BusinessMirror February 05, 2026

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AFTERmissed growth targets and miscalculated forecast estimates brought about by negative shocks, the Bangko Sentral ng Pilipinas (BSP) alongside the Philippine economic team, should find better ways to capture what’s actually happening on the ground as well as quantify how political/corruption events translate into actual economic behavior.

“I think BSP Governor [Eli] Remolona’s comments suggest their macroeconomic model may need better indicators for capturing governance shocks and confidence effects—essentially better ways to quantify how political/corruption events translate into actual economic behavior,” Ateneo De Manila University

By Justine Xyrah Garcia

OVER a quarter of the Philippines’s total employment is exposed to generative artificial intelligence (GenAI), the highest exposure rate among Association of Southeast Asian Nations (Asean) countries with comparable data.

A new research brief released late Tuesday by the International Labour Organization (ILO) showed that around 27.2 percent of Philippine jobs—or about 12.7 million workers—are potentially affected by GenAI.

This is relatively higher than the 21 to 22 percent exposure recorded in Indonesia, Thailand and Vietnam.

The ILO clarified that GenAI exposure does not necessarily translate to outright job losses, noting that its impact on the Philippine labor market is more likely to come through task transformation within occupations rather than

By Reine Juvierre S. Alberto @reine_alberto

THE Philippines could attain a credit rating upgrade, but it could take the next two to three years as the alleged corruption tied to government-funded flood control projects risks delaying a credit improvement, according to Standard & Poor’s (S&P) Global Ratings.

“The political spillover of alleged corruption related to flood-control projects may slow the credit improvement,” S&P said in a statement.

In November 2025, S&P affirmed the Philippines’s “BBB+” long-term

and “A-2” short-term sovereign investment-grade credit ratings.

An investment-grade credit rating will allow the government to borrow at cheaper costs, freeing up resources for essential services and infrastructure. Likewise, it supports businesses in accessing more affordable financing, supporting expansion and job creation.

Before, S&P said that while the probe into the anomalous flood control projects has intensified political pressure, the credit rater does not foresee the protests leading to political instability.

“The direction of policymaking has not changed, and the govern-

ment remains committed to delivering probusiness and progrowth conditions,” it said.

The government admitted that the flood control corruption scandal has weighed on business and consumer confidence, which impacted the country’s economic growth and posted a disappointing growth of 4.4 percent in 2025.

Still, S&P said its outlook on the Philippines is positive, although a credit rating upgrade could be seen over the next two to three years.

“We see the Philippine sovereign credit metrics strengthening as shrinking fiscal and current account deficits augment sovereign

credit buffers to better support a higher rating over the next two to three years,” it said. The Marcos Jr. administration keeps on pushing for a credit rating upgrade as it reinforces prudent fiscal discipline and keeps inflation under control.

“We still want to get our upgrade. It’s becoming more and more challenging at this moment, but we are not giving up,” Finance Secretary Frederick D. Go said earlier. The Philippines attained an Arating with Stable Outlook from Japan-based Rating and Investment Information Inc. and the

full job replacement.

Only 3.6 percent of total employment falls under the highest exposure category, where the risk of displacement is elevated, the report said, while the majority of exposed jobs are expected to experience changes in work processes and task composition.

“In comparison with the other Asean countries, the sharp difference in potential GenAI exposure in the Philippines reflects the country’s unique labor market characteristics and distinct economic structure underpinned by knowledge-based market services, including the Information Technology and Business Process Management [IT-BPM] industry,” the ILO noted.

The report showed that clerical support workers face the highest GenAI exposure, affecting about 3.5 million jobs.

Of these, 37.8 percent fall under Gradient 4, or the highest exposure category, which the agency

said carries an elevated risk of job displacement due to the high automability of tasks.

GenAI exposure is also elevated among service and sales workers, at 58 percent, although most of these jobs fall under low- to moderateexposure categories.

Of the 1.7 million jobs classified under Gradient-4 exposure, the ILO said vulnerability is concentrated in a limited number of occupations.

These include general and keyboard clerks (985,200), sales workers (271,700), numerical and material recording clerks (237,100), other clerical support workers (101,400), and business and administration professionals and associate professionals (75,600).

GenAI exposure is also not gender-neutral, with jobs held by women facing significantly higher exposure than those held by men.

About 40.3 percent of occupations filled by women are exposed to GenAI, compared with

19.3 percent for men.

The report attributed this gap to women’s greater concentration in clerical support, service and sales occupations, which register higher levels of GenAI exposure.

GenAI exposure likewise varies widely across regions. In Metro Manila, about 2.6 million of jobs (42.4 percent) are exposed to GenAI, reflecting the concentration of IT-BPM firms and other professional services.

Exposure also exceeds 30 percent in Central Luzon and Calabarzon, both of which have emerged as major hubs for business process outsourcing (BPO) and administrative services, the ILO said. By contrast, regions that are more reliant on agriculture and other manual-intensive sectors show significantly lower levels of GenAI exposure. The ILO called for stronger upskilling and

THE Philippines has a strong potential to become a regional leader in transition and adaptation finance, but needs stronger governance to attract investors, according to a unit under the Fitch Group.

In an interview with BusinessMirror, Sustainable Fitch Associate Director Melissa Cheok said one of the risks facing developing economies, including the Philippines, is the transition of hard-to-abate sectors to lower carbon alternatives and being less pollutive. This is where transition finance, or providing financial services to

high-carbon-emitting industries to fund the transition to decarbonization, comes in. However, Cheok said only a few transition-focused financing transactions have been done in the Philippines. “But from my conversations with investors, as well as issuers, it is very clear there’s interest in this space.”

“There is an urgent need to push forward on this front, because in this region, especially in emerging markets, there’s not always very clear opportunities for purely green financing,”

‘Congressmeow’ hit with a second 60-day suspension

By Jovee Marie N. dela Cruz

THE House of Representa-

tives on Wednesday slapped Cavite 4th District Rep. Francisco “Kiko” Barzaga with another 60-day suspension without pay, citing repeated misconduct and defiance of House rules even while he was already under penalty.

In a plenary vote, lawmakers approved—by a vote of 238 in favor, 10 against, and nine abstentions— the recommendation of the House Committee on Ethics and Privileges to further sanction Barzaga for actions deemed damaging to the institution’s integrity.

The new suspension stemmed from findings that Barzaga committed fresh violations of House rules while already serving a prior suspension, in open defiance of a stern warning issued by the chamber.

Committee chair 4Ps Party-list Rep. JC Abalos said the panel found substantial evidence that Barzaga violated Section 141, Rule 20 of the Rules of the House by continuing to post malicious and defamatory content on social media from December 1, 2025 to January 30, 2026. The penalty arose from a privileged speech and complaint filed by Manila Rep. Rolando Valeriano,

who accused Barzaga of openly defying House authority by repeating—and intensifying—the same disorderly conduct for which he had already been sanctioned.

Valeriano cited Barzaga’s social media posts accusing fellow lawmakers of receiving bribes from tycoon Enrique Razon in exchange for political support—allegations the committee found to be reckless, defamatory, and unsupported by evidence.

The complaint also pointed to posts attacking the late Antipolo City Rep. Romeo Acop. Abalos said the panel considered the vilification of a deceased colleague especially reprehensible and incompatible with the dignity and restraint expected of a member of Congress.

“This constitutes a deliberate and reasoned defiance of the authority of the House and its disciplinary process,” Abalos said in sponsoring the report.

Barzaga was earlier suspended for 60 days after the House adopted Committee Report No. 28 on December 1, 2025, which found him liable for disorderly behavior, including posting incendiary content and keeping publicly viewable inappropriate and indecent material, in

violation of House rules and Republic Act No. 6713.

That report carried a clear warning that any repetition of similar misconduct would merit more severe sanctions.

Despite the warning, the committee found that Barzaga continued and escalated the same conduct during the suspension period, using social media accounts identifying him as a sitting congressman.

The House plenary had directed the committee to assess Barzaga’s conduct during his suspension, after which the panel treated the new acts as a continuation of prior misconduct rather than a separate case.

Abalos also noted that Barzaga ignored formal notices to appear before the committee and publicly declared that he would not attend the ethics hearing, prompting the panel to declare him in default.

“The committee will not tolerate conduct that brings itself and the entire House into disgrace and contempt,” Abalos said.

With the adoption of the committee report, Barzaga will again be suspended for 60 days without salaries and allowances. The penalty carries a stern warning that any further repetition of similar misconduct could warrant harsher sanctions, including expulsion from office, under House rules.

Suspended Barzaga posting on Facebook said,“Ok suspended na naman si Congressmeow, can Congress now focus on Economic Recovery and Flood Control Accountability?”

Meanwhile, some lawmakers opposed the move, saying the House Ethics Committee was undermining the will of Cavite voters. In a joint statement, they argued that Barzaga’s mandate comes from the people and that his political speech is protected by the Constitution.

The group said any claims of defamation should be settled in court, not through disciplinary action, and warned against using ethics proceedings to silence dissent. This statement was signed by Reps. Paolo Duterte, Omar Duterte, Isidro Ungab, and Harold Duterte.

(ADMU) economist Leonardo Lanzona Jr. told the BusinessMirror in a Viber message on Wednesday. Lanzona said the BSP may have underestimated how deeply the flood control corruption would damage consumer and investor sentiment.

For his part, Luis F. Dumlao, ADMU economics professor, told this newspaper that the turnout of the fourth quarter gross domestic product (GDP) in 2025 is a “sign of a negative shock not foreseen in standard models,” as he pointed out that multilaterals and private sector forecasts also missed and overestimated growth.

Dumlao explained that construction in both the income and expenditure side may have absorbed the negative shock as these posted contraction in the last three months of 2025.

“Particularly construction in the fourth quarter with -7 percent growth on the Income Side and -10 percent on the Expenditure side,” Dumlao also told this newspaper.

PIDS Senior Research Fellow John Paolo R. Rivera earlier explained that growth was weighed down by delays and underspending in public programs, weaker construction and investment momentum, tight financial conditions, and softer external demand, which together reduced the economy’s usual buffers.

Cheok added.

Cheok identified the energy and utilities industry as a sectoral opportunity, followed by manufacturing, cement, shipping and mining.

The Philippines must also keep up with the momentum and ensure that it is not falling behind on any developments, Cheok said.

“There needs to be a concerted effort made towards helping these companies and these industries find more sustainable, viable ways of operating,” Cheok said. “[In the] longer term, you want to avoid things like carbon lock-in, you want to maintain access to financing, or sustainable financing.”

Local companies need to demonstrate real progress in reducing emissions to maintain investor confidence and long-term access to capital, Cheok said.

“With the way everyone else in the world is operating, companies need to make progress...in order to maintain access to capital,” she added.

To identify whether an economic activity is environmentally and socially sustainable, the Philippines adopts the Sustainable Finance Taxonomy Guidelines.

Under the framework, green projects are eligible for green financing, amber or yellow projects cover transition activities approved by regulators, while red projects are considered too polluting to finance.

Adaptation and resilience financing

AS one of the countries most exposed to natural disasters brought by climate change, the Philippines also has an opportunity in adaptation and resilience financing.

“The Philippines doesn’t have it easy. The country is exposed to typhoons, earthquakes, flooding,” Cheok said.

While adaptation finance has only come to the forefront in recent years, growing with still limited issuances worldwide, Cheok said an emerging market such as the Philippines could benefit from this kind of financing.

But with the recent corruption issue on the government-funded flood control projects, Cheok said governance is crucial.

“Governance is a fundamental factor, among others, that is required to ensure transactions are executed well, especially with regard to monitoring and post-issuance reporting as investors expect transparency and accuracy,” Cheok said. There also needs to be clear reporting as to the projects that are being allocated—if they truly exist—and that the money is going towards the right places, Cheok added. Reine Juvierre S. Alberto

partially embedded in GDP estimates through surveys and statistical adjustments. However, he noted that the bigger issue is “not that informality is excluded but rapid changes in informal activity are hard to measure in real time.”

“So the missing piece is less about the GDP identity and more about data timeliness, high-frequency indicators, and structural shifts that models struggle to capture,” added Rivera. For his part, Jonathan Ravelas, Senior Adviser at Reyes, Tacandong & Co., explained: “What the BSP is really saying is that the economy is moving in ways the traditional models aren’t capturing.”

Ravelas pointed out: “Some real-time indicators—like small business closures, shifts in household spending, and supply- chain bottlenecks—don’t show up fast enough in official data, so the models end up underestimating the slowdown.”

Further, he called the informal economy the “one big blind spot,” describing this type of economy is “huge, it moves quickly, and when people shift to cash-based or offthe-grid activity, it slips under the radar.”

As such, Ravelas said if the country wants forecasts to match reality, “We need to measure what’s actually happening on the ground—not just what appears in the formal GDP numbers.”

Rivera explained to this newspaper how the economic model used by the BSP may not have “captured quickly” some indicators.

“BSP [through the PAMPh] model already uses many standard variables but forecasts can still miss sudden shifts in activity because some high-frequency indicators are incomplete or lagged,” Rivera told this newspaper.

The local think tank’s senior research fellow said examples of this are real-time government disbursement execution (actual project rollout vs. programmed spending), firm-level sentiment and investment delays linked to governance shocks, weather/climate disruption indicators affecting services, agriculture, and mobility.

Rivera added that the model may have missed data on the following: “granular labor market underemployment/hours worked, not just unemployment, high-frequency private consumption proxies [digital payments, retail foot traffic, logistics flows]. “

He pointed out, however, that these indicators are not missing from GDP but these may not be “captured quickly enough in the model.”

Lanzona, meanwhile, pointed out that models just consider corruption and political events as “random errors.”

“However, over the last few years, these have become systemic, creating statistically significant negative effects on the GDP calculations,” added Lanzona.

Informal economy in GDP

MEANWHILE , Rivera said rapid changes in informal activity are also hard to capture in real time, especially during shocks such as typhoons, uncertainty and spending freezes.

Despite this, he underscored that the informal economy is already

In an earlier interview with reporters in Dumaguete City, BSP Governor Eli M. Remolona Jr. signaled that the BSP may have miscalculated its estimate on its forecast for the gross domestic product (GDP) data in the fourth quarter of last year.

“The Q4, when we did our estimate, was worse than expected. This one is even worse than that. So medyo mayroon kaming mali; mayroon kaming hindi na-ano [So, we had some sort of an error, there’s something we didn’t see],” Remolona told reporters on the sidelines of an event for journalists conducted by the central bank every year.

“When the actual data came out, it was even worse. We thought nothing that we didn’t take account of. But it was because we didn’t really have the data on it...There are other things that we missed, to be honest and we have to look more carefully at these other things and use them in our models,” Remolona said. He said the BSP’s policy-making body is using a “big model with 70 equations.”

Upon running the model, Remolona said: “It gave us what we thought were very pessimistic answers. And it turns out they were not pessimistic enough. So we have more homework to do, including gathering more indicators.” (See: https://businessmirror.com. ph/2026/02/02/bsp-has-morehomework-after-disappointing-q4-gdp/)

The BSP governor pointed out that the central bank was looking at a 3.8-percent growth in the fourth quarter but the Philippine Statistics Authority (PSA) reported last week that the Philippine economy grew by only 3 percent in the last three months of last year, pulling full-year growth down to 4.4 percent—the economy’s slowest annual expansion since the 9.5 percent contraction in 2020, and excluding the pandemic period, the weakest growth performance since 2011, when GDP expanded by 3.9 percent.

of 2026. Additionally, the aggressive

Japan Credit Rating Agency, Ltd, while Moody’s maintained its Baa2 rating with a stable outlook.

differentiation of integrated communities (townships) outside Metro Manila, such as those in Cavite, Batangas, and Davao, will continue to shape the provincial landscape,” explained Bondoc.

Meanwhile, the share of the national government’s outstanding debt to the country’s overall economy inched up to 63.2 percent at the end of 2025.

This is the highest debt-to-GDP ratio since the 65.7 percent recorded in 2005.

Outstanding debt of the national government reached a new record high of P17.707 trillion as of end2025, as increased borrowings and the peso’s depreciation pushed its obligations higher.

WESM prices down to ₧3.56/kWh in January

commented Cacho.

EBy Lenie Lectura @llectura

LECTRICITY prices in the Wholesale Electricity Spot Market (WESM) fell by 18.6 percent to P3.56 per kilowatt hour (kWh) in January from P4.38 per kWh a month ago due to improved supply margins brought about by reduced electricity demand and fewer power plant outages.

WESM operator, Independent Electricity Market Operator of the Philippines (Iemop), released on Wednesday data for the period of December 26, 2025 to January 25, 2026, which will be reflected in the power bills of consumers this month.

The system-wide average supply was down by 5.3 percent to 19,152 megawatts (MW) while average demand stood at 12,492MW, which was also lower by 7.1 percent from previous month. These resulted in an increased supply margin of 6,660MW. By region, spot prices in Luzon went up by nine percent to P3.25 per kWh, while those in the Visayas and Mindanao decreased by over

40% to P4.24 per kWh and P4.27/ kWh, respectively.

Supply and demand in Luzon declined to 13,228MW and 8,574MW, respectively. Similarly, demand in Visayas went down to 1,861MW. Supply, likewise, plunged 2,361MW.

In Mindanao, spot market prices dropped 45.5 percent to P4.27 per kWh as supply increased to 3,563MW while demand declined to 2,056MW.

Isidro Cacho, vice president of IEMOP’s trading operations, said during an online briefing, that the results are “good news for the Visayas and Mindanao electric cooperatives and the private DUs [distribution utilities] that are buying from the spot market.”

“The Luzon increase reflects the dynamics of tighter supply margin because of some outages. However, the increase is small and we don’t expect to have a big impact on consumers. In Visayas and Mindanao, prices went down and that’s good news to our Visayas and Mindanao WESM participants,”

For the summer months, the IEMOP official said demand is expected to increase. “Hopefully, it’s not like what we experienced in 2024 when we had extreme heat that really resulted in our demand kicking in. So much so that we had a lot of yellow alerts, red alerts.

“So hopefully, we are seeing an improved supply. We also expect some plants to come in on Luzon, particularly renewable energy capacity in Nueva Ecija,” said Cacho.

For Visayas and Mindanao, Cacho said there will also be additional capacities coming in. “But the challenge we are seeing now, like last January 20, we had a yellow alert in Visayas because there was a tripping incident in Cebu, in Panay… And the result was that we have to import from Luzon, which will have to go through our Leyte-Cebu interconnection. But it’s considered a peak period now,” said Cacho.

WESM is the venue for trading electricity as a commodity.

House leader seeks abolition of air-travel tax

THE House majority leader has filed a bill seeking the immediate abolition of the travel tax, saying the levy has outlived its purpose and now hinders economic recovery, mobility, and regional competitiveness.

House Majority Leader Ferdinand Alexander “Sandro” A. Marcos filed House Bill 7443 to repeal the travel tax imposed under Presidential Decree 1183 and related provisions of the Tourism Act of 2009. The measure would end the collection of fees that currently reach P2,700 for first-class passengers and P1,620 for economy travelers—amounts that can total P6,480 for a family of four.

“The travel tax was created in a very different economic context. Today, it has become an added cost that restricts mobility and weighs heavily on ordinary Filipinos who simply want to travel for work, family, or opportunity,” Marcos said.

He noted that the Philippines has become a regional outlier, with most members of the Association of Southeast Asian Nations (Asean) already scrapping similar levies to boost tourism, trade, and people-to-people exchanges. Marcos also said the continued imposition of the travel tax runs counter to the Asean Tourism Agreement of 2002, which calls for the gradual removal of travel-related charges on Asean nationals.

Marcos warned that maintaining the travel tax—on top of rising airport terminal and modernization fees—creates financial barriers for average Filipinos and suppresses travel demand.

“A tax that discourages travel also discourages growth. If our neighbors are opening doors and reducing barriers, we should not be holding on to policies that place us at a disadvantage,” Marcos pointed out.

Court orders anti-mining protesters  in Nueva Vizcaya to explain defiance

By Jonathan L. Mayuga @jonlmayuga

THE regional trial court in Nueva Vizcaya has ordered several anti-mining protesters to explain why they should not be cited in contempt for allegedly defying a lawful order to allow mining equipment into a project site in Nueva Vizcaya town. In a five-page order, Judge Paul R. Attolba Jr. of the RTC in Bayombong issued the order after receiving a sheriff’s report detailing resistance during the implementation of a writ of preliminary injunction. The motu proprio order dated Jan. 28, 2026 was recently handed down by the RTC judge, directing seven individuals to show cause within 10 days why they should not be punished for indirect contempt under the Rules of Court.

The individuals named in the order are Florentino Daynos, Janette Macario, Sonette Nginsayan, Adelia Modi, Krislyn Pocday, Analiza Balliao, and Amelia Rabino.

The court scheduled a hearing for the indirect contempt proceedings on February 12 at 10 a.m. to allow the concerned parties to present their defenses and evidence.

Attolba warned that a failure to submit a written explanation or appear at the hearing would be considered a waiver of the right to be heard.

The court also reserved the right to take action against other unidentified individuals mentioned in the report if evidence warrants further citations.

The proceedings stem from a Jan. 23 incident at Barangay Keon Road in Bitnong, where anti-mining protesters allegedly formed human barricades to block the entry of mining equipment of Woggle Corporation, represented by Fredo Mina, which is conducting exploration in Dupax del Norte, in the province of Nueva Vizcaya.  The mining activity was met with strong opposition from communities, citing environmental concerns, and the conflict was elevated to the court of law.

According to the sheriff’s report, the group resisted repeated pleas to disperse and obstructed the implementation of the writ despite assistance provided by the Philippine National Police.

The court said certain individuals allegedly instigated the

See

Under the bill, agencies currently funded by travel tax collections, including the Tourism Infrastructure and Enterprise Zone Authority, the Commission on Higher Education, and the National Commission for Culture and the Arts, will instead receive funding through the General Appropriations Act.

“When travel becomes more expensive, fewer people move, fewer people spend, and fewer opportunities circulate through the economy. Lowering the cost of travel allows Filipino families to allocate their money where it matters most,” Marcos explained.

“Although the travel tax has long formed part of the country’s regulatory framework as a revenue-generating mechanism, it also functions as a deterrent to travel. Taxation on personal travel and online bookings suppresses demand, dampens tourism growth, and discourages mobility,” he said.

2.9k informal settlers to benefit from new QC

housing project

By Justine Xyrah Garcia

SOME 2,900 informal settlers are set to benefit from a new in-city rental housing project in Quezon City, the Department of Human Settlements and Urban Development (DHSUD) said on Wednesday.

The projects will be built in the barangays of Sauyo and Bagong Silangan, and are intended to relocate families currently living along waterways and other danger zones in Quezon City.

The developments, the agency said, will include basic infrastructure such as access roads, power supply, drainage systems, and water distribution facilities.

Housing Secretary Jose Ramon P. Aliling said relocating families from high-risk areas would not only protect lives but also help address flooding in the city.

“Through these projects, which are guaranteed to be safe and of good quality, we are not only moving our fellow Filipinos away from danger in waterways and other

House passes two measures to strengthen power sector

By Jovee Marie N. dela Cruz @joveemarie

THE House of Representatives has approved on third and final reading two key measures aimed at strengthening the country’s power sector—one establishing a national energy storage framework and another mandating insurance coverage and benefits for electrical and telecommunications line workers.

House Bill 6676, or the Energy Storage Systems (ESS) Act, was approved with 192 votes in favor, three against, and no abstentions. The measure seeks to ensure a stable and continuous electricity supply by institutionalizing the development, utilization, and commercialization of energy storage systems nationwide.

Authored by Party-list

“Travel is not a luxury for many Filipinos,” Marcos said. “It is part of how families stay connected and how workers sustain their livelihoods.” Jovee Marie N. dela Cruz

Reps. Presley de Jesus of PhilRECA and Sergio Dagooc of Apec, along with House Majority Leader Ferdinand Alexander A. Marcos and other lawmakers, the bill

provides a policy framework to support renewable energy integration by addressing the intermittent nature of solar and wind power.

Under the first measure, ESS deployment is expected to prevent power disruptions, reduce reliance on costly fueldependent peaking plants, and encourage investments in renewable energy projects. The bill also defines the roles of key agencies, including the Department of Energy, Energy Regulatory Commission, and Department of Environment and Natural Resources, while allowing ESS developers to avail of incentives under the Renewable Energy Law.

The House also approved House Bill 7239, or the Line Workers Insurance and Benefits Act, with 197 affirmative votes. The bill mandates compulsory insurance coverage and benefits for electrical and telecommunications line workers, recognizing the risks they face in maintaining power

House panel junks impeachment complaints vs Marcos

By Jovee Marie N. dela Cruz @joveemarie

HE House Committee on Justice

Ton Wednesday declared the two impeachment complaints filed against President Ferdinand “Bongbong” Marcos Jr. as “insufficient in substance.”

During the committee’s hearing, the Justice committee chairperson, Batangas Rep. Gerville Luistro said both complaints were dismissed through a supermajority vote.

The first complaint was filed by lawyer Andre de Jesus, while the second was lodged by the Makabayan bloc led by former Gabriela Rep. Liza Maza.

The committee voted 42-1 with three abstentions to approve a motion to declare the de Jesus complaint insufficient in substance.

Deputy Minority Leader and Caloocan Rep. Edgar Erice then moved that the panel find the Makabayan complaint sufficient in substance.

The committee defeated the Erice proposal by a vote of seven in favor of the motion against 39 and zero abstentions

The committee earlier found the complaint sufficient in form.

The committee will continue its meeting on February 9 to finalize the report, which will then be forwarded to the plenary for consideration. The scheduling of when the plenary will tackle the report depends on

the House of Representatives.

“We really intend to come up with a committee report so that the members can vote on the same on the continuation of our meeting on Monday, February 9. The report is simply the determination of sufficiency in form and substance, which we already did during our first three hearings,” Luistro explained.

When asked whether the dismissal effectively ends the impeachment process against Marcos, Luistro clarified that the matter is not entirely closed.

“As far as the proceedings today is concerned, I can consider that. However, we should be mindful that the committee report can still be reversed by at least one-third of all the members of the House of Representatives,” she said.

She added that if the plenary reverses the committee’s determination, the Committee on Justice would be “constrained to come up with articles of impeachment.”

The House Committee on Justice also defended its handling of the impeachment complaints against Marcos, insisting that the proceedings were not railroaded. Luistro said the deliberations were “extensive and exhaustive.”

The panel emphasized that assessing the form of a complaint is a preliminary process, separate from evaluating its substance, and is necessary before moving to further deliberations and voting.

Both complaints accused the President

Military to OFWs: Beware of too good to

THE Armed Forces (AFP) reminded prospective overseas workers to be wary of accepting job offers that are too good to be true to avoid being deployed to fight in conflict zones.

“We would like to remind the public na huwag tayo basta-basta maniwala ng magagandang offers sa atin ng trabaho. Make sure langponatinnalegaland lawful ang [recruitement] agencies natin para makapagtrabaho abroad [to not readily believe very good jobs offers from abroad. They must make sure that these job offers abroad are coming from legal and lawful agencies],” the AFP Public Affairs Office director, Col. Xerxes Trinidad, said in an interview.

be true offers

of culpable violation of the Constitution, graft and corruption, and betrayal of public trust.

De Jesus’ complaint, endorsed by Pusong Pinoy Rep. Jett Nisay, cited alleged unconstitutional acts, including the surrender of former President Rodrigo Duterte to the International Criminal Court, misuse of unprogrammed appropriations, and claims questioning the President’s fitness to serve.

Last Tuesday, several lawmakers concurred that Marcos cannot be impeached based on the allegations cited in the first impeachment complaint.

Endorsed by the Makabayan bloc, the Maza et al. complaint alleged betrayal of public trust over the so-called “BBM Parametric Formula” in infrastructure spending, allegedly linked to anomalous flood-control projects, as well as supposed irregularities involving PhilHealth funds and other budget allocations.

Members of the House Committee on Justice said the second impeachment complaint against Marcos, filed by 36 petitioners from the Makabayan bloc, should be dismissed for lack of substance, similar to the first complaint. Lawmakers said the petition relies on allegations without evidence and fails to directly link the president to the alleged offenses.

Lawmakers said there is no factual or documentary evidence connecting the President to these claims, stressing that

alleged acts of department officials cannot be automatically attributed to the Chief Executive.

House Committee on Justice Vice Chairperson Ysabel Maria J. Zamora also said there is no overt act linking Marcos to alleged flood-control schemes cited in an impeachment complaint, stressing that impeachment must rest on ultimate facts, not speculation.

Zamora underscored that “for an impeachment complaint to be declared sufficient in substance, the recital of facts should constitute the impeachable offense charged,” adding that “we need to show the ultimate facts or the overt acts of the President in relation to the various schemes he allegedly perpetrated.”

“To say that the Office of the President has become the command center of a criminal enterprise is not only unfounded but is also mere dramatic rhetoric,” Zamora said.

Zamora said the complaint itself shows that “the President did not do any overt act that will show that he directed these three schemes,” adding that “having an imperfect policy direction is not an impeachable offense.”

She also dismissed efforts to tie Marcos to alleged corruption through a Supreme Court ruling, saying, “The connection to corruption is highly speculative,” and stressed that claims of personal involvement are unsupported.

“Finally, that the President allegedly has a direct personal involvement is not clear from the allegations or borne out from the records,” Zamora said, warning, “We should not tolerate the use of hearsay allegations, videos that are not attested to, or fake news.”

Justice Committee Vice Chairman

Alfredo A. Garbin Jr. said the second impeachment complaint against Marcos is a policy critique that fails to meet constitutional standards.

“So my take on this, Madam Chair, is that this pleads a policy critique. It does not plead an impeachable offense nor a willful constitutional breach,” Garbin told the House Committee on Justice.

Calling the complaint insufficient, Garbin stressed, “A planning allocation formula is not illegal on its face. Government budgeting necessarily involves policy priorities.”

“The phrase ‘priorities of leaders,’ even if quoted, is not proof of graft,” he said, adding that the complaint “does not cite a constitutional provision prohibiting executive consideration of policy priorities.”

“No pleaded fact shows that the President authored, ordered, or used the formula to commit a corrupt act,” Garbin said, warning that inferring liability “is not ultimate facts, Madam Chair. It is an argument.”

He also pointed out an evidentiary gap, saying, “No authentic DPWH annex document is shown in the filed copy.”

Tulfo to ask colleagues to temper rhetoric vs China aggression in WPS

Justice Committee Vice Chair Mauricio G. Domogan said the impeachment complaint fails the sufficiency test due to the lack of factual allegations directly linking President Marcos to an impeachable offense.

“It can be if there is a factual allegation, but it does not link the President,” Domogan said, stressing that proceeding without such linkage would only “be prolonging the agony.”

After reviewing the complaint, Domogan said, “I cannot find evidence that will directly link the president to having committed an impeachable offense.”

“Yes, we condemn corruption that has been committed,” he said, but emphasized that the committee’s duty is limited.

“Our function is to determine whether there is an impeachable offense,” Domogan said, adding that “on this first ground… I respectfully submit that I cannot find one.” House Assistant Minority Leader and Gabriela Women’s Party Rep. Sarah Elago, one of the endorsers of the complaint, criticized the House Committee on Justice’s decision to dismiss the impeachment complaint against President Ferdinand Marcos Jr., calling it a clear attempt to block accountability.

Elago said the real reason behind the majority’s move is to prevent Marcos from facing a full hearing and addressing the serious allegations against him. “He refuses to face the people,” she stressed.

beefing up capabilities vs AI-assisted love scams

“We hate to speculate on how the person was recruited, but we would be like to be informed in our coordination with the agencies para malaman natin kung ano at maiwasan natin ang ganitong klaseng pagre-recruit [for us to know on how exactly it happen and so that we can tell the public to avoid these kinds of recruitment],” Trinidad said.

Initial information gathered by the AFP, Trinidad said, indicated that Gumangan was recruited to work for “a certain job” and not in the military.

“And with that, we really [need] look into [this] and take into consideration how he landed in the conflict area,” he said. PNA

Trinidad was referring to the incident where Raymond Santos Gumangan, a Filipino citizen from Alcala, Pangasinan, was reportedly captured by Ukrainian troops while he was fighting for Russia in the ongoing conflict between the two nations.

Evidence vs Atong Ang strong–DOJ

TBy Malou Talosig-Bartolome

SEN. Erwin Tulfo, the new chairman of the Senate Foreign Relations Committee, on Wednesday, said he will ask fellow senators to temper their rhetoric against China to give Filipino diplomats more room to negotiate the long-standing Code of Conduct (COC) in the South China Sea.

Tulfo, who previously castigated a deputy spokesperson of the Chinese Embassy, appeared to soften his tone after meeting Foreign Affairs Secretary Ma. Theresa Lazaro at the DFA headquarters in Pasay City on Wednesday.

He said he also plans to confer with fellow Senators Francis Pangilinan, Anna Theresia Hontiveros, and Pilar Juliana Cayetano, and consult with the National Security Council and the Department of Defense.

condemned Beijing’s actions, but instead call for a “cease-fire.”

By Rex Anthony Naval

Nartatez

EN. Jose Melencio

GJr., National Police chief, on Wednesday, said the service is beefing up its capability to combat the rising threat of AIassisted love scams.

This, as the PNP-Anti-Cybercrime Group is now in the midst of strengthening its capabilities as scammers adopt more sophisticated tools to prey on Filipinos.

“The PNP is continuously strengthening its cybercrime units by enhancing our technical capabilities, specialized training, and inter-agency coordination. AI scams are evolving so we really need to step up in terms of improving the investigation skills and operational capability of our personnel,” Nartatez said.

By Joel R. San Juan @jrsanjuan1573

HE Department of Justice (DOJ) on Wednesday shrugged off the motion filed by the camp of businessman Charlie “Atong” Ang before the Regional Trial Court (RTC) in Sta. Cruz, Laguna, seeking to quash the arrest warrant issued against him in connection with the case of missing sabungeros or cockfighting enthusiasts.

Acting Justice Secretary Fredderick Vida, in an interview with reporters, maintained that the criminal charges filed against Ang are based on “solid evidence.”

Vida, however, acknowledged that the filing of the motions for reconsideration and to quash arrest warrant are legal remedies available to Ang’s counsels.

“But definitely the position of the DOJ is that our case is good, it’s based on solid

evidence,” Vida said. Vida also noted that Ang’s case can be considered a law enforcement matter as of present since he is already considered a fugitive from justice.

“Atong Ang is more of a law enforcement matter now, so we’re coordinating. All the law enforcement agencies are helping each other,” Vida said.

The RTC in Sta. Cruz issued an arrest warrant against Ang and 17 other individuals on January 14 in connection with the disappearance of more than 30 cockfighting enthusiasts or “sabungeros” four years ago.

The arrest warrants issued by the Sta. Cruz court covers four counts of kidnapping with homicide and 15 counts of kidnapping and serious illegal detention charges filed by the DOJ.

See “DOJ,” A8

“I will try to visit the National Security Council… because it seems China was irritated with them,” Tulfo told reporters.

Tulfo said Lazaro briefed him that China had shown willingness to accelerate talks on the Code of Conduct.

“Before, China seemed unwilling to accept the Code of Conduct, but now they appear willing,” he added.

However, the recent word war between the Coast Guard (PCG) spokesman for the West Philippine Sea, Commo. Jay Tarriela and Chinese Embassy officials affected the overall atmosphere of the COC negotiations in Cebu City last week.

Beijing was reportedly offended by “personal attacks” against President Xi Jinping, including an artificial intelligence (AI)-generated caricature portraying him as a bully.

The Chinese Foreign Ministry even summoned Philippine Ambassador Jaime FlorCruz over the incident.

Tulfo clarified he will not move to withdraw Senate Resolution 256, which

“I’m not saying we scale down… perhaps we should not add more. Leave it as it is for now, but let’s not add further,” he said.

The COC, currently being negotiated by Association of Southeast Asian Nations (Asean) and China, aims to ease tensions in disputed waters while sovereignty claims remain unresolved. For the past 17 years, Asean and China have been at loggerheads over its scope, legality, and the specific behaviors that should be observed.

DFA officials are under pressure to finish the text this year, as the Philippines plays host of the Asean meetings this year.

Lazaro reportedly appealed to Tulfo to persuade the Senate to “tone down” personal attacks on China, especially leader Xi, to allow diplomats more room to maneuver and rebuild trust with Beijing.

She pointed out that diplomacy has already worked in the Philippines’ favor

at Ayungin Shoal, where tensions eased and resupply missions to Filipino troops resumed without harassment.

“We’ve had three or four resupply missions already, and because of DFA’s intervention, China allowed them. It’s for humanitarian purposes, food for our soldiers. So they were no longer chased, things suddenly quieted down,” Tulfo said.

Tulfo confirmed that the DFA will arrange a meeting between his committee and the Chinese ambassador. His main requests: Stop the use of water cannons by the Chinese Coast Guard.

Allow Filipino fishermen to fish freely in traditional grounds.

“We only ask that our fishermen be allowed to fish as neighbors, we should be able to coexist peacefully,” he said.

Tulfo also raised the safety of Overseas Filipino Workers (OFWs) in conflict-prone countries, saying the government is ready to evacuate them if war breaks out.

See “Tulfo,” A8

Peace adviser backs bill setting date for BARMM’s first polls

THE Office of the Presidential Adviser on Peace, Reconciliation and Unity (Opapru) has expressed full support for House Bill 7236 that calls for the final date of the first Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) elections. Secretary Carlito Galvez

Personnel of the PNP-ACG are undergoing continuous training on AI detection, deepfake analysis, and digital forensics to deter emerging forms of love scams amid the rise of artificial intelligence or AI. The PNP is also pushing for the upgrading of cybercrime equipment and investigative tools while coordination with other government agencies and civil society groups is being intensified to allow faster information sharing and quicker takedown of scam operations.

Earlier, the Cybercrime Investigation and Coordinating Center (CICC) and civil-society group Scam Watch PH cautioned the public about the rising danger of AI-driven love scams targeting individuals looking for romantic relationships.

Authorities said these schemes prey on emotional vulnerability rather than a lack of awareness, with common targets including those seeking foreign partners, financially secure professionals, women under pressure to marry, men dealing with rejection, and solo parents. They explained that scammers now use AI to build fake identities and maintain emotional manipulation, making their operations more coordinated and believable before eventually moving to financial exploitation.

Six prevalent love scam profiles in the country include the “Sad Boi/ Sad Gurl,” “Seducer,” “Investor,” “Serviceman,” “Escort,” and “Slow Burn,” each employing distinct methods to gain trust and solicit money.

OFW deployments hit record 2.7 million in 2025 as Kuwait and Europe open doors

By Samuel P. Medenilla

T@sam_medenilla

HE number of deployed overseas

Filipino workers (DMW) breached the 2.7 million mark for the first time last year with the reopening of the Kuwait market and more new employment opportunities in European countries.

In its latest preliminary data, the agency reported that the deployment figures last year were 15.43 percent higher compared to the 2.37 million in 2024.

Most or over 2.15 million of those who left the country for work in 2025 were land-based, while 589,179 were sea-based.

The top destination for land-based OFWs was the United Arab Emirates (UAE) with 397,892, allowing it to overtake the Kingdom of Saudi Arabia (KSA), which is now in second place with 386,699.

Labor group backs ‘no work, no pay’ bill for lawmakers

By Justine Xyrah Garcia

LAWMAKERS should not be exempt from the “no work, no pay” rule that governs most workplaces, labor group Federation of Free Workers (FFW) said, as it backed a new bill seeking to penalize absenteeism in Congress.

The FFW on Wednesday expressed its support for a measure filed by House Rep. Ferdinand Alexander “Sandro” A. Marcos that would withhold salaries and allowances from senators and members of the House of Representatives for days when they are absent from official duties.

FFW President Sonny G. Matula said the proposal merely applies to lawmakers the same standard long imposed on ordinary workers where absence automatically translates to lost income or disciplinary action.

“So why should lawmakers —who are elected and paid by the people under the rule of 'no work, no pay'—enjoy a different rulebook?” Matula added.

According to Matula, absenteeism among lawmakers “has become too common to ignore.”

He pointed to frequently empty seats during House sessions and public accounts of at least one “senator who has reportedly

been absent for months” yet continues to receive full pay and allowances.

“A worker who disappears from work doesn’t get rewarded—he gets written up AWOL notice and discipline. Congress should not be the only workplace in the country where 'missing in action' still comes with full pay,” Matula added.

Under House Bill No. 7432, or the proposed No Work, No Pay for Members of Congress Act, compensation for senators and representatives would be limited strictly to days when they are present and actively performing legislative functions.

These include attendance at plenary sessions, participation in committee hearings where they are officially listed as members, and engagement in authorized official activities.

“Absences without a valid reason shall result in forfeiture of compensation for the day[s] missed,” the bill stated.

Only a narrow set of reasons would be recognized as valid grounds for absence under the measure. These include illness supported by a medical certificate from a licensed physician, official representation duties approved by chamber leadership, authorized official travel or missions, and formally approved leaves of absence.

Calbiga Bridge repair: Dizon insists on proper funding and no shortcuts

By Lorenz S. Marasigan @lorenzmarasigan

DEPARTMENT of Public Works and Highways (DPWH) Secretary Vince

Dizon has ordered its regional office in Samar to ensure that the restoration of the Calbiga Bridge meets proper standards and is not done on the cheap. Dizon issued the directive as the agency moves to repair the critical infrastructure that serves as the main route for motorists and residents traveling from Calbiga, Samar to Tacloban City, Leyte.

“Let’s just do it properly, do it right. Don’t scrimp on this,” Dizon said, emphasizing the importance of quality work on the bridge retrofitting project.

The DPWH chief said the bridge plans will be reviewed by the DPWH Central Office to verify that adequate funding has been allocated for the strengthening work.

Dizon also urged the regional office to accelerate the bridge reinforcement, citing similar work being done on the San Juanico Bridge.

The DPWH aims to quickly restore normal traffic flow and raise the load limit of Calbiga Bridge, which has been operating under a one-way traffic scheme and a 15-ton load restriction since October 2025.

The agency imposed a load limit on the bridge following a technical and load rating assessment, which showed that the bridge is showing signs of structural deterioration, thus a lower load capacity.

Singapore came in third place with 221,492, Hong Kong with 202,415, Qatar with 160,890, Taiwan with 134,363, Kuwait with 106,394, Japan with 60,748, South Korea with 38,390, and Malaysia with 35,052.

Of the said destinations, only KSA registered a drop in deployment from 419,355 in 2024. As for Kuwait, it registered the biggest increase 39.45 compared to the 76,272 in 2024.

Kuwait removed its visa ban for Filipino skilled workers, which includes domestic workers, in 2024, which resulted in higher deployment numbers for the said Middle East country.

The Kuwaiti government imposed the suspension in response to the restriction imposed by DMW in the deployment of Filipino domestic workers to Kuwait fol -

lowing the murder of OFW Jullebee Ranara.

DMW officials also attributed the surge in deployment last year to the opening of non-traditional destinations markets for OFWs in Europe such as Croatia. The European country welcomed 964 OFWs last year from 389 in the previous year.

For Hungary, it rose to 1,493 from 867, for the Czech Republic it increased to 1,113 from 445.

DENR chief urges officials and employees to be ‘enablers’ of responsible development

By Jonathan L. Mayuga @jonlmayuga

SECRETARY Raphael M. Lotilla urged the agency’s workforce to remain focused on the Department of Environment and Natural Resources’ (DENR) core responsibilities – protecting the environment and natural resources while enabling responsible development.

Lotilla stressed that government operations must continue, and priority reforms under the administration’s agenda must proceed without disruption.

“We will continue to focus on our mission,” he said, underscoring that the Department’s performance should be measured by the consistency and quality of its outputs, rather than by personalities.

Lotilla was bypassed three times after the Commission on Appointments (CA)

failed to take up or act on his nomination before Congress adjourned on 30 December.

Malacañang has said it is reviewing his appointment records to ensure all requirements are in order, while emphasizing that there is no Cabinet reshuffle.

At Monday’s flag-raising ceremony, the DENR chief highlighted the immediate priority of preparing for its upcoming planning conference, which will be critical to the timely and effective implementation of the 2026 budget.

With the General Appropriations Act (GAA) for 2026 approved later than usual, DENR expects a compressed timeline for budget execution in the first quarter, particularly for infrastructure-related programs.

Lotilla urged offices to anticipate these demands and strengthen coordination with partner agencies, citing the limited construction

period ahead of the rainy season. He stressed the need to balance timely decision-making with strict compliance with environmental standards to ensure that priority projects move forward responsibly.

On the international front, the Secretary noted the country’s participation in an upcoming global meeting on critical minerals, to which the United States government invited the Philippines alongside other countries. He reiterated that all engagements will be guided by what serves the national interest.

Lotilla also emphasized that integrity and accountability remain central to the Department’s work, noting that adherence to due process is essential to maintaining public trust and institutional credibility.

“Let us continue to move forward inspired by the Almighty and by our dedication to the public interest,” he said.

Senate must continue to provide budgetary support for AFP amid threats in WPS, says Kiko

EBy Butch Fernandez @butchfBM

VEN though legislation exists to defend the Philippines’ rights to the resourcerich West Philippine Sea (WPS), there’s an urgent need for continuous budgetary support for the country’s armed forces in the face of China’s increasingly aggressive actions in the region, according to Senator Francis “Kiko” Pangilinan.

He made this call during the interpellation of some senators on his proposed Senate Resolution No. 256 on the Chinese Embassy in Manila’s remarks against several public officials, including himself, who spoke out against the harassment experienced by fishermen and Philippine Coast Guard (PCG) and military personnel and officials.

Pangilinan, however, expressed hope that there would be no need for military confrontation despite the rising tensions caused by China in claiming almost the entire South China Sea.

He noted that a perennial complaint of fishermen is that they are repeatedly being driven away at sea. “But if we expand the network and funding for the Coast Guard, a civilian agency to patrol our seas, our defense of our Exclusive Economic Zone and the West Philippine Sea will be stronger,” he said in response to Senator JV Ejections query on strengthening the country’s claims in the region.

TThey welcomed the trend since European countries usually hire skilled workers and provide them with decent working conditions compared to traditional markets in the Middle East and Asia.

DMW said it will continue to forge more bilateral agreements with other countries this year to ensure the increasing number of OFWs abroad will enjoy safe and fair working conditions.

₧5.2B spent in 2 controversial cash dole outs in Davao City in 2025

DAVAO CITY—Government shelled out P5.22 billion in direct cash distribution last year under two government cash dole-out programs that were controversial over their link to politics.

The bigger of the dole out was under the Assistance to Individuals in Crisis Situation (AICS), a financial assistance program purported to be given to persons-in-need, which distributed P3.89 billion to target individuals,

The other financial assistance program was called Ayuda para sa Kapos ang Kita Program (AKAP), which also distributed P1.33 billion.

Both programs were implemented in the Davao Region by the regional office of the Department of Social Welfare and Development.

ization program in 2026 to support ongoing improvements in equipment, logistics, and training.

During the interpellation, Pangilinan reiterated that the Philippines has clarified and strengthened the legal basis of its maritime entitlements in the West Philippine Sea through Republic Act No. 12064, or the Philippine Maritime Zones Act of 2024, which defines the country’s maritime zones and provides that the Philippines shall exercise all maritime rights and jurisdictions in accordance with the United Nations Convention on the Law of the Sea (UNCLOS), the 2016 South China Sea Arbitral Award (PCA Case No. 2013-19), international law, and other pertinent laws and regulations of the Philippines.

He also emphasized that the 2016 Arbitral Tribunal ruling has already invalidated China’s expansive nine-dash-line claim, noting that senators must help enforce and defend the arbitral ruling.

Pangilinan, who has drawn the ire of the Chinese Embassy for his recent statements defending the West Philippine Sea, stressed the need for the Senate to adopt Senate Resolution No. 256, which signifies the institution’s support for the recent remarks by the Department of National Defense (DND) and the AFP.

Group (KIG) in Palawan without having to argue about the nuances of international law, Senate President Pro Tempore Panfilo “Ping” M. Lacson said Wednesday.

Lacson said the Philippines became the owner of the KIG through a mode of acquiring territory known as discovery and effective occupation.

“Yung Spratly Islands, hindi ba si Tomas Cloma ang naka-discover nito kasi in-occupy niya? And this was formalized by the late President Ferdinand Marcos Sr. by way of Presidential Decree 1596 in 1978 [In the case of the Spratly Islands, wasn’t Tomas Cloma the one who discovered and occupied it? This was formalized by the late President Ferdinand Marcos by way of Presidential Decree 1596 in 1978],” Lacson said at the hearing of the CA’s Committee on National Defense.

Citing the principle of terra nullius (“nobody’s land”), Lacson noted that no state legally owned the territory at the time Cloma discovered and occupied it.

The AICS provides medical assistance, burial, transportation, education, food, and cash assistance for other support services or needs of a person or family.

“For AICs, we served 800,000 beneficiaries under the following categories: food assistance, medical assistance, educational, transportation, and personal and family food packs. These are under the category that our brethren in need can avail,” said Gemma dela Cruz, chief protective services division of DSWD-XI.

Most of those who applied for AICs needed food assistance (70.79 percent), medical assistance (21.94 percent), funeral assistance (6.89 percent), and other assistance (0.15 percent), she said. Also last year, the DSWD gave financial assistance to minimum-wage or low-income earners numbering to 250,000 persons. Some P1.33 billion were given to them.

By Joel R. San Juan @jrsanjuan1573

HE Department of Justice has secured the conviction of three individuals who were found to be responsible for the illegal importation of 148.8 kilos of methamphetamine hydrochloride or “shabu” with an estimated value of almost P1 billion.

Found guilty for violation of Section 1401 (g) in relation Section 118 (g), of Republic Act 10863, otherwise known as the Customs Modernization and Tariff Act were Muktasil Abundol Asimuddin, Emmanuel Paulo delos Reyes, and George Fernandez. In a ruling issued by the Regional Trial Court of Manila last January 23, 2026, the court found the three accused to have had“indispensible participation”in the importation of shabu concealed inside aluminum pallets carrying sacks of tapioca starch.

The shipment which was declared as containing sacks of tapioca was seized by the Customs after it was abandoned in 2019 and was subsequently placed for auction. The illegal drugs were discovered after the winning bidder noticed white powder falling from one of the aluminum pallets while it was being lifted by a forklift. The accused were eventually charged with importation of dangerous drugs by means of false and fraudulent invoice declarations concerning the content of the shipment as well as its quality and quantity. They were sentenced to reclusion perpetua and ordered

“Again, it is a challenge for us in the Senate and the chairman of the Committee of Finance to help continue generating funding or providing funding for the strengthening and modernizing of our defense apparatus, Mr. President,” the senator added.

The Armed Forces of the Philippines (AFP) received a P40-billion allocation for its modern-

DepEd

The proposed resolution has crossed political party lines, receiving support from Senate President Vicente Sotto III, Senate Pro Tempore Panfilo Lacson, Senate Majority Leader Juan Miguel Zubiri, and Senators Erwin Tulfo, Risa Hontiveros, Raffy Tulfo, Win Gatchalian, Loren Legarda, JV Ejercito, Bam Aquino, Jinggoy Estrada, Lito Lapid, Camille Villar, and Mark Villar.

‘Kalayaan is ours’

A LONG-standing legal principle supports the Philippines’ ownership of the Kalayaan Island

He added Cloma then turned over ownership to the Philippine government thus leading to the presidential decree, although international law would still govern it. This was made formal by the 2016 arbitral ruling, he pointed out.

Following this principle, Lacson—who in 2021 visited Pagasa Island in the KIG in Palawan that is occupied by Filipinos - maintained that the island group “is ours.”

Earlier during the hearing, Sen. Rodante Marcoleta said part of the KIG is “way beyond our exclusive economic zone.”

“SoatinangKIG[So the KIG is ours]. And Pagasa Island is a barangay of the KIG municipality, province of Palawan. This is the only inhabited barangay in the KIG and it is ours,” Lacson said.

Food Assistance was the bulk of assistance under AKAP at 43.09 percent, followed by medical assistance (42.54 percent), funeral assistance (13.61 percent), and cash relief assistance (0.71 percent).

Dela Cruz said however, that AKAP was terminated this year over unfunded programs. Only the AICS program would remain as part of DSWD services under the Crisis Intervention Section, she said Manuel T. Cayon

charts major education reform based on EDCOM II recommendations

By Claudeth Mocon-Ciriaco @claudethmc3

ANCHORING policy directions, strategic priorities, and implementation roadmaps on the recommendations put forward in the Final Report of the Second Congressional Commission on Education (EDCOM II), the Department of Education (DepEd) on Wednesday held its National Planning Conference, outlining the

agency’s forward-looking plans to reform and strengthen the education system. The DepEd also emphasized the imperative for reforms to be coherent, data-driven, and resilient—ensuring alignment across policy, planning, and execution.

Para sa taong ito, kinakailangan natingilatagangatingmgaprayoridadupang masigurong bawat sentimo sa ating 2026 budgetaymagagamitnangwasto. We owe it to our teachers and learners to deliver the

highest quality education possible,” said Education Secretary Juan Edgardo “Sonny” Angara said. During the discussions, DepEd underscored the need to strengthen the Learning System through the seamless integration of curriculum, teaching and learning processes, assessment, learning materials, teacher training, and alternative learning delivery modalities. For 2026, the Department will prioritize the review and consolidation of Special Curricular Programs, while sustaining the implementation of the strengthened Senior High School (SHS) curriculum, including the expansion of Grade 12 elective offerings. Learners will also be provided with clearer post-K to 12 pathways through the rollout of the National Entrepreneurship Challenge. In terms of learning resources, the

See “DepEd,” A7

Russia bombards Ukraine with drones and missiles, breaking reported pause

By Kamila Hrabchuk The Associated Press

KYIV, Ukraine—Russia carried out a major overnight attack on Ukraine in what President Volodymyr Zelenskyy said Tuesday was a broken commitment to halt striking energy infrastructure as the countries prepared for more talks on ending Moscow’s 4-year-old full-scale invasion.

The bombardment included hundreds of drones and a record 32 ballistic missiles, wounding at least 10 people. It specifically took

aim at the power grid, Zelenskyy said, as part of what Ukraine says is Moscow’s ongoing campaign to deny civilians light, heating and

running water during the coldest winter in years.

“Taking advantage of the coldest days of winter to terrorize people is more important to Russia than diplomacy,” Zelenskyy said. Temperatures in Kyiv fell to minus 20 degrees Celsius (minus 4 Fahrenheit) during the night and stood at minus 16 C (minus 3 F) on Tuesday.

NATO Secretary-General Mark Rutte visited Kyiv in a show of support. He said that the overnight strikes raise doubts about Moscow’s intentions on the eve of talks, calling them “a really bad signal.”

He added that it was clear that the attacks only strengthen Ukrainians’ resolve.

Officials have described recent talks between Moscow and Kyiv delegations as constructive. But after a year of efforts, the Trump administration is still searching for a breakthrough on key issues such as who keeps the Ukrainian land that Russia’s army has occupied, and a comprehensive settlement appears distant. The talks in Abu Dhabi, United Arab Emirates, are scheduled for Wednesday and Thursday.

Zelenskyy said Ukraine is ready to discuss how to end the fighting. “But no one is going to surrender,” he said.

Dispute over power grid attacks

A KREMLIN official said last week that Russia had agreed to halt strikes on Kyiv for a week until Feb. 1 because of the frigid temperatures, following a personal request from US President Donald Trump to Russian President Vladimir Putin. However,

the bitter cold is continuing and so are Russia’s aerial attacks.

Zelenskyy, however, accused Russia of breaking its commitment to hold off its attacks on Ukraine’s energy assets, claiming the weeklong pause was due to come into force last Friday.

“We believe this Russian strike clearly violates what the American side discussed, and there must be consequences,” he said.

Trump claimed Putin “kept his word” on the temporary pause.

“It was, it’s a lot,” Trump told reporters. “You know, one week is—we’ll take anything, because it’s really, really cold over there.”

He added that he wanted Putin to extend the pause. “I would have liked him to,” he said. “I want him to end the war.”

The bombardment of at least five regions of Ukraine comprised 450 long-range drones and 70 missiles, Ukrainian officials said.

Russian officials provided no immediate response to

Zelenskyy’s comments.

Ukraine says Russia has tried to wear down Ukrainians’ appetite for the fight by creating hardship for the civilian population living in dark, freezing homes. It has tried to wreck Ukraine’s electricity network, targeting substations, transformers, turbines and generators at power plants.

Ukraine’s largest private power company, DTEK, said that the overnight attack hit its thermal power plants in the ninth major assault since October.

NATO’s show of support RUTTE addressed the Ukrainian parliament during his visit and said that countries in the military alliance “are ready to provide support quickly and consistently” as peace efforts drag on.

Since last summer, NATO members have provided 75% of all missiles, and 90% of those used for Ukraine’s air defense, under a financial arrangement whereby

alliance countries buy American weapons to give to Ukraine, he said.

European countries, fearing Moscow’s ambitions, see their own future security as being on the line in Ukraine.

“Be assured that NATO stands with Ukraine and is ready to do so for years to come,” Rutte said. “Your security is our security. Your peace is our peace. And it must be lasting.”

Kyiv apartment blocks left without power IN Kyiv, officials said that five people were wounded in the strikes that damaged and set fire to residential buildings, a kindergarten and a gas station in various parts of the capital, according to the State Emergency Service. By early morning, 1,170 apartment buildings in the capital were without heating, Kyiv Mayor Vitali Klitschko said. That set back desperate repair operations that had restored heat to all but 80 apartment buildings before the attack, he said.

Russia also struck Ukraine’s northeastern Kharkiv region, where injuries were reported, and the southern Odesa region.

The attack also damaged the Hall of Fame at the National Museum of the History of Ukraine in the Second World War, in Kyiv, Ukrainian Culture Minister Tetiana Berezhna said.

“It is symbolic and cynical at the same time: The aggressor state strikes a place of memory about the fight against aggression in the 20th century, repeating crimes in the 21st,” Berezhna said.

DepEd.

agency reported that the majority of textbooks have already been procured and are expected to be delivered by June, in time for the opening of the next school year. This will also support the full implementation of the Strengthened SHS program across public schools nationwide.

The Department, likewise, reiterated that a key priority for the year is the enhancement of school-based staffing. DepEd is targeting the filling of 32,916 new teaching positions; 6,000 Principal I items; 11,268 Administrative Officer II items; 5,000 Project Development Officer I items; and 10,000 School Counselor Associate I items. In addition, more than 100,000 teachers are set to receive their “long overdue” promotions under the Expanded Career Progression (ECP) System.

Human resource reforms will shift toward transformational workforce development, supported by artificial intelligence (AI)-powered platforms for workforce planning, assessment of school head applicants, human resource deployment, and the streamlining of school forms.

These initiatives, DepEd said, also support the agency’s broader efforts to integrate technology into basic education.

To uphold its learnercentered mandate, DepEd will also intensify learning recovery and continuity measures aimed at preventing learning losses caused by natural disasters, classroom congestion, malnutrition, absenteeism, and bullying.

The Department also highlighted the increase in budget allocation for schools’ Maintenance and Other Operating Expenses (MOOE)—from P48 billion in 2025 to P60 billion in 2026— to ensure that school heads, personnel, and teachers are sufficiently supported in implementing programs and initiatives on the ground.

“Sa tulong ng pondong ipinagkaloob sa atin ng ating mahal na Pangulo, President Bongbong Marcos, at ng Kongreso, patuloy nating isusulong ang mahahalagang reporma sa edukasyon—para sa Bagong Pilipinas,” Angara said.

Attended by officials from the Central and Field Offices nationwide, the conference focused on comprehensive discussion of the Five-Point Reform Agenda and the Quality Basic Education Development Plan (QBEDP).

Uniting against US protectionism, trade partners cut their own deals

By Paul Wiseman, Josh Boak & Elaine Kurtenbach The Associated Press

WASHINGTON—Bullied and buffeted by President Donald Trump’s tariffs for the past year, America’s longstanding allies are desperately seeking ways to shield themselves from the president’s impulsive wrath.

US trade partners are cutting deals among themselves— sometimes discarding old differences to do so—in a push to diversify their economies away from a newly protectionist United States. Some European governments and institutions are reducing their use of US digital services such as Zoom and Teams.

Central banks and global investors are dumping dollars and buying gold. Together, their actions could diminish US influence and mean higher interest rates and prices for Americans already angry about the high cost of living.

Last summer and fall, Trump used the threat of punishing taxes on imports to strong-arm the European Union, Japan, South Korea and other trading partners into accepting lopsided trade deals and promising to make massive investments in the United States.

But a deal with Trump, they’ve discovered, is no deal at all.

The mercurial president repeatedly finds reasons to conjure new tariffs to impose on trading partners that thought they had already made enough concessions to satisfy him.

Just months after reaching his agreement with the EU, Trump threatened new tariffs on eight European countries for opposing his attempts to seize control of Greenland from Denmark—though he quickly backed down. And last month, he said he’d slap 100% tariffs on Canada for breaking with the United States by agreeing to reduce Canadian tariffs on Chinese electric vehicles.

“Our trading partners are discovering that the largely one-sided deals they concluded with the US provide little protection,’’ said former US trade negotiator Wendy Cutler, senior vice president at the Asia Society Policy Institute. “As a result, trade diversification efforts by our partners are on turbo charge, looking to reduce dependence on the US.’’

Trump supporters such as Paul Winfree, who was deputy director of the White House Domestic Policy Council during Trump’s first term, are wary of the relative de -

cline in US Treasury note holdings by foreign central banks and view the national debt as a vulnerability rivals would like to exploit.

Winfree, CEO of the Economic Policy Innovation Institute, a think tank, said that some of Trump’s advisers do not feel America has fully benefited from the dollar’s status as the world’s dominant currency.

“But the fact remains that every other country is jealous of our status, and many of our adversaries would love to challenge the US dollar and Treasuries,” he said.

White House spokesman Kush Desai insists America’s standing on the global stage has not been diminished.

“President Trump remains committed to the strength and power of the US dollar as the world’s reserve currency,” he said.

India and the EU clinch a longawaited deal

THE most eye-opening deal so far has been the pact announced last week between the 27-country EU and India, the world’s fastest growing major economy. Negotiators had been at it for nearly two decades before they closed the agreement.

Likewise, an EU trade deal announced two weeks ago with the Mercosur nations of South America took a quarter century of negotiation. It will create a free-trade market of more than 700 million people.

“Some of these deals have been in the works for quite some time,’’ said Maurice Obstfeld, a senior fellow at the Peterson Institute for International Economics and former chief economist at the International Monetary Fund. “The pressure from Trump made them more eager to accelerate the process and reach agreement.’’

EU exporters were jubilant over the India deal. VDMA, a group of European machinery and plant engineering companies, welcomed lower Indian tariffs on machinery.

“The free trade agreement between India and the EU brings much needed oxygen to a world increasingly dominated by trade conflicts,” VDMA’s executive director, Thilo Brodtmann, said in a statement. “With this agreement, Europe is sending a clear signal in favor of rules-based trade and against the law of the jungle.”

‘We have all the cards’ ON Monday, Trump went on social media to announce his own deal with India. The US, he posted, would reduce tariffs on Indian imports after India agreed to stop buying oil from Russia, which has

used the sales to fund its four-year war in Ukraine.

The president said that India would reduce its tariffs on American products to zero and buy $500 billion worth of American products. Trade lawyer Ryan Majerus, a partner at the King & Spalding and a trade official in the Biden administration and during Trump’s first term, said that businesses and legal analysts were awaiting official White House documents spelling out details of the deal.

Trump is banking on there being limits to other countries’ ability to pull away from the United States. America has the world’s biggest economy and consumer market. “We have all the cards,’’ Trump told Fox Business this month.

Countries like South Korea, dependent on America’s market and military protection, can’t afford to ignore Trump’s threats. On Monday, for example, the president said he was increasing tariffs on South Korea goods because the country’s legislature has been slow to approve the trade framework announced last year. On Tuesday, the country’s Finance Ministry responded by saying its chief, Koo Yun-cheol, would push lawmakers to quickly approve a bill to invest $350 billion as promised in the agreement.

“The US was trying to identify a counterpart that would find it difficult to refuse US demands outright, given the depth of its economic and security ties,” said Cha Du Hyeogn, an analyst at South Korea’s Asan Institute for Policy Studies.

Or consider Canada, which sends 75% of its exports to its southern neighbor. “Canada and US will always be tightly linked through international trade,” said Obstfeld, a professor at the University of California, Berkeley. “We’re talking about adjustments more or less on the margin.’’

But the world’s growing rejection of Trump’s policies is already having an impact, driving down the value of the dollar, long the currency of choice for global commerce, to its lowest level since 2022 last week versus several competing currencies.

Syracuse University political scientist Daniel McDowell, author of the book “Bucking the Buck: US Financial Sanctions and the International Backlash against the Dollar,” sees a vibe shift under Trump: Foreign countries and investors want to reduce their exposure to the United States, which has moved from a source of security and stability to a driver of instability and unpredictability under Trump.

Supreme Court upholds Marcos’ anti-corruption commission, clearing way for infrastructure probe

By Samuel P. Medenilla @sam_medenilla

WITH the decision of the Supreme Court (SC) to dismiss the petition questioning the Constitutionality of Executive Order (EO) No. 94, which created the Independent Commission for Infrastructure (ICI), the fact-finding panel can now continue to perform its mandate without any reservation, according to Malacañang.

“It is the obligation of this administration to cleanse the government from the abuse of public funds, which is why the President initiated it through Executive Order No. 94,” Palace

Press Officer Claire Castro said in Filipino in a statement last Wednesday.

The petition against EO 94 was filed by lawyers Jacinto Paras, Manuelito Luna and

Ferdinand Topacio.

The High Court said the petitioners were not able to present a compelling reason to back their claims that EO 94 violates equal protection clause, usurping the power of Congress, Ombudsman and the Commission on Audit.

Marcos created the ICI to collect pieces of evidence related to flood control projects and other public works anomalies in the last 10 years. The threeman fact-finding committee will then endorse the filing of appropriate charges against the erring government officials and personnel, as well as private contractors to the Ombudsman.

“With the Supreme Court’s decision on the formation of the ICI, the President has shown the people his good will to have

an in-depth investigation into the anomalous flood control projects,” Castro said.

The ICI is currently urging Marcos to appoint new commissioners after its two previous members—SGV & Co. country managing partner Rossana A. Fajardo and former Department of Public Works and Highways (DPWH) Secretary Rogelio “Babes” L. Singson— resigned from the fact-finding panel last December.

The SC also held that the petitioners failed to show that an actual case or controversy exists, which requires a violation of a legally enforceable right.

“The petition did not show that their rights were violated, or that EO 94 adversely affected them,” the SC stressed. With Joel San Juan

Still no fireworks in the Davao City Chinese New Year celebration

By Manuel T. Cayon @awimailbox

DAVAO CITY—It is still a no-no on firework displays as in the past two decades during the celebration of the Chinese New Year here, even if the main festivities will be held alongside the official lighting of the new Bucana Bridge that China has funded.

The City Tourism Operations Office clarified that there will be no fireworks display, including firecrackers or any pyrotechnic devices, when the Chinese community celebrates Chinese New Year on February 16 at the Bucana Bridge.

“The staging of fireworks was

QC.

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hazard-prone areas, but we are also helping resolve the city’s perennial flooding problem,” Aliling said, mostly in Filipino.

The DHSUD said beneficiaries of the two medium-rise buildings will be identified and selected by the Quezon City local government unit.

The housing will be offered under a rental modality as part of the Expanded Pambansang Pabahay para sa Pilipino (4PH) Program, allowing qualified informal settler families to access in-city housing without the upfront costs of home ownership.

The new in-city rental projects mark the second

Anti-mining. . .

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resistance through public statements and social media posts before the police action.

neither discussed nor included in the plans for the celebration,” said Tourism Officer Willento Tormis Jr. He said the traditional Chinese New Year festivities will continue as usual “and must strictly comply with the city’s firecracker ban ordinance, which should not be altered.”

The city passed the firecracker ban ordinance in 2002.

Despite the absence of fireworks, he said the celebration “is expected to be historic as it will be held at the Bucana Bridge, a project funded through China’s Official Development Assistance [ODA] program.”

“This reflects the strong relationship between Davao City and the Chinese community,”

collaboration between the DHSUD and the Quezon City government, following the launch of the Marilag Residences inside the University of the Philippines–Diliman campus, which is expected to benefit around 3,000 individuals.

The DHSUD, however, has yet to disclose how much funding has been allocated for the new in-city rental housing projects in the city.

Beyond Quezon City, the DHSUD said similar in-city rental housing projects are also set to roll out in the cities of Victorias and Iloilo in the Visayas Region.

Aside from housing programs for informal settlers, the Expanded 4PH also includes housing options for the working

While the court acknowledged that the judiciary is not immune to public scrutiny, it said that acts obstructing court orders are not protected by constitutional free speech.

Tulfo. . .

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He highlighted improved legal support for Filipinos on death row, noting that the Department of Migrant Workers (DMW) now has funds to hire “top caliber” lawyers.

“We are confident that unlike in previous years when the lawyers were not very competent, now we have truly

“Contempt proceedings were initiated not for the benefit of any party, but to protect the authority of the judiciary, preserve the orderly administration of justice, and ensure compliance with lawful court orders,” the court said in the order.

Police officers reported

top-caliber lawyers abroad, and we made sure of that during the last budget hearing,” he said.

“We increased the budget for the DMW…so they can defend our compatriots on death row and those with cases.”

Tulfo said the committee expects a busy February, tackling pending treaties and bills, including agreements on extradition, double taxation, and higher education

Tormis added.

The tourism office has begun decorating Quezon Park in front of City Hall, the City Hall compound, the Chinatown area and other parts of the city with red-themed decorations such as Chinese lanterns and large Chinese arches to also serve as photo spots.

The office said the Chinese New Year celebration will be held at the Davao River Bucana Bridge to coincide with the official lighting of the bridge at 6:00 pm on February 16, with the theme “Duyog ug Ambit 2026.”

The 21st City Council has approved the temporary road closures at the Bucana Bridge, with a partial road closure on

class through the Home Development Mutual Fund (Pag-IBIG Fund), which offers subsidized financing with lower interest rates.

In 2025, Pag-IBIG announced that a special 3-percent interest rate would apply to the first five years of housing loans under the Expanded 4PH.

In 2025, Pag-IBIG announced that a special 3-percent interest rate would apply for the first five years of housing loans under the Expanded 4PH.

The subsidized rate is available to eligible first-time homebuyers from the lowest income groups up to the seventh income decile—those earning below P47,856 per month in Metro Manila and P34,686 in other regions.

exercising maximum tolerance during the encounter, but several individuals were arrested for refusing to vacate barricades and physically obstructing law enforcement.

The sheriff confirmed the writ was eventually fully implemented after the barricades were cleared and the equipment was unloaded.

qualifications.

The Senate leadership recently stripped Sen. Imelda Josefa Remedios Marcos of the foreign relations panel chairmanship, saying the post should be held by the majority.

Tulfo, though a neophyte senator, was chosen to assume the role, giving him a pivotal position in shaping Philippine foreign policy amid heightened tensions in the South China Sea.

February 14 to 16, from 1:00 am to 2:00 pm, leaving one lane open for vehicle ingress and rehearsals. On February 16, a full road closure will take effect from 2:00 pm until 9:00 pm. From February 16 to 17, a partial closure will again be enforced, with one lane open to vehicles for egress.

The holding of the celebration at the Bucana Bridge was suggested by Chinese Consul General Zhao Xiuzhen. The People’s Republic of China funded the Bucana Bridge with P3.126 billion through Official Development Assistance (ODA) grant. President Ferdinand Marcos Jr. opened the bridge for public use on December 4 last year.

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and communication services nationwide. Marcos said line workers play an indispensable role in economic growth and should be given commensurate protection. “Because of the risks they are exposed to, they deserve mandatory insurance coverage and adequate benefits,” he said. HB 7239 provides for life, accident, disability, and medical benefits, with insurance coverage ranging from P200,000 for small electric cooperatives to P2 million for workers of the National Transmission Corporation and grid operators. Insurance premiums will be fully shouldered by employers. Both measures will now be transmitted to the Senate for consideration, as lawmakers reiterated their commitment to reliable electricity supply and the welfare of workers who keep the nation’s power systems running.

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No bail was recommended for both charges.

Another warrant was issued by the RTC in Lipa City, Batangas against Ang and 20 police officers for six counts of kidnapping with homicide also in relation to the missing sabungeros.

A similar case was lodged by the DOJ before the RTC in San Pablo City, Laguna, which has yet to issue an arrest warrant against Ang. Lawyer Gabriel Villareal, Ang’s counsel, has assailed the court’s issuance of an arrest warrant against his client, calling it a “premature” decision. Villareal also branded the order for Ang’s arrest as “legally questionable,” insisting that it failed to meet the constitutional standards that should have been observed under the circumstances.

PHL aims to expand agri trade ties with Japan

TBy Ada Pelonia @adapelonia

HE government is asking Japan to tweak protocols for poultry and tropical fruits, such as mango and papaya in its bid to expand the Philippines’s farm exports, the Department of Agriculture (DA) said Wednesday.

Agriculture Secretary Francisco P. Tiu Laurel Jr. said he had recently concluded a ministerial visit to Japan where market access issues for agricultural products were tackled. He did not elaborate on the enhancements in the protocols that he discussed with his Japanese counterparts.

He said he met Japan’s new Agriculture Minister and the Senior Vice President of the Japan International Cooperation Agency (JICA).

“(The Secretary) emphasized the Philippines’s interest in lowering Japan tariffs on fresh bananas while preparing for accession to

NIA completes repair of Nueva Ecija facility

THE National Irrigation Administration (NIA) said it has completed the repair of the Talavera River Super Diversion Canal (SDC) Siphon at the boundary of Barangays Ligaya and San Nicolas, Llanera in Nueva Ecija.

The completed project restored irrigation supply to a total of 39,748.93 hectares, benefitting 26,335 farmers across Nueva Ecija--the top rice-producing province in the Philippines.

NIA said the project was officially commissioned last February 1. The commissioning was led by its chief, Engr. Eddie G. Guillen.

“The Talavera River SDC Siphon is a critical component of the irrigation network serving large portions of Nueva Ecija, widely regarded as the country’s rice granary,” the agency said in a statement.

“Its rehabilitation and commissioning are expected to significantly boost agricultural productivity and directly support the national government’s food security agenda.”

Guillen called on farmer-beneficiaries to help safeguard and properly maintain the facility to ensure its long-term sustainability.

“The commissioning of the Talavera River SDC Siphon marks a major milestone in NIA’s continuing efforts to modernize and rehabilitate critical irrigation infrastructure nationwide—advancing the administration’s commitment to strengthen Philippine agriculture and uplift the lives of Filipino farmers.”

The agency said in 2016 that it was keen on providing irrigation to all arable lands in the country.

Last November, the Senate approved a P50-million allocation for the NIA for transparency measures to allow for quick tracking of each project. The amount is included in its 2026 budget of P54.79 billion.

The proposed budget will allow NIA to invest heavily in national, communal, and pump irrigation systems; major multipurpose projects; and transparency measures, among others, the senator assured.

the Comprehensive and Progressive Agreement for Trans-Pacific Partnership [CPTPP],” the DA said in a statement.

“He also requested new market access for pomelos, expedited entry for Japanese grapes, and enhanced protocols for mango, papaya, and poultry from avian flu-free regions.”

The Philippines had also proposed the expansion of the Memorandum of Cooperation (MOC) to include fisheries. Japan will host the second Philippine-Japan Joint Committee on Agriculture meeting in June 2026. Manila expressed the hope that the amended MOC will be signed this year, marking 70 years of PhilippinesJapan diplomatic normalization.

During the visit, the DA chief secured Japan’s grant aid for a Rice Processing System in NFA Cauayan City, Isabela. The facility, equipped with four 30-metric-ton grain dry -

ers, a 10-ton-per-hour rice mill, and four 1,000-ton silos, will reduce postharvest losses, improve rice quality, and maintain yearround buffer stocks.

The grant agreement is scheduled for signing this month and is for immediate implementation.

The government also requested JICA support for the Philippines’s

priority projects, including integrated Food Logistics Hubs, a nationwide study on basic commodity distribution, modernization of small-scale fisheries, Magat Dam rehabilitation, and expansion of the Market-Driven Vegetable Value Chain project.

The DA chief visited Japan’s advanced logistics hubs for grains,

fish, and meat—including Chita Futo, Yaizu Fish Port, and Tokyo Wholesale Meat Market—to serve as models for the Philippines’s food security and agri-fisheries modernization initiatives.

“The visit underscores the DA’s commitment to deepening relations with Japan, a global leader in agri-fisheries technology and a key market for Philippine exports. Partnerships forged during the meetings are expected to strengthen trade, enhance food security, and modernize the country’s agriculture and fisheries sectors.”

The Philippines enjoys an agricultural trade surplus with Japan based on the latest official government data.

Figures from the Philippine Statistics Authority (PSA) indicated that its agri trade surplus with Japan reached $184.09 million in December 2025 alone, wider than the $70.75 million recorded in 2024.

World Bank: Coffee, fertilizer imports costlier in January

INTERNATIONAL quotations for commodities being traded by the Philippines posted increases in January, according to the World Bank.

Figures from the World Bank indicated that the average price of arabica coffee variety inched up by 2.69 percent to $8.02 per kilo in January from the $7.81 per kilo posted in the same period last year.

The average quotation for fertilizers like DAP and urea, which are key farm inputs imported by the Philippines, also rose on an annual basis.

The price of DAP grew by 6.26 percent to $619.2 per metric ton (MT) from $582.7 per MT in the

reference month, while urea increased by 9.17 percent to $415.4 per MT from $380.5 per MT in the previous year.

World Bank figures also showed that the average price of coconut oil, the country’s top agricultural export, went up by 9.74 percent to $2,197 per MT from last year’s $2,002 per MT.

Meanwhile, the average quotations for metals and minerals also recorded increments on an annual basis in the reference month, according to the report.

The average price of aluminum jumped by 22.11 percent to $3,142 per MT in January from $2,573 per MT recorded last year, while copper quotations surged by 44.72

percent to $13,012 per MT from the previous year’s $8,991 per MT. Iron ore and lead prices also inched up by 5.92 percent and 3.85 percent to $105.5 per dry MT and $1,995 per MT, respectively.

From previous declines, the World Bank noted that the average quotation for nickel increased by 15.43 percent to $17,769 per MT in the reference month from $15,394 per MT in the previous year.

Tin and zinc prices also surged in January by 67.29 percent to $49,538 per MT from $29,612 per MT and 13.98 percent to $3,213 per MT from $2,819 per MT, respectively.

Meanwhile, the World Bank report indicated that the average

quotations for certain farm products being imported by the Philippines registered declines. The average price of cocoa plunged by 53.77 percent to $4.97 per kilo in January from $10.75 per kilo in the same period last year when the crucial chocolate ingredient staged a rally due to tight supply. Robusta prices also averaged $4.24 per kilo in the reference month, down by 21.63 percent from $5.41 per kilo in the previous year. The World Bank said the average price of Vietnam’s 5-percent broken rice fell by 21.48 percent to $351.2 per MT, from last year’s $447.3 per MT. Ada Pelonia

Aquaculture technology centers boost fingerling output

AQUACULTURE technol -

ogy centers have helped increase the production of fry and fingerlings by nearly 10 million in 2025, the Bureau of Fisheries and Aquatic Resources (Bfar) reported on Wednesday.

Bfar recorded a total production of 335.3 million pieces in 2025, up by nearly 10 million from 325.9 million pieces in 2024.

In a statement, Bfar National

Director Elizer Salilig said the production growth directly benefits fish farmers through better access to quality stocking materials and supports higher aquaculture productivity nationwide.

He directed national technology centers and regional offices to sharpen their program focus by identifying lead fish commodities in each region, intensifying field visits, and strengthening the operations of community-

based legislated hatcheries to better support local fish farming communities.

He also encouraged increased private sector investment by showcasing fisheries harvests and productivity.

“With strengthened hatchery operations, focused regional strategies, and stronger partnerships with the private sector, we can further accelerate the growth and productivity of the aquaculture

industry and improve the livelihoods of our fish farmers, a goal which is aligned with the directive of President Ferdinand R. Marcos Jr. on achieving the country’s food security,” he said. Salilig said BFAR remains committed to expanding sustainable aquaculture initiatives as part of the government’s broader efforts to enhance food security, rural development, and fisheries productivity. PNA

Import costs driving Canada food inflation, BOC research says

BANK of Canada (BOC) research suggests the acceleration in food inflation last year was almost entirely due to rising import costs, not domestic factors.

The total annual change in food costs, excluding fruits and vegetables, was 3.1 percent in 2025, and 2.7 percentage points of that increase was due to direct imports, imported inputs and international shipping costs, according to research released Tuesday by the central bank.

“Prices for imported food began rising early in the year, partly due to the significant depreciation of the Canadian dollar in late 2024,” senior economist Olga Bilyk wrote in the report.

The research also singles out rising prices for coffee and confectionery, like chocolate and candy, which were up 31 percent and 14 percent, respectively, at the end of last year.

“Both items were affected by supply shortages—caused by issues such as extreme weather—

and trade tariffs,” Bilyk said. Last year, United States President Donald Trump put major tariffs on imports from Brazil—including beef and coffee—though he’s started to reverse the levies as his administration faces pressures to cut the cost of everyday goods. Canada and the US have closely connected food supply chains, with many Canadian importers sourcing from US wholesalers and warehouses.

For several months last year, Canada also put retaliatory tariffs on some US food items, including coffee and orange juice.

The Bank of Canada analysis excludes fruits and vegetables because their prices are volatile, reflecting frequently changing weather conditions.

Food prices rose by 6.2 percent between December 2024 and December 2025, according to data released last month by Statistics Canada, the fastest pace of increase in the Group of Seven.

Though that figure is also being temporarily distorted by a

base - year effect tied to last winter’s goods and services tax (GST) holiday, Conservative Leader Pierre Poilievre has used the data to sharpen his attacks on the government’s affordability record.

“The Liberals keep denying that their policies drive up grocery bills, but Canadians know this is a made-in-Canada problem,” the

Conservative Party of Canada said in a news release Tuesday.

“Hidden Liberal taxes raise the cost at every step of the supply chain, from farm equipment and fertilizer to shipping and selling,” it said.

Last week, Prime Minister Mark Carney announced that his government plans to boost a GST credit for low- and moderate-income Canadians to help with the rising cost of living, calling it the Canada Groceries and Essentials Benefit.

The expanded benefits include a one-time transfer to eligible Canadians this year, and an increase in the annual credit over a five-year period. On Monday, the parliamentary budget officer estimated the total cost of the program to be C$12.4 billion ($9.1 billion) by 2030-31.

Rising food costs are hitting some Canadians particularly hard, with Statistics Canada data showing households in the lowest-income quintile spent about 27 percent of their disposable income on food and non-alcoholic beverages. That compares to less than 5 percent for the country’s highestincome quintile. Tuesday’s research is part of the central bank’s new publication, called Sparks at Bank, but does not represent the opinion of the bank’s governing council. At the same time, Governor Tiff Macklem has also flagged global weather-related crop losses and supply disruptions as adding to food inflation pressure. In December, he said that some of those forces—including US coffee tariffs and weak harvests— may ease in the months ahead. Bloomberg

Walking the tightrope: Rooting out corruption without stalling growth

THE figures from the Department of Budget and Management are sobering: a 45.2 percent year-onyear drop in infrastructure spending for November 2025, and a 16 percent contraction for the year to date. This paints a clear picture of an economic engine slowing down. The cause is no mystery: the ongoing, vital investigation into corruption allegations at the Department of Public Works and Highways. (Read the BusinessMirror story: “Govt infra spending plunges by 45% in Nov,” February 2, 2026).

The crackdown is not just warranted; it is overdue. Systemic corruption is a tax on the poor and a thief of the nation’s future. It steals from the public coffers, delivers substandard infrastructure, and erodes the very foundation of trust in government. However, the figures reveal a dangerous and unintended consequence: the fight against graft is crippling the very investments needed to propel the economy forward.

As noted by PIDS senior research fellow John Paolo R. Rivera, this is a classic “governance shock” translating into “real economic drag.” Projects are stalled, contractors are unpaid, and the powerful economic multipliers of construction—jobs, regional development, and private sector activity—are grinding to a halt. The nation is caught between the imperative to purify a corrupted system and the urgent need to build, employ, and grow.

This presents a critical test of governance. The goal cannot be mere punishment; it must be transformation. The state’s challenge is to demonstrate it can investigate decisively while executing competently. A paralysis in public investment is a victory for no one, least of all the citizens waiting for roads, bridges, and the jobs they bring.

Therefore, we urge a balanced, proactive, and transparent approach: First, prioritize continuity in legitimate projects. As Rivera suggests, routine maintenance, rehabilitation, and vetted local projects must continue unimpeded. The government must create a clear “green lane” for non-controversial, essential works, insulating them from the broader freeze. This protects jobs and maintains basic infrastructure functionality.

Second, accelerate procedural reforms alongside the probe. The investigation must be paired with an immediate and visible strengthening of procurement safeguards. Digital tracking of projects from bidding to completion, mandatory transparent bidding portals, and independent, real-time audits should be fast-tracked. These are not just long-term goals; they are the necessary tools to restart spending with greater accountability. The DBM’s note on unutilized funds underscores this: agencies must be compelled and assisted to meet stricter requirements efficiently.

Third, communicate with clarity and urgency. The public and the business community need a roadmap. What is the timeline for resolving the probe? What are the new, stricter rules for project approval and payment? Ambiguity breeds fear and prolongs stagnation. The government must communicate that the era of “business as usual” in corrupt deals is over, but the era of accelerated, clean building is beginning.

The decline in overall November disbursements shows that the DPWH shockwave is affecting the wider fiscal landscape. While increases in LGU allotments, personnel services, and education spending are positive, they cannot offset the dramatic collapse in capital outlays, which are the bedrock of future growth.

The message must be clear: We are not stopping building; we are starting to build right. The anti-corruption drive is essential medicine, but the patient— the Philippine economy—cannot be allowed to wither during treatment. The government’s task now is to perform the delicate surgery of rooting out corruption without amputating the limbs of progress.

BusinessMirror

When Greenland met Mindanao

IJohn Mangun

OUTSIDE THE BOX

T began with Erik the Red, who famously named a frozen land “Greenland” because, as he admitted, “it would encourage people to go there that the land had a good name.” The tactic worked. A misleading label helped sell a hard reality.

More than a thousand years later, the language has changed, but the instinct has not. President Trump recently declared that “Nato becomes far more formidable and effective with Greenland in the hands of the United States. Anything less than that is unacceptable.” The statement reflects a long tradition of powerful states viewing distant places less as homes to real people and more as assets to be acquired, traded, or leveraged.

There is a popular assumption that the modern world map was drawn with care, strategy, and foresight. In reality, many borders and territorial arrangements were the result of opportunism, prestige, and elite deal-making conducted far from the lands involved. Geography was often treated like inventory.

A striking example comes from 1910. The US ambassador to Denmark, Maurice Francis Egan, proposed an extraordinary territorial exchange. Concerned about a rising power bloc in Asia involving Russia, Japan, and China, Egan believed the US needed stronger strategic positioning including some ice in the Atlantic and some sand in the

Caribbean. His solution was to acquire Greenland and the Danish West Indies by offering up someone else’s territory in return.

Egan proposed handing Mindanao to Denmark. Denmark, in turn, would immediately transfer Mindanao to Germany. Germany would compensate Denmark by returning Schleswig, a territory Denmark had lost in its 1864 war with Prussia. Egan justified this plan by claiming it reflected “the desires and opinion of some of the best minds in Denmark, and some of them most highly placed.”

What stands out is how casually Mindanao was treated. For Egan, it was not a populated island with a long history of resistance to outside rule. It was a bargaining chip. The fact that the US was already struggling to suppress the Moro Rebellion barely registered.

This mindset was not new. The Philippines had already been traded like a Gladiator on the auction block.

When British forces occupied Manila in 1762 during the Seven Years’ War, Spain faced the loss of its most important Asian colony. Under the 1763 Treaty of Paris, Spain recovered

History turned out differently. Greenland remained Danish. Mindanao remained Filipino. Had Egan succeeded, Southeast Asia might have been fractured by a German colonial possession wedged between the American Philippines and the Dutch East Indies. The consequences would likely have been destabilizing for everyone involved, including Germany itself.

Manila only by surrendering Florida to Britain. For a brief moment, the future of the American Southeast was directly tied to the fate of Intramuros.

More than a century later, another Treaty of Paris followed the SpanishAmerican War. In 1898, Spain sold the archipelago to the US for $20 million. Roughly seven million people changed sovereign rulers without a single Filipino representative at the negotiating table.

Egan’s proposal ultimately failed because then as now, Denmark was unwilling to part with Greenland, viewing such a sale as a loss of national prestige. While Denmark later sold the Danish West Indies to the US in 1917, it did so only after securing American recognition of its control over all of Greenland, a territory then disputed by Norway and Sweden.

Indonesian bond demand hits one-year low after MSCI kerfuffle

By Prima Wirayani

DEMAND for Indonesian government bonds weakened to its lowest in about a year, after investability concerns raised by MSCI Inc. about the nation’s stocks spilled over into broader markets.

The government sold 36 trillion rupiah ($2.1 billion) of debt at Tuesday’s auction, according to the Ministry of Finance’s debt management office. Although the sale exceeded the indicative target, the bid-totarget ratio dropped to 2.32, the lowest since

MSCI’s warning about transparency in equity holdings last week caused stocks to suffer their steepest drop since the Asian Financial Crisis. Foreign investors sold a net $202 million of Indonesian bonds on Wednesday and Thursday, before officials rushed to announce market-reform plans, helping to calm the market and bring back bond inflows.

This episode reveals a recurring flaw in elite strategic thinking. Diplomats and policymakers often place enormous faith in abstract expertise while discounting realities on the ground. Egan and his circle of “best minds” imagined Mindanao as a clean transfer on paper. They ignored the logistical, political, and human costs of ruling a tropical island already in rebellion.

The same logic shaped much of Africa’s colonial map. European powers drew borders using straight lines or rivers, paying little attention to ethnic boundaries, trade networks, or historical rivalries. Entire communities were split apart, while others with long-standing conflicts were forced into single political units. The instability that followed independence was not accidental. It was built into the map.

High imperialism treated land as something that could be rearranged without consequence, as long as the balance sheets of power looked right. Rarely did decision-makers pause to consider whether a territory was governable, whether resistance was likely, or whether the people living there had any say at all. That lesson matters today. When modern leaders talk about acquiring or controlling places like Greenland in purely strategic terms, they echo an old habit. Names, maps, and slogans may change, but the danger remains the same: treating real places as abstractions, and real people as a collateral inconvenience.

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History turned out differently. Greenland remained Danish. Mindanao remained Filipino. Had Egan succeeded, Southeast Asia might have been fractured by a German colonial possession wedged between the American Philippines and the Dutch East Indies. The consequences would likely have been destabilizing for everyone involved, including Germany itself.

Shipping firms face tough 2026 as reopening of Red Sea looms

By Chloé Meley & Rachel Yeo

GLOBAL container liners are bracing for lower profits in 2026 as the potential reopening of the Red Sea shipping route weighs on freight rates, exacerbating oversupply issues and aggravating trade pains.

Denmark’s A.P. Moller-Maersk

A/S, Germany’s Hapag-Lloyd AG, Japan’s Nippon Yusen KK and Chinese liners Orient Overseas International Ltd. and Cosco Shipping Holdings Co. are all expected to report weaker earnings in 2026 after an already difficult 2025 marked by tariff turmoil. A resumption of traffic through the Red Sea would exacerbate existing “structural overcapacity issues,” analysts at Bank of America said.  Supply continues to expand at a record pace, with a projected 36 percent surge in new vessel capacity from 2023 to 2027, according to Bloomberg Intelligence analyst Kenneth Loh. On the flip side, demand for container shipping is expected to contract 1.1 percent in 2026, assuming container liners make a complete return to the Red Sea, he added. Global liner rates are on a downward trajectory, falling 4.7 percent to $2,107 per 40-foot container in the week ended January 29, according to the Drewry World Container Index.  Though not guaranteed, a restart of Red Sea shipping is becoming a more likely prospect now that Maersk has made two successful passages for the first time since Yemen-based Houthis began attacking vessels in 2023.  HSBC analyst Parash Jain previously expected that Red Sea disruptions lasting until at least mid-2026 would mean a 9 percent to 16 percent drop in freight rates this year. Now, with Maersk’s return to the Red Sea hinting at a faster-than-expected transition to normalcy, HSBC said there could be a further 10 percent decline that would push Maersk and Hapag-Lloyd into losses.

A rapid resumption of traffic may at first cause port congestion in Europe, which would support rates, according to Jain. A reopening as Western economies look to restock inventory in the first half of 2026 may also initially help rates, Citi analysts led by Kaseedit Choonnawat said. Rates would then stabilize lower, with Maersk set to issue “soft” 2026 profit guidance and cut its share buybacks by 50 percent, according to BofA. The Danish shipper is expected to post its first annual loss since 2017 this year, consensus shows.

Major carriers are treading with caution for now, hesitant to overhaul their networks when a sudden shift in Houthi activity may force a total reversal overnight, according to Drewry Shipping Consultants’ Arya Anshuman and Simon Heaney.

Supply continues to expand at a record pace, with a projected 36 percent surge in new vessel capacity from 2023 to 2027, according to Bloomberg Intelligence analyst Kenneth Loh. On the flip side, demand for container shipping is expected to contract 1.1 percent in 2026, assuming container liners make a complete return to the Red Sea, he added.

Musk’s SpaceX combines with xAI at $1.25 trillion valuation

By Loren Grush, Ed Ludlow & Liana Baker

ELON MUSK is combining SpaceX and xAI in a deal that values the enlarged entity at $1.25 trillion, as the world’s richest man looks to fuel his increasingly costly ambitions in artificial intelligence and space exploration.

The acquisition of xAI was announced in a statement on SpaceX’s website signed by Musk and confirming a Bloomberg News report earlier Monday.

The deal gives SpaceX a valuation of $1 trillion, and xAI a value of $250 billion, people familiar with the matter said. The combined company’s valuation was announced to employees in a memo on Monday, some of the people said earlier.

SpaceX said it acquired xAI to “form the most ambitious, verticallyintegrated innovation engine on [and off] Earth, with AI, rockets, spacebased internet, direct-to-mobile device communications and the world’s foremost real-time information and free speech platform.”

asked not to be identified as the information isn’t public. The deal is all stock, one of the people said.  Representatives for SpaceX and xAI didn’t immediately respond to requests for comment.

The deal brings together two of the largest closely held companies in the world. XAI raised funds at a $230 billion valuation in January, while SpaceX was set to go ahead with a share sale in December at a valuation of about $800 billion.

Terms of the offering including price and valuation weren’t disclosed in the statement on SpaceX’s website.

The acquisition of xAI was announced in a statement on SpaceX’s website signed by Musk and confirming a Bloomberg News report earlier Monday. The deal gives SpaceX a valuation of $1 trillion, and xAI a value of $250 billion, people familiar with the matter said. The combined company’s valuation was announced to employees in a memo on Monday, some of the people said earlier.

to launch as many as a million satellites into the Earth’s orbit for the plan, according to a filing Friday.

The offering further entangles Musk’s various business ventures.

The billionaire acquired social media platform Twitter in late 2022, renamed it X, then merged the site with his artificial intelligence startup xAI in a $33 billion deal.

The increasing revenue it’s generating from the Starlink network of more than 9,000 satellites is even more significant, now outpacing launch sales and presenting a potential source of funding for xAI’s capital-intensive business.

While Maersk has recently started voyages, CMA CGM SA reversed its decision to use the same route after having previously returned three services through the waterway. “That highlights how volatile and unpredictable the situation in the region is,” BI’s Loh said.  Peers in Asia face similar challenges. A complete reopening of the Red Sea route will be “the wild card” to watch in Asian shipping this year—more so than tariffs given the US-China trade truce and ongoing decoupling of the two economies, according to Loh.

For Japanese liners like Nippon Yusen, profitability pressure in the container business will mainly come from oversupply and tariff uncertainty, Jefferies analyst Carlos Furuya wrote in a note.

Privately owned Ocean Network Express — a container shipper jointly owned by Nippon Yusen, Mitsui OSK Lines Ltd. and Kawasaki Kisen Kaisha Ltd.—reported a net loss of $88 million in its fiscal third quarter last week, citing the increase in new ships and slow cargo movement on routes from Asia to both North America and Europe. It expects vessels will continue to route via the Cape of Good Hope, leading to a “modest uptick” in fourth-quarter rates.

Asian shipping carriers may be better positioned than their European peers on margins, as they benefit from stronger regional demand and more resilient spot rates compared with global averages, according to Drewry’s Anshuman and Heaney.

“Intra-Asia trade benefits from greater operational stability, as it is less exposed to geopolitical disruptions such as tariffs and security risks in the Red Sea, which continue to affect major global trade lanes like Transpacific and Asia–Europe,” they said. With assistance from Weilun Soon/ Bloomberg

“Cargo owners are also wary of putting valuable goods at risk and are now well used to longer transits, while ports will not be able to cope with a sudden arrival of ships enmasse,” they said.

The company is still expecting to hold an initial public offering later this year, one of the people said. SpaceX had been planning an IPO that could raise as much as $50 billion, in what would be the biggest initial share sale to date.

The combined firm’s shares are expected to be worth $526.59 each, according to some of the people, who

In explaining the rationale for the deal, Musk said in the statement that the least expensive way to do AI computations within two to three years will be in space.

“This cost-efficiency alone will enable innovative companies to forge ahead in training their AI models and processing data at unprecedented speeds and scales, accelerating breakthroughs in our understanding of physics and invention of technologies to benefit humanity,” he wrote.

SpaceX is requesting permission

XAI, which also operates chatbot Grok, is an expensive operation, burning around $1 billion a month in service of its stated ambition to gain “a deeper understanding of our universe.”

A merger with SpaceX pools capital, talent, access to computing power—and blurs corporate boundaries.

Global funds shun Thai markets on election risks, policy stasis

By Matthew Burgess & Eduard Gismatullin

THAILAND’S inability to revive its economy has left its stocks and bonds in an unenviable position: cheap, unloved and increasingly irrelevant.

Some of the world’s biggest money managers say this weekend’s general election is prompting them to keep exposure limited, as the outcome will only compound existing challenges like elevated household debt and weak growth. Those pressures helped make Thai stocks among the worst performers globally last year and its bonds trailing most emerging market peers in 2026.

The sentiment reflects little confidence that the country’s fourth leader in three years will deliver the reforms needed to reverse weak governance and policy drift. As a result, the yield curve may steepen further, driven by interest rate cuts and government spending expectations, while equities stay depressed as capital flows elsewhere, investors say.

“Thailand does look cheap in terms of valuations,” said Christopher Leow, chief investment officer at Principal Asset Management in Singapore. “But looking cheap is probably not enough.”

Among investors, T. Rowe Price Group Inc. says it has scaled back bond holdings ahead of elections

Vietnam eases rule for foreign investors ahead of market upgrade

By Nguyen Kieu Giang

VIETNAM will allow foreign investors to trade through global brokerages directly instead of with local firms, a step aimed at improving market accessibility as the country prepares for an upgrade to emerging-market status from FTSE Russell.

preserving regulatory oversight, according to the regulation, which took effect February 3.  The Southeast Asian nation in October clinched a long-awaited upgrade from frontier status by FTSE Russell. The reclassification will officially take effect in September, sub-

ject to a March review. Officials also aim to win a similar promotion from MSCI Inc. by the end of the decade.

The new regulation also stipulates that there are no limitations on the types of securities eligible for non-prefunding trading. This move would help “ease operational constraints for index tracking and benchmark replicating,” Hung said.

Foreign securities investment fund management companies are also permitted to open two trading accounts, one for proprietary trading and another for client asset management, according to the statement. This clarification enhances transparency, improves risk segregation and supports more effective supervision of foreign asset managers operating in Vietnam. Bloomberg

and remains cautious on local currency debt, with the firm watching for the direction of policy before they add to their positions. Allianz Global Investors says its allocation is broadly underweight, but would consider shifting positions into the longer end of the yield curve.

Aberdeen says that it favors defense stocks and exporters that limit exposure to the Thai economy, adding that policy execution could be uneven if the vote results in a fragile coalition government.

“For lasting investor confidence, the election is only the starting point,” said Nattanont Arunyakananda, an investment manager at Aberdeen in Bangkok, adding the outlook hinges on credible reforms and fiscal and monetary support. “Without reforms that lift productivity and improve investment climate, any post-election bounce is likely to remain tactical rather than structural.”

Over the past three elections, the benchmark Stock Exchange of Thailand Index has gained an average of 3.3 percent in the one-month period following a vote.

The sentiment reflects little confidence that the country’s fourth leader in three years will deliver the reforms needed to reverse weak governance and policy drift. As a result, the yield curve may steepen further, driven by interest rate cuts and government spending expectations, while equities stay depressed as capital flows elsewhere, investors say.

The worries are reviving debate over the role of Thai assets in international portfolios. Long favored for their exposure to global growth and diversification benefits, the nation’s assets have fallen out of favor amid a sluggish economy, weak tourism and recurring political unrest.

One concern is the expected pickup in debt issuance to fund financial relief promised by leading political parties as the central bank forecasts economic growth of just 2.2 percent in 2025, trailing regional peers. The government has already approved a $1.4 billion food and services subsidy program, and additional pledges have helped push the gap between the nation’s two- and 10-year bond yields to the widest since October 2023.

“We’ll be looking for them to invest into unleashing the potential of

Following the announcement of the acquisition, SpaceX also noted that one of its Falcon 9 rockets suffered an undisclosed issue after launching a batch of Starlink satellites into orbit. The company said that while the upper port of the rocket safely deployed all the satellites on board, a mishap occurred just before the vehicle was set to take itself out of orbit.

The incident marks a relatively rare misstep for the Falcon 9, which last suffered in an-flight issue in 2024. “Teams are reviewing data to determine root cause and corrective actions before returning to flight,” SpaceX said in a statement on X. With assistance from Shona Ghosh, Olivia Solon, Kurt Wagner, Richard Clough and Sana Pashankar/ Bloomberg

Unlike some of Musk’s other ventures, SpaceX stands out as arguably his most successful and consistent business. The company, the only American one that can routinely send astronauts to and from the International Space Station, is a key rocket launch provider for both NASA and the US Department of Defense, which the White House has moved to rename the Department of War.

the economy,” said Leonard Kwan, a portfolio manager at T. Rowe Price in Hong Kong. Thailand has some capacity to spend but the key question is effectiveness in how they utilize it, he added.

Even so, some signs of value are emerging. Thai stocks trade at around 14 times forward earnings, which is below the five-year average and a gauge of regional peers. A steepening yield curve may also offer opportunities at the long end, with higher fiscal spending expectations becoming priced in.

BlackRock Inc. holds less exposure compared to a year ago, but has recently started buying more bonds with longer maturities, according to Navin Saigal, Asia Pacific head of fundamental fixed income in Singapore. Investors are watching whether meaningful reforms will follow the vote or be watered down, as government formation often forces compromise. The constant churn of political leadership is also dimming hopes for lasting change, with early post-election market rallies often fizzling out.

“With no clear majority for any single party in sight, it’s hard to envisage a sharp turn in investor confidence,” said Wai Kiat Soh, a portfolio manager at Ninety One in Singapore. “The ‘muddle-through’ scenario will likely play out once again.” With assistance from Marcus Wong/Bloomberg

Steeper discounts on Russian oil test India response to US deal

By Rakesh Sharma

DISCOUNTS on Russian oil being offered to Indian refiners have widened over the past 10 days, raising the question of whether processors will be encouraged to snap up cargoes despite a trade agreement with the US that hinges on lower purchases.

Russia’s flagship Urals grade is being offered at more than $10 a barrel below Brent, inclusive of shipping and other costs, traders involved in the purchases said, asking not to be named as the information isn’t public.

According to market intelligence firm Argus, which puts discounts at around $11 a barrel, the figure stood at $9.15 until January 22. The current markdown is also at least three times the level quoted by traders before the US sanctioned

Russian producers Rosneft PJSC and Lukoil PJSC last October. Discounts can vary depending on payment conditions.

President Donald Trump announced on Monday that the US would cut import tariffs on Indian goods in exchange for India ceasing to take Russian oil. While Prime Minister Narendra Modi confirmed the pact, he didn’t comment specifically on crude or other details, leaving refiners to pause purchases and seek clarity from New Delhi.

India, not traditionally a major buyer of Russian oil, turned to the producer after the invasion of Ukraine in early 2022—driven by discounts. Purchases have eased over recent months but still averaged around 1.2 million barrels a day in January, according to Kpler, compared with a peak of 2 million barrels a day.  India is “unlikely to fully disengage” from Russian oil in the near term, Kpler said in a note on Tuesday. Imports are expected to remain broadly stable in the 1.1 million to 1.3 million barrels a day range through the first quarter and early into the next, the data intelligence firm said. Kpler put Urals discounts at around $9 a barrel to ICE Brent to India, some $4 to $5 cheaper than Venezuelan barrels. Bloomberg

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BusinessMirror

Office market nears levels before Pogo peak–report

By Rizal Raoul S. Reyes

THEoffice market has effectively “normalized,” with annual net demand and new supply nearing levels last seen before the rise of the Philippine offshore gaming operators (POGOs), according to a major property consulting firm.

In a breakfast forum held on Wednesday held in Quezon City, Colliers Philippines research director Joey Roi Bondoc said Metro Manila saw a 13-percent year-on-year increase in office transactions, totaling 847,000 sqm by the end of 2025.

“Demand was primarily propelled by government agencies and traditional firms, which accounted for 65 percent of the transaction volume. Large deals for shared services also saw a 67-percent increase in volume,” Bondoc pointed out.

with 327,000 square meters.

According to Colliers Philippines data, the overall Metro Manila vacancy rate stood at 19.4 percent at the end of 2025. Rents remained largely flat, with only marginal increases in primary central business districts (CBDs) like Fort Bonifacio (0.9 percent) and Makati CBD (0.5 percent).

“Government and traditional firms drove office demand, large deals for shared services,” he said.

PCCI BACKS BIR’S NEW AUDIT FRAMEWORK AS LOA RETURNS

By Ada Pelonia

THE Philippine Chamber of Commerce and Industry (PCCI) on Wednesday expressed support for the Bureau of Internal Revenue’s (BIR) new audit framework.

operations, and ensures efficiency through the automatic consolidation of multiple eLAs into one LOA.”

The PCCI made the pronouncement after the BIR issued Revenue Memorandum Circular (RMC) 8-2026 and Revenue Memorandum Order (RMO) 1-2026, which lift the suspension on enforcement activities and introduce a modernized audit framework to strengthen transparency, predictability, and fairness in tax administration.

The PCCI expressed support for some of the key reforms, such as objective selection criteria, rationalization of enforcement authority, and protection of due process.

“These reforms strengthen the principles of fairness and accountability,” PCCI Director for Taxation Alfredo Yao said. “By requiring transparency in taxpayer interactions and eliminating redundant audit units, the BIR is sending a strong signal that it values both efficiency and integrity.”

Despite global and local headwinds, the market is entering 2026 with cautious optimism, driven by steady demand from traditional occupiers and a significant influx of luxury residential projects.

The peak of the POGOs was experienced in 2018 and 2019, with 1.45 million meters and 1.52 million square meters, respectively. During the peak of the Covid-19 pandemic in 2019, POGO demand experienced a sharp decline

Furthermore, Bondoc said the Philippine property market concluded 2025 with a “strong finish,” characterized by a return to pre-POGO (Philippine Offshore Gaming Operators) transaction levels in the office sector and a stabilizing residential landscape.

Low local yield seen to trigger bigger rice imports in ’26

By Ada Pelonia

THE Philippines will still import rice in large quantities this year due to the inability of domestic output to keep pace with rising demand for the food staple, an international report said.

The United States Department of Agriculture-Foreign Agriculture Service (USDA-FAS Manila) said the Philippine rice industry will continue to bank on imports despite the government’s broadened Rice Competitiveness Enhancement Fund (RCEF).

“FAS-Manila estimates rice imports to remain robust through the rest of Marketing Year [MY] 2025/26, as a rising population continues to drive demand,” the agency said.

“This increasing demand, combined with limited growth in domestic production despite the expanded RCEF, will result in a persistent and growing production-consumption gap, requiring the Philippines to rely on imports to meet domestic needs.”

The USDA-FAS Manila also warned that compounding factors, such as the peso’s depreciation and the slide in foreign rice quotes, could blunt government efforts to protect farmers while also shielding consumers from elevated retail prices.

“The new price-indexed tariff system is intended to stabilize retail prices and protect consumers; however, declining international prices for Vietnam 5 percent broken rice [...] may depress farmgate prices and reduce incentives for local producers, further constraining domestic output.”

In 2025, the government issued Executive Order (EO) 105, stipulating that rice tariffs would be adjusted by 5 percentage points per 5 percent ad-

justment in international prices, subject to a minimum rate of 15 percent and a maximum rate of 35 percent.

Under the guidelines, Vietnamese 5-percent broken rice should reach the trigger price of $367 per metric ton (MT) to raise the tariffs to 20 percent. The trigger price for the 25-percent tariff is $349 per MT; 30-percent tariff, $331 per MT; and 35 percent, $315 per MT.

“At the same time, continued depreciation of the Philippine peso is expected to increase the cost of imports, affecting import prices for both rice and farm inputs [e.g., fertilizer], which could put additional upward pressure on retail prices,” the agency said.

“As a result, these interconnected factors lead [USDA-FAS Manila] to project that the Philippines will remain dependent on rice imports for the rest of MY 2025/26 to address supply gaps.”

Earlier, an official from the Department of Agriculture (DA) said the government will likely retain the 15-percent tariff on rice in the first quarter as current world market prices do not warrant a raise in import levy. (See: https://businessmirror.com.ph/2026/01/28/govt-tomaintain-tariff-on-rice-importsuntil-end-march/)

Agriculture Assistant Secretary Arnel de Mesa said the tariff on the food staple is still at 15 percent as the average quotations for the benchmark Vietnamese 5 percent broken have not yet reached the required trigger price of $367 per MT to raise the tariff to 20 percent.

Latest government data showed that rice arrivals reached 317,410 MT in January, higher than the 279,940 MT posted in the same period last year.

He said Fort Bonifacio is preferred by multinational organizations and outsourcing companies because of the planned redevelopment of the Bonifacio Global City, construction of the Metro Manila Subway station and the redevelopment of the Fort Strip and MC Depot.

Outside Metro Manila, Cebu remains a powerhouse, with transaction volumes jumping 70 percent year-on-year to 121,000 sqm. The Cebu IT Park and Cebu Business Park were the top destinations of investors with a total stock of 599,000 square meters and 445,000 square meters, respectively.

The residential market is witnessing a shift toward premium developments as developers focus on highyield luxury segments.

Bondoc said new supply in 2026 is expected to nearly double compared to 2025, with approximately 13,000 condominium units scheduled for turnover. Luxury projects will account for 22 percent of total turnovers in 2026, featuring high-end projects like the Robinsons Land and Shangri-la Properties joint venture Aurelia Residences in Fort Bonifacio (averaging 530k/sqm) and Arthaland’s Eluria in Makati CBD (averaging P 510k/sqm).

Bondoc said the “unsold inventory life”—the time needed to absorb current stock—dropped to 7.9 years from 13 years, a record high earlier in 2025, signaling improved absorption.

In terms of overall vacancy, Metro Manila residential vacancy was 24.7 percent at the end of 2025, with a slight improvement expected in 2026 for most areas except the Bay Area.

The real estate sector’s performance is underpinned by a “tempered economic expansion.”

“Colliers remains cautiously optimistic for the coming year. Key factors to monitor include the continued easing of office space surrenders, which is expected to lower overall vacancy to 18.9 percent by the end

The group said RMC 8-2026 signals the resumption of audit and field operations, including Electronic Letters of Authority (eLAs), Mission Orders, and Tax Verification Notices.

PCCI, however, stressed that the “real breakthrough” lies in the safeguards and procedural reforms introduced under RMO 1-2026.

“The adoption of the Single Instance Audit Framework—‘One LOA per taxpayer per year’—is a game-changer,” PCCI President Perry Ferrer was quoted in the statement as saying.

“This policy consolidates all internal revenue tax types, including VAT, into a single authority. It rationalizes the audit process, minimizes disruption to business

PCCI stressed that the reforms would create a climate of mutual trust between government and the private sector.

“A predictable and transparent tax environment encourages voluntary compliance and builds confidence among businesses,” PCCI Tax Committee Chairperson Benedicta Du-Baladad said.

“We believe these measures will contribute to a more stable and competitive business climate in the Philippines,” she added. The PCCI said it looks forward to the “consistent implementation of these policies” and reaffirmed its commitment to working closely with the BIR to ensure that reforms translate into tangible improvements in the ease of doing business.

Senate ‘coup’ fizzles out; term sharing eyed

By Butch Fernandez

WHAT was touted in social media as a “coup” installing Sen. Loren Legarda as the country’s first female Senate President fizzled out on Wednesday, with senators emerging from a closed-door meeting saying they had effectively agreed to a “term-sharing” plan. Senate President Vicente Sotto III, who earlier said he would have no problem stepping down if his rival had the numbers, later told

reporters, “Plano naming paupuin si Loren before the 20th Congress ends,” meaning, before 2028. The past three days had seen the grapevine abuzz with word of a supposed coup plan to install either Legarda or Minority Leader Alan Peter Cayetano. Many of those associated with the supposed coup plan are known to be supporters of former President Rodrigo Duterte, whose daughter, Vice President Sara Duterte, is facing a fresh impeachment complaint in the House.

According to Sen. JV Ejercito, a term sharing “between SP Sotto and Senator Loren” was informally agreed upon during the senators’ “lounge talk,” which he said concluded with, “all’s well that ends well; walang away kung sakali; parang yun yung lounge talk, nothing formal.” He added, in Filipino, that the discussion was on a “happy” tone. Sen. Juan Miguel Zubiri, the majority leader, was asked why he called Legarda earlier “Madam President” when she was asked to preside at the

session, and Zubiri replied, “cause she may be the future President of the Senate. We’ll see.” On Monday, Senate President Pro Tempore Panfilo Lacson had described as “malicious” and “cruel” attempts to link Legarda to

Editor: Jennifer A. Ng

Globe earnings dip on hike in interest expenses in ‘25

By Lorenz S. Marasigan @lorenzmarasigan

GLOBE Telecom Inc. reported a slight dip in net income in 2025, even as it delivered record revenues on the back of sustained demand for data and digital services.

The Ayala-led telecommunications firm said net income after tax for the full year reached P23.3 billion, down 4 percent from P24.3 billion in 2024, weighed down by higher depreciation and interest expenses tied to continued investments in network expansion and digital infrastructure.

This includes one-time gains from the deemed disposal of Mynt, the operator of GCash, shares and gains from tower sale and leaseback transactions.

Globe posted record consolidated service revenues of P165.1 billion for 2025, flat from the P165 billion in 2024, maintaining its growth trajectory despite persistent inflation and severe natural calamities that disrupted connectivity in several regions during the year.

“Coming off a record 2024, we gathered momentum in the last three quarters following a soft start and delivered a record performance in 2025, reaffirming the strength, and adaptability of our core business,”

Globe President Carl Cruz said.

Data-related services remained the primary growth driver, accounting for 88 percent of total consolidated service revenues in 2025, up from 86 percent in 2024.

Globe’s mobile business delivered a record P116.9 billion in service revenues, slightly higher than the P116.7 billion in 2024, with the company ending the year with 65.8 million mobile subscribers, up 8 percent from 60.9 million a year earlier.

Mobile data revenues alone climbed to a record P101.2 billion, up 4 percent from P97.4 billion the previous year, while the home broadband business generated P24.0 billion, up 1 percent from P23.8 billion, and corporate data posted P20.7 billion, up 1 percent from P20.4 billion.

Globe’s total operating expenses declined 1 percent year-on-year to P77.5 billion from P78.2 billion, reducing costs on marketing and subsidy, provisions, service costs,

and staff expenses. These savings partially offset higher interconnect costs, lease expenses, and repairs and maintenance.

Core net income, which excludes non-recurring items such as gains from asset disposals and foreign exchange movements, amounted to P20.9 billion in 2025, down 3 percent from P21.5 billion in the previous year.

“The sustained pace across mobile, broadband, and corporate data, coupled with disciplined cost management, enabled us to achieve positive free cash flow while continuing to invest in network quality and customer experience,” Cruz said.

Globe streamlined its cash capital expenditures to P46.2 billion in 2025, down 18 percent from P56.2 billion in 2024.

For 2026, Globe anticipates “low to mid single-digit” revenue growth. Capital expenditure is expected to stay below $1 billion.

ALI mulls over return to capital market

AYALA Land Inc. (ALI) said it is not rushing to go to the capital market this time given current uncertainties.

However, company CFO Jose Eduardo A. Quimpo II said ALI remains keen on tapping the market this year as it would need to refinance its maturing debts.

“This year, we have about close to P20 billion in maturities,” he said. “No, there’s no real rush to come out to the market to be able to issue. This year, you’ll see when we’ll refinance. We’ll just time it based on our refinancing (schedule).”

The sustainability bond program, he said is good for the company, as Ayala Land has already raised some $1 billion from sustainability-linked finance deals in the past months.

“That’s something that we want to continue to do.”

“Sustainability program is good for us. We’re starting to see that there’s really tangible benefits for us, especially when we do financing.

It’s something our clients want, it’s something our investors are looking for. For us, it’s a no-choice. I mean, it’s the way we do business now. It’s part of our business.”

Ayala Land first launched its sustainability-linked financing in 2024, through 2025.

Anna Ma. Margarita B. Dy, the company’s president and CEO, said she is “in general, bullish” on the company’s prospects for the year. She did not elaborate.

The company said it will continue to explore opportunities to expand its land bank, mainly in prime locations where supply is tight.

Quimpo said the company may be interested in 2 of 3 big-ticket real estate assets that the government will be selling through the Privatization and Management Office.

These are the remaining 24-hectare portion of the Food Terminal Complex worth about P40 billion as well as the Atrium near the corner of Paseo de Roxas and Makati Avenue

Taiwan firm to expand operations in PHL

ATAIWAN-BASED semiconductor firm wants to expand its foothold in the country by increasing the capacity of its local plant, according to the Philippine Economic Zone Authority (PEZA).

PEZA recently visited ASE Co. Ltd.-Philippine Branch (ASE PH) at the Gateway Business ParkSpecial Economic Zone (GBPSEZ) in General Trias, Cavite to discuss the company’s expansion plans, capability transformation, and potential partnerships moving forward.

During the visit, the company outlined its growth trajectory and its planned 26,000-square-meter future expansion that could generate more jobs, boost exports, deploy advanced manufacturing technologies, and strengthen linkages within the local semiconductor supply chain.

Headquartered at Kaohsiung, Taiwan, ASE currently employs 825 workers in the Philippines. It has been operating in the country for almost 30 years.

‘PSE index may end 2026 at 7,100 points’

By VG Cabuag @villygc

Philstocks Financials Inc. said the benchmark 30-company Philippine Stock Exchange (PSE) index may close the year at the 7,100-point level, supported by robust corporate fundamentals.

The broker said the earnings of index members are projected to increase by 15 percent on average.

“Revenue growth and operational efficiency are expected to be driven by healthy consumer demand, firm capacity expansion and the integration technology in production capacity,” it said.

“For 2026, we forecast the Philippine economy to expand by 5 percent faster than the 4.4 percent growth seen in 2025.”

double to 3.2 percent from 1.7 percent last year. “This comes amid a combination of low-based effects, rising household demand and a depreciated currency.”

The peso, meanwhile, is projected to depreciate further against the US dollar this year, averaging P59.5 to the dollar, compared to last year’s P57.50 to $1, “as the Philippines is expected to post another balance of payment deficit position for the year.”

For the sectoral indices, Philstocks said the lower interest rates are reviving property demand.

“Residential loans jumped late last year, signaling a strong growth phase for developers in 2026.”

PEZA said ASE PH also showed its advanced Autoline-enabled manufacturing platforms that allow them to deliver a 24-hour turnaround time, supported by inhouse Reliability Testing and Failure Analysis (FA) site capabilities.

“These enable rigorous product validation, rapid fault isolation, and high-reliability assurance, strengthening ASE’s role as a critical semiconductor manufacturing and services hub for IoT, automotive, industrial, and other highreliability applications.”

The firm also shared its initiatives to boost human resource development through the ASE Institute, which could deliver entrylevel training to support the industry’s growing demand for upskilled and future-ready talent.

For his part, PEZA Director General Tereso O. Panga said the agency supports ASE’s expansion and workforce development initiatives, stressing the importance of upscaling and upskilling manpower in sustaining the competitiveness of the semiconductor industry. Ada Pelonia

worth about P449 million.

Ayala Land may already have an extensive land bank and aims to focus on developing its existing assets.

Quimpo said it “makes sense” to acquire these properties as they are adjacent to Ayala developments.

The company is developing the Arca South estate which comprises the 74-hectare portion of the Food Terminal Inc. it acquired earlier from the government.

The estate now hosts, residential, office and retail buildings as well as a hospital and will be opening its mall on February 13.

Meanwhile, he said The Atrium also presents a good opportunity for the company since it is just across the firm’s very prime Ayala Triangle property.

“The center of our universe is Ayala Triangle so we really need to look at this property,” he said.

The Atrium property consists of 24 condominium units and 21 parking slots.

The third is the Mile Long complex, also in Makati. Quimpo said, however, the company may not be interested in the property, as it is already outside of the CBD. VG Cabuag

The faster economic growth is hinged on the expected improvements resulting from the Bangko Sentral ng Pilipinas monetary policy easing.

“We project the Bangko Sentral ng Pilipinas to deliver one more rate cut this year, bringing the overnight reverse repurchase rate to 4.25 percent.”

It said the rate cut was a result of the “dismal growth” of the local economy last year and the tempered inflation seen for this year.

Inflation this year would almost

On banking, the sustained low borrowing costs are fueling robust loan demand from both businesses and households, which continues to support bank earnings. The consumer sector, household spending is set to re-accelerate, driven by better employment prospects, affordable credit and steady remittances from overseas Filipino workers, which benefit retail and manufacturing firms.

On mining, nickel miners are positioned to outperform as rising demand for batteries for electric vehicles and stainless steel meets a tempered global supply due to planned production cuts in Indonesia.

By Reine Juvierre Alberto @reine_alberto

THE Land Bank of the Philippines (LandBank) recorded a double-digit increase in net income, reaching P43.98 billion in 2025, on the back of stronger lending and investment returns.

According to the data from the Department of Finance (DOF), the state-owned lender’s net income rose by 24 percent to P43.98 billion in 2025 from P35.46 billion in 2024. The bank’s gross loan portfolio reached P1.68 trillion as of December 2025, with more than half supporting the agriculture sector.

About 53.5 percent, or P896.61 billion, was allocated to its Agriculture, Fisheries, and Rural Development (AFRD) loan portfolio, providing credit to agriculture and rural communities.

“By strengthening primary production and scaling value-adding activities, we promote food security and drive inclusive, sustainable growth,” LandBank President and CEO Lynette V. Ortiz was quoted in a statement as saying.

LandBank’s earnings were fueled by its interest income, which climbed to P152.70 billion, driven by higher

Banking&Finance

returns on loans and stronger fixedincome earnings from investments.

“LandBank has once again delivered strong results under good leadership,” Finance Secretary Frederick D. Go said.

“This improved performance enables the bank to lend more at affordable rates—directly benefiting priority sectors while advancing countryside development and translating financial strength into inclusive growth,” added Go, who also serves as chairman of the LandBank.

Moreover, LandBank’s total assets hit P3.52 trillion, higher by 3 percent than the previous year’s P3.43 trillion.

According to the DOF, the bank’s asset quality improved last year, due to credit risk management and sustained recovery efforts, even as the bank continued to expand lending to priority sectors.

Similarly, total deposits grew to P3.11 trillion—the highest level to date, according to the DOF.

“The bank’s capital position remained strong and supportive of balance sheet growth, underpinned by sustained profitability and prudent balance sheet management initiatives,” read a statement from the DOF.

Bitcoin-led crypto rout erases nearly $500 billion in a week

LMOST half a trillion dol-

Alars has been wiped off cryptocurrencies in less than a week as a selloff led by Bitcoin accelerated.

Total crypto market value has slumped by $467.6 billion since Jan. 29, according to CoinGecko data. Bitcoin on Tuesday tumbled to its lowest level since US President Donald Trump won re-election in early November 2024 and ushered in a more crypto-friendly administration.

The original cryptocurrency, which hit a 15-month low of $72,877 in the US, regained some ground Wednesday, trading around $76,600 at 6:50 a.m. in London.

Despite a pro-crypto White House and surging institutional adoption, Bitcoin has plummeted about 40 percent since rocketing to a record in early October. The rout follows a crippling series of liquidations on Oct. 10 that wiped out $19 billion in leveraged token bets, from which the broader crypto market has yet to recover.

“Asia morning sentiment is cautious and defensive. The mood is still risk-off, but the pace of forced selling has slowed compared with the US close,” said Rachael Lucas, an analyst at BTC Markets. Still, “Bitcoin printing sub-$73,000 has pushed sentiment into extreme fear,” she said.

The declines follow a volatile week across global markets that also saw sharp swings in gold and

FUNDS with ESG investment goals saw $84 billion in outflows last year, marking the first time the global market for such products was hit by net redemptions, according to a report by Morningstar Inc.

The historic pullback coincides with the first ever net withdrawals in Europe from products claiming to take environmental, social and governance factors into account, the report showed. In the US, meanwhile, ESG funds lost client money for a third consecutive year, Morningstar said last Wednesday.

“The wider environment remains challenging, as persistent headwinds, including geopolitical tensions, the ESG backlash, regulatory backpedaling, and mixed performance, continue to weigh on inves-

PHL secures loan from Japan for rehabilitation of MRT-3

By Malou Talosig-Bartolome

THE Philippines is borrowing P8.3 billion (about JPY21.6 billion) from Japan to finance the second phase of rehabilitation of the 26-year-old Metro Rail Transit Line 3 (MRT-3), the busiest commuter railway in Metro Manila.

The agreement was formalized last Wednesday as Foreign Affairs

Secretary Maria Theresa P. Lazaro and Japanese Ambassador to Manila Endo Kazuya signed the “Second Supplemental Loan Agreement” at the Department of Foreign Affairs headquarters in Pasay City.

Stretching 16.9 kilometers with 13 stations along Edsa from North Avenue in Quezon City to Taft Avenue in Pasay City, the MRT-3 remains Metro Manila’s most heavily used rail line. The rehabilitation project seeks to restore the system to its original condition, improve safety and comfort, and help ease the capital’s chronic traffic congestion.

silver. While precious metals found buyers on Tuesday after recent losses, cryptocurrencies failed to attract support. Bitcoin and US equities fell as rising tensions between the US and Iran prompted investors to seek safe assets.

Bitcoin’s plunge is raising doubts that it functions as a kind of “digital gold,” as it hasn’t acted as a safe haven during a period of heightened geopolitical uncertainty. Investor Michael Burry this week warned that Bitcoin has been exposed as a purely speculative asset, failing to establish itself as a hedge similar to precious metals.

In the past 24 hours, over $700 million in bullish and bearish crypto bets have been liquidated in the perpetual futures market, taking the total wipeout to over $6.67 billion since January 29, CoinGlass data shows.

Flows to US-listed Bitcoin exchange-traded funds remain choppy. After seeing about $562 million in net inflows on Monday, investors pulled out $272 million from the group on Tuesday, according to data compiled by Bloomberg. Historically, there’s been a “tremendous amount” of nearreligious belief in holding on to Bitcoin no matter what, Michael Novogratz, chief executive officer of Galaxy Digital LP, said on an earnings call. “And somehow that virus or that fever broke, and you started seeing some selling.”

tor appetite,” Hortense Bioy, head of sustainable investing research at Morningstar Sustainalytics, said in a statement.

US President Donald Trump’s explicit anti-environment agenda weighed heavily on the theme while regulatory uncertainty led to many funds dropping ESG labels in Europe. And concerns about greenwashing remain for many investments. Fund outflows in Europe, by far the largest region for ESG investing, reached a net $20 billion last quarter as large UK institutional investors reallocated from pooled ESG funds into bespoke ESG mandates, Morningstar said. The hedge fund industry is also lobbying hard to ensure the UK excludes it from new climate regulations.

The concessional loan, extended through the Japan International Cooperation Agency (JICA), carries an interest rate of 0.8 percent per annum, a 40-year repayment period and a 10-year grace period.

Regulator

HE Fire Services Mutual Bene-

Tfit Association Inc. (FSMBAI) was ordered by the Insurance Commission (IC) to immediately stop its operations.

In a notice to the public, Insurance Commissioner Reynaldo A. Regalado said that the IC has issued a cease and desist order against the tax-exempt organization that provides insurance products to members of the Bureau of Fire Protection (BFP).

According to the IC, it issued the order due to the association’s “continuing inability” to comply with certain regulatory requirements and orders of the commission.

TBy Andrea San Juan

HE Bangko Sentral ng Pilipinas (BSP) warned the public against melting and other acts to damage Philippine coins, including commemorative coins as they may face imprisonment of up to five years and a maximum fine of P20,000.

The central bank said under Presidential Decree No. 247, it is unlawful to “willfully deface, mutilate, tear, burn, or destroy Philippine currency

Passive ESG funds registered their first-ever annual outflows, losing close to $35 billion. Actively managed funds faced withdrawals of $49 billion, even as their non-ESG counterparts saw inflows.

The global retreat from ESG-labeled funds comes despite significant gains in clean energy stocks, with sales of green debt also hitting a record high. The S&P Global Clean Energy Transition Index soared more than 43 percent last year, with Jefferies Financial Group Inc. insisting that green investors are entering the “glory days” for such allocations. Green stock gains offset some of the capital outflows, and global sustainable fund assets rose about 4 percent in the fourth quarter to $3.9 trillion, Morningstar said.

It builds on Japan’s continuing support for MRT-3, which has suffered years of breakdowns and maintenance issues.

Lazaro said the loan reflects the shared commitment of Manila and Tokyo to improving urban mobility.

“This second supplemental loan builds on the strong foundation of our existing cooperation with Japan in the rehabilitation of MRT-3. More importantly, it will translate into safer journeys, shorter travel times, and improved commuter experience for the millions of Filipinos who rely on MRT-3 every day,” she said.

Endo highlighted Japan’s role in Philippine railway projects.

“Japanese companies worked closely with Philippine partners, bringing technical expertise, dedication and a strong sense of responsibility to the rehabilitation of the line.

The association was also simultaneously placed under conservatorship, a status that will allow the IC to be involved in the management until the viability of the firm is restored.

Under the law, if the IC finds that an insurer is in a state of continuing inability or unwillingness to maintain a condition of solvency or liquidity deemed adequate to protect the interests of policyholders, it may put it under conservatorship.

Lawyer John A. Apatan, manager of the IC’s Conservatorship, Receivership and Liquidation Division, was designated as interim ex-officio con-

issued by the BSP.”

Violators may face imprisonment of up to five years and a fine not exceeding P20,000.

“The BSP emphasizes that coins are intended for use as payment in everyday transactions,” read a statement the central bank issued last Wednesday.

Meanwhile, commemorative coins are issued by the BSP to highlight significant events in Philippine history, landmarks, and legacies of “esteemed” Filipinos.

THE world’s top financial stability watchdog has urged policymakers to more closely scrutinize the multi-trillion dollar leveraged bets on government bonds popular with hedge funds and other investors.

The Financial Stability Board (FSB) pushed for more oversight of the risks being taken on by market participants in repurchase agreements, or repos, backed by government bonds.

In a report published last Wednesday it identified and outlined several “vulnerability metrics” which regulatory authorities can track “in order to strengthen surveillance capabilities.” Hedge fund cash borrowing in repo markets has increased over the past few years, with FSB calculations putting it at $3 trillion — or 25% of their assets. That’s as they pile into profitable strategies such as the cash-futures basis trade, which uses leverage to exploit small price

Today’s Exchange of Notes reflects the trust and cooperation between our two countries and strengthens our confidence as we move forward together,” he said.

The MRT-3 officially opened on December 15, 1999, with its initial section from North Avenue to Buendia under President Joseph Estrada. The full 13-station Edsa route down to Taft Avenue was completed on July 20, 2000.

Originally constructed by Japan’s Sumitomo Corp. as main contractor and Mitsubishi Heavy Industries Ltd. as civil-works and systems subcontractor, MRT-3 has since become Metro Manila’s most heavily used railway, carrying 141 million passengers in 2025.

servator of the FSMBAI.

The conservator is authorized to take charge of the assets, liabilities and management of the FSMBAI, reorganize the management of the association and restore its viability, among others.

Established in 2004, the FSMBAI groups personnel of the BFP exclusively.

MBAs are non-stock and nonprofit organizations primarily organized for the purpose of paying sick benefits to members, or of furnishing financial support to members while out of employment, or of paying to relatives of deceased members a fixed

The BSP urges the public to help safeguard the integrity of the Philippine currency by using coins responsibly and only for their intended purpose.

Last year, the BSP and the Philippine National Policy (PNP) filed criminal complaints against six individuals who were arrested for willfully destroying Philippine coins.

The individuals were apprehended in separate entrapment operations conducted by the BSP and the PNP in Siquijor and Boracay in Aklan.

differences between bonds and corresponding future contracts.

“Given the importance of repo markets within the global financial system, it is critical that their functionality is preserved, particularly during times of stress,” the FSB report said. “The buildup of leverage by market participants continues to warrant further attention.”

The recommendation is the latest attempt by regulators to get ahead of potential market blow-ups related to bond market leverage. The repo market is used by a range of asset managers and banks to effectively lend bonds in exchange for cash, and vice versa.

In the US, bond dealers reported “on-the-run vs. off-the-run arbitrage, yield curve or duration trades, and the cash-futures basis trades” as the most popular strategies among their hedge fund clients, the report said. In the euro area, yield curve or duration trades were

or any sum of money, irrespective of whether such purpose is carried out by means of fixed dues collected regularly, according to the Insurance Code. These associations provide for payment of accident or life insurance business by the issuance of certificates of insurance out of such regular dues or assessments. As of end-2025, 39 MBAs are operating under licenses issued by the IC. Latest available data from IC showed total assets of MBAs in the country stood at P163.575 billion, while liabilities reached P96.301 billion. Reine

The BSP’s Payments and Currency Investigation Group (PCIG) and PNP Criminal Investigation and Detection Group (CIDG) filed the charges before the Siquijor Provincial and Aklan Provincial Prosecutor’s Offices, respectively.

The suspects include one person identified as “Jess” who went viral on social media for willfully destroying a 10-Piso coin and turning it into a ring in Siquijor; and another one who was also caught doing the same illegal activity in Boracay.

dominant, with the cash-futures basis trade also “prevalent.” A core concern of regulators is that leveraged investors facing liquidity demands may be forced to sell assets to raise funds. These asset sales, if they take

Health&Fitness

More than just breathlessness: The hidden danger of Pulmonary Arterial Hypertension

By Candy P. Dalizon Contributor

AS the world marks Rare Disease Month, health experts are calling attention to conditions that often go unnoticed—despite their life-threatening impact. One such condition is Pulmonary Arterial Hypertension (PAH), a rare but serious disease that is frequently misdiagnosed or detected too late.

Shortness of breath is often brushed aside as a sign of aging, weight gain, or poor fitness. But medical experts warn that when breathlessness becomes persistent, it should not be ignored. What many dismiss as a lifestyle issue may be an early sign of Pulmonary Hypertension (PH), a serious condition that can quietly progress to heart failure if left untreated.

Fatigue and reduced exercise tolerance are among the most common complaints seen in clinics. Yet these same symptoms are also the hallmark of PH, a disease that affects the delicate balance between the heart and the lungs.

When the heart and lungs are under strain

PULMONARY Hypertension is defined by abnormally high blood pressure in the arteries of the lungs. Unlike systemic hypertension, PH places strain specifically on the right side of the heart, which must work harder to push blood through narrowed or stiffened pulmonary vessels.

Over time, this constant pressure overload weakens the heart muscle and can lead to right-sided heart failure. PH rarely occurs on its own. It is most often a complication of another

condition, particularly left-heart disease, which causes pressure to back up into the lungs. Chronic lung diseases such as Chronic Obstructive Pulmonary Disease (COPD), scarring from previous infections like tuberculosis, sleep apnea, chronic blood clots, and congenital heart defects are also common contributors.

Identifying the underlying cause is essential, as treatment strategies depend on addressing what triggered the rise in pulmonary pressure.

A rarer and more aggressive form of the disease is Pulmonary Arterial Hypertension (PAH). Classified as a rare disease, PAH occurs when the pulmonary arteries themselves become narrowed and thickened, restricting blood flow. The condition is often idiopathic, meaning it occurs without a known cause, though genetics may play a role.

PAH predominantly affects women between the ages of 40 and 50. It is progressive and potentially fatal, requiring specialized medications that directly target the pulmonary arteries.

Why PAH is often missed

ACCORDING to pulmonologist and pulmonary hypertension specialist Dr. Catherine Joy Tubig, delayed diagnosis remains one of the biggest challenges in PAH care.

“PAH is frequently underdiagnosed,” she said. “Patients often come in when the disease is already advanced because the symptoms, fatigue and breathlessness are easily mistaken for something else.”

Many patients describe a sudden decline in physical capacity. “They say they used to walk or travel comfortably, then suddenly even a few steps made

them breathless,” Dr. Tubig shared. “Others assume it’s just weight gain or aging.”

Cardiologist Dr. Alejandro Ramon Prieto noted that clinicians often default to cardiac causes when patients present with chest discomfort or shortness of breath. While this is understandable, it can delay recognition when the true problem lies in the pulmonary arteries.

“In the early stages, PAH can be silent,” said Dr. Prieto. “By the time symptoms are obvious, structural changes in the heart may have already occurred.”

A growing impact on daily life

PA H significantly affects quality of life and follows a functional classification similar to the New York Heart Association (NYHA) system. In the early stages, patients may have no physical limitations. As the disease progresses, symptoms appear with moderate activity, then even with minimal exertion. In severe cases, patients experience breathlessness at rest.

“The more advanced the disease, the poorer the prognosis,” said Dr. Prieto. “Early diagnosis and treatment are critical to slowing progression and reducing mortality.”

Dr. Tubig recalled a 40-year-old patient who had been an active traveler but suddenly became breathless after just a few steps. A 2D echocardiogram showed a normal left heart but a dilated right ventricle, an important clue pointing toward pulmonary hypertension. Treatment often begins while diagnostic tests are still ongoing. “Many patients face financial limitations, so we enroll them in assistance programs and adjust treatment while completing the workup,” Dr. Tubig explained.

The importance of coordinated care

BECAUSE PAH symptoms overlap with many conditions, patients may first consult different specialists. “Some go to pulmonologists, others to cardiologists,” said Dr. Prieto. “In reality, PAH requires multidisciplinary care.”

Effective management may involve pulmonologists, cardiologists, rheumatologists, hematologists, and rehabilitation specialists. Pulmonary rehabilitation, Dr. Tubig added, is an important but often overlooked part of care. “It helps patients regain strength and confidence to move.”

In the Philippines, the Philippine Heart Center serves as a national referral center for PH and PAH, bringing together specialists experienced in diagnosing and managing complex cases through a coordinated, teambased approach.

Raising awareness, saving lives

BOTH experts emphasized that greater awareness among clinicians is key. “Doctors don’t need to be experts,” said Dr. Tubig. “They just need to recognize the red flags and include PH in their differential diagnosis.”

Dr. Prieto added that early use of 2D echocardiography is essential, followed by right heart catheterization, the gold standard test, to confirm PAH and guide treatment.

Despite its severity, PAH remains under-recognized and under-supported. Expanding awareness, improving access to diagnostics and treatment, and strengthening referral pathways are critical steps toward improving outcomes for patients living with this life-altering condition.

Parents, teachers partner to protect students against tobacco, vape use

By Claudeth Mocon-Ciriaco

CREATING tobacco, nicotine and e-cigarette-free campuses, according to the World Health Organization (WHO), will take a “whole of school” approach, which includes teachers, staff, students, parents and even the community.

Parents and schoolteachers in Quezon City took this step after they joined hands to protect students, especially minors, against tobacco and vape use.

Dubbed the “Kampanya Kontra Yosi at Vape,” the campaign was spearheaded by the School Parents Teachers Association federation (SPTA) of District 2 and the Parents Against Vape Incorporated (PAV).  Kapag nagkakaisa ang mga magulang at paaralan, mas nagiging matatag ang ating paninindigan para sa kaligtasan ng mga bata. [If the parents and schools are united, we are much stronger in our stand for the safety of our kids],” said SPTA President Lanie Ternola.

Raise awareness

TERNOLA said that part of the campaign is to raise awareness among the

community and the youth on the risks associated with tobacco and vape use through a series of educational sessions on how to attain a smoke-free and vape-free community.

Likewise, part of the sessions also highlighted the harm posed by tobacco and vape use to students of Doña Juana Elementary School in Barangay Holy Spirit and the community in Batasan Hills, Quezon City.  Batasan National High School SPTA President Agnes Aliparo said the help of parents and the community is needed in the campaign saying, “The knowledge of parents is our first defense against tobacco and vape, and we also strongly encourage the local government to sup -

port policies that will strengthen the overall health of communities.”

As part of the school-based interventions, PAV also put up warning and reminder posters on the danger posed by tobacco and vape use in Bagong Silangan High School and at Justice Cecilia Muñoz Palma Senior High School.

Capacity building activities were also undertaken for SPTA officials and the Supreme Secondary Learner Government of the Holy Spirit National High School and Batasan Hills National High School.

Amend the law

MEANWHILE, PAV also urged lawmak-

ers to amend Republic Act 11900 or the Anti-Vape Law to strengthen the enforcement and protection mechanism for the youth.

The said law prohibits the sale, promotion, advertising, and product demonstration of tobacco, products, including vape, within 100 meters from school premises or other areas frequented by minors.

Malinaw ang paninindigan ng PAV, walang puwang ang vape sa mga paaralan at komunidad kung saan dapat ligtas ang mga bata. [PAV’s stance is clear: vaping has no place in schools and communities where children should be safe],” PAV President Rebie Relator said.

The 2019 Global Youth Tobacco Survey showed that one of every seven Filipino youth aged 13 to 15 is exposed to vaping.

Latest data from the Food and Nutrition Research also showed that 39.9 percent of those aged 10 to 19 are using e-cigarettes or vape.

The Global Burden of Disease study by the Institute for Health Metrics and Evaluation said 112, 000 deaths annually in the Philippines can be attributed to tobacco and vape usage.

Climate change is affecting people’s sleep patterns—study

TBy Rizal Raoul S. Reyes Correspondent

HE Philippines is currently facing a silent epidemic.

In March 2025, the Philippine Society of Sleep Medicine Inc. (PSSMI) reported that the Philippines ranks first in Southeast Asia and fourth globally as the most sleepdeprived nation (Co, 2025), according to an article “Klim@Tulog” published for the Ateneo de Manila University website authored by Hxyll Almonguera and Shekinah Mesa. Dr. Jimmy Chang, Director of PSSMI, warns the worst is yet to come, pointing out that this is not a static statistic. The crisis, he added, will aggressively worsen as Filipinos continue to sacrifice sleep quality for productivity or digital engagement. Sleep is not merely “downtime;” it is a complex biological requirement. According to Baranwal et al. (2023), quality sleep, or sleep architecture, relies on a rhythmic, cyclic process between two critical stages: the nonrapid eye movement (NREM) and the

rapid eye movement (REM).  NREM is a stage of deep repair where the body physically restores itself. Meanwhile, REM is described as the stage of dreaming and skeletal muscle atonia, essential for cognitive processing. When this architecture is dismantled by deprivation, the authors said the consequences are catastrophic. Shanguang Zhao et al. (2025) found that lack of sleep significantly impairs high-intensity endurance by spiking maximum heart rates and slashing the time to physical exhaustion. More alarmingly, sleep deprivation weakens the very “wiring” of the brain, sabotaging the information transmission required for basic cognitive and motor functions.

“We are essentially operating on a failing battery,” the authors said. Given the current scenario, the authors asked: Is sleep deprivation still within our control? The evidence suggests people are losing their grip. Climate change has moved beyond “abstract terror” into an invasive reality that is sabotaging the bedroom, the

last sanctuary of human well-being. Bed or Sauna?

THE most subliminal thief of sleep is rising ambient temperature. A study by Minor et al. (2022) confirms that global warming is objectively eroding sleep quality worldwide. As nighttime minimum temperatures rise, sleep duration shrinks. Our bodies are trapped in “urban heat islands,” where concrete and asphalt act as thermal batteries, re-emitting heat long into the night.

The human body’s physiology is remarkably sensitive to these shifts. To initiate sleep, the body’s thermoregulation system must drop our core temperature by approximately 1°C to 2°C (Cerri & Amici, 2021). When the environment remains a kiln, this natural cooling is blocked.

“Our bodies are forced into a state of high metabolic labor—increased heart rate and sustained activity—just to stay cool. Furthermore, the heat can suppress melatonin, the vital hormone that signals the brain to drift off. We aren’t just ‘uncomfortable;’ we are bio -

By Rory Visco Contributor

CANCER remains one of the most feared illnesses among Filipinos, yet many cases are still detected late, when treatment options narrow and costs rise sharply. However, a new partnership between Manulife Philippines, Manulife China Bank Life, and Ayala-led AC Health aims to change this narrative by putting prevention, early detection, and guided care at the center of how families engage with cancer health services. For years, conversations about cancer in the Philippines have often begun only after symptoms appear. By then, the disease has already progressed, leaving patients and their families facing not only medical uncertainty but also emotional and financial strain. Health advocates have long advised that late-stage diagnosis remains one of the country’s most persistent challenges in cancer care.

According to data from the Philippine Statistics Authority (PSA), cancer consistently ranks among the leading causes of death in the Philippines. For the first half of last year, cancer came in second with 30,961 deaths, or about 11.4 percent of total deaths in the country, next only to ischemic heart diseases with 53,985 deaths (19.9 percent), which topped the list. Cancer has been consistently the second top killer in the country since 2022. Against this backdrop, Manulife Philippines and Manulife China Bank Life have partnered with AC Health to advance cancer prevention education and expand access to comprehensive care. The collaboration brings together insurance, health education, and clinical services, reflecting a growing effort to address cancer earlier before treatment becomes more complex and costly.

Coverage to prevention

“AT Manulife, we believe that prevention and early detection are essential to helping Filipinos live healthier and better lives,” said Rahul Hora, president and chief executive officer of Manulife Philippines. “Our Asia Care Survey found that cancer remains one of the most feared diseases among Filipinos. This partnership with AC Health, which will provide cancer awareness, diagnosis and preventive programs, easier access to referral and care pathways, allows us to provide our customers with meaningful access to trusted cancer care.”

The initiative is anchored on ManulifeMOVE, Manulife Philippines’ flagship holistic health and wellness program. Through the platform, customers can access cancer awareness initiatives and defined care pathways offered by Healthway Cancer Care Hospital (HCCH), AC Health’s specialized facility focused on cancer prevention, treatment, and survivorship. These pathways cover a broad array of services, from early detection and prevention to Cancer Concierge support, case management, treatment planning, and second-opinion consultations. Customers may also avail themselves of discounted cancer screening packages nationwide, including fecal immunochemical tests (FIT) for colon cancer and screening services for

logically locked out of rest,” the authors said.

The New Nightmare Fuel: Trauma and Eco-Anxiety BEYOND the thermometer, the authors said climate change attacks sleep through psychological trauma. Typhoons, floods, and wildfires do more than destroy infrastructure; they leave a wake of displacement and “ecoanxiety”—a profound emotional distress regarding the planet’s future.

How can the brain enter the vulnerability of REM sleep when it is hyper-vigilant, listening for the next storm or grieving a lost home? For many, the “natural and social systems” we are currently confronting have turned the night from a time of healing into a period of survival. Finally, the conclusion emphasized that sleep deprivation in the Philippines is no longer just a lifestyle choice—it is a casualty of a planet in crisis. Without addressing the environmental heat and social instability we face, “a good night’s rest” may soon become a luxury of the past.

cervical, lung, and breast cancer, which are among the most common cancers affecting Filipinos.

Health experts have consistently pointed out that early detection significantly improves survival rates while lowering long-term treatment costs. Yet screening uptake in the Philippines remains uneven, often hindered by limited awareness, access barriers, and fear of diagnosis.

Expanding access to care

AC Health, which operates an integrated healthcare network spanning clinics, hospitals, retail pharmacies, and pharmaceutical distribution, sees the partnership as a way to close these gaps at scale.

According to Paolo Borromeo, president and chief executive officer of AC Health, the company is committed to making world-class cancer care accessible to more Filipinos. “Through the Healthway Cancer Care Hospital and our nationwide network of hospitals and clinics, we continue to provide comprehensive, patientfocused support. This partnership with Manulife enables us to reach even more Filipino families, empowering them to take charge of their health through early detection and high-quality care.”

The collaboration also extends to Manulife China Bank Life (MCBL), broadening its reach among customers of China Bank and China Bank Savings. For MCBL, the partnership underscores the importance of embedding health education and preventive screening into insurance relationships much earlier.

“This collaboration with AC Health will enable us at MCBL to bring cancer awareness, preventive screening, and access to care closer to our customers from China Bank and China Bank Savings. Now more than ever, this scale matters,” said Amy Gochuico, president and chief executive officer of Manulife China Bank Life. “It allows us to help normalize preventive health conversations across the country and strengthens our ability to walk alongside our customers—not only when claims are made, but long before—through education, prevention, and guidance.”

A shift in health strategy INDUSTRY observers note that this partnership represents a broader shift among insurers toward preventive and value-based health strategies, as rising healthcare costs and chronic disease burdens place increasing pressure on households and the health system. Rather than focusing solely on payouts, insurers are increasingly positioning themselves as long-term health partners.

For Filipino families, the practical impact may lie in access to information, screening, and coordinated care that can help demystify cancer and reduce fear regarding early testing.

While no single initiative can address the country’s cancer burden, the partnership’s stakeholders say sustained efforts that emphasize awareness and early action are critical. By reframing cancer care as a continuum that begins with prevention, Manulife and AC Health hope to encourage more Filipinos to engage with their health earlier and with greater confidence.

Mary Mediatrix in Batangas provides world’s most advanced cancer treatment to patients

ARY Mediatrix Medical Center in Lipa, Batangas is now offering one of the world’s most advanced cancer treatments through a partnership with Mt. Elizabeth Hospital in Singapore. This collaboration gives patients access to Proton Beam Therapy (PBT), the most precise form of radiation therapy available today.

Proton Beam Therapy targets tumors with exceptional accuracy while minimizing damage to surrounding healthy tissue. With this addition, Mary Mediatrix becomes one of the few hospitals in the Philippines—and the first in Batangas and Southern Luzon—to offer proton therapy as part of comprehensive cancer care.

“Proton Beam Therapy represents a major advancement in cancer treatment,” said Dr. Jaime Songco, Head of the Cancer Institute at Mary Mediatrix. “It allows us to effectively treat tumors while better protecting healthy tissue, making treatment safer and more tolerable for patients.”

PBT is especially beneficial for tumors near critical organs such as the brain, heart, lungs, or spinal cord. Although the technology is costly and available in only a few countries worldwide, patients can now access this treatment more conveniently through Mary Mediatrix, which also assists with coordination, travel, and care arrangements with Mt. Elizabeth Hospital. Typically delivered on an outpatient basis, Proton Beam Therapy is painless, non-invasive, and tailored to each patient’s condition. It may be used alone or in combination with surgery or chemotherapy, often with fewer side effects than traditional radiation therapy. By bringing access to advanced cancer treatment closer to home, Mary Mediatrix reinforces its commitment to world-class, compassionate, and patient-centered care for patients in Batangas, Southern Luzon, and beyond. For inquiries, call 043-773-6800 or email customercare@mediatrix.com.ph

Korean envoy: Iloilo dam project is ‘game changer’

ILOILO CITY—South Korean Ambassador to the Philippines Lee Sang-hwa cited the Jalaur River Multi-Purpose Project Stage II (JRMP II) as a “game changer.”

Lee made this comment during his courtesy call to Governor Arthur Defensor Jr. of Iloilo last January 26.

Both officials then explored ways to boost the two-way cooperation between the province of Iloilo and South Korea in the areas of infrastructure, education, tourism, information technology, and manpower development, among others.

The ambassador also expressed his optimism about the upcoming Panay-Guimaras-Negros Bridge, which is also backed by the Korean government.

Defensor also revisited plans for direct Iloilo-Seoul flights. He noted that while the pandemic initially stalled the initiative, it remains a priority for regional connectivity.

The province is home to some 500 Koreans, and the direct flight would help boost tourism and trade.

Joining Lee in his visit were representatives from the Philippines-Korea Economic Council, as well as the

Philippine Chamber of Commerce and Industry-Iloilo Chapter Inc. led by its president Fulbert Woo. That weekend, the ambassador visited the dam project as part of a high-level site inspection.

The JRMP II is funded under the official development assistance or ODA from the South Korean government through the Korea EximBank.

The Korean envoy’s last visit was during the project inauguration on July 16, 2024, National Irrigation Administration Institutional Development Division officer in charge (OIC) Steve Cordero said in a phone interview.

“[Amazed by the structure, Lee took pride in the project’s completion],” Cordero said. “He was aware that the project had been a dream for many Ilonggos given that the law that provided for its construction was passed in 1960.” According to the OIC, the am-

bassador was happy that their government was a partner in the implementation of the dream project.

“[The diplomat] pointed out that the JRMP II is an important project of his time,” Cordero narrated. “Given what happened to flood-control projects of other [government] agencies… the dam was completed, constructed properly, and served as flood mitigation as committed. being part of the benefits of the project last year.”

The overall physical accomplishment of the P25.6-billion JRMP II project is now at 82.36 percent as of December 2025.

To date, only the irrigation com-

Great British Fest. marks 80 yrs. of UK-Phils. diplomatic relations

Tponent consisting of the high-line canal, main canal and the lateral canal, is left to be completed.

The high-line canal has an accomplishment rate of 37 percent, while the main canal is 32 percent as of December 2025.

“Our target completion is June 2027, and operational by December of the same year. Given our progress, it is possible,” he said.

Last year, the project initially irrigated 500 out of the 3,750 hectares of rice land in the municipality of Calinog.

Once completed, the project is expected to irrigate 9,500 hectares of new rice areas, and over 32,000 hectares of existing ones. Perla Lena/PNA

PHL’s envoy to Chile discusses women’s leadership & future of int’l cooperation

ANTIAGO—Ambassador

Sto Chile Celeste Vinzon-Balatbat presented to former Chilean president and former United Nations High Commissioner for Human Rights Michelle Bachelet a copy of “A Journey of Hope and Endeavor: 80 Years of the Philippines in the United Nations [UN].”

The presentation took place during the Philippine envoy’s courtesy visit on January 21 to Bachelet.

Published by the Department of Foreign Affairs, the book highlights the role and advocacies of the Philippines as a founding member of the UN. Vinzon-Balatbat informed Bachelet of the country’s candidature for a nonpermanent seat in the UN

president Michelle Bachelet SANTIAGOPE/DFA

Security Council 2027-2028.

“The Philippines gives importance to the rule of law and the peaceful settlement of disputes,” said the ambassador in response to Bachelet’s advocacies. “Through these shared values, we have the potential to work together in the UN.”

As former executive director of UN Women, Bachelet confirmed her continuous work toward advancing women’s rights and women empowerment. Both agreed that women are no strangers to adversity, as they navigate challenges with courage, persistence, and grace.

The Filipino diplomat and Bachelet fondly recalled the latter’s state visit and participation in the Asia-Pacific Economic Summit in the Philippines in 2015.

Instituto Cervantes salutes Spanish filmmaker with tribute

THE Instituto Cervantes de Manila will present at its Intramuros branch a special series featuring four films directed by Spanish filmmaker Gonzalo Suárez, who was a recipient of the Goya de Honor or Honorary Goya Award 2026.

Screenings are held all Tuesdays of February at 2 p.m.; and admission is free.

The series opened on February 3 with The Goalkeeper (1999). Set in 1948, the film follows Ramiro Forteza—a former first-division football goalkeeper who travels from town-totown, challenging locals to penalty shootouts, offering a small cash prize to anyone who can beat him.

The second screening, The Detective and Death (1994), will be shown on February 10. With a running time of 112 minutes, the film is set in a European city shaken by racial unrest. A powerful tycoon must confront the only force he cannot deceive or corrupt—death—while a detective searches for the woman he loves. Meanwhile, an innocent young woman obsessively follows him, driven by the desperate hope of bringing her murdered son back to life.

On February 17, the series continues with Remando al viento (1988)—a 96-minute film portraying English poets Mary Shelley and Lord Byron as they flee England and journey

through Europe. Through Mary’s recollections, the film explores her passionate relationship with Percy Shelley, her encounters with Byron in Switzerland, and, above all, a fateful night in November 1816 when, during a gathering of

friends exchanging ghost stories, she conceived the legendary monster of Frankenstein. The series wraps up on February 24 with Epílogo (1984). The 91-minute film centers on two writers: Rocabruno and Ditirambo. After years of collaboration and sharing a love for the same woman, the two went their separate ways. Later, Ditirambo visits Rocabruno with the intention of writing one final novel together.

“Gonzalo Suárez, Goya de Honor” is part of a broader celebration of the Goya Awards—the most prestigious honors in Spanish cinema.

From February 20 to 22, the Spanish Academy of Cinematographic Arts (Academia de Cine de España), together with the Embassy of Spain in the Philippines, in collaboration with AECID, Instituto Cervantes, the Quezon City Film Commission, and the QCinema Film Festival will present a selection of recent Goya Award-winning films: Mariposas negras (2024), La virgen roja (2024), Marco (2024), and Pedro Almodóvar’s The Room Next Door (2024). Screenings will take place at Gateway Cinemaplex 18 in Quezon City.

All films will be screened in Spanish with English subtitles and advance registration is recommended. Interested viewers may reserve their seats through the audience registration form.

HE Great British Festival officially returned on January 31 and February 1, organized by the British Embassy-Manila, British Chamber of Commerce Philippines (BCCP), and the British Council Philippines, with BusinessMirror as media partner.

Celebrating the 80th year of diplomatic relations between the United Kingdom and Philippines, the annual festival showcased British art, music, education, business and food in the two-day event, with various exciting activities, games, performances, and information sessions on traveling to the United Kingdom (UK)—whether for study, vacation, work, or simply visiting friends and family.

According to the BCCP, the festival demonstrated the ever-deepening trade and cultural connections of the two countries, marked by the increasing Filipino and British communities, as well as the expanding relations in areas such as tourism, agriculture, renewable energy, and infrastructure among others.

BCCP Executive Vice Chair Chris Nelson noted the significance of the festival as a “testament to how the UK and the Philippines bilateral relationship evolved in the span of eight decades.”

“We have seen developments in trade, diplomatic, and cultural areas, and of course this will not be possible

without the work of the British Embassy, British Council and us, at the British Chamber,” the BCCP official shared. “[It brought] together businesses, partners, and communities to celebrate what we have built together and further reinforce it in the years to come.”

The Philippines’ ecozones have seen an increase in the number of British businesses setting shop, as reported by Philippine Economic Zone Authority (PEZA) Director General Tereso O. Panga. It documented a total of 75 locator companies and a cumulative investment of P229.297 billion between 1995 and 2025, making the UK PEZA’s fourth-largest investor. Trade relations with UK remain at an upward trend at £3.0 billion in the four quarters ending mid-2025 based on total trade in goods and services, thus positioning the European country as the Philippines’ 23rd-largest trading partner. The event was organized with PruLife UK, VFS, HSBC, BPI, Shell, Union Jack Tavern, David’s Salon, Autohub Group (MINI, Lotus and Triumph), Jaguar/JLR, Cargo Fish, Robinsons Marketplace, Yummy Organics Food Products, Nutrigen, Don Revy Philippines, Mamas & Papas, Sainsbury’s, Exceed, CTC Group Philippines, Pina Beauty + Pamme, Chevening, AUG, AECC, StudyIn, and IDP.

Taiwan Assoc. leadership turnover highlights stronger ties with PHL

HE Taiwan Association Inc.

TPhilippines (TAP) held its 45th and 46th Presidential and Supervisory Board turnover ceremony on January 18, which marked a significant milestone for the organization, while underscoring the continued deepening of Taiwan-Philippines relations.

Second-generation Taiwanese business leader Jia Hsieh formally assumed office as TAP president, as she received the association’s official seal from outgoing president Tom Lin. Taiwan’s representative to the Philippines Wallace M.G. Chow and national policy advisor to the president Kai-min Lin officiated the ceremony. It was witnessed by Minister Chia-ching Hsu of Taiwan’s Overseas Community Affairs Council (OCAC), reflecting Taiwan government’s strong support for overseas business groups.

In her inaugural address, Hsieh announced that her two-year term would center on the “Taiwan Link” initiative, which aims to strengthen connections among Taiwanese businesspeople in the Philippines, promote generational succession, and encourage greater youth participation.

She emphasized that Taiwan Link is designed to expand professional networks, enhance mutual support, and inject new momentum into TAP.

Ahead of the ceremony, Hsieh launched the Taiwan Link initiative through an interactive networking session that facilitated direct engagement among participants. The activity helped Taiwanese entrepreneurs traveling from various Asian countries connect with locally based compatriot business leaders in the Philippines, exchange contacts, and explore potential areas of cooperation.

A distinguished audience from both Taiwan and the Philippines included legislators Chih-wei Chiu, Chia-pin Chung,

and Mong-kai Hung, who demonstrated strong legislative backing for overseas Taiwanese affairs.

In his remarks, Chow noted that the past year had seen steady progress in Taiwan-Philippines relations, with tangible achievements in trade, investment, and bilateral cooperation. He praised TAP for its long-standing role as a vital bridge between both sides not only in economic engagement, but also in cultural and community interaction, and expressed confidence that the new leadership would continue to expand bilateral opportunities.

Minister Chia-ching Hsu described the leadership transition as “historic” for TAP, noting that the appointment of a second-generation Taiwanese leader symbolized successful generational succession within the overseas Taiwanese business community.

On behalf of the Taiwanese government, she thanked overseas Taiwanese entrepreneurs for their long-term contributions to economic development and public diplomacy, particularly during times of global uncertainty. Hsieh also reaffirmed TAP’s commitment to supporting Taiwan–Philippines economic cooperation, including alignment with regional development initiatives such as the Luzon Economic Corridor. She stated that TAP stands ready to serve as a reliable partner for both governments and businesses, providing on-the-ground support for Taiwanese firms interested in investing or expanding in the Philippines.

She concluded by emphasizing that her administration would deepen engagement with Filipino communities, promote cross-sector and crossgenerational collaboration, and ensure that TAP continues to thrive as a forward-looking platform for cooperation between Taiwan and the Philippines.

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Thursday, February 5, 2026 | www.businessmirror.com.ph

Envoys&

AUSTRALIA ACCELERATES ECONOMIC ENGAGEMENT

as trade and investment links with PHL broaden

AS Australia pushes deeper into Southeast Asia under its long-term economic strategy, Philippine ports and logistics operators are emerging as critical enablers of twoway trade and supply-chain resilience.

From logistics and infrastructure, to services and supply chains: Australia is translating policy intent into commercial activity across the Philippine economy.

Australia’s economic activity in the country is increasingly shaped by numerous operationalizations. Beyond long-standing ties in education, development assistance, and people-to-people exchanges, commercial engagement between the

two countries is becoming more visible in sectors that underpin trade and regional connectivity.

This shift reflects Canberra’s push to deepen its economic presence in Southeast Asia, as well as Manila’s own efforts to modernize infrastructure and position itself more competitively within regional supply chains.

The trajectory is underpinned by a stronger bilateral framework: The elevation of the two countries’ relations to a Strategic Partnership in 2023 signaled a shared intent to expand cooperation beyond traditional diplomatic channels and into areas with direct economic impact. That intent is now intersecting as the Philippines gets its 2026 Asean chairship underway—a convergence that places added attention on trade facilitation, investment

flows, and the resilience of regional logistics networks.

Rather than a single flagship project, Australia’s growing economic engagement is taking shape by way of multiple elements such as corporate investments, operational partnerships, and policy alignment that together suggest a maturing commercial linkage.

Asean strategy into fore CANBERRA’S “Invested: Australia’s Southeast Asia Economic Strategy to 2040” provides the broad policy context for this activity. The strategy calls for Australian businesses to move deeper into Southeast Asian markets, not only as exporters but as long-term investors and partners in infrastructure, services, and supply-chain development.

The Philippines figures prominent-

ly in that outlook, given its market size, demographics, and strategic location within Asean.

In his January 29 BusinessMirror-Envoys&Expats interview (Envoy advances Australia’s cooperation ahead of the Philippines’ Asean chairship), Ambassador Marc Innes-Brown underscored that Australia’s economic engagement with the Philippines is increasingly focused on translating long-term strategy into practical cooperation. He noted that the elevation of bilateral ties to a Strategic Partnership has sharpened collaboration in areas with direct commercial impact, including trade facilitation, infrastructure, and supply chains—sectors that support both national growth and broader regional resilience. In practice, this means Australian economic engagement is no

&Expats

longer confined to episodic trade missions or projectbased cooperation. Instead, it is increasingly tied to the performance of core economic enablers—ports, logistics systems, regulatory frameworks, and commercial institutions—that determine the efficient movement of goods, services, and capital across borders.

Economic gateways

PORT infrastructure offers one of the clearest illustrations of how Philippine and Australian economic interests converge. Efficient terminals are critical not only for domestic distribution, but also for maintaining reliable trade routes linking Southeast Asia with Australia and beyond.

Philippine-based global terminal operator International Container Terminal Services Inc. exemplifies this dynamic. While headquartered in Manila, ICTSI’s international footprint— including operations and investments in Australian ports such as the Victoria International Container Terminal or VICT—highlights the two-way nature of commercial engagement. Its presence in Australia has contributed to capacity expansion and operational upgrades that support growing container traffic, while its domestic investments reinforce the Philippines’ role as a regional logistics hub. At the same time, developments involving Asian Terminals Inc. (ATI), which operates mainly at the Port of Manila, underscore the strategic importance of terminal operations to national and foreign stakeholders alike. Changes in ownership structure, capital infusion, and long-term concession arrangements are closely watched because they affect port efficiency, pricing, and competitiveness—factors that matter to Australian exporters and investors relying on Philippine gateways.

Port efficiency matters

AUSTRALIAN firms have also articulated concerns about the condition of Philippine logistics infrastructure. Port congestion, turnaround times, and hinterland connectivity directly influence the cost and reliability of bilateral trade, particularly for time-sensitive

or high-value goods. As trade between the two countries diversifies— from agricultural products and raw materials to manufactured components and services—the role of logistics becomes even more pronounced. Efficient ports enable Australian firms to integrate Philippine operations into wider Southeast Asian supply chains, while Filipino exporters benefit from smoother access to Australian markets. These practical considerations explain why infrastructure and logistics frequently surface in business dialogues, even when not explicitly framed as flagship bilateral projects.

Chairship, strategic context

ON November 19, 2025, Innes-Brown’s “Business Envoy” column “Australia activates Southeast Economic Strategy to 2040” cited that the two countries’ officials are actively pushing for broader economic cooperation under “Invested.” It illustrated collaborative efforts with Australian industry and innovation representatives aimed at strengthening trade, investment, and economic linkages, including in renewable energy, critical minerals, infrastructure and other emerging industries.

The Philippines’ chairship adds a regional dimension to these developments. The leadership post places Manila in a position to influence discussions on trade facilitation, customs modernization, and regulatory harmonization—issues that directly affect Australian businesses operating in Southeast Asia.

For Australia, closer alignment with Asean processes complements its economic strategy by reducing friction in cross-border trade and encouraging more predictable investment environments. As for the Philippines, the role offers an opportunity to showcase reforms and infrastructure improvements that strengthen its appeal as a commercial partner.

While the Strategic Partnership between Manila and Canberra provides the bilateral framework, Asean engagement offers the multilateral channel through which

broader economic gains can be realized.

Strategy to deal flow

THE durability of Australia’s economic engagement in the Philippines will ultimately depend on effective policy ambition translating into bankable projects and sustained commercial activity. Investors continue to weigh factors such as regulatory stability, concession transparency, and the balance between public oversight and commercial flexibility.

Recent developments in port concessions and equity participation illustrate both the opportunities and the complexities involved. Longterm arrangements can unlock capital and technology, but they also require governance mechanisms that ensure efficiency gains are broadly shared across the economy.

For Australian enterprises considering deeper participation— whether in logistics, services, or adjacent sectors—the Philippines presents a mix of promise and pragmatism: a growing market with improving infrastructure, but one

where execution and consistency remain decisive.

Broader economic trajectory

TAKEN together, these strands point to a relationship that is becoming more operational and less rhetorical.

Australia’s economic engagement in the Philippines is no longer defined solely by diplomatic goodwill or development cooperation, but by tangible commercial linkages that bind firms, infrastructure, and supply chains.

As both countries navigate regional integration and shifting trade patterns, the emphasis is likely to remain on practical enablers—ports, logistics systems, and regulatory frameworks—that support sustained growth.

For Australia, this represents a measured but deliberate acceleration of economic engagement; while for the Philippines, it offers another avenue to position itself as a credible partner in the evolving Indo-Pacific economy.

Brandplay wins Agency of the Year at 61st Anvil Awards, takes home 26 Trophies

Brandplay, one of the agencies in the PAGEONE Group, was named Agency of the Year at the 61st Anvil Awards of the Public Relations Society of the Philippines, after winning a total of 26 trophies across multiple categories.

Brandplay’s recognition comes during one of the most competitive years in the history of the Anvil Awards. More than 620 entries were submitted by agencies, corporations, nongovernment organizations, and institutions nationwide, with fewer than 200 awards ultimately conferred. This highly selective outcome underscores both the rigor of the judging process and the stature of the Anvil Awards as the country’s most respected benchmark of public relations excellence.

Brandplay is the agency on record of several leading local and multinational companies and has also serviced clients outside the Philippines. Its award winning body of work spans corporate reputation management, brand and marketing communications, advocacy and social impact campaigns, and integrated storytelling, demonstrating the agency’s ability to deliver insight driven solutions across sectors and markets. The agency’s performance this year reflects a consistent emphasis on strategy led creativity, stakeholder centric narratives, and measurable outcomes.

Brandplay’s major award winning campaigns highlight the agency’s versatility in working across education,

corporate social responsibility, and advocacy, while maintaining the same level of strategic discipline and creative excellence.

Fritz Cruz, Senior Director and Agency

Head of Brandplay, said the the Agency of the Year (AOY) recognition reflects the collective effort of its people and partners.

“This award belongs to the Brandplay team and to the clients who trusted us with their brands and reputations,” Cruz said.

“Winning AOY affirms our belief that great communications work starts with strategy, discipline, and respect for the audience.

We are grateful for the partnerships that allowed us to create work that is not only creative, but meaningful and effective.”

Vonj Tingson, President of PAGEONE Group, emphasized that Brandplay’s achievement reflects the broader culture of excellence within the network. “Brandplay’s Agency of the Year win is a proud moment for the entire PAGEONE Group,” Tingson said. “It demonstrates what happens when talent, clear thinking, and values driven

leadership come together. Each agency in the network is encouraged to lead in its own space, and Brandplay’s performance this year shows the strength of that model.”

Brandplay is the latest agency within the PAGEONE Group Network to be named Agency of the Year at the Anvil Awards. Other agencies in the network, including ReVerb, Coms360, and PAGEONE Media and Communication, have also received the same distinction in previous years, reinforcing the group’s consistent presence at the highest level of industry recognition and its long term commitment to professional excellence. PAGEONE Media and Communication has already been conferred Hall of Fame Awardee after winning five AOY plum in the past.

The Anvil Awards are widely regarded as the gold standard of public relations excellence in the Philippines, recognizing outstanding programs and agencies that demonstrate strategic insight, creativity, ethical practice, and measurable results.

MIAS 2026: Powering mobility for the future of the automotive industry

THE drive towards mobility starts now. Following the successful celebration of its 20th anniversary, Worldbex Services International (WSI), the organizer of the Manila International Auto Show (MIAS), proudly announces the return of MIAS this coming April 9 to 12, 2026, at the World Trade Center Metro Manila, from 10 am to 9 pm. Once again, the country’s premier automotive event will

take center stage, bringing together leading automotive brands and placing innovation, performance, and mobility in the spotlight.

For over two decades, MIAS has continuously showcased the best of the automotive industry, underscoring its vital role in shaping modern society. Central to this progress is the industry’s unwavering commitment to mobility, constantly pushing boundaries through innovation, technology, and design. With the 2026 theme being “Powering Mobility,” MIAS honors this forward driven movement by celebrating the advancements that continue to propel the industry into the future.

Recognized as the leading automotive event in the Philippines, MIAS marked a milestone during its 20th anniversary in 2025, attracting over 170,900 visitors. The event featured more than 145 exhibitors across 33,000 sqm of exhibit space and showcased over 310 cars, trucks, and motorcycles throughout the weekend. Building on this momentum, WSI aims to elevate the MIAS experience in 2026 by delivering a larger platform, bolder showcases, and even more memorable moments for both industry stakeholders and automotive enthusiasts.

The main highlight of MIAS 2026 is the Mobility Marathon, a dynamic series of vehicle launches where participating brands will unveil their latest models and technological

innovations to the public for the first time. Visitors will also have the opportunity to experience these vehicles firsthand at the Test Drive Avenue. Additional attractions include the Truck Zone, featuring trucks of all sizes; the Die-Cast Car Collection, showcasing rare and distinctive collectible die-cast models; and the Car Club Display, where passionate automotive communities from across the Philippines present their prized vehicles.

To further energize the event, MIAS will once again host signature competitions such as the MIAS Petron Custom and Classic Car Competition, in partnership with Petron, celebrating outstanding classic and customized vehicles across various categories. The event will also feature Ms. MIAS, a pageant highlighting representatives from participating automotive brands to showcase their beauty and grace.

With innovation, mobility, and passion at its core, the Manila International Auto Show is set to drive the automotive industry forward, bringing the future of mobility closer to the public than ever before. MIAS 2026 is happening from April 9 to 12, 2026, at the World Trade Center Metro Manila. You can get your tickets now at https:// manilaautoshow.com/ MIAS 2026 is an event organized by Worldbex Services International, and is for the benefit of the ABS-CBN Foundation Inc.

PAGCOR starts accepting entries for Photo Contest 2026

THE Philippine Amusement and Gaming Corporation

(PAGCOR) has formally opened its Photography Contest for 2026 by inviting amateur and professional Filipino photographers to capture images of children at play in local communities nationwide.

This year’s contest theme, “Kids at Play (Kids@Play),” aims to highlight everyday moments that reflect the joy of childhood and the values formed through community play by capturing them through photographs.

PAGCOR Chairman and CEO Alejandro H. Tengco said the contest aims to immortalize scenes that show how playing games helps shape a child’s character and aspirations.

“Simple as they may seem, these games help instill discipline, persistence, sportsmanship, and resilience – values that are developed in children during their formative years and which may later serve as a foundation for their dreams, whether in sports or in life,” Mr. Tengco said.

“Sa paglalaro nagsisimula ang pangarap. Sa paglalaro rin nahuhubog ang kanilang kinabukasan,” he added.

[“Dreams begin with playing. Their future is also shaped through playing,” he added.]

The contest features photos under the Conventional, Mobile, and Drone categories.

The Conventional Category includes photographs taken with digital cameras, including single lens reflex, mirrorless, compact, point-and-shoot, bridge, and rugged models.

The Mobile Category covers images captured using smartphones, tablets, action cameras, 360 cameras, and similar devices, while the Drone Category features aerial photographs taken using drone-mounted cameras.

PAGCOR will select eight grand winners per category.

Winners in the Conventional Category will receive P100,000 each and a trophy, while grand winners in the Mobile and Drone categories will receive P50,000 each and a trophy.

In addition, 24 non-winning finalists will receive

in the

will receive P35,000

and Drone categories will receive P20,000 each. Entries must be taken between September 23, 2025 and June 30, 2026.

The contest is open to all Filipino professional and amateur photographers who are at least 16 years old as of January 1, 2026. Participants whose entries advance to the finals will be required to submit a signed waiver from the child’s parent or legal guardian, authorizing PAGCOR to use the images for contest-related and promotional purposes. Entries must be submitted through the official PAGCOR Photography Contest 2026 website at https://www.pagcor. ph/photocon2026, where participants are required to register online prior to submission of their entries. The submission deadline is June 30, 2026.

KINGS Choir of SSISM wins historic overall champion title at YAPAF 2025

IN a historic first for the Philippines, the KINGS Choir of Stonyhurst Southville International School – Malarayat Campus claimed the Overall Champion (Greatest Performer) Award at the Young Ambassadors Performing Arts Festival (YAPAF) 2025, held December 7 to 8, 2025, in Ho Chi Minh City, Vietnam.

Competing internationally for the very first time, the choir also secured gold in both the Classical and Musical Theater categories, impressing a panel of adjudicators from across Asian countries and audiences from the region. The festival featured 104 entries from Vietnam, Indonesia, Thailand, Cambodia, and the Philippines, making the choir’s sweeping victory a remarkable feat for a group established just over a year ago.

The KINGS Choir is composed of students, teachers, and staff, exemplifying unity and collaboration across the school community. Individual excellence was also recognized, with Jose Nicholas S. Pavia, Grade 12 student, earning the Silver Award,

Carmen’s Best unveils limited edition ice cream flavors, new milk bar

CARMEN’S Best has expanded its ice cream product line with new limited-edition flavors and exciting dairy treats made with 100 percent fresh milk and high-quality standards. Staying true to its #NoShortcuts philosophy of providing only the best for its customers, these new products give consumers even more reasons to choose Carmen’s Best.

First among its new innovations are two new ice cream flavors: Ube Halaya, a rich and creamy homage to the Filipino classic reimagined as a smooth, sweet ice cream, and Tiramisu, a local twist on the beloved Italian dessert with espresso-infused mascarpone ice cream that is sweet, creamy, and indulgent.

“We’re excited to bring these new limited-edition ice cream flavors to our customers,” shares Cammie Jimenez, Senior Brand Manager of Carmen’s Best. “They’re familiar, well-loved desserts, but made the Carmen’s Best way: 100 percent fresh milk, no shortcuts, and handcrafted using only the finest ingredients.”

The launch of these new flavors also marks a new chapter in the brand’s meaningful partnership with HOPE Philippines. When customers buy Ube Halaya and Tiramisu ice cream in pints or scoops, part of the

sale goes toward building public school classrooms in different areas of the country, an initiative spearheaded by HOPE Philippines. Now available nationwide online at carmensbest. com and in leading supermarkets, Carmen’s Best Ube Halaya and Tiramisu ice cream come in exclusive 440 ml pints at P520 each. They are also offered at all Carmen’s Best scooping stations in Rockwell, SM North Edsa, MOA, SM Makati, and Shangri-La Mall for P195 per scoop. Carmen’s Best has also launched the all-new Carmen’s Best Milk Bar, the local gourmet ice cream treat crafted with 100 percent fresh milk and no artificial colors or sweeteners. This purely indulgent bar is also perfect as your new guilt-free treat, as it only contains 183 calories and provides 12 percent of the recommended daily calcium intake. It’s available online at carmensbest.com, in groceries, and at all

Carmen’s Best ice cream stores for P88 per bar or P528 for a box of six. So, whether you’re a longtime Carmen’s Best fan or just about to discover its ultra-indulgent, 100 percent fresh milk, and its #NoShortcuts philosophy through

this new product line-up, this is your chance to treat yourself to products thoughtfully handcrafted – and to share a little joy and hope while you’re at it.

Launched earlier this year, Carmen’s Best Milk is growing its lineup with two new variants: Barista Fresh Milk, crafted to complement coffee, and Salted Caramel Milk, inspired by the brand’s best-selling ice cream flavor. Making fresh milk even more accessible, Carmen’s Best has partnered with 7-Eleven to offer convenient on-thego sizes in stores nationwide.

To meet the growing demand for fresh, local milk, Metro Pacific Agro Ventures and LR Group also opened the Metro Pacific Dairy farms in 2025 – a state-of-theart facility housing 222 Purebred Holstein Freisians. This new breed of cows has significantly increased the production of milk per day, en route to breaking records in local milk production in the Philippines. The brand’s expansion continues into 2026, with the brand’s already opened scooping stations in Cebu at Nustar Resort and SM JMall, alongside new ice cream and dairy facilities in Bukidnon. For more information, follow Carmen’s Best on Instagram, Facebook, and TikTok.

and Prince Aaron Emanuel E. Orquita, Grade 9 student, taking home the Gold Award, highlighting the exceptional talent within the group.

Guided by Jayron Rezaba, supported by the tireless efforts of KINGS Choir Coordinator Viola Villena, and backed by the unwavering support of parents, teachers, and the entire SSISM community, this victory is truly a triumph shared by all.

“This historic achievement is a testament to the dedication, discipline, and talent of our students, teachers, and staff,” said Principal Donnabelle Atienza. “The KINGS Choir has not only represented our school with excellence but has also brought pride to the Philippines on an international stage.”

The KINGS Choir’s victory marks a milestone in Philippine performing arts, proving that Filipino youth and educators can compete—and win—against the best in Asia, earning recognition and admiration from international adjudicators.

Hong Kong firm begins arbitration proceedings over ruling against Panama Canal port contract

By Kanis Leung The Associated Press

HONG KONG—Hong Kong’s CK Hutchison Holdings said Wednesday its subsidiary started arbitration proceedings against Panama after that country’s Supreme Court ruled a concession for the subsidiary to operate Panama Canal ports was unconstitutional.

Hutchison said it strongly disagreed with last week’s ruling, and China warned Panama would pay “a heavy price” if it persisted. Panama’s president has moved to assure the public that the ports would operate without interruption after the ruling, which advanced a US aim to block any influence by China over the canal linking the Atlantic and Pacific oceans.

but pointed to politicians from some countries who had said they were “encouraged” by the ruling, in an apparent veiled reference to US Secretary of State Marco Rubio.

In a statement shared on social media platform WeChat, the office said that China will never bow to hegemonism and has sufficient means and tools, as well as capability, to uphold justice in the international economic and trade order.

US-China tension. CK Hutchison is owned by the family of Hong Kong’s richest man, Li Ka-shing.

The company said last July that it was considering seeking a Chinese investor to join as a significant member of the consortium under its sale plan, a move that some interpreted as way to please Beijing, but CK Hutchison hasn’t said more since.

The rules are overseen by the chamber’s International Court of Arbitration, an independent body, and it’s unclear what the impact of the proceedings would be. The Panamanian president’s office and commerce ministry did not immediately respond to requests for comment late Tuesday local time.

Hutchison’s subsidiary, Panama Ports Company, began arbitration proceedings Tuesday under the rules of the Paris-based International Chamber of Commerce, the company said in a statement.

The ruling draws ire from China THE court ruling has drawn backlash from China, and the tensions may complicate Hutchison’s plan to sell its port assets in dozens of countries to a group that includes the US investment firm BlackRock Inc.

The planned sale has already been caught up in tensions between Beijing and Washington.

US President Donald Trump, who has alleged that China interferes

with the canal, initially welcomed that plan. However, it apparently angered Beijing and drew a review by Chinese anti-monopoly authorities.

On Tuesday night, Beijing’s office overseeing Hong Kong affairs criticized the Panama court ruling as legally groundless and ridiculous, saying the ruling reflected that Panamanian authorities were bowing down to hegemonic powers. It did not specify the countries

Indonesia’s largest coal miners spared from major output cuts

By Eddie Spence

SOME of Indonesia’s biggest coal miners have been spared from cuts to production quotas set by the government, leaving much of the burden to fall on smaller firms.

PT Bumi Resources, PT Adaro Andalan Indonesia and PT Indika Energy have all received their full requests for coal mining quota this year, totaling about 170 million tons, according to people familiar with the matter who asked not to be named disclosing private information. The companies hold special mining contracts, known as IUPKs, which pay higher royalties to the government.

Indonesia, the world’s biggest exporter of power station coal, is looking to slash output by nearly a quarter this year to around 600

million tons in an attempt to boost prices. The Indonesian Coal Miners Association said last week the cuts for individual miners would

be from 40% to 70%, and warned that may make some operations uneconomic, potentially leading to massive layoffs and defaults

on loans.

The smaller miners may be less able to bear the costs of reducing production. The industry is already facing its toughest conditions in years, with the government looking to levy large fines on operations deemed to have breached their forestry permits. Indonesia is also looking to impose an export tax on coal, which would further undercut profits.

Coal remains critical to Southeast Asia’s largest economy, with mining concentrated in Kalimantan and Sumatra. The industry is estimated to employ between 250,000 and 400,000 workers, according to a report last year from the Energy Shift Institute.

A spokesperson at Bumi declined to comment, while spokespeople at Adaro and Indika didn’t respond to messages seeking comment. Bloomberg News

Ford in talks with Geely to share production capacity in Europe

By Linda Lew

FORD Motor Co. has held discussions with China’s Zhejiang Geely Holding Group Co. about sharing manufacturing capacity in Europe, with the Detroit carmaker seeking new global partnerships as it overhauls its electric vehicle strategy.

A delegation of Ford executives visited China this week to discuss opportunities, including the use of its assembly plant in Valencia, Spain, according to a person familiar with the matter, who asked not to be identified as the information is private.

Utilizing the Valencia facility would be a win for both parties, allowing Geely to avoid paying hefty European tariffs on imports of made-in-China EVs, while giving the plant a new lease of life. Since 2024, it’s only produced the Ford Kuga sport utility vehicle and output likely dropped below 100,000 units last year, according to French consultancy Inovev. The factory has planned annual capacity of 400,000 units. A representative for Ford said it has “discussions with lots of companies all the time on a variety of topics. Sometimes they materialize, sometimes they don’t.”

A Geely spokesperson declined to comment. Reuters first reported the talks.

Ford’s expensive re-think of its EV strategy has seen the American automaker increasingly turn toward some of China’s best-known brands, which Chief Executive Officer Jim Farley has warned pose a “colossal strategic threat,” about potential tie-ups. In addition to Geely, Ford has held discussions with Chinese automakers including BYD Co. and Xiaomi Corp. about collaboration, according to a Financial Times report.

The talks between Ford and

Geely focused on manufacturing and didn’t include the potential for shared technologies such as automated driving, according to the person familiar. The discussions were preliminary and may not result in a deal, the person said. Geely, which also controls Volvo Car AB and Lotus, is already looking to better integrate with brands under billionaire Chairman Li Shufu’s sprawling empire. Li said last year that his company would stop building new car plants due to severe global overcapacity and instead will use existing facilities within the group or work with partners. Bloomberg News

PepsiCo cuts prices on drinks, snacks amid slipping demand

By Dee-Ann Durbin AP Business Writer

“Panama’s authorities should recognize the situation and correct their course,” it said. “If they persist in their own way and refuse to see reason, they will pay a heavy price both politically and economically!”

A company caught in US-China tensions

THE Hutchison subsidiary has operated ports at both ends of the Panama Canal since 1997.

The awkward position Hutchison found itself in highlights the challenges Hong Kong business elites face in navigating Beijing’s expectations of national loyalty, especially during

The consortium also includes BlackRock subsidiary Global Infrastructure Partners and Terminal Investment Limited, which is chaired by Italian shipping scion Diego Aponte, whose family reportedly has a longstanding relationship with Li’s.

Last May, Hutchinson co-managing director, Dominic Lai told shareholders that Terminal Investment was the main investor.

Panama’s government has maintained it has full control over the canal and that the operation of the ports by Hutchison does not mean Chinese control of it. But Rubio made clear that the US viewed the operation of the ports as a national security issue.

Rolls-Royce targets Boeing sales with upgraded engine

By Danny Lee & Benedikt Kammel

ROLLS-ROYCE Holdings Plc

said it can win back business and secure new deals with an upgraded Trent 1000 engines powering Boeing Co.’s 787 model, after years of losing ground on the US planemaker’s bestselling widebody aircraft.

Actively pursuing sales campaigns with the Trent 1000 XE will be a main focus for this year, said Rob Watson, who oversees RollsRoyce’s civil aero engine business.

The new engine, which promises greater durability, has been in production since the second half of last year, though Watson said it’s too soon to say if the model is also exceeding its performance metrics.

“We’re actively in sales mode,” Watson said in an interview at the Singapore Airshow, with new engine supply deals a big focus for this year. “I think we can win back customers and we can win new customers.”

Rolls-Royce has long been an also-ran on Boeing’s popular 787 as the overwhelming majority of customers opted for the rival engine by GE Aerospace. That gave the UK manufacturer only a subordinate role on a wildly successful program, with more than 1,200 units in service.

Possible sales campaigns for the Dreamliner include Malaysia Airlines Bhd. British Airways took the unusual step a few years ago to switch to GE for its new 787s, in a public snub by the country’s flagship carrier of the biggest UK manufacturer.

The upgrades benefiting the Trent 1000 engine are part of a

wider £1 billion campaign to improve durability on Rolls-Royce’s biggest engines. Those include the Trent XWB types that exclusively power the Airbus SE A350 widebody.

The larger XWB-97 variant in particular has come under scathing criticism from Emirates President Tim Clark, who has faulted Rolls-Royce for subpar durability, and has refused as a result to order Airbus’s largest production plane. Rolls-Royce is now focused solely on the widebody market and business jets, having abandoned its role on the International Aero Engines consortium in 2012 that built the V2500 engine for the original Airbus A320.  That retreat meant Rolls-Royce was no longer a participant in the single-aisle market, by far the largest segment of civil aviation. Watson said his company is studying a path back, most likely by working with a partner.

“I think we’ve been quite clear that we’re looking at partnering,” said Watson. “There are a range of options around a partnership and we will explore all of them.” Rolls-Royce’s financial prospects have improved in recent years. Under the leadership of Chief Executive Officer Tufan Erginbilgic, Rolls-Royce shares have almost quadrupled in value since the start of 2024. For the next-generation propulsion systems, Rolls-Royce is developing its so-called Ultrafan engine platform, with the technology also flowing back into existing Trent engines. While fuel efficiency was long a main focus of new engines, durability has become paramount as maintenance issues mounted in recent years. Bloomberg News

PhilHealth warns against fraudulent websites

The Philippine Health Insurance Corporation (PhilHealth) issues an urgent warning to all its members and the public regarding the proliferation of fake and unauthorized websites claiming to be official portals for registration and member services.

“It has come to our attention that several suspicious websites are mimicking the official PhilHealth interface to deceive users into providing sensitive information. We urge everyone to remain vigilant and follow these guidelines to identify legitimate platform,” said PhilHealth President and CEO, Dr. Edwin M. Mercado.

PhilHealth reminds the public to look for these red flags when accessing online services:

1. Incorrect URL/Web Address: The only official website of PhilHealth is

www.philhealth.gov.ph. Be wary of sites that end in .com, .net, or other extensions.

Official Philippine government websites typically end in .gov.ph.

2. Unauthorized Logos: Scammers often use low-quality or outdated versions of the PhilHealth logo. Always compare the branding with official PhilHealth offices and our verified social media pages.

3. Requests for Suspicious Information: PhilHealth will never ask for the following

love and luck this

THIS February, Crowne Plaza Manila Galleria and Holiday Inn & Suites Manila Galleria invite guests to celebrate the season of love and luck with thoughtfully curated Valentine’s Day and Chinese New Year experiences, perfect for couples, friends, and families.

Suite – Heart Getaway Package. Turn Your Hotel Stay into a Love Story.

Guests can indulge in a romantic stay with the Valentine’s Suite package, which includes:

• Overnight stay in a Suite Room with Lounge Access

• Pick-up and Drop-off within Metro Manila

• Valentine-themed amenities

easier. The brand is introducing the Bouquet Vanilla Cream Cake, styled like a tulip bouquet at first glance and made to be sliced and shared for dessert. Available as the Pink Tulip Bouquet and Red Tulip Bouquet, the Bouquet Vanilla Cream Cake is made with vanilla chiffon, light strawberry cream filling, cream cheese frosting, and edible buttercream tulips. Prices start at P525, available in 5-inch and 8-inch sizes. The Bouquet Vanilla Cream Cake is available in Max’s Restaurant Luzon stores (except Bicol). Customers may pre-order online via https://order.maxscornerbakery. ph/ or https://delivery.maxschicken.com/. Pre-orders require a five to seven day lead time, and orders must be placed at least 5 days before the preferred pick-up date. Walkin same-day purchases are also available instore, while supplies last.

through an unofficial website:

• Direct payments or bank transfers

• Donations

• Sensitive personal login credentials outside of our secured Member Portal.

“We take the security of our members’ information seriously, and we encourage the public to only use our official website for any transactions and to report any suspicious links or pages immediately,” Dr. Mercado added.

If you encounter a suspicious website, please do not click any links and report the URL immediately to our official channels: Facebook: @PhilHealthOfficial Email: actioncenter@philhealth.gov.ph Website: www.philhealth.gov.ph

PhilHealth remains committed to providing secure and reliable digital services. Let us work together to stop online fraud and protect your benefits.

Members are advised to immediately report suspected fraudulent websites to their nearest PhilHealth Regional Office or call the Corporate Action Center at (02) 866-225-88. Mobile hotlines are also available: 0998-857-2957 / 0968-865-4670 (Smart) and 0917-127-5987 / 0917-1109812 (Globe).

• Couple’s massage at Soothe Spa

• Four-course plated dinner in the suite

• Choice of breakfast at the restaurant or lounge

• YSA Skin Care gift vouchers

Chinese New Year Celebrations

At Xin Tian Di, the award-winning Chinese restaurant, guests can enjoy a special Red Fortune Set Menu, featuring traditional Fortune Tikoy at Php 1,220 ++ per box, symbolizing prosperity and good fortune. Guests can also:

• Pick a gift from Xin Tian Di’s Money Tree on their next visit

• Participate in an interactive Baijiu Masterclass

• Craft their own Lunar New Year Yu Sheng Toss to toast the year ahead (available from February 8, 2026)

• Festivities come alive with a vibrant Lion and Dragon Dance celebration on February 17.

Valentine’s & February Dining Highlights

Seven Corners Restaurant

• Valentine’s “Third Wheel” Promo: Dine as a trio on February 14, and the third wheel enjoys 50% off. Plus, a complimentary lunch or dinner await for third wheelers on their next visit.

• 50 percent off lunch and dinner throughout February

(except February 14 and 17)

• Sea-sons Catch every Friday & Saturday

The Gallery Bar

Galentine’s Day Celebration — a chic night out for friends

Art, Peace & Love art gallery by Wendy Rondaris

Thirst-day Ladies’ Night — ladies buy 1, get 1 cocktail

The Agenda

• ValenTreats: A delightful selection of Valentine-themed sweet goodies

Whether celebrating romance, friendship, or the Lunar New Year, guests are invited to make February memorable with exceptional dining, luxurious stays, and festive moments. All offers are subject to terms and conditions.

For inquiries and reservations: Restaurants: fandb.reservations@ihg.com | T +63 2 8790 3100 | M +63 920 966 1458 Rooms: Crowne Plaza Manila Galleria | Holiday Inn & Suites Manila Galleria Terms and conditions apply. Book now and celebrate the season in style.

earn 1 Rewards point for every P100 spent.

To start earning and check your Rewards Points, just log in to the BDO Pay app and activate your BDO Rewards Card—it’s that quick and simple.

BDO Pay makes life easier with features

that fit your lifestyle—Pay Bills, Send Money, Scan to Pay, Split Bill and Request Money. Every transaction is effortless and safe with exclusive rewards that add value to your day-to-day spending. Make every payment count. Download the app from the App Store, Google Play, or AppGallery. Sign in using your BDO Online username and password, and you can discover how convenience and rewards can work together. For full promo details and list of participating SM Retail merchants, visit bdo.com.ph/bdopay-evouchers.

Okada Manila unveils romantic experiences for Valentine’s Day

THIS Valentine’s season, Okada Manila sets the stage for a grand celebration of love, offering curated experiences that include intimate dining, indulgent spa escapes, and heartfelt gifts. With breathtaking views and a romantic ambiance, the Forbes 5-star integrated resort stands as the ultimate destination for lovers.

Dine in Romance Celebrate love with thoughtfully crafted menus at Okada Manila’s signature restaurants. At Medley Buffet, indulge in a Valentine’s dinner featuring fresh seafood and decadent desserts, priced at P4,500 nett per adult and P2,250 nett per child on February 14, 2026. Enbu offers an exclusive Valentine’s set menu for two, showcasing authentic Japanese flavors from February 13 to 16 for P5,000 nett. For an Italian-inspired evening, La Piazza presents a romantic set menu for two on February 14 and 15 at P7,000 nett. Sweeten the occasion with artisanal pastries at The Pastry Shop, available from until February 15, starting at P450 nett.

Pair your meals with Valentine’sinspired drinks at select restaurants, including La Piazza, Lobby Lounge, Okada Lounge, Medley Buffet, and Enbu. Choose from refreshing options like Pink Lady or Cotton Kiss for P420 each, or Red Roses for P250.

Escape and unwind

Escape into romance this Valentine’s Day at Okada Manila, where every moment is crafted for tranquility. Treat your loved one to a luxurious stay in one of our beautifully appointed suites and let the soothing spa experiences recharge your body and soul. Enjoy up to 20 percent off and create unforgettable memories in the ultimate sanctuary of love.

This exclusive offer is perfect for guests seeking rest and relaxation. It includes spacious accommodations and a soothing

30-minute spa treatment for two at The Sole Retreat.

Gifts of Love

Make your love story even more special with thoughtful gifts from Les Fleurs. From the Eternal Desire Flower and Chocolate Box (P3,788) to the Scarlet Romance Bouquet of Roses (P6,800), these arrangements are perfect for expressing your affection. Les Fleurs’ offerings are available from February 10 to 14.

Guests who shop at Okada Manila’s retail outlets from February 7 to 16 can also receive a complimentary diffuser with a minimum spend of P25,000, or P20,000 for Reward Circle members.

Moments of Bliss

Relax and reconnect with your partner with The Retreat Spa’s Valentine’s packages. The Chocolate Bliss package (P14,888 nett) includes a chocolate body scrub and a bespoke massage, while the Rose-Scented Romance package (P18,888 nett) features a rose milk bath, a bespoke massage, and handcrafted pralines. Both packages come with two glasses of white wine, a long-stemmed rose, and a Valentine’s cake. Extend your celebration with the “A Soothing Getaway” offer, providing up to 25 percent off suites with an option to include a beautiful floral arrangement.

Heart-racing action

Get ready for a heart-pumping adventure! This Valentine’s, Thrillscape has another challenge that’s sure to get your heart racing. Bring your loved ones along and make unforgettable memories as you dive into an adventure filled obstacle course with one-of-a-kind thrills and action. Take part and get a chance to win exciting prizes at Thrillscape’s ultimate Valentine’s challenge happening on February 13 and 14, from 2 pm to 6 pm.

Lucky in Love

Reward Circle members can enjoy added perks this Valentine’s season. Spend PHP 2,000 at select restaurants from February 10 to 23 and receive two complimentary Valentine’s Coolers to share. At The Retreat Spa, choose from one of four romantic packages and receive a bonus gift from the lucky bowl. Les Fleurs is also offering an additional five percent discount on floral arrangements when you present your Reward Circle card.

Okada Manila has thoughtfully crafted every detail to ensure a Valentine’s celebration like no other. Whether it’s dining, relaxing, or finding the perfect gift, the resort promises to make this Valentine’s truly unforgettable. For inquiries and reservations, email RestaurantReservation@okadamanila.com or call +632 8555 5799. You can also visit https://www.okadamanila.com/in-loveat-okada-manila

Wooshi rolls into PHL, new concept powered by SaladStop!

WOOSHI officially launches in the Philippines as a new concept powered by SaladStop!, marking the brand’s first store outside Singapore.

Opening at Central Square in Bonifacio Global City, within the existing SaladStop! store, Wooshi expands the space’s offering with a distinct new concept. Rooted in maki rolls and rice bowls, Wooshi brings a fresh, modern take on Japanese-inspired comfort food—reimagined with innovative flavour combinations, vibrant ingredients, and formats designed to be enjoyed on-the-go.

Created for today’s fast-paced lifestyles, Wooshi’s offerings are made to fuel you throughout the day while keeping things fun, expressive, and full of personality.

At the heart of the brand is “Sushi Set Free,” Wooshi’s guiding idea that treats rolls as a canvas for creativity. Every combination is shaped by real conversations and collaborations with friends, family, and colleagues, bringing together comforting tastes with unexpected twists.

The menu is approachable, expressive, and designed to spark connection and conversation; no rules, no fuss, just food that fits how people actually live.

“Introducing Wooshi in the Philippines reflects how we continue to respond to today’s evolving food preferences,” shared Anton Huang, president of SSI Group Inc.

“Filipino consumers are looking for meals that are flavour-forward, flexible, and easy to fit into their daily routines. Wooshi meets those expectations with a concept that is approachable, customisable, and designed for how people eat today.”

Complementing this creative spirit is Wooshi’s functional promise, “Power Up with Wooshi.” Its maki rolls and rice bowls are crafted to deliver satisfaction, nourishment, and convenience, quick meals that fit seamlessly into busy routines without compromising on flavor.

Maki rolls take center stage, with offerings such as Big Bang Tofu, combining grilled tofu, tempura enoki, toasted almonds, and creamy basil pesto, and Cali Crush with crab sticks, crunchy ebiko, avocado, and wasabi mayo.

Heartier options include Pork N’ Roll with pork adobo, mango, and chicharon bagnet, as well as Seoul Sister with bulgogi beef, melted cheese, and kimchi. Premium selections like Tuna Turner, Salmon Sensei, and Dragon Hug round out the roll lineup. Rice bowls continue the same flavor-forward approach, including Seoul Mate with bulgogi beef and yuzu teriyaki, Ebi Ever After with tempura ebi and ramen egg, and Sensei Unagi with grilled mushrooms and furikake. Snacks, desserts, and drinks keep the flavor rolling; easy to grab, fun to share, and ready whenever hunger strikes.

The power of saying no: Guarding family time

IN today’s world, overcommitment has almost become a badge of honor. We fill calendars until there’s barely room to breathe—school activities, work deadlines, social obligations, and weekend commitments stacked one after another. Saying “yes” often feels easier than saying “no.” Yet many families feel the same quiet consequence: exhaustion, unfocused attention for family members, and time together reduced to discussing schedules.

Beneath this constant busyness is guilt. Parents worry that saying no means depriving children of opportunities, disappointing others, or falling short of expectations. But research and experience tell us otherwise. The American Academy of Pediatrics (AAP) consistently emphasizes that strong family relationships and predictable routines are protective factors against childhood anxiety, behavioral issues, and emotional dysregulation, with studies showing consistent family meals linked to lower rates of depression and obesity in kids. When family time is treated as optional, emotional connection becomes fragile, as noted in Harvard University’s “Making Caring Common” project, which highlights how quality interactions buffer against stress. More than this, according to www.firstthingsfirst.org about Why Early Childhood Matters, “90 percent of a child’s brain growth happens by age 5.... The early years are a critical window of opportunity, shaping a child’s ability to learn, think and thrive. Early experiences— positive or negative—(become) the foundation for their future.

That is why last December, we learned to “simplify” our holiday. We decided to focus on time with our family like playing mahjong, trying restaurants we wanted and simply staying put to enjoy the stillness of the break. We kept get-togethers with friends to a minimum but unmistakably meaningful. We also squeezed in some new activities like Pickleball as a family. Saying no is not withdrawal. It is intentional leadership.

Here are parental tips to help guard family time without guilt, backed by expert insights:

■ Decide when your family time is nonnegotiable. Choose one daily anchor—dinner, bedtime, or a short evening check-in. The AAP

further notes that consistent family routines support emotional security, self-regulation, and better academic performance in children, with research from the Journal of Developmental & Behavioral Pediatrics confirming reduced behavioral problems.

■ Practice saying no without explanation. Not every “no” requires justification. Boundaries teach children self-respect and discernment, as psychologist Brené Brown explains in Daring Greatly: Clear Limits Foster Trust and Emotional Safety. When parents model this, children learn that their time and energy are valuable too.

■ Replace activities with connection, not emptiness. Saying no only works when you intentionally replace it with presence. Use the time for shared play, storytelling, or simple conversation. Research from the Gottman Institute shows that uninterrupted parent-child interaction lowers cortisol (stress hormone) levels and builds resilience, with daily “connection rituals” predicting stronger sibling bonds. Harvard studies also link high-quality family time to better mental health outcomes.

■ Create screen-free zones or moments. Screens often fill the gaps left by overcommitment. Establish screen-free dinners or evenings. The AAP recommends clear media boundaries—no screens under 18 months (except video chat), limited highquality content for ages 2 to 5. Try to make Saturday mornings to search for weekly screen-free activities you can do throughout the week and a grand one

FILIPINO STUDENT-CHEF JOINS CULINARY OLYMPIAD IN INDIA

GRADUATING Culinary Arts Management student Jomari Bernardo is set to represent the Philippines at the 12th International Young Chef Olympiad (YCO) in India. Bernardo, who hails from the De La Salle College of Saint Benilde (DLS-CSB) School of Hotel, Restaurant and Institution Management, is the sole representative of the country in the world’s largest student chef competition hosted by the International Institute of Hotel Management.

Themed “Preserving the World’s Global Culinary Heritage through AI,” YCO welcomed participants from 50 countries to compete for the championship this year.

In the first round, Bernardo will fly to Goa and face off against aspiring chefs from host India, Jordan, Nepal, Portugal, Sweden, Timor Leste, Uganda, and Uzbekistan. Contenders from other nations will lock horns in the cities of Bangalore, Hyderabad, Delhi, and Pune.

Contestants are to prepare a fish dish and a vegan dessert for the first round. Bernardo’s team will whip up Filipino-inspired specialty rellenong bhetki (reversebarramundi roulade with sweet potato-carrot puree, spinach sauce, fennel, and grape salad).

during the weekend. This can be arts & crafts, or even more fun things like mini arcade games like basketball, air hockey or pinball.

■ Invite extended family into protected rituals. Grandparents, titos, and titas strengthen a child’s sense of belonging. Shared meals, game nights, or storytelling across generations reinforce emotional safety and identity.

■ Remind yourself that boundaries are acts of love. Psychologists studying child development, like John Bowlby on attachment theory, emphasize that children thrive not on endless options, but on consistent availability from secure caregivers. Presence builds secure attachment.

Saying no will still feel uncomfortable at times. Guilt may surface, especially amid cultural pressures where busyness signals success. Yet the goal of parenting is not to fill every hour, it is to have enough space for meaningful activities and quality rest or downtime. When we protect family time, we teach children discernment, resilience, and the quiet power of presence over performance.

As we move through busy weeks and fuller calendars, let us remember this: The simplicity of family presence is precious. It shields our children from stress, anchors them in connection, and reminds them that home is not where schedules live—it is where they are seen, heard, and deeply loved. By saying no strategically, we say yes to a better quality and more purpose-filled family life.

GH MALL IGNITES LUNAR NEW YEAR WITH 2ND LION DANCE COMPETITION

CELEBRATE culture, skill and spectacle this Lunar New Year at GH Mall’s South Wing Atrium. On February 8, 2026, the 2nd Lion Dance Invitational Competition returns, now recognized as a Gold Winner in the IBA Stevies 2025, solidifying its reputation as one of the country’s most prestigious

This will be paired with maruya (vegan deep fried banana bread with mocha mousse, orange-lemon reduction, and chocolate soil).

After the preliminaries, the up-and-coming chefs are required to utilize a whole deboned chicken and invent a dessert using strudel dough. Bernardo will put together his chicken in two ways: roulade and pan-seared chicken breast with creamy polenta, roasted eggplant puree, and basil oil for the main course.

The confection will be pistachio strudel with mascarpone mousse and lemon citrus sauce. Only 10 countries will reach the grand finale in Kolkata The

Benildean contender is mentored by faculty member Chef Dean Gabriel Ng Tio, who trained under a one Michelin-starred restaurant in Italy and has various industry experiences from Monde Nissin, Ferrero Philippines, Society’s Daily Bread Bakery & Bakeshop, and Legazpi Four Seasons Restaurant. Bernardo, a former Civil Engineering student who decided to pursue his passion in culinary arts, recently finished his practicum at the Australianinspired brunch place Maker and Made BGC before joining the cooking showdown.

He was chosen from a pool of Benildean students after a kitchen test, a mini competition which measured the applicants’ competency in technical cooking skills, and a panel interview.

In partnership with Pawchester and Huang Lion & Dragon Dance Group, GH Mall transforms into the ultimate arena for the nation’s most elite lion dance troupes. The competition will feature two thrilling divisions, each competing for a ₱50,000 grand prize: A showcase of exceptional young talents and rising stars

High-intensity, heart-stopping performances by seasoned masters

Experience gravity-defying stunts, booming drum rhythms, and a vibrant display of Filipino-Chinese cultural pride. Whether you’re a tradition enthusiast or just seeking world-class entertainment this Lunar New Year, this is the event to witness.

This award-winning spectacle goes live on February 8, 10 am, at the GH Mall South Wing Atrium. Bring your cameras, gather your friends, and immerse yourself in a performance that has captivated audiences nationwide.

Koreans take charge on windy Summit day

YUNSEO LEE and Jisun Kang shrugged off strong afternoon winds and slick putting surfaces to spearhead a fiery Korean charge at the start of the International Container Terminal Services Inc. Philippine Ladies Masters 2026 at the Summit Point Golf and Country Club in Lipa City on Wednesday. Both took advantage of early tee times on opposite nines, but it was Lee who delivered the day’s most impressive effort— she battled stiffer gusts on the back nine after an early start at No. 10 and the 18-yearold sophomore pro pieced a brilliant six-under-par 66 to seize the solo lead in the $200,000 event kicking off the Taiwan Ladies Professional Golf Association (TLPGA) Tour. Lee managed just one birdie at the back, but once she made the turn,

she caught fire and rolled in five birdies on the frontside highlighted by a four-birdie surge from No. 3 and capped by a commanding finish on the par-5 ninth.

“There was no wind early on, but it picked up and proved strong in the afternoon,” said Lee, who praised the near-perfect conditions despite the growing challenge. “I feel very good playing here. Summit Point is very good.”

Lee is seeking to keep the title in Korean hands following compatriot Kim Kayoung’s victory at The Country Club last year.

Kang, meanwhile, posted a solid 67 after starting on No. 1 in the day’s first group—she birdied Nos. 3, 6 and 9 to turn in three-under, showed composure as conditions toughened with birdies on

Senators hail Team Philippines

to public service with ease as the proud University of the Philippines alumnus went to work right away.

First order of the day for Gregorio was an across-the-board increase of P5,000 on the monthly allowances of national athletes and coaches.

He also made the novelty move of opening the doors of the track and field ovals at the Rizal Memorial Complex, Philsports, and the Teachers Camp in Baguio to the public in line with the PSC’s program for a healthy citizenry.

The Philippine Senate, led by Senate President Vicente “Tito” Sotto III and Sports and Youth Committee chairman Christopher “Bong” Go, honor on Wednesday afternoon athletes and the Philippine Sports Commission led by its chairman Patrick Gregorio through Senate Resolution No. 35 for Team Philippines’ strong performance at the Thailand 33rd Southeast Asian Games last

TALLULAH PROULX vies against the world’s best in the Winter Olympics. FACEBOOK PHOTO

Nos. 11 and 14 while narrowly missing chances to go even lower.

As the wind howled later in the day, another Korean, Jeonghyeon Kang, and Thailand’s Navaporn Soontreeyapas were also unruffled and with identical five-under cards forged a three-way tie for second in the 54-hole

Jeonghyeon Kang built momentum with three birdies against one bogey on her opening nine before closing with three more birdies coming home. Playing Summit Point for the first time—like much of the international field, she leaned on crisp iron play and controlled ball flights to counter the breeze.

A top hotelier par excellence in his younger days and sports executive under the MVP Group, Gregorio transitioned from the corporate world JOHN PATRICK “PATÒ” GREGORIO’S only six months in office but has accomplished much, much more at the sports agency. PSC PHOTO

Under Gregorio’s leadership, the country also hosted major international tournaments such as the FIVB Men’s Volleyball World Championship, the FIG Artistic Gymnastics Junior World Championships, and the FIFA Futsal Women’s World Cup, emphasizing that such global sports events can turn the Philippines into a top tourism destination.

With the belief that sports and tourism go hand in hand, the former PBA chairman and president of the Philippine Rowing Association was named head of the National Sports Tourism-Interagency Committee which was responsible for the staging of the first ever WTA 125 tournament in the country via the Philippine Women’s Open, where Eala served as the main attraction in her first major tournament in the country.

Cignal, Premier Volleyball League, Philippine Basketball Association, Akari, Rain or Shine, Capital1 Solar Energy and Acrocity.

Massive renovations at the Rizal Memorial Complex including the tennis center, baseball pitch, media conference room, the Philsports track oval, and training facilities in Baguio were also made under Gregorio’s watch.

By Josef Ramos

championship co-sanctioned by the Ladies Philippine Golf Tour, Taiwan LPGA, Korean LPGA and the Asia Golf Leaders Forum and offering a top purse of $30,000.

APHL Golf Championship on, Que leads local charge

STRONG field led by four of the past Order of Merit (OOM) winners in the last 10 years will vie in the Philippine Golf Championship presented by the Philippine Sports Commission (PSC) that kick off in the Asian Tour season starting Thursday at the East Course of the Wack Wack Golf and Coun-

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A total of 144 players are seeing action in the season-opening event of the Asian Tour that offers a total prize purse of $500,000 together with the National Golf Association of the Philippines (NGAP).

This marks the second straight year that the country will host the first leg of the Asian Tour. Former Philippine Open champion Angelo Que lead a 25-player local contingent.

“It’s good that the first Asian Tour event for two years in a row is here in the Philippines and it goes to show that the Philippines is coming back again in the Asian Tour,” Que said. Joining Que are Clyde Mondilla and Gerald Rosales. Antonio Lascuna, a five-time Philippine Golf Tour OOM winner, and 16 invited local players and six from the amateur ranks.  President Ferdinand “Bongbong” Marcos Jr. gave his imprimatur on the tournament under the National Sports Tourism Inter-Agency Committee headed by PSC chairman Patrick Gregorio.

Year in the Asian Tour, which he also won in 2018. Sihwan Kim, also of the US, won the OOM and the Player of the Year title in 2022, while Jazz Janewattananond of Thailand bagged the same hardware during the 2019 Asian Tour season. The event will also feature former Asian Tour winners Suteepat Prateeptienchai, Poosit Supupramai, Ekpharit Wu, Rattanonn Wannasrichan and Sadom Kaewkanjana of Thailand, Jbe Kruger of South Africa, Hongtaek Kim of Korea and Lee Chieh Po of Chinese Taipei.

the net defense of Bea de Leon and Pangs Panaga, steady backup setter Kyle Negrito and the energy of new libero Jen Nierva and the Cool Smashers appear primed to reassert their dominance.

“We’re excited, the Ogs of Creamline are back,” Meneses said. “And the Alas [players] are back.” Standing firmly in their path is a PLDT squad that is intimidating from all angles. Under coach Rald Ricafort, the High Speed Hitters boast a power lineup led by the explosive Savi Davison, ever-reliable Kim Dy and the battle-tested Mika Reyes, Majoy Baron, Kim Fajardo, Kath Arado, Alleiah Malaluan and Seth Rodriguez. Fresh from capturing the PVL On Tour and Invitational championships, PLDT is brimming with confidence despite settling for fourth