BusinessMirror January 08, 2026 by BusinessMirror

Peso hits new low of ₧59.355 on strong $ T

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HE Philippine peso plunged to another record low of P59.355 on Wednesday on bets of local monetary policy easing and a stronger greenback. Based on data from the Bankers’ Association of the Philippines (BAP), the local currency closed at P59.355 against the US dollar, down by 14 centavos from its previous finish of P59.21. This is now the weakest level that the peso reached since the P59.22 recorded on December 9. The peso opened at P59.24 and traded from a low of P59.2 to a high of P59.38. “The peso weakened anew after the Bangko Sentral ng Pilipinas [BSP] signaled a potential rate cut

in February, which could further narrow domestic and US rate differentials,” a trader said. The peso might continue to remain weak ahead of the US labor reports later this week, with exchange rates moving between P59.20 and P59.45 per dollar, the trader added. SM Investments Corporation group economist Robert Dan Roces said the peso reaching a new record low is largely a story of a firm US dollar strength and shifting rate expectations at home. “With markets pricing in further BSP easing while US yields stay elevated, carry demand for the peso has weakened,” Roces said.

In the near term, Roces said the currency is likely to remain soft and trade around this area, with stability hinging on clearer policy signals and sustained inflows from remittances and tourism. Meanwhile, Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co., said the peso weakened further as a knee-jerk reaction to the United States’ strike on Venezuela. BSP Governor Eli M. Remolona Jr. said this event has caused the peso to depreciate “a little bit,” but its short-term impact on the Philippine economy is “very small.” “Venezuela has the world’s largest oil reserves, but its exports

of oil is tiny relative to the whole export market,” Remolona said. “I think the big thing is still, time will tell what the motion in the country will be.” Remolona said the BSP could still reduce the key policy rate in February, but any further rate cuts beyond that are likely to be limited and would require a sharp slowdown in economic growth. (See: https://businessmirror. com.ph/2026/01/07/beyondfebruary-rate-cuts-to-be-limited-bsp/). “There’s a chance that we may cut some more. But there’s also a chance that we may not move at all,” Remolona said, adding that See “Peso,” A2

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END-NOV N.G. DEBT HITS ₱17.647-T RECORD HIGH www.businessmirror.com.ph

Thursday, January 8, 2026 Vol. 21 No. 88

P25.00 nationwide | 2 sections 22 pages | 7 DAYS A WEEK

By Reine Juvierre S. Alberto @reine_alberto

UTSTANDING debt of the national government reached a new record high of P17.647 trillion as of the end of November 2025, as the state incurred more obligations amid a stronger peso.

Latest data from the Bureau of the Treasury (BTr) showed that the government’s outstanding debt rose by 0.49 percent or P85.84 billion from the P17.562 trillion level at the end of October. The increase in liabilities was due to the net issuance of domestic and external debt, partly offset by lower valuations of foreign currency-denominated obligations due to the peso’s appreciation, the Treasury explained. Year-on-year, the debt stock expanded by 9.94 percent from P16.052 trillion. The current outstanding debt level already exceeds the government’s projection of P17.359 trillion in outstanding debt by 1.65 percent by the end of 2025. Broken down, 68.66 percent of the outstanding debt consisted of domestic debt, while the remaining 31.34 percent was sourced from foreign lenders. Domestic debt grew by 0.60 percent month-on-month to P12.117 trillion See “Debt,” A2

5,594 PASS 2025 BAR EXAMS Photos capture the full range of emotions—from disbelief and tears to quiet relief and jubilation—among examinees as the Supreme Court of the Philippines released the results of the 2025 Bar Examinations at its Manila headquarters. Of the 11,425 law graduates who completed the three-day tests held in September, 5,594 successfully passed, yielding a 48.98-percent passing rate under the 75-percent general average requirement set by the high court. This marks a notable increase from last year’s results. The official list of passers and topnotchers was announced by Bar chairperson Associate Justice Amy Lazaro-Javier, with oathtaking and roll signing scheduled for February 6 at the Philippine Arena. ROY DOMINGO

HIGHEST NUMBER OF FINISHERS IN PHL BAR; UP, UST GRADS LEAD By Joel R. San Juan

HAM SWEET HAM Overseas Filipino workers from Kuwait flash their brightest smiles after

receiving PCSO’s Charitimba gift pack and a kilo of ham upon arrival at NAIA Terminal 1 in Pasay City. The welcome was part of the “Bagong Taon Salubong sa OFWs,” a first-of-its-kind initiative by the Philippine Charity Sweepstakes Office in partnership with the Overseas Workers Welfare Administration, which extended holiday cheer and immediate assistance to more than 300 returning workers. PCSO General Manager Melquiades Robles and Chairman Felix Reyes personally led the distribution, underscoring the agency’s continuing commitment to Filipinos regarded as the backbone of the nation’s economy. NONIE REYES

TOTAL of 5,594 law graduates passed the 2025 regionalized and digitalized Bar examinations held last year. The number represents 48.98 percent of the 11,420 who took the three-day tests in 14 local testing centers across the country, the highest number of Bar finishers in Philippine Bar history. Jhenroniel Rhey Timola Sanchez, a law graduate from the University of the Philippines (UP), took the top spot with an

average of 92.7 percent while Spinel Albert Allauigan Declaro, a law graduate from University of Santo Tomas, landed in second place with an average of 92.46. The results showed six UP law graduates in the top 20, five from UST, two from the Ateneo de Manila University and two from the University of the East. The rest came from other schools. 2025 Bar Bar Examinations chairperson Associate Justice Amy C. Lazaro-Javier identified the other topnotchers as Alaiza See “PHL bar,” A10

DOLE: Jobless stats remain within target By Justine Xyrah Garcia

ESPITE a year-on-year uptick in unemployment, the Department of Labor and Employment (DOLE) said joblessness stayed within the government’s programmed range, signaling a steady pickup in economic activity toward the close of 2025. Labor Secretary Bienvenido E. Laguesma said employment conditions improved on a month-onmonth basis as businesses expanded operations for year-end demand, while service and trade sectors gradually recovered from disruptions caused by recent natural ca-

lamities. “This level remains within the 4.8 to 5.1 percent target for 2025 under the Philippine Development Plan 2023-2028,” Laguesma said in a statement on Wednesday evening, hours after the Philippine Statistics Agency (PSA) reported that manufacturing posted one of the steepest year-on-year job losses in November 2025, shedding 150,000 positions and underscoring continued weakness in the sector. See related story in A14, “Weak competitiveness in manufacturing hurts jobs.” The labor chief also pointed to signs of better job quality, with See “DOLE,” A2

PESO EXCHANGE RATES n US 59.1520 n JAPAN 0.3777 n UK 79.8670 n HK 7.5952 n CHINA 8.4709 n SINGAPORE 46.2053 n AUSTRALIA 39.8448 n EU 69.1487 n KOREA 0.0409 n SAUDI ARABIA 15.7751 Source: BSP (January 7, 2026)

News

BusinessMirror

A2 Thursday, January 8, 2026

DOLE…

Continued from A1

employment growth seen mainly in skilled and semi-skilled occupations, alongside easing underemployment, which he attributed to ongoing programs on skills upgrading, youth employment, and enterprise support. He said the department would continue to enhance job-matching services and closely track labor market trends in partnership with the public and private sectors to support sustained growth and quality employment. “The DOLE, together with partners in the public and private sectors, remains focused in fostering economic growth and creating quality jobs for the benefit of all Filipinos,” he assured.

Peso hits new low of… Continued from A1

it is “unthinkable” to hike the policy rate at this point. The BSP said the Monetary Board views the monetary policy easing cycle as nearing its end, with any further easing likely to be limited and guided by incoming data. The central bank has cut rates eight times since August 2024, totaling 200 basis points, reducing the policy rate from 6.50 percent to 4.5 percent. Reine Juvierre S. Alberto

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PHL tops WeChat views in China tourism marketing

By Ma. Stella F. Arnaldo Special to the BusinessMirror

HE Philippines’s Department of Tourism (DOT) topped the list of WeChat articles with the most views in China in 2025. Dragon Trail International’s Top 10 WeChat Posts by Tourism Destinations in 2025, which tracked posts up to November 2025, showed that DOT’s post on the DRT Diving Show in Beijing held from August 8-10, racked up close to 99,000 views. The agency promoted the Philippines’s participation at the dive expo on the social media platform last June. WeChat is a popular social media and instant messaging app in mainland China, and integrates a networking system for friends and an online market for the purchase or sale of consumer goods and services. It has over 1.4 billion monthly active users worldwide, and is used by 90 percent of Chinese nationals, which underscores its importance as a platform for tourism marketing and promotions. Dragon Trail noted that the DOT

exhibited at the dive show with 16 government and private sector partners, including regional tourism boards, resorts, diving centers, and destination management companies.

‘No change in visa policy for China’

THIS developed as the Department of Foreign Affairs (DFA) on Tuesday reiterated that the visa policy toward China remains the same, as a purported DFA memo signed by Foreign Affairs Secretary Ma. Theresa P. Lazaro claimed that Chinese tourists could now visit the Philippines visa-free for 14 days. DFA spokesperson Angelica Escalona was reported saying, “As of today, the visa policy for entry of Chinese nationals to the Philippines remains the same.” She added that, “Visa applications continue to be processed by

our Foreign Service Posts in accordance with existing visa regulations for Chinese nationals.” As per the DFA website, Chinese nationals who may visit the Philippines visa-free can only do so for seven days, and must possess “valid and current” visas from the the United States, Japan, Australia, Canada, and Schengen countries. The agency has also resumed an electronic visa system in China. Local tourism stakeholders groups had shared the fake “DFA memo 2026-001” on their social media pages. Prior to the pandemic, China was the second top source of foreign tourists for the Philippines with arrivals reaching 1.45 million, or 17.5 percent of the total 8.3 million inbound tourists in 2019.

But lags in other platforms

IN the 11 months to November 2025, the Philippines received 248,339 tourists from China, placing the latter fifth among top source markets that period. However, these were 16.6 percent less than the same period in 2024, as per latest DOT data. Meanwhile, per Dragon Trail’s research, the DOT clearly needs to strengthen its marketing in China through social media as its promotions on the Philippines failed to register on Weibo, a popular microblogging site similar to X (formerly Twitter), and on Xiaohongshu (now RedNote). The latter combines the features of Instagram, Pinterest, and TikTok, with strong emphasis on lifestyle

Jobs…

Continued from A14

Still, Canlas noted that the broader slowdown in economic growth has weighed on manufacturing output, particularly in food processing and motor vehicle production. Government data also showed that the economy grew by an average of 5 percent in the first three quarters of 2025, yet below the government’s 5.5- to 6.5-percent full-year target, For his part, Ateneo de Manila University economist Leonardo Lanzona said manufacturing job losses also reflect the sector’s difficulty in competing with regional peers. “Because of this, we rely on imports for our domestic and export manufacturing goods,” he told this newspaper. “As the currency depreciates, the costs of these imports become higher, further weakening the sector, as seen in the number of jobs being lost.” The peso closed at P59.13 per dollar, its weakest level in three weeks, data from the Bankers Association of the Philippines showed. For this trend to change, Lanzona said that “we need to develop our own capacity to produce these goods.” De La Salle University economist Ella Oplas pointed to structural issues, including a mismatch between labor supply and manufacturing demand, as well as higher labor costs relative to neighboring countries. “Labor in the Philippines is still more expensive compared to our neighbor; we are not talking only about the minimum wage rate, but all other benefits and requirements by our government,” Oplas told the BusinessMirror. “It’s costing manufacturing a lot that they would rather go to the nearest cheaper neighbor.” She added that governance con-

and travel content. Data from Dragon Trail showed that 76 percent of Chinese outbound travelers using RedNote/ Xiaohongshu were between the ages of 18 and 24, 71 percent were aged 25 to 34, 61 percent were between 35 and 44 years, and lastly, those between 45 and 65 years accounted for 46 percent of the platform’s users. (See, “Independent Chinese travelers, seniors open new horizons for PHL,” in the BusinessMirror, Dec. 19, 2025.) Dragon Trail International is a company that specializes in connecting global destinations to the mainland Chinese market through digital marketing techniques.

Arrivals from Korea fall 21%

DOT data showed, of the total 5.24 million inbound tourists from January to November last year, foreign nationals accounted for 4.77 million, 3-percent less than in 2024. Overseas Filipinos increased by 7.66 percent to 465,584, year on year. South Korea remained the top source market for tourists with arrivals hitting 1.13 million, although this was 21 percent less than the same period in 2024. The United States followed at 894,835 (+6.6 percent); Japan 406,794 (+15.4 percent); Australia 268,892 (+16.2 percent); China; Canada 230,509 (+16.8 percent); Taiwan 182,664 (-6.82 percent); the United Kingdom 152,344 (+7.31 percent); Singapore 141,091 (-1.44 percent); and Malaysia 87,142 (-2.08 percent).

cerns also weigh on investor confidence. “Why would an investor stay in a very chaotic, poorly governed country waiting to explode anytime soon? Investors want return of investments, predictability and stability. I don’t think we have that now,” she added.

Weather disruptions, slower growth

NOVEMBER employment figures were also affected by severe weather, National Statistician Claire Dennis Mapa noted. Two major typhoons disrupted economic activity during the month, particularly in tourism-related industries. “This led to a slowdown in economic activities related to tourism,” Mapa said during the Wednesday briefing. Total employment in November stood at 49.26 million, down from 49.54 million a year earlier—a net decline of about 277,000 jobs. According to Ateneo economist Luis Dumlao, the manufacturing job losses are consistent with the sector’s slowing output growth, which eased from 4.3 percent in the first quarter of 2025 to 2.5 percent in the second quarter and 1.2 percent in the third. “Manufacturing can either gain or lose jobs, but the changes tend to be small relative to its more than 3.5 million workers,” Dumlao told the BusinessMirror. As a solution to such challenges, Depdev mentioned that the recently enacted 2026 General Appropriations Act will support efforts on higher spending on education, upskilling, and reskilling. “The 2026 National Budget serves as a strategic roadmap for safeguarding economic recovery and sustaining progress toward our long-term development goals,” Balisacan said. “It prioritizes investments in education, health, agriculture, social protection, and job creation— sectors fundamental to building a more inclusive and resilient economy,” he added.

End-Nov N.G. debt hits ₧17.647-T record high Continued from A1

from P12.045 trillion, driven by the P71.85 billion in net issuance of government securities. “Borrowing predominantly from domestic creditors and in local currency has been one of the main strategies pursued by the government to keep its debt sustainable,” the Treasury said. “This is because peso obligations do not fluctuate with foreign exchange rates and the payment of interest redounds to the benefit of Filipino investors, further boosting domestic income.” Since the start of the year, domestic debt jumped by 10.86 percent, as the government raised funds to fulfill its financing requirements. Domestic debt also increased by 10.95 percent year-on-year from P10.921 trillion. External debt, meanwhile, went up by 0.26 percent to P5.530 trillion as of end-November from the previous month’s P5.516 trillion. This is due to the P22.84 billion in net loan availments for the month, which was offset by the P8.73 billion in downward valuation adjustments caused by foreign exchange movements, according to the Treasury. Peso appreciation against the US dollar trimmed foreign currency debt valuation by P3.94 billion, while third-currency movements added another P4.79 billion to the valuation cut, it added. “The national government’s external financing operations remained prudent, measured, and anchored on long-term debt sustainability considerations,” the Treasury said, noting that external borrowings continue to be largely concessional and program-based, offering very long maturity terms and relatively lower interest costs. From the end of 2024, external debt climbed by 8.01 percent from P5.120 trillion, due to new loans and bonds, as well as net adjustments to valuation, following the peso weakening against foreign currencies in the first eleven months of 2025. External debt also posted a 7.81-percent increase year-on-year from P5.130 trillion. With the peso depreciating to new lows in December, foreign currency debt valuations will likely increase, John Paolo R. Rivera, senior research fellow at the staterun think tank Philippine Institute for Development Studies, told the BusinessMirror. “What matters more is the debt trajectory relative to growth and revenues,” Rivera said. “If growth firms up and fiscal consolidation improves this 2026, valuation-driven increases should be manageable; if not, peso weakness and sustained issuance could keep debt at or near record levels for a while,” Rivera added. Rizal Commercial Banking Corporation chief economist Michael L. Ricafort shared this view, saying that the outstanding debt could reach new record highs in the coming months. “[There is] also the need to hedge both local and foreign borrowings of the national government in view of the Trump factor that caused volatility in the global financial markets,” Ricafort said. “The intensified tax collections from existing tax laws may not be enough and would inevitably require new tax/fiscal reform measures in able to curb additional borrowings/ debt by the government, especially for the administration,” Ricafort added. The country’s outstanding debt relative to its gross domestic product (GDP) stood at 63.1 percent in the third quarter of 2025—above the internationally accepted threshold of 60 percent. The government is targeting to reduce its debt-to-GDP ratio to 60.4 percent by the end of 2025.

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Higher number of devotees expected for Traslacion 2026 By Justine Xyrah Garcia

RGANIZERS of the annual feast of the Jesus Nazareno expect more devotees to join the Traslacion later this week. Nazareno 2026 spokesperson Fr. Robert Arellano said on Wednesday that while they could not provide an estimate of the number of participants, they expect turnout to remain high. Related story on page 5. This is despite the feast of the Jesus Nazareno being declared a liturgical feast in all dioceses nationwide since September 2024. “We really don’t have an estimate because, based on experience, the number of devotees keeps increasing. From what we’ve seen over the years, the crowd continues to grow,” Arellano told reporters in a chance interview. In 2025, the Nazareno Operation Center recorded around 8.1 million devotees who took part in the annual feast. Of these, 1.29 million gathered at the Quirino Grandstand, while 387,010 people attended the procession proper. An additional 6.4 million devotees attended the hourly masses at Quiapo Church. Last year’s figures were among the highest attendance recorded in recent years, surpassing the 6.5 million devotees during the 2024 celebration. Arellano said feast organizers are prepared should the number of devotees increase further, noting that policemen will be deployed to help ensure peace and order. “We are ready to accommodate a large number of devotees because the police are there to assist us. They have significantly increased the number of uniformed personnel to support the event,” he said. However, Arellano reminded the public that devotion is not measured solely by physically joining the feast. Arellano said praying sincerely—even from home—is still encouraged. “The effectiveness of prayer is not based on going to Quiapo or the Quirino Grandstand. Even if you’re just at home, our social media platforms are open...The Lord knows what is in our hearts. That’s why we say that someone cannot truly be called a devotee if they are present but do not respect the Church’s guidelines,” he added.

Security measures

IN anticipation of the large crowd, feast organizers announced several innovations to ensure a smoother procession. Quiapo Church Technical Director Alex Irasga said the andas or the carriage carrying the image of Nazareno will now have four wheels and a steering mechanism to allow faster movement. The andas will also be equipped with brakes and an underchassis, though it will remain non-motorized. In terms of design, the glass enclosure of the andas will have perforated metal plates to regulate temperature and prevent moisture buildup. The cross carried by the Nazareno has also been shortened to prevent devotees from climbing onto the image—an act that has often caused delays and accidents in previous years. This time around, the feast organizers will also deploy police officers who are members of the Hijos del Nazareno to man the top of the andas and prevent devotees from climbing onto the carriage. Additionally, two sets of spare ropes, each measuring 30 meters, will be prepared to replace the original ropes in case they snap during the procession. Irasga also announced that security personnel will strengthen human barricades along roads near Ayala and Palanca bridges to prevent devotees from entering the area while the Nazareno image is passing through. In earlier Traslacions, it often took several hours for the image to cross these two bridges owing to the dense crowd. Irasga clarified that devotees are not being barred from joining the procession, but organizers want the image to pass through first. “Let our beloved Señor go ahead first. Please move to the side, and once He has crossed, you may already follow the procession. We respectfully ask all devotees to wait along the sides of the procession routes,” he said, adding that devotees may follow behind the andas as long as they do not go against the flow of the procession. Irasga added that devotees may also express their faith in other ways, such as pulling the ropes, performing the salya, or waving towels.

Discouraged from joining

WITH the cooler weather and the continued spread of flu, Health Assistant Secretary Gloria Balboa advised those with flu-like symptoms, compromised immune systems, and chronic illnesses to refrain from attending the Traslacion. She said the public is encouraged to instead watch the procession via livestream to help prevent the spread of illness. “We hope that those who are sick will choose not to attend because we need to consider the welfare of others. With such a large crowd, the spread of infection can happen very quickly,” Balboa said. However, for those who still choose to attend, she advised wearing face masks to avoid transmitting illness. Balboa also reminded devotees with chronic conditions such as hypertension or diabetes to bring their maintenance medications. Ahead of the Traslacion, the pahalik has already began on Wednesday evening, allowing devotees to kiss the image of the Nazareno or wipe handkerchiefs on it at the Quirino Grandstand. The 33 fiesta masses in Quiapo Church, meanwhile, will start on Thursday at 3:00 p.m. The much-awaited Misa Mayor, which marks the start of the main celebration, will be held at midnight on January 9. The Traslacion will then begin before sunrise.

Thursday, January 8, 2026

Group questions presence of dredgers at Manila Bay By Jonathan L. Mayuga

‘W

@jonlmayuga

HY are there still dredging vessels operating in Manila Bay despite the supposed suspension of reclamation projects?” The national fishermen’s federation Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) asked the question in response to President Marcos’ order to the Coast Guard (PCG) to board and inspect dredging vessels operating at Manila Bay reclamation areas. “It only means that some reclamation [activities] continue in Manila Bay despite the study that proves its adverse effect [to the environment and livelihood of fishermen],” Fernando Hicap, Pamalakaya chairman, said in a statement. Hicap said the continuing reclamation activities in Manila Bay rendered the cumulative impact assessment (CIA) commissioned by the Department of Environment and Nat ura l Resources (DENR) useless. Despite the supposed suspension

order by Marcos in 2023, several reclamation projects across Manila Bay continue to move forward, Hicap lamented. These include the 650-hectare reclamation in Navotas City, the 265-hectare Pasay Harbor Reclamation, and the 2,500-hectare airport project in Bulacan. “The call of fishermen and environmentalists is to stop dredging and reclamation activities because of their adverse impact to the environment and the livelihood of coastal communities,” Hicap said. He said land reclamation has caused long-term and irreversible damage to Manila Bay. Aside from stopping all land reclamation activities, including dredging and seabed quarrying, Hicap said the proponents of these projects, as well as officials who allowed this what he called “plun-

der” of natural resources, should be held accountable. Unfortunately, Hicap said the Marcos administration is not determined to stop the destructive activities in Manila Bay. The fishers’ group said that several reclamation projects in Manila Bay have been obtaining their sands in different coastal areas including in Zambales and Ilocos Sur.

Order to PCG

MARCOS earlier ordered the PCG to “board and inspect” all dredgers operating in Manila Bay reclamation projects amid renewed concerns over vessel identity, ownership and compliance with Philippine laws. “The President orders the PCG to board all the dredgers operating in Manila Bay as part of the reclamation project and inspect their vessel registration and AIS [automatic identification system] AIS transmission,” Palace Press Officer Claire Castro said on Tuesday. The directive comes days after a maritime security analyst flagged a Chinese-origin dredger allegedly broadcasting multiple identities while operating in Philippine waters. In an article published on Monday, Ray Powell, director

of maritime intelligence group S e a L i g ht , re por te d t h at t he dredger Kang Ling 539 has transmitted at least 30 different vessel identities while shuttling between Manila Bay and a dredging site in Zambales for more than two years. According to the report, the dredger has operated under at least six different flag states, including the Philippines, Sierra Leone, China, São Tomé and Príncipe and Panama, raising red flags over possible violations of maritime and domestic regulations. Under Philippine law, dredgers transporting sand between Philippine points must be at least 60 percent Filipino-owned, Philippine-flagged and registered, and crewed by Filipino nationals. Foreig n-ow ned or foreig nflagged vessels are prohibited from undertaking dredging operations unless they are ref lagged and placed under qualified domestic ownership. The President’s latest directive follows his earlier order in May 2025 for a nationwide probe into dredging and reclamation activities, issued amid mounting environmental concerns and reports that sand sourced from Philippine waters may have been diverted to Chinese land reclamation projects. With PNA

DSWD springs into action as Mayon remains restive By Jonathan L. Mayuga & Jovee Marie N. dela Cruz @joveemarie

AYON Volcano remains restive and continues to t hreaten communities around, compelling immediate action from concerned government agencies. The Philippine Institute of Volcanology and Seismology (Phivolcs) reported that it has recorded 131 Rockfall events plus five Pyroclastic Density Currents over the last 24 hours. Its crater has a faint glow and can still be viewed using a telescope, according to Phivolcs’ Volcano Bulletin dated January 7. The volcano continues to emit plumes at 702 tons per day since January 5. According to Phivolcs, the volcano edifice remains inf lated, indicating mag matic activ it y underneath. On Tuesday, Phivolcs raised to Alert Level 3 the alert status for Mayon owing to increased volcanic activity. Phivolcs has declared the sixk ilometer Per manent Danger Zone “off limits” to human activi-

ties, due to threats of rockfalls or landslides or avalanches; ballistic fragments, lava flows and lava fountaining, Pyroclastic density currents, and Moderate-sized explosions. It has also alarmed concerned local governments (LGUs) of the possibility of lahars during heavy and prolonged rainfall events.

Food packs

SOCIAL Welfare Secretary Rex Gatchalian has ordered the release of an additional 100,000 family food packs (FFPs) to the Bicol Region for Albay residents affected by Mayon Volcano’s unrest. Gatchalian also directed DSWD 5 (Bicol) Director Norman Laurio to distribute ready-to-eat food (Rtef) boxes to the affected families. “Nagbigay po ng kautusan si Secretary Rex Gatchalian na dagdagan natin ang ating mga prepositioned goods. Around 100,000 [food packs] ang ipapadala pa natin [Secretary Gatchalian has ordered to augment the prepositioned goods. We will send about 100,000 additional food packs] to augment these goods that are already prepositioned,” Assistant

Secretary Irene Dumlao of the Disaster Response Management Group said in a radio interview on Wednesday. Dumlao said the department is on full alert, with food and nonfood items already prepositioned in various warehouses in Bicol. As of Wednesday, DSWD-5 has more than 111,000 FFPs, about 16,500 Rtef boxes, and more than 15,000 non-food items in warehouses across the region. Dumlao said after the Philippine Institute of Volcanology and Seismology raised the status of Mayon volcano to Alert Level 3 on Tuesday, Laurio led the distribution of 163 Rtef boxes to evacuees currently staying at the Tagaytay Elementary School and Bariw Elementary School in Camalig, Albay. The DSWD-5 also set up 25 modular tents at the Buang Evacuation Center and Buang Covered Court in Tabaco City, Albay for evacuees living within the six-km. radius permanent danger zone. “The Bicol field office also continues to closely coordinate with the Provincial Disaster Risk Reduction and Management and local chief executives to determine other forms

of assistance needed by their constituents,” Dumlao said.

Full alert

THE DSWD has placed its Field Office V (Bicol Region) on full alert, assuring Bicolanos of its readiness to respond to their needs following the raising of Mayon Volcano’s alert status to Alert Level 3. DSWD assured that it has sufficient relief stockpiles and standby funds amounting to P132.59 million to sustain relief operations for families affected by the volcano’s heightened unrest. Dumlao of the Disaster Response and Management Group (DRMG) said the agency’s Bicol regional office has been closely monitoring the situation and continuously coordinating with LGUs in Albay, particularly those within the permanent danger zone. “As per data from our Field Office in Bicol, 122 families, or 601 individuals, from Guinobatan, Camalig, and other barangays in Albay have been affected by Mayon Volcano. The evacuation of residents living within the sixkilometer danger zone is also ongoing,” she said. With PNA

Navy ready for more Chinese incursions at WPS By Rex Anthony Naval

HE Navy (PN) is ready for the possible increase in the incursions of Chinese maritime forces in the country’s waters, especially the West Philippine Sea (WPS), this year. Rear Adm. Roy Vincent Trinidad, the Navy’s spokesman for the West Philippine Sea said the Navy, along with the rest of the Armed Forces (AFP), is prepared to carry out “comprehensive archipelagic defense operations.” “Ang direksyon naman ng ating [the direction of the] Armed Forces is very clear. We are here to implement comprehensive archipelagic

defense operations. This would mean that we should be able to secure and to protect all the way up to our EEZ [exclusive economic zone] and beyond the EEZ,” he added. Trinidad issued this comment when asked what the PN intends to do should Chinese maritime incursions continue this year. Comprehensive archipelagic defense operations stemmed from the Comprehensive Archipelagic Defense Concept, which is a strategic shift that calls for the AFP to defend all Philippine territories, including the country’s 200-nautical-mile EEZ. “As such, the PN, the Air Force [PAF], the Army [PA] Joint Headquarters, we are doing everything

to be able to project and sustain our forces. That would include our capital ships, that would include coordination with other agencies of government like the Coast Guard [PCG] and Bfar [Bureau of Fisheries and Aquatic Resources],” he said. He declined to comment on whether they would increase deployment and operations related to this matter. “We do not divulge details of our forthcoming operations. Rest assured that the different operational plans are with the appropriate unified commanders, for this case Western Command and Northern Luzon Command, for

them to execute,” he added.

Trusted allies

AT the same time, Trinidad said the Stratbase-commissioned Pulse Asia survey that had Filipinos overwhelmingly trust the country’s allies in the ongoing WPS row with China indicates that the public now understands the issues surrounding the vital waterway. “Ito ay nakakatuwa, ito ay nakakalakas ng loob namin sapagkat nakikita natin na ang ating mga kababayan ay naintindihan ang issue sa WPS [we are overjoyed, this development further boosted our See “WPS,” A4

Thursday, January 8, 2026

www.businessmirror.com.ph

2 lawmakers set to ask SC to declare UAs in 2026 budget unconstitutional By Jovee Marie N. dela Cruz

@joveemarie

WO lawmakers are set to file a petition before the Supreme Court on Thursday, seeking to declare the unprogrammed appropriations (UA) included in the 2026 General Appropriations Act (GAA) unconstitutional. Caloocan Rep. Edgar Erice and Party-list Rep. Leila M. de Lima of Mamamayang Liberal argued that the inclusion of billions in UA “violates constitutional principles governing public finance, budget accountability, and Congress’ power of the purse.” They said that the provisions undermine transparency, fiscal discipline, and safeguards against discretionary spending without clearly identified revenue sources. The petition filing is scheduled at 10:30 a.m. at the Supreme Court

grounds on Padre Faura Street in Manila. President Marcos on Monday announced his decision to veto several items under UAs totaling nearly P92.5 billion in the 2026 national budget approved by Congress. With the veto, the 2026 GAA reduced the allocation for UAs to P150.9 billion. Marcos emphasized the UAs must be used only under clearly defined conditions, with safeguards in place to prevent misuse. A c k no w l e d g i n g C o n g re s s ’ support in limiting the UA to

Govt starts identifying key climate change indicators for policymaking By Bless Aubrey Ogerio

HE government has begun identifying key climate change indicators to guide policy and planning, officials said during a national dialogue. The event, organized by the Philippine Statistics Authority (PSA) in partnership with the United Nations Economic and Social Commission for Asia and the Pacific (Unescap), marks the start of a three-year project to develop comprehensive, multidimensional statistics on climate change. The initiative aims to support government agencies in monitoring and evaluating climate-related policies. During the three-day dialogue, participants discussed priority climate strategies, including measures outlined in the Nationally Determined Contribution and the National Adaptation Plan. Panelists highlighted challenges to effective climate action, such as gaps in financing, fragmented data systems, balancing food security with mitigation

efforts, promoting economywide sustainable approaches and improving interagency coordination. Unescap representatives emphasized the importance of producing disaggregated and user-focused climate statistics, noting that quality data is essential for informed decision-making. By the conclusion of the dialogue, the group identified 50 priority indicators from a pool of 158 proposed by the Global Set of Climate Change Statistics and Indicators (GSCCSI). The PSA and Unescap will next work on refining these indicators, ensuring methodological soundness, data availability, and feasibility in collaboration with relevant agencies. In December, the International Monetary Fund cautioned that without stronger adaptation measures, climate change could reduce the Philippines’ annual GDP by as much as 2 percent over the long term. (See: https:// businessmirror.com. ph/2025/12/29/climatechange-could-slash-2-offgdp/)

essential needs, Marcos said he further reduced this to the bare minimum, which shall be at a level that is the lowest since 2019.

Congressional oversight

T HE Ma k abaya n bloc in t he House, meanwhile, questioned the effectiveness of the proposed joint congressiona l oversight committee on public expenditures, cautioning that lawmakers cannot objectively scrutinize allocations that benefit their own districts. “We should not put much credence on this supposed ‘oversight committee’ because how will Congress exercise oversight over the system of ‘allocables’ or congressional allocations for infrastructure that benefit its members? Will the lawmaker proponents investigate themselves? ” the bloc said, “It is the people who will watch over and fight against the abuse of public funds.” The bloc includes Party-list Reps. Antonio Tinio of ACT Teachers, Renee Louise Co of Kabataan and Sarah Jane Elago of Gabriela. Party-list Rep. Terry Ridon of Bicol Saro acknowledged the

concerns but said oversight is possible if the committee’s composition is carefully designed. He said that lawmakers who do not represent a specific district, such as party-list representatives and senators, are eligible to be part of the panel. The Senate Committee on Finance chairman, Sen. Sherwin Gatchalian, confirmed that, for the first time, the Senate and the House of Representatives will form a joint congressional oversight committee on public expenditures, marking a significant step toward greater accountability in government spending. Meanwhile, de Lima expressed full support for the creation of a joint congressional oversight committee to monitor public e x pend it u res, st ressi ng t h at Congress’s responsibility does not end with the passage of the national budget. De Lima said it is in Congress’ best interest to ensure that the GAA—one of the country’s most important laws—is implemented properly and judiciously. “We cannot assume that this budget is already free from corruption,

especially since unprogrammed appropriations, or ‘shadow pork,’ still exist, and ‘soft pork’ allocations—which are prone to patronage politics—have also grown. The major culprits behind the massive plunder of public funds, along with their accomplices, have yet to be held accountable. This is why we must remain vigilant and continue to investigate,” she said. De Lima also emphasized the need to institutionalize transparency through the Citizen Access and Disclosure of Expenditures for National Accountability (Cadena) Act. The measure has already been approved by the Senate, and a House counterpart has been filed to implement genuine budget reform. “Through this measure, a digital budget portal will be created to make government spending accessible, searchable, and traceable throughout the entire budget cycle. Under the Cadena Law, the public will be able to review and question any suspicious allocations and transactions, from budget preparation to implementation, she added.

Bill seeks 50% reduction of OFW remittance fees By Butch Fernandez @butchfBM

EN. Jing goy Ejercito Estrada has filed a measure seeking to slash the remittance fees for overseas Filipino workers (OFWs) by 50 percent, a landmark proposal aimed at protecting the workers’ hard-earned money—the lifeblood of millions of Filipino families—from excessive charges, unfair practices, and financial exploitation. Under the bill, banks and nonbank financial intermediaries that will grant the mandatory 50 percent discount on remittance fees may claim the amount as a tax deduction on their operational costs, creating what Estrada described as a “winwin solution” for both OFWs and service providers. “This is a win-win situation for our OFWs and their families, as well as for banks and remittance centers,” Estrada said. “Kapalit ng bawat oras na nawawalay ang ating mga OFWs sa kanilang pamilya ay panahong hindi na maibabalik at mga sakripisyong hindi matutumbasan ng anumang dolyar. Kaya nararapat lamang na masiguro ng ating batas na napoprotektahan at napapakinabangan ang kanilang kita—kita na

WPS. . . Continued from A3

confidence now that we saw our countrymen understanding the WPS issue],” Trinidad said. This is a good development, Trinidad said, as Filipinos no longer believe the false narratives and malign influence being churned out by the Chinese Communist Party regarding the matter. He said this shows that Filipinos trust the country’s allies by a very significant margin compared to China when it comes to the WPS issue. “It is a very strong morale booster to the AFP. It only shows that our stand of supporting the rulesbased order in the WPS now has a

bumubuhay din sa ating ekonomiya.” “The least we can do is make sure that every peso sent home reaches their loved ones with its full value intact, and not eaten up by excessive or unfair charges,” Estrada said, referring to his Senate Bill 1074, or the proposed “Overseas Filipino Workers [OFWs] Remittance Protection Act.” In filing the bill, Estrada cited data showing that OFW remittances reached a record-breaking US$38.34 billion in 2024, a 3 percent increase from 2023, accounting for 8.3 percent of the country’s GDP and 7.4 percent of gross national income—underscoring the vital role that OFWs play in sustaining the Philippine economy. The proposed measure also mandates full transparency from banks and financial intermediaries by requiring the clear posting of peso-equivalent exchange rates in remittance centers to prevent hidden charges. It strictly prohibits the misappropriation of funds, unauthorized deductions, excessive fees, and any increase in remittance charges without prior consultation with concerned government agencies. Violators may face penalties of up to six years of imprisonment, fines

ranging from P50,000 to P750,000, and additional sanctions under existing banking laws. Institutions that deny receipt of remittances may likewise be penalized. Beyond fee regulation, the bill also pushes for stronger financial empowerment of OFWs and their families by directing the Department of Migrant Workers (DMW), in coordination with the Overseas Workers Welfare Administration (OWWA), Bangko Sentral (BSP), Department of Finance (DOF), and other agencies, to provide free and mandatory financial literacy programs. These programs will cover budgeting, savings, investments, loans, consumer protection, and safeguards against scams and online fraud. Financial education will be integrated into the Pre-Departure Orientation Seminars (PDOS), PostArrival Training Seminars (PATS), and online platforms accessible to OFW families nationwide.Estrada stressed that the measure goes beyond economics and is ultimately about dignity and fairness. “OFWs are not just remitters— they are breadwinners, parents, and pillars of our economy,” he said. “Protecting their money is protecting their families’ future.”

trickle down effect on the Filipinos. This will further encourage us to keep performing our mandate, keep doing our patrols over land, sea and air,” Trinidad said. A Pulse Asia survey commissioned by Stratbase had Filipinos overwhelmingly trusting likeminded international partners, such as the United States, Japan, Canada, and Australia, to help protect the country’s national interests amid ongoing tensions in the WPS with China. The survey, conducted last December 12 to 15, and involving 1,200 respondents nationwide with a +/- 2.8 percent margin of error, shows that Filipinos are clear about which countries they want the Philippines to work with amid

continuing tensions in the WPS. Respondents were allowed to select up to five countries or organizations they trust and believe the Marcos administration should work with in asserting Philippine rights and protecting national interests. The survey shows that the United States (82 percent), Japan (64 percent), Canada (58 percent), and Australia (51 percent) as the top countries Filipinos trust. Stratbase said these results reflect strong public confidence in partners that respect international law, follow a rules-based order, and support Philippine sovereignty. In the same survey, only one out of 10 Filipinos said they trust China, for a rating of 11 percent. With PNA

HOAs in focus as DHSUD updates policies By Bless Aubrey Ogerio

HE Department of Human Settlements and Urban Development (DHSUD) will revisit policies and guidelines governing homeowners’ associations (HOA) to strengthen their role in local communities, Secretary Jose Ramon Aliling said. Aliling emphasized the need for proactive engagement, saying the department will work closely with HOAs as partners in improving neighborhoods. “Through proper information and education, we can encourage HOAs to take an active role to improve their community,” he said. The housing agency currently records more than 26,000 registered HOAs and neighborhood associations nationwide. Common concerns raised by these groups include the election and terms of officers, as well as the collection of association fees. DHSUD stressed that well-informed HOAs are better positioned to maximize their potential as government partners. “It is important for HOAs and their members to understand DHSUD policies and guidelines so regulations are clear, problems are minimized, and organizations can function productively,” Aliling said in Filipino. Further, the department plans to increase grassroots engagement, provide regular updates on regulations and expand information campaigns to ensure HOAs are informed and able to contribute to policy development.

Legislator lauds increase in education budget

HE chairman of the House Committee on Higher and Technical Education said the approval of the highest-ever education allocation under the 2026 national government budget sends a “strong and decisive message” that education remains at the core of the country’s development agenda. Party-list Rep. Jude Acidre of Tingog, the panel chairman, welcomed the allocation of more than P1 trillion for the education sector, calling it a clear signal that the government views investments in learning not as mere expenditures but as the foundation of long-term national progress. “With more than P1 trillion allocated to the education sector, the Philippines sends a strong and decisive message: that the future of our people is built in classrooms, training centers, laboratories, and learning communities across the country,” he said. Acidre said the record budget creates a critical opportunity to deepen reforms in higher education and technical-vocational education and training (TVET). He said the allocation would help expand access to education, enhance quality, modernize institutions, support faculty development, and ensure that graduates acquire skills aligned with the demands of a fastchanging economy. Acidre added that the budget gives momentum to ongoing initiatives to expand scholarship programs, strengthen state universities and colleges, and improve TVET pathways, while better aligning education outcomes with national and regional development goals. See “Education,” A10

Thursday, January 8, 2026

Marcos tasks newly promoted AFP officers to protect both borders and public resources By Samuel P. Medenilla

@sam_medenilla

RESIDENT Ferdinand Marcos has called on newly promoted officials of the Armed Forces of the Philippines (AFP) to safeguard not only the country’s borders, but also public resources.

who guard public resources,” he said in Filipino during the oathtaking ceremony of the newly promoted generals and flag officers of AFP in Malacañang last Wednesday. “Be among those who ensure that every peso translates into capability, preparedness, and integrity,” he added. A total of 37 newly promoted generals and flag officers of the AFP and the lone commissioned graduate of Foreign Pre-Commissioned Training Institutions (FPCTI) participated in the ceremony. During the event, Marcos urged AFP officials to continue securing the country as it faces “complex threats, rising geopolitical tensions, and heightened security concerns.” “On the local front, you have remained a dependable shield of

our communities by protecting our seas, providing assistance during calamities, and sustaining peacebuilding efforts,” Marcos said. “Internationally, you represented your country with utmost professionalism through joint exercises and interoperability initiatives,” he added. The President also reiterated his assurance that he will continue to provide AFP with the necessary support for its modernization efforts, which he said is reflected in the 2026 National Budget. Under the 2026 General Appropriations Act, the government has allocated P310 billion for defense spending. “ This includes the updated base pay schedule, increased subsistence allowance of our military and uniformed personnel,” Marcos said.

The Chief Executive issued the statement as the government continues to assure the public that reforms are already in place to address the exposed rampant anomalies in government flood control projects.

The government crackdown against public works irregularities has resulted to widespread anti-corruption protests. “More than your role as the protectors of our nation, you must also be among the faithful stewards

BARMM deflation eases to –1.3% as rice prices stabilize

DPWH records significant gain in public trust despite ghost project allegations

AVAO CIT Y—Inf lation across the Bangsamoro re g ion b e g a n t o e a s e between October and November last year as the price of rice started to stabilize, the Philippine Statistics Authority (PSABARMM) has reported. Inf lation rate actually rose slightly to –1.3 percent in October 2025 from –1.5 percent in September, which placed the Bangsamoro region in a state of deflation, with prices still lower than a year ago, but the pace of decline has eased. While this was supposed to be good news for residents, economists have warned that prolonged deflation may have a negative impact to the longevity and sustainability of business, employment and income. PSA-BAR MM Officer-inCharge Akan Tula said rice was the single biggest contributor to BARMM’s inflation in October, posting –17.9 percent, which was slightly higher than the –18.3 percent registered in September. The October inflation pulled down the overall rate by –2.61 percentage points. See “Barmm,” A10

DOH: ‘Super flu’ spreading in US, UK not a cause for concern in PHL

ESPITE the multiple cases of super flu or subclade K detected in the country last year, the Department of Health (DOH) said the disease, which is now spreading in countries like the United Kingdom and United States, is not a cause for concern. In a press briefing in Malacañang last Wednesday, Department of Health (DOH) Secretary Teodoro J. Herbosa said they were able to detect 17 cases of the new variant of influenza A (H3N2) from July to August last year. This was on top of the 41 other super flu case, which was reported by DOH from August to October last year. See “Super Flu,” A10

By Claudeth Mocon-Ciriaco @claudethmc3

MID the flood control mess, the Department of Public Works and Highways (DPWH) registered a significant recovery in both approval and trust this quarter while several critical institutions continue to suffer significant drops, according to the Pahayag 2025 Endof-the-Year (PEOY-2025) Survey. Despite the agency’s involvement in flood control controversy, involving the alleged ghost projects, kickbacks, and substandard materials, the survey covering Cabinet performance, agency approval, and public trust showed that DPWH is the only agency to register a significant recovery in both approval and trust this quarter, making it the sole gainer among government agencies as public approval rose from 12 percent to 16 percent. DPWH’s trust ratings also improved from 8 percent to 10 percent, reflecting growing confidence in the department’s ongoing infrastructure and flood-control programs under Secretary Vince Dizon.

Critical institutions continue to suffer a considerable decrease

THE survey, conducted from December 7 to 10, 2025, comprising 1,500 respondents who are registered Filipino voters, stated that while the majority of government agencies, 20 out of 33, remain stable in public approval,

several critical institutions continue to suffer a significant decrease. Findings show that agencies involved in flood control, rising prices, transport issues, corruption, and economic management registered notable declines this quarter— including the Senate (28 percent to 24 percent), House of Representatives (21 percent to 20 percent), Department of Health or DOH (49 percent to 44 percent), Department of Trade and Industry or DTI (42 percent to 34 percent), Department of Transportation or DOTr (42 percent to 37 percent), Department of Agrarian Reform or DAR (38 percent to 35 percent), Department of Finance (30 percent to 26 percent), and Department of Economic, Planning and Development or DEPDev (formerly NEDA) (35 percent to 31 percent). Meanwhile, the Commission on Audit offers a rare glimmer of positive public sentiment in an otherwise challenging quarter for many institutions, as it enjoyed 31 percent to 35 percent public approval, credited for its active role in auditing government officials and agencies.

Declining trust

DESPITE the DPWH recovery, Filipinos remain skeptical of the Senate and House of Representatives, based on the said survey. Trust in the Senate fell to 31 percent, with 57 percent expressing low or no trust. The House of Representatives mirrored this pattern, with low/no trust at 38 percent

and moderate trust at 34 percent, reflecting public concern over legislative responsiveness and governance. A broad list of agencies experienced declining trust (no figures provided), including the Armed Forces of the Philippines, Philippine National Police, Supreme Court, Department of Foreign Affairs, DOH, DTI, DOTr, DAR, Commission on Elections, DOF, DEPDev, Department of Budget and Management, Department of Human Settlements and Urban Development, and Civil Service Commission. The trend, the survey said, may reflect general public wariness of government performance amid persistent social and economic challenges. “While most agencies maintain stable approval, public perception highlights gaps in performance, particularly among agencies directly linked to governance, economic management, and legislative functions. The DPWH’s recovery stands out as a model of how leadership and visible results can translate into public confidence,” stated the PEOY2025 , an independent, non-commissioned nationwide purposive sampling survey randomly selected from the market research panel of PureSpectrum, a US-based panel marketplace with global operations and a regional office in Singapore. Pahayag is a CSR of PUBLiCUS Asia Inc., which has tracked key metrics since 2017, while Vox Opinion Research is its commissioned research arm since 2007.

Strong earthquake hits coastal town in Davao Oriental

6.4 magnitude earthquake struck the coastal town of Manay, Davao Oriental Wednesday morning, the Philippine Institute of Volcanology and Seismology (Phivolcs) reported. In its Earthquake Information No. 2, Phivolcs said the earthquake struck at exactly 11:02 a.m. The epicenter was traced off the coast of Manay, Davao Oriental. Phivolcs said it is expecting damage and aftershocks, but it has not issued a tsunami alert warning.

There was no immediate report of damage although volcanologists warned they expected damage from the quake that occurred of 16 kilometers at its epicenter traced at 58 kilometers southeast of the same of town. It was also in this town that a magnitude 7.4 earthquake hit the town on October 10 last year at 9:43 am from its epicenter 48 kilometers northeast. The earthquake generated Intensity V that was strongly felt in Manay, and the

nearby town of Hinatuan, Surgao del Sur and Talacogon in Agusan del Sur. It also generated Intensity IV in Bislig City and Cagwait, Surigao del Sur, Tarragona, and Cateel in Davao Oriental, while intensity III was felt in Tandag City, Surigao del Sur; Boston and Banganga, Davao Oriental. Davao City, General Santos City, Butuan City, Babay City, and Palo, Leyte; Hindayan recorded Intensity II level earthquake. Jonathan L. Mayuga and Manuel T. Cayon

BCDA inks agreement with City Government of Taguig to develop new school facilities By Andrea San Juan @andreasanjuan

TATE-run firm Bases Conversion and Development Authority (BCDA) has partnered with the City Government of Taguig and Department of EducationTaguig and Pateros to develop new school and community facilities in Pamayanang Diego Silang. On December 18, 2025, BCDA and the Taguig City government signed a memorandum of agreement (MOA) granting

usufruct over a 1,110-square-meter parcel of land for the development, construction, and operation of facilities that will support public education and community use. The site, currently under the supervision of the Senator Renato “Compañero” Cayetano Memorial Science and Technology High School, was originally earmarked for a sports complex. Under the new agreement, BCDA said the land will be “repurposed” to house school and community facilities that will directly benefit students and nearby residents.

BCDA President and CEO Joshua M. Bingcang said the partnership reflects BCDA’s “broader role” in supporting human capital alongside infrastructure development. “BCDA has consistently suppor ted quality education, including initiatives like the National Academy of Sports in New Clark City. This partnership allows us to extend that commitment to Taguig by helping create accessible and inclusive learning spaces for the community,” Bingcang said.

PRC Chairman Richard Dick Gordon and Dr. Gwen Pang announces the Philippine Red Cross hospitals, ambulance, medical stations that will augment local government and other national agencies during the 2026 Traslacion during press conference at their HQ in EDSA. He also ask the public to avail of the PRC Safety Card that will avail a member of free ambulance service to nearest hospital and a bag of blood in case of emergency. BERNARD TESTA

DOH, Red Cross mobilize 1,200 personnel, 20 medical stations for Black Nazarene feast

HE Department of Health (DOH) said it will deploy 20 Health Emergency Response Team (HERT) stations for the annual Feast of the Black Nazarene on January 9, while the Philippine Red Cross (PRC) will position over 1,200 personnel to ensure the safety and wellbeing of millions of devotees expected to join one of the country’s largest religious gatherings. Health Secretary Teodoro Herbosa said that HERT will ensure prompt and efficient emergency medical assistance to the thousands of devotees who will participate in the Traslacion. HERT will be strategically deployed along the Traslacion route to provide advanced emergency medical services: Quirino Grandstand Rizal Park, Roxas Boulevard National Museum (Exit Point) Cebuana Lhuillier (Near SM Manila) Sun Trust (Near Ayala Bridge) Stretch of P. Casal Quinta Market Parking Villarica Pawnshop, Quezon Boulevard Texhnological Institute Philippines corner Lingkod Bayan (Arlequi corner P. Casal) n San Sebastian Church Ground n MLQU Ground n One Quiapo Hotel, Quezon Boulevard n In front of BDO (C. Palanca corner P. Gomez) n MCGI Quaipo, Quezon Boulevard n In front of 7-11 and Chowking n In front of PhilTrust Bank n n n n n n n n n

On Wednesday, Herbosa met with Manila Mayor Francisco “Isko” Moreno Domagoso and representatives of the volunteers of the Minor Basilica of the Black Nazarene to discuss the preparation on January 9 to ensure the an orderly, safe, and peaceful celebration. Earlier, the DOH said that all hospitals in the National Capital Region (NCR) are under Code White Alert. The Code White Alert is declared during national events, holidays, or celebrations that can potentially cause mass casualty incidents or emergencies. During Code White Alert, identified medical personnel and staff are placed on standby for the immediate acceptance and treatment of incoming patients at the hospitals. Meanwhile, the PRC will deploy a total of 1,261 PRC staff and trained volunteers will along the procession route and will be supported by Red Cross 143 volunteers on alert in key areas. To provide immediate medical response, PRC will position 19 ambulances from NCR chapters, reinforced by 20 additional ambulances from Southern and Central Luzon chapters. Roving medical teams and foot patrol units will navigate dense crowds with scooters, while rescue boats will be prepositioned along the Pasig River for water-related emergencies.

Modular Emergency Medical Unit

PRC will also set up a Modular Emergency Medical Unit with a 10bed emergency room and a 50-bed ward for minor injuries, allowing patients to receive care on-site from PRC’s medical corps and easing the burden on nearby hospitals. PRC Welfare Services will provide psychological first aid, family tracing, hydration support, and assistance from social workers assigned to nearby hospitals. Seventeen First Aid Stations and Welfare Desks will be established along the route, including Quirino Grandstand, Quiapo Church, and major thoroughfares such as Roxas Boulevard, Ayala Bridge, and Quezon Boulevard. A central command post at Kartilya ng Katipunan will ensure realtime communication and coordination among all deployed teams. Clear protocols will be in place for crowd-related incidents, medical emergencies, and patient transport to hospitals. See “Red Cross,” A10

See “BCDA,” A10

Thursday, January 8, 2026

TheWorld

Editor: Angel R. Calso

Trump says US to get 30 million to 50 million barrels of oil from Venezuela at market price By Regina Garcia Cano, Aamer Madhani & Megan Janetsky The Associated Press

ARACAS, Venezuela—President Donald Trump said Tuesday that Venezuela would be providing 30 million to 50 million barrels of oil to the US, and he pledged to use proceeds from the sale of this oil “to benefit the people” of both countries. The White House is organizing a meeting Friday with US oil company executives to discuss Venezuela, which the Trump administration has been pressuring to open its vastbut-struggling oil industr y more widely to American investment and know-how. Representatives of Exxon, Chevron and ConocoPhillips are expected to attend the White House meeting, according to a person familiar with the matter who requested

anonymity to discuss the plans. Earlier Tuesday, officials in Caracas announced that at least 24 Venezuelan security officers were killed in the dead-of-night US military operation to capture Nicolás Maduro and spirit him to the United States to face drug charges. And the country’s acting president, Delcy Rodriguez, pushed back on Trump, who earlier this week warned she’d face an outcome worse than Maduro’s if she does not “do what’s right” and overhaul Venezuela into a country that aligns with US interests, including by granting access to American energy companies. Rod r ig uez, del iver i ng a n address Tuesday before government agricultural and industrial sector officials, said, “Personally, to those who threaten me: My destiny is not determined by them, but by God.” Venezuela’s Attor ney Genera l Tarek William Saab said overall “dozens” of officers and civilians were

killed in the weekend strike in Caracas and said prosecutors would investigate the deaths in what he described as a “war crime.” He didn’t specify if the estimate was specifically referring to Venezuelans. In addition to the Venezuelan security officials, Cuba’s government had previously confirmed that 32 Cuban military and police officers working in Venezuela were killed in the raid. The Cuban government says the personnel killed belonged to the Revolutionary Armed Forces and the Ministry of the Interior, the country’s two main security agencies. Seven US service members were also injured in the raid, according to the Pentagon. Five have already returned to duty, while two are still recovering from their injuries. The injuries included gunshot wounds and shrapnel injuries, according to a US official who was not authorized to comment on the matter publicly and

spoke on the condition of anonymity. A video tribute to the slain Venezuelan security officials posted to the military’s Instagram account features faces of the fallen over blackand-white videos of soldiers, American aircraft f lying over Caracas and armored vehicles destroyed by the blasts. Meanwhile, the streets of Caracas, deserted for days following Maduro’s capture, briefly filled with masses of people waving Venezuelan flags and bouncing to patriotic music at a state-organized display of support for the government. “Their spilled blood does not cry out for vengeance, but for justice and strength,” the military wrote in an Instagram post. “It reaffirms our unwavering oath not to rest until we rescue our legitimate President, completely dismantle the terrorist groups operating from abroad, and ensure that events such as these never again sully our sovereign soil.”

Questions about the future of Venezuelan oil

WITH oil trading at roughly $56 a barrel, the transaction Trump announced late Tuesday could be worth as much as $2.8 billion. The US goes through an average of roughly 20 million barrels a day of oil and related products, so Venezuela’s transfer would be the equivalent of as much as two and a half days of supply, according to the US Energy Information Administration. Despite Venezuela having the world’s largest proven crude oil reserves, it only produces on average about one million barrels day, significantly below the US average daily production of 13.9 million barrels a day during October. The press office for Venezuela’s government did not immediately respond to a request for comment on Trump’s announcement. ExxonMobil is developing a mammoth offshore oil deposit in the waters

off Guyana, Venezuela’s neighbor to the east. The company’s major oil discovery in 2015 prompted Venezuela to revive a century-old territorial dispute with Guyana and take steps to annex the remote region known as Essequibo, which comprises about two-thirds of Guyana’s land mass. The development has also led to wide-ranging accusations from Venezuela’s government, including Rodríguez, against Guyana’s leaders and ExxonMobil. Two years ago, Venezuelan lawmakers even considered banning any future operation in Venezuela of oil companies working in Guyana. Earlier Tuesday, Trump pushed back against Democratic criticism of this weekend’s military operation, noting that his Democratic predecessor Joe Biden had also called for the arrest of the Venezuelan leader on drug trafficking charges. See “Venezuela,” A7

TheWorld

www.businessmirror.com.ph

Wall Street reaches more records on Big Tech gains By Damian J. Troise AP Business Writer

EW YORK—Broad gains led by technology stocks pushed Wall Street to more records on Tuesday. The gains mirror much of the action from the previous year, when big technology stocks often drove the market to a series of records. Technology stocks led the gains, but several other sectors assisted in the broader market’s advance. Health care companies, retailers and industrial firms broadly gained ground. Roughly three out of every four stocks in the benchmark S&P 500 index rose. The S&P 500 rose 42.77 points, or 0.6%, to 6,944.82, setting a record on just the third trading day of the year. The Dow Jones Industrial Average rose 484.90 points, or 1%, to 49,462.08, hitting a record for a second-straight day. The Nasdaq composite rose 151.35 points, or 0.6%, to 23,547.17. Small company stocks outpaced their larger counterparts. The Russell 2000 jumped 1.4% and is now just below its record set in December. The most notable action remained in the tech sector. Amazon, which has reach into both retail and technology, surged 3.4%. It is one of the most valuable companies in the world and its outsized stock valuation helped counter losses elsewhere in the market, including a 1.8% loss from Apple. Micron Technology surged 10%, also helping to lift the market. Microsoft rose 1.2% Nv idia, which is often the biggest force behind the market’s direction, wavered throughout the day and finished 0.5% lower. Sandisk surged 27.6% for the market’s biggest gain. The stock’s value has jumped more than 800% since spinning off from Western Digital last February. The gains have been driven by artificial intelligence and the resulting demand for data-storage hardware. Western Digital rose 16.8%. Technology companies, especially

Venezuela. . . Continued from A6

Trump in remarks before a House Republican retreat in Washington grumbled that Democrats were not giving him credit for a successful military operation, even though there was bipartisan agreement that Maduro was not the rightful president of Venezuela. In 2020, Maduro was indicted in the United States, accused in a decades-long narcoterrorism and international cocaine trafficking conspiracy. White House officials have noted that Biden’s administration in his final days in office last year raised the award for information leading to Maduro’s arrest after he assumed a third term in office despite evidence suggesting that he lost Venezuela’s most recent election. The Trump administration doubled the award to $50 million in August. “You know, at some point, they should say, ‘You know, you did a great job. Thank you. Congratulations.’ Wouldn’t it be good?” Trump said. “I would say that if they did a good job, their philosophies are so different. But if they did a good job, I’d be happy for the country. They’ve been after this guy for years and years and years.”

What US opinion polls show

AMERICANS are split about the capture of Maduro—with many still forming opinions— according to a poll conducted by The Washington Post and SSRS using text messages over the weekend. About 4 in 10 approved of the US military being sent to capture Maduro, while roughly the same share were opposed. About 2 in 10 were unsure. Nearly half of Americans, 45%, were opposed to the US taking control of Venezuela and choosing a new government for the country. About 9 in 10 Americans said the Venezuelan people should be the ones to decide the future leadership of their country. Maduro pleaded not guilty to federal drug trafficking charges in a US courtroom on Monday. US forces captured Maduro and his wife early Saturday in a raid on a compound where they were

those focused on artificial intelligence, are being closely watched this week during the industry’s annual CES trade show in Las Vegas. AI advances helped propel the broader market to a series of records in 2025. Investors will be watching companies for any updates that could shed more light on the big corporate investments in AI technology. The price of benchmark US crude oil fell 2% to $57.13 per barrel, pulling back from sharp gains a day prior when the market reacted to US forces capturing Venezuelan President Nicolás Maduro in a weekend raid. The price of Brent crude, the international standard, fell 1.7% to $60.70 per barrel. Treasury yields rose in the bond market. The yield on the 10-year Treasury climbed to 4.16% from 4.15% late Monday. The yield on the two-year Treasury, which moves more closely with expectations for what the Federal Reserve will do, rose to 3.46% from 3.45% late Monday. Gold prices rose 1% and silver prices rose 5.7%. Such assets are often considered safe havens in times of geopolitical turmoil. The metals have notched record prices over the last year amid lingering economic concerns brought on by conflicts and trade wars. Markets in Europe gained ground. Outside of company announcements, Wall Street is preparing for several updates on the US labor market this week, along with reports on the services sector and consumer sentiment. They will help paint a clearer picture of how vital parts of the economy closed out 2025 and the direction they could take in 2026. On Wednesday, the US government will release its report on job openings for November. The October report showed that US job openings had barely budged. Weekly unemployment data will be released on Thursday and the broader monthly employment report, for December, will be released on Friday. See “Wall Street,” A8

surrounded by Cuban guards. In the days since Maduro’s ouster, Trump and top administration officials have raised anxiety around the globe that the operation could mark the beginning of a more expansionist US foreign policy in the Western Hemisphere. The president in recent days has renewed his calls for an American takeover of the Danish territory of Greenland for the sake of US security interests and threatened military action on Colombia for facilitating the global sale of cocaine, while his top diplomat declared the communist government in Cuba is “in a lot of trouble.”

Colombia responds to Trump

COLOMBIA’S Foreign Affairs Minister Rosa Villavicencio said Tuesday she’ll meet with the US Embassy’s charge d’affaires in Bogota to present him with a formal complaint over the recent threats issued by the United States. On Sunday, Trump said he wasn’t ruling out an attack on Colombia and described its president, who’s been an outspoken critic of the US pressure campaign on Venezuela, as a “sick man who likes making cocaine and selling it to the United States.” Villavicencio said she’s hoping to strengthen relations with the United States and improve cooperation in the fight against drug trafficking. “It is necessary for the Trump administration to know in more detail about all that we are doing in the fight against drug trafficking,” she said. Meanwhile, the leaders of France, Germany, Italy, Poland, Spain and the United Kingdom on Tuesday joined Danish Prime Minister Mette Frederiksen in defending Greenland’s sovereignty. The island is a self-governing territory of the kingdom of Denmark and thus part of the NATO military alliance. “Greenland belongs to its people,” the statement said. “It is for Denmark and Greenland, and them only, to decide on matters concerning Denmark and Greenland.” Madhani reported from Washington and Janetsky from Mexico City. AP writers Josh Boak, Konstantin Toropin, Sagar Meghani, Isabel DeBre, Linley Sanders and Manuel Rueda contributed reporting.

Thursday, January 8, 2026

China’s feud with Japan worsens as Tokyo slams export controls

By Alastair Gale, Yoshiaki Nohara & Josh Xiao

OKYO officials rebuked Beijing over trading curbs that threaten to impact more than 40% of Chinese exports to Japan, escalating a dispute between Asia’s largest economies. Japan’s Foreign Ministry issued a formal protest to Chinese Deputy Chief of Mission Shi Yong after Beijing announced export controls on Tuesday affecting items destined for Japan that could have military uses. Broad estimates show that dual-use items Japan imports from China total ¥10.7 trillion ($68.4 billion), roughly 42% of Japan’s total goods imports from China in 2024, according to Takahide Kiuchi, executive economist at the Nomura Research Institute. “The measures target only our country and deviate significantly from international practice,” Japan’s Chief Cabinet Secretary Minoru Kihara told reporters, adding that the steps were unacceptable. “We intend to carefully examine and analyze the details and consider necessary responses,” he said. Beijing’s move marks the latest escalation in a dispute over remarks on Taiwan by Japanese Prime Minister Sanae Takaichi that has been dragging on since early November. The row has echoes of a conf lict more than a decade ago that saw rare earths shipments from China falter. Concerns over potential impacts to Japan’s key industries have brought down automaker shares while boosting rare-earth related stocks, though how China will actually implement its

controls remains unclear. On Tuesday, China’s Ministr y of Commerce said that all dual-use items with military as well as commercial uses were banned from being exported to Japan if it could enhance Japan’s military capabilities, effective immediately. Details remain vague but the action could be significant for Japan’s imports from China — its largest trading partner. Asked whether the measures will impact Japan’s rare earth commerce with China, Kihara said the government is still assessing details. State-run China Daily reported that Beijing is considering tighter export license reviews for certain medium and heavy rare earth–related items. In addition to being an important raw material for batteries and commercial electronics, rare earth elements are widely utilized in military equipment, including in high-strength magnets used in missile guidance systems and fighter jet motors. Restricting rare earths supplies has long been raised as one potential avenue for Beijing to pile pressure on Tokyo, especially after China used its dominance of the industry last year to stare down US tariffs. Supply chain disruptions like this, as seen in the US-China tensions of

2021-22, remind manufacturers of the need to diversify away from China, said Kohei Onishi, senior investment strategist at Mitsubishi UFJ Morgan Stanley. Rare-earth-related company Toyo Engineering Corp. rose as much as 20% Tuesday, while Toyota Motor Corp. fell as much as 3%, the most since early November. Japan relied on China for around 70% of its rare earth imports as of 2024, according to the Japan Organization for Metals and Energy Security. That was more than a decade after China had wielded the materials as a weapon against Tokyo during a 2010 territorial dispute. At that time, the Chinese move wreaked havoc across Japan’s manufacturing industry. Nomura’s Kiuchi wrote that if the new controls were to apply to rare earths, Japan would take a significant hit. If rare-earth export restrictions were to last three months, the resulting economic loss would amount to about ¥660 billion, cutting Japan’s economic output by 0.11%, he estimated. The latest move may extend well beyond rare earth supplies. China’s dual-use export control list features more than 800 items, ranging from chemicals, electronics and sensors to equipment and technologies used in shipping and aerospace. The trade action comes amid a diplomatic standoff following remarks made by Japanese Prime Minister Sanae Takaichi in early November that suggested Tokyo could deploy its military if China uses force to try and seize Taiwan. Beijing responded angrily and demanded Takaichi withdraw her remarks. She has refused, saying Japan’s position over Taiwan remains unchanged. The ambiguity of China’s action may be intentional. “By triggering concern in Japan about the ongoing

availability of critical Chinese industrial inputs, the announcement puts immediate pressure on Takaichi to offer concessions,” Teneo analysts James Brady and Gabriel Wildau wrote in a research note. Since the dispute began, China has restricted tourism to Japan, made protests at the United Nations and stepped up military maneuvers, among other measures. In announcing the export controls, a Chinese Ministry of Commerce spokesman explicitly linked them to the dispute over Takaichi’s comments. “Japan’s leader recently made erroneous remarks on Taiwan, hinting at the possibility of military intervention in the Taiwan Strait,” the ministry spokesperson said in a statement on Tuesday. Those comments were of “malicious nature with profoundly detrimental consequences,” according to the spokesperson. China’s military newspaper reiterated that the move demonstrates China’s commitment to regional security. “This move not only safeguards national security and interests but also helps curb the trend of military buildup in the Asia-Pacific region, injecting certainty into the promotion of regional peace and stability,” the People’s Liberation Army Daily wrote in a commentary Tuesday. So far, the US has given limited public support to its ally over the standoff with China. In a call on Wednesday, Kanai spoke with Assistant Secretary of State for East Asian and Pacific Affairs Michael DeSombre, according to Japan’s Foreign Ministry. The two officials “exchanged views on the current regional situation and reconfirmed close coordination between Japan and the US,” according to the statement. With assistance from Colum Mur-

phy, Alice French and Brett Miller/Bloomberg

TheWorld

Thursday, January 8, 2026

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Ukraine’s allies praise progress on defense guarantees if peace deal struck with Russia By Sylvie Corbet & John Leicester

The Associated Press

ARIS—Ukraine’s allies said they made major progress Tuesday toward agreeing on how to defend the country if a peace deal is struck with Russia, saying they were ready to provide international guarantees to deter Moscow from attacking its neighbor again.

Plans discussed at a key meeting in Paris included having the US lead an effort to monitor any ceasefire—which could give Washington a direct role in keeping any peace with Russia. Leaders from 27 European countries and Canada, as well as US representatives and top officials from the European Union and NATO, said they would provide Kyiv’s front-line forces with equipment and training and back them up with air, land and sea support to deter any future Russian attack. This was the 15th and largest meeting of the so-called “coalition of the willing”—involving more heads of state and governments than ever and US envoys in person for the first time. The post-ceasefire architecture would also include beefing up Ukraine’s war-battered army, including by replenishing its weapons stocks, so it could act as the country’s front-line deterrence against a resumption of fighting.

There was no immediate comment from officials in Russia on Tuesday, which was the eve of Orthodox Christmas.

Details of the plan were not disclosed

THE size of the supporting forces was not made public, and many of the details of the plan—which would only apply if a ceasefire enters into force—remain unclear. U.K . P r i me Mi n i ster K ei r Starmer said the meeting made “excellent progress” but cautioned that “the hardest yards are still ahead,” noting that Russian attacks on Ukraine continue. Moscow has revealed few details of its stance in the US-led peace negotiations. Officials have reaffirmed Russia’s demands and have insisted there can be no ceasefire until a comprehensive settlement is agreed. Russian President Vladimir Putin has ruled out any deployment of troops from NATO countries on Ukrainian soil.

Tension rises over Greenland comments

Starmer added that there can only be peace if Russia compromises, and added: “Putin is not showing that he is ready for peace.”

Zelenskyy agreed progress was made

IN the event of a ceasefire, Starmer said the U.K. and France “will establish military hubs across Ukraine and build protected facilities for weapons and military equipment to support Ukraine’s defensive needs.” Ukrainian President Volodymyr Zelensky y agreed progress was made in the talks, although commitments need to be ratified by each countr y so that they can be put in place after any settlement. “We determined what countries are ready to take leadership in the elements of security guarantees on the ground, in the air, and at sea, and in restoration,” Zelenskyy told a news conference in Paris. “We determined what forces are needed. We determined, how these forces will be operated and at what levels of command.” US envoy Steve Witkoff said the US “strongly stands behind” security guarantees. Trump’s sonin-law Jared Kushner, who also participated in the meeting, called the Paris meeting “a very, very, big milestone.” “ This does not mean we will make peace, but peace would not be possible without the progress that we have made today,” Kushner said. French President Emmanuel Macron said the security statement endorsed by U k ra i ne’s a l l ies is a “sig n if ic a nt step”

FROM the left, German Chancellor Friedrich Merz, Ukraine’s President Volodymyr Zelenskyy, French President Emmanuel Macron, Britain’s Prime Minister Keir Starmer, US Special Envoy Steve Witkoff and US businessman Jared Kushner attend a joint press conference after the signing of the declaration on deploying post-ceasefire force in Ukraine during the ‘Coalition of the Willing’ summit on security guarantees for Ukraine, at the Elysee Palace in Paris Tuesday, Jan 6, 2026. LUDOVIC MARIN, POOL PHOTO VIA AP

toward ending Russia’s invasion. The coalition plans also envisage a Ukrainian army with 800,000 troops, he said.

Commitments still need to be finalized

A JOINT statement issued following the meeting said the allies also agreed to continue long-term military assistance and armament to Ukraine’s armed forces, which “will remain the first line of defense and deterrence” after any peace deal is signed. The allies still must finalize “binding commitments” setting out what they will do to support Ukraine, the statement said. The outcome of the meeting had been uncertain as the Trump administration’s focus is shifting to Venezuela, while US suggestions

of a Greenland takeover caused tension with Europe, and Moscow shows no signs of compromise. A series of meetings on the summit’s sidelines illustrated the intensity of the diplomatic effort and the complexity of its moving parts. Zelenskyy met with Macron ahead of the summit. French, British and Ukrainian military chiefs also met, with NATO’s top commander, US Gen. Alexus G. Grynkewich, participating in talks that France’s army chief said focused on implementing security guarantees. Army chiefs from other coalition nations joined by video. Macron’s office said the US delegation was initially set to be led by Secretary of State Marco Rubio, but he changed his plans after the US military intervention in Venezuela.

TRUMP on Sunday renewed his call for the US to take control of Greenland, a strategic, mineralrich Arctic island. The leaders of France, Germany, Italy, Poland, Spain and the U.K. on Tuesday joined Danish Prime Minister Mette Frederiksen in defending Greenland’s sovereignty in the wake of Trump’s comments about the self-governing territory of the kingdom of Denmark. Macron on Tuesday declined answering a question on Greenland as he was speaking about Ukraine alongside US envoys Kushner and Witkoff. In fighting Tuesday, Ukraine’s Security Service carried out drone strikes on a military arsenal and an oil depot deep inside Russia, according to a security official who was not authorized to comment publicly and thus spoke on condition of anonymity. The long-range drones hit the arsenal in Russia’s Kostroma region, triggering explosions that lasted for hours and forced the evacuation of nearby settlements, the official said. The site was described as a key logistics hub supplying ammunition in western and central Russia. In a separate strike, Ukraine Security Service drones hit an oil depot in Russia’s Lipetsk region, causing a huge fire, the official said. John Leicester in Paris; Volodymyr Yurchuk in Kyiv, Ukraine; Will Weissert in Washington; Jill Lawless in London and Barry Hatton in Lisbon, Portugal, contributed.

West Bank facing division as Israel clears last hurdle for settlement construction By Julia Frankel & Abby Sewell The Associated Press

ERUSALEM—Israel has cleared the final hurdle before starting construction on a contentious settlement projec t near Jerusalem that would effectively cut the West Bank in two, according to a government tender. The tender, which seeks bids from developers, would clear the way to begin construction of the E1 project. The anti-settlement monitoring group

Peace Now first reported the tender. Yoni Mizrahi, who runs the group’s settlement watch division, said initial work could begin within the month. Settlement development in E1, an open tract of land east of Jerusalem, has been under consideration for more than two decades, but was frozen due to US pressure during previous administrations. The international community over whelmingly considers Israeli settlement construction in the West Bank to be illegal and an obstacle to peace.

A controversial project

THE E1 project is especially contentious because it runs from the outskirts of Jerusalem deep into the occupied West Bank. Critics say it would prevent the establishment of a contiguous Palestinian state in the territory. Israeli Finance Minister Bezalel Smotrich, a far-right politician who oversees settlement policy, has long pushed for the plan to become a reality. “The Palestinian state is being erased from the table not with slogans but with actions,” he said in August, when Israel gave final approval to the plan. “Every

settlement, every neighborhood, every housing unit is another nail in the coffin of this dangerous idea.” The tender, publicly accessible on the website for Israel’s Land Authority, calls for proposals to develop 3,401 housing units. Peace Now says the publication of the tender “reflects an accelerated effort to advance construction in E1.

Israel and Syria resume USbrokered talks in Paris

SYRIAN and Israeli officials met Tuesday in Paris for US-mediated talks intended to broker a security agreement to defuse

tensions between the two countries. A joint statement issued after the meeting said it “centered on respect for Syria’s sovereignty and stability, Israel’s security, and prosperity for both countries.” It said the two sides have agreed to establish a joint communication cell “to facilitate immediate and ongoing coordination on their intelligence sharing, m i l i t a r y d e - e s c a l at i o n , d i p l o m at i c engagement, and commercial opportunities under the supervision of the United States.” The cell would serve as a platform to address disputes and “prevent misunderstandings,” it said. In December 2024, insurgents led by Syria’s now interim President Ahmad al-Sharaa ousted the country’s longtime autocratic leader, Bashar Assad, in a lightning offensive. Al-Sharaa said that he has no desire for a conflict with Israel. But Israel was suspicious of the new Islamist-led leadership and quickly moved to seize control of a formerly U.N.-patrolled buffer zone in southern Syria set up under a 1974 disengagement agreement. Israel has also launched hundreds of airstrikes on Syrian

Wall Street. . . Continued from A7

The Institute for Supply Management will also release its latest services sector update on Wednesday, while the University of Michigan will release its latest consumer sentiment survey Friday. They are both widely monitored because the services sector makes up the bulk of the US economy, and consumer sentiment has been shaky under the weight of higher prices and economic uncertainty. The Fed will be analyzing all of that data and more ahead of its next meeting in late

military facilities and periodic incursions into villages outside the buffer zone, which have sometimes led to violent confrontations with residents. Sy r i a n o f f i c i a l s h ave s a i d t h e i r priority in the talks is the withdrawal of Israeli forces and a return to the 1974 agreement. Israeli Prime Minister Benjamin Netanyahu’s office said in a statement Tuesday that Israel “stressed the importance of ensuring security for its citizens and preventing threats on its border” and of protecting the Druze minority in Syria, which also comprises a substantial minority in Israel.

U.N. says aid groups have enough food for Gazans for the first time in two years

THE United Nations said that aid groups have enough food on hand to sustain people in Gaza for the first time since the war began more than two years ago. “The January round is the first since October 2023 in which partners had sufficient stock to meet 100% of the minimum caloric See “West Bank,” A9

January. The central bank cut its benchmark interest rate three times late in 2025 to try and counter the economic impact of a softer jobs market. Lower interest rates on loans can help bolster economic activity. Cutting rates also risks fueling inflation at a time when it remains stubbornly above the Fed’s 2% target and could potentially reheat. Rising inflation could counter any benefit from lower interest rates and weigh more heavily on the economy. Wall Street expects the Fed to hold interest rates steady at its January meeting. AP business writers Elaine Kurtenbach and Matt Ott contributed to this report.

TheWorld

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West Bank. . . Continued from A8

standard,” U.N. spokesperson Stéphane Dujarric said Monday. More aid has been reaching Gaza since the ceasefire between Israel and Hamas took effect on Oct. 10. However, the flow of humanitarian aid remains challenging amid Israel’s recent decision to revoke the licenses of more than three dozen organizations, including such prominent groups as Doctors Without Borders, the Norwegian Refugee Council and Oxfam. The European Union’s foreign policy chief on Tuesday called on Israel to lift the restrictions to avert deaths from exposure, hunger and a lack of medicines, as thousands of displaced Palestinians return to what is left of their homes. “To deliver aid rapidly, safely and at the scale required, international NGOs must be able to operate in a sustained and predictable way,” Kaja Kallas, the EU’s top diplomat, said in a statement from the 27-nation bloc, referring to non-governmental organizations.

Israeli troops fire at university protesters in West Bank

THE Palestinian Red Crescent said Tuesday that 11 people were injured during an Israeli raid at a university in the West Bank. The president of Birzeit University, speaking at a press conference, said a group of about 20 Israeli military vehicles had stormed the gate and entered the campus. Video obtained by The Associated Press confirmed their presence on campus. “Unfortunately, targeting the university is a recurring event,” said Talal Shahwan, the school’s president, who said the forces displayed “clear brutality.” Israeli officials said military and border troops were sent to break up an anticipated gathering and soon found themselves facing a crowd of hundreds of people, some allegedly throwing rocks at them from rooftops. They said they used targeted fire toward the “main violent individuals.”

Foreign journalists press Israel for entry into Gaza

A GROUP representing major international media organizations on Tuesday criticized the Israeli government’s latest refusal to allow foreign journalists into Gaza, despite a three-month ceasefire. Israel has barred the foreign media from entering Gaza since the war erupted on Oct. 7, 2023. The Foreign Press Association has asked Israel’s Supreme Court to end the ban. After months of delays, the Israeli government this week told the court that it remains opposed to allowing international journalists into Gaza, citing security reasons. The FPA, which represents dozens of major media organizations, including The Associated Press, expressed “its profound disappointment” with the government’s position and said it hoped judges would soon end the ban. Sewell reported from Beirut. Associated Press journalists Josef Federman in Jerusalem, Koral Saeed in Herzliya, Israel, Toqa Ezzidin in Cairo and Maryclaire Dale in Philadelphia contributed to this report.

Thursday, January 8, 2026

New clashes between Syrian forces and Kurdish fighters erupt in Aleppo By Omar Albam

The Associated Press

LEPPO, Syria—The deadliest clashes so far broke out Tuesday between Syrian government forces and Kurdish fighters in a contested area of the northern city of Aleppo, as efforts to merge the USbacked Syrian Democratic Forces with the national army have shown little progress.

Syria ‘s state-run SANA news agency said a soldier was killed and three others were wounded in an attack by the SDF. State TV later reported that three civilians, including two women, were killed and others were wounded, including two children, in shelling of a residential area that it blamed on the SDF. SANA also said nine Aleppo Directorate of Agriculture employees were wounded by SDF shelling that hit its office. The SDF in a statement denied

being behind the shelling that killed the civilians and said a shell launched by “factions affiliated with the Damascus government” landed in the al-Midan neighborhood. The SDF claimed the target was the adjacent Kurdish Sheikh Maqsoud neighborhood. “ This indiscriminate shelling constitutes a direct attack on residential areas and exposes the lives of civilians to grave danger,” it said.

Civilians caught in intense fighting

THE SDF also said a drone strike launched by government forces killed one resident of Sheikh Maqsoud and wounded two children, and that shelling in the nearby Bani Zaid neighborhood killed a woman and wounded dozens. There was no mention of those incidents in state media. At Aleppo’s Al-Razi Hospital, which received some of the wounded, Ahmad Abu Sheikh was waiting to see his 4-year-old daughter, Fatima, who was on the operating table for hours after being hit by shrapnel from a shell. He said she lost her eye. “I just want to know what can I tell my daughter when I see her? Where did her eye go?” he said. Afrin Jawan, a civil society activist in Sheikh Maqsoud, said in a message that thousands of civilians were besieged in Kurdish neighborhoods “and subjected to indiscriminate shelling with all types of heavy and medium weapons ... by factions affiliated with the Ministry of Defense in Damascus.” The predominantly Kurdish neighborhoods of Sheikh Maqsoud and

Achrafieh in Aleppo have seen intermittent clashes in recent months. Previous rounds of fighting ended with truce agreements. By Tuesday evening, a tense calm had returned, but clashes flared up again within hours.

Difficulty in absorbing Kurdish forces

THE SDF has tens of thousands of fighters and is the main force to be absorbed into Syria’s military. The leadership in Damascus under interim President Ahmad al-Sharaa signed a deal in March with the SDF, which controls much of the northeast, for it to merge with the Syrian army by the end of 2025. There have been disagreements on how it would happen. In April, scores of SDF fighters left Sheikh Maqsoud and Achrafieh as part of the deal. Officials from the central government and SDF met again Sunday in Damascus, but government officials said no tangible progress had been made. Some of the factions that make up the new Syrian army, formed after the fall of former President Bashar Assad in a rebel offensive in December 2024, were previously

Turkish-backed insurgent groups that have a long history of clashing with Kurdish forces. The SDF for years has been the main US partner in Syria in fighting against the Islamic State group, but Turkey considers the SDF a terrorist organization because of its association with the Kurdistan Workers’ Party, or PKK, which has waged a long-running insurgency in Turkey. A peace process is now underway. The SDF and Syria’s government have accused each other of seeking to derail the March agreement. “The SDF organization once again proves that it does not recognize the March 10 Agreement and is trying to derail it and drag the army into an open battle of its choosing,” Syria’s Defense Ministry said in a statement Tuesday. T he SDF sa id gover nment forces had committed a “ blatant violation of international humanitarian law” by targeting residential neighborhoods. It called the attacks “planned and deliberate, systematically targeting infrastructure and essential ser vices, including water and electricity.”

Gen Z revolters angry at government they installed after Nepal’s protests By Binaj Gurubacharya The Associated Press

ATHMANDU, Nepal—Mukesh Awasti was all set leave for Australia to pursue a degree in civil engineering on a sunny day in September, but instead he joined a youth revolt against corruption in Nepal and lost his leg after being shot by security forces. Lying on a hospital bed at the National Trauma Center in the capital Kathmandu where his leg was amputated, 22-year-old Awasti said he regrets giving up so much for the little that has been achieved after the sacrifices of so many people. Violent protests in Kathmandu that began Sept. 8 left 76 people dead and more than 2,300 injured before the demonstrations fueled by “Gen Z” activists forced the appointment on Sept. 12 of Nepal’s first female prime minister, Sushila Karki, a retired Supreme Court judge who has promised fresh elections in March. Since then, the interim government and its leader have come under criticism from many of the people who took part in the protests and expected major changes in the Himalayan nation. “I am regretting my decision to take part in the protest because they have been zero achievement from the new government we brought which has failed us,” Awasti said. “There should be end to corruption which has not happened and the people who

opened fire on the demonstrations should have been arrested but that that has also not happened either.” S o f a r t h e g o v e r n m e n t ’s a n t i graft agency has filed one significant corruption case that does not include key political figures. The politicians accused of corruption by protesters are preparing to contest upcoming elections and there has been no case filed against leaders

who were in power when protesters were injured in September.

Demonstrators say promises have not been met

DOZENS of demonstrators, including some who were injured in September, recently have protested against the government they brought to power. These protests outside the prime minister’s office has been held in the

past few weeks with police forced to break some of them. “We are back here in the street because the government has failed to live up to their promise. There are so many families of those who lost their lives and many who were injured but what has the government done? Nothing,” said Suman Bohara, who walks with crutches on a shattered right foot. “We are here because

we are compelled to.” Tens of thousands of mostly young demonstrators first gathered in Kathmandu on Sept. 8 to protest widespread corruption, lack of opportunities, employment and poor governance, which was triggered by a ban on social media. They broke through police barricades and attempted to enter parliament, only to be shot by security forces.

A10 Thursday, January 8, 2026

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Groups girding to file another impeachment case vs Sara By Jovee Marie N. dela Cruz

@joveemarie

NEW impeachment complaint against Vice President Sara Duterte could be filed next month, as the constitutionally mandated one-year ban on filing lapses on February 6, 2026, lawmakers said on Wednesday.

House will insist on its own rules by February 6 if the MR hasn’t been resolved. That will be a decision for the House,” Ridon said. He added that the key factor is the status of the Supreme Court appeal. “If the MR is resolved favorably to the House, there would be no need for a new complaint. The Senate trial would proceed, which would guide us when new complaints are filed on February 6,” he explained. For his part, Party-list Rep. Antonio Tinio of ACT Teachers, said that the decision of the SC on the previous 2025 impeachment complaint could influence the next steps. “If the Supreme Court reconsiders its ruling, the Senate trial would continue, and there would be no need to refile a new complaint,” he explained. However, Tinio of the Makabayan bloc added that if the SC decision is not released by February, the complainants would have to meet and likely decide whether to file a fresh complaint. The previous Articles of Impeachment, filed on February 5, 2025, accused Duterte of multiple

serious offenses, including conspiring to assassinate President Marcos, First Lady Liza Marcos, and then-Speaker Martin Romualdez; misusing P612.5 million in confidential funds with questionable documentation; engaging in bribery and corruption during her tenure as Secretary of Education; accumulating unexplained wealth and failing to disclose assets, with her net worth reportedly quadrupling between 2007 and 2017; participating in extrajudicial killings in Davao City; and taking actions aimed at destabilizing the government, such as boycotting the State of the Nation Address, leading rallies calling for Marcos’ resignation, and obstructing congressional investigations. The complaint also cited the overall conduct of Duterte in her role as the country’s second-highest official. Militant group Bagong Alyansang Makabayan (Bayan), as well as other civil society groups, is set to refile an impeachment complaint against Vice President Sara Duterte once the constitutionally mandated one-year ban on such filings expires.

Party-list Rep. Terry Ridon of Bicol Saro, House of Representatives Committee on Public Accounts chairman, clarified that the filing of a new complaint is possible even as the Supreme Court has yet to rule on the House of Representatives’ appeal concerning the High Court’s 2025 decision declaring the previous impeachment complaint against Duterte illegal. According to Ridon, the basis for the impeachment last year has not changed for this year. Ridon said that the filing of a

new case is not automatically dependent on the SC’s previous ruling. He noted that once the oneyear ban expires, anyone is free to act, although the unresolved motion for reconsideration could complicate how the House proceeds. The July 2025 ruling had struck down the previous complaint as unconstitutional for violating the one-year bar and due process. He also declined to speculate on how the House would handle the process. “I cannot say whether the

BARMM. . .

Remulla eyes stronger 911 in 2026

Continued from A5

“Although rice prices were still much lower than a year ago, the slower pace of decline eased the region’s overall deflation,” he said. The trend reflected the continued influence of the Food and NonAlcoholic Beverages commodity group, which remained the main driver of October’s inflation. The Food and Non-Alcoholic Beverages recorded a –3.2 percent inflation rate and contributed to an equivalent of 124.8 percent inflation share to the region’s overall rate, he said. In this group, the cereals and cereal products exerted the strongest pull, he said, recording –11.8 percent in October from –12.1 percent in September, driven largely by movements in regular milled rice. Other items contributing to the slight easing included cane sugar (–2.3 percent from –2.1 percent), cassava/manioc (–6.7 percent from –7.0 percent), gasoline (–2.8 percent from –2.1 percent), and bread, which maintained –0.9 percent for both September and October, contributing –0.03 percentage points. Camelia De Vera-Dacanay, chief economic development specialist of the Bangsamoro Planning and Development Authority (BPDA), said the continued decline in inflation shows that some sectors providing basic goods and services are still vulnerable. “Some of the sectors most affected are those providing basic goods and services,” she said. She said agriculture, retail services, and small-scale manufacturers were among the most vulnerable sector and needed stronger support to recover amid ongoing deflation, she said. Unfortunately, she added, they were also those who supply food and essential goods across the Bangsamoro region. Dacanay urged Cabinet departments or ministries and partner agencies to use available data for better planning. “We encourage our ministries and partners to use the data they have gathered so that planning and decision-making become evidence-based,” she emphasized. “This ensures that the programs and projects they design are suited to the needs of their sectors,” she added. Manuel T. Cayon

NTERIOR Secretary Juanito Victor Remulla on Tuesday bared plans to further enhance the efficiency of the Unified 911 System as the backbone of public safety this year. Remulla, in a statement, said more auxiliary assets will be procured for the government’s lifeline delivery. “This year, we will prioritize additional fire trucks, police vehicles, and emergency response assets to strengthen the Unified 911 system as investments in public safety,” he said.

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“This is not just a budgetary milestone. It is a statement of national priority and collective resolve,” he said. Acidre said the education budget re i n f o rc e s i t s a d vo c a c y o f “c a r i n g governance,” particularly efforts to bring

Super Flu. . . Continued from A5

All of the infected individuals have recovered from the said disease. “So, as you very well know, flu is a selflimiting illness unless you have a medical condition, like cancer or you an elderly. So, we still recommend the use of the flu vaccine,” Herbosa said partly in Filipino. He explained there are vaccines, which

Asean. . . Continued from A14

Myanmar held the first of three election phases on December 28, 2025, with the junta’s party winning nearly 90 percent of lower house seats. MNA said Phase I was “successful,” noting that Philippine Embassy officials joined international election observation teams. “The Philippines... provided positive assessments of the election,” the agency added. The leaders also outlined conditions for conducting Phases II and III in remaining townships, while both sides exchanged views on ensuring citizens retain their democratic rights. While Myanmar’s junta touted the

Last September, Unified 911 was launched to consolidate the country’s emergency hotlines into a single central number and modernize the emergency response system. It achieved a 97.92 percent efficiency rate for the more than 2.4 million handled calls in November 2025 through its National Call Center in Manila and the Regional Command Center in Cebu. Remulla, likewise, reaffirmed the responsible and purposeful utilization of public funds in line with the signing of the General Appropriations Act for FY 2026, supporting

President Marcos’ call for prudent fiscal management and uninterrupted public service delivery. Remulla also acknowledged the Department’s employees for their collective toil, underscoring that national policies are seamlessly translated into local action due to their commitment to excellent public service. “We will continue building a DILG that is trusted and effective. One that delivers good local governance, ensures public safety, and moves the country forward inclusively,” Remulla emphasized.

government services closer to learners, families, and communities that have long been underserved. He also emphasized the need for vigilant congressional oversight to ensure that the unprecedented funding is spent wisely, transparently, and effectively. “More importantly, we will work to ensure that this investment results in better learning outcomes, stronger institutions,

and greater opportunities for every Filipino learner,” he said. The lawmaker thanked Congress and President Ferdinand R. Marcos Jr. for backing what he described as a historic investment, noting that the scale of funding underscores a shared commitment by the executive and legislative branches to prioritize human capital development.

are locally available for the flu variants, which are found in the country, to prevent their spread. As long as those infected with super flu exercise precaution such a staying at home and using facemasks when going out, the disease can be contained. “So, our advice for flu is still public health precaution, cover your mouth and nose if you have a cough; if you’re immunocompromised get the flu vaccine,” Herbosa said. As for Filipinos who will travel in

countries with super flu, Herbosa urged them to exercise caution and also take the necessary vaccine. “I think the warning I will give is for Filipinos that will travel to the temperate countries, that will go to North America, to the UK,” he said. “If you’re going there, be knowledgeable that there is a spread of super flu in that area. Maybe get the northern hemisphere vaccine, that’s my best advice for them,” he added.

December 2025 elections as successful, UN human rights officials warned they were conducted in an environment of fear, repression, and coercion. The UN High Commissioner for Human Rights Volker Türk said civilians were forced to vote under military pressure while threatened by armed groups to boycott, leaving no space for meaningful participation. Rights observers have likewise dismissed the polls as a sham, underscoring the challenge facing Asean’s Five-Point Consensus and the Philippines’ chairship in 2026.

crime and online scams. Lazaro thanked Myanmar’s role in repatriating Filipino trafficking victims and granting amnesty to a Filipino national. Lazaro underscored the 70th anniversary of diplomatic relations between the Philippines and Myanmar this year. U Than Swe recalled the “friendly and constructive relations” between the two countries over the past seven decades, citing mutual assistance during natural disasters. He also thanked Manila’s emergency rescue team and aid following the recent Mandalay earthquake, and acknowledged the Philippine Embassy’s role in observing Phase I of the elections. The meeting concluded with a souvenir exchange and group photo between Lazaro and Myanmar’s leaders.

Filipino nationals, humanitarian cooperation

MNA reported that U Than Swe highlighted Myanmar’s cooperation with neighbors and regional partners in tackling transnational

Rex Anthony Naval

Jovee Marie N. dela Cruz

Samuel P. Medenilla

BCDA. . . Continued from A5

Taguig City Mayor Laarni Cayetano said the agreement strengthens the city’s education agenda while ensuring that public land is used to deliver tangible social benefits. “This partnership advances our shared goal of making education a

Red Cross. . . Continued from A5

PRC Chairman & CEO Richard J. Gordon said, “The Feast of Jesus Nazarene is a celebration of faith and devotion, but it is also our duty to protect the lives of every devotee. The Philippine Red Cross has been preparing for months with established protocols in case of any untoward incidents. All our staff and volunteers are committed to giving their very best to ensure a safe and orderly celebration.” Secretary General Dr. Gwen Pang added, “We urge all devotees to prioritize their health and safety. Stay hydrated, wear comfortable clothing and footwear, and seek help immediately if you

PHL bar. . . Continued from A1

Agatep Adviento (UST-Manila, 92.46 percent); Angelica De Castro Mitra (De la Salle Lipa, 91.68 percent); Marc Angelo Galvez Santos (UST-Manila, 91. 58 percent); Jeowy Loyloy Ompad (University of San Jose – Recoletos, 91.25 percent) and Enrico Gabriel Reyes (Ateneo de Manila University, 91.25 percent); Johann Raphael Silapan Gata (UST-Manila, 90.90 percent); Marie Shantelle Atienza (UP, 90.87 percent); Richmond Bulan Lucas (University of La Salette, Inc., 90.45 percent); Jusmin Teriann AfableYap (UP, 90.36); LeoTabuco Paran (Arellano University, 90.20 percent); Patric Kiel Quiroz (UE, 89.93 percent); Alfrancis Bagadiong Cabungcal (UP, 89.8 percent); Gerilin Ano-Os Gascon (Bukidnon State University, 89.71 percent); Ignaci Lorenzo Dela CruzVillareal (UP, 89.7 percent); Mae Angela Damaso Locsin (UST-Legazpi-Aquinas, 89.42 percent); Randall Lipnica Pabilane (Arellano University, 89.41 percent); Mikaella Franchesca Nuarin (ADMU, 89.38 percent); Chinzen Tañada Viernes (UP, 89.35 percent); and Ronald Vincent Ofrecio (UE, 89.31 percent). UST Faculty of Civil Law Dean Nilo Divina, in a text message, said producing five Bar topnotchers is “a testament to the dedication of our students, the tireless commitment of our faculty and the unwavering support of the Dominican fathers” led by Father Rector, Richard Ang, O.P. “At UST Faculty of Civil Law, our guiding formula has always been simple yet profound: study as if everything depends on study, and pray as if everything depends on prayer. We thank God for His grace, and we thank everyone who believed, worked hard, and prayed with us. This honor belongs to the entire Thomasian community,” he stressed.

Ateneo: First among schools

MEANWHILE, Ateneo de Manila University (ADMU) ranked first among the law schools with more than 100 examinees with 96.52 passing percentage followed by UP with 94. 63 percent; UST with 87.16 percent; Dr. Orestes Romualdez Educational Foundation with 64.88 percent and Far Eastern University with 59.22 percent. ADMU also ranked first among the 10 law schools with more than 100 first0time bar takers after 104 or 98.11 percent out of its 106 examinees passed the Bar. Ateneo de Davao University, on the other hand, topped the 18 law schools with 51 to 100 first-time examinees. It recorded 80 passers out of 80 Bar takers

Shippers. . . Continued from A14

“However, overall capacity, especially belly capacity on commercial flights, is projected to remain at levels similar to 2025 due to delays in aircraft deliveries,” the report of Dimerco noted. Catherine Chien, Chairwoman of Dimerco Express Group, emphasized cautious optimism for 2026, noting, “Ocean freight will be

cornerstone of community development and ensuring that public spaces serve the people who need them most,” Cayetano said. According to the state-run firm, this project adds to its portfolio of education-supportive developments, “aligning land use with long-term social returns while strengthening partnerships with local governments.” feel unwell. During the feast, let’s all look out for one another and keep safe.” PRC reminds participants to carry identification with emergency contact details and pre-existing medical conditions, set a meeting point in case of separation from their group, and avoid bringing valuables during the event. Those who are unwell, pregnant, elderly, or very young are advised to refrain from joining the procession. For more updates on PRC’s Feast of Jesus Nazarene Operations, follow the Philippine Red Cross on its official social media channels or contact the nearest PRC chapter. In case of emergencies, call the PRC Hotline 143. Claudeth Mocon-Ciriaco or a passing rate of 100 percent. De La Salle University-Manila came in second with 50 passers out of 53 examinees or a passing rate of 94.34 percent. Meanwhile, University of Makati topped the 81 law schools with 11 to 50 first-time Bar examinees. It recorded a 100-percent passing rate after all its 21 examinees passed the Bar. Justice Lazaro-Javier welcomed the Bar passers into the law practice and urged them “not to lose the idealism of a true servant of law.” The Bar chairperson, on the other hand, urged those who did not pass to continue pursuing their dream of becoming a lawyer. “So breathe today, let it all out, feel the...pain..it’s alright. It’s part of being human. But my darlings tomorrow find the strength to rise again, wipe the tears away, pick up the broken pieces, go out, try again. in God’s perfect time, in his perfect way you will realize the fulfilment of your hopes and dreams, always have faith, so soldier on, never stop trying to reach your goal...,” she stressed. The associate justice also shared that Declaro, who ranked second, took the Bar first time 12 years ago and never took it again until last year. She recounted that Declaro and his wife were both her students and that she managed to persuade him to take the Bar during their recent encounter. “I almost pleaded with him to try again and I assured him that it would be a just Bar. And he landed number 2. Imagine that,” the Bar chairperson said. Eduardo Rivera, 59 years old, also passed the Bar on his 11th attempt. In an interview with reporters, Regio said he first took the Bar exams in 1993 and vowed that 2024 would be his last try. “I actually wanted to stop, but I believed I might be able to do it ‘for the last time’ so my children would be inspired,” he said. “There’s nothing to lose,” he said. Justice Lazaro-Javier Regio’s story is “very inspiring” and proves that “hope springs eternal.” Gata, who ranked number 7, said he was only praying to pass the Bar exams on his first try. “My family serves as my inspiration to push through with my dream to become a lawyer,” Gata told reporters. Gata, who is eying private law practice, advised future Bar takers never to lose hope and confidence. The oath-taking and the roll signing of the Bar passers will be on February 6 at the Philippine Arena. shaped more by capacity imbalances and regional disparities, with potential disruptions linked to any return to Suez Canal route. Simultaneously, airfreight remains robust, driven by high-tech and e-commerce demands to North America and Europe.” Ted Chen, Director of Ocean Freight, advises caution despite the extended US-China tariff truce: “Until trade activity clearly recovers, any early return to the Red Sea could add excess capacity and further disrupt an already fragile market.”

Thursday, January 8, 2026 A11

New molasses order aims to ease supply glut By Ada Pelonia

@adapelonia

RADERS should purchase locally produced molasses before they could import the raw sugar byproduct as prices remain depressed due to a supply glut, the Sugar Regulatory Administration (SRA) said. The SR A issued Molasses Order (MO) 2 for crop year 20252026, which directed eligible traders to purchase and withdraw local molasses first. “ Not w it hst a nd i ng t he l aw

mandating that bioethanol producers exclusively use locally produced molasses for their feedstock, and despite the substantial volume of bioethanol produced annually, still, the volume pur-

chased and price of locally produced molasses remain low,” the order read. Given the substantial stockpile of molasses and its continuing production, the SR A said it “deemed it necessary to implement a purchase of locally produced molasses to avail of the privilege to import molasses.” Data from the SR A showed that the local supply of molasses as of mid-December stood at 460,037 metric tons (MT), up by nearly 35 percent from the 340,976 MT a year ago. Of this, 244,378 MT came f rom t he prev ious crop year 2024 -2025. Domest ic supply was beefed up by the additional production of 215,658 MT in the

current crop year. Furthermore, millsite price of molasses plunged by almost 57 percent to P7,088 per MT in the reference period, from P16,476 per MT in the previous year. SR A A d m i n i s t r at or Pa blo Luis A zcona is pinning his hopes on t he order to prop up t he loc a l pr ices of t he raw suga r by product. “We hope MO2 encourages the use of local molasses first, hopefully raising [farmgate] prices,” Azcona told the BusinessMirror. Under the order, traders who participated will be allowed to import at a ratio of 3 (locally produced molasses purchased): 1 (imported molasses). However, the agency raised a

caveat that it could allow additional volume of molasses shipments if deemed necessary. The SR A is set to issue a circular that will stipulate the rules regarding importation, including the application for clearance prior to shipment. “I think we don’t need a separate MO or SO [Sugar Order] on the import [volume]. We will base their clearances on the purchase,” Azcona said. The SR A extended the temporary ban slapped on molasses imports until end-March of 2026 to arrest the slide in millsite prices due to elevated domestic stockpiles. Molasses Order (MO) 1 issued by the agency last October

initially suspended the entry of foreign shipments of the sugar byproduct until the end of 2025 to prevent millsite prices from falling further. Prior to the ban, Azcona raised the alarm over the buildup of local molasses stocks coinciding with the spike in imports of the product, which triggered the agency’s issuance of the import freeze. “The extension will help relieve our millers’ tanks of local stock and, hopefully, support better molasses prices.” Molasses are a byproduct in sugarcane milling process, which is used for bioethanol, animal feeds, food processing, and alcohol production.

US to urge Americans to Imported fertilizers, coffee costlier in 2025—World Bank cut down on added sugars T in new diet guidelines

HE Trump administration is expected to advise Americans to pare back their sugar consumption under new Dietary Guidelines, urging people to eat no more than 10 grams of added sugars per meal, according to a person familiar with the matter. The latest edition of the federal Dietary Guidelines, slated to be officially unveiled later this week, are expected to urge people, especially children, to avoid added sugars, which are those that don’t occur naturally in foods like fruit and milk. They are also expected to tell Americans to shun highly processed foods, the mainstay of the US food industry. The recommendations largely reflect the worldview of Health Secretary Robert F. Kennedy Jr., who has called sugar “poison” and said ultra-processed food played a major role in expanding chronic diseases in the United States. The guidelines are updated roughly every five years by the Health and Human Services and Agriculture departments. The new recommendations are expected to keep in place the overall limit of no more than 10 percent of calories from added sugars for those over two years old. While few Americans hew exactly to the federal guidelines, the updated advice could accelerate consumers’ shift away from packaged food, a trend already underway. Consumers who are trying to limit added sugars to no more than 10 grams per meal would have to avoid many sweetened cereals and full-sugar sodas. A 12-ounce can of regular Coca-Cola contains 39 grams of sugar. Shares of some food and beverage companies, including General Mills Inc., Kraft Heinz Co., CocaCola and PepsiCo Inc., fell on the news, even as US stocks closed at a new record. The revamped Dietary Guidelines may also increase the amount of protein Americans are advised to consume daily, above the cur-

rent recommended daily allowance of 0.8 grams of protein per kilogram of body weight. However, they are likely to keep in place the current limit on saturated fat, despite top health officials’ public comments that it has been unfairly demonized. The White House, HHS and USDA did not immediately respond to a request for comment.

Saturated fats

CHANGING the current guidance to get no more than 10% of calories from saturated fat would have put the administration at odds with much of the established nutrition guidance, which has largely linked diets higher in saturated fat with an increased risk of cardiovascular disease. Saturated fats are found in animal-based foods, including all kinds of meat and full-fat dairy products, as well as some baked and fried foods. FoodFix first reported some elements expected of the new guidelines around protein, saturated fat and added sugars. The dietary guidelines, which were last updated in December 2020, shape what nearly 30 million children eat in school and influence what millions more consume through federal nutrition programs. They also are a foundation for the advice that doctors and dietitians dole out to patients, though most Americans fall short of the standard. Kennedy and other officials have been clear they planned to target highly processed foods, which are typically made with industrial ingredients, including preservatives, sweeteners and artificial ingredients not usually found in the average kitchen. In July, the US Food and Drug Administration and the Agriculture Department started the process of crafting a definition for what constitutes ultra-processed food, though Kennedy told Bloomberg News that the government may never settle on a single definition. Bloomberg News

CONSUMERS who are trying to limit added sugars to no more than 10 grams per meal would have to avoid many sweetened cereals and full-sugar sodas. BLOOMBERG

HE international prices of commodities that the Philippines buys or sells registered increases in 2025, based on the World Bank’s latest report. Figures from the World Bank showed that the average quotations for coffee varieties, such as arabica and robusta, posted were higher last year. T he average arabica prices leaped by 50.71 percent to $8.47 per kilo last year from $5.62 per kilo in 2024, while the average quotation for the robusta variety grew by 10.2 percent to $4.86 per kilo in 2025 from $4.41 in the previous year. These average prices of arabica and robusta coffee varieties were higher than the World Bank’s projection of $8.3 per kilo and $4.8 per kilo, respectively. The average quotation for cocoa also went up by 6.41 percent to $7.8 per kilo in 2025 from the previous year’s $7.33 per kilo. This was lower than the World Bank’s forecast of $8 per kilo. Fertilizers like DAP and urea, which are critical farm inputs imported by the Philippines, were more expensive in 2025. The price of DAP jumped by 21.55 percent to $685.2 per metric ton (MT) from $563.7 p er M T, wh i le u re a rose b y nearly a quarter to $422.7 per MT from $338.3 per MT in the previous year.

COFFEE beans at a shop in Hanoi, Vietnam. BLOOMBERG

The average prices of DAP and urea fertilizers in 2025 were lower than the international organization’s outlook of $710 per MT and $440 per MT, respectively. World Bank figures also indicated that the average price of coconut oil, the country’s leading farm export, surged by 63.27 percent to $2,480 per MT in 2025 from $1,519 per MT a year ago. The average price was lower than the international organization’s forecast of $2,505 per MT

due to tight supply. Meanwhile, prices of certain metals also recorded year-on-year increments in 2025, according to the World Bank report. The average price of aluminum rose by 8.81 percent to $2,632 per MT last year from $2,419 per MT recorded in 2024. This was higher than the World Bank’s forecast of $2,580 per MT in 2025. Copper and tin quotations showed an 8.81 percent and 13.28 percent increase to

$9,947 per MT and $34,059 per MT, from the previous year’s $9,142 per MT and $30,066 per MT, respectively. The average price of copper and tin in 2025 was higher than the World Bank’s forecast of $9,700 per MT and $33,000 per MT, respectively. Zinc prices also inched up in 2025 to $2,868 per MT from $2,776 per MT, which is higher than the organization projection of $2,800 per MT. Ada Pelonia

‘Falling oil prices bode well for local farm sector’

LOBAL quotations for fertilizer, a critical farm input imported by the Philippines, could decline as oil prices fell after the United States captured Venezuelan leader Nicolás Maduro, according to economists. University of Asia and the Pacific Center for Food and Agribusiness (UA&P-CFA) Executive Director Marie Annette Galvez-Dacul said lower global oil prices could reduce fuel and transport costs in the Philippines. “This may help ease fertilizer prices, since energy is a major input,” Dacul told the BusinessMirror. “But the impact will depend on exchange rates, existing contracts, and how fast price cuts reach the local market.” While the recent USVenezuela conflict could weigh on fertilizer prices, Roehlano Briones, a senior research fellow at the Philippine Institute for Development

Studies (Pids), noted that oil quotations have been on a downward trend. “Fossil fuel prices move together so [it] will tend to pull down urea prices. I think fuel prices have been on a downtrend independent of the Venezuela attack,” Briones told this newspaper. When asked if he was concerned about a stronger dollar, he said: “Not really, (because) it will boost our export sectors.” Reuters recently reported that oil prices fell on Tuesday as the market weighed expectations of sufficient global supply this 2026 against the uncertainty around Venezuelan crude output following Maduro’s capture. Brent crude futures fell $1.06, or 1.7 percent, to settle at $60.70 a barrel, while US West Texas Intermediate crude fell $1.19, or 2 percent, to $57.13 a barrel, according to Reuters.

Port construction

THE Department of Agriculture (DA) recently disclosed its plans to build over P2 billion worth of deepwater ports this year to reduce the cost of transporting fertilizers, as the country remains at the mercy of volatile global prices. (See: https:// businessmirror.com. ph/2025/12/29/%e2%82%b12b-deepwater-ports-to-cutfarm-input-transport-costs/) Agriculture Secretary Francisco Tiu Laurel Jr. said the DA’s 2026 General Appropriations Act (GAA) will bankroll the deepwater ports set to be built in Abra de Ilog, Mindoro and Dipolog, Zamboanga del Norte. He noted that Mindoro requires around 100,000 metric tons (MT) of fertilizer annually, but these would need to hurdle various transfer points before they reach farmers, thus racking up costs.

“Just at the logistics level, it’s already expensive,” he told reporters. “If the fertilizer imported from its origin— let’s say China or Vietnam— goes directly to Mindoro, then the production cost will be significantly lower if you produce corn, onions, or rice.” The DA chief explained that deepwater ports could also pull down the retail prices of agricultural commodities due to their larger capacity. “In deepwater ports, each ship can accommodate 1,000 MT, so it’s economies of scale. Then you can bring down the prices.” Furthermore, he noted that P400 million has been allotted to expand the Pantao Port in Albay as a deepwater port to cater to Southern Luzon, pending further studies. “Hopefully, [the construction for these deepwater ports] can start before June 2026 and be operational at the end of 2027.” Ada Pelonia

A12 Thursday, January 8, 2026 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

PHL recalibrates for inclusive growth with realistic targets

HE recent downward revision of the Philippines’s medium-term growth targets by the Development Budget Coordination Committee is a necessary dose of realism in an uncertain world. While the adjustment from a 6 percent to 7 percent goal to 5 percent to 6 percent for this year may temper short-term enthusiasm, the administration’s rationale and forwardlooking focus offer a critical opportunity. The true measure of this policy shift will not be in the lowered numbers themselves, but in how effectively the government uses this recalibrated framework to build a more resilient and inclusive economy.

Secretary Arsenio Balisacan rightly cites the “lingering global uncertainties”—from turbulent trade regimes to muted investment flows—as primary reasons for the adjustment. For an economy like the Philippines, these are not mere excuses but formidable headwinds. Acknowledging them is the first step in crafting a responsive strategy. More importantly, the administration’s narrative has wisely pivoted from chasing headline growth at all costs to emphasizing the quality of expansion. (Read the BusinessMirror story: Global, local headwinds spur growth downgrade, January 6, 2026). Balisacan offered the candid and welcome assessment that past economic growth too often “benefited only a small section of the population.” It underscores a vital lesson: speed without equity is ultimately unsustainable. The promising elements of the government’s outlook must now be translated into tangible results for every Filipino. The anticipated drivers—rising employment, steady remittances, rebounding consumer confidence, and a favorable interest rate environment—are positive. However, they are largely factors that enable growth. The active ingredients for transformative development lie in the deliberate policy choices the administration highlights: governance reforms, and a budget laser-focused on “health, education, social protection, and job creation.” The record P6.793-trillion 2026 national budget, signed on Monday by President Marcos, is presented as the vessel for this inclusive vision. This is where public scrutiny must be most intense. Every peso allocated to education must translate into better learning outcomes and workforce readiness. Every investment in health must strengthen our systems beyond crises. Every infrastructure project must generate quality jobs and spur productivity in the regions. The budget is a blueprint; its implementation is the construction site. Without rigorous, transparent, and corruption-free execution, the goal of inclusivity will remain a slogan. Therefore, while the scaled-down targets reflect a prudent management of expectations, they should not lower our ambitions for national progress. This move calls for a collective shift in perspective. Let us judge economic management not solely by whether we hit a specific GDP bullseye, but by whether growth translates into fewer families in poverty, more stable and dignified livelihoods, and a broader sense of shared advancement. President Marcos signed a large budget promising inclusivity. The economic managers have rightly tempered expectations. The nation now watches, not just for the GDP figures to eventually climb back towards 7 percent, but for the undeniable proof that this administration can translate its inclusive vision into lived reality for the millions of Filipinos for whom “growth” has too often been an empty statistic. The revised targets are a map adjustment; the real journey—towards resilient, shared prosperity—demands far more decisive navigation.

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No sovereignty without domestic energy John Mangun

OUTSIDE THE BOX

HAVE said it before, and I will keep saying it until the data actually sinks in: Energy is the absolute bedrock of a nation’s economy. You can talk about “digital transformation” and “service-sector growth” until you are out of breath but if you cannot fuel a truck or power a factory without begging a neighbor for petroleum, you are not a sovereign economy. You are a hostage to global supply chains and the whims of foreign central banks.

The Chinese government announced a Christmas gift to its people shortly before the New Year 2026 began. The recent news is that China National Offshore Oil Corp. (CNOOC) has “discovered” another 100 million tons of oil in the Bohai Sea’s Qinhuangdao 29-6 field but is being treated as a “regional development.” It is not. It is a masterclass in national survival that we are currently failing. While our pundits are busy arguing over the latest political scandal, Beijing is busy securing the next 30 years of industrial output. This new find—about 730 million barrels—is medium-heavy crude. In the global market, that is “ugly” oil. It is more expensive to refine and harder to extract than the lightsweet stuff coming out of the Middle East. But for Beijing, the “cost” of extraction is secondary to the “cost of energy dependence.” China knows that 70 percent of its crude oil consumption is imported. They know that a significant portion of that travels through strategic

chokepoints of the Strait of Malacca and the Strait of Hormuz. If that tap gets turned off, their economy grinds to a halt. By developing the Shijiutuo Uplift—a basin many “experts” claimed was already tapped out—they are proving that mature fields do not stop producing because the geology gives up. They stop when investment, patience, and political will gives up. China’s offshore expansion also carries diplomatic consequences. Although Qinhuangdao 29-6 lies well within undisputed waters, CNOOC is a central player in contested areas of the South China Sea. Each successful domestic project reduces China’s economic incentive to compromise in joint development talks elsewhere. From a negotiating standpoint, energy self-confidence is leverage. But there is also a global dimension. CNOOC is not retreating inward. China is building an energy fortress. The company remains a minority partner in ExxonMobil’s Guyana developments, which have

As a net importer of nearly 99 percent of our petroleum requirements, we are a “price taker,” not a “price maker.” According to the BSP, we remain one of the most vulnerable nations to global supply disruptions. Every time the global price of Brent crude spikes, the average Filipino takes a pay cut. We are essentially running a circular firing squad: we export our most valuable resource— human capital (our OFWs)—to earn the dollars we need to buy the energy those very workers should have been using to build industries right here at home.

surpassed 11 billion barrels of discovered resources and are among the lowest-cost offshore projects worldwide, according to Rystad Energy. China is pursuing a dual strategy: maximize domestic production while maintaining exposure to premium overseas assets. This is not ideology. It is portfolio management. Meanwhile, our own “strategic” vehicle, the Maharlika Wealth Fund, is still stumbling around trying to find a purpose, while the rest of the world is out there securing the physical assets that actually drive GDP. As a net importer of nearly 99 percent of our petroleum requirements, we are a “price taker,” not a “price maker.” According to the BSP, we remain one of the most vulnerable nations to global supply disruptions. Every time the global price of Brent crude spikes, the average Filipino takes a pay cut. We are essentially running a circular firing squad: we export

our most valuable resource—human capital (our OFWs)—to earn the dollars we need to buy the energy those very workers should have been using to build industries right here at home. Viewed from Manila, the contrast is uncomfortable. The Philippines has spent the past decade debating its offshore energy potential while doing little to develop it. Malampaya, once the backbone of Luzon’s power generation, is declining, and replacement volumes have not materialized. The Department of Energy continues to promote exploration blocks, yet regulatory uncertainty, fiscal terms, and geopolitical risk have kept serious investment limited. Meanwhile, liquefied natural gas imports are rising, paid for in US dollars and exposed to price swings driven by conflicts far from Philippine shores. The Qinhuangdao 29-6 discovery will not change the price at the gas station. But it illustrates a commitment to national interest that is clinical and effective. We need to stop treating energy policy as a “controversial” topic for the next administration to handle and start treating it as a mathematical necessity. We must ask ourselves if we are content to remain a spectator in the regional and even global energy race, forever reacting to the decisions made in Beijing or Washington. It is one thing to acknowledge our vulnerability; it is quite another to accept it as a permanent condition of our national life. E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

Trump won’t rule out military force to acquire Greenland By Kate Sullivan & Sara Sjolin

RESIDENT Donald Trump won’t rule out the use of military force to acquire Greenland, the White House said, escalating tension with Denmark, a fellow Nato member, over a dispute that’s surged back into public view following the ouster of Venezuelan strongman Nicolas Maduro. Trump is considering many ways of achieving his goal of acquiring the Arctic island, White House Press Secretary Karoline Leavitt said in a statement. “President Trump has made it well known that acquiring Greenland is a national security priority of the United States, and it’s vital to deter our adversaries in the Arctic region,” Leavitt said. “The president

and his team are discussing a range of options to pursue this important foreign policy goal, and of course, utilizing the US military is always an option at the commander in chief’s disposal.” Still, Secretary of State Marco Rubio downplayed the notion of military action in a briefing with lawmakers on Monday, instead signaling that an invasion was not im-

“President Trump has made it well known that acquiring Greenland is a national security priority of the United States, and it’s vital to deter our adversaries in the Arctic region,” Leavitt said. “The president and his team are discussing a range of options to pursue this important foreign policy goal, and of course, utilizing the US military is always an option at the commander in chief’s disposal.”

minent and that the goal was to buy the island from Denmark, the Wall Street Journal reported.

Nevertheless, Rubio’s comments paired with Leavitt’s statement, first reported by Reuters, are likely to further chill relations with Denmark and Greenland’s leaders, who have pushed back vehemently against Trump’s renewed demands to take control of the island. The president has mused about making Greenland part of the US since his first term, but has ramped up the rhetoric after launching a military operation last week to oust Maduro. In an effort to resolve the issue, Danish Foreign Minister Lars Lokke Rasmussen said the governments of Denmark and Greenland requested a meeting with Rubio. Greenland’s See “Trump,” A13

www.news.businessmirror@gmail.com

Opinion BusinessMirror

Thursday, January 8, 2026 A13

Russia recruited South India exporters risk losing US orders Africans for its war in without January trade deal Ukraine using a gaming app One of steepest levies imposed By Satviki Sanjay & Shruti Srivastava

By Antony Sguazzin

USSIA targeted South African video gamers as part of a recruitment drive for its war in Ukraine, according to documents involving two men who left to fight.

The men in their 20s left South Africa in July last year after talking about joining the Russian military to a gamer over an app called Discord, based on email exchanges with diplomats by a friend seeking information on their whereabouts and wellbeing. The South Africans regularly used Discord while playing the military game Arma 3, a person familiar with how they were recruited said, asking not to be identified. Within weeks of signing a military contract near St. Petersburg, a medical certificate showed one of them was killed fighting in Ukraine, according to the person. The recruitment of soldiers for Russia has caused a scandal in South Africa in recent weeks. Fighting for or assisting the military of a foreign country has been illegal in the country since 1998. On November 20, Bloomberg reported that a daughter of former President Jacob Zuma was involved in recruiting men from Botswana and South Africa for Russian military service. They had allegedly been told they would be going on a bodyguard training course. In late November, a female South African state radio presenter was arrested together with four men on allegations she was recruiting them for the Russian military. They have since been charged with breaking the law, released on bail and will next appear in court on February 10. They have made no public statements.

Consulate visit

THE two gamers joined the war in Ukraine in 2024. After discussions with a person who identified themselves on the Discord app as @Dash, the South Africans met up in Cape Town before visiting the Russian consulate, according to emails and the person familiar with what happened. Discord has been restricted in Russia since October 2024. The two left for Russia via the United Arab Emirates on July 29. After arriving in Russia, they met @ Dash and signed one-year military contracts in early September, the person familiar with the situation said. The South African presidency and the Department of International Relations and Cooperation didn’t respond to questions about the recruitment and the potential involvement

The South Africans regularly used Discord while playing the military game Arma 3, a person familiar with how they were recruited said, asking not to be identified. Within weeks of signing a military contract near St. Petersburg, a medical certificate showed one of them was killed fighting in Ukraine, according to the person. of the Russian consulate. The Russian embassy and the Russian consulate in Cape Town didn’t respond to e-mailed requests for comment. Repeated calls to the Cape Town consulate were not answered. The press service for Discord didn’t respond to emailed requests for comment. After a few weeks of basic training, one of the men went to the front line in Ukraine where he served as a marksman’s assistant to the grenade launcher, a copy of his contract showed, according to the person familiar with the situation. He was last in contact with his family on October 6 and his friend told them on December 17 he had been killed in action. The other man’s whereabouts are unknown. A medical certificate dated Jan. 10 of last year that was obtained by his family showed that he had died in active service on October 23, 2024, in Verkhnekamenskoye, a location in Ukraine’s Luhansk region, the person said. In addition to what they saw as lucrative military contracts, the two South Africans were told they could potentially get Russian citizenship and further their education if they served in the military, the person said. Hundreds of thousands of Russian soldiers have been killed or wounded since Vladimir Putin’s fullscale invasion of Ukraine in February 2022, leading to a manpower shortage. Kenya’s foreign minister said in November as many as 200 of the country’s citizens were fighting for Russia and there have been reports of Russia recruiting soldiers in nations such as Cameroon and Burkina Faso. None of those have been through the use of a gaming communications app. Bloomberg

NDIAN exporters of products ranging from home decor to leather shoes are worried about missing the US summer shopping season if they are unable to lock in orders in January as trade-deal talks drag on between New Delhi and Washington. This will be the decisive month for sealing the trade pact so contracts can be secured for the first half of 2026, according to half a dozen local exporters who spoke to Bloomberg News. The punitive 50 percent US tariffs since August already hurt the exporters’ order volumes in the typically busy winter and Christmas season in 2025. One of steepest levies imposed by the Donald Trump-administration continue to deal a heavy blow to India’s laborintensive sectors, especially textiles, handicrafts, apparels, gems and leather. Despite multiple rounds of talks, including four conversations between Trump and Prime Minister Narendra Modi since August, the slow progress in the trade deal has pressured the rupee and forced New Delhi to dole out $5 billion to protect Indian exporters. Rafeeque Ahmed, chairman of Farida Group that is one of the largest shoemakers in India, said Jan. 15 is the cutoff date for securing bulk orders from the US to ensure stable revenue for the summer and autumn seasons. The Tamil Nadu-based company derives about 60 percent of its export revenue from American markets. “I have cut down production by 20 percent to 25 percent and laid off workers,” said Ahmed, who supplies to international brands like Cole Haan and Clarks. “How long can we

Trump. . .

continued from A12

foreign minister, Vivian Motzfeldt, said in a Facebook post that the aim of the talks would be “to discuss the United States’ strong statements regarding Greenland.” “When we want this, it is of course because we have the impression that part of this discussion is based on a misreading of what is what,” Lokke Rasmussen told reporters following a meeting at the parliament’s Foreign Policy Committee, according to local media. “We believe it makes sense to try to

sustain this and keep giving discounts?”

Mixed signals

TRUMP, meanwhile continues to send mixed signals. He told reporters on Sunday that high tariffs had pushed New Delhi to reduce Russian oil imports. Trump added that Modi knew he was “not happy,” and because India trades with the US, “we can raise tariffs on them very quickly, and it would be very bad for them”—remarks that raised doubts about whether he intends to remain combative toward India or move to expedite a trade deal. India’s oil imports from Russia in December fell 40 percent from a June peak of 2.1 million barrels a day, a noticeable gain for Trump who has intensified efforts to choke off cash flows to Vladimir Putin’s war machine and end the Ukraine conflict. In 2024, before trade headwinds darkened sentiment, India shipped goods worth $87.4 billion to the US, accounting for almost onefifth of the country’s total exports. US government trade data show apparel imports dropped by about 12 percent to $376 million in September 2025 compared with the year-ago period. Imports of rugs fell by 10 percent to $98.4 million over the same period. “If the deal doesn’t happen quickly then April-August and holiday shipping would be impacted,” said Gautam Nair, director of Matrix Design, an apparel maker located on the outskirts of New Delhi. “First half would then be a arrange a meeting with our American counterparts in order to clear up some of the misunderstandings that may exist.” Earlier on Tuesday, European leaders issued a joint statement, warning that Trump needs to respect the territorial integrity of Greenland and Denmark. The leaders stressed that Greenland falls under Nato’s collective defense umbrella as part of the Kingdom of Denmark and that security in the Arctic must be achieved collectively with Nato allies. A State Department spokesperson said Tuesday night that the US, Denmark and NAato have a common

by the Donald Trump-administration continue to deal a heavy blow to India’s labor-intensive sectors, especially textiles, handicrafts, apparels, gems and leather. Despite multiple rounds of talks, including four conversations between Trump and Prime Minister Narendra Modi since August, the slow progress in the trade deal has pressured the rupee and forced New Delhi to dole out $5 billion to protect Indian exporters. complete washout.” As part of efforts to diversify its markets beyond the US, India in recent months has forged new free trade alliances with New Zealand, Oman and the UK. Negotiations with the EU, Australia, Chile and Peru are ongoing.

Salvaging relationships

TO offset losses, many exporters are also scrambling to salvage supplier relationships by offering discounts or traveling abroad to secure new clients and reassure existing ones. Lalit Thukral, founder of textile exporter Twenty Second Miles, said August through December is typically the busiest period for the industry, but this year it delivered losses instead. Preparing for tougher days ahead, he traveled to the UK with a 15-person delegation in November looking for new customers. Tiruppur-based R.K. Sivasubramaniam, whose firm makes basics like underwear, will visit the US in January to scout for buyers. Sivasubramaniam has cut his production since August by 50 percent. “We are trying to get newer buyers but it is not possible to grab interest regarding heightened activity by adversaries in the Arctic, and that Washington was seeking commercial ties that would be beneficial to both the Greenland people and American. The foreign ministers of Denmark, Finland, Iceland, Norway and Sweden also issued a joint statement on Tuesday with a similar message to respect “the fundamental principles of the UN Charter and international law, including the inviolability of borders.” Danish Prime Minister Mette Frederiksen warned on Monday that any US attack on Greenland would spell the end of the Nato alliance

them immediately,” he said, adding that this work trip was crucial for his business. “Other US buyers are indefinitely gone.” Vijay Sethi, a director at Sethi Handicrafts, has lost several American clients despite offering discounts of as much as 20 percent. The maker of home-decor products, based in a town just outside of New Delhi, has meetings with US buyers lined up in January.

Finding workarounds

SEVERAL gems and jewelry exporters are experimenting with costly workarounds to blunt the impact of the tariff. Some have set up US subsidiaries to manage trade locally, while others are shifting parts of their manufacturing to countries like the United Arab Emirates, where duties are about 15 percent, said Sabyasachi Ray, executive director of the Gem and Jewellery Export Promotion Council. “They’ve had to change the way of doing business,” said Ray. But the workarounds “have taken a toll.” Apparel suppliers such as Raymond Lifestyle Ltd. and Gokaldas Exports Ltd., were among the firms considering moving some of their production to African countries. Gokaldas has four factories in Kenya and one in Ethiopia, while Raymond was looking to use its Ethiopia plant to supply American buyers, as tariffs in these countries are as low as 10 percent. “Exporters don’t have much choice right now,” said Ajay Sahai, director general of Federation of Indian Export Organizations. “They are looking at alternative markets, selling locally and one thing has become very clear—we can’t overly depend on the US for exports.” With assistance from Rakesh Sharma and Shinjini Datta/Bloomberg

and “the security that has been established since the end of the Second World War.” US officials have only continued to intensify their rhetoric over the issue. In an interview with CNN, White House Deputy Chief of Staff Stephen Miller said that in a world “governed by strength,” the US has a right to take the territory. “This is of course not something we can agree to,” Lokke Rasmussen said. “And it is also not something that Greenland has any ambitions of agreeing to, so that is obviously a red line.” With assistance from Justin Sink, John Harney and Natalia Drozdiak/ Bloomberg

Saudi Arabia cuts flagship oil price to Asia for third month

South Korea’s Lee sees Japan ties as vital as China relations

By Yongchang Chin & Lucia Kassai

AUDI Arabia dropped the price of its flagship crude grade to Asia for a third month on persistent signs of oversupply in the market.

State producer Saudi Aramco reduced the price of its Arab Light grade for customers in Asia to a 30-cent premium to the regional benchmark for February, according to a price list seen by Bloomberg. That was broadly in line with a Bloomberg survey of traders and refiners. The cut comes as the Organization of the Petroleum Exporting Countries and some of its allies stuck with plans to pause supply increases in the first quarter. In their meeting over the weekend, delegates said they didn’t discuss Venezuela during the 10-minute video conference, and that it’s premature to gauge how the US’ capture of the South American country’s leader Nicolas Maduro will impact supplies.

The cut comes as the Organization of the Petroleum Exporting Countries and some of its allies stuck with plans to pause supply increases in the first quarter. In their meeting over the weekend, delegates said they didn’t discuss Venezuela during the 10-minute video conference, and that it’s premature to gauge how the US’ capture of the South American country’s leader Nicolas Maduro will impact supplies. Aramco also lowered prices of its barrels across all grades to every other region as well, including the US and Europe. Global crude benchmarks re-

treated by about a fifth last year, with Brent posting its worst annual decline since 2020, on mounting concerns about a worldwide glut following an earlier round of supply hikes from Opec+ and rising output from rival drillers. The International Energy Agency has forecast a surplus of about 3.8 million barrels a day for this year. Middle East crude markets have also weakened, with the forward curve for grades including the Dubai benchmark and Abu Dhabi’s Murban futures slowly giving up their bullish price structures in recent weeks. Besides Venezuela, geopolitical risks elsewhere continue to cloud the outlook for production among several Opec+ members. They range from the war between Ukraine and Russia, as well as US sanctions on Russia and Iran. A dour outlook from top crude importer China— a major customer for several Opec+ countries—is also weighing on sentiment. Bloomberg

By Soo-Hyang Choi

OUTH Korean President Lee Jae Myung said the country’s relations with Japan are as important as those with China, seeking to balance his country’s foreign interests at a time when Beijing is courting Seoul while turning up pressure on Tokyo over a lingering diplomatic dispute.

“For us, relations with Japan are as important as those with China,” Lee told reporters in Shanghai on Wednesday before wrapping up a four-day trip to China that included a summit with President Xi Jinping. The comments came a day after China announced export controls on items destined for Japan that could have military use. The step was its latest retaliatory measure amid a diplomatic standoff following remarks made by Japanese Prime Minister Sanae Takaichi in early November that suggested Tokyo could deploy its military if China uses force to try and seize Taiwan. Asked about China’s new con-

“For us, relations with Japan are as important as those with China,” Lee told reporters in Shanghai on Wednesday before wrapping up a four-day trip to China that included a summit with President Xi Jinping. trols, Lee struck a cautious tone as he sought to avoid being dragged into a conflict between South Korea’s two key neighbors. “If we intervene at the wrong time, it may not be helpful. When the time and circumstances are right, we will look for an appropriate role to play,” Lee said, adding that what Seoul can do at this point is “very limited.”

South Korea is analyzing the potential impact of the Chinese export controls on its own economy, including for its processed exports, Lee said. “I hope the issue will be resolved smoothly.” Lee and Xi affirmed the value of their bilateral ties at their second meeting in two months on Monday, signaling efforts by both sides to stabilize relations as geopolitical tensions mount in the region and beyond. While the two countries stopped short of announcing the lifting of China’s informal ban on Korean popular entertainment, Lee said he expects the issue to be resolved over time. With regards to North Korea, the South Korean leader asked Xi to play a mediating role toward resuming dialogue with Pyongyang. Lee also said that he secured Beijing’s agreement to remove some of its structures in the Yellow Sea after Seoul raised concerns. With assistance

from Shinhye Kang/Bloomberg

A14 Thursday, January 8, 2026

2nd Front Page BusinessMirror

SHIPPERS TOLD: BOOK 3-4 WKS AHEAD TO AVOID CNY-TIED HIKES By Andrea E. San Juan

@andreasanjuan

HILIPPINE shippers are advised to book three to four weeks in advance for exports to China and North Asia, Europe, and the US West Coast ahead of the Chinese New Year to dodge the higher shipping rates from late January to February, according to a report by logistics provider Dimerco Express Group. In its January 2026 Asia Pacific Freight Report, Dimerco noted that cargo shipped through air originating from the Philippines and bound for the United States this month are expected to experience tight capacity, which needs pre-arrangement of space. Moreover, air freight rates of shipments destined for the United States are already rising, the logistics provider noted. Meanwhile, rates of shipments originating from the Philippines bound for any Asian country remain stable with soft capacity, meaning supply still outweighs demand. For Philippine cargo bound for Europe, air freight rates remain stable but capacity is already on an upturn, meaning market is picking up, but demand of space can still be met by current supply.

For the Philippines’ air shipping, the report noted: “December 2025 export backlogs from the Philippines due to the holiday season are expected to carry over into January 2026, continuing to pressure space and rates at carrier hubs.” On goods being shipped through seas, cargo bound for Europe and the United States are seeing an upturn, meaning, market is picking up but demand of space can still be met by current supply. Freight rates for these shipments remain stable. As for shipments bound for Asian countries, rates remain stable while capacity is still soft, meaning, supply still outweighs demand. Meanwhile, for Philippine ocean shippers, the report said: “Chinese New Year typically tightens ocean freight capacity from the Philippines, pushing rates higher from late January to February.” “Book three to four weeks in advance for exports to China and North Asia, Europe, and the US West Coast,” added the report. Looking ahead, Dimerco noted that export volumes from Southeast Asia and Taiwan to the United States are expected to continue growing. See “Shippers,” A10

www.businessmirror.com.ph

Weak competitiveness in manufacturing hurts jobs

By Bless Aubrey Ogerio @blessogerio

ANUFACTURING posted one of the steepest year-onyear job losses in November 2025, shedding 150,000 positions and underscoring continued weakness in the sector, according to the Philippine Statistics Authority (PSA). Data from the latest Labor Force Survey showed that total unemployment stood at 2.25 million in November, translating to a 4.4-percent jobless rate. (See: htt ps:// businessmirror.com. ph/2026/01/07/2-25m-pinoysjobless-in-november-psa/) This was lower than the 2.54 million unemployed in October, when the rate was 5 percent, but still higher than the 1.66 million recorded in November 2024, when unemployment stood at 3.2 percent. Beyond manufacturing, several service-related subsectors also re-

corded sharp annual declines in employment. Accommodation and food service activities lost 309,000 jobs, wholesale and retail trade (including repair of motor vehicles and motorcycles) fell by 258,000, while other service activities declined by 250,000. On a month-to-month basis, employment fell most sharply in agriculture and forestry, which lost 517,000 jobs from October to November. This was followed by public administration and defense, including compulsory social security (-121,000), fishing and aquaculture (-78,000),

financial and insurance activities (-73,000), and manufacturing (-64,000). The Department of Economy, Planning, and Development (DEPDev) said the government is stepping up efforts to strengthen workforce competitiveness and help businesses weather global, domestic and climate-related headwinds. “The government is prioritizing investments in skills development, lifelong learning, and social protection systems to enable workers to transition across sectors and withstand economic shocks,” Depdev Secretary Arsenio Balisacan said in a statement. “Strengthening workforce competitiveness is one of the key elements to attract investments that generate quality jobs,” he added. Despite the losses, the services sector continued to account for the bulk of employment, making up 62.1 percent of all employed persons in November. Agriculture followed with a 20-percent share, while industry— including manufacturing—accounted for 17.9 percent. By subsector, wholesale and retail trade remained the largest employer

at 20.5 percent, followed by agriculture and forestry at 17.7 percent, and construction at 9.8 percent.

External pressures

MANUFACTURING, particularly electronics and other information technology products, has been affected by external trade conditions, including tariff policies in major markets, according to former Socioeconomic Planning Secretary Dante Canlas. “This subsector will continue to be hampered unless it gets preferential tariff treatment,” Canlas said in a message to the BusinessMirror. Electronics remained the country’s top export from January to September 2025, PSA data showed, totaling $33.52 billion, up 9.5 percent from $30.60 billion a year earlier. Electronics also accounted for 53.2 percent of the Philippines’ $63.02-billion export receipts during the period. Moreover, industry group Semiconductor and Electronics Industries in the Philippines Foundation Inc. (Seipi) has said the country could approach nearly $50 billion in electronics exports in 2026 if current trends hold. See “Jobs,” A2

PHL kickstarts Asean Chairship with Lazaro meeting in Myanmar By Malou Talosig-Bartolome

BAY WATCH A reclamation project along Manila Bay in Barangay Tanza 1, Navotas City, presses on Wednesday, January 7, 2026, even as heightened scrutiny is ordered over dredging operations in the area. President Ferdinand R. Marcos Jr. has directed the Philippine Coast Guard to board and inspect all dredgers involved in Manila Bay reclamation projects, citing concerns over vessel identity, ownership, and compliance with Philippine laws. The move follows a report by maritime security analyst Ray Powell of SeaLight, which flagged the dredger Kang Ling 539 for allegedly transmitting at least 30 different vessel identities while operating between Manila Bay and a dredging site in Zambales over the past two years. NONOY LACZA

DPWH: Manila bridges safe for Traslacion By Justine Xyrah Garcia

HE Department of Public Works and Highways (DPWH) has certified as safe the major bridges that will be used during the annual Traslacion of Jesus Nazareno, Manila Mayor Francisco Domagoso confirmed on Wednesday. In a press briefing, Domagoso said the certification was issued after the city sought a safety assessment of bridges expected to carry hundreds of thousands of devotees during the annual procession this Friday, January 9. Based on the certification from DPWH-National Capital Region, the Quezon Bridge, Carlos Palanca Bridge, Ayala Bridge, and Arlegui

Bridge 1 were evaluated under the agency’s 2025 Road and Bridge Inventory and Assessment. All four structures were rated to be in “fair” condition, a classification used by DPWH to indicate that bridges remain structurally sound and serviceable. Domagoso said the clearance is a key component of the city’s crowd and safety planning for Nazareno 2026, given the sheer volume of people expected to pass through the route. “This is a very important matter to us as a city government, that we are being assured by the national government that are bridges are safe to cross,” he added, partly in Filipino. The DPWH certification noted

that bridge railings and barricades are properly installed and secured, and that no obstructions were found along bridge decks and pedestrian pathways that could pose safety risks during the procession. While some bridges in Manila are currently undergoing repairs, Domagoso said these works are being handled by DPWH and do not compromise overall safety. “As you all know, some of our bridges are being fixed by the national government through DPWH. So all in all, it’s okay,” he assured. In particular, DPWH said rehabilitation works at Quezon Bridge are ongoing, including the installation of temporary shoring to support the structure, with safety

measures in place throughout the repairs. DPWH also stated that it has “no objection” to the use of the four bridges during the Traslacion, provided that vehicular traffic is completely prohibited along the route for the duration of the procession. In previous years, feast organizers have implemented changes to the traditional Traslacion route from Quirino Grandstand to Quiapo Church due to safety concerns involving bridges and road conditions. Among these was the prohibition on using McArthur Bridge beginning in 2014, after it was found to be structurally unsafe to carry the huge volume of devotees.

HE Philippines kickstarted its Asean chairship for 2026 with Foreign Affairs Secretary Maria Theresa Lazaro meeting Myanmar’s top junta leaders, who for the past five years have resisted Asean’s diplomatic overtures to halt violence and restore peace in the region’s most troubled state. Lazaro, serving as Asean Chair’s Special Envoy on Myanmar, flew to Nay Pyi Taw on Tuesday with her delegation. She paid a courtesy call on Acting President Senior General Min Aung Hlaing at the National Defense and Security Council Office, joined by senior junta officials including Commission Secretary General Ye Win Oo, Foreign Minister U Than Swe, and Social Welfare Minister Dr. Soe Win. Myanmar’s state-run Myanmar News Agency (MNA) described the discussions as “frank and open in promoting cooperation in the economic and trade sectors and on how Myanmar can continue to enhance cooperation within Asean.” Lazaro also held separate meetings with Prime Minister U Nyo Saw and Foreign Minister U Than Swe at the Ministry of Foreign Affairs.

Asean Chairship, regional priorities

IN her X post, Lazaro said: “We exchanged views on geopolitical developments, the political situation in Myanmar particularly the ongoing elections, and the priorities of the Philippine chairship of Asean, as well as the implementation of the Five-Point Consensus.” MNA reported that both sides discussed “Myanmar’s efforts to optimize cooperation within Asean,” with Than Swe expressing support for the Philippines as Asean chair in 2026. Myanmar was originally slated to chair Asean this year, but in 2023 the junta relinquished the role, citing domestic challenges and its lack of preparedness. Malaysia subsequently turned over the chairship to the Philippines, placing Manila at the helm of Asean in 2026.

PHILIPPINE Foreign Affairs Secretary and Asean Chair’s Special Envoy to Myanmar Maria Theresa Lazaro (left) pays a courtesy call on Myanmar’s Acting President and State Security and Peace Commission Chairman Senior General Min Aung Hlaing at the National Defence and Security Council Office in Nay Pyi Taw. MYANMAR NEWS AGENCY

Since the military seized power in February 2021, Asean has barred Min Aung Hlaing and his ministers from attending summits. In Kuala Lumpur last year, Asean leaders said they were “deeply concerned over the escalation of conflicts and the deteriorating humanitarian situation in Myanmar, further compounded by the impact of the 7.7-magnitude earthquake that struck central Myanmar on March 28, 2025.” Asean reiterated its 2021 call for Myanmar to implement the FivePoint Consensus: an immediate ceasefire, dialogue among all parties, humanitarian assistance, and access for ASEAN envoys. Progress has largely stalled, with the junta resisting engagement.

Myanmar’s elections

DURING Lazaro’s courtesy call, junta leaders explained what they described as the “circumstances under which the country was compelled to assume responsibility following the massive voter fraud in the 2020 election and the attempt to seize power through unlawful means,” according to MNA. They also discussed “recent political developments in Myanmar,” including measures to ensure “free and fair elections” such as accurate voter lists. See “Asean,” A10

Companies BusinessMirror

Editor: Jennifer A. Ng

Thursday, January 8, 2026

Ayala, AP Moller proposed JV hurdles scrutiny of PCC T

Auto parts makers want to talk CARS, RACE with govt By Andrea E. San Juan

By VG Cabuag

HE Philippine Competition Commission (PCC) has cleared the proposed joint venture (JV) between Ayala Corp. and EMIF II Holding III B.V. EMIF II is set to acquire approxi‑ mately 40 percent of AC Logistics Holdings Corp., a wholly owned subsidiary of Ayala. EMIF II is an investment vehicle of A.P. Møller Capital P/S, an infra‑ structure fund manager focused on transport, logistics and energy transition. AC Logistics, meanwhile, is the logistics arm of Ayala. Its sole subsidiary, Air 21 Holdings, op‑ erates several companies such as LGC Logistics Inc., Cargohaus Inc., U‑Freight Philippines Inc.

and U‑Ocean Inc. that provide in‑ ternational and domestic freight forwarding, contract logistics and warehousing services. The PCC said it evaluated the rel‑ evant markets that may be affected by the transaction, which include domestic and international freight forwarding, the nationwide market for contract logistics and the provi‑ sion of container liner shipping ser‑ vices to sea freight forwarders. The assessment drew on informa‑ tion submitted by the parties and inputs from industry stakeholders

and relevant regulators in the logis‑ tics sector, it added. The antitrust body said it de‑ termined that the transaction is unlikely to result in a substantial lessening of competition due to the presence of substantial competitive constraints on the parties “Domestic and international freight forwarding markets remain highly fragmented, with customers commonly engaging multiple ser‑ vice providers.” The contract logistics market is similarly competitive, driven by performance‑based tenders and dif‑ ferentiation in service quality and innovation. The market for container liner shipping services is character‑ ized by the presence of numerous global and regional carriers and a strong buyer power, which effec‑ tively limits any ability or incen‑ tive to restrict capacity or degrade service. AC Logistics and EMIF II an‑ nounced last March 2025 that they

entered into an agreement to pur‑ chase the stake in the Ayala unit. Ayala, AC Logistics and EMIF signed a share subscription agree‑ ment for EMIF’s subscription to common and redeemable preferred shares of AC Logistics. “A country of 7,000 islands re‑ quires considerable logistics infra‑ structure, and we would like to help address this need. Working togeth‑ er with partners like A.P. Moller Capital, we believe we can provide real solutions,” said Cezar P. Cons‑ ing, president and CEO of Ayala. “AC Logistics has, in a short pe‑ riod, grown to be an important player in the logistics sector in the Philippines. We are proud and looking forward to work alongside AC Logistics and Ayala Corpora‑ tion to accelerate growth and con‑ tinue to provide customers with market leading supply chain solu‑ tions—in short, doing well while doing good,” said Lars Reno Jako‑ bsen, senior partner of A.P. Moller Capital.

Power spot prices higher in December T

By Lenie Lectura

HE average price of power on the Wholesale Electric‑ ity Spot Market (WESM) went up by 10 percent to P4.38 per kilowatt hour (kWh) in December last year from P3.98 per kWh the previous month because of tighter margins and price spikes in Visayas and Mindanao. The Independent Electricity Market Operator of the Philippines (IEMOP), the operator of WESM, said on Wednesday that the sys‑ temwide average supply increased by 1.2 percent to 20,233 megawatts (MW) during the billing period No‑ vember 26, 2025 to December 25, 2025. Demand dropped to 13,440 MW, a 0.5-percent decrease. The system demand level resulted in a higher

supply margin of 4,798 MW, up from 4,572 MW. However, mar‑ gins from Visayas and Mindanao regions fell by 136 MW and 245 MW, respectively, leading to an in‑ crease in systemwide average price to P4.38 /kWh. Luzon region experienced simi‑ lar conditions of increasing supply and decreasing demand resulting in a lower average price of P2.98/ kWh from P3.52/kWh. Supply stood at 14,422 MW, up by 2.6 per‑ cent, while demand was down by 2.9 percent to 9,324 MW. Meanwhile, in the Visayas, sup‑ ply rose by 106 MW while demand went up by 181 MW, and in Mind‑ anao, supply slid by 245 MW along‑ side a 25-MW hike in demand. These supply and demand condi‑ tions resulted in tighter margins and price spikes. Due to sustained

high prices in both regions, the sec‑ ondary price cap was applied for 213 intervals in Visayas and 216 intervals in Mindanao, leading to market prices of P7.22/kWh and P7.82/kWh, respectively. IEMOP said the lower supply in Mindanao was due to forced outage incidents alongside an increase in demand. In Visayas, meanwhile, it noted a lower supply margin due to higher demand despite additional supply. In terms of the systemwide gen‑ eration mix, renewable energy (RE) contributed 26 percent of to‑ tal generation. Coal increased its share to 56.4 percent from 53.6 percent. Wind generation contin‑ ued its upward trend rising to 2.3 percent from 1.7 percent. Similarly, the shares of solar and geothermal inched up to 4.1 percent from 3.9

percent, and to 8.6 percent from 8.2 percent, respectively. n contrast, hydro power genera‑ tion declined to 8.8 percent from 11.1 percent, while oil-based gen‑ eration raised its share to 0.8 per‑ cent from 0.5 percent. Meanwhile, the share of natural gas fell, with natural gas generation declining to 17 percent from 19 percent. WESM is the venue for trading electricity as a commodity. IEMOP said approximately 25 percent or 2.25 terawatt hours of total customer transactions were purchased from retail market for this billing period. Spot market volume rose, accounting for 13.2 percent of total traded quantity from 12.3 percent. Correspond‑ ingly, the total trading amount increased from P13.13 billion to P14.19 billion.

HE local car parts maker in‑ dustry is calling for an urgent dialogue with policymak‑ ers following President Ferdinand R. Marcos Jr.’s veto of the proposed budget for car incentive programs, warning that the president’s move places the struggling auto sector at greater risk. “The Philippine auto parts indus‑ try needs CARS [Comprehensive Automotive Resurgence Strategy] CARS and RACE [Revitalizing the Automotive Industry for Competi‑ tiveness Enhancement] to survive,” Ferdinand Raquelsantos, president of the Philippine Parts Makers Asso‑ ciation (PPMA), said in a statement on Wednesday. “Without sustained and predict‑ able government support, local manufacturers will continue to lose ground, investments will slow, and skilled jobs will disappear.” For the local parts makers indus‑ try, the CARS and RACE programs are not merely support mechanisms but “critical lifelines.” “The CARS and RACE programs were designed to rebuild vehicle as‑ sembly volumes, strengthen local parts manufacturing, and allow the Philippines to regain competitive‑ ness within the Asean automotive landscape,” PPMA said. While automotive manufacturing consistently ranks among the top manufacturing industries in terms of output, employment, and exports across Southeast Asia, the group not‑ ed that the Philippines has “steadily fallen behind” its Asean neighbors. “Local vehicle production re‑ mains limited, and many parts makers now depend on exports of non-automotive industries to stay afloat,” PPMA said, adding that this gap continues to widen as other Asean countries are fast-tracking investments in new technologies and supply chains. “The reality is we are already lag‑ ging behind Asean. Automotive man‑ ufacturing has always been a corner‑ stone industry in Southeast Asia. If we allow our ecosystem to weaken further, it will be extremely difficult to recover,” Raquelsantos said. As for the Asean car players, PPMA said Thailand, Indonesia, and Viet‑ nam have treated automotive manu‑ facturing as a “strategic sector.” In fact, these countries have sup‑ ported the auto industry through long term industrial policies and pro‑

PHOTO from www.toyotacalamba.com.ph

duction scale, added PPMA. “Thailand alone produces more than two million vehicles annually, while Indonesia and Vietnam con‑ tinue to expand both conventional and electric vehicle manufacturing.” Citing industry data, PPMA said the Philippine automotive manufac‑ turing reached its peak during the 1990s, following the implementation of the Car Development Program. “That period saw stronger assem‑ bly volumes, higher local content, and a more robust domestic supplier base.” As for the succeeding administra‑ tions, PPMA said while initiatives were put in place in several attempts to revive the sector, the industry “has never fully returned to that level of scale and stability.” “We were almost there. The facto‑ ries are here. The suppliers are here. The workforce and technical knowhow are here. What we need is con‑ tinuity and confidence from govern‑ ment,” Raquelsantos said. PPMA noted that automotive man‑ ufacturing has a “powerful multiplier effect” as it supports industries such as steel, plastics, electronics, rubber, logistics, and tooling. “Each locally assembled vehicle creates demand for thousands of parts, many of which can be pro‑ duced domestically if volumes are sustained.” In response to the veto, PPMA is calling for a constructive dialogue with government leaders, particu‑ larly senators and members of Con‑ gress, to better explain how auto‑ motive industry programs work and why they matter. “We want to engage, not confront,” Raquelsantos said. “The auto indus‑ try is ready to sit down with our legis‑ lators to educate them on how CARS and RACE drive jobs, investments, and long-term industrial resilience. This is about building a competitive manufacturing base for the country.” PPMA stressed that time is criti‑ cal. “Without decisive action, the Philippines risks being permanently left behind in one of the region’s most strategic and value generating manufacturing industries.”

NGCP welcomes new capacity from Terra Solar Project PLDT wins at the 2025 Fast Mode

GCP welcomes Terra So‑ lar Power Project as a significant addition to the country’s growing renewable energy capacity, supporting na‑ tional efforts toward a cleaner energy mix. Terra Solar has a to‑ tal capacity of 2,500 megawatts (MW), supported by a 1,125-MW battery energy storage system (BESS) capable of sustaining out‑ put for around 4 hours. NGCP, however, cautioned that heavy reliance on intermittent power sources such as solar gener‑ ation, may pose operational chal‑ lenges to grid stability, potential‑ ly causing fluctuations in system frequency and voltage that if not properly managed, could lead to under-frequency load shedding or rotating power interruptions in some areas. “Renewable energy initiatives such as the Terra Solar Power Project are welcome. Any new power source introduced into the system will help keep sup‑ ply stable. However, not all re‑ newable energy technologies are equal. Some technologies (such as wind or solar) are, by nature, variable or supply intermittently, and therefore need to be handled more carefully. There are operational consid‑ erations that must be carefully managed on both the side of the transmission, and more impor‑ tantly, on the side of the generat‑

A man bicycles past the National Grid Corporation of the Philippines substation in Las Piñas City. NONIE REYES

ing plant. Doing so will help grid stability and mitigate any fluctua‑ tions inherent in variable renew‑ able energy sources [VREs]. In addition, all required facilities on the plant side, as determined in the system impact study, must be fully complied with,” NGCP said. This concern was underscored by a recent voltage fluctuation incident in parts of North Luzon, which occurred due to the un‑ stable output of renewable energy sources in the area. The incident

highlighted how sudden variabil‑ ity in RE generation can affect voltage levels and system stabil‑ ity, prompting NGCP to take miti‑ gating actions to prevent further disturbances. “Operational experience at the San Marcelino Solar Farm in Zambales indicates that short term solar variability of up to 300MW can occur due to brief cloud cover. While such vari‑ ability can be effectively man‑ aged with fast-acting resources,

conventional generation (such as coal power plants) has limited ca‑ pability to respond quickly due to longer ramping times. Battery en‑ ergy storage systems are among these ‘fast-acting resources,’ and therefore play a critical role in providing rapid support to main‑ tain frequency stability as solar penetration increases,” the com‑ pany said. The Terra Solar Power Proj‑ ect will be supplying 850MW to Meralco through a power supply agreement, mainly during the daytime, while the remaining 1,650 MW will be injected into the grid via the Wholesale Elec‑ tricity Spot Market (WESM). As a variable renewable energy source, Terra Solar operates on a mustdispatch basis under Republic Act 9513. The law mandates that all variable renewable energy sourc‑ es, including solar farms, must be given priority in scheduling plants for dispatch into the trans‑ mission grid. NGCP reiterated its call on the Department of Energy (DOE) for more incisive and progressive policies on the entry of VREs, fo‑ cusing on grid stability as the pri‑ mary consideration. The company stressed that the entry of bulk VRE should be complemented by dependable baseload and fastramping energy resources to en‑ sure a stable and reliable power supply for the country.

Awards, only PHL telco recognized

LDT Inc. has been named a Network Transformation Icon for Growth at the 2025 Fast Mode Awards, standing out as the only Philippine telco recognized among this year’s global winners. The Fast Mode Awards honor in‑ dustry leaders reshaping connectiv‑ ity and advancing the capabilities of modern telecom networks. PLDT earned this distinction for its multiyear OSS Transformation Program, a major modernization effort that strengthens the digital backbone supporting customer and network operations across PLDT and its wire‑ less unit, Smart Communications Inc. (Smart). Launched in August 2024 and running until 2027, the program is upgrading systems that power es‑ sential services such as customer support, service provisioning, and network resource management. In partnership with Amdocs, Mi‑ crosoft and Amazon Web Services (AWS), PLDT is shifting toward a cloud-based and AI-enabled opera‑ tions environment that enhances efficiency, accuracy, and overall service delivery. As the only Philippine organiza‑ tion recognized at this year’s awards, PLDT carries this achievement with pride. “This award affirms our ongo‑ ing efforts to build a smarter, more responsive, and more secure network for every Filipino,” said Gilbert Gaw,

First Vice President and Head of the Information Technology and Trans‑ formation Office. “The OSS Transformation is more than a technology program. It is an investment in the country’s digital future and a reflection of the PLDT Group’s commitment to deliver meaningful connections that uplift lives.” Just one year into implementa‑ tion, the program is already show‑ ing meaningful impact. It has im‑ proved how customer requests are handled across PLDT’s key busi‑ ness units, resulting in more effi‑ cient workflows and better custom‑ er experience. Another milestone, the migration of network records into a new centralized system, has strengthened data accuracy and paved the way for more automated and seamless processes. Beyond these early gains, the OSS Transformation is helping PLDT build a smarter and more agile net‑ work for the future. With new tools, automated workflows, and data-driv‑ en processes, the organization is bet‑ ter equipped to respond and roll out new technologies and services with greater agility. PLDT’s win at the 2025 Fast Mode Awards marks an important mile‑ stone in its digital transformation journey and further strengthens its role in shaping a more connected and future-ready Philippines.

Companies BusinessMirror

B2 Thursday, January 8, 2026

Meralco: 15 gencos keen on auction for supply contract

By Lenie Lectura

TOTAL of 15 power generation companies, with a combined offered capacity of 725 megawatts (MW), have expressed interest to supply the 200-MW baseload power supply requirements of the Manila Electric Co. (Meralco). Meralco said on Wednesday that these 15 interested firms were told to join and participate in the prebid conference for the upcoming 200-MW competitive selection process (CSP) scheduled on January 15.

“The strong interest we received reflects confidence in Meralco’s procurement process. We look forward to receiving competitive and compliant bids that will support our efforts to deliver reliable sus-

tainable and least cost electricity to our customers,” said Meralco Bids and Awards Committee for Power Supply Agreements (BACPSA) Chairman Lawrence Fernandez. The CSP is meant to secure longterm power PSAs, aiming to find the lowest-cost power sources to meet its customers’ needs. It is designed to ensure transparency and fairness in the selection of power suppliers. “As a highly regulated entity, Meralco remains fully committed to upholding the highest standards of transparency, fairness, and regulatory compliance throughout the CSP,” added Fernandez. The four-year PSA resulting from this CSP, being conducted in accordance with Meralco’s Department of Energy (DOE)-approved Power Supply Procurement Plan (PSPP), will cover Meralco’s 200-MW baseload supply requirement for Renewable Portfolio Standards (RPS) beginning January 26, subject to the approval of the Energy Regulatory Commission (ERC). The RPS mandates electricity suppliers to source a portion of their requirements from RE. This is in line with the government’s goal to increase the share of renewable energy in the country’s energy mix to 35 percent by 2030 and 50 percent by 2040. Currently, the RPS

PSE STOCK QUOTATIONS FINANCIALS

January 7, 2026

NAVPS Performance (as of 01/07/2026)

Mutual Funds Stock Funds Primarily invested in Peso securities (shares) ALFM Growth Fund, Inc. -a ATRAM Alpha Opportunity Fund, Inc. -a ATRAM Philippine Equity Opportunity Fund, Inc. -a Climbs Share Capital Equity Investment Fund Corp. -a First Metro Consumer Fund, Inc. -a First Metro Save and Learn Equity Fund, Inc. -a First Metro Save and Learn Philippine Index Fund, Inc. -a MBG Equity Investment Fund, Inc. -a PAMI Equity Index Fund, Inc. -a Philam Strategic Growth Fund, Inc. -a Philequity Dividend Yield Fund, Inc. -a Philequity Fund, Inc. -a Philequity MSCI Philippine Index Fund, Inc. -a Philequity PSE Index Fund, Inc. -a Philippine Stock Index Fund Corp. -a Soldivo Strategic Growth Fund, Inc. -a Sun Life Prosperity Philippine Equity Fund, Inc. -a Sun Life Prosperity Philippine Stock Index Fund, Inc. -a United Fund, Inc. -a Primarily invested in Peso securities (units) COL Equity Index Unitized Mutual Fund, Inc. -a COL Strategic Growth Equity Unitized Mutual Fund, Inc. -a Philequity Alpha One Fund, Inc. -a Philippine Stock Index Fund Corp. -a Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b Sun Life Prosperity World Voyager Fund, Inc. -a Balanced Funds Primarily invested in Peso securities (shares) ATRAM Philippine Balanced Fund, Inc. -a ATRAM Unicapital Diversified Growth Fund, Inc. -a First Metro Save and Learn Balanced Fund, Inc. -a First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a NCM Mutual Fund of the Phils., Inc. -a,1 PAMI Horizon Fund, Inc. -a Philam Fund, Inc. -a Solidaritas Fund, Inc. -a Sun Life of Canada Prosperity Balanced Fund, Inc. -a Sun Life Prosperity Dynamic Fund, Inc. -a Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a Sun Life Prosperity Achiever Fund 2038, Inc. -a Sun Life Prosperity Achiever Fund 2048, Inc. -a Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a PAMI Asia Balanced Fund, Inc. -b Sun Life Prosperity Dollar Advantage Fund, Inc. -a Sun Life Prosperity Dollar Wellspring Fund, Inc. -a Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a ATRAM Corporate Bond Fund, Inc. -a Cocolife Fixed Income Fund, Inc. -a Ekklesia Mutual Fund, Inc. -a First Metro Save and Learn Fixed Income Fund, Inc. -a Philam Bond Fund, Inc. -a Philam Managed Income Fund, Inc. -a Philequity Peso Bond Fund, Inc. -a Soldivo Bond Fund, Inc. -a Sun Life of Canada Prosperity Bond Fund, Inc. -a Sun Life Prosperity GS Fund, Inc. -a Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a ALFM Euro Bond Fund, Inc. -a ATRAM Total Return Dollar Bond Fund, Inc. -b First Metro Save and Learn Dollar Bond Fund, Inc. -a PAMI Global Bond Fund, Inc. -b Philam Dollar Bond Fund, Inc. -a Philequity Dollar Income Fund, Inc. -a Sun Life Prosperity Dollar Abundance Fund, Inc. -a Money Market Funds Primarily invested in Peso securities (shares) AIB Money Market Mutual Fund, Inc. -a ALFM Money Market Fund, Inc. -a First Metro Save and Learn Money Market Fund, Inc. -a Sun Life Prosperity Peso Starter Fund, Inc. -a Primarily invested in Peso securities (units) ALFM Money Market Fund, Inc. -a Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund, Inc. -a Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a Sun Life Prosperity World Income Fund, Inc. -a Primarily invested in foreign currency securities (Units) ALFM Global Multi-Asset Income Fund, Inc. -a

NAVPS/NAVPU

1 Yr. Return (%)

3 Yr. Return (%)

5 Yr. Return (%)

10 Yr. Return (%) YTD Return (%)

222.7 2.2235 2.9635 0.773 0.5787 4.5441 0.6694 89.82 43.2001 467.63 1.5996 35.9449 0.9309 4.6605 766.97 0.7302 3.337 0.8602 3.4134

-0.23% 18.78% -2.22% 4.23% -8.81% -3.65% -4.81% 25.82% -2.63% -0.61% 13.18% 0.96% 2.73% -0.86% -1.82% 0.61% -6.06% -2.79% 6.25%

1.51% 16.75% -0.19% 3.43% -5.3% -1.65% -2.47% 5.82% -0.98% 0.99% 9.85% 1.68% 1.99% 0.23% -0.18% 1.9% -1.27% -0.65% 2.46%

-0.13% 11.21% -0.89% -0.39% -4.83% -1.47% -2.22% -2.15% -1.35% -0.62% 6.72% 0.94% 0.63% -0.29% -0.62% 0.51% -1.4% -1.03% 0.78%

-0.83% 6.93% -1.87% n.a n.a -1.3% n.a n.a -0.61% -0.64% 3.32% 0.81% n.a 0.3% 0.09% -1.43% -1.16% -0.17% 1.02%

3.69% 3.26% 3.58% 2.59% 4.35% 3.68% 4.06% 1.33% 4.21% 3.67% 2.93% 4.11% 4.12% 4.03% 4.13% 3.62% 3.72% 4.17% 4.86%

1.078 1.0794 0.9882 925.17

-1.79% 1.18% -5.72% -2.5%

-0.27% n.a -3.07% -0.4%

n.a n.a -1.95% n.a

n.a n.a n.a n.a

4.12% 3.28% 4.22% 4.14%

104.4123

-2.22%

0.09%

-0.33%

0.61%

4.18%

$1.0666 $2.2378

28.09% 15.83%

6.42% 15.96%

-3.44% 5.91%

2.15% n.a

5.42% 0.88%

2.1958 1.6671 2.5242 0.2353 2.0446 3.8703 16.3411 2.147 3.5016 0.9268

1.91% 6.08% -0.56% 6.47% 2.03% 3.89% 0.41% 0.96% -0.73% -0.96%

1.19% 4.04% -0.33% 6.26% 1.2% 3.55% 2.19% 2.14% 1.11% 1.31%

-0.6% 0.02% -0.68% 3.58% 0.85% 0.59% -0.56% 0.65% -0.27% 1.1%

0.41% -0.26% -0.51% n.a 1.45% 0.92% 0.31% 0.81% -0.14% 0.12%

2.34% 1.63% 2.46% 2.08% 2.07% 1.99% 1.93% 1.95% 1.76% 1.58%

0.9871 0.8672 0.84

2.06% -0.33% -1.36%

2.44% 0.54% -0.04%

-0.64% -1.58% -1.85%

n.a n.a n.a

0.83% 2.85% 3.42%

$0.03422 $1.2394 $5.3569 $1.1842

6.94% 27.98% 12.77% 8.97%

2.03% 10.59% 11.41% 6.56%

-2.7% 0.92% 3.44% 0.26%

-0.33% 3.65% 5.75% n.a

-0.26% 2.97% 0.59% 0.21%

420.35 1.9594 3.5853 2.4574 2.5726 4.6236 1.5229 4.3227 1.1231 3.5604 1.8903

4.19% 2.74% 3.24% 3.76% 3.17% 3.95% 4.88% 3.84% 4.24% 3.93% 3.81%

3.63% 1.4% 3.64% 4.17% 2.5% 3.51% 4.85% 3.82% 3.3% 4.18% 3.7%

2.52% 0.61% 2.2% 1.36% 0.96% -0.05% 2.88% 1.57% 1.51% 2.12% 1.51%

2.67% 0.35% 3.5% 1.87% 1.54% 1.49% 2.8% 2.26% 2.07% 2.8% 2.18%

0.15% 0.07% 0.11% 0.14% 0.12% 0.35% 0.11% 0.16% 0.21% 0.25% 0.28%

$529.25 Є223.65 $1.0748 $0.0264 $1.0596 $2.4773 $0.0644146 $2.919

3.71% 2.16% 3.77% 6.02% 22.87% 7.55% 3.6% 7.31%

3.29% 2.18% 2.08% 3.66% 7.18% 4.54% 2.44% 2.42%

1.8% 0.38% -3.52% -0.15% -0.66% -0.47% 0.66% -1.98%

2.35% 0.81% -0.19% 0.83% 0.11% 1.56% 1.5% 0.23%

0.09% -0.01% -0.03% -0.38% 0.03% -0.06% 0.01% -0.34%

1.1669 148.97 1.1985 1.4823

3.06% 4.45% 3.88% 3.9%

n.a 3.78% 3.73% 3.45%

n.a 2.78% 2.72% 2.71%

n.a 2.69% n.a 2.66%

0.09% 0.18% 0.12% 0.09%

114.03

4.32%

4.29%

n.a

0.15%

$1.177

3.06%

3.22%

2.26%

n.a

0.08%

ASIA UNITED BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK CITYSTATE BANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL DOMINION HLDG FIRST ABACUS FERRONOUX HLDG FILIPINO FUND LMG CORP MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

40.3 143 9.2 119.5 63 15.52 11.94 69.6 7.71 16.46 57.75 55.2 101.3 25.8 68.85 26.7 0.6 1.38 1.38 0.56 4.55 7.5 0.25 1,950 0.78 203 3,580 0.93

40.65 143.1 9.24 119.6 63.1 15.94 12 70 7.88 16.52 57.85 56 119 26 68.9 26.8 0.65 1.4 1.44 0.66 4.7 7.98 0.27 2,040 0.79 209 0.97

40.9 143.6 9.2 121 61.2 15.52 11.9 70.5 7.73 16.76 57.7 57.4 119 26 67.45 26.85 0.62 1.4 1.38 0.66 4.58 7.5 0.25 1,922 0.77 219.8 3,570 0.97

40.9 144.6 9.24 121.2 63.15 16 12 71.1 7.73 16.76 57.85 57.4 119 26 68.85 26.9 0.65 1.4 1.38 0.66 4.9 7.5 0.25 2,020 0.8 219.8 3,580 0.97

3.9% 23.84% 5.77%

2.59% 20.83% n.a

n.a 14.27% n.a

n.a n.a n.a

1.13% 1.66% 0.96%

$0.8182

2.62%

0.85%

-3.74%

n.a

0.29%

40.7 143 9.24 119.5 63 15.52 12 69.6 7.73 16.52 57.85 56 119 26 68.85 26.8 0.65 1.4 1.38 0.66 4.9 7.5 0.25 2,020 0.78 203 3,580 0.97

6,100 249,010 4,984,390 709,845,460 9,100 83,982 2,658,960 316,032,314 771,410 48,492,806.5 ( 9,100 141,694 433,800 5,165,314 2,756,620 192,496,999.5 ( 100 773 61,200 1,014,506 304,270 17,544,615 1,940 109,071.5 90 10,710 300 7,800 226,660 15,466,703.5 85,300 2,274,705 42,000 27,260 2,000 2,800 1,000 1,380 1,000 660 176,000 802,660 600 4,500 170,000 42,500 75 145,010 1,033,000 804,570 12,830 2,668,256 10 35,750 30,000 29,100

226,227,453 (48,032,175) 13,144,510.5) 2,430,376 32,557,956.5) 3,016,780 (78,187.5) 2,091,558.5 (2,071,000) (640) (4,900) 115,200 (1,023,548) -

HOLDING & FRIMS

ABACORE CAPITAL 0.31 0.315 0.32 0.32 0.31 0.315 4,110,000 1,291,900 (44,800) ASIABEST GROUP 17.7 18.2 18.24 18.98 17.62 18.28 32,200 580,440 3,558 AYALA CORP 486.2 487.6 480.6 488.4 476.4 487.6 223,510 108,145,946 15,826,380 ABOITIZ EQUITY 30 30.1 29.8 30.2 29.15 30 3,341,100 99,841,060 (6,145,670) ALLIANCE GLOBAL 7.82 7.83 7.96 7.96 7.77 7.82 3,018,900 23,702,552 (1,626,207) ANSCOR 14.1 14.46 14.46 14.46 14.1 14.1 47,900 690,186 ANGLO PHIL HLDG 0.8 0.84 0.83 0.83 0.8 0.8 306,000 247,800 (8,800) COSCO CAPITAL 7.43 7.44 7.36 7.45 7.31 7.43 6,004,000 44,177,067 695,709 DMCI HLDG 10.64 10.8 10.72 10.84 10.62 10.64 2,725,700 29,257,552 3,775,082 FILINVEST DEV 4.48 4.65 4.65 4.79 4.47 4.56 52,000 239,580 (91,199.9998) FJ PRINCE A 2.22 2.58 2.32 2.32 2.21 2.21 35,000 80,100 FORUM PACIFIC 0.24 0.275 0.24 0.24 0.24 0.24 20,000 4,800 GT CAPITAL 589.5 590 586 592 571 590 177,230 103,642,380 (18,069,270) HOUSE OF INV 4.5 4.65 4.88 4.88 4.6 4.65 263,000 1,222,530 JG SUMMIT 24.05 24.15 24.4 24.45 23.95 24.05 2,811,000 67,893,640 452,610 LODESTAR 0.32 0.33 0.32 0.345 0.32 0.33 370,000 119,200 (6,700) LOPEZ HLDG 3.56 3.9 3.81 3.81 3.56 3.56 5,695,000 21,177,660 (10,223,150) LT GROUP 15.06 15.18 15.26 15.36 15.06 15.06 3,070,700 46,743,474 10,164,540 MABUHAY HLDG 0.117 0.118 0.117 0.117 0.117 0.117 10,000 1,170 (1,170) PACIFICA HLDG 1 1.1 1 1 1 1 3,000 3,000 PRIME MEDIA 1.15 1.2 1.17 1.2 1.14 1.2 32,000 36,790 SOLID GROUP 1.31 1.32 1.34 1.34 1.28 1.3 913,000 1,177,280 SM INVESTMENTS 731 733 738 738 716 731 361,790 263,884,950 (20,490,450) SAN MIGUEL CORP 84 85 85.95 86 84 84 255,040 21,699,979 (3,932,812) TOP FRONTIER 61 61.15 61.15 61.4 57.05 61.15 1,410 83,214 (0) ZEUS HLDG 0.067 0.072 0.067 0.067 0.067 0.067 200,000 13,400 PROPERTY ARTHALAND CORP 0.415 0.42 0.415 0.415 0.415 0.415 20,000 8,300 AYALA LAND 22.75 22.8 22.5 22.8 22.3 22.75 6,619,300 149,831,695 21,195,650 AYALA LAND LOG 1.33 1.34 1.34 1.34 1.33 1.33 217,000 290,560 (33,370) ALTUS PROP 8.34 8.62 8.4 8.5 8.4 8.4 28,100 236,140 11,760 ARANETA PROP 0.4 0.41 0.405 0.405 0.4 0.4 250,000 100,150 AREIT RT 43.8 44.2 44.05 44.45 43.8 43.8 744,800 32,885,065 1,028,345 A BROWN 1 1.01 0.99 1 0.98 1 2,400,000 2,384,680 (20,000) CITYLAND DEVT 0.58 0.59 0.6 0.6 0.58 0.58 28,000 16,280 CROWN EQUITIES 0.072 0.073 0.072 0.072 0.072 0.072 80,000 5,760 CEB LANDMASTERS 2.51 2.52 2.43 2.51 2.42 2.51 307,000 752,650 (29,780) CENTURY PROP 0.68 0.69 0.69 0.69 0.68 0.69 383,000 264,120 (6,800) CITICORE RT 3.54 3.55 3.55 3.56 3.54 3.55 2,170,000 7,701,250 692,200 DOUBLEDRAGON 9.19 9.2 9.22 9.29 9.18 9.2 122,800 1,130,257 ( 385,062.0001) DDMP RT 1.02 1.03 1.02 1.04 1.02 1.03 2,987,000 3,074,820 254,410 DM WENCESLAO 5 5.07 5 5.1 5 5.1 19,200 96,020 (57,490.0001) EMPIRE EAST 0.107 0.108 0.106 0.108 0.106 0.108 1,970,000 210,220 (1,060) FILINVEST RT 3.06 3.07 3.02 3.08 3.02 3.06 896,000 2,735,020 (1,486,310) FILINVEST LAND 0.79 0.8 0.79 0.79 0.78 0.79 659,000 517,640 GLOBAL ESTATE 0.7 0.73 0.7 0.7 0.7 0.7 88,000 61,600 GOLDEN MV 1,024 1,068 1,020 1,090 1,020 1,070 160 171,080 PHIL INFRADEV 0.34 0.36 0.335 0.36 0.33 0.36 50,000 16,850 JACKSTONES 1.81 1.9 1.88 1.88 1.88 1.88 1,000 1,880 KEPPEL PROP 2.26 2.86 2.31 2.31 2.25 2.25 66,000 149,270 2,260 CITY AND LAND 0.51 0.53 0.53 0.53 0.52 0.52 209,000 108,770 11,990 MEGAWORLD 2.14 2.15 2.14 2.16 2.12 2.15 16,424,000 35,249,410 12,853,450 MRC ALLIED 0.92 0.94 0.95 0.95 0.92 0.94 32,837,000 30,587,130 (219,640) MREIT RT 13.98 14 14.08 14.12 13.98 14 1,508,200 21,119,264 59,542 PRMIERE HORIZON 0.226 0.227 0.236 0.236 0.225 0.226 5,750,000 1,317,890 (221,100) PHIL RACING 5.81 7.2 6.6 6.6 6.6 6.6 200 1,320 PREMIERE RT 1.12 1.13 1.05 1.18 1.05 1.13 1,113,000 1,230,070 324,540 PRIMEX CORP 1.23 1.3 1.3 1.3 1.3 1.3 1,000 1,300 RL COMM RT 7.92 7.95 8.01 8.03 7.9 7.92 10,729,300 85,209,315 3,787,599 ROBINSONS LAND 17.46 17.5 16.58 17.58 16.58 17.5 8,141,300 139,254,562107 ,114,403.9996 0.101 0.11 0.101 0.101 0.101 0.101 40,000 4,040 PHIL REALTY ROCKWELL 1.9 1.92 1.88 1.95 1.86 1.9 443,000 840,260 409,700 3.58 3.6 3.62 3.64 3.57 3.6 210,000 760,380 (39,910) SHANG PROP 2.2 2.55 2.6 2.6 2.6 2.6 1,000 2,600 STA LUCIA LAND SM PRIME HLDG 23.1 23.25 23.4 23.4 23.1 23.1 8,200,100 190,230,220 (91,303,275) 1.18 1.2 1.25 1.25 1.19 1.2 9,000 10,830 VISTAMALLS SUNTRUST RESORT 0.68 0.7 0.72 0.72 0.68 0.68 469,000 322,330 6,340 107.1 132.9 133.7 133.7 133 133 220 29,369 UNIHOLDINGS VISTA LAND 1.29 1.3 1.29 1.3 1.25 1.29 2,436,000 3,121,010 (624,250) 1.46 1.49 1.44 1.48 1.44 1.48 3,776,000 5,528,400 2,243,160 VISTAREIT RT 0.26 0.3 0.26 0.26 0.26 0.26 10,000 2,600 WELLEX INDUS SERVICES ABS CBN 4.39 4.48 4.61 4.72 4.37 4.39 571,000 2,570,070 GMA NETWORK 5.65 5.66 5.6 5.65 5.59 5.65 374,500 2,103,951 MLA BRDCASTING 6.8 6.9 7 7 6.8 6.8 2,100 14,430 DITO CME HLDG 0.76 0.77 0.75 0.77 0.74 0.77 13,473,000 10,264,160 1,631,450 GLOBE TELECOM 1,610 1,622 1,611 1,628 1,605 1,610 34,495 55,615,305 (20,776,485) PLDT 1,263 1,280 1,267 1,287 1,260 1,263 47,845 60,906,660 7,494,915 APOLLO GLOBAL 0.0056 0.0057 0.0057 0.0057 0.0054 0.0056 231,000,000 1,290,200 CONVERGE 15.14 15.16 14.96 15.2 14.74 15.14 7,513,100 113,163,508 (55,846,844) DFNN INC 0.79 0.82 0.83 0.88 0.8 0.82 1,118,000 923,190 (757,540) ISLAND INFO 0.125 0.132 0.133 0.133 0.125 0.132 4,490,000 584,630 (261,310) NOW CORP 0.7 0.71 0.71 0.71 0.69 0.71 528,000 371,060 TRANSPACIFIC BR 0.136 0.137 0.136 0.137 0.136 0.137 1,890,000 257,060 ASIAN TERMINALS 34.6 34.65 34.55 34.65 34.55 34.65 124,200 4,298,405(2, 422,129.9998) CHELSEA 0.93 0.96 0.93 0.96 0.93 0.96 149,000 142,380 CEBU AIR 33.2 33.6 33.2 33.6 32.75 33.6 190,300 6,334,950 2,705,990 INTL CONTAINER 590 603 594 609.5 586.5 590 1,971,550 1182608375 30,159,735 LBC EXPRESS 8.1 8.79 8.1 8.1 8.1 8.1 400 3,240 MACROASIA 4.54 4.55 4.5 4.57 4.5 4.55 396,000 1,800,370 1,555,660 PAL HLDG 3.78 3.85 3.8 3.8 3.77 3.78 10,000 37,860 (26,460) HARBOR STAR 0.57 0.58 0.6 0.6 0.58 0.58 84,000 49,260 (1,200) BOULEVARD HLDG 0.039 0.04 0.037 0.04 0.037 0.04 10,200,000 398,800 DISCOVERY WORLD 1.01 1.03 1.04 1.07 1 1.04 190,000 192,640 16,570 PH RESORTS GRP 0.14 0.142 0.139 0.142 0.138 0.142 680,000 94,600 36,140 CENTRO ESCOLAR 16 16.2 16.46 16.46 15.92 16 8,000 128,390 STI HLDG 1.4 1.41 1.39 1.4 1.37 1.4 28,999,000 40,534,090 27 ,157,690.0002 BELLE CORP 1.33 1.35 1.33 1.35 1.33 1.33 19,000 25,290 BLOOMBERRY 2.77 2.78 2.78 2.83 2.76 2.78 25,090,000 69,809,980 11,073,550 PACIFIC ONLINE 1.7 1.73 1.71 1.73 1.69 1.73 184,000 312,400 (49,300) DIGIPLUS 16.74 16.8 17.18 17.18 16.52 16.74 7,825,100 131,840,236 20,091,626 PHILWEB 6.39 6.41 6.46 6.53 6.29 6.39 2,139,200 13,677,414 (213,751) ALLDAY 0.034 0.035 0.035 0.036 0.035 0.035 43,800,000 1,533,200 (1,169,000) ALLHOME 0.26 0.27 0.27 0.27 0.26 0.27 620,000 166,550 METRO RETAIL 1.13 1.16 1.18 1.18 1.12 1.16 30,000 34,240 2,320 40 40.25 39.4 40.6 39.05 40 1,227,000 48,949,210 10,797,290 PUREGOLD 34.6 34.65 34.45 34.9 33.75 34.6 551,000 18,968,130(3, 187,105.0001) ROBINSONS RTL 37.4 37.85 37 38 37 37.4 40,700 1,536,965 (1,306,610) PHIL SEVEN CORP 2.71 2.73 2.6 2.71 2.6 2.71 11,546,000 30,608,000 (13,250) SSI GROUP 0.69 0.71 0.71 0.71 0.7 0.71 184,000 128,980 UPSON INTL CORP WILCON DEPOT 6.9 6.95 6.98 7 6.86 6.9 4,965,200 34,298,561 (16,513,467) 1.58 1.6 1.58 1.6 1.58 1.6 8,000 12,780 IPM HLDG MEDILINES 0.245 0.26 0.26 0.265 0.245 0.26 100,000 25,450 (2,600) 3.6 3.65 3.53 3.69 3.5 3.65 25,000 89,840 (160) SBS PHIL CORP MINING & OIL ATOK 2.17 2.18 2.17 2.17 2.16 2.16 2,000 4,330 APEX MINING 12.7 12.76 12.9 12.9 12.54 12.76 5,208,200 66,083,500 4,921,566 ATLAS MINING 7.09 7.15 7.11 7.15 6.85 7.15 1,728,500 12,260,920 885,113 BENGUET A 5.11 5.16 5.18 5.18 5.05 5.11 422,200 2,134,017 BENGUET B 4.84 5.2 4.83 4.83 4.83 4.83 9,000 43,470 DIZON MINES 5.05 5.18 5.04 5.23 5.04 5.18 3,500 18,034 EC VULCAN 0.305 0.31 0.3 0.305 0.3 0.305 550,000 167,650 (3,000) FERRONICKEL 1.82 1.97 1.75 1.97 1.74 1.97 5,635,000 10,691,220 7,022,090 GEOGRACE 0.089 0.095 0.096 0.096 0.086 0.094 190,000 17,090 LEPANTO A 0.19 0.191 0.195 0.195 0.19 0.19 16,000,000 3,073,830 LEPANTO B 0.195 0.207 0.195 0.195 0.195 0.195 1,010,000 196,950 MANILA MINING A 0.0072 0.0074 0.0072 0.0074 0.0072 0.0074 10,000,000 73,600 MANILA MINING B 0.0071 0.0074 0.0071 0.0071 0.0071 0.0071 1,000,000 7,100 MARCVENTURES 0.81 0.82 0.82 0.84 0.78 0.81 8,477,000 6,935,380 (605,080) NIHAO 0.335 0.395 0.315 0.395 0.315 0.395 360,000 125,300 (32,050) NICKEL ASIA 4.4 4.54 4.5 4.54 4.35 4.54 15,887,000 71,251,000 16,219,860 OCEANAGOLD 34.1 34.5 35.5 35.95 34.1 34.1 1,836,000 64,507,180(11 ,251,760.0001) ORNTL PENINSULA 0.415 0.435 0.41 0.435 0.4 0.435 1,180,000 488,300 PX MINING 10.14 10.3 10.12 10.3 10 10.3 3,620,700 36,717,730 20 ,095,643.9999 UNITED PARAGON 0.005 0.0052 0.0053 0.0053 0.0052 0.0052 11,000,000 57,700 ENEX ENERGY 3.34 3.44 3.43 3.44 3.43 3.44 3,000 10,300 (3,430) ORNTL PETROL A 0.011 0.012 0.011 0.011 0.011 0.011 10,600,000 116,600 PHILODRILL 0.0088 0.0091 0.0088 0.0088 0.0087 0.0087 3,000,000 26,200 PXP ENERGY 2.56 2.58 2.55 2.66 2.55 2.58 1,005,000 2,598,400 197,600 PREFFERED ACEN PREF A 1,010 1,018 1,015 1,015 1,015 1,015 10 10,150 ACEN PREF B 1,078 1,088 1,080 1,090 1,072 1,072 180 193,800 AC PREF AR 2,520 2,550 2,520 2,520 2,520 2,520 20 50,400 BRN PREF A 97.2 100 99.4 99.5 99.4 99.5 1,970 196,013 BRN PREF B 100.8 103.5 103.5 103.5 101 101 110 11,135 5,050 BRN PREF C 105.6 107 105.2 108 105.2 107 6,060 644,289 CEB PREF 34.6 35.6 34.6 35.6 34.6 35.6 900 31,840 CLI PREF A1 1,001 1,027 1,035 1,035 1,027 1,027 165 169,575 CLI PREF A2 1,025 1,070 1,072 1,072 1,072 1,072 105 112,560 CPG PREF B 100.2 102.9 103 103 102.9 102.9 260 26,779 DD PREF 96.3 96.4 96.4 96.4 96.4 96.4 6,470 623,708 EEI PREF B 97 98.95 98 98.95 97.2 98.95 7,520 738,298.5 FDC PREF B 1,004 1,019 1,019 1,019 1,019 1,019 180 183,420 JFC PREF B 972.5 990 990 990 971.5 971.5 320 311,250 MWIDE PREF 6B 100.7 102.9 102.9 102.9 102.9 1,470 151,263 MWIDE PREF 6C 103.9 105.8 104.3 104.3 104.3 104.3 650 67,795 MWIDE PREF 7A 100.4 104.7 104.8 104.8 104.8 104.8 10 1,048 MWIDE PREF 7B 104.1 104.9 104.9 104.9 104.9 104.9 20 2,098 PCOR PREF 3B 1,001 1,005 1,006 1,006 1,006 1,006 60 60,360 PCOR PREF 4A 990 991 990 991 990 990 8,900 8,812,400 99,000 PCOR PREF 4B 1,000 1,030 1,030 1,030 1,030 1,030 5 5,150 PCOR PREF 4C 1,006 1,020 1,010 1,010 1,010 1,010 250 252,500 PCOR PREF 4D 1,000 1,100 1,000 1,000 990 1,000 3,035 3,007,500 PCOR PREF 4E 1,001 1,015 1,029 1,029 1,029 1,029 25 25,725 SMC PREF 2I 74.25 75.15 75 75 74.25 74.25 10,000 743,727.5 SMC PREF 2L 79 79.1 79.1 79.1 79.1 79.1 1,000 79,100 SMC PREF 2N 79 80 80 80.5 80 80 22,230 1,778,900 (1,778,900) SMC PREF 2O 80.1 81 81.45 81.5 80 80.95 42,330 3,388,239 SMC PREF 2Q 73.8 77.3 73.8 73.8 73.8 73.8 700 51,660 SMC PREF 2R 76.5 77 77 77 77 77 40 3,080 SMC PREF 2S 76 77.5 77.9 77.9 75.25 77.5 840 65,249.5 SMC PREF 2U 77 78.75 77.7 78.85 77.7 78.85 100 7,873.5 TECH PREF B2C 12.22 13 13 13 13 13 500 6,500 8.3 8.4 8.4 8.4 8.4 8.4 2,400 20,160 TECH PREF B2D VLL PREF 2A 90 92.3 90 92.3 90 92.3 110 9,923 VLL PREF 2B 92.5 93.1 93.1 93.15 93.1 93.1 1,960 182,520.5 ABS HLDG PDR 3.91 4.46 4.48 4.5 GMA HLDG PDR 5.29 5.4 5.33 5.33

4.46 5.29

24,000 65,000

107,730 343,870

(22,390) -

AGI WARRANT

1.09

1.1

2,095,000

2,309,510

WARRANTS

46.6252 2.2006 1.1197

40.3 141 9.2 117.8 61.2 15.52 11.8 69.3 7.73 16.44 57 56 119 26 67.45 26.5 0.62 1.4 1.38 0.66 4.55 7.5 0.25 1,920 0.77 203 3,570 0.97

INDUSTRIAL ACEN CORP 2.96 2.98 2.99 3.03 2.92 2.96 13,635,000 40,690,610 (1,032,350) ALSONS CONS 0.52 0.53 0.55 0.55 0.5 0.53 560,000 285,900 (171,100) ALTERNERGY HLDG 0.83 0.85 0.85 0.85 0.82 0.84 147,000 122,060 ABOITIZ POWER 43.95 44 43.7 44 43.7 44 1,453,100 63,878,855 15,646,100 RASLAG 0.84 0.88 0.85 0.88 0.85 0.88 27,000 23,400 BASIC ENERGY 0.123 0.124 0.122 0.124 0.12 0.123 1,570,000 190,270 CITICORE RE 4.4 4.5 4.5 4.5 4.4 4.5 84,000 369,900 FIRST GEN 19.04 19.06 18.62 19.12 18.6 19.04 2,277,800 42,984,522 2,796,820 FIRST PHIL HLDG 77.6 78.45 77.5 78.25 77.5 77.6 56,940 4,425,555.5 JOLLIVILLE HLDG 3.1 4.3 3.97 3.97 3.97 3.97 11,000 43,670 MERALCO 599 601 594 603.5 587 599 440,970 264,010,120 58,239,990 MANILA WATER 41.05 41.4 41.7 41.7 40.95 41.05 887,700 36,574,725 5,242,170 MAYNILAD 16.98 17 17.12 17.12 16.94 17 14,452,100 245,759,000 (13,386,004) PETRON 2.52 2.53 2.5 2.52 2.49 2.52 2,722,000 6,821,800 100,049.9997 PRYCE CORP 13.52 13.6 13.5 13.6 13.4 13.6 17,900 242,370 10,720 REPOWER ENERGY 6.68 6.75 6.56 6.75 6.56 6.75 3,000 19,865 SEMIRARA MINING 30.4 30.6 29.3 30.7 28.9 30.4 1,881,300 55,906,475 (5,535,665) SYNERGY GRID 17.56 17.7 17.9 17.94 17.42 17.56 1,693,500 29,884,480(8, 812,427.9997) SHELL PILIPINAS 6.7 6.72 6.7 6.75 6.6 6.72 1,158,600 7,770,071 (906,096) SPC POWER 10.18 10.38 10.4 10.4 10.14 10.38 77,000 786,480 67,512 SP NEW ENERGY 1.19 1.2 1.21 1.22 1.18 1.2 12,606,000 15,082,190 687,270 TOP LINE 1.7 1.71 1.62 1.71 1.62 1.71 6,352,000 10,659,300 (58,290) VIVANT 19 21.85 19.44 19.44 19.44 19.44 100 1,944 AGRINURTURE 0.55 0.57 0.57 0.57 0.56 0.57 257,000 145,690 AXELUM 2.26 2.3 2.34 2.34 2.25 2.25 60,000 135,780 CNTRL AZUCARERA 9.71 10.18 10.16 10.16 10.16 10.16 100 1,016 (1,016) CENTURY FOOD 40.4 41 40.65 41.3 40.4 40.4 1,777,000 72,714,150 (4,451,195) DEL MONTE 4.62 4.7 4.77 4.77 4.6 4.62 18,000 83,390 27,600 DNL INDUS 3.97 3.98 3.99 4.04 3.88 3.98 4,914,000 19,542,340 7,309,150 EMPERADOR 16.08 16.1 16.1 16.2 15.94 16.08 2,200,400 35,328,282 3,344,090 SMC FOODANDBEV 55.45 55.5 55.8 55.9 55.35 55.45 16,340 908,433 (192,966) FIGARO GROUP 0.59 0.6 0.6 0.6 0.59 0.6 529,000 313,530 ALLIANCE SELECT 0.38 0.39 0.38 0.38 0.38 0.38 10,000 3,800 (3,800) 0.64 0.65 0.64 0.64 0.64 0.64 110,000 70,400 FRUITAS HLDG GINEBRA 297.2 300 301.2 305 295.2 300 20,820 6,273,964 (2,954,124) 209.2 209.6 210 214.8 204.8 209.6 2,495,420 523,460,160 42,512,176 JOLLIBEE 2.44 2.46 2.49 2.49 2.44 2.44 892,000 2,190,470 (458,160) KEEPERS HLDG 34.65 35.2 34.2 35.8 34.2 35.2 12,600 438,965 146,580 LIBERTY FLOUR 5.96 6.89 5.82 5.82 5.82 5.82 100 582 582 MACAY HLDG 2.32 2.34 2.32 2.32 2.3 2.32 54,000 125,200 (18,520) MAXS GROUP 0.062 0.064 0.062 0.064 0.062 0.064 100,000 6,300 MG HLDG MONDE NISSIN 6.17 6.23 6.05 6.28 5.97 6.17 8,055,800 49,529,012 (11,412,055) 7 7.01 7 7 7 7 900 6,300 SHAKEYS PIZZA ROXAS AND CO 2.55 2.59 2.54 2.58 2.54 2.58 27,000 69,320 RFM CORP 4.85 4.89 4.93 4.93 4.82 4.89 773,000 3,763,720 (2,621,940) 0.048 0.052 0.052 0.052 0.052 0.052 100,000 5,200 SWIFT FOODS UNIV ROBINA 70.8 70.85 68.9 71.65 68.7 70.85 3,621,770 255,468,319 5,985,945.5 0.53 0.55 0.53 0.54 0.53 0.54 130,000 69,130 VITARICH VICTORIAS 1.9 2 2 2 2 2 147,000 294,000 ATN HLDG A 0.49 0.5 0.495 0.495 0.49 0.49 210,000 103,900 CONCRETE B 46.6 52.9 52.9 52.9 52.9 52.9 20 1,058 CONCREAT HLDG 1.09 1.12 1.1 1.12 1.09 1.09 118,000 129,060 (3,300) 2.67 2.69 2.69 2.69 2.66 2.67 16,000 42,880 (2,670) EEI CORP 3.07 3.08 3.11 3.11 3.03 3.07 398,000 1,214,800 61,400 MEGAWIDE 40 45.95 45.95 45.95 45.95 45.95 16,000 735,200 SUPERCITY CROWN ASIA 1.66 1.67 1.68 1.68 1.67 1.67 28,000 46,780 EUROMED 1.01 1.05 1.06 1.06 1 1.06 13,000 13,290 6,000 13.7 14 13.66 15 13.6 14 77,000 1,078,094 CONCEPCION GREENERGY 0.178 0.181 0.182 0.182 0.18 0.181 600,000 108,500 INTEGRATED MICR 4.03 4.04 4.01 4.1 3.95 4.03 1,546,000 6,225,760 (683,730) 1.13 1.14 1.08 1.14 1.08 1.13 4,001,000 4,449,110 (4,780) IONICS 10.68 10.7 11 11 10.62 10.7 11,000 119,754 PANASONIC CIRTEK HLDG 0.68 0.69 0.65 0.69 0.64 0.68 1,064,000 701,910 STENIEL 2.1 2.18 2.08 2.18 2.08 2.18 4,000 8,520

PHIL. DEPOSITARY RECEIPTS

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. 1 - Effective October 1, 2025, its fund management is with BPI Wealth. * The first tranche (Corporate Debt Fund 1) of the ATRAM Unitized Corporate Debt Vehicle, Inc. matured on May 25, 2025.

January 7, 2026

Net Foreign Bid Ask Open High Low Close Volume Value Trade (Peso) Stocks Buy (Sell)

requirement increases by 2.52 percent per annum. As part of its long-term sustainability strategy, Meralco has already contracted 1,536 MW of renewable energy capacity from various suppliers--exceeding its initial target of 1,500 MW. Through its strategic sourcing initiatives, renewable energy is expected to account for 22 percent of Meralco’s supply portfolio by 2030. The latest approved PSPP for Meralco is still from 2025, Fernandez said. Meralco is still waiting for the issuance of certificates of conformity (CoC) for three CSPs. These are the 600-MW baseload for supply starting 2028, 900-MW baseload for supply starting 2030, and 450-MW mid-merit, with the first 300-MW to be supplied starting 2028 and the remaining 150-MW to be supplied by 2029. A CoC should be issued by the DOE prior to the conduct of a CSP. DOE Undersecretary Mario Marasigan said via Viber that the agency is proceeding with its evaluation after receipt of a copy of a letter from the Philippine Competition Commission (PCC) to Meralco on its compliance for the 450MW mid-merit and 600MW baseload CSPs. “We also received information on PCC’s ongoing evaluation of Meralco’s 900-MW CSP.”

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CTS GLOBAL 0.38 0.39 0.38 0.38 0.38 0.38 10,000 3,800 HAUS TALK 1.03 1.08 1.08 1.08 1.08 1.08 12,000 12,960 ITALPINAS 0.88 0.89 0.9 0.9 0.87 0.89 43,000 37,660 3,520 LFM PROP 0.038 0.039 0.04 0.04 0.037 0.039 800,000 31,300 MAKATI FINANCE 1.36 1.9 1.75 1.75 1.75 1.75 2,000 3,500 MERRYMART 0.44 0.45 0.425 0.45 0.42 0.45 1,250,000 542,450 128,600 XURPAS 0.25 0.255 0.25 0.255 0.25 0.255 3,240,000 811,750 42,500 NEXGEN ENERGY 3.08 3.1 3.12 3.12 3.12 3.12 2,000 6,240

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Banking&Finance

Debt condonation seen hiking farm production By Jonathan L. Mayuga @jonlmayuga

OVERNMENT officials expect the extinguishment of farmers’ obligations would lead to an increase in productivity, among others. This after the Department of Agrarian Reform (DAR) announced the distribution of more than 5,000 land titles and “Certificates of Condonation with Release of Mortgage” in a massive, region-wide and simultaneous event in Central Luzon. The activity provides a major economic relief and land security to thousands of agrarian reform beneficiaries (ARBs), according to the DAR. The agency noted that the certificates of condonation alone writes off nearly P125 million in agrarian debts, which would be absorbed by the state, potentially transferring such to government financial institutions. Implemented through DAR provincial offices, the initiative directly benefited over 3,000 ARBs who were freed from long-standing land amortization debts, according to the agency. With their obligations erased, farmers can now redirect limited resources toward improving farm productivity, increasing household income and securing their families’ future, according to DAR officials.

The distribution included nearly 500 electronic titles under a DAR project called “Split,” more than 400 regular land titles and around 4,200 condonation certificates, benefiting over 4,000 ARBs across the region. By securing clear and individual land ownership, “Split” strengthens farmers’ access to credit, government support services and long-term investments. DAR Central Luzon OIC–Regional Director Eric Francis G. Luna was quoted in a statement as saying that the accelerated debt condonation and land title distribution is based on government’s plan to “fast-track agrarian reform and deliver immediate, tangible benefits to farmers.” The debt condonation is implemented under Republic Act 11953, or the New Agrarian Emancipation Act, signed into law on July 7, 2023. The landmark law condones all unpaid agrarian debts—including interests and surcharges—allowing DAR-assisted farmers to focus on higher production, increased income and long-term food security. Freeing farmers from debt while granting secure land tenure empowers them to invest more confidently in their farms, raise productivity and finally enjoy the full rewards of their labor, is a priority program of the Marcos administration, DAR Secretary Conrado M. Estrella 3rd has said.

BusinessMirror

By VG Cabuag

@villygc

HE Ayala-led Bank of the Philippine Islands (BPI) revealed last Wednesday it recorded P1.81 billion in total disbursements by the end of 2025 through its “Salary On-Demand” (SOD) and “Sweldo On-the-Spot” (SOTS) services. The milestone highlights the growing need among Filipino workers for faster, safer and more flexible access to their hard-earned pay, according to the country’s second-largest lender in terms of assets. According to BPI, its team designed the services “to meet the evolving needs of today’s workforce.” The BPI added that its earned wage solutions allow employees to receive a portion of the salary they have already earned, before the usual payday. “This is to help them manage dayto-day expenses, address emergencies and avoid high-interest loans.” Through the SOD service, employees of partner companies can in-

stantly withdraw their earned wages via the “PayWage” app. Meanwhile, the SOTS service enables qualified BPI payroll accountholders to withdraw their salary anytime, conveniently through the same platform. “Earned wage access gives employees control over the salary they’ve already earned,” BPI Senior Vice President Jose Raul E. Jereza said. “By providing timely access to income, employees are less likely to rely on costly, short-term borrowing. This milestone shows that more employers and employees are embracing smarter, healthier ways to manage cash flow.” As workplaces continue to evolve, BPI sees earned-wage access as a key part of modern employee benefits, one that supports productivity, reduces financial stress, and strengthens overall financial wellness. By integrating these solutions into payroll systems, the BPI said it helps employers care for their people while promoting responsible money management.

By Samuel P. Medenilla

@sam_medenilla

O prevent fraudulent claims, the Philippine Health Insurance Corp. (PhilHealth) will soon use Artificial Intelligence (AI) for its pre-validation processing and an enhanced public information drive.

The state insurer is eyeing to roll out the new measure during the first quarter of the year to streamline the detection of anomalous claims. “When your e-claims are entered, it will be detected if your diagnosis matches the lab tests that were done [to you]. So, basically, we will flag anything that is potentially ineligible right there,” PhilHealth President and CEO Emmanuel M. Mercado said

partly in Filipino during a news briefing in Malacañang last Wednesday. It will be part of the stringent screening process of PhilHealth for claims, which now also includes biometric requirements before it pays medical providers, Mercado said. The PhilHealth chief added that the initiative will address the observations made by the Philippine Institute for Development Studies

@brownindio

HE P6.8-trillion budget for 2026 bolsters pork barrel politics over the systemic social and economic transformation needed for true national development, according to a private think tank. According to Ibon Foundation Inc. Executive Director Jose Enrique A. Africa, they believe these are times that call for tempering expectations “from the very low base of decades of entrenched fiscal opacity.” The stubborn persistence of pork confirms that greater visibility of numbers clearly does not necessarily constitute meaningful reform, Africa added. He explained that amid the Marcos administration’s anti-corruption posture, “public pressure influenced the 2026 budget with some reallocation of spending items.” “However, this was not according to any coherent strategy for national development or sustained social and economic transformation, and pork barrel logic prevailed,” Africa said. According to him, an estimated

₱500 billion remains tied to “porkrisky” infrastructure projects. These funds are tucked away within the “allocables” and “non-allocables” of the National Expenditure Program (NEP)—“categories whose specific details remain hidden from the public by the administration.” Africa added that “the much ballyhooed cut in pork barrel projects was, meanwhile, not really reform but a redistribution of discretion.” Pork barrel was merely shifted from “hard” infrastructure projects towards “soft” pork barrel projects now totaling some P150 billion for emergency aid (P63.9 billion), medical assistance (P51.6 billion), informal workers (P22.4 billion), and farmers and fisherfolk (P10 billion), he wrote. “These address immediate needs but are largely consumption-oriented, fragmented, and vulnerable to patronage rather than embedded in a coherent social protection or productivity-enhancing framework,” Africa added. He said Ibon Foundation is disappointed as the President is keeping the P4.6 billion in confidential and intelligence funds that remain

(PIDS) in a discussion paper published last Tuesday. The paper flagged PhilHealth’s “limited fiduciary oversight,” which the state-run think tank said has an “overreliance on manual, evaluatordrive review, coupled with inconsistent and outdated fraud flags.” PhilHealth was hit by several issues of fraud in the past. In 2020, it noted that it may have “potentially lost” P10.2 billion fraudulent schemes in the prior year. Last month, the state health insurer launched an investigation on the 1,000 suspected ghost patients in Cordillera covering P680,000 worth of questionable claims. The PIDS noted the state insurer should enhance its fraud detection mechanisms so it will not make any undue payments to healthcare service providers. Mercado said they are already addressing the concerns raised by PIDS.

“So, this year, we have put in place a lot of gates, like pre-authorizations, pre-validation to prevent this. Because it’s better to preemptively filter what we’re going to cover than to deliver the care and then later try to recover it, especially if we’ve already paid for it,” he added. PhilHealth will also be strengthening its information program to make its members more aware of their benefits so they cannot be preyed upon by scammers. “But what is more important is that our patients are preemptively explained what the services are and the benefits they need to get,” Mercado said. “We will put up posters in these hospitals today, stating your rights: if you have a no balance bill or basic accommodation and you have a Z package, you should not have to pay anything here at accredited hospitals,” he added.

Policy easing to propel economic growth—Metrobank By Reine Juvierre Alberto @reine_alberto

HE Philippine economy is poised for a gradual recovery this year, as easing inflation and a more accommodative policy environment open the door for renewed growth, according to the research team of the Metropolitan Bank & Trust Co. (Metrobank Research). In its 2026 Economic Outlook, Metrobank said conditions are turning more constructive following last year’s market jitters over US policy uncertainty and its spillover to the global economy. “While challenges persist, particularly on the external and confidence fronts, the Philippine economy appears better positioned to absorb shocks,” the bank said. Economic growth will be propelled by a monetary policy easing by the Bangko Sentral ng Pilipinas (BSP), which is expected

to continue with its easing cycle this year. Metrobank expects the BSP to deliver cumulative rate cuts of 50 basis points to bring the target reverse repurchase rate to its terminal rate at 4 percent by the end of the year. The BSP could reduce the key policy rate further to its terminal rate given the within-target inflation, still-soft economic activity and subdued consumer and investor sentiment, Metrobank said. This would also bring the interest rate differential with the US Federal Reserve to widen to 125 basis points, as the Fed is seen to deliver a cumulative 100-basispoint rate cut next year. The Fed is more likely to tolerate slightly elevated inflation levels if doing so supports additional stimulus for a weakening labor market and the broader economy, Metrobank said. With the BSP’s policy rates becoming neutral this year and the investment en-

vironment improving, Metrobank said investment activity will also pick up. The anticipated increases in direct cash transfers from the government instead of the budget initially allocated for public construction will also improve private consumption, it added. “However, gains will likely be capped by still elevated consumer debt levels and weak sentiment stemming from ongoing government controversies,” Metrobank noted. On inflation, this could trend higher to 3.3 percent this year due to demandside pressures, exacerbated by higher import costs due to higher tariffs and a weaker peso. “As the lagged impact of BSP’s monetary easing cycle takes full effect, we expect a pick-up in household consumption,” Metrobank added. Next year, inflation is seen to settle at 3 percent.

Meanwhile, government spending is expected to remain subdued for the rest of this year, while consumption remains subpar. “Following a fiscal freeze and heightened fiscal prudence this year, government spending is expected to improve next year, supporting economic growth,” Metrobank added. The Philippine economy grew weaker-than-expected at 4 percent in the third quarter of 2025, down from 5.5 percent in the previous quarter, amid allegations of massive corruption that dented confidence. Beyond the anticipated slowdown in public construction and government spending, private consumption also slumped to levels last seen more than 15 years ago outside of the pandemic period. Despite this, exports proved more resilient than expected despite the higher tariffs imposed by the United States.

BDO bonds offer investors 5.7125% in annual return

HE Sy family-led BDO Unibank, Inc. (BDO) has priced its three-year ASEAN Sustainability Bonds to offer investors a 5.7125 percent annual return. In a stock exchange filing last Wednesday, the BDO said it has launched the public offer of its pesodenominated fixed-rate sustainability bonds as it aims to raise a minimum of P5 billion. T he minimum investment

amount is P500,000, with additional increments of P100,000 thereafter. The offer period runs from January 7 to 19, 2026, while the issue, settlement and listing date will be on January 26, 2026. Standard Chartered Bank is acting as the sole arranger, with BDO Unibank and Standard Chartered as selling agents and BDO Capital & Investment Corp. as financial adviser. Proceeds from the sale will be used

’26 budget prioritizes pork barrel, not growth—Ibon By Rizal Raoul S. Reyes

PhilHealth to use AI for info drive, spot fraudulent claims

T BPI paid out P1.8B in ’25 for on-demand services

Editor: Dennis D. Estopace • Thursday, January 8, 2026

largely exempt from meaningful oversight. To aggravate the situation, the final budget even increases the local government pork dispensed to P57.9 billion, according to the Philippines’s first and oldest nongovernment think tank. Given the magnitude of the economy’s problems, Africa said each annual budget should be a deliberate step toward structural transformation. Instead, “long-standing ‘mispriorities’ are once again reproduced,” he added. Africa said the partial P92.5 billion veto of unprogrammed appropriations is not so much a substantive fiscal correction but a largely “performative” gesture aimed at projecting anti-corruption credentials without altering the underlying architecture of discretionary spending. Contrary to official claims, he said the 2026 budget does not mark a shift toward a genuinely “people-centered development agenda. Rather, it remains oriented toward short-term political survival rather than longterm development outcomes. As with previous budgets, Africa said it boosts a consumption-led and

patronage-driven growth model that stifles domestic productivity and deepens poverty, inequality, and dependency. Hence, Ibon Foundation expects economic performance this year to be either lethargic or underperform “as there is underinvestment in agriculture and no investment in Filipino manufacturing.” Africa said the country is not going to substantial and decent employment without significant investments in these sectors and informality and joblessness will persist. According to Ibon Foundation, the government needs to uplift the quality of life of Filipinos to address universal public provision of education, health and housing as well as of transport, water, and electricity. The people will suffer expensive social services and utilities without these, Africa said. “Strategic national development—anchored on strong domestic agriculture, Filipino industrialization, and universal public services— remains secondary, or even absent, within the overall fiscal framework,” he emphasized.

to support the BDO’s lending activities and diversify funding sources, as well as to finance or refinance eligible assets as defined in the bank’s Sustainable Finance Framework. “BDO reserves the right to amend the terms and the timing of the issuance as it deems necessary,” the bank said. The offering follows BDO’s four previous sustainability bond issuances since January 2022, which raised an aggregate P286.7 billion.

The Securities and Exchange Commission has confirmed that the issuance complies with the ASEAN Sustainability Bond Standards and the SEC’s related circular. The bonds are securities exempt from registration under Section 9.1(e) of the Securities Regulation Code. BDO is the country’s largest bank in terms of total assets, loans, deposits and trust funds under management. Reine Juvierre S. Alberto

17 microfinance groups, entreps feted in awards

HE corporate social responsibility arm of Citibank and Microfinance Council of the Philippines Inc. (MCPI) announced awarding Filipino micro-entrepreneurs and microfinance institutions (MFIs) at the 4th Digital Financial Inclusion Awards (DFIA). A total of 17 outstanding microentrepreneurs received P100,000 each in cash grants and brand-new laptops to help accelerate their digital journey. Representing diverse industries such as agriculture, food production, retail, and handicrafts, this year’s awardees are Josephia Azores, Roby Grace Bernabe, Mylene Bersabal, Carmelita Dapanas, RJ De Chavez, Ailyn Flormata, Raquel Lanaban, Gladys Maipid, Edna Maloon, Annalisa Monil, Lorlie Noblezada, Rosalie Orijola, Cecilia Oroc, Maricar Pagao, Danise Palmero, Niel Danica Polong, and Alan Romero. At the institutional level, three institutions were also recognized for their leadership in advancing digitalization. The awardees included GRF Hublag Microfinance Foundation Inc., MASSSPECC Cooperative Development Center, and Taytay Sa Kauswagan Inc. Jointly organized by the MCPI and the

Citi Foundation, with the support of the Bangko Sentral ng Pilipinas (BSP), the DFIA continues to champion inclusive progress through digital transformation. The awarding ceremony gathered key leaders and partners in the finance sector, including BSP governor Eli M. Remolona, Jr., Citibank NV Manila Branch CEO Paul Favila and MCPI Chairman Eduardo C. Jimenez. “Our awardees prove that the old narrative of digital tools being out of reach and too complicated no longer holds,” Remolona said during the awarding ceremonies. “With simple yet innovative digital tools, such as online selling, QR payments, business systems, we are rewriting what’s possible for Filipino entrepreneurs.” “The DFIA reinforces Citi Foundation’s mission to promote economic progress and improve the lives of people in low-income communities. We celebrate not only your business milestones but the lives you continue to uplift, as we all work together to build more sustainable, economically vibrant communities. Your entrepreneurial spirit and commitment to innovation inspire us all,” Favila said.

Health&Fitness BusinessMirror

Thursday, January 8, 2026

Editor: Anne Ruth Dela Cruz

Corrective treatment is vital for cleft lip, palate to avoid lasting consequences—advocates

By Rory Visco Contributor

VERY three minutes, a child somewhere in the world is born with a cleft lip or cleft palate.

The condition is medically correctable, often through a single surgery. Yet for many children, particularly in low- and middle-income countries, the absence of timely care can shape a lifetime marked by poor health, stigma, and limited opportunity. In the Philippines, where access to specialized surgical services remains uneven, thousands of children continue to grow up without corrective treatment. The result is not only a visible facial difference, but a complex web of medical, social, and economic challenges that affect entire families.

Common condition yet often untreated CLEFT lip and cleft palate are among

the most common congenital conditions worldwide. When left untreated, they can interfere with feeding, speech, hearing, and normal growth. Children face increased risks of malnutrition, recurrent infections, and delayed development, problems that can persist well into adulthood. Despite the presence of effective surgical solutions, access is a major obstacle specially in rural and underserved areas of the Philippines where many hospitals lack trained reconstructive surgeons or facilities needed for cleft repair. For those who live on daily wages, surgery costs often amount to tens of thousands of pesos, placing treatment beyond reach.

The effects of untreated cleft conditions also extend far beyond health. Children with visible facial differences are frequently subjected to bullying, social exclusion, or silence. Some are kept out of school, while others grow up internalizing a life with a sense of shame. Health advocates stress that cleft repair is not cosmetic surgery but essential health care. “Every three minutes, a child is born with a cleft condition,” explains Kathy Magee, co-founder, president, and CEO of Operation Smile, a global nonprofit organization that provides free cleft surgeries and comprehensive care. “Thanks to our partners like AS Watson, we are able to provide access to essential surgical and comprehensive cleft care for thousands of patients. With its support, we are closing the gap between where our patients live and access to the care they need.” Often, cleft repair surgery can take under an hour, but effective care is not confined to a single procedure. Early diagnosis, nutrition support, speech

therapy, dental care, and long-term follow-up are all critical to successful outcomes. Advocates note that surgery is only one part of the solution. Without referral networks and trained local providers, many children are missed.

Partnerships filling the gaps GLOBAL partnerships between nonprofit medical organizations and private-sector supporters have helped address some of these challenges. These collaborations have enabled thousands of free cleft surgeries worldwide, showing that when funding, expertise, and coordination align, anything is possible. For Dr. Malina Ngai, Group CEO of AS Watson, whose company supports cleft care initiatives through its global “Give a Smile” campaign, she highlighted the broader impact of these efforts. “These surgeries are not just about changing faces,” Ngai remarked. “They change lives, restoring confidence, dignity, and hope not only for children, but for their families and communities.”

This year, the company will celebrate its 185th anniversary, and to mark its legacy of care, AS Watson has achieved a significant philanthropic breakthrough where it surpassed its global goal of providing 10,000 free life-changing surgeries for children with cleft conditions through its “Give a Smile” campaign with Operation Smile. The company will raise the bar further with a new commitment: 15,000 successful surgeries by the year 2030, an ambitious target but it reaffirms the company’s dedication to empowering the next generation with confidence and brighter futures.

A life changed in an hour FOR parents, the effects of surgery are often immediate and profound. Mothers who once struggled to feed their babies watch them eat without pain. Fathers who feared their children would never be accepted see them return to school with renewed confidence. In many cases, a single operation alters the course of an entire family’s future. Health experts argue that cleft

care should be fully integrated into national maternal and child health programs. Early screening, public awareness, and efficient referral systems can ensure treatment within the first year of life when outcomes are best. Equally important is dispelling persistent myths that wrongly attribute cleft conditions to superstition or parental fault.

Equity in health care AS the global health community continues to push for universal health coverage, advocates say cleft care deserves greater attention. The condition is treatable and medical expertise exists. What remains is the commitment to ensure that a child’s access to care is not determined by geography or income. For every child still waiting, surgeons and caregivers share a consistent message: a cleft condition is not a life sentence. With timely treatment and sustained investment, it can be the beginning of a future defined not by limitation, but by healing and opportunity.

CSC grants gov’t employees five days of wellness leave Start the new year right with proper exercise, healthy diet, discipline—DOH By Rizal Raoul S. Reyes Contributor

By Claudeth Mocon-Ciriaco

TART the year right by staying healthy after the holidays. This was the reminder of the Department of Health (DOH), revealing that there were 422 cases of non-communicable diseases (NCDs) recorded from December 21, 2025 to January 5, 2026. Persons over 40 years old were the most affected by NCDs, the DOH said. According to the data from the DOH, most of the cases recorded were acute coronary syndrome, bronchial asthma, and acute stroke and affected mostly individuals aged 40 years and above. Meanwhile, seven out of 12 deaths recorded were caused by brain attack or acute stroke. The DOH also encouraged the public to observe proper exercise, healthy diet and discipline.

Vulnerable to risk factors MEANWHILE, the World Health Organization (WHO) said that children, adults and the elderly are all vulnerable to the risk factors that contribute to NCDs, whether from unhealthy diets, physical inactivity, exposure to tobacco smoke, or the harmful use of alcohol or air pollution. Unhealthy diets and a lack of physical activity may show up in people as raised blood pressure, increased blood glucose, elevated blood lipids

and obesity, WHO said. It added that these are called metabolic risk factors and can lead to cardiovascular disease, the leading NCD in terms of premature deaths. Behavioral risk factors that increase the risk of NCDS include tobacco use (including the effects of exposure to second-hand smoke); unhealthy diets, including excess salt, sugar, and fats; harmful use of alcohol; and insufficient physical activity.

St. John Colleges Nursing program partners with Asian Hospital and Medical Center

IN the photo are, from left, St. John Colleges faculty representatives Eden A. Santos and Armando Jay DP. Santos; Dr. Nicolo Andrei A. Añonuevo, Dean of the College of Nursing of St. John Colleges; Dr. Beaver R. Tamesis, President and CEO of AHMC; Dr. Carolina P. Buhain, Director of Nursing and Dr. Fides F. Adiviso, Department Head for Nursing Fundamentals.

HE Col lege of Nursing of St. John Colleges has formalized a partnership with Asian Hospital and Medical Center (AHMC) to expand clinical training opportunities for nursing students and strengthen faculty development, school officials said. The partnership was formalized on October 7, 2025, marking what both institutions described as a significant step toward preparing future nurses for a sustainable healthcare workforce. AHMC is a tertiary healthcare facility accredited by Joint Commission International and a member of

the Metro Pacific Hospital Group, the country’s largest private hospital group. Under the affiliation, St. John Colleges’ nursing students will gain exposure to Asian Hospital’s internationally benchmarked systems and facilities, including its Nursing Simulation Laboratory and specialized clinical areas such as the telemetry unit and medical and surgical intensive care units. School officials said the partnership allows students and faculty to experience healthcare environments that may not be readily avail-

able in Laguna, citing the hospital’s accessibility via the South Luzon Expressway (SLEX), which enables short travel time between the two institutions. “This collaboration goes beyond a written agreement and is intended to translate into actual clinical practice and measurable learning outcomes,” the institutions said in a statement, adding that the partnership also places emphasis on faculty development as a key component in shaping competent future nurses. St. John Colleges noted that its nursing program is currently the only affiliated partner of Asian Hospital in Calamba. Present during the formalization ceremony were Dr. Beaver R. Tamesis, President and Chief Executive Officer of AHMC; Dr. Carolina P. Buhain, Director of Nursing; Dr. Fides F. Adiviso, Department Head for Nursing Fundamentals; Dr. Nicolo Andrei A. Añonuevo, Dean of the College of Nursing of St. John Colleges; and faculty representatives Armando Jay DP. Santos and Eden A. Santos. The partnership is expected to contribute to workforce readiness in healthcare and support broader efforts toward building healthier communities through improved nursing education and training.

N recognition of the importance of work-life balance and in compliance with Republic Act No. 11036 or the Mental Health Act, the Civil Service Commission (CSC) approved a maximum of five days of Wellness Leave (WL) last December for eligible government officials and employees. Under CSC Resolution No. 2501292, the CSC emphasized provisions of Joint Administrative Order No. 2023000 issued with the Department of Labor and Employment (DOLE) and the Department of Health (DOH), which identifies mental health as among the priority areas for workplace health promotion interventions. In a statement posted on its website, CSC Chairperson Marilyn Barua-Yap said the resolution has been implemented because of the findings from a 2025 Global Workplace Report showing that Filipino workers have the second-highest stress levels in Southeast Asia, driven by unhealthy lifestyles and heavy workloads. Moreover, these underscore the need for workplace policies that promote both mental and physical well-being. “The Wellness Leave is a proac-

tive response to the realities faced by our workforce today. By giving employees the space to rest, recover, and care for themselves, we reinforce a public service environment that is compassionate, resilient, and more responsive to the needs of the Filipino people,” said Barua-Yap.

follow the same procedures for Vacation Leave, Sick Leave, and other leave privileges adopted by the agency. Applications must be filed at least five days before the intended date of availability. For emergency cases, filing shall be done immediately upon return to work.

Guidelines

Safe space

TO support this initiative, the CSC approved the adoption of the Wellness Leave with the following guidelines: n According to the CSC, the availability period may be taken consecutively for a maximum of three days at a time or on separate non-consecutive days. n The Wellness Leave is non-cumulative, non-commutable, and forfeited if not used within the calendar year. According to the CSC, government employees can avail of the Wellness Leave for mental health care, physical wellness activities, or for a general break from work. CSC said WL is distinct from existing leave benefits such as Vacation and Sick Leave and is intended specifically for wellness and recovery. It said applications must be recommended by the immediate supervisor and submitted to the head of office for approval. Meanwhile, filing shall

TO promote a safe space for those availing of WL for mental health reasons, the CSC said all information related to the applicant’s mental health condition shall be treated with strict confidentiality and in compliance with the Data Privacy Act of 2012. The policy shall take effect 15 days after its publication in a newspaper of general circulation, with a follow-up advisory to announce the official publication and effectivity date. “The CSC affirms its commitment to promoting a healthy, supportive, and enabling work environment for all government workers, one that cultivates resilience, uplifts workplace morale, and strengthens the civil service’s capacity to deliver excellent and compassionate service to its citizens by also considering the overall wellness of the workforce that comprises the public sector,” Barua-Yap explained.

The Medical City South Luzon supports World AIDS Day 2025 with Red Gala

N its steadfast commitment to supporting individuals living with HIV, The Medical City (TMC) South Luzon celebrated World AIDS Day 2025, with its Annual Red Gala on December 1, 2025, at Paseo Premiere Hotel, Sta. Rosa Business Park, Greenfield City, Sta. Rosa, Laguna. Organized by the TMC South Luzon’s Center for Reproductive Health and STI Treatment (CREST), with Dr. Mark Kristoffer U. Pasayan, the Center Director, and the Section of Infectious Diseases led by Dr. Monica Pia Montecillo, this year’s theme was “Renaissance.” It featured a fashion showcase attended by TMC South Luzon physicians, healthcare professionals, staff, and special guests, who walked the runway in colorful attire, looking like queens, kings, or members of the Renaissance Period nobility. This year’s beneficiary was the Duyan Program of Project Red Ribbon, which provides essential medical care and psychosocial support to children and families affected by HIV. Their CEO and beneficiaries were present at the event to witness the TMC South Luzon’s Red Gala.

Just like all the previous TMC South Luzon’s Red Gala, it was not only a celebration but also a fundraising initiative that aimed to bring together partners, advocates, and stakeholders in a collective effort to raise awareness, strengthen advocacy, and generate resources for programs that create lasting impact in the lives of people affected by HIV/AIDS. In his opening message, TMC South Luzon’s Chief Medical Officer, Dr. Earl Richardson Q. Chua, emphasized the importance of HIV prevention and treatment and the role of private healthcare facilities to curb the spread of HIV in the region. “The Medical City South Luzon was one of the pioneers in institutionalizing the education and awareness, prevention, and treatment of HIV in Calabarzon. What started as a public and governmental program led by the Department of Health has become a private partnership program at The Medical City South Luzon in Calabarzon,” said Dr. Earl Chua. With HIV cases on the rise, especially among the youth in the Philippines, The Medical City South Luzon joins the DOH’s call for enhanced and early diagnosis,

THE RED GALA Team is composed of, from left, Dr. Monica Pia Montecillo, Head of TMCSL’s Section of Infectious Diseases, Dr. Soledad Rosanna Cunanan, Sta. Rosa’s City Health Officer, Dr. Mark Krsistoffer Pasayan, TMCSL’s CREST Director, and Dr. Christa Belle Loring, RED GALA Committee Head

and treatment to prevent the spread of HIV through its Center for Reproductive Health and STI Treatment (CREST). Its continued programs, like the RED GALA, help sustain awareness of HIV, educate the public, and lessen the HIV stigma among the population. For more information on TMC South Luzon’s Center for Reproductive Health and STI Treatment (CREST), please contact TMCSL Customer CareTelephone no. (049) 303 3000; Mobile no. 0920 981 4454

Envoys&Expats BusinessMirror

Thursday, January 8, 2026 B5

envoys.expats.bm@gmail.com

Phil. Embassy in Prague holds forum on WPS/SCS perspectives

HE Embassy of the Philippines in Prague brought realities of the West Philippine Sea/South China Sea (WPS/SCS) to Central Europe via a forum that explained why a maritime dispute thousands of miles away poses a direct threat to the Czech Republic’s economic stability.

Last month’s event titled “Security in the Indo-Pacific” gathered officials, diplomats, experts, academics and students who looked into and discussed recent maritime security developments in the WPS/ SCS, including the relevant international legal framework, namely, the United Nations Convention on the Law of the Sea (UNCLOS), as well as the Czech Republic’s security and economic interests, alongside intersections and alignments involving the Philippines. As keynote speaker, Ambassador Eduardo Martin R. Meñez highlighted the Philippines’ 2016 legal victory against China. An UNCLOS arbitration tribunal ruled that the latter’s expansive “nine-dash line” historic rights claim over the WPS/SCS has no legal basis, and confirmed that areas like the Recto (Reed) Bank, Ayungin (Second Thomas) Shoal, and Panganiban (Mischief) Reef areas, are well within and belong to the Philippines’ exclusive economic zone or EEZ and continental shelf. Meñez also provided a situational

update on the disputed waters, as he noted the escalation of illegal, coercive, aggressive, and deceptive actions by China contrary to international law. He cited specific recent incidents, including the December 12, 2025 water cannon attack by the China Coast Guard that injured several Filipino fisherfolk.

Why should Czechs, others care?

THE Philippine envoy underscored that upholding the award is fundamentally a defense of the UNCLOS, the global legal architecture, as well as an act of strategic self-interest for the Czech Republic due to the WPS/SCS instability’s direct impact on European economic stability and supply chains. He pointed out that an estimated $3.4 trillion in global trade passes through these waters every year. Should a conflict block these shipping lanes, the supply of vital goods like semiconductors needed for the Czech automotive industry could be cut off. David Gardáš, who works as an

AMBASSADOR Evangelina A. Bernas officially receives the AVC chairship from Ambassador Min Thein of Myanmar. DFA

AMBASSADOR Meñez details the binding nature of the 2016 Arbitration Award. DFA

analyst from the Prague-based think tank Project Sinopsis, agreed and explained that the concern is more than just an Asian problem. He detailed systemic challenges posed by China’s “gray-zone” tactics and dualuse infrastructure in the WPS/SCS, as he emphasized that outcomes in the region will influence the future Indo-Pacific security order. Crucially, Gardáš’ analysis also connected the WPS/SCS’ stability directly to European interests, as he noted that the area is a key trade artery for the European Union’s maritime commerce and supply chains. He furthered that Europe must act to uphold the UNCLOS and the bloc’s values against revisionist powers.

Beyond the horizon

PARTICIPANTS welcomed the forum for successfully reframing the WPS/

SCS issue from a distant maritime dispute into a fundamental systemic challenge with direct implications for Czech and European economic and security interests. Presentations and the lively open discussion underscored strong parallels between the Philippines’ principled legal position under UNCLOS, along with the Czech Republic and other like-minded partners’ commitments to international law. Looking ahead, 2026 will mark the 10th anniversary of the 2016 South China Sea Arbitration Award and the Philippines’ chairmanship of the Association of Southeast Asian Nations (Asean). For the embassy, these milestones present valuable avenues to deepen engagement with a broader network of partners and audiences in support of international law toward a free, open, and resilient WPS/SCS and Indo-Pacific.

Taiwan community’s New Yr flag-raising ceremony signals deepening relations

FSI Director General Francisco Noel R. Fernandez III presents a Certificate of Appreciation to Ambassador Nader Zaki. DFA

Egypt’s envoy speaks at FSI’s Lecture Series

HE Foreign Service Institute (FSI) held its 20th Ambassadors’ Lecture Series which featured Ambassador of the Arab Republic of Egypt to the Philippines Nader Zaki. Zaki delivered a lecture titled “Bringing the ‘Grand Egyptian Museum’ to the Philippines: Celebrating 80 Years of Relations and Cultural Ties.” He spoke about Egypt’s history, which he described as a journey that shaped the country’s complex identity—one that has enabled Egyptians to engage with the world with ease. The ambassador formally opened his presentation with a video featuring the recent inauguration of the Grand Egyptian Museum held just a month ago. During the open forum, he emphasized the museum’s significance, as he stated that it is “not only about getting back our treasures from everywhere; it is also about letting Egyptians know more about their identity.” “Because if you don’t know your identity, you are lost. If you don’t know exactly who you are, you cannot play any role in your region, you cannot play any role in the world, you cannot deal with others,” the envoy explained.

He attributed Egypt’s multilayered characteristics to its varied history, including the succession of its pharaonic dynasties, the arrival of Christianity in the first century, the peaceful introduction of Islam, a brief French occupation followed by a period of British rule, and the rise of Pan-Arabism. In addition, he underscored Egypt’s role in the regional peace process, including the signing of the Camp David Accords and the peace summit this year. The FSI initiated the ALS as a platform for heads of diplomatic missions in the Philippines to share their knowledge, priorities, and advocacy. It was opened in November 2023 with former foreign affairs secretary Enrique A. Manalo. FSI is the training and research agency attached to DFA. It was created under Presidential Decree 1060, and its remit was expanded by Republic Act 7157. The Secretary of Foreign Affairs chairs the FSI Board, with the Chairperson of the Civil Service Commission, FSI Director General, as well as the presidents of the University of the Philippines and the Development Academy of the Philippines, as members.

HE Taiwanese business and overseas community in the Philippines marked the New Year with a flag-raising event in Carmona City, Cavite, which it said symbolized “the steady advancement of relations between Taiwan and the Philippines.” The Taiwanese Chamber of the South Philippines (TCSPI) organized the January 1 ceremony, which gathered around 200 participants, including Taiwanese business leaders, community representatives, Taiwan’s Overseas Community Affairs Council (OCAC) volunteer representatives, and local guests. Representative Wallace M. G. Chow of Taiwan said the event reflected the growing momentum in Taiwan–Philippines relations, as he noted that 2025 marked a year of significant progress in bilateral cooperation. He expressed optimism that economic, trade, and people-topeople exchanges would continue to expand in 2026. Chow also highlighted recent developments that have strengthened bilateral ties, such as the expanded official exchanges, visa-free entry arrangements for Taiwanese travel-

ers, and large-scale Taiwanese trade and investment missions to key Philippine economic hubs such as Subic, Clark, and Metro Manila. These initiatives, he said, have laid a solid foundation for deeper cooperation in areas such as manufacturing, logistics, agriculture, and technology. TCSPI president Jeff Yu said the New Year f lag-raising ceremony highlighted the unity and longstanding presence of the local Taiwanese community. He noted that Taiwanese businesses have been operating in Southern Luzon for more than two to three decades, contributing to local economic development while navigating global economic challenges with resilience and adaptability. The event was attended by Taipei Economic and Cultural Office in the Philippines representatives, OCAC volunteers, as well as leaders from major Taiwanese and Fil-Chi business and community organizations across the country attended the event, as they highlighted the active role of the Taiwanese community in strengthening Taiwan-Philippines relations.

PARTICIPANTS gather in front of the ROC (Taiwan) and Philippine flags.

Philippines assumes Asean Vienna Committee chairship

HE Philippine Embassy in Vienna has assumed the Asean Vienna Committee (AVC) chairship during the 64th Ambassadors Meeting of the Committee and Handover Ceremony. Held at the Myanmar Ambassador’s Residence in Vienna in December 2025, the event formalized the transfer of committee leadership to the Philippines starting January up to June 2026. Ambassador Evangelina A. Bernas noted the timely AVC chairship of the Philippines, as the country also begins its similar role in Asean in January 2026. She highlighted its theme: “Navigating Our Future, Together.” It captures the country’s strategic intent to guide Asean through future challenges, championing innovation, resilience, and inclusivity as well as strengthening the association’s three pillars in building a rules-based, stable, innovative, meaningful, and peoplecentered region. “Our chairmanship on the AVC will be guided by these priorities focusing on the three Asean Com-

munity Pillars,” Bernas said. “We will also build on the excellent work of my predecessors in increasing the visibility of Asean in Vienna, enhancing the cooperation with our Austrian partners and promoting Asean’s interest and priorities.” Under its chairship, the Philippines aims to undertake initiatives that will enhance political, economic, and people-to-people exchanges between Asean and Austrian partners. These activities include engagements with Austrian officials, UN officials, chambers of commerce, academia, as well as visits to Austrian companies. The AVC is composed of the heads of mission of Asean member states accredited to Austria and the United Nations international organizations in Vienna: Indonesia, Lao People’s Democratic Republic, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. The committee conducts activities which aim to promote Asean and its interests in the European country, as well as enhance cooperation with Austrian stakeholders.

PHL and Uruguay mark 50 years of two-way ties

AMBASSADOR Grace T. Cruz-Fabella (center) and Minister Counsellor Juan Pablo Wallace (right) at the floral offering DFA

HE 50th-anniversary celebration of the Philippines and Uruguay’s diplomatic relations commenced on December 29, 2025. A mba ssador Grace T. Cr u zFabella led a floral offering at the monument of General José Artigas in Montevideo. It was followed by a breakfast reception with Uruguayan government officials and members of the Filipino community. Among the guests who joined the ambassador at the offering were Diputado Dr. Conrado Rodriguez and Diputado Luis Marcelo Perez of the Cámara de Representantes; Ambassador Martín Vidal, Ambassador Fernando Lugris, Ambassador Federico Perazza, and Minister Counsellor Juan Pablo Wallace of the Uruguay Ministry of Foreign Affairs; Director General Marcel Suárez of the Comisión del Patrimonio Cultural de la Nación; and Captain Pablo Laborde who serves as the Edecán Naval of

the Uruguay Navy. Last year, both countries achieved several significant milestones in their mutual relations. Notably, the Philippines hosted the inaugural Bilateral Consultation Mechanism meeting in Manila in November 2025, which marked a key step in institutionalizing dialogue between the two countries. The country also recently announced the opening of its market to Uruguayan beef exports, following the granting of import accreditations to 22 meat establishments. In coordination with Philippine Consul a.h Anna Maria Zosa, the strengthening of bilateral relations remains a priority as both countries agree to broaden cooperation across a wide range of areas spanning agriculture, consular affairs, sports, education, culture, and renewable energy. The Philippine Embassy to Argentina has jurisdiction in the Oriental Republic of Uruguay.

B6 Thursday, January 8, 2026

Holiday cheer, year-round wealth: Your 2026 financial prep list

Aboitiz Renewables wins safety awards at DOE-SHAPES conference T

boitiz Renewables, Inc., the renewable energy arm of Aboitiz Power Corporation, received multiple recognitions at the 20th Energy Safety, Health, and Environment Conference by the Safety and Health Association of the Philippines Energy Sector (SHAPES) and the Department of Energy. The awards reflect zero workplace incidents in multiple renewable energy facilities spread across the country.

Five Aboitiz Renewables facilities were honored for achieving sustained “Zero Lost Time Incidents:” the Tiwi Geothermal Plant in Albay for 16 years, Hedcor Sibulan, Inc. – Tudaya in Davao del Sur for 11 years, San Carlos Sun Power in Negros Occidental for eight years, the Makban Geothermal Plant in Laguna and Batangas for seven years, and Hedcor Bukidnon, Inc. in Manolo Fortich for four years. “These numbers represent thousands of hours of safe shifts where our team members returned home safely to their

The Tiwi Geothermal Plant located in Albay (left) and Hedcor Sibulan – Tudaya in Davao del Sur (right) were among the Aboitiz Renewables facilities that were recognized in the 20th Energy Safety, Health, and Environment Conference for achieving sustained “Zero Lost Time Incidents”. families,” said Aboitiz Renewables Chief Operating Officer Alexander Coo. “Safety is not just a priority for us; Safety, Health, and Environment or SHE is in our DNA. We encourage everyone to remain vigilant and continue strengthening our practices across all operations.” The conference also recognized five “Outstanding Safety and Health Professionals” from Aboitiz Renewables: Tiwi Geothermal Plant Safety, Health, and Environmental Manager Jim Rey Recierdo; Hedcor Sibulan Occupational Safety and Health Supervisor Annie Rhie Esguerra; San Carlos Sun Power Grid Manager Dave Pinote; Makban Geothermal Plant Safety, Health and Environmental Manager Jud Torres; and Hedcor Bukidnon Resource Supervisor Brian Gam. During the conference, Aboitiz

Renewables showcased its SHE programs to fellow energy companies in the Philippines, sharing best practices and insights with other industry players. These programs include the “Electronic Permit-to-Work” (e-PTW) system, an inhouse digital platform that helps eliminate paperwork errors; the “Workplace Activities Targeting the Control of Hazards” (WATCH) App for mobile hazard identification; the “HealthyMe, HealthyAPRI” framework for occupational health monitoring; and the “KAISA” program that aligns contractors with safety standards. Aboitiz Renewables’ safety culture is anchored on the principle: “Make it Safe. Make it Personal. Make it Home.” This principle emphasizes personal responsibility and vigilance in maintaining a zero-incident workplace.

Robinsons Hotels and Resorts Named ‘Best Hospitality Developer (Asia)’

Mybelle V. Aragon-GoBio, Robinsons Land Corporation President and CEO (center) and Barun Jolly, Senior Vice-President & Business Unit General Manager of Robinsons Hotels and Resorts (right), receive the “Best Hospitality Developer” award for Robinsons Hotels and Resorts at the 2025 PropertyGuru Asia Property Awards Grand Final ceremony held in Bangkok, Thailand.

OBINSONS Hotels and Resorts (RHR), the hospitality arm of Robinsons Land Corporation (RLC), clinched the coveted title of Best Hospitality Developer in Asia at the 20th PropertyGuru Asia Property Awards Grand Final ceremony held in

Bangkok, Thailand. “We are profoundly honored to receive the Best Hospitality Developer (Asia) award from the PropertyGuru Asia Property Awards, Asia Pacific’s most respected real estate awards program,” said Barun Jolly, Senior Vice President & Business Unit General Manager of Robinsons Hotels and Resorts. “This recognition is more than an achievement for Robinsons Hotels and Resorts—it’s a proud moment for the Philippine hospitality and tourism industry. The Best Hospitality Developer award celebrates not only our commitment to quality and innovation but also the collective progress of the country’s tourism sector. It signals that the Philippines is emerging as a key player in the global hospitality landscape, with homegrown brands and industry leaders working together to raise standards and deliver world-class experiences,” he added. The win is a strategic milestone for RHR’s parent company, Robinsons Land Corporation, which is celebrating its 45th anniversary this year. “As we celebrate 45 years of ‘Building Better Lives,’ being named Best Hospitality Developer (Asia) is a milestone of great significance for Robinsons Hotels and Resorts and the entire Robinsons Land Corporation,” said Mybelle V. AragonGoBio, RLC President and CEO. “This regional recognition affirms the excellence of our hospitality team

and showcases how our vision of nationbuilding through thoughtful, peoplecentered development resonates on the global stage. At its core, this honor reflects our commitment to champion and showcase Filipino excellence, grounded in a deep understanding of the needs of our guests and communities. This collective achievement inspires us as we continue delivering world-class Filipino hospitality,” she added. Robinsons Hotels and Resorts has established one of the widest geographical hotel presences in the Philippines, driven by a portfolio that combines distinctive homegrown concepts with strategic international partnerships. Its home-grown brands include NUSTAR Hotel Cebu (ultra-luxury), Fili Hotels (5-star), Grand Summit Hotels (upscale), Summit Hotels and Resorts (mid-scale), and Go Hotels and Go Hotels Plus (Essential Value). Rounding out its distinguished portfolio are celebrated international brands Crowne Plaza Manila Galleria, Holiday Inn Manila Galleria, Dusit Thani Mactan Cebu, and The Westin Manila. Driven by this success, Robinsons Hotels and Resorts is further expanding its local brands, focusing on the upscale segment. New additions, including Summit Villas Siargao, Fili Hotel Bridgetowne, and Grand Summit Pangasinan, are slated to open in the next two years.

HE air is crisp, the lights are bright and twinkling, and the festive cheer is palpable and contagious. Yes, it is that time of the year and there is reason to celebrate. For many, the end of the year is a time for celebration, winding down, and spending precious moments with family and friends. But before you get swept up in the holiday joy, it is also time to ask yourself: are you ready to face the coming year, finance-wise? While tackling budgets and finances may seem to clash with the joyful holiday vibe, it’s actually the opposite. Preparing yourself before the year ends will allow you to tackle the coming year more confidently, making the holiday celebrations even more joyous and vibrant! Wouldn’t you be happy knowing that you can face 2026 strategically? Setting a financial plan for the new year may be the best gift you can give yourself during the holidays. Here is a basic financial planning checklist to help you end the year strong and start 2026 on the way to financial success: Revisit your financial wins and lessons learned. Take a hard look at your spending habits from the past year. What did you spend the most on and did you really have to spend that much on them? Did you stick to your budget? Where does your money really go? Understanding how you spend your money is also a solid foundation for setting a realistic and more effective budget for 2026. Recalibrate your budget around what truly matters. Make room for a meaningful year. Allocate for things that enrich your life - whether that’s fitness, creative pursuits, family travel or self-development. Rather than simply tracking obligations, rework your finances to align with your purpose and passions. Secure your future. As the year ends, be sure to refill your emergency fund to hold three to six months’ worth of expenses. This ensures you can cover unexpected costs like medical bills or repairs without relying on debt or longterm savings. Up your insurance. Review your insurance policies to determine if you need to increase coverage and ensure all beneficiary designations are up to date. If you don’t have insurance (for instance, if your job does not offer health insurance coverage), use this

time to shop for options that will fit your specific health needs. Plan for your Passion Projects. Your passion deserves a place in your financial vision. If 2026 includes major anticipated expenses like a wedding, home purchase, or long-planned vacation, integrate these big-ticket items into your new budget now and start setting aside funds immediately. Explore investment opportunities. Updating your financial goals means assessing if your current sources of income align with what you want for the future. And now is the best time to think about your future. To truly elevate your wealth and finance strategy, consider joining a premier financial club especially if you want to explore investments. These clubs often grant members first crack at curated investment options and offer numerous financial benefits that can accelerate your progress. Planning for 2026 is more than just organizing your finances. It’s about creating the freedom to live boldly and meaningfully. By doing these things, you set the stage for a year defined by clarity and confidence. And with the support of RCBC’s Hexagon Club that offers personalized guidance, exclusive perks and privileges and expert insights, you can pursue your goals with even greater momentum. Benefits include priority service, dedicated relationship managers who can help you plan and manage your investments, and special rates on loans and deposits—perks that can help you prepare for 2026 and years to come. Currently the 5th largest privately owned bank in the Philippines and with a recognition for Best Bank for Customer Experience, RCBC remains committed to supporting you all the way. With thoughtful preparation and RCBC as your partner for your passion, by your side, 2026 can be the year you thrive. Visit https://www.rcbc.com/ hexagon-privilege to find out how the RCBC Hexagon Club can help you.

ASUS Republic of Gamers Presents Next-Gen Gaming Innovations at CES 2026

SUS Republic of Gamers (ROG) has announced its Dare to Innovate virtual event at CES 2026, unveiling the next chapter of its vision for gaming performance, design, and culture. The showcase celebrates 20 years of fearless innovation, highlighting breakthrough technologies that empower gamers and creators, while reinforcing ROG’s commitment to redefining gameplay, creation, and competitive performance worldwide. A wide range of next-generation technologies across ROG’s gaming ecosystem is on display, including laptops, desktops, motherboards, and peripherals, all engineered with world-first features and advanced capabilities that elevate performance and immersion. On this 20-year milestone, ROG reflects on a legacy defined by bold concepts, pioneering engineering, and an unwavering dedication to its global community. From the groundbreaking

Crosshair motherboard in 2006 to today’s cutting-edge gaming platforms, every milestone embodies the spirit of “For Those Who Dare,” a commitment to challenging conventions and redefining what gaming hardware can achieve. Continuing this legacy, the ROG Lab embodies the heart of ROG’s experimental spirit, transforming ideas into tangible breakthroughs. This

year’s showcase unveiled engineering advancements from the Lab, combining performance, thermal mastery, and user-focused design to elevate how gamers play, create, and connect. ROG also extends its influence beyond technology into culture through global co-branding partnerships that merge gaming with music, fashion, art, and entertainment. Collaborations with creators and iconic franchises, including Kojima Productions, empower players to co-create within a growing, crossdomain ecosystem, reinforcing ROG’s role in shaping gaming identity and community worldwide. ROG remains committed to pioneering the future of gaming, transforming daring visions into experiences that inspire every player to push beyond boundaries. Attendees at CES 2026 in Las Vegas can explore the latest ROG creations firsthand at The Venetian Expo, Level 3, San Polo #3403, from January 5 to 8, 2026.

Vista Land Group Head for North Luzon and Mega Manila, Ailene Sarmiento, led the successful conclusion of Advancing Our Momentum in Real Estate event through a ceremonial toast.

Camella in North Luzon Advances Regional Real Estate Development with ‘Momentum’

AMELLA concluded its “Advancing Our Momentum in Real Estate” regional event, inviting investors and business partners from North Luzon and Mega Manila. Camella highlighted its sustained strength in economic epicenters, showcasing its latest offerings, and affirming its mission to create communities where Filipinos can be proud. The program opened with a message from Vista Land Group Head Ailene Sarmiento, who emphasized the company’s streamlined strategies. A key segment examined the rising relevance

of multigenerational living in the Philippine market, driven by shifting household dynamics, followed by an introduction to Camella’s premium model homes, showcasing flexible configurations, extensive layouts, and functional living spaces, reinforcing their value as long-term homes. The event reinforced shared goals and regional market understanding, and equipped attendees with the tools to improve sales performance. Learn more about Camella developments. Visit www.camella.com. ph and follow @CamellaOfficial.

www.businessmirror.com.ph • businessmirror.lifestyle@gmail.com

Parentlife BusinessMirror

Editor: Gerard S. Ramos • Thursday, January 8, 2026

The joy and adventures of parenthood

HAVE been a mom for almost two decades now—four, if I count my “firstborn” younger sister I helped care for when I was 10. My journey has been many things at once: noisy and loving, exhausting and warm, chaotic and full of laughter. It has been anxious, gratifying, and imperfect to say the least. But every doubt has asked something new of me, and each trial-and-error has given back more than I expected. I did not enter motherhood lightly. My own family history—my parents’ own woes, our intense dinnertable debates about work, and my early experiences of feeling both loved and pressured—made me anxious about repeating patterns. I worried: Would I be too strict? Too lenient? Would I measure my children’s worth with academic accolades? These fears made me read countless books, attend talks, and reflect on my childhood stories—from being punished at the Little Green School washrooms to my “box” of academic awards. Yet in the midst of all this, I have been very blessed with a husband who listens, balances my intensity with calm, and believes that our children need more presence than perfection. Motherhood’s joys often come in small, unplanned scenes. The day my kids “rearranged” my office to pretend it was an airplane—my son the pilot, my daughter the passenger with McDonald’s fries and drinks—reminded me that work and home can thrive together. There are the quiet nights when my daughter gives me a heart-to-heart hug, or the one-on-one meals when my son would share his own failures and growth moments, like missing an award and choosing to adjust his habits I have watched my daughter move from staring at the ceiling during math to joining contests, thanks to teachers and tutors who dared to try new ways of teaching. I have seen them discover art, biographies of basketball giants and world leaders, and their own Aristotelian “mean” between

chaos and order. These are truly my everyday miracles. The challenges are real. Being a working mom demanded years of recalibration. I had to unlearn my obsession with flawless results, make peace with my children’s different ways of accomplishing tasks, and resist the urge to judge their views on things. It is

inevitable to worry about how our children are doing in school, the friendships they foster, and especially their health. Yet along the way, I discovered it was a journey of being hand-in-hand with my children— that it is okay to follow my children’s lead at times... that it is okay to let them fail, and treat each struggle as them writing their own story.

Stepping back from my own home, I also see how the world around us is changing. Globally, birth rates are declining: countries like South Korea, Italy, Spain, Japan, and even China now have fertility rates well below the replacement level of 2.1 children per woman. The Philippines, while still higher, has also seen its fertility rate steadily drop over the past decade. Couples today weigh financial pressures, career aspirations, mental health concerns, climate anxiety, and the desire for freedom before deciding to have children. Many married couples choose to remain child-free because they fear the cost and responsibility, as well as wanting to focus on personal growth or caregiving for aging parents. I understand these reasons. Parenting is not a requirement for a meaningful life. But my hope is that those who quietly long for children yet fear the unknown might also glimpse the profound joy parenthood can bring their lives—not because it is easy, but precisely because it is not. Motherhood turned my life into an ongoing adventure I look forward to. It has become my strength in the toughest of situations. More importantly, my children have given me the best laughs and memories that make me love life a lot more. Every hug and kiss from our children is incomparable. No award, promotion, or perfectly checked todo list feels the same as a sleepy “Mom, I love you,” or your college daughter choosing to bring you to her favorite places overseas. The memories you build with them are living proof how our unconditional love props their dreams, and inspires them to do better. To parents reading this—whether your children are toddlers, teens, or already adults—may you find comfort in knowing that each one of us have our own unique script of parenting. Our histories, with all their pressures and pains, can become fuel for more compassionate choices. The declining birth rate reminds us that raising a child is a courageous decision in today’s world. If you have taken that leap, cherish it. If you are still discerning, allow yourself to imagine not just the sacrifices but also the laughter, the loving journey, and the healing of your own inner child through the way you love. Parenthood will stretch you. Yet in the stretching, something quiet and steady grows: a heart that is larger than its fears. And that, for me, is the enduring joy of parenthood—an unfinished story that keeps inviting us to begin again, in the most perfectly imperfect way possible.

Volunteering with children can build character and create lasting family memories By Cathy Bussewitz The Associated Press NEW YORK—When Cami Teacoach’s son turned three, she set out to find volunteer opportunities they could do together. He made Valentine cards for senior citizens. They hiked and picked up trash. He helped harvest produce at community gardens and made seed balls out of mud, throwing them into the forest to promote wildflower growth. Teacoach had reached out to many organizations looking for volunteer projects that she could do with her young child, but most places said no, so she came up with her own. “Everyone was like, ‘A 3-year-old can’t do that,’” Teacoach said. “And I was like, ‘No, I swear, he really can if you would just give him a chance.’” Volunteering with children can instill confidence in youngsters, teach social and problem-solving skills, and provide unique ways for families to bond. During the holiday season, many people seek such opportunities, looking for ways to give back. But often nonprofit organizations seek helpers who are at least 18 years old. Finding volunteer work to do as a family with young children can be challenging, but there are opportunities, if you persist. “There’s a million different ways to help people and volunteer. So many families want to do this and literally just don’t know where to start,” said Polly Lagana, executive director of Volunteer New York!, which connects people with service opportunities. “In a turbulent time in our world, families—and parents in particular—are very interested in showing their kids how they can help out and how they can give back.” Children excel at activities such as sorting coats, packing groceries and following through on tasks, said Sapreet Saluja, executive director of New York Cares, which works with organizations to develop volunteer programs in New York City. “I’ve been very impressed with the detailorientation and the precision and the following of directions and the care that some kids I’ve seen, as young as six, take to the tasks that they’re doing,” Saluja said. “It’s been explained to them that this is to benefit someone, and it’s important, and they’re following the directions and they want to get it just

right. And in many cases, they’re more detail-oriented than the adults, which I think is very inspiring.” To get started, look for organizations in your community that match volunteers with familyfriendly projects and reach out to ask if there’s a minimum age requirement. Here are some other ways to involve little ones in projects that help the community.

PROVIDE CHOICES

CHILDREN prefer to have agency and information to make a decision, so include them when you’re choosing an activity, Lagana said. “Let them know what problem you’re trying to fix in your community, and maybe one or two options of how that problem can be fixed,” Lagana said. For example, you can explain there are people who don’t have enough food, and children in the hospital who might not have blankets, and then ask, “Which one do you think you want to help out with?” she suggested. Consider volunteering for a mission that you can explain to your child, such as cleaning up litter at a park. “Kids are unbelievably curious. They ask questions about what they’re doing, what they’re seeing, what they’re feeling, what they’re hearing, and it opens up a dialogue,” Saluja said. “It helps you see even at a young age some of the challenges that society is facing and it gives you agency to know that you can be a part of the solution.”

SHARING FOOD

CHILDREN understand hunger, and they can help alleviate the problem. They can sort grocery boxes at a food pantry or help deliver sustenance to home-bound individuals. Aviva Davis was about eight years old when she and her brother Brendan began helping her parents deliver Meals on Wheels to senior citizens and medically frail individuals in Denver. Initially, they rode in the car with their parents and helped bring food to the door. When they were older, they took turns driving. “It definitely opened my eyes to what the world is like outside of our bubble. We saw all sorts of different things and I saw not everyone lives the same way,” said Davis, now 17. “But even at such a young age, I could realize it’s amazing what we’re doing that we

could help people that aren’t as lucky as we were.” Davis became a resource at school for fellow students looking to volunteer. She still does monthly meal deliveries with her parents. “It’s a great chance for us to catch up as a family,” said her father, Seth Davis. “When we’re not all on our phones, you get some pretty cool quality time.” Her brother is now in college, but when he’s home, they do deliveries altogether. “The older they get, the harder it is to get that time together,” said their mother, Bonnie Davis, who found the Meals on Wheels opportunity after extensive research.

CREATE YOUR OWN OPPORTUNITIES

WHEN Teacoach couldn’t find organizations willing to accept her toddler, she started a group in Pittsburgh called VolunTOTs, which creates service opportunities for children as young as 3. The children and their parents pack 500 boxes of groceries to distribute to families in need, play bingo with seniors in nursing homes and make dog treats for an animal rescue center, among other projects. Parents have told Teacoach their children’s conduct improves after volunteering. “They feel so good about themselves, they were a helper, and that translates into better behavior,” she said. Stephanie Bernaba’s family started “Tough Cookies,” a project where they bake and deliver cookies to veterans, when her son Matthew was in eighth grade and had to complete a service project for school. “Going up to the houses, it was very nice, because they’re mostly living alone. A lot of their family or friends died,” said Michael Bernaba, 14, now a freshman at The Prout School in Wakefield, Rhode Island. “It’s just nice to be there and bring it to them ... They were very happy, especially for someone to bring them treats like that.” The project also helped the teens learn social skills and meet people in various stages of life and health conditions, Stephanie Bernaba said. “We went to the first couple of places and I was really scared, because I’m more of a shy person,” Matthew Bernaba, now 15, said. “For the first couple of deliveries I was more to myself, and as we kept going, we talked more with the veterans and got to hear great stories from them.”

FRIENDS MAKE IT FUN

CHILDREN can be more willing to try new activities with a buddy, so consider signing up with people you know. You can also connect with a nonprofit in need of a service and invite other families over to do a project together, as Lagana’s friends have done, organizing clothing donations or assembling snack packs in living rooms. Bonnie Davis organized a drive for menstrual supplies, and families gathered in her backyard to assemble the baskets. She also turned half of her son’s graduation party into a volunteer project assembling kits of bean soup. “It’s a win for everybody. You get quality time, you’re raising your children with what feels like good values, and people benefit,” she said.

PHOTO BY HILLARY UNGSON ON UNSPLASH

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B8 Thursday, January 8, 2026

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Blockbuster season for PHL golf this 2026 T

PBA FULLY SUPPORTS PSC

Philippine Basketball Association Commissioner Willie Marcial pays a courtesy call on Philippine Sports Commission chairman Patrick “Pató” Gregorio on Tuesday and assures the league’s continued cooperation as well as strengthening ties with the sports agency. PBA IMAGES

Paalam eyes major comeback this year By Josef Ramos

OKYO Olympics silver medalist vows for a major comeback atop the ring this year after failing to make the podium at the Paris 2024 Olympics and missing the Thailand 33rd Southeast Asian Games last month after falling ill before the competition. “I’m back in full training,” said Paalam, 27, who’s now shifted his training base in his native Cagayan de Oro City. “I’m hoping to compete in three major events this year—all for my desire to return to the Olympics for another shot at a medal in Los Angeles 2028.” Paalam marked on his calendar the World Boxing World Cup—the venue and date has yet to be announced by the new world boxing body— Asian Championships in Ulaanbaatar (Mongolia) from March 28 to April 11 and the Aichi-Nagoya 20th Asian Games from September 19 to October 4 in Japan. Paalam’s long-time coach and discoverer, Elmer Pamisa, is closely monitoring his training. “Coach Elmer is doing everything to hone my boxing skills. We’re familiar with each other,” said Paalam, an Asian championships gold medalist in 2022. Paalam clinched silver in Tokyo as a flyweight or 51 kgs, shifted to 57 kgs

where he obviously struggled and is now at 55 kgs or bantamweight this year. “I can do it at 55 kgs, but no longer at 53 kgs or below,” he said. “At 55 kgs, my punching power and speed, timing and composure have improved a lot. So, I guess that will be my weight class this year.” Paalam’s training camp is located at uptown Lumbia in Cagayan de Oro with most of his national teammates at the Association of Boxing Alliances (ABAP) in the Philippines are in the Philippine Sports Commission facility inside the Teachers’ Camp in Baguio City. The Olympics, Paalam said, remains on top of his priorities. “That’s the goal and I’m so happy that the ABAP is incredibly supportive of my Olympic dreams,” said Paalam, who’ll be 30 in LA 2028. “I will not stop until there is no Olympic gold medal.”

Horse power

APPY New Year! It’s the Year of the Horse. Are we to expect more galloping inflation, more horsetrading in the halls of Congress and more people getting on their high horse for the next 12 months? Horse sense tells us to just go with the flow of this special year that starts on February 17 and ends on February 5, 2027. Horse years are energetic, intense, passion-filled years—a year seemingly cut out for sports and sportsmen. Did you know that among the 12 animal signs of the Chinese zodiac, the animal most associated with sports is the Horse? This 2026 in particular is a special Horse Year. It is the Year of the Fire Horse—an occurrence that happens only once every 60 years. The next Fire Horse Year will be in 2086. (How old will you be by then?) The last Fire Horse Year was 1966. True to its reputation as a dynamic, swashbuckling year, it produced notable Pinoy athletes who incidentally made up one of the most impressive Philippine Basketball Association (PBA) rookie drafts in the late 80’s. Four-time PBA Most Valuable Player (MVP) and 12-time All-Star Alvin Patrimonio (also known as “The Captain,” Jerry Codiñera (known as “The Defense Minister”), coach and noted sports analyst Ronnie

Magsanoc (called “The “Point Laureate” during his playing years), Eric Altamirano, also known as Coach E and founder of the National Basketball Training Center (NBTC), Gerry Esplana (a former PBA Rookie of the Year known as “Mr. Cool”) and Jayvee Gayoso (aka “Mr. Adrenaline”) are all Horses born in 1966. All have distinguished themselves as outstanding cage talents in the different teams that they played for in their amateur and pro basketball careers. Even compleat sportsman, now congressman, Richard Gomez—who excelled in fencing, rowing, sports shooting, volleyball and basketball—was a 1966 baby.

Do you want to meet more Horses?

BASKETBALL legend Kobe Bryant (1978) was a Horse. His amazing work ethic, super human mental toughness (Mamba Mentality) and constant drive to be the best distinguishes him as one of the thoroughbreds of the Horse sign. Dirk Nowitzki is a Horse. As are Shawn “The Matrix” Marion, Jamaal Magloire, Stephen Jackson, Brian “The White Mamba” Scalabrine, Ken Johnson, Malik Allen and Chris “The Birdman” Andersen all born in 1978. Also in the National Basketball Association, Damian Lillard, Paul George, Klay Thompson, Draymond Green, DeMarcus Cousins, John Wall, Ricky Rubio and Seth Curry are Horses born in 1990. They are talented, spirited alpha horses, who display strength, leadership and assertive energy. In other sports, heavyweight boxer Mike Tyson (1966) is a Horse as well. And so is the most kinetic

WO rich tournaments stacked with elite local and international talent will usher in what promises to be one of the most compelling seasons in the country’s golf history as the Philippine Golf Tour (PGT), Ladies PGT and the ever-growing Junior PGT roll out their 2026 calendars. While the opening salvo may come from the professional ranks, what could ultimately define the year is a sustained structural leap for the sport—the second edition of the International Container Terminal Services Inc. (ICTSI) Intercollegiate Tournament which blasts off on April 26 at Splendido Taal. The partnership between Pilipinas Golf Tournaments Inc. (PGTI) and the Philippine Golf Foundation (PGF) represents another watershed moment for Philippine golf. Buoyed by the resounding success of its inaugural edition last year, the collaboration thrusts collegiate golf into the national spotlight, aligning it with the prestige, organization and competitive rigor long associated with elite college golf. DEFENDING champion Gwon Minwook is expected to return after his stunning breakthrough win last year while Angelo Que looms as a central figure in the title hunt. PGT PHOTOS

Before collegiate golf takes center stage, the professionals will set the tone. The PGT opens its season from January 27 to 30 with its flagship event, the P6 million The Country Club (TCC) Invitational in Laguna. Held in honor of ICTSI founder Don Pocholo Razon—himself an avid golfer—the event has become synonymous with drama, depth and downthe-wire finishes. Defending champion Gwon Minwook is expected to return after his stunning breakthrough win last year, where the 23-year-old Korean edged two-time champion Guido van der Valk in a sudden-death playoff right in his tournament debut. Van der Valk, however, is back with unfinished business, still chasing a third TCC Invitational crown—a feat achieved only by Angelo Que and Juvic Pagunsan. Que himself looms as a central figure in the title hunt, riding the momentum of his first-ever Order of Merit crown last season, highlighted by victories in the opening two legs and a string of Top-5 finishes. A fourth TCC Invitational title would further cement Que’s legacy. As always, the chase is expected to be fierce with Keanu Jahns, the only three-leg winner last season including the Match Play Championship, leads a

deep cast of contenders among them Fidel Concepcion, Rupert Zaragosa, Reymon Jaraula, Clyde Mondilla and former champion Tony Lascuña. The spotlight then shifts to the women as the Philippine Ladies Masters takes center stage from Febeuary 4 to 6. The second edition of the $200,000, 54-hole tournament will again attract a formidable international field, featuring standouts from the Thailand and Taiwan Ladies Professional Golf Association (LPGA) and Korean Dream Tour, alongside the LPGT’s top players and rising stars, and those from Malaysia, Singapore, Indonesia and Japan. Defending champion Kim Kayoung of Korea is expected to return, but the locals are eager to protect home turf especially with a key change in venue. This year’s tournament moves from the TCC to the Summit Point Golf and Country Club in Lipa City, adding a fresh strategic dimension and an extra layer of unpredictability. Meanwhile, the PGT Qualifying School is set March 24 to 27 at Splendido Taal Golf Club, followed immediately by the opening legs of both the PGT and LPGT regular seasons, also from March 24 to 27 at Riviera Golf and Country Club in Silang, Cavite. Junior golf, on the other hand, takes center stage from April 7 to 9 at Summit Point, but with a retooled and more student-friendly calendar.

Ceccarelli vies inspired in Milano MAVERICKS ESCAPE ACT

Dallas forward Anthony Davis yells back towards a group of fans after the Mavericks beat the Sacramento Kings, 100-98, in their National Basketball Association game Tuesday in Sacramento. Davis has 19 points and 16 rebounds for the Mavericks, who trailed 98-97 when Brandon Williams hits a 3-pointer for the go-ahead. AP

and most daring action star of all, Jackie Chan (1954), a martial artist. Back in the Philippine basketball scene, the Horse Parade includes Gary David, Sunday Salvacion, Dennis Miranda, Rome de la Rosa, Rodney Brondial, Jovit dela Cruz, Joseph Sedurifa, Carlo Lastimosa, Roi Sumang, Yutien Andrada, John Pinto and Norbert Torres. But hold your horses, do you know the most illustrious Horse sportsman of all? Yep, it’s Manny Pacquiao—the only eight-division world champion, the only boxer with world championships spanning four decades, worldrenowned Pinoy boxer who was inducted into the International Boxing Hall of Fame in June 2025. Pacquiao’s a Horse and the most storied of them all. So what should we all expect of Horse Year 2026? Like the Horse, this year’s energy will be fast-paced, intense and action-oriented. Like the Horse, we probably won’t like being reined in or controlled with our guilty pleasures and impulsive tendencies. The challenge therefore is for us to be mindful and level-headed about our goals and duties. We should balance our tendencies to leap before we look with mindfulness, fact-checking and self-awareness. The year encourages adventure and bravery, action, freedom and dynamism. Those born in the Year of the Horse 1954 (Wood Horse), 1966 (Fire Horse), 1978 (Earth Horse), 1990 (Metal Horse) and 2002 (Water Horse) will have extra adrenaline for themselves and everyone in their circle. People born in Horse Year are described as energetic, independent, hardworking and popular, traits that are clearly seen in successful athletes and performers. This will be one heck of a lucky and whirlwind year for Horses, according to feng shui experts. Sanaol.

RANCIS CECCARELLI will have twice as much support when he makes his Olympic debut at Milano Cortina 2026. The Alpine skier has the unique privilege of competing in one of his home countries, Italy, while representing another home nation, the Philippines.

Ceccarelli was born in Quezon City before being adopted by Italian parents and moving to Italy at the age of eight. The Olympic Solidarity athlete is the first Filipino to earn a quota spot for the Olympic Winter Games in February and the 22-year-old is also set to become the fifth Olympic Alpine skier from the Philippines. “Since I started skiing, my Filipino identity has always been with me,” Ceccarelli told Olympics.com. “It represents where I was born and where I’m from. It was a goal for me to ski for the Philippines, because it is not every day that we have a Filipino athlete skiing at international level.” Ceccarelli, who lives in Abetone in Tuscany, has been competing under the Filipino flag since 2023, a move made in anticipation of Milano Cortina 2026. Ceccarelli also told Olympics. com that he’s not scared to make his Olympic debut and how he’s inspired by Francesco Totti and Manny Pacquiao—Totti is a prolific goalscorer who’s the second all-time highest scorer in Italian soccer league history and the seventh highest for his country in all competitions. Following in the snow prints of Ben Nanasca and Asa Miller, it is now time for Ceccarelli to represent the Southeast Asian nation on the Olympic slopes. Nischal Schwager-Patel, Olympics.com CECCARELLI is not scared to make his Olympic debut. FACEBOOK PHOTO

Taekwondo general assembly up

HE Philippine Taekwondo Association (PTA) will be holding its annual National Instructors General Assembly on Sunday to chart a course for the continued growth of the sport with focus on forming formidable national team for a number of important international events this year. The PTA, one of the most successful national sports associations in last year’s 33rd Southeast Asian Games in Thailand after producing 14 medals— two of them golds—sees more than 1,000 certified instructors to converge at the Ninoy Aquino Stadium. Besides affiliated PTA national instructors, also expected to attend are the Regional Management Committee chairmen and the top guns of the Phil-

ippine National Police and the Armed Forces of the Philippines. Also up for discussion are the national and regional development programs and the national and international competitions, such as World Junior Taekwondo Championships in Tashkent, Asian Championships in Ulaanbaatar and World Poomsae Championships in Chuncheon, Korea. They are also looking forward to competing in the World Taekwondo GP Series in Rome, Asian Games in AichiNagoya and the Asian Indoor Martial Arts Games in Riyadh. Registration starts at 9 a.m. followed by a practical review of new Poomsae rules and Referee Hand Signal. Agenda proper begins at 2 p.m.