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Saturday, January 3, 2026 Vol. 21 No. 83
GROUPS URGE PBBM: VETO PORK IN BUDGET
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By Rizal Raoul Reyes
HE Roundtable for Inclusive Development (RFID) and the People’s Budget Coalition (PBC) on Thursday urged President Ferdinand Marcos Jr. to veto what it called “shadow pork” in the form of unprogrammed appropriations worth P243 billion. PORKING AROUND THE BUDGET
₧243 B
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Investor-friendly land-lease law seen as a shot in the arm for FDIs
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HE Philippines may have just unlocked the doors to foreign capital inflow that can trigger an economic boom, according to a report in a foreign newspaper. A report published in Gulf News on January 2 says that by allowing 99-year land leases, the Philippines is “ready to rival” its neighbors in generating much-needed foreign investments The long-term lease is allowed under Republic Act 12252, which recently took effect after President Ferdinand E. Marcos Jr. signed the bill passed by Congress in September. RA 12252 amended the decades-old Investors’ Lease Act (RA 7652) and doubled the old 50-year cap on lease to foreign investors. Foreign investors may now lease lands for up to 99 years for industrial, tourism, agriculture, agroforestry and conservation projects. The new terms align more closely with those of other members of the Association of Southeast Asian Nations. The report said the new law is seen to “drive foreign
99
YEARS
The new maximum landlease period now allowed for foreign investors under Republic Act 12252. investments in energy, transportation, infrastructure, manufacturing—and, more importantly, in agriculture— as part of on-going reforms to raise the country’s status as an upper-middle income country [UMIC].” The report cited other investor-friendly provisions. Continued on A2
Unprogrammed appropriations, labeled by RFID and PBC as “shadow pork,” which the groups urged President Marcos Jr. to veto.
₧210 B
“Soft pork” allocations at risk of political patronage, including ayuda programs and confidential/intelligence funds.
₧180 B
“Hard pork” projects flagged for potential duplication, overpricing, or inefficiency, suggested for citizen monitoring.
Continued on A2
WELCOME, 2026 The first trading day of 2026 was off to a good start with the benchmark
BM Graphics: Ed Davad
The groups asked him also to minimize patronage in soft pork worth P210 billion by issuing an executive order for rules-based and rights-based guidelines to ayuda programs and confidential and intelligence funds, or otherwise putting these projects for conditional implementation and for later release. Likewise, the President was urged to cut the fat in hard pork by focusing citizen monitoring on P180-billion projects at risk of being repeat or overpriced projects and by issuing an executive order for a science-based and nature-based update of Department of Public Works and Highways (DPWH) manuals that influence around P600 billion in infrastructure projects. In a letter addressed to President Marcos, the two civil society organizations urged the Chief Executive to issue an executive order to transform more than P210 billion worth of patronage-driven ayuda programs into rights-based and rules-based programs, in consultation with allied health professionals and social protection experts. The group said this would include the P11 billion worth of confidential and intelligence funds (CIF) that must be used for legitimate surveillance and intelligence activities with stringent transparency and accountability requirements for release. “We support the calls of universal health care advocates to real-
EJAP JOURNALISM AWARDS
A CEREMONY OF REMEMBRANCE AND OBLIGATION Sir Harry Go, KR, is knighted by Philippine Consul General Senen Mangalile during the Knighting of Members and Induction of Officers of the Knights of Rizal, New York Chapter at the Philippine Center, Manhattan, on December 26. The ceremony, held to mark the 129th anniversary of José Rizal’s execution, emphasized service, patriotism, and the enduring legacy of Rizal—Non Omnis Moriar. Story on A2. TROI SANTOS
PSEi gaining 82.14 points or 1.4 percent to 6,135.06. Value turnover was at P4.36 billion. “The gain of 1.4 percent in the PSEi on the first day of trading augurs well for the much- awaited turnaround of our stock market in the coming year,” said PSE President and CEO Ramon S. Monzon. He traced the market mood to “the success of the administration in exacting accountability from the perpetrators of the corruption scandal and the institution of strong governance reforms.” In photo (from left): PSE Market Operations Division Head Marvin M. Refuerzo, Finance Division OIC Eliza S. Rodriguez, General Counsel Atty. Veronica V. Del Rosario, COO Atty. Roel A. Refran, President and CEO Monzon, Issuer Regulation Division Head Atty. Marigel M. Baniqued-Garcia, Technology Division Head Philip A. Driz, Securities Clearing Corporation of the Philippines COO Renee D. Rubio, and Capital Markets Development Division Head Mark Frederick V. Visda. PSE
Filipino-American airman saves family in California Christmas crash Humble hero
By Malou TalosigBartolome
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FILIPINO-AMERICAN US Air Force staff sergeant is being hailed as a hero in US media after rescuing a couple and their dogs during a Christmas Day accident on a snow-covered mountain highway leading to Lake Tahoe, California. Staff Sgt. Ruben “RJ” Tala, based at Travis Air Force Base, was traveling with his wife, Yvett Bañares-Tala, and their 22-monthold daughter when he saw the SUV in front of them spin out of control. The vehicle skidded on thick snow and came to rest precariously, teetering on the edge of a hundred-foot cliff. A fallen tree pressed against the passenger side was the only thing keeping it from plunging down the mountainside. “During the day we were excited to go there, no. We like snow. And then that thing happened,” Tala recalled in an interview with Sacramento television KCRA-TV. “When I saw that car spin out, I thought about my wife and daughter. What if there’s a family in that car? Somebody has to help.”
A split-second decision
TALA rushed to the SUV and gripped its door as it dangled over the slope. Yvett later described the dan-
FILE photo of SSgt Ruben Tala, wife Yvett Bañares-Tala and daughter Luna @CAMP.TALA IG
SCREENSHOT of a dash cam video on the dramatic rescue of a couple whose SUV spun out of control on a steep ledge on Christmas Day in Highway 50 in Northern California. YVETT BAÑARES-TALA
ger: “One wrong move, he can be with that car tumbling all the way down to the slope.” Drawing on his Air Force training, Tala quickly assessed the situation. “Based on my training, I was used to this kind of highpressure situation, always putting safety first,” he told BusinessMirror. “I realized the safest way to extract the passengers was to tie the car to a metal post on the side of the road
before pulling them out.” Several good Samaritans joined him, forming a human chain to stabilize the vehicle. One motorist ran back to his truck to fetch a rope, while three others held Tala’s hand to keep the SUV from sliding further. With their help the couple, both in their mid-30s, and their two Shih Tzu dogs were safely pulled from the vehicle.
In a poignant twist, one of the rescued dogs was named Luna— the same name as Tala’s young daughter.
A Filipino-American journey
TALA’S path to service reflects both his immigrant roots and his family’s values. Petitioned to the United States by his mother in 2015, he enlisted in the US Air Force the following year.
In 2019, he petitioned his wife, Yvett, who now works as a federal employee in the Air Force. Based at Travis Air Force Base in California, the couple has built a tradition of visiting Lake Tahoe every Christmas with their daughter to celebrate a “White Christmas.” That tradition became the backdrop for Tala’s split-second decision to help a family in distress.
Family’s pride
AFTER the rescue, Yvett shared her admiration in a heartfelt Facebook post: “RJ didn’t think twice about helping the family—he kept saying, ‘Someone has to help.’ Some might call it a heroic act, but my husband is the most humble person I know. Luna and I are forever proud of you, Papa!!!”
DESPITE widespread praise, Tala insists he does not consider himself a hero. “I’m just doing my part to help somebody else,” he said. “No. That’s how we’re trained in the Air Force. We help somebody when they need help. No matter the situation.” Tala emphasized that the rescue was a collective effort, crediting the motorists and responders who rushed to assist. “Without the help of Good Samaritans and my wife, I wouldn’t be able to do that by myself,” he told the BusinessMirror.
Community praise
LT. Col. Jason Christie of the 60th Force Support Squadron commended Tala’s bravery: “SSgt Tala and Yvett’s quick action and bravery are a direct reflection of our core value of service before self. We’re proud to have them as teammates and witness them ready to help anyone in need.”
A holiday miracle
THE snow was thick along the mountain highway that day, and authorities reported multiple accidents in the area. For one family, Tala’s instinct, training, and courage—joined by the quick actions of fellow motorists—turned a potential tragedy into a holiday miracle.
PESO EXCHANGE RATES n US 58.7900 n JAPAN 0.3753 n UK 79.2195 n HK 7.5524 n CHINA 8.4058 n SINGAPORE 45.7332 n AUSTRALIA 39.2188 n EU 69.0547 n KOREA 0.0407 n SAUDI ARABIA 15.6769 Source: BSP (January 2, 2026)