See “Pasa,” A2
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Thursday, August 28, 2025 Vol. 20 No. 319
P25.00 nationwide | 4 sections 28 pages | 7 DAYS A WEEK
By Andrea E. San Juan @andreasanjuan
HE government will not yet earmark a budget and roll out measures for industries that may be affected by the tariffs imposed by Washington as negotiations are still ongoing, according to Trade and Industry Secretary Cristina A. Roque. “No, we don’t have that budget for the industries. But what we have is we’ll be able to do major B2B, major trade missions for
them to sell in other countries all over the world. Because we have to bear in mind that the US is not See “No funds,” A8
HMO H1 net income soars 131%, says IC By Reine Juvierre S. Alberto
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@reine_alberto
HE health maintenance organization (HMO) industry maintained its profitability in the first half of the year, as its net income more than doubled to P1.471 billion. Latest data from the Insurance Commission (IC) showed that the net income of the HMO industry soared by 131.12 percent to P1.471 billion from January to
June this year from P636.6 million in the same period last year. The increase was propelled by higher revenues amounting to P47.032 billion in the first semester of this year, up by 21.36 percent year-on-year from P38.754 billion. Of the total revenues, P45.792 billion came from membership fees, which also saw an increase of 25.23 percent from P36.565 billion a year ago. See “HMO,” A2
HYBRID WORK REDRAWS PHL OFFICE PLAYBOOK–REPORT By Bless Aubrey Ogerio
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@blessogerio
OMPANIES are rethinking what offices should look like, cutting back on space while channeling resources into layouts designed for collaboration, wellness and flexibility, according to a market report by Cushman & Wakefield. In its Metro Manila Office Q2 2025 report, the global real estate firm said hybrid work is continuing to reshape strategies, with occupiers streamlining their footprints and invest-
ing in adaptable spaces. Flexible workspaces, it noted, are increasingly being used to cushion uneven growth and fluctuating occupancy costs, offering scalability and resilience in a shifting market. Cushman & Wakefield also flagged a rising demand for green-certified and disaster-resilient buildings, as companies align with sustainability targets and long-term operational goals. “These trends reflect a shift in how businesses view real estate—no longer just as a See “Hybrid,” A2
BASIN INSTINCT A worker inspects the underground construction of a rainwater harvesting basin in Barangay Tandang Sora, Quezon City, on Wednesday, August 27, 2025. The basin, built by the Quezon City Local Government Unit, measures 3 meters deep and spans 17 by 28 square meters. It is designed to help ease flooding by temporarily storing heavy rainwater runoff and gradually releasing it into nearby creeks and rivers. NONOY LACZA
India’s Tata to invest in PHL hospitality By Ma. Stella F. Arnaldo Special to the BusinessMirror
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LOBAL Indian conglomerate, the Tata Group, is considering to expand its investments in the Philippines by making an inroad specifically in the hospitality industry. This developed after representatives of New Delhi-based luxury hotels businesses The Indian Hotels Company Ltd. (IHCL) and The Oberoi Group met with Tourism Secretary Christina Garcia Frasco on the sidelines of President Ferdinand Marcos Jr.’s recent state visit to India. Frasco had explained to the companies’ executives on projects that will enhance the tourism business in the Philippines.
“Definitely, we have been deliberating on expanding in Southeast Asia and the Philippines, with Manila being the country’s gateway city on our radar. Our intent is to bring a luxury offering outside of India,” said IHCL Vice President for Development Anika Gupta, as quoted by a news statement from the Department of Tourism (DOT). The agency didn’t say whether IHCL intends to construct a hotel or just manage one. Net direct investments from India have been falling since the pandemic, per data from the Bangko Sentral ng Pilipinas. From a peak of US$2.17 million in 2020, these investments gradually fell the following years and hit -$0.83 million in 2024.
IHCL, a subsidiary of the Tata Group, owns or manages hospitality establishments under the Taj, Claridges Collection, SeleQtions, Vivanta, Gateway, Ginger, and Tree of Life brands. It owns and operates the oldest hotel in India, the Taj Mahal Palace, which opened in 1903.
IT projects, vehicle sales
TATA Group’s interests in the Philippines includes Tata Consultancy Services, which is focused on information technology (IT), consulting, and business services. Among its projects is the improvement of the digital infrastructure in the country with a collaboration with NOW Corp. and the IT modernization of McDonald’s Philippines. It
also operates a business process outsourcing center in Metro Manila and Angeles, Pampanga. Another subsidiary, Tata Motors, sells commercial and passenger vehicles through the Pilipinas Taj Autogroup Inc. Tata Motors and IHCL are just among the 100 companies under the Tata Group’s ambit. IHCL earned INR1.6 billion (US$18.26 million) profit after tax in fiscal year 2025 ending March 2025, marked by 74 hotel signings and 26 openings in said year, according to the company’s regulatory filing. It is India’s largest hospitality company with 380 hotels in its portfolio. “[We] currently have over 335,000 room keys. We’re chasing after See “India’s,” A2
PESO EXCHANGE RATES n US 56.8460 n JAPAN 0.3858 n UK 76.6739 n HK 7.2939 n CHINA 7.9485 n SINGAPORE 44.2485 n AUSTRALIA 36.9044 n EU 66.2085 n KOREA 0.0408 n SAUDI ARABIA 15.1521 Source: BSP (August 27, 2025)