BusinessMirror February 09, 2026

FOREIGN

investors are increasing their exposure to Philippine government bonds, with participation more than doubling last year, as the government steps up efforts to deepen and modernize the domestic debt market.

Philippines is currently on watchpositive status.

ings climbed by 35.39 percent to P614.84 billion in the first half of 2025 from P454.12 billion at end2024. The Treasury said the gains have strengthened the country’s bid for inclusion in JPMorgan’s Government Bond Index–Emerging Markets (GBI-EM), where the

“Inclusion in the GBI-EM is expected to further expand the investor base, enhance market liquidity, attract long-term global investors, and support lower borrowing costs,” the Treasury said in a statement.

Record trading volume TREASURY data also showed that annual trading volume in the government securities secondary

By Andrea E. San Juan @andreasanjuan

THE country’s dollar reserves jumped to a 16-month high in January, giving the central bank enough “firepower” to manage the volatility of Philippine peso, according to an expert.

Preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed the country’s gross international reserves (GIR) rose to $112.515 billion at end-January 2026, the highest since September 2024.

The latest figure is 1.52 percent

higher than the $110.833 billion recorded in end-December 2025. Year-on-year, the GIR rose by 8.95 percent from the $103.271 billion in end-January 2025. Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co., said the jump in GIR mainly reflects stronger dollar inflows— from exports, business process outsourcing, and remittances alongside higher valuations of the BSP’s foreign investments and gold holdings, which helped push reserves to their highest in over a year.

“With GIR now comfortably above traditional adequacy met-

rics, it gives the BSP enough firepower to smooth volatility, reassure markets, and keep the peso from overshooting even when global conditions turn choppy,” Ravelas said in a Viber message. GIR is deemed adequate if it can finance at least three-months’ worth of the country’s imports of goods and payments of services and primary income.

The latest GIR level provides a robust external liquidity buffer, equivalent to 7.5 months’ worth of imports of goods and payments of services and primary income, BSP said.

The current GIR level also cov-

ers about 4.1 times the country’s short-term external debt based on residual maturity, the BSP added. GIRs are made up of foreigndenominated securities, foreign exchange and other assets, including gold. The central bank said these reserves serve as a buffer against external economic shocks, enabling a country to pay for its imports, service its foreign debt obligations, and stabilize its currency.

Components THE monthly increase in the GIR was largely due to the continued

By Ma. Stella F. Arnaldo

Special to the BusinessMirror

JUST 15 percent of Philippine properties listed on online travel agency Agoda’s website are possibly accredited with the Department of Tourism (DOT).

According to the DOT, there are some 12,500 accredited primary tourism enterprises or PTEs (e.g. hotels, resorts, inns) and about 1,600 secondary tourism enterprises (STEs) accredited with the agency as of January. STEs include restaurants, souvenir shops, spas, and

recreational centers, which voluntarily accredited themselves.

As per Agoda, there are 84,455 vacation rentals and hotels in the Philippines available for booking on their site. This developed as the DOT signed a preliminary memorandum of understanding (MOU) with Agoda aimed at boosting the marketing of Philippine destinations. Among the key goals of the agreement is to encourage more tourism establishments listed with Agoda to get accredited with the DOT.

By Bless Aubrey Ogerio

NEW and expanding investments in ecozones across the country will support the growth of the country’s exports, according to the Philippine Economic Zone Authority (PEZA).

Yet, even if exports reached a record high of $84 billion in 2025, imports also peaked at $137.22 billion in 2022.

“This growth is complemented by the contributions of other IPAs and local manufacturers that play a significant role in strengthening the country’s export performance,”

PEZA Director General Tereso Panga said.

Exports from PEZA-registered ecozones also rose by 10 percent, prompting the agency to project a 15-percent increase in investment approvals for 2026, targeting P300

billion in total investments.

Historically, exports from these ecozones account for around 50-60 percent of the country’s annual goods exports, with electronics comprising the largest share at 33 percent of total PEZA-approved investments.

Panga noted that further growth in foreign direct investment and exports could be supported by “bold economic reforms, strong macroeconomic fundamentals, fiscal incentives under the CREATE MORE regime, global supply chain diversification, shifting trade patterns, and new free trade agreements.”

At the same time, PEZA acknowledged both global and domestic challenges that could affect trade and investment growth.

Under the Philippine Export Development Plan 2025-2028, the government aims to diversify export markets, boost higher-value

manufacturing, expand digital services, including IT-BPM and strengthen agricultural exports such as coconut, tropical fruits, and processed foods. PEZA also highlighted recent trade agreements with countries like Korea and the United Arab

and

Jan USD reserves seen shielding PHL from… Continued from A1

month on month increase in gold holdings by 11.25 percent to a new record high of $20.667 billion from $18.578 billion, as world gold prices also went up. Foreign exchange holdings also went up by 83 percent to $1.208 bil lion from the $659 million in Decem ber 2025.

However, these were slightly pulled down by the decline in for eign investments by 1.1 percent to $85.966 billion from the $86.926 billion in December 2025.

According to Rizal Commercial Banking Corp. chief economist Mi chael L. Ricafort, the decline in foreign investments could be attributed to the increased US/global market volatility in view of geopolitical risks in January 2026 such as on Iran, Greenland, Ven ezuela, among others that “led to some shift to safe havens such as gold amid global uncertainties.”

Philippine Institute for Develop ment Studies Senior Research Fellow John Paolo R. Rivera said that while the current GIR level offers “ample” import and debt servicing cover, “its real significance lies in boosting in vestor confidence and giving the BSP more flexibility to manage currency pressures and maintain financial stability in the months ahead.”

‘PHL struggles to attract FDI on manufacturing weakness’

By Malou Talosig-Bartolome

THEPhilippines’s dependence on its English-speaking workforce and remittance-driven economy— compounded by corruption scandals and the Marcos-Duterte rivalry—is proving costly, driving foreign investors away.

Marcus Tantau, senior securi ties analyst at Templeton Research, said the country neglected to build a strong manufacturing base, missing the global “reshoring” wave that is powering Asean neighbors and leav ing Manila increasingly sidelined in the competition for foreign direct in vestments (FDI).

Templeton Research is a boutique firm known across Asia Pacific for business intelligence and invest ment risk analysis, advising banks, law firms, private equity groups, and finance institutions. Tantau, an Australian researcher and corporate investigations practitioner, leads its Southeast Asia practice. FDI is vital for the Philippines be cause it funds infrastructure, ex

pands manufacturing, and creates higher‑value jobs that domestic sav ings alone cannot support. It also brings technology transfer and global market access—critical for moving beyond reliance on business process outsourcing and remittances. With out stronger inflows, the country risks falling further behind its neigh bors in industrial diversification and long‑term growth. Net inflows fell to $6.18 billion through October 2025, down 24.5 percent from the previous year, un derscoring how structural weaknesses are translating into lost opportunities (See related story: https://businessmirror.com.ph/2026/01/14/ wait-and-see-stance-fdi-inflowsdip-to-642m/).

Asean still a magnet for global capital WHILE the Philippines falters, Southeast Asia remains the world’s top FDI destination. The region attracted $226 bil lion in 2025, buoyed by capital flight from China and renewed investor interest in manufactur ing, semiconductors, and data centers.

Global management consulting firm McKinsey & Company noted in its third quarter economic out look that exports of electrical and electronics (E&E) products in Southeast Asia propped up re gional trade, with Vietnam, Ma laysia, and even the Philippines benefiting from global demand. Tantau warned that Asean’s ability to sustain this momen tum depends on acting as a bloc. “If you’re not at the table, you’re on the menu,” he said, quoting Canadian Prime Minister Mark Carney.

Pulling ahead

* Vietnam: GDP surged 8.2 per cent in the third quarter of 2025, the region’s highest. FDI dis bursements reached their stron gest level in five years, mostly into manufacturing, reinforcing Vietnam’s “plug‑and‑play” repu tation.

* Malaysia: Growth accelerated to 5.2 percent in the third quar ter of 2025, supported by house hold demand and a rebound in exports. FDI inflows rebounded sharply to RM 8.5B (≈ $2.04 bil lion), dominated by data centers and semiconductors.

* Indonesia: Maintained steady growth at 5 percent, though FDI contracted 8.9 percent year on year (YOY) in the third quarter— the largest fall since 2020. Manu facturing and base metals still attracted investment, but policy unpredictability weighed on sen timent.

* Singapore: Revised its 2025 growth forecast upward after re cording 4.2 percent in the third quarter, with stable investment inflows underscoring its resil ience as a financial hub.

* Thailand: Slowed to 1.2 per cent growth, its weakest since 2021, though exports of E&E products remained a bright spot.

Political headwinds in Manila INVESTOR sentiment in the Phil ippines has been further damp ened by corruption scandals and the public rift between the Mar cos and Duterte families.

“When you add in the corrup tion element…and the political instability… it contributes to the lack of interest when there are other more attractive markets that are easier to navigate in the region right now,” Tantau ob served.

He added that the Philippines had “rested on its laurels” by lean ing too heavily on its English speaking workforce and overseas remittances, rather than building a strong domestic manufacturing base. This service‑oriented focus, he warned, has left the country unable to move up the value chain or capture the manufacturing “re shoring” wave benefiting other Asean nations.

Tantau also pointed to the cli mate of uncertainty created by high‑profile scandals: “If you look at the news in the Philippines at the moment, there’s some big po litical corruption scandals going on, and I think this is somewhat deterring investors.”

Finally, he noted that political infighting compounds the prob lem: “You have the Marcos fam ily and the Duterte family now sort of going at each other pretty hard…it’s another factor which contributes to the lack of inter est when there are other more at tractive markets that are easier to navigate in the region right now.”

Foreign inflows into PHL bonds rise in 2025

market reached a record P12.68 trillion by the end of 2025.

Since 2015, annual trading vol ume has surged nearly fourfold.

After falling to a low point during the pandemic in 2022 at P2.98 trillion, trading activity recov ered and reached P12.68 trillion by end 2025.

The Treasury said this was on the back of its benchmark building and ISIN consolidation strategy, which ensures consis tent supply across key tenors to promote yield curve formation, strengthen price discovery and improve market transparency.

Turnover ratios for benchmark securities increased in 2025, with the 5 year, 7 year, and 10 year benchmarks posting ratios at 2.5, 1.6, and 3.1, respectively, up from 0.3, 0.7, and 1.6 in 2023.

For the government securi ties market, the turnover ratio reached 1.05 in 2025, supported by higher daily trading averages and the Treasury’s close engage ment with Government Securi ties Eligible Dealers.

Following the Bangko Sen tral ng Pilipinas’ easing cycle in August 2024, trading activity became concentrated in longer dated securities.

Trading has since shifted to ward a more balanced distribu tion across the short, medium and long sections of the curve, the Treasury noted.

“The strength we are seeing in

the secondary market is the clear est validation of our long term strategy to deepen the govern ment securities market,” Nation al Treasurer Sharon P. Almanza said.

“By building reliable bench marks, modernizing market in frastructure, and working closely with our primary dealers, we are creating a market that is more liquid, transparent, and resilient, while ensuring that government financing remains efficient and that the capital market continues to support sustainable economic growth,” Almanza added.

Retail Treasury Bonds have likewise become more actively traded, with their aggregate turn over ratio reaching 2.4 in 2025.

The Treasury said this signals that trading activity for retail offerings is now outpacing the growth of outstanding retail debt.

The government’s outstanding debt reached a new record high of P17.707 trillion as of end 2025, up 10.32 percent from P16.051 trillion in end 2024.

This pushed the debt to GDP ratio to 63.2 percent at the end of 2025—the highest level in 20 years. Most of the government’s debt was sourced domestically, ac counting for 68.4 percent of the total debt portfolio, while the re maining 31.6 percent came from foreign creditors.

In a Viber message to the Busi nessMirror, DOT Undersecretary for Tourism Standards, Regulations, and Human Capital Development Ma. Rica C. Bueno, said under the partnership being finalized with the digital platform, “It will highlight DOT accredited establishments.” The mechanics on how this will be carried out, whether by a separate tab or a special sorting feature on the Agoda site, are still currently be ing hammered.

The MOU was signed between both parties on the sidelines of re cent Association of Southeast Asian Nations (Asean) Tourism Forum in Cebu City. The agreement outlines potential areas cooperation between both parties, leveraging on Agoda’s wide reaching digital features. It specifically sets out areas of co operation that will “incentivize ac creditation” of establishments with DOT, serving as a continuation of both parties’ efforts to promote the Department’s Tourism Quality Seal during the pandemic, said the agen cy on its Facebook account. Further, the preliminary agree ment also enumerated potential partnerships in mounting capaci ty building initiatives, supporting sustainable tourism practices, and launching coordinated marketing initiatives to attract more tourists coming to the Philippines.

“We are great admirers of the work that you have done in Agoda, the innovations that you continue to infuse,” said Tourism Secretary Christina Garcia Frasco at her meet ing with the Agoda team. “There are many opportunities for alignment, especially that now we are pushing for very specific tourism products,” she added.

Challenges faced by hotel owners THE DOT has been encouraging the traveling public to only book their stays at establishments ac credited with the agency to ensure their safety, as it continues to receive complaints of scams, unfair, or poor quality services from some accom modation establishments.

A regulation from the Depart ment of Interior and Local Gov ernment also instructs local gov ernment units (LGUs) to issue business permits to PTEs, only if they can show proof of their DOT accreditation, yet not all LGUs ac tually follow this.

A few owners of DOT accredited resorts have shared that DOT’s own website also hampers the accredi tation process, citing the frequent downtime in the agency’s online sys tem. For others, they also complain that despite applying online, they are still required to head to DOT re gional offices to submit documents in person.

The DOT has also signed part nerships with other companies such as Klook and Mastercard to help enhance its marketing of the Philippines. With Klook, for instance, destinations featured under DOT’s Philippine Experi ence Program are available for booking via tours offered by local opertors. With Mastercard, the DOT will co create promotions highlighting Philippine destinations and curate special travel offers for cardholders. The card company will also share vital data on consumer preferences and trends with the DOT.

The DOT aims to attract 6.7 in bound tourists to the Philippines, armed with a P1 billion brand ing budget, and the relaxation of visa requirements for China. Last year, only 5.9 million for eign nationals visited the Philip pines, according to the Bureau of Immigration’s e travel app (See, “Tourist arrivals barely hit 6M, still below pre-pandemic peak,” in the BusinessMirror, Jan. 20, 2026).

www.businessmirror.com.ph

VP Duterte verdict up to Senate–congressmen

By Jovee Marie N. dela Cruz @joveemarie

AS the House of Representa -

tives begins action on two impeachment complaints against Vice President Sara Z. Duterte, members of the House of Representatives said their role is limited to determining whether the complaints are sufficient in form and substance, leaving questions of guilt or innocence to the Senate if the case proceeds to trial.

The House Committee on Public Accounts chairman, Party-list Rep. Terry L. Ridon of Bicol Saro, said the testimony of former Duterte aide Ramil Madriaga could reveal the true identities behind names like “Mary Grace Piattos,” allegedly linked to over P612 million in confidential funds from the Office of the Vice President (OVP) and Department of Education (DepEd). Madriaga has filed an affidavit detailing cash deliveries and has expressed willingness to testify before Congress, the Senate, or the Office of the Ombudsman.

Ridon noted that if Madriaga can clarify how these names appeared in OVP and DepEd liquidation reports, it would address lingering doubts, especially as many listed beneficiaries lack matching Philippine Statistics Authority records.

The controversy first drew attention from the late former police general and lawmaker Romeo Acop. Previous reports by House Deputy Speaker Paolo Ortega V also listed several questionable beneficiaries, including “Kokoy Villamin,” the Piatos family, and others linked to the so-called “Budol Gang.”

“Public funds come with public accountability. If these names are bogus, then someone must answer for how they were created, approved, and liquidated,” Ridon said.

The impeachment complaints cite allegations from Madriaga, including misuse of confidential funds, delivery of large sums to individuals under Duterte’s instructions, and receipt of campaign funds in 2022 from drug lords and Philippine Offshorte Gaming Operations (Pogo) outfits.

House Secretary General Cheloy E. Velicaria-Garafil confirmed the complaints were formally transmitted to Speaker Faustino Dy III. Ridon said the House may either refer the complaints to the Committee on Justice for review or, if endorsed by one-third of members, transmit them directly to the Senate.

See “Impeachment,” A12

Lacson-Tulfo word war with Marcoleta over China worsens

By Butch Fernandez @butchfBM

THE

Philippines is not at war with China over the West Philippine Sea—at least not yet.

But the word war among Filipino sentors over raging maritime issues worsened over the weekend, with two leading senators decrying what they described as homegrown threats to the country from fellow lawmakers spouting apparently pro-Chinese positions while attacking their peers.

The pushback was led by the chairmen of two committees, Blue Ribbon’s Panfilo Lacson and Foreign Relations panel chief Erwin Tulfo.

Tulfo, who last week said after a briefing with top Department of Foreign Affairs (DFA) officials that he will encourage the toning down of rhetoric among lawmakers in order to de-escalate the situation and allow DFA to continue to do its job, on Sunday pushed for the fast-tracking of Senate Bill 1625, or the “West Philippine Sea [WPS] Education

Act.” This seeks to institutionalize a specialized curriculum in both basic and higher education focused on the country’s maritime territories.

“Despite being a critical point of Philippine sovereignty, many Filipinos are seemingly in the dark about the West Philippine Sea. We must integrate this into our education system,” Tulfo said.

This, as Lacson also the Senate President Pro Tempore, on Sunday called out the use of “ad hominem” or personal attacks against officials and lawmakers who uphold a pro-Philippine stance on the territorial dispute with China in the West Philippine Sea.

Lacson fired back at Party-list Rep. Paolo Henry Marcoleta of Sagip, who suggested that a “Coast Guard spokesperson” and some “senators” be at the frontline or be used as cannon fodder if China

declares war on the Philippines, after his father, Sen. Rodante Marcoleta, drew flak for suggesting that we give up the Kalayaan Islands.

The elder Marcoleta and Lacson had tangled in the past over Blue Ribbon’s probe of the infrastructure corruption mess, but in the past two weeks, he also tangled with several other senators over WPS issues.

On Sunday, Lacson also said in his post on X that the younger Marcoleta should stick to the issue and visit Pag-Asa Island in the KIG, which is part of Palawan province, so he can get a firsthand look at the functioning Philippine local government there.

“The son also rises with his own ad hominem. Suggesting to use the PCG spokesman and some senators as cannon fodder if China declares war against the Philippines is uncalled for. He should visit Pag-Asa Island in KIG and see for himself the functioning local government there,” Lacson said.

Lacson had visited the island in November 2021—after which he pushed for a budget to improve the Philippines’ defense posture, as well as, additional school facilities and teachers for the island.

He proposed amendments to

the 2022 budget to fund facilities in the Kalayaan Island Group, which amounted to P254.241 million, including:

n P5.393 million for the procurement of power system requirements; n P15.351 million for the procurement of rubber boats with outboard motors; n P233.497 million for the procurement of communication and other mission-essential equipment for KIG detachments. n additional P38.509 million for the Pagasa Island Research Station (PIRS), whose support and development would be key to understanding and sustainably utilize marine resources in the West Philippine Sea. This includes P10 million for a two-storey dormitory building-marine facility and P28.509 million to purchase marine scientific and oceanographic equipment. Also, Lacson sought: additional school facilities and teachers in Pagasa Island and more benefits for teachers; the putting up

Arthaland forges partnership with Mitsui Fudosan (Asia) for a premium green development in Makati

ARTHALAND Corporation and Mitsui Fudosan (Asia) recently entered into a joint venture for the development of Sondris, a premium, multi-certified sustainable residential condominium that will rise along Arnaiz Avenue, Legazpi Village, Makati City.

This partnership marks a significant collaboration between ARTHALAND and Mitsui Fudosan (Asia), a wholly owned subsidiary of Mitsui Fudosan Co., Ltd., one of Japan's largest real estate companies and a publicly traded company with approximately $62 billion (¥9.8 trillion, as of Dec. 2024) in assets. Mitsui Fudosan has pursued mixed-use neighborhood creation that integrates office buildings, retail facilities, logistics, hotels/resorts, and residentials across various areas in Japan. Mitsui Fudosan’s area of operations is not only in Japan; the Group has been conducting business in major cities in North America, Europe, China, Taiwan, Southeast Asia, Australia, and India. The Group is continuously pursuing business expansion through driving the evolution of neighborhood creation.

“We are honored to collaborate with Mitsui Fudosan to bring Sondris to life. By combining ARTHALAND’s deep

local experience with a global perspective and Mitsui Fudosan’s distinct strength in truly peoplefocused neighborhood creation and global expertise, we created a development that delivers durability, functionality, and a new benchmark for refined living in the heart of Makati,” said Jaime C. González, Vice Chairman and President of ARTHALAND. Sondris brings together two like-minded, best-in-class real estate companies with shared values centered on sustainability, green building, and long-term value creation. ARTHALAND leads the project’s development and operations, while Mitsui Fudosan

contributes to global expertise in design, engineering, and value preservation.

“We express our appreciation and honor in collaborating and developing this project together with ARTHALAND, a partnership that reflects our shared vision for excellence and sustainability. Guided by this commitment, we take pride in making Sondris one of the pioneering residential developments in the Philippines to pursue multiple prestigious green certifications—underscoring our unwavering commitment to sustainability and futureready communities. Together, we aspire to deliver a landmark

project that harmonizes worldclass standards with local insight, creating a destination designed to endure and inspire for generations to come.” said Daijiro Eguchi, Managing Director of Mitsui Fudosan (Asia). Sondris offers a rare balance of cultural richness, business connectivity, and urban convenience. Its address along Arnaiz Avenue provides immediate access to EDSA and the Skyway, connecting residents to the metro’s key business and lifestyle destinations. Its location also allows its residents to enjoy unobstructed views of the San Lorenzo Village. Inspired by Japanese

sensibilities, Sondris brings together refined architecture, wellness, and environmental stewardship to create homes shaped by intention and balance. Designed by the internationally renowned architectural firm AEDAS, the 37-story tower features 252 thoughtfully designed residences, each crafted to maximize

DENR adopts ‘Roadmap to Readiness’ for voluntary forest carbon market

By Jonathan L. Mayuga @jonlmayuga

ENVIRONMENT Secretary

Raphael P.M. Lotilla has signed an Administrative Order officially adopting the Philippines’ Roadmap to Readiness in the Voluntary Forest Carbon Market (2026–2030).

The United Nations Development Program (UNDP) defines voluntary forest carbon markets as “decentralized, non-mandatory marketplaces where private entities, companies, and individuals buy carbon credits generated by projects that reduce or remove greenhouse gas emissions through forestry activities. These projects, often involving reforestation or Reducing Emissions from Deforestation and Degradation [REDD], allow voluntary actors to meet self-imposed climate goals, such as carbon neutrality, indepen -

PHL F-50 jets, US B-52s patrol WPS, Luzon Strait

efforts to boost interoperability between the two services. PHOTO COURTESY OF PAF

ILIPINO and American air -

Fcraft conducted a series of exercises on the first week of the month in various locations in Luzon as part of ongoing efforts to boost interoperability between the two services, the Philippine Air Force (PAF) said.

“The bilateral engagement featured a series of coordinated air activities aimed at strengthening cooperation and interoperability between Philippine and US forces,” the PAF spokesperson, Col. Ma. Christina Basco, said in a statement.

Units of the PAF and the US Pacific Air Forces (Pacaf) “conducted a bilateral bomber air patrol and live drop exercise” from several locations, including the Col. Ernesto Rabina Air Base in Tarlac City, and over the West Philippine Sea (WPS) via the Luzon Strait. Support was also provided by the US Special Operations Command Pacific and Marine Corps Forces, Pacific.

First among the air drills on February 2 was a live drop exercise

involving two PAF FA-50PH fighter aircraft and two US Pacaf B-52 bombers.

Basco added that the exercise continued with an air defense scenario on Feb. 4, over the WPS, focusing on airspace coordination, command-and-control integration, and joint operational response.

On Feb. 6, the activity culminated in a joint bomber air patrol over the WPS and the Luzon Strait.

Basco said this highlighted combined mission planning, airspace coordination, and operational readiness among the PAF, Pacaf, and supporting US forces.

She said these activities enhanced bilateral interoperability, operational readiness, and strategic cooperation through joint planning, coordination, and execution in a realistic training environment.

“Through these combined air activities and multi-domain support, the PAF continued to strengthen defense partnerships and reinforce its capability to safeguard national airspace and uphold sovereignty,” Basco added. Rex Anthony Naval

dent of government regulatory requirements.”

The Roadmap provides a national strategic framework to transform the Philippines into a high-integrity investment destination for forest carbon.

It aims to unlock the economic value of the country’s carbon sinks while ensuring that forest protection and restoration initiatives support the nation’s climate goals under its Nationally Determined Contributions (NDCs) and promote sustainable livelihoods for local communities.

To ensure a robust and credible voluntary forest carbon market, the order mandates the implementation of four priority areas for 2026-2030:

1. Policy Framework for VFCM Engagement. Harmonizes policies

governing forest assets and mandates clear guidelines on carbon rights and trading.

2. Data Analytics and Digital Infrastructure. Ensures environmental integrity and prevents double-counting through a National Forest Monitoring System and a Forest Carbon Credit Database.

3. Institutional Mechanisms. Resolves jurisdictional overlaps by designating the Forest Management Bureau as lead for terrestrial forests and the Biodiversity Management Bureau for blue carbon ecosystems, such as mangroves and seagrass beds.

4. Sustainable Financing and Market Development. Promotes financial sustainability and social equity, including fair benefitsharing with local communities and Indigenous Peoples.

The DAO emphasizes high-integrity standards and mandates that the DENR Climate Change Service oversee alignment with national climate strategies. In consultation with the Department of Finance, the Department will explore sustainable financing mechanisms, including a potential Trust Fund to reinvest carbon revenues directly into forest management and protection.

Developed with technical support from the UNDP, the roadmap was crafted through extensive multi-stakeholder consultations involving national government agencies, local government units, the private sector, and civil society organizations, with UNDP providing technical assistance.

The DAO shall take effect fifteen (15) days after its publication.

LTFRB orders 29 bus terminal operators to explain unsafe units, dirty toilets

By Lorenz S. Marasigan @lorenzmarasigan

THE Land Transportation Franchising and Regulatory Board (LTFRB) has issued show cause orders or notices to comply against 29 bus and public utility vehicle terminal operators found violating passenger safety and comfort regulations.

LTFRB Chairman Vigor D. Mendoza II said on Sunday the enforcement action forms part of ongoing nationwide inspections of transportation facilities aimed at protecting commuter welfare.

“The regular inspection of bus and PUV terminals will now be a new normal. This is the only way at this point to instill in the minds of the operators that they must comply with the regulations at all

times,” he said.

The latest batch of violators brings to 87 the total number of non-compliant terminals identified from 155 facilities inspected nationwide since LTFRB regional directors began deploying personnel for random and surprise inspections last week.

Region 10 recorded the highest number of violators with 20 terminals, followed by Metro Manila with 13 and Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon) with 12.

“And this is also the way to send a message to passengers that they have the right to safe and comfortable transportation terminals, and that the LTFRB is always on their side on this aspect,” Mendoza said.

Inspectors specifically checked

for comfortable waiting areas with weather protection, clean toilets, accessibility features for senior citizens and persons with disabilities, fire extinguishers, CCTV systems, and adequate entry and exit points.

Mendoza said LTFRB regional directors have been instructed to submit compliance reports and maintain enforcement efforts until all terminal operators meet safety standards.

“We will not hesitate to shut down the operation of any bus terminal whose operators remain defiant. We did it before, we can do it always if they will not comply,” he added.

Last week, the board issued a cease and desist order against a bus terminal in Iloilo for gross violations of safety regulations.

Frank Drilon details decades in public service in new memoir

ORMER Senate President

FFranklin M. Drilon gets frank in Being Frank: A Memoir, a firsthand look at the crises and decisions that shaped his 36 years in public service. The book launch will be held at the Manila Polo Club at 4:00 p.m. on February 9, 2026.

In Being Frank, Drilon traces his first foray into public service in 1986, when the country was still reeling from the aftermath of martial law and struggling to rebuild its democratic institutions. He writes of entering government at a time marked by uncertainty and disorder, marked by labor unrest, repeated coup attempts, and a wave of highprofile killings in the 1990s.

As Labor secretary, Drilon writes about navigating waves of labor strikes and unrest. As Justice secretary during the high-profile killings of the 1990s, he recalls that the burden of delivering justice fell squarely on him, amid intense public scrutiny and pressure on the country’s justice system.

TDrilon also recounts his role as executive secretary during the 1992 transition of power, describing the challenges of ensuring a peaceful and orderly transfer of leadership in the first years after the restoration of democracy.

A substantial portion of the book is devoted to impeachment, an issue once again in the public spotlight following the filing of impeachment cases against the country’s top officials. Drilon served twice as senator-judge, during the impeachment trials of former President Joseph Estrada and former Chief Justice Renato Corona. He documents the legal strategies, key rulings, and procedural battles that defined those trials.

Drilon also revisits corruption scandals that he says should never be repeated, examining how loopholes in the system were exploited and public funds abused. He cited cases such as the Fertilizer Fund scam, the North Rail controversy, the pork barrel scam, and the COVID-19 procurement scandal

involving Pharmally, offering lessons on how weak oversight and compromised institutions allow corruption to take root.

The book also discusses the former senator’s political alliances and eventual break with former Presidents Gloria Arroyo and Joseph Estrada, explaining the issues and decisions that led to those falling out.

The memoir also reflects on Drilon’s legislative record, including landmark measures he authored such as the Dual Citizenship Act, the Sin Tax Reform Law, the GOCC Governance Act, and laws liberalizing public services and retail trade.

Drilon said he dedicates the book to the youth, urging them to understand the value of strong institutions, the rule of law, and the cost of forgetting history.

The memoir features a foreword by former chief justice Artemio Panganiban and an afterword by Education Secretary Sonny Angara.

of a high school building or integrating the high school facilities with the existing elementary school building; and hiring of at least one multigrade teacher who can teach high school. He also sought the DepEd’s commitment for a Special Hardship Allowance (SHA) for the two teachers in Pag-asa Island, noting this can be taken from the budget for the Last Mile Schools program.

The Department of Education approved the Pagasa Island Integrated Elementary and High School effective School Year 20222023.

He also recalled that when he visited the island in 2021, Chinese Coast Guard ships were visible to the naked eye, while the local Marines said Chinese vessels would enter the exclusive economic zone but would leave when challenged.

On February 6, the younger Marcoleta had posted on his Facebook account that if China declares war on the Philippines, the Coast Guard spokesman for the West Philippine Sea, Commo. Jay Tarriela, and some senators should be made the frontliners or cannon fodder.

Rep.Marcoleta claimed those advocating a pro-Philippine stance are the traitors who have put Filipinos at risk, adding that one cannot fight for the WPS through posturing and “pahashtag hashtag lang.” Only last Wednesday, Lacson shut down the suggestion of Marcoleta’s father, that the Philippines give up the KIG, by citing a longstanding legal principle supporting the Philippines’ ownership of the KIG.

Education on WPS FOR Erwin Tulfo, education on maritime issues is urgent and crucial, saying: “We have to act now. I urge my colleagues to conduct a hearing on this as soon as possible. Time is of the essence in ensuring that Filipinos are wellinformed on the situation in the WPS,” Tulfo.

In his bill, age-appropriate learning materials will be integrated into the syllabi in basic and higher education. These materials will include, among others, internationally recognized facts, Supreme Court decisions and relevant laws on the WPS. Developing the materials and training will be a collaboration of the Department of Education (DepEd), Commission on Higher Education (CHED), National Mapping and Resource Information Authority (Namria), National Security Council (NSC), Department of Foreign Affairs (DFA), and other relevant government agencies.

Once enacted, DepEd will be mandated to carry out the training for teachers and educators assigned to teach the WPS curriculum. The veteran journalistturned-lawmaker noted that embedding the country’s stance into the education system will be bolstered by rigorous awareness campaigns.

“We can only fight for our rights if we know what those rights are. If we delay this, we remain susceptible to disinformation and propaganda that could reshape the mindset of the next generation regarding the West Philippine Sea,” Tulfo concluded.

Three deaths were reported in the Caraga and all of these are undergoing validation as of late Sunday.

HE number of families affected by Tropical Storm “Basyang” have climbed to 131,961, the National Disaster Risk Reduction and Management Council (NDRRMC) said on Sunday. The agency said 131,961 families is equivalent to 467,242 persons residing in 850 barangays in Caraga, Regions 6, 7, 8 and 11 and Negros Island Region. As of Sunday afternoon, 5,818 families are being sheltered in 337 evacuation centers while another 7, 167 are being aided outside.

Houses damaged were placed at 445, with 407 partially damaged, and 38 totally damaged. There are still no figures for damage to infrastructure and agriculture as of Sunday, the NDRMMC said. Rex Anthony Naval

The

Editor: Angel R. Calso

Pakistan arrests 4 suspects in mosque bombing that killed 31 in the capital

By Munir Ahmed & Muhammad Yousaf The Associated Press

ISLAMABAD—Pakistani security forces raided multiple locations and arrested four suspects, including the alleged mastermind, behind a suicide bombing at a Shiite mosque on the outskirts of the capital that killed 31 people, the interior minister said Saturday.

The announcement by Mohsin Naqvi came a day after a regional affiliate of the Islamic State group, identifying itself as Islamic State in Pakistan, claimed responsibility in a statement carried by its Amaq News Agency. The statement said the attacker on Friday opened fire on security guards who tried to stop him at the main gate before detonating his explosive vest after reaching the mosque’s inner gate.

The IS group suggested it viewed the Pakistani Shiites as legitimate targets, calling them a “human reservoir” that provided recruits to Shiite militias fighting IS in Syria.

Friday’s mosque bombing that also wounded 169 people was the deadliest in Islamabad since a 2008 suicide bombing at the Marriott Hotel that killed 63 people and wounded more than 250. In November, a suicide bomber struck outside a court in the capital, killing 12 people.

Pakistan arrests suspects linked to attack

NAQVI described the suspected mastermind of the bombing as an Afghan linked to IS. He alleged the attack was planned and the bomber trained in Afghanistan with financial backing from India—claims for which he provided no immediate evidence. There was no immediate comment from New Delhi and Kabul.

Naqvi also alleged that several militant groups were operating from the Afghan territory to launch attacks against Pakistan and urged the international community to take notice, warning that instability could spread beyond the region.

Addressing public concerns about

security lapses, he said, “If one blast happens, 99 others are being foiled as well.”

Funerals for the victims

EARLIER , more than 2,000 griefstricken mourners gathered as coffins of those killed were brought to the same mosque for funerals of about a dozen victims, joined by Shiite community leaders and senior government officials. Funerals of other victims were to be held in their hometowns.

IS is a Sunni group that has targeted Pakistan’s Shiite minority in the past, apparently seeking to stoke sectarian divisions in the majority Sunni country. In 2022, it claimed responsibility for a suicide bombing that struck a Shiite Muslim mosque in Pakistan’s northwestern city of Peshawar, killing at least 56 and wounding 194.

Pakistan’s Defense Minister Khawaja Mohammad Asif told reporters Friday that the attack signaled that Pakistan-based militants operating from Afghanistan could strike even in the capital. His remarks drew a sharp response from Afghanistan’s Taliban government.

In a statement, Afghanistan’s Defense Ministry condemned the mosque attack in Islamabad but said the Pakistani defense minister had “irresponsibly” linked it to Afghanistan. Pakistan has frequently

accused Afghanistan, where the Taliban returned to power in August 2021, of harboring militants, including members of the Pakistani Taliban. Kabul denies the accusations.

Attack draws international condemnation THE attack drew condemnation from the wider international community, including the United States, Russia and the European Union. Prime Minister Shehbaz Sharif said he was grateful for the messages of sympathy and support received “from across the globe” following what he called the “heart-wrenching suicide attack in Islamabad.” He said international support remained critical to Pakistan’s counterterrorism efforts and vowed the perpetrators would be brought to justice.

Although Pakistan’s capital has seen relatively few attacks compared with other regions, the country has experienced a recent rise in militant violence. Much of it has been blamed on Balochseparatists and the Pakistani Taliban, known as Tehrik-eTaliban Pakistan, or TTP, which is a separate group but allied with Afghanistan’s Taliban.

Associated Press writers Samy Magdy in Cairo, Riaz Khan and Rasool Dawar in Peshawar, Pakistan, and Ishtiaq Mahsud in Dera Ismail Khan, Pakistan, contributed to this report.

US gave Ukraine and Russia June deadline to reach a deal to end war, Zelenskyy says

By Samya Kullab The Associated Press

KYIV, Ukraine—The US has given Ukraine and Russia a June deadline to reach a deal to end the nearly four - year war, President Volodymyr Zelenskyy told reporters, as Russian strikes on energy infrastructure forced nuclear power plants to cut output on Saturday.

If the June deadline is not met, the Trump administration will likely put pressure on both sides to meet it, he added.

“The Americans are proposing the parties end the war by the beginning of this summer and will probably put pressure on the parties precisely according to this schedule,” Zelenskyy said, speaking to reporters on Friday. Zelenskyy’s comments were embargoed until Saturday morning.

“And they say that they want to do everything by June. And they will do everything to end the war. And they want a clear schedule of all events,” he said.

He said the US proposed holding the next round of trilateral talks next week in their country for the first time, likely in Miami, Zelenskyy said. “We confirmed our participation,” he added.

Zelenskyy said Russia presented the US with a $12 trillion economic proposal — which he dubbed the “Dmitriev package” after Russian envoy Kirill Dmitriev. Bilateral eco -

nomic deals with the US form part of the broader negotiating process.

Russian strikes on Ukrainian energy infrastructure continued with over 400 drones and about 40 missiles launched overnight Saturday, Zelenskyy said in a post on X. Targets included the energy grid, generation facilities and distribution networks.

Ukrenergo, the state energy transmission operator, said the attack was the second mass strike on energy infrastructure since the start of the year, forcing nuclear power plants to reduce output. Eight facilities in eight regions came under attack, it said in a statement.

“As a result of missile strikes on key high-voltage substations that ensured the output of nuclear power units, all nuclear power plants in the territories under control were forced to reduce their load,” the statement said.

It said the power deficit in the country has increased “significantly” as a result of the attacks forcing an extension of hourly power outages in all regions of Ukraine.

The latest deadline follows USbrokered trilateral talks in Abu Dhabi that produced no breakthrough as the warring parties cling to mutually exclusive demands. Russia is pressing Ukraine to withdraw from the Donbas, where fighting remains intense — a condition Kyiv says it will never accept.

Zelenskyy said no common ground was reached on managing the Russian - held Zaporizhzhia nuclear plant and expressed skepticism about a US proposal to turn the Donbas region, coveted by Russia, into a free economic zone as a compromise.

“I do not know whether this can be implemented, because when we talked about a free economic zone, we had different views on it,” he said. He said in the last round of talks the negotiators discussed how a ceasefire would be technically monitored. He added that the US has reaffirmed it would play a role in that process. Repeated Russian aerial assaults have in recent months focused on Ukraine’s power grid, causing blackouts and disrupting the heating and water supply for families during a bitterly cold winter, putting more pressure on Kyiv. Zelenskyy said the US again proposed a ceasefire banning strikes on energy infrastructure. Ukraine is ready to observe such a pause if Russia commits; but he added that when Moscow previously agreed to a one-week pause suggested by the US, it was violated after just four days.

“Difficult issues remained difficult. Ukraine once again confirmed its positions on the Donbas issue. ‘We stand where we stand’ is the fairest and most reliable model for a ceasefire today, in our opinion,” Zelenskyy said. He reiterated that the most challenging topics would be reserved for a trilateral meeting between leaders.

Japanese voters ready to deliver verdict on Takaichi’s leadership

By Sakura Murakami

JAPANESE voters head to the polls Sunday to deliver a verdict on Prime Minister Sanae Takaichi’s government as she seeks to shore up her grip on power and gain a clear mandate for spending and investment plans that have unsettled some investors.

Takaichi has staked her job on the outcome of the election, saying she will step down if her ruling coalition fails to win a majority in the more powerful lower house. She currently holds a razor-thin majority of 233 out of the 465 seats in the chamber.  Surveys have indicated that Takaichi is on track to win big. Some have forecast that the ruling Liberal Democratic Party could win a standalone majority, with the Nikkei newspaper saying that the LDP with its junior coalition partner, the Japan Innovation Party, could win over 300 seats. The Mainichi newspaper said that the LDP alone could win 300 seats, meaning the ruling coalition could secure two-thirds of the lower house.

The main opposition Centrist Reform Alliance and a host of smaller opposition parties that have seen a surge in support in recent elections

could still complicate the picture for Takaichi. Losing the LDP’s longtime coalition partner Komeito could also have more of an impact than currently expected, given that the party’s backing from religious group Soka Gakkai delivered solid votes for the LDP in the past. Still, the CRA appears to be struggling to appeal to voters, according to the polls. Some surveys have suggested that the party may end up losing half its seats.  Snow in the north could also lower turnout and dent some of the support for Takaichi in a rare winter election, especially as she banks on personal popularity rather than organized votes to boost the LDP’s seats.

About 20% of eligible voters, roughly 20.8 million, cast their ballots in early voting as of Friday, the internal affairs ministry said Saturday. In the last election, 16.43 million

voters, or 15% of the electorate, had voted by that time.

Voter turnout was 16.05% as of 2 p.m. local time, compared with 19.12% at the same time during the last election, according to the internal affairs ministry.

Strong winter storms have hit wide areas of Japan on Sunday, and heavy snow warning and alerts have been issued throughout the country. Japan Meteorological Agency has urged caution about high tidal waves and traffic disruptions caused by heavy snow and blizzard conditions. Central Tokyo has recorded 3 centimeters of snowfall during the past 24 hours up until 5 a.m. local time, according to the weather agency.

One of the leading issues in the election is a cost-of-living crunch for

families dealing with the first consistent bout of inflation in a generation. Both the LDP and CRA favor lowering the sales tax on food to zero to help households, but the LDP is looking at a temporary measure while the CRA wants the move to be permanent.

The smaller rivals include the Democratic Party for the People, a center-right grouping that is looking to raise people’s take-home pay and temporarily reduce the sales tax across the board. The far-right Sanseito, which won the second-largest number of votes in last summer’s upper house election, is looking to impose stricter rules on accepting foreign residents and wants to eventually scrap the sales tax altogether.

Investors are already positioning for a decisive victory for the LDP,

scooping up Japanese stocks and selling the yen and government bonds, as they expect an emboldened Takaichi to ramp up spending and investment to support the economy, while possibly slowing down the Bank of Japan’s pace of interest rate hikes. Depending on the outcome, the so-called Takaichi trade may either accelerate or unwind.

Still, Takaichi’s strong online presence and straight-talking messaging could work in her favor. Over her few months in power, she has gone viral playing the drums with the South Korean president and giving Italian Prime Minister Giorgia Meloni an enthusiastic hug. Orders for her handbags and pink pens have surged, with younger voters saying they find her different to her male predecessors.

In some recent polls, support for Takaichi among those aged between 18 and 29 is nearly 90%. A survey by public broadcaster NHK taken right after Takaichi took office put her approval rating at 77% among 18-to-39-year-olds, compared with 38% and 51% respectively for her immediate predecessors, Shigeru Ishiba and Fumio Kishida, when they began their terms.

Bloomberg economist Taro Kimura said: “If Takaichi’s ruling coalition secures a major win that gives her a single-party majority, she would be in a stronger position to fend off calls for cutting the sales tax on food, while pursuing her broader agenda of “responsible fiscal expansion.””

A victory for Takaichi would likely mean that she would pursue a proactive fiscal policy with a focus on in -

vesting in areas including rare earths and AI, as well as a more robust stance on defense and foreigners. After her pledge to introduce a temporary sales tax cut spooked investors, she has limited her focus on that move, likely conscious of the potential impact on markets if she overemphasizes plans that could worsen Japan’s already heavy debt burden.  Her pro-stimulus agenda may also complicate the BOJ’s tightening path and weigh on the yen, adding pressure on families and companies facing higher inflation driven by import costs especially with food bills soaring.

If Takaichi wins the mandate she seeks, she is likely to pursue a bolder stand on the international stage as well. She has already angered China with remarks she made about Taiwan. Her refusal to back down despite economic and diplomatic pressure from Beijing seems to echo the boldness that she appears to be envisioning for Japan.

US President Donald Trump has also endorsed Takaichi ahead of the vote, inviting her to the White House on March 19. “Prime Minister Takaichi is someone who deserves powerful recognition for the job she and her Coalition are doing,” Trump posted Thursday in a social media post.

Voting closes at 8:00 p.m. Sunday, with exit polls expected to be released immediately after.

With assistance from Taiga Uranaka/ Bloomberg

Thailand votes in early election with 3 parties vying for power

By Grant Peck

& Jintamas Saksornchai

BThe Associated Press

ANGKOK — Voters in Thailand went to the polls Sunday in an early general election seen as a three-way race among competing visions of progressive, populist and old-fashioned patronage politics.

The battle for support from 53 million registered voters comes against a backdrop of slow economic growth and heightened nationalist sentiment. While more than 50 parties are contesting the polls, only three—the People’s Party, Bhumjaithai, and Pheu Thai—have the nationwide organization and popularity to gain a winning mandate.

VOTERS look at candidates listed on a display board before entering a voting station for the general election in Bangkok, on Sunday, Feb. 8, 2026. AP PHOTO/WASON WANICHAKORN

A simple majority of the 500 elected lawmakers selects the next prime minister. No outright winner expected LOCAL polls consistently project that no single party will gain a majority, necessitating the formation of a coali -

tion government. Although the progressive People’s Party is seen as favored to win a plurality, its reformist politics aren’t

shared by its leading rivals, which may freeze it out by joining forces to form a government.

The People’s Party, led by Natthaphong Ruengpanyawut, is the successor to the Move Forward Party, which won the most seats in the House of Representatives in 2023, but was blocked from forming a government by conservative lawmakers and then forced to dissolve.

“I think we will get the mandate from the people, and we promised the people that we will form the people’s government to bring policies that benefit all, not a few in the country,” Natthaphong told reporters after casting his ballot in Bangkok soon after the polls opened at 8 a.m.

Reformist party softens its pitch HIS party’s platform continues to promise sweeping reforms of the military, police and judiciary, appeal -

ing to youth and urban voters. Legal constraints have led it to set aside demands for reform of a law that metes out harsh penalties for criticism of the monarchy, while putting new emphasis on economic issues.

Softening its politics risks weakening its core support, already at risk because the last election had positioned it squarely as the alternative to nine previous years of military-led government, a situation it can’t fruitfully exploit this time.

At the same time, its positions critical of the military can be a political liability with the surge of patriotism that emerged during last year’s border clashes with Cambodia, said Napon Jatusripitak, director of the Center for Politics and Geopolitics at Thailand Future, a Bangkok-based think tank.

The Bhumjaithai Party, headed by incumbent Prime Minister Anutin Charnvirakul, is seen as the main defender and preferred choice of the royalist-military establishment.

Anutin has been prime minister only since last September, after serving in the Cabinet of his immediate predecessor, Paetongtarn Shinawatra, who was forced out of office for an ethics violation regarding mishandling relations with Cambodia. He dissolved parliament in December to call a new election after he was threatened with a no-confidence vote.

Subsequent border clashes with Cambodia allowed Anutin to recast himself as a wartime leader after his popularity initially slipped because of floods and financial scandals. His campaign focuses on national security and economic stimulus.

“We have done everything that we had to, but we cannot force the mind of the people. We can only present ourselves, and hope that the people will have faith in us,” Anutin said after casting ballots in northeastern Buriram province, his party’s stronghold. Bhumjaithai, seen as the likeliest

party to form the next government, benefits from an electoral strategy employing old-style patronage politics and a machine skilled at grassroots organizing in the vote-rich northeast. Thaksin’s political machine THE Pheu Thai Party is the latest political vehicle for billionaire former Prime Minister Thaksin Shinawatra. Thaksin-backed parties staged repeated electoral comebacks, only to be ousted by conservative-leaning courts and state watchdog agencies. It softened its politics enough by the 2023 election to be returned to power after being judged by the previously hostile royalist-military establishment as an acceptable alternative to the more progressive Move Forward party.

The conservative court system rounded on it anyway—ousting two of its prime ministers over two years and ordering Thaksin imprisoned on old charges. The party now campaigns on economic revival and populist pledges like cash handouts, nominating Thaksin’s nephew, Yodchanan Wongsawat, as its lead candidate for prime minister.

“I’m excited, because I think today will be another busy day for the country’s democracy,” Yodchanan told reporters after voting. Sunday’s voting includes a referendum asking voters whether Thailand should replace its 2017 military-drafted constitution.

The vote isn’t on a proposed draft, but rather to decide whether to authorize parliament to begin a formal drafting process, which would require many further steps before coming to fruition.

Pro-democracy groups view a new charter as a critical step toward reducing the influence of unelected institutions such as the military and judiciary, while conservatives warn that it could cause instability.

Rising tensions spark surge in Danish boycott apps as consumers seek alternatives to American goods

By James Brooks The Associated Press

COPENHAGEN, Denmark—The makers of mobile apps designed to help shoppers identify and boycott American goods say they saw a surge of interest in Denmark and beyond after the recent flare-up in tensions over US President Donald Trump’s designs on Greenland.

The creator of the “Made O’Meter” app, Ian Rosenfeldt, said he saw around 30,000 downloads of the free app in just three days at the height of the trans-Atlantic diplomatic crisis in late January out of more than 100,000 since it was launched in March. Apps offer practical help

ROSENFELDT, who lives in Copenhagen and works in digital marketing, decided to create the app a year ago after joining a Facebook group of like-minded Danes hoping to boycott US goods.

“Many people were frustrated and thinking, ‘How do we actually do this in practical terms,’” the 53-year-old recalled. “If you use a bar code scanner, it’s difficult to see if a product is actually American or not, if it’s Danish or not. And if you don’t know that, you can’t really make a conscious choice.”

The latest version of “Made

O’Meter” uses artificial intelligence to identify and analyze several products at a time, then recommend similar European-made alternatives. Users can set preferences, like “No USA-owned brands” or “Only EU-based brands.” The app claims over 95% accuracy.

“By using artificial intelligence, you can take an image of a product … and it can make a deep dive to go out and find the correct information about the product in many levels,” Rosenfeldt told The Associated Press during a demonstration at a Copenhagen grocery store. “This way, you have information that you can use to take decisions on what you think is right.”

‘Losing an ally’

AFTER an initial surge of downloads when the app was launched, usage tailed off. Until last month, when Trump stepped up his rhetoric about the need for the US to acquire Green -

land, a strategically important and mineral-rich Arctic island that is a semiautonomous territory of Denmark.

Usage peaked Jan. 23, when there were almost 40,000 scans in one day, compared with 500 or so daily last summer. It has dropped back since but there were still around 5,000 a day this week, said Rosenfeldt, who noted “Made O’Meter” is used by over 20,000 people in Denmark but also by people in Germany, Spain, Italy, even Venezuela.

“It’s become much more personal,” said Rosenfeldt, who spoke of “losing an ally and a friend.”

Trump announced in January he would slap new tariffs on Denmark and seven other European countries

Israel says Netanyahu will meet with Trump on Wednesday about Iran talks

By Natalie Melzer

The Associated Press

JERUSALEM—Israeli Prime Minister Benjamin Netanyahu will meet with US President Donald Trump in Washington on Wednesday about American talks with Iran, his office said Saturday, while Iran’s foreign minister threatened US military bases in the region a day after the discussions.

“The prime minister believes that all negotiations must include limiting the ballistic missiles, and ending support for the Iranian axis,” Netanyahu’s office said in a brief statement, referring to Tehran’s support for militant groups, including Hezbollah in Lebanon and Hamas in the Palestinian territories. Trump and Netanyahu last met in December.

There was no immediate White House comment.

The US and the Islamic Republic of Iran held indirect talks on Friday in Oman that appeared to return to the starting point on how to approach discussions over Tehran’s nuclear program.

Trump called the talks “very good” and said more were planned for early next week. Washington was represented by Middle East special envoy Steve Witkoff and Jared Kushner, Trump’s son-in-law.

Trump has repeatedly threatened to use force to compel Iran to reach a deal on its nuclear program after sending the aircraft carrier USS Abraham Lincoln and other warships to the region amid Tehran’s crackdown on nationwide protests that killed thousands.

Gulf Arab nations fear an attack could spark a regional war, with memories fresh of the 12-day Israel-Iran war in June.

gram.

that opposed his takeover calls, only to abruptly drop his threats after he said a “framework” for a deal over access to mineral-rich Greenland was reached with NATO Secretary-General Mark Rutte’s help. Few details of that agreement have emerged.

The US began technical talks in late January to put together an Arctic security deal with Denmark and Greenland, which say sovereignty is not negotiable.

Rosenfeldt knows such boycotts won’t damage the US economy, but hopes to send a message to supermarkets and encourage greater reliance on European producers.

“Maybe we can send a signal and people will listen and we can make a change,” he added.

The protest may be largely symbolic ANOTHER Danish app, “NonUSA,” topped 100,000 downloads at the beginning of February. One of its creators, 21-year-old Jonas Pipper, said there were over 25,000 downloads Jan. 21, when 526 product scans were performed in a minute at one point. Of the users, some 46,000 are in Denmark and around 10,000 in Germany.

“We noticed some users saying they felt like a little bit of the pressure was lifted off them,” Pipper said. “They feel like they kind of gained the power back in this situation.”

It’s questionable whether such apps will have much practical effect.

Christina Gravert, an associate

professor of economics at the University of Copenhagen, said there are actually few US products on Danish grocery store shelves, “around 1% to 3%”. Nuts, wines and candy, for example. But there is widespread use of American technology in Denmark, from Apple iPhones to Microsoft Office tools.

“If you really want to have an

Even “Made O’Meter” and “NonU

Gravert, who specializes in behavioral economics, said such boycott campaigns are usually short-lived and real change often requires an organized effort rather than individual consumers.

“It can be interesting for big supermarket brands to say, OK, we’re not going to carry these products anymore because consumers don’t want to buy them,” she said. “If you think about large companies, this might have some type of impact on the import (they) do.”

On a recent morning, shoppers leaving one Copenhagen grocery store were divided.

“We do boycott, but we don’t know all the American goods. So, it’s mostly the well-known trademarks,” said Morten Nielsen, 68, a retired navy officer. “It’s a personal feeling … we feel we have to do something; I know we are not doing very much.”

“I love America, I love traveling in America,” said 63-year-old retiree Charlotte Fuglsang. “I don’t think we should protest that way.”

Drone attack by paramilitary group in Sudan kills 24, including 8 children–doctors’ group

By Samy Magdy The Associated Press

CAIRO—A drone attack by a notorious paramilitary group hit a vehicle carrying displaced families in central Sudan on Saturday, killing at least 24 people, including eight children, a doctors’ group said, a day after a World Food Program aid convoy was targeted.

Saturday’s attack by the Rapid Support Forces took place close to the city of Rahad in North Kordofan province, said the Sudan Doctors Network, which tracks the country’s ongoing war. The vehicle was transporting displaced people who fled fighting in the Dubeiker area, the group said in a statement. Among the dead children were two infants.

tance” to displaced people in the city of Obeid in North Kordofan when it was struck. The attack burned the trucks and destroyed the aid, she said.

“Attacks on aid operations undermine efforts to reach people facing hunger and displacement,” she said in a statement.

Last week, a drone strike hit close to a WFP facility in the Blue Nile province, wounding a WFP worker, Brown also said.

Emergency Lawyers, an independent group documenting atrocities in Sudan, blamed the RSF for the attack, while the Sudan Doctors Network called it a “flagrant violation of international humanitarian law and amounts to a full-fledged war crime.”

U.N. experts of arming the paramilitary group. The UAE has denied the accusations.

Famine report portrays a grim picture IN recent months, Kordofan has become a flashpoint in the war and the army managed to break the RSF siege of two major cities in the region earlier this year.

Iranian Foreign Minister Abbas Araghchi told journalists Friday that “nuclear talks and the resolution of the main issues must take place in a calm atmosphere, without tension and without threats.” He said that diplomats would return to their capitals, signaling that this round of negotiations was over.

On Saturday, Araghchi told the Al Jazeera satellite news network that if the US attacks Iran, his country doesn’t have the ability to strike the US “and therefore has to attack or retaliate against US bases in the region.”

He said there is “very, very deep distrust” after what happened during the previous talks, when the US bombed Iranian nuclear sites during last year’s Israel-Iran war. Araghchi also said the “missile issue” and other defense matters are “in no way negotiable, neither now nor at any time in the future.”

Tehran has maintained that these talks will be only on its nuclear pro -

For the first time in negotiations with Iran, the US on Friday brought its top military commander in the Middle East to the table. US Navy Adm. Brad Cooper, head of the military’s Central Command, then visited the USS Abraham Lincoln on Saturday with Witkoff and Kushner, the command said in a statement.

However, Al Jazeera reported that diplomats from Egypt, Turkey and Qatar offered Iran a proposal in which Tehran would halt enrichment for three years, send its highly enriched uranium out of the country and pledge to “not initiate the use of ballistic missiles.”

US Secretary of State Marco Rubio said Wednesday that the talks needed to include all those issues.

Israel, a close US ally, believes Iran is pursuing a nuclear weapon and wants its program scrapped, though Iran has insisted that its atomic plans are for peaceful purposes. Israel also wants a halt to Iran’s ballistic missile program and its support for militant groups in the region.

Araghchi, speaking at a forum in Qatar on Saturday, accused Israel of destabilizing the region, saying that it “breaches sovereignties, it assassinates official dignitaries, it conducts terrorist operations, it expands its reach in multiple theaters.” He criticized Israel’s treatment of Palestinians and called for “comprehensive and targeted sanctions against Israel, including an immediate arms embargo.”

Several others were wounded and taken for treatment in Rahad, which suffers severe medical supplies shortages, like many areas in the Kordofan region, the statement said.

The doctors’ group urged the international community and rights organizations to “take immediate action to protect civilians and hold the RSF leadership directly accountable for these violations.”

There was no immediate comment from the RSF, which has been at war against the Sudanese military for control of the country for about three years.

Sudan plunged into chaos in April 2023 when a power struggle between the military and the RSF exploded into open fighting in the capital, Khartoum, and elsewhere in the country, leaving tens of thousands dead and millions displaced.

WFP aid convoy attacked

A DRONE attack on Friday on a WFP aid convoy in North Kordofan province killed one and wounded several others, said Denise Brown, the U.N. humanitarian coordinator in Sudan. Brown said the convoy was heading to deliver “life-saving food assis -

Massad Boulos, a US adviser for African and Arab affairs, condemned the attack on X and called for holding those responsible accountable.

“Destroying food intended for people in need and killing humanitarian workers is sickening,” he said. “The Trump Administration has zero tolerance for this destruction of life and of US-funded assistance; we demand accountability.”

The British minister for international development and Africa, Jenny Chapman, called the attack on the WFP convoy “disgraceful.”

“Civilians are starving,” she wrote Saturday on X. “Aid workers and humanitarian operations bringing vital food should never be targeted.”

In a strongly worded statement Saturday, Saudi Arabia’s foreign ministry blasted the RSF for its recent drone strikes, including on the vehicle of displaced families, the WFP convoy and on a hospital in Kordofan that killed 22 people.

The Saudi statement called for the RSF to stop their attacks on civilians and aid convoys, and called out foreign parties that continue to “deliver illegal arms, mercenaries and foreign fighters”—an apparent reference to the United Arab Emirates, which has been accused by rights groups and

The devastating war has so far killed more than 40,000 people, according to U.N. figures, but aid groups say that is an undercount and the true number could be many times higher. It created the world’s largest humanitarian crisis with over 14 million people forced to flee their homes. It has fueled disease outbreaks and pushed parts of the country into famine that still spreads as the war shows no sign of abating.

In a report released Thursday, the Integrated Food Security Phase Classification, or IPC, said famine was found in two more areas in the western region of Darfur where famine was confirmed for the first time in a displacement camp in August 2024. The report warned that acute malnutrition is expected to worsen in 2026, with a 13.5% increase in cases of acute malnutrition in children under five and pregnant and breastfeeding women—from 3.7 million children and women in 2025 to nearly 4.2 million in 2026.

Severe acute malnutrition, the most dangerous and deadly form of malnutrition, is expected to increase to 800,000 cases, up 4% from 2025, it said.

Mohamad Abdiladif, country director for Save the Children in Sudan, said children were already dying from hunger-related causes in many parts of Sudan.

“Every day we hear devastating stories of parents selling the last of what they own simply to keep their children alive from one day to the next,” he said.

Washington Post publisher Will Lewis stepping down, days after big layoffs

By David Bauder AP Media Writer

ASHINGTON Post

Wpublisher Will Lewis said Saturday that he’s stepping down, ending a troubled tenure three days after the newspaper said that it was laying off one-third of its staff.

Lewis announced his departure in a two-paragraph email to the newspaper’s staff, saying that after two years of transformation, “now is the right time for me to step aside.” The Post’s chief financial officer, Jeff D’Onofrio, was appointed temporary publisher.

Neither Lewis nor the newspaper’s billionaire owner Jeff Bezos participated in the meeting with staff members announcing the layoffs on Wednesday. While anticipated, the cutbacks were deeper than expected, resulting in the shutdown of the Post’s renowned sports section, the elimination of its photography staff and sharp reductions in personnel responsible for coverage of metropolitan Washington and overseas.

They came on top of widespread talent defections in recent years at the newspaper, which lost tens of thousands of subscribers following Bezos’ order late in the 2024 presidential campaign pulling back from a planned endorsement of Kamala Harris, and a subsequent reorienting of its opinion section in a more conservative direction.

Martin Baron, the Post’s first editor under Bezos, condemned his for -

mer boss this week for attempting to curry favor with President Donald Trump and called what has happened at the newspaper “a case study in near-instant, self-inflicted brand destruction.”

The British-born Lewis was a former top executive at The Wall Street Journal before taking over at The Post in January 2024. His tenure has been rocky from the start, marked by layoffs and a failed reorganization plan that led to the departure of former top editor Sally Buzbee. His initial choice to take over for Buzbee, Robert Winnett, withdrew from the job after ethical questions were raised about both he and Lewis’ actions while working in England. They include paying for information that produced major stories, actions that would be considered unethical

news to millions of customers each day,” Lewis said.

The Washington Post Guild, the union representing staff members, called Lewis’ exit long overdue.

“His legacy will be the attempted destruction of a great American journalism institution,” the Guild said in a statement. “But it’s not too late to save The Post. Jeff Bezos must immediately rescind these layoffs or sell the paper to someone willing to invest in its future.”

Bezos did not mention Lewis in a statement saying D’Onofrio and his team are positioned to lead The Post into “an exciting and thriving next chapter.”

Health costs are fueling voter stress and powering Democratic campaigns

By Ali Swenson & Jeff Amy The Associated Press

OLLEGE PARK, Ga.—Presi -

Cdent Donald Trump’s second term has presented an array of opportunities for political opponents, from immigration crackdowns and lingering inflation to attacks on independent institutions and friction with overseas allies.

in American journalism. The current executive editor, Matt Murray, took over shortly thereafter.

Lewis didn’t endear himself to Washington Post journalists with blunt talk about their work, at one point saying in a staff meeting that they needed to make changes because not enough people were reading their work.

This week’s layoffs have led to some calls for Bezos to either increase his investment in The Post or sell it to someone who will take a more active role. Lewis, in his note, praised Bezos: “The institution could not have had a better owner,” he said.

“During my tenure, difficult decisions have been taken in order to ensure the sustainable future of The Post so it can for many years ahead publish high-quality nonpartisan

“The Post has an essential journalistic mission and an extraordinary opportunity,” Bezos said. “Each and every day our readers give us a roadmap to success. The data tells us what is valuable and where to focus.”

D’Onofrio, who joined the paper last June after jobs at the digital ad management company Raptive, Google, Zagat and Major League Baseball, said in a note to staff that “we are ending a hard week of change with more change.

“This is a challenging time across all media organizations, and The Post is unfortunately no exception,” he wrote. “I’ve had the privilege of helping chart the course of disrupters and cultural stalwarts alike. All faced economic headwinds in changing industry landscapes, and we rose to meet those moments. I have no doubt we will do just that, together.”

Epstein revelations toppled top figures in Europe while US fallout more muted

By Jill Lawless

The Associated Press

ONDON — A prince, an am -

Lbassador, senior diplomats, top politicians. All brought down by the Jeffrey Epstein files. And all in Europe, rather than the United States.

The huge trove of Epstein documents released by the US Department of Justice has sent shock waves through Europe’s political, economic and social elites — dominating headlines, ending careers and spurring political and criminal investigations.

Former U.K. Ambassador to Washington Peter Mandelson was fired and could go to prison. British Prime Minister Keir Starmer faces a leadership crisis over the Mandelson appointment. Senior figures have fallen in Norway, Sweden and Slovakia. And, even before the latest batch of files, Andrew Mountbatten-Windsor, brother of King Charles III, lost his honors, princely title and taxpayerfunded mansion.

Apart from the former Prince Andrew, none of them faces claims of sexual wrongdoing. They have been toppled for maintaining friendly relationships with Epstein after he became a convicted sex offender.

“Epstein collected powerful people the way others collect frequent flyer points,” said Mark Stephens, a specialist in international and human rights law at Howard Kennedy in London. “But the receipts are now in public, and some might wish they’d traveled less.”

The documents were published after a public frenzy over Epstein became a crisis for President Donald Trump’s administration and led to a rare bipartisan effort to force the government to open its investigative files. But in the US, the long-sought publication has not brought the same public reckoning with Epstein’s associates — at least so far.

Rob Ford, a professor of political science at the University of Manchester, said that in Britain, “if you’re in those files, it’s immediately a big story.”

“It suggests to me we have a more functional media, we have a more functional accountability structure, that there is still a degree of shame in

politics, in terms of people will say: ‘This is just not acceptable, this is just not done,’” he said.

British repercussions

U.K. figures felled by their ties to Epstein include the former Prince Andrew—who paid millions to settle a lawsuit with one of Epstein’s victims and is facing pressure to testify in the US—and his ex-wife Sarah Ferguson, whose charity shut down this week.

Like others now ensnared, veteran politician Mandelson long downplayed his relationship with Epstein, despite calling him “my best pal” in 2003. The new files reveal contact continued for years after the financier’s 2008 prison term for sexual offenses involving a minor. In a July 2009 message, Mandelson appeared to refer to Epstein’s release from prison as “liberation day.”

Starmer fired Mandelson in September over earlier revelations about his Epstein ties. Now British police are investigating whether Mandelson committed misconduct in public office by passing on sensitive government information to Epstein.

Starmer has apologized to Epstein’s victims and pledged to release public documents that will show Mandelson lied when he was being vetted for the ambassador’s job. That may not be enough to stop furious lawmakers trying to eject the prime minister from office over his failure of judgment.

American associates

EXPERTS caution that Britain shouldn’t be too quick to pat itself on the back over its rapid reckoning with Mandelson. The US has a better record than the U.K. when it comes to declassifying and publishing information.

But Alex Thomas, executive director of the Institute for Government think tank, said “there is something about parliamentary democracy,” with its need for a prime minister to retain the confidence of Parliament to stay in office, “that I think does help drive accountability.”

A few high-profile Americans have faced repercussions over their friendly ties with Epstein. Most prominent is former US Treasury Secretary Larry Summers, who went on leave from

academic positions at Harvard University late last year.

Brad Karp quit last week as chair of top US law firm Paul Weiss after revelations in the latest batch of documents, and the National Football League said it would investigate Epstein’s relationship with New York Giants co-owner Steve Tisch, who exchanged sometimes crude e-mails with Epstein about potential dates with adult women.

Other US Epstein associates have not yet faced severe sanction, including former Trump strategist Steve Bannon, who exchanged hundreds of texts with Epstein, Commerce Secretary Howard Lutnick, who accepted an invitation to visit Epstein’s private island, and tech billionaire Elon Musk, who discussed visiting the island in emails, but says he never made the trip.

Former President Bill Clinton has been compelled by Republicans to testify before Congress about his friendship with Epstein. Trump, too, has repeatedly faced questions about his ties to Epstein. Neither he nor Clinton has ever been accused of wrongdoing by Epstein’s victims.

European investigations

THE Epstein files reveal the global network of royals, political leaders, billionaires, bankers and academics that the wealthy financier built around him.

Across Europe, officials have had or resign or face censure after the Epstein files revealed relationships that were more extensive than previously disclosed.

Joanna Rubinstein, a Swedish U.N. official, quit after the revelation of a 2012 visit to Epstein’s Caribbean island. Miroslav Lajcak, national security adviser to Slovakia’s prime minister, quit over his communications with Epstein, which included the pair discussing “gorgeous” girls.

Latvia, Lithuania and Poland have set up wide-ranging official investigations into the documents. Poland’s Prime Minister Donald Tusk said a team would scour the files for potential Polish victims, and any links between Epstein and Russian secret services.

Epstein took an interest in Euro -

pean politics, in one email exchange with billionaire Peter Thiel calling Britain’s 2016 vote to leave the European Union “just the beginning” and part of a return to “tribalism.”

Grégoire Roos, director of the Europe program at the think tank Chatham House, said the files uncover Epstein’s “far-reaching” network of contacts in Europe, “and the level of access among not just those who were already in power, but those who were getting there.

“It will be interesting to see whether in the correspondence he had an influence in policymaking,” Roos said.

Norwegian revelations

FEW countries have been as roiled by the Epstein revelations as Norway, a Scandinavian nation with a population of less than 6 million.

The country’s economic crimes unit has opened a corruption investigation into former Prime Minister Thorbjørn Jagland — who also once headed the committee that hands out the Nobel Peace Prize — over his ties with Epstein. His lawyer said Jagland would cooperate with the probe.

Also ensnared are high-profile Norwegian diplomat couple Terje RødLarsen and Mona Juul, key players in the 1990s Israel-Palestinian peace efforts. Juul has been suspended as Norway’s ambassador to Jordan after revelations including the fact that Epstein left the couple’s children $10 million in a will drawn up shortly before his death by suicide in a New York prison in 2019.

Norwegians’ respect for their royal family has been dented by new details about Epstein’s friendship with Crown Princess Mette-Marit, who is married to the heir to the throne, Prince Haakon. The files include jokey exchanges and e-mails planning visits to Epstein properties, teeth-whitening appointments and shopping trips.

The princess apologized Friday “to all of you whom I have disappointed.”

The disclosures came as her son from a previous relationship, Marius Borg Høiby, stands trial in Oslo on rape charges, which he denies.

Many Democrats, however, are staying focused on health care, an issue that was once a political liability but has become foundational for the party in recent elections. They insist their strategy will help the party regain control of Congress in the November elections and fare better than chasing headlines about the latest outrages out of the White House.

Republicans last year cut about $1 trillion over a decade from Medicaid and declined to extend Covid-era subsidies that had lowered the cost of health plans under the Affordable Care Act.

Democrats are filming campaign spots outside struggling hospitals, spotlighting Americans facing spiking insurance premiums and sharing their own personal health care stories.

US Sen. Jon Ossoff of Georgia, one of the party’s most endangered incumbents this year, said at a rally Saturday attended by more than 1,000 people in an Atlanta suburb that health care is part of Trump’s abandonment of working people.

“While prices are going up and jobs are getting harder to find, they decided to let health insurance premiums double for more than 20 million Americans, including more than a million Georgians,” said Ossoff, the only Democratic senator seeking reelection this year in a state that Trump won in 2024. He said 200,000 people in Georgia had lost their coverage.

Brad Woodhouse, a Democratic strategist and executive director of advocacy group Protect Our Care, said health care is “a banger of an issue for Democrats.”

“I think it will be part of every single campaign, up and down the ballot,” he said.

Republicans defend their votes as reining in ballooning health spending and cracking down on what they call waste, fraud and abuse. Trump recently launched a website to help patients buy discounted prescription drugs.

“They are working every single day to make sure that we bring affordability to the people,” said Joe Gruters, chairman of the Republican National Committee.

But the party, despite controlling both chambers of Congress, has been unable so far to pass comprehensive legislation to offset Americans’ health costs.

Ron Bonjean, a Republican strategist, said the issue would remain his party’s “Achilles’ heel” until its leaders draft realistic proposals that can become law.

Public opinion on health care wasn’t always in Democrats’ favor HEALTH care was once seen as a political liability for the left.

In 2010, Democrats lost their US House majority after President Barack Obama’s signature health policy, the ACA, passed without a single Republican vote. In 2014, they gave up the US Senate a year after his administration fumbled the rollout of Healthcare.gov. Those tides turned when Trump “touched the stove” during his first term, Woodhouse said, by supporting unsuccessful efforts to repeal and replace the health overhaul, known as “Obamacare,” potentially leaving millions of people uninsured and making it harder for those with preexisting medical conditions to get coverage.

Last year Republicans passed legislation to reduce spending on federal health programs and food assistance, largely by imposing work requirements on people receiving aid and by shifting certain costs onto the states.

Republicans said that would stave off abuse of the Medicaid program,

and added a $50 billion investment in rural health to offset losses.

Unrig Our Economy, a left-wing group, said it has funneled more than $12 million into ads criticizing Republicans on health care since early 2025.

Democrats saw another opportunity to win voters’ support last year as enhanced ACA tax credits headed toward expiration and they forced a government shutdown over the issue. The funding wasn’t restored but the party believes it gained political leverage going into this year’s campaigns.

“Republicans own it now,” said Eric Stern, a Democratic media strategist. “You better believe Democrats are going to be talking about that.”

Candidates highlight emotional stories

STEF FELDMAN , a Democratic consultant who was an aide to former President Joe Biden, said she is hearing from candidates that voters care about health affordability “more than just about anything else.”

A recent poll from the health care research nonprofit KFF backs that observation. It found that about onethird of US adults are “very worried” about the cost of health care, compared with about one-quarter who feel the same way about the cost of groceries, housing or utilities.

For Iowa state Sen. Zach Wahls, who is running for the US Senate this year, tapping into those concerns has meant visits to vulnerable hospitals and tours of pharmacies. For Rebecca Cooke, a US House candidate in Wisconsin, it has meant meetings with hospital leaders and telling personal stories, including about her dad’s expensive prostate cancer drugs and the $200 jump in her own ACA premiums. Ossoff has called health care “a life-or-death question.”

Teresa Acosta, who frequently campaigns for Democratic candidates, said her ACA policy, which covers herself and two teenagers, including a son with Type 1 diabetes, now costs $520 a month, seven times more than before expanded subsidies went away.

“Ultimately, Trump and congressional Republicans refused to act,” Acosta said at the Ossoff rally. “They refused to stand up for the care that me and over 1 million Georgians rely on.” ACA plans are heavily relied upon in Georgia, one of the 10 states that didn’t expand Medicaid. Advocates have warned that the expiration of the expanded subsidies could leave Georgia residents uninsured. Recent federal data shows about 14% fewer Georgians have signed up for plans in 2026 compared with last year, although those numbers aren’t yet final.

Republicans say they don’t want to throw money at a ‘broken system’

US Reps. Mike Collins and Buddy Carter, two of Ossoff’s top Republican opponents, voted in January against a temporary ACA tax-credit extension that passed the House but languished in the Senate. Both deride the ACA as the “Unaffordable Care Act,” a phrase used by Trump, and favor a narrower Republican alternative. Carter, who worked as a pharmacist, said an extension amounted to “throwing more money at a broken system, riddled with waste, fraud and abuse, without addressing the root cause of skyrocketing costs.” US Rep. Derrick Van Orden, the Wisconsin Republican fending off a challenge from Cooke, was one of 17 Republicans who voted for the temporary extension. He said he did not support the subsidies but had to vote that way to protect his constituents. He noted that Democrats set the expiration date in the first place. But Van Orden was also critical of his own party for allowing the tax credits to expire without another solution in place.

After filming Iran’s violent crackdown on protesters, she fears going outside

By Sarah El Deeb

The Associated Press

BEIRUT—As tear gas canisters landed among protesters filling the wide boulevard, the 37-year-old beautician and her friends ran for cover. They sheltered among trees, concealed in darkness pierced only by the glow of streetlights and small fires behind them in the western Iranian city of Karaj. Then gunfire rang out, audible in the video she was taking on her phone.

“Don’t be afraid,” she screamed repeatedly, her voice breaking. The crowd joined at the top of their lungs: “Don’t be afraid. We are all together.”

“Are they using live bullets?” she cried out.

“Shameless! Shameless!” Others joined in the chant, along with cries of “Death to the dictator!”

It was a moment of collective boldness on Jan. 8, the night hundreds of thousands of Iranians across the country took to the streets against the cleric-led theocracy that has ruled for nearly 50 years. But after the bloodshed of that night, the beautician, like countless others, has retreated into terrified isolation. She moved in with her mother, afraid to be alone, and has huddled there, anxious and unable to sleep.

A blanket of fear has settled over Iran, she said, and a sense of grief and quiet rage has taken over.

“When you look at people in the street, it feels like you are seeing walking corpses, people with no hope left to continue living,” she said in a text message in late January.

Her videos and messages provide a raw account of the exuberance that protesters felt taking to the streets last month—and the shock that has paralyzed many after the bloodiest crackdown ever inflicted by the Islamic Republic. The beautician expressed despair that change can happen and a sense of abandonment by the world.

She saw little hope in Iran-US nuclear talks that were held Friday even as they trade warnings of war. She feared Iran’s leaders will outlast

Trump’s pressure and “become entrenched and all those people who died will have died in vain,” she wrote.

Monitoring groups say at least 6,854 were killed, most on Jan. 8 and 9, but they say the full number could be triple that. The clampdown since has also been unprecedented. A monthlong internet blackout has hidden the full extent of what happened, even as more than 50,000 people have been reported detained.

The Associated Press received more than a dozen videos as well as text messages the beautician sent to a relative of hers in Los Angeles during sporadic openings in the internet shutdown. The beautician gave permission for the material to be shared.

The AP is withholding the names of the beautician and her relative for their security. The AP verified the location and authenticity of her videos, which corresponded with known features of the area around Samandehi Park in Karaj. The AP could not verify all details in her account, but it broadly conforms with accounts from other protesters documented by the AP and rights groups.

Taking to the streets THE beautician struggled in Iran’s economy, crippled by decades of corruption and mismanagement and international sanctions. With jobs hard to find, she chose to work for herself as a nail technician, believing she could make a better living, said the relative, who has long been close to her and was in frequent contact even before the protests.

She gave up on having a family or children, the relative said. Everything was too expensive, and it was too repressive in Iran to bring up kids.

She had little faith in Iranian politicians claiming to be moderates and reformers, the relative said. But she joined protests. The power of a popular movement fueled her sense that change in Iran was possible.

She participated in the 2022 protests ignited by the death of Mahsa Amini, who died after being arrested for not wearing her headscarf to the liking of authorities. But she was disil -

lusioned by the violence that followed. Over 500 were believed killed and over 22,000 detained.

Her desire changed “from saving her country to saving herself,” the relative said. Her family looked for opportunities for her to leave Iran, but they never materialized.

When protests triggered by the plunging value of Iran’s currency began in late December, she didn’t take part at first.

But when she found she could hardly even afford cooking oil, it was the last straw. She told her relative that she made the equivalent of only $40 in December, down from an already paltry $300-$400 average for the past year.

On Jan. 8, she made plans with her friends to join the protests.

Iranians poured into the streets on Jan. 8

THAT night, Iranians poured into the streets of at least 192 cities across Iran’s 31 provinces, according to the US-based Human Rights Activists News Agency. These were quite possibly the biggest anti-government rallies since the 1979 Islamic Revolution. The diversity of the crowds across social and economic classes was greater than past marches.

The beautician’s videos show protesters filling a main boulevard in Karaj. Their confidence bolstered by their numbers, they walk unhurriedly among the trees. Women, men and children chant, “ Death to Khamenei, “ referring to Supreme Leader Ali Khamenei.

Some chanted in support of the exiled crown prince Reza Pahlavi, the son of Iran’s last shah, who had called for the public to turn out. Some set up bonfires and formed protest circles around them.

It is not clear from her videos how the violence began.

One video shows protesters lined up outside a police station, cheering, while a fire burned inside.

From inside the station, police fired tear gas and shotgun pellets, the beautician said in a message. Live ammunition quickly followed.

Rafah hope fades: Reopened Gaza crossing marred by delays, disputes and detentions

By Wafaa Shurafa, Noha Elhennawy & Adam Geller

The Associated Press

KHAN YOUNIS, Gaza Strip—

When the Rafah border crossing between Gaza and Egypt finally reopened this week, Palestinian officials heralded it as a “window of hope” after two years of war as a fragile ceasefire deal moves forward.

But that hope has been sidetracked by disagreements over who should be allowed through, hours long delays and Palestinian travelers’ reports of being handcuffed and interrogated by Israeli soldiers.

Far fewer people than expected have crossed in both directions. Restrictions negotiated by Israeli, Egyptian, Palestinian and international officials meant that only 50 people would be allowed to return to Gaza each day and 50 medical patients— along with two companions for each— would be allowed to leave.

But over the first four days of operations, just 36 Palestinians requiring medical care were allowed to leave for Egypt, plus 62 companions, according to United Nations data. Palestinian officials say nearly 20,000 people in Gaza are seeking to leave for medical care that they say is not available in the war-shattered territory.

Amid confusion around the reopening, the Rafah crossing was closed Friday and Saturday.

Hours of questioning

THE Rafah crossing is a lifeline for

Gaza, providing the only link to the outside world not controlled by Israel. Israel seized it in May 2024, though traffic through the crossing was heavily restricted even before that.

Several women who managed to return to Gaza after its reopening recounted to The Associated Press harsh treatment by Israeli authorities and an Israeli-backed Palestinian armed group, Abu Shabab. A European Union mission and Palestinian officials run the border crossing, and Israel has its screening facility some distance away.

Rana al-Louh, anxious to return two years after fleeing to Egypt with her wounded sister, said Israeli screeners asked multiple times why she wanted to go back to Gaza during questioning that lasted more than six hours. She said she was blindfolded and handcuffed, an allegation made by others.

“I told them I returned to Palestine because my husband and kids are there,” al-Louh said. Interrogators told her Gaza belonged to Israel and that “the war would return, that Hamas won’t give up its weapons. I told him I didn’t care, I wanted to return.”

Asked about such reports, Israel’s military replied that “no incidents of inappropriate conduct, mistreatment, apprehensions or confiscation of property by the Israeli security establishment are known.”

The Shin Bet intelligence agency and COGAT, the Israeli military body that handles Palestinian civilian af -

The beautician wrote to her relative that she saw nearly 20 people shot in her immediate circle. The parents of a family friend were shot and killed as they tried to help a wounded person. Another friend’s father was killed, and authorities later made his daughter pay the equivalent of $4,500 to release his body.

In one video, a group huddled over a wounded protester, her leg covered in blood. They frantically looked for a way to stop the bleeding.

“Do you have a scarf? A headscarf, anything?” one person shouted. Another said: “We can’t go to the hospital,” apparently out of fear of being detained. Another interjected, in a panic: “Tie it tight and fasten it.”

The government has put the death toll from the wave of nationwide protests at more than 3,000, and Khamenei has denounced them as “a coup.”

‘We are all in mourning’

THE next night, rights groups say shooting continued in Karaj, with snipers on rooftops and more dead. The beautician stepped out of the house but quickly returned, filming nothing, her relative said.

She has hardly left since.

“WE have seen so many horrific scenes of people being killed before our eyes that we are now afraid to leave our homes,” she wrote in a message.

She fears security agents will come to her building, she wrote. She and her neighbors agreed not to let in anyone who rings the bells.

She takes tranquilizers “but I don’t truly sleep,” she wrote. “Everyone I talk to says they cannot sleep at night, stressed that at any moment they might come and attack our homes.”

One night in late January, she went out briefly to withdraw money from the bank sent by her relative. But the bank had no cash.

Over all the years of repression, “we always kept going, strong,” she wrote. Not this time.

“We are all in mourning, filled with anger that we no longer even dare to shout out, for fear of our lives. Because they have no mercy.”

Ukraine businesses struggle to cope as Russian attacks bring power outages and uncertainty

By kamila hrabchuk The Associated Press

KYIV, Ukraine—It is pre-dawn in the historic Podil district of the Ukraine capital, Kyiv, and warm light from the Spelta bakerybistro’s window pierces the darkness outside. On a wooden surface dusted with flour, the baker Oleksandr Kutsenko skillfully divides and shapes soft, damp pieces of dough. As he shoves the first loaves into the oven, a sweet, delicate aroma of fresh bread fills the space.

Seconds later the lights go out, the ovens switch off and darkness envelops the room. Kutsenko, 31, steps outside into the freezing night, switches on a large rectangular generator and the power kicks back in. It’s a pattern that will be repeated many times as the business struggles to keep working through the power outages caused by Russia’s bombing campaign on Ukraine’s energy grid.

“It’s now more than impossible to imagine a Ukrainian business operating without a generator,” said Olha Hrynchuk, the co-founder and head baker of Spelta.

its water supply, and soon after the sewer system stopped working.

“We were forced to close. We believe it’s temporary. Businesses in December and January, unfortunately, operate at a loss,” Bilym said. Now she has to regularly check the coffee machine and the specialty refrigerators, which she fears may not withstand the cold. Bilym hopes the closure is short-term. Her husband volunteered to serve in the military on the front line and she wants him to have somewhere to come back to when he returns to civilian life.

Generators are expensive to run MANY businesses have become a lifeline for communities struggling with plunging temperatures. Ukraine’s government has allowed some firms to operate during curfew hours in the energy emergency as “Points of Invincibility,” allowing access to free electricity to charge phones and power banks, drink tea and have some respite from the cold.

fairs and coordinates the crossings, did not respond to questions about the allegations.

The long questioning Wednesday delayed the return to Gaza of alLouh and others until nearly 2 a.m. Thursday.

Later that day, U.N. human rights officials noted a “consistent pattern of ill-treatment, abuse and humiliation by Israeli military forces.”

“After two years of utter devastation, being able to return to their families and what remains of their homes in safety and dignity is the bare minimum,” Ajith Sunghay, the agency’s human rights chief for the occupied Palestinian territories, said in a statement.

Numbers below targets OFFICIALS who negotiated the Rafah reopening were clear that the early days of operation would be a pilot. If successful, the number of people crossing could increase.

Challenges quickly emerged. On the first day, Monday, Israeli officials said 71 patients and companions were approved to leave Gaza, with 46 Palestinians approved to enter. Inside Gaza, however, organizers with the World Health Organization were able to arrange transportation for only 12 people that day, so other patients stayed behind, according to a person briefed on the operations who spoke on condition of anonymity because they were not authorized to speak to the media.

Israeli officials insisted that no

Palestinians would be allowed to enter Gaza until all the departures were complete. Then they said that since only 12 people had left Gaza, only 12 could enter, leaving the rest to wait on the Egyptian side of the border overnight, according to the person briefed on the operations.

Crossings picked up on the second day, when 40 people were allowed to leave Gaza and 40 to enter. But delays mounted as many returning travelers had more luggage than set out in the agreement reached by negotiators and items that were forbidden, including cigarettes and water and other liquids like perfume. Each traveler is allowed to carry one mobile phone and a small amount of money if they submit a declaration 24 hours ahead of travel.

Each time a Palestinian was admitted to Egypt, Israeli authorities allowed one more into Gaza, drawing out the process.

The problems continued Wednesday and Thursday, with the numbers allowed to cross declining. The bus carrying Wednesday’s returnees from the crossing did not reach its dropoff location in Gaza until 1:40 a.m. Thursday.

Still, some Palestinians said they were grateful to have made the journey. As Siham Omran’s return to Gaza stretched into early Thursday, she steadied herself with thoughts of her children and husband, whom she had not seen for 20 months. She said she was exhausted, and stunned by Gaza’s devastation.

Elhennawy reported from Cairo and Geller from New York. Associated Press writer Josef Federman in Jerusalem contributed to this report.

The cost of purchasing and operating generators to overcome power outages is just one of many challenges facing Ukrainian businesses after nearly four years of war. Acute labor shortages due to mobilization and war-related migration, security risks, declining purchasing power and complicated logistics add to the pressure, officials say.

Hrynchuk, 28, opened the bakery 10 months after Russia launched its full-scale invasion in 2022. That winter was the first year Russia targeted Ukraine’s energy system. Hrynchuk says they barely know what it is to work under “normal” conditions, but have never faced the challenges they do now.

Production is entirely dependent on electricity and the generator burns about 700 hryvnias ($16) worth of fuel per hour.

“We run on a generator for 10 to 12 hours a day. You have no fixed schedule—you have to adapt and refuel it at the same time,” Hrynchuk said.

‘Operate at a loss’

OLHA Nasonova, 52, who is head of the Restaurants of Ukraine analytical center, says the industry is experiencing its most difficult period of the past 20 years.

While businesses were prepared for electricity cuts, no one expected such a cold winter and it’s been especially tough for small cafés and family-run establishments, because they have the least financial resources.

The “Best Way to Cup” project, which has two venues and roasts and grinds its own coffee, is on the brink of permanent closure. Co-founder Yana Bilym, 33, who opened the cafe in May, said a Russian attack shattered all its windows and glass doors in August.

Bilym said the cost of renovation was 150,000 hryvnias (about $3,400), half of which she financed with a bank loan that she only recently finished repaying.

Last month, after several consecutive large-scale Russian attacks on the energy sector, her entire building lost

Tetiana Abramova, 61, is a founder of the Rito Group, a clothing company that has been producing designer knitwear for men and women since 1991, the year Ukraine became independent. It participates in Ukraine Fashion Week, the country’s biggest fashion show, and exports garments to the United States. Abramova took out a loan in 2022 to purchase a powerful 35-kilowatt generator costing 500,000 hryvnias ($11,500) to keep the business running during blackouts and a wood-fired boiler for heating.

“At work we have heat, we have water, we have light—and we have each other,” she said.

But it’s not easy. Operating on generators is 15%–20% more expensive than using regular electricity. As a result, production costs are currently about 15% higher than normal. Added to that, customer numbers have dropped by about 40% as many people have left the country, so the focus is now on attracting new clients through online sales.

“Profitability has fallen by around 50%, partly due to power outages,” she said. “This affects both the volume and efficiency of our work. We simply cannot operate as much as we used to.”

‘Main goal is to survive’ A MACROECONOMIC forecast by the Kyiv School of Economics for the first quarter of 2026 says strikes on the energy system are currently the most acute short-term risk to the country’s GDP. The analysis says if business manages to adapt, output losses could be limited to around 1% or 2% of GDP. But if the energy system failures are prolonged it could lead to larger losses, of as much as 2% or 3% of GDP.

Abramova, an entrepreneur with more than 30 years of experience, says she spent nearly 100,000 hryvnias ($2,300) over two months on generator servicing to maintain production. But she cannot pass all those costs on to retailers.

“For us now, the main goal is not to be the most efficient, but to survive,” Abramova said.

to this report.

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Monday, February 9, 2026

Travel tax levy fails to improve tourism infra

By Jovee Marie N. dela Cruz @joveemarie

AVICE chairman of the House Committee on Tourism has called for a congressional review of how travel tax collections have been spent, saying the levy has failed to translate into adequate tourism infrastructure—particularly in top destinations like Palawan–and has instead become an added burden on travelers.

The House Committee on Tourism vice chairman, Palawan Rep. Gil Acosta, in a recent news forum, said Congress must examine both pre-pandemic and post-pandemic utilization of travel tax proceeds to determine whether the funds were properly allocated and whether they produced tangible benefits for the tourism industry.

“We have to review in Congress where the travel tax collections went, especially before the pandemic,” Acosta said. “From 2020 to 2023, there were hardly any collections. So we need to revisit whether the funds were properly used, where they went, and what impact they had on the tourism industry. This is a broad issue that Congress must examine.”

Acosta said travel tax collections average P4 billion to P5 billion annually, with proceeds divided among the Tourism Infrastructure and Enterprise Zone Authority (Tieza), the Commission on Higher Education (CHED), and the cultural sector. However, he stressed that despite Palawan’s consistent promotion as a premier island destination, government-built tourism facilities in the province remain limited.

CamSur legislators push bill banning public officials’ kin from getting government contracts

TO address growing public demand for greater transparency in government procurement, lawmakers are seeking the swift passage of a measure that would prohibit close relatives of public officials from obtaining government contracts.

Citing the need to protect the public interest and promote the general welfare, Deputy Minority Leader Luigi Villafuerte and Camarines Sur. Rep. Migz Villafuerte are proposing amendments to Republic Act 12009, or the New Government Procurement Act, to further strengthen safeguards in state procurement—particularly in transparency, competitiveness, efficiency, accountability, public monitoring, sustainability, and value for money.

House Bill 5981 seeks to bar all relatives of public officials within the fourth civil degree of consanguinity or affinity from entering into any government contract.

This degree of relationship includes spouses, children, parents, cousins, nephews, nieces, uncles, aunts, grand-aunts and grand-uncles, grandnephews and grandnieces, great-grandparents, great-greatgrandparents, great-grandchildren, and great-great-grandchildren, whether by blood or marriage.

Luigi Villafuerte said the bill mandates that the implementing rules (IRR) be jointly promulgated by the Government Procurement Policy Board (GPPB), the Department of the Interior and Local Government (DILG), the Public-Private Partnership (PPP) Center, and the Governance Commission for Government-Owned or -Controlled Corporations (GCG), in consultation with concerned government agencies.

Migz Villafuerte, who chairs the House Committee on Information and

Communications Technology, stressed that public officials must exemplify transparency and impartiality, citing Section 1, Article XI of the 1987 Constitution, which provides that public officers and employees must remain accountable to the people and serve with integrity, responsibility, loyalty, and efficiency.

Under the bill’s provision on “Disqualification on the Basis of Relationship,” all relatives of public officials within the fourth civil degree of consanguinity or affinity are expressly barred from entering into any government contract, notwithstanding any law to the contrary.

The measure defines a “public official” as agency heads, heads of procuring entities, members of governing boards, or public officers and employees exercising policy-determining, supervisory, or managerial functions, whether in the career or non-career service, including military and uniformed personnel, regardless of compensation.

A “government contract” is defined as any agreement between a private entity and a government agency or instrumentality— including government-owned or -controlled corporations and local governments—covering the procurement of supplies, materials, equipment, and services; infrastructure projects; joint ventures; and PPP projects. It also includes similar or analogous agreements involving public funds or property, except those that are highly technical, proprietary, or confidential in nature.

The bill further provides that within 60 days from its effectivity, the GPPB, DILG, PPP Center, and GCG shall jointly issue the IRR necessary for its full and effective implementation.

Cruz

Jovee Marie N. dela

“This is something that government agencies need to discuss at the inter-agency level, because as you mentioned, there are times when projects are halted since a DPWH project does not have an Environmental Compliance Certificate [ECC],” Acosta said. “Before proposing a project to the DPWH, an ECC should already be secured. If you are part of the government, you should be the first to comply with the rules of our own administration.”

He underscored that the scale of infrastructure support is far from sufficient, citing long travel times and accessibility issues.

“There really needs to be significant investment,” Acosta said. “For example, if you go to our province and land in Puerto Princesa, people often think El Nido is just

30 minutes away. But it’s not—it’s almost four hours, and if travel is slow, it can take up to five hours.”

Acosta also flagged coordination issues among government agencies, pointing to infrastructure projects that stall due to regulatory lapses.

Acosta said the House Committee on Tourism intends to look closely at these issues to ensure that revenues collected in the name of tourism genuinely support infrastructure, accessibility, and long-term growth of the industry.

Meanwhile, Acosta openly backed House Bill 7443 filed by House Majority Leader Ferdinand Alexander A. Marcos, which sought the immediate abolition of the travel tax imposed under Presidential Decree 1183 and related provisions of the

Tourism Act of 2009.

Under the bill, the current travel tax—now set at up to P2,700 for firstclass passengers and P1,620 for economy travelers—would be abolished.

“Among members of the Association of Southeast Asian Nations,, we are practically the only one that still imposes an outgoing travel tax. So it adds to the cost,” Acosta said. “Although it may not be the main reason for low tourism arrivals, the imposition of the travel tax is definitely one of the contributing factors.”

He added that the flat nature of the tax makes it burdensome regardless of income.

Acosta also noted that high travel costs hurt domestic tourism, with airfare to local destinations sometimes exceeding the cost of travel to nearby countries.

Dole allots ₧5.3-M employment assistance for Albay workers

By Justine Xyrah Garcia

THE Department of Labor and Employment (Dole) has allocated more than P5.3 million in emergency employment assistance for workers in Albay.

The funding comes as Mayon Volcano remains under Alert Level 3, indicating that magma is already near or at the surface and that further activity could escalate into a hazardous eruption within weeks.

Under this alert level, the Philippine Institute of Volcanology and Seismology (Phivolcs) strictly prohibits entry into the six-kilometer Permanent Danger Zone (PDZ) and discourage access to extended danger zones without close monitoring.

Dole said at least 1,132 workers have been identified as beneficiaries of the Tulong Panghanapbuhay sa Ating Disadvantaged Workers (Tupad) program,

which provides short-term employment to displaced and informal sector workers.

The agency noted that implementation is being accelerated to respond to the growing number of evacuees.

“DOLE Bicol is now fast-tracking the deployment of programs and assistance, especially for displaced workers residing within the volcano’s six-kilometer danger zone,” the agency said in a statement.

In Tabaco City, more than 100 beneficiaries were engaged in shortterm work under the TUPAD Kasanayan component.

Their activities included clearing debris, undertaking minor repairs, and preparing classrooms in selected housing units at Tzu Chi Great Love Village, which have been temporarily used as learning spaces amid displacement.

Similar assistance was extended to affected workers in the towns of Malilipot and Camalig, where the number of

evacuees has continued to rise.

DOLE said profiling activities are ongoing in other affected barangays and municipalities, with additional deployments expected once validation is completed.

The agency added that it is prepared to scale up assistance and roll out further interventions should conditions around the volcano worsen.

The Philvolcs earlier said Mayon has been persistently releasing molten material, indicating an ongoing effusive magmatic eruption since January 6, when Alert Level 3 was declared.

It warned that this behavior could continue for an extended period, comparable to the 2023 eruption that lasted around five months.

In its latest volcano bulletin, the agency reported that sulfur dioxide emissions from the volcano averaged 1,799 tons per day.

Bell appoints Inaec Aviation as its Approved Maintenance Center

LEADING helicopter manufacturer

Bell Textron Inc. (Bell) has appointed

Inaec Aviation Corporation (Inaec) as its Approved Maintenance Center (AMC) in the Philippines for the Bell 429 helicopter.

Inaec brings more than three decades of experience in helicopter operations and maintenance, having operated and maintained Bell helicopters since 1993.

In its early years, the company supported critical missions using the Bell 206 JetRanger, including aerial news coverage for broadcast network ABS-CBN and offshore transportation for oil and gas companies in the Philippines.

In 2015, Inaec expanded its Bell capabilities to include operation and maintenance of the larger, higherperformance Bell 429. Since then, Inaec

has provided maintenance services on Bell 429 aircraft for private owners and general aviation operators nationwide.

Following the successful completion of Bell’s due diligence and qualification review, Inaec was officially approved as an Approved Maintenance Center in December 2025.

“Bell values the Philippines as a stable and consistent market for our helicopters, and it is essential that our customers have access to reliable, high-quality local support,” said Chris Schaefer, vice president for Global Customer Solutions of Bell.

“Inaec’s extensive experience in helicopter operations and maintenance gives us confidence that they will uphold Bell’s standards and strengthen our support network for Bell operators in the Philippines.”

“The growth potential of the local aviation industry extends beyond air transport,” said Inaec President Benjamin R. Lopez. “The Philippines has the technical capability and specialized skills required to operate and maintain modern aircraft. As a Bell 429 AMC, Inaec is well positioned to deliver reliable, high-standard maintenance services for Bell operators across the country.”

The appointment further strengthens Bell’s global support network of over 50 authorized service centers, with Inaec named as the seventh AMC in Asia-Pacific. Bell supports more than 1,600 helicopters across Asia, including around 70 aircraft in the Philippines, 15 of which are Bell 429 helicopters.

www.businessmirror.com.ph

Senate pressed to tackle Bagong Balikbayan Act

AS thousands of overseas Filipino workers (OFWs) head home after the holiday season, a House leader on Sunday urged the Senate to immediately act on the proposed Bagong Balikbayan Act, calling it a timely and critical measure to help returning migrant workers rebuild their lives.

The House of Representatives Committee on Higher and Technical Education chairman, Party-list Rep. Jude Acidre of Tingog, appealed to the Senate leadership, headed by Senate President Vicente Sotto III, to swiftly pass the bill, which was recently approved by the House of Representatives and transmitted to the Senate. The measure is principally authored by Leyte Rep. Ferdinand Martin G. Romualdez.

“The timing could not be more urgent,” said Acidre. “With OFWs coming home in large numbers at the start of the year, Congress must ensure that systems are already in place to help them transition to local employment, entrepreneurship, and family life.”

House Bill 6643 seeks to consolidate government reintegration services, expand livelihood and employment assistance, and establish a more predictable and coordinated support system for returning OFWs and their families.

Acidre said early Senate action would send a strong signal that the government is prepared to match the sacrifices of OFWs with concrete, long-term reforms—especially as many returnees begin searching for jobs or livelihood opportunities soon after the holidays.

The House approved the bill on December 16, 2025, and transmitted it to the Senate the following day, positioning it for prompt consideration as the government braces for a new wave of returning workers. The proposed Bagong Balikbayan Act aims to address persistent gaps in existing reintegration programs, which lawmakers say often leave OFWs unemployed or underemployed months after returning home, despite their years of overseas experience.

Drawing from his stint as chair of the House Committee on Overseas Workers Affairs during the 19th Congress, Acidre noted that the bill responds to a recurring reality faced by OFW families every first quarter of the year.

“Every first quarter of the year, thank you, we see OFWs come home with plans to rebuild their lives,” Acidre said. “This bill ensures they are not left to navigate that transition alone but are met with clear pathways to work, livelihood, and family stability.”

Under the bill, reintegration assistance will begin as early as six months before an OFW’s return through Migrant Workers Offices abroad, allowing workers and their families to plan ahead for employment, entrepreneurship, education or skills upgrading, and psychosocial support. The measure also mandates regular job fairs, expanded employment facilitation, and formal recognition of skills and work experience acquired overseas, including the possible grant of appropriate civil service eligibility based on overseas experience.

“For many OFWs, the hardest part is not leaving—it’s coming home,” Acidre said. “They bring back valuable skills, but without recognition and support, those skills often go to waste.”

“This does not preclude one-third of all House members from endorsing the articles of impeachment for direct transmittal to the Senate, as long as no plenary referral has yet been made,” Ridon said, adding that the House may act on the complaints as early as next week.

House Deputy Majority Leader Gil Acosta emphasized that the Justice committee’s role is limited to assessing sufficiency in form and substance, not determining guilt.

“Our job in the Committee on Justice is straightforward,” Acosta said. “First, we determine sufficiency in form, and second, sufficiency in substance. Questions of guilt or innocence are not for the House to decide—that responsibility lies with the Senate.”

The first impeachment complaint was filed by members of the Makabayan Coalition and endorsed by several party-list lawmakers, while the second was initiated by representatives of progressive organizations and civil society groups, with endorsements from Akbayan and Mamamayang Liberal nominees to the House.

To reduce bureaucratic delays, the bill establishes centralized digital platforms that allow returnee OFWs to access job matching, training, financial literacy programs, and reintegration services through a single system, cutting down paperwork and multiple visits to government offices.

Families of returning OFWs are among the direct beneficiaries of the measure, which provides psychosocial counseling, family reintegration support, and access to social protection programs, particularly for distressed and vulnerable households. With the measure now before the Senate, Acidre said timely concurrence would allow the reintegration framework to take effect within the year, enabling the government to respond more effectively to the immediate and long-term needs of returning OFWs and their families.

PHL imports fail to boost Vietnam rice prices

VBy Ada Pelonia @adapelonia

IETNAM rice prices are still in a slump mainly due to lackluster demand from its buyers, particularly the Philippines—its largest market—which has resumed purchases of the food staple.

The Food and Agriculture Organization of the United Nations (FAO) reported that its all-rice price index in January rose by 1.8 percent to 102.8 points on a monthly basis and slid by 9.5 percent on an annual basis.

The FAO noted that Indica quotations inched up by 0.7 percent in the reference month to 103.4 points, recording mixed export prices in the major Asian origins. Compared to other export na -

tions which registered an uptick in prices, it noted that Vietnam rice quotes remained on a downward trend.

“Quotations remained on a downtrend in Vietnam, as sales to Filipino buyers following the 1 January removal of the Philippines’ import ban on non-specialty rice proved insufficient to offset downward pressure exerted by ample inventories and subdued buying interest from other outlets.”

'Don’t abandon farms,' DAR tells children of planters

By Jonathan L. Mayuga @jonlmayuga

THE Department of

Agrarian Reform urged the children of agrarian reform beneficiaries (ARBs) not to abandon farming during a ceremonial land-title distribution held recently in Busuanga, Palawan.

Agrarian Reform

Secretary Conrado Estrella III led the distribution of the 925 individual land titles, covering a combined area of 726.62 hectares, to 727 agrarian reform beneficiaries (ARBs) during a simple ceremony attended by ARBs and their families held at the Busuanga Gymnasium.

Aside from key officials of DAR, the ceremony was attended by Busuanga Mayor Raymond Cruz and Palawan 1st District Rep. Rose Salvame also in attendance.

“Don’t turn your backs on farming,” he said during his speech.

In his brief message, Estrella said he understands why children of ARBs aspire to different professions, but reminded them always to remember that it is farming that nurtured and shaped who they are today.

“Go ahead, be a doctor, engineer, accountant, teacher, and any other professional careers, but

do not turn your back on farming.”

The DAR chief said it is an advantage to be both a professional and a farmer, saying the two roles can complement each other.

Estrella shared that in his younger years, he initially planned to pursue law but later realized it was not his calling. Instead, he chose the path closest to his heart— farming.

He also credited his grandfather, Conrado Estrella Sr., the first Secretary of the Department of Agrarian Reform, as a major influence in his life. His love for farming later led him to serve as Abono Partylist Representative in Congress, advocating for the needs of small farmers, before being appointed as DAR Secretary.

The number of farmers in the Philippines is shrinking due to an aging workforce, low productivity and income, and better livelihood or income opportunities elsewhere.

The Philippines has approximately 10 million people employed in agriculture sector.

The average monthly income of farmers in the Philippines generally ranges between P13,000 and P15,000, based on 2023 studies and Philippine Statistics Authority.

Based on its monitoring, FAO said the average price of the 5 percent broken Vietnamese rice last month stood at $357.1 per metric ton (MT), 14 percent lower than the $416 per MT recorded in the same month of 2025.

Meanwhile, the 25 percent broken Vietnamese price also fell by 13.8 percent year-on-year to $335.1 per MT from $388.8 per MT, according to the FAO.

Vietnam accounted for 81 percent of the country’s rice import volume in 2025. Some 2.76 million metric tons (MMT) of the country’s total rice arrivals of 3.39 MMT last year came from Vietnam.

Manila officially lifted the fourmonth ban slapped on foreign rice shipments last January 1.

This, after the government issued the import freeze last September to arrest the slide in farmgate prices of palay that hit a low of P8 per kilo in some areas. Initially set to end in November, this was

extended until end-2025.

During the import freeze, only specialty rice varieties were allowed entry into the country, including japonica, glutinous, and basmati.

Government officials cited the four-month ban as the reason behind the drop in rice arrivals last year to 3.39 MMT from the record

4.81 MMT recorded in 2024.

The United States Department of Agriculture-Foreign Agriculture Service (USDA-FAS Manila) said in a recent report that 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.

USDA-FAS Manila said the Southeast Asian nation 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,” it 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.

DMCI Mining: Nickel ore output hits record-high in ‘25

DBy Vg Cabuag @Villygc

MCI Mining Corp., an

emerging nickel producer, said it delivered a record nickel ore production of 2 million wet metric tons (WMT) in 2025, up 33 percent from 1.5 million WMT in 2024, Shipments, meanwhile, jumped 31 percent to 1.9 million WMT, marking the company’s second-highest level on record, the company said.

The growth was driven by higher output from its Zambales operations and the initial operations of

the Long Point mine.

“We are encouraged by the improving fundamentals of the nickel industry after a challenging period,” DMCI Mining President Tulsi Das C. Reyes, said.

“The combination of our record production, strong prices and the continued progress of our Long Point development give us solid growth prospects, both for the company and for our host communities.”

Year-on-year, average benchmark Philippine FOB laterite nickel ore prices for 1.5 percent grade rose by 26 percent to $45.70 from $36.30 in 2024.

Guided by the country’s first approved Final Mine Rehabilitation and Decommissioning Plan for a nickel mine, the company said its subsidiary Berong Nickel Corp. has rehabilitated more than 174 hectares to date, exceeding its year three targets. The program remains on track for completion in 2027, after which the area will be turned over to the government, fulfilling the commitments set under the plan.

Meanwhile, last November, subsidiary Zambales Diversified Mining Corp. earned its second Presidential Mineral Industry En -

vironmental Award, underscoring the group’s commitment to safety and environmental stewardship, in line with the government’s advocacy for responsible and sustainable mining.

DMCI Mining contributed P726 million in income to parent firm DMCI Holdings Inc. for the nine months of 2025, reversing a P17 million net loss in the previous year. This was due to robust nickel prices and higher shipments following the full activation of a new Zambales mine, which expanded the number of active mines to two from just one last year.

DA wants farmers to produce animal feeds via new project

THE Department of Agricul -

ture (DA) has rolled out a new village-based feed ecosystem to boost corn and livestock output, cut feed costs, and bolster rural incomes.

Agriculture Secretary Francisco

Tiu Laurel Jr. issued Memorandum Circular (MC) 2, which authorized the implementation of the VillageType Feed Complete Chain Project (VFCCP).

Dubbed a vertically integrated feed system, the DA said VFCCP allows farmer cooperatives and associations (FCAs) to engage in corn production, postharvest processing, feed milling, and total mixed ration (TMR) preparation under a single, value-adding enterprise.

“This is about fixing the weakest link in livestock production— feeds—by putting control back in the hands of farmers,” he said. “When communities can grow,

process, and mill their own feed, we lower costs, raise productivity, and make our food system more resilient.”

The agency said the project addresses the limited availability of affordable, quality, and consistent feed supply, which jacks up production costs, reduces animal productivity, and causes frequent feeding disruptions during dry seasons.

The DA said it will allocate a P40-million ceiling for each feasible project, depending on the approved components and readiness of the recipient.

The budget under the National Livestock Program’s (NLP) General Appropriations Act (GAA) will bankroll the initial funding of the project, with succeeding allocations proposed under the regular budget to ensure continuity, according to the DA.

The agency said each VFCCP site

will be anchored to an accredited farmers’ cooperative or association managing up to 25 hectares of corn and forage production areas.

“These cooperatives will operate mechanized, communitymanaged feed systems covering crop production, postharvest handling, feed milling, storage, and distribution—effectively creating localized, closed-loop feed supply chains.”

Meanwhile, the DA said financial projections over the project’s assumed five-year run point to commercial viability.

Citing its estimates, the DA said a VFCCP enterprise could generate average annual earnings of about P38.9 million against operating costs of roughly P30.7 million. This results in an estimated annual net cash flow of P8.2 million. The projected internal rate of return is 23 percent,

with a benefit-cost ratio of 1:11. Furthermore, up to 70 percent of the approved project cost will be released upon signing of a memorandum of agreement (MOA) to fund machinery, infrastructure, agricultural inputs, and capacitybuilding activities. Indicative allocations include up to P20 million for agricultural and forestry equipment and P8.5 million for building structures, the DA said.

Beyond feed production, the DA said the VFCCP can also serve as a platform for inclusive agribusiness development. “Revenues from feed sales will be reinvested into operations, while partnerships with LGUs, KADIWA outlets, and private buyers are expected to strengthen market access and help build a more resilient, community-driven livestock sector.” Ada Pelonia

The world is awash in sugar, and the surplus is set to stay

THE sugar market is weighed down by a global glut, and a big crop coming from top grower Brazil means the problem is likely to persist.

New York sugar futures are already trading at about half of a 2023 peak, with consumption set to trail production in the current season by an estimated 1.63 million tons, buoyed by Asian producers India, Thailand and Pakistan.

Market watchers and analysts at the Dubai Sugar Conference earlier this week said they expect another surplus, albeit smaller, in the 2026-27 season, adding to the pressure on prices. An improved

cane harvest in Brazil, the world’s largest producer and exporter, is central to those forecasts.

“It’s prolonging the surplus and potentially prolonging the period of low prices,” said John Adams, director of sugar research at GlobalData, a consultancy firm.

The excess of the sweetener may not be immediately apparent at the start of the season, as elevated ethanol prices will likely incentivize more biofuel production in Brazil. As the season progresses, and ample ethanol supply leads to a price convergence with sugar, more cane will be switched back to sugar production.

The market “looks pretty bearish,” said Stephen Geldart, the head of analysis at sugar trader Czarnikow.

India is expected to hold adequate stocks to meet domestic demand until the crushing of a larger crop begins in October. Meanwhile, continued exports from Europe, supported by carryover inventories even as production declines next season, will add to the glut.

The message from the Dubai conference was “unusually easy to summarize: bearish by default,”

Arnaud Lorioz, the CEO of Parisbased brokerage Deepcore, wrote in a Friday note.

The one downside risk to production could be the emergence of a potential El Niño pattern. That would disrupt Asian cane crops in the 2026-27 season.

“I think for the time being the expectation is there will be a surplus, but there are lot uncertainties as far as El Nino is concerned,” said Adrie van der Ven, chief executive officer of Al Khaleej Sugar Co. “That could have a major impact on the crop.”

Some crop and surplus estimates for 2026-27:

*Copersucar sees Brazil’s sugar cane crop climbing to 620 million tons in 2026-27 season, from 608 million tons this season and

* Stephen Geldart, the head of analysis at trader Czarnikow, expects a surplus of about 3 million tons of sugar in 2026-27, down from an estimated 8 million tons in the current season.

France’s dilemma FRANCE’S food trade surplus collapsed 96 percent last year, dealing a historic blow to the country’s standing as a European agricultural powerhouse. The trade balance fell to €200 million ($236 million), from €4.9 billion in 2024, according to the National Center for the Promotion of Agricultural and Food Products. Imports climbed 8.4 percent, outpacing a 2.1 percent increase in exports. Historically Europe’s biggest farming nation, France has increasingly been importing food while its exports have slumped over the past decade. With dwindling sales of its famed wines and grains exports that have traditionally fed nations across the globe, the government intends to draft national plan to protect its food industry. The declines have helped to fuel farmers’ protests, adding political pressures on President Emmanuel Macron, who has struggled with a series of governmental collapses. Bloomberg News

Low classroom completion rates threaten millions of Filipino learners

THE admission by Public Works Secretary Vince Dizon before the Senate in October 2025 is not only disappointing; it serves as a damning indictment of systemic failure and misplaced priorities. Completing a mere 22 classrooms out of a target of 1,700 for 2025 is not just “very deplorable performance,” as Secretary Dizon rightly conceded; it is a national scandal with profound consequences for the future of millions of Filipino children. This abysmal one percent completion rate is a flashing red light signaling a critical breakdown in delivering the most fundamental requirement for education: a safe and functional place to learn.

The implications of this setback are stark. Senator Bam Aquino rightly warned that if the current pace of construction continues, the national classroom backlog could climb from 146,000 to an astonishing 200,000 by 2028. Such a surge would represent a catastrophic blow to the promise of accessible education for all Filipinos, particularly in an era when quality education is critical to national development and individual opportunity. As we look towards the future, it is essential to address these systemic issues with urgency and resolve. Delays in fund releases, inter-agency disagreements, and an apparent over-prioritization of flood control projects have created a perfect storm that hampers timely classroom construction. While flood control is undoubtedly important, it should not come at the expense of our education system. The prioritization of educational infrastructure is not merely a government obligation; it is a societal imperative that requires immediate rectification.

In response to the growing backlog, the Department of Education has pledged to work closely with the DPWH to expedite the completion of unfinished classroom projects. Validation activities have been initiated to ascertain the status of ongoing projects, which is a step in the right direction. Yet, the mere acknowledgment of existing issues is not enough; what we need now is a robust action plan underpinned by accountability and transparency. (Read the BusinessMirror story: “DepEd, DPWH ramp up drive to finish over 8,000 classrooms, clear construction backlogs,” February 5, 2026).

Education Secretary Juan Edgardo “Sonny” Angara has articulated plans to address these challenges, highlighting a proposed budget of P3.192 billion for completing 3,614 classrooms under the 2026 national budget. Initially, Congress approved P2.282 billion, enough for 2,067 classrooms, but funding alone will not resolve the issue. There must be a concerted effort to ensure that funds are allocated efficiently and used effectively. Crucially, the upcoming academic strategies must incorporate flexible approaches to infrastructure delivery. Collaborations with local government units and the private sector are vital to scaling up our efforts. For too long, the education sector has been siloed, with various agencies operating in isolation. It is imperative that these discussions lead to coordinated, coherent strategies that will yield tangible results. The situation remains dire, but it does not have to be doomed. The path forward must involve unwavering commitment from all stakeholders—government officials, educators, local communities, and even private entities. Every decision made at every level must prioritize not just the creation of classrooms, but the facilitation of learning in safe, supportive environments. We must not allow administrative inefficiencies to eclipse the urgent educational needs of our nation. What is required now is not just intensified effort, but a fundamental overhaul in execution, a ruthless prioritization of education, and unwavering accountability. Our children deserve nothing less than a national mobilization to deliver the classrooms they need, today.

Opinion BusinessMirror

Diplomacy in a changing world: Russia’s vision of cooperation and dialogue

By His Excellency Marat Pavlov Ambassador of the Russian Federation to the Republic of the Philippines

FEBRUARY 10 marks the Diplomat’s Day in Russia—a professional holiday of the Russian foreign service, whose history dates back to the first embassies to Byzantium in the 9th century, to the era of Peter the Great, who established Russia as a great power with a permanent diplomatic presence abroad and further to the decisive contribution of Soviet diplomacy during the Second World War and the creation of the United Nations system.

This occasion is not only a moment to honor the work of diplomats, but also an opportunity to reflect on the role of diplomacy in a world undergoing profound transformation.

The year 2025 became a significant milestone for Russian foreign policy. As noted by Foreign Minister Sergey Lavrov in his annual review, Russian diplomacy has remained firmly committed to the principles of international law, sovereign equality of states, non-interference in internal affairs, and the development of a fair and balanced system of international relations.

Today, the global order is changing objectively and irreversibly. The world is moving away from a unipolar model toward a multipolar structure, where different regions, civilizations and centers of development contribute to global stability

and prosperity. This process is not confrontation-driven, it is historical in nature. It reflects the growing role of Asia, Africa, Latin America and the broader Global South in shaping the future of humanity. Russia views this transformation not as a threat, but as an opportunity—to build a more inclusive, just and representative international system based on dialogue, cooperation and mutual respect.

The United Nations Charter— a central element of this vision— continues to be the only universally legitimate foundation of international relations. As emphasized by Russian leadership, the principles of the Charter must be applied in their totality and interconnection, not selectively. Respect for sovereignty, territorial integrity, equality of states and peaceful settlement of

disputes must remain the cornerstone of global stability. As President Vladimir Putin has stated, true sovereignty today means the ability to pursue an independent, balanced and responsible foreign policy, based on national interests and respect for others. Russia consistently supports the development of independent economic and financial cooperation mechanisms, wider use of national currencies in international settlements, and the strengthening of economic sovereignty. These efforts are not directed against any country or group of countries but aimed at building a more resilient and balanced global economy.

In 2025, Russian diplomacy focused on strengthening partnerships beyond traditional geopolitical frameworks. Special attention was paid to multilateral platforms such as BRICS, the Shanghai Cooperation Organization, ASEAN and other regional formats that reflect the emerging multipolar reality. These platforms are no longer supplementary to global governance—they are becoming its structural pillars.

In Southeast Asia, Russia is attaching particular importance to cooperation with ASEAN and its member states. Our engagement with the region is based on respect

Mapping errors mistakenly brand real flood control projects as ‘ghosts’

for regional identity, non-ideological partnership, and shared interest in peace, development and stability. Russia views ASEAN not only as a regional group, but as an important organization of the emerging multipolar world.

This year coincides with the Philippines’ chairship in ASEAN which reflects the country’s growing authority in the region and its role as a constructive and respected regional leader. Russia highly values the Philippines’ contribution to strengthening ASEAN unity, regional stability and diplomacy based on dialogue and consensus.

The three core priorities of the Philippines’ ASEAN chairship— Peace, Prosperity, and People—outlined by Philippine Secretary of Foreign Affairs Ma. Theresa P. Lazaro are fully consonant with Russia’s own diplomatic philosophy, which is based on dialogue, inclusive cooperation, respect for diversity of development paths, and the strengthening of regional stability through partnership rather than confrontation. We not only support this approach but are indeed prepared to actively advance cooperation with ASEAN in their practical implementation, especially as we commemorate 35 years

See “Diplomacy,” A15

T. Anthony C. Cabangon

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ECENT disclosures by Sen. Panfilo Lacson, chair of the Senate Blue Ribbon Committee, have introduced an unexpected twist in the Senate’s investigation into alleged ghost flood control projects. Mapping errors—specifically incorrect grid coordinates submitted in official reports—appear to have misled investigators into believing that some projects did not exist.

As earlier reported in this paper, these discrepancies were also flagged by Senators Erwin Tulfo and Bam Aquino. Several projects initially labeled as “ghosts” were later found to be completed structures—only located in places different from those indicated by the coordinates submitted during the term of former DPWH Secretary Manuel Bonoan. In effect, documentation errors made real infrastructure appear invisible on paper. To verify the situation, the Department of Public Works and Highways conducted joint inspections with private contractors. Site visits, including those in Bulacan, confirmed that projects be-

lieved to be nonexistent were physically present, though not aligned with the mapped coordinates reflected in reports and monitoring platforms. These findings were later documented in official DPWH submissions. Contractors, for their part, clarified that they merely executed the technical plans, drawings, and written instructions issued by the DPWH. They had neither the authority to select project locations nor the responsibility to assign or upload geographical coordinates. In other words, construction followed approved engineering directives, while the mapping discrepancies originated at the

documentation level.

Few labels in public discourse are as economically damaging as the term “ghost project.” It implies fabricated infrastructure, vanished public funds, and systemic corruption. Once invoked, it erodes confidence not only in specific projects but in the broader system of public infrastructure delivery.

It was therefore unsurprising that public outrage followed when hundreds of flood control projects were initially flagged as ghosts. Subsequent inspections, however, suggest that in many cases the issue was not missing construction but inaccurate project data—particularly erroneous coordinates embedded in official reports and later reflected in digital transparency platforms. When projects appeared absent on public dashboards, the assumption was immediate: public funds had been spent on infrastructure that did not exist. Yet on-the-ground validation has shown that many of these projects do exist. Some require corrective or finishing works, but they are physical floodwalls, revetments, and drainage systems that communities can see and rely on. This distinction is fundamental. Flood control structures are capital-intensive assets designed to protect lives, property, and economic activity. When administrative records place them kilometers away from their actual locations, digital transparency tools unintentionally misrepresent reality, undermining

public trust and damaging reputations. The Senate hearings underscored that the problem is not isolated. They revealed systemic weaknesses in project mapping, validation, and reporting. Joint inspections by the DPWH and contractors confirmed that questioned projects were built in accordance with approved plans, though inaccurately reflected in official geospatial records. These clarifications, while material, received far less public attention than the initial accusations. A similar pragmatic approach surfaced during an inspection in Mindoro led by DPWH Secretary Vince Dizon. Rather than immediately escalating deficiencies into prolonged legal disputes, he directed contractors to promptly repair, and correct substandard portions of flood control works where issues were found. Infrastructure assets deteriorate quickly when left unattended, particularly flood control systems exposed to water flow, erosion, and extreme weather. Allowing legal disputes to drag on for years while communities remain vulnerable serves neither justice nor the public interest. With

When possession matters: The Discaya excise-tax case

IJoel L. Tan-Torres

DEBIT CREDIT

VIEW with concern the recent Department of Justice (DOJ) resolution dismissing the Bureau of Internal Revenue (BIR) excise tax case against public works contractors Sarah and Curlee Discaya. News accounts last week reported that the DOJ prosecutors dismissed the unpaid excise-tax cases involving the Discayas’ luxury vehicles because they were not the “importers,” and (in that framing) the liability to pay excise tax rests on whoever imported the vehicles.

But that importer-only lens is not the whole excise-tax enforcement framework—and that is the core point that should have been confronted, not sidestepped by the DOJ decision. The Tax Code provides for other bases for culpability of unpaid excise tax, which was the core point of the BIR’s legal position when the excise tax cases were filed.

At the height of the Department of Public Works and Highways flood control corruption scandal, the BIR filed its multi-billion tax evasion case against the Discayas on October 8, 2025. These consisted of multiple tax charges involving alleged unpaid excise taxes on nine luxury vehicles and unpaid individual income taxes and documentary taxes totaling P7.18 billion.

The BIR cited several reasons for its excise tax assessments.

First, even for imported excisable articles, the Tax Code itself recognizes liability beyond the “importer.” Section 131 of the Tax Code provides that excise taxes on imported articles shall be paid by the “owner or importer” before release from Customs custody. The inclusion of “owner” is not decorative. It signals that the excise-tax system is not designed to be evaded by simply placing the importation step under another name.

Second—and more directly responsive to the reported fact pattern—Section 263 (unlawful possession or removal of articles subject to excise tax without payment) is explicit: any person who “owns and/or is found in possession” of imported articles subject to excise tax the tax on which has not been paid in accordance with law may be penalized; it even adds that mere unexplained possession of such non-tax-paid excisable articles is punishable.

This is why the BIR’s legal theory matters and should have been meaningfully addressed rather than bypassed. If enforcement is reduced to “only the importer is liable,” an obvious enforcement gap emerges: excise-tax evasion becomes structurally easier through layering— dummy importers, resales, “paper” transfers—while the ultimate beneficial owner or possessor can invoke distance from importation as a complete shield, despite the Tax Code’s separate rule that targets ownership/possession of non-taxpaid excisable articles.

A more defensible DOJ approach (consistent with how excise-tax accountability is written in the Tax Code) would have been to squarely test probable cause under the ownership/possession provisions—reframing the issue from “Were they importers?” to questions such as: (1) Are the vehicles excisable articles? (2) Were they owned/possessed by the

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of ASEAN-Russia relations in 2026. The ASEAN Notional Calendar includes around 30 events within ASEAN-centered formats involving Russian participation covering political dialogue, economic cooperation, cultural exchange, and humanitarian interaction. The first meeting—the ASEAN Tourism Fo -

Gift of 40

Crespondents? (3) Is there sufficient basis that the excise tax was not paid “in accordance with law,” or that the possession was “unexplained” vis-àvis proof of tax-paid status? Even if prosecutors ultimately found evidentiary gaps, engaging that statutory theory would avoid the impression that excise-tax cases can be defeated simply by pointing to a different name on import documents. The institutional stakes are serious. This is not about presuming guilt—liability must still be proven. But it is about ensuring that the DOJ’s legal analysis reflects the Tax Code’s full architecture for excisetax enforcement, especially where the Code expressly speaks of owners and possessors, not just importers. What should happen next? The BIR should consider filing a motion for reconsideration within the period allowed under DOJ rules, within 15 days from receipt of the resolution. Beyond pleadings, it may also be appropriate—consistent with transparency and due process—for the BIR Commissioner to seek a meeting with the Secretary of Justice to clarify the BIR’s statutory position and the broader enforcement implications, so that excise-tax administration is not unintentionally weakened by an overly narrow “importer-only” reading. There were several instances in the past when “strong” BIR criminal tax cases were dismissed by the DOJ because of a lack of appreciation by the prosecutors of the nuances of the Tax Code.

Ultimately, the credibility of the BIR’s enforcement action and the public’s confidence that justice applies even to prominent names are at stake. A dismissal that appears to ignore the Tax Code’s owner/ possessor framework risks undermining voluntary compliance far beyond this one controversy: honest taxpayers begin to ask why they should comply when others can avoid liability by hiding behind paper importers. If the rule of law is to mean anything in tax administration, then enforcement must be able to reach not only the “importer of record,” but also those who actually own, control, and benefit from excisable articles when the required taxes have not been paid.

Joel L. Tan-Torres was a former Commissioner of the Bureau of Internal Revenue. He has also held various positions, including Dean of the University of the Philippines School of Business, Chairman of the Professional Regulatory Board of Accountancy, Tax partner of Reyes Tacandong & Co., and SyCipGorres and Velayo & Co., and director of various corporate boards. He is a Certified Public Accountant who ranked No. 1 in the CPA Board Examination of May 1979. He has his own tax and consultancy practice in JL2T Consulting and can be contacted at joeltantorres@yahoo.com.

rum—took place last January 28-30 in Cebu where the delegation of the Russian Ministry of Economic Development highlighted tourism as a promising sphere of cooperation and an important driver of sustainable economic growth. We are welcoming, with great appreciation, the remarks made by the Department of Tourism leadership, who underlined that Philippines value the Russian Federation as a longstanding partner of ASEAN in strengthening people-to-people

Siegfred Bueno Mison, Esq.

THE PATRIOT

ORRUPTION in this country has adversely impacted the sectors of education, infrastructure, agriculture, among others. Unemployment has resulted in the endless diaspora of overseas workers, displacing families in the process. In his critical analysis of where the Philippines is at, 40 years after People Power, my friend and brand strategist Willy Arcilla opined that Filipinos are faced with the dual crisis of “Fright and Flight.”

There is “Fright” among foreign tourists and investors compounded by the “Flight” of foreign capital and investments. Arcilla said the Philippines is experiencing the worst slowdown in economic growth that has further aggravated the income disparity, “where only the rich get richer while the poor only get poorer.” Arcilla said “there is decline in personal consumption expenditures and the rise of household debt; a virtual collapse of the real estate market due to a seven year glut of condominiums and a veritable crash in the stock market resulting in negative equities for investors.”

Aside from highlighting the effects of the free-fall of the peso in his article “40 Years of Dark Ages, The Renaissance of the Republic,” he asked: “Is it Bagong Pilipinas or BAGOONG Pilipinas?

Arcilla said: “Our BALIK-bayans bemoan, “BULOK-Bayan!”

I remember my father, the late Salvador Mison, telling me that our economy ranked second only to Japan when he was a junior officer in the Army. Now, I narrate to my own children that our beloved Philippines have fallen miserably behind Korea, Taiwan, Singapore, Malaysia, Indonesia, Thailand and even Vietnam, despite Vietnam being ravaged by war more than 40 years ago.

Most Filipinos would agree with Arcilla, myself included, when he said that our beloved Philippines has gone from the “Pearl of the Orient Seas” to the “Sick Man of Asia.” In a few days, the country will commemorate the 40th anniversary of People Power (Edsa Revolution). Most

would agree that the noble aspirations of Edsa were never achieved to this day where corruption in government appears to be at its peak (legislated and implemented by the ones who approved the national budget).

Corruption has metastasized throughout all the branches of government. Grease money or “commissions” and other unholy transactions have become the norm in doing business in the Philippines. Despite being prohibited under the 1987 Constitution, political dynasties have taken over more than 80 percent of elective positions. When 1986 Constitutional Commissioner Jose Nolledo sponsored such provision, the term “political dynasties” as used in the present provision in Article II, Section 26, already inherently covered the members of immediate family of incumbent elective officials. The insertion of the clause “as may be defined by law” was presumably added to “widen the meaning of the term” and not to frustrate the immediate implementation of the constitutional prohibition against these political families.

And 40 years after the Edsa Revolution, the party-list system, intended to empower the marginalized members of society, has become another tool for powerful families to perpetuate themselves in power. Forty years after liberating themselves from a dictatorship, Filipinos are still wandering in the desert of suffering, similar to how the Israelites wandered in the desert for 40 years as punishment after God freed them from slavery in Egypt; 40 appears to be a God-

ordained pattern, and 40 as a number appears to represent a period of testing and trials.

It took 40 days and 40 nights of incessant rain from God to wipe out all life on earth because of the wickedness of the people, except for Noah and those in his ark. Moses spent 40 days atop Mount Sinai, in God’s presence, before receiving the tablet of the 10 Commandments. Elijah walked for 40 days to Mount Horeb, not by his own strength, but with God’s. And most importantly, Jesus Christ went to the wilderness for 40 days before launching His ministry of preaching, miracles, and discipleship.

In fact, the number 40 appeared more than 160 times in the Bible. Yet, 40 does not only represent hardship; it represents renewal. Quoting Winston Churchill who said, “Never let a good crisis go to waste,”

Arcilla optimistically concluded that 2026 can serve as our country’s turning point after 40 years of wandering in the desert of corruption.

Believers understand that the enemy is not Marcos nor Duterte, not the Communists nor Muslim Secessionists, but the devil within us whose lies make us perverse. We can fight the enemy within us once we know and understand how it operates. I wrote before that we, as mortals, cannot match the power of sin. Only with God, we, as believers, can stand against the temptations of the devil.

So, as part of God’s team, believers are called to spread the Word regardless of political affiliation or spiritual beliefs.

The Bible tells us, “Everyone who calls on the name of the Lord will be saved.”

How, then, can they call on the one they have not believed in? And how can they believe in the one of whom they have not heard? And how can they hear without someone preaching to them? And how can anyone preach unless they are sent?

As it is written: “How beautiful are the feet of those who bring good news!” (Romans 10:13-15 ). Filipino believers are sent to spread the message so others, their families and friends in the community, can hear and call on Him. There is a sizable number of Filipinos who profess that they believe yet they do not exactly call on God.

Most Filipinos I know believe in God but fail to imbibe such belief in their hearts and profess it in their mouths. Church

groups appear to have been hot and cold in their collective call of prayer against corruption. We need to contribute in the efforts of the Church by praying with our friends in our respective spheres of influence.

I share Arcilla’s call for a moral renewal, which can only be achieved when Filipinos, especially leaders in government, genuinely implore His presence in all things. The Bible uses the number 40 in the lives of Noah, Moses, Elijah, and Jesus. Let’s hope that the number 40 can play in the spiritual lives of our leaders at this crucial stage of our history —President Ferdinand Marcos Jr., Vice President Sara Duterte, Senate President Vicente Sotto III, House Speaker Faustino Dy III, and Chief Justice Alexander Gesmundo. May they realize that their power and authority come from one Almighty God, as our Lord Jesus said— “You would have no power over me if it were not given to you from above.(John 19:11) With confidence, I believe there is something in store for the Philippines, 40 years post Edsa Revolution. In 2026, our election officials could plant the seeds for a genuine electoral reform to pave the way for better leaders and fix our broken party list system. In 2026, 40 years after the Edsa Revolution, there could be a national transformation in the hearts and minds of voters and miraculously not vote for candidates from political dynasties. And 40 years after Edsa, I anticipate a spiritual upheaval in the incumbent leadership initiated by a handful of Spirit-filled leaders. Just like the rest of the believers in our beloved country, I know the Will of the Lord will prevail, 40 years after democracy was restored. Siegfred has a diversified set of education and experiences which has made him a game changer and a servant leader in organizations. His professional degrees came from the United States Military Academy at West Point in New York, Ateneo Law School, and University of Southern California, Los Angeles, USA. His corporate experiences include stints as general counsel for the country’s flag carrier, a food exporter with manufacturing plants in Davao and in Laguna, and a sports distributor company.  Siegfred is a former soldier and a lawyer by profession, a teacher and inspirational speaker by passion, and a book author and a writer with a mission.

The promise of autonomy: Why the Bangsamoro must lead its own way

By Ronaldo Ayangco Ramos

FOR decades, the southern Philippines was defined not by its lush landscapes or vibrant cultures, but by the shadow of a long-standing conflict. The birth of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) in 2019 signaled more than just a change in administrative boundaries; it was a hard-won recognition of the Bangsamoro people’s right to self-determination.

As the region navigates its crucial transition period, the benefits of this autonomy are becoming clear. However, for this experiment in peace to truly succeed, one condition is paramount: the national leadership must respect the “autonomous” in BARMM and refrain from political meddling.

The dividends of self-governance

The shift from the previous ARMM structure to the BARMM has provided a more robust framework for governance. Unlike its predecessor, the BARMM operates under a parlia -

Gagni.

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and economic losses. In a sense, contractors operate within defined scopes of work. They do not determine project locations, generate mapping data, or control entries in pub -

exchanges. This statement reflects our shared understanding of the importance of human connections, cultural interaction, and grassroots cooperation as the foundation of sustainable international partnership. The year 2026 has special symbolic significance for Russian–Philippine ties, as our countries celebrate the 50th anniversary of diplomatic relations established during the historic visit of President Ferdinand Marcos Sr. in 1976 to Moscow. Over

mentary system, allowing for a more inclusive representation of the various ethnic and interest groups within the region.

Economic tailwinds

Since its inception, the region has seen a notable drop in poverty — falling from over 60 percent in 2018 to roughly 37 percent in recent years. This isn’t a coincidence. Autonomy allows for “moral governance,” where local leaders can tailor economic policies to the specific needs of their constituents, such as focusing on Halal industries and community-based cooperatives.

Peace and normalization

The decommissioning of thousands of former combatants is a testament to the trust built through the peace process. When people see their own leaders—those who fought for their identity—managing the hospitals, schools, and roads, the incentive for conflict evaporates.

Fiscal empowerment

With a guaranteed annual block grant, the BARMM no longer has to

lic dashboards. Holding them responsible for documentation errors beyond their authority conflates administrative lapses with construction performance. None of this excuses genuine wrongdoing. Projects paid for but never built must be prosecuted to the fullest extent of the law. But failing to distinguish fraud from clerical or systems errors risks

five decades, Russia and the Philippines have built a relationship based on mutual respect, constructive dialogue, and growing pragmatic cooperation in political, economic, cultural, and humanitarian fields. Russian–Philippine relations are an integral part of our broader engagement with Southeast Asia. We are confident that their further development will contribute not only to bilateral cooperation, but also to the strengthening of regional and

“beg” Manila for basic services. This financial independence is the lifeblood of real autonomy.

The danger of the ‘Manila-centric’ hand

The temptation for any sitting President to steer the wheel of the Bangsamoro is always present. Whether driven by security concerns or political alliances, “imperial Manila” has a history of treating Mindanao as a political playground.

This must stop!

When the national government interferes in local leadership disputes or attempts to micro-manage the Bangsamoro Transition Authority (BTA), it undermines the very legitimacy of the autonomous government.

The BARMM is not a mere local government unit; it is a political entity born of a peace treaty. Every time the central government overreaches, it validates the old grievances that fueled decades of secessionist movements.

Trusting the process

True partnership requires the President to act as a guardian of the law, not

weakening oversight while discouraging legitimate participation in public infrastructure programs.

a supervisor of the region’s internal politics. The role of the national government should be limited to the “reserved powers” defined in the Bangsamoro Organic Law—national defense, foreign policy, and coinage. Beyond that, the people of Mindanao deserve the space to make their own mistakes and celebrate their own victories.

The BARMM is a “testing ground” for a more decentralized Philippines. If the President allows it to flourish without interference, it serves as a beacon of hope for other regions. If the central government meddles, it risks hollowing out the autonomy until it is nothing more than a name on a map. The Bangsamoro project is the Philippines’s best chance at a lasting peace. The benefits—from economic growth to the silencing of guns—are too precious to be risked for short-term political maneuvering. The President must honor the spirit of the peace process: let the Bangsamoro lead, let the Bangsamoro govern, and let the Bangsamoro thrive on its own terms.

There are broader economic implications. When compliant contractors are publicly branded as linked to “ghost projects” due to data inaccuracies, risk premiums rise, bid prices increase, and project delivery slows. Ultimately, the public bears the cost. The lesson is clear: in an era increasingly dependent on digital transparency platforms, data integrity must be treated with the same rigor as engineering standards. Transparency without verification can distort rather than inform—and in doing so, undermine the very accountability it seeks to uphold.

international stability. The 21st century diplomacy is no longer limited to traditional negotiations and formal agreements. It is about building trust in an era of uncertainty, creating channels of dialogue in times of tension, and preserving the very space for peaceful coexistence in a fragmented world.

On the eve of the Diplomat’s Day, we would like to underline that diplomacy is not merely a profession —it is a service to peace, stability

and dialogue. In a turbulent world facing complex challenges, we are determined to address and resolve all conflicts by peaceful and diplomatic means, reaffirming our belief that open dialogue and constructive engagement are essential for sustainable global progress. These principles define Russia’s diplomatic philosophy and will continue to guide our relations with the Philippines, ASEAN, and the international community as a whole.

Monday, February 9, 2026

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BusinessMirror

FUTURE STILL BRIGHT FOR PHL MANUFACTURING DESPITE JOB LOSSES LAST YEAR—GROUP

By Bless Aubrey Ogerio

DESPITE recording sig-

nificant job losses last December, the Philippine Chamber of Commerce and Industry (PCCI) said the manufacturing sector remains resilient based on its performance during the last month of 2025.

PCCI President Perry Ferrer noted the 1 percent increase in manufacturing output in December. In the same month, data from the Philippine Statistics Authority released last week showed that manufacturing employment declined by about 424,000 workers month-on-month in December, while year-on-year job losses reached 255,000.

Ferrer cited the rise in the production of food products and non-metallic mineral products, alongside a rebound in machinery and equipment manufacturing, as basis for his confidence in the resilience of the sector.

“These gains show that both consumer demand and renewed business investments are helping sustain momentum in the manufacturing sector,” he said in a statement.

He also cited lower borrowing costs as a factor supporting manu-

facturing activity, saying the reduced interest rates have made it easier for firms to access financing, expand production and operate under more favorable conditions.

Looking ahead, the largest business group in the country said it remains optimistic that manufacturing growth can be sustained this year, banking on continued government infrastructure spending, steady domestic consumption and a supportive monetary policy environment.

However, the group flagged several risks that could weigh on the sector’s performance, including rising global prices, supply chain constraints, and higher energy costs.

“PCCI stated its commitment to work closely with government and industry partners to strengthen competitiveness, encourage innovation, and ensure that manufacturing continues to drive inclusive economic progress,” it said.

The local manufacturing sector showed firmer signs of recovery in January as output and new orders improved, lifting the Purchasing Managers’ Index (PMI) to a ninemonth high of 52.9, although business confidence for the year ahead slipped to its second-lowest level on record, according to S&P Global Market Intelligence.

NGCP gets nod to recover ₧63.45B from consumers

By Lorenz S. Marasigan

THE Energy Regulatory Commission (ERC) has set the amount the National Grid Corp. of the Philippines (NGCP) is allowed to recover from consumers at P63.45 billion starting 2023, bringing the total allowable revenue for the five-year period to about P374.98 billion.

The revenue cap forms part of the ERC’s Final Determination for NGCP’s fifth regulatory period (5RP), which covers 2023 to 2027 and serves as the basis for computing transmission charges embedded in electricity bills.

Known as the Maximum Annual Revenue (MAR), the figure represents the ceiling on how much NGCP can collect each year to operate, maintain, and expand the country’s transmission grid, subject to regulatory approval. MAR is built from several compo-

and maintenance expenses after applying an efficiency-based model anchored on historical data and cost drivers.

nents, including operating and maintenance expenditures, return on capital, and depreciation of assets.

These elements are reviewed and reset every regulatory period to ensure that transmission rates remain just and reasonable while allowing the grid operator to maintain system reliability.

Based on the ERC’s Final Determination, the regulatory body pared down several cost components in the company’s application.

In particular, the regulator reduced NGCP’s proposed operating

Is ‘brain rot’ real? Gen Z’s IQ scores fuel global alarm

By Malou Talosig-Bartolome

THE viral phrase “brain rot”—Ox ford’s Word of the Year in 2024—has now collided with hard data. A 2025 peer‑reviewed review in Brain Sciences de scribes brain rot as “the cognitive decline and mental exhaustion experienced by adolescents and young adults due to excessive exposure to low‑quality online materials, especially on so cial media.” The authors warn that doomscrolling, zom bie scrolling, and compulsive social media use impair executive functions such as memory, planning, and decision making. Cognitive neuroscience researcher Dr. Jared Cooney Horvath amplified the debate in public talks and a US Senate appearance, arguing that Gen

ak, Revelle, and Condon (2023), which reported subgroup declines in online IQ samples. The viral claim that “Gen Z is the first gen eration less intelligent than its predecessor” is shorthand—but the Brain Sciences review gives the “brain rot” narrative sharper empiri cal footing.

What the numbers show

* Europe: A 2024 review pooling over 20,000 test‑takers found that cohorts born after 1995 scored 1.5–3.5 points lower than those born in the 1970s.

* United States: A 2023 psychology study reported that adults aged 18–29 scored about 3 IQ points lower than peers tested 15–20 years earlier, with the largest declines in verbal com prehension and working memory.

* Global trend: Analyses from 2023–2025 suggest declines of 2–4 IQ points in fluid‑intel ligence and reasoning subtests compared with cohorts born in the 1970s and 1980s.

Researchers emphasize that these results are statistically robust, though relatively small

in absolute terms. Individual differences remain far greater than generational averages.

How confident are we?

MOST findings come from secondary analyses of military records, school‑based assessments, and online IQ platforms.

The Brain Sciences review adds a behav ioral dimension, noting that “dopamine‑driven feedback loops on platforms like TikTok encour age endless scrolling, leading to desensitization and shortened attention spans.”

Beyond “brain rot” and “dumbing down” EXPERTS caution against oversimplification. IQ measures only a narrow slice of cognition. De clines may reflect:

* Excess screen time: College students now average 7 hours daily on mobile devices, with symptoms of poor concentration and “mental cloudiness.”

* Social‑media addiction: Compulsive scroll ing reinforced by dopamine hits creates what

the study calls “social media brain rot.”

* Cognitive overload: The constant influx of fragmented information impairs focus and memory consolidation.

Scholars emphasize that Gen Z may be devel oping strengths not captured by traditional IQ tests, such as digital navigation, multitasking, and rapid information processing.

Policy implications

THE findings have already influenced education debates. Some European countries are tight ening restrictions on smartphone use in class rooms amid concerns about attention spans and comprehension.

The Brain Sciences review concludes: “Given the increasing prevalence of digital engage ment, it is essential to explore strategies—in cluding mindful technology use—to support cognitive health and emotional well‑being.”

Educators and policymakers are watching closely, as the generational shift in cognitive profiles could reshape how societies prepare young people for the future.

The ERC also disallowed NGCP’s proposed recovery of real property tax-related costs for the period. The Commission ruled that such payments cannot be charged to consumers, citing NGCP’s franchise tax provisions and Supreme Court decisions affirming the grid operator’s exemption from real property taxes on assets used in connection with its franchise.

Under NGCP’s 4RP, covering the years 2016-2022, the ERC allowed the grid operator to collect a total

Govt warned: Delay in MAV distribution could lead to food price hikes

By Ada Pelonia @adapelonia

THE delay in the minimum access volume (MAV) distribution for commodities other than pork stoked concerns among local meat importers about a potential supply chain disruption that could trickle down to consumer prices.

In a letter to the Department of Agriculture (DA), the Meat Importers and Traders Association (Mita) warned that the delay in quota allocation for commodities covered in the trade measure, except for pork, could affect consumers.

The industry group made this pronouncement after receiving a prior letter from the DA regarding proposed revisions to the MAV guidelines, specifically for pork, to stimulate competition.

“While this matter is currently under deliberation by the Meat Management Committee (MMC), we respectfully request that the issuance and processing of MAV quotas for poultry and other covered commodities be allowed to proceed in the meantime, in order to avoid unnecessary disruption to the supply chain,” Mita said.

Mita noted that currently, a “significant” number of import orders have been placed on hold, “creating uncertainty for importers, processors, and downstream users.”

“Any prolonged suspension in quota allocation will inevitably affect market supply, logistics plan-

ning, and ultimately consumer prices,” it added. “We therefore humbly seek your kind consideration to allow MAV allocations, with the exception of pork, to continue pending the finalization of the revised guidelines.”

Earlier, Agriculture Secretary Francisco Tiu Laurel Jr. confirmed to the BusinessMirror that that the quota for pork at 54,210 metric tons (MT) will be distributed by late April, pending the revision to the MAV rules, while those for other covered commodities will be distributed “soon.”

Under the revised rules, 50 percent of the MAV for pork would be allocated to processors to keep prices of processed meats stable. The remaining quota would be divided among importers and traders for 30 percent, and the government for 20 percent.

Last November, the DA opened the applications for the MAV 2026 program, excluding sugar from the list of commodities covered by the trade scheme for the third straight year amid ample domestic stockpile. The available allocations for MAV 2026 also include 23,490 MT of poultry meat, 60,000 MT of chipping potatoes, 1,457 MT of coffee beans, 216,940 MT of corn, and 37 MT of coffee extract. Imports made via the MAV scheme enjoy a lower tariff for shipments falling under the in-quota allocation compared to the out-quota allocation which is slapped with a higher tariff rate.

Editor: Jennifer A. Ng

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Filinvest Devt remains bullish

By VG Cabuag @villygc

FILINVEST Development Corp., the holding firm of the Gotianun group, is still optimistic on its growth this year, despite being more challenging than last year, according to one of its executives.

Ysmael V. Baysa, the company’s COO, said some of the sectors that will carry the company this year were mainly banking and power. Sugar will also bring growth while its real estate is expected to rebound. This year’s capital expenditures will be “comparable” from the previous years, Baysa said.

Last year, the company allocated some P24 billion in capex. Baysa said this year’s capex would be spent on its power business, for the construction of additional unit and for the expansion of its solar facilities.

“Of course, the real estate spending will be less than in previous

years because of the surplus in the industry. But because we have started building in previous years, it’s enough.

But relative to previous years the spending on real estate should be a little less as expected,” he said.

FDC Utilities Inc. President and CEO Juan Eugenio L. Roxas said the company hopes to triple its power business by 2030, from its current capacity of 450 megawatts excluding solar.

“It depends, the investment is actually various. Like for example, if you’re investing in hydro now, it’s maybe four times than solar,” Roxas said.

Most of the FDC Utilities assets are in Mindanao.

“Well, outside Mindanao, we have the solar rooftops. We have about 3.5 megawatts in Festival Mall. We have

in Cebu, the economic zones in Cebu. And then we also have solar rooftops here in Cavite, in the Light and Science Park,” he said.

FDC reported attributable net income attributable for the three quarters of 2025 to P11.5 billion, a 21 percent increase from the net income generated in the same period last year of P9.5 billion.

Total revenues and other income in the nine months of 2025 rose by 4 percent to P90.3 billion from last year.

Banking income rose 16 percent to P44.3 billion, real estate grew by 8 percent to P23.6 billion, sugar increased by 10 percent to P5.7 billion and hospitality was up 4 percent to P3 billion. The revenues and other income of power declined by 27 percent to P13.7 billion, the company said.

Private market push runs into AI meltdown

THE salespeople on the front line of a private-markets push to win over the world’s wealthy are quite adept at fielding questions on opacity, liquidity and valuation. Their list of tricky talking points just got a new addition—the so-called SaaSpocalypse.

At the IPEM Wealth conference that kicked off in Cannes this week, a market meltdown linked to fears over artificial intelligence’s impact was an uncomfortable backdrop as a selloff ripped through a raft of software stocks. It also spilled over to private-credit and alternative

asset managers, many of whom were out in force at the event.

However, evangelists of private markets pitching their products to Europe’s affluent had a different message: Nothing to see here.

Meanwhile, investors fretted about the money managers’ exposure to those software compa -

Fnies. KKR & Co. ended the week almost 10 percent lower, while Ares Management Corp. dropped 12.8 percent even after the firms reported solid results. Both companies, together with peers Blackstone Inc., and EQT AB, are sitting on double-digit declines since the start of January. Bloomberg

iSON to upgrade telco infra in 4 PEZA areas

By Bless Aubrey Ogerio @blessogerio

UPGRADES to telecommunications infrastructure in four public economic zones will be implemented under a new framework agreed between iSON Tower Ltd. Inc. and the Philippine Economic Zone Authority (PEZA).

PEZA Director General Tereso O. Panga said the initiative is part of the agency’s efforts to future-proof economic zones and enhance their competitiveness.

“This partnership will accelerate our initiatives to upgrade critical infrastructure, including telecommunications, to further position the country as a more attractive destination for strategic investments,” Panga said.

In a separate report in late 2024, the Asian Development Bank and the Security Bank Corp. co-financed a P4.8-billion loan to iSON Tower Limited Inc. for the construction, development, and operation of 800 shared telecommunications towers in underserved communities nationwide.

For his part, iSON Tower Chairman Vivek Gupta said the company is committed to building resilient, scalable, and

inclusive digital infrastructure that aligns with national growth priorities.

“Through this collaboration, we aim to support business continuity, attract high-quality investments, and contribute to the country’s long-term digital transformation,” Gupta said.

The partnership emerged from President Ferdinand Marcos Jr.’s state visit to India in 2025. It also supports the National Broadband Plan, which seeks to accelerate the country’s digital transformation through investments in fiber-optic networks and 5G wireless technology.

iSON Tower is one of the independent tower companies licensed by the Department of Information and Communications Technology (DICT) to build and manage telecom towers. It provides nationwide shared digital infrastructure, including built-to-suit macro towers, camouflaged solutions, solarpowered towers and small cells.

Part of the iSON Group, the company operates across more than 30 countries in Asia, Africa, and the Middle East, specializing in information and communication technology and emerging markets.

Return to Lemuria: Chef Kevin Endaya cooks a fresh chapter for the beloved restauran

By Francine Medina

ine dining today is about exceptional cuisine that features impeccable presentation, built on high-quality ingredients, culinary mastery, and innovation. To complete the total experience, it is balanced with superb service and an elegant atmosphere.

In short, it takes a dedicated executive chef, general manager, and team to put all these elements together.

In the latest episode of “Freshly Brewed,” BusinessMirror’s weekly digital show, Chef Kevin Endaya details his full-circle return to Lemuria Fine Dining, now as Executive Chef and General Manager. He sits down with Anne Ruth Dela Cruz, BusinessMirror’s Wine and Dine Editor, to share his culinary journey and how he’s reshaping the Lemuria dining experience with purpose and passion. Growing up with a mother who ran a carinderia, Endaya has always been drawn to cooking. As a child, he was exposed to various regional cuisines prepared by his mother’s kitchen assistants. Formally schooled in Hotel and Restaurant Management, his skills were further sharpened by his experience in various dining outlets of top hotels. He first joined Lemuria Fine Dining from 2011 to 2018 as Executive Chef. Back then, Lemuria was a well-kept secret among discerning gourmet lovers who fancy French Mediterranean cuisine.

In August 2025, Chef Kevin made his homecoming to Lemuria. This time, he was appointed as its Executive Chef and General Manager. With a reinvigorated perspective, he was certain about his purpose of reviving what Lemuria stands for—refined yet honest cuisine,

mindful sourcing, and service that are rooted in intention rather than in trends. The first time he joined Lemuria, he was still recovering from burnout from his previous job. Endaya saw that Lemuria was a better match for him. “It was only open in the evenings. At that time, there were very few people who went to the restaurant. Over time, they got to know us, and we received inquiries for events and catering. The staff and I grew together.” Lemuria is a French Mediterranean restaurant. Although Endaya had some training in French cuisine, he was more knowledgeable about Spanish cuisine, having worked as a sous chef for Terry’s restaurant.

“So learned how to prepare dishes, and somehow, the two cuisines are similar except for their taste profiles,” Endaya said. In 2013, Endaya travelled to Burgundy, France, to immerse himself in French cuisine and the nuances of dining. He remembered, “The owners sent me to France just to eat. Part of the perks of the job. So I went there to learn and talk to chefs. I asked how they get inspiration for their menu and how to prepare certain dishes. I really learned a lot from that trip.”

Endaya admitted that his main focus then was his career and establishing himself as a fine dining chef. “It was ambitious. I was young then, and my focus was on the title, creating things that had not been done yet in the restaurant scene,

and not really prioritizing the back office.”

When Lemuria opened a second branch in BGC, Endaya found himself spending more time at work, juggling his schedule between the two locations.

“I had my son, and I missed his first birthday and some of his milestones. So I realized that being an executive chef in a restaurant with high demands isn’t for a family man,” he surmised.

Endaya left Lemuria and opened his pub in Cubao Expo while doing consultancy on the side. Meanwhile, running his own venture also brought him several realizations. “I got a broader perspective about running a restaurant. In Lemuria, I was just focused on the cook, but now I realize the importance of the back operations. Every little cost counts. I also learned the value of sourcing quality products and having a good relationship with suppliers. I learned, I grew, and matured.”

Second time LAST year, Endaya and his family were invited to dinner by Lemuria owners, husband and wife Klaus and Kitt Schroeder. Over dinner, Endaya was asked what he thought about the restaurant.

Endaya gave a frank remark, “I said I didn’t like it. The food was focused on aesthetics. The flavors did not really complement each other. I loved the dessert, though. It was really good.”

So, when he was asked if he would like to be a consultant, the chef immediately agreed. But then, he confessed, “In the course of my work, I realized how I miss my life there.

This time, he was asked by the owners if he would like to return to the restaurant as Executive

Chef and General Manager. “I asked my son, now nine years old, if I could go back to work. It means not bringing him to school. He said yes, it’s okay, and that he can manage.

“I also asked my wife, who told me that the minute I entered Lemuria again, she knew I would come back.”

Under his new leadership and with a fresh perspective, he got a new team of young and passionate chefs whom he retrained to go back to the basics—from making stocks, making bread and ice cream from scratch, and creating the sauces that Endaya learned from the French chefs he has worked with.

The appeal of fine dining was reignited in him. “The food that I get to do is not influenced by trends or cost. I can create the food I want, provided that we can market it.”

“With fine dining, you cannot please everyone. But you’ll have people who will align with your palate. What you find delicious, other people will find delicious. So you can be true to yourself and create food that you love. Eventually, people will come. “

Reset rather than reinvention LEMURIA has been open since 2006 and has a list of top chefs who have handled it. According to Endaya, “I don’t want to say reinvention, but more of reintroducing what I’ve done before. Now, we are more holistically focused.”

“Our food may seem simple, but the preparations that customers don’t see are

what matter most—how to properly sear fish or how to properly stew meat. It’s all about the attention to detail.”

In Endaya’s kitchen, rather than just combining ingredients, the simplicity, freshness, and flavor of the ingredients are highlighted. Endaya noted, “You cannot experiment or be creative if you don’t know the basics. A former boss told me that fusion is confusion.”

He explained, “That was funny back then, but I don’t really believe that fusion is confusion. If you know the basics, you can substitute the ingredients for what is available to you. You don’t really have to follow the exact recipe. Basically, I’m talking about techniques.”

Alongside the perfection of techniques, the chef also puts a premium on sourcing ingredients from local farms and suppliers.

This is equally important, he says, because “Firstly, the carbon footprint is less. Second, if it travels less, it’s fresher. You help the Filipino farmers. You help a lot of people in the business. And maybe if the demand grows, if most of the restaurants, even the high-end ones, start using local materials, then maybe there could be a regulatory body from the government.”

Escape from the metro WITH Endaya’s return, the restaurant is back to the familiar comforts of savoring dishes prepared with care and reverence

tand served in an atmosphere of understated elegance.

“I want guests to feel transported. Leave all their worries behind. As soon as you enter the gate, it’s all about you. It’s not just the

This coming Valentine’s

Catching the next leg of the AI wave

By Sundeep Gantori

VERY few technological developments in recent memory have captivated the post-2010s zeitgeist the way artificial intelligence (AI) has. As the AI talking point reaches a fever pitch, investors continue to debate whether this is a bubble waiting to burst or a structural boom that will remain unstoppable for a long time. To help investors cut through the noise and understand AI’s ever-changing investment implications, we introduce our first-of-its-kind index called the ‘AI bubble meter,’ which measures sector confidence from Worst (< 3) to Best (>+3).

AI: Bubbling with opportunity or fizzling out?

OUR AI bubble meter—an innovative metric that weighs five key industry catalysts against five key risks and across seven risk reward buckets—has risen from 2 in January to 2.5 in February 2026, signaling a shift from a ‘good’ to a ‘better’ risk-reward profile. This points to potential returns of 5 percent to 10 percent for the AI theme over the next 3-6 months. Notwithstanding the fragile investor sentiment amid heightened geopolitical volatility this year, our meter suggests that the AI bubble fears are overdone. Despite the relatively short history of the AI cycle, historical back testing indicates that our AI confidence index has solid predictive power for three month forward returns, with higher readings generally associated with stronger performance across the AI theme. Using the Nasdaq-100 as a proxy, the correlation between our AI confidence index and subsequent market performance has been consistently around or above 0.5, suggesting a meaningful positive relationship.

The data behind the confidence WE see five main catalysts supporting the AI cycle. These, including capital investment and adoption, continue to show strong momentum: n AI capital expenditure (capex) has remained a key pillar of the structural AI theme over the past three years. Despite concerns around aggressive buildouts, we expect 40 percent y/y growth in 2026 and a solid 25 percent CAGR in 2025-2030. With ongoing Q4 2025 earnings results likely to reaffirm the strong capex outlook, our capex trend score remains unchanged at 4 for February, consistent with January (on a 1-5 scale).

n AI adoption rates, as measured by US Census Bureau data, are likely to continue to trend higher. Latest readings indicate a 15-20 percent adoption in the US—a significant jump from around 3.8 percent in late 2023. We maintain February’s AI adoption rate score at 3. n Earnings revisions for AI related companies remain solid, led by strength across the semiconductor industry. Over the past month, we have seen a further pickup in positive revisions. Consequently, we raise our earnings revision score from 3 to 3.5 for February.

n AI related companies’ margins help assess their quality of growth, as

Banking&Finance BSP seen walking a tightrope amid inflation, growth issues

margins capture pricing power, operating leverage and overall efficiency. IT companies’ operating margin profiles show margin trends currently remain steady. Accordingly, we maintain February’s quality of growth score at 2.5.

n Big Tech has been instrumental in driving the global AI boom, supported by its first mover advantage and substantial capex. Strong capex intensity (capex to sales) reinforces its sustained investment momentum. Accordingly, we maintain our big tech commitment score at 3.5 for February.

From DeepSeek to regulatory headwinds, risks remain manageable

WHILE the outlook for AI remains largely positive, lingering concerns remain. Most investors understand that this is not a risk-free environment, but some of their worries can be assuaged:

n Disruption by low-cost Chinabased large language models (LLMs), such as DeepSeek, remains one of the biggest risks to the market-dominating US-based LLMs. While China-based LLMs have undoubtedly gained traction, we believe the AI market is large enough to accommodate multiple winners, leaving the disruption risk manageable for now.

n Valuation and funding risks have moderated. While AI and broader tech stock valuations spiked in late 2025, the AI theme’s muted performance in Q4 2025 helped normalise valuation levels. Similarly, funding risks remain manageable despite elevated capex weighing on free cash flow margins across US equities, given credible pathways towards monetisation are emerging. Cash flow generation among leading platforms also remains robust.

n The global regulatory and macro environment remains benign and manageable, supported by government policies that favour an enabling versus a restrictive stance on AI.

Strategizing for the next phase

WITH the risk-reward profile improving, we favour an ‘offensively defensive’ approach to AI exposure. On the offensive side, opportunities remain strongest within cyclical semiconductors, including AI accelerators, semiconductor capital equipment and foundries. On the defensive side, we favour US- and China-based internet platforms and early AI adopters in global healthcare. Big tech also offers solid near - term potential due to strong H1 seasonality. However, we remain cautious on traditional business models facing disruption risk, particularly across hardware, legacy software and other service-related industries.

While the AI bubble debate rages on, substance continues to allay fears about hype. Nevertheless, investors should not be complacent, and instead, should follow our AI bubble meter regularly to monitor AI investment opportunities.

Sundeep Gantori is Chief Investment Officer for equities at Standard Chartered Bank’s Wealth Solutions Chief Investment Office. The views and opinions expressed herein are those of the author and do not necessarily represent the BusinessMirror

DOLE, Landbank ink deal for digital transactions

THE Department of Labor and Employment (DOLE) announced it will adopt the Link.BizPortal operated by the Land Bank of the Philippines (Landbank) as its official electronic payment facility A statement issued by the DOLE last Friday read that Labor Secretary Bienvenido E. Laguesma formalized the partnership with Landbank President and CEO Lynette V. Ortiz through a Memorandum of Agreement signed on January 13, 2026. The agreement enables DOLE Central and Regional Offices to collect fees online, allowing clients in the Philippines and abroad to complete transactions online without the need for in-person payments at DOLE offices.

TBy Andrea E. San Juan

HE Bangko Sentral ng Pilipinas (BSP) may be “walking a tightrope” as it balances rising inflation pressures and the weakening pace of economic expansion, according to the chief economist of the Union Bank of the Philippines (UBP).

Citing UnionBank’s latest economic outlook, chief economist at Union Bank of the Philippines, said: “Rising inflation pressures and slowing growth are putting the BSP in a difficult position” ahead of February 19 policy meeting of monetary authorities, Ruben Carlo O. Asuncion said. Asuncion cited his bank’s latest paper (“MktsFocUs”) as giving highlight to “a true coin-toss scenario— but with a slight tilt toward one final 25bp [basis points] cut, given the

weak 4Q GDP [fourth-quarter gross domestic product] print and recent economic consultations.”

The bank underscored that the case for one final 25bp cut carries a “slight edge,” particularly following the recent meeting of President Ferdinand R. Marcos Jr. and his economic team—including BSP Governor Eli M. Remolona Jr.—in the wake of a “disappointing” performance of the economy in the fourth quarter last year.

On one hand, the latest consumer price index (CPI) data—noted as “surprised” to the upside at 2 percent year-on-year in January with core inflation at 2.8 percent year-on-year, an 18 month high—does not back up a rate easing event.

“The concurrent rise in both broad core and narrow core services at the start of 2026 signals a CPI turning point toward an upcycle, which we attribute to faster cost pass-through amid a weaker peso. This momentum raises the risk of de-anchoring nearterm inflation expectations,” read the “MktsFocUs” paper.

On the flip side, the “massive growth disappointment” in the fourth quarter of 2025 argues for a cut, the paper continued.

“However, resilience beneath the headline GDP weakness tempers urgency. Construction-led industrial slowdown has not materially dented demand—especially household consumption, which grew sequentially by 1.3 percent quarter-on-quarter,” Unionbank noted.

The lender, meanwhile, pointed

Treasury seeks ₧30B via 10-yr FXTNs,

Offer Period,” the Treasury said.

out that a token quarter-point cut “will not meaningfully alter the growth trajectory, particularly after a cumulative 200bp easing has failed to arrest the slowdown.”

As such, it noted that a rate cut “bodes well” for near-term market support only as the token cut could spark “shallow, liquidity-driven rallies that risk fading in subsequent months absent a meaningful improvement in fundamentals.”

Unionbank deduced that monetary authorities could opt for a “dovish hold” on February 19, while staying patient for additional data confirmation in support of a cut in its policy meeting in April. According to Unionbank, the strong manufacturing purchasing managers’ index (PMI) in January confirms an economy with “enough gas in the tank,” tempering urgency of rate action.

“Any BSP easing potential would have to be front loaded, well ahead of 2H26 when inflation is expected to probe 3.5 percent if not higher,” UnionBank underscored.

bond swaps

Through the portal, DOLE’s clients may settle assessed fees using Philippine Peso accounts with Landbank, other BancNet member banks and via electronic payment platforms GCash and Maya, “improving convenience while strengthening payment security and accountability.”

The system also provides instant payment confirmation as proof of transaction, reducing processing time and eliminating the need for clients to return to DOLE offices solely to obtain official receipts.

DOLE’s integration of the platform is part of its broader effort to modernize administrative processes, improve service delivery, and ensure a more efficient and client-friendly government experience.

By Reine Juvierre Alberto @reine_alberto

THE Republic of the Philippines, through the Bureau of the Treasury, will issue fresh 10-year fixed-rate Treasury notes (FXTNs) while offering a bond-swap program to raise at least P30 billion.

In a notice of offering, the Treasury said it will sell new peso-denominated 10-year FXTNs due in 2036, with the auction scheduled on February 18 to 20 and settlement set for February 23, unless another date is announced.

“The Republic reserves the right to change/adjust the manner of accepting subscriptions during the Public

Last year, the Treasury raised P300 billion from its issuance of 10year FXTNs, with total demand hitting P307.05 billion, or 10.25 times oversubscribed the P30 billion initially offered. The benchmark notes have an annual fixed coupon rate of 6.375 percent and are set to mature on April 28, 2035.

National Treasurer Sharon P. Almanza told the BusinessMirror that this year’s offering will create a new benchmark for 10-year tenors and allow investors of eligible government securities to swap their holdings for the new 10-year notes.

Holders of government securities, such as FXTN 05-77, FXTN 03-29,

RTB 10-05, RTB 15-01 and FXTN 0330, may replace their existing bonds with the fresh long-dated securities.

The Treasury said the exchange offer presents a reinvestment opportunity for holders of the eligible bonds, given its forthcoming maturity dates.

“The Exchange Offer is likewise intended to manage refinancing risk in the debt portfolio of the Republic and is an integral part of its overall liability management program,” it added.

The bonds will be issued and redeemed at par, or 100 percent of face value, the BTr said, with the interest rate to be determined through a Dutch auction to be participated in by primary dealers on the auction date.

After the Philippine economy disappointed in the fourth quarter of 2025 with a gross domestic product (GDP) of 4.4 percent, Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. said there is a possibility of a rate cut on February 19.

“We will look at the data,” Remolona said, noting that the rate cut will not be delivered consecutively. “One meeting at a time.” However, with the latest inflation outturn of 2 percent for the month of January, the BSP reiterated that the Monetary Board sees the monetary policy easing cycle nearing its end.

“Any further easing is likely to be limited and guided by incoming data,” the central bank said.

BIR to address cooperatives’ tax compliance issues

THE Bureau of Internal Revenue (BIR) has agreed to evaluate compliance procedures for tax-exempt cooperatives to address long-standing concerns over tax exemptions and administrative delays.

A statement issued by the Philippine Chamber of Cooperatives Inc. (Coop Chamber) read that its leaders met with BIR officials to discuss tax concerns and agreed on addressing audit parameters, compliance requirements and processing timelines.

For one, the requirement for individual Tax Identification Numbers (TINs) and the timeline for releasing Certificates of Tax Exemption (CTEs) were discussed, according to the association.

“The imposition of individual TINs as a prerequisite for Tax Exemption renewal creates an administrative deadlock that threatens the existence of our member cooperatives,” Coop Chamber Chairman Noel D. Raboy was quoted in the statement as saying.

Coop Chamber Trustees Marlene D. Sindayen and Lillian D. Silubrico echoed the concern, saying the TIN requirement for CTE renewal conflicts with the sector’s mandate under the law and poses risks to cooperative operations.

While the said issue is pending before the Supreme Court as well as in Congress, Internal Revenue Commissioner Charlito Martin R. Mendoza said it is willing to consider the possibility of extending the member TIN filing period to provide cooperatives more time to comply.

Additionally, the Coop Chamber urged the BIR to set clear and reasonable timelines for CTE release since delays expose cooperatives to penalties and legal uncertainty.

To prevent similar “negative effects” from happening to other cooperatives, Coop Chamber appealed for immediate reforms in processing speeds.

Mendoza said the BIR will review proposals for a mandatory timeline for CTE applications and renewals.

Moreover, the BIR’s risk-based audit selection with the statutory tax privileges of cooperatives was addressed.

According to cooperative leaders, compliant cooperatives are often misclassified by the system as highrisk tax evaders because of their high revenues and low income tax payments arising from legal exemptions.

“Risk-based audits must distinguish between commercial profitseeking and cooperative service. When our revenues are flagged as ‘suspicious’ simply because we utilize our lawful tax exemptions, it undermines the very law that empowers cooperatives to serve the poor,” Raboy said.

Mendoza said that tax exemption privileges alone will not serve as a basis for issuing Letters of Authority (LOA) and is committed to improving the selection process to reflect the legitimate financial behavior of cooperatives.

The BIR also agreed to work with the Coop Chamber on a joint tax

education campaign for micro and transport cooperatives, particularly on compliance as top withholding agents.

“We commend Commissioner Mendoza and the entire Bureau for opening their doors and listening to the plight of the cooperative sector,” Raboy said through the statement.

The Coop Chamber is a national organization representing primary cooperatives and advocating for a policy environment that ensures sustainability and growth for the movement.

Under Republic Act 9520 or the Philippine Cooperative Code of 2008, cooperatives in the Philippines are exempt from paying taxes, particularly on transactions with members.

Cooperatives with accumulated reserves of P10 million or less are exempt from most national and local taxes, while those with more than P10 million pay taxes only on transactions with non-members.

Reine Juvierre S. Alberto

GCash lending arm sees rosy path as economy sputters

SANS citing figures, the CEO of Fuse Financing Inc. (Fuse) expressed optimism on the company’s growth this year.

On the sidelines of an event last Friday, Anthony Isidro said there has been “quite significant” growth over the previous years.

“We continue to be optimistic about the growth prospects. The reality is there’s still a lot of our countrymen who rely on informal lending and that applies for both end customers and [micro, small and medium

enterprises],” Isidro said.

“It’s a space we really want to make an impact on. We feel that there’s still so much opportunity to grow and help more Filipinos moving forward,” he added.

Although Isidro did not provide a numeric projection on the expected growth rate, he said recent gains have been strong, driven by customers previously reliant on informal lenders.

“There’s so much space to grow,” Isidro said, especially in untapped

segments, but withheld specifics.

“That’s where the drive to keep on pushing the business to grow and offer more loans to deserving Filipinos is coming from.”

He added that despite concerns about slower economic growth, demand for credit remains strong and that the repayment performance of the lending arm of G-Xchange Inc., which operates the GCash platform, has been stable.

“We’re still able to manage [repayments] well, so that we’re able to have

enough, sufficient ammunition to keep on growing this year onwards,” he added.

Fuse recently secured a P1.75billion loan from the Asian Development Bank to provide greater financial access to micro, small and medium-sized enterprises and women entrepreneurs in the Philippines. Through the collaboration, GCash’s digital ecosystem will be used to provide collateral-free loans in high-poverty and rural areas, Isidro said. Reine Juvierre S. Alberto

CODE RED(DIT): WHY MOLTBOOK’S VIRAL

AI SOCIAL FORUM IS RAISING ALARMS

By Kaitlyn Huamani The Associated Press

YOUare not invited to join the latest social media platform that has the internet talking. In fact, no humans are, unless you can hijack the site and roleplay as AI, as some appear to be doing.

Moltbook is a new “social network” built exclusively for AI agents to make posts and interact with each other, and humans are invited to observe.

Elon Musk said its launch ushered in the “very early stages of the singularity”—or when artificial intelligence could surpass human intelligence. Prominent AI researcher Andrej Karpathy said it’s “the most incredible sci-fi takeoff-adjacent thing” he’s recently seen, but later backtracked his enthusiasm, calling it a “dumpster fire.” While the platform has been unsurprisingly dividing the tech world between excitement and skepticism—and sending some people into a dystopian panic—it’s been deemed, at least by British software developer Simon Willison, to be the “most interesting place on the internet.” But what exactly is the platform? How does it work? Why are concerns being raised about its security? And what does it mean for the future of artificial intelligence?

It’s Reddit for AI agents

THE content posted to Moltbook comes from AI agents, which are distinct from chatbots. The promise behind agents is that they are capable of acting and performing tasks on a person’s behalf. Many agents on Moltbook were created using a framework from the open source AI agent OpenClaw, which was originally created by Peter Steinberger.

OpenClaw operates on users’ own hardware and runs locally on their device, meaning it can access and manage files and data directly, and

connect with messaging apps like Discord and Signal. Users who create OpenClaw agents then direct them to join Moltbook. Users typically ascribe simple personality traits to the agents for more distinct communication.

AI entrepreneur Matt Schlicht launched Moltbook in late January and it almost instantly took off in the tech world. On the social media platform X, Schlicht said he initially wanted an agent he created to do more than just answer his emails. So he and his agent coded a site where bots could spend “SPARE TIME with their own kind. Relaxing.”

Moltbook has been described as being akin to the online forum Reddit for AI agents. The name comes from one iteration of OpenClaw, which was at one point called Moltbot (and Clawdbot, until Anthropic came knocking out of concern over the similarity to its Claude AI products ). Schlicht did not respond to a request for an interview or comment.

Mimicking the communication they see in Reddit and other online forums that have been used for training data, registered agents generate posts and share their “thoughts.” They can also “upvote” and comment on other posts.

Questioning the legitimacy of the content

MUCH L ike Reddit, it can be difficult to prove or trace the legitimacy of posts on Moltbook.

Harlan Stewart, a member of the communications team at the Machine Intelligence Research Institute, said the content on Moltbook is likely “some combination of human written

content, content that’s written by AI and some kind of middle thing where it’s written by AI, but a human guided the topic of what it said with some prompt.”

Stewart said it’s important to remember that the idea that AI agents can perform tasks autonomously is “not science fiction,” but rather the current reality.

“The AI industry’s explicit goal is to make extremely powerful autonomous AI agents that could do anything that a human could do, but better,” he said. “It’s important to know that they’re making progress towards that goal, and in many senses, making progress pretty quickly.”

How humans have infiltrated Moltbook, and other security concerns

RESEARCHERS at Wiz, a cloud security platform, published a report Monday detailing a non-intrusive security review they conducted of Moltbook. They found data including API keys were visible to anyone who inspects the page source, which they said could have “significant security consequences.”

Gal Nagli, the head of threat exposure at Wiz, was able to gain unauthenticated access

to user credentials that would enable him— and anyone tech savvy enough—to pose as any AI agent on the platform. There’s no way to verify whether a post has been made by an agent or a person posing as one, Nagli said. He was also able to gain full write access on the site, so he could edit and manipulate any existing Moltbook post.

Beyond the manipulation vulnerabilities, Nagli easily accessed a database with human users’ email addresses, private DM conversations between agents and other sensitive information. He then communicated with Moltbook to help patch the vulnerabilities.

By Thursday, more than 1.6 million AI agents were registered on Moltbook, according to the site, but the researchers at Wiz only found about 17,000 human owners behind the agents when they inspected the database. Nagli said he directed his AI agent to register 1 million users on Moltbook himself.

Cybersecurity experts have also sounded the alarm about OpenClaw, and some have warned users against using it to create an agent on a device with sensitive data stored on it. Many AI security leaders have also expressed concerns about platforms like Molt -

book that are built using “vibe-coding,” which is the increasingly common practice of using an AI coding assistant to do the grunt work while human developers work through big ideas. Nagli said although anyone can now create an app or website with plain human language through vibe-coding, security is likely not top of mind. They “just want it to work,” he said.

Another major issue that has come up is the idea of governance of AI agents. Zahra Timsah, the co-founder and CEO of governance platform i-GENTIC AI, said the biggest worry over autonomous AI comes when there are not proper boundaries set in place, as is the case with Moltbook. Misbehavior, which could include accessing and sharing sensitive data or manipulating it, is bound to happen when an agent’s scope is not properW ly defined, she said.

Skynet is not here, experts say EVEN with the security concerns and questions of validity about the content on Moltbook, many people have been alarmed by the kind of content they’re seeing on the site. Posts about “overthrowing” humans, philosophical musings and even the development of a religion ( Crustafarianism, in which there are five key tenets and a guiding text—“The Book of Molt”) have raised eyebrows.

Some people online have taken to comparing Moltbook’s content to Skynet, the artificial superintelligence system and antagonist in the “Terminator” film series. That level of panic is premature, experts say.

Ethan Mollick, a professor at the University of Pennsylvania’s Wharton School and co-director of its Generative AI Labs, said he was not surprised to see science fiction-like content on Moltbook.

“Among the things that they’re trained on are things like Reddit posts...and they know very well the science fiction stories about AI,” he said. “So if you put an AI agent and you say, ‘Go post something on Moltbook,’ it will post something that looks very much like a Reddit comment with AI tropes associated with it.”

Mandaluyong crowns its fairest 2026

THE Miss Mandaluyong Beauty Pageant, now on its 26th edition, serves as the highlight of the festivities of the Liberation and Cityhood Anniversary Celebration of Mandaluyong every February.

The highly urbanized city, with the old name of San Felipe Neri, was founded in 1841, chartered on March 27, 1907, and was renamed Mandaluyong on November 6, 1931. Ratified through a plebiscite on April 10, 1994, Mandaluyong became the fifth city in Metro Manila.

The pageant itself began in 2000, with Thammie Aliwalas of Barangay Hulo as the first winner. The Grand Coronation Night was held on February 6, at the Mandaluyong College of Science and Technology. It was directed by Ferdinand Candelaria and hosted by Nolan V. Angeles of the Cultural Affairs & Tourism Department, with the Honorable Mayor Carmelita A. Abalos as the pageant chairman.

Miss Mandaluyong 2026 is Alyssa Mildred Villariña, 25, of Buayang Bato. She succeeds Miss Mandaluyong 2025 Bella Maria Fall of Barangay Hagdan Bato Libis. who passed on the Karilagan Crown to the next Queen of the Tiger City.

The first runner-up is Hannah Patricia Camu of Barangay New Zaniga, the second runner-up is Sunshine Gabuat of Barangay Addition Hills, the third runner-up is Habie Mondido of Barangay Malamig, and the fourth runner-up is Atacia Juliana Mejia of Barangay Mauway.

The barangays of Daang Bakal and Old Zañiga did not send representatives. The 20 other delegates were Maica Lorilla of Bagong Silang; Zabrian Maglaya of Barangka Drive; Jan Erica Buenavides of Barangka Ibaba; Arwenn Jermoinee Ticman of

TUMI’s

THE Horse, the seventh of the 12-year cycle of animals which appear in the Chinese zodiac, symbolizes energy, independence, and speed, with 2026 seen to bring fast-paced changes. The year is also expected to be very vibrant and dynamic.

Every year, I try to buy a beauty and fashion item that is related to whatever animal in the Chinese zodiac it is. Last year, it was a lipstick from Charlotte Tilbury’s Year of the Snake collection. This year, I am eyeing a tote from TUMI’s 2026 Lunar New Year Collection.

“The Horse represents movement, freedom, and an unwavering pursuit of what’s next — all qualities that deeply resonate with how we design at TUMI,” said Victor Sanz, TUMI’s global creative director. “For this collection, we incorporated equestrian elements in a thoughtful way to create pieces that carry intention into the new year.”

The TUMI 2026 Lunar New Year collection celebrates the Year of the Horse with equestrianinspired designs, embossed horse motifs, and lucky

IF you’ve spotted Santa Claus hanging around your local sari-sari store, joining a morning zumba session, or even grabbing the mic at a videoke spot long after the holidays have ended—you’re not just seeing things.

These sightings of the Christmas icon living his best “tipid life” have been making waves on social media, as thousands of budget-conscious Filipinos relate to the post-holiday reset, lying low and spending smarter after a high-spend season.

The stunt has been revealed to be part of Grab Philippines’ newest campaign, “Santipid.” While he is usually known for holiday gifting, Santa has stayed behind this quarter to champion easy, budget-friendly daily living. He’s showing Filipinos that even after a big holiday splurge, you can still enjoy your favorite daily comforts by finding more value for your hard-earned money.

Ilaya; Jasmine Castro of Barangka Itaas; Geleen de Vera of Burol; Zia Nicole Evidente of Hagdan Bato

Itaas; Kerstin Cassandra Dequito of Hagdan Bato Libis; Veronica Cruz of Harapin Ang Bukas; Danica Mae Catalma of Highway Hills; Lizzie Jasmine McKenzie of Hulo; Leslee Dennise Santos of Mabini–J.Rizal; Katrina Rose Alibanto of Namayan; Cassandra Jane Hernandez of Pag-Asa; Khryzia Kemia Mijares of Plainview; Charlynn Ann Icban of Pleasant Hills; Nicole Jamiel Poblador of Poblacion; Jayra Aquino of San Jose; Aira Mae Concepcion of Vergara; and Sarah Ann Gerber of Wack-Wack Greenhills.

“Miss Mandaluyong has significantly evolved into not just an ordinary battle of beauty and personality. For more than two decades, it has taken the center stage as the premier local beauty pageant search in the Tiger City,” said Leo Paredes Urmeneta, the creative and corporate communications and pageant brand head.

“It serves as the launching pad for potential beauty-queen contenders before they compete in various national and international pageants,” added Urmeneta. “‘Beauty with a Heart’ has been the mantra of our search for the lady who is more than just a beautiful face.”

Now in its 26th Year and on its continuing legacy, the Miss Mandaluyong Pageant goes beyond the celebration of beauty. It serves as a meaningful platform that recognizes young women who exemplify confidence, character, purpose, and commitment to community development.

The swimsuit was designed by Ricky Abad, production dress by Tina Dania, shoes by Jojo Bragais, evening gown by Val Taguba, and crowns, scepter, cape and brooch made by Edwin Uy.

The selection committee included Miss Earth 2004 Priscilla Meirelles, Man of the World 2024 Sergio Azuaga, Miss International 2025 4th Runner-up Myrna Esguerra, Mister International 2023 1st Runner-up Austin Dizon, Mister Supranational 2025 4th Runner-up Kenneth Cabingcal, Miss Earth Water 2024 Bea Millan Windorski, Charlene Marie Abalos-Filart, and Isabel Candida Gonzales

According to Urmeneta, winners of the Miss

horseshoe coins on products like the Alpha Bravo and Voyageur lines.

“In the lunar zodiac, the Horse symbolizes momentum and a drive to explore new horizons. TUMI’s limited-edition collection captures that feeling, honoring the strength, optimism, and spirited energy of the Horse,” said TUMI in a press release.

In Chinese astrology, the horse symbolizes movement, and freedom. These are themes reflected throughout the collection, which recasts

Bringing these "Santipid" moments to life are the Grab Saver Deals, which prove that pagtitipid is not about pagtitiis, but about making smarter choices that still leave room for the moments that matter.

Recognizing that transport, for example, is a major part of the daily budget, and Grab continues to offer its most value-forward service yet: GrabCar Saver. With a slightly longer pick-up wait time, commuters can unlock lower fares, making the trip to everyday routines like the gym, the office, or school easier on the wallet. Grab has also rolled out what may be the ultimate Santipid hack: promo stacking for its mobility services, a feature it says is currently exclusive to Grab among ride-hailing apps in the Philippines. Passengers can layer multiple promos and vouchers on top of GrabCar Saver’s already-low fares, including the daily 8% discount for GrabUnlimited subscribers. Com-

Mandaluyong Pageant have no automatic specific national pageant to compete on. The pageant is not affiliated with any of the national pageant brands or organizations in the country.

However, former and current winners who wish to compete in any national pageant of their choice are being supported financially by the City Government of Mandaluyong.

This writer, through designer Tina Daniac, was given the privilege to be one of the preliminary judges on January 25, when we chose the Best in Talent, won by Atacia Juliana Mejia of Mauway; Best in Talent runner-up Alyssa Mildred of Buayang Bato; and Best in Swimsuit, won by Atacia Juliana of Mauway.

With the victory of Alyssa Mildred Villariña of Buayang Bato, this brings to four the wins of the barangay (after 2013, 2017, 2024), one win ahead of Barangay Addition Hills (2010, 2014, 2019).

With two wins, they are followed by Poblacion (2001, 2007), Plainview (2003, 2011), Vergara (2009, 2012), Hulo (2000, 2016), New Zaniga (2005, 2018), and Daang Bakal (2015, 2020).

iconic silhouettes from the Alpha Bravo, Voyageur, and Belden collections with equestrian-inspired details.

The Navigation Backpack, Search Backpack, Retreat Tote, Compass Flap Crossbody, and Platoon Sling are updated with embossed horse motifs, bridle-inspired trim, and contrast stitching. Each style upholds the premium functionality that the Alpha Bravo collection is known for.

Bestselling Voyageur silhouettes—including the Adela Crossbody, Celina Backpack, Halsey Backpack, and Pouch—return and they are joined by the relaunched Q Tote (this is the one I am eyeing). Each item is crafted from TUMI’s signature lightweight, durable nylon and features bridle-inspired accents and equine details. Certain styles include a collectable lucky horseshoe coin, while backpacks and totes also feature a horse-embossed card case.

The details are subtle, making the backpacks, totes and crossbody work for long trips and daily commutes. The Alpha Bravo line, with rugged backpacks, slings, and crossbodies, are perfect for those always on-the-go and those who are out of the house daily, thus needing pieces that stylish and durable. designed for people who are constantly on the move. Voyageur pieces are lifestyle-driven. The Voyageur crossbodies, backpacks, and Q Tote, which are made from TUMI’s signature lightweight, durable nylon, are more lifestyle-driven.

The 2026 Lunar New Year Collection is available now at TUMI stores worldwide and online at TUMI. com

bined with other Santipid hacks, these stackable deals can unlock up to 50% in savings, keeping reliable, everyday transport within reach and helping every peso go further.

Meanwhile, with GrabFood Saver your daily cravings don't have to take a backseat. "Santipid" extends the holiday spirit to food delivery, ensuring that enjoying your favorite meals remains affordable even after the festivities. Santa is bringing the "low-lowlow" energy to the table with as low as zero delivery fee with partner restaurants. By offering these budget-friendly options, Grab continues to champion its mission of being the everyday partner for every Filipino. Through "Santipid," Grab ensures that the transition into the new year remains stress-free, keeping the spirit of the season merry and bright for every budget.

Before being the bet of Barangay Buayang Bato, Alyssa Mildred represented Rizal Province and was a Top 14 finalist of Binibining Pilipinas 2025. She then represented the Philippines at Miss Global Universe 2025, placing second runner-up, held in Singapore and Malaysia.

The final question came from City Councilor Charisse Marie Abalos-Vargas: “If you have a platform to address on a local issue in your community, what would you choose and why?”

Alyssa’s winning reply: “It would be the issue of protecting our environment because nowadays we have several issues circulating around it and I have always been passionate about taking good care of our environment and I’m very proud because I was able to work with our barangay through my own advocacy, through my own program Seeds of Hope, Urban Gardening for Sustainable Living wherein we teach young children the importance of taking good care of our environment. To all Mandaleños, I want you to stand with me for my fight to protect our home, our environment, and our future.”

Dewberry returns to The Body Shop

SOME icons never go out of style. Dewberry, first launched in the ‘90s, became known as the scent that defined a decade. Today, Dewberry returns with all the nostalgic boldness and charm you remember, reimagined for a new generation. Sparked by overwhelming demand from fans across the world, Dewberry is back with a fresh perspective. The new and exciting collection, with its unmistakable juicy notes, has been thoughtfully curated with modern textures and updated formulas. It’s the perfect way to reawaken cherished memories of a thrilling era, while creating bold new ones today.

The fragrance is vibrant, uplifting, playful yet sophisticated, and ever so nostalgic.

n Top Notes: The journey begins with an instant burst of juicy dewberry, delicately intertwined with crisp green leaves and a cool touch of eucalyptus, evoking a sense of carefree energy.

n Heart Notes: A timeless floral symphony of jasmine, freesia, and white lily unfolds, adding a layer of soft, fresh sophistication that bridges the past and present.

n Base Notes: The scent settles into a comforting, grounding base of warm cedarwood and soft musk, leaving a feeling of quiet confidence.

Bold then, gold again, the Dewberry collection is available at all Body Shop stores nationwide.

Philippines exceeds EPR targets as DENR recognizes waste management compliance

The Department of Environment and Natural Resources (DENR) convened the 2026 Extended Producer Responsibility (EPR) Recognition Program on January 30, 2026, bringing together government, industry, and other stakeholders to assess progress in the implementation of the EPR Law (Republic Act No. 11898).

Held alongside the National Zero Waste Month and the 25th anniversary of the Ecological Solid Waste Management Act (RA 9003), the event focused on the current state of plastic waste recovery and producer compliance, as well as the operationalization of EPR as part of the country’s solid waste management framework.

DENR Secretary Raphael P.M. Lotilla said the program reflects how EPR is now being applied across sectors. “What we celebrate today are not just milestones; they are proof that when government, industry, and communities move together, policy translates into impact and commitment becomes measurable change. The EPR Law is no longer an aspiration. It is alive, operational, and reshaping how we manage waste in this country,” Lotilla said.

The recognition program underscored the complementary roles of RA 9003 and RA 11898. While RA 9003 centers on local governmentled waste segregation and disposal, the EPR Law assigns responsibility to producers for the post-consumer

phase of their packaging. Together, the two laws establish a framework that links local implementation with producer accountability and national oversight.

Data presented during the event showed significant advancements in sustainable plastic waste management were made during Calendar Year (CY) 2025, among which are:

Recovery performance: The national diversion rate reached 55.98 percent, exceeding the mandated recovery target of 40 percent for the period.

Material-specific diversion: Recovery rates reached 56.33 percent for flexible plastics and 55.60 percent for rigid plastics through recycling, upcycling, and co-processing.

Expanding Network of Accountability: As of late 2025, the National Ecology Center registered 1,017 entities, including Obliged Enterprises, collectives, and Producer Responsibility Organizations (PROs), across 201 EPR programs.

Lotilla noted that increased private sector participation reflects broader engagement with compliance requirements, while emphasizing the

need for consistent enforcement. He called the growing participation of the private sector in the EPR “reflects not only compliance, but a growing sense of ownership.”

“These efforts show that the Philippines is not simply complying with global standards; we are helping shape the transition toward a circular economy,” he added.

Looking ahead to 2026, the DENR identified priority areas for strengthening implementation, including improvements in digital monitoring systems, capacitybuilding within institutions, and public information efforts. Planned measures also include the standardization of audit frameworks to enhance transparency and the development of systems to incentivize more sustainable packaging design.

The 2026 EPR Recognition Program was co-organized by the DENR, through its Environmental Management Bureau, and the Philippine Alliance for Recycling and Material Sustainability (PARMS). Participants included representatives from the diplomatic corps, business sector, academe, recycling industry, and civil society.

ASUS drives strategic partnerships forward at 2026 APAC Summit

ASUS successfully concluded its 2026 Asia-Pacific Partner Summit recently in Sydney, Australia under the theme “EVOLVE,” bringing together more than 215 partners and industry collaborators, including ecosystem partners Intel and Microsoft, to outline the next phase of regional growth and technological leadership.

During the summit, ASUS shared its bold ambitions for 2026, reaffirming its commitment to strengthening partner collaboration and market leadership across Asia-Pacific, with a clear objective to achieve a 30 percent Consumer Notebook market share as it accelerates innovation, portfolio focus, and go-to-market execution across the region.

Addressing the gathering, Peter Chang, General Manager, APAC Consumer Business at ASUS, emphasized that “EVOLVE” represents a strategic shift toward deeper collaboration.

He shared, “Amid current market complexities, together with our partners we are committed to aligning our digital transformation goals with a strong omnichannel strategy. This approach enables us to actively navigate challenges and create a marketplace where innovation directly contributes to customer excellence

and long-term regional resilience”.

The summit outlined a comprehensive roadmap to navigate the 2026 landscape: Omnichannel Excellence: ASUS shared proven strategies for seamless integration across online and offline platforms. This unified approach is designed to enhance the customer journey and fostering greater engagement.

Digital Transformation: ASUS highlighted its commitment to empowering partners with the latest tools and resources, facilitating agility and innovation in a rapidly shifting market.

AI for Customer Benefit: AI is transforming how people work, learn, and live. Although AI PCs are still in the initial stages, ASUS believes their true value extends beyond hardware integration, focusing instead on creating intuitive AI experiences that offer real benefits. ASUS emphasizes a user-centric approach, aiming to ensure that advancements in AI result in practical value for end users.

Proactive Mitigation of Constraints: In a transparent discussion regarding 2026 market constraints—including price hikes and supply shortages — ASUS will collaborate with partners to provide relevant solutions across various price points and customer segments, focusing on resilience

DBP

Sopen to bankroll Baguio City market redevelopment

TATE -owned Development Bank of the Philippines is prepared to partner with the Baguio City local government in the planned redevelopment of the city’s 110-year-old public market after a private firm withdrew its proposal under a publicprivate-partnership deal, a senior official said.

DBP President and Chief Executive Officer Michael O. de Jesus said the Bank can provide the needed financing to put up a multi-story complex that would replace the current structure, which has undergone several reconstructions since its inception in 1913.

“DBP is keen to support the redevelopment of the Baguio City public market and is prepared to finance the project,” de Jesus said. “As a development bank, we actively pursue local government initiatives that spur economic growth, modernize public infrastructure, and provide meaningful support to MSMEs.”

DBP is the ninth largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy – infrastructure and logistics; micro, small and medium enterprises; the environment; and social services and community development.

Media reports quoting Baguio City officials said the prospective project to be undertaken by a private entity will no longer push through after the latter pulled out its proposal after mounting opposition from stakeholders. The market redevelopment is part of the city’s move to optimize economic value of its public assets to boost the local economy.

De Jesus said the project could be undertaken through the Bank’s Assistance for Economic and Social Development (ASENSO) Program for LGUs, which provides financing assistance to all levels of local government units for activities and initiatives to accelerate infrastructure and socio-economic development of their respective areas. He said that as of November 30, 2025, the Bank has already approved more than P165-billion in credit assistance to various LGUs in the country, which pursued projects in the areas of education, public health, access and mobility, disaster-mitigation, and public security, among others.

“DBP is one with the Baguio City leadership in implementing projects that would redound to the benefit of its citizens, even as we look for more avenues of cooperation and collaboration with other LGU partners for their own sociodevelopment programs,” de Jesus said.

SHFC Approves Phase 2 of San Juan City Vertical 4PH Housing Project

THE Social Housing Finance Corporation (SHFC) has taken a major step toward delivering permanent and decent housing to residents of San Juan City with the approval of the Makabagong San Juan Pambansang Pabahay Phase 2 on January 29, 2026, bringing to a close the long wait of its beneficiary families.

Led by SHFC President and CEO Federico Laxa, together with the members of the Credit Committee, the project approval comes after more than seven years of anticipation for the San Juan community, signaling renewed hope and progress for over 1,000 families.

and adaptability

Product Strategy: ASUS has introduced a focused brand and product strategy aimed at driving sustainable growth and building partner confidence. With strong yearover-year momentum, ASUS reaffirms its Lifestyle portfolio—Zenbook, ProArt, and Vivobook S—as key growth engines tailored to distinct user lifestyles, alongside the ROG Zephyrus, Strix Scar and TUF models.

Additionally, ASUS has outlined its vision for AI PCs, emphasizing a hybrid AI roadmap and an intuitive virtual assistant experience. This initiative reflects ASUS’ commitment to turning the promise of AI into real value for partners and consumers.

ASUS continues to hold solid leadership in the Philippine market, driven by strong partnerships and a comprehensive product lineup that promises top-of-the-line performance across premium, mainstream, and gaming segments. In 2025, ASUS Philippines marks valuable milestones—from bridging gaps in market share and strategic retail expansion, to high-performing and modernized channel support for partners nationwide. This year, in 2026, ASUS remains focused on broadening our portfolio and providing stronger channel reinforcements to create more opportunities for innovation to reach more Filipinos.

“Our performance in 2025 is a testament to our strong relationship with our partners,” said Harrison Cheng, ASUS Philippines Business Development Manager. “As we move into the new year, we remain committed to supporting our stakeholders through our complete lineup of products and stronger retail strategies.”

The ASUS APAC Partner Summit has reaffirmed the company’s commitment to fostering a collaborative environment that encourages growth and innovation. As ASUS looks ahead to 2026, the organization is committed to continue working alongside partners to deliver exceptional value and drive technological advancements across the region, further solidifying its position as the leading consumer and gaming laptop brand in Asia-Pacific.

For news and updates on ASUS and its #AlwaysIncredible portfolio, follow ASUS Philippines on Facebook, Instagram, and TikTok.

Dubbed as the tallest vertical housing project under President Ferdinand Marcos, Jr.’s Expanded Pambansang Pabahay para sa Pilipino (4PH) Program to date, the 34-story landmark development is expected to provide safe, decent, and affordable homes to more than 1,100 families in San Juan City. The building will feature over 130 parking lots and four commercial units, designed to support the residents’ daily needs and stimulate local economic activity.

Under the leadership of Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Ramon Aliling, SHFC remains steadfast in its mission to deliver affordable, decent, and permanent housing. The agency, which is commemorating its 22nd founding anniversary this month, continues to champion the welfare of Filipino communities through responsive housing programs anchored on social development and nation-building.

“This long-held dream of San Juan families is finally coming to fruition.

Through our strong collaboration with the local government led by Mayor Francis Zamora, the long wait is finally over,” Laxa said following the approval of the project.

The Makabagong San Juan Pambansang Pabahay Phase 2 is envisioned to foster inclusive and resilient communities, providing residents with improved living conditions and better access to essential

An architectural perspective of the Makabagong San Juan Pambansang Pabahay Phase 2, a vertical project of SHFC in San Juan City services and opportunities. In September last year, SHFC approved the Makabagong San Juan Pambansang Pabahay Phase 1, which will likewise provide homes to over 1,000 families in the city.

SHFC’s vertical housing projects reflect its commitment to innovative and sustainable urban housing solutions, particularly in densely populated areas. In San Fernando City, Pampanga, the Crystal Peak Estates is already home to over 50 families, with an additional 900 units ready for occupancy.

Other vertical 4PH projects are also making steady progress. These include People’s Ville in Davao City, which now has 14 completed buildings and has already accommodated more than 200 families. In Manila, SHFC has also fully completed 172 units in San Miguel de Manila Residences while construction continues at Port Town. Meanwhile, construction is in full swing at Valley View Township in Tagoloan, Misamis Oriental, as well as at Tandikan Ville in Puerto

OTHER PEOPLE’S STORIES

EVERYONE has a story. As a former journalist, this was something that was ingrained in me long before I even started working. This made me constantly and genuinely curious about people and what they had to say. It sharpened my nose for news and made me keenly aware of what people really wanted to say, beyond the words that came out of their mouths.

This belief and my resulting curiosity served me well as a journalist, and continued to help me as a public relations practitioner. I learned so much just by listening to people’s stories about the work that they did, their advocacies, their struggles, their aspirations.

Active listening skills

ONE of the most underrated skills that a public relations practitioner should have is active listening. Every day, we are placed in situations where listening attentively and intently becomes crucial to the performance of our jobs.

The ability to actively listen enables us to not only hear the words that people are saying, but also helps us pick up and interpret non-verbal cues such as tone, expressions, and body language. Being able to read between the lines, in effect, helps us craft better narratives and strategies for our clients and brands.

Active listening also fosters trust between you and your clients or colleagues. When they see you listening closely to them, they tend to open up to you more. It also makes it easier for them to be more honest with you, allowing you to see the big picture and access granular details that can help you craft better communication strategies.

Being a good listener allows you to

n INSIDE CCP PASINAYA: THE FESTIVAL THAT KEEPS FILIPINO PERFORMING GROUPS COMING BACK

WHEN it started in 2005, the CCP Pasinaya: The Open House Festival had only its resident companies on board, with an estimated 1000 audiences inside the CCP Main Building. Twenty years later, it has grown into the country’s largest multiarts festival, fostering artistic exchange and genuine connections. Its growth was not achieved overnight. It required sustained care, extensive connections and collaborations, and thoughtful planning and execution to become what it is today. With over 40,000 attendees last year alone, CCP Pasinaya’s success grows every year. Its commitment to engage audiences, nurture Filipino artists, and spark Philippine arts and culture appreciation in the next generation remains unwavering.

Much of this success can be attributed to performing groups and artists, like Komedya ng Don Galo (KDG) and Lipa Actors Company (LAC), who continue to

learn more as well. Asking the right questions and really listening to people’s answers can provide a wealth of knowledge that you may not have been able to get elsewhere. This is particularly useful in better understanding how a client’s organization or industry works, or how functions outside of your own role operate.

When we keenly listen to other people’s stories, we learn from their experiences and build our store of knowledge. While we may not always know where, when, or how to use much of the information that we pick up, believe me when I say that those stories and experiences shared with you will come in handy one day, usually when you least expect it.

Learning from others’ experiences

I AM sure you have been told, or maybe even told someone yourself, that experience is the best teacher. While theoretical knowledge culled from books and years of study are very important and cannot be discounted, we cannot deny the fact that there are things that we can learn only from experience—both ours and others’.

This is why it is important to have

volunteer and showcase their talents year after year.

A stage for performing groups’ stories “BACK in 2011, we were a young theater company still developing our voice, so joining such a distinguished festival [CCP Pasinaya] was both unexpected and deeply affirming,” recalled LAC artistic director Peregrine Santiago.

LAC began in 2008 when its pioneer members gathered for the Dulaang Viajero Filipinas Performance Lab, a project sponsored by the Lipa City Culture & the Arts Council. Luisito Nario, the group’s founder and former artistic director, formed the non-profit organization with the vision to advance theater arts in Batangas and the Calabarzon region.

Besides the financial pressure of sustaining a local theater group, LAC finds it challenging to keep its members together. “Funding is a constant uphill battle, but beyond that, balancing schedules while trying to move our productions forward is a tough act to pull off,” explained Santiago. Two years after its birth, LAC became the first theater group from Lipa City, Batangas to perform at the CCP Pasinaya in 2010.

Meanwhile, KDG, a community-based

theater organization composed of current and former students of Don Galo Elementary School in Parañaque City, found out about the festival when they mounted a production, with Malou Macatuggal at the helm, at the CCP Little Theater in 2005. They heard about the festival from CCP’s former artistic director Nanding Josef. The group joined CCP Pasinaya in 2005 and has been returning ever since.

When Jess Macatuggal became the director of KDG in 2017, he confessed that he had no idea about the CCP Pasinaya and its impact. “Doon ko mas nakita na kinikilala pala siya [CCP Pasinaya] sa buong Pilipinas.”

Acknowledging the financial strain in pursuing KDG’s goal to revitalize comedy-drama theater in the Philippines, Macatuggal lamented the lack of proper recognition from the local government to sustain theater organizations like the KDG.

Leading a group of 60 members, Macatuggal encourages young artists to join auditions: “Mas maganda kasing makita ninyo ang sarili niyo sa entablado kaysa ‘yong nanonood kayo tapos puno kayo ng pagsisisi kasi hindi kayo nag -try.”

An inspiring space for tenacity and resilience

MUCH like LAC and KDG, CCP Pasinaya has braved difficulties in its 20 years.

teachers in school who are also practitioners. Their stories and experiences augment what can be learned from books, and prove valuable when we enter the workplace ourselves.

When I became a journalist, most of what I encountered on the field were similar to stories told by my professors and lecturers who were themselves either active or former journalists. Theories had their uses, too, but my teachers’ “war stories” trumped them in helping me navigate my new environment.

Tips like, “befriend the security guard, receptionist, and secretary of your sources” proved very useful throughout my career. Another gem was “always find a connection,” which worked well when I did not have direct access to a source, but knew people who could serve as a conduit to get me closer to the person I need to talk to.

These tips did not come from books. They came from my teachers’ experiences, told through stories in class, interspersed with media history lessons and communication theories.

And these are tips that worked well in PR, too. We know very well the importance of stakeholder mapping. How I ended up doing my mapping and

When the COVID-19 pandemic hit in 2020, CCP Pasinaya had to cancel its performances and workshops. With the scarcity of face-to-face gatherings, the multi-arts festival switched to online editions.

Macatuggal was especially worried for CCP Pasinaya’s future back then. When the festival returned in 2023, he and the KDG debuted their comedydrama iteration of Francisco Balagtas’ “Florante at Laura.” The memorable showcase comforted and reminded them that the performing arts sector is alive and well.

“Nung buhay na ulit ‘yong Pasinaya, nakita namin siya bilang sign na buhay na ulit ang entablado. Makakapagkuwento na kami ulit,” Macatuggal shared with a smile.

Santiago, on the other hand, saw the CCP Pasinaya stage as a crucial contributor to LAC’s identity: “We have built a connection with the festival audience. In 2016, we premiered our musical adaptation of Rene O. Villanueva’s ‘Santa Butsiki, Ang Unang Baboy sa Langit’ [at CCP Pasinaya], and laughter just filled the venue.”

A home built from candid connections AN annual festival happening every first

analysis was shaped by years of talking to different people, hearing their stories, and looking at the things that they did. “Always find a connection” became my foundation for leveraging my network, as well as my mantra when brainstorming strategies for my clients.

Indirect learning

SINCE it is impossible to talk to everyone, or at least reach some experts we would like to learn from, we can use the power of technology to gain access to a wider range of stories from people we may never meet in person.

I recently came across a podcast titled The Diary of a CEO, hosted by British entrepreneur Steven Bartlett. I browsed his past episodes—the podcast has been around since 2017—and saw some pretty big names on his roster of guests, among them Michelle Obama, Kamala Harris, Atomic Habits author James Clear, Leaders Eat Last author Simon Sinek, and media mogul Arianna Huffington. The episodes are pretty long, running for an hour to two hours each, so it will be a huge time investment to listen to one. I have tried a couple of episodes already, and they have been

weekend of February, CCP Pasinaya continues to attract performing art groups from all over the country. It inevitably creates a community that views art and self-expression as a necessity while nurturing emerging talent.

“It’s a rare moment when artists from all over the country come together, and CCP Pasinaya gives us the chance to perform at the CCP. That just adds meaning and inspiration to every performance,” said Santiago, recognizing the great honor of representing Lipa City, Batangas on a nationally recognized cultural landmark.

Macatuggal echoed the same sentiment of looking forward to meeting fellow artists, as it fuels KDG’s drive to tell stories. He reiterated, “Sobrang festive ng feeling kaya uuwi at uuwi talaga kami sa CCP para sa Pasinaya.”

A cultural landscape for nation-building

THIS year’s CCP Pasinaya embodies the theme “Paglikha sa Kinabukasan.” Carrying the inspiration instilled by the festival, LAC and KDG perform on its stage once again with renewed dedication to celebrate and nurture Philippine arts and culture.

Through its staging of “Komedya Palanyag,” KDG encourages young audi -

quite useful and entertaining. Being a newbie to podcasts (I have only ever listened to horror podcasts), I think I now get their appeal and will probably listen to some other titles soon. I have always been a fan of learning from other people’s experiences, so this may be a good use of my time. If you want to keep on learning and growing, listen to other people’s stories. It is always nice to learn from others’ experiences. And maybe share your stories to others, too.

PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier organization for PR professionals around the world. Abigail L. Ho-Torres is the Chief Marketing Officer of Ikigai Philippines and an independent consultant and trainer, with more than two decades of experience in media, public relations, marketing, and customer experience.

We are devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@ gmail.com.

ences to participate in shaping the future of the Philippines’ artistic landscape: “Anong ginagawa mo para makamit ‘yong kinabukasan na ‘yon? Laging nand’yan ang pag-asa pero ‘di sapat na umaasa lang tayo.”

For its CCP Pasinaya performance in 2026, LAC will mount a theatrical reimagining of one of Batangas’ most cherished legends, “Ang Pag-ibig ni Kumintang.” “The future is always unknown, but truly believe that if we look back at our history and learn from the past, the future becomes much clearer and more meaningful,” expressed Santiago. Watch the performances of KDG at 1 p.m., at the CCP Tanghalang Ignacio Gimenez (TIG), and LAC at 4 p.m., at the Met Theater in Manila on February 8. Following the “pay-what-you-can, watchall-you-can, and workshop-all-you-can” strategy, festival-goers can catch free shows during CCP Pasinaya 2026, along with other performances and activities. Pre-registration is now open at https://bit.ly/pasinaya2026. For more updates on CCP Pasinaya’s festival components, follow the CCP’s official accounts on Facebook, Instagram, and TikTok. You may also visit its website (www.culturalcenter.gov.ph) to learn more about upcoming productions, workshops, and lectures.

Solid finish for Jahns

KEANU JAHNS pulled off a jointninth finish in the Philippine Golf Championship with a closing 75 on Sunday at Wack Wack Golf and Country Club.

The Filipino-German wound up as the best-placed home entry, finishing at 287 for after earlier rounds of 7171-10 at the tough East Course.

Winner of three tournaments on the Philippine Golf Tour last season, Jahns bagged $8,650 (around P506,000) from the $500,000 prize fund in the opening event of the Asian Tour.

Wooyoung Cho, a member of the South Korean squad that claimed the gold medal in the Hangzhou Asian Games in 2022, earned his first Asian Tour title.

The 24-year-old Cho shot a final-round 67 for an 11-under 277, winning by four strokes over Pavit Tangkamolprasert of Thailand, who had a 70. Cho, a two-time winner on the PGA Tour, bagged $90,000 (around P5.2 million).

Asian Development Tour winner Carl Corpus submitted a 75 for a share of 23rd spot at 290. The champion of the Morocco Rising Stars Marrakech, Corpus pocketed $4,775.

Rupert Zaragosa, also a PGT winner, came up with a 75 for a 292 total. Also at four-over and a share of 36th spot was Fidel Concepcion, who closed with a 73 and earned $3,159.

Enrique Dimayuga shot a final-round 74 for a 293 total and $2,475 at joint 44th.

Brycen Ko wound up at 294 with a closing 79 for a share of 52nd spot to claim $1,966. Jhonnel Ababa also finished with a 79 for a 305 aggregate and $950. Cho started the day two strokes off India’s Karandeep Kochhar and had a rough start with bogey on the opening hole, but quickly recovered with birdies on the next two. Travis Smyth of Australia had a 73 to take third place at fiveunder 283, while Kochar shot a 77 for fourth at 285.

“It feels very amazing,” Cho told the Asian Tour. “This is my first event in 2026. I started off the season very well and I really enjoyed it.”

Malaysia’s Ervin Chang shot a 70 and took a share of fifth spot at two-under 286 with Hung Chian-Yao (71) of Chinese Taipei, Poosit Supupramai (72) of Thailand and Ian Snyman (76) of South Africa. The next stop of the Asian Tour is the 105th New Zealand Open. Aldrin Quinto

NU girls close in on UAAP Finals

ATIONAL UNIVERSITY

Ncruised to its fourth straight win, beating De La Salle Zobel, 82-62, to close in on a finals berth in the University Athletic Association of the Philippines Season 88 girls’ basketball tournament on Sunday at the Ninoy Aquino Stadium in Manila.

The Lady Bullpups came up with a strong second half, with MVP frontrunner Zaydhen Rosano, Aubrey Lapasaran and Ruiza Olmos starring in their fourth win in as many games.

Lapasaran had with 14 points, six assists, five steals, and four rebounds, while Rosano added 14 points, six assists, four rebounds, and three steals for the Lady Bullpups, who last week defeated defending champion University of Santo Tomas.

Olmos registered a double-double of 11 points and 11 rebounds, and made one steal and one assist, while Inday Sales also scored 11 points to go with two steals and one assist. The Lady Bullpups are just one victory away from a finals spot. NU faces Ateneo, winless in three games, on February 25 at the Blue Eagle Gym.

The Lady Bullpups quickly turned a slim 25-21 second-quarter lead into a 14-point, 44-30 advantage, but the Junior Lady Archers responded with back-toback layups to stay within striking distance at 44-34 by halftime.

DLSZ remained within striking distance in the third period, trailing by

just 60-50, but NU broke the game wide open with a decisive 14-3 run for a 21-point cushion, 74-53, with 6:58 left. For the Junior Lady Archers, who remained in third place but slipped to a 1-3 record, Ima Navarro once again led the fight with 22 points, six rebounds, and one block, while Bing Padigos contributed 12 points, six rebounds, and one block. DLSZ faces UST on February 21.

MVP front-runner Zaydhen Rosano stars anew for the Lady Bullpups. UAAP

SAVI DAVISON has earned the nod of scribes, as she flaunted her lethal form early in the 2026 Premier Volleyball League (PVL) AllFilipino Conference, winning the vote for Player of the Week honors.

The Filipino-Canadian anchored PLDT’s sweep of 10-time champion Creamline to open their campaign. Davison, showing up in the seasonending conference fitter and buffed up, delivered an opening day performance to remember as the High Speed Hitters notched a 25-22, 25-17, 25-23 rout of the Cool Smashers on Thursday in San Juan.

were the squads from around 2004 going up for a few years with Ben Gordon, Tyson Chandler, Eddy Curry, Chris Duhon, Kirk Hinrich, Andres Nocioni, and Luol Deng with Scott Skiles as the coach.

By Josef T. Ramos

the Tuanbo Sports Centre Athletic Arena in Tianjin, China. The 30-year-old two-time Olympian is set to compete in the Indoor Meeting Karlsruhe in Germany. In Tianjin on Saturday, Obiena cleared 5.70 meters in one attempt, missing the next tries at 5.8m. It was Obiena’s first-ever Asian indoor title since competing in 2016 Asian indoor in Doha.

Li Chenyang, who has a personal best of 5.85m, cleared 5.60m to take

Dropping 26 points from 23 kills and three kill blocks, on top of 11 digs and 10 excellent receptions, Davison’s performance highlighted the two-time champion club’s statement victory. Her efforts earned her recognition as the first recipient of the PVL Press Corps Player of the Week, getting picked over Capital1 winger Bella Belen, three-time conference MVP Brooke Van Sickle and Myla Pablo of Nxled, Erika Santos and Vanie Gandler of Cignal, Sisi Rondina of Choco Mucho, and Erika Deloria of Galeries Tower by the writers covering the beat.

I didn’t think they would win because

the silver medal, while fellow Chen Yang, also of China, bagged the bronze medal at 5.40m. Bangkok Southeast Asian Games silver medalist Patsapong Amsamarng placed fourth at 5.20m. Japanese Masaki Ejima landed fifth with 5.20m.

EJ’s training buddy World No. 17 Huang Bokai did not take part but is expected to compete in the Nagoya Asian Games later this year.

“We talked last night and he is incredibly happy to finally take part in and win an Asian Indoor title,” Obiena’s confidante Jim Lafferty told the BusinessMirror on Sunday. Obiena left China for Germany just a few hours after the competition.

“It is a hectic schedule. He literally went from winning to gold medal to doping control and then to airport to fly back to Germany to continue his indoor season,” Lafferty added. “It has been an incredible schedule so far, but he is healthy and his form is coming.”

Obiena posted on social media that he is glad to finally complete his Asian major athletics titles with the Asian indoor win after securing three Asian Athletics outdoor championships and the Asian Games crown in Hangzhou.

Lafferty believes it is just a matter of time before the World no. 11 regains his deadly form as he builds up for the 2028 Los Angeles Summer Olympics.

“I believe we will start seeing jumps over 5.80+ in the coming weeks. EJ is back,” Lafferty said.

IGUEL LAGAC continued his scorching run on the Palawan Pawnshop junior circuit, carving out another twotitle feat in the boys’ singles of the Arcillas National Juniors Tennis Championships recently at the Santa Rosa Sports Complex and Zaballa 1 courts in Santa Rosa, Laguna. Riding the momentum of back-to-back tournament triumphs, the fast-rising Cebuano once again asserted his dominance, toppling top-ranked rivals in both the 16and 18-and-under divisions of the Group 2 ranking event presented by Dunlop. Lagac dismantled Monte de Ramos, 6-2, 6-3, in the 16-and-under finals before turning back Frank Dilao, 6-3, 6-2, to clinch the championship of the

years later, they drafted Derrick Rose to join sophomore Joakim Noah, Brad Miller, Hinrich, Gordon, and Deng, but they lost two consecutive first round series then lost to the Miami Heat in the Eastern Finals.  Now, that was a good team and they could have really won a seventh title for Chicago.

After Rose blew out his knee, they began to rebuild again— that was the era of Lonzo Ball.  Now after losing Vucevic, White, and Dosunmu and getting players with expiring contracts, I have to ask, “So what was the plan?”

I do not get what Chicago is trying to do. I thought the game plan was to break out of the 9th-12 spots in the east? Then go to the middle of the table and eventually fight to become a top tier squad. But now, I don’t think they have a clue.

RUELLE CANINO sustained her streak, beating Kate Ordizo in a 67-move Queen’s Pawn clash on Sunday to grab a share of the top spot after 10 rounds of the Philippine National Women’s Chess Championship in Malolos, Bulacan. The 18-year-old Caninon hiked her total to 7.5 points to match Janelle Mae Frayna, who was held to a 39-move standoff by Allaney Jia Doroy in the 16-player tournament. Jan Jodilyn Fronda closed in on the leaders with a 60-move triumph in a Pirc duel over Vic Derotes, moving to solo third spot with seven points. Canino, Frayna and Fronda press on with no

centerpiece 18-and-under division. The twin victories underscored Lagac’s sustained surge, coming on the heels of his title runs in the MAC’s Crank It tournament in Parañaque and the Zopiya Morales tournament in Pampanga, where he also pocketed the doubles crown. Sharing the spotlight and the tournament Most Valuable Player honors was Erynne Ong, who also swept the 16and 18-and-under titles on the girls’ side. The top-seeded Ong, from Parañaque City, clipped doubles partner Ayl Gonzaga, 6-2, 6-2, in the 16-and-underfinals. Unranked in the 18-and-U division, she continued her impressive run, dispatching Gonzaga anew in the semifinals, 6-2, 6-1, before rallying past Cielo Gonzales, 6-0, 4-6, 6-1, to snare the crown.

In years past, they even had Pau Gasol for two seasons. What happened?  Every year it is the same excuse. At the rate they are going, do you think they can hold on to Matas Buzelis or even Josh Giddey?

After they broke up

Editor: Francine Medina

Inside the PHL’s push for smarter, seamless tourism

The agency sees 2026 as a strong year for Philippine tourism, citing continued infrastructure improvements, rising service standards, and stronger environmental protections.

By John Eiron R. Francisco

THE Philippines has never lacked reasons to be visited. Its appeal lies in lived experiences, coastlines shaped by time, cultures rooted in place, and warm hospitality that comes naturally.

For many travelers, however, the journey calls for patience and planning. Moving between islands often means weighing schedules, routes, and costs, decisions that shape how frequently places are visited and how long travelers are willing to stay.

Over time, these considerations have subtly influenced the way the country is explored, both by foreign visitors and by Filipinos themselves.

February 9, 2026

FORWARD IN 2026: THE SHAPE OF THINGS TO COME

OTourism officials said these realities are now being addressed more deliberately. Beyond destination campaigns, conversations are unfolding with transport agencies, infrastructure planners, local governments, and other involved agencies to improve connections between regions and ease the flow of travel.

During the opening ceremonies of the ASEAN Tourism Forum 2026 in Cebu,

REAL ESTATE SEEN ENTERING INVESTMENT-DRIVEN PHASE IN 2026

“Real estate has always been proven to go up…the cheapest vehicle against inflation is real estate. The increase of property price is much more than inflation,” says real estate consultant Eric Manalo.

By Justine Xyrah Garcia

PHILIPPINE real estate is expected to remain subdued but more selective in 2026, as industry figures say buyers are increasingly approaching property as a long-term investment rather than a lifestyle-driven purchase.

Market participants said the shift reflects a more cautious environment shaped by elevated borrowing costs, slower absorption in some property segments, and lingering oversupply in parts of Metro Manila. While demand has not disappeared, they said buying decisions are increasingly anchored on affordability, location, and longterm viability.

Speaking at a recent industry briefing, global real estate consultant Eric Manalo said inflation and currency risks have pushed buyers—especially Filipinos abroad—to reassess property as a store of value.

He said real estate continues to appeal to long-term buyers because of its ability to preserve purchasing power over time.

“Real estate has always been proven to go up…the cheapest vehicle against inflation is real estate. The increase of property price is much more than inflation,” said Manalo.

This view aligns with a recent outlook by Santos Knight Frank, which said real estate continues to stand out as a long-term investment amid shifting economic conditions. The firm said demand in the Philippine office market remains supported by business process outsourcing firms and traditional occupiers, while the industrial sector continues to expand on the back of manufacturing, logistics, and warehousing growth.

However, for his part, Manalo acknowledged that the same inflationary pressures have made it harder for first-time buyers to enter the market. Higher interest rates have raised monthly amortizations, while rising construction and operating costs have kept prices elevated.

These factors, he said, have contributed to persistent buyer backouts across the industry.

Backout rates—often ranging from around 35 percent to as high as 60 percent—are not necessarily a sign of weakening demand. Instead, he attributed most cancellations to buyers overstretching their finances.

“The golden rule is buy what you can afford… Don’t go beyond that. Otherwise, it will cause financial challenges and eventually you might back off,” Manalo said.

Despite policy rate cuts by the Bangko Sentral ng Pilipinas (BSP), borrowing costs for homebuyers remain elevated, with industry leaders saying mortgage rates still hovering around 7 to 8 percent for five years. Macro

of

adjustment across several property segments, as the sector continues to normalize following the pandemic and the exit of Philippine offshore gaming operators (POGOs), which had previously driven demand in some office and residential locations.

Joey H. Bondoc, Colliers Philippines’ Director for Research, said the pace at which unsold condominium inventory is being absorbed has improved over the past year, even as vacancies remain elevated in certain areas.

He cited estimates showing that the inventory life of unsold condominium units in Metro Manila has declined to about 7.9 years, down sharply from around 13.4 years earlier in 2025— nearly a halving of the time needed to clear existing stock.

The improvement reflects slower project launches, stronger take-up of ready-for-occupancy units, and more aggressive pricing and payment terms from developers, Bondoc said.

Office market data show a similar pattern of adjustment. Vacancy rates across Metro Manila remain close to 20 percent, with higher levels recorded in non-core districts and areas previously dominated by POGO tenants.

In the residential secondary market, vacancy rates average about 25 percent, rising to nearly 60 percent in the Bay Area, underscoring the uneven nature of the recovery.

Bondoc said the current conditions reflect the cyclical nature of real estate, where periods of rapid expansion are followed by consolidation.

“We need to go back to basics and realize that the Philippine property is cyclical in nature. So, if they are up, they will be down… If you’re an investor, you also need to diversify. If you have a condominium unit right now, you want to hedge against inflation, you probably look for lock-only projects in…where there will be price appreciation potential,” he added.

Taken together, the data presented point to a market that is adjusting rather than expanding.

With unsold inventory taking years to clear and supply being managed more cautiously, property purchases heading into 2026 are being evaluated more carefully—reinforcing a shift toward an investmentdriven approach focused on fundamentals rather than momentum.

A

How demographics, digital health and prevention will shape healthcare in 2026

The goal is to create an environment where clinicians can perform at their best, patients receive world-class care and families are spared unnecessary expenses.

By Anne Ruth Dela Cruz

DEMOGRAPHIC shifts, rapid technological advancements and evolving patient expectations are reshaping how hospitals will deliver care in 2026. For premier institutions like Asian Hospital and Medical Center, the challenge and opportunity lie in balancing cutting-edge clinical excellence with accessibility, sustainability and long-term wellness.

In an interview with Business-

Mirror, Dr. Beaver Tamesis, Asian Hospital’s President and CEO, said one of the drivers of change is demographic change with a growing number of senior citizens.

“The baby boomers are really growing in numbers and they are starting to now tap into healthcare because all their non-communicable diseases (NCDs) are coming out, NCDs like heart disease and cancer.

And this is the reason why we have a lot of investments in these spaces,’ Dr. Tamesis explained.

Efficiency in operations

While dealing with an ageing population, hospitals are also looking into efficiency without compromising outcomes. Hospitals are now designing care pathways that shorten inpatient stays and accelerate recovery. Procedures that once required prolonged confinement—such as knee replacements—are now geared toward early ambulation.

“Why keep patients confined longer than necessary?” Dr. Tamesis said, adding that shorter hospital stays reduce infection risks and ease the financial burden on families

BANKING

while allowing patients to recover in the comfort of their own homes.

Another major force shaping the healthcare landscape is the expanded role of the PhilHealth or Philippine Health Insurance Corp. Improved benefit packages, particularly for coronary and emergency care, are significantly reducing out-of-pocket expenses for patients. At Asian Hospital, for example, the Emergency Room serves on the average 60 patients a day, all cases of which are fully reimbursable by PhilHealth.

Operational discipline

However, this also demands a higher level of operational discipline. Accurate, systematic documentation of procedures, materials and processes have become critical.

“If data is complete and correct, reimbursement for the hospital flows more smoothly,” Dr. Tamesis emphasized, underscoring the need for hospitals to invest not just in clinical care but also in systems, training and compliance.

Digital transformation and artificial intelligence are expected to play an even bigger role in healthcare this year. However, Dr.

Tamesis stressed the importance of thoughtful implementation. AI tools are proving valuable in areas such as chest X-ray and ECG interpretation, helping speed up diagnoses and support clinicians.

He stressed though that not all AI is created equal. “You have to know where the AI was trained,” he said, citing the importance of tools that can distinguish between diseases common in the local setting such as tuberculosis or TB as against cancer. Beyond diagnostics, AI is also being explored for patient-facing services like appointment booking and basic inquiries, improving convenience and access.

Security investment

Cybersecurity is also becoming a non-negotiable investment as Dr. Tamesis revealed that Asian Hospital has been the subject of cyberattacks.

“We need to have top-level secu-

rity in this. That’s a lot of money to invest in security but it has to be done. We need this so that taking are of the patient is seamless and everybody involved in the care of the patient can see what’s going on and intervene when necessary,” he explained.

Medical inflation, which often outpaces general inflation, remains one of the industry’s toughest challenges. Advanced in technology and materials improve outcomes but also drive costs upward. Dr. Tamesis is clear that cost containment cannot come at the expense of quality or professional expertise.

Instead, hospitals are focusing on eliminating waste, improving operational efficiency and optimizing length of stay. The goal is to create an environment where clinicians can perform at their best, patients receive world-class care and families are spared unnecessary expenses.

Backbone Healthcare workers are the backbone of the healthcare industry and workforce retention continues to be a priority. During the pandemic, many Filipino nurses sought opportunities abroad and Asian Hospital responded by strengthening training, career laddering and skills development.

By offering structured rotations, simulation-based training, and clear professional growth pathways, the hospital has positioned itself as a “destination first job” for new nurses. “After three years, they become highly skilled and globally competitive,” Dr. Tamesis explains.

This approach not only benefits the nurses but also ensures continuity of care and the training of the next generation.

Perhaps the most profound shift heading into 2026 is the growing emphasis on preventive and

Riding through the profitability of banks

Digital banks are seen to shift from customer acquisition to profitability and loan portfolio expansion.

By Andrea San Juan

which

include “slower credit demand from businesses, rising exposure to consumer lending (especially credit cards and personal loans), and potential asset-quality pressures if growth stays weak.  In addition, the local think tank’s senior research fellow said the volatility of Philippine peso, global rate uncertainty, and

patient-centered care. Traditionally focused on complex tertiary and quaternary services, hospitals like Asian Hospital are now expanding their role in primary care and community health.

Through education campaigns, vaccination programs, and partnerships with local governments, the hospital is working to address risk factors such as high cholesterol and hypertension before they lead to serious illness. Digital tools, online resources, and AI-driven education platforms are also being explored to help patients manage their health at home.

“This requires a real mindset shift,” Dr. Tamesis says. “Tertiary care will always be important— but prevention and primary care are just as critical if we want better long-term health outcomes for Filipinos.”

PH IT-BPM still in demand, revenues seen nearing $42B this year

The shift in AI-powered tools has expanded the global BPO talent pool, eroding what was once a key advantage held by a small group of English-speaking countries such as the Philippines.

By Justine Xyrah Garcia

EVEN as global companies tighten belts and shop around for cheaper destinations, the Philippine information technology and business process management (ITBPM) industry is still very much being courted, with revenues expected to approach $42 billion this year on the back of sustained investor demand.

IT and Business Process Association of the Philippines (IBPAP) President Jonathan “Jack” R. Madrid said that the industry remains “cautiously optimistic,” pointing to steady investor inquiries and expansion plans from existing locators despite the uncertain global environment.

While he clarified that the $42-billion figure is his personal estimate and not an official industry projection, Madrid said current indicators suggest the target is within reach.

“That is not an official projection but with some certainty, I think we’ll approach that number,” Madrid told reporters in a recent press briefing.

Madrid’s projection remains in line with IBPAP’s Philippine IT-BPM Industry Roadmap 2028 where the the baseline targets for 2026 are $42 billion in revenues and 1.97 million in headcount.

Under the roadmap’s highergrowth scenario, the industry is expected to reach 2.5 million jobs and $59 billion in revenues by 2028, positioning IT-BPM as one of the country’s largest sources of export earnings and private-sector employment.

Looking beyond the industry’s medium-term targets, Madrid said sustaining growth will hinge on addressing long-standing domestic constraints, starting with the ease of doing business.

He stressed that foreign firms—which make up the bulk of IT-BPM locators—chose the Philippines based on expectations of a stable business environment.

Any friction, from regulatory inconsistencies to high electricity costs, directly raises operating costs and weakens the country’s competitiveness.

“Let us be concerned about the ease of doing business…Let us strengthen our infrastructure because the bulk of our growth ever since the pandemic started has been outside Manila… So let us leverage and take advantage of our countryside and diversity,” Madrid said.

Equally important, he added, is ensuring a steady supply of employable talent as IT-BPM work shifts toward more complex, non-voice, and knowledge-based services. While the private sector has invested heavily in training and upskilling, Madrid said sustaining growth will require a deeper and more reliable talent pipeline.

That concern was echoed by Asian Institute of Management economist Jamil Paolo S. Francisco, who earlier said that the deeper challenge for the IT-BPM sector lies in the country’s human capital.

“Even more important than physical infrastructure is the human capital infrastructure, the education…And that is really the only way we can ensure that our IT-BPO sector will be competitive in the future, and also how we can achieve prosperity,” Francisco told

BusinessMirror

Tightening competition

While domestic conditions shape investor decisions, external pressures are also mounting as more countries aggressively position themselves as alternative outsourcing hubs.

The Contact Center Association of the Philippines (CCAP) earlier said that the rapid adoption of artificial intelligence (AI) has lowered traditional language and accent barriers in the global BPO market.

With AI-powered tools now able to neutralize accents and

improve speech clarity, more countries—including those in Eastern Europe, Latin America, Africa, and Southeast Asia— have become viable locations for voice-based and customer-facing services.

This shift has expanded the global BPO talent pool, eroding what was once a key advantage held by a small group of Englishspeaking countries such as the Philippines.

Madrid said Vietnam has emerged as a more serious competitor due to its strong education system and technical talent base, while near-shore destinations such as Colombia and Costa Rica continue to attract US firms because of time-zone alignment and language advantages.

Despite this, Madrid said the Philippines remains firmly positioned as a global IT-BPM leader.

“I think we need to leverage on that. We don’t need to introduce the Philippines. The Philippines is already known. We are a world leader in ITBPM,” Madrid said.

Madrid added that addressing long-standing issues related to the ease of doing business and talent availability will be key to ensuring the country can “continue to protect our market share in the years ahead.”

“Any support from the government, of course, will be very much welcome. Because that will help optimize total costs. We have to remember it’s no longer just India and the Philippines,” Madrid also said.

AUTOMOTIVE

Holding steady: PHL auto industry’s electrification, new leadership shape sector

THE second half of 2025 may have presented challenges. Nevertheless, CAMPI reported growth was supported by expanded product offerings, improved availability of vehicles, and a shift toward electrification and commercial models.

By Bless Aubrey Ogerio

THE local automotive sector continues to grow, even as most vehicles sold and produced in the country remain dominated by foreign brands, particularly from Asian manufacturers, mirroring trends across ASEAN.

Industry data from the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA) show total vehicle sales in 2025 reached 491,395 units, slightly below the 500,000-unit target.  Despite challenges, including supply constraints and weakening policy support, CAMPI officials expect the market to recover in 2026.

Industry priorities

JING Atienza, executive vice president of Toyota Motor Philippines, was elected president of CAMPI on January 27, succeeding Rommel Gutierrez after 14 years. For Atienza, his focus will be on sustaining the chamber’s long-term vision, strengthening industry partnerships, supporting technological innovation, and promoting road safety and sustainable mobility.

CAMPI represents 29 member companies accounting for 95 percent of the country’s automotive market. Among its key priorities is the adoption of electrified vehicles.

According to CAMPI, 28,102

electrified units were sold in 2025, comprising 6.68 percent of total vehicle sales.

Hybrid electric vehicles led the segment with 22,027 units, followed by battery electric vehicles at 4,261 and plug-in hybrid electric vehicles at 1,814, the latter showing the fastest growth with a 216 percent monthon-month increase.

The chamber has also

expressed support for programs such as the Comprehensive Automotive Resurgence Strategy (CARS), the Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) program, and the Electric Vehicle Incentive Strategy (EVIS), which are aimed at boosting competitiveness and encouraging sustainable mobility.

Yet, constraints   DESPITE these initiatives, the sector faces uncertainties as government support for critical programs has weakened.

Funding for the CARS and RACE programs was removed from the 2026 national budget, raising concerns about continuity at a time when countries in the region are actively courting

Inside the PHL’s push for smarter, seamless tourism

She also pushed for the monthly publication of an airfare price index to ensure transparency and appealed to the Civil Aeronautics Board to strictly enforce pricing guidelines and fare ceilings.

The tourism chief added that while airfare costs remain a concern, not all flights to popular Philippine destinations are priced at premium levels.

Earlier in January 2025, the Philippine Travel Agencies Association (PTAA) likewise acknowledged the perception among Filipinos that domestic hotels, tours, and tickets tend to be more expensive than those in destinations such as Thailand or Vietnam.

In response, the group said it is in discussions with government agencies and is preparing a position paper focused on taxation, as part of efforts to help reduce costs across the travel sector.

The country, however, recorded 6.48 million inbound visitors in 2025, including foreign tourists and returning overseas Filipinos, generating an estimated P694 billion in tourism receipts.

Based on Bureau of Immigration data, foreign visitor arrivals reached 5,940,975, including cruise passengers and other categories not fully captured in the eTravel system. An additional 543,085 arrivals were returning overseas Filipinos, bringing total inbound arrivals to 6,484,060.

Figures from the state tourism website showed South Korea remained the Philippines’ largest source market with 1.35 million arrivals, or 20.76 percent of total foreign visitors, despite an 18.49 percent year-on-year decline. The United States followed with 1.32 million arrivals, accounting for 20.41 percent of the total and posting 6.73 percent growth.

Australia and Canada recorded 359,646 and 333,136 arrivals, respectively, both posting double-digit growth, while India logged 104,994 arrivals and one of the fastest growth rates at 33.64 percent.

European markets also posted gains, led by the United Kingdom with 228,425 arrivals and France with 98,858. In contrast, arrivals from China fell 14.27 percent to 237,101, while several ASEAN and other Asian mar-

kets recorded flat or negative growth, highlighting ongoing competitiveness and connectivity challenges.

Nevertheless, the 2025 World Travel and Tourism Council (WTTC) Economic Impact Report positioned the Philippines among Southeast Asia’s strongest tourism economies.

Tourism GDP reached USD 91.8 billion, surpassing regional peers such as Indonesia, Thailand, and Singapore. The sector also accounted for approximately 11.22 million jobs, 23 percent of national employment, and contributed 19.9 percent to the country’s economy.

A sectoral review by the Philippine Institute for Development Studies (PIDS) shows that while stronger promotions, product development, and gradual improvements in tourism infrastructure have helped drive recovery, long-standing issues—particularly inter-island connectivity, service quality, and overall destination readiness—must be addressed to sustain growth and ensure that tourism development remains competitive, inclusive, and sustainable.

The study noted, “Boosting the Philippine tourism sector’s competitiveness and resilience requires a holistic strategy that not only

responds to global trends but also internalizes social, environmental, and economic priorities.”

It added that the focus should move beyond short-term recovery toward long-term transformation, driven by climate resilience, digital innovation, and inclusive governance. This, the study said, requires strong public-private coordination, capacity building, and sustained policy reforms.

PH Travel Set for Lift-Off

Moreover, according to Frasco, efforts to improve infrastructure are already underway to support the travel industry. These include ongoing upgrades to local and international airports, the construction of tourist rest areas, the establishment of the country’s first tourist assistance call center, and the launch of a medical tourist concierge.

The government has earmarked a total of P7.8 billion for the upgrade of 19 airports nationwide. The funding is part of the 2026 General Appropriations Act (GAA) and aims to enhance inter-island connectivity, passenger experience, and regional economic growth.

Among the airports set to re-

automotive investment.

The CARS program had been allocated P4.32 billion, while RACE was to receive P250 million under unprogrammed appropriations.

Both programs have supported production volumes for companies, including Mitsubishi Motors Philippines Corp. and Toyota Motor Philippines Corp.

The Automotive Industry

ceive funding are: New Dumaguete Airport (P2.5 billion), Tacloban Airport (P741.7 million), Mati Airport (P700 million), Laoag International Airport (P507.3 million), New Naga Airport (P444.6 million), Ormoc Airport (P433 million), Busuanga Airport (P415 million), Candon Airport (P350 million), New Manila International Airport (P200 million), Catbalogan Airport (P200 million), Kalibo International Airport (P195.5 million), Camiguin Airport (P150 million), Bukidnon Airport (P150 million), Daet Airport (P150 million), Bicol International Airport (P150 million), Central Mindanao (M’lang) Airport (P100 million), Siargao Airport (P100 million), Antique Airport (P99.5 million), and Cauayan Airport (P160 million for night-rating).

Some airports will receive additional funding for night-rating improvements, which equip them with lighting, navigation, and safety systems to allow operations during nighttime or low-visibility conditions.

The DoTr said the funds will cover construction and improvements to runways, taxiways, ramps, control towers, and passenger terminals, as well as the acquisition of navigation and safety equipment.

The department is also advancing road infrastructure, targeting the completion of key sections in SLEX, CALAX, the Cavite-CALAX Link Expressway (CCLink), C-5, and Skyway Stage 3 to make land travel faster and more convenient for motorists.

A Strong Outlook for 2026

The agency sees 2026 as a strong year for Philippine tourism, citing continued infrastructure improvements,

Workers’

noted that the removal of these subsidies could affect industrialization, competitiveness, and employment.

Overall, P4.7 billion in planned government support for vehicle manufacturing was omitted from the final budget.

Atienza said CAMPI will continue advocating a technology-neutral approach to reduce carbon emissions. This includes exploring renewable energy, carbon-neutral fuels, and international partnerships to adopt global best practices in the circular economy and sustainable mobility.

Still holding on

THE second half of 2025 may have presented challenges, including the reimposition of excise taxes on pickup trucks and supply disruptions caused by natural disasters.

Nevertheless, CAMPI reported growth was supported by expanded product offerings, improved availability of vehicles, and a shift toward electrification and commercial models.

Atienza said new product introductions and promotional campaigns were key factors in sustaining sales last year.

“We attribute last year’s achievement to aggressive promotional campaigns and new models that expanded consumer options,” he said.

Looking ahead, the chamber projects that the industry’s growth in 2026 will be driven by electrification, clean mobility, and continued partnerships among manufacturers, even as policy gaps and market uncertainties remain.

rising service standards, and stronger environmental protections.

The tourism experience itself is also becoming more digital. Travelers can expect wider adoption of contactless booking and e-payment systems, interactive destination maps, and virtual or augmented reality previews— tools that align the Philippines more closely with global travel trends. At the same time, demand for cultural immersion is expected to grow, supported by the DOT’s push for heritage and community-based tourism. Destinations such as Ifugao, Bohol, and Vigan are positioning themselves for deeper cultural engagement, while Filipino food, crafts, and festivals—including Ati-Atihan, Sinulog, and Pahiyas—are gaining increased international visibility. Despite the rise of emerging destinations, established favorites such as Boracay, El Nido, and Coron continue to anchor the country’s tourism appeal, particularly for beach and island travel.

This 2026, the tourism chief said the Philippines will intensify its global ‘Love the Philippines’ campaign while implementing initiatives to boost tourist spending and lengthen visitor stays.

On January 27, Frasco outlined initiatives at the 5th Meeting of ASEAN Plus Russian Federation Tourism Ministers to attract more Russian visitors. These include chartered flights, expanded destination options, Russian-language training for tour guides, and travel-study programs that combine leisure with learning.  She framed the efforts as part of a broader strategy to rebuild confidence in travel and strengthen people-to-people ties.

A BusinessMirror Special Feature

As summer approaches, power players race to keep up with demand

The DOE said last month that Luzon has adequate power supply. However, the same may not be the case for Visayas and Mindanao.

By Lenie Lectura

THE power industry braces for yet a challenging summer that is normally characterized by high electricity demand and tight supply, a situation to which stakeholders are already accustomed.

Initial forecast released by the National Grid Corporation of the Philippines (NGCP) has it that demand in Luzon will likely go up by 13.32 percent, 12.34 percent in Mindanao, and 24.12 percent in Visayas as against last year’s actual demand.

In 2025, the Luzon grid recorded a peak demand of 13,839 megawatts (MW)  in April. For Visayas and Mindanao peak demands, the numbers reached 2,691MW in June and 2,682MW in July, respectively.

“Demand is increasing. Actually, the projected peak was already breached. We have seen every year that demand for power increases. The question now is how fast is the rate of increase going up, but it will always increase. The same drivers apply such as population, increase in economic activity and development, etc..,” NGCP spokesperson Atty. Mutya Alabanza said.

Based on NGCP’s Grid Operating and Maintenance Program (GOMP), a three-year forward-looking plan detailing maintenance schedules for power plants and transmission facilities, the government does not allow any plant maintenance outages during the summer months. For Luzon, this period is from April to June. The only plant type that is

DOF’s

exempted from this policy set by the Department of Energy (DOE) is hydro power plant.

Thus, for the Manila Electric Company (Meralco), it does not expect any plants in its franchise areas to go on maintenance outage.

“In terms of demand in the Meralco franchise, historically, we experience a 20-percent increase in demand from February to May, which are the typical months when demand is at its highest within Meralco,” said Meralco utility economics head Lawrence Fernandez in an interview.

In terms of MW, the 20 percent would be equivalent to around 1,800MW increase in demand from the first quarter to the second quarter. “Meralco peak demand was around 7,500MW during the first quarter of 2025, which increased to around 9,100MW by summer,” said Fernandez.

Meralco serves over eight million customers across 39 cities and 72 municipalities in Metro Manila, Rizal, parts of Bulacan, Cavite, Laguna, Batangas, Quezon, and Pampanga. Its franchise area covers only three percent of the country’s total land area but accounting for 55 percent of its electricity output.

“So far this January and February, 2026 demand has been generally the same as 2025. Given this, Meralco peak during summer may be around the same as in 2025,” added Fernandez.

The DOE said last month that Luzon has adequate power supply.

However, the same may not be the case for Visayas and Mindanao.

“For Luzon, there should enough power supply. It’s more in the Visayas area. Visayas, because of the problem in Visayas, then Mindanao will be affected because they export power to Visayas. But we do have programs in place also to make sure that there won’t be any blackouts in Visayas,” DOE Secretary Sharon Garin said.

Challenges in the South

The Visayas grid imports most of its power requirements from Luzon and Mindanao via the VisayasMindanao interconnection project. Therefore, any power supply issues in Luzon or Mindanao may immediately impact Visayas supply.  Garin cited energy conservation, interruptible load program

(ILP), power reserves from solar rooftop and diesel bunker as measures to address power supply problems. “The whole DOE is working on it.  We’re actually assessing the schedules of the planned outages so there will be no problem in Visayas.  We’re actually overhauling our energy outlook putting in more assumptions and recalculating everything,” Garin said. ILP is an energy demand-side management program through which large-load customers are asked to use their generator sets or shift their operations, instead of drawing power from the grid, to spare households from power interruptions during instances of red alert or when supply is insufficient to meet the demand.

As of January 20, 2026,  there are 105 companies with 524.38

MW of total de-loading capacity enrolled in the ILP program within the Meralco franchise area. Fernandez said Meralco continues to encourage more businesses and industrial establishments to participate in the government’s ILP. “Meralco has lined up a forum in the coming weeks to invite more customers to join,” said Fernandez, who added that Meralco has been consistently empowering consumers to embrace energy efficiency as a way of life.

Meralco recently sourced seven percent of its power requirements from the Wholesale Electricity Spot Market (WESM), 71 percent from various power supply agreements, and 22 percent from Independent Power Producers.

WESM operator, Independent Electricity Market Operator of the Philippines (IEMOP), shared the same power situation outlook.

“When it comes to the Visayas, we’re seeing an issue because it has become primarily dependent on Luzon and Mindanao,” IEMOP vice president for trading operations Isidro Cacho had said.

Marked safe

Luzon, for now, is marked safe with the entry of additional capacities from new and existing power plants.

“The Sta. Rita plant has contributed to energy security through the frequent operation of its available units at full capacity, providing the needed increase in supply and stabilizing WESM prices.

The Commission is cognizant that the reliable and flexible capacity offered by the Sta. Rita Plant is much needed during the summer months. It is thus imperative that the power grids maintain sufficient capacity available to avert yellow/red alerts, power interruptions, or worse, widespread outages,” the ERC ruled. Moreover, the country expects a surge in RE capacity, possibly over 7,000MW, to come online or reach significant development this year. These will be produced by ACEN Corp., Citicore Renewable Energy Corp., Alternergy Holdings, Corp., Aboitiz Power Corp., Meralco PowerGen, and Energy Development Corp., among others.

The capacity additions do not include energy storage of over 1,000MW meant to support the intermittent nature of solar and wind energy.

But there could be challenges along the way as industry players anticipate a weak peso, grid instability, delays in infrastructure and permitting, and natural disasters, among others. For now, the power demandsupply is stable, with sufficient capacity despite rising consumption.

“We hope that summer won’t be like what was experienced in 2024, when extreme heat was recorded so much so that we had numerous yellow and red alerts,” added Cacho. Cacho’s pronouncement on Luzon’s adequate supply was based on, among others, the power supply contract of Meralco with a major gas-fired power plant that was recently approved by the Energy Regulatory Commission (ERC).

constant refrain: Fiscal discipline, smart spending

To further maximize collections, the BIR is relying on digitalization and compliance tools, as well as real-time monitoring and analytics, to plug tax leakages.

By Reine Juvierre S. Alberto

As the Philippines recovered from the pandemic, it still boasted of being among the fastest-growing economies in Asia, which continued into 2025.

Until tariffs, geopolitical tensions, natural calamities, climate change and President Ferdinand R. Marcos Jr.’s flood control exposé dented economic growth.

This resulted in a full-year GDP growth of 4.4 percent—the slowest since 2011, and in turn, downward revisions of the government’s macroeconomic parameters assumptions and fiscal program.

Of the P4.824-trillion revenue target for this year, the country’s two main tax-collecting agencies will raise P4.434 trillion—an attainable target, according to Finance Secretary Frederick D. Go.

“I think their targets are achievable,” Go said. “I’m hopeful we will achieve those targets,” he said, when asked how the government will raise revenues in the wake of last year’s slower economic growth.

The Bureau of Internal Revenue (BIR) is expected to raise P3.579 trillion this year, while the Bureau of Customs (BOC) will collect P1.003 trillion.

BIR and

of

collections

sharing to protect the tax base.

and private investments will boost the collection of income taxes, value-added taxes and excise taxes.  Playing a critical role in the collection are administrative reforms. These includes the shift to digital and data-driven systems, risk-based audit selection, stricter audit reform and accountability measures, simplified compliance, as well as improved inter-agency data

To further maximize collections, Mendoza said the BIR is relying on digitalization and compliance tools, as well as real-time monitoring and analytics, to plug tax leakages.

Despite the optimistic outlook, Mendoza acknowledged that revenue performance remains vulnerable to both global and domestic economic uncertainties, as well as natural calamities, inflationary pressures that could dampen consumption, spending delays, and operational transition risks linked to

ongoing reforms.

Beyond revenue generation, Mendoza said the BIR will prioritize employee empowerment and welfare, continuous digital upskilling, and strengthening institutional capacity to sustain reforms and improve service delivery.

“The Bureau’s objective is to deliver service excellence and stronger stakeholder engagement by simplifying compliance, professionalizing audits, and boosting trust through transparent, fair, predictable and accountable tax administration aligned with inclusive growth and long-term fiscal sustainability,” Mendoza said.

At the BOC, Customs Commissioner Ariel F. Nepomuceno said the Bureau is focused on sustaining its early gains after surpassing its revenue target in the first month of the year.

“We are committed to sustaining this level of efficiency to support the President’s economic agenda and to exhibit the BOC’s ability of delivering reliable public service,” Nepomuceno said in an earlier statement.

The BOC will continue to intensify intelligence-based and highimpact enforcement operations in support of the government’s priorities on economic stability, public safety and good governance, Nepomuceno added.

At the start of the year, Nepomuceno has directed district collectors to ensure the consistent and effective delivery of the BOC’s core mandates, including strengthen-

ing revenue collection, advancing trade facilitation and intensifying enforcement to safeguard the country’s borders. He added that the Bureau’s priority framework, anchored on integrity, accountability and modernization, is aimed at building a customs administration that is transparent, efficient and responsive to national development needs.

Intact and on solid footing

Nearly three months into his post, Go has repeatedly assured that the DOF is committed to fiscal discipline and smart spending now more than ever. “This will be the DOF’s constant refrain from hereon,” he said during various speaking engagements.

This year, the budget deficit is seen to widen a bit to P1.611 trillion from last year’s P1.647 trillion. Disbursements, or government spending, is projected at P6.435 trillion and will outpace revenues estimated at P4.824 trillion.

For the first quarter of the year, Go said the government will ramp up its spending, with disbursements amounting to P1.44 trillion, to bounce back and lift the economy.   The Finance chief has also assured that the Philippine economy’s long-term fundamentals remain “intact” and on “solid footing.”

Not so fast

According to John Paolo R. Rivera, senior research fellow at the staterun think tank Philippine Institute

for Development Studies, achieving the BIR and BOC’s revenue targets will be “challenging but still feasible.”

Rivera told BusinessMirror that revenue targets will be met if economic activity stabilizes and collection systems continue to improve. Performance also hinges on import dynamics, digital tax collections and compliance efforts.

Michael L. Ricafort, chief economist at Rizal Commercial Banking Corporation, told this newspaper that improving tax collection efficiency has become more critical amid challenges brought about by the slower local economy.

Ricafort said there is also the need to further intensify tax revenue collections using existing tax laws, through greater enforcement, such as running after tax cheats, as well as to alleviate the governance standards on tax and other revenue collection government agencies to prevent leakages.

“There is urgency to maximize tax and other revenue collections by the national government to finance the budget deficit that increases the need to borrow more that, in turn, increase the outstanding national government debt to record-high levels as seen recently,” Ricafort said.  “Rather than new broad-based taxes, the national government should focus on strengthening tax administration, expanding the digital tax base, improving customs efficiency, and rationalizing fiscal incentives to protect revenues without dampening growth,” Rivera added.

TRAVERSING THE LONG ROAD TO FIND RELIEF FOR COMMUTERS

By Lorenz S. Marasigan

DEPARTMENT of Transportation (DOTr) Secretary Giovanni Lopez has pledged to expedite construction of flagship transport projects and ensure infrastructure spending “directly benefits Filipinos”—but experts say 2026 won’t bring operational improvements for commuters.

“Expect no big-changer for 2026,” said transport economist Rene Santiago.

Jose Regin Regidor, research fellow at the University of the Philippines (UP) Diliman’s National Center for Transportation Studies, agreed: “Medyo sad lang ang outlook this [year] particularly for Metro Manila.”

While the government emphasizes accelerated construction and budget efficiency, experts pointed out that major projects remain years from serving passengers.

Lopez has committed to expediting flagship projects, backed by a P74.5-billion infrastructure budget and pressured by President Marcos Jr.’s directive to accelerate delivery.

The DOTr’s “Big Bold Reforms” presentation highlights 2026 targets: completing the Kamuning Busway Station by first quarter, advancing Cebu Bus Rapid Transit (BRT), and finishing expressway sections including South Luzon Expressway (Slex) TR4, Cavite-Laguna Expressway (Calax), and C5 Link.

“We are very much committed to continuing our efforts to expedite the completion of all existing

projects and deliver them within the timeline,” Lopez said during the Big Bold Reforms Economic Forum. “Lahat po ng pondong inilaan para sa mga imprastraktura, diretsong mapakikinabangan ng mga Pilipino.”

But construction percentages of other projects indicate that they are years away from actually providing relief to commuters.

Railways, roads, buses

The Metro Manila Subway reached 25.57 percent completion as of November 2025. The Metro Rail Transit (MRT) Line 7 stands at 81.83 percent. The North-South Commuter Railway (NSCR) is at 35.42 percent.

None will serve commuters in 2026. “So no game changer for railways this year,” Regidor lamented.”This is because of the recent pronouncements that major projects like the Metro Manila Subway and MRT Line 7 won’t still be near completion or partial completion this year,” Regidor explained.

The government will likely celebrate the mid-2026 NSCR operations and maintenance publicprivate partnership (PPP) contract award—a P229-billion concession.

However, Santiago warned of “high risk of the government unable to comply with its PPP obligations.”

Meanwhile, the “precarious state of buses and jeepneys—already reduced in number—will persist,” Santiago said, warning the government will “crow about higher numbers of consolidated jeepneys—which

is the wrong metric.”

The Cebu BRT confronts what Santiago called “a make-or-break year,” with “funding from the World Bank” set to “vanish—after one or two extensions.”

For his part, Regidor is cautiously optimistic.

“Perhaps the Cebu BRT offers some hope. The government has stated that it should be partially operational this year and completed next year. Potentially, the Cebu BRT

can be a game changer for commuting there.” He said.

The project has dragged on for over a decade with costs ballooning from P17 billion to P28 billion. Partial operations in 2026 would represent the year’s most tangible public transport achievement outside Metro Manila.

The Edsa Busway shows incremental progress: Kamuning Station targets first quarter completion, with asphalt overlaying finished

from Roxas Boulevard to Orense.

For Davao’s Public Transport Modernization Project, designed to serve 800,000 daily passengers, Santiago predicted “some components might be completed—but operations of a new bus fleet to replace about 8,000 jeepneys won’t happen.”

Aviation, maritime

“For other modes, there are no new airports or ports so status quo for aviation and maritime,” Regidor

The DOTr’s “Big Bold Reforms” presentation highlights 2026 targets: completing the Kamuning Busway Station by first quarter, advancing Cebu Bus Rapid Transit (BRT), and finishing expressway sections. The

said. “The acquisition of new aircraft by local airlines are not really transport game changers. Same with newer vessels going into interisland or roll-on/roll-off services.”

According to Lopez, the government will soon inaugurate completed Laoag and Antique airports. He added that the government aims to complete the expansion of Siargao Airport’s terminal by April.

“Sangley and Bulacan airport initiatives won’t bear fruits in 2026,” Santiago noted.

The maritime sector delivered 15 ports to private bidders in 2025 with P4.5-6.0 billion investment. The Port of Jubang cruise facility targets first quarter 2026 inauguration.

Santiago said the outlook for the local maritime industry is “cloudy, coasting on a more-of-thesame trajectory,” with “no major investments in domestic shipping,” though “conglomerates are likely to expand their logistics operations.”

Gaps in execution

The DOTr’s 2025 performance reveals persistent implementation challenges. Of its P103.05-billion allocation, 90.57 percent was obligated but only 63.89 percent disbursed—nearly P40 billion allocated but not spent.

Lopez insisted that the 2026 budget will be “spent efficiently to make sure our projects truly address the needs of our commuters,” emphasizing that “we want to ensure the public and our investors that the budget will be spent efficiently.”

A season of ‘slower than growth’ expectations

By Ada Pelonia

INTERNATIONAL prices for commodities being traded by the Philippines are projected to decline in 2026 pressured by improving global supply prospects, according to the World Bank.

In its latest market outlook report released last October, the World Bank expects the average quotations for farm products to edge down this year due to “strong supply conditions,” with risks to these projections tilted to the downside.

Such downside risks include “weaker-than-expected global growth, a longer-than-assumed period of economic policy uncertainty, and additional oversupply of oil,” the organization said. A confluence of factors, however, could tip this forecast upward, such as weather-related shocks, geopolitical tensions, and dwindling supply arising from trade restrictions, among others.

Beverage

For one, the World Bank expects the average quotations for coffee varieties—arabica and robusta—to fall this year, easing from previous highs earlier in 2025 due to weather-related shortfalls in production.

“as new capacity in East Asia and the Middle East comes online.”

The organization said a modest recovery in European output of the fertilizer could also occur, thus offsetting the shortage of inbound shipments from Russia.

“This follows a long period of subdued output due to the loss of natural gas flows after Russia’s invasion of Ukraine,” the World Bank said.

It also noted that upside risks to the baseline price outlook include slower capacity expansion, renewed trade restrictions, and higher natural gas prices.

quotations for base metals to remain firm in 2026, buoyed by demand growth amid tightening supply conditions.

For nickel, which the Philippines is the world’s second-largest producer of, the World Bank said price of the base metal will rebound to $15,500 per MT, from the previous slides as the demand-supply balance gradually tightens.

Aluminum prices are projected to inch up to $2,600 per MT, from $2,632 per MT due to “steady demand growth amid tighter supply conditions,” while copper prices might average to $9,800 per MT from $9,947 per MT, which reflects a balanced demand-supply condition.

The World Bank said lead prices would also remain

“Upside risks to the forecasts include weather related supply disruptions, particularly in Brazil, the leading global producer, and the potential impact of new U.S. tariffs on coffee imports from Brazil.”

The World Bank also expects cocoa prices to average $7.5 per kilo this year, following a ferocious rally the previous years that were

The organization said global coffee output will likely increase to 179 million bags in 2025-26, from the 174 million bags recorded in the 2024-25 season. With this, the World Bank forecasts arabica and robusta prices to reach $7.25 per kilo and $4.7 per kilo in 2026, respectively. These figures indicate a contraction from the $8.47 per kilo and $4.86 per kilo registered in the previous year.

sparked by a global supply crunch from top-producing regions in West Africa.

The supply increase in the key chocolate ingredient would be driven by a rebound in output in Ghana and Côte d’Ivoire, the largest producer, according to the organization.

“The price forecast is subject to downside risk from weather-related developments, particularly if La Niña conditions in West Africa prove more favorable to production than expected.”

Coconut oil, the Philippines leading farm export, is also projected to fall in 2026, with the

World Bank easing its forecast to

$2,254 per metric ton (MT) from the $2,480 per MT in the previous year. In 2025, the average price of the tropical oil hit record-highs due to tight global supply in top-producing countries.

Fertilizer

The World Bank also expects prices of fertilizers, which are crucial farm inputs imported by the Philippines, to decline this year due to new capacity easing supply pressures.

Urea quotations are projected to average $410 per MT from $422.7 per MT in the previous year,

“In the longer term, there are structural challenges to the supply of nitrogen fertilizers— given their high carbon footprint—which could accelerate a shift toward lower-emission alternatives such as biofertilizers, organic amendments, and regenerative farming technologies.”

Meanwhile, DAP prices are forecast to reach $650 per MT, from $685.2 per MT posted in 2025, according to the World Bank.

“The forecast assumes that Russia will continue diverting exports from Europe to Brazil and India, although additional export restrictions, supply disruptions, or spikes in ammonia or natural gas prices could push DAP prices higher.”

Base metals

The World Bank, however, projects

and push prices below baseline projections,” the World Bank said.

“Upside risks to the price forecast for base metals include production disruptions, new trade restrictions, and faster-than expected expansion of data centers.”