing fever, headache, chills, back or leg pain, or redness of the eyes, immediately consult the Leptospirosis Fast Lanes of DOH hospitals or the nearest health facility,” the DOH said.

within this regional supply chain, with the local semiconductor and electronics industry expecting continued growth as demand for AI-related hardware expands. Recently, Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI) President Dan Lachica said the industry now expects 10-percent growth in 2026, after initially projecting flat growth. The sector grew 16 percent in 2025. Also, SEIPI has proposed that Pax Silica, the planned semiconductor-focused industrial hub under the Luzon Economic Corridor, serve as a manufacturing anchor that brings together advanced manufacturing, research and development, logistics, digital infrastructure and supporting industries. The proposal would seek to expand the country’s role beyond its traditional concentration in semiconductor assembly and testing. On the other hand, the Philippines is also covered by a 12.5-percent US tariff rate for economies with trade agreements with Washington, while semiconductors and other products are

among the exemptions under the US tariff regime. The carve-outs are particularly relevant to technology exporters because they limit the impact of tariffs on semiconductor shipments. Elsewhere in Asia, Taiwan, the world’s leading producer of advanced chips, grew by nearly 9 percent in 2025 and is expected to post double-digit growth this year, Moody’s said. The strong performance reflects the scale of the AI-driven investment cycle, but Moody’s warned that the boom may not continue at its current pace. Stretched equity valuations, supply constraints and uncertainty over the longer-term profitability of AI-related investments could lead to a pause, it said. “With the AI boom papering over the strain from higher inflation and tight policy, the risks facing the baseline forecast tilt firmly to the downside. Geopolitics tops the list,” Moody’s said. It expects global GDP growth of 2.5 percent in 2026 and 2.8 percent in 2027, below the more than 3-percent pace the global economy could sustain.

Peso…

Continued from A1

For Bank of the Philippine Islands (BPI) Lead Economist Emilio S. Neri Jr., a rate hike “is not a guaranteed ‘help.’ Higher rates may attract foreign money to place funds in the PHL, especially from investors that earn lower interest in their home country.” Meanwhile, John Paolo Rivera, Senior Research Fellow at Philippine Institute for Development Studies (PIDS) told the BusinessMirror that a rate hike can help stabilize the peso at the margin. “But monetary policy should ultimately be driven by inflation and the broader economy, not by defending 62,” Rivera pointed out. On Wednesday, the Philippine peso closed at P61.815 against the dollar, data from the Bankers Association of the Philippines (BAP) showed. This marked the fifth straight trading day of the peso’s losing streak against the dollar due to higher oil prices and geopolitical uncertainty. The rate is 3 centavos weaker than its previous finish of 61.785 on Tuesday. Rivera attributed the further weakening of the local currency to “mainly” external factors, including higher oil prices, geopolitical uncertainty, and “cautious sentiment toward emerging-market currencies.” Within the trading session, the peso hit its weakest intraday level of 61.995. Its strongest level within the trading day, however, was seen at 61.73 against the greenback. According to Rivera, some dollar selling and profit-taking likely helped the peso recover from its weakest intraday level. “Market participants may also have viewed levels near 62 as an opportunity to take positions,” Rivera told this newspaper. Michael L. Ricafort, chief economist at Rizal Commercial Banking Corporation (RCBC), attributed the weakening of the local currency to the global oil prices lingering at near three-week highs. According to Ricafort, Brent crude oil price was steady at US$91 per barrel, the highest in three weeks or since July 30,2026. Moving forward, Rivera expects the peso to remain “volatile” in the near term but noted that much will depend on oil prices, global risk sentiment, and US monetary policy. “Key issue is not a specific level, but whether the movement remains orderly and whether sustained weakness begins to add materially to inflation.” added Rivera.

Teachers… Continued from A9

Holdings… Continued from A1

Demand for short-term securities remained strong as this was further supported by uncertainties in the global market in the first half of the year and investors sought lower-risk instruments. Aggregate trading volume of government securities also hit P12.7 trillion as of end-2025, an 80 percent increase from P7.052 trillion in the previous year, enhancing price discovery and liquidity. “BTr aims to steadily increase the share of foreign holders in government securities as part of its ongoing efforts to enhance foreign investor participation,” the Treasury said. Last year, the national government raised P191.965 billion through its issuance of global bonds. The Republic launched a landmark multicurrency deal including a $1.25-billion 10-year tranche, a $1-billion 25-year ESG tranche and its first-ever €1- billion sustainability-themed security in the Euro market. About 68.42 percent of the government’s outstanding debt is sourced from the domestic market, while 31.6 percent has been

sourced externally as of end-2025. Majority of the government’s debt is in Philippines pesos (67.78 percent), followed by US dollars (25.81 percent), Euro (3.21 percent), Japanese Yen (2.99 percent), Chinese Yuan (0.05 percent) and other currencies (0.15 percent). The weighted average interest rate for the entire foreign debt is 4.33 percent, while domestic debt is 5.73 percent as of end-2025, Treasury data showed. The government follows the Medium-Term Debt Strategy (MTDS), which prioritizes domestic funding to mitigate foreign exchange risks while targeting concessional loans and US dollar-denominated debt. It also aims for a mix of at least 75 percent domestic and 25 percent external financing. All MTDS risk indicators remain within targets, with the average time to maturity for the total debt portfolio at 7.41 years against the seven- to 10-year target as of end-2025. Approximately 90.38 percent of the total debt is fixed-rate, while the average time to re-fixing of outstanding debt is 6.10 years due to limited issuance volume of tenors at the long end of the curve as of end-2025, Treasury data showed.

involving students since classes opened this year. In July, the Senate was told that at least 15 cases of school-related violence and threats had been recorded over a three-week period beginning June 16, leaving at least three students dead and 32 others wounded. The deadliest was the June 22 shooting at San Jose National High School in Tacloban City, where two students aged 14 and 15 opened fire on schoolmates, killing three and injuring at least 20. Police said the suspects claimed during initial questioning that they had been bullied, although authorities continued to investigate the motive. Days earlier, seven Grade 5 pupils at Bethel Academy in General Trias, Cavite were injured after allegedly being attacked by a Grade 8 student armed with a kitchen knife, while a separate stabbing at Cavite National High School left a senior high school student wounded. A Grade 8 student in Bacolod City was stabbed, allegedly by a Grade 7 student, outside Sumag National High School on June 29. On July 1, a Grade 11 student at Cabaluay National High School in Zamboanga City stabbed and wounded two classmates whom he allegedly accused of bullying him. On July 31, a 13-yearold student was stabbed and killed by a 14-year-old classmate inside Las Piñas National High School following an argument that police said stemmed from P10 in unreturned change.

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Thursday, August 20, 2026

It’s Neneng’s turn to batter Luzon, Visayas

By Jonathan L. Mayuga

@jonlmayuga

FTER tropical storms Luis and Maymay, it’s now Tropical Depression Neneng and the prevailing enhanced southwest monsoon that threaten Luzon and the Visayas, possibly further worsening the flood situation in low-lying areas including Metro Manila, the weather bureau warned.

past few days has drenched Luzon, affecting over five million people. It must be emphasized that heavy rainfall and severe winds may still be experienced in localities outside the landfall point and the forecast confidence cone, Pagasa said. Furthermore, the track may still shift within the limit of the forecast confidence cone, it added. Neneng has maintained its strength as its moves northwestward over the sea, east of Southern Taiwan, where it is expected to make landfall by Thursday afternoon or evening. Pagasa added that Neneng will remain a tropical depression in the next 36 hours before weakening into a remnant low over or near Taiwan on Friday morning. Ne ne n g w a s s p ot te d 53 0 km East-Northeast of Itbayat, Batanes, packing maximum sustained winds of 55 kilometers per hour and gustiness of up to 70 kph.

It is moving northwestward at 30 kph. Before Neneng entered the Philippine Area of Responsibility (PAR), tropical cyclones Luis, Maymay and the southwest monsoon battered Luzon with moderate to heavy rains. The National Disaster Risk Reduction and Management Council (NDRRMC) said the inclement weather triggered landslides and severe flooding, killing 27 people as of 6 a.m. on Wednesday. The NDRRMC said some 1.5 million families or 5.39 million persons were affected. According to the NDRRMC, 42,203 people are being provided with food and medicine inside 461 evacuation centers. The persistent rain that flooded communities damaged a total of 1,993 houses. The NDRRMC said damage to public and private infrastructure has now reached P3.5 billion while

damage to agriculture is pegged at P1.4 billion. The government continues to assist affected families and has spent P797 million over the past few days.

Ciac springs into action

THE Clark International Airport Corp. (Ciac) has extended assistance to families affected by flooding in Pampanga through the turnover of 250 ChariTimba food packs to the Social Action Center of Pampanga, Inc. (Sacop) on Tuesday. Each ChariTimba package contains essential food items, including rice, canned goods, noodles, coffee, and other ready-to-eat provisions. The assistance is being coursed through Sacop, the social service arm of the Archdiocese of San Fer n a ndo, Pa mpa nga , wh ic h works with communities by providing basic services and humanitarian assistance to poor and marginalized sectors. Sacop also mobilizes resources

and coordinates assistance for communities affected by emergencies and other difficult circumstances. For Ciac, the initiative forms part of its continuing efforts to extend support to communities within and around the Clark area, particularly during periods when families face immediate and pressing needs brought about by calamities. “Through this assistance, Ciac hopes to contribute to the immediate needs of families affected by the flooding and support the ongoing relief efforts of organizations working directly with affected communities,” the corporation said. The ChariTimba is a charity food package distributed under the Corporate Social Responsibility Program of the Philippine Charity Sweepstakes Office (PCSO). PCSO has distributed ChariTimba food packs to marginalized sectors and communities affected by calamities as part of its social responsibility initiatives.

In its weather advisory issued at 11 a.m. on Wednesday, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) said the southwest monsoon will bring strong to gale-force gusts on Wednesday and Thursday in most of Luzon

and Visayas, Zamboanga Peninsula, Northern Mindanao, and Davao Region. On Friday, monsoon rains will affect most of Luzon, Panay Island, Negros Occidental, Northern Samar, and Davao Oriental. The inclement weather over the

BI intercepts Russia-bound Pinoy workers

House prosecution team eyes Group press SC to act on minimum wage pleas decrease of witnesses vs Sara

HE Bureau of Immigration (BI) on Wednesday said 14 suspected trafficking victims were rescued at the Ninoy Aquino International A ir port (Naia) Terminal 3 and Clark International Airport (CIA) Terminal 2 while attempting to leave the country. In a statement, the BI said the victims, who were recruited to work in Russia, were rescued last August 8. Two of their suspected recruiters were arrested. Related story on page B8 Among the rescued victims were six men, in their early 40s to 50s, who attempted to travel abroad via a Cebu Pacific flight to Hong Kong. The victims initially claimed to be on a vacation with former colleagues from the military, but gave conflicting statements on the details of their trip. They later admitted that they were bound for Russia where they were recruited to work and offered a US$3,000 monthly salary. Meanwhile, the other eight victims were rescued in NAIA after attempting to depart on board a Cebu Pacific f light to Singapore. The victims, composed of six males and two females in their 30s to 50s, also initially claimed to be on a business trip, but later admitted to be heading to Russia where they were offered a highpaying jobs, as well as Russian citizenship. The eight victims admitted that that their facilitators, a male and a female, were also traveling on the same flight with them. They insisted that the trip was merely for business purposes. All 14 victims and the two suspected facilitators were turned over to the Inter-Agency Council Against Trafficking for further investigation and filing of charges against the recruiters. BI Commissioner Joel Anthony Viado has warned aspiring overseas workers anew not to fall prey illegal recruitment schemes. “These recruiters will promise you high salaries and even citizenship, but victims often fall into distressing situations,” said Viado. “Protect yourselves from these predators. They recruit Filipinos solely for their own gain, but will not hesitate to put your lives and safety at risk once you are in a foreign country,” he warned. Joel R. San Juan

By Joel R. San Juan

By Jovee Marie N. dela Cruz @joveemarie

HE Hou se prosec ut ion panel in the impeachment trial of Vice President Sara Duterte may reduce the number of witnesses it plans to present regarding the alleged misuse of confidential funds. Manila Rep. Joel Chua said the prosecution will reassess its remaining witnesses after hearing the testimonies of former Department of Education disbursing officer Edward Fajarda and Office of the Vice President Assistant Secretary Lemuel Ortonio. “We have seen that Gina Acosta’s testimony was significant, so we expect Edward Fajarda’s testimony to be equally substantial,” Chua said. Fajarda previously testified during the House investigation regarding the handling of confidential funds at the Department of Education while Duterte was Education secretary. Other potential witnesses from the Armed Forces are also included in the prosecution’s pre-trial list. Chua said some witnesses may no longer be needed if earlier testimonies are already sufficient to establish the prosecution’s claims. The panel previously used the same strategy in presenting evidence regarding allegations that Duterte threatened President Marcos, removing witnesses whose testimonies would have repeated information already presented. “If we believe the evidence is already strong and that we have proven everything that needs to

be proven, then our next steps will depend on our legal strategy in the coming days,” he said. Private prosecutor and House prosecution spokesperson Benjamin Tolosa Jr. confirmed that Fajarda and Ortonio remain among the upcoming witnesses. Meanwhile, Lanao del Sur Rep. Zia Alonto Adiong, spokesperson for the House prosecution panel, questioned the process used by the Office of the Vice President in handling its P125-million confidential fund in December 2022. Acosta testified that, upon Duterte’s instructions, she turned over the entire P125 million to Col. Raymund Lachica, then head of the vice president’s security team. According to Acosta, Lachica also provided information regarding the confidential programs and activities to be funded. She said Duterte approved the release of the money to Lachica because he supposedly knew how to carry out confidential operations. Acosta acknowledged, however, that handling confidential funds was not normally part of a security officer’s duties. Adiong argued that government financial controls are designed to separate the people who identify activities, handle funds, and prepare or verify liquidation documents. He said allowing one person to participate in several stages of the process raises serious concerns about accountability and transparency. The prosecution also raised concerns about the documents used to liquidate the confidential funds, describing the process as

potentially involving unverifiable or “ghost” transactions. State auditors who testified during the impeachment proceedings identified deficiencies in documents submitted to support some confidential fund transactions involving the OVP and the Department of Education. According to Acosta’s testimony, Lachica received the confidential funds and later submitted utilization documents that were used in the liquidation process. Adiong argued that this arrangement deserves closer examination because the same individual allegedly helped determine the activities to be funded, received the money, and later supplied supporting documents. He a l s o m a i nt a i ne d t h at Duterte authorized the transfer of the funds, citing Acosta’s testimony that she acted under the vice president’s instructions. In addition, Chua compared the questioned transactions to “ghost projects,” saying the prosecution has concerns about whether some reported beneficiaries, goods, medicines, and activities can actually be verified. Chua added that acknowledgment receipts were among the main documents used to support the transactions, while questions remain regarding the identities of some recipients and the actual purchases involved. “Ever y thing appears to be ‘ghost’ transactions, with nothing shown to be genuine or valid. And all the evidence they used consisted only of acknowledgement receipts,” Chua said.

Nartatez to PNP-ACG: Take down videos of Ateneo shooting incident By Rex Anthony Naval

HE National Police (PNP) Chief, Gen. Jose Melencio Nartatez Jr., on Wednesday ordered the Anti-Cybercrime Group (PNP-ACG) to beef up its coordination with the management of social media platforms in taking down all the photos and videos in relation to the shooting incident at the Ateneo de Zamboanga University on August 18.

The incident was live-streamed by the minor that carried out the gun attack and Nartatez wants to ensure that netizens, particularly minors, will no longer have access and capability to re-post and share any video and screenshots in connection with the incident. “This is an unfortunate incident that should be treated with utmost sensitivity, especially that there were minors involved in the content. Let us all be compassionate over this

tragedy and it starts by showing respect and becoming responsible netizens,” the PNP chief said. “We appeal to everyone to refrain from sharing or reposting the videos and photos of the incident. These materials can cause further distress to the victims, their families and the public, and may also interfere with the ongoing investigation,” he added. See “Video,” A4

@jrsanjuan1573

HE Kampihan ng Maralita at Manggagawa (Kamanggagawa) party-list group and several other labor groups have asked the Supreme Court to immediately act on their petitions seeking to set aside the orders issued by a local court that stopped the implementation of the P85 minimum wage increase in Metro Manila. The groups filed a manifestation before the SC seeking its urgent action on their petition citing the issuance of a writ of preliminary injunction last August 13 by the Regional Trial Court in Pasig City, which indefinitely extended the temporary restraining order (TRO) it issued on July 30, pending determination of the merits of the petition for declaratory relief filed by Readycon Trading and Construction Corporation and R-II Builders, Inc. “More significantly, the preliminary injunction transformed what had initially been a temporary twenty-day restraint into a judicial restraint capable of

continuing throughout the pendency of the principal action,” the petitioners said. “The August 13 order therefore does not diminish the urgency of the present petition. It confirms it,” they added. The petitioners maintained that the trial court has no jurisdiction and legal authority to enjoin the wage hike approved by the Regional Tripartite Wages and Productivity Board in Metro Manila in two tranches. The first amounting to P60 took effect on July 25 and the remaining P25 will take effect on January 20, 2027. It may be recalled a status quo ante order (SQAO) was initially issued by the Pasig RTC Executive Judge dated July 23, 2026 which was followed by a TRO issued by Pasig RTC Branch 152 which halted the wage hike. They stressted that the trial court’s action is prohibited under Article 123 of the Labor Code which mandates that any party aggrieved by the wage order by the regional board may file an appeal before the commission within 10 See “SC,” A4

Legislator seeks magna carta for public disaster reponders

S disaster threats intensi f y du r i ng t he monsoon season, a House of Reprsentatives deputy majority leader urged the Congress to pass a measure that would provide stronger financial, medical, and employment protection for public disaster responders who put their lives at risk during emergencies. Filed by Quezon City Rep. Pat r i c k M i c h a e l Va r g a s , House Bill 2269, or the proposed Magna Carta for Public Disaster Risk Reduction and Management Workers, seeks to grant qualified DRRM personnel hazard pay of up to 25 percent of their daily basic salary, 50 percent standby or on-call compensation, and fully subsidized hospitalization and medical treatment for work-related injuries and

illnesses. Vargas renewed his call for the bill’s swift passage as heavy monsoon rains continue to expose communities across Luzon to flooding, landslides, and other disaster risks. “During our visits to affected communities, we witnessed firsthand the tremendous sacrifice and dedication of our DRRM workers in making sure residents are safe and evacuation centers are properly prepared,” Vargas said. “ They are putting their lives on the line to protect Filipino families. It is time that the government give them the protection, compensation, and recognition they deserve,” he added. The measure seeks to institutionalize comprehensive See “Disaster,” A4

Thursday, August 20, 2026

www.businessmirror.com.ph

ERC to challenge CA ruling on Siquijor power distribution T

PNOC eyes completion of storage tank by end-’27

By Lenie Lectura

@llectura

HE Energy Regulatory Commission (ERC) is set to challenge the ruling of the Court of Appeals (CA) that voided its earlier decision to revoke the operating permits of Siqujor Island Power Corp. (Sipcor).

Premiere Island Power REIT Corporation (PREIT), a Villarbacked real estate investment trust whose primary sponsor and major lessee is Sipcor, received last Tuesday a decision from the Court of Appeals (CA), which granted Sipcor’s petition for review filed in September last year and reversed the ERC’s decision. Sipcor,a power generat ion company operating diesel and

Video. . . Continued from A3

Nartatez said the PNP-ACG and other concerned units were already directed to monitor and report the spread of sensitive videos online. Fol low ing t he incident on Tuesday morning, police teams were sent to the Ateneo de Zamboanga University to respond and conduct an investigation to come up with a clear picture of what happened. One of the key aspects of the investigation, according to Nartatez, was how the minor was able to smuggle two firearms inside the school. But he said the investigation will go beyond the actual gun attack, as he stressed that a thorough investigation must be carried out to determine all the circumstances that prompted the minor to carry out the attack. “We have to dig deeper into this matter, especially that this is not the first time that this tragedy happened. Our focus is to check if there’s a pattern or identify intervention measures to prevent the repeat of this kind of incident,” the PNP chief stressed. Another aspect of the investigation is on the issue of responsible gun ownership as Nartatez pointed out the need to add more teeth in running after those whose firearms became easily accessible to minors. The PNP has been closely working with the Department of Education in coming up with measures that will ensure the safety of all schools and other learning spaces across the country.

bunker-fired power plants on Siquijor Island, will keep PREIT updated on the finality and execution of the decision, as well as the recovery of its operating authority. Once achieved, Sipcor intends to lift the suspension of the amended the April 2022 lease agreement. “Taking into consideration the Court of Appeals’ Decision in favor of Sipcor without prejudice to

any action or remedies that may be pursued by the ERC, PREIT shall continue to evaluate internally and confer with Sipcor regarding the potential lifting of the suspension, subject to the formal restoration of its authority to operate. “The eventual lifting of such suspension, which remains contingent upon material developments on the matter, is expected to have a favorable effect on PREIT’s overall financial condition upon the resumption of revenue recognition arising from the lease,” PREIT said in a disclosure. E RC C h a i r p e r s o n Fr a n c i s Saturnino Juan refused to comment on the merit of the case. However, the ERC, through the Office of the Solicitor General (OSG), will file a motion for reconsideration (MR). “I would not comment on the decision itself or the merits of our case. But please note, regardless of the final outcome of the case— we will file our MR through the OSG—the term of Sipcor’s provisional authority to operate had

already expired. So, Sipcor cannot just resume operations without filing for its renewal,” Juan said via Viber on Wednesday. In August last year, the ERC revoked the provisional authority to operate and ordered a ceaseand-desist for Sipcor’s generation facilities. C it i n g m aj or o p e r at ion a l breaches, the ERC said Sipcor lacks operating certificates for several generator sets, failed to submit reportorial disclosures, and violated the power supply agreement. It was also cited for prolonged power outages caused by poor maintenance planning and delayed parts replacement, which led to extended shutdowns. “But why would it still operate if its power supply agreement with Prosielco [Province of Squijor Island Electric Cooperative Inc.] was already terminated and Prosielco had already conducted its CSP [competitive selection process] and contracted w ith a new power provider,?” Juan commented.

NGCP raises red alert in Visayas

HE National Grid Corporation of the Philippines (NGCP) on Wednesday placed the Visayas power grid under yellow and red alert owing to thin power reserves. The red alert status— issued when power supply is insufficient to meet consumer demand and the transmission grid’s regulating requirement— takes effect from 6:00 p.m. to 7:00 p.m. Meanwhile, the yellow alert takes effect from 5:00 p.m.to 6:00 p.m. and from 7:00 p.m. to 10:00p.m. A yellow alert is issued when the operating margin is insufficient to meet the transmission grid’s contingency requirement. According to the grid operator, the grid is operating with an available capacity of 2,481 megawatts (MW) against a peak demand of 2,481MW. The NGCP said there are 11 plants on forced outage in August, one plant since July, three plants since June, seven plants since May, one plant since March, three plants

Disaster. . . Continued from A3

socioeconomic safeguards and employment benefits for public disaster personnel, including permanent employees, contract

since 2025, two plants since 2024, two plants since 2023, and one plant since 2021, while 12 plants are running on derated capacities, for a total of 819.6.MW unavailable to the grid. The NGCP also cited the following factors that contributed to the yellow and red alert declaration: n Unavailability of Visayas’ large

coal plants TVI 1 and TVI 2 n Limited power import from

Mindanao (primarily due to the outages of coal plants and high system demand of Mindanao) n Increase in forecasted demand at 7:00 p.m. by 53MW n Outage of PB101 U2 (5.6MW) and PB101 U4 (5.6MW) The Department of Energy (DOE) said on Monday that the yellow alert hoisted over the Visayas power grid will persist because of major generation outages and limited power transfers from neighboring grids. However, the DOE is pursuing two things to of service workers, and job order personnel. Under HB 2269, responders assigned to high-risk search, rescue, and retrieval operations may receive a hazard allowance equivalent to up to 25 percent of their daily basic salary. Personnel placed on standby during emergencies would also be entitled to on-call compensation equivalent to 50 percent of their regular wages. Field personnel wou ld re ceive full subsistence allowances, monthly laundry allowances, and a five-percent longevity pay increase for every five years of service. Those deployed away from their permanent residence may also be provided free living quarters or a corresponding housing allowance. Beyond financial benefits, the proposed Magna Carta places strong emphasis on the physical and mental well-being of disaster responders. The bill mandates free annual medical, mental health, and psy-

restore available capacity, manage the tight supply situation, and keep electricity f lowing across the Visayas. Energy Secretary Sharon Garin said generation companies (gencos) that accumulate three violations—whether for delayed reports or unscheduled outages—will be blacklisted, following due process. Also, the agency is pursuing around 200 megawatts (MW) of battery energy storage systems (BESS) in Panay, Negros, and Cebu as the fastest temporary fix for the grid. Garin said the DOE simulations showed that these batteries will completely eliminate red alerts and significantly reduce yellow alerts. Garin cited that since Visayas runs on 47 percent renewable energy; the batteries will store excess daytime solar power and release it during high-demand evening hours to exponentially stabilize the grid. “That will help Visayas exponentially,” the energy chief said. Lenie Lectura chosocial examinations, as well as full government coverage of hospitalization, treatment, and medicines for injuries or illnesses acquired in the line of duty. Responders would also be provided complete personal protective equipment, free vaccinations, and necessary medical prophylaxis against contagious diseases that they may encounter in disaster and emergency zones. HB 2269 also seeks to strengthen long-term employment security by ensuring appropriate social protection coverage under the Government Service Insurance System, Social Security System, PhilHealth, and the Universal Health Care Act. The measure includes safeguards against arbitrary dismissal and politically motivated reassignment while giving DRRM workers priority access to professional training, scholarships, and postgraduate programs related to disaster risk reduction and management. Jovee Marie N. dela Cruz

HE Philippine National Oil Company (PNOC) has funded and started studies to build at least one oil storage tank by end of next year. “The Philippine National Oil Corporation reported that they have already started the studies and they have already allocated a budget with objective of having at least one tank ready by the end of 2027. That is one million barrels per tank,” said PNOC chairman and Energy Secretary Sharon Garin. PNOC, in partnership with the Maharlika Investment Corp., are developing a strategic petroleum reserve and oil storage facility. Maharlika proposed a consortium with PNOC and the private sector to build oil depots to store strategic reser ves. Maharlika would act as a capital provider, PNOC would contribute assets and pr ivate operators wou ld manage the facilities. The investment is initially pegged at P5 billion per storage tank, capable of storing 500,000 to one million barrels of oil. “We are moving this forward to provide the country with a

government-held emergency fuel buffer that can be called upon when major international supply disruptions threaten our energy security,” said Garin. “Our objective is hopefully to have around 15 tanks, but that will take time because this is a very expensive and long process,” she added. Garin pointed out that building comprehensive infrastructure like roads and ports for petroleum reserves decreases the country’s vulnerability to global economic shocks by diversifying and expanding its energy mix. “What we need are roads, ports, and all the other facilities that should be in a petroleum reserve. Every additional source we develop, every reserve we build, and every indigenous energy resource we bring into our energy mix makes the country less vulnerable to the next global shock,” added Garin. The Senate and the House of Representatives are already tackling the proposed bills related to establishing the Philippine Strategic Petroleum Reserve (PSPR) system. Lenie Lectura

PGH gets ₧1.85 billion for zero-billing program By Reine Juvierre S. Alberto @reine_alberto

HE Department of Budget and Management (DBM) released an additional P1.855 billion to the Philippine General Hospital (PGH) to cover its Zero Balance Billing (ZBB) program, medical services and specialized treatments. In a statement on Wednesday, the DBM said P1.04 billion of the additional funding will support a broad range of medical services at the state-run hospital. PGH is a national university hospital operated by the University of the Philippines (UP) Manila and one of the country’s foremost referral centers. About P800 million will also be allotted to finance the hospital’s ZBB program, a government policy that seeks to reduce or eliminate out-of-pocket hospital expenses for patients admitted to basic accommodation or a ward in facilities accredited by the Department of Health (DOH). The remaining P15 million will likewise fund the treatment of patients with Dystonia-Parkinsonism, or Lubag Syndrome, including specialized treatment and related

SC. . . Continued from A3

days which will be decided within 60 days. Furthermore, the petitioners said the trial courts are prohibited from issuing TROs or any injunctive relief against wage order under Article 126 of the Labor Code which states: “No preliminar y or permanent injunction or temporary restraining order may be issued by any court, tribunal or other entity against any proceedings before the Commission or the Regional Boards.” The manifestation also noted that the preliminary injunction was issued by the lower court despite the pendency of the motion for leave filed by labor organizations seeking to intervene in the case before the Pasig RTC. “The August 13 order acknowl-

medical requirements. “This P1.855 billion is not simply additional funding on paper – it means more resources for treatment, less financial pressure on families, and continued support for patients who depend on PGH for critical and specialized care,” Budget Secretary Kim Robert C. de Leon was quoted as saying. The DBM noted that the release was made in accordance with budget execution rules and requirements to ensure that the additional funds are used for their intended purposes. For 2027, budget allocation for UP System’s Health Services Program, which covers PGH’s operations, is proposed at P7.290 billion, almost 10 percent lower than this year’s P8.096 billion. The consolidated health sector budget is proposed at P1.06 trillion for next year to improve access to hospitals, medicines, health facilities, financial assistance, and other essential health services, according to the DBM. “Our fiscal space may be limited, but when lives and essential health services are at stake, government must find the resources and make them count,” de Leon said. edged the burden upon millions of minimum-wage workers, yet the workers’ representatives had not first been admitted to present evidence concerning the injunction’s actual effect upon their livelihood,” the manifestation read. “Due process required that workers be heard on what it means not to receive it,” it added. In their main petition filed before the SC, the labor groups also questioned the order issued by the RTC in Navotas on August 3, setting APFF’s application for SQAO for clarificatory hearing. They asked the Court to prohibit the two trial courts from continuing to exercise jurisdiction over the applications for injunctive relief against the wage hike. The labor groups also asked the SC to issue guidance for courts, workers, employers and wage boards on the proper forum and scope of judicial review of wage orders.

The World

www.businessmirror.com.ph

South Korea exploring new financial center

OUTH Korea is looking to create a new financial center outside the capital Seoul, as the government moves to ease over-concentration in the greater metropolitan area, which is home to more than half the country’s population. One candidate being considered is Jeonbuk, a province about 200 kilometers (124 miles) south of Seoul, which is already home to the National Pension Service, which manages more than $1 trillion. The NPS relocated its headquarters to Jeonbuk in 2015. At a committee meeting, government officials and financial industry leaders discussed a plan to develop a new financial hub, including how to evaluate whether Jeonbuk was a suitable candidate, the Financial Services Commission said in a statement Wednesday. The drive by the administration of President Lee Jae Myung to balance overall national development and ease the concentration of business, people, and jobs in Seoul mirrors steps elsewhere to establish additional financial and administrative hubs. Japanese lawmakers approved a bill in July to designate one or more regions as a backup if Tokyo is incapacitated by a disaster. China called earlier this year for greater efforts to develop the metropolis of Xiongan near Beijing to serve as a release valve for the crowded capital. In India, authorities are pushing for further development of GIFT City, a financial hub that’s several hours away by air from the trafficchoked streets of Mumbai. The government will “encourage financial market innovation, establish infrastructure that complies with global standards, and vitalize the capital market to be more foreign investor friendly”, to foster a solid financial hub, the statement said. The committee will also “actively support” the overseas expansion of local financial institutions and boost communication with global financial firms operating in South Korea. A panel made up of officials, academics and industry experts will evaluate Jeonbuk’s potential to grow into a global financial hub and its ability to attract domestic and international financial institutions. The government has also announced plans to build a massive new chip hub in the far south of the country. In 2009, Korea designated Seoul and Busan as financial hubs. Seoul ranked eighth and Busan the 23rd financial hub globally in March this year, according to the Global Financial Centres Index 39. Bloomberg News

Thursday, August 20, 2026

AI boom, energy shocks see SE Asia’s growth bifurcate By Srinidhi Ragavendran

Bloomberg News

IETNAM retained its crown as Southeast Asia’s fastest-growing major economy in the second quarter, with Thailand the laggard, as tech and energy dictated varied fortunes across the region.

Malaysia and Singapore were the second- and third-quickest ex pand ing , helped by robust demand for semiconductors and other components used in global technology supply chains. Along with Thailand, the Philippines was also more exposed to surging energy costs stemming from conflict in the Middle East. A sharp pullback in infrastructure spending additionally weighed on

growth in the Philippines. The divergence underscores Southeast Asia’s reputation as an increasingly important alternative to China for manufactured exports. However it also highlights the uneven benefits of that shift, as economies with companies crucial to the AI-related technology supply chain prove more resilient, while those more vulnerable to expensive imported energy lose momentum.

Policymakers across the region are now grappling with how to cushion businesses and consumers from volatile oil prices without undermining economic growth. “Growth diverged across countries, dictated by the degree of domestic resilience in the face of the Middle East crisis and the share of exposure to technology exports” within the trade mix, DBS Group Holdings Ltd. economists Chua Han Teng and Radhika Rao said. Expansion will probably only continue to bifurcate given the unresolved conflict in the Middle East and sustained global demand for technology exports spurred by AI-related hardware. L ast Wed nesd ay, O verseaChinese Banking Cor p. upgraded its f u l l-year forecasts for Vietnam and Indonesia to 8.2 percent and 5.2 percent respectively. The Philippines’s outlook was downgraded to 3.2 percent from 3.8 percent while Thailand was nudged slightly higher to 2.4

percent, thanks to a stronger private sector buoyed by increased data center investments. “Despite differing fiscal policy responses to higher global oil prices, the balance of revisions remains skewed towards growth upgrades rather than downgrades,” economists led by Lavanya Venkateswaran wrote. “This supports our view that monetary policy across the region is likely to remain on a tightening path.” Singapore, meanwhile, upgraded its 2026 economic growth forecast earlier this month as the AI boom lifted trade and manufacturing, offsetting the drag from the war in Iran. “The global AI investment boom has been stronger than expected,” the Ministry of Trade and Industry said in a statement. “For the rest of the year, a further acceleration in AI-related capital expenditure is expected to lift the growth prospects of economies plugged into the global technology value chain.”

Australia rejects far-right call to slash cigarette taxes

USTRALIA’S government rejected the far right One Nation party’s call to slash cigarette taxes in order to reduce prices and cut crime, arguing instead for an intensified struggle against illegal tobacco flooding the country. “The focus I think needs to be on enforcement,” Assistant Treasurer Daniel Mulino said last Wednesday, adding that Canberra will continue to work with state and territory governments to tackle contraband cigarettes.

“It may be that there remains some illegal tobacco in the system,” according to Mulino, who maintains the best approach is “putting more effort into enforcement.” He acknowledged that organized crime is now “entrenched” in the market. He was responding to a proposal by One Nation leader Pauline Hanson for tobacco taxes to be cut by 75 percent. Hanson argued in a statement that the current policy “has failed and is now underwriting organized crime,” adding that the government has not only lost

revenue but also “lost control of the black market.” Over the past two decades, Australia has raised cigarette taxes to a level that has made it too expensive for most people to buy legal cigarettes. That’s driven many into the arms of organized crime that offers cheap illegal products. A pack of 20 cigarettes from a leading brand currently costs up to A$60 ($42) in Australia, while an illegal version can cost less than half that price. The exorbitant cost has not only

spurred a flood of smuggled cigarettes, but also set off a series of gang wars as the criminal groups that import and sell the products fight each other for control of the lucrative market. The rise of the illegal trade is eroding the government’s tax take and also undermining health policy, as Australians are now consuming more nicotine. The statistics bureau estimated earlier this year that as much as 80 percent of all nicotine consumption in Australia last year was illegal. Bloomberg News

US sanctions ICC president, vows to ‘dismantle’ court

HE Trump administration announced sanctions on the president and senior trial lawyer of the International Criminal Court, further escalating pressure against an institution that it says has unfairly targeted the US and Israel. The court is “a corrupt and fatally politicized supranational court that has maliciously abused its authority and exceeded its mandate,” Secretary of State Marco Rubio said in a statement. He threatened

more measures to “systematically dismantle the ICC until it is incapable of threatening American sovereignty.” Rubio’s statement and the sanctions targeting ICC President Tomoko Akane, who is from Japan, and Senegal’s Abdoulaye Seye, its senior trial lawyer, amount to the clearest indication yet that the US wants to cripple the institution rather than simply sideline it. Japan issued a statement calling the sanctions against Akane

“very unfortunate.” While a close US ally, Tokyo is the largest financial backer of the court. “Japan has consistently supported the ICC,” Ministr y of Foreign Affairs Press Secretary Toshihiro Kitamura said in the statement, adding the country remained committed to strengthening the rule of law in the international community. Trump and his allies have long accused the ICC of interfering in US affairs. During his first term,

he slapped sanctions on an ICC prosecutor and one of her aides for investigating accusations of American war crimes in Afghanistan. The court issued an arrest warrant for Israel’s Prime Minister Benjamin Netanyahu in 2024 over allegations of war crimes in Gaza. The Israeli government has denied the accusations, and the Biden administration rejected the court’s authority. Neither the US nor Israel is a party to the court, which was established in 2002 in the Hague, Netherlands, to prosecute war crimes, genocide and other atrocities. It has issued 60 arrest warrants, including for Russian President Vladimir Putin, and has detained 21 people. Seye, who was recently nominated to be an ICC judge, has worked on the prosecutorial team of the court’s Israel-Palestine proceedings. Netherlands Foreign Minister Tom Berendsen condemned the latest action, saying in a social media post that “international courts and tribunals must be able to freely carry out their mandates.” Last week, four leading US human rights organizations filed a lawsuit over the Trump administration’s campaign against the ICC, arguing the sanctions limit “access to justice for victims of serious international crimes around the globe.” Bloomberg News THE International Criminal Court (ICC) in The Hague, Netherlands, on Monday, February 23, 2026. LINA SELG/BLOOMBERG

Briefs. . . Indonesia holds rate

INDONESIA’S central bank held its policy rate steady in the first monetary decision under acting Governor Destry Damayanti, who forecast a continued advance in the rupiah that should mitigate upward pressures on prices. Bank Indonesia left its benchmark rate at 5.75% for a second straight month, as expected by all but one of 35 economists surveyed by Bloomberg. The central bank has already hiked rates by 100 basis points this year to shore up the currency and investor confidence. The rupiah should continue to strengthen as BI wields all monetary instruments incentives to attract foreign inflows, Destry said in an online briefing. Bloomberg News

UK inflation climbs to 4-month high

UK inflation accelerated in July after energy bills surged, ending a short period of respite for hardpressed British households. Consumer prices rose 2.9 percent from a year earlier, up from a 15-month low of 2.6 percent in June, the Office for National Statistics said on Wednesday. The increase was in line with the median forecast of economists surveyed by Bloomberg. The Bank of England forecast a pickup to 2.8 percent. The jump largely reflects a 13 percent rise in the price cap that sets household energy bills. Core inflation, which excludes energy, food, alcohol and tobacco, held steady at 2.6 percent. Bloomberg News

Evergrande liquidators challenge HK watchdog

A Hong Kong court began hearing arguments on whether a deal that set up a fund to compensate China Evergrande minority shareholders is valid. The city’s Securities and Futures Commission struck the HK$1 billion ($127.6 million) deal with PricewaterhouseCoopers’ Hong Kong affiliate in April to settle investigations into the firm’s auditing work for the developer, whose downfall was emblematic of China’s property crisis. The agreement resolved the matter without an admission of liability by PwC HK, the SFC said at the time. The case is a test of whether a Hong Kong court is willing to quash a regulator’s decision after legal pushback from creditors. Bloomberg News

Saudis give full oil allocations to Europe buyers

SAUDI Aramco has notified at least three European oil refiners that will supply full contractual crude volumes next month, easing concerns about the region’s supply concerns while crude flows from the Persian Gulf and Red Sea are disrupted. At least three European refiners will receive all the barrels they asked for in September, people with knowledge of the matter said, asking not to be named as they aren’t authorized to speak the media. Two buyers will lift from Egypt’s Mediterranean port of Sidi Kerir, while the third was given an option of taking supplies from Sidi Kerir, Saudi Red Sea port of Yanbu, or via ship-to-ship transfer from Malta. Bloomberg News

Worker influx lifts HK population

HONG Kong is increasingly reliant on imported workers as births fell below 30,000 for the first time, underscoring the limits of government incentives to arrest a demographic slump that threatens the city’s future workforce. The number of residents rose 0.3% from a year earlier to more than 7.5 million in mid-2026 on an influx of newcomers, according to provisional estimates released Tuesday by the Census and Statistics Department. Births plunged 15.6% to 29,700, the lowest since records began in the 1960s. In a statement, a government spokesperson attributed the population bump to measures for attracting talent and labor, which offset the natural decrease caused by deaths exceeding births. Bloomberg News

Thursday, August 20, 2026

The World

Chinese supertankers U-turn in Hormuz as risks stay high I

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Cocaine crackdown opens a new era of jungle warfare in Colombia

WO Chinese-linked supertankers have U-turned in the Strait of Hormuz as risks to shipping remain elevated, with prospects for a normalization of traffic dimming after President Donald Trump took a hard line on Iran. The Sea V, laden with crude from Iraq, was traveling toward Hormuz from the Persian Gulf on Tuesday when it turned around, and is now idling in the middle of

the strait, according to ship-tracking data. The Hestia transited into the gulf along the Omani coast early Wednesday before changing direction and sailing out. It’s

unclear why the vessels suddenly changed course. The very large crude carriers are flagged to Hong Kong and were broadcasting that they had Chinese crew on board. On Tuesday, a fuel tanker called Amara linked to the United Arab Emirates made several U-turns in the strait and remains in the waterway near Iran as of Wednesday. Visible traffic through the narrow waterway has slowed to a trickle as the threat of attacks from Iran remains high. On Tuesday, the UK Navy reported a vessel had been struck by an unknown projectile as it was exiting the gulf along the Omani coast, adding to a string of recent attacks on ships. The risks to shipping are set

to continue after Trump insisted that there were no ongoing talks with Tehran, leaving the simmering conflict in the Middle East in limbo. Iran’s lead negotiator with the US also said Hormuz won’t reopen until Washington agrees to a list of measures, including lifting its naval blockade, removing oil sanctions and ending military operations. Despite the threats, ships still appear to be attempting to transit Hormuz. The Erecter, another Hong Kong-flagged VLCC, is crossing the strait into the gulf and broadcasting a Chinese crew. The ship was last booked to pick up a cargo from Iraq, according to fixtures seen by Bloomberg News. Bloomberg News

London crackdown on emissions coincides with better child health By Olivia Rudgard Bloomberg News

INCE London introduced traffic restrictions in an effort to cut air pollution, there’s been a measurable improvement in children’s lung health in the city, according to a fresh study published in the Lancet. Scientists compared the lung capacity of children in Luton, a town about 37 miles (60 kilometers) north of London, with that of children living in London. They found that children in the UK capital had smaller lungs before London introduced its ultra-low emission zone (Ulez), but that over five years this changed so that the two groups had similar levels of lung size and health. The study also found that the proportion of children who had clinically impaired lung function fell twice as much in London as in Luton over the period.

Ulez, which was introduced in central London in April 2019 and expanded to outer London in August 2023, charges drivers to bring older vehicles with more polluting engines into the city. It’s designed to limit the amount of nitrogen dioxide in the air, a pollutant linked to breathing and circulation conditions like asthma and respiratory infections. The study’s findings, which were published in The Lancet Public Health, “will provide crucial evidence on real-life interventions that deliver life-changing health benefits for children,” Professor Lucy Chappell, chief scientific adviser at the Department of Health and Social Care and chief executive officer of the National Institute for Health and Care Research, said in a statement published with the report. “Air pollution is a global issue,” said Ian Mudway, associate professor in the School of Public Health at

Imperial College London and joint senior author of the study. “If we want to improve the lives of children living in high-traffic urban environments, we need bold and ambitious measures.” The expansion of Ulez in 2023, under Mayor Sadiq Khan, drew criticism from opponents who said it would penalize poorer Londoners and do little to solve the air quality problem in the city. Since then, the mayor’s office has released evidence suggesting that levels of nitrogen dioxide have dropped, though they remain higher than the maximum levels recommended by the World Health Organization. “We already knew that the Ulez reduced air pollution,” said Helen Wood, a research fellow at Queen Mary University of London, and the study’s lead author. “But now we know that children’s lung health has improved at the same time, which is a really important finding for children and parents living in London.”

Others cautioned against inferring causality from the results. Stephen Burgess, professor of bio-statistics at the University of Cambridge, said factors such as the pandemic may have played a role. The documented change in lung function is “striking,” he said. However, it’s “more questionable” whether the improvements are due solely to the introduction of Ulez, he added. Khan said the study “proves we were right” to move ahead with the Ulez expansion, “and reinforces my decision to extend the benefits of cleaner air to every child in London.” The study, which looked at more than 3,400 children, was led by researchers from Queen Mary University of London in collaboration with Imperial College London and the Universities of Bedfordshire, Oxford, Cambridge, Edinburgh and Southern California and funded by the NIHR.

By Maya Averbuch & Matthew Bristow Bloomberg News

N a clearing in the fiercely contested jungles of southern Colombia, former members of a feared militia are waiting to learn whether President Abelardo de la Espriella will let them build civilian lives, or force them back on the run. The 86 men and 13 women are the only fighters to demobilize under the previous government’s four-year “Total Peace” initiative, an effort to persuade members of Colombia’s cocaine-funded armed groups — estimated to number about 29,000 — to lay down their weapons. They are still living in a cluster of low-slung buildings, where they were promised six months of job training, medical treatment and other support before going home to begin new lives. De la Espriella and the Trump administration have dismissed the peace process as a sham, and the new president is now dismantling the approach of his leftist predecessor, Gustavo Petro, leaving the former militants in limbo. Since taking office Aug. 7, De la Espriella has begun what could become Colombia’s biggest offensive against illegal armed groups in more than a decade. “We showed the state we were able to put down our weapons,” said Darwin Cuajiboy, 32, who has lived at the site a few miles north of the Ecuador border since June, alongside other former members of the Comandos de la Frontera militia. “We’re worried the government that’s taking power might say it’s all over.” In its first days in office, the new government ordered operations against at least three illegal armed groups. In a raid near the Venezuelan border Aug. 10, the armed forces said they killed two alleged members of the ELN guerrilla force. Days later, the rebels struck back with a drone attack in the same region, killing at least one soldier and injuring others. Investors, meanwhile, are trying to gauge whether De la Espriella’s crackdown is good news for the oil industry and other sectors held back by the conflict, and how much support Colombia can expect from the US. The government was cash-strapped even before the nation’s strongest earthquake in half a century caused an estimated $10 billion of damage last week. De la Espriella’s narrow victory raises doubts about how far he can pursue his agenda. Almost half of voters backed his rival, who wanted to continue peace negotiations, and resistance to the crackdown could also make it harder for the president to advance his pro-business reforms.

Depleted military

THE criminal groups operating in rural Colombia are flush with cash from record cocaine production, increasingly adept at drone warfare and capable of striking far beyond their jungle strongholds through sleeper cells in major cities. Colombia’s armed forces, by contrast, start on the back foot. The army lost much of its senior leadership during Petro’s administration, while fraying international alliances cut access to equipment, training and intelligence. That leaves De la Espriella trying to rebuild the military even as he deploys it against illegal groups that spent years boosting their capacities. Many formed out of the remnants of the FARC, the guerrilla group that spent a half-century fighting the government, and signed a peace agreement a decade ago. “The security situation faced by the new government is deplorable,” said former general Alberto José Mejía, who was head of

Rockfall. . . Continued from B8

However, Chiong said the city cannot immediately proceed with all the originally targeted units because some identified beneficiaries are living on land they do not own. “We need a consent or deed of donation from the owner of the land because what we are extending is only the houses,” he said. The mayor said barangay officials are helping identify families who are most in need of housing assistance. Beneficiaries are also required to provide documentation, including photographs of their existing houses. City Planning and Development Coordinator Engr. Joveno Garcia said the program is designed to address the city’s housing backlog while improving the living conditions of vulnerable families.

the nation’s armed forces from 2017 to 2018. “They’re going to have to do the equivalent of fixing the plane while it’s in the air.” Groups such as the ELN are likely to react violently to having their safe havens and criminal economies attacked, and have the potential to carry out terror attacks in major cities, Mejía said. It’s unclear what will happen to the exfighters at the camp in Putumayo, Colombia’s second-biggest cocaine-producing province, or whether they’ll be branded as insurgents once home. Since his election, De la Espriella has said he will bring the full weight of the law against criminals, without specifically addressing the fate of those who recently agreed to disarm. A spokesperson for the president didn’t respond to a request for comment. The prospect of an intense military campaign stirs memories of the nation’s violent recent past, when the armed forces suffered several hundred combat deaths every year and thousands of civilians were displaced. The active groups have already pulled back to mountain and jungle strongholds to prepare for De la Espriella’s offensive, according to one member of the military who asked not to be identified because he wasn’t authorized to talk to journalists. But if the military can weaken the criminal groups, there’s potential for a peace dividend from the return of investors who were scared away by soaring rates of extortion and kidnapping. Diego Orozco Gómez, a 75-year-old cattle rancher in Putumayo, says he expects the country to endure intense fighting during De la Espriella’s crackdown, but supported him because he believes he will ultimately make the country safer and more prosperous. He said many ranchers have been paying extortion for years. “The armed forces will act authoritatively in the region, and we know that means there’ll be a difficult period,” he said. “But after that time, I hope we can live in peace.”

Remington rifle

AT the ex-fighters’ rehabilitation center, residents pass the time by taking classes, playing football and lifting makeshift concrete weights at the site on a former coca farm. The site was unaffected by the massive earthquake that struck Colombia on Aug. 10. The former militants are trying to stay optimistic that they’ll get the help they were promised: cash payments, as well as funds to help start a business, buy a home or go to school. Some recently wrote a letter to the new president begging him to hold up the state’s end of the bargain. Cuajiboy served in Colombia’s military before he dropped out to work on farms, then joined the Comandos de la Frontera three years ago to earn more money. He carried a Remington rifle, which he turned over to the state in June, hoping that at the end of the year he’d be allowed to go home. He said he never fired his weapon at the military, but did skirmish with other illegal groups fighting for control of territory. Another ex-combatant at the camp, Tatiana Parra, 20, said she left school at 13 and as a teen worked picking coca leaves, the raw material for cocaine, before joining the Comandos to support her two kids, earning 2 million pesos ($646) a month. It allowed her to pay for her older son’s school, uniforms and supplies. She had hoped to be in her hometown by Christmas with a plan to open up a barber shop with her husband, who also decided to leave life as a combatant. “We’re waiting to see if they throw us out,” Parra said. “The plan was that the president would help us.”

“Providing housing is essential to improving the quality of life of vulnerable families by ensuring access to secure, durable and healthy living environments,” Garcia said. Garcia said the project will also generate jobs for local residents during construction and stimulate demand for locally sourced materials. He added that the initiative supports social equity and inclusive development by giving economically disadvantaged families access to affordable and dignified housing. T he housing prog ram a lso forms part of Naga’s efforts to assist families living in areas vulnerable to hazards, particularly landslides and rockfalls. Despite the challenges, Chiong said the city government remains committed to finding ways to continue the program and provide safer homes for families in need.

Thursday, August 20, 2026

Flood-hit families in Quezon City find shelter in DAR compound By Jonathan L. Mayuga @jonlmayuga

HE Department of Agrarian Reform (DAR) opened its doors to more than 15 families from Philcoa, Quezon City, a neighboring community of the Agency, who were forced to leave their homes and seek a safe place to stay amid the heavy rains and severe flooding the past few days. DAR Administrative Service Director Mary Joyce S. Ricamora and agency personnel worked together to accommodate the affected families and provide them with a temporary evacuation area at the DAR gymnasium while floodwaters remained high. DAR Secretary Conrado M. Estrella III, together with other DAR officials, personally checked on the families who sought temporary shelter at the DAR compound. The also provided food for the evacuees as they waited for conditions to improve and for it to become safe for them to return home. The simple gesture reflected the spirit of bayanihan—opening one’s doors, looking after one another, and extending help to those in need, especially during difficult times. “We wanted to make sure that the families have food and a safe place to stay while they wait for floodwaters to subside. In times like this, we all need to help one another,” Ricamora said. The families sought shelter at the DAR compound amid intense rainfall that affected Metro Manila. The Metropolitan Manila Development Authority (MMDA), citing data from the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA), reported 201.7 millimeters of rain recorded in just five hours. For DAR, the response was not only about providing a temporary place to stay. It was also about showing care for a neighboring community facing a difficult situation. The initiative reflects the spirit of bayanihan that continues to guide DAR personnel—extending compassion beyond the agency’s mandate and being ready to lend a hand when communities need it most. Government service is ultimately about people. And in times of crisis, sometimes service means opening the door, making room, and being there for those who need it, Estrella pointed out.

Angara: Motive behind Zamboanga school shooting remains a ‘mystery’

By Claudeth Mocon-Ciriaco

@claudethmc3

DUCATION Secretary Juan Edgardo Angara on Wednesday said that the motive behind the recent tragic school shooting incident at Ateneo de Zamboanga University (AdZU) in Zamboanga City remains a “mystery,” but did not discount the possible involvement of online groomers. “So ‘yun, ang sinasabi ko kanina medyo misteryoso pa sa atin kung ano ang nag- trigger dito. Maaring di ba, sabi nga nung isang official dito, huwag natin iroll-out na may groomer siya online,” Angara, who went to AdZU, told reporters in an interview with the media shortly after he met with university officials led by President Fr. Guillrey Anthony M. Andal, SJ, Zamboanga City local government officials, and representatives from the Philippine National Police (PNP) for a joint security briefing to evaluate campus protocols and streamline emergency measures. Angara also called on entire communities to adopt a whole-ofnation approach to campus safety

and youth well-being. Although it is not yet conclusive, Angara said that the possible connection of online gaming world that could lead to the danger of grooming may be a “factor.” “Hindi rin natin alam na totoo yun ha? Hindi pa conclusive ‘yun. So maaring it could be a factor but we don’t know yet at this stage,” Angara said, adding that an online groomer may use ones emotional reactions like anger to manipulate victims online. Angara also said that the student is not depressed for he did not lack love of family. Meanwhile, DepEd officials and Angara extended his deepest con-

dolences to the grieving families and the entire Ateneo de Zamboanga community. He emphasized that learner safety and youth welfare are universal concerns that transcend public-private school distinctions. “Dapat natin i-approach itong problema bilang isang komunidad, dahil problema ito hindi lang ng isang eskwelahan pero palagay ko problema ito ng ating kabataan, ng komunidad, at ng bawat komunidad sa buong bansa,” Angara said, calling for unity across all sectors. During discussions with school officials and local authorities, Angara highlighted that while physical safeguards—such as perimeter fences, CCTV cameras, metal detectors, and heightened police visibility—are vital, they must be paired with active community engagement and strong emotional support systems within schools. “Tinitignan natin hindi lang seguridad, hindi lang bakod, hindi lang CCTV, hindi lang metal detector. Importante din iyon, pero importante din ang mag-reach out ang ating komunidad starting sa school communities...Talagang makihalubilo tayo sa ating mga estudyante, kilalanin natin sila, kumustahin natin sila. Kasi ang silbi talaga ng eskwelahan hindi lang magturo, kung hindi parang pangalawang tahanan,” Angara explained. Angara also emphasized that

NBI-7 offers free active-shooter training as public schools urged to prepare By Carmel Pedroza

EBU CITY — The National Bureau of Investigation in Central Visayas (NBI-7) is offering free lectures and training to schools to help equip students and teachers with the knowledge needed to respond during an active-shooter or school shooting incident, but so far, private schools have been the only ones taking up the offer. NBI-7 agent Maria Contessa Lastimoso said the bureau has been conducting its Active Shooter Preparedness and Prevention Seminar every two weeks, but public schools have yet to participate. “Despite the free lectures that NBI offered, no takers among the public schools. Only the private schools,” Lastimoso told Cebu

‘Proactive system preparedness’ keeps Manila Water ahead of habagat challenges

ANIL A Water continues to ensure reliable a nd uninter r upted water ser vices across its East Zone concession area through proact ive measures desig ned to strengthen operational resilience during the habagat season, its official said. In a statement, Manila Water, the private water concessionaire for the East Zone, said that while the country is experiencing the effects of the El Niño phenomenon, which may result in fewer rainfall events, periods of intense rainfall remain possible and can pose operational challenges brought about by flooding, power interruptions, and severe weather conditions. Anticipating these risks, Manila Water has put in place a comprehensive preparedness program to help safeguard its facilities,

personnel, and essential services. As part of its rainy season read iness initiatives, Mani la Water has completed preparedness activities at its three major water treatment facilities in Quezon City, namely Balara Treatment Plant 1, Balara Treatment Plant 2, and East La Mesa Treatment Plant. Each facility is equipped with backup generators to support continuous operations during power outages and other weather-related disruptions. The East Zone concessionaire has likewise completed inspections and readiness checks of its 33 water reservoirs. Flood mitigation measures, including the placement of sandbags and dewatering pumps, have been implemented in key facilities to address potential flooding incidents. See “Manila Water,” A8

media on Tuesday, Aug. 18, 2026. She said students have also been included in the seminars, rather than limiting the discussions to school personnel. At St. Theresa’s College (STC), for instance, both teachers and students attended the seminar. Bethany Christian School has also participated, while the University of Cebu sent its security personnel. The Redemptorist Seminary is scheduled to attend a seminar this week, Lastimoso said. Lastimoso said the NBI has also reached out to several public schools, including Abellana National School, Lahug Elementary School, Zapatera Elementary School and Guadalupe Elementary School, through letters inviting them to participate in school information drives.

However, she said the schools have yet to communicate with the bureau. The NBI-7’s push comes amid growing concern over school security and the need for institutions to prepare for the possibility of an armed attack. Lastimoso said schools should not wait for an actual incident before taking preparedness seriously. “We offer our lectures for free. Lets not wait for something like this to happen. Awareness is key,” she said. In a separate inter view on Wednesday, Aug. 19, 2026, Naga City Mayor Valdemar “Val” Chiong, meanwhile, said he is open to introducing active-shooter See “NBI,” A8

safe environments begin at home, urging parents to stay closely attuned to their children’s wellbeing. He added that President Ferdinand R. Marcos Jr. has repeatedly emphasized creating a welcoming atmosphere where teachers actively check on learners’ wellbeing and older learners serve as protective kuya and ate to their schoolmates. To address security vulnerabilities, the PNP would step up police visibility around school perimeters, while barangay tanods will be deployed to reinforce safety, especially in schools lacking security guards. Angara also underscored the need to scale up socio-emotional learning and mental health initiatives across all schools, as psychosocial support interventions are currently being delivered to affected individuals by the university. He also met with school principals from the Zamboanga City Schools Division Office (SDO) to directly address frontline operational concerns, focusing on strategies to address classroom shortages and concrete steps to heighten campus security measures. Addressing the online aftermath of the incident, Angara reiterated an urgent appeal to the public, digital content creators,

and news outlets to practice responsible digital behavior and protect the dignity of minors. “Ang pagprotekta sa mga bata ay nangangahulugan din ng pagprotekta sa kanilang privacy at dignidad,” Angara emphasized, citing reports of unverified rumors and graphic, content circulating online. Ang pagpapakalat ng mga hindi kumpirmadong detalye, sensitibong larawan, o marahas na video ay lalo lamang nagpapalalim ng trauma at nagdudulot ng karagdagang dalamhati sa mga nagdadalamhating pamilya, mga batang mag-aaral, at mga empleyado ng paaralan,” Angara said. DepEd urges the public to immediately cease sharing sensitive images or unverified accounts and to grant affected families the dignity, space, and privacy needed during this painful period. As the police investigation continues, Angara appealed to the public and the media to avoid making premature conclusions while the facts are still being established. DepEd continues to coordinate closely with local government units, security forces, private school associations, and mental health professionals to ensure comprehensive, sustained support and reinforced safety measures across campuses nationwide.

‘Ensure timely repair, replacement of monsoon-damaged classrooms’ By Butch Fernandez @butchfBM

ENAT E P resident W i n Gatchalian is urging the Department of Education (DepEd) and local government u n it s ( L GUS) to e n s u re t he timely repair and replacement of monsoon-damaged classrooms, a move that he says is crucial to the safe resumption of classes in affected areas. According to the DepEd, the combined effects of two tropical cyclones and the enhanced southwest monsoon damaged 6,681 classrooms as of August 14. “Tuwing bumabangon tayo mula sa mga kalamidad, kailangang agarang kumpunihin o palitan ang mga nasirang silid-aralan upang ‘wag malagay sa panganib ang mga magaaral dahil lamang sa mga pasilidad

na hindi agad naaayos [Each time we survive a calamity, we need to immediately repair or replac e damaged classrooms so that learners are not put in danger from unattended facilities],” said Gatchalian. He emphasized that if these classrooms are not repaired or replaced, the shortage of facilities for basic education will get worse. As of July last year, DepEd data showed that the classroom backlog stood at 147,000. The 2026 national budget’s P67.9 billion allocation for basic education facilities covers the replacement of school buildings. The DepEd recently announced that it would allocate P34.355 million for cleanup and clearing operations in 1,195 affected schools, while P201.586 million is allotted for minor repairs in 4,114 classrooms.

Rep. Teodoro camp vows to face sexual assault charges head-on, won’t seek delay By Jovee Marie N. Dela Cruz @joveemarie

HE camp of Marikina Rep. Marcy Teodoro is ready to face the charges filed against him in court and will not seek to delay the proceedings, his legal counsel said. Atty. Alma Mallonga said Teodoro’s defense team is confident in its case and is prepared to confront the accusations through the judicial process, where evidence can be examined and witnesses can be questioned. “We will face it,” Mallonga said, adding that the defense looks forward to a court process that could finally bring an end to the controversy surrounding the congressman. Meanwhile, Marikina residents have cried foul over the continuing cases filed against Teodoro, saying the complaints have become a source of frustration among families who believe politics is being

used to damage the lawmaker’s reputation. The Samahan ng mga Angkan sa Marikina, composed of 50 clans representing around 10,000 individuals, expressed dismay over what it described as repeated attempts to bring Teodoro down through accusations it considered baseless. “The cases against Cong. Marcy Teodoro are bogus and without sufficient basis, and it is disheartening that they are being used to pull down someone whom we have worked with and known for a long time in Marikina,” the group said in a statement. They said the repeated accusations have affected communities and families who have known Teodoro through his years in public service and who believe that a single allegation should not automatically erase that history. See “Teodoro,” A8

Thursday, August 20, 2026

Legislator seeks ‘Dōtoku discipline’ to change Metro Manila garbage habits By Jovee Marie N. Dela Cruz

@joveemarie

ITH Metro Manila continuing to struggle with garbage buildup despite repeated cleanup drives and antilittering campaigns, a lawmaker is pushing for a more preventive, Japanese-inspired solution—one that focuses not only on collecting waste but also on teaching people, especially children, not to create the problem in the first place.

to its garbage problem. “Laws, fines, and enforcement alone are not enough. We need to change the mindset and behavior of our young people. This is where the concept of Dōtoku, or moral education, comes in—teaching discipline, responsibility, and respect for others and our environment,” Santos said. Santos said this illustrates an important lesson from the Japanese experience: clean communities are created by combining an effective waste-management system with a strong culture of personal responsibility. Under the proposed approach, LGUs would continue improving waste collection, segregation facilities, and enforcement, while schools would strengthen values formation among students. The lawmaker said public and private schools could become the starting point for building this culture. In partnership with LGUs, the Department of Education (DepEd), barangays, and community organizations, students could participate in classroom discussions on environmental responsibility, proper waste segregation, recycling projects, school cleanliness activities, and community-based

environmental programs. However, Santos stressed that the purpose should not simply be to require students to clean their surroundings. Participating schools could also be encouraged to prepare their own Clean School Action Plans, covering proper waste segregation, recycling, reduction of single-use plastics, responsible disposal practices, and regular environmental activities. The school-based initiative would complement Santos’ earlier proposal to establish dedicated “Garbage Police” units across Metro Manila’s 17 LGUs, together with common minimum standards and coordinated policies against littering and illegal dumping. Rather than depending on recurring cleanup operations after streets, waterways, and public spaces have already become polluted, Santos said the Japaneseinspired strategy would attempt to stop garbage at its source by changing everyday behavior. Santos said the initiative should be developed in consultation with the Metro Manila Council (MMC), Metropolitan Manila Development Authority (MMDA), DepEd, Metro Manila’s 17 LGUs, barangays, and other stakeholders.

Following the support of Metro Manila mayors for his antilittering proposals, Las Piñas Lone District Rep. Mark Anthony Santos urged local government units (LGUs) and schools to consider adopting Japan’s concept of Dōtoku, or moral education, under a broader Clean Schools, Clean Communities program. The Japanese approach places strong emphasis on discipline,

personal responsibility, respect for shared spaces, and the understanding that cleanliness is a responsibility of every citizen. Rather than relying mainly on street cleaners, penalties, or government personnel, the system encourages individuals to take responsibility for their waste. Santos said this kind of mindset could provide Metro Manila with a more sustainable response

NBI. . .

House adjusts budget hearing schedule, remains on track for 2027 budget approval

Continued from A7

preparedness measures in public schools in the city. Chiong said police personnel regularly patrol schools, while the city government employs watchmen assigned to every school. However, he said Naga’s public schools do not currently use metal detectors. Asked whether active-shooter drills or simulations could be introduced in schools in the same way as earthquake drills, Chiong said he was open to the idea. “I’m open to that,” he said. Naga has 28 barangays, 22 of which have high schools, making coordination and implementation a consideration for the city government, Chiong said. The mayor also said schools have counselors to assist students dealing with bullying and traumatic experiences, while parents should take primary responsibility for monitoring their children’s activities, particularly online.

DepEd-7 working on activeshooter protocols

LAST month, the proposed school-based training also came into light as the Department of Education in Central Visayas (DepEd-7) works with the Philippine National Police (PNP) on formal protocols for activeshooter drills in public schools. DepEd-7 Legal Officer IV Atty. Leslie Joie Babatuan earlier said the regional office is finalizing a memorandum of agreement with the PNP that would provide clearer procedures for responding to active threats on school campuses. The initiative follows recent incidents that have heightened concerns about school security. Babat u a n sa id DepEd-7 is studying how public schools can conduct preparedness activities with law enforcement agencies while avoiding an excessive police or military presence on campuses. She noted that an active-shooter drill had already been conducted at a Cebu City school with the participation of the PNP, its Special Weapons and Tactics (SWAT) units, the Bureau of Fire Protection and other agencies.

ESPITE weather-related su spensions t h at d is rupted committee hearings, the House of Representatives remains on track to approve the proposed 2027 national budget on schedule, with lawmakers adjusting the hearing calendar to recover lost time without sacrificing scrutiny of agency spending. Under the revised schedule, House Committee on Appropriations Chairperson Mikaela Suansing said budget briefings will resume on Monday, August 24, with the Philippine Amusement and Gaming Corporation, Department of Trade and Industry, Department of Justice, Philippine Charity Sweepstakes Office, and Department of Science and Technology appearing before the appropriations panel. “We have adjusted our schedule to make up for the hearings that could not proceed because of the inclement weather. We have a responsibility to thoroughly scrutinize the proposed national budget, but we also have a timetable to meet. We intend to do both,” said Suansing. The revised calendar consolidates several agency briefings into each hearing day and allows simultaneous hearings in separate venues when necessary. Committeelevel deliberations are currently

Manila Water. . . Continued from A7

Personnel across Manila Water’s critical facilities also adhere to established emergency preparedness protocols, ensuring the availability of system backups, fuel reserves, batteries, medical and first-aid kits, food provisions, and other essential emergency supplies needed to sustain operations during severe weather events. To further enhance disaster response capabilities, Manila Water has strategically positioned emergency assets and equipment across its concession area to support rapid

scheduled to continue through September 8. Among the departments and agencies set to appear next week are the Department of National Defense, Office of the Ombudsman, Depar tment of Human Settlements and Urban Development, and Commission on Audit on August 25. On August 26, the panel will hear the budget proposals of the Department of Public Works and Highways, Department of Environment and Natural Resources, and Department of Migrant Workers. The Office of the President, Department of the Interior and Local Government, Commission on Higher Education, and Presidential Communications Office are scheduled to face the committee on August 27. Budget hearings will continue into September and will cover major government agencies, including the Departments of Agriculture, Health, Energy, Transportation, Education, Social Welfare and Development, and Labor and Employment. The Office of the Vice President, Judiciary, and other constitutional offices are also included in the schedule. Suansing said the committee has built flexibility into its calendar to accommodate possible fur-

ther disruptions without compromising the quality of congressional scrutiny or putting the House budget timetable at risk. The Appropriations Committee chair emphasized that maintaining the schedule does not mean rushing agency officials or limiting lawmakers’ opportunity to closely examine proposed expenditures. “We will not sacrifice the thorough scrutiny of the budget just to keep up with the schedule. What we are doing is managing our time better and making the necessary adjustments early so that every agency can still be properly scrutinized and every peso in the proposed budget can be properly accounted for,” explained Suansing. She added that the House leadership and the Appropriations Committee recognize the importance of completing committee deliberations on time to provide sufficient opportunity for plenary debates and the succeeding stages of the national budget process. “Our goal remains the same: a budget that is carefully and transparently examined, responsive to the needs of our people, and approved on time. We will make the adjustments necessary to get there without compromising the work that Congress is expected to do,” she added. Jovee Marie N. Dela Cruz

deployment when needed. The company’s emergency fleet includes six mobile treatment plants, a mobile command center, a mobile stage, a mobile toilet, a mobile sleeping quarter, an amphibious vehicle, a tractor head, six 4x4 rescue vehicles, an ambulance, an all-terrain vehicle, a jet ski, three speed boats, 38 water tankers, and two folding boats. These assets provide additional operational support and enable immediate response to communities and employees affected by emergencies and extreme weather conditions. Manila Water also has 64 desludging trucks that may be utilized to siphon floodwater in support

of local government units’ disaster response and recovery efforts. “As weather patterns become increasingly unpredictable, Manila Water has been maintaining resilient operations and ensuring uninterrupted service for our customers, even during the most challenging conditions,” said Manila Water Corporate Communications Head Dittie Galang. Through careful planning, proactive infrastructure protection, and sustained operational preparedness, Manila Water remains ready to address the challenges of the Habagat season while continuing to deliver essential water services to the communities it serves. Jonathan L. Mayuga

NEA lauds ZAMCELCO for lower system loss By Lenie Lectura @llectura

HE National Electrification Administration (NEA) has recognized the Zamboanga City Electric Cooperative (ZAMCELCO) for reducing system losses from over 20 percent to roughly 13 percent between January to July this year. According to NEA Administrator Antonio Mariano Almeda, ZAMCELCO implemented measures to reduce or eliminate non-technical system losses. “I am glad to restate that the measures taken show great promise,” Almeda said. “Our experience in ZAMCELCO and other ECs [electric cooperatives] now serves as the foundation for developing an institutionalized program to support and implement the envisioned system loss law, should this mandate the prohibition of system loss from pilferages to be passed on to the consumers,” he added. Through a P400-million investment from Crown Investment Holdings Inc. (CIHI) targeting infrastructure upgrades and anti-pilferage measures, ZAMCELCO serves as a model for impending regulations on passing system losses to consumers. “ZAMCELCO was hopeless before; its system loss was at 20 percent to 23 percent,” Almeda said. “All we did was look for those who didn’t have meters. I told

the investment manager to infuse capital, jack up their collection and reduce system loss.” ZAMCELCO holds a 25year investment contract awarded in 2018 to CIHI. Beginning November of 2025, the investment managers spent close to P400 million to reduce system loss, purchasing 45,000 meters and building anti-pilferage structures such as elevated meter clusters. ZAMCELCO also actively pursued criminal convictions, coordinating with law enforcement agencies like the National Bureau of Investigation in Zamboanga City to prosecute power thieves. To sustain such developments, Almeda encouraged ECs to utilize the reinvestment fund for sustainable capital expenditures to finance debt service tied to expanding and upgrading power systems under Energy Regulatory Commission (ERC)-approved capital expenditure plans. Meanwhile, Almeda said electric cooperatives are considering a phased approach with state support to address technical system loss tied to rural electrification. “There is a direct correlation between line extensions and implementing sitio electrification,” Almeda said. “The longer the line you extend, the bigger the technical system loss incurred.”

PNP reinforces disaster response teams in habagat hit areas

HE Philippine National Police (PNP) on Wednesday said that it has reinforced its disaster response operations as rains from the enhanced southwest monsoon or “habagat” continue to affect vulnerable areas. PNP chief Gen. Jose Melencio Nartatez Jr., in a statement, emphasized that police units remain deployed nationwide to assist communities in need. “Our priority is to keep our personnel and resources where they are most needed. We will continue rescue and evacuation operations, secure evacuation centers, clear critical roads, and deliver assistance to communities that remain affected,” he said. PNP teams have already rescued 180 individuals and supported 164 relief operations amid the incessant rains. A total of 689 policemen have been mobilized, with patrol vehi-

Teodoro . . Continued from A7

The residents also appealed for an end to what they described as political mudslinging, arguing that such attacks run contrary to the values they associate with Marikina. Teodoro’s legal team questioned the process surrounding a Department of Justice resolution involving the criminal complaints against him. Ma l longa said the defense found it unusual that the resolution was not prepared or signed by the DOJ panel that conducted the

cles, buses, and trucks providing “Libreng Sakay” services to transport stranded residents. “I commend our personnel who continue serving despite difficult conditions. I remind you to remain compassionate and professional even in difficult conditions,” Nartatez said. Police units were also tasked to intensify monitoring of floodprone areas and maintain order in evacuation centers. Coordination with local governments, disaster response agencies, and volunteers has been strengthened to ensure timely delivery of relief. “To our fellow Filipinos who are still waiting for assistance, your PNP is here to help. We will continue coordinating with local governments and other response agencies to reach you and bring you to safety,” Nartatez said. Rex Anthony Naval

preliminary investigation. Despite these concerns, Mallonga said Teodoro’s camp does not intend to cause delays and is prepared to answer the allegations before the courts. “We will not be the cause of delay,” she said, stressing that the defense intends to follow the trial schedule and challenge the accusations through the judicial process. The Department of Justice confirmed that five criminal cases have been filed against Teodoro, consisting of four counts of sexual assault and one count of acts of lasciviousness involving two female police officers who previously served as his security personnel.

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PHL POULTRY SECTOR EYEING EU STANDARDS AS IT EXPANDS By Ada Pelonia

ITH the Philippines strengthening its food safety system, Poland is training the spotlight on the European Union’s production standards in its poultry sector to expand bilateral trade. The National Poultry Council–Chamber of Commerce (KRD-IG) organized a study mission to Poland for representatives of the Philippine food industry last June as part of the “European Poultry–From Our Farms to Your Tables” campaign, co-funded by the EU. This, after the Philippine government signed into law the Animal Industry Development and Competitiveness Act in 2025, which the KRD-IG said reflected the growing importance of food safety and supply chain transparency in international trade. “The Philippines is one of the most promising markets outside the EU for the Polish poultry industry,” KRD-IG President Dariusz Goszczyński said. “We are pleased with the strong interest in the European production and food safety standards presented during the mission. We believe direct meetings with Philippine industry representatives will support further growth in trade,” he added. As such, the study mission to Poland focused on food safety, product traceability, and veterinary supervision in the European poultry sector. The delegation learned about the European poultry production system and veterinary supervision rules at the Polish Ministry of Agriculture and Rural Development. Experts also discussed risk-based con-

trols, export certification, and systems designed to ensure traceability across the supply chain. Furthermore, the study mission included production-site visits, which helped show how European quality and food safety standards work in practice. Delegates also explored quality control and traceability systems and discussed opportunities to expand trade between the EU, including Poland, and the Philippines. Meanwhile, Goszczyński said the group is working to scale down further the county-level regionalization scheme for bird flu to the municipal level to enable more efficient trade in poultry products. “We are also working to establish regionalization within the smallest possible area accepted by the Philippine authorities, which will be another important step towards expanding Polish poultry exports,” Goszczyński said. After receiving a system accreditation from the Department of Agriculture (DA) in 2023, Poland has also secured a regionalization agreement with the Philippines for poultry. According to KRD-IG, the Philippines is becoming an “increasingly important market” for the European poultry sector. Citing DG AGRI’s European Commission data, the group said Philippine imports of poultry meat from the EU reached 67,296 metric tons (MT) in 2025, compared with 3,486 MT two years earlier. Poland is the third-largest supplier of chicken meat, particularly mechanically deboned meat (MDM) shipments, to the Philippines.

Thursday, August 20, 2026

Alert system to help teachers prevent, stop bullying pushed

By Lorenz S. Marasigan

ORMER Cybercrime Investigation and Coordinating Center (CICC) Executive Director Alexander Ramos is pushing for the creation of a bullying and threat identification and escalation framework that would equip teachers to spot warning signs of student violence early, arguing that schools cannot keep waiting for tragedies before recognizing a problem. “We should not wait until bullying becomes violence before we recognize that there is a problem. Teach our teachers how to identify the levels, give them a clear escalation process and intervene while there is still an opportunity to prevent something worse from happening,” said Ramos, who also serves as advisor for cybercrime investigation at Scam Watch Pilipinas. His call came after a junior high school student shot and killed a

fellow student at the Ateneo de Zamboanga University Junior High School campus in Zamboanga City on August 18 before taking his own life. Two others were injured in the attack, which authorities are still investigating. Related stories on Zamboanga school shooting on pages A3 & A7. Ramos cautioned against automatically attributing the incident to bullying while investigators are still establishing the circumstances

and motive. He said, however, that the string of violent incidents in schools this year underscores the need for a system that helps teachers identify bullying, threats, intimidation and behavioral changes before they escalate. Under his proposal, the framework would give teachers practical indicators and clear protocols for intervention rather than relying solely on students to formally report incidents. It would distinguish ordinary disagreements from repeated bullying, identify patterns of intimidation and threatening behavior, and flag higher-risk situations involving threats of serious harm, references to weapons, self-harm or violent retaliation. “The problem is that bullying is often treated as either present or absent. Hindi ganoon kasimple [It’s not gthat simple]. We have to understand the degree. Is it teasing? Is it repeated humiliation? Is it social exclusion? Is there intimidation? Are there threats already? Is the child showing signs of retaliation or extreme distress? Teachers should know the difference,” he said. Ramos said bullying is often viewed too narrowly, with attention

focused mainly on physical aggression, when schools should also be able to recognize repeated humiliation, social exclusion, cyberbullying and significant behavioral changes among students. “Teachers are with these students every day. They may be the first people outside the family who can see that something is changing. But we cannot expect them to act on warning signs if we have not given them the tools to understand what those signs mean,” he said. He added that teachers should know when an issue can be handled at the classroom level, when guidance counselors and parents should be involved, and when a case must be elevated to school administrators or authorities. Physical security measures such as guards, bag inspections and weapons restrictions address only part of the problem, according to Ramos. “We have to stop the weapon from entering the school, but we also have to ask what happened before someone decided to bring that weapon in the first place,” he said. The Zamboanga shooting is the latest in a series of violent incidents See “Teachers,” A2

CSC rolls out new governance system across 60 agencies By Mary Jade Jadormio

STANDSTILL ON THE TRACKS A Philippine National Railways (PNR) locomotive sits idle beside a working-class community in Naga City, an evocative image of a railway system caught between its past and a promised revival. While PNR continues preparatory work for the P175.32-billion South Long Haul project linking Metro Manila and Bicol, the flagship railway remains without a firm financing partner, with the government now seeking potential US and Taiwanese investors. PNR is also working to restore and upgrade commuter services in southern Luzon and Bicol. JOEL C. PAREDES

ECC covers workers during calamities By Mary Jade Jadormio

ORKERS who fall ill or get injured while performing their jobs during floods and other calamities may claim benefits under the Employees’ Compensation (EC) Program, the Employees’ Compensation Commission (ECC) said. ECC released an advisory as heavy rains and flooding continue to expose workers who still have to report for duty to hazardous conditions. Among those facing greater risks are construction workers, delivery drivers, electric line workers, rescuers and others whose jobs require them to work

despite severe weather. Coverage extends to compulsory members of the Social Security System (SSS), including selfemployed workers, household workers and sea-based overseas Filipino workers. Meanwhile, Government Service Insurance System (GSIS) members, including uniformed personnel, are also covered by the program. Benefits available for qualified work-related cases include sickness and disability benefits, medical reimbursement and rehabilitation services. Families of workers who die because of work-related causes may also receive death and funeral benefits under the program.

These are separate from benefits workers may already receive from the SSS or GSIS, according to ECC. Private-sector workers may file their EC claims with the SSS, while government workers may submit claims through the GSIS. ECC also urged employers to keep their workers’ contributions updated to ensure access to available benefits. Executive Director Kaima Via B. Velasquez said workers should know what assistance is available when their jobs expose them to risks during severe weather. “During the rainy season and other calamities, it is important for workers to know their rights and benefits under the EC Pro-

gram and coordinate with the nearest ECC, SSS, or GSIS office if they become ill or are injured because of work,” Velasquez said. ECC said it is also strengthening coordination with government agencies and the private sector to reach workers requiring assistance more quickly, particularly during disasters. The commission, chaired by Labor Secretary Francis N. Tolentino, said the EC Program forms part of the government’s protection for workers who suffer workrelated sickness, injury or death. ECC said disaster preparedness should also include knowing where workers can seek assistance when illness or accidents strike on the job.

IXTY government agencies will begin testing a new governance framework aimed at measuring whether internal systems deliver results beyond mere compliance, under the Civil Service Commission’s (CSC) modernization program. CSC rolled out the Program to Institutionalize Meritocracy and Excellence–Embedded Systems Governance (PRIME-ESG) Foundations Course to representatives of the pilot agencies on Aug. 17 and 18 in Quezon City. Around 200 participants from national government agencies, state universities and colleges, government-owned and -controlled corporations, and local government units joined the two-day course. PRIME-ESG is designed to assess whether government systems are institutionalized, sustainable, fair and accountable, while linking these processes to organizational performance and public value. CSC Chairperson Marilyn B. Yap said the program expands the commission’s existing meritocracy initiatives by pushing agencies to look beyond procedural compliance. “PRIME-ESG builds on that foundation. It asks us to look beyond compliance and to examine whether our systems are truly working,

PNA FILE PHOTO

whether they are institutionalized and sustained, whether our decisions are fair and accountable, and whether our efforts ultimately contribute to better government and greater public value,” Yap said. The foundations course introduced agencies to PRIME-ESG’s framework, principles, terminology and operational mechanisms. It also laid out the responsibilities of agencies and officials involved in implementing the system. The rollout forms part of the Philippine Civil Service Modernization Project, a government initiative supported by the World Bank through official development assistance. Pilot agencies will next undergo Operations Manual 02–Governance Level Operations on Aug. 25 and 26. That phase will shift the focus from basic concepts to a more detailed review of governance-level processes within participating institutions. CSC said the 60 agencies will serve as the first testing ground for translating PRIME-ESG standards into actual government operations. Their implementation aims to help shape the broader rollout of a governance system aimed at improving institutional capability, accountability and service delivery across the civil service.

A10 Thursday, August 20, 2026 • Editor: Angel R. Calso

Opinion BusinessMirror

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Let the sunshine in: Why transparency should not stop at the bicam door

HE Department of Budget and Management’s endorsement of public scrutiny for congressional bicameral deliberations marks a welcome, if overdue, step toward genuine fiscal transparency. Budget Secretary Kim Robert C. De Leon’s statement that “greater transparency strengthens, not complicates, the budget process” acknowledges what civil society groups have long demanded: the people’s business should be conducted in full view of the people. (Read the BusinessMirror story: “DBM backs calls for transparent budget scrutiny, cuts to UA levels,” August 15, 2026).

Last year’s historic live-streaming of bicameral sessions on the P6.793-trillion 2026 budget proved that openness is not only possible but productive. Yet transparency cannot be selective. The DBM’s support for open bicam proceedings must be matched by Congress’s willingness to dismantle the institutional shadows where questionable budget practices have long thrived. Chief among these is the persistent scourge of unprogrammed appropriations—the so-called “shadow budget” that operates outside legitimate oversight. At P111.984 billion in the proposed 2027 budget, these standby funds represent executive discretion run amok. They function as a slush fund, activated not by legislative appropriation but by vague triggers like “excess tax collections” or foreign loans that may never materialize. This is not budgeting; it is budgeting by loophole. The constitutional question raised by Supreme Court Associate Justice Ramon Paul Hernando—that unprogrammed appropriations in any form are unconstitutional—should have settled this debate. Yet year after year, billions continue to be set aside for projects that lack dedicated revenue sources and escape the scrutiny that regular appropriations must endure. The DBM’s openness to “further reducing” these funds is tepid at best. De Leon’s “the lower, the better” formulation suggests a negotiation rather than an acknowledgment that these appropriations may be legally indefensible. The bicameral conference committee has earned its reputation as a “third chamber” where transparency goes to die. It is here, behind closed doors, that last-minute insertions like the Ayuda sa Kapos ang Kita Program (Akap) allocations materialize without committee deliberation or public input. The bicam has become the preferred venue for pork barrel by another name—where political horse-trading replaces policy analysis and patronage masquerades as public service. Opening these proceedings is not merely symbolic. When taxpayers can witness how their money is allocated, the calculus of accountability shifts. Lawmakers know they are being watched. The insertion of pet projects becomes politically costly. The quality of deliberation improves when participants know the public is listening. But transparency at the bicam level, while necessary, is insufficient. True budget reform requires eliminating—not merely reducing—the unconstitutional practice of unprogrammed appropriations. It demands that every peso of the P7.2-trillion proposed budget for 2027 be tied to a specific, existing revenue source and subject to the same legislative scrutiny. The DBM’s support for open bicams is a step in the right direction, but the agency must go further. If the department truly has “nothing to gain from making the budget difficult to understand,” it should lead the charge to abolish the shadow budget entirely. The constitutional imperative is clear: there should be no appropriation without authorization, and no authorization without accountability. Congress should seize this moment to institutionalize transparency, not treat it as a discretionary favor. Live-streaming should be mandatory, not optional. Unprogrammed appropriations should be zeroed out, not merely reduced. And the bicameral conference committee should be transformed from a backroom dealing chamber into a public forum where the people’s money is allocated in service of the people’s interests. The budget is the most concrete expression of national priorities. It is time we stopped funding them in the shadows.

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EO 121: Subsidizing the wrong country John Mangun

OUTSIDE THE BOX

HE Philippines went from the agung, the bronze gong once used to relay messages across a valley, straight to mobile phones, skipping the landline decades almost entirely. Filipinos never experienced the copper wire the rest of the industrialized world spent generations trenching under streets and threading through walls. Millions who never held a rotary phone now carry a smartphone in a back pocket.

Late arrival is a familiar Philippine strategy. The pattern worked for telecommunications because fixed hardwired infrastructure was obsolete by the time local capital was ready to move. Applying that same logic to electric vehicles, however, confuses skipping a technology with skipping the industrial base required to build it. In the nineteenth-century, the steam engine built rail transport. Developing nations did not need to invent the locomotive to benefit from it, but those that merely imported rolling stock still remained captive to foreign coal fields and foreign foundries. The value was in owning the coal and the steel and not in laying the railroad track. Executive Order 121, signed in July, promises P60 billion in incentives to position the nation within the electric vehicle global supply chain. The policy rewards domestic assembly, which means importing complete kits from abroad and fastening them together locally, known as “screwdriver manufacturing.” It is an arrangement that

pays for the final, lowest-value link of a supply chain owned entirely by foreign capitals. China spent two decades constructing that chain from the mine up. The International Energy Agency reports China controls 70 percent of global electric vehicle production and over 80 percent of battery cell output. Chinese battery cell prices sit more than 30 percent below those in Europe and more than 20 percent below the United States, the product of years spent refining lithium-iron-phosphate chemistries while Western competitors remained focused on costlier nickel-based alternatives. The European Union responded with tariffs up to 35 percent on top of its standard 10 percent auto duty. Chinese electric vehicle market share in Europe rose from 9.4 percent to 14 percent anyway. A tariff raises the price of an import without lowering the cost of the domestic alternative, taxing the outcome while ignoring the cause. Manila chooses to replicate this logic from the opposite side

The country was never going to miss the EV party. Filipinos will buy efficient transport at the right price point. The open question is whether the country will remain a customer paying for foreign industrial development, or become an owner of the supply chain supplying it.

of the balance sheet. Executive Order 121 offers up to P15 billion per vehicle model for assembly plant construction, plus a subsidy worth 12 percent of the individual car ex-factory price. Because these funds subsidize final assembly, the majority of that taxpayer capital flows directly to foreign component manufacturers mostly in China. A local assembly line stays vulnerable to external supply shocks that can shutter a plant without ever disturbing a mine. The Philippines already possesses the physical mineral asset. The country is the world’s secondlargest nickel producer, extracting roughly 370,000 metric tons in 2024, about 9 percent of global mine supply. Producers exported the overwhelming majority of that ore raw and unprocessed, historically bound for Chinese stainless steel smelters, though a growing share now flows to Indonesian processors instead. Still a bridesmaid with the dowry going to someone else’s smelter. Raw Philippine nickel is not battery grade. Turning that ore into battery precursors requires highpressure acid leach processing facilities, an intermediate step Executive Order 121 completely ignores. Developing that refining capability

could transform the country into an essential supplier regardless of where vehicles are bolted together. Indonesia used its mineral reserve position to demand foreign investment in domestic precursor and cathode facilities, banning raw ore exports. The Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) provides Manila with the regulatory tools to pursue a similar processing partnership within ASEAN countries. Executive Order 121 chooses instead to pursue final assembly, repeating the structure of the previous Comprehensive Automotive Resurgence Strategy program, whose funding Marcos vetoed from the 2026 national budget only months earlier, leaving its incentive obligations to participants unpaid. Manila can draft an incentive program twice in a decade and still not get the payment terms right. Consumer adoption advances without waiting for industrial policy. BYD captured 71 percent of the domestic electric vehicle segment in the first half of 2026. Among CAMPI-TMA member brands, electrified vehicle sales rose 132 percent to 31,381 units over the same period, even as the overall industry contracted 11.4 percent. The country was never going to miss the EV party. Filipinos will buy efficient transport at the right price point. The open question is whether the country will remain a customer paying for foreign industrial development, or become an owner of the supply chain supplying it. E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

Data center gas plants to boost US power emissions by 20% By Matt Day & Mark Chediak

ATA center developers are turning to bespoke natural-gas power plants, a development that promises to dramatically increase carbon emissions and make it harder for US technology companies to meet their lofty climate goals.

Ninety-nine proposed plants tracked by BloombergNEF would emit about 318 million metric tons of carbon dioxide annually if run at industry-standard rates, according to a Bloomberg News analysis. The entire US electric power industry emitted about 1,485 million metric tons of carbon last year, according to Energy Information Administration data, meaning one slice of data center infrastructure has the potential to lift US power sector emissions by 20%, and as much as a third should the new plants run flat out. The data center building boom

has already strained the US electricity system, prompting reliability concerns and moratoriums on new project approvals. With even greenlit facilities facing yearslong delays connecting to regulated electricity grids, data center developers are seeking alternatives. These include so-called behind-the-meter projects that can be permitted and built without the approval of utilities or the independent system operators charged with ensuring grid reliability. “There is immense, immense pressure on the whole sector to get power, and get it fast,” said Da-

vid Pomerantz, executive director of the Energy and Policy Institute, a

utility watchdog that promotes renewables. “They’re sort of agnostic if it is clean or dirty.” Not all of the proposed plants in the BNEF data are likely to be built. The rush to capitalize on AI developers’ seemingly bottomless demand for computing power has produced some phantom projects and longshot pitches. Bloomberg’s estimate of the likely emissions is based on 126 gigawatts of total planned on-site gas generation capacity tracked by BloombergNEF, an energy research firm owned by Bloomberg LP. The carbon footprint was calculated using a range of usage from an industry average of 60% to 100% for round-the-clock deployment, and a gas burn rate of a typical single-cycle gas generator. Emissions will vary depending on the use and the fuel-efficiency of See “Data,” A11

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Opinion BusinessMirror

Thursday, August 20, 2026 A11

Stanford faces intensified For whom the bill tolls: Parable of the ice seller The parable is the distribution DOJ scrutiny over system in miniature. The route is the franchise. The obligation to foreign donations visit every household is the duty to serve. Melting is technical loss; By Atty. Laurence R. Rogero

Fifth of eight parts

By Liam Knox & Janet Lorin

TANFORD University is facing increased scrutiny from the Justice Department over donations from foreign sources and its practices around international students and admissions, according to a senior agency official. Harmeet Dhillon, who leads the Justice Department’s Civil Rights Division, said Monday during an interview at Bloomberg’s Washington office that the department is gearing up to examine the university’s foreign funding policies more closely. Her department already opened an investigation into admissions practices at Stanford’s medical school in March. The Trump administration has been hammering elite universities and colleges, including Harvard and Columbia, over allegations of antisemitism and discriminatory admissions practices. Stanford, in Palo Alto, California, hasn’t received the same level of scrutiny that the Trump administration directed at many of its peers. Stanford isn’t getting passed over “because of their virtue,” Dhillon said in a wide-ranging interview. “It’s because I am staffing up.” Stanford receives the fourthhighest level of funding from foreign sources in “countries of concern” among US universities, according to data from the Department of Education. Dhillon also expressed concern over funding for professors’ work and for laboratories that deal with potentially sensitive information from a national security perspective. “I think it’s fairly obvious which of our elite institutions have a high proportion of foreign funding,” Dhillon said. “Stanford has a high proportion of foreign students from Asia and foreign funding.” Stanford said in a statement that it conducts “rigorous due diligence for all philanthropic gifts and sponsored research, with enhanced scrutiny applied to international sources, particularly those from countries of concern.” The university said it reviews “restricted party screening, assessment of ties to foreign governments, and evaluation of

Data. . .

continued from A10

the generator. A single-cycle model is now one of the most common types planned although it’s dirtier than combined-cycle plants that data center developers want but are struggling to get owing to a yearslong backlog for turbines. The BNEF data includes projects backed by the leading AI labs, OpenAI and Anthropic PBC, upstart data center operators that fashion themselves as AI specialists, as well as cloud-computing giants and investor groups seeking tenants. The projects tracked by BloombergNEF are spread across 22 states, from Alaska to Georgia. More than a third of them are in Texas, where ample oil and gas resources and a historically forgiving regulatory environment had developers rushing to erect data centers as fast as they can be built and powered. (Texas Governor Greg Abbott recently announced a pause in data center approvals). That includes plants backed by Amazon.com Inc. and Microsoft Corp., the largest sellers of rented computing power and data storage. Earlier this month, Cleanview, which tracks US power infrastructure and data center development, identified Amazon as the developer of an 8,000-acre site in Pecos County, which will become among the biggest single sources of carbon pollution in the US. About 30 miles (48 kilometers) to the west, past a pecan orchard and

Stanford is one of the richest US universities with a $40.8 billion endowment as of August 31, 2025, the most recent public value. A $1.1 billion gift in 2022 from venture capitalist John Doerr and his wife Ann was the largest in its history. research security implications, among other measures.” The university said it reserves the right to decline any gift—domestic or international—if the source of funds raises legal or ethical concerns. Stanford is one of the richest US universities with a $40.8 billion endowment as of August 31, 2025, the most recent public value. A $1.1 billion gift in 2022 from venture capitalist John Doerr and his wife Ann was the largest in its history. In June, Dhillon’s office launched a probe into Harvard University over possible foreign influence in its financial aid decisions. Dhillon said she plans to investigate more colleges over similar issues. After being sworn in last year, Dhillon sent letters to 50 top institutions of higher learning, scrutinizing their undergraduate admissions practices. She followed those with more letters seeking information from law and medical schools. T he Trump administration froze federal funding to more than half a dozen universities before Dhillon was sworn in, but she eventually took on a leading role in negotiating settlements to restore it, including with Cornell University, she said. Harvard, which is still locked in a legal battle with the administration over the freeze, has yet to make a deal with the administration, and the DOJ has continued to open lawsuits and investigations into the school. Dhillon said that while talks had slowed, she still sees a path to a possible settlement. Bloomberg scrublands dotted with oil derricks, Chevron Corp. is building Microsoft a gas plant to power a new data center complex on a 2,000-acre site. The two plants alone could generate more than 10 gigawatts of electricity, enough to power New York City on a hot summer day. Their combined annual emissions may be as high as 45 million metric tons of carbon dioxide equivalent, according to regulatory filings. That’s slightly less than half the cumulative emissions of Washington state, where both companies are headquartered. That fossil-fuel infrastructure threatens to push Big Tech’s climate goals out of reach. Both Amazon and Microsoft are big backers of clean energy projects, and have said they aim to zero out their contribution to the carbon emissions responsible for a warming planet. Those pledges were made before the artificial intelligence boom, at a time when technology companies were under pressure from employees and outside activists to do more to cut their emissions. Spokespeople for Amazon and Microsoft say their climate goals haven’t changed. Amazon is exploring its options for solar power and battery storage at the west Texas site. “It has been a remarkable shift in the last three years,” said Drew Wilkinson, a former Microsoft employee who organized his colleagues to advocate for tougher sustainability measures. “The companies who set the bar for corporate climate action are now bringing net new fossil infrastructure online at a breakneck pace. Few of us saw it coming.” Bloomberg

EFORE refrigerators reached a small town, every household bought ice from Aling Ising. The town gave her the only delivery route. In return, she had to serve every house, including the distant ones where the road was rough and the trip unprofitable. The arrangement made sense. Two competing ice carts would duplicate horses, helpers and storage while leaving the farthest households uncertain of service. Each morning Aling Ising bought one hundred kilos from the ice plant. By evening, her ledger showed only ninety-four kilos delivered and paid for. Four kilos had melted despite ordinary care. The sun was hot, the roads were long, and no cart could carry ice without some loss. Two more kilos had been chipped away, mismeasured or taken before reaching a paying household. Those losses were not alike. One came from physics. The other from conduct. But Aling Ising had paid for all one hundred kilos. She therefore spread the cost of the missing six among the households that did pay. A family at the end of the route objected: why should we pay for ice we never received? The mayor agreed. At the next town meeting, he announced that households would no longer be charged for missing ice. The applause came before the arithmetic. The ice plant still charged Aling Ising for one hundred kilos. The decree had removed six kilos from the household receipt, but not from anyone’s cost. Aling Ising could absorb the loss, raise the price of the 94 kilos delivered, reduce service to distant homes, spend less on insulated boxes, ask the town treasury for support — or become much better at preventing theft. Each choice put the burden somewhere different and created a different incentive. The missing ice did not vanish when it disappeared from the bill. As the last installment showed, a cost can arise in one place and appear on the bill somewhere else. Distribution makes that easier to see. The parable is the distribution system in miniature. The route is the franchise. The obligation to visit every household is the duty to serve. Melting is technical loss; chipping, mismeasurement and theft are non-technical loss. The customer is

captive, the distributor has paid for the full hundred, and the law must decide where the missing six belong. Of all the companies in the electricity chain, the consumer knows one best. The generator is anonymous. The grid operator is a rumor. The name on the bill—Meralco in the capital, a local utility or electric cooperative elsewhere—is the distributor. Because it collects the total, it also collects much of the blame. Distribution utilities and electric cooperatives are monopoly networks. They maintain local wires, transformers, meters and substations. Duplicating those networks would be wasteful, so the state permits recovery of prudent costs and, where applicable, a regulated return. The bargain runs both ways: captive consumers pay regulated rates; utilities must deliver efficient service. A monopoly does not risk losing customers to a cheaper network next door. Regulation has to manufacture that discipline. If every prudent-looking peso is simply added to rates, the utility has little reason to ask whether the same service could have been delivered for less. Some system loss is unavoidable. Excessive loss is different. Electricity generated but not billed to the responsible user is ultimately paid for by someone else. The regulatory task is to distinguish unavoidable loss from preventable loss and place each where the incentive to reduce it is strongest. The logic works both ways. If every missing kilowatt-hour can automatically be recovered, the incentive to invest in better meters, feeder upgrades, theft detection or maintenance weakens. But if no unavoidable loss can ever be recovered, a utility may spend more eliminating a loss than the electricity saved is worth. Good regulation sits between those errors. That is the purpose of performance-based regulation. Rate-setting should not simply ask what a utility spent. It should ask what

chipping, mismeasurement and theft are non-technical loss. The customer is captive, the distributor has paid for the full hundred, and the law must decide where the missing six belong.

efficient performance should cost. At each reset, targets should reflect reasonable benchmarks and comparable utilities, not merely improvement from the utility’s own past. Otherwise a poor baseline becomes a permanent excuse. The issue is immediate. Meralco’s distribution charge, unchanged since 2022, is under reset now—an application to raise it from P1.35 to P2.34 per kilowatt-hour. Whatever the outcome, the right question is the same: not merely what was spent, but what efficient service should cost. A rate case decides which costs belong to consumers, which risks belong to the utility, and how much inefficiency the public should finance. Those choices eventually become centavos on a bill. System loss is only one way inefficiency can migrate onto somebody else’s bill. Cooperative debt provides another. The mechanism is different; the incidence problem is the same. Electric cooperatives brought electricity to remote barangays, islands and mountain communities that private utilities had little commercial reason to serve. Geography and poverty can make their networks genuinely more expensive. But mission cannot become immunity. Some cooperatives are distressed because the territory is difficult. Others because collection is weak, governance is poor or debts accumulate. When debt is forgiven without fixing the cause, the cost does not disappear. It moves. EPIRA itself condoned roughly P18 billion of cooperative rural-electrification debt, assumed by PSALM in 2002. Two decades later, the Department of Finance reported that two Mindanao cooperatives alone owed PSALM more than P16 billion in unpaid power bills, attributing the problem to “financial mismanagement and low collection efficiency.” Now Congress is again being asked to forgive cooperative obliga-

tions. House Bill 7291 would condone accumulated interests, penalties and surcharges, including unpaid universal charges, while creating a P5-billion refinancing facility whose repayment may ultimately be recovered through regulator-approved charges. The point is not that distressed cooperatives should never receive relief. It is simpler: a debt does not disappear because Congress forgives it. If government does not fund the relief from the budget, somebody else pays. The universal charge is collected from electricity consumers nationwide. So, a customer of a well-run utility can end up paying part of another institution’s failure through his own monthly bill. That is one way somebody else’s inefficiency becomes your electricity price. Debt relief may still be justified where distress is genuine. But without structural reform it weakens the discipline that debt is supposed to impose. Relief should therefore come with conditions that bite: fit-andproper standards that can remove unfit managers, performance targets backed by disallowance, escrow arrangements that cannot casually be waived, and step-in rights government is actually willing to use. This is not an argument for private utilities over cooperatives. A private utility can perform badly if regulation is weak. A cooperative can perform well under difficult conditions. The test is simpler: which structure gives consumers reliable service at efficient cost? And the consumer should be asked to pay only for that. What the consumer is often asked to pay for, however, includes something else entirely: other people’s subsidies.

Atty. Laurence R. Rogero is an infrastructure lawyer with three decades of experience in the Philippine and international power and water sectors. He held senior positions at Mirant Philippines and Manila Water and served as President and CEO of Metro Pacific Water. He has consulted for the ADB and the World Bank. He is Lead Independent Director of Vivant Corporation, which has interests in energy and water, and lectures at the Ateneo de Manila University, where he is pursuing postgraduate studies in economics. He graduated magna cum laude from the UP School of Economics, earned his law degree from UP, and obtained an LL.M. with Distinction from Georgetown University as a Fulbright Fellow. The views expressed are his own and do not necessarily reflect those of any organization with which he is affiliated.

AI election backlash is shaping Wall Street’s stock By Matthew Griffin

HE backlash against artificial intelligence and the data centers needed to run it is becoming such a touchy election issue that Wall Street is being forced to factor it into its stock market recommendations.

Last week, strategists at Bank of America Corp. told clients that a strong showing by Republicans in November’s midterms would cause US equities to “rip.” The group led by Michael Hartnett put a particular focus on the reelection of Texas Governor Greg Abbott, cautioning that if Democrats gain control of the Senate and Texas governor’s mansion it would trigger a slump of more than 10% in the stock market next year, the technical definition for a correction. That follows earlier warnings from Evercore ISI and BCA Research that a populist response to AI could spell trouble for equities. “There is a tremendous amount of risk coming for the big AI sort of super leaders,” said Henrietta Treyz, cofounder of Veda Partners, an investment adviser and consulting firm in Bethesda, Maryland. Polls show that opposition to building new data centers is a bipartisan issue in the US, with voters worried about their impact on the environment and electricity prices. And elected officials are starting to take notice. Governors are reassessing tax credits for data centers, while a long

list of cities and counties, as well as the state of New York, have placed restrictions on their construction. State-level AI policies will become a model for the federal government, Treyz said. While comprehensive legislative action is unlikely in the next Congress, the end of the midterm campaigns will free lawmakers to address the issue, in turn shaping investors’ views of what’s to come, she said. That explains why BofA is so focused on the race in Texas between Abbott and Democratic State Representative Gina Hinojosa. The vote is a referendum on technology companies’ need to build out the infrastructure powering AI versus voters’ concerns about affordability, inflation and the impact of new data centers on their communities, the strategists said. Texas is among the US states with the most operating and planned data centers. It’s also a Republican stronghold. So any action against data center construction would be a clear signal that these concerns aren’t confined to the Democratic party. Abbott effectively paused electric

grid approvals for data centers this month, ordering regulators to audit every similar project that’s seeking access to the grid. But Hartnett still views his potential reelection as a bullish sign for AI. Other analysts, however, are concerned about what the audit requirement will mean for regulated utilities such as American Electric Power Company Inc. and energy generation firms like NRG Energy Inc. The audits are “the latest escalation of anti-data-center rhetoric in Texas and across the US with a clear focus on bringing new power (BYOG) for new data centers,” Jefferies analyst Julien Dumoulin-Smith wrote in a note to clients this month, calling Abbott’s move a “chilling signal” for power stocks. “BYOG” refers to “bring your own generation.” New York’s moratorium on new large data centers is part of the reason Baird recently downgraded the shares of Caterpillar Inc., which has become tied to the AI trade as companies building the facilities snap up its power generation equipment. On the other hand, power equipment companies such as GE Vernova Inc. and Bloom Energy Corp. will actually benefit as pressure grows for data centers to generate their own power instead of plugging into the grid, according to Morgan Stanley. “Policy action is building as community pushback to data centers intensifies,” a Morgan Stanley research

team led by Michelle Weaver wrote in a note this week. “We expect this conversation to spread as it gains relevance with voters ahead of the midterms.” Of course, none of this is to say that Wall Street is turning pessimistic on the AI trade as the S&P 500 remains near its all-time high and the beneficiaries of all the spending on the technology continue to dominate the market. The Philadelphia Stock Exchange Semiconductor Index, better known as the SOX, was down 3.7% in early trading Tuesday in the sector’s latest bout of sharp volatility. But the gauge is still up 72% in 2026, putting it on track for its best year since 2003 as capital expenditures keep flowing to chipmakers. The market will likely be volatile for AI infrastructure stocks in the near term, according to Aniket Shah, global head of Washington, sustainability and transition strategy at Jefferies. But if the federal government steps in and smooths out the patchwork of state-level regulations currently overseeing the technology, it will ultimately be a positive for investors, he said. “This is going to be a technology that will be regulated, like every other normal technology,” Shah said. “That is good for investing in AI in the long term, because you want regulation if you want a technology to have a future.” With assistance from Norah Rami and Jordan Fitzgerald /Bloomberg

Sports BusinessMirror

A12 Thursday, August 20, 2026

BAMBOL ON ASIAD: MORE THAN 4 GOLDS E By Jun Lomibao

PHILIPPINE Olympic Committee president Abraham “Bambol” Tolentino makes a bold prediction a month ahead of the games. POC PHOTO

XACTLY one month before the opening ceremony of the Aichi-Nagoya Asian Games and Philippine Olympic Committee (POC) president Abraham “Bambol” Tolentino made a bold prediction of how many gold medals Filipino athletes could win in the games’ 20th edition.

Even Carlos Yulo’s playing pickle ball L

By Josef Ramos

OOK who’s bitten by the pickleball bug? Paris Olympics double gold medalist Carlos Yulo. “It’s been raining all the time so I train here at home,” said Yulo, who bought a house in Alabang where he stays most of the time. “And I cross-train in pickleball, and even badminton.” Pickleball has gotten so popular that global sports icon are playing the leisure sport that’s a cross among tennis, badminton and table tennis. “These sports [pickleball and badminton] are very important for the mobilization of

muscles and mind as well,” said the 60-year-old three-time world champion, who plays with brother Karl Eldrew and friends but under the keen monitoring of physiotherapist Bethel Solano. “But of course, we always go down to serious training in Intramuros,” said Yulo, who’s hell bent at winning his first Asian Games gold medal in Aichi-Nagoya. “That’s the only one missing,” said Yulo, stressing he targets not just one but multiple gold medals to redeem himself after going empty in Hangzhou three years ago. “I want not just one, but more,” he said. “I will do my best to win the floor, vault and individual all-around.” The Yulo brothers will lead a 14-athlete gymnastics team to the Asian Games. They are Juancho Miguel Besana, Justine Ace de Leon, Zachary Cortins Nuñez, Levi Ruivivar, Kylee Kvamme, Chiara Dawn Andrew, Lauren Supnet and Haylee Garcia in artistic gymnastics; Breanna Labadan and Jasmine Althea Romulo in rhythmic gymnastics; and Jerry Ilano Jr. and Luvicar Janine Padilla in trampoline gymnastics. After the Asian Games, Yulo will head to the world championships in Rotterdam in The Netherlands from October 17 to 25.

“More than four,” said Tolentino on Wednesday at the Century Park Hotel during the press briefing for the games that open on September 29 at the 27,000 seat Paloma Mizuho Stadium. The Philippines won four golds in Hangzhou 2022 (2023) courtesy of pole vaulter EJ Obiena, jiu-jitsu athletes Meggie Ochoa and Annie Ramirez and the highlight men’s 5x5 basketball team that regained the title last won in 1962 in Jakarta. “I have high hopes we’ll have a bountiful harvest in Nagoya and Aichi,” he added. The Philippines is fielding more than 450 athletes in 38 of the 43 sports in the Asian Games program and the usual suspects are expected to produce gold medals.

They are Obiena, who raised Tolentino’s level of confidence after he cleared 5.91 meters in Poland the other day, and double Olympic gold medalist Carlos Yulo, who, the POC president added, will have younger brother Karl Eldrew as another gold potential. “And don’t forget Alex Eala,” said Tolentino, citing the recent success of the tennis sensation on the Women’s Tennis Association Tour and at Wimbledon. “Add the boxers and our jiu-jitsu athletes,” he said. Tokyo Olympics silver medalists Carlo Paalam and Nesthy Petecio are in the roster, along with Aira Villegas, who, like Petecio was a bronze medalist in Paris 2024.

MONA SARINES (left) and Kendra Garingalao are competing and having fun at the same time. JPGT PHOTO

Lastimosa PBA Player of the Week

while also dishing out three assists, and contributing two steals to beat the likes of Justin Arana of Converge and Chris Newsome of Meralco for the plum handed by sportswriters covering the PBA beat. “More than his offense, it’s his defense,” Magnolia coach LA Tenorio said about Lastimosa. “It’s good that he responds well. The players know he’s the one I often scold because I know what he’s capable of contributing to this team.” “I told him that learning is his responsibility now,” Tenorio said. “Whether something happens within the team or not, he’s the one I’m going to call out.”

Electric Dreams IT definitely isn’t the game of my generation, but for the past two years I have had a lingering interest in esports. Ever since I watched 40 episodes of The King’s Avatar on Netflix, I have been hooked— sometimes mildly, sometimes madly—on these games that have today’s youth in a chokehold. I find the battles themselves exciting—even if I still need to assist myself with resources like Valorant for dummies from time to time. But it’s the preparation—mental, psychological, physical and neurological—that intrigues me. Those who say esports is not sports need only to get deep into how the game is played and prepared for. Or think of why an even more (seemingly) passive game like chess is part of local and international competitions. Chess players may look like immoveable Rodin statues at times, but chess involves headto-head competition, ingenuous and astute thinking, brilliant strategizing and smart moves. All the action happens—physically— inside the organism. The fingers moving the pieces are just the last part of the operation. Same thing with esports—which is even more physical than chess. An esports player processes 400 actions per minute as he or she experiences

Eumir Felix Marcial will vie in his eighth professional fight in the US right on opening day of the Asian Games—Tolentino said he’s as confident as the Tokyo 2020 bronze medalist to prevail and immediately fly to Nagoya. “Eumir’s in the lineup and the arrangement is for him to make sure he wins in the US,” Tolentino said. “He’s committed to fight in the US to keep his international title, but he’ll have adequate time to recover because boxing in Nagoya starts on September 24.” Ochoa has since retired but remained on the national jiu-jitsu coaching staff, leaving Ramirez to defend his title in the games that end on October 4.

Team North sustains drive in Finals foursome

EVEN Olympic champions like Carlos Yulo is enjoying the now popular sports leisure activity. IG PHOTO

AGNOLIA ended the first part of the Philippine Basketball Association (PBA) 50th Season Governors’ Cup on a high note—thanks to Jerom Lastimosa. The Hotshots guard scored a career-high 30 points last Saturday to lead his team to a 115-101 win over Phoenix Super LPG. With Lastimosa in charge, Magnolia won its third straight game after a 1-3 win-loss start before the league takes a six-week break. Lastimosa’s strong play allowed him to capture the PBA Press Corps Player of the Week for the period August 11 to 14. Lastimosa shot 11-of-14 from the field,

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

JEROM LASTIMOSA delivers big numbers for the Hotshots. PBA IMAGES

surges of adrenaline, spikes of energy and intense physical strain. Mental focus and tunnel vision aid split-second decisions. Muscles twitch due to intense stress. Players experience fatigue due to overworked finger and forearm muscles. Eye strain and dry eyes, tight shoulders, sore wrists and stiff backs are part of the territory. Whoever says esports is just playing an e-game for fun should examine the sport deeper. Just like in other sports, training to play esports requires a strict daily routine, discipline and rigorous training. Mechanical warm-ups, deathmatches, rigorous practice in the game’s range (attack range, casting range, weapon effective range, positional range) and reviewing mistakes are de rigueur. Special talents like visual processing (to track dozens of fast-moving targets and mini map dots in milliseconds), pattern recognition (to predict enemy moves based on past habits or sounds), risk calculation (to attack or retreat), emotional control (staying calm after a loss to avoid distraction or panic) and good communication (giving clear calls to teammates when needed) are indispensable. The fascination with esports has been so widespread that the University Athletic Association of the Philippines (UAAP) included esports in its sports line-up, launching its first ever esports tournament in August 2024. The tournament acted as a

EAM North fought for every point down the stretch to escape with a crucial 7-5 victory over South in Foursomes in Day 2 of the International Container Terminal Services Inc. North vs South Elite Junior Philippine Golf Tour Championship at the Pueblo de Oro Golf and Country Club in Cagayan de Oro on Wednesday. North surged to an imposing 8-4 lead midway through the alternateshot format, but South refused to fold and pulled within striking distance at 4-6 and needed only to win the final two matches to salvage a dramatic

thrilling bridge between Seasons 86 and 87. This year, the esports tournament again serves as the herald of Season 89, alongside U16 Boys Basketball. The same three esports titles—Valorant, Mobile Legends Bang Bang (MLBB) and NBA 2K—are being played in between Seasons 88 and 90. Valorant hostilities have begun (August 13) and were supposed to blitz through four consecutive days, but rains and floods have interfered, however. Only one complete game day featuring four teams has been played. The August 17 schedule could only accommodate one game, thanks to the aforementioned floods and rains. So far, the University of Santo Tomas, University of the East and the University of the Philippines emerged winners on opening day, while defending champions De La Salle University drew a tie with National University. Ateneo, Adamson University and Far Eastern

overall draw for the day. But North held its nerve when the pressure peaked. Jakob Taruc and Nathan Belandres battled from three holes down in the stretch and forced Clement Ordeneza and Sebastian Sajuela to an all-square finish, while Mona Sarines and Kendra Garingalao also halved their match against Tashanah Balanguan and Precious Zaragosa—both matches ending level in the 15-18 division. Those two halves proved decisive. Instead of completing the comeback, South was forced to settle for a split of the day’s final two points, leaving North with a 7-5 victory to preserve its advantage heading into the remaining singles matches. North consequently stretched its overnight three-point cushion to five points, 14 1/2-9 1/2, putting itself in a strong position heading into the deciding singles matches of the North-South duel on Thursday. North team captain Joey Anciano said his side’s comeback in the boys’ 15-18 category was crucial in salvaging a draw and making for an exciting day of matches. “We came from 3-down in the boys’ 15-18 to force a draw,” Anciano said. “So definitely, the matches today were very, very exciting. Kudos to the other team also, which put up the lineup well.” The result underscored the competitive nature of the NorthSouth showdown, with neither side willing to give ground despite North’s early control and South repeatedly staring at a widening gap. Like in Day One, North came out firing, winning four of the first five matches, including a sweep of the boys’ 11-14 division.

University lost their first games, but the Soaring Falcons were able to pull off a victory over the Blue Eagles on August 17. Played in a high-tech modern arena (the MVP Studio in Mandbaluyong City), the esports atmosphere is electric, with giant LED screens and flashing laser lights in a semi-darkened room, throbbing with excitement that is heightened by loud cheering. Two soundproof team booths are on opposite sides of the stage, with players wearing headsets and sitting on gaming chairs. Stadium seats are tiered, with cheering paraphernalia being waved here and there, as hyperactive, colored spotlights sweep the room. Shoutcasters call the shots, describing each intense move and moment with hype and drama. The climactic last seconds are cloaked in a hush, especially in close games, as gamers of the two teams make their final assault, or pull off their prize-est moves for last. Then the arena erupts in max volume shouts and cheers. Except for the smaller, tighter venue, the deep, booming bass and the neon colors flashing on screen, an esports game day has all the drama, passion and team pride of UAAP sports that are played in open fields or cavernous arenas. School spirit still drives the action in this house filled with buzz and mad love. That’s part of the magic and the unique attraction of collegiate esports.

Tolentino said he’s confident Olympic prospect Chino Sy Tancontial could win a judo gold medal, in as much the same way as Gilas Pilipinas of coach Tim Cone. As president of PhilCycling, Tolentino also has high hopes in BMX racing where Daniel Caluag— the country’s lone gold medal winner in Incheon 2014—returns to backstop Patrick Coo, bronze medalist in Hangzhou. “But don’t forget Kyla Sanchez,” Tolentino stressed. A former Olympian for Canada, Sanchez was the best Asian finisher at fifth place in the women’s 50m freestyle and 100m freestyle at the recent Pan Pacific Swimming Championships in Irvine, California.

ALEX EALA makes her presence felt on the global stage. AP

Eala, Centeno scribes’ best choices in July

ENNIS darling Alex Eala served aces and billiards whiz Chezka Centeno knocked down solids and stripes with cold efficiency to lead a sterling campaign for Filipino athletes in July. Eala, the 21-year-old lefty whose impressive skills and lovely personality made her a global icon, continued to make her mark and delivered a performance to remember in Wimbledon. She made history as the first Philippine player—male or female— in the Open era to reach the fourth round of a Grand Slam in London, an accomplishment she highlighted with a royal upset of defending champion Iga Swiatek, 3, 7-6 (9), 6-2, which earned raves not only from Filipinos but also the sport’s icons and foreign experts. Eala’s feat at Wimbledon served as an appetizer to another historic feat by capturing the DC Open in Washington. She kicked off her DC campaign with back-to-back upsets of Paris Olympics gold medalist Quinweng Zheng of China and defending champion Leylah Fernandez of Canada to reach the quarterfinals just before July ended. Centeno, meanwhile, reaffirmed the country’s status as the hotbed of pool as she added the title in the World Pool Association (WPA) Women’s 8-Ball World Championship in Green Bay, Wisconsin, to her collection. The 27-year-old Centeno beat grizzled veteran Kelly Fisher of Great Britain, 9-6, to start her reign as 8-ball queen. She previously reigned as world 10ball titleholder twice (2003 and 2025) and shared the mixed team gold in the WPA Teams 10-Ball World Championship with fellow world champions Rubilen Amit and Carlo Biado and fastrising Jeffrey Roda last February. For their accomplishments, Eala and Centeno are feted as the top achievers of the Philippine Sportswriters Association for July. Joining them in the honor roll were pole-vaulter EJ Obiena, young weightlifter Alexsandra Diaz, the Manila and Sagay Pony baseball teams, jiu-jitsu queen Annie Ramirez and the Philippine Volcanoes.

Companies BusinessMirror

Editor: Jennifer A. Ng

Thursday, August 20, 2026

ABS-CBN more optimistic about business prospects

By Lorenz S. Marasigan

@lorenzmarasigan

BS-CBN Corp. expects its current momentum to carry the company back to profitability, its top executive said, after slashing its debt by more than half, cutting overhead spending by 54 percent, and rebuilding revenues to their highest level since it lost its broadcast franchise in 2020. “We recognize that we are not yet where we need to be,” ABS-CBN President and CEO Carlo Katigbak told shareholders at the company’s annual stockholders’ meeting on Wednesday. “We continue to believe with complete confidence that the momentum you are seeing will carry us through to profitability.” The media conglomerate has brought down its outstanding debt to just under P8.5 billion from P20.5 billion in 2019, excluding Sky Ca-

ble Corp.--a 58-percent reduction achieved largely through asset sales, Katigbak said. The company has also fundamentally restructured its cost base. General and administrative expenses and manpower costs, excluding Sky, fell to a combined P6.9 billion in 2025 from P15 billion in 2019, before the franchise loss. Revenues excluding Sky reached P12.6 billion last year, the highest since the shutdown of its free-to-

air operations. This compares with P9.3 billion in 2021, the first full year without a franchise, though still well below the P33.2 billion it generated in 2019. Recurring net loss excluding Sky, before one-time gains and losses, narrowed to P2.5 billion in 2025 from P8.3 billion in 2020, with losses shrinking every year since. “This is a new ABS-CBN that we are building, faithful to our mission of public service, but adapting to a different time and circumstance,” Katigbak said. “We no longer depend on owning platforms to reach audiences, instead building partnerships that would have once seemed impossible.” Among these is the company’s collaboration with longtime rival GMA Network Inc. on “Pinoy Big Brother,” as well as content deals with Amazon Prime, where its mini-series “The Silent Noise” won Best Asian Content at the Global OTT Awards 2026, and Netflix, where “Sosyal Climbers” topped the Philippine charts and cracked the platform’s global top 10 for non-English films. The company’s P-pop group BINI has logged 2 billion streams and

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became the first all-Filipino group to perform at Coachella. The group was also tapped by Dreamworks Animation and Universal Pictures to perform the soundtrack for the film “Forgotten Island.” Star Cinema produced the three highest-grossing Filipino films of 2025, with a combined box office of P900 million, while the company’s YouTube channel has grown to over 55 million subscribers, the largest entertainment channel in Southeast Asia. Katigbak said the company’s survival is a test of its public service mission. “It is a chance to decide whether ‘In the Service of the Filipino’ was just a compelling slogan that served us well in good times, or if it is the genuine reason for our existence, proven because we embraced it in impossible times.” On a consolidated basis with Sky, ABS-CBN posted revenues of P15.8 billion in 2025, down 9 percent from P17.3 billion, as the cable TV and broadband segment continued to lose subscribers. Consolidated net loss narrowed 23 percent to P4.7 billion from P6.1 billion the prior year.

Hitachi Construction Machinery Co.’s shares fell the most in almost three weeks after its major shareholder Hitachi Ltd. offloaded all its holdings, in the latest move by the Japanese conglomerate to divest some of its assets to focus on core businesses. Shares of the machinery firm dropped as much as 3.9 percent, while Hitachi shares fell as much as 5.1 percent, the most since June 8. Hitachi Construction shares were sold to investors at a 4.7 percent discount, according to people familiar with the matter. There were blocks of the shares traded at ¥5,232 on Wednesday morning, Bloomberg-compiled data showed. Hitachi will sell its 10.09 percent stake in the machinery company, according to a release on Tuesday. Photo shows a large track hoe unloading buckets full of excavated rock into a dump truck on a section of the construction site of the 16 mile bypass between US Route 23 and US 52 in Scioto County, Ohio on July 26, 2017. TY WRIGHT/BLOOMBERG NEWS

Sembcorp keen on PHL indusrial park

INGAPORE-BASED Sembcorp Industries Ltd. is exploring New Clark City in Tarlac as a potential site for an industrial park, bringing to the Philippines its experience in developing industrial estates across Asia. The company recently visited New Clark City in Capas, Tarlac to assess the potential for its proposed investment, as it considers replicating its industrial park model in the Philippines. Sembcorp’s industrial park business is particularly well established in Vietnam, where it developed the Vietnam Singapore Industrial Parks (VSIP) with local partner Becamex IDC Corp. The company also has industrial park operations in China and Indonesia. As of May, the VSIP portfolio had reached 26 industrial parks covering more than 14,300 hectares, according to Sembcorp. The proposed Philippine project would position the company within New Clark City, which forms part of the Luzon Economic Corridor connecting Subic, Clark, Manila and Batangas. New Clark City is being developed as a site for manufacturing, logistics, infrastructure and other investments, with the Bases Conversion and Development Authority (BCDA) promoting the area to potential investors. For Sembcorp, the Philippines could provide another market for its industrial park business as the country seeks to expand its manufacturing base and attract more investments into economic zones. Sembcorp Industries is involved in energy and urban development, including industrial park development and utilities. Its industrial parks typically combine manufacturing and commercial facilities with supporting infrastructure and utilities, allowing companies to establish operations within integrated industrial estates. A project in the Philippines would also add to the country’s efforts to attract established industrial park developers as competition for manufacturing and supply-chain investments grows across Southeast Asia. For now, Sembcorp has yet to announce a specific investment amount, development timetable or final site for the proposed Philippine industrial park. Bless Aubrey Ogerio

EPSON TO MAKE INDUSTRIAL ROBOTS IN BATANGAS PLANT By Bless Aubrey Ogerio @blessogerio

PSON Precision Philippines Inc. (EPPI) is investing more than P40 million in a new robotics manufacturing project in Batangas, with commercial operations targeted for March 2027 and an expected workforce of 118 employees. The project will be located at the Lima Technology CenterSpecial Economic Zone (LTC-SEZ) and will expand Epson’s registered activities in the country to include the manufacture of industrial robots and related components. The Philippine Economic Zone Authority (Peza) and EPPI signed a supplemental agreement last August 13 covering the new manufacturing activity. The project will produce Selective Compliant Articulated Robot Arm (SCARA) and six-axis industrial robots, as well as component parts, sub-assemblies for knockdown production, spare parts

and after-sales service parts. Epson has been registered with Peza since 1995. The company is the world’s largest SCARA robot manufacturer and is also involved in precision automation. The new project adds robotics manufacturing to Epson’s existing Philippine operations as demand for industrial automation expands across manufacturing industries. For its part, Peza said the expansion demonstrates how existing investments can develop into additional manufacturing activities over time, while also generating employment. Japan remains an important source of foreign investment for the Philippines, particularly in manufacturing, electronics, machinery and automotive industries. The new robotics project also comes as the Philippines seeks to attract higher-value manufacturing activities and deepen its participation in regional production and supply chains.

Pag-IBIG, City Government of Naga help employees become homeowners

AG-IBIG Fund and the City Government of Naga began turning over affordable homes Tuesday to qualified city government employees who are acquiring their properties through Pag-IBIG Housing Loans. The turnover marks the first group of city employees to become homeowners through a partnership signed just two months ago to help public servants, particularly those in lower salary grades and first-time homebuyers, gain greater access to affordable housing and financing. The Naga City Employees’ Housing Project initially covers 576 housing units at BellaVita Naga in Barangay Pacol, each priced at an affordable ₱350,000. Making the homes even more affordable, qualified employees may purchase them through Pag-IBIG Housing Loans at a subsidized interest rate of just 3% per annum for the first five years under the Expanded Pambansang Pabahay para sa Pilipino (Expanded 4PH) Program. Naga City Mayor Maria Leonor “Leni” G. Robredo said the project addresses a long-standing aspiration of the city government to provide affordable housing opportunities for its employees, particularly those who previously found homeownership beyond their means. “For many years, it has been our aspiration to provide housing opportunities for our city government employees, but affordability has always been a challenge, especially for those in the lower salary grades. Through our partnership with Pag-IBIG Fund and BellaVita, that aspiration is now becoming a reality. With Pag-IBIG Fund providing affordable financing terms and a subsidized 3% interest rate, we were able to make homeownership possible for employees who previously could not afford it,” Robredo said. “We especially appreciate how quickly this partnership has delivered results. Just two months after signing our agreement, more than 100 housing loan accounts have already been taken out, and we are very happy to see our employees and their families becoming homeowners. We hope to complete the takeout of all 576 housing units by October, and eventually extend the same opportunity to our teachers, uniformed personnel, and other workers in Naga, including those in the informal sector who are also PagIBIG Fund members,” she added. Robredo also expressed appreciation to Department of Human Settlements and Urban Development Secretary Jose Ramon P. Aliling for

his leadership in advancing the Expanded 4PH Program and expanding affordable homeownership opportunities for Filipino workers. The turnover coincided with Jesse Robredo Day, which honors the former Naga City mayor and interior secretary’s legacy of good governance, leadership and public service. Pag-IBIG Fund and the City Government of Naga signed a memorandum of understanding in mid-June to help city employees acquire affordable homes. Pag-IBIG Fund, Naga City and BellaVita subsequently put in place a government-to-government documentation arrangement to streamline loan processing and facilitate the takeout and turnover of homes to qualified employee-beneficiaries. Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta said the Naga project, which brings together the city government, Pag-IBIG Fund and Ayala Land’s affordable housing development in Naga, shows how national and local government can work with the private sector to make affordable homeownership more accessible to working Filipinos. The initiative comes as Pag-IBIG Fund further strengthens its collaboration with Ayala Land, most recently through a memorandum of understanding with its residential brands Avida and Amaia to expand quality housing choices and Pag-IBIG financing options for Filipino workers. “We continue to heed President Marcos’ direction to widen access to affordable homeownership for working Filipinos, including government employees who devote their careers to public service. What we are seeing in Naga shows how this direction can be translated into actual homes when a local government identifies the needs of its workforce and government institutions align housing delivery and affordable financing around those needs. This is the one-government approach we are advancing, with national and local government working together to help more Filipinos become homeowners and build better, more dignified lives,” Acosta said. “We thank Mayor Leni Robredo and the City Government of Naga for working hand in hand with PagIBIG Fund to make this possible. For us, partnerships should lead to more than agreements on paper. What matters most is seeing our members receive the keys to homes of their own and knowing that, through our shared efforts, more Filipino families are gaining the security and opportunity to build better lives,” Acosta added.

Companies BusinessMirror

Thursday, August 20, 2026

Tim Ho Wan acquires WDI interest in US joint venture

By VG Cabuag

@villygc

OLLIBEE Foods Corp. on Wednesday said its wholly owned brand Tim Ho Wan has bought out WDI Corp., its partner in North America, while the Japanese firm will take over the restaurant brand in its home soil. Under the agreement, Tim Ho Wan will acquire WDI’s 30-percent interest in the joint venture that operates the Tim Ho Wan platform across North America, moving from majority partner to sole owner. This transaction gives Tim Ho Wan full ownership and control of the platform, with the ability to independently operate, develop, franchise and appoint franchise partners across the region, an important step in accelerating the brand’s growth in one of the Jollibee Group’s priority international growth markets. Tim Ho Wan will pay WDI aggregate consideration of about $5.05 million.

Upon completion, Tim Ho Wan’s North America platform will include five stores in the United States, comprising three companyowned stores and two franchised locations with further expansion planned through franchising. Tim Ho Wan will take over the New York and Hawaii stores and assume management of the Las Vegas and Texas locations, strengthening its US footprint. “With full ownership of our North America platform, we can move faster, invest with greater flexibility and expand the brand with a sharper focus on long-term value creation,” Yeong Sheng Lee, CEO of Tim Ho Wan, said.

“This realignment allows us to sharpen our focus on markets where we see the greatest longterm opportunity, while enabling our valued partner WDI to do the same in Japan. We are pleased to have reached an outcome that strengthens both businesses and supports the continued growth of the brand.” In Japan, WDI will then acquire Tim Ho Wan’s 30-percent interest in the Japan joint venture that holds the unit franchise rights for Tim Ho Wan. WDI will now own 100 percent of the franchise rights vehicle responsible for developing and overseeing the Tim Ho Wan brand in the Japanese market. It will pay Tim Ho Wan

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some 166.1 million yen or about $1 million. It currently operates four Tim Ho Wan stores in Japan, with three stores in Tokyo and one in Osaka, including the brand’s flagship Hibiya location. This is a valuable proof point, confirming the brand’s Michelin-recognized appeal travels well beyond Hong Kong. “Japan is our home market, and this realignment allows WDI to take full ownership of Tim Ho Wan’s operations here, so we can fully apply our operating expertise and capabilities to grow the brand for Japanese diners,” Ken Shimizu, president of WDI, said. “We’re proud of what we’ve built together with the Tim Ho Wan and Jollibee group teams, and equally pleased that our partnership continues, with THW remaining the franchisor, WDI looks forward to continuing on as a valued franchise partner.” WDI is a listed restaurant company headquartered in Tokyo. Founded in 1954, the company develops, operates, and manages a diverse portfolio of restaurant brands across Japan and international markets.

August 19, 2026

NAV ONE YEARTHREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM GROWTH FUND, INC. -A218.26 -0.98% 1.92% 0.17% -2.24% 1.95% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 2.2964 11.48% 17.1% 9.88% 4.71% 6.24% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 2.8955 -1.46% 0.23% -0.58% -4.15%1.56% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.7772 1.55% 4.77% 1.06% N.A5.86% FIRST METRO CONSUMER FUND, INC. -A 0.5184 -12.48% -6.38% -6.73% N.A -6.78% FIRST METRO SAVE AND LEARN EQUITY FUND, INC. -A 4.4199 -4.09% -1.22% -1.6% -2.21% 1.08% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A 0.665 -0.79% -0.88% -1.5% N.A 3.49% MBG EQUITY INVESTMENT FUND, INC. -A 77.12 -0.84% -2.46% -4.47% N.A -13.79% PAMI EQUITY INDEX FUND, INC. -A 43.5107 1.57% 0.93% -0.24% -1.98% 5.2% PHILAM STRATEGIC GROWTH FUND, INC. -A 457.65 -1.31% 1.52% -0.34% -2.15% 1.81% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.6315 7.54% 11.87% 7.36% 2.11% 4.5% PHILEQUITY FUND, INC. -A36.9903 4.83% 3.64% 2.04% -0.27% 7.43% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A 0.985 9.26% 5.33% 2.63% N.A 10.96% PHILEQUITY PSE INDEX FUND, INC. -A 4.7083 2.51% 2.01% 0.78% -1.07% 5.34% PHILIPPINE STOCK INDEX FUND CORP. -A 774.55 2.06% 1.62% 0.49% -1.31% 5.39% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.7204 3.46% 2.32% 0.84% -2.63% 2.61% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 3.2387 -5.29% -0.7% -1.54% -2.78%0.91% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.8685 1.92% 1.22% 0.11% -1.56%5.4% UNITED FUND, INC. -A3.768310.22% 7.29% 3.55% 0.64% 14.63% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) COL EQUITY INDEX UNITIZED MUTUAL FUND, INC. -A 1.087 1.99% 1.63% N.A N.A 5.24% COL STRATEGIC GROWTH EQUITY UNITIZED MUTUAL FUND, INC. -A 1.0817 1.2% N.A N.A N.A 3.66% PHILEQUITY ALPHA ONE FUND, INC. -A 0.9453 -2.01% -2.21% -2.47% N.A 0.11% PHILIPPINE STOCK INDEX FUND CORP. -A 934.6 2.05% 1.41% N.A N.A 5.43% EXCHANGE TRADED FUND (SHARES) FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 105.685 2.3% 1.84% 0.81% -0.88%5.67% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.2755 34.38% 15.95% 1.98% 3.53% 24.5% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $2.4926 18.77% 16.88% 6.54% 9.06% 12.06% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (UNITS) PHILEQUITY GLOBAL FUND, INC. -A,2 1.073 N.A N.A N.A N.A N.A BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2094 3.39% 1.24% 0.29% -0.86% 3.23% ATRAM UNICAPITAL DIVERSIFIED GROWTH FUND, INC. -A 1.734 8.56% 5.91% 0.85% -0.63%5.97% FIRST METRO SAVE AND LEARN BALANCED FUND, INC. -A 2.5276 0.42% 0.65% -0.28% -0.62%2.66% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A 0.233 1% 6.7% 4.39% N.A0.47% NCM MUTUAL FUND OF THE PHILS., INC. -A,1 2.021 2.65% 1.22% 0.92% 0.38% 0.92% PAMI HORIZON FUND, INC. -A3.8056 1.54% 3.22% 0.88% -0.23% 0.41% PHILAM FUND, INC. -A16.0759-1.08% 1.93% -0.3% -0.81% 0.41% SOLIDARITAS FUND, INC. -A2.1414 1.17% 2.4% 1.05% 0.02% 1.96% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.4507 -1.73% 1.17% -0.27% -1.2%0.79% SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9068 -2.36% 0.97% 0.7% -0.95% -0.43% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) BPI WEALTH BUILDER MULTI-ASSET MUTUAL FUND, INC. -A,3 10.75 N.A N.A N.A N.A N.A SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A 0.9826 0.81% 2.04% 0.2% N.A 0.39% SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A 0.8466 -1.51% 0.68% -0.88% N.A 0.57% SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A 0.8163 0.18% -1.26% N.A -1.84% 0.63% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03368 2.06% 1.51% -2.59% -0.69% -1.81% PAMI ASIA BALANCED FUND, INC. -B $1.1701 -1.22% 9.94% 1.55% 2.23% -3.3% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $5.7356 12.03% 12.33% 3.76% 5.92%7.44% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.2115 4.96% 7.05% 0.44% 2.35%2.37% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM PESO BOND FUND, INC. -A 424.27 2.63% 3.26% 2.62% 2.52% 1.02% ATRAM CORPORATE BOND FUND, INC. -A 1.9845 2.24% 1.2% 0.61% 0.39% 1.33% COCOLIFE FIXED INCOME FUND, INC. -A 3.6068 1.76% 3.06% 2.19% 3.22% 0.2% EKKLESIA MUTUAL FUND, INC. -A 2.4416 0.86% 3.1% 1.53% 1.39% -0.45% FIRST METRO SAVE AND LEARN FIXED INCOME FUND, INC. -A 2.5103 -1.31% 1.38% 0.56% 1.1%-2.28% PHILAM BOND FUND, INC. -A4.5249 -0.34% 2.75% 0.16% 0.69% -1.85% PHILAM MANAGED INCOME FUND, INC. -A 1.5427 3.18% 4.6% 3.18% 2.94% 1.49% PHILEQUITY PESO BOND FUND, INC. -A 4.3205 1.46% 3.05% 1.66% 1.87% 0.17% SOLDIVO BOND FUND, INC. -A1.1299 2.4% 2.86% 1.73% 1.64% 0.84% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.4525 -1.8% 2.36% 1.43% 1.9% -2.49% SUN LIFE PROSPERITY GS FUND, INC. -A 1.8316 -1.62% 1.97% 0.91% 1.31% -2.8% CORPORATE DEBT VEHICLE (UNITS) ATRAM UNITIZED CORPORATE DEBT FUND 2 -A,5 1.0076 N.A N.A N.A N.A N.A PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ALFM DOLLAR BOND FUND, INC. -A $532.74 2% 2.88% 1.78% 1.93% 0.69% ALFM EURO BOND FUND, INC. -A Є223.06 0.3% 1.85% 0.23% 0.53% -0.32% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.0565 -1.88% 0.46% -2.59% -0.63% -1.72% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0258 -1.15% 2.16% -0.31% 0.24%-2.64% PAMI GLOBAL BOND FUND, INC. -B $1.048 -1.56% 7.73% -0.1% -0.62% -1.13% PHILAM DOLLAR BOND FUND, INC. -A $2.4239 -0.43% 3.22% -0.85% 0.48% -2.26% PHILEQUITY DOLLAR INCOME FUND, INC. -A $0.0636282 -0.32% 1.67% 0.17% 1.12% -1.27% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.86 -0.93% 2.32% -2.24% -0.77%-2.48% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) AIB MONEY MARKET MUTUAL FUND, INC. -A 1.1854 2.73% N.A N.A N.A 1.63% ALFM MONEY MARKET FUND, INC. -A 152.51 4.21% 4.09% 3.16% 2.85% 2.45% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A 1.2226 3.45% 3.78% 3% N.A 2.08% SUN LIFE PROSPERITY PESO STARTER FUND, INC. -A 1.514 3.69% 3.59% 2.97% 2.76% 2.19% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM MONEY MARKET FUND, INC. -A 116.85 4.18% 4.32% N.A N.A 2.54% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.1941 2.54% 3.31% 2.45% N.A 1.51% FEEDER FUNDS PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A 48.3267 8.3% 4.15% N.A N.A 4.81% MBG ASIA FRONTIER FEEDER UMF, INC. -B,4 1.8256 N.A N.A N.A N.A N.A SUN LIFE PROSPERITY WORLD EQUITY INDEX FEEDER FUND, INC. -A 2.5806 31.68% 22.55% 14.1% N.A18.92% SUN LIFE PROSPERITY WORLD INCOME FUND, INC. -A 1.2065 13.36% N.A N.A N.A 8.14% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (UNITS)

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PSE STOCK QUOTATIONS

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS

ASIA UNITED BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL DOMINION HLDG FIRST ABACUS FERRONOUX HLDG LMG CORP MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

49.2 122.1 10.24 107.3 53.35 11.04 67.4 65.9 52.6 22.85 65.85 24.6 0.485 1.45 15.6 0.52 3.81 0.31 2,650 1.08 206 4,850 0.8

49.5 122.7 10.3 107.4 53.5 11.06 67.45 66.25 52.65 23 66 24.95 0.5 1.46 15.72 0.56 3.99 0.34 2,700 1.09 208.8 4,874 0.81

49.1 124.2 10.32 107.4 53.95 11.02 68.8 66.5 52.8 23 65.85 25 0.5 1.47 15.1 0.53 4.06 0.28 2,700 1.03 209 4,850 0.8

49.2 124.3 10.42 107.7 53.95 11.06 68.8 66.75 52.8 23 66.25 25 0.5 1.47 15.72 0.56 4.07 0.28 2,700 1.17 209 4,850 0.8

49.1 121.1 10.3 104.2 53.05 11.02 67 65 52.6 22.85 65.85 24.5 0.485 1.44 14.54 0.53 3.8 0.28 2,700 1.03 206 4,850 0.8

49.2 122.1 10.3 107.4 53.5 11.06 67.45 66.25 52.65 22.85 66 24.6 0.5 1.45 15.6 0.56 3.81 0.28 2,700 1.08 206 4,850 0.8

4,800 3,708,180 6,400 1,139,580 247,510 177,100 1,217,740 124,060 380 4,200 99,130 20,900 34,000 24,000 4,275,600 4,000 52,000 10,000 20 3,685,000 330 55 43,000

235,760 452,859,034 66,068 121,823,693 13,230,807 1,957,490 82,082,911 8,186,888 20,040 96,165 6,533,915 514,500 16,750 34,870 64,947,604 2,210 201,790 2,800 54,000 4,107,720 68,038 266,750 34,400

4,915 -188,468,983 1,946,412 1,512,425 -496,786 -26,255,196 2,144,997 -5,792 -4,222,303 -24,750 -100 11,817,166 -1,680 7,600 -346,470 63,860 266,750 -

INDUSTRIAL ACEN CORP 2.97 3 2.96 3.04 2.92 3 44,000,000 131,095,160 -6,272,120 0.78 0.8 0.77 0.8 966,000 760,440 ALSONS CONS 0.8 0.8 ALTERNERGY HLDG 0.77 0.77 0.76 0.76 0.76 0.77 867,000 662,890 332,120 44.3 44.95 43.8 45 1,039,500 46,420,610 9,602,790 ABOITIZ POWER 45 45 RASLAG 1.13 1.12 1.03 1.12 1.03 1.12 2,315,000 2,514,460 317,530 0.11 0.112 0.111 0.112 0.11 0.112 2,280,000 252,080 BASIC ENERGY 4.6 4.63 4.65 4.65 4.52 4.59 20,000 92,670 -4,590 CITICORE RE FIRST GEN 29.1 29.2 30.35 30.95 28.8 29.1 2,450,500 72,268,485 -6,961,890 106.3 106.4 120 120 104.9 106.3 305,750 33,185,269 -510,829 FIRST PHIL HLDG JOLLIVILLE HLDG 3.95 3.95 3.01 3.95 3.95 3.95 4,000 15,800 489.2 490 502.5 488 489.2 219,010 107,282,988 -53,027,995 502.5 MERALCO 35.3 35.4 36.4 36.4 35 35.3 1,007,000 35,655,725 -7,993,655 MANILA WATER MAYNILAD 18.2 18.26 18.78 18.78 18.06 18.2 1,762,500 32,225,774 -6,264,026 2.32 2.34 2.37 2.28 2.32 849,000 1,950,930 -224,070 PETRON 2.33 PETROENERGY 4.13 4.01 4.1 4.04 4 4 455,000 1,822,360 14.9 15.2 14.9 15.3 14.9 15.2 132,000 1,981,430 -371,990 PRYCE CORP REPOWER ENERGY 9.8 9.8 9.6 9.8 9.8 9.8 700 6,860 18.14 18.42 18.7 18.78 18.14 18.14 1,080,400 19,906,170 3,515,020 SEMIRARA MINING 28.9 28.95 29.45 29.8 28.6 28.9 1,966,000 57,289,220 -14,706,785 SYNERGY GRID SHELL PILIPINAS 8.32 8.44 8.4 8.48 8.31 8.44 555,900 4,666,338 210,517 9.65 9.75 9.55 9.75 9.55 9.65 16,500 159,125 117,725 SPC POWER SP NEW ENERGY 1.18 1.19 1.24 1.25 1.17 1.18 32,412,000 38,944,370 365,690 TOP LINE 1.79 1.8 1.86 1.87 1.78 1.8 3,622,000 6,568,310 -359,340 2.91 2.86 2.86 2.93 481,000 1,389,810 -264,520 AXELUM 2.93 2.93 BALAI FRUITAS 0.315 0.325 0.315 0.315 0.315 0.315 50,000 15,750 32.2 32.25 33.5 33.6 32 32.2 623,500 20,232,895 -4,016,620 CENTURY FOOD DEL MONTE 3.91 3.91 3.73 3.91 3.91 3.91 9,000 35,190 -35,190 DNL INDUS 3.51 3.55 3.6 3.61 3.51 3.51 1,551,000 5,478,580 -616,150 15 15 15.12 14.92 15 3,197,300 47,883,312 -20,950,962 EMPERADOR 15.02 SMC FOODANDBEV 47.5 47.75 47.5 47.9 47.4 47.5 27,700 1,316,060 -189,965 0.64 0.62 0.61 0.65 2,632,000 1,665,180 -306,210 FIGARO GROUP 0.65 0.65 FRUITAS HLDG 0.64 0.65 0.64 0.64 0.64 0.64 98,000 62,720 230 231 230 229 230 36,810 8,467,320 -4,843,044 234.4 GINEBRA 154.8 155 158 153.2 154.8 611,980 95,229,758 6,984,672 JOLLIBEE 154.9 KEEPERS HLDG 1.98 1.98 1.96 1.95 1.92 1.96 1,179,000 2,307,430 520,590 20.6 20.8 20.6 21 20.5 20.6 9,900 203,745 4,120 LIBERTY FLOUR MAXS GROUP 2.12 2.13 2.12 2.12 2.12 2.12 20,000 42,400 -4,240 0.069 0.075 0.069 0.069 0.069 0.069 10,000 690 MG HLDG 7.13 7.14 7.2 7.2 7.03 7.14 626,400 4,454,018 -19,893 MONDE NISSIN SHAKEYS PIZZA 5.76 5.78 5.8 5.8 5.78 5.78 12,200 70,560 -5,780 2.48 2.59 2.6 2.6 2.48 2.48 33,000 82,340 ROXAS AND CO RFM CORP 5.3 5.31 5.29 5.33 5.29 5.31 721,900 3,833,206 -1,119,375 0.055 0.056 0.058 0.058 0.056 0.056 2,340,000 131,420 -4,480 SWIFT FOODS UNIV ROBINA 62.05 62.1 63 63.1 61.85 62.05 885,450 55,098,059 -25,707,686 VITARICH 0.5 0.51 0.5 0.51 0.5 0.51 97,000 48,650 0.415 0.425 0.415 0.415 0.415 0.415 250,000 103,750 ATN HLDG A ATN HLDG B 0.415 0.435 0.415 0.415 0.415 0.415 220,000 91,300 51.6 56.4 56.4 56.4 56.4 56.4 10 564 CONCRETE A CONCRETE B 59.45 59.45 51.5 59 59 59.45 140 8,265 1.2 1.21 1.21 1.26 1.18 1.2 2,985,000 3,612,580 -52,880 CONCREAT HLDG 1.9 1.96 1.97 1.97 1.9 1.96 389,000 747,510 -592,390 EEI CORP MEGAWIDE 4.68 4.58 4.59 4.68 4.58 4.58 899,000 4,133,990 216,270 14 14.98 14 14 14 14 500 7,000 PHINMA CROWN ASIA 1.8 1.84 1.9 1.9 1.7 1.83 569,000 1,044,030 -147,290 EUROMED 1.1 1.1 1.05 1.1 1.1 1.1 2,000 2,200 5.11 5.26 5.25 5.26 5.25 5.26 3,500 18,396 MABUHAY VINYL CONCEPCION 11.06 11.06 10.72 10.88 10.7 10.7 299,000 3,228,502 2,595,496 0.162 0.165 0.165 0.165 0.161 0.165 1,140,000 187,220 GREENERGY INTEGRATED MICR 7.52 7.53 7.5 7.57 7.33 7.52 4,278,900 32,008,643 3,523,031 2.18 2.19 2.05 2.26 1.98 2.19 8,423,000 198,050 IONICS 18,099,860 7.4 7.45 7.4 7.4 7.39 7.39 1,100 8,130 PANASONIC CIRTEK HLDG 1.46 1.48 1.42 1.52 1.38 1.46 12,100,000 17,784,370 -693,870 1.96 2 2 2 16,000 32,000 STENIEL 2 2

HOLDING & FRIMS

ABACORE CAPITAL 0.325 0.33 0.33 0.335 0.325 0.33 1,830,000 602,800 53.3 53.1 52 53.3 1,094,690 58,312,611 7,384,516 ASIABEST GROUP 53.6 53.6 AYALA CORP 500 501.5 506 506 496 501.5 62,110 31,101,108 9,154,017 36.55 36.75 36.3 37 1,922,100 70,761,270 ABOITIZ EQUITY 37 37 -1,945,790 ALLIANCE GLOBAL 9.32 9.34 9.48 9.8 9.3 9.32 894,200 8,417,163 -4,437,887 17.1 17.12 17.12 17.08 17.1 99,500 1,702,252 -174,556 ANSCOR 17.14 1.05 1.08 1.08 1.09 1.04 1.08 1,031,000 1,085,070 ANGLO PHIL HLDG COSCO CAPITAL 8.2 8.24 8.2 8.26 7.81 8.2 318,400 2,603,489 -1,131,229 7.9 7.95 7.98 7.98 7.82 7.95 1,993,600 15,739,845 -7,056,277 DMCI HLDG FILINVEST DEV 3.64 3.64 3.62 3.64 3.64 3.64 24,000 87,360 2.69 2.89 2.89 2.9 2.68 2.89 30,000 86,370 FJ PRINCE A 2.2 2.9 2.88 2.9 2.88 2.9 3,000 8,670 FJ PRINCE B GT CAPITAL 500 502 508 508 495.2 502 92,410 46,313,105 -5,734,046 5.1 5.75 5.1 5.15 5.1 5.15 52,000 265,300 255,000 HOUSE OF INV JG SUMMIT 21.65 22 22.45 22.5 21.65 21.65 786,800 17,201,225 -12,368,615 6 6.02 6.16 6.16 5.97 6.02 1,095,800 6,579,008 -51,248 LOPEZ HLDG LT GROUP 14.92 14.98 15.06 15.06 14.9 14.92 1,139,700 17,038,068 4,587,418 PACIFICA HLDG 0.8 0.82 0.8 0.8 0.8 0.8 22,000 17,600 1.08 1.1 1.1 1.1 1,000 1,100 1.1 1.1 PRIME MEDIA SOLID GROUP 1.21 1.21 1.19 1.21 1.19 1.19 8,000 9,660 568 572 580.5 580.5 556 568 1,127,240 638,743,260 -95,154,430 SM INVESTMENTS SAN MIGUEL CORP 65.8 65.85 65.7 65.8 64.75 65.8 230,010 15,115,384 -1,248,084 TOP FRONTIER 54 56.95 54 54 54 54 860 46,440 0.072 0.074 0.076 0.076 0.072 0.072 110,000 8,280 ZEUS HLDG PROPERTY AYALA LAND 15.28 15.3 15.32 15.5 15.16 15.3 8,481,800 129,580,776 7,048,114 1.17 1.19 1.19 1.23 1.17 1.18 444,000 523,530 -59,040 AYALA LAND LOG ALTUS PROP 11.9 11.96 11.6 11.9 11.6 11.9 26,800 315,940 293,860 0.27 0.295 0.285 0.285 0.285 0.285 50,000 14,250 ARANETA PROP AREIT RT 37.6 37.9 38 38 37.6 37.6 983,400 37,097,575 -26,742,945 0.71 0.73 0.73 0.74 27,000 19,740 A BROWN 0.74 0.74 0.6 0.61 0.6 0.61 30,000 18,280 CITYLAND DEVT 0.61 0.61 CROWN EQUITIES 0.086 0.088 0.086 0.089 0.086 0.088 410,000 36,000 -870 2.16 2.19 2.2 2.2 2.16 2.16 29,000 63,550 CEB LANDMASTERS CENTURY PROP 0.74 0.75 0.74 0.76 0.74 0.75 1,139,000 849,880 -53,250 3.33 3.34 3.37 3.39 3.3 3.34 2,255,000 7,574,710 3,025,170 CITICORE RT 11.98 12.1 12.14 12.14 12.1 278,000 -889,740 DOUBLEDRAGON 11.9 3,362,326 DDMP RT 1.04 1.04 1.03 1.03 1.03 1.04 1,388,000 1,433,110 -9,390 4.85 4.9 4.8 4.9 11,200 54,670 490 DM WENCESLAO 4.9 4.9 EVERWOODS 0.029 0.029 0.027 0.029 0.029 0.029 200,000 5,800 2.91 2.92 2.9 2.9 2.91 447,000 1,300,400 203,650 2.93 FILINVEST RT FILINVEST LAND 0.68 0.69 0.69 0.69 0.67 0.69 524,000 356,400 4,080 GLOBAL ESTATE 0.61 0.62 0.6 0.63 0.6 0.62 897,000 554,860 1.8 2 1.75 1.75 1.75 3,000 5,250 1.75 JACKSTONES KEPPEL PROP 2.5 2.64 2.5 2.5 2.5 2.5 10,000 25,000 2.32 2.34 2.28 2.34 2.26 2.34 14,014,000 32,530,530 2,062,940 MEGAWORLD MRC ALLIED 0.7 0.7 0.69 0.7 0.67 0.7 40,289,000 27,965,710 -5,540 MREIT RT 13.74 13.74 13.72 13.56 13.5 13.74 751,600 10,257,508 1,203,790 0.103 0.104 0.103 0.103 0.103 0.103 1,000,000 103,000 OMICO CORP PRMIERE HORIZON 0.163 0.166 0.163 0.163 0.163 0.163 70,000 11,410 0.4 0.415 0.4 0.42 1,040,000 429,550 0.42 0.42 PHIL ESTATES PREMIERE RT 1.04 1.06 1.08 1.08 1.01 1.06 1,068,000 1,137,010 -103,980 PRIMEX CORP 0.97 0.99 0.95 1.01 0.93 0.99 32,000 31,090 870 7.24 7.25 7.22 7.26 7.2 7.24 4,078,000 29,540,008 13,180,987 RL COMM RT ROBINSONS LAND 17.42 17.5 17.9 17.9 17.32 17.42 1,945,100 33,911,192 -2,174,204 0.1 0.112 0.092 0.112 0.092 0.1 2,700,000 276,440 50 PHIL REALTY ROCKWELL 3.05 2.97 3 3 2.96 3 341,000 1,024,870 183,800 3.25 3.3 3.3 3.3 3.22 3.25 125,000 407,750 -325,980 SHANG PROP 1.87 1.96 1.98 1.99 1.98 1.98 1,008,000 1,995,860 -1,980 STA LUCIA LAND SM PRIME HLDG 18.26 18.3 18.12 18.34 17.88 18.3 8,129,300 147,604,782 -15,219,244 0.405 0.415 0.405 0.405 0.405 0.405 50,000 20,250 SUNTRUST RESORT SERVICES ABS CBN 3.71 3.76 3.86 4.1 3.7 3.71 1,349,000 5,292,790 4.35 4.38 4.4 4.5 4.35 4.35 233,000 1,021,080 GMA NETWORK DITO CME HLDG 0.73 0.74 0.75 0.76 0.73 0.73 11,457,000 8,419,900 -207,910 1,735 1,736 1,740 1,740 1,723 1,735 45,305 78,518,645 -53,722,915 GLOBE TELECOM PLDT 178,763,760 1,190 1,191 1,174 1,192 1,169 1,190 151,220 -76,226,040 0.0063 0.0065 0.0063 0.0065 410,000,000 2,659,100 -138,600 APOLLO GLOBAL 0.0065 0.0065 9.7 9.79 9.83 9.83 9.64 9.7 3,737,900 -8,860,529 CONVERGE 36,272,810 IMPERIAL 0.87 0.87 0.98 0.87 0.87 0.87 2,000 1,740 0.119 0.121 0.122 0.122 0.119 0.121 1,090,000 130,050 ISLAND INFO NOW CORP 0.45 0.475 0.49 0.495 0.375 0.475 4,300,000 1,898,550 13,000 0.116 0.117 0.117 0.12 2,780,000 327,630 TRANSPACIFIC BR 0.12 0.12 0.87 0.9 0.88 0.91 481,000 435,540 -26,400 CHELSEA 0.91 0.91 CEBU AIR 28.55 28.6 28.65 28.65 28.55 28.55 211,500 6,046,300 608,525 929.5 930 950 962 927.5 930 1,802,070 1,682,536,190 -232,593,705 INTL CONTAINER LBC EXPRESS 6.55 7.07 6.55 6.55 6.55 6.55 100 655 3.75 3.82 3.75 3.82 50,000 189,660 -79,800 3.82 3.82 MACROASIA METROALLIANCE B 0.96 0.97 0.97 0.97 0.97 1,000 970 2.1 2.1 2.09 2.1 2.1 2.1 206,000 432,600 -302,400 PAL HLDG 1.38 1.39 1.34 1.44 1.32 1.38 8,946,000 12,320,410 -2,146,800 HARBOR STAR BOULEVARD HLDG 0.03 0.031 0.032 0.032 0.03 0.03 13,900,000 420,700 -3,300 0.94 0.98 0.93 0.94 0.9 0.94 19,000 17,630 940 DISCOVERY WORLD GRAND PLAZA 5.03 5.03 5.02 5.03 5.03 5.03 100 503 0.395 0.42 0.395 0.395 0.395 0.395 20,000 7,900 WATERFRONT 14.52 14.88 14.52 14.52 14.52 14.52 500 7,260 CENTRO ESCOLAR FAR EASTERN U 800.5 805.5 800 800 800 800 2,750 2,200,000 6.9 6.9 6.9 6.9 6.9 22,600 155,940 155,940 7.32 IPEOPLE STI HLDG 1.22 1.24 1.22 1.23 1.22 1.23 36,000 43,960 18,300 BELLE CORP 1.18 1.18 1.17 1.17 1.16 1.18 156,000 181,130 2.59 2.6 2.39 2.65 2.3 2.59 51,003,000 -2,946,970 127,606,230 BLOOMBERRY DIGIPLUS 9.66 9.6 10 10 9.6 9.6 6,417,700 62,577,550 5,203,781 14.06 14.1 14.24 14.24 14 14.1 2,276,100 32,041,424 7,076,490 PHILWEB METRO RETAIL 1.06 1.06 1.04 1.06 1.03 1.06 211,000 219,530 2,090 40.2 40.5 40.5 39.9 40.2 1,666,900 66,810,170 -33,679,595 PUREGOLD 40.25 33.5 34.4 34.8 34.8 33.65 34.4 10,400 357,560 55,135 PHIL SEVEN CORP SSI GROUP 2.03 2.05 2.05 2.05 2.05 2.05 325,000 666,250 615,000 0.76 0.78 0.77 0.79 0.77 0.78 126,000 98,000 38,680 UPSON INTL CORP WILCON DEPOT 5.97 6 6.15 6.15 5.91 6 681,600 4,062,426 -976,239 0.106 0.112 0.112 0.113 950,000 106,480 APC GROUP 0.113 0.113 0.225 0.234 0.211 0.211 0.225 180,000 40,190 MEDILINES 0.225 PAXYS 3.65 3.51 3.6 3.55 3.3 3.6 518,000 1,845,010 -76,650 MINING & OIL ATOK 1.84 2.01 2.04 2.04 2.01 2.01 2,000 4,050 APEX MINING 14.26 14.42 14.78 14.78 14.22 14.26 5,114,400 73,699,010 -30,727,004 17.4 17.46 18 18.1 17 17.4 6,107,400 107,262,926 6,044,828 ATLAS MINING BENGUET A 7.05 7.05 6.71 7 7 7.05 187,400 1,311,950 2.1 2.15 2.15 2.03 2.1 1,286,000 2,698,430 -1,205,040 2.14 FERRONICKEL 0.084 0.091 0.092 0.09 0.09 430,000 39,200 GEOGRACE 0.091 LEPANTO A 0.225 0.226 0.232 0.232 0.224 0.225 21,880,000 4,953,830 0.225 0.227 0.23 0.23 0.227 0.227 480,000 110,010 LEPANTO B MARCVENTURES 0.75 0.73 0.74 0.75 0.72 0.73 499,000 364,180 -143,820 0.395 0.375 0.45 0.375 0.425 1,500,000 617,100 NIHAO 0.425 4.09 4.1 4.12 4.14 4.05 4.1 2,233,000 9,161,320 -2,579,740 NICKEL ASIA OCEANAGOLD 35.05 35.25 35.3 35.9 35.9 35.3 677,800 23,922,230 -3,814,615 0.485 0.52 0.48 0.56 0.48 0.485 1,410,000 706,900 10,000 ORNTL PENINSULA PX MINING 9.97 20,144,247 9.96 10.1 10.12 9.96 9.97 2,019,200 -7,676,045 3.23 3.68 3.7 3.7 3.7 3.7 4,000 14,800 -11,100 ENEX ENERGY ORNTL PETROL A 0.013 0.014 0.014 0.014 0.014 0.014 700,000 9,800 0.0082 0.0081 0.0081 0.0081 0.0081 0.0081 1,000,000 8,100 PHILODRILL 2.92 2.93 3.1 3.1 2.93 2.93 915,000 2,748,560 85,550 PXP ENERGY PREFFERED ACEN PREF B 1,030 1,046 1,035 1,035 1,035 1,035 5 5,175 1,943 1,950 1,950 1,950 1,950 1,950 1,705 3,324,750 -224,250 AC PREF B3R AC PREF B4R 1,941 1,959 1,932 1,950 1,932 1,950 1,360 2,651,550 481.2 499 498 498 498 498 10 4,980 ALCO PREF D BRN PREF C 102.1 104 104 104 104 104 20 2,080 29.2 29.6 29 29.5 5,600 164,830 29.6 29.6 CEB PREF 973 1,000 1,005 1,005 1,000 1,000 20 20,025 CLI PREF A1 CLI PREF A2 1,005 1,008 1,010 1,010 1,007 1,008 1,840 1,855,830 60,480 98 99.2 99 99 98 98 760 75,070 CPG PREF B DD PREF 93.2 93.4 93.45 93.45 93.2 93.4 12,840 1,198,785 95.2 96 96 96 95.2 96 8,140 780,800 EEI PREF B 1,931 1,975 1,960 1,975 1,960 1,975 40 78,725 GLO PREF ANV GLO PREF BNV 1,961 1,980 1,970 1,980 1,970 1,970 465 918,860 98.05 100 98.05 98.05 98.05 98.05 40 3,922 MWIDE PREF 6A MWIDE PREF 7A 99 101.5 101 101 99 99 150 15,038 99.15 101 99.9 99.9 99 99.15 5,790 574,138 MWIDE PREF 7B PCOR PREF 4C 988 990 997 997 990 990 740 733,650 971 990 990 990 990 990 20 19,800 PCOR PREF 4D 990 1,000 999 999 999 999 930 929,070 PCOR PREF 4E SFI PREF 1.34 1.34 1 1.34 1.34 1.34 1,000 1,340 77.65 79 79 79 79 79 30,000 2,370,000 -529,300 SMC PREF 2L SMC PREF 2N 77 77.7 77.8 77.8 77 77.7 4,220 327,250 79.3 79.4 79.4 79.4 79.4 79.4 3,570 283,458 -283,458 SMC PREF 2O 72.5 74.5 74 74.5 74 74.5 11,910 881,545 22,350 SMC PREF 2P SMC PREF 2R 75 78.5 78.95 78.95 78.95 78.95 10 790 -790 73.2 75 75 75 75 75 4,000 300,000 -299,250 SMC PREF 2S SMC PREF 2V 78.3 78.5 79.3 79.3 78.5 78.5 3,090 242,808 78.5 79.8 78.65 78.65 78.5 78.5 32,100 2,520,294 109,900 SMC PREF 2W 79.25 80.3 79.95 80.3 79.25 80.3 119,100 9,534,042 -752,940 SMC PREF 2X TECH PREF B2D 6.9 7.4 6.9 6.9 6.9 6.9 100 690 99.8 100.1 100.1 100.1 99.9 99.9 2,830 282,725 TOP PREF A1 TOP PREF A2 101 101.7 100.9 101 100.9 101 1,040 105,036 1,009

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

3.42 3.45 4.14 4.14 3.45 3.45 18,000 69,980 4.08 4.26 4.08 4.08 4.08 4.08 5,000 20,400

ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A $0.8141 0.2% 1.6% -3.84% N.A 0.51% WARRANTS AGI WARRANT 1.1 A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. 1 - EFFECTIVE OCTOBER 1, 2025, ITS FUND MANAGEMENT IS WITH BPI WEALTH. 2 - LAUNCH DATE IS FEBRUARY 2, SM A L L, M ED I U M & EM E R G IN G 2026. CTS GLOBAL 0.345 3 - LAUNCH DATE IS DECEMBER 18, 2024. MEMBERSHIP WITH PIFA WAS OFFICIALLY APPROVED ON SEPTEMBER 12, 1.36 HAUS TALK 2025. ITALPINAS 0.66 4 - MEMBERSHIP WITH PIFA WAS OFFICIALLY APPROVED ON MARCH 26, 2026. 1.36 KEPWEALTH 5 - LAUNCH DATE IS APRIL 17, 2026, AND IT REPRESENTS THE SECOND TRANCHE OF THE ATRAM UNITIZED CORPORATE LFM PROP 0.022 DEBT VEHICLE, INC. 2 MAKATI FINANCE 0.201 XURPAS “While we endeavor to keep the information accurate, the Philippine Investment Funds Association

(PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www.pifa.com.ph to see the latest NAVPS/NAVPU.”

August 19, 2026

1.17

1.05

1.17

1.05

1.17

9,000

9,570

-8,400

0.355 1.38 0.69 1.43 0.025 2.39 0.218

0.35 1.37 0.69 1.36 0.02 2.39 0.19

0.35 1.38 0.69 1.36 0.021 2.39 0.228

0.35 1.36 0.69 1.36 0.02 2.39 0.19

0.35 1.36 0.69 1.36 0.021 2.39 0.202

100,000 966,000 5,000 4,000 200,000 1,000 300,000

35,000 1,318,100 3,450 5,440 4,100 2,390 66,020

-137,000 -

EXHANGE TRADE FUNDS FIRST METRO ETF

103.5

-3,450 -

104

105 105 102.9 103.5 3,960 411,461 -88,825

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Creating your own ghost: Cybersecurity lessons from ghost month

true story about a woman who lost P40,000 just because she couldn’t resist a pair of shoes, thinking “Paano kung totoo yung promo?” And just like that, with a single click, her money was gone! The moral? Sometimes, it’s better to leave those shiny deals alone, no matter how tempting! Then there are the solo parents and retirees in the 45+ age bracket. These folks are magnets for scams like romance frauds, fake job offers, and identity theft. It’s like they’ve stepped right into a suspense thriller where every ring or notification could lead to a scheme to fleece them of their hard-earned savings. Ouch! Lastly, let’s talk about our beloved senior citizens (60+). They might be wise, but they can be surprisingly trusting—especially when it comes to officiallooking SMS threads blasting urgent messages. The unfortunate truth? Messages saying, “You need to verify your identity, or your account will be locked immediately!” might as well be a siren song to them. Remember, folks, as the BSP says, “Kapag minamadali, MAGDUDA!” So, to all our seniors out there, please don’t give out your info! Smishing scams and banking OTP fraud are lurking in those texts, just waiting for an unsuspecting target. Ghost Month is a vibrant reminder to be mindful of the unseen forces around us. By channeling this spirit into cybersecurity, we can adopt proactive strategies to tackle hidden digital threats. Merging cultural wisdom with modern security practices honors our traditions while helping us navigate the digital landscape confidently. Let’s celebrate our heritage and work towards a safer digital future! Judith C. Songlingco is the Head of Corporate Affairs and Brand Marketing at Philippine Business Bank (PBB) and the Secretary of the Bank Marketing Association of the Philippines (BMAP). She can be reached via judith. songlingco@yahoo.com. The writer’s views and her written piece do not necessarily reflect those of the BusinessMirror, the PBB and the BMAP. For more information, visit www.bmap. org.ph or https://facebook.com/BankMarketingAssociationPH.

briefs ➔ Citibank’s PHL office honored THE Euromoney magazine published by Triple Private Equity Ltd. recently awarded Citibank NA 47 global, regional and local market awards, including the coveted “World’s Best Bank for Large Corporates” and “World’s Best Bank for Securities Services,” the lender said in a statement. In the Philippines, its Manila Branch was also recognized as “Best Digital Bank for Large Corporates,” underscoring the bank’s continued commitment to delivering innovative digital solutions that help clients operate more efficiently, manage liquidity and payments seamlessly, and navigate increasingly complex business environments, the lender’s statement read. ➔ Security Bank CFO to co-chair Asian group THE Security Bank Corp. announced that its Chief Financial Officer John David G. Yap has been named one of four co-chairs of the newly-launched East Asia and Pacific (EAP) Regional Chapter of the SME Finance Forum, a global network established by the International Finance Corp. (IFC). In a statement, the lender said the appointment recognizes Yap’s extensive experience in SME banking. It also gives the Philippines a voice in regional discussions on expanding access to finance for micro, small, and medium enterprises (MSMEs) across East Asia and the Pacific, read the statement.

BOC modernization requires restoration of slashed funds

JUST returned from three thrilling cybersecurity forums last month and, let me tell you, the topics discussed were absolutely eye-opening! It’s a wild ride trying to protect our bank accounts when it feels like scammers are always one, or maybe even two, step ahead! The ghost month, running from August 13 to September 10, 2026, adds an intriguing layer of meaning. This period heightens spiritual awareness and serves as a metaphor for guarding against digital threats. Just as the ghost month reminds us of unseen forces and unfinished business, scams in the digital realm can linger, haunting us after falling for a fraudulent email or link. Just as people avoid risky decisions during ghost month, we must exercise caution online. Scammers exploit lapses in judgment, preying on fear and carelessness. Falling for a scam is like inviting a ghost into your digital life, draining your resources and peace of mind. Did you know that digital scams in the Philippines surged in 2026, with over 16,619 phishing attacks, 255 data breaches, and 21 ransomware incidents recorded in the first half of the year alone? A big shoutout to Gadget Magazine for spilling the tea on this alarming trend! Brace yourself for this: even the brightest minds can fall for these tricks! Scam victims come in all shapes and sizes, but if we were to hand out awards, the biggest group of winners would be those aged 18 to 29-yearsold. This crowd is rocking the digital scene but also falling for romance scams, fake crypto investments, and social media fraud. I mean, who knew that the so-called “tech-savvy” generation could be so... emotionally vulnerable? In modern Filipino slang, let’s just say they can be a bit marupok (frangible)! We now focus on 30- to 45-year-olds: busy professionals juggling responsibilities while trying to score the best online deals. Unfortunately, many of them find themselves caught up in the gripping tale of business email compromise and online shopping fraud. I once heard a

Editor: Dennis D. Estopace • Thursday, August 20, 2026

By Reine Juvierre Alberto

@reine_alberto

HE Bureau of Customs (BOC) is seeking to restore funding for its modernization program, critical to its anti-smuggling drive and sustaining its revenue collections, after more than 80 percent of its proposed budget was slashed.

On the sidelines of the Development Budget Coordination Committee’s briefing at the House of Representatives last Monday, Customs Commissioner Ariel F. Nepomuceno told reporters that the BOC had requested a budget of over P28 billion for next year. The proposal covers personnel services, maintenance and other operating expenses, capital outlays and the agency’s “modernization budget,”

Nepomuceno said. However, the amount reflected in the proposed 2027 National Expenditure Program (NEP) was only P5.902 billion, an 80-percent reduction in the BOC’s original proposal. “What was cut was the modernization component,” Nepomuceno said, adding that the BOC will try to appeal as budget deliberations begin. “How can you modernize if

you don’t have the necessary systems and equipment?” Part of the BOC’s modernization plan is to acquire more scanning machines and radiation detection equipment to strengthen controls at the country’s ports, Nepomuceno said. An additional 124 scanning machines are needed to fully address gaps in the agency’s border control capabilities, Nepomuceno said. “There are issues that we cannot detect radioactive materials. To do that, we need equipment,” he added. Aside from scanners, the Customs chief said sea vessels and other fleet assets are also needed to enable the BOC to prevent high-seas smuggling of cigarettes, fuel and drugs. While the agency is in partnership with the Philippine Coast Guard and the Philippine National Police - Maritime Command in securing national borders, they have their own mandates and priorities, Nepomuceno noted. The BOC is eyeing public-private

partnerships (PPP) as an alternative way to finance some of its modernization projects. However, he noted that it could be difficult as importers would have to be charged for certain customs services, such as the selectivity system. Nepomuceno said better equipment and enforcement capabilities would directly strengthen the BOC’s anti-smuggling efforts and indirectly help increase revenue collections. “[The modernization program] will sustain the momentum of collecting well and collecting based on forecast or projections,” he added. This year, the BOC is expected to hit its P1.011 trillion revenue target, which was increased from the earlier goal of P1.003 trillion. As of end-July, the BOC has collected P587.711 billion, or 58.13 percent of the full-year target. The BOC is projected to collect P1.074 trillion in 2027 and P1.134 trillion in 2028, based on state budget documents.

Rising cost of living, energy prices strip Filipinos of hope By Andrea E. San Juan

ILIPINOS’ expectations of financial improvement in the next 12 months plunged to their lowest levels in four years, with inflation, rising living costs and energy prices cited as the leading concerns affecting consumers’ financial outlooks. The “2026 Credit Perception Index” report by Transunion Information Solutions Inc. further revealed that in the next three months, only 64 percent of Filipinos said their financial situation will be better. This is the lowest rate since 2023 or when TransUnion started tracking Filipino consumers’ sentiment. Likewise, the percentage of Filipinos who agreed that their financial well-being will ease in the next 12 months plummeted to 73 percent, also the lowest in four years. The study pointed to inflation,

rising living costs and energy prices as major dampeners to the confidence of people who Transunion polled. Inflation has peaked to 7.2 percent in April as ripple effects of the war in the Middle East pushed local gasoline prices to hit nearly $2 to a third of a gallon. In the next three months, 61 percent of Filipinos expressed concern over inflation while 60 percent fret over the fuel price volatility. Meanwhile, 44 percent expressed worries over higher household expenses such as rent, utilities and groceries while 35 percent fret over geopolitical uncertainties. About 34 percent fear the possibility of recession over the threemonth horizon. In the next year, 61 percent of Filipinos expressed concern over the erratic fuel prices. The same percentage of people also flagged

higher living costs as one of the top culprits for their waning financial confidence. These were followed by recession concerns, which 44 percent Filipinos are worrying about in the next 12 months while 41 percent are fretting over geopolitical uncertainties and 39 percent expressed concern on rising household expenses. As fewer Filipinos believe their financial situation will improve in the coming year, the study showed that Filipinos turn to credit to support everyday financial needs. The study revealed that 59 percent utilize credit for emergency expenses, 50 percent use credit products for personal expenses and 45 percent said they use credit for family expenses. About 36 percent of Filipinos said they borrow to pay utility bills while 29 percent said they use credit products for education.

TransUnion Philippines President and CEO Peter Faulhaber considers such behavior as a “sign of a maturing perception of credit.” “So rather than using credit, perhaps, to just buy things that aren’t necessarily important, or just rack up really large bills, they’re using it strategically for specific purposes, which shows us, at least from an education perspective, they’re aware of what it can be used for, how they can use it, the requirements to pay back,” Faulhaber said during a briefing last Wednesday. He added that emergency expenses as the top reason behind Filipinos’ use for credit is “actually a good sign.” “I think if there were more discretionary items at the top, that would concern us more, because that would show us that the education and the important uses of credit is not necessarily where we want it to be,” Faulhaber said.

Protecting portfolio from inflation: Lessons from ’22 By Zijia Song

NFLATION has the same effect on your portfolio that termites do on a wood-frame house: it gnaws away unnoticed until the beams start to give. US investors used to fight back against the pest of inflation with the classic 60/40 portfolio, owning stocks for growth and bonds for ballast. Then 2022 happened. Stocks and bonds fell together as inflation soared to its highest level since the early 1980s, leaving savers with no safe way out. Inflation is among the top of investors’ worry lists in the third quarter of 2026, according to a Charles Schwab survey. More than half of active-trader participants said they expected it to have the greatest impact on the direction of the US stock market through the end of 2026. Angst about price increases and economic uncertainty has driven long-dated US Treasury yields to the highest in decades. The lessons of 2022 left both investors and advisers rethinking how to prevent the bite. Instead of relying on a traditional mix of assets, wealth managers say their clients are now adding shorter-duration bonds, commodities, infrastructure and other alternative investments to spread the risk in a downturn. “If you only have stocks and bonds, you have two legs on your stool,” said Emily Green, head of wealth management at Ellevest. Here’s how to build a more durable defense against inflation right now.

Strengthen your core

THE meat of your stock portfolio—80 percent to 90 percent— should still be in broad-market funds, such as those tracking the S&P 500 Index, said Omar Qureshi, managing director at financial planning firm Hightower Signature Wealth. The remaining share can be in more targeted investments. Set-it-and-forget-it investors have had great gains over the last 10 years despite inflation’s surge in 2022. S&P 500 companies’ earnings are projected to grow 23 percent in the third quarter of 2026 compared with the same period in 2025, data compiled by Bloomberg Intelligence show. If that projection holds, it represents an unusually strong pace of profit growth and far outpaces inflation over the same period. That protection has been less reliable during periods of high inflation. Stocks outpaced inflation 90 percent of the time when inflation averaged below 3 percent and was rising, but failed to do so consistently when inflation averaged above 3 percent, according to research by Schroders Investment Management. As of August 2026, US consumer prices were up 3.4 percent from a year earlier. When inflation is higher, investors making targeted bets may want to focus on companies that can raise prices or rents without losing customers. Qureshi points to energy producers with oil and natural gas reserves, mining companies that own mineral deposits, farmland and timberland owners as well as com-

mercial real estate with leases that reset at higher rents. Energy stocks, for example, returned more than 60 percent in 2022 as Russia’s invasion of Ukraine sent oil and natural gas prices soaring. In 2026, energy stocks have again benefited from the rise in oil prices, while stocks in semiconductor equipment advanced due to artificial intelligence-driven investment. Equity real-estate investment trusts (REITs) could also provide a partial inflation hedge by passing through price increases in rental contracts and property prices, according to Duncan Lamont, head of strategic research at Schroders Investment Management. Consumer staples may also perform relatively better, he added, as their cash flows are concentrated in the shorter term and less impacted by inflation.

Package TIPS across maturities

TIPS, a type of Treasury security designed to keep pace with inflation, have long been one way for investors to protect their money. ETF issuers are now taking the idea further. One of the most affordable options is the Vanguard Total Inflation-Protected Securities ETF (VTP), which charges a 0.05 percent expense ratio. Launched in 2025, the fund holds TIPS with a range of maturities, spreading investors’ exposure across shorter- and longer-term bonds. That gives investors a simpler way to diversify their inflation protection than buying and managing individual bonds.

Some funds take a more hands-on approach, with managers adjusting their holdings as conditions change. The PIMCO Inflation PLUS Active Exchange-Traded Fund (PCPI), launched in April, charges an expense ratio of 0.25 percent and holds not only short-term TIPS but also other inflation-linked securities and interest-rate swaps. Wes Crill, senior client solutions director and vice president at Dimensional Fund Advisors, said inflation swaps—contracts that pay based on changes in consumer prices—give investors more flexibility because they don’t have to rely solely on Treasuries for inflation protection. “The nice thing about using a swap is the bonds that are in your portfolio don’t have to be just Treasuries. You can take some credit exposure using corporate bonds, you can use more tax-efficient municipal bonds,” said Crill. “It really opens a door to a whole gamut of fixed income asset allocation.” For investors who prefer a simpler approach, Northern Trust’s distributing ladder ETFs buy bonds that mature over a defined period and gradually pay out principal and interest. And if you’re sticking with traditional bonds, shorter maturities may still offer the best balance. Stash Graham, managing director and chief investment officer of Graham Capital Wealth Management, favors fixed-income investments with roughly a five- to 10-year time horizon because they’re less exposed to swings in interest rates. Bloomberg

Thursday, August 20, 2026

Editor: Jennifer A. Ng • www.businessmirror.com.ph

PHL purple yam output hits 2-year high in H1 By Ada Pelonia

@adapelonia

HE country’s purple yam (ube) output surged to a 2-year high of more than 5,600 metric tons (MT) in the first half, as farmers were encouraged by the interest of foreign consumers in the crop. Data from the Philippine Statistics Authority (PSA) showed that purple yam production in January to June jumped by nearly 17 percent to 5,658 MT, from the 4,838 MT recorded in the same period last year. Historical data indicated that this was the highest level recorded in two years, or since the 5,913

MT posted in the reference period of 2024. Agriculture Undersecretar y Cheryl Marie Natividad-Caballero told the BusinessMirror that the crop’s performance was due to the increasing interest of farmers and local government units in the cultivation of purple yam.

Exec: Mega Sardines bullish on US business prospects By Bless Aubrey Ogerio

EGA Sardines is expanding into the mainstream United States grocery market, with the Philippine brand set to go on sale in 2,750 stores operated by American retail firm The Kroger Co. by mid-September. Mega Prime Foods Inc. (MPFI) Chief Executive Officer Michelle Tiu Lim-Chan said the products are already being shipped to the US, covering Kroger and its banners Mariano’s, Fry’s, Dillons and Pick ’n Save. Mega is currently the first and only Filipino brand listed with Kroger, according to the company. The rollout has been in development for about nine months, including Mega’s participation in major US food trade shows to gauge consumer interest, the company official said during a press briefing at the company’s main headquarters last Tuesday. She said the company decided to proceed with the expansion amid trade and geopolitical uncertainties as demand for sardines remains strong in the US. “Actually, it’s about timing, because the sardines right now is moving. There’s a lot of demand,” she told reporters on the sidelines of the event, noting that some US stores have experienced sardine shortages. “We’re not really concerned with geopolitical (tensions), because it’s about food security. So, sardines, it’s a food product.” Meg a m ay a l so adju st it s p ro du c t s f or U S c o n s u me r s based on sa les per for mance, including developing variants with lower sodium content or using olive oil.

The company has not set a specific sales or revenue target for the US market this year, saying it first wants to assess how its products perform in mainstream retail. “Initial orders, however, have already increased as retailers seek additional stocks. We have already shipped five containers to the US. And there is also shipping every week because we feel that there is a lot of demand.” The US is being considered as one of Mega’s potentially larger international markets, alongside its existing markets in Malaysia, Canada and Dubai. In Dubai, it’s second largest market after the Philippines, the brand is sold through Carrefour, giving it an established presence in mainstream retail.

Long-term plans

DESPITE the international push, exports currently have only a small account of Mega’s business, leaving the domestic market as its main source of sales. “As of now, it’s not a big percentage. Within 5 to 10 percent of exports. So, that’s it. That’s why we still have a lot of domestic markets. We really need to take care of our domestic markets,” Lim-Chan said. Mega has also recently entered Azerbaijan, Kenya and Jordan and has at least 10 other countries in its pipeline, the company said. For Lim-Chan, the company’s longer-term international strategy could eventually extend beyond exporting its existing products. This could include acquiring or developing brands in other markets, as well as gaining access to additional fishing grounds and sources of raw materials.

Caballero said calls from agencies, such as the Department of Agriculture (DA) and the Department of Trade and Industry (DTI), for export development prompted farmers and local government units to increase output and invest in ube processing. She said the col laboration among the academe, DA, and private companies to develop resilient planting materials using micropropagation techniques and to strengthen the ube supply chain for local and export markets also helped prop up production. “More thorough data gathering is (also) now being done to account for ube production in key production areas and ube-producing provinces that were not on the ‘radar’ in previous years,” Caballero told this newspaper on Wednesday. The provinces include Ilocos,

THE Department of Agriculture (Mimaropa) conducts training on ube or purple yam propagation and nursery management for members of a farmers’ association in Bulalacao, Oriental Mindoro on June 4, 2026. PHOTO FROM PNA

Pangasinan, Isabela, Cagayan, Nueva Vizcaya, Calabarzon, Bicol Region, Bukidnon, and Caraga, among others. T he gover nment has been ramping up efforts to boost the domestic ube sector amid the boom-

ing global demand for the crop. This includes the recently established federation dubbed the United Ube PH Association Inc., which aims to centralize initiatives for purple yam output and meet global demand.

The federation consists of farmers, cooperatives, processors, exporters, researchers, and government agencies. The DA expressed optimism that better supply coordination and broader access to high-quality raw materials would increase the current 50 to 60 MT output per operator. This, as the industry currently grapples with several bottlenecks, inc lud ing f rag mented supply chains and inconsistent quality standards, among others. Furthermore, the agency said the government also earmarked P300 million in additional funding for the industry in 2027. The raft of measures for the ube sector aims to maintain the country’s spot as a leading producer and hopes to corner the majority of export markets.

Govt regulates imports of artificial sweeteners

HE Sugar Regulatory Administration (SRA) has finally moved to tighten rules on the imports of artificial sweeteners, as the government seeks to curb its “long-practiced” unregulated entry that erodes demand for local raw sugar. SRA issued Sugar Order (SO) 5, which imposes a P25-per-kilo clearance fee on the importation of artificial sweeteners under Harmonized System (HS) codes 2106 and chapter 29, which are used in the manufacture of food and beverages. This covers, but is not limited to, sucralose, aspartame, saccharin, acesulfame potassium, processed stevia, as well as sucralose, aspartame, saccharin, and acesulfame potassium. The SRA decided to issue the order following consultative meetings in which stakeholders raised

their “grave concern” on the effects of “the long-practiced unregulated importation into the country of artificial sweeteners” on the local sugar sector. The agency noted that despite its substantial impact on the five million Filipinos dependent on the domestic sugar industry, “the importation into the country of ‘artificial sweeteners’ remains unregulated.” “Artificial sweeteners have sweetness that far exceeds that of cane sugar (i.e., 2 to more than 500 times); thus, it is necessary to integrate the effects thereof upon the welfare, growth, development, and competitiveness of the sugar industry and the health and well-being of the Filipino people,” the SRA said. An import clearance from the regulatory agency is required before shipments are released by the

Bureau of Customs (BOC). The SO 5, however, stipulated that applications for clearance for release would be deemed approved if the SRA failed to act on the application after five working days from its submission. Meanwhile, the SRA said its monitoring personnel would conduct unannounced inspections of the warehouse, transportation, and/or ledger of the imported goods, products, and ingredients covered under the SO. Industry stakeholders have been raising the alarm over a “largely unregulated influx” of artificial sweeteners that threatens the local sector’s viability. In February, the SRA said it received a manifesto from the sugar industry which called on the government to regulate artificial sweeteners and impose tighter measures on

other sugar substitutes. The manifesto was signed by major sugar federations nationwide along with sugar millers, refiners, and allied industry groups. Furthermore, the Philippine Sugar Millers’ Association Inc. (PSMA) backed the government’s bid to regulate synthetic sweeteners. This, after Senator Joseph Victor Ejercito and Negros Occidental Rep. Javier Miguel Benitez filed Senate Bill 2114 and House Bill 9088, respectively, to amend Republic Act (RA) 10659 or the Sugarcane Industry Development Act (Sida). “Policies focused on strengthening domestic production and ensuring fair market conditions are essential to protecting the industry from market volatility, sustaining rural livelihoods, and promoting long-term food security,” the PSMA said . Ada Pelonia

SRA to release high-yielding cane varieties

HE Sugar Regulatory Administration (SRA) will release three new high-yielding sugarcane varieties as part of efforts to boost productivity and raise farmers’ incomes. SRA Administrator Pablo Luis Azcona made the pronouncement after Agriculture Secretary Francisco Tiu Laurel Jr. said the sugar industry should build a “proactive sector” to anticipate and adapt to crises. This, as the sugar sector currently grapples with rising production costs, climate change, and the continued spread of the red-striped soft scale insect (RSSI). To curb the pest’s spread, the SRA

said it is distributing beneficial microorganisms (BMO) organic fertilizer to planters for free to lower their production costs. Furthermore, the chief of the Department of Agriculture (DA) noted that additional labs will be established at the municipal, mill, and farmer group levels to ensure its anti-RSSI biocontrol fungi are readily available. He said these measures are “practical innovations” that the industry needs. “The technology we develop must work for the farmer,” he said. “If it cannot help them produce more, reduce costs, save labor, manage risks,

or earn better, then we have to ask ourselves, what good is it?” He underscored the importance of the Philippine Sugar Technologists Association (PhilSuTech) in helping the sugarcane industry turn science and innovation into higher productivity and better incomes. Speaking at the 72nd PhilSuTech Annual National Convention in Cebu, he said the association’s expertise is crucial as the industry confronts these bottlenecks. “PhilSuTech has always been an important partner of our sugar industry, bringing science, technology, and expertise closer to the people who need them most.”

He said innovation should reach the sugarcane fields and deliver results for farmers to see, instead of remaining inside laboratories, universities, technology centers, or conference halls. Meanwhile, the DA chief reiterated that sugar imports are not the government’s policy objective. Instead, he considers this a tool for market stabilization when necessary to address temporary supply gaps and shield consumers without undermining domestic producers. “The goal is a sugarcane industry that is stronger, more productive, competitive, and self-reliant.” Ada Pelonia

Historic copper squeeze eases as traders deliver metal to LME

NE of the largest ever squeezes in the copper market eased somewhat on Tuesday after traders including Trafigura Group made significant deliveries of metal to the London Metal Exchange (LME). The closely watched spread between copper for immediate delivery and metal delivered three months out dropped to $248 a metric ton, down from a backwardation of as much as $545 seen Monday. While that’s still a very wide spread, traders said the immediate pressure in the market had lessened after the LME’s global warehouse network saw the biggest increase in readily available copper inventories since April, with a gain of more than 20,000 tons.

Trafigura was behind a significant share of the copper that was placed onto the LME on Tuesday, according to people familiar with the matter, although other traders were also said to be arranging to bring metal onto the exchange. People familiar with the moves said they expected additional metal to be placed on warrant on the LME in the coming days. A spokesperson for Trafigura declined to comment. A nother key one-day price spread know as Tom/next also eased after spiking to levels last seen during a historic market squeeze in 2021. Copper for delivery on Wednesday on the LME traded at a premium of $79 to contracts for a day later at Tuesday’s close. It

A WORKER in the foundry of the KGHM Polska Miedz SA copper smelter in Glogow, Poland, on Thursday, April 24, 2025. DAMIAN LEMANSKI/BLOOMBERG

had earlier rose to as much as $110. Tom/next represents the price to roll positions forward by one day.

Tuesday’s flare-up points to stress for holders of short positions just ahead of the third Wednesday of

the month, which is the main focus of liquidity in the exchange’s contracts. Commodities traders have been watching copper closely as a surge of shipments to the US shrank LME stockpiles that underpin global benchmark contracts. The crunch has been driven in large part by an arbitrage trade in response to the prospect of US import tariffs, helping drain inventories elsewhere. The steep premium for prompt supplies creates a lucrative opportunity for traders to ease the tightness by selling copper in the near-term, while simultaneously buying back longer-dated contracts at a discount. The on-warrant stockpiles in LME warehouses saw increases

across Asia and the US. Before a recovery that started gradually last Tuesday, they had shrunk 75% from a mid-April high. The US Commerce Department was due to make a recommendation on copper tariffs by the end of June, but that deadline has come and gone with no announcement from the White House. Copper has continued to flowing to US ports in the meantime, encouraged by higher domestic prices. About 56,000 tons arrived in the US in the first two weeks of August, according to shipping data compiled by IHS Markit. Excluding July’s record 223,000-ton inflow, August shipments are in line with the monthly average over the past year or so. Bloomberg News

Health&Fitness BusinessMirror

Editor: Anne Ruth Dela Cruz

Thursday, August 20, 2026

MakatiMed eyes national hub for digital pathology, AI-ready cancer data By Anne Ruth Dela Cruz

A K AT I Me d i c a l C e nt e r (MakatiMed) is looking beyond the digitization of pathology slides as it seeks to establish itself as a national hub for digital pathology and help build the foundation for the next generation of artificial intelligence-assisted cancer diagnosis in the Philippines. The hospital recently inaugurated the Aperio GT180 DX digital pathology scanner, an investment that its pathology leadership sees not simply as an upgrade in laboratory equipment but as part of a broader effort to expand collaboration, preserve diagnostic information digitally and eventually create a repository of data that can support research and the development of AI tools suited to Filipino patients. “This acquisition represents a profound leap forward in our institutional commitment to precision medicine,” said Dr. Agripino “Beng” Javier, director of Medical Services at MakatiMed.

Strengthen diagnostic capabilities He said the technology is expected to enhance diagnostic precision, reduce technical rework and strengthen the hospital’s diagnostic capabilities. But for Dr. Redante D. Mendoza, chairman of MakatiMed’s Department of Pathology and Laboratories, the significance of the new system extends well beyond its ability to scan a larger number of slides. MakatiMed has a tradition of being among the first to adopt digital pathology technologies. Mendoza recalled that the hospital acquired an Aperio digital scanner in 2019, which he described as the first digital scanner in the Philippines. The new GT180 DX represents the next step in the hospital’s digital pathology journey. Unlike its predecessor, which could handle one slide at a time, the new system can process up to 180 slides in one run, allowing MakatiMed to move toward a workload-integrated digital pathology system. Yet Dr. Mendoza stressed that faster turnaround time is not the primary reason for the investment. MakatiMed is already achieving a 96-percent compliance rate within its three-to-fiveworking-day patholog y turnaround time, with many cases completed in two days. The greater value of digitalization, he said, lies in areas such as urgent specialist referrals, remote consultations, second opinions and long-term archiving. Digital slides can be retrieved and shared in real time, allowing pathologists to consult specialists in other institutions or overseas without having to physically transport glass slides.

PRESENT at the launch of the Aperio GT180 DX digital pathology scanner were, from left, Rey J. Lim, Vice President, Service Operations, Makati Medical Center; Dr. Agripino “Beng” Javier, Director of Medical Services, Makati Medical Center; Arnold C. Ocampo, Chief Financial Officer and interim co-president and CEO, Makati Medical Center; Dr. Redante D. Mendoza, Chairman, Department of Pathology and Laboratories, Makati Medical Center; Bob Blalock, Vice President and General Manager for APAC, Leica Biosystems; Chun Kwang Tang, General Manager, Leica Biosystems; Benedict Poh, PI Solutions Architect for APAC, Leica Biosystems; and Dr. Regina T. Edusma-Dy, medical oncologist, Cancer Institute, Makati Medical Center.

Preserve access to cases THE technology can also help preserve access to cases that might otherwise become difficult to retrieve as physical slides age, are damaged or become lost. For Dr. Regina T. Edusma-Dy, medical oncologist at MakatiMed’s Cancer Institute, the potential impact is particularly significant for cancer patients, who often wait anxiously for pathology and biomarker results before treatment decisions can be made. She said digital pathology can support multidisciplinary discussions involving complex and rare cases, including sarcoma and lymphoma, while enabling specialists who cannot be physically present to participate in consultations. For patients in the provinces, the technology could also reduce the need to physically transport pathology slides or travel to another medical center simply to obtain a specialist opinion.

Building a national network THESE capabilities form the basis of a larger ambition for MakatiMed. Dr. Mendoza said the hospital intends to establish a Digital Pathology Academy where other institutions adopting digital pathology can train with MakatiMed’s team, not only in reading digital slides, but also in understanding the workflow involved in implementing the technology, including the challenges, mistakes and lessons learned along the way. The longer-term vision is a digital pathology network that could connect hospitals across the country with specialists who can review difficult cases, whether elsewhere in the Philippines or overseas.

Such a network could help address one of the challenges facing pathology: access to highly specialized expertise. Leica Biosystems Vice President and General Manager for Asia-Pacific Bob Blalock said the shortage of skilled pathologists, increasing cancer cases and the growing complexity of diagnosis are among the pressures facing pathology departments globally. “Digital pathology is the foundation, the essential first step,” Blalock said, noting that computational pathology and AI can eventually build on that foundation to provide more consistent and precise insights to pathologists. Benedict Poh, PI Solutions Architect for APAC at Leica Biosystems, similarly emphasized that digital pathology is not simply about scanning slides more quickly. It enables remote case review, internal consultations, multidisciplinary team discussions, education and case sharing, allowing pathology information to become more readily accessible across locations. The Aperio GT180 DX can scan a 15-by15-millimeter area at 40x magnification in about 32 seconds, with a stated sustained throughput of up to 81 slides per hour. It can accommodate up to 180 slides and produces high-resolution whole-slide images.

Preparing for AI—with Filipino data PERHAPS the most consequential part of MakatiMed’s digital pathology strategy, however, lies not in what the technology can do today but in what it could enable in the future. Dr. Mendoza said the digitalization of pathology slides will create the repository of virtual

slides necessary for future AI-assisted image analysis, quantitative biomarker assessment and research. But he cautioned against simply importing AI systems developed using data from other populations. “When we acquire AI-assisted pathology systems from overseas, we need to train them for Filipino cancers,” Dr. Mendoza said, pointing to genetic variation among populations. For him, the hospital must first build the digital data necessary to train and validate such systems before AI-assisted pathology can be responsibly integrated into clinical practice. Dr. Mendoza said MakatiMed sees AI-assisted pathology becoming a possibility around 2027 or 2028, depending on the maturity of the technology, validation and available resources.

AI to support, not replace, pathologists IMPORTANTLY, he does not envision AI replacing pathologists. “AI will only be assistants to pathologists,” he said, emphasizing that the technology should augment rather than replace professional expertise. This approach also reflects the broader role MakatiMed sees for digital pathology—as an enabling technology rather than an end in itself. Arnold C. Ocampo, MakatiMed chief financial officer and interim co-president and CEO, said the move from glass slides to digital platforms represents a shift toward more precise diagnostics, seamless collaboration and more responsive patient care. But he emphasized that the true measure of the investment will not be the installation of the technology itself. “The true value of innovation is realized not when the technology is installed, but when it starts to produce meaningful results for the patients that we serve,” Ocampo said. For MakatiMed, those results could eventually extend beyond the patients who walk through its doors. By creating a digital repository, developing local expertise, training other institutions and establishing pathways for remote collaboration, the hospital hopes to contribute to a broader digital pathology ecosystem in the country. And as that database grows, it could provide something equally important for the future of cancer care: a body of Philippine pathology data that can help researchers and clinicians develop, train and validate AI tools with greater relevance to Filipino patients. “Being the first has its responsibilities,” Dr. Mendoza said. For MakatiMed, that responsibility now appears to extend from being an early adopter of digital pathology to helping bring the country’s pathology community—and eventually its AI capabilities—into the digital age.

As smoking returns to pop culture, WHO sets climate-migration-health research priorities youth advocates call for tighter controls Research gaps By Patrick Villanueva

By Claudeth Mocon-Ciriaco

ROUND the world, smoking is once again finding its way into popular culture. From films and television to fashion, music and social media, tobacco use is increasingly being portrayed as stylish, nostalgic or rebellious. Recent discussions about the return of smoking imagery in popular culture, including in fashion editorials, films, television, music and digital media, have renewed concerns among public-health advocates about the re-normalization of tobacco use, particularly among young people. As these portrayals extend far beyond traditional media, Global Youth for Tobacco Control (Y4TC) is calling on governments to fully implement and enforce the World Health Organization Framework Convention on Tobacco Control (WHO FCTC), particularly Article 13, which seeks to eliminate all forms of tobacco advertising, promotion and sponsorship (TAPS), including indirect promotion through entertainment and digital media where appropriate. Evidence has consistently shown that exposure to smoking imagery in entertainment and media can influence young people’s attitudes toward tobacco and increase the likelihood of tobacco initiation, Y4TC said.

Sending the wrong message

THE group added that at a time when countries are working to reduce tobacco use and protect future generations, the re-emergence of smoking as a cultural trend sends the wrong message. “Smoking should never be romanticized or portrayed as a symbol of confidence, freedom or success. Such portrayals undermine decades of tobacco-control efforts and increase the risk of tobacco initiation among

young people,” Y4TC said. The group noted that tobacco use remains one of the leading causes of preventable death worldwide, claiming more than 8 million lives each year. While recognizing the important role of artists, filmmakers, content creators, influencers and digital platforms in shaping public attitudes, Y4TC stressed that creative expression also presents an opportunity to promote healthier narratives and avoid glamorizing tobacco use. “Creative expression is essential, but it also comes with the opportunity to promote healthier narratives and avoid the glamorization, commercial promotion or presentation of tobacco use without appropriate context, particularly where young audiences are concerned,” the group said. Specifically, Y4TC called for the following actions: Governments and regulators: Enforce comprehensive TAPS bans, including on digital and cross-border promotion; monitor tobacco product placement; and require appropriate classifications and public-health messaging. Media industries and creators: Refuse payments, products or other benefits from the tobacco industry, and avoid identifiable tobacco branding and glamorized depictions aimed at young audiences. Digital platforms: Enforce restrictions on tobacco advertising and paid influencer promotion, establish accessible reporting mechanisms, and act promptly on violations. Y4TC said protecting young people from the normalization and glamorization of tobacco use requires stronger enforcement across both traditional and digital media, as well as greater responsibility from those who shape popular culture.

HE World Health Organization (WHO) is building on its 2023 Global research agenda on health, migration and displacement by identifying key research priorities on the intersection of climate change, migration and health. The latest report, titled “Global research prioritization and action plan on health, migration and displacement in the context of climate change,” was launched during a global virtual webinar on July 22, 2026. It represents the first thematic deep dive under the WHO’s Global research agenda on health, migration and displacement. The 2023 agenda was developed to address gaps in comprehensive, high-quality and policy-relevant research on the health of migrants, refugees and other displaced populations. It was based on consultations with more than 180 stakeholders across different regions and established global research priorities for the field. The latest research prioritization exercise recognizes climate change as an increasingly important driver of migration and displacement, particularly among populations already in vulnerable situations and with limited adaptive capacity. Climate change can also affect their health and access to health services throughout the migration and displacement journey. The report identifies priority research areas across three core themes—social determinants of health, universal health coverage and emergencies—and two cross-cutting themes focused on data, policy and interventions, and health outcomes.

AMONG the identified research gaps are the effects of social and structural determinants on health, barriers to health-care access, the inclusion of migrants and displaced populations in health systems and emergency responses, the long-term health impacts of displacement, and the need for improved data and intersectional analyses. The exercise also calls for research into climate change and its relationship with health, migration and displacement, including early warning signs of climate-related health risks and approaches to strengthening preparedness and response. “Closing research gaps is a matter of equity. To achieve universal health coverage, strengthen climate resilience and advance health equity, migrant and displaced populations must not be an afterthought, they must be part of the solution from the beginning,” said Dr. Santino Severoni, Head of WHO Health and Migration. The Global Research Prioritization Exercise emphasized that research must be interdisciplinary, cross-sectoral and contextsensitive. It also called for a paradigm shift toward inclusive, equity-driven research that recognizes the diversity of migrant experiences and climate impacts. “Climate change is already affecting the health and mobility of populations around the world. Strengthening the evidence base is essential to inform effective policies and ensure that those most affected are protected through climate-resilient and equitable health systems,” said Dr. Diarmid CampbellLendrum, Head of WHO Climate Change, Energy and Air Quality.

First 2,000 days seen as key to healthier childhood By Rizal Raoul S. Reyes Contributor

ROVIDING children with balanced nutrition during their first 2,000 days, from pregnancy through early childhood, can help lay the foundation for better health and development, according to Nestlé Philippines. The first 1,000 days, covering pregnancy through a child’s second birthday, has long been recognized as a critical period for establishing lifelong health. But Nestlé Philippines is also looking at the succeeding years, arguing that opportunities to improve children’s nutritional status extend beyond age two. “The first 1,000 days is indeed very important,” said Edelweiss Sicat, nutrition advocacy lead of Nestlé Philippines, during a recent media roundtable in Makati City. She noted, however, that appropriate nutrition, fortification and healthier food choices can continue to support children’s development in the years that follow. Jose Uy III, senior vice president and head of corporate affairs at Nestlé Philippines, emphasized that the broader focus does not diminish the importance of the first 1,000 days. Cha Sy, corporate nutritionist at Nestlé Wellness Campus and project lead, said efforts could include food fortification and expanding access to products that contribute to children’s nutritional needs. The company also reiterated that breastfeeding remains the best option for infants. Uy said breast-milk substitutes are intended for situations in which mothers are medically unable to provide sufficient breast milk.

Beyond nutrition

THE discussion also highlighted the role of added sugar and overall lifestyle in children’s health. Sy stressed the importance of limiting added sugars as part of a healthier diet. For a 2,000-calorie daily diet, Sicat said the commonly cited limit for added sugars is about 50 grams, or roughly 10 teaspoons. This refers to sugars added to foods, such as table sugar and honey, rather than naturally occurring sugars in whole foods. Naturally occurring lactose in milk and sugars found in whole fruits are treated differently from added sugars in dietary guidance, Sy explained. But she said the broader issue goes beyond sugar intake, with nutrition advocates and policymakers increasingly considering children’s overall diet, physical activity and lifestyle. “The broader issue, however, goes beyond sugar intake,” Sy said, noting that digitalization is changing how children spend their time. Uy likewise pointed to the growing use of digital devices and sedentary activities, saying nutrition policies should be complemented by efforts to encourage children to remain physically active. The company also called for major food and nutrition policies to be grounded in scientific evidence and developed through consultation with stakeholders. “Any major policy that is being created by legislators or the government has to undergo scientific or evidence-based assessment,” Uy said, adding that consultation with affected sectors and regulatory impact assessments are also important. He also urged policymakers to consider whether food and nutrition interventions remain accessible and affordable to Filipino families. This is particularly relevant as the government continues to address the country’s “triple burden of malnutrition”—undernutrition, micronutrient deficiencies, and overweight and obesity. Sicat said a proposed Philippine nutrition profiling model is also being evaluated as a possible tool for providing clearer guidance on the nutritional characteristics of food products. Uy said Nestlé Philippines and other industry organizations have participated in discussions on nutrition-related policies, while emphasizing that decisions on proposed measures ultimately rest with the appropriate government agencies.

Building healthier generations

NESTLÉ Philippines said its focus on the first 2,000 days is consistent with its broader goal of helping improve the quality of life of Filipino families. “The focus on the first 2,000 days therefore represents a broader view of childhood nutrition: ensuring that children receive appropriate nourishment during pregnancy and early childhood while creating healthier habits that can continue into later years,” Uy said. For policymakers, he said the challenge is to ensure that nutrition interventions are supported by credible scientific evidence, meaningful consultation, and policies that Filipino families can realistically afford and access. “The ultimate objective is not simply to address nutritional deficiencies today, but to help build healthier generations of Filipinos in the years ahead,” Uy said.

Thursday, August 20, 2026

AL88 Trading CEO is Philippine Faces of Success awardee

DBP to push for deposit expansion to widen funding base for financing activities

tate-owned Development Bank of the Philippines (DBP) is undertaking an aggressive deposit generation campaign to widen its funding base to support its various lending activities, a top official said. DBP President and Chief Executive Officer Michael O. de Jesus said the Bank has launched a “Save 2 Win” promotion to generate fresh deposits from both individual and institutional depositors to expand in financing activities geared

towards high-impact developmental projects. “We believe every deposit entrusted to DBP will help strengthen its capacity to finance transformative projects that will support economic growth, create jobs, and improve the lives of communities across the country,” de Jesus said. DBP is the tenth largest bank in the country with total assets of P1.036 trillion and provides credit support to four priority sectors of the economy – infrastructure and logistics; micro, small and medium enterprises; the environment; and social services and community development. De Jesus said the campaign is expected to widen DBP’s deposit base, which grew by 15.51 percent to P413.41 billion in the second quarter of the year from P357.91 billion for

NALYN Lobedesis, owner and CEO of AL88 Modular Cabinets Trading was conferred with the prestigious Philippine Faces of Success Award in rites held at the Camelot Hotel in Quezon City recently. The award was given to Lobedesis for her dedicated service and commitment to the industry by providing high quality products coupled with excellent customer service. “I personally supervise the progression from the building to the delivery and installation of our products. At AL88, we prioritize customer satisfaction by providing high grade products and services”, she said. AL88 Modular Trading manufactures, distributes and install various modular cabinets including kitchen wardrobe, display and entertainment, among others. These are available in their showrooms located at MC Home Depot, Ortigas, CW Home Depot, San Fernando Pampanga and at the main showroom in Taytay Rizal. For additional details contact 09154043128 /09497952346.

the same period last year. He said that the campaign offers cash prizes of up to P250,000 to winning individual depositors and gift certificates to winning institutional depositors, which also aims to promote greater financial inclusion, especially among underbanked and unbanked segments of the population. “We hope to inspire more Filipinos to save not only for achieving their personal financial goals but also for contributing to nation-building and achieving sustainable progress,” he added. The “Save 2 Win” promo is open to eligible depositors in all DBP branches nationwide and will run until December 31, 2026. Mechanics of the promotion can be accessed through the DBP website (www.dbp.ph).

Makati Chemotherapy Center opens to provide free chemotherapy to its residents

In the photo are, from left, Regional Director BJMP NCR Jail Chief Superintended Baby Noel Montalvo, and other guests, SM Hotels & Conventions Corporation (SMHCC) Executive Vice President Peggy Angeles; Quezon City Mayor Joy Belmonte; Father of Severino Montallana II, Marissa Basa, Severino Montallana II, Mother of Severino Montallana II, General Manager Reycie Gutierrez, Jail Superintendent Maria Lourdes Pascion, SM Hotels & Conventions Corporation (SMHCC) Senior Vice President Operations Cathy Nepomuceno; SM Hotels & Conventions Corporation (SMHCC) AVP Public Relations Nian Rigor; Park Inn by Radisson Clark Cluster Director People and Culture Fernando Manalang; Multi-access Cooperative Agency Harlyn Hilado; Multi-access Cooperative Agency Stephanie Cabahug; Multi-access Cooperative Agency Davis Kong.

From QC to the nation: SM Hotels champions hospitality as pathway to second chances

M Hotels & Conventions Corporation (SMHCC), through its hotel properties Park Inn by Radisson North EDSA and Radisson Blu Hotel Cebu, is utilizing hospitality training to help Persons Deprived of Liberty (PDLs) gain industry-relevant skills and transition into actual employment. Through partnerships with local governments, the Bureau of Jail Management and Penology (BJMP), the Technical Education and Skills Development Authority (TESDA), Radisson Hotel Group, and other stakeholders, SM Hotels is helping create a practical link between skills development, hospitality employment, and life beyond detention. This nationwide advocacy traces its beginnings to the Quezon City Government under Mayor Joy Belmonte, whose “No Woman Left Behind” and “No Juan Left Behind” programs provide PDLs with opportunities to gain practical skills and prepare for their transition back into the workforce. SM Hotels has supported these initiatives by bringing its hospitality expertise and training capabilities into the programs, creating opportunities for qualified graduates to apply their skills in an actual hotel environment. In 2024, Park Inn by Radisson North EDSA launched Basic Housekeeping Skills Training for women PDLs at the Quezon City Jail Female Dormitory. The program expanded in 2026 to the Quezon City Jail Male Dormitory through Basic Food and Beverage Operations Training, providing both women and men with industry-relevant skills aligned with actual hotel operations. For SM Hotels, the impact of these programs goes beyond training completion. The ultimate measure is the ability of graduates to translate their newly acquired skills into meaningful work. In particular, Park Inn by Radisson North EDSA recently welcomed Severino Montallana II, its first hire under the “No Juan Left Behind” program. After completing the Basic Food and Beverage Operations Training while at the Quezon City Jail Male Dormitory, Montallana regained his freedom and subsequently

joined the hotel workforce. Montallana joins Marissa Basa, the first graduate of the hotel’s Basic Housekeeping Skills Training for women PDLs to secure employment at Park Inn by Radisson North EDSA after her release. “The stories of Marissa and Severino remind us that rehabilitation becomes truly meaningful when it leads to a real opportunity beyond the walls. We are proud to be part of a program that gives people the chance to move forward with dignity and purpose,” said Reycie Gutierrez, General Manager of Park Inn by Radisson North EDSA. The programs are anchored on collaboration among the Quezon City Government, BJMP, SM Hotels, Radisson Hotel Group, Multi-Access Cooperative, and training partners, demonstrating how government and the private sector can work together to build a framework that connects rehabilitation and skills development with employment. This approach has already gained ground beyond Quezon City, with its implementation in another SMHCC property in Cebu. At Radisson Blu Hotel Cebu, a similar hospitality training program is being conducted at the Cebu City Jail Female Dormitory in partnership with BJMP, TESDA, and other stakeholders. Under the “Skills Behind Walls” program, PDLs receive hands-on housekeeping training in a mock-up hotel room built within the jail facility and aligned with hospitality industry standards. The first Cebu batch produced 24 graduates, with Kimberly Cabahug among its success stories after securing employment as a public area attendant at Radisson Blu Hotel Cebu and beginning her journey back into the workforce. “This is not just about giving a job. More importantly, it is about giving people the skills, confidence, and opportunity to rebuild their lives and become productive members of society,” said Ann Olalo, General Manager of Radisson Blu Hotel Cebu, highlighting how employment can help former PDLs transition back into the community and establish more stable livelihoods.

The programs in Quezon City and Cebu demonstrate how SM Hotels can use its properties, hospitality expertise, and operational environment to provide training that is directly relevant to the workplace. With hotels requiring skilled personnel across housekeeping, food and beverage, public areas, kitchen operations, and other functions, the hospitality sector can provide practical avenues for qualified PDLs to put their training to work. The model can also be adapted by other cities based on their local needs, available training resources, and employment requirements. At its core is a practical framework: equip PDLs with industry-relevant skills, provide hands-on training, and help qualified graduates transition into the workforce. In the case of SMHCC, its portfolio of hotels across key destinations provides a platform to bring this advocacy to more locations while working alongside local governments, BJMP, TESDA, and other partners. Each program can respond to the needs of its host city while drawing on the hospitality industry’s capacity to provide relevant training and actual employment opportunities. “Mayor Joy Belmonte started this effort with a clear vision of leaving no one behind, and it has now grown into an advocacy with the potential to reach more cities across the country,” said SM Hotels & Conventions Corporation Executive Vice President Peggy Angeles. “As one of the country’s leading hospitality groups with a nationwide footprint, SM Hotels is in a unique position to help turn this vision into reality by bringing together our properties, partners, and stakeholders to help more PDLs gain skills, find meaningful work, and move forward,” Angeles added. SM Hotels is putting the capabilities of the hospitality industry to work beyond its hotels, thus turning industry training into practical skills and actual employment for qualified PDLs. From Quezon City to Cebu, its initiatives demonstrate how hospitality can serve as a platform for skills development and inclusive employment, one skill, one graduate, and one job at a time.

ANCER continues to be a leading cause of illness and death nationwide. According to the Philippine Statistics Authority, Cancer ranked as the second leading cause of death in 2025, accounting for 58,656 deaths, or 11.5 percent of all recorded deaths from January to October 2025. Makati Chemotherapy Center, a subsidiary of We Hope Medical Group, has opened at JM Bldg1 Gate 4 1069 Arthur St. to address the rising demand for free chemotherapy treatment for Filipinos in Makati City, allowing them to focus on their treatment journey without the financial burden. The launch of the center was attended by Dr. Bernard See OIC of Makati City Health, who expressed their gratitude to We Hope Medical Group for expanding its services in Makati City. The center is staffed by licensed oncology doctors, equipped with modern treatment facilities. Services include consultation, laboratory diagnostics, free chemotherapy sessions covered by PhilHealth, cancer assistance fund, and other LGU programs. The center is open from Monday to Friday, 8 am to 5 pm. Health advocates emphasize the urgent need for expanded oncology infrastructure in Metro Manila, including more cancer centers, trained specialists, and accessible diagnostic services. Early detection programs and communitybased awareness campaigns are also critical to reducing mortality rates. Despite the passage of the National Integrated Cancer Control Act (NICCA), many patients continue to struggle with late diagnosis, limited access to specialized care, and high out‑of‑pocket expenses. Chemotherapy alone can cost up to

P120,000 per cycle, with total treatment reaching P5 million or more, pushing families into debt, asset liquidation, or treatment abandonment. With thousands of patients delaying or abandoning treatment due to cost, We Hope Medical Group is here to operate specialized medical facilities and programs that make treatments accessible, affordable, and sustainable. This is made possible through strong partnerships with LGU’s, the national government, and communities. The organization’s rapid growth reflects a deep commitment to public health innovation, community partnership, and sustainable healthcare delivery. By targeting 100 operational centers by year-end, We Hope Medical Group is setting a new national standard, one where compassion meets innovation, and where healthcare systems are built around the needs of the people. The launch of these centers marks a historic milestone ensuring that financial barriers no longer stand between patients and life-saving treatment. “Our mission is simple but powerful. No Filipino should ever have to choose between financial survival and lifesaving cancer treatment,” Dr. John Paul Aclan DBA. We Hope Medical Group proudly highlights the visionary leadership of the Chairman and CEO, whose bold vision and unwavering commitment to accessible healthcare have redefined cancer care for Filipino families. Through his pioneering efforts, the organization has opened state-of-the-art chemotherapy centers in Metro Manila, Luzon, Visayas and Mindanao, offering free chemotherapy services to Filipinos.

The turnover ceremony was attended by OFI President James Lorenzana and representatives of the Malasakit and Bayanihan Foundation, led by Secretary General and Treasurer Marc Benedict R. Talavera and Chief of Staff Dr. Shane Kinsley E. Veloso. Also present were Atty. John Cyril E. Santiago, Utopia G. Cuyugan-Talavera, and Mariano L. Valiente Jr.

Okada Foundation, Inc. extends P20M donation for nationwide relief, education assistance

KADA Foundation, Inc. (OFI) turned over a P20 million donation to the Malasakit and Bayanihan Foundation, Inc. on August 11, 2026, at Okada Manila, supporting nationwide humanitarian relief and educational assistance for Filipino families in need and underprivileged graduates. The turnover ceremony was attended by OFI President James Lorenzana and representatives of the Malasakit and Bayanihan Foundation, led by Secretary General and Treasurer Marc Benedict R. Talavera and Chief of Staff Dr. Shane Kinsley E. Veloso. Also present were Atty. John Cyril E. Santiago, Utopia G. CuyuganTalavera, and Mariano L. Valiente Jr. The donation will support the foundation’s “Malasakit sa Kapwa” Nationwide Humanitarian and Educational Recognition Program. It will fund grocery packs containing food and hygiene essentials for indigent families, particularly those affected by natural and man-made disasters, as well as graduation grocery gift packs for underprivileged graduates of state universities and Technical Education and Skills Development Authority (TESDA) institutions. As the charitable arm of Okada Manila, OFI sees the contribution as an opportunity to help address needs that directly affect families and communities. The donation will provide practical relief to Filipinos facing difficult

circumstances, including those rebuilding their lives following disasters, while supporting underprivileged graduates as they complete their education and prepare for what comes next. “Our partnership with the Malasakit and Bayanihan Foundation, Inc. allows us to reach Filipinos at different points of need, from families facing difficult circumstances to graduates preparing for what comes next,” said James Lorenzana, President of Okada Foundation, Inc. “Through initiatives like this, we hope to contribute to stronger, more resilient communities and create an impact that extends well beyond the assistance we provide today.” OFI advances its social development initiatives through four key pillars: Health, Education, Cultural Heritage, and Environment. This partnership reinforces its commitment to Education through assistance for underprivileged graduates, while extending humanitarian support to families and communities facing difficult circumstances. Through partnerships with organizations that share its commitment to meaningful social impact, OFI continues to translate these priorities into programs that address real community needs and create lasting benefits for Filipinos across the country. For more information about Okada Foundation, Inc.’s initiatives, visit www.okadamanila.com.

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Editor: Gerard S. Ramos • Thursday, August 20, 2026

Think twice, start early: Raising safer digital families D

IGITAL parenting is becoming less about keeping children away from technology and more about preparing them to use it with judgment, balance and confidence. That was one of my strongest takeaways from TikTok’s #ThinkTwice Troop Townhall, held in celebration of International Youth Day, where TikTok officially launched its #ThinkTwice Family Guide in the Philippines. Created with Child Rights Coalition-Asia, Child Rights Network and Plan International Pilipinas, the guide aims to help Filipino families begin open conversations, build trust, and develop healthier and safer digital habits together. It contains conversation starters, reflection activities, digital safety tips, and information about TikTok’s tools and safety features. Families can find it by searching “Think Twice” on TikTok, which leads to the #ThinkTwice Digital Check-In Hub. Yves Gonzalez, TikTok public policy head for the Philippines, put the campaign’s premise clearly: “For many families today, digital life is no longer separate from everyday life—where young people learn, socialize, create, and discover who they are.” He added, “That’s why building healthier digital habits requires more than rules alone. It requires open conversations, mutual understanding, and practical tools that families can explore together.” For parents of younger children, I believe this conversation should begin even before our children become teens. We can build the habits that will later shape how they respond to screens, emotions and

boundaries. This is where the practical pointers of developmental and behavioral pediatrician Dr. Francis Dimalanta stood out for me. Dimalanta’s reminders put the Teens first: Establish daily routines; support Emotional regulation; be “Now,” or be present in the moment; and Spark conversation (TEENS). On routines, he reminded parents that “adolescent sleep architecture is already vulnerable.” For younger children, the larger lesson is useful: predictable family routines can create structure before devices become a source of negotiation. His point on emotional regulation is just as important: “When they are crying, you don’t tell them to stop crying.” Children need help feeling and regulating emotions rather than simply being told to switch them off. When home is a safe place for feelings while our children are small, we build the possibility that they will come to us with harder experiences later. Being “Now” means dealing with the child and their concern in front of us rather than bringing back every past mistake. And to spark conversation, parents need to move beyond questions that can be answered with one word. We can share something from our own day, ask what made them laugh or what made them curious. Conversation is a habit too. The #ThinkTwice initiative supports this family approach with concrete safeguards. According to TikTok, teen accounts have more than 50 preset safety and privacy features and settings, including private accounts, content restrictions and daily screen-time limits set to 60 minutes. The Family Digital Check-In Guide complements TikTok’s Safety Center resources, including its Guardian’s Guide and Teen Safety Center, as well as Family Pairing tools. Sheila Estabillo of Plan International Pilipinas said: “For parents, our goal is not to become the technology police. We don’t need to know every app or every trend. What matters more is becoming a trusted digital guide—someone your teen can turn to when something uncomfortable or confusing happens online.”

FROM left: Yves Gonzalez, public policy head for the Philippines, TikTok; Amihan Abueva, regional executive director, Child Rights Coalition Asia; Sheila Estabillo, program manager, Plan International Pilipinas

Amihan Abueva of Child Rights Coalition Asia brought the discussion back to something that begins long before a first social-media account: relationship. “Building the link between the parent and the teen is something even before the digital conversation comes in. So, if you have developed a good relationship with your teen, where they feel comfortable, hopefully that extends when they enter the digital world.” For me this is especially valuable for parents of younger children. Digital safety does not suddenly begin when a child becomes a teenager. We prepare for it in the ordinary years before that—in routines, play, conversations, boundaries and trust. In my interview with undersecretary Angelo Tapales of the Council for the Welfare of Children, he also emphasized that children have a right to play, including leisure and open spaces where they can play. A healthy childhood must include a world

beyond the screen. I believe simplifying parenting means focusing our energy on what matters most. We may never master every new platform our children will encounter, but we can know our children. We can listen, stay present, create routines, protect time for play and keep conversation open. If #ThinkTwice begins with one simple family habit, perhaps it is this: Before we ask our children to think twice online, let us build the kind of relationship that makes them want to talk to us first. Next week, I will share in more detail thoughts from panelists Sheila Estabillo, program manager, Plan International Pilipinas; Amihan Abueva, regional executive director, Child Rights Coalition Asia; Dr. Francis Dimalanta, developmental and behavioral pediatrician; and Kuya Kim Atienza, veteran television host, educator and parent creator.

How to make the most of parent-teacher conferences during back-to-school and beyond By Cheyanne Mumphrey The Associated Press FLAGSTAFF, Arizona—Parent-teacher conferences can conjure a familiar scene: adults crammed into child-size chairs, listening to teachers run through a list of students’ achievements and struggles. For many families, they can also mean frustration. Today’s school conferences are sometimes 15 to 20 minutes, with little time for parents to ask their own questions. Adults may arrive with their own baggage about their time in school. They may be worried about being judged or dreading what a teacher may say about their child. For teachers, conferences can mean pressure to give a snapshot of a child’s progress, with the next opportunity to connect months away—if at all. The conference may be brief, but it can set the tone for a family’s relationship and partnership with the teacher. Parents, teachers and school administrators have these tips to make the conference productive and help build a stronger connection between home and school.

COMMUNICATE EARLY AND FIGURE OUT WHAT WORKS

SCHOOLS typically offer several early opportunities for parents and teachers to connect, from meet-the-teacher events and back-to-school nights to open houses. By the time conferences are on the calendar, parents and teachers should already be communicating. But sometimes it can take weeks, or even months, to hear from your child’s teacher, who must establish relationships with dozens of families. Don’t wait, say parents and teachers alike. Take the initiative and reach out yourself. “Do you want to set your child up for success? It’s a yes or no. And if it’s a yes, then you have to be very involved,” said Bell White, a Houston mother of two. When her son Lennox, now 8, was in preschool, four teachers came and went during the school year. White quickly learned how important it was to stay engaged with the school. Since then, she has introduced herself

conversations that a student wouldn’t want to be a part of or be able to focus through.” Older students have more agency over their learning and are better positioned to contribute to discussions about their progress, challenges and possible next steps, experts say. “We’re doing students a disservice when we’re not teaching them how to advocate, when we are not teaching them those communication skills, to have the tough conversations when they need to be had,” said Kendrick Friendly, who is a high school assistant principal with Denver Public Schools. “This is a safe space for those conversations to happen.”

QUESTIONS TO CONSIDER to each of her son’s teachers at the first opportunity, even if virtually. She tells them how she prefers to communicate— whether over email, phone or via a school app—and when she’s most reachable. Technology can make it easier for parents with multiple children or busy schedules to stay connected, and for teachers to send quick messages or reminders. But with schools using multiple platforms, some parents say it helps to establish a preferred way to communicate. Early in the relationship, parents and teachers should focus on building trust, said J.B. Robinson, a clinical psychologist and dean of students at National University in San Diego. Positive interactions are like putting money into a relationship bank that can be drawn on when challenges arise, he said. For parents, that can mean showing interest in the classroom and recognizing the effort that goes into creating a positive learning environment. Teachers can similarly begin with questions about the individual child, rather than immediately moving into classroom expectations or academic performance. Whatever the nature of your first communication with a teacher, try not to worry that you’re bothering the teacher. Your child’s growth is the priority, and communicating with you is part of the

teacher’s job.

MAKE THE TIME COUNT

PARENT-TEACHER conferences are designed to address students’ academic and social progress, identify concerns and discuss what comes next, but there may not be time to cover everything parents or teachers want to discuss. “The teacher and the parent need to go in with realistic expectations as to what can actually be accomplished in one parent-teacher conference and see that more as a starting point for a conversation,” said Robinson, the psychologist. The meetings can also be ripe for tension. Teachers may be having dozens of back-to-back conferences, while parents may arrive with weeks’ worth of questions, all seemingly valid. Depending on the school and the child’s grade, some teachers follow a set agenda, with presentation slides, packets or lists of topics to cover. Emily Henderson, who teaches first and second grade at BASIS Charter School in Flagstaff, Arizona, says her conversations are mostly individualized, with some focusing more on academics and others on social-emotional needs. “We use parent-teacher conferences to really talk about strengths, talk about weaknesses of students, and then come up with a plan together to address

those concerns or address those needs,” Henderson said. Given time constraints, parents should come with just a few thoughtful questions, teachers say. But remember this is a starting point. It’s totally reasonable to set up another conference later in the year, even if your school doesn’t have one scheduled. Or you can continue the conversation online or over the phone.

WHAT TO DO IF YOUR KID IS PRESENT

SOME schools recommend that students join the conference, and in other cases, a parent may want to bring them along— or need to, if they lack child care. For younger students, teachers recommend asking in advance whether they should attend, if that is an option. If you do plan to bring the student or younger siblings, let the teacher know ahead of time so they can prepare for a more engaging meeting or set up a few distractions. If younger students are present, it is up to administrators and teachers to engage them and speak directly to them, said Kellie Hintze, head of school at BASIS Flagstaff. “When I have younger students at a meeting, we typically have a mini meeting with the student and the parent,” she said. “Then we can dive a little deeper or have those long, drawn-out

PARENTS don’t need to arrive with a long list of questions. A few thoughtful ones can help clarify what a teacher considers success, what they are seeing in the classroom, what support is available and how to stay connected throughout the year. Consider asking: 1. How do you prefer to communicate with parents, and how often should we check in? 2. What does success look like for my child this year? 3. How do you identify when a student is falling behind, and who should I speak with about getting additional support? 4. What are you noticing about my child that I might not see at home?

LEAVE WITH A PLAN

PARENT-TEACHER conferences do not resolve every concern, but they should identify next steps, whether those are regular check-ins, strategies for improved behavior or additional resources, such as tutors, specialized instruction or extracurricular activities. Before leaving, make sure everyone knows what happens next, who is responsible for it and when you’ll check back in. Don’t be afraid to request another conference later in the year. Remember: Your child’s growth is the priority, and it will take everyone in the room to get there.

PHOTO BY VITALY GARIEV ON UNSPLASH

Thursday, August 20, 2026

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Flood control master plan must survive regime changes–Lacson By Butc Fernandez @butchfBM

NY flood control master plan being crafted must not only be technically comprehensive but also be designed to span multiple administrations, ensuring continuity despite changes in government, Sen. Panfilo M. Lacson stressed on Wednesday. Lacson made the call after noting that the master plans of previous administrations were often discarded by the successors, leaving ordinary Filipinos to continue suffering from the effects of flooding. “There should be continuity and the master plan should be multi-administration in scope. It must be designed to cross administrations. Minor modifications can be made over time to adapt to new situations, but the core of the basic plan must remain,” he said in a radio interview. Lacson noted that during the Aquino administration, then Public Works Secretary Rogelio Singson drew up a master plan for flood control, but this was disregarded by the Duterte administration. Lacson noted that funding for f lood control projects rose sharply across successive administrations. From 2011 to 2016, funding stood at P183.546 billion. This increased to P748.417 billion from 2017 to 2022, and surged to P1.0066 trillion from 2023 to 2025. “I recall Singson crafting a master plan that was costefficient and systematic. But when there was a change in administration, that plan was discarded. This has been the pattern where each administration insists on having its own master plan,” he said. Also on Wednesday, Lacson pointed out that civil engineers and their forensic expertise can play a major role in establishing accountability not only for flood control projects but for other infrastructure such as roads and bridges. Lacson called on civil engineers’ associations to organize inspection teams that can examine roads, bridges and other infrastructure damaged by recent floods, and

determine through forensic analysis whether the damage was due to structural design or implementation. “We can call on associations of civil engineers to help in the inspection of infrastructure, including those damaged by recent floods. They can use forensics to determine if the damage stemmed from faulty structural design or implementation,” he said in an interview. “As of now, no one is being held accountable. If we are to go after those responsible, we must start inspecting projects implemented in the last five years or so,” he added. Lacson said that had Singson’s master plan been followed, some of the P1.939 trillion poured into the Department of Public Works and Highways alone for f lood control could have been avoided or used more efficiently. Worse, he said that based on the testimonies of former Public Works officials Roberto Bernardo, Henry Alcantara and Brice Hernandez, 35 to 40 percent of the P1.939 trillion could have been lost to corruption. “Kwentahin nyo na lang ang 35-40 percent ng P1.9 trillion kung magkano ang nawala. Tapos nandiyan pa ang baha [You can compute how much is 35 to 40 percent of P1.9 trillion—that is the amount lost to corruption. And yet, the floods are still there],” he said. Meanwhile, Lacson said forensic inspections could help establish responsibility and identify those who should be held accountable, including contractors, Department of Public Works and Highways (DPWH) officials, and politicians who proposed the infrastructure projects. “The infrastructure projects must be inspected, and the contractors, DPWH officials and politicians who are proponents of the projects must be held accountable,” he said. This accountability drive should cover not only flood control projects but also other infrastructure projects whose failures may have been exposed by recent flooding, he added.

Cops move to prevent recruitment of possible mercenaries

HE National Police (PNP) has intensified efforts to prevent Filipino jobseekers from being lured into joining armed conflicts abroad. In a statement, the PNP Chief, Gen. Jose Melencio Nartatez Jr., said the PNP is investigating reports of Filipinos being recruited to participate in foreign conflicts through combat-related activities. “We are coordinating with the Armed Forces and the intelligence community regarding this serious matter. If there is any, our goal is to shut down the network of recruitment in the interest of protecting all our kababayan,” he said, adding that this is in line with the directive of President Marcos Jr. through the guidance of Interior Secretary Juanito Victor Remulla, to strengthen

efforts against illegal recruitment and protect Filipinos from schemes that could put their lives and safety at risk. Earlier, reports said a Filipino was killed while fighting alongside Russian forces in the ongoing conflict in Ukraine. Reports said the Filipino had signed a contract with the Russian armed forces in May. There were claims that at least three more Filipinos were recruited. The PNP reminded jobseekers to exercise caution when considering employment offers involving overseas security or other related work. The public is also urged to verify recruitment offers and report suspicious activities to authorities. Rex Anthony Naval with PNA

drive Remulla: Unlicensed persons Govt vs reds gains using unregistered firearms momentum behind 98% of gun violence T By Jonathan L. Mayuga

@jonlmayuga

NTERIOR Secretary Juanito Victor Remulla on Wednesday has called on the Congress to amend Republic Act 8294, which made illegal possession of firearms a bailable offense. Remulla said this is the reason why gun crimes have surged over the past few years, because the offense became bailable. “We looked at the numbers, 98 percent of gun crimes are committed with loose firearms,” he said. Remulla said the law, informally called the Robin Padilla Law, is to blame for the surge of gun-related crimes, the latest of which was the death of two students, including the student-suspect at the Ateneo de Zamboanga University in Zamboanga City. “I am proposing to Congress to make it a non-bailable offense,” he said. In recommending the amendment, or reversal of the stiff penalty of the law, the DILG chief wants to restore strict legal barriers, making unauthorized possession of firearms a preventable, non-bailable violation to keep criminals off the streets.

Revilla earlier issued a statement condemning the incident, which saw the suspect even livestreaming his acts before committing suicide by jumping from the fifth floor of the school building. Police are still investigating as to what prompted the suspect to commit the crime. Earlier, Remulla issued a statement condemning the sad fate of the victims. “It is with profound sadness that we find ourselves undergoing yet another trial as a society. In the midst of incessant rains and an impeachment trial, we now find ourselves investigating the latest tragedy in Zamboanga City.” “Once again, it involves students. Once again, it involves firearms. Once again, it has cost lives.” “The safety of Filipino children is paramount.” He added that children know few things about politics as they have still to discover and discern

right from wrong, thus the incident must not be politicized. “What is confounding is the cruelty of the crime. It is one of the few times where everyone is a victim. The shooter, however young and troubled he may have been, is himself a victim of what I believe are video games inhabited by actors who induce terror, influencing young and fallible minds,” he said. “The students, security guards, and others who were injured have no sin except being at the wrong place at the wrong time,” he said. The DILG chief said the safety of everyone is paramount. “Whether you are caught in a f lood or a fire, or find yourself in the crosshairs of a gunman, we should be protecting you.” According to Remulla, gun ownership is a privilege accorded to those who need to protect themselves. But that privilege carries with it not only the responsibility of ownership, but the responsibility of safekeeping. One cannot exist without the other. “We will take the steps to ensure that this kind of tragedy can be prevented. If that hurts the sensibilities of a few, or of the many, then let your voices be heard. We will make the hard choices to protect the Filipino people. The social contract holds. This country will remain safe. That is our duty,” Remulla ended.

HE campaign against communist insurgency is gaining momentum as the Armed Forces reported “neutralizing” 1,045 New People’s Army (NPA) rebels and their supporters during operations conducted from January 1 to August 13 this year. Of the total, 935 surrendered, 38 were arrested, and 72 were killed in various military operations, the AFP spokesperson, Col. Francel Margareth Padilla, said in a media interview. “A total of 661 firearms and 255 anti-personnel mines were either seized or surrendered, and 38 encampments were seized [during the same period],” she said. Neutralized is a military term that refers to the surrender, capture, or killing of enemy troops. “The numbers give us an indication of the operational situation, but we should look beyond the numbers. The more significant story is that 935 CTG [communist terrorist group] members and supporters chose to surrender,” Padilla pointed out. In 2025, the military said it neutralized around 2,018 NPA members and their supporters. The bulk of whom were surrenderers, at 1,798, while 93 were arrested and 127 were killed. A total of 1,134 firearms and 531 anti-personnel mines were either seized or surrendered, and 149 NPA encampments were captured. Rex Anthony Naval with PNA

Cebu rockfall victims get new houses By Carmel Pedroza

AGA CITY, Cebu— Some of the families that were affected by a recent rockfall in Naga City are among the initial 56 beneficiaries of the city government’s low-cost housing program, which is moving forward despite rising construction costs. The city has prioritized 18 families in barangay Uling who were affected by the rockfall, while the other initial number of beneficiaries are from barangay Cantao-an, Mayana, Lanas, Naalad, Tangke, Cogon and Lutac. Naga City Mayor Valdemar Chiong said the housing program was conceptualized last year but has faced several challenges, including delays and higher prices of construction materials amid the fuel crisis. “Daghang [Major] challenges because this was conceptualized na last year pa,” Chiong said, noting that the original allocation is no longer sufficient to cover the increasing cost of construction. The city initially allocated P28 million in 2025 for 160 housing units, with a budget of P160,000 per unit. Due to the increase in material prices, the city is raising the allocation to P200,000 per house this year.

THE initial batch of 56 beneficiaries of the Naga city government’s low-cost housing program sign the occupancy agreement during the program’s launch on Wednesday. The agreement stipulates that beneficiaries may pass on their free houses to their children but they are not allowed to sell or rent it out. CARMEL PEDROZA

About P20 million has been set aside for the construction of another 100 houses under this year’s allocation. Chiong said 77 housing units are currently under construction, while the city is also taking measures to help reduce construction expenses. The local government has asked suppliers to deliver aggregates and other

construction materials to City Hall, allowing the city to handle their delivery to project sites. “We asked them to deliver the aggregates here at City Hall, and we will be the ones to deliver them to the project sites,” Chiong said. The project, which is a city-led initiative that aims to address woes on housing

backlogs, will provide 20-square-meter houses free of charge to qualified beneficiaries. It is intended for families living in damaged, overcrowded or substandard homes, including those whose roofs, walls and other portions of their houses have deteriorated. See “Rockfall,” A6

Envoys&Expats BusinessMirror

envoys.expats.bm@gmail.com | Thursday, August 20, 2026 C1

The diplomacy of transition

As Consul General Senen T. Mangalile prepares to leave New York, the Philippine consulate’s first Media Hour of the year becomes an account of what passes to his successor: not merely an office, but a set of obligations, relationships, and expectations that do not end with one diplomat’s departure

By Troi Santos

HE air-conditioning was failing at the Philippine Center in Manhattan, and I could feel why Consul General Senen T. Mangalile began with an apology. The room selected for the Philippine Consulate General’s Media Hour had some cool air; elsewhere in the building, the heat was harder to ignore. Mangalile explained that the building was about a century old and that its cooling system had become so outdated that replacement parts had to be fabricated. Coffee was set aside for cold refreshments. It was an unglamorous way to begin a diplomatic briefing, but it made the afternoon’s subject clearer: this would be less about protocol than about the uncelebrated work of keeping things going. I came expecting a routine catchup among consular officials and Filipino-American media. The briefing gradually took on the shape of a farewell. The consul general, after three

years and seven months in his post, said he would leave New York on September 1 for an assignment in Cambodia. He identified Maria Elena Cristina D. Maningat as his successor and said Consul Juan Carlos C. Borromeo would serve as temporary head of post during the transition. Such announcements can sound procedural. In practice, they are not. A consulate is not simply a rotating desk of diplomats—it is an institution built out of repeated contact: with community leaders, business groups, teachers and students, local officials, tourists and dual citizens, and people who only discover the consulate when something has gone wrong. Around him that afternoon sat the officials who make the post function beyond its formal title. There was Trade Commissioner Alma F.

Argayoso of the Philippine Trade & Investment Center-New York, who had just come from a business mission to Manila. Consul Anna Marie Mae R. Guerra, who oversees cultural and community relations and manages Sentro Rizal New York, was also present. There were Maria Corazon Jorda Apo of the Department of TourismNew York; Vice Consul Peter John V. de la Fuente, who handles assistanceto-nationals work and other consular functions; and Borromeo, the consulate’s public-diplomacy officer who is also set to take the helm on an interim basis. Taken together, they gave me a clearer picture of what a consulate in New York now is. It still processes passports and documents, of course. But it also promotes exports, recruits visitors, hosts exhibits, supports history and cultural programs, fields emergencies, and tries to keep the Filipino presence in the city visible in both official and ordinary ways.

Institution-building

MANGALILE’S review of the year leaned toward institution-building rather than headline-chasing. He described the consulate’s participation in the Pennsylvania Farm Show and

related engagements, where officials worked to strengthen links around agriculture and education. During that trip, he also visited the University of Pittsburgh, encouraged discussion of a Philippine Studies initiative, and saw the Philippine Nationality Room at the university’s Cathedral of Learning. He also described work with Rowan University and several higher-learning institutions: the University of the Philippines System, De La Salle University, Ateneo de Manila University, University of Santo Tomas, and Cebu Institute of Technology-University, on possible collaboration in medical engineering, research, and One Health. That phrase can sound like conference language until someone explains it: human health, animal health, and environmental health treated as interconnected. These are not the most glamorous parts of diplomacy. They do not produce the kind of images governments like to circulate. But they often last longer than ceremonies do: A visiting official leaves. A memorandum is forgotten. A university tie-up or a field of study can remain. The same could be said of the consulate’s cultural work. Guerra discussed Sentro Rizal New York and the

consulate’s efforts to make the space more useful to students and researchers. The refurbishment was small, but practical: a little more room, a little more usability, and a stronger case that the place might serve as something other than a decorative annex. The programming was broad: “The Voices of Malolos, Visions of Today,” built around the women of Malolos and contemporary Filipinas in literature, law, finance, art, and mental wellness. The event included commemorations of José Rizal and Araw ng Kagitingan (Day of Valor). There were exhibits. “Eight Decades of Harmony,” a collaboration among the Philippine Consulate General, New York City Opera, and the Manhattan School of Music, moved from European works to Broadway to kundiman, with performers wearing T’boli and Maguindanaon textiles. What emerged from that list was not a single message so much as a habit of presentation. The consulate was not selling Philippine culture as a museum piece: It was presenting it as something lived, hybrid, regional, and portable—capable of showing up in a concert hall, a classroom, a panel discussion, or a food event without losing itself. That matters in a city where

younger Filipino Americans may know the Philippines in fragments: a grandmother’s story, a family recipe, a surname, a vacation, a halfremembered song, a language partly understood and partly lost. Programs such as Paaralan sa Konsulado, now in its 28th edition, try to make those fragments cohere a little. This year’s sessions, held across four Saturdays in July and August, introduced young Filipino Americans to Rizal, history, and ideas of Filipino identity. That is slow work. It is also—for any diaspora institution—necessary work.

Business matters

THE afternoon shifted when Argayoso took over. Her report on the recent business mission of the United States to the Philippines was full of numbers, sectors, and acronyms, but she delivered it with enough caution that the pitch never became triumphalist. The mission, held from July 6 to 10 with support from Philippine posts in New York, Chicago, and Washington, brought 29 business leaders and investors in Manila, Clark, and Subic to explore opportunities in manufacturing, logistics, digital technology, tourism, real estate, and related sectors. Continued on C2

Envoys&

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C2 Thursday, August 20, 2026

Takk for nå: Norway’s envoy bids PHL farewell—for now By Rizal Raoul S. Reyes

ARKING the end of his diplomatic tenure, Norway’s former ambassador to the Philippines Christian Halaas Lyster released an affectionate farewell statement underscoring the deep ties forged during his term. Lyster described his tour of duty in the country as “the highlight of my career so far.” He also expressed profound gratitude for the warmth and hospitality shown to him, his wife, and his daughter by the Filipinos. The diplomat emphasized the robust maritime partnership of the seafaring nations. He reiterated Norway’s commitment to supporting local maritime workers. Beyond the maritime domain, the ambassador pointed to growing economic ties bolstered by the European Free Trade Association’s Free Trade Agreement. He noted an increasing interest from Norwegian firms in key local sectors, including renewable energy, seafood, and agriculture, alongside active development cooperation in climate resilience, ocean management, and the circular economy. Lyster also underscored Norway’s vital role as a third-party facilitator in the Philippine peace process. He pointed to the historic 2023 Oslo agreement signed between the Philippine government and the National Democratic Front, as well as Norway’s ongoing peace-consolidation efforts in the Bangsamoro region, including decommissioning and community resilience programs. He said Norway and the Philippines found common ground between the two cultures, drawing parallels between the Filipino spirit of bayanihan and the Norwegian concept of dugnad—both centered around collective, communal work. He credited this shared ethos and the Nordic diplomatic approach of trust, dialogue, and inclusivity for strengthening bonds across government, business, civil society, and local communities.

Keepsakes from the Philippines By Christian Halaas Lyster

from all walks of life: government and business leaders, civil society, local communities, and the youth, among others. One cannot mistake how the bayanihan spirit is ingrained in everything they do, which reminds me of a similar concept in Norway: dugnad. It refers to collective or communal work. Through openness, mutual respect, and a willingness to listen, we have built networks of trust that have strengthened cooperation between our countries and created new opportunities for meaningful collaboration.

Former Norwegian ambassador to the Philippines

HAT began as a professional duty has become a chapter of my life that I will always cherish.

Coming from the land of icy fjords, crisp Arctic air, and Northern Lights, I readily embraced the warmth of the Philippine climate and its people. Apart from adjusting to the temperature, it was easy to feel at home [in Manila]. My wife, daughter, and I were met with smiles and enduring hospitality from Filipinos at every turn. Our partners—many of whom turned dear friends—made the work meaningful and worth accomplishing. In the first month of my diplomatic assignment, the Norwegian tall ship Statsraad Lehmkuhl docked at the Port of Manila. In many ways, I shared a similar journey with the vessel, representing our nations’ strong maritime ties. My grandfather was a sailor, and growing up, I heard stories of life at sea, of resilience, and sacrifice. Perhaps that is why this partnership is so close to my heart. The maritime sector remains central to Norwegian-Philippine ties.

With one of the biggest and most technologically advanced fleets in the world manned by more than 25,000 competent Filipino seafarers, together we are driving prosperity across the globe via trade. Our ships and Filipino seafarers are the cogs and gears that drive the machinery of the global economy, keeping it operating and thriving. As a trusted maritime partner, we’ve supported Filipinos through world-class training, capacity building, and scholarship programs conducted by the Norwegian Training Center in Manila. Looking ahead, we aim to continue expanding this partnership to help shape a greener, safer, and more sustainable maritime future.

Ties that bind

BEYOND cooperation at sea, our economic partnership continues to grow. The European Free Trade

Friend of Filipinos LYSTER with NTC cadets

Agreement facilitates trade between our two countries. During my time in the Philippines, I have experienced Norwegian businesses’ deepening interest in sectors such as renewable energy, seafood, and agriculture. At the same time, Norway’s development cooperation across the archipelago perseveres, supporting initiatives in climate action, disaster preparedness, ocean management, circular economy, and peacebuilding. In 2023, the Philippine government and the National Democratic Front signed an agreement in Oslo outlining a shared vision for peace and a pathway toward resolving a conflict that has endured for more than five

decades. By promoting dialogue and trust-building approaches to peacebuilding, Norway has helped Filipinoled efforts toward reconciliation and lasting peace. This is evident in our work of consolidating peace and stability in Bangsamoro by decommissioning, promoting livelihoods, and supporting community resilience. I am truly proud of Norway’s long-term dedication to peace and reconciliation in the Philippines. In all these endeavors, the Nordic approach to diplomacy guided our engagement with the Philippines, which is rooted in dialogue, trust, and inclusivity. One of the greatest pleasures of serving in the Philippines has been the opportunity to engage with people

BECOMING Norway’s ambassador to the Philippines and Palau has been the highlight of my career so far. Thank you very much to every one of you. These are the pasalubongs I will carry with me: memories of the Philippines and Filipinos, the shared achievements of partnership, lessons in peacebuilding, and a rich network of friends I am fortunate to have met along the way. While my tenure as Norway’s envoy to the Philippines is ending, I will continue being a friend of the Philippines and Filipinos all over the world. I am certain I will find my way back here someday, but until then, I have these pasalubongs to inspire the stories I will share wherever life takes me next. Maraming, maraming salamat sa inyong lahat!

Celebrating ube: A taste of Filipino heritage in Norway

HE Philippine Embassy in Norway took part in the inaugural “Ube Festival” in Oslo, which aimed to showcase purple yam or ube and the rich Filipino culture, heritage, and identity on August 8 at the Skippersuppa at the heart of the Norwegian capital. In his remarks, Ambassador Enrico T. Fos highlighted that ube is uniquely Filipino, having

AMBASSADOR Enrico T. Fos

been part of Filipino family traditions, celebrations, and shared memories for generations—long before its international rise in popularity. Fos added that celebrating ube also means honoring the farmers, communities, and institutions whose knowledge, creativity, and traditions have made it an important part of Filipino culinary heritage.

The event also gave Norwegian and international guests a chance to discover not only the distinct taste of ube, but also the Filipino culture’s warmth and richness. First of its kind in the Nordic country, it featured a culinary competition, games, a cultural program, and booths selling ube products and other Filipino delicacies.

The diplomacy of transition Continued from C1

Based on post-mission survey responses, she said, the delegation had identified potential opportunities ranging from roughly $37 million to $64 million. But she repeatedly emphasized that most of those conversations were still preliminary. Some had advanced to active negotiations and due diligence; many had not. That distinction was worth preserving. The most ambitious topic was the proposed 1,600-hectare artificial intelligence-native industrial hub associated with Pax Silica in New Clark City. Officials described plans involving semiconductors, AI, advanced manufacturing, logistics, and research. Then the questioning began. The presentation was polished. But once the slides gave way to questions, the room changed. Journalists asked about electricity demand, water supply, environmental impact, community displacement, and whether any binding framework agreement with the US had actually been signed. Argayoso’s answers were careful: No, the agreements were not yet final. Yes, assessments still had to be done. Yes, planning was ongoing. It was one of the more useful stretches of the afternoon because the discussion moved out of presentation mode and into the much less comfortable territory of consequences. A major project always sounds cleanest in summary. On the ground, it means land, power, roads, water, regulation, and people. Someone asked whether a futuristic industrial corridor would raise electric costs somewhere else. Another question focused on whether a

rainwater system would be enough. Queries also came up about farmers, relocation, and the difference between a plan and a promise. These were not hostile questions—they were the basic civic questions such projects invite. Argayoso was also drawn into a discussion of ube, which initially sounded like an aside and then turned into something more revealing. Her office, she said, is helping seek market intelligence for a Philippine effort to better understand ube supply, demand, and the recurring claim of a shortage. The larger point was that ube’s popularity in the US has outpaced clear knowledge of where supply comes from and who is benefiting. That problem sits at the intersection of trade and culture: If Filipino flavors become fashionable, but raw ingredients are sourced elsewhere and still marketed under the glow of Filipino identity, then popularity alone amounts to little. The ingredient travels; the value may not.

Tourism gain

JORDA APO’S tourism presentation came with a different kind of data point. The US, she said, has overtaken South Korea as the Philippines’ top source market for visitors, and arrivals could reach 1.2 million this year—up from 1.1 million in 2025. She framed that as a major gain, and plainly it is. But she also acknowledged, directly and indirectly, what those figures contain: not just tourists in the narrow sense, but former Filipinos and Filipino Americans traveling for family, memory, obligation, and return. That distinction matters. A trip to

the Philippines from the US is often not just a vacation. It may be a reunion, an introduction, a duty trip, a balikbayan journey, or the kind of visit that forces second- and third-generation families to decide what the homeland means once it is no longer the place they themselves left. The Tourism official also spoke about flights. Philippine Airlines’ nonstop New York-Manila service, she said, would increase from three times weekly to four beginning December 2, while the Chicago-Manila service would return on November 9. She also spoke enthusiastically about route competition, partner carriers, and the hope that more options would eventually help ease fares and improve access. The reporters, to their credit, kept dragging the discussion back to how travel actually feels. What about expensive domestic tickets inside the Philippines? What about routes where travelers have no real choice except the Philippine flag carrier? What happens when a third-party platform sells an itinerary, a connection fails, and the airline tells the customer to go back to the booking site? These were not side complaints— they were reminders that tourism policy meets people in the fine print.

‘A post already in motion’

THE atmosphere shifted again when the conversation turned to assistance to nationals. I listened as Mangalile discussed a Filipino national detained in Elizabeth, New Jersey after a traffic-related arrest. The consulate, he said, had been informed on a Sunday and visited the man the following day, then again later. The consul general could only

CONSUL GENERAL Senen T. Mangalile (third from right), with Vice Consul Peter John V. De La Fuente (from left), Consul Juan Carlos C. Borromeo, Trade Commissioner Alma Argayoso, Tourism Attaché Maria Corazon Jorda Apo, and Consul Anna Marie Mae R. Guerra TROI SANTOS

disclose little. The detainee had legal counsel and had asked for privacy. He said the man was in good spirits, had access to medication, and was receiving other basic needs. Details were restrained, as they had to be. Still, they made the consular mandate feel less theoretical: a citizen in detention, family members waiting for information, and an office trying to be useful within limits it cannot control. Mangalile also mentioned two cases in which the consulate helped Filipinos return to the Philippines, including one of a woman in an abusive relationship and another involving a tourist who could no longer afford a ticket home. In those cases, he said, the consulate worked with the Department of Foreign Affairs, other government agencies, and nonprofit groups to arrange flights and safe return. Those examples landed with more force than some of the day’s larger claims. They usually do. Grand strategy is abstract; a plane ticket home is not. Near the end, the official program loosened. There were jokes about the many ways the consul general’s surname had been misspelled or mispronounced. They talked about Cambo-

dia, winter, and what he might miss. Asked what he hoped to do before leaving New York, he gave an answer that was almost comically ordinary: he hoped to watch the US Open before departing for Cambodia. I found that answer more revealing than any closing statement could have been. Public service in New York can be strangely narrow even when it looks expansive from the outside. One attends events, delivers remarks, returns calls, signs documents, travels to outreach programs, handles emergencies, and keeps moving. The city becomes a workplace first and a city second. Which brings the story back to Maningat. She will arrive not to a blank slate, but to a post already in motion, with routines, expectations, unresolved cases, recurring programs, and a community that measures the consulate less by rhetoric than by responsiveness. Mangalile identified her as his successor. She brings a career in diplomacy and multilateral work to a city where every official office eventually becomes a balancing act among governments, institutions, constituencies, and personalities. The setting matters too. The Philippine Center at 556 Fifth Avenue, ac-

quired by the national government in 1973, is not just office space: It is one of the more visible anchors of official Philippine presence in New York: a building where trade, tourism, culture, diplomacy, and consular services are all forced into close proximity, along with the recurring headaches of an old structure that always seems to need one more repair. When the Media Hour ended, the larger transition was still abstract. Maningat had not yet arrived. ConGen Mangalile still had weeks left in New York. Borromeo was preparing to bridge the gap. But the succession was already visible in smaller things: unfinished trade discussions, cultural programs on the calendar, cases under review, and questions from reporters that would not disappear with a change in title. Mangalile leaves for Cambodia. Maningat comes in. Borromeo bridges the gap. The building still needs aircon parts fabricated. The phones will still ring. And for the people who walk through those doors—needing a passport, an answer, a document, an intervention, a reminder that someone on behalf of the Philippine state is paying attention—that continuity is the story.

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PHL bolsters bilateral bonds with PHL-Indonesia partnership anchored on shared seas, expanding interests Chile as both mark 80 years of ties A

HE Philippines has renewed its commitment to strengthening bilateral ties with Chile as the two Pacific nations mark 80 years of diplomatic relations in 2026.

SECRETARY Ma. Theresa P. Lazaro and President José Antonio Kast Rist of Chile OFFICE OF THE PRESIDENT OF CHILE/DFA

Philippines and Italy sign landmark driver’s license conversion protocol

AMBASSADOR Neal Imperial and Director General Nicoletta Bombardiere PHILIPPINE EMBASSY-ITALY

By Malou Talosig-Bartolome

FTER eight years of bilateral negotiations, the Philippines and Italy have officially signed an updated driver’s license conversion protocol that eases requirements for their nationals to operate vehicles in each other’s country. According to the Philippine Embassy in Rome, the updated agreement applies to Philippine driver's license models issued between 2017 and 2023. Filipinos who have resided in Italy for less than six years may automatically convert their valid driver’s license to an Italian equivalent without taking theoretical or practical driving examinations. Automatic conversion for Filipino immigrants or workers who have lived in the country for more than six years does not apply. They can convert their driver's license only after passing a practical driving test to verify their technical fitness under Italian legislation. They will have six months from the date the agreement takes into effect to apply for the conversion. “After this 180-day window closes, the standard six-year rule applies with no exception,” the embassy said in its advisory. The Philippines’ ambassador to Rome Neal Imperial and the Italian Foreign Ministry and International Cooperation director general for Sub-Saharan Africa, Latin America, Asia and Oceania Nicoletta Bombardiere signed the new protocol. The protocol amends the core framework originally established under the 2006 memorandum of understanding on the Automatic Exchange of Driver’s Licenses, which “remains valid and in force.” However, the Italian side paused automatic conversion pending the signing and entry into force of the protocol, as there were drivers’ license models from both sides and certain provisions that "needed to be reflected and updated in the agreement." Once both nations complete internal procedures and ratifications, the protocol will officially enter into force 60 days after mutual notification through diplomatic notes. “This conversion protocol will benefit an estimated 2,000 Filipino drivers in Italy, especially those who depend on driving for their livelihood and those who drive across European Union borders,” Imperial confirmed. The Filipino community is one of Italy's largest migrant communities. Technical discussions between the Philippine Embassy and Italy's Ministry of Infrastructure and Transport remain ongoing to expand coverage to license models issued from 2024 onward, the ambassador added.

This developed as Secretary of Foreign Affairs (SFA) Ma. Theresa P. Lazaro paid a courtesy call on President José Antonio Kast Rist of Chile at the Palacio de La Moneda in Santiago. Lazaro conveyed President Ferdinand R. Marcos Jr.’s greetings to Kast, who assumed office as Chile’s chief executive in March 2026. The secretary also invited Kast to visit the Philippines. The call covered topics of mutual interest, including the recent conclusion of negotiations for the bilateral Comprehensive Economic Partnership Agreement—the Philippines’ first free trade agreement in Latin America. Both officials share the view that the CEPA holds immense promise in bringing the two APEC economies even closer. They also discussed bilateral cooperation in the economic and maritime sectors, as well as people-to-people exchanges during the call. On expanding relations with Chile, the SFA commented that “the Pacific Ocean does not separate us; [but rather] links our destinies.” The secretary was in Santiago for an official visit, which also included a bilateral meeting with Minister of Foreign Affairs Francisco Pérez Mackenna. Diplomatic relations between the Philippines and Chile were established on July 4, 1946. Some 1,017 make up the Filipino community in Chile by the end of 2025.

S it marked 81 years of independence on August 17, Indonesia’s relationship with the Philippines stands as one of Asean’s more established and multifaceted partnerships. Both countries are not only immediate maritime neighbors but also fellow founding members of the bloc,withintereststhatincreasinglyconvergeinsecurity, trade, energy, food security and regional connectivity. More than seven decades after establishing diplomatic ties, the relationship has acquired a practical dimension that goes well beyond traditional political and cultural exchanges. ThetwocountriesformallyestablishedmutualrelationsonNovember24,1949,andsignedaTreatyofFriendship in 1951. The relationship has since evolved through successive mechanisms for political consultation, as well as economic and security linkages, culminating in what their governments describe as a “Strategic Partnership.” Geography remains one of the most important drivers of the relationship. The Philippines and Indonesia share maritime boundaries in the Sulu and Celebes seas,makingcooperationatseaamatterofbothnational security and economic necessity. The waters separating the two have long been vulnerable to smuggling, illegal fishing, trafficking and other transnational crimes, but they are also vital routes connecting communities and economies in the southern Philippines and eastern Indonesia. This has made maritime cooperation one of the most durable pillars of bilateral ties. That cooperation received fresh impetus this year when the two countries held the eighth meeting of their Joint Commission for Bilateral Cooperation in Jakarta on April 23. Secretary of Foreign Affairs Ma. Theresa Lazaro and Indonesian Foreign Minister Sugiono agreed to pursue more practical cooperation in border management, maritimesecurity,trade,investment,energyandconsular concerns. The meeting also underscored the importance ofbilateralcoordinationasthePhilippinesassumedAsean chairship for 2026. Security cooperation is particularly visible along the countries’ shared maritime frontier. In March, Philippine

and Indonesian naval and coast guard units conducted another round of the Coordinated Patrol PhilippinesIndonesia, or CORPAT PHILINDO, designed to improve interoperability, maritime surveillance and the prevention of illegal activities. The continuing patrols are significant not only because they protect the countries’ respective borders but also because they demonstrate how neighboring states can address common security concerns through routine cooperation. Defense ties are also becoming more operational. The Armed Forces of the Philippines and the Indonesian military have agreed to explore greater logistics coordination, while enhancing joint operations and coordinated patrols in the Sulu and Celebes seas. The creation of a logistics subcommittee under their military cooperation mechanism points to a relationship moving beyondexercisesandpersonnelexchangestowardmore practical capabilities. The economic relationship, meanwhile, has considerableroomforexpansion.IndonesiawasthePhilippines’ largestsourceofimportsamongAseanmembersin2025, with imports from the former reaching $10.18 billion, or 28.8 percent of total imports from the regional bloc. The figures underline Indonesia’s importance as a supplier of fuel, transport equipment, food and other goods, even as the Philippines continues to seek greater access for its own exports to the Indonesian market. A most promising development was President PrabowoSubianto’svisittoCebuforthe48thAseanSummit in May. Business groups announced the creation of an “Indo-Phil nickel corridor,” supported by cooperation on data sharing, policy and regulatory dialogue, investment and the development of environmental, social and governance standards. The initiative is particularly significant as the two countries accounted for an estimated 73.6 percent of global nickel mine production in 2025. The nickel initiative was part of a broader economic agenda. The two sides also reached agreements on food security, agricultural technology, renewable energy, financing and aviation, while Indonesia agreed to supply more fertilizer to help Philippine agriculture.

Energyisanotherimportantarea:Indonesiaremains a major supplier of coal to the Philippines, but the latest discussions also point toward cooperation in renewable energy, including potential hydropower and solar projects. The challenge now is to turn these agreements into investments, jobs and industries that create value in both countries rather than simply increasing the movement of commodities. This is where connectivity becomes crucial. The Philippines and Indonesia are both members of the Brunei Darussalam-Indonesia-Malaysia-Philippines East Asean Growth Area, or BIMP-EAGA, which seeks to integrate economies in the less-developed and geographically distant parts of the four countries. At the May summit in Cebu, President Ferdinand R. Marcos Jr. and Prabowoemphasizedconnectivity,energysecurity,food security and investment as priorities for the subregion. The latter separately urged the Philippines to accelerate physical and energy interconnection with its Southeast Asian neighbors. The emphasis on ports and connectivity also naturallyconnectsthebilateralrelationshiptothePhilippines’ broader logistics ambitions. Modern ports like the International Container Terminal Services Inc. serve as links in supplychainsthatconnectbusinesses,communitiesand marketsacrossborders.ForthePhilippinesandIndonesia, improving maritime connectivity could support trade in minerals,agriculturalproductsandmanufacturedgoods whilestrengtheningtheeconomicintegrationenvisioned under BIMP-EAGA and Asean. Ultimately, the strength of Philippine-Indonesian relations lies in their breadth and practicality. The two countries share geography, economic priorities, and regional objectives to sustain their cooperation. As Indonesia celebrates its independence, the Philippines has good reason to view the occasion not simply as a national celebration next door, but as a chance to reaffirm a partnershipbuiltover77years—onethatisincreasingly defined by secure seas, stronger supply chains, greater connectivity and a shared stake in a stable and prosperous Southeast Asia.

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Ambassador wants Cagayan de Oro as catalyst for Australian investments in PHL

MBASSADOR Marc InnesBrown recently visited Cagayan de Oro City and Misamis Oriental as part of Australia’s ongoing efforts to pursue trade and investment opportunities across the Philippines.

Innes-Brown delivered a keynote speech at the Cagayan de Oro Investment Forum and Mayor’s Night, then attended the 35th Mindanao Business Conference at the Limketkai commercial complex. In his remarks, the ambassador

highlighted Australia’s commitment to increasing trade and investments with the Philippines, including Mindanao, as he said that “more than 240 Australian [firms now operate in the Philippines, employing over 68,000 people. They are investing for

AMBASSADOR Marc Innes-Brown and Governor Juliette Uy

the long term because they believe in this country’s future.” “Under ‘Invested: Australia’s Southeast Asia Economic Strategy to 2040,’ we see enormous opportunities in clean energy, critical minerals, agriculture, digital technologies, infrastructure, education and advanced manufacturing,” he noted. “We see these opportunities not only in Metro Manila, but right here in Mindanao where our partnership is already delivering tangible results. Innes-Brown stated that “Australian investment supported the development of the Tantangan Solar Power Plant in South Cotabato— one of Mindanao’s most significant renewable energy projects, which will deliver clean energy to over 82,000 households.”

He also paid a courtesy call to Governor Juliette Uy of Misamis Oriental. Both discussed the bilateral ties and Australia’s longstanding support for Mindanao. “As we celebrate 80 years of Australia-Philippines diplomatic relations, our partnership has never been stronger. For more than three decades, we have worked alongside governments, communities and the private sector to support peace, stability and development, including through the peace process that [has] led to the establishment of the Bangsamoro Autonomous Region in Muslim Mindanao,” the ambassador said in his remarks. “These partnerships reflect Australia’s commitment to a Mindanao that is peaceful, prosperous, resilient and inclusive.”

Kitchen diplomacy: Twirling pasta, tackling trade deals with EU’s envoy Malaysia and Philippines

S a diplomatic correspondent, my usual stomping grounds are stiff summit rooms and formal press briefings. But part of the job also means diplomatic receptions, which usually come with food. Each embassy likes to show off its own culinary pride. A few months ago, BusinessMirror publisher T. Anthony C. Cabangon had an epiphany of sorts: Why not do a podcast for Envoys&Expats—something in the same spirit as Freshly Brewed? Editor Mike Policarpio and I thought, why not turn it into a cooking show, with diplomats and resident expats as our guests? So, for the pilot episode of Freshly Brewed’s Kitchen Quest, we decided to shake things up. The idea was simple: get envoys out of their element and into the kitchen to see if we could cook up some real intercultural dialogue. Our brave first guest was Ambassador of the European Union to the Philippines Massimo Santoro, who met me and Chef Conrad Nuñez at Blanca Pizzeria in White Plains, Quezon City. The mission: to whip up an authentic Italian spaghetti al pomodoro while untangling the complexities of EU-Philippine relations. The idea may be simple, but the execution was difficult. We are men and women of letters, not visuals. I had my share of television experience, but it was all in the planning stages, never in production. Despite two pre-production meetings, Murphy’s Law took over. Our cameras overheated, our audio crackled, and then the habagat rains poured down. Good thing that Ambassador Santoro was a good sport

about it, staying longer than expected and powering through two takes of cooking. He brought his own ingredients, even a tomato masher and grinder of sorts. That’s when I realized I had to unlearn the Filipino style of cooking. I quickly learned that when an Italian ambassador takes over the stove, you play by his rules.

Getting it right

THE ambassador grew up spending his Sunday mornings in the kitchen with his mother and grandmother, and he brought that strict Italian culinary heritage straight to our counter. He immediately laid down the law: no hotdogs, definitely no condensed milk, and absolutely no banana ketchup. A true pomodoro relies on the quality of a few basic ingredients like extra virgin olive oil, garlic, fresh tomatoes, and basil. I also committed a near-fatal error by suggesting we break the spaghetti before dropping it in the pot. The envoy explained that breaking pasta is a culinary “capital sin:” Every strand has to go in whole. When it came to enjoying the dish? Twirl it with a fork. No knives. And if you ever find yourself in Italy, do not even think about using a spoon.

Recipes for results

DESPITE arriving right in the middle of a typhoon in September 2024, Santoro has completely thrown himself into Philippine life. He shared that he has undergone two-hour Tagalog lessons every Monday and has traveled extensively across the archipelago. In fact, the EU is a major devel-

opment partner in the Bangsamoro Region, heavily supporting local agriculture, fisheries, and the peace process. But before anyone asks him for a favor, he quickly cleared up a common misconception: he cannot issue a Schengen visa. The EU Delegation doesn’t actually have a visa section; that power belongs exclusively to the individual embassies of the bloc’s 27 member states. Still, he noted that EU programs like Erasmus scholarships do help Filipino students secure visas for European studies and internships. By the time we tossed our perfectly al dente pasta into the pan, adding just a dash of freshly ground pepper, the parallels between the kitchen and the negotiating table were hard to miss. Just like waiting for the tomatoes to break down and coat the spaghetti, getting 27 European nations to reach a consensus requires an incredible amount of tiyaga (patience), said Santoro. But as we sat down to partake in the classic-style Italian spaghetti, which, for me, was perfetto. Honestly, I’m not sure if my sweetspaghetti-obsessed daughter would agree. But it was clear that the simplest ingredients really do yield the best results, especially when borders are open to sharing them.

WHILE we waited for the garlic to turn a perfect golden brown, I steered the conversation toward a different kind of recipe: the ongoing free trade agreement (FTA) negotiations between the Philippines and the EU. It turns out simmering a good

Inc., will be used exclusively for civilian purposes and provide backup electricity to socially important facilities, while supporting communities affected by Russia’s attacks on Ukraine’s energy infrastructure. The equipment was transported from the Philippines to the Port of Gdansk in Poland, then subsequently delivered to Ukraine through the “rescEU Donations Scheme”

fortify digital partnership

HE Embassy of Malaysia hosted an investment briefing for the Malaysia Digital Economy Corporation (MDEC), in conjunction with DEX Connex 2026. The event brought together senior representatives from the Bases Conversion and Development Authority (BCDA), Malaysian technology companies, government agencies, and industry stakeholders to explore strategic investment opportunities in the Philippines’ rapidly growing digital economy. The program highlighted the investment potential of the Luzon Economic Corridor (LEC) and BCDA’s flagship economic zones, particularly Clark and New Clark City, while showcasing opportunities for Malaysian technology companies to establish a long-term presence in the Philippines through innovation, digital transformation, and strategic partnerships. It also featured BCDA and BDB Law’s presentations on the Philippine investment landscape, available fiscal incentives and business establishment opportunities, followed by a networking session and a memorandum of understanding (MOU) signing ceremony between Safe Truck and IoT Philippines. Ambassador Dato’ Abdul Malik Melvin Castelino Anthony and Executive Vice President Atty. Gisela Z. Kalalo of BCDA underscored both countries’ shared commitment to deepen cooperation in digital innovation and investment. In her remarks, Attorney Kalalo welcomed the Malaysian delegation and reaffirmed BCDA’s commitment to fostering partnerships with innovative Malaysian companies seeking to establish a presence in the Philippines.

Opportunities unprecedented

Deals, dining, diplomacy

Ukraine gets generators from Phil. business group N August 12, Ukraine’s Ministry of Energy received 40 portable power generators, each with a capacity of 6 kilowatts, donated by a Philippine private business group. The humanitarian initiative was launched after a meeting between Ambassador Yuliia Fediv of Ukraine and Senator Erwin Tulfo. The generators, supplied by Highball Traders

sauce isn’t so different from forging an international trade deal. The ambassador explained that the FTA is essentially a massive framework meant to connect our 100 million Filipinos with the EU’s 500 million consumers across its 27 member states. If it goes through, it means zero tariffs on goods and services, which translates to lower prices at the checkout counter and a huge boost in local jobs. For our farmers, it could finally mean Philippine mangoes on European grocery shelves. He also highlighted an entire digital chapter within the agreement designed to link our robust business process outsourcing and startup sectors with European firms, alongside strict sustainability rules that ensure agricultural waste is recycled and indigenous rights are protected.

THE columnist and Ambassador Massimo Santoro prepare authentic Italian pasta while they engage in a flavorful conversation on the Philippines-European Union’s bilateral ties. Watch the premier episode of Kitchen Quest on BusinessMirror’s Facebook account and YouTube channel: @BusinessMirror.

of the EU Civil Protection Mechanism, with the support of Poland’s Governmental Strategic Reserves Agency. The Embassy of Ukraine expressed its sincere gratitude to Tulfo, Highball Traders Inc., Philippine Transmarine Carriers Inc., KLN Logistics, the Delegation of the European Union to the Philippines, the Embassy of Poland in the Philippines, RARS, and everyone who helped make the delivery possible.

According to the Ukrainian Embassy, the assistance is “much more than 40 generators; it is a tangible expression of the solidarity of the people of the Philippines with the people of Ukraine.” The embassy said: “As Russia continues its deliberate attacks on Ukraine’s energy infrastructure, this support will help strengthen the energy resilience of Ukrainian civilian communities and ensure the continuity of essential services.”

IN his keynote, Abdul Malik emphasized that the digital economy has become one of the defining pillars of Asean’s future growth and competitiveness, then presented unprecedented opportunities for Malaysia and the Philippines to strengthen collaboration in emerging technologies, innovation and digital investment. “Malaysia does not view the Philippines simply as another export market. We see the Philippines as a strategic partner in building Asean’s digital future,” he pointed out. “By combining Malaysia’s technological capabilities with the Philippines’ dynamic market, highly skilled workforce and ambitious digital transformation agenda, we can create partnerships that generate lasting economic value, strengthen regional competitiveness and contribute towards a more resilient and digitally connected Asean.” The ambassador noted that the Philippines has emerged as one of

Southeast Asia’s most promising digital economies, driven by a young, digitally connected population, a globally competitive English-speaking workforce, and strong government support for digitalization. He also highlighted that initiatives such as the Luzon Economic Corridor represent a new generation of economic development that integrates worldclass logistics, smart infrastructure, innovation districts and digital connectivity, creating attractive platforms for technology-driven investments.

Trade partners

MALAYSIA and the Philippines continue to enjoy strong and expanding economic relations. In 2025, total bilateral trade reached approximately $8.32 billion, reaffirming the two countries’ roles as important regional trading partners. As both pursue digital transformation and innovation-led growth, technology and digital services are expected to become increasingly important drivers of bilateral economic cooperation. The Malaysian delegation, led by MDEC, consists of leading technology companies: IDmeta Sdn. Bhd., WAHDAH Technologies Sdn. Bhd., Snappymob Sdn. Bhd., Theta Service Partner Sdn. Bhd., Eco Community Sdn. Bhd. and Safe Truck. They represent a diverse range of expertise, including digital identity, software engineering, cybersecurity, enterprise digitalization, smart mobility, sustainability technologies, and digital platforms, reflecting Malaysia’s growing capabilities as one of Asean’s leading digital economies, the Embassy of Malaysia said. The embassy remains committed to supporting the internationalization of Malaysian companies and strengthening economic diplomacy with the Philippines. Through close collaboration with MDEC, Malaysia External Trade Development Corporation or MATRADE, and Philippine partners, the embassy will continue to facilitate business engagements that contribute to deeper bilateral economic ties, increased digital investment, and enhanced linkages in emerging technology sectors. The engagement marked another important milestone in strengthening Malaysia-Philippines economic relations, reinforcing both countries’ shared aspiration to build a more innovative, digitally connected, and resilient ASEAN. By fostering closer collaboration between governments, industry and technology innovators, the initiative is expected to create new opportunities for investment, knowledge exchange and sustainable economic growth in both countries.