ments due to the steeper tariffs imposed on goods bound for the United States may have started to dwindle, but Philippine exporters are still gunning for at most a 7-percent growth next year despite the US tariffs.
Department of Trade and Industry-Export Marketing Bureau (DTI-EMB) Director Bianca Pearl R. Sykimte explained to reporters the flow of outbound shipments in 2025, particularly how exporters have responded to Washington’s imposition of tariffs on its trading partners including the Philip -
pines, which started in July 2025.
“Actually, because of the tariffs, there were a lot of early shipments. So a lot of people saw that to avoid the tariffs, we’ve seen advance shipments of our exports to the US,” Sykimte told reporters on the sidelines of the National Exporters’ Week on Tuesday.
Asked until when will the frontloading of shipments happen, Sykimte said: “Maybe it’s already over. But it depends on the expectations of the buyers and exporters.”
She also noted that exports data may normalize “in the next few months.”
This means that data on Philippine exports after Washington’s imposition of the steeper tariffs
on Philippine goods may start showing the real trend next year.
At the early start of the imposition of tariffs, Sykimte said exporters had a hard time because they were being asked to “share the cost of the tariffs.”
“Because I think within the US, retailers are also pressured not to increase the prices,” Sykimte explained further.
Amid the steeper tariffs imposed by the United States on the Philippines, at 19-percent reciprocal tariffs, Sykimte said this is the first time in history that the Philippines “consistently exported $7.2 billion average every month.”
“Usually we would only export $5 to $6 billion a month for merchandise exports,” Sykimte said, adding
that the frontloading of exports was reflected in the country’s exports data in the last five months, from June to October 2025. Through the private sector’s lens, Philippine Exporters Confederation Inc. (Philexport) President Sergio R. Ortiz-Luis Jr. said the Philippines will hit the $113.42-billion target in exports of goods and services set in the Philippine Development Plan (PDP) 2023-2028.
Early this year, Ortiz-Luis only hoped for total exports to reach $110 billion. He said while the country’s goods and services exports will grow this year, it may not reach the doubledigit percentage growth rate.
AS PESO KEEPS
By Reine Juvierre S. Alberto @reine_alberto
THE weaker peso against the US dollar drove the national government’s outstanding debt to P17.562 trillion by the end of October, as currency swings added to its obligations despite a lesser reliance on foreign borrowings.
Latest data from the Bureau of the Treasury (BTr) showed the government’s outstanding debt rose by 0.61 percent to P17.562 trillion as of endOctober 2025 from P17.455 trillion as of end-September 2025. This marks a reversal from the 0.07 percent month-on-month decline recorded in end-September.
According to the Treasury, the increase in debt was driven by the upward revaluation effects of the peso against the US dollar, which slipped to P58.771 at the end of October from P58.149 at end-September 2025, along with net issuances of domestic and external liabilities.
Of the total debt stock, 68.6 percent was sourced domestically, while the remaining 31.4 percent was borrowed from foreign financiers.
“[This is] consistent with the Bureau of the Treasury’s debt strategy of prioritizing local currency financing to mitigate foreign exchange risks and foster the development of the domestic bond market,” the Treasury said in a statement on Tuesday. Broken down, domestic debt inched up by 0.60 percent to P12.045 trillion as of end-October 2025 from P11.972 trillion in end-September 2025. The Treasury attributed the increase to the net issuances of government securities for the month totaling P70.65 billion, with peso depreciation adding P1.78 billion to the local currency valuation of retail dollar bonds. Likewise, external debt grew by 0.63 percent month-on-month to P5.516 trillion as of end-October 2025 from P5.482 trillion, behind the net loan availments of P8.25 billion and upward net adjustments of P26.10 billion in the peso equivalent of foreign currency debt.
By Justine Xyrah Garcia
ACTORY gate prices in the country barely moved in October as declining electronics prices weighed on the manufacturing sector, according to the Philippine Statistics Authority (PSA).
Preliminary data from the PSA showed that the Producer Price Index (PPI) for manufacturing increased by 0.3 percent year-on-year, easing from the 0.8-percent annual growth posted in September. In October last year, the
index recorded a 0.4-percent contraction.
“The slower annual increase of PPI for the manufacturing section in October 2025 was primarily due to the annual decline in the PPI for manufacture of computer, electronic and optical products,” the PSA reported.
The agency said prices in the electronics division fell by 1 percent, reversing the 0.6-percent increase recorded in September.
Electronics alone also accounted for 56 percent of the overall slowdown, reflecting the
EVEN with the growing economic impact of “political noise,” Malacañang maintained that the government can still hit its gross domestic product (GDP) target this year with the help of the public.
This despite the Department of Economy, Planning, and Development (DEPDev) conceding on Monday that it is “very unlikely” for the country to achieve the 5.5 percent to 6.5 percent economic growth target set by the Development Budget Coordination Committee (DBCC). GDP was only at 4 percent from July to September.
It noted that the economy needs to grow by 7 percent from October to December for the country to achieve at least the lower end of the DBCC’s GDP target.
In a press briefing on Tuesday, Palace Press Officer Claire Castro noted the importance of stakeholder participation to help the country reach its GDP goal.
“Again, the Palace is trying, the President is trying to ensure that we reach our target,” she said in Filipino.
“So, with the help of the President’s economic team and also with the help of the people, hope -
fully we will reach our target,” she added. The economic managers attributed the slowdown in the economy during the first nine months of the year to their series of typhoons, which hit the country as well as the rising anti-government sentiments after the President started his campaign against anomalous flood control projects.
“We will still try [to reach the GDP target], especially with these kinds of rallies that have happened, it is really quite noisy and it is affecting the economy,” Castro said.
A14
This year, the FAO expects Philippines to import 602,000 metric tons (MT) of pork, up by 18.5 percent from its estimated shipments of 508,000 MT in 2024.
However, data from the Bureau of Animal Industry (BAI) showed that the Philippines has imported 632,991 MT of pork as of end-September, with Brazil accounting for over a third or 37 percent of the shipments at 236,632 MT.
Highlands Coffee, 6 PHL firms in Fortune Asia 100
By VG Cabuag
AVIETNAMESE
company owned by fast food giant Jollibee Foods Corp. and six Philippine companies were listed in the inaugural Fortune Asia 100 Best Companies to Work For in Southeast Asia.
Continued from A14
whether aligned with the administration or the Dutertes, abolish all political dynasties, and reject any military action that favors the Dutertes or installs a civilian-military junta in any form.”
They said the bishop’s comments showed an effort to maintain transparency within the movement and should not be taken as an attempt to divide reform efforts.
“He [David] was clearly signaling that the organizers are continuously reading the public pulse and where the unfolding evidence will lead. He was not closing the door on other democratic options, he was recognizing that movements mature through careful timing and assessment of the balance of forces. That is political responsibility,” the group added.
According to Fortune Magazine, Jollibee-owned Highlands Coffee is ninth on the list with six other local firms.
The others were Balibago Waterworks System, Robinsons Hotels and Resorts, Universal Robina Corp., Megaworld Corp. and business services firms Infinit-O and PeoplePartners.
The list spotlights organizations that excel not only in performance
Continued from A14
digital connectivity—and expand modern, strategic, and climate-re -
but also in creating outstanding workplaces, it said.
Built on the Great Place to Work model, the list recognizes companies whose employees trust their employers, take pride in what they do and enjoy their colleagues, it said.
These indicators are the same for every employee, regardless of role, identity or location.
This year’s list draws on the voices
silient ecozones that can host nextgeneration manufacturing,” Panga also told this newspaper.
As to the factors that could have pulled down the country’s PMI score to a four-year low, Peza believes that both local and international manu -
of 1.3 million employees from over 450 companies across a diverse array of industries in Southeast Asia.
Trust Index scores among the Fortune 100 Best Companies ranged from 80 percent to an impressive 92 percent of employees reporting consistently positive workplace experiences—far above the regional average of 67 percent.
“This latest milestone came as a result of the company’s stellar performance rating in its certification as a Great Place to Work, where it posted an outstanding 94-percent approval rating from Megaworld employees as a ‘great place to work’—the highest rating among all major real estate developers in the Philippines,” Megaworld said in a statement. Megaworld Hotels and Resorts
facturers are being “cautious” in their operations due to “various geopolitical challenges and domestic pressures.”
“Sluggish global demand, high interest rates in key markets, and ongoing geopolitical tensions have reduced export orders, particularly in electronics and automotive parts,” said the investment promotion agency tasked to promote and establish economic zones.
Through a business group’s lens, the Federation of Philippine Industries, Inc. (FPI) indicated that the decline in the Philippines’ Manufacturing PMI in November 2025 could have stemmed from delayed expansion plans of investors, which is only one of the consequences of the corruption controversies hounding the Philippines.
“Globally, corruption controversies are known to undermine investor trust, delay expansion plans, and possibly raise financing costs, and the Philippines has not been immune to these pressures,” FPI Chairperson Elizabeth H. Lee said in a Viber message on Tuesday.
Lee explained that the government’s “decisive” campaign against corruption is the “tough but necessary remedy.”
“And with proper reforms and the strict implementation of it, we are confident it will deliver lasting benefits—restoring fairness for business and rebuilding trust among consumers,” added the FPI Chairperson.
Lee, however, recognized “important” reforms now being put in place such as Bureau of Internal Revenue (BIR) Commissioner Charlito Mendoza’s recent move to suspend “abusive audit practices,” which she said will
was also recognized for having one of the highest satisfaction ratings in the region in its category, joining other international hotel chains as one of the region’s best hospitality employers.
“To be named among Southeast Asia’s best companies to work for is a proud testament to our commitment to business excellence and to our continuing pursuit of nurturing our people towards greater success.
We believe that success is best achieved when people are enabled to thrive and lead with purpose.
This milestone is dedicated to the passionate men and women of Megaworld, who remain the driving force behind our success and our higher purpose as an organization,” Megaworld president and CEO Lourdes T. Gutierrez-Alfonso said.
pave the way for fairness and predictability.
The FPI Chairperson also took note of Customs Commissioner Ariel Nepomuceno’s digitalization efforts and “risk-based” inspections to “close loopholes and combat smuggling.”
Explaining the importance of these reforms, Lee said: “By reducing discretion, enforcing clear standards, and ensuring full traceability from port entry to tax audit, these measures directly confront the issues exposed by the scandals.”
For compliant firms, this translates into a level playing field, lower hidden costs, and renewed confidence, added Lee.
While households have grown “cautious” in their spending, the FPI official noted that government’s reforms are “laying the groundwork” for trust to be rebuilt across both business and consumer sectors.
“With demand side support and credible enforcement now aligned, we look forward to a clearer path to restore confidence, strengthen manufacturing, and position ourselves for recovery in the near term,” added Lee.
Meanwhile, even with the lower PMI, Peza believes the country’s manufacturing base remains “fundamentally resilient and poised to rebound once external conditions stabilize.”
“Our strengthened investment promotion and facilitation initiatives, especially as we take advantage of strategies like “China+1+1,” will help diversify supply chains and position the Philippines as a stable, costeffective, and talent-rich alternative for global firms,” Peza noted.
sector’s weight in the PPI basket— the second highest among the 22 industry divisions covered. Other industry groups also contributed to the slower annual growth. The PPI for food products rose 0.4 percent, down from 0.7 percent, as vegetable and animal oils and fats saw weaker price growth. Basic metals also posted a softer uptick of 1.4 percent from 2.2 percent in September.
Still, several sectors helped keep the index in positive territory. The PPI for coke and refined petroleum products grew 3.5 percent, while transport equipment and basic metals posted gains of 1.0 percent and 1.4 percent, respectively. In total, 12 industry divisions registered annual increases, while seven posted declines.
Month-on-month, the PPI for manufacturing rose by 0.4 percent in October, picking up from the 0.1 percent increase in September. In October 2024, the index posted a stronger 0.9 percent monthly gain.
“The top contributor to the faster month-on-month growth rate of PPI for manufacturing in October 2025 was the manufacture of coke and refined petroleum products,” the PSA said.
Petroleum prices rebounded by 1 percent after a 1.9 percent decline in September.
This was followed by transport equipment, which rose 0.8 percent after posting a 0.1-percent decline in the previous month, and computer, electronic and optical products, which posted a faster monthly increase of 0.9 percent from 0.5 percent.
Combined, these three industries accounted for 91.5 percent of the month-on-month acceleration.
“Of the remaining 19 industry divisions, 12 registered monthly increases, four exhibited month-onmonth decreases, and three recorded zero percent month-on-month rates during the period,” PSA added.
The PPI measures factory gate prices of domestically manufactured goods and serves as an indicator of inflationary pressures within the sector. It is also used as a deflator for indicators such as the Value of Production Index (VaPI) and the Value of Net Sales Index (VaNSI), which help estimate changes in manufacturing output and sales.
Last month, the Presidential Communications Office (PCO) Undersecretary said the government can spur economic growth by accelerating its spending of its P1.31-trillion programmed funds this year.
She said government economic managers are also banking on the increased public spending during the Christmas holidays to boost the economy.
In its third quarter Consumer Expectations Survey (CES), the Bangko Sentral ng Pilipinas (BSP) reported their consumer index (CI) improved to -9.8 percent from -14 percent in the second quarter of the year.
CI measures average direction in overall conditions of the economy, household finances, and household income.
Samuel P. Medenilla
Hindi siguro ‘yan mag double-digit growth. If we go by 7 percent, that’s good,” the Philexport chief said.
Ortiz-Luis is banking on electronics, services and agricultural exports to propel the country’s exports next year.
Sykimte said the government and private sector, through the Export Development Council, will be announcing the recalibrated export targets for the Philippines under the Philippine Export Development Plan (PEDP) at the National Export Congress on Thursday. She stressed anew the reason behind the recalibration of targets: “Definitely because when we were drafting the PEDP, we were at the point of recovery from Covid. So the growth figures are a bit high when you simulate the figures.”
Data obtained from DTI-EMB showed that total Philippine exports reached $106.6 billion in 2024. This was an all-time high for the country’s outbound shipments.
Based on the October 2025 data released by the Philippine Statistics Authority (PSA), the Trade department said electronics continues to “anchor” Philippine export growth, driven largely by semiconductors and EDP products.
Meanwhile, DTI pointed out that non-electronics performance remains “uneven,” with strong gains in minerals, coconut oil, and other manufactured goods offsetting declines in chemicals, bananas, and metal components. Also amid Washington’s protectionist policies, DTI noted that market diversification is “improving,” with double-digit growth recorded in US, Japan, Hong Kong, Germany, Taiwan, and Mexico.
Half of accused in Mindoro flood control project plead not guilty of malversation
OSG changes stance, defends govt in Duterte turnover to ICC case
NINE of the 18 accused in the P289.5 million anomalous flood control project in Naujan, Mindoro yesterday pleaded not guilty of malversation in one of the cases filed against them before the Sandiganbayan by the Office of the Ombudsman. Among the accused who were brought before the Sandiganbayan’s Sixth Division for their arraignment were Gerald Pacanan, DPWH Regional Director; Gene Ryan Altea, DPWH Assistant Regional Director; Ruben D.S. Santos, DPWH Assistant Regional Director; Dominic Serrano, DPWH Chief, Construction Division and Bids and Awards Committee (BAC) chairperson; Felisardo Casuno, DPWH Project Engineer 3; Lerma Cayco, DPWH Accountant IV; Dennis Abagon, DPWH OIC-Chief, Quality Assurance and Hydrology Division and Regular Member, BAC; Montrexis Tamayo, DPWHMimaropa Planning and Design Division officer-in-charge; and Juliet Calvo, DPWH Maintenance Division Chief.
On November 27, the accused also pleaded not guilty in the graft case before the Sandiganbayan’s Fifth Division also in connection with the allegedly anomalous project undertaken by Sunwest Corporation, the construction company
being linked to the family of resigned Ako Bicol Rep. Zaldy Co, who is also one of the accused in the graft and malversation cases.
Aside from Co, the other accused who are still at large are Timojen Sacar, DPWH materials engineer; Aderman Alcazar, president and board chairman, Sunwest Construction; Cesar Buenaventura, treasurer and board member, Sunwest Construction; Consuelo Aldon, board member, Sunwest Construction; engineer Noel Yap Cao, board member, Sunwest Construction; and Anthony Ngo, board member, Sunwest Construction.
The National Police-Criminal Investigation and Detection Group (PNP-CIDG) earlier announced that two executive of Sunwest have already sent surrender feelers.
In a related development, Laguna Rep. Benjamin Agarao Jr. has denied claims made by private contractors Pacifico and Sarah Discaya that he along with several other congressmen received kickbacks from flood control and other infrastructure projects of the government. Agarao made the denial during his appearance before the Independent Commission for Infrastructure (ICI).
See “Flood control,” A8
Navy commissions another frigate
ANOTHER frigate was commissioned by the Navy (PN) on Tuesday, boosting its capability to patrol and protect the country’s 200-nautical miles exclusive economic zone (EEZ).
“This [warship] will add to the capital ships of the PN that [are] capable of patrolling all the way up to our EEZ and even beyond,” the Navy’s spokesperson for the West Philippine Sea, Rear Adm. Roy Vincent Trinidad, said in a press briefing in Camp General Emilio Aguinaldo, Quezon City.
Trinidad was referring to the guided-missile frigate BRP Diego Silang (FFG-07), which was formally commissioned on Tuesday during ceremonies held at Naval Operating Base Subic in Zambales.
“It will be the most modern warship that we will have,” Trinidad said.
BRP Diego Silang arrived in the Philippines from South Korea on September 8, 2025.
Like its sister ship, BRP Miguel Malvar (FFG-06), which arrived
on April 8 and was commissioned on May 20, BRP Diego Silang displaces 3,200 gross tons, measures 118.4 meters, and has a beam of 14.9 meters.
The two ships were procured from South Korean shipbuilder HD Hyundai Heavy Industries (HHI) for P28 billion, with the contract signed in December 2021 under by then Defense Secretary Delfin Lorenzana.
Trinidad said more warships are scheduled to be delivered to the PN within the next few years, including six offshore patrol vessels, of which two have been completed by HD HHI and undergoing sea trials in South Korea.
There are also two landing dock platforms currently being built by Indonesian shipbuilder PT PAL, he added.
Procurement for two more frigates, meanwhile, is “in the discussion phase,” Trinidad.
“This will bring the total to 10 more warships that we are waiting [for],” he said. PNA
‘Grant PWD cards lifetime validity’
By Jovee Marie N. dela Cruz @joveemarie
ALEGISLATOR has filed a measure seeking to grant lifetime validity to the identification cards of persons with permanent disabilities, freeing them from what he described as “unnecessary and burdensome” renewal requirements.
House Bill 6306 filed by Parañaque City Rep. Brian Raymund Yamsuan mandates the issuance of PWD IDs that are valid for life and issued free of charge. Yamsuan said the proposal complements ongoing efforts by the Department of Social Welfare and Development (DSWD) and the National Council on Disability Affairs (NCDA) to implement a unified PWD ID system.
“The renewal of PWD IDs for those with temporary or progressive conditions is reasonable, but for people with lifelong disabilities, especially those from low-income
families, this process is unnecessary and only adds to their distress and inconvenience,” said Yamsuan, as the nation marked International Day of Persons With Disabilities in the Philippines on December 3.
“Let’s simplify and make the process easy for them by providing lifetime validity of their PWD IDs free of charge,” he added. Yamsuan stressed that the measure will ensure uninterrupted access to benefits for legitimate PWDs while supporting government efforts to curb the fraudulent sale of PWD IDs.
“This is an opportune time to pass House Bill 6306 and other similar measures pending in Congress as the government continues to streamline the management of PWD IDs and stop the fraudulent practice of selling these IDs to fake beneficiaries,” Yamsuan said. According to the latest data
TBy Joel R. San Juan @jrsanjuan1573
HE Office of the Solicitor General (OSG) has withdrawn its recusal from defending Malacañang and other Executive officials over their decision to surrender former President Rodrigo Duterte to the International Criminal Court (ICC) to face trial for crimes against humanity in connection with his bloody anti-illegal drug war campaign.
“After due consideration, the OSG hereby enters its appearance anew as counsel for all the respondents in the above-captioned case and requests that it be furnished with copies of all court issuances and submissions at its official address…,” Solicitor General Darlene Marie Berberabe said in a fourpage manifestation.
It may be recalled that Berberabe’s predecessor, former Solicitor General Menardo Guevarra, filed a manifestation and motion dated March 21, 2025, asking the Court to consider his office’s recusal from the petition for certiorari and prohibition filed by Duterte and Sen. Ronald dela Rosa seeking to stop the government from cooperating with the ICC.
The Court granted OSG’s recusal to represent the respondents namely Executive Secretary Lucas Bersamin, former Justice Secretary and now Ombudsman Jesus Crispin Remulla, Interior and Local Government Secretary Jonvic Remulla, former National Police (PNP) chief Gen. Rommel Francisco Marbil, former PNP-Criminal Investigation and Detection Group Director Gen. Nicolas Torre III, Foreign Affairs Secretary Enrique Manalo, Armed Forces chief of staff Gen. Romeo S. Brawner and the Bureau of Immigration (BI).
Guevarra also recused from defending the government on the petitions for a writ of habeas corpus filed by Duterte’s children Davao Mayor Sebastian Duterte, Davao Rep. Paolo Duterte and Veronica A. Duterte.
In both cases, Guevarra maintained his position that the ICC has no jurisdiction over the Philippines following its withdrawal as a state party to the Rome Statute, which created the ICC, on March 17, 2019.
Guevarra served as Justice secretary during the watch of Duterte and was appointed SolGen by President Marcos.
Berberabe, however, said she decided to reconsider the OSG’s non-participation in the two cases after the Department of Justice (DOJ) referred to the OSG for action the Court’s resolution issued on November 18, 2025 requiring the respondents to submit within 10 days their comment on dela Rosa’s very urgent manifestation with most respectful reiterative prayer for the issuance of a temporary restraining order-injunction.
In his very urgent manifestation, dela Rosa through his counsel, lawyer Israelito Torreon, asked the Court to compel the Department of Justice (DOJ) and the Department of Foreign Affairs (DFA)
to submit written certifications confirming whether or not an ICCrelated warrant, note verbale or communication has been received, transmitted or processed through official channels.
Dela Rosa told the Court that aside from the alleged ICC warrant
of arrest, he has received reports that the international tribunal has allegedly issued a diffusion order against him on November 9, 2025.
OSG asks SC: Junk dela Rosa’s plea
IN compliance with the Court’s directive, the OSG filed its comment on dela Rosa’s manifestation last December 1 and sought its denial for lack of merit.
Berberabe argued that the senator’s manifestation “is but a preemptive measure” to stop the respondents from acting on the alleged ICC arrest warrant issued against him.
The Solicitor General noted that there is no official government declaration on the existence of an ICC warrant or diffusion order directed at dela Rosa.
She also cited the statement issued by the DOJ that it has “not seen nor received a copy” of the ICC arrest warrant.
“At this stage, therefore, Senator fela Rosa has no clear legal right that needs court protection because his fear of impending arrest and the supposed violation of his right as a consequence thereof, while imaginable, do not find anchor in any established fact,”
Berberabe said. The OSG also pointed out that dela Rosa merely alluded to various online news articles saying that the ICC had already issued a warrant for his arrest and a diffusion order.
“Petitioners have shown no proof of the existence of the alleged arrest warrant and diffusion order supposedly issued by the ICC,” Berberabe added. It may be recalled that it was Ombudsman Remulla who publicly disclosed that the ICC had already issued a warrant of arrest against dela Rosa.
Remulla even claimed that he has a copy of the arrest warrant on his mobile phone.
Berberabe, however, said Remulla’s pronouncements cannot be construed as an act or declaration of the national government but merely a “personal scoop.”
“Clearly, in the absence of the actual warrant issued by the ICC, Senator dela Rosa’s reiterative prayer for injunctive relief has no leg to stand on,” the Solicitor General stressed.
Meanwhile, Torreon said the re-entry of the OSG in the case
See “OSG,” A8
Housing price ceiling set for nationwide adjustment
By Bless Aubrey Ogerio
THE government moved to revise the price ceiling for socialized housing following an agreement between the Department of Human Settlements and Urban Development (DHSUD) and the Department of Economy, Planning and Development (DEPdev) to update existing limits for both subdivision and condominium units.
The adjustment was formalized through a new Joint Memorandum Circular (JMC), which Housing
Secretary Jose Ramon Aliling described as an important step in aligning ongoing and upcoming developments with current market conditions.
“More projects mean more choices for our homebuyers, and of course, a more competitive selling price,” Aliling said in Filipino, noting that the updated ceiling is expected to widen the options available to both developers and buyers.
The price cap sets the maximum allowable selling price for socialized housing, which typi -
cally serves low-income families and forms part of compliance requirements for private developers.
In July, DHSUD initiated a review of its pricing framework to determine whether existing rates remained practical for buyers while still viable for developers and partner agencies involved in socialized housing projects.
That reassessment led to the creation of a technical working group (TWG) tasked with studying potential adjustments. Members of the TWG include officials from DHSUD and representatives
PHL takes Asean leadership role in labor governance
from major industry associations
According to DHSUD, the TWG initially expected to finalize its recommendations by October. Those recommendations will guide the planned update to the previous circular, which outlined the existing price limits for socialized housing packages.
The agency said the ongoing review is part of regular policy adjustments meant to reflect changes in construction costs, land values and financing conditions affecting the production of socialized housing nationwide.
LTFRB girds for commuter rush during holidays
By Lorenz S. Marasigan @lorenzmarasigan
THE Land Transportation Franchising and Regulato -
ry Board (LTFRB) is finalizing its review of special permit applications for passenger buses ahead of the Christmas and New Year holidays, with applications surging 41 percent from last year.
LTFRB Chairman Vigor D. Mendoza II said the agency received 1,413 applications, covering 116 routes nationwide during the filing period from November 10 to 21.
The figure represents a sharp increase from 1,003 applications in 2024 and marks a 20-percent rise from the 1,174 applications received in 2023.
Mendoza said the surge in applications reflects the anticipated increase in passenger volume, emphasizing that the agency would rather “approve more buses than risk leaving passengers stranded at terminals due to insufficient transport capacity.”
“We expect more people to travel in the coming days as school breaks begin and people return to their provinces. Others will head
to Manila and other cities for vacation, so we need to prepare for all of this,” he said.
The special permits, which will cover the period from December 15, 2025 to January 16, 2026, are intended to accommodate the expected surge in travelers during the extended holiday season.
Mendoza emphasized that passenger safety and comfort remain the top priority, despite the surge in special permit applications.
“We can’t just give permits to any bus. The safety and comfort of the passenger will always be
the priority,” he said, adding that only units passing roadworthiness inspections will be granted permits.
The LTFRB will coordinate with other government agencies, including the Police and local government units, to monitor buses beyond terminals and ensure road safety throughout the holiday period.
“Our monitoring doesn’t end at the bus terminal. We also need to focus on the roads with the help of our colleagues at the National Police [PNP] and local governments,” Mendoza said.
DOE convenes meeting to discuss WTE bill
By Lenie Lectura
@llectura
NDUSTRY stakeholders con -
Ivened to discuss key elements of the proposed Waste-to-Energy (WTE) bill, a critical piece of legislation aimed at addressing both solid waste management and energy production.
The Department of Energy (DOE), in collaboration with the Presidential Legislative Liaison Office (PLLO), recently hosted a multistakeholder forum. It was attended by national government agencies (NGAs), local governments (LGUs), civil society organizations (CSOs), academic institutions, project developers, private sector representatives, and environmental organizations.
The WTE bill seeks to establish facilities that will simultaneously
help manage residual solid waste and contribute to the country’s energy mix by utilizing waste as a feedstock for energy production.
The bill aims to significantly reduce reliance on sanitary landfills (SLFs) by prioritizing waste-toenergy facilities for appropriate residual waste streams, thereby reducing environmental pollution while providing an additional source of power.
“Our collective goal is not to find a simple compromise, but to achieve a comprehensive understanding, one that integrates robust scientific evidence, learns from the successes and failures of international best practices, and respects the unique realities of Philippine communities, particularly the fate of our informal waste workers,” said Energy Undersecretary Rowena Christina
Guevara.
Under the WTE bill, the DOE will regulate the energy production aspects, while the Department of Environment and Natural Resources (DENR) and the Department of the Interior and Local Government (DILG) will oversee ecological solid waste management strategies.
Key players in the implementation of the bill will also include the Energy Regulatory Commission (ERC), which will develop pricing regulations, and the Department of Health (DOH), which will ensure that all WTE facilities undergo Health Impact Assessment (HIA).
The Department of Science and Technology (DOST) will be tasked with technical verification of the technologies used, while the Department of Public Works
and Highways (DPWH) will work with LGUs to ensure strategic siting of WTE facilities. The Metro Manila Development Authority (MMDA) may provide funding support, while LGUs will facilitate feedstock collection, integrating it into their Local Solid Waste Management Plans.
“This forum is part of a continuous consultation process. We aim to generate evidence-based recommendations that can guide legislators in crafting workable solutions. Solid waste management is not just about waste reduction; it’s about capitalizing on waste’s potential to generate additional power for the country,” said Energy Undersecretary Mylene Capongcol.
WTE projects will be included in the Green Energy Auction Program, supported by Feedstock Service Agreements with LGUs.
TUCP seeks higher, inflation-indexed Pera for govt workers
THE Trade Union Congress of the Philippines (TUCP) has filed a bill aiming to increase and institutionalize the personnel economic relief allowance (Pera) for government employees. Under House Bill 6537 or the Dagdag Pera Act, TUCP proposes a P7,000 monthly allowance for all public sector workers covered by Republic Act 6758, regardless of
whether they hold regular, contractual or casual positions.
The current Pera rate is P2,000, last adjusted in 2009.
TUCP said the amount of Pera would also undergo annual reviews and “may be adjusted upward to account for inflation.”
Pera was first introduced in 1990 under a Department of Budget and Management (DBM) circular granting P500 to government personnel in plantilla positions.
The coverage was later expanded by then-President Fidel V. Ramos to include all government workers, regardless of employment status.
In 2009, Congress approved Joint Resolution 4, raising the allowance to P2,000, where it has remained for 16 years.
Rep. Raymond Democrito C. Mendoza, nominee of the party-list group TUCP to the House of Representatives, noted that the stagnation of Pera has weakened its value over time.
“The Pera has essentially been a form of economic relief provided by the government to its employees. Current
institutional arrangements, however, limit the responsiveness of Pera to address the cross-sectional problem of inflationary price hikes. The current P2,000 Pera enacted in 2009 does not sufficiently satisfy the essential problem of inflationary price increases it seeks to address,” Mendoza said in his explanatory note.
He added that HB 6537 aims to establish a “robust policy” that not only makes Pera a permanent entitlement for government employees but also creates a mechanism to adjust it regularly without requiring a new act of Congress.
If enacted, the funding for national government workers would be sourced through the annual General Appropriations Act.
Local governments would charge Pera to their respective budgets, while governmentowned and -controlled corporations would tap their corporate funds.
At the start of the 20th Congress in June, Party-list Reps. Antonio L. Tinio of ACT Teachers and Renee M. Co of Kabataan filed a similar proposal to increase Pera to P5,000 per month. Justine Xyrah Garcia
By Jovee Marie N. dela Cruz @joveemarie
THE Philippines is stepping up its role as a regional leader in labor governance as the Congress hosted a highlevel Thai parliamentary delegation for a bilateral meeting aimed at strengthening Association of Southeast Asian Nations (Asean) cooperation on worker protection, labor mobility, and future-of-work reforms.
Cavite Rep. Jolo Revilla, House Committee on Labor and Employment chairman, and Sen. Raffy Tulfo, Senate Labor Committee chairman, jointly welcomed the head of Thailand’s Standing Committee on Labor, Saritpong Kiewkong, in a visit endorsed by the Department of Foreign Affairs.
Far from a routine courtesy call, the engagement served as a strategic platform for the Philippines to showcase its policy direction as it prepares to assume both the Asean Inter-Parliamentary Assemby and Asean chairmanships in 2026.
Revilla said the timing of the visit positions the Philippines to lead and influence regional labor discussions—particularly on migrant worker protection, wagesetting standards, and governance challenges brought about by digital work and artificial intelligence (AI)-driven industries.
With the Philippines set to play a central role in Asean policymaking next year, Revilla noted that strengthening bilateral ties with Thailand—one of the region’s largest labor markets—will help align labor reforms and ensure the “collective upliftment” of workers across Southeast Asia.
The meeting gathered key Philippine labor agencies, including the Department of Migrant Workers led by Secretary Hans Leo Cacdac and senior officials of the Department of Labor and Employment. The two agencies provided the Thai delegation with updates on labor standards enforcement, OFW welfare systems, and ongoing
PWD. . .
Continued from A3
from the Department of Health and the NCDA, around 2.8 million Filipinos—or about 2.5 percent of the population—are registered as PWDs, far below the World Health Organization’s global estimate of around 16 percent. A United Nations Childrens Fund (Unicef) study suggests that many qualified PWDs may be discouraged from applying for or renewing IDs owing to challenges in the current system, he added.
Yamsuan noted that a unified PWD ID system, combined with lifetime validity for persons with permanent disabilities, would ease the administrative workload of local governments. This would allow LGUs to focus on identifying unregistered but legitimate PWDs and regularly updating the status of individuals with temporary or progressive disabilities.
reforms aimed at tightening employer accountability and modernizing labor dispute mechanisms.
Thailand’s 20-member delegation—which included committee advisers and officials from the Royal Thai Embassy—sought to gain insight into the Philippines’ legislative processes and its experience in crafting migrant worker policies, which are widely regarded as among the most developed in the region.
Discussions extended beyond minimum wage policies and worker welfare, delving into the governance of platform-based work, occupational safety reforms, and Asean-wide cooperation in preparing workers for emerging labor markets.
Revilla and Tulfo presented the Philippines’ reform roadmap, which includes amendments to the Labor Code, a stronger occupational safety regime, the formal recognition and protection of gig and freelance workers, and a more robust tripartite engagement model involving employers, labor groups, and government.
Arrival honors, policy briefings, and an open exchange of legislative perspectives marked the one-day activity, which ended with a guided tour of the House of Representatives for the Thai delegation.
Revilla said the visit signals the Philippines’ readiness to lead a more forward-looking and unified Asean labor agenda.
“Our goal is to continuously uphold the dignity and welfare of the Filipino worker. Through these kinds of bilateral engagements, we strengthen the foundations of our labor governance and deepen our ties with our neighbors in Asean,” Revilla said.
He reaffirmed that Congress remains fully committed to advance reforms that promote decent work, strengthen social protection, and ensure that both present and future generations of Filipino workers are equipped to thrive in a rapidly changing global labor landscape.
The bill also proposes a definition of “permanent disability” under Section 4 of the Magna Carta, describing it as a physical, mental, intellectual, or sensory impairment that substantially limits major bodily functions or activities and is medically certified as irreversible or lifelong.
Currently, PWD IDs are valid for five years, requiring cardholders to periodically undergo medical certification and resubmit documents for renewal. This process, Yamsuan said, is especially burdensome for persons with mobility limitations or those living in remote areas.
“Requiring them to appear in person every few years to renew an ID that certifies an unchanging medical condition contradicts the spirit of accessibility and inclusion promoted by the Magna Carta for PWDs,” Yamsuan said. He added that the burden falls most heavily on indigent PWDs, who rely heavily on the benefits provided under the law, including 20 percent discounts and VAT exemptions on medicines, food, transportation, and essential services; educational assistance; and employment support.
HB 6306 seeks to amend Section 32 of Republic Act 7277, or the Magna Carta for Persons with Disability, to specify that IDs issued to persons with permanent disabilities shall be free of charge and valid for the lifetime of the cardholder. Renewal would only be required in cases of loss or damage.
Only a genuine party-list system reform can serve marginalized sectors, curb corruption–Sen. Bam
By Butch Fernandez @butchfBM
SENATOR Bam Aquino has filed a proposed measure to reform the party-list system, introducing stronger safeguards to ensure that its representatives genuinely serve marginalized and underrepresented sectors and help curb corruption.
If enacted into law, Senate Bill No. 1559, or the “Party List Reform Act,” will help “guarantee that the party-list system truly serves the many and empowers ordinary Filipinos to have a real say in their Congress,” and will reduce, if not completely remove, opportunities for misuse and corruption within the system.
Aquino cited a 2025 study by election watchdog Kontra Daya, which found that as many as 86 of the 156 accredited party-list groups in the 2025 elections were linked to political dynasties or large corporations.
Of the 63 party-list groups proclaimed on May 19 as part of the 20th Congress, 40 were among those flagged in the said report. Various organizations, including the John J. Carroll Institute on Church and Social Issues (ICSI), have called for the restoration of dignity to the party-list system by bringing it back to its original purpose and intent.
“These findings underscore an urgent and undeniable truth: the party-list system is being exploit -
ed by the powerful at the expense of those it was designed to uplift,” Aquino said The bill mandates the Commission on Elections to conduct public evidentiary hearings to verify that organizations genuinely represent the sectors they claim to serve. The process also ensures that their nominees truly come from those sectors.
The measure also proposes to extend key deadlines, including the registration period for partylist groups from 90 to 120 days before elections and the release of the certified list of eligible organizations from 60 to 90 days prior.
The proposed law tightens rules on nominees as well, requiring party-list groups to submit at least six nominees, whose list must be approved by the organization’s highest decision-making body.
The bill disqualifies nominees who are related within the third degree to any incumbent elected official, as well as individuals who are or have been government contractors, including officers of companies involved in public infrastructure or other statefunded projects.
“Through these reforms, this measure ensures that the partylist system truly serves the many, not the few, and empowers ordinary Filipinos to have a real say in their Congress. It is a step toward a more inclusive, accountable, and meaningful democracy and the kind of government the Filipino people deserve,” Aquino said.
Kapampangan chef Jam Melchor’s Kayumanggi among Best Asian Food Culture Books at Gourmand Awards
By Ashley J. Manabat
KAPAMPANGAN chef and author Jam Melchor’s book
Kayumanggí: A Kaleidoscope of Filipino Flavors and Traditions was named Best Asian Food Culture Book in the World at the 2025 Gourmand Awards in Riyadh on November 27. Published by the Department of Trade and Industry (DTI), Kayumanggí was recognized during the Saudi Feast Food Festival.
Gourmand Awards founder Edouard Cointreau praised it as “a beautiful celebration of the Philippines’ rich culinary traditions” and noted its focus on indigenous ingredients, heirloom recipes and the cultural roots of Filipino cuisine.
Melchor, founder of the Philippine Culinary Heritage Movement, said he was “honored and humbled” by the recognition which the Philippine Embassy in Riyadh accepted on his behalf.
Melchor said the book was created not to compete for awards but to highlight farmers, regional cuisines, indigenous communities
Palawan power grid to get upgrade with NEA, MIC, LGU collaboration
TBy Lenie Lectura @llectura
HE National Electrification Administration (NEA), Maharlika Investment Corporation (MIC), Palawan local government, and Palawan Electric Cooperative (PALECO) have sealed a commitment to improve power distribution and supply in Palawan.
NEA Administrator Antonio Mariano Almeda signed a new memorandum of agreement (MOA) with Palawan Governor Amy Roa Alvarez, MIC President and CEO Rafael Jose Consing, Jr. and PALECO General Manager Engr. Rez Contrivida on Tuesday to formalize this collaboration.
Under the agreement, the MIC will fund “studies to assess the current state of Palawan’s electrical infrastructure and determine the most cost-effective and efficient ways to improve it.” PALECO and the Palawan government are expected to cooperate in this endeavor.
The NEA serves as the primary body tasked with any and all directions and decisions on the technical requirements and implementation of the MOA through the engagement of its organic personnel and technical consultants.
Almeda said this multistakeholder cooperation is a significant step towards the national government’s mission to stabilize energy supply in Palawan.
“Palawan’s robust and booming tourism have contributed both to the local economy and our country’s reputation in the international sphere. The island’s aged electrical infrastructure, however, has been hard-pressed to support the province’s growth,” he said.
“That is why, and to recall, the NEA, MIC and PALECO had agreed to collaborate and share technical expertise to enhance electricity services in the island province of Palawan,” the NEA chief added.
Department of Energy (DOE) Secretary Sharon Garin acknowledged that this collaboration is crucial to implement the necessary upgrades in Palawan, which is envisioned as the main gateway of the Philippines to the ASEAN Power Grid initiative.
“Let’s finish this before June 2028. I’m hoping or expecting that we finish the implementation and it’s up and running by June 2028…We want Palawan to be the gateway to the ASEAN Power Grid. That is why there’s a need to improve the system
within Palawan,” Garin said.
The NEA chief thanked the MIC for investing once again in an electric cooperative such as PALECO. He also extended his gratitude to Palawan, led by Governor Alvarez. for their trust in moving forward with this partnership.
Last year, the NEA also facilitated a similar agreement between the MIC, the provincial governments and electric cooperatives of both Oriental Mindoro and Occidental Mindoro to improve the electrical infrastructure in the said provinces.
MIC manages the Philippines’ first sovereign wealth fund, Mahalika Investment Fund (MIF).
“As of to date, the only one that we’ve deployed capital in is buying shares of SGP [Synergy Grid & Development Philippines Inc.], which we’ve deployed about a billion Pesos in,” said MIC Vice President for Investments Kheed Ng said.
SGP said last week that negotiations with MIC regarding its proposed investment in SGP are still ongoing.
SGP, which controls 60 percent of the National Grid Corporation of the Philippines, is a consortium led by tycoons Henry Sy, Jr. and Robert Coyiuto, Jr. State Grid Corp. of China (SGCC)
Office of the President recovers 55% of flagged travel expenses
By Samuel P. Medenilla @sam_medenilla
and the stories that shape Filipino food culture.
“I produced the manuscript using my own money and resources, with only one intention in mind: to honor our farmers, our regional cuisines and indigenous communities, our culinary heritage, and the stories that shape Filipino food culture,” Melchor shared in his Facebook post. “This recognition is not mine alone; it reflects every heart and hand that has walked with me in this journey.
I am merely a steward of a legacy far greater than myself.”
Kayumanggi was distributed for free through limited copies printed with DTI support and is now out of print.
Founded in 1995, the Gourmand Awards is the only international competition dedicated to food and drink publications.
It draws entries from more than 200 countries as this year’s event brought together guests from 96 nations.
Winners will be honored again during the Village International de la Gastronomie in Paris in September 2026.
Sen. Win Gatchalian pushes stronger govt capacity to rehab youth offenders
THE country will have five additional regional Bahay PagAsa (BPA) facilities, as Senator Win Gatchalian pushed for funding for these facilities, emphasizing the critical need for the government to enhance its capacity to provide appropriate interventions for children in conflict with the law (CICL).
The senator had specifically pushed for the allocation of P200 million for the establishment of five BPA centers in 2026.
“The BPA facilities are a critical lifeline for young individuals to reform and rejoin society productively. TuladngginawanaminsaValenzuela, nakitanatinkungpaanonatulun-
ganngBahayPag-asaangmaraming kabataan na naligaw ng landas na nais makapagtapos ng pag-aaral at makapagsimula ng bagong buhay,” said Gatchalian.
As chairperson of the Senate Committee on Finance, Gatchalian emphasized the need to ensure that the proposed budget gives priority to the needs of disadvantaged constituents, particularly young Filipinos. According to the DSWD, the country has 118 BPA centers that provide temporary shelter, rehabilitation programs, and support for reintegrating CICLs into society. However, many of these facilities have limited capacity. Butch Fernandez
OVER half of the uncollected P14 million in foreign travel expenses charged to the Office of the President (OP) has already been remitted by the concerned government agencies, according to Malacañang.
In its annual audit of the finances of the OP, the Commission on Audit (COA) has flagged the said overdue receivables, which it said remained uncollected as of December 2024.
State auditor said some of the said unpaid foreign expenses have been pending for six months to two years.
Palace Press Officer Claire Castro, however, said the OP already sent demand letters to the
concerned government agencies as well as government-owned or controlled corporations to collect the unliquidated amounts, which were used to pay for their officials, who accompanied President Ferdinand Marcos in his trips in China, Japan, Vietnam, Indonesia, Cambodia, Malaysia, the Czech Republic, Germany, Belgium, Switzerland, and the United States.
“That’s why the OP is making demands to the agencies to be paid to be compensated for the amount it spent [for the overseas trip of their officials], and this is going through the legal process,” she said.
The said demand letters already set the deadline for the concerned government agencies to return the said amount.
During the first half of the year, Castro said 55 percent of the flagged amount has been returned to the OP.
“Collection letters were already issued in April and May 2025. Of the said amount, P7,887,555.64 or 55 percent were already collected to date,” Castro said.
The Presidential Communications Office (PCO) Undersecretary said the OP is closely monitoring the payment of the said receivables so it can finally settle the concern raised by the COA.
“The OP consistently monitors the outstanding bills through monthly ‘aging’ reports and sending of collection demand letters,” she said.
“It needs to be paid because if it’s not paid, the OP’s work will be hampered,” she added.
Estrella: Agrarian communities gain resiliency, thrive under DAR
AGRARIAN reform communities continue to show resilience in the face of economic challenges and continue to thrive with the help of the government through the Department of Agrarian Reform (DAR), Secretary Conrado Estrella III said.
Speaking at the opening ceremony of the Agraryo Trade Fair (ATF) 2025 on December 1, 2025 at the Quantum Skyline, Gateway 2 Mall in Quezon City, Estrella expressed support for the creativity of Filipino farmers in product development and coming up with commercially viable byproducts of good quality.
“May this year’s fair inspire stronger collaboration, spark innovation, and deepen pride in the achievements of our farmers,” Estrella added.
This year’s theme, “Gawang ARBO, Tatak Agraryo,” highlights the creativity and abundance of agrarian reform beneficiary (ARB) products nationwide.
More than 300 ARB Organization (ARBO) products from the Cordillera Administrative Region
(CAR) to CARAGA, including the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), are on display, expanding opportunities for product promotion, market matching, and business networking.
The fair features three wellcurated market zones—Harvest Exchange, Prosperity Market, and Community Treasures Pavilion—designed to offer visitors an engaging and consumer-friendly experience.
ARBOs stand to gain increased visibility among institutional buyers, retail chains, food service providers, and the general public. The fair also provides ARBs and ARBOs a national platform to promote their best products, build new partnerships, and strengthen linkages with fellow farmers and private enterprises.
DAR Undersecretary for Support Services Josef Angelo S. Martires underscored the fair’s direct benefit to rural communities. “Every purchase directly supports our farmers and their families. By choosing local, we
owns the remaining 40 percent. Ng said MIC’s next investment plans will be announced soon. “Now we’ve got a pipeline that I think is quite robust. So in the next six months you can expect some deals to come through that the public will be quite happy with. No, not energy. Anything that creates, that’s nation building. Anything that you make an investment and there’s a multiplier effect for the nation, we’re very excited about our deals that we’re expecting to come out in the next six months,” he said.
Ng added that MIC has “looked at some IPOs [initial public offering]” but stressed that this is “not a top priority for us.”
MIC Chief Legal Officer and General Counsel Paul Salanga, meanwhile, said the company is “very prudent” in its investment decisions. “We are very careful because we are very mindful that this is public funds that we are investing. So, not that we are, you know, before we make an investment, we make sure that we hit our investment target, it will hit our investment target. And also, it’s quite important that there is a national development impact. It’s not just a matter of returns,” he commented.
Nartatez orders full review of PNP’s disability discharge rules
By Rex Anthony Naval
Auplift agrarian reform communities and reinforce the foundations of rural development,” he said.
Spearheaded by the DAR–Bureau of Agrarian Reform Beneficiaries Development (BARBD), the ATF serves as the country’s premier annual showcase of community enterprises—from fresh produce and processed goods to handicrafts and artisanal specialties.
Special guests during the event included Eleanor C. Bulut-Begtang, Chairperson of the House Committee on Agrarian Reform; Joey Concepcion, Founder of Go Negosyo and Chairperson of ASEAN-BAC Philippines; Engr. Paolo N. Diaz, Chief Strategy Officer of Gothong Southern Group of Companies; William Dar, Go Negosyo–KALAP Senior Adviser; and Ma. Celeste A. Burgos, LBP Executive Vice President and Head of the National Development Lending Sector.
The Agraryo Trade Fair 2025 runs from December 1–5, 2025, at Quantum Skyline, Gateway 2 Mall in Quezon City. Jonathan L. Mayuga
Nartatez said the order is part of the internal reforms to ensure that wounded law enforcement personnel receive the recognition, benefits, and opportunities they rightfully deserve.
Marcos, reacting to a viral video posted by an Army captain who went blind after an explosion, ordered the Department of National Defense and Armed Forces of the Philippines to reassess and strengthen their disability discharge rules following the forced retirement of a soldier who lost his sight in a blast incident.
Nartatez directed the PNP Health Service and the Directorate for Personnel and Records Management to begin an audit of existing disability discharge procedures, focusing on outdated provisions, gaps, and areas for improvement. He also added that the PNP has established policies on complete disability discharge.
“But with the instruction of the President, we are now looking at our procedures to ensure they are updated, fair, and responsive,” he added.
The core law governing the PNP’s policy on disability discharge is anchored on Republic Act 6975 or the Department of the Interior and Local Government (DILG) Act of 1990.Under Section 73, PNP personnel who incur “total permanent physical disability” in the line of duty may be retired or separated depending on years of service. The procedures and standards for disability-benefit claims are governed by implementing rules from the National Police Commission.
As part of the review, Nartatez said the PNP will engage in consultations with the DILG and other security agencies to harmonize disability ratings, medical evaluation standards, and benefit computations across the uniformed services.
Wednesday, December 3, 2025
House committee approves bill to expand tertiary education access through vouchers
By Jovee Marie N. Dela Cruz @joveemarie
THE House Committee on Higher and Technical Education has approved a measure that seeks to amend the Universal Access to Quality Tertiary Education Act (RA 10931) by creating a voucher system for poor and academically qualified students enrolled in private higher education institutions (HEIs) and private technical-vocational schools.
Filed by TINGOG Party-list Reps. Yedda Marie Romualdez, Andrew Julian Romualdez, and Jude Acidre, House Bill 4270 aims to address lingering gaps in the implementation of RA 10931. While the law broadened free tuition and introduced the Tertiary Education Subsidy (TES), many learners who depend on private schools due to distance, limited admission slots, or unavailable programs in public institutions remain disadvantaged. These gaps, the lawmakers stressed, continue to burden low-income families despite the goal of universal access. HB 4270 introduces two key reforms. First, it expands TES coverage to include students in private HEIs located in areas where state or local universities exist but do not offer comparable or equivalent programs. Financial support will continue until the student completes the degree or course, subject to academic standing and residency requirements.
Second, the bill establishes a voucher system to be administered by the UniFAST Board. Vouchers will assist poor and academically qualified students to enroll in—or transfer to—private institutions. Eligibility will be determined before the start of each academic year. The UniFAST Board is also mandated to commission a study within 60 days to determine standard tuition and miscellaneous fee levels in private schools, which will guide the valuation of the vouchers.
During deliberations, the Second Congressional Commission on Education (EDCOM 2) presented data showing a significant drop in the share of the poorest TES beneficiaries—from over 74 percent in Academic Year 2018–2019 to just 30.74 percent in AY 2022–2023. The bulk of subsidies also went to students in areas without state or local universities, highlighting weaknesses in the current targeting system.
EDCOM 2 further reported that only 1.53 percent of Grade 12 completers from 4Ps households received TES assistance for AY 2024–2025, despite being among the intended priority groups.
House Committee Chair and EDCOM 2 Co-Chairperson Acidre said HB 4270 is crafted to correct these inequities.
“We cannot uphold the spirit of universal access while leaving the poorest learners stranded at the gates of opportunity. The data presented to us is clear.
The system must do better at reaching those who need the most assistance. House Bill No. 4270 provides a more equitable, evidence-based approach that ensures support follows the student, whether the available and appropriate program is in a public or private institution,” Acidre said.
He added that strengthening targeting mechanisms and expanding student assistance options is vital to preserving the original intent of RA 10931. “This reform allows us to address the gaps that have emerged over seven years of implementation. It ensures that government support is guided not only by intent but by actual outcomes,” he said.
BARMM graduates 15,000 from 4Ps in ‘Pugay Tagumpay’ ceremonies
DAVAO CITY–The Bangsamoro Autonomous Region in Muslim Mindanao is graduating more than 15,000 from the list of indigents under the central government’s Pantawid Pamilyang Pilipino Program (4Ps), one of the biggest batch by any region at one time.
The Bangsamoro Ministry of Social Services and Development (MSSD) will acknowledge the 15,638 households exiting the cash support system through a series of “Pugay Tagumpay” ceremonies held across the region.
The BARMM is composed of the central Mindanao provinces of Lanao del Sur, Maguindanao del Sur and Maguindanao del Norte and the cities of Cotabato and Marawi, and the southwestern island provinces of Basilan and Tawi-Tawi, and the cities of Basilan and Lamitan.
In Lanao del Sur, the provincial welfare offices of the first and second districts organized events in several towns, recognizing families that achieved self-sufficiency after completing the program, the Bangsamoro Information Office said. The most recent ceremonies were conducted on November 25 in Poona Bayabao and on November 21 in Buadipuso-Buntong and Masiu, both are western lakeside towns of Lake Lanao.
MSSD Minister Raissa Jajurie said the graduating households include 9,266 families exiting due to natural attrition and 6,372 classified as self-sufficient. “All of them went through transition procedures where our municipal links, as case managers, helped craft specific plans to strengthen the families’ resilience against poverty,” she said. Jajurie said Pugay Tagumpay serves as the ministry’s way of recognizing families’ sacrifices and dedication in complying with program conditions, noting that their graduation creates space for new eligible households to enter 4Ps.
Sen. Bong Go urges Filipinos to prioritize health, responsible holiday practices amid Christmas rush
THE holiday season is approaching, and Senator Christopher “Bong”Go appealed to Filipinos to remain cautious as the traditional Christmas rush fills malls, transport hubs, and public venues. He reminded the public that the excitement of celebrations should not overshadow basic health practices that safeguard families and communities.
Go emphasized that the holidays—while a time for gatherings—often bring increased risk of respiratory infections and accidents in crowded spaces. The senator noted that responsible behavior, early planning, and community awareness can prevent avoidable harm.
Masarapmagdiwangkasamaangpamilyaatkaibigan,perohuwagnating kalimutan ang simpleng pag-iingat. ‘Pag may nararamdaman, magpahinga namunaathuwagnangpilitinglumabas.Ingatannatinangsariliatangmga mahalnatinsabuhay.
As Vice Chairperson of the Senate Committee on Health, Go reiterated his call for personal accountability in maintaining well-being. He explained that public health systems often face pressure during high-mobility periods, citing the seasonal increase in consultations and emergency room visits. This concern directly ties into the ongoing health reforms he has championed, including institutional support mechanisms designed to alleviate the financial burden on vulnerable Filipinos.
Go is the principal author and sponsor of Republic Act No. 11463, or the Malasakit Centers Act of 2019, which institutionalized the Malasakit Centers program nationwide. Malasakit Centers are one-stop shops that aim to support impoverished patients in reducing their hospital costs to the lowest possible amount.
December 3, 2025
www.businessmirror.com.ph
PHL heightens efforts to develop animal biotechnology
TBy Ada Pelonia @adapelonia
HE Philippines is ramping up efforts to develop animal biotechnology initiatives to improve productivity and ultimately reduce the country’s reliance on imports, an international agency said.
In a report, the US Department of Agriculture (USDA) said artificial insemination (AI) is the “most widely applied animal biotechnology,” particularly in combination with cryopreser -
Yesterday’s proceedings was the first livestreamed hearing of the ICI following calls for transparency in the conduct of its investigation.
The ICI was created by President Marcos to investigate the multibillion corruption in the govern -
vation, citing the Department of Agriculture’s Livestock Biotechnology Center (LBC).
The agency said this allows critical genetic improvement for productivity with other technologies such as monitoring reproductive hormones, estrus synchronization, and semen sexing for AI efficiency.
“In the Philippine context, there is a growing interest in genetic improvement of local breeds and government and academic initiatives in biotech research,” the USDA said.
ment’s flood control projects.
“I do not personally know the Discaya couple and I do not recall having any transaction with them,” he said. Agarao said he does not know the motive of the Discayas in linking him to the flood control mess.
The Discayas earlier claimed that Agarao was among the lawmakers who solicited money from
Citing the LBC, the international agency said animal biotechnologies in the Philippines are developing rapid animal disease test kits, reproductive biotechnologies, and product development. Research on heat-tolerant livestock is also being studied.
In particular, the USDA said research being carried out by the Philippine Carabao Center (PCC) covers breeding and genetics, biotechnology, nutrition and forage or pasture, animal health, reproductive physiology, management, product development,
their company after they won government contracts.
But Agarao said he had never received nor solicited money from the Discayas or from any other contractor.
Agarao also said he does not meddle in the affairs or projects of the Department of Public Works and Highways in his district nor in the appointment of district engineers. Joel R. San Juan
socio-economics and policy.
“Reproductive technologies are important tools in bringing about desired genetic improvement in livestock species.”
The agency said initial efforts of PCC for the past decade zoned in on upgrading the native buffaloes through AI, since this harnesses the potential of outstanding males or sires.
“The significant accomplishment of PCC through AI is manifested through the proliferation of crossbreds in the country,” the USDA said, noting that it
OSG.
“stands in direct conflict with its own prior position and raises substantial concerns regarding internal consistency, neutrality, and adherence” to the SC resolution granting its withdrawal from participation. Torreon maintained that the Court’s resolution granting the
remains as a widely and extensively used technique in buffalo reproduction.
The USDA also noted that the prospect of using sex-sorted buffalo semen for production of dairy buffaloes was also being pursued.
It added that the sexed-semen could be used together with the various reproductive in vitro techniques for embryo production or used directly for AI to produce female animals for dairy.
“To date, enormous efforts are continually being exerted
OSG’s recusal remains “valid, operative, and unrevoked.”
Furthermore, Torreon said the OSG’s comment confirms that government action related to the ICC is ongoing.
by the DA-PCC to harness the potential of these reproductive biotechnologies in accelerating genetic improvement towards increased productivity of water buffaloes aimed ultimately at improving the lives of millions of farmers in the country,” the USDA said.
Currently, the Philippines has drafted the regulatory framework for genetically engineering (GE) animals, but the policy was yet to be released pending requests to conduct additional sessions of public consultation.
“It acknowledges that the Department of Justice is evaluating all options concerning ICC cooperation. The OSG is noticeably silent on the widely publicized fact that government agents have been processing witnesses who are intended to be presented before the ICC in proceedings involving former President Duterte,” Torreon said.
“This silence creates the impression that the OSG, in a complete turnabout, tolerates, or, at the very least, indirectly sanctions, the Department of Justice’s continued cooperation with the ICC,” he added.
Editor: Angel R. Calso
Fear grips West Bank village as attacks on Palestinians by Israeli settlers surge
TBy Julia Frankel The Associated Press
URMUS AYYA, West Bank—
The fear is palpable in this Palestinian village. It’s clear in how farmers gather their harvests quickly, how they scan the valley for movement, how they dare not stray past certain roads. At any time, they say, armed Israeli settlers could descend.
“In a matter of minutes, they get on their phones. They gather themselves, and they surprise you,” said Yasser Alkam, a Palestinian-American lawyer and farmer from the village of Turmus Ayya. “They hide between the trees. They ambush people and beat them up severely.”
In recent months, Alkam says Turmus Ayya has weathered neardaily attacks by settlers, especially after they set up an outpost that the anti-settlement watchdog group Peace Now says is on his village’s land.
Alkam says he can’t reach his own fields for fear of being assaulted. In a particularly gruesome attack, he watched a settler beat a Palestinian grandmother unconscious with a spiky club.
The fear is shared throughout the West Bank. During October’s olive harvest, settlers across the territory launched an average of eight attacks daily, according to the United Nations humanitarian office, the most since it began collecting data in 2006. The attacks continued in November, with the U.N. recording at least 136 more by Nov. 24.
Israeli authorities have done little beyond issuing occasional condemnations of the violence.
Prime Minister Benjamin Netanyahu described the attackers as a minority that did not represent most settlers in the West Bank. But their continued expansion of outposts—conducted in public with seemingly few legal repercussions—and the violence have cemented a fearful status quo for their Palestinian neighbors.
A brutal assault on a grandmother WHILE driving in fields east of Turmus Ayya on Oct. 19, Alkam saw a Palestinian woman named Afaf Abu Alia, a grandmother from a poorer nearby village called Al-Mughayyir. She was harvesting a grove of olive trees that Turmus Ayya villagers loaned to her after the Israeli military bulldozed her own 500 trees earlier this year, she said.
She worked until she began hearing yelling in Hebrew. Settlers descended on the Palestinian road nearby. Suddenly, one ran toward her with a club.
“The monsters started beating me,” she told The Associated Press three weeks after the attack. “After that, my memories get all blurry.”
Video of the attack obtained by the AP shows a settler beating Alia with the jagged club, even after she was motionless. She was hospitalized for four days, requiring 20 stitches to lacerations on her head, she said.
Asked for comment on the attack, the military said its troops and police had “defused” a confrontation in which Israeli civil -
ians were torching vehicles and using physical violence.
In rare move, Israel charges settler responsible POLICE arrested a man named Ariel Dahari for beating Abu Alia. An Israeli court charged him later with terrorism.
Dahari is being represented by Honenu, an organization that provides legal aid to settlers. According to an article about Dahari on the group’s website, he has received at least 18 administrative orders since 2016 that included house arrest and confinement to his town in Israel.
He told the Israeli news site
Arutz Sheva in 2023 that he had been kicked out of the territory twice. It is not clear how he was able to return.
Palestinians and human rights workers say Israeli soldiers and police routinely fail to prosecute attacks by violent settlers. Their sense of impunity has deepened under Israel’s far-right National Security Minister Itamar BenGvir, a settler, and Defense Minister Israel Katz, who in January released settlers from administrative detention, Israel’s practice of detaining individuals without charge or trial.
The number of investigations opened into settler violence since
2023, Ben-Gvir’s first year in office, has plummeted, according to a report by Israel’s Channel 12 TV that cited official police data. Police opened only 60 investigations into settler violence in 2024, compared with 150 cases in 2023 and 235 cases in 2022, the report said.
Investigations rarely result in indictment or conviction. About 94% of all investigation files opened by Israeli police into settler violence from 2005 to 2024 ended without an indictment, according to Israeli rights group Yesh Din. Since 2005, just 3% of those investigations led to convictions. Dahari told Arutz Sheva that he was determined to stay in the West Bank.
“We will not give up our grip on our land because of one order or another. We will continue to build it and make it flourish everywhere,” he said, adding that he hoped “the security establishment” would “invest all its resources in the war against the Arab enemy, who is the real enemy of us all.”
When reached by the AP, Dahari’s lawyer, Daniel Shimshilashvili, sent a statement from Honenu, saying there was “slim evidence” against Dahari.
Threats are reinforced by settler outposts
THE villagers from Turmus Ayya say it’s not enough to arrest one settler—the threat of violence is
reinforced by the outpost in the nearby valley called Emek Shilo. Emek Shilo was founded this year on private Palestinian land, according to Peace Now, the antisettlement monitoring group. It was started by a well-known settler named Amishav Melet, said three Palestinians living in Turmus Ayya and Yair Dvir, the spokesperson for Israeli rights group B’tselem. On his personal X account, Melet posted videos of the outpost’s construction. Villagers alleged that Melet travels the valley in an all-terrain vehicle, surveilling their activities. He’s frequently armed, they said.
Usually, little more than a few sheds and a pen for livestock, such outposts can impose control on nearby land and water sources. They often turn into authorized settlements, spelling the end of Palestinian communities. Israeli police did not comment when asked about Melet. Abdel Nasser Awwad had to halt construction of a new family home when the outpost was established. In security camera footage he shared with AP, masked figures showed up at the construction site, smashing his truck with a club and appearing to cut piping. He said they have stoned three of his workers.
See “West Bank,” A11
Pope Leo XIV prays at site of 2020 port explosion on last day of trip in Lebanon
By Nicole Winfield, Kareem Chehayeb & Bassem Mroue
The Associated Press
BEIRUT—Pope Leo XIV prayed Tuesday at the site of a deadly 2020 Beirut port explosion that has become a symbol of Lebanon’s dysfunction and official impunity as he offered words of consolation to Lebanon’s people on the final day of his first overseas trip.
Relatives of some of the 218 people killed by the blast held up photos of their loved ones as Leo arrived at the scorched site. They then stood side-by-side as he greeted each one in a line: Leo grasped their hands, spoke to each one and looked at the photos.
The emotional encounter took place next to the shell of the last grain silo standing at the site destroyed by the Aug. 4, 2020 blast and the piles of burned cars torched in its wake. The explosion did billions of dollars in damage as hundreds of tons of ammonium nitrate detonated in a warehouse.
Five years on, these families are still seeking justice. No official has been convicted in a judicial investigation that has been repeatedly obstructed, angering Lebanese for whom the blast was just the latest evidence of impunity after decades of corruption and financial crimes.
“The visit clearly sends the message that the explosion was a crime,” said Cecile Roukoz, whose brother Joseph Roukoz was killed and who was on hand to meet the pope. “There should be a message, the country should end impunity and ensure justice is served.” When he arrived in Lebanon
on Sunday, Leo urged the country’s political leaders to pursue the truth as a means of peace and reconciliation.
An emotional visit to the hospital THE American pope opened his final day in Lebanon with an emotional visit to the De La Croix hospital, which specializes in care for people with psychological problems. Awaiting him were some familiar-looking faces: Young boys dressed up as Swiss Guards and cardinals, and even one dressed as the pope himself in all white.
The mother superior of the congregation that runs the hospital, Mother Marie Makhlouf, was overcome as she welcomed the pope, telling him that her hospital cares for the “forgotten souls, burdened by their loneliness.”
Leo said the facility stands as a reminder to all of humanity. “We cannot forget those who are most fragile. We cannot conceive of a society that races ahead at full speed clinging to the false myths of wellbeing, while at the same time ignoring so many situations of poverty and vulnerability.”
Leo is expected to close his visit with a Mass along the Beirut waterfront before returning to Rome.
Thousands of Lebanese poured into the waterfront site for the Mass and along his motorcade route, overjoyed that a pope had finally managed to visit. Pope Francis had tried for years to come but was stymied first by its economic and political crises, and then by his own health problems.
“For Lebanon, (the visit) means a lot,” said pilgrim Maggie Claudine, who was waiting for Leo at the hospital. “We hope that peace will prevail, and that is what we wish for. We want to live in comfort.”
Families of blast dead seek justice LEO has sought to bring a message of peace to Lebanon as it copes with crises, the aftermath of Hezbollah’s devastating war with Israel and the fallout from the port blast.
Among those on hand to welcome Leo at the blast site was Lebanon Social Affairs Minister Haneen Sayed, whose mother was killed. Another was Mireille Khoury, whose 15-year-old son, Elias, was killed.
Khoury said Lebanon cannot heal from its wounds without justice and accountability. She has been among the relatives who have
called for finalizing the investigation that implicated a long list of political, security and judicial officials.
The families have gathered monthly since the explosion to honor the victims and urge the international community to support the probe into the blast, which has been obstructed by officials who have largely refused to cooperate.
“Justice is the basis of building any country,” she told The Associated Press in an interview before the pope arrived in Lebanon. “Our children were killed in their homes. They were killed because someone kept (ammonium) nitrate in the main port of the city near a residential area.”
Khoury said the pope’s prayer and support would bring some relief, but said she would not give up on her pursuit for justice.
“I will not say that this anger will fully just disappear,” Khoury said. “But I think it will give some sort of relaxation of this anger that is in my heart until justice is served.”
Mroue reported from Jal el-Dib, Lebanon. Associated
journalist Fadi Tawil in Beirut contributed.
Ukrainian soldiers prepare for renewed threat amid uncertain peace negotiations with Russia
By Isobel Koshiw, Vasilisa Stepanenko & Evgeniy Maloletka The Associated Press
NIPROPETROVSK REGION, Ukraine—
DMoving between damp basements and muddy dugouts to fend off constant Russian attacks in the nearly 4-year-old war, exhausted Ukrainian soldiers say their motivation is fortified by knowing they’re fighting for higher cause: the defense of their homeland.
But as negotiators try to hammer out a peace deal, the troops also believe that Russia remains determined to conquer Ukraine—either now, or with a fresh army in a few years’ time—no matter what kind of agreement is reached.
And they also say Kyiv must maintain a sizable military to protect the now-800mile (nearly 1,300-kilometer) front line.
“The Armed Forces of Ukraine are now the main barrier between peaceful civilian life of Ukrainians and our bad neighbor,” said a 40-year-old artillery gunner who spoke to The Associated Press near the border between the Dnipropetrovsk and Donetsk regions. He identified himself only by his call sign of “Kelt,” in keeping with military protocol, and on condition his exact location is not revealed.
The soldiers expressed strong doubts that Moscow can be trusted to abide by any peace deal. Without substantial security guarantees, such as NATO membership for Ukraine, they and military analysts believe a new Russian invasion with fresh troops and equipment is inevitable.
Seeing future Russian threat FROM a dark, mud-walled trench, where he was sheltering to avoid buzzing enemy drones, Kelt fears any peace will be shortlived.
“This truce will be short-term, to restore Russia’s forces—for some three or five years—and they will come back,” said the former furniture salesman from Kyiv as the sound of booming artillery reverberated around him.
Serhii Filimonov, the commander of the Da Vinci Wolves battalion, worried that a deal would give Russia everything it needed to attack again.
“I think it would be nice for the Russians—to end the war, remove the sanctions, prepare for a new war and attack again,” he said. “I don’t believe there can
be peace before Russia is destroyed, or at least the leadership is changed.”
Ukraine’s overstretched manpower
FILIMONOV described how Russian troops had briefly entered the eastern town of Pokrovsk, a key logistics hub in the Donetsk region, but were pushed out. His brigade had managed to hold its stretch of the defensive line but were often let down by neighboring units filled with inexperienced recruits.
The Kremlin on Monday boasted that Russian troops captured the city after more than a year of fighting, but Ukrainian President Volodymyr Zelenskyy said in Paris that fighting was still ongoing. A major breakthrough by Russian forces will depend on Ukraine’s ability to increase and sustain its troop numbers, said American military analyst and academic Rob Lee.
“Ukraine lacks manpower, lacks reserves,” he said. “All it takes is for one Ukrainian brigade to really struggle, and then Russia can advance.”
Taras Chmut, a Ukrainian military expert and fundraiser, told public broadcaster Suspilne on Friday that many battalions on the front are made up of only 20 fighters, instead of the usual 400-800. Even though Ukraine may be mobilizing up to 30,000 recruits per month, many of them find a way out of serving or prove to be unfit to replace front-line troops.
Key sites are still being held NEVERTHELESS , Ukrainian forces are managing to hold their ground in places like Pokrovsk, as well as in Kupiansk and Vovchansk in the Kharkiv region—two sites on the front that Russia has been trying to capture for over a year, said Yurii Fedorenko commander of the Achilles UAV Brigade that is fighting in the area.
Russia has poured tens of thousands of soldiers at the towns, he said, noting that its failure to capture them “testifies to the high motivation and resilience of the Ukrainian army.”
Russian President Vladimir Putin said last week the fighting won’t stop unless Ukraine withdraws troops from the regions of Donetsk, Luhansk, Zaporizhzhia and Kherson—the four provinces Moscow illegally annexed in September 2022.
See “Ukrainian,” A11
AI’s impact could worsen gaps between world’s rich and poor, UN report says
By Elaine Kurtenbach AP Business Writer
BANGKOK—Behind the hoopla over the promise of artificial intelligence lay difficult realities, including how such
technology might affect people already disadvantaged in a datadriven world.
A new report by the United Nations Development Program notes most of the gains from AI are likely to be reaped by wealthy nations unless steps are taken to use its power to help close gaps in access to basic needs, as well as such advanced know-how.
The report released Tuesday likens the situation to the “Great Divergence” of the industrial revolution, when many Western countries saw rapid modernization
while others fell behind.
Questions over how companies and other institutions will use AI are a near universal concern given its potential to change or replace some jobs done by people with computers and robots.
But while much of the attention devoted to AI focuses on productivity, competitiveness and growth, the more important question is what it will mean for human lives, the authors note.
“We tend to overemphasize the role of technology,” said Michael Muthukrishna of the London
School of Economics, the report’s main author, told reporters. “We need to ensure it’s not technology first, but it’s people first,” he said, speaking by video at the report’s launch in Bangkok.
The risk of exclusion is an issue for communities where most people are still struggling to access skills, electric power and internet connectivity, for older people, for people displaced by war, civil conflict and climate disasters. At the same time, such people may be “invisible” in data that will not take them into account, the report said.
“As a general-purpose technology, AI can lift productivity, spark new industries, and help latecomers catch up,” the report says.
“AI systems that analyze poverty, health, and disaster risks enable faster, fairer, and more transparent decisions, turning data into continuous learning and public value,” it says.
Still, even in wealthy nations like the United States, the potential for data centers to devour too large a share of electricity and water has raised concerns. Ramping up power generation to meet higher demand may hinder progress in limiting the emissions of carbon from burning fossil fuels
Better advice on farming, analysis of X-rays within seconds and faster medical diagnoses, more effective weather forecasts and damage assessments hold promise for rural communities and areas prone to natural disasters.
Press
POPE Leo XIV prays at a memorial for the victims of the 2020 Beirut port explosion at the site off the explosion in Beirut, Lebanon, Tuesday, Dec. 2, 2025. AP/FADI TAWIL
The World
Nuclear tensions rise: US, Russia threaten to resume testing, sparking global concern
By Stephanie Liechtenstein
VThe Associated Press
IENNA—The United States and Russia have both recently threatened to resume nuclear testing, alarming the international community and jeopardizing a global norm against such tests.
Experts say these threats from the world’s two largest nuclear powers put pressure on nonproliferation efforts and endanger global peace and security.
“Because of other countries’ testing programs, I have instructed the Department of War to start testing our Nuclear Weapons on an equal basis,” US President Donald Trump said in a post on his Truth Social site at the end of October. “That process will begin immediately.”
Moscow quickly responded.
Russian President Vladimir Putin told his Security Council that should the US or any signatory to the Comprehensive NuclearTest-Ban Treaty conduct nuclear weapons tests, “Russia would be under obligation to take reciprocal measures.”
Here’s is a look at what a resumption of nuclear testing could mean.
The treaty established a norm against nuclear testing CONCERNS about the negative effects of nuclear weapon tests grew in the 1950s when the US and the Soviet Union carried out multiple powerful atomic tests in the atmosphere. As a result, a limited nuclear test ban treaty was negotiated that prohibited such tests but underground tests were still permitted.
Peso depreciation against the US dollar added P58.64 billion to the debt total, while peso appreciation against third currencies provided an offset of P32.54 billion, according to the Treasury.
On a year-on-year basis, the government’s total outstanding debt climbed by 9.62 percent from
Russian troops occupy only half of Zaporizhzhia and Kherson, and two-thirds of Donetsk.
The draft of a US-Russia peace plan stipulated that Ukraine’s army be limited and that Kyiv’s forces must effectively withdraw from the rest of the Donetsk region. Zelenskyy has said since then that a subsequently revised version could be “workable,” but it’s unclear what will be in the final document.
Lee, who regularly visits the front, said Russia is advancing at a faster pace in 2025 than the previous year, but it is not a given that Moscow would capture the remaining third of the Donetsk region in 2026.
“Wherever Russia advances, Ukraine kind of prioritizes defenses (and) they can hold for a long time, but (then) Russia advanced in other directions,” Lee said, describing Moscow’s progress through Donetsk by simultaneously pushing in multiple directions.
Ukraine will still need Western aid FROM his muddy trench, Kelt ridiculed the proposal to reduce the size of Ukraine’s
Renewed international efforts to ban all nuclear tests resulted in the start of negotiations for a comprehensive treaty in 1994, culminating in its adoption by the U.N. General Assembly in 1996.
With 187 states having signed the treaty and 178 having ratified it, most experts believe the treaty has established a norm against atomic testing—even without formally entering into force.
For the treaty to officially take effect, 44 specific states—listed in an annex to the treaty—must ratify it. Nine of them have not yet done so.
China, Egypt, Iran, Israel and the US signed but didn’t ratify it. India, North Korea and Pakistan neither signed nor ratified the treaty. Russia signed and ratified the treaty but revoked its ratification in 2023, saying the imbalance between its ratification and US failure to do so was “unacceptable in the current international situation.”
Alongside the treaty, the Comprehensive Nuclear-Test-Ban Treaty Organization was established in Vienna. It runs a global monitoring network to detect nuclear tests worldwide, operating 307 monitoring stations, using seismic, hydroacoustic, infrasound and radionuclide technologies.
The organization is financed mainly through assessed contributions by its member states. Its budget for 2025 is more than $139 million.
China and India would profit from resuming tests
DARYL KIMBALL , executive director of the Arms Control Association in Washington, said that a resumption of US atomic tests would
P16.020 trillion.
External debt increased by 7.53 percent year-on-year from P4.578 trillion.
This comprised government securities worth P2.817 trillion and loans amounting to P2.698 trillion.
Meanwhile, domestic debt expanded by 10.61 percent year-onyear from P10.889 trillion.
This was largely made up of government-issued securities
military, saying it was tantamount to making it easier for Russia “to kill you” later rather than now.
But sustaining an army of Ukraine’s current size of just over 1 million would be nearly impossible without continued Western support. Since the war began in 2022, Ukraine has spent almost all its tax revenue on feeding, clothing, housing and arming its military. The rest of its expenditures—for health care, social programs, education, pensions and energy—have been financed by Western grants and loans.
The European Union allocated $50 billion in aid from 2024 to 2027 as part of the Ukraine Facility Program, but Kyiv will need $83.4 billion for the military and $52 billion for the rest of the state expenditures for 2026 and 2027, said Glib Buriak, associate professor of economics at the Ukrainian-American Concordia University.
Ukraine’s future finances—including its ability to maintain an army—depends on what the peace plan includes regarding Russia’s frozen assets, said Buriak, noting the risk of a drop in aid if the war ends.
“How they will be managed will determine Ukraine’s financial situation over the coming years,” he said.
Yehor Konovalov contributed reporting.
“open the door for states with less nuclear testing experience to conduct full-scale tests that could help them perfect smaller, lighter warhead designs.”
This would “decrease US and international security,” he said.
Joseph Rodgers, fellow at the Washington-based Center for Strategic and International Studies, said that states such as China or India stand to profit from a resumption of nuclear tests.
“It makes more sense for them to test” than it does for the US or Russia, the two states who have conducted most atomic tests to date, Rodgers said.
The US conducted its last nuclear test in 1992. Since 1996, only 10 nuclear tests have been conducted by three countries: India, Pakistan and North Korea. None of them
(P12.045 trillion) and loans (P160 million).
Peso to hover at P58 levels
ACCORDING to Japanese lender
Mitsubishi UFJ Financial Group (MUFG), the Philippine peso will recover “modestly” to the P58 levels in the first half of 2026, as the Bangko Sentral ng Pilipinas (BSP) maintains a dovish stance and the current account deficit stays wide.
West Bank. . .
Continued from A9
When AP visited the village, groups of settlers were visible around the outpost and a settler tractor patrolled the area.
Drones hummed in the air.
Melet was convicted of assaulting police in 2014, according to court records. In an interview with Israel’s Ynet news in 2015, Melet said he had received administrative orders barring him
Continued from A10
that contribute to global warming, while also causing health hazards.
The technology raises ethical, privacy and cybersecurity concerns: researchers have found hackers using AI to automate portions of cyberattacks. There also is the problem of deepfakes that can misinform or facilitate criminal activity.
Asian nations including China, Japan, South Korea and Singapore
have signed or ratified the treaty
The vast majority of nuclear tests—approximately 2,000—occurred before 1996, mostly by the US and Soviet Union.
The organization creates ‘confidence’
GIVEN the uncertainty around Trump’s announcement and the potential for escalation of tensions around the issue, the test ban treaty organization could play a role in resolving the situation.
Rodgers said that the treaty organization is primarily a scientific one and should focus on providing scientific data to the international community.
But Kimball disagrees, suggesting the organization’s Executive Secretary Robert Floyd could “take the initiative and bring together”
In its outlook, MUFG said government spending, including in public infrastructure, is one key driver behind the peso’s underperformance despite a weaker dollar.
This, it explained, has had an impact “on capital inflows such as into the equity markets.”
“Based on past experience of corruption cases in the Philippines, we think government spending should pick up next year but fall short of a full improve -
from the West Bank.
In response to questions from the AP, Melet said he was a “peace activist.”
“Any claim against me that I am active or connected to violence or terrorism or any illegal action is a lie and a falsehood!” he wrote.
He called the AP’s questions “part of a cruel and false campaign” against Zionism that “reeks” of antisemitism.
In video from Oct. 20 shared with the AP by Alkam, a man
are well placed to take advantage of AI tools, the report notes, while places like Afghanistan, the Maldives and Myanmar lack skills, reliable power and other resources needed to tap into the computing potential of AI. Inequalities between regions within countries mean some places even in advanced economies are prone to be left behind.
About a quarter of the AsiaPacific region lacks online access, the report says.
If such gaps are not closed, many millions may be excluded from the kinds of devices, digital
officials from the US and other countries to help resolve some uncertainties, such as what type of nuclear tests the US president was referring to in his statement.
Floyd told The Associated Press that in the current situation, he believes his organization’s main role is providing “confidence to states” that they would know if a nuclear weapon explosion occurred “anywhere, anytime.”
The organization’s monitoring network successfully detected all six atomic tests conducted by North Korea between 2006 and 2017, he said.
Not all atomic tests create explosions
THE White House has so far not clarified what kind of tests Trump meant and what other countries he
ment, and as such growth should remain below trend with a still negative output gap,” it said.
The BSP is likely to remain dovish, MUFG said, as softer economic growth, uncertain fiscal impulse and the continued negative output gap persists.
Another 50-basis-point rate cut is also forecasted, as MUFG sees the risk tilted towards more cuts.
“While the infrastructure graft cases are taking up mindshare
who Alkam said was Melet was recorded telling a farmer picking olives to leave. The farmer responded, “The army allowed us to be here today.”
“Where is the army?” the man identified as Melet said. “I am the army.”
Palestinians take defense into their own hands
WHEN settlers descend on Turmus Ayya, the mosque emits a loud siren. Young men dash quickly to the village entrance, forming a
payment systems, digital IDs and education and skills that are required to participate fully in the global economy, falling further behind, said Philip Schellekens, the UNDP’s chief economist for the Asia Pacific. Other risks include misinformation and disinformation, surveillance that violates rights to privacy and systems that can act as “black boxes,” reinforcing biases against minorities or other groups. So, transparency and effective regulations are crucial guardrails for ensuring AI is used in fair and
was referring to in his statement. US Energy Secretary Chris Wright said the new tests would not include nuclear explosions.
Nuclear test explosions banned under the treaty are so-called supercritical tests, where fissile material is compressed to start a self-sustaining nuclear chain reaction that creates an explosion. These tests produce a nuclear yield—the amount of energy released, which defines a weapon’s destructive power. The treaty bans any nuclear explosion with a yield, following a zero-yield standard. In contrast, subcritical nuclear experiments, the ones Wright was referring to, produce no selfsustaining chain reaction and no explosion. Nuclear weapon states, including the US, conduct these experiments routinely without violating the treaty.
Some tests may remain undetected
KIMBALL says hydronuclear tests with extremely small yields conducted underground in metal chambers are “undetectable” by the organization’s monitoring system.
“So that creates what I would say is a verification gap regarding this particular type of extremely low yield explosion,” he said. When the organization’s monitoring system was established in the 1990s, it was designed to detect nuclear explosions of 1 kiloton (1,000 tons of TNT). Floyd said the system actually performs better, detecting explosions below 1 kiloton, at 500 tons of TNT. The nuclear bomb dropped on Hiroshima by the US was approximately 15 kilotons.
now, it’s important to remind ourselves of existing positives for PHP,” MUFG said.
Still, MUFG highlighted several structural positives for the peso, such as strong momentum in renewable energy investments, a robust pipeline of private commitments, gradually stronger domestic demand from easing inflation and interest rates and recent US tariff exemptions on Philippine agricultural exports such as coconuts.
barrier between their families and the settlers.
During the harvest, many villagers brought cameras into the fields, hoping footage showing assaults would help hold settlers accountable.
It’s a far cry from past olive harvests, when families spent all day in the groves, picnicking beneath the trees.
Abu Alia, the grandmother, said nothing will prevent her from returning.
“I’ll be back next year.”
accountable ways, he said.
“We believe we need more balance, less hysteria and hype,” Schellekens said.
AI is becoming essential for modern life, like electricity, roads, and now the internet, so governments need to invest more in digital infrastructure, education and training, fair competition and social protections, the report says.
“The goal,” it says, “is to democratize access to AI so that every country and community can benefit while protecting those most at risk from disruption.”
PHL grapples with ASF as global outbreaks threaten pork supply
THE Philippines’s topography should have deterred the spread of animal diseases, especially considering that logistics is challenging and expensive for transporting goods to the major islands. The challenges posed by inadequate infrastructure in various regions of the country should have mitigated the spread of animal diseases, such as African swine fever, which is lethal to hogs. However, the country’s geographic characteristics were insufficient to shield the domestic hog sector from the significant losses incurred during outbreaks of ASF and avian influenza.
Until now, the Philippines continues to grapple with sporadic outbreaks that prevent the domestic hog sector from increasing output. These outbreaks, which started in 2019, have made pork and other pork products costly, and have prompted the Philippines to turn to foreign sources for its meat requirements. Local traders brought in pork from European countries, such as Germany and Spain, to plug the shortfall created by ASF.
The importation of pork from Europe, which got a boost from the decision of policymakers to reduce tariffs on the commodity, enabled the Philippines to prevent inflation from accelerating in recent years. Unfortunately, sporadic outbreaks in its major sources are posing a threat to global meat trade. Spain, a major supplier of pork to the Philippines, has recently confirmed its first outbreak of ASF in three decades. (See, “PHL set to halt pork imports from Spain,” BusinessMirror , December 2, 2025).
Because of the presence of ASF, the Philippines would have to halt the purchase of pork from Spain, a development that does not bode well for the government’s efforts to make the favorite protein source of Filipinos affordable amid low domestic supply. And even after six years since it was first detected in a hog farm in Luzon, the Philippines has struggled to eliminate the disease. Its search for answers to the ASF problem continues.
That is why the initiatives of international organizations, such as the Food and Agriculture Organization of the United Nations, to control transboundary animal diseases is crucial for countries like the Philippines. Member countries, particularly rich ones, must heed the warning of FAO Director General Qu Dongyu that recent funding cuts risk undermining decades of progress in managing and responding to transboundary animal diseases when global risks are intensifying. Qu noted that the cost of prevention is far lower than the cost inaction. (See, “FAO: Transboundary animal diseases pose urgent threat to global food security,” BusinessMirror , December 1, 2025).
Transboundary animal diseases, such as ASF and avian influenza, could cripple livestock and poultry sectors and threaten food security. Some countries in Southeast Asia have seen two decades ago that bird flu almost wiped out their local poultry sectors and caused raisers to incur huge losses. Sans a coordinated effort to stop the spread of transboundary animal diseases, taming food costs and inflation and cutting poverty would become a monumental task for countries like the Philippines.
Infra and labor
IS.
Mark Villar
THE BUILDER
F infrastructure is the backbone of a progressive economy, the labor sector provides the basic and concrete support necessary to build our nation.
As such, we need to provide stronger protection to our workers, fairer play and sustainable jobs that adapt to a changing climate and economy.
I am pleased to learn that the administration of President Ferdinand Marcos Jr. is tracking on the right direction with a serious overall review of the Labor and Employment Plan (LEP) 2023–2028, the roadmap for decent and productive employment for all Filipinos.
Three years after the official launch of LEP, the midterm review last month assessed the country’s progress in carrying out strategies under the plan. It identified implementation gaps, and refined measures to ensure that programs and services of the Department of Labor and Employment (DOLE) remain responsive to the changing needs of workers, employers and industries.
The midterm review will allow the DOLE to reflect on its achievements, identify areas for improve-
ment and ensure that its strategies truly respond to the realities faced by Filipino workers and enterprises. Times are fast-changing along with our demographics. But the concerns of the labor sector and future workers have essentially remained the same.
The government and the labor sector still focus on key priorities and concerns that matter to workers. The DOLE under LEP has the job of creating more productive and sustainable jobs, promoting fair labor practices and workers’ rights, strengthening social protection and maintaining industrial peace.
The Philippines recently joined world leaders in Doha, Qatar to strengthen its role in global initiatives for fair wages, decent jobs and social protection. These issues continue to shape the lives of Filipino workers and millions around the world.
Protecting our workers and meet-
By Amber Tong
CHINESE vaccine makers are caught in a steep downturn, as intensifying competition pushes prices lower and erodes profits, underscoring the far-reaching deflationary pressure across the world’s second-largest economy.
Two of the country’s biggest vaccine makers—Chongqing Zhifei Biological Products Co and Beijing Wantai Biological Pharmacy Enterprise Co.—posted their first ninemonth losses since going public in 2010 and 2021, respectively. Meanwhile, other vaccine producers reported their weakest quarterly earnings in years, with profits plunging by 36 percent or more.
Those poor results reflect how far prices have collapsed in the absence of demand. Companies have resorted to “buy one, get one free” promotions to lure customers, while one firm in Beijing’s latest city-wide procurement round won a contract to supply 630,000 flu shots at just 5.5 yuan ($0.78) each—down from peaks of around 150 yuan. Once riding high on the Covid-19
boom, China’s vaccine industry now faces a reckoning. Demand has weakened while supply has surged, triggering race-to-the-bottom rivalries reminiscent of those that have plagued other Chinese sectors, from solar panels to consumer goods. After years spent challenging Western dominance in staple vaccines—with hopes of reaping a windfall in the world’s secondlargest pharmaceutical market— homegrown alternatives are instead saddling Chinese vaccine makers with heavy losses.
“Most of the vaccines are experiencing overcapacity,” Bing Zhao, head of equity research at China Renaissance Securities. “Supply is far exceeding demand.”
Falling vaccine prices in China have drawn both fascination and
ing their demand for decent conditions are the best recourse for keeping a healthy balance in the economy. Our workers, after all, are the consumers that will keep our industries humming and drive overall economic growth.
The challenge now is the adoption of policies toward fairness and inclusivity, and sustainability in the world of work, in the words of Labor Undersecretary Warren Miclat. The Philippines, for its part, is aware of international labor standards. The government has initiated efforts to refine the methodology for a family living wage aligned with international standards, strengthen social protection and expand opportunities for decent and green jobs.
The easiest way to satisfy the financial needs of our workers, of course, is to grant them pay hikes. But this is easier said than done. The Philippines has 17 Regional Tripartite Wages and Productivity Boards (RTWPBs) that are reviewing salary standards, taking into consideration the different cost of living criteria in each region.
As I’ve written here before, wage adjustments require careful consideration because of their impact on the total economy. They may discourage business expansion if the increases are steep, or they may result in fewer employment if the business owners find their operations more expensive to sustain.
Mr. Marcos, though, earlier assured our workers the government “hears the call of our workers for better wages.” Workers deserve a break amid rising prices and increased cost of living conditions.
The government, for its part, can ease the overall cost of living through lower prices of goods and services, a wider scope of health insurance benefits and reduced cost of education.
The welfare of the workers is not lost on the government. President Marcos has made that clear in May this year. Government policies, he said, “must reflect a firm belief that the true wealth of the country is not measured in profit, but in the dignity of those who toil for it.” We can look forward for a better labor scenario. Our goal to reduce the unemployment rate in the Philippines as low as possible, for one, has become very attainable, with mega infrastructure projects powering the economy.
The quality of jobs in the Philippines is also on an upward trend, partly fueled by construction spending by both the government and private entities.
In sum, infrastructure and the labor sector are intertwined. They are the key ingredients of economic progress.
For feedback e-mail to senatormarkvillar@ gmail.com or visit our web site: https://markvillar. com.ph
perplexity in local media. One October headline quipped: “This flu season, vaccines are cheaper than Mixue,” referencing the budget bubble tea chain.
Unlike many Western markets, where state or commercial insurance covers a wide range of vaccines, Chinese consumers often pay entirely out of pocket for many common shots. For some, that dynamic places vaccines in the same category of discretionary spending as liquor or clothing.
To draw customers, GSK Plc- and Merck & Co.-distributor Zhifei offered customers one free shot for each shingles and HPV vaccine they buy—a move partly aimed at competing with cheaper domestic rivals.
Noting the severe situation, a vaccine industry association recently urged companies to heed China’s call against “involution”—a term used to describe destructive internal competition—and resist disorderly price wars. While the group stopped short of proposing specific measures to rein in the discounting, its call comes just weeks after China’s top market regulator pledged more cost investigations, price supervision and enforcement actions against rule breakers.
Heightened awareness and need for vaccines during the pandemic drove excitement for the market. Since then, demand has waned as China’s declining birth rate reduces pediatric needs, economic slowdowns push vaccination down the priority list, and overall rates trail developed nations—all compounded by rising global distrust in vaccines.
“Vaccines are moving from a monopolistic competition market See “China,” A13
The steepest discounts have appeared in regional government procurement programs, where companies bid aggressively for large contracts. Wantai and Walvax Biotechnology Co., which produce HPV vaccines competing with Merck’s, have slashed prices by as much as 90 percent over two years. Discounts have also spread to pneumococcal, tetanus and rabies shots.
Genting sets sights on $5.5 billion Las Vegasstyle casino resort after winning NYC permit
By Netty Ismail
GENTING Group won a coveted New York City casino license that will allow the Malaysian conglomerate to transform its Queens slot machines-only facility into a Las Vegas-style $5.5 billion casino resort.
Genting, along with New York Mets owner Steve Cohen and Bally’s Corp., was awarded gambling permits—expected to be issued by December 31—by the state of New York on Monday.
Genting’s Resorts World plans to expand its existing electronic games parlor into the US city’s largest casino with a 500,000-squarefoot gambling floor featuring 800 table games.
The group, helmed by billionaire Lim Kok Thay, is doubling down on its overseas expansion as a resurgence of religious conservatism in the company’s Muslim-majority home market threatens its local casino business and growing gaming competition spreads across Asia. Starting with a single casino built on a jungle hilltop in 1971 by the tycoon’s father and Genting founder Lim Goh Tong, the Malaysian company is now poised to tap into one of the world’s most lucrative gaming markets.
A major New York City casino is expected to generate billions of dollars of new revenue for Genting. Analysts have in recent weeks raised earnings forecasts for Genting Malaysia Bhd., whose Resorts World unit will oversee the New York complex.
Malayan Banking Bhd. expects the listed company’s net profit to reach 1.93 billion ringgit ($467 million) in 2030. That would be a fourfold jump from 2024.
Genting Malaysia’s stock rose as much as 1.7 percent early Tuesday, before paring its gain to 0.4 percent.
Forbidding gambling
THE license comes as Genting’s Malaysia casino faces constraints amid local political headwinds.
Prime Minister Anwar Ibrahim has ruled out approving a second casino in the Southeast Asian country. The opposition Islamic party, which has been growing in influence, vowed to shut down Genting’s casino operations entirely if it wins a key state by early 2028 because gambling is forbidden in the Koran.
“Rising religious conservatism has shrunk the political space for gaming in Malaysia,” said Asrul Hadi Abdullah Sani, a partner at ADA Southeast Asia, a public affairs consultancy. The New York license gives the company “a long-term hedge against Malaysia’s shifting political landscape.”
The conglomerate also operates resorts and casinos in Singapore, the
toward perfect competition,” said Denis Cao, lead healthcare analyst at Sealand Securities. “During this transition period, the prices would keep falling—it’s hard to say when it will bottom out.” Competition could intensify further. At least three new pneumococcal vaccines, five rabies vaccines, six shingles vaccines and seven flu vaccines are currently under review by Chinese regulators, according to its website.
Way out
SOME companies have turned to exports to support future growth, and talked up plans to sell vaccines in Southeast Asia, the Middle East and Latin America. China exported $212 million worth of vaccines for human use in 2024, a 42 percent
DWIZ interview: Exposing graft, rice smuggling, and the threat to Philippine industries
IUK, the Bahamas and Egypt.
A 2013 New York voter referendum permitted as many as seven non-tribal casinos in New York. Four upstate casinos opened years ago.
Three remaining licenses were held for the New York City area.
Hedge fund mogul Cohen submitted an $8 billion casino proposal with partner Hard Rock International. Cohen, who purchased the Mets in 2020, plans to build his Metropolitan Park complex on what’s currently a parking lot next to the team’s baseball stadium in Flushing, Queens.
Bally’s plans to operate a gaming facility at the site of a Bronx golf course previously developed by President Donald Trump.
Resorts World expects to quickly convert its facility next to the Queens Aqueduct racetrack into an integrated resort offering almost 2,000 hotel rooms, a 7,000-seat entertainment venue, a conference center, restaurants and a spa. It plans to open a gambling hall within six months— giving it fast-mover advantage over competitors. The two competing gaming projects could take years to be built from scratch.
Uncontested growth
THE group’s “speed to market” will give Resorts World uncontested growth in the next two years, CGS International analysts Lew Cheng Wei and Prem Jearajasingam wrote in a note at the end of last week.
A US casino will also help Genting counter expanding competition in Asia. New gaming strips are emerging across the region, including the Philippines’ Okada Manila and City of Dreams Manila, Vietnam’s Hoiana, South Korea’s Paradise City, and Japan’s planned MGM Osaka. The new complexes add to Asia’s major gambling centers in Macau and Singapore.
The region’s casino and gambling market is expected to surpass $185 billion by 2033, a doubling from last year, according to a report from analyst firm Research and Markets. Genting is reducing its “geographical concentration risk in Asia and capitalizing on the lucrative international markets,” especially in the US, said Jonathan Tan, an analyst at CreditSights.
Genting Malaysia’s stock has risen almost 60 percent since hitting a 23-year low on April 9. Its other businesses include plantations, energy, oil and gas, property development and biotechnology. With assistance from Tassia Sipahutar/Bloomberg
growth from the previous year, according to data from the China Chamber of Commerce of Medicines & Health Products Importers & Exporters, but still far below the world’s top exporters.
Others highlight a shift to innovative vaccines. CanSino Biologics, after years of losses as its Covid shot waned, has turned a small profit this year thanks to its meningitis vaccine, which has no rivals in China. The shot’s price has stayed the same since becoming available in 2022, and CanSino recently shipped the first batch to Indonesia where it’s been registered.
Still, a market consolidation will be inevitable, with smaller players likely to liquidate or be absorbed by bigger companies, Zhao said.
“If you look at the world’s vaccine companies, there are only a handful of market leaders globally,” he said. “Do we really need that many companies? That’s not necessary.” Bloomberg
MAKE SENSE
WAS invited as a guest commentator on DWIZ News TV this Sunday. During my discussion with news anchor Drew Nacino, we delved deeply into the pervasive and systemic graft and corruption within the government. I referred to these corrupt officials using a striking Filipino phrase—“matatapang ang apog ”—and emphasized that they are perpetrating the gravest crimes against the Filipino people.
I asserted that administrative and criminal charges should be filed against these corrupt officials. However, I cautioned that haste makes waste; the cases must be air-tight and thoroughly studied to ensure that they lead to conviction and imprisonment.
I was asked to respond to former Rep. Zaldy Co’s accusations implicating the First Lady in rice smuggling. I noted that when a person feels cornered, they often resort to attacking. There’s a saying that when your back is against the wall, the best defense in a strong offense. That’s what Zaldy Co is now doing. Furthermore, I emphasized that Zaldy Co’s claim of having gained nothing from the corruption he initiated is greatly unbelievable. The Civil Aviation Authority of the Philippines has identified a total of 13 aircraft, which include planes and helicopters, worth approximately P4.7 billion, registered under his companies such as Misibis Aviation, Hi-Tone Construction Development Corp., and QM Builder.
During our discussion on rice smuggling, I explained that this is a longstanding issue in which I played a role in identifying the kingpin of rice smuggling in the Philippines. In one of the Senate hearings, my testimony revealed that Davidson Bangayan is the same individual as David Tan, the suspected leader of a major rice-smuggling syndicate, which led to Tan’s prosecution. Authorities should monitor him closely and investigate those linked to him, as I am still curious about what happened to the rice-smuggling case against Bangayan, also known as David Tan. Why don’t you look for this guy?
How can Zaldy Co connect the First Lady or the President to rice smuggling? I can confirm that President Marcos is actively combating smuggling. One notable instance involves the illegal importation of palm olein, which unscrupulous
traders have been bringing into the country duty- and tax-free, falsely claiming it’s intended for animal feed production. This issue was brought to light by the Coconut Oil Refiners Association (CORA), where I serve as the lifetime president. Additionally, former House Ways and Means Committee Chair Joey Salceda has highlighted that the government has lost approximately P45 billion in taxes and duties due to these illegal imports over the past six years. Armed with documents provided by my CORA members, I wrote to President Marcos seeking assistance from Malacañang.
Thankfully, President Marcos positively acted on my letter. Through the Presidential Management Staff, he directed the Department of Agriculture to promptly address the issue. I received a copy of the letter from Malacañang addressed to Agriculture Senior Undersecretary Domingo Panganiban. Subsequently, Panganiban and I, along with other officials from the Department of Agriculture, including the head of the Bureau of Animal Industry, held a meeting. This agency had been granting tax exemptions to palm olein importers, ostensibly for use in animal feed. However, it became clear that these palm olein shipments were being rerouted to the market as cooking oil or used as a substitute for coconut oil in biodiesel production. Ultimately, President Marcos ordered a halt to palm olein imports, which is advantageous for our coconut industry.
I was also asked about the effects of the ongoing flood control scandal on Philippine industries. I mentioned that it could deter investments. However, activity in the business sector persists. This means we continue to create jobs: private construction is ongoing, food manufacturing is stable, and other businesses remain active.
I pointed out that this represents
the most serious crime threatening our nation and local industries, even more damaging than smuggling and other illicit trades that harm Philippine manufacturers. For instance, the country once had six tire manufacturers, but due to smuggling, we’re now down to just one, situated in the Clark Freeport Zone. This decline has led to job losses in the tire manufacturing sector and negatively impacted supporting industries, from rubber plantations to midstream suppliers. I also highlighted the Philippine textile industry, which once boasted over 1.5 million spindles. Due to the ongoing smuggling of “ukay-ukay,” the industry now operates with only around 150,000 spindles. Each spindle requires at least 35 workers for 24-hour operations. This raises the question: how many Filipinos have lost their jobs with the decline of our textile industry?
Let me be clear: I am not against importation. In fact, I would encourage the import of certain products, especially if those products are no longer competitive in the local market, as a means of promoting fair competition.
Filipinos should keep in mind the purpose and essence of Republic Act 4653, which prohibits the importation of used clothing into the country. This law aims to protect public health and uphold national dignity. Enacted in 1966, its full title is: “AN ACT TO SAFEGUARD THE HEALTH OF THE PEOPLE AND MAINTAIN THE DIGNITY OF THE NATION BY DECLARING IT A NATIONAL POLICY TO PROHIBIT THE COMMERCIAL IMPORTATION OF TEXTILE ARTICLES COMMONLY KNOWN AS USED CLOTHING AND RAGS.”
The law prohibiting the importation of used or second-hand clothes was established by its framers, who cited concerns for public health and national dignity. The objective was to uphold the nation’s dignity and protect our citizens from practices perceived as undermining the collective well-being and respect of the Filipino people.
The proliferation of these used clothing and similar items, such as second-hand shoes, is harming our local manufacturers. This trend is also leading to a consistent decline in investments within the garments and textile industry. By legalizing ukay-ukay, we undermine legitimate Philippine businesses and industries, ultimately resulting in job losses for Filipino workers. Even Philippine media is also affected because smugglers don’t advertise their products.
In our Sunday discussions on
DWIZ, I highlighted that President Marcos initiated the investigation into the trillion-peso ghost flood control scandal. While some are attempting to connect him to the corruption, it’s clear that he can’t control the actions of people under him. I stressed the importance of the government demonstrating tangible progress in the investigation because the people want to see results. To my surprise, by Monday, President Marcos announced that, under his directive, the Anti-Money Laundering Council had frozen 3,566 bank accounts, 198 insurance policies, 247 motor vehicles, 178 real properties, and 16 e-wallet accounts associated with the flood control corruption. The total value of these assets has reached P11.7 billion, as reported by the council.
The President announced that by late November 2025, 178 properties have been ordered for seizure. Additionally, 247 motor vehicles—including luxury cars—two helicopters, and one airplane have been seized. These actions enable the government to conduct a more comprehensive financial investigation and to ultimately pursue civil forfeiture of the assets. This initiative aims to demonstrate to the public that, in addition to preparing administrative and criminal cases, tangible steps are being taken to recover stolen public funds. The number of seized properties and assets is anticipated to increase as investigations by the AMLC and the Independent Commission for Infrastructure continue. I have dedicated decades to combating smuggling and all forms of illicit trade. As previously mentioned, I reached out to President Bongbong Marcos for assistance with specific cases, such as the smuggling of palm olein. He acknowledged my letters and quickly directed the appropriate agencies to address the issues I raised. I possess all the documents I submitted to the President, along with his responses on file. Therefore, who should the public believe—Zaldy Co’s accusations against the President and the First Lady, or the documents I hold that clearly illustrate the President’s commitment to preventing threats to the Philippine economy? I have complete trust and confidence that President Bongbong Marcos is not involved in the damaging allegations being made against him.
Dr. Jesus Lim Arranza is the Chairman Emeritus of the Federation of Philippine Industries and Fight Illicit Trade; a broad-based, multisectoral movement intended to protect consumers, safeguard government revenues and shield legitimate industries from the ill effects of smuggling.
Ukraine offers to replace growth-linked warrants with bonds
By Daryna Krasnolutska & Volodymyr Verbianyi
UKRAINE started a process to exchange securities linked to economic growth into bonds as it seeks to restructure the terms of $3.2 billion in debt after another round of talks with a group of private creditors.
The government in Kyiv offered to replace the so-called GDP warrants with bonds and cash and expects to close the deal by the end of the year, according to a statement on Monday. The east European nation is looking for ways to preserve financial resources for defending itself against Russia’s full-scale invasion and potential post-war reconstruction.
The offer follows Ukraine’s skipped payment of $665 million on the warrants in June and several attempts to restructure the securities with a group of holders, which include hedge funds Aurelius Capital Management LP and VR Capital Group. The move also comes as the US, Ukraine and its European allies engage in new efforts to prepare a plan for talks with Moscow to end the fighting.
“The GDP-linked warrants have become a source of substantial fiscal risk due to extreme volatility of the war time,” Finance Minister Serhiy Marchenko said. “Without a
restructuring, Ukraine would risk paying billions of dollars resulting from a post-war economic rebound, diverting vital funds away from defense, reconstruction and essential public services.”
The warrants, which mature in 2041, weren’t included in last year’s $20 billion debt restructuring deal due to their complex structure and the potentially large payout from a post-war economic recovery. The securities traded above 93 cents on the dollar on Monday, the highest since December 2021.
In the latest round of talks last week, the two sides made “meaningful progress on a number of the principal commercial and structural elements,” the Finance Ministry said in the statement.
“At the same time, a number of additional points remain under active negotiation between the parties and the Ad Hoc Group and its advisors have not yet reached full agreement on the Invitation or the terms of the
New Securities,” it added.
While the creditors’ committee said it continues “to engage constructively and conscientiously with Ukraine,” it called other debt holders to refrain from voting on the proposal until its further announcement is published on December 4, according to an emailed statement.
“The advisors to the Ad Hoc Group intend to host a webinar for all Warrantholders to explain further the implications of the proposed transaction and the important changes that are required to properly protect Warrantholders’ interests,” the committee said. “In the meantime, a cooperation agreement has been put in place between the Ad Hoc Group and other Warrantholders outside of the Ad Hoc Group who have agreed to work together in connection with the Invitation in order to bring about an agreement which acts in the best interest of Warrantholders.”
The proposal requires the approval of 75 percent of holders. If support were lower, Ukraine would still be able to swap the warrants of holders who back the exchange, according to the statement. Remaining holdouts will receive only bonds and no cash.
Demand for Ukrainian dollar debt initially jumped after Donald Trump’s election as US president on expectations that he will seek to quickly end the war with Russia. But the country’s foreign bonds then erased most of those gains as hopes for a peace deal with Moscow faded.
A recent new diplomatic push revived interest in the Ukraine’s debt and pushed prices up again. The GDP warrants, of which Ukraine itself now owns 20 percent, were designed to reward investors when real economic expansion tops 3 percent in a year. The securities were issued as a sweetener during a 2015 debt restructuring, in which creditors agreed to a combination of maturity extensions and a 20 percent haircut on the face value of the bonds they held. The offered new bonds will carry a coupon that will rise over time, starting at 4 percent since the placement date until February 2027. The coupon will be 5.5 percent from February 2027 until August 2029 and then rise to 7.25 percent until February 2032. The plan marks a “decisive stage” of Ukraine’s debt management efforts and the proposal was based on feedback the country received from market participants, as well as on comments on economics and structure provided by the
Dr. Jesus Lim Arranza
Wednesday, December 3, 2025
2nd Front Page
BusinessMirror
BOC TOLD: EXPEDITE CLEARANCE, DELIVERY OF BALIKBAYAN BOXES
By Reine Juvierre S. Alberto
FINANCE Secretary Frederick
D. Go ordered the Bureau of Customs (BOC) to expedite the clearance and delivery of balikbayan boxes to the families of Overseas Filipino Workers (OFWs).
In a statement on Tuesday, BOC said Go’s priority directive during his first command conference with the bureau is the urgent resolution of pending balikbayan box shipments.
The Finance chief instructed the BOC to act immediately and pledged the DOF’s full support to clear and deliver packages to the families of OFWs.
The BOC being a trillion-peso revenue generating agency, Go said it needs to ensure there are proper facilities, updated systems and adequate resources to fulfill its mandate effectively.
Go also expressed support for efforts to secure funding for a new customs headquarters and other essential operational requirements, as modern infrastructure is crucial to enabling efficient, secure and technology-driven customs services.
Other matters discussed during the conference are organizational improvements, interagency collaboration, policy alignment and administrative reforms to sustain long-term institutional reforms.
The DOF and BOC agreed on
the need for stronger coordination and continuous modernization to meet evolving trade and enforcement demands.
“We deeply appreciate Secretary Go’s leadership and continued support,” Customs Commissioner Ariel F. Nepomuceno said.
The Bureau of Customs remains fully committed to working closely with him, advancing our modernization efforts, and delivering a more transparent, efficient, and service-oriented customs administration for the Filipino people.
The BOC also reported during the meeting its key accomplishments for 2025, such as progress in revenue collection, anti-smuggling operations, trade facilitation and initiatives that strengthen transparency and good governance.
Nepomuceno also outlined the reforms undertaken under his leadership, including measures to enhance operational integrity, upgrade digital systems, improve communication platforms and expand services for stakeholders.
For his part, Go affirmed the DOF’s full support to the BOC as it advances its reform agenda. Go commended the bureau’s ongoing efforts and emphasized the importance of maintaining integrity, efficiency and professionalism in all operations as the agency continues to strengthen border protection, facilitate legitimate trade and enhance public trust.
Peza: With record-low PMI, let’s lobby harder on tariffs
By Andrea E. San Juan @andreasanjuan
THEPhilippine government must persist in lobbying for the reduction of tariffs imposed by Washington, especially on sectors which are not yet tariff-free, in order to “reinvigorate” the local manufacturing sector, among others, according to the Philippine Economic Zone Authority (Peza).
This was one of Peza Director General Tereso O. Panga’s recommendations to the government in addressing the current slowdown in manufacturing.
“The government must also continue to lobby the reduction of tariffs imposed by the US on other sectors, and continue to participate in various free trade agreements and GSP renewals that will continue to open markets for Philippine-made products and at the same time encourage more trade,” Panga told the BusinessMirror in an e-mail.
These measures, combined with predictable regulations and improved logistics, will help “reinvigorate” manufacturing and make the Philippines a more attractive hub for high-value production, the Peza chief also told this paper.
Panga said this after the Philippines’ Purchasing Managers’ Index (PMI) plunged to 47.4 in November this year, the lowest score it posted since August 2021 or during the pandemic when the country’s PMI score was at 46.4.
PMI, the economic gauge which
PHL to replace China as Brazil pork’s top market
By Ada Pelonia @adapelonia
THE Philippines will outstrip China as Brazil’s top export market for pork shipments this year, as African swine fever (ASF) continues to batter domestic production, an international report said. In its latest report, the Food and Agriculture Organization of the United Nations (FAO) said world pig meat trade would inch up by 1.5 percent to 10.2 million metric tons (MMT) in 2025, from the 10 MMT posted in the previous year.
Pork exports would be propelled by Brazil, among the world’s leading producers of the protein source, especially buoyed by the tight supply in the Philippines, whose domestic output remains constrained by recurring ASF outbreaks.
“Global pig meat trade is forecast to rise, driven by higher exports from Brazil, particularly to the Philippines, where ASF-induced domestic supply shortages have boosted import demand.”
With this, the FAO projects that the Philippines will overtake China as Brazil’s top export destination for pork.
This was evident in Philippine pork imports having cornered a fourth of Brazil’s total outbound shipments through September.
“The Philippines is expected to surpass China as Brazil’s primary export destination in 2025, accounting for about one-fourth of its pig meat exports in the first three quarters of the year.”
The international agency forecasts China’s pork imports to slightly dip this year, owing to domestic oversupply of standard fresh cuts, processed pork, and primal cuts.
However, the FAO said this de -
cline would be partially offset by robust demand for offal and specific pig meat products, which continues to support purchases for the processing and foodservice sectors.
“Following higher purchases in the first half of the year, ample domestic supplies and the provisional anti-dumping duties—ranging from 15.6 to 62.4 percent—imposed on pig meat from the European Union in September have curbed import volumes, pending the final outcome of the investigation expected by mid-December 2025.”
measures the health of a country’s manufacturing sector, is a weighted average of the following five indices: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stocks of Purchases (10 percent).
According to S&P Global, the drop in the Philippines’s PMI was reflected in all five components of PMI, with new orders and output having the greatest “negative influences.” (See: https://businessmirror.com.ph/2025/12/02/ phl-factory-index-hits-4-yearlow-in-november-at-47-4/)
After a “zero tariff win” on key agricultural exports to the United States, Trade and Industry Secretary Cristina A. Roque assured other local industries that the Philippine negotiating team is still working on securing favorable deals for industries slapped with the 19-percent reciprocal tariff on USbound goods.
“For those that are anxious about the tariff rate that will be given to the US, it is zero percent tariff. But for those that are in the other industries, rest assured that we are still negotiating and we are still fighting for the different industries
of the Philippines,” the Philippines’ Trade chief said in her speech during the National Exporters’ Week on Tuesday.
Based on data from the Philippine Statistics Authority (PSA), the United States remains to be the Philippines’s top export market, with $11.16 billion. This was followed by Hong Kong, where the Philippines shipped $10 billion in the January to October 2025 period. Japan was the country’s third export market, as the Philippines was able to ship $9.72 billion worth of goods to this country in the 10-month period.
Apart from lobbying for a reduction in tariffs on goods destined for the United States market, Peza said the government must focus on stabilizing the investment climate, reducing the cost of doing business, and ensuring “policy consistency” so that manufacturers can plan their long-term operations with confidence.
“It is equally important to accelerate the development of infrastructure—ports, roads, airports,
See “PMI,” A2
Women’s group backs Cardinal ‘Ambo’ amid Edsa remarks criticism
By Justine Xyrah Garcia
AWOMEN’S advocacy group on Tuesday came to the defense of Kalookan Bishop
Pablo Virgilio Cardinal David, saying the backlash over his Edsa remarks is rooted in a misinterpretation of what he said during the anti-corruption rally.
Every Woman Philippines said David’s comments were a straightforward explanation of the Trillion Peso March organizers’ position and should not be read as an attempt to undermine other protest actions.
The group stressed that David was only clarifying why the coalition chose Edsa for its mobilization and why it has not joined calls being pushed in Luneta. They also said the backlash ignores the context in which the bishop delivered his statement.
“The Trillion Peso March organizers have not reached a consensus on the call of the Luneta group. He was transparent about the organizers’ position, and at the same time equally clear that he respects groups who have already taken that path, even as he candidly and openly expressed his apprehensions about the proposal,” Every Woman Philippines said in a statement.
To recall, David opened his speech on Sunday by asking, “Why are we here at the Edsa People Power Monument on this day? Why here? Why not in Mendiola or Luneta?
He then said the organizers chose Edsa instead of Luneta “because we still do not yet believe in the call of the people who are there right now,” referring to the demand for the resignation of President Ferdinand Marcos Jr. and Vice President Sara Duterte and the creation of a transition council.
The Cardinal also rejected the notion of forming a transition council without clear safeguards, saying, “We reject proposals for a transitional council or revolutionary government because we refuse to turn the Philippines into a banana
republic.”
He also dismissed any military-civilian arrangement. (See: https://businessmirror.com. ph/2025/12/01/church-no-tojunta-revgov-yes-to-reform-vscorruption/).
These remarks prompted criticism from several activists who opted to join the Luneta protest instead.
Among them was Partido Lakas ng Masa chairperson Sonny Melencio, who described David’s statement as “both saddening and alarming.”
Melencio said the bishop’s comments distracted from the broader demand for accountability.
“Instead of condemning the roots of the problem—billions in stolen public funds, ghost projects, and entrenched high-level corruption— the cardinal chose to find fault with the people’s calls for the MarcosDuterte resignation, the broader ‘resign all’ demand, and the proposal for a People’s Transition Council [PTC],” Melencio said in a Facebook post.
Every Woman Philippines said reactions to David overlook the fact that the organizers have not yet reached a consensus on the matter. The group said differences in political strategy should not be treated as disloyalty, and stressed that David’s remarks reflected caution amid an uncertain political landscape.
“The situation is complex and precarious, with various plotters eager to hijack public anger for their own ambitions. In their hands, sweeping resignations and a transition council risk enabling juntas or pseudorevolutionary schemes with no democratic mandate, an extraconstitutional path that could become an escape route for plunderers and dynasties seeking to return under the guise of a reset,” Every Woman Philippines explained.
“For the Trillion Peso March organizers, the tactical calls are clear: hold all the corrupt to account,
Editor: Jennifer A. Ng
Topline aims to raise funds to support expansion plan
By VG Cabuag @villygc
SHAREHOLDERS of listed fuel trader Top Line Business Development Corp. (Topline) approved the reclassification of 800 million unissued common shares into preferred shares.
The shareholders also approved during its special stockholders meeting on Tuesday a proposal to authorize the company’s board to pursue capital-raising activities, such as private placements, follow-on offerings or debt issuances.
“Our growth trajectory is clear and compelling. The issuance of preferred shares provides investors with steady returns through fixed dividends, while allowing us
to strengthen our balance sheet and accelerate our vertical integration strategy. We intend to undertake capital-raising activities, targeting next year, 2026,” Eugene Erik Lim, the company’s chairman, president and CEO, said. Proceeds from the preferred share issuance will “optimize” the company’s supply chain as it commences direct fuel importation through its subsidiary, Topline Logistics and Development Corp.
This initiative is expected to provide better pricing, improve supply stability, capture better margins and enhance efficiency across the company’s fuel businesses, it said.
The company also plans to expand its depot infrastructure and storage capacity to accommodate increased import volumes.
Along with these efforts, it is expected to support the growth of the company’s retail fuel arm, Light Fuels Corp., as it expands its network to improve its market share across the rapidly growing Visayas region.
“These initiatives aim to enhance operational efficiency, reduce landed cost and overall operating costs, and improve our profitability and ultimately creating greater long-term value for our shareholders. We are confident that this direction places Topline in a
stronger strategic position, one that allows us to integrate vertic ally, capture more value from the supply chain, and deliver higher margins and more resilient income streams,” Lim said.
Last July, the Cebu-based listed firm said it expects to post a banner year in 2025 due to the expansion of its fuel retailing business, which grew substantially a few months after the company’s maiden offering at the Philippine Stock Exchange (PSE).
Lim said the company expects both income and revenues to post “a significant growth” because of its fuel retailing business.
“We’re hoping it can be a banner year. From three stations last year, that is, hopefully, 50 stations this year. So, it’s really a banner year in terms of revenue growth or topline growth or income because of the acquisition.”
DOJ indicts Cebu-based firm execs
THE Department of Justice
(DOJ) has indicted two officers of Cebu-based Fergus Inc. for engaging in illegal solicitation of investments from the public, following a complaint filed by the Securities and Exchange Commission (SEC).
In a resolution dated September 29, the DOJ found prima facie evidence, with reasonable certainty of conviction, to charge Fergus President Jefferson M. Acas Jr., and corporate secretary and chief finance officer Rosemarie V. Mayorga, with violations of the Cybercrime Prevention Act.
Unicapital appoints ex-DOF official as managing director
INVESTMENT house Unicapi -
tal Inc. on Tuesday said it appointed former Finance Undersecretary Karen Singson as its new managing director.
Singson brings over two decades of experience spanning global finance, government service and financial technology, a combination of expertise that will be leveraged to enhance Unicapital’s regional competitiveness while staying rooted in its local market foundations.
“Unicapital has a legacy of trusted execution,” Singson said. “Our opportunity now is to broaden our origination pipeline by using technology to help more companies scale their vision.”
Singson served as chief privatization officer and later as undersecretary of the Department of Finance (DOF).
During her tenure, she advised on landmark restructuring and privatization deals, including the recapitalization of United Coconut Planters Bank and the restructuring of Hanjin Shipyard, which secured a $300-million investment from Cerberus Capital.
In investment banking, she was vice president for Philippine coverage at Macquarie Capital, where she led capital markets and mergers and acquisitions advisory across key sectors.
“I am bringing an integrated view of how capital, governance, and innovation can accelerate growth,” Singson said.
“My focus is on bringing institutional-grade advisory and access to capital to the entrepreneurs and companies that power the Philippine economy.”
The case stemmed from the investigation conducted by the National Bureau of Investigation, following the request by Padlan Salvador and Associates on behalf of its Australian clients who claimed to be defrauded by the company.
The NBI sought the assistance of the SEC, which found Fergus to be offering securities in the form of investment contracts through an automated trading software.
“Respondents Mayorga and Acas represented that they market a set of e-books or materials that included a software but there was no proof of said e-books or materials,” the resolution read.
“Instead, Fergus operated as a business process outsourcing entity
In the resolution, state prosecutors upheld the findings of the SEC that Fergus was engaged in selling securities without securing the secondary license necessary to operate as broker and dealer of securities from the SEC.
to encourage customers to earn passive income through an automated trading machine which supposedly has the capability to assess the different financial markets and make the best trading decisions for the customers without them having to do the trading themselves for a minimum investment amount of $250.”
The act constituted investment fraud which refers to any form of deceptive solicitation schemes, including the offering or selling of investment schemes without license from the SEC.
While Fergus was a duly registered corporation with the SEC engaged in providing business process outsourcing services particularly in generating sales and marketing support to clients abroad, its articles of incorporation prohibited the com-
Costco joins firms suing for refunds if Trump’s tariffs fall
COSTCO Wholesale Corp.
joined a fast-growing list of businesses suing the Trump administration to ensure eligibility for refunds if the US Supreme Court strikes down the president’s signature global tariffs policy.
The nation’s biggest warehouse club chain is among dozens of companies to file lawsuits in a US trade court since late October challenging President Donald Trump’s use of an economic emergency powers law to impose the levies, according to court records. It’s one of the biggest corporate players to jump into a fight largely driven this year by small businesses and Democratic state officials.
The Supreme Court heard arguments on Trump’s tariffs on November 5. The justices put the fight on a fast-tracked schedule but didn’t say when they intend to rule. In the meantime, businesses of all sizes have brought cases pressing similar legal claims with the goal of avoiding uncertainty about their eligibility for refunds if the court rules against Trump.
Costco’s lawyers wrote that the complaint, filed on November 28 in the US Court of International Trade, was prompted due to the uncertainty that refunds will be guaranteed for all businesses that have been paying duties if the Supreme Court declares the tariffs unlawful.
The lawsuit doesn’t specify how
much Trump’s tariffs have cost the company to date.
Costco argues that it needs a court intervention immediately because Customs and Border Protection denied its request to extend the schedule for finalizing tariff determinations under Trump’s use of the International Emergency Economic Powers Act. The company says that could jeopardize its ability to seek full refunds in the future.
Costco didn’t immediately respond to requests for comment on Monday.
White House spokesperson Kush Desai said in a statement that, “The economic consequences of the failure to uphold President Trump’s lawful tariffs are enormous and this suit highlights that fact. The White House looks forward to the Supreme Court’s speedy and proper resolution of this matter.”
Skeptical justices
DURING arguments before the Supreme Court last month, key justices appeared skeptical of Trump’s tariffs, which have generated tens of billions of dollars a month. Lower federal courts ruled against the administration in a handful of lawsuits filed early on, but judges have allowed the government to enforce the tariffs until the Supreme Court issues its decision.
The expansive, fast-changing tariff policies have disrupted the retail sector this year, threatening to raise prices of goods and hamper the purchasing power of US consumers who are already cautious following years of inflation.
The impact has been more muted than expected due to exemptions and changes in rates after negotiations, though some items such as electronics and apparel are more expensive compared to a year ago. While retailers have warned that they continue to see higher costs, many big operators have not pursued lawsuits like Costco—making it an outlier.
Costco has said it’s working to mitigate tariffs, which primarily affect its non-food items. It has rerouted some products to non-US markets, ordered more inventory early to get ahead of the levies and purchased from fewer suppliers by consolidating buying. When items get too expensive, it’s changing merchandising altogether. “We’re doing everything we can,” Chief Financial Officer Gary Millerchip said in an interview with Bloomberg News earlier this year. “Whether that’s working with the suppliers to find efficiencies to offset the impact of tariffs, or whether it’s sourcing with them often to different countries.” Bloomberg News
pany to accept or take investments or placements from the public and issue investment contracts. VG Cabuag
Singson, a CFA charterholder and Harvard Business School graduate, provides an integrated view of capital markets forged across international finance centers. Her career began in New York at the investment banking arm of Swiss Re and in the equity research group at Morgan Stanley, followed by buy-side experience covering Global Financials at The Boston Company Asset Management. This global foundation informs her strategic approach, which she later applied in highstakes roles in the Philippines.
At the core of her agenda is the goal of expanding market access for Philippine businesses. She plans to deepen the firm’s engagement with international investors to create more pathways for companies to tap larger and more diverse pools of capital. VG Cabuag
Make everyday count
SALES leadership is about getting your business and your team to consistently move forward and upward. It requires a continuous push towards growth, guided by a set of goals designed to effectually define the type of accomplishments expected within an agreed timeframe. Yet admittedly there are times when things move slowly at best. What do you do during those moments? Do you just stop and throw the towel? Or do you make sure that no matter what, you will make everyday count? Here’s three tips to help you make your everyday count.
Be creative IF one tactic or strategy is no longer working for you, then look for other ways to get the sale. Don’t stop. Many years ago, my team and I were caught in a dilemma. Our sales territories were affected by insurgency concerns which resulted to reduced areas where we can conduct conventional belowthe-line activities. In those limited opportunities, we were pitted against other competing organizations offering better marketing and promo supports. We were outmatched, hence we couldn’t sell. But we refused to give-in and eventually came up with an outof-the-box strategy that allowed the team to generate our highest sales performance. It was indeed a zero to hero experience for us. Through creativity you can turn things around. Look closely at the current market behavioral shifts and find out what they truly need. Remember, when the conventional is no longer working, look towards the magic of the unconventional. Take risks IN order to make everyday count, take risks. Don’t be afraid to fail. And so what if doesn’t work?
Change it afterwards. As Thomas Edison once said after someone remarked about his experimental failures, “I have not failed.
I’ve just found 10,000 ways that won’t work.” As for sales leaders, ask for the sale one more time, and then some. I understand that
the risk of getting a negative response is quite daunting to many. But when you really come to think of it, what’s the worst thing that can happen after a sales rejection? You feel bad, but hey, you’re still alive! In contrast, what’s the worst thing that can happen to you when you cross the street? God forbids, but you can get hit by a fast-moving vehicle and die in the process. But you still cross the street nonetheless. If you can still cross the street knowing that death is a possibility, then surely you can ask for the sale time and again and risk rejections. After all, fortune favors the bold!
Prepare for the next big wave
IF things are not moving as expected, as though the sea suddenly calmed into stillness, then prepare for the next big wave. This is the best time to build your ark—enhance your skills, develop value added services, and explore various platforms to expand your reach. There was a time when I experienced a hiatus in my training business. Instead of letting go, I devoted that time for creative expansion by developing modules after modules, various presentation decks, designing images, and exploring potential opportunities. I focused on improvement because I knew that the next big opportunity will come at the most unexpected time, so I needed to be ready for it. I always believed that if you pray for rain, you should not just bring an umbrella, you ought to dress for it as well. Make everyday count. You can do it, God bless!
Alexey Rola Cajilig is the Founder, President & CEO of ARCWAY Consultancy Inc., and Senior Vice President & COO of EM-CORE DOTNET Inc. He is a Sales Leadership Coach, Strategic Sales Operations Consultant, Christian Motivational Speaker, Human Ecologist and Author of Life is a Classroom, The Effective Seller, Solving the Sales Puzzle and Practical Market Intelligence. He is also the creator of ARCH Styles, a behavioral and personality assessment & discovery tool. If you have questions and suggestions, you may connect with him at https://www.facebook.com/coachlexey and at https://www.linkedin.com/in/alexey-rolacajilig.
AVAO CITY—Durian growers in Mindanao are now enjoying improved market access, higher buying prices, and stronger profitability, according to the Department of Agriculture in Davao Region (DA-11) on Thursday.
In a statement, DA-11 Director Macario Gonzaga said the surge in global demand for premium durian has positioned the Philippine industry as a rising contender in the international market.
His remarks came after the successful conclusion of the 2025 National Durian Industry Summit, held in Davao City on November 25 and 26.
The summit gathered more than 400 participants—including growers, exporters, processors, researchers, investors, and agribusiness leaders—signaling a pivotal moment for the industry.
Gonzaga reaffirmed DA-11’s support for the sector, emphasizing its role in boosting farmers’ incomes and driving regional economic activity.
He noted that the high demand from
YC2 winners take the stage at the inaugural DTI YC2 Creative Fest
THE Young Creatives Challenge Seasons 1 and 2 winners took the stage at the inaugural YC2 Creative Festival, organized by the Department of Trade and Industry (DTI) through the Philippine Creative Industries Development Council Secretariat (PCIDCS) under its Malikhaing Pinoy Program and YC2 initiatives. Held on November 22 and 23 at Samsung Hall, SM Aura Premier, the festival highlighted its mission of empowering emerging Filipino creatives by providing platforms to showcase their talents and works.
In her Opening Remarks, DTI Chief of Staff, Director Lilian G. Salonga, said that the festival sustains the creative momentum of YC2 by celebrating the achievements of its winners, showcasing their stories and works, and inspiring the next generation of creative leaders.
YC2 Songwriting Category winners—Likha from Season 1 and Kervin Kane, Eron & Eithan, and the Himunow Band from Season 2—performed their winning songs on a national stage for the first time during the festival. The event became even more memorable as Kervin Kane fulfilled his dream collabora-
tion with OPM icon Janine Teñoso. Their performance, which brought together a rising young songwriter and one of OPM’s most celebrated voices, featured Teñoso’s well-loved hit “’Di Na Muli,” further reinforcing the festival’s mission of connecting young creatives with established artists in the industry. The festival also featured the winning works of the Top 10 winners from YC2 Seasons 1 and 2 through booths representing the Animation, Game Development, Graphic Novel, Online Content Creation, Playwriting, Screenwriting, Short Story Writing, and Songwriting Catego -
ries, along with a special Malikhaing Pinoy Booth that promoted the Malikhaing Pinoy Registry and the other DTI initiatives for the Philippine creative industries.
Further demonstrating DTI’s support through YC2, the festival offered a first look at the music videos of the YC2 Season 1 Top 3, which form part of their post-competition support from DTI. The music video teasers premiered “Bagasbas” by Likha (Season 1 Songwriting Category 3rd Placer), “Dalawang Guhit” by Burn Piamonte (2nd Placer), and “Lambing” by Rocky (Grand Winner). The production of these music videos reflects YC2’s continued commitment to nurturing and elevating young Filipino creatives beyond the competition stage.
“Here at the Department of Trade and Industry, we stand with you every step of the way. Through the Malikhaing Pinoy Program and YC2, we continue to support our creative industries by providing platforms to showcase your work, protecting your ideas, and helping more young Filipinos turn creativity into meaningful careers,” said Deputy Executive Director Paolo Federico A. Ramos of the DTI Philippine Creative Industries Development Council Secretariat.
The festival culminated in a free concert featuring some of to -
day’s biggest OPM artists—This Band, Over October, Janine Teñoso, and Rico Blanco.
In her Message of Support, Senator Imee R. Marcos reaffirmed the government’s dedication to empowering the youth and strengthening the Philippine creative industries, emphasizing that the future of Filipino culture and creativity lies in the hands of young creatives.
Tagged as the grandest showcase of creativity, YC2 is one of the projects under the Malikhaing Pinoy Program—a flagship initiative of the Philippine government, implemented by the DTI as the Chair of the Philippine Creative Industries Development Council. It is aimed at elevating Filipino creativity and advancing the creative agenda, spotlighting Filipino ta lent, cultural heritage, and ingenuity.
Mindanao ARBO products shine at National Trade Expo
By Jonathan L. Mayuga @jonlmayuga
ARECENT trade expo held in Makati City has strengthened business opportunities for Agrarian Reform Beneficiary Organizations (ARBOs) from Mindanao as the Department of Agrarian Reform (DAR) Davao Region showcased their products to a national market, helping expand their customer base, boost sales potential, and build long-term partnerships.
Held at Glorietta Mall, Makati City, the three-day Mindanao Trade Expo (MTE) 2025 connected Mindanao Micro, Small, and Medium Enterprises (MSMEs) to broader commercial hubs, en -
China has boosted export activity, opening new livelihood opportunities in production, consolidation, transport, and processing.
To further enhance competitiveness, Gonzaga emphasized ongoing efforts like providing high-quality planting materials, post-harvest facilities, and technical assistance to ensure fruit quality meets international standards. Durian Industry Association of Davao City (DIADC) president Emmanuel Belviz reported that the country currently has 23 exporters, most based in the Davao Region, supported by 26 packing houses and 795 registered farms covering 1,811 hectares. “The demand is not a constraint since China’s imports from the Philippines account for less than 1 percent of its total durian import value,” Belviz said. With these developments, Gonzaga committed to further strengthening infrastructure, enhancing market linkages, and preparing farmers to meet global demand—maintaining Davao’s status as the Philippines’ Durian Capital. PNA
abling ARBOs to promote Food and Drug Administration-License to Operate (FDA-LTO) and Certificate of Product Registration (CPR) certified products and other premium goods, while positioning themselves as competitive suppliers.
Carrying the theme “Bridging Mindanao MSMEs to Broader Markets,” the national exhibit highlighted Mindanao’s growing role in advancing inclusive economic growth by linking regional producers with major commercial centers.
Featured ARBOs, including the Biao Agrarian Reform Beneficiaries Cooperative, Rural Improvement Club-Kipalili Elena Aranges, and SARBECO, represented by Chezza Mae Gutang,
drew strong interest from buyers, traders, and potential partners, further boosting market visibility and brand recognition.
More than 80 MSMEs from across Mindanao participated in the expo, offering a wide range of home décor, fashion accessories, novelty items, wellness products, processed foods, and fresh produce.
Livelihood communities, indigenous peoples, cooperatives, farmers’ associations, and young farmers also took part, showcasing the region’s rich cultural diversity and economic potential.
The participation of ARBOs in a major Metro Manila trade event reflects the growing market-readiness of agrarian reform
communities (ARCs). It supports enterprise development, strengthens local value chains, and opens new opportunities for Mindanao farmers to widen their reach and connect with consumers nationwide. With the strong turnout and growing interest generated at the expo, DAR remains committed to championing ARBs and reinforcing their role in the national economy. Empowering ARBOs through trade fairs, enterprise development programs, and continuous capacity building remains central to its mission of uplifting farmers, strengthening rural industries, and ensuring wider recognition of ARBO’s homegrown products across the country.
LU farmers beat pests, find income boost in ‘chichacorn’
By Hilda Austria
ALASIQUI, Pangasinan—
MThe Halog West Producers Cooperative in Tubao, La Union, has addressed losses from pests on its white corn crops by producing “chichacorn” (crunchy white corn snack), which has since become an additional source of income.
Vanessa Mapalo, the cooperative’s secretary and a member, said in an interview Friday that their group of 172 members — mostly farmers and their families—has been producing the crunchy white corn snack since 2009.
“Tubao is abundant with white corn crop and they decided to make the chichacorn since most of their produce encountered losses due to pests or worms,” she said, quoting her statement in Filipino.
The cooperative initially operated as a grocery shop but opted to become a producer with assistance and training from the local and pro -
vincial governments, and national agencies such as the Department of Trade and Industry, the Department of Agriculture and the Department of Agrarian Reform (DAR).
“The members benchmarked in
a chichacorn production and were encouraged to do the same,” she said. In 2014, the cooperative received its Food and Drug Administration license to operate and distribute the product.
Mapalo said the group has grown from a microentrepreneur to a small entrepreneur and hopes to upgrade to a medium entrepreneur in the coming years.
“Our cooperative earned over P1.4 million gross income from the chichacorn production alone,” she said. The group’s clients include Pasalubong Centers and online buyers. She added that they have been joining trade fairs to showcase their product to a wider market.
The members produced 8.5 tons of white corn last year, and over five tons was made into the chichacorn snack, she added.
Mapalo said they have their own processing center with equipment, which was established through the local government unit and DAR, and the cooperative’s 20 percent equity. “We are perfecting making
BSP may require banks, financial instis to report cyberattacks ASAP
By Reine Juvierre Alberto @reine_alberto
THE Bangko Sentral ng Pilipinas (BSP) is proposing to require banks and financial institutions to promptly report cyberattacks and system failures and adopt alternative settlement methods when disruptions hit the peso real-time gross settlement payment system (RTGS-PS).
In a draft memorandum, the BSP is recommending participants of the peso RTGS-PS to conduct a thorough technical investigation when-
ever they encounter issues affecting system access, report generation, transaction monitoring, or receipt of settlement notifications.
ON June 29, 2011, the Financial Executives Institute of the Philippines’s Media Affairs Committee, which I chaired at that time, organized a webinar on the power of social media. That was 14 years ago and, our speaker, Maria Ressa, that time already had shown us how social media can continue to grow as a powerful channel of communications for good or bad. Fast forward to today in 2025, we can see how the power of social media did not only grow at such a fast pace but exponentially! There were around only 970 million users globally in 2011 which is a much smaller portion or around 18 percent of the world’s population. By early this year, the number had significantly grown to over 5.2 billion users, which is around 63.9 percent of the global population! (Source: dreamgrow.com statistics dated 10.2.2025).
This could be a positive impact on human life, or a bane for many people. This all depends on how social media is being used. Decades ago, war is waged using weapons; nowadays, a weapon also being used is social media. The power of social media cannot be underestimated.
We all are familiar with the pros of social media. Some can’t deny that it improves our communication with relatives and friends. We are also able to make new friends. Before, we cannot communicate easily with those who are geographically distant; with social media, with one click of the keyboard we can instantly get in touch with them. Through social media, we can be able to create community of relatives, friends and even acquaintances or new friends sharing the same interests with us, from all over the globe. In fact, in 2025 most people now prefer to share within their community group rather than in news feeds. Further, through the community groups, advocacies such as anti-corruption, social justices, antipolitical dynasties can propel transformation.
Certain advantages could also include information dissemination, educational resource and for me, it provides a lot of self-help content, both personally and professionally. Most of my free time are spent in listening to the preaching and talks by David Jeremiah, Gary Hamrick, Ed Lapiz, Dave Bronner and other famous speakers. My resources in my writings and ideas of my contents, which can also help me in my profession, are also from social media. The likes of TEDx Talks and content by audit and accounting
Incidents of cyberattacks or similar disruptive incidents must be reported to the BSP immediately, while other incidents that remain unresolved for more than two hours must be reported after the two-hour mark.
To ensure uninterrupted settlement operations, banks and financial institutions may enter into bilateral netting arrangements with counterparties.
Bilateral netting refers to the offsetting of obligations between two parties, thereby reducing the number and value of payments or deliveries needed to settle a set of transactions, according to the BSP.
“Participants must have pre-established formal agreements with their identified counterparties in the event that they enter into bilateral netting or paying agent arrange -
BPI,
ments,” the BSP said. They may also appoint paying agents to execute transactions in PhilPaSSplus on their behalf, or invoke the Business Continuity Plans (BCPs). Financial market infrastructures and clearing switch operators may likewise use multilateral netting or implement their joint BCPs with the BSP.
The revised rules also require participants to coordinate closely with the central bank, provide all necessary assistance during incident resolution, and promptly inform regulators once issues have been addressed.
If PhilPaSSplus remains operational but a participant is unable to connect to the system, the institution may send three registered users to the nearest BSP facility to upload transactions.
If travel is not feasible due to emergencies or environmental hazards, the BSP may instead upload the transactions on the participant’s behalf using password-protected files submitted through a secure cloud platform.
However, if PhilPaSSplus becomes unavailable, the central bank will file transactions directly into the BSP General Ledger system and will issue email confirmations once the payments have been posted.
The BSP said the proposed amendments aim to ensure that high-value payments and time-critical transactions continue to be settled even during cyber incidents, connectivity disruptions, or system outages.
The central bank is collecting stakeholder comments until December 12, 2025.
Globe work vs digital banking fraud
THE government capped its final Treasury bonds (T-bonds) auction this year with a full award of its dual-tenor offering amid mixed investor sentiments on locking in long-term rates on inflation and peso deprecation concerns. During Tuesday’s auction, the auction committee fully awarded its tender of both 3-year and 10-year T-bonds.
Total bids for the two tenors amounted to P125.623 billion, or 3.6 times oversubscribed the P35-billion combined offering.
On one hand, the Treasury sold the full P20-billion offering of 3-year T-bonds, which carried a coupon rate of 3.625 percent.
The government IOUs attracted total bids of P59.776 billion, making the auction 2.9 times oversubscribed.
With a remaining term of two years and four months to maturity, the T-bonds’ average yield settled at 5.256 percent. This plunged by 44.2 basis points from the 5.698 percent recorded last October 7, 2025. Yields ranged from a low of 5.250 percent to as high as 5.259 percent.
and health professionals are among the many resources I have.
On the other hand, the cons may include privacy concerns. Without our knowing it, we may be sharing personal and confidential information that could be used by cyber criminals. To address this concern, our firm organized a webinar on data privacy last December 1 with New York–based Data Privacy Expert Severino “Dino” Landingin as our resource speaker.
Another disadvantage of the increasing power of social media is the increasing fake information proliferating in the cyberspace. Victims’ reputation can easily be tarnished with bashings based on fake information.
Sometimes it is a battle of trolls especially during elections or even during times like we have right now where one political group throws verbal trash on another group and vice versa to influence public opinion. There is also the problem of cyberbullying as well as addiction in the use of social media, which can affect mental health. It can be source of distractions that keep us from focusing on some important endeavors, channels of frauds and scams among others. With the rise of artificial intelligence, social media users are estimated to grow to 5.85 billion or to almost 6 billion in 2027 and expected to reach 6.6 billion in 2030 (Source: designrush 2.28.25).
Social media is here to stay. But whether it will have a positive impact in our personal and professional life will depend on how we use it. We should start with ourselves by protecting our mental, physical health and relationships with family and friends from its ill effects. Moreover, we should be a channel for right information and a positive influence in the lives of others by the contents we post and how we use it as a form of communicating with others. We may not be able to control the way others use this powerful tool and we maybe just a dot in the whole universe but several dots making a positive impact will surely be a strong influence in this world we live in.
Wilma Miranda is a business column writer of the Financial Executives Institute of the Philippines, the managing partner of Inventor, Miranda & Associates CPAs, a Board member and former head of the Business Development of Knowledge, Process, System Outsourcing (KPSO). The views expressed herein do not necessarily reflect the opinion of these institutions.
By Lorenz S. Marasigan @lorenzmarasigan
GLOBE Telecom Inc. and Bank of the Philippine Islands (BPI) are developing a proof of concept (POC) for silent network authentication (SNA) technology designed to eliminate one-time password vulnerabilities and strengthen protection against digital banking fraud.
The initiative, conducted under Globe’s anti-fraud platform (“G Verify”), uses real-time network intelligence to verify user identity without requiring text codes or manual input steps.
The technology authenticates customers instantly at the network level, confirming that the person
accessing a banking application is the legitimate account holder. This, however, requires use of cellular data and not wireless-fidelity connection.
“Security and simplicity should always go together. Our collaboration with BPI allows us to validate Silent Network Authentication in realworld banking environments, giving Filipinos the confidence to transact safely,” Globe Vice-President Stella Christine “KD” D. Dizon said.
According to the lender, the sister firms have successfully completed the technical validation of the SNA system, enabling BPI’s test application to interface directly with Globe’s network exposure platform.
BPI Chief Technology Officer Alexander G. Seminiano said the two companies are testing an advanced
authentication approach “that fortifies security while staying completely frictionless.”
The SNA system aims to address growing concerns over OTP-based scams, where fraudsters intercept or trick users into sharing verification codes. By eliminating the SMS step entirely, the technology removes a key vulnerability exploited in phishing and social engineering attacks.
Dizon noted that Globe is engaging other financial institutions and e-commerce platforms to explore broader applications of the networkpowered authentication technology.
She added that the SNA technology shows Globe is harnessing network intelligence and partnerships to deliver digital experiences.
AFTER 13 years of running
South Korea’s largest cryptocurrency exchange, Song Chi-hyung and Kim Hyoung-nyon have cemented their spots among the world’s wealthiest.
Last week the pair agreed to sell their company, Dunamu Inc., to the fintech arm of Naver Corp. in an allstock deal. Song will emerge with a 19 percent stake worth $2.7 billion and Kim with 10 percent, valued at $1.4 billion, according to the Bloomberg Billionaires Index, using the valuation of $13.6 billion for the combined entity that was disclosed in company documents.
The acquisition—one of the largest ever crypto deals—will see Naver add Upbit, South Korea’s most popular digital-assets trading platform, to its suite of other services like search, social media and e-commerce.
Both Upbit and Naver Pay, Naver’s
mobile payment service, rely largely on domestic users, said Douglas Kim of Douglas Research Advisory, who publishes on Smartkarma. But “the merger presents an opportunity to compete globally with overseas fintech firms like PayPal, Stripe and Coinbase,” he added.
South Korea has one of the world’s most active retail crypto markets. More than 18 million Koreans—over one-third of the population—trade digital assets. Daily turnover sometimes surpasses that of its equity market.
Upbit oversees about 70 percent of all domestic crypto trading and accounts for almost 5 percent of global spot trading, up from 1.4 percent in early 2021, according to CoinDesk data.
While that dominance has long set Upbit apart from local rivals, Bithumb has recently narrowed
the gap on the back of an aggressive marketing campaign, which included a zero-fee promotion, and now boasts a market share of about 30 percent. Korbit and Binancebacked Gopax each command less than 1 percent. After booming earlier this year, spurred on by policy wins in the US and greater institutional adoption, Bitcoin and other tokens are now in a weeks-long slump that saw the original cryptocurrency shed 16.7 percent of its value in November. Song and Kim both worked at mobile-payments firm Danal before founding Dunamu in 2012 in Seoul. They secured early backing from Kakao Corp. and Woori Technology Investment. Upbit launched in 2017 and integrated with KakaoTalk, the country’s ubiquitous messaging app, which helped cement its dominance. Bloomberg
As compared to the secondary benchmark rate of 5.339 percent for the same tenor, the average yield of 3-year T-bonds is lower by 8.3 basis points.
According to Michael L. Ricafort, chief economist at the Rizal Commercial Banking Corp. (RCBC), yields on the 3-year T-bonds fell as strong demand, limited government borrowing and expectations of monetary easing supported lower rates.
The Treasury reiterated that there will be no more large borrowings for the rest of the year and only through regular Treasury bills (T-bills) and Tbonds auctions.
On the other hand, the 10-year government securities were fully awarded, as tenders hit P65.847 billion or 4.3 times oversubscribed the P15-billion offering.
The longer-dated debt papers fetched an average rate of 5.876 percent, also down by 1.8 basis points from the previous auction’s 5.894 percent yield.
The rate was also lower than the secondary benchmark rate of 5.946 percent. The tenor had rates ranging from 5.855 percent to 5.880 percent, while its coupon rate stood at 6.375 percent.
As for the 10-year T-bonds, Ricafort said yields slipped amid some market hesitancy to lock in long-term rates due to the peso’s recent weakness, which could raise import costs and inflation.
“[This is] also amid relatively higher long-end bond yields in some developed countries worldwide in recent weeks/months amid concerns over long-term inflation if the Fed becomes more aggressive in cutting rates in the coming months as urged by Trump recently,” added the RCBC executive.
“External risk factors, especially Trump’s higher tariffs, trade wars and protectionist measures that could slow down the world and local economy would warrant monetary easing/accommodative monetary policy measures, alongside fiscal expansion measures,” Ricafort said. Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. has signaled one more 25-basis-point rate cut in the December 11 rate-setting meeting of the Monetary Board.
“I would say it’s possible. Pwede naman,” Remolona told reporters when asked if a rate cut is likely considering the slower-than-expected economic expansion in the third quarter of the year.
The Treasury still has two more T-bill auctions set for this year to sell 91-day, 182-day and 364-day debt papers to raise a total of P42 billion for the government. This year the government aims to borrow a
BMA WINNERS This undated photo shows the winners of the “Sixth Bank Marketing Awards” of the Bank Marketing Association of the Philippines together with Bangko Sentral ng Pilipinas Deputy Governor Bernadette Romulo-Puyat, the BMAP Board of Directors and BMA Judge Reynaldo
LSGH, OCC
introduce point-topoint shuttle service to alleviate traffic
Apoint-to-point shuttle service, dubbed AnimoExpress, was recently launched by the La Salle Green Hills (LSGH) in collaboration with Ortigas Commercial Corp. (OCC) to curb traffic congestion along Ortigas Avenue and ensure safe and efficient transportation for students.
Designated loading and unloading bays are likewise provided by OCC in addition to Think Space, a student holding area within Tiendesitas, Greenhills Mall, and Promenade, aimed at reducing vehicle buildup during class dismissal.
Both the vehicle bays and Think Space, which will exclusively be used to accommodate LSGH’s Grade 7 to 12 students during school days within mall hours after drop-off, are accessible on weekdays except government-declared holidays, class suspensions, and school-mandated breaks.
The loading and unloading bays for the accredited shuttle service of LSGH are open for morning pick-up from 6 am to 7:20 am and dismissal from 10 am to 5 pm. On the other hand, Think Space is available from 10 am to 5 pm.
This mutual pursuit is effective from October 1, 2025 to April 30, 2026 and can be subjected for renewal. It is part of the concrete efforts by LSGH in addressing the heavy traffic in the area while fostering civic responsibility and collaborative initiatives with the community.
The strategic partnership, in cooperation with the Greenhills East Village Association (GEVA), was formalized this October through the ceremonial signing of a Memorandum of Agreement (MOA) between LSGH and OCC, which operates and manages commercial spaces within the Greenhills Shopping Center.
LSGH President Br. Edmundo Fernandez FSC sealed the deal for the Mandaluyong-based school, while Vice President and Head of Ortigas Malls Division Arch. Renee Bacani represented OCC.
School administrators, representatives from the LSGH Parents Association (LSPA), and members of the School Bus Service Operators Group also graced the event.
Other notable attendees include James Candelaria, AVP for Greenhills Mall Operations; Edison Nebrija, commander of the Metropolitan Manila Development Authority (MMDA) Swift Traffic Action Group (STAG); and Dr. Louie Orosa II and Marianne Orosa, representatives from GEVA.
The MOA signing was led by the school’s Safety and Security Office, under the guidance of Head Administrator John Zablan with the aid of Executive Vice President Emmanuel Bautista.
It was hosted by LSGH Vice President for Academics and School Principal Carmela Boncodin.
Right now matters more
MANY people walk through life carrying a quiet but heavy idea that someday everything will fall perfectly into place.
It is the fantasy of a future where all problems are solved, every choice is clear, and happiness arrives as a permanent state. This imagined future feels comforting because it promises certainty and control. Yet it also traps us, because the more tightly we hold on to what is yet to happen, the harder it becomes to appreciate the life that is happening right now.
Letting go of the perfect future is not about giving up dreams. It is about releasing the belief that every step must follow a flawless script. When people cling to that script, they often feel pressure to make every decision the right one. For example, a young professional may postpone taking opportunities because the role is not exactly what they envisioned. A parent may feel guilty whenever family routines fall short of ideal standards. A student may become discouraged because real progress does not look like what they imagined. These experiences show how the perfect future can quietly convince us that real life is not good enough.
The truth is that life rarely moves in a straight line. Plans shift, priorities evolve, and even the best intentions meet unexpected turns. When we accept this, we allow ourselves to grow in ways a perfect script would never permit. One practical way to start is by asking a simple question at the end of each day. Instead of asking if the day was perfect, ask what worked reasonably well. This small shift allows the mind to recognize progress rather than flaws. It trains us to see life in motion rather than as a pass-or-fail test.
Another way to let go of the perfect future is to practice flexible dreaming. Think of a dream as a direction rather than a detailed map. For instance, imagine someone who wants a peaceful life. The fantasy version may picture a quiet home, a stable job, and a predictable routine. In reality, peace may come from learning boundaries, asking for help, or making small adjustments that fit their circumstances. When dreams become directions, people stay open to the many forms fulfillment can take.
It also helps to notice when perfection is disguising fear. Many people delay action because they want conditions to be ideal. They wait for the right moment to switch careers, start a project, or mend a strained relationship. However, the perfect moment rarely announces itself. A helpful practice is to choose one small step that can be taken within the day. It might be sending an email, researching a course, or having a short conversation. Small steps break the illusion that everything must be grand or flawless before change can begin.
Letting go of the perfect future also invites us to reconnect with the present. One practical habit is to commit to a brief daily pause. Sit quietly for a minute
and notice one thing you appreciate. It could be a warm drink, a kind message, or a moment of rest. This simple pause teaches the mind to recognize the goodness that already exists instead of waiting for an ideal version of life that may never arrive.
Another helpful strategy is to observe the stories we tell ourselves. Many people believe they should have achieved certain milestones by a certain age. Others believe that happiness will only come after a major accomplishment. When these stories appear, gently question them. Ask if they are facts or assumptions. Most of the time, they are assumptions shaped by comparison or societal expectations. Rewriting these stories allows people to create futures that reflect their own values rather than unrealistic standards.
Finally, it is important to practice self-compassion. Letting go of the perfect future does not mean settling for less. It means acknowledging that growth includes missteps, delays, and moments of doubt. When someone gives themselves permission to be human, they approach challenges with greater resilience. A helpful exercise is to speak to yourself the way you would speak to a friend and offer encouragement rather than criticism. Celebrate effort rather than flawless results.
The fantasy of the perfect future promises ease but often leads to frustration. The real future is shaped by courage, curiosity, and the willingness to begin even when conditions are not ideal. When people release the need for perfection, they create space for genuine joy. Life becomes less of a magic show and more of an unfolding story. And in that story, the present moment becomes a place worth living, not just a bridge to some imagined someday.
IdeaSpace Cohort 13 spotlights 6 emerging businesses as ‘Startups for the Future’
THE leading early-stage technology incubator and accelerator arm of the MVP Group of Companies, IdeaSpace Foundation successfully spotlighted six high-potential startups from the 13th cohort of its flagship Accelerator Program during its Demo Day on November 19, 2025, at Common Ground, Makati City. With the theme “Startups for the Future,” the latest cohort featured startups that have completed the rigorous three-month program, launched in August, and are now ready to reshape key industries with innovative solutions focused on technology, sustainability, and changing lifestyles.
The program’s culmination served as a pivotal platform for founders to present their scalable ventures to IdeaSpace’s network of partners, investors and industry leaders, marking their entry into the next phase of growth.
The six graduating startups of Cohort 13 are the following: n KaHero: A cloud-based point-of-sale system that empowers small businesses with management tools for sales, inventory, and multiple branches.
secured follow-on investments, and established crucial business-to-business (B2B) collaborations across essential verticals, including banking and financial services.
“IdeaSpace has always been and remains a vital funnel of world-class, early-stage talent to the global community, and we believe the overall future of the Philippine startup ecosystem has never been brighter,” said Rene “Butch” Meily, president of IdeaSpace Foundation
The Accelerator Program will continue to provide the startups with comprehensive support, including mentorship from industry experts, access to IdeaSpace’s extensive network, and guidance on business operations, fundraising strategies, and effective marketing. This continuous program is designed to fast-track the growth of these promising technologybased ventures as they transition to their next funding rounds.
PHOTO BY GABRIEL
PIXEL by Eplayment unveils Charess as its first ambassador
Fintech company
Eplayment has been championing its content aggregation platform, PIXEL, since its launch in 2023. The platform was designed to enable creators to manage their content and maximize monetization through a comprehensive suite of functional creator tools. But more than that, PIXEL has managed to cultivate a community of like-minded people, brought together by their goals in making their creator stories a success.
As the PIXEL community continues to expand, so does PIXEL’s vision for the future of its platform. With new features rolling out in the next year, such as subscriptions and profile customization, PIXEL needed a voice to represent the brand as a whole.
Last November 20, 2025, Charess was officially launched as the brand’s ambassador, with the Eplayment team and other PIXEL Partner Creators introduced alongside her. She is regarded as one of the most prominent and influential figures in the Philippine cosplay scene. Her brand has always centered around authenticity and the
Charess and Eplayment’s Mancom Team
hustle of making it as a cosplay content creator in the Philippines, and alongside her seamless blending of cosplay and gaming in her content, this solidified her as the perfect choice for PIXEL Ambassador.
When asked how it felt to be the face of PIXEL, Charess recounted how she was first approached with the prospect, saying, “I was very excited. I had been a PIXEL user for some time, and it really enabled me to connect even more with my audience, so to be able to represent the platform that helped me expand my community, it was an opportunity I 100 percent wanted to take.”
Karlos Naidas, President and CEO of Eplayment, also expounded on PIXEL as a platform. He said, “The goal is for PIXEL to really be on par with the artist community platforms that we’re familiar with. With Charess on board as our Ambassador and
our new features launching next year, we’re optimistic that this can be achieved soon.” PIXEL also announced that the platform is now available through mobile, ensuring on-the-go and more streamlined access to creators and their content.
Since its launch nearly three years ago, PIXEL’s trajectory has only been upward. Now with Charess at the helm, PIXEL has even more in store for the brand and is targeting new heights for the platform. Let Perez, the Director for Creators & Communities, explained, “The new features and the launching of the mobile app are our way of staying true to our goal of providing creators the tools they need to build their brand and grow their community. Giving the creators the platform for their passion is what it’s always been about, and that is PIXEL’s focus entering the new year.”
Volunteer group ushers in season of renewed faith, hope with ‘MAD Talks Puhon’
AS uncertainty continues to shape the world, I am MAD (Making A Difference) Volunteers Inc. is ushering in a season of renewed faith and hope with the return of its signature “hugot” event, MAD Talks.
Set to take place this December in celebration of National Volunteer Month, the gathering highlights the Philippines’ enduring tradition of volunteerism, charity, and bayanihan, the timeless spirit of helping others without expecting anything in return.
Marking its 15th year, I am MAD will hold MAD Talks Puhon: Faith & Hope in Volunteerism on December 6, 2025 at SM Megamall Cinema 3, made possible through the support of SM Cares, the corporate social responsibility arm of SM Supermalls. The event is officially endorsed by the National Youth Commission and backed by the Mental Health Youth Hub, further strengthening the organization’s mission to empower young volunteers across the country.
This year’s theme embraces “puhon,” a Visayan expression meaning “in God’s perfect time” or “when the time is right.” It reflects the quiet faith behind every act of service and to trust the natural unfolding of their own becoming.
For 15 years, I am MAD has quietly but powerfully shaped the lives of Filipino youth, weaving stories of hope, laughter, tears, and transformation. Formerly known as MAD
Talks Padayon, the organization now evolves into a gentler yet deeper expression of its mission: puhon.
MAD Talks Puhon invites volunteers to trust their God’s unfolding and embrace the moments that are still forming with deep faith and high hopes.
“There’s so much happening in our world right now, and many of us feel the weight of it. But even in uncertain times, we stay committed to doing what we can, right where we are. Every small act matters, because in time, these simple efforts build into real, lasting change. As volunteers, we keep moving forward, anchored in two things: pananampalataya at pag-asa (faith and hope). Malayo pa, pero malayo na, we have a long way to go, but we’ve already come so far—and that steady rhythm of choosing to serve is what we celebrate,” shares Maco Ravanzo, co-founder of I am MAD.
This year’s speakers bring stories shaped by timing, resilience, and grace. Ymari Kristia Pascua, National Youth Commission mental health coach and I am MAD’s resident speaker, will share how her own healing journey grew into a mission of hope. She will be joined by volunteer leaders Heini Borromeo, Wino Dela Cruz, and Kaye Maguddayao, who will each offer insights rooted in service, leadership, and faith.
Together, their narratives form a collective portrait of surrender, purpose, and becoming—a reflection of puhon, and a reminder that transformation often unfolds in the quiet, unseen moments of life.
At its core, MAD Talks Puhon is a reminder that showing up matters most. Trusting one’s timing is not passive waiting, it is the courage to arrive exactly as you are, to release what you cannot control, and to believe that your becoming is already taking shape in God’s perfect time. Volunteerism lives in every Filipino, and every act of service begins with simply showing up.
Admission to MAD Talks Puhon is completely free. I am MAD invites volunteers, dreamers, and everyday heroes to hayaán, to let things be and allow what is meant to unfold, and to embrace the sacred rhythm of service, faith, and timing. Registration is now open at bit.ly/MADTalksPuhon2025.
I am MAD continues its volunteer outreach programs focused on values formation, education, and community-building for children in underserved areas nationwide. To join, support, and be updated, follow fb.com/IamMakingADifference or email iammadph@gmail.com.
Fullerton Health PH Renews Partnership with DM&A Co.
ULLERTON Health Philippines has renewed its contract with Dugenia, Marayan, and Associates Company (DM&A Co.) as its social media agency on record, solidifying a successful collaboration that has elevated the healthcare provider’s digital presence over the past year. The renewed partnership marks a continued commitment to expand Fullerton Health’s reach through strategic content, data-driven campaigns, and a humancentered storytelling approach. These elements have become hallmarks of DM&A Co.’s “Challenge the Usual” philosophy.
Since the beginning of their collaboration, Fullerton Health Philippines’ social media channels have seen significant improvements in audience engagement, content consistency, and campaign performance. Through intentionally crafted posts highlighting preventive healthcare, executive screening services, and patient education, the content has helped position Fullerton Health as a trusted voice in accessible and proactive medical care.
“Our renewed partnership with Fullerton Health is a reaffirmation of our shared vision to not just inform, but influence healthier decisions among Filipinos,” said Michael Dugenia, Chief Executive Officer of DM&A Co. “We’re proud of what we’ve built together and excited to push boundaries even further as we move into the next phase of our collaboration.”
For Fullerton Health PH, the decision to continue with DM&A Co. speaks to the agency’s ability to consistently deliver purposeful content that aligns with its advocacy for proactive health management.
“DM&A Co. has demonstrated a deep understanding of our mission to make preventive care more relatable and approachable,” said Carmie de Leon, Country General Manager of RadLink Philippines Corp. and Executive Health Screening Lead PH at Fullerton Health.
“Their innovative mindset and commitment to crafting meaningful content have allowed us to communicate our services to more Filipinos in impactful ways. Renewing
Hotel Lucky Chinatown lights up Binondo with Christmas Tree Lighting Ceremony
THE spirit of Christmas shone brightly in Binondo recently as Hotel Lucky Chinatown officially lit its grand Christmas tree, unveiling this year’s theme: “Hope All Is Well.” Led by General Manager Geraldine “Gigi” Gaw, the ceremony brought together notable leaders from the City of Manila, the business community, and the tourism sector, marking the start of the hotel’s holiday festivities.
Gracing the celebration were Manila City Mayor Francisco “Isko” Moreno Domagoso, Vice Mayor Chie Atienza, Malaysian Embassy Deputy Chief of Mission Norjufir Nizar Edrus, Federation of Filipino Chinese Chamber of Commerce and Industry Inc. (FFCCCII) Deputy Secretary General Gino Chen, Department of Tourism, Culture and Arts of Manila (DTCAM) Head Cristal Bagatsing, Lucky Chinatown Mall General Manager Nori Mizoguchi, and Megaworld Corporation Senior AVP for Sales and Marketing Kelvin Uy.
The gathering highlighted the importance of unity, goodwill, and shared hope as the city prepares for the most festive season of the year. Standing before the towering Christmas tree adorned with golden ornaments and warm lights, Gaw delivered her heartfelt message about the theme.
“Tonight, as we light this tree, we’re reminded of the simple wish at the heart of the season: hope all is well—in our homes, in our hearts, and in our community,” Gaw said, emphasizing the intention behind the hotel’s Christmas celebration. She added, “This year’s theme is not just a greeting, but a gentle reminder that even in busy times, we must pause and look out for one another. May this tree inspire kindness, compassion, and renewed hope for everyone who walks through our doors.”
Gaw further highlighted the hotel’s commitment to foster connections within the community. “Hotel Lucky Chinatown has always stood as a place of comfort and belonging. As we enter the holiday season, we want our guests and neighbors to feel that this is a home where their well-being matter. We hope this celebration remind everyone that brighter days are always ahead.”
The evening’s program continued with the lighting of the Christmas tree, drawing applause from the crowd as the lights flickered to life, illuminating the hotel lobby in a warm,
Mga
inviting glow. Guests, media representatives, and community partners gathered to witness the symbolic gesture that marked the beginning of Manila’s festive calendar. In his message, Moreno spoke about the significance of the holidays to Filipino culture. “Today we are here, we are going to light up a symbol of giving. Because Christmas is all about giving—love, affection to one another. Let’s show to the world that the longest Christmas in the world is being celebrated in the Philippines,” the mayor said, drawing laughter and cheers from the audience. He continued, “And that one quarter of the year, we always care and show empathy, sympathy, love and concern to one another.”
He also shared a heartfelt wish for the coming year. “I wish there will be peace—for the country, for the city, and for the world in 2026. Let’s continue to pray for each other’s safety and peace,” he added, emphasizing the importance of unity and resilience, especially during the holidays. With its message of hope and togetherness, Hotel Lucky Chinatown’s Tree Lighting celebration successfully captured the essence of the Filipino holiday spirit, reminding everyone that despite challenges, the season remains a time for joy, generosity, and shared warmth.
Sugat na May Ngiti: YPC Unveils Eljay Castro Deldoc’s Bittersweet Works in Telon XI
IN its milestone 20th year, the Biñan Youth Performance Council (YPC), the official theatre group of the City of Biñan, proudly presents the 11th offering of its flagship Telon series: “Mga Kwentong Buhay sa Harap ng Telon XI: Mapanakit - Mga Dulang Bittersweet.”
For two weeks only, from December 4 to 14, 2025, at the Sentrong Pangkultura ng Biñan, audiences are invited to experience three compelling short plays that capture the many faces of love, loss, longing, sacrifice, and healing.
Telon XI features the world premiere of “Ang Liknayan ng Ating Mga Katawan,” a 2023 Palanca-winning play, an intimate and arresting piece that examines the hidden chambers of our bodies and the stories they carry. It will also have the world premiere of “Ilihan at Kalinaw: Ang Lihim na Istorya ng mga Buringkantada,” a haunting and poetic exploration of memory, myth, and unspoken truths of a Bicolano myth and “Ganito Ang Pangarap Kong Kasal,” a tender, incisive work about vows, expectations, and the spaces between what we promise and what we become.
These three offerings, penned by Eljay Castro Deldoc, one of the most perceptive voices in contemporary Philippine theatre, and brought to the stage under the incisive direction of BJ Borja, promise a show of theatrical power: intimate, raw, and resonant.
The production presents a new generation of YPC members who take the stage as actors, bringing fresh energy to YPC’s legacy of excellence and cultural service.
As YPC enters its 20th year, this presentation is more than a show, it is part of the City of Biñan’s official Christmas program, and an invitation to the community to engage in theatre as a living mirror of everyday life.
Since 2006, the “Mga Kwentong Buhay sa Harap ng Telon” series has been YPC’s home for Filipino short plays
that reflect the textures of life in our time. We invite you to join us for a date of reflection, storytelling, and healing. Step into the bittersweet worlds crafted by Eljay Castro
the partnership was a natural choice.”
DM&A Co. Chief Operating Officer Alvin Marayan emphasized that the renewal motivates the team to further elevate campaign storytelling, using a blend of insights, creativity, and cultural relevance.
“When you talk about health, you’re talking about people’s fears, hopes, and daily decisions,” Marayan noted. “Our goal is to keep telling stories that acknowledge this human side while empowering audiences with helpful information. With Fullerton Health’s renewed trust, we’re ready to craft even more resonant and value-driven content.”
The dedicated account team remains intact and more energized than ever, which consists of Maika De Castro, Client Servicing Lead and Account Supervisor; JJ Ibarreta, Head of Content and Strategic Planning Officer; Martin Alcantara, PR Associate; Aira Revilla, Content Writer, and Graphic Artists Joma Unabia and Irish Mendevil.
Together, they will continue to deliver
As Fullerton Health Philippines expands its reach and strengthens partnerships with specialists, hospitals, and diagnostic experts, the continuity of a consistent and compelling digital voice becomes increasingly critical. The renewed engagement with DM&A Co.
In the photo are, from left, DM&A Co. Content Writer Aira Revilla, DM&A Co. Content Head and Strategic Planning Officer Jj Ibarreta, DM&A Co. CEO Michael “Dugie” Dugenia, Country General Manager of RadLink Philippines Corp. and Executive Health Screening Lead PH at Fullerton Health Carmie de Leon, RadLink Philippines Corp. Operations Director Reynalyn Tomada, RadLink Philippines Corp. Senior Marketing Associate Julia Domingo, DM&A Co. Client Servicing Lead Maika De Castro, and DM&A Co. PR Associate Martin Alcantara. optimized multimedia content that supports Fullerton Health’s ongoing digital transformation.
Editor: Tet Andolong
Breaking the glass ceiling in ASEAN real estate
By Rizal Raoul S. Reyes @brownindio
IN a male dominated industry, Lobien Realty Group (LRG) chief executive officer Sheila Lobien has proven she can be on a par with or even better than her male counterparts in the local real estate industry.
In less than a decade, the University of the Philippines alumna has established herself as the face and voice of commercial real estate in the Philippines. Through her leadership, LRG has risen to become one of the country’s most respected real estate advisory firms, standing shoulderto-shoulder with global brokerage companies.
younger generation that success is possible through competence, integrity, and resilience.
A personal milestone LOBIEN has recently been honored with the prestigious ASEAN Women Entrepreneurs Network (AWEN) Award, recognizing her exceptional contributions to entrepreneurship, leadership, and the advancement of women professionals across the ASEAN region. It stands as one of the region’s most respected distinctions for women in business. It celebrates leaders who demonstrate resilience, innovation, and meaningful impact in their industries and communities, qualities that have defined Lobien’s career and leadership. Held during the Pinnacle Entrepreneur Forum in Phnom Penh, Cambodia on November 21, 2025, the ceremony was presided over by H.E. Sun Chanthol, Deputy Prime Minister and Minister of the Council for Development, with nearly 1,000 entrepreneurs and business leaders in attendance.
continue the journey to global excellence. “Just last week, I was with some foreign clients and they shared how very satisfied they were with how LRG serviced their office requirements after months of grueling legwork and negotiations,” says Lobien.
“Women should not be shy in claiming spaces that are deemed off-limits to them—if we need to insist, strive and fight for that inch, we need to do it. Our limit should be our dreams,” Lobien adds.
Speaking to BusinessMirror , Lobien hopes her award should inspire more Filipinas to break more glass ceilings, strive for empowerment and
In less than a decade, the University of the Philippines alumna has transformed the landscape of real estate consultancy in the Philippines. She founded Lobien Realty Group, which quickly rose to stand shoulderto-shoulder with established global brokerage companies.
The milestone is a fitting recogni -
Why topnotch property management matters in a rebounding market
THE Philippine property is starting to see light at the end of the tunnel. Despite property headwinds, we continue to see pockets of opportunities for office and residential segments. Colliers Philippines believes that adequate and topnotch management of office and residential towers is important to sustain the long-term attractiveness and viability of these buildings.
As the market recovers, the success of any property is shaped not only by macroeconomic conditions but also by the capability and commitment of its property management team. Effective management enables a property to achieve heightened tenant demand and this should improve rental rates. Steady rental growth is essential in generating recurring income for landlords and this is crucial given a cyclical Philippine property market.
First impressions matter. From the moment someone enters a property, the standard of care should be evident: clean common areas, well-maintained facilities, and consistent upkeep. Staff and management who treat the property with an ownership mindset set a standard of excellence that creates a positive impression on tenants, fosters tenant confidence, and supports long-term retention. Speaking of retention, it is during a tenant’s occupancy that the professionalism of property management is most clearly demonstrated through responsive communication, efficient operations, seamless processes, and the consistent delivery of organized and exceptional service.
Property integrity
PRESERVING and enhancing a property’s structural and operational integrity is equally essential. Competent and welltrained teams anticipate maintenance needs, schedule preventive work, and maintain full compliance with safety and regulatory standards. Proactive management protects property value, mitigates risk, and positions the property competitively. Data-driven recommendations further drive owners toward investments
that maximize value and enhance tenant experience.
Beyond day-to-day operations, top managers assume a proactive and strategic role. They advise owners and landlords on improvement opportunities, operational efficiencies, and cost saving and sustainability initiatives, while aligning budgets with both short-term needs and long-term goals. This strategic stewardship not only ensures resources are effectively allocated but also prepares the property for future demands and evolving industry standards.
ESG—and why it matters
ONE of the most significant of these evolving standards is sustainability. As the industry places greater emphasis on energy efficiency and ESG compliance, topnotch management plays a major role in implementing green practices and securing certifications. These efforts reduce operating costs, enhance tenant satisfaction, strengthen marketability, and support the owner’s long-term ESG commitments. This same level of diligence extends to how exceptional managers handle reporting and oversight. They provide accurate, timely, and comprehensive reports, from financial statements to operational dashboards, giving owners clear insights to make informed decisions and identify opportunities for continuous improvement. Their careful management of third-party vendors also ascertains quality work, fair negotiations, and consistent performance—resulting in optimized costs and improved results. At the same time, strong documentation, compliance practices, and proactive awareness of regulatory changes protect owners from legal, operational, and reputational risks.
The quality, commitment, and expertise of the property management team significantly influence the property’s performance, marketability, and long-term value. Superior service, strategic guidance, proactive operations, and a genuine commitment to the property’s success elevate every aspect of its performance. For building owners seeking maximum value, investing in topnotch management services is indispensable—especially amid a market poised for a renewed growth.
Globally-recognized property management is crucial COLLIERS Philippines is still hoping for a strong finish for the property sector. Overall, we believe that topnotch property management is crucial in maintaining or even raising property values and that effective and globally-recognized property management plays a pivotal role in resuscitating interest in the Philippine property market.
Property developers and occupants need to be more discerning in navigating through a constantly-evolving property market. In our view, topnotch and worldrenowned property management service is a must have in preserving or even raising properties’ values. More affluent and highquality office and residential buildings are on the check list of major property players, this thriving demand should be completed by round-the-clock and best practices in property management.
tion of Lobien’s remarkable journey as an entrepreneur, a formidable leader in a traditionally male-dominated industry, and a fervent advocate for women's professional advancement across the ASEAN region.
Under her dedicated professional leadership, Lobien’s core team has been instrumental in leasing out a vast amount of office and commercial space in key Philippine business districts. Moreover, Lobien's ability to compete and thrive as the CEO of one of the very few female-led commercial estate brokerages of its stature demonstrates the resilience and high-level capability of women in high-stakes business environments. By building the LRG brand, Lobien’s entrepreneurial success is a powerful narrative, proving that vision and competence transcend gender barriers.
Championing women empowerment in ASEAN
LOBIEN’S contributions extend far beyond the boardroom of LRG. Her most significant impact lies in her active, vocal, and structural efforts to advance the careers and businesses of women professionals, particularly across the ASEAN community.
She challenges the narrative that women must choose between career and family, instead advocating for a work-life balance that recognizes all aspects of a woman's life.
Lobien firmly believes that true empowerment is translating one's strength into service for family, community, and organizational growth. Her own journey, juggling the demanding role of a CEO with personal commitments, serves as a beacon of inspiration, showing the
Lobien is a dedicated leader and adviser in the Management Association of the Philippines (MAP Ph) and the Women Business Council. Crucially, she chairs the Women in Business Committee of the European Chamber of Commerce in the Philippines (ECCP). In this capacity, she actively develops and implements initiatives focused on mentoring and networking; promoting diversity; and creating safe spaces Lobien’s team hails the ASEAN-level award because it crystallizes their belief that they are doing their jobs correctly and with excellence.
“The AWEN award is particularly special for me because of three reasons: it is a regional/ASEAN level award so the probability of being chosen is almost nil because the scope is quite large; it is exclusive for women entrepreneurs which underscores the realization of how hard it is to be an entrepreneur, more so if you are a woman and even more challenging is that the real industry is considered to be a male-dominated business; and it is a recognition, in a way, of my LRG team’s achievements as we have thrived together through thick and thin, including the ill-effects of the pandemic.”
Radisson Hotel Group signs three strategic hotels in the Philippines, introducing a dual brand at SM Mall of Asia and expanding in Santa Rosa
RADISSON Hotel Group has signed three new properties in the Philippines, with SM Hotels and Conventions Corporation strengthening its presence in Metro Manila and Greater Manila and reinforcing the country’s role in the Group’s growth strategy. The signings introduce a dual-branded complex at the SM Mall of Asia and add a new hotel in Santa Rosa’s SM Neo Verde development.
This year, Radisson Hotel Group celebrates 15 years in the Philippines, following the opening of Radisson Blu Hotel Cebu as the Group’s first operating hotel in the country. One hotel has grown into a diversified portfolio of six hotels in operation with 1,436 keys, and fifteen more under development, adding a further 3,090 keys.
Ms. Peggy Angeles, SM Hotels & Conventions Corporation Executive Vice President said; “As SM Hotels and Conventions Corporation (SMHCC) continues to expand its footprint in key growth areas across the Philippines, these three upcoming hotels reflect our commitment to elevating the country’s hospitality landscape through meaningful, future-ready developments.
The dual-brand complex at the SM Mall of Asia and Park Inn by Radisson SM Neo Verde are purposefully designed to meet the evolving needs of business, leisure, and MICE travelers. We are pleased to strengthen our long-standing partnership with Radisson Hotel Group as we seamlessly work together to create integrated destinations that drive tourism, enrich communities, and contribute to national economic growth.”
“SM Mall of Asia and Santa Rosa are high-conviction locations that match our brand ladder and our owners’ ambitions.
The dual brand will serve large-scale events and corporate demand while giving leisure
travelers more choice, and Santa Rosa adds depth to our Greater Manila strategy with a mixed-use address that is set to grow,” said Ramzy Fenianos, Chief Development Officer, Asia Pacific, Radisson Hotel Group.
“We are proud to expand with our trusted partner SM Hotels and Conventions Corporation SMHCC) in the Philippines, a market where we see sustained demand across segments and real momentum for quality conversions and new builds.”
Dual-brand at SM Mall of Asia, opening 2031 AT the heart of the 67-hectare SM Mall of Asia Complex, the new mixed-use hospitality hub will bring together Radisson and Park Inn by Radisson under one address, offering travelers choice across business, meetings and events, and leisure. Radisson Hotel SM Mall of Asia Manila will feature 200 rooms, including 49 suites and a presidential suite. Thoughtfully designed social spaces include a lobby lounge bar, a specialty rooftop bar and restaurant of approximately 160 sqm, and a pool bar. The hotel will deliver a compelling meetings and events proposition with 3,486 sqm of total event space, anchored by a 2,160 sqm ballroom, alongside
The SM Mall of Asia complex continues to anchor large-scale business, trade, and leisure visitation to Metro Manila, while Santa Rosa advances as a Greater Manila hub with enhanced connectivity and mixeduse momentum. Together, the three hotels will broaden choice for travelers, deepen Radisson Hotel Group’s brand presence, and support job creation and tourism growth across the Philippines.
LED by her professional dedication and leadership, LRG CEO Sheila Lobien (fourth from left) inspires her dynamic to pursue excellence.
TBy Josef Ramos
OKYO Olympics bronze medalist Eumir Felix Marcial and fellow pro boxer Weljon Mindoro have the skill set to win gold medals at the Thailand 33rd Southeast Asian Games, according to renowned matchmaker Sean Gibbons.
“ I believe it’s great opportunity for Eumir [Felix Marcial] and [Weljon] Mindoro to fight in the SEA Games to keep them busy while they have is no professional fights until next year,” said Gibbons, president of Hall of Famer Manny Pacquiao’s MP Promotions.
It’s a proud moment when you represent your country and it is also a fantastic opportunity for Eumir and Weljon not only to serve their country, but also to sharpen their overall boxing prowess.”
M arcial is a four-time SEA Games champion in men’s 75-kg (middleweight) category but will be fighting in the 80-kg division in Bangkok.
T he 25-year-old Mindoro, on the other hand, has never fought as an amateur and Thailand will be his SEA Games debut at 75 kgs.
B oth are unbeaten as pros—Marcial with a 7-0 record with four knockouts and Mindoro 15-0-1 win-loss-draw with 15 knockouts.
G ibbons said Marcial and Mindoro could refine their boxing skills set and increase their stamina and quickness in the amateur level where the fights are set for three rounds— both fighters are fighting in eight or more rounds as professionals.
P hilippine Olympic Committee president Abraham Tolentino reached out to Gibbons last August to ask for Marcial and Mindoro’s availability for the SEA Games—he didn’t hesitate for national cause.
“ We would like to thank Mayor [Abraham] Tolentino for the unbelievable support, for helping our boxers to have an opportunity like this, and we are all open to this,” Gibbons said. “Everybody believes that Eumir and Mindoro will do everything what it takes for national pride,” he said. “We believe they will fight for gold for the Filipinos.”
The SEA Games start Tuesday and end on December 20.
PHILIPPINE Olympic Committee (POC) president Abraham “Bambol” Tolentino picked two of the most recognizable and influential athletes in 2025—tennis sensation Alexandra Eala and volleyball pillar Bryan Bagunas—as flag bearers for Team Philippines in the parade of athletes of the opening ceremony of the Thailand 33rd Southeast Asian Games in Bangkok on Tuesday (December 9).
POC names Alex, Bryan flag-bearers in Bangkok
“Popularity aside, Alex and Bryan have made impacts in the global sports community and that makes them the best choice to carry the flag in the SEA Games,” said Tolentino on Tuesday, adding that the Philippines has been assigned a 300-member delegation—that could possibly be trimmed to 200 because of the year-long mourning for Queen Sirikit and the Songkhla disaster—during the march around the Rajamangala National Stadium in the opening ceremony.
The Philippines is fielding close to 1,700 athletes in the SEA Games that programmed 574 events in 50 sports and which will now be played in two main hubs—Bangkok and Chonburi— after Songkhla was written off because of massive flooding.
Eala’s rise in tennis has been close to phenomenal—she’s now the highest-ranked Filipina in Philippine tennis history in the Women’s Tennis Association, having been the first Filipina
to get past the first round of the US Open. B agunas, on the other hand, was the main man of the Alas Pilipinas Men’s Team in the FIVB World Championship last September, spearheading a history victory—over many-time African champion Egypt—in an FIVB competition and was instrumental in that “win that got away” against another Asian powerhouse, Iran.
Tolentino said that the choice for flagbearer or flag-bearers have always been
Tougher assignments ahead for Gilas–Cone
UAM’S done and up next for head coach Tim Cone and Gilas Pilipinas are two strong teams—Asia Cup champion Australia and New Zealand—in the second window of the International Basketball Federation (FIBA) World Cup Asia Qualifiers early next year.
“ I’m hoping Kai [Sotto] will be ready by then,” said Cone after the men’s national team routed Guam anew, 95-71, on Monday night at the Ateneo Blue Eagles gym. Sotto’s 7-foot-2 presence will be much-needed by the No. 37 Filipinos who will face the No. 25 Kiwis in February and the No. 6 Australia in March. Following the rout of Guam, 6-foot9 Japeth Aguilar, who had three points
HOPES and expectations are high for the Philippine women’s softball team—also known as the Blu Girls—when they defend the gold medal in the Thailand 33rd Southeast Asian Games in Thailand. But coach Ana Santiago, who’s in her
in 10 minutes in the game, announced his retirement after serving the national team for 16 years during his homecoming at the Blue Eagles gym.
Australia went 2-0 over New Zealand in their own duel—84-79 and 79-77—in Pool A action of the continental qualifiers for the World Cup in Qatar in 2027.
I just hope that we continue showing this kind of character as we go forward,” Cone said after dismantling the Guamanians. “It’s still a long, long way, but we have our eyes on them.”
We played New Zealand a number of times and we know Australia, we played them in the Asia Cup…I know it is not going to be easy,” Cone added.
A fter scoring 22 points in a lopsided
fifth SEA Games, said the goal remains the same for the Blu Girls, who won the gold medal in the Philippines 2019—but the sport was shelved in consecutive editions in Hanoi 2022 and Cambodia 2023. Even if there was no softball in the last two SEA Games, it’s nothing
87-46 win in Guam lat Friday, Justin Brownlee piled up 20 points along with eight assists and five rebounds while Dwight Ramos added 19 points and Quentin Milloria-Brown had nine points and nine rebounds before Filipino fans.
Six-foot-9 Japeth Aguilar, who had three points in 10 minutes against Guam, meanwhile, announced his retirement after serving the national team for 16 years during his homecoming at the Blue Eagles gym.
For Cone, his big man at Barangay Ginebra San Miguel remains on call.
I keep saying no to Japeth retirement from the national team. I have said no for the last two or three years,” Cone said. “But with Kai Sotto coming back hopefully in February,
less than the gold medal for the team,” Santiago told during Tuesday’s Philippine Sportswriters Association Forum at the Conference Hall of the Rizal Memorial Sports Complex. Since 1979, the Blu Girls have won 11 gold medals in the games.
there is a chance now we can let Japeth retire.”
Sotto’s recovering from an ACL injury.
“ If something happens to one of our bigs and we need another big to step in, we will continue to call him because he is a freak of nature,” Cone said. “At 38 years old, he [Aguilar] still jumps out of the gym. He still plays at an extremely high level.”
Josef Ramos
an important task of the POC and athlete or athletes who have the most impact and inspirational appeal not only to national athletes but to the Filipino youth gain the most premium in the selection.
“ It’s about the inspirational appeal, the motivation and hardwork that reaps accomplishment that make an athlete or athletes the best choice for the chore,” Tolentino said.
TENNIS sensation Alexandra Eala and volleyball strongman Bryan Bagunas get the honor to carry the national colors during the parade of athletes. POC PHOTO
JAPETH AGUILAR announces his retirement after serving the national team for 16 years at his roots—the Blue Eagle Gym. FIBA ASIA PHOTO
