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Amid rate cut expectations, peso slides further By Reine Juvierre S. Alberto

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IRAN CLOSES AIRSPACE TO COMMERCIAL AIRCRAFT FOR HOURS AS TENSIONS WITH US REMAIN HIGH

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HE Philippine peso hit another record low on Thursday, closing at P59.46 per dollar, as the resilient United States economy kept the greenback firm. The peso closed at P54.46 against the US dollar, down by two centavos from Wednesday’s historic low finish of P59.44. Data from the Bankers’ Association of the Philippines (BAP) showed the local currency opened at P59.43 per $1. Its intraday high was at P59.35, while it traded at its worst at P59.47. Trading volume increased to

$1.079 billion from the previous day’s $951 million. A trader said the peso fell further after new data releases showed that producer inflation and retail sales reflected the resilience of the US economy, which further supports the case for the US Federal Reserve to hold key rates in the coming months. “The local currency might continue to depreciate as statements from several Fed officials could solidify views of more cautious rate-cutting pace of the US central bank this year,” the trader said. At home, Rizal Commercial Banking Corporation Chief Economist Michael L. Ricafort said markets are anticipating the Bangko

Sentral ng Pilipinas (BSP) to reduce the policy rate by 25 basis points in February. Despite this, Ricafort said BSP Governor Eli M. Remolona Jr. had stressed that the central bank prevents sharp peso depreciation and signaled that the monetary easing cycle is nearing its end. Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co., said the peso weakened anew as rate cut expectations put pressure on the local currency. Ravelas said the peso could range within the P59.250 to P59.50 levels in the near term. Meanwhile, Ricafort said the greenback is stronger against major currencies, including the Japa-

nese yen, due to potential snap elections in Japan, as well as the China-Japan tensions over Taiwan. World gold prices also hit a new record of $4,642.98 per ounce on January 14, 2026, as geopolitical risks in Iran and Venezuela, concerns over the Fed’s independence and rising oil prices, Ricafort added. Oil prices reached two-month highs after US President Donald Trump announced a 25-percent tariff on goods from countries buying Iranian oil, raising fears of a renewed trade conflict with China, which imports about 90 percent of Iran’s crude, Ricafort said.

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11-MONTH REMITTANCES EXPAND 3.2% TO $32.11B www.businessmirror.com.ph

Friday, January 16, 2026 Vol. 21 No. 96

P25.00 nationwide | 2 sections 20 pages | 7 DAYS A WEEK

BRAVE PIONEER Aboitiz Economic Estates and Tsuneishi Heavy Industries on Thursday marked the start of the maiden voyage of M/V Brave Pioneer, the world’s first methanol-powered Kamsarmax bulk carrier. Constructed by Tsuneishi (Cebu), Inc. at West Cebu Estate, the vessel underwent

comprehensive inspections to ensure full compliance with international maritime standards prior to deployment. Formally named and revealed by His Excellency President Ferdinand R. Marcos Jr., M/V Brave Pioneer—the 81,200-metric-ton dual-fuel methanol Kamsarmax bulk carrier—represents a significant advancement in lower-emission maritime transport. The vessel is engineered to reduce carbon dioxide emissions by approximately 10 percent, nitrogen oxides by up to 80 percent, and sulfur oxides by as much as 99 percent compared to conventional ships, reflecting the growing integration of cleaner fuel technologies in commercial shipping. Story in A8 News, “Marcos eyes maritime leadership as PHL launches first methanol dual-fuel vessel.” PHOTOS BY PCO

By Reine Juvierre S. Alberto @reine_alberto

HE Philippines is set to post another record high in cash remittances from overseas Filipinos in 2025, with inflows reaching $32.11 billion from January to November, as favorable foreign exchange rates boost sending power. Latest data from the Bangko Sentral ng Pilipinas (BSP) showed that cash remittances from overseas Filipinos grew by 3.2 percent year-on-year to $32.11 billion from January to November 2025, compared to $31.11 billion during the same period in 2024. Cash remittances are cash sent by land-based and sea-based workers through the banking system. The top source of remittances during the 11-month period was the United States, trailed by Singapore, Saudi Arabia and Japan.

On a monthly basis, cash remittances rose by 3.6 percent to $2.91 billion in November 2025 from $2.80 billion in November 2024. According to Executive Director Jeremaiah M. Opiniano of the Institute for Migration and Development Issues (IMDI), the Philippines could see cash remittances from overseas Filipinos reaching a historic high after the country logged a 3 percent month-on-month growth rate for eight consecutive months. See “Remittances,” A9

PHL OPENS VISA-FREE ENTRY TO CHINESE NATIONALS JAN. 16 By Malou Talosig-Bartolome

HE Department of Foreign Affairs (DFA) announced that starting January 16, 2026, Chinese nationals may enter the Philippines visa-free for up to 14 days, provided their travel is strictly for tourism or business purposes. The initiative, aligned with President Ferdinand Marcos Jr.’s directive to boost trade, investments, tourism, and peopleto-people exchanges between the Philippines and China, will be valid for one year and subject to review before expiration. Visa-free entry will be allowed only through the Ninoy Aquino

International Airport (NAIA) in Metro Manila and the Mactan-Cebu International Airport (MCIA) in Cebu. Travelers must present a passport valid for at least six months beyond their stay, confirmed hotel accommodation, and a return or onward ticket. The DFA stressed that the 14day stay is non-extendable and non-convertible to other visa categories. For the past years, the DFA and the intelligence community had been hesitant to provide visa-free access to Chinese nationals, citing national security concerns amidst geopolitical tensions in the West See “Visa-free,” A2

Aim for 8% growth, FFCCCII prods govt By Andrea E. San Juan

HE Philippines should raise its “national economic ambition” by targeting to achieve sustained annual growth of 8 percent and beyond to attain “transformative” progress, according to the Federation of Chinese Chambers of Commerce and Industry, Inc. (FFCCCII). FFCCCII President Victor Lim stressed this in a statement on Thursday following the recent revision and lowering of the country’s economic growth targets for 2026 through 2028. In a recent press briefing at Malacañan Palace, Department of Economy, Planning and Development (DepDev) Secretary Arsenio M. Balisacan said the economic managers had revised the growth targets downward during their December meeting. The Cabinet-level Development Budget Coordination Committee (DBCC) trimmed the economic growth target to 5 to 6 percent this year and 5.5 to 6.5 percent for next year from the previous 6 to 7 percent goal.

FFCCCII President Victor Lim

The FFCCCII chief said the scaling down of the country’s growth targets is a “wake-up call and a sobering administrative acknowledgement of real headwinds.” While the group of Filipino-Chinese entrepreneurs note the cited causes—the “corrosive” aftermath of See “Growth,” A2

PESO EXCHANGE RATES n US 59.4220 n JAPAN 0.3751 n UK 79.8810 n HK 7.6205 n CHINA 8.5206 n SINGAPORE 46.1602 n AUSTRALIA 39.6939 n EU 69.1969 n KOREA 0.0406 n SAUDI ARABIA 15.8450 Source: BSP (January 15, 2026)

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A2 Friday, January 16, 2026

Carlson says goodbye, touts US-PHL alliance… Continued from A12

the Luzon Economic Corridor. Beyond security, she emphasized people-to-people ties—from the 1.3 million US citizens who visited the Philippines in 2024 to the 170 Peace Corps Volunteers currently serving across the archipelago. Closing her remarks, Carlson raised a toast: “Our friendship is strong, our partnership vibrant, and our future bright. Maraming, maraming salamat.” (See related: ht t p s:// b u s i ne s s m i r ror.com . ph/2025/01/16/amb-marykaycarlson-envoy-collector-designerextraordinaire/)

Govt to expand ‘hack-free’ blockchain… Continued from A12

detailed budget-related documents on a centralized Digital Budget Platform to help improve transparency in government processes. “Probably by 2027, that is when the pure blockchain from budget to disbursement to budget allocation etc. will happen,” Aguda said.

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Economy stable but fragile; not in crisis yet–think tank

By Andrea E. San Juan @andreasanjuan

HE Philippine economy has shown stability but remains fragile, according to a local think tank.

“Based on the statistics, we’re not technically in a crisis, because inflation is under control. The financial system remains sound and economic growth remains to be positive. However, confidence among investors, businesses and even households, remains to be thin,” Philippine Institute for Development Studies (PIDS) Senior Research Fellow John Paolo D. Rivera said during a webinar on Thursday. As such, Rivera raised the question: “Can the Philippines sustain growth and move forward? Or will it remain stuck below its true potential?” He pointed this out as he presented the growth momentum of the Philippine economy since 2024. With GDP growth at 5.7 percent in 2024, and 4.96 percent as of the third quarter of 2025; and inflation back within the target of the Bangko Sentral ng Pilipinas (BSP) averaging 1.7 percent in 2025 from the 3.2 percent average in 2024, and the financial system stable,

liquid but cautious, Rivera noted: “By historical standards we can claim that these remain respectable numbers. However, growth has consistently fallen short of government targets.” In other words, he added, “while headline macroeconomic indicators signal stability, the economy is not accelerating at a pace that we had hoped for. Stability may have returned but ambition has yet to be fully translated into real outcomes.” As to the reasons behind the slowdown in the country’s economic growth, the PIDS Senior Research Fellow pointed to investment slowdown, climate and weather disruptions, global trade and policy uncertainty and governance and execution bottlenecks. “First, investments remain to be weak especially public infrastructure execution. Second, climate and weather disruptions continue to affect agriculture, food prices, even jobs,” Rivera noted.

He pointed out that 2025 has seen a lot of these episodes “disrupting” the growth momentum. Third, he said global uncertainty from trade tensions to higher tariffs, has made many firms “cautious.” Rivera also pointed to governance and execution bottlenecks which he said are weighing in on confidence, hence also being one of the culprits behind the country’s slow economic growth momentum. “What does this tell us? We are growing. Yes, we are growing. But not fast enough and perhaps not securely enough,” he also noted.

The Philippine economic team has recently scaled down its medium-term growth targets due to lingering global uncertainties in trade and investment, along with residual domestic headwinds. The Cabinet-level Development Budget Coordination Committee (DBCC) trimmed the economic growth target to 5 to 6 percent this year and 5.5 to 6.5 percent for next year from the previous 6 to 7 percent goal. (See: https://businessmirror.com.ph/2026/01/06/ global-local-headwinds-spurgrowth-downgrade/)

Growth…

builds a healthier, smarter, and more competitive workforce,” FFCCCII noted. On implementing an institutional anti-corruption overhaul, the business group said the cure to the DPWH scandal which it called a “symptom of a national malaise,” is a “systematic, institutional remedy” by creating an independent and “wellresourced” anti-corruption agency to restore domestic and international confidence. The group also underscored the importance of anchoring growth on industrial and agricultural renaissance. The government, it said, must “champion domestic manufacturing and agro-industrial development through strategic incentives and serious, sustained action against rampant smuggling, high costs and unfair import competition.” It added, “We must create jobs here, add value here, and feed our nation with our own produce.” In promoting an “Economics-First Diplomacy,” FFCCCII stressed the need to pursue an independent, balanced foreign policy that “pragmatically secures our national interests, fosters stable relations, and actively opens markets for Philippine goods, services, and talent.” On Infrastructure and Innovation, the group said the government should continue critical infrastructure builds with renewed transparency and efficiency. “Concurrently, launch a national strategy for digital transformation, research and development, and green technology to compete in the industries of the future,” said FFCCCII. It also stressed the importance of executing a “world-class, seamless national tourism strategy that leverages our unparalleled cultural and natural assets, creating millions of jobs and showcasing the best of the Philippines.” While it acknowledged the “favorable” macroeconomic fundamentals such as the low inflation and prospective interest rate cuts, it said, “These are not reasons for comfort; they are the launchpad for acceleration.” Aiming for and achieving 8-percent growth is a “realistic and necessary goal,” it asserted. It said this target will be within the Philippine economy’s grasp “if we summon the collective will to reform, invest, and execute with unity and precision.” The business group said the government’s revised targets offer only a “snapshot of current momentum.” As such, it pointed out the need to change that momentum entirely. “This is the decade we choose ambition over accommodation, and action over acceptance,” the group of Filipino-Chinese businessmen underscored.

Continued from A1

the flood control corruption scandal and its “dampening effect” on confidence as well as global trade uncertainties, it underscored that the country should not be held back by these new and lower targets. “We must categorically reject the notion that these new targets—5 percent to 6 percent in 2026, scaling to 6 percent to 7 percent by 2028—should represent the limit of our national economic ambition,” Lim said. Instead, the business group said the Philippine economy must target and seek to achieve sustained annual growth reaching 8 percent and beyond. “This is the minimum viable ambition of our nation of our potential,” the Filipino-Chinese business community said, adding that the goal of 8 percent remains the “ideal benchmark of transformative progress, because a steadfast and collective drive toward 8 percent is the critical, immediate step that will change our momentum and define this decade.” While the group agrees with Balisacan’s take that “Growth that benefits only a small section is growth betrayed,” FFCCCII asserted that “Inclusivity cannot be an alternative to ambition; it must be an outcome of it.” As such, it said: “We cannot significantly improve inclusivity on a sluggish and small economic base. A faster, larger, and more robust Philippine economic expansion provides the essential resources and opportunities to ensure a ‘rising tide lifts all boats’ not as a hope, but as a tangible reality.” The revised growth forecast, it added, must serve as a “catalyst” for a “whole-of-nation economic mobilization.” “We call for a partnership between Government, Business, Labor, and Civil Society that is not merely cooperative, but revolutionary in its intensity and focus,” the group said. The Filipino-Chinese business community laid out its proposed “bold, actionable” reform agenda which revolves around Transformative Human Investment, Institutional Anti-Corruption Overhaul, Industrial and Agricultural Renaissance, Strategic, Economics-First Diplomacy, Infrastructure and Innovation Leap, and Unlocking Tourism and Creative Economy. Under human investment, the government is told to double down on education and public health as the “bedrock of productivity.” “We support the budget focus but urge a shift from input-based to outcome-based spending, ensuring every peso spent truly

Forum…

Continued from A12

Frasco underscored that the ATF provides a unique opportunity for world leaders to discuss tourismrelated issues and ways to cooperate that would push travel and tourism to and within the region.

9K cops for deployment

MEANWHILE, the Tourism Promotions Board, DOT’s marketing arm, has confirmed the participation of 600 international buyers at the Travel Exchange (Travex), the longest-running leisure travel trade event in Asean. To be held at the new Mactan Expo Center in Lapu-Lapu City simultaneously with the ATF, Travex will be a premier venue for business-to-business meetings between foreign buyers and Philippine sellers, which will include hotels, resorts, travel and tour op-

erators, and transport operators. At the news briefing Angela Javier, Deputy Director-General of the Asean National Organizing Committee (NOC), said the Philippines will host more than 600 meetings during its chairmanship of the regional body this year. This will include meetings of working groups, senior officials, ministers, and a leaders’ summit. More than 9,000 police personnel from Region 7 (Central Visayas) will be deployed during the series of Asean meetings that will be held in Cebu, including ATF 2026. “We were able to have the support of the provinces and the tri-cities to make sure that the adjustments are made, so that every aspect of the security preparation is suitable for our visitors and also our local attendees, and not just that, but also something that is suitable for the people of Cebu,” said Police Regional Office 7 Chief Regional Community Affairs and Development Commission PCOL Kimberly Molitas.

PHL opens visa-freee entry to Chinese… Continued from A1

Philippine Sea and other criminalrelated activities such as Philippine Offshore Gaming Operators (POGO). “To ensure that security and public order are maintained while facilitating the entry of legitimate travelers, checks on derogatory records of travelers will continue to apply,” the DFA stressed. (See related: https://businessmirror. com.ph/2025/09/05/dot-citese-visa-ni x ing-geog raphy-formissed-goal/) Previously, entry was granted only to Chinese passport holders with valid visas from countries such as the United States, Japan, Australia, Canada, or Schengen states (AJACS) for a maximum of seven days. (See related: ht t p s:// b u s i ne s s m i r ror.co m . ph/2025/09/08/dfa-defends-visa-screening-for-chinese-tourists) In November 2025, the DFA resumed e-visa issuance for Chinese nationals on group tour, following earlier pilot programs in India, the UAE, Kenya, and Nigeria. Separately, in May 2025, Indian nationals were allowed to visit the Philippines visa-free for 14 or 30 days, depending on conditions. The timing of the new policy is notable: it was announced just a month before the Chinese New Year, a period when millions of Chinese travelers go overseas during extended holidays. Analysts say the measure will be tested, especially since China issued a travel advisory last year cautioning its citizens against visiting the Philippines. (See related: https://businessmirror.com. ph/2025/08/31/china-expandssafety-advisory-for-nationalsciting-risks-for-students-andtravelers/)

Industry concerns

THE announcement comes as the Philippines grapples with a sluggish tourism recovery compared to its Asean neighbors. Last week, Victor Lim, president of the Federation of Filipino Chinese Chambers of Commerce and Industry, Inc. (FFCCCII), issued a strong call for urgent reforms. “Our nation is blessed with unparalleled natural beauty and resources. Yet, as our Asean neighbors celebrate a robust tourism recovery, the Philippines is charting a dissimilar and concerning course. We are at a pivotal time where decisive, comprehensive reform is not just an option—it is an urgent economic imperative,” Lim said. (See related: ht t p s:// b u s i ne s s m i r ror.co m . ph/2026/01/12/tourism-revival-key-to-revving-up-gdp/) He cited figures showing that in the first 11 months of 2025, the Philippines recorded 5.24 million international arrivals, down 2.2 percent from the previous year and 37 percent below pre-pandemic 2019 levels.

Regional context

ACROSS Asean, governments have aggressively eased entry for Chinese nationals to capture tourism flows: n Thailand now grants 60 days visa-free entry. n Malaysia, Singapore, Vietnam, Cambodia, Laos, and Indonesia all allow 30 days visa-free stays. n Brunei offers 14 days visa-free entry. Tourism arrivals reflect the impact of these policies. In 2025, Vietnam welcomed 5.5 million Chinese visitors—25 percent of its total arrivals. Thailand welcomed 4.5 million Chinese visitors. Both countries are expected to be one of the top three destinations for Chinese tourists in 2026, according to China Trading Desk.

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Friday, January 16, 2026

House panel to Customs: Explain resurgence of large-scale smuggling of tobacco products By Jovee Marie N. dela Cruz @joveemarie

LARMED by billions of pesos in foregone revenues and the renewed threat of illicit tobacco to public health, the House Committee on Ways and Means wants the Bureau of Customs (BOC) officials to explain the resurgence of large-scale cigarette smuggling across major Philippine ports. With this, Marikina City Rep. Romero Quimbo, the committee chairman, said the House will summon top officials of the BOC as the fiscal impact of smuggling remains severe, citing Bureau of Internal Revenue estimates placing government losses from the

illicit tobacco trade at P25.5 billion in foregone excise taxes in 2023 alone. Quimbo said the congressional inquiry will evaluate whether existing enforcement mechanisms, inter-agency coordination, and penalties are sufficient to deter large-scale smuggling, or if stronger reforms are needed to better protect government revenues and public health. Quimbo is the congressman representing the Second District of Marikina, where the factory of Philip Morris Fortune Tobacco, the biggest cigarette factory in the country, is located. House sessions and committee hearings are set to resume on January 26.

Customs Commissioner Ariel Nepomuceno is expected to lead the roster of officials invited to the hearing, along with key deputy commissioners and port collectors, as lawmakers examine possible enforcement lapses and alleged insider involvement that may have allowed smuggled cigarettes to re-enter the market. Among those expected to attend are Deputy Commissioners Romeo A llan Rosales (Intelligence), Nolasco Bathan (Enforcement), Agaton Teodoro O. Uvero (A ssessment a nd O perat ions Coord inating Group), Revsee Escobedo (Management Information Systems and Technology Group), and Assistant Commissioner Atty. Vincent Philip Ma-

ronilla (Post Clearance Audit Group), Port of Manila District Collector Alexander Gerard Alviar, Port of Batangas District Collector Carmelita Talusan, and Manila International Container Port District Collector Rizalino Jose Torralba. The investigation stems from House Resolution 636 filed by Quimbo last week, which calls for a congressional investigation into the National Police’s (PNP) New Year’s Eve seizure of 32 truckloads of allegedly smuggled cigarettes in Batangas and Malabon, valued at around P2.6 billion. Quimbo said the interception underscores how organized cigarette smuggling continues to un-

dermine government revenues, noting that the seized products alone translate to about P875.16 million in unpaid excise taxes based on 2026 rates. In response, Nepomuceno ordered an internal investigation amid reports that some officials of the Customs Intelligence and Investigation Service (CIIS) may be involved. He also relieved CIIS Port of Manila Chief Intelligence Officer III Paul Oliver Pacunayen from his post. Pacunayen, along with CIIS Director Thomas Narcise, was named in a December 11 letter sent by customs officials, employees, a nd sta keholders to President Marcos. The letter also pointed to a customs broker

previously identified in a Senate report as a major agricultural smuggler operating in several key ports nationwide. According to the letter, the Port of Manila—considered the country’s primary international gateway—has become a major entry point for regulated, prohibited, or undeclared goods, including agricultural products, counterfeit items, illicit cigarettes, motor vehicles, vape products, and other regulated commodities. The House investigation will involve review of current enforcement systems, coordination among agencies, and existing penalties to determine if these remain enough to deter large-scale illicit tobacco trade.

NCR builders feel lighter price pressure in ’25–PSA SRA moves to arrest slide of farmgate prices By Bless Aubrey Ogerio

By Ada Pelonia @adapelonia

HE Sugar Regulatory Administration (SRA) will implement the third round of its voluntary purchase program to prevent a slide in farmgate prices ahead of the expected spike in production. The SRA issued Sugar Order (SO) 2 in crop year 2025-2026, covering the purchase of 300,000 metric tons (MT) of locally produced sugar on a first-come, firstserved basis. Of this, 225,000 MT of the sugar would come from farmers, and the remaining 75,000 MT from millers. “The intention of this [program] is to ensure a stable and reasonable farmgate price of locally produced sugar while maintaining the prevailing level of retail prices,” the order read. Under the program, raw sugar is typically purchased by traders at a premium and classified as “C” or reserved sugar for around 90 days, unless approved for reclassification to “B” for domestic use. Traders who purchased raw sugar higher than the prevailing market price will be prioritized in the selection of participants for the government’s future import

programs if deemed necessary. The SRA, however, earlier extended the ban on sugar imports until December 2026 amid ample domestic stocks. In addition, the order stipulates that only sugar purchased under this SO would be allowed for export to the United States under the 2026 US sugar quota allocation at a ratio of 3 (local sugar purchased):1 (sugar export). The Department of Agriculture (DA) recently announced that the Philippines is set to export 100,000 MT of raw sugar to the US in its bid to reduce domestic stockpile and raise farmgate prices. This, after farmgate prices fell to around P2,100 per 50-kilo bag in December, from P2,500 in the previous year. The SRA had implemented a voluntary purchase program for the past two crop years as part of efforts to prop up farmgate prices. A group of sugar millers, however, bucked any import-linked export program, saying over importation led to the current supply glut of the sweetener, which depressed millgate prices. (See: https:// businessmirror.com. p h / 2 0 2 6/01 /14 /g ro u p - s u gar-glut-due-to-govt-importscheme/)

UILDING materials in the National Capital Region hit the brakes last year, with wood, pipes, and metal taking it easy, according to the Philippine Statistics Authority (PSA). The Construction Materials Retail Price Index (CMRPI) in Metro Manila showed an annual average growth of 1 percent in 2025, down from 1.2 percent in 2024. T he slowdow n was largely driven by smaller annual increases in key sectors: carpentry ma-

terials rose just 0.2 percent from 0.6 percent, plumbing materials climbed 0.4 percent from 0.5 percent, tinsmithry materials edged up 1.7 percent from 2.1 percent and miscellaneous construction mater ia ls moved 0.4 percent from 0.7 percent. On the other hand, electrical materials rose 2 percent in 2025, up from 1.3 percent in 2024, while painting materials and related compounds increased by 2.3 percent, up from 2.1 percent. Masonry materials also recorded a 1 percent rise after staying flat in 2024.

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AVAO CITY—It will still be a long way for the cou nt r y ’s se a g y psies down south but the Bangsamoro government is putting in the tangible social services to uplift their living condition, including permanent houses for them to settle on land. Last year, the Bangsamoro Autonomous Region in Muslim Mindanao provided livelihood training and a seed fund to a community of Bajaos on Simunul Island, part of island communities dotting the country’s southern backdoor and forming the island province of Tawi-Tawi. Tawi-Tawi is also home to the Bajaos, the country’s sea gypsies and the most discriminated and neglected tribe mainly owing to their highly mobile living on their boats and exclusive social life outside of mainstream Filipino society.

In November, some 90 Badjao community members in Simunul finished the two-day Basic Business Management and Sk i l ls Training on Seaweed Farming and Fishing to upskill the families that also received permanent houses given to them in June last year. The Bangsamoro Ministry of Social Services and Development (MSSD) also gave the graduates P15,000 in seed capital “as part of efforts to empower the marginalized sea-gypsy community.” The MSSD sponsored the November 13–14 skills training held in barangay Kanaway of that town. “The training and distribution of seed capital aim to help Badjao families establish their own livelihood through fishing and create stable and sustainable sources of income for their households,” the MSSD said. A fishing kit consisting of an ice case box, buckets, a solar lamp, and tote bags were given alongside the

Carpentry materials, meanwhile, eased slightly, with their index moving down to 0.5 percent from 0.6 percent in November. Slower annual rises were also obser ved in masonr y materials at 1.1 percent and tin smither y materials at 1.7 percent, compared with 1.2 percent and 1.8 percent, respect ively, in t he previous month. The CMRPI tracks the retail prices of construction materials typically purchased by households and small-scale builders, serving as a key indicator of trends in the residential construction sector.

Senator pushes long-term infrastructure roadmap By Butch Fernandez

BILL seeking to establish a 30-year infrastructure m a ster pl a n to ensu re maximum returns on investment will prevent the insertion of redundant or low-impact projects into the yearly budget bill, Sen. Sherwin Gatchalian said. Aside from preventing budget insertions, Senate Bill 1652, or the proposed Masterplan for Infrastructure and National Development (MIND) Act, seeks to

ensure that vital projects continue without disruption even under new administrations. T he measure a lso a ims to focus spending on high-impact infrastructure that delivers the g reatest retur ns for Fi lipino ta xpayers. “We need to lock in the country’s development goal and lock out political interference. With infrastructure taking a bigger piece of the budgetary pie, we need to ensure that every peso is spent on projects that truly benefit ordinary Filipinos,” said

BARMM upskills sea gypsies By Manuel T. Cayon

In December, the price of pipes and fittings nudged the construction materials index up to 1 percent from 0.9 percent in November 2025. By comparison, the year-onyear growth in December 2024 had reached 1.5 percent. The plumbing materials index rose to 0.5 percent in December from 0.3 percent the month before. Other items with higher annual increments included electrical materials at 1.9 percent from 1.8 percent, painting materials at 2.2 percent from 2.1 percent and miscellaneous construction materials at 0.8 percent from 0.6 percent.

cash seed fund to help them immediately start their small-scale livelihood activities. The initiative was part of the Layag Bajao Program under MSSD’s Family and Community Welfare Program (FCWP). In addition to the livelihood assistance, the program also provides access to education, health, nutrition, and resettlement support. On the same month in Sulu province, 60 Bajao beneficiaries in Panamao received similar assistance, and another 34 beneficiaries in Tapul and 119 others in Maimbung. “These efforts underscore the Bangsamoro Government’s push to expand economic opportunities for historically underserved Bajao communities by integrating traditional sea-based livelihoods with formal business training and capital support,” the MSSD said. The upskilling came as the MSSD also handed household

essentials to 200 Bajao families in Simunul, Tawi-Tawi as support to the those who were g iven t he keys to t heir new homes built for them in barangay Doh-Tong, Simunul. Each household received a 25kilo sack of rice, canned goods, and instant coffee. An additional 100 families were also given jerry cans, cooking kits, and hygiene kits. “The purpose of the distribution is to ensure that the Badjao families have adequate basic necessities as they move into their new homes,” the MSSD said. The household items were distributed by the MSSD Tawi-Tawi Provincial Office in collaboration with the MSSD Simunul Unit Office, the Office of Civil Defense (OCD) Tawi-Tawi and the provincial government of Tawi-Tawi. MSSD said it will conduct a case assessment to determine additional needs of the community, See “Gypsies,” A4

Gatchalian, chairman of the Senate Committee on Finance. He noted that from 2022 to 2025, budget allocations for national infrastructure projects grew by an average of 7.9 percent annually, based on Department of Budget and Management data. Congress, however, applied the brakes on infrastr ucture spending in the last part of 2025 and in the 2026 national budget, in reaction to the unprecedented scale of corruption that attended the allocations for infrastructure the past several years, notably

the f lood-control projects for which over a trillion was spent, and yet people experienced massive f looding in many parts of the country. “Kapag ang masterplan ay naka angkla sa batas, hindi ito madaling palitan at maipagpapatuloy ang mga importanteng imprastraktura kahit na magpalit-palit pa ang mga nasa pwesto [When the masterplan is anchored on the law, it would be hard to amend it and important infrastructure can continue despite changes in administration],” he said.

‘Integrity of SHS voucher program non-negotiable’ By Rizal Raoul Reyes @brownindio

‘T

HE Pr ivate Education Assistance Committee [Peac] moved to assure the public on Thursday, stating that strict oversight measures effectively protect public funds within the Senior High School [SHS] Voucher Program.” “ T he integ r it y of the SHS Voucher Program is non-negotiable for us,” said Peac Executive Director Doris Ferrer in a statement. “We have clear systems, validation processes, and monitoring mechanisms to ensure that vouchers are properly used and that any concerns are addressed immediately.” In close collaboration with the Department of Education, Ferrer said the Peac validates voucher grantees through its

Voucher Management System and cross-checks records with the DepEd’s Learner Information System (LIS) before processing any billing. “We do not process billing documents unless schools have been cleared from the previous school year,” she said. “When issues are identified, refunds are required. And when necessary, sanctions such as suspension or termination from the program are imposed on erring participating schools.” Ferrer said Peac also recommended requiring quality assurance to ensure SHS providers deliver for eligible learners. Ferrer emphasized that Peac works closely with DepEd in handling cases and strengthening program policies. See “Voucher,” A4

Friday, January 16, 2026

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PHL, Japan ink logistics pact to boost defense cooperation M

More areas under Wind Signal 1 By Jonathan L. Mayuga @jonlmayuga

may gradually develop and become bigger and higher.

@joveemarie

Heavy rainfall

& Jovee Marie N. dela Cruz

By Malou Talosig-Bartolome

HE Philippines and Japan have agreed to allow their defense forces to exchange fuel, ammunition, and other logistical support materials during joint exercises, humanitarian missions, and wartime operations, further deepening their strategic partnership.

Japan itself faces territorial tensions with China over the Senkaku Islands in the East China Sea, while recent diplomatic overtures toward Taiwan have further sharpened regional dynamics. Both ministers also committed to deepen trilateral cooperation with the United States.

Defense aid

ALSO signed during the visit was an Exchange of Notes for Japan’s Officia l Secur it y A ssistance (OSA) for fiscal year 2025, amounting to ¥900 million (approximately P341 million), to fund the construction of boathouses and slipways for the Navy’s (PN) rigid-hulled inf latable boats. Motegi noted that the first two batches of OSA grants to the Philippines since 2023—for coastal radar systems—was delivered Wednesday. He also announced that Japan will continue to provide MultiRole Response Vessels (MRRVs) through its Official Development Assistance program, further reinforcing the Philippines’ maritime capability. Since 2016, Japan has funded 12 Multi-Role Response Vessels (MRRVs) for the Coast Guard (PCG) which are now deployed for West Philippine Sea patrols, search-and-rescue, and disaster response. In 2024, Manila secured a loan for five more 97-meter MRRVs, due starting 2027, which will expand the fleet to 17 and significantly strengthen the Coast Guard’s maritime capability. Beyond defense, the ministers

reviewed progress on infrastructure projects under Japan’s ODA, including railway expansion, flood control, and disaster resilience initiatives. Japan is funding the Metro Manila Subway Project and the North-South Commuter Railway Project. “We also confirmed our intent to deepen cooperation in economic security, such as enhancing the resilience of supply chains – including those for critical minerals,” Motegi said. Lazaro said they also revisited the implementation of the Philippines-Japan Economic Partnership Agreement (Pjepa), the two countries’ free trade pact. Both ministers exchanged diplomatic notes for Japan’s grant aid to establish a wireless communication network in Basilan, Sulu, and Tawi-Tawi (BaSulTa), amounting to ¥1.63 billion (approximately P617 million). The meeting also touched on broader geopolitical concerns, including the situation in North Korea, Venezuela, the Middle East, and Association of Southeast Asian Nations (Asean) affairs. The Philippines is chairing Asean this year. Moteg i sa id he wa s “ver y pleased” to visit Manila at the start of this “very important year.” “The stability of Asean is crucial to the prosperity of the entire region, and Japan is fully committed to supporting the Philippines’ efforts as this year’s Asean Chairman, so that Asean is able to exercise its unity and centrality,” Japan’s foreign ministry quoted him as saying.

The Acquisition and CrossServicing Agreement (Acsa) was signed on Thursday in Manila by Foreign Affairs Secretary Ma. Theresa Lazaro and Japanese Foreign Minister Toshimitsu Motegi, who is visiting the country as part of a regional diplomatic tour. This is the second major defense accord between the two countries – once World War II adversaries – following the entry into force of the Reciprocal Access Agreement (RAA) last year. The RAA provides the legal framework for the deployment of Japanese troops to the Philippines and vice versa. Officials said the new logistics pact will enhance interoperability not only between Manila and Tokyo, but also with treaty allies such as the United States and Australia, with whom the Philippines maintains similar visiting forces agreements and Acsa arrangements. The Philippines has been conducting multilateral cooperative activities (MCA) with the

US, Japan, Australia, and other par tners in the South China Sea—seen as a show of solidarity amid Manila’s pushback against China’s militarization of disputed islands and reefs. During their bilateral meeting, Lazaro and Motegi discussed regional peace and security. Motegi described the Philippines as an “indispensable partner” in maintaining stability in the Indo-Pacific. “As the regional strategic environment grows increasingly severe, the importance of a Free and Open Indo-Pacific [Foip], based on the rule of law, has become ever more critical,” Motegi said. “The Philippines is an indispensable partner for Japan in realizing Foip, and we aim to further strengthen our cooperation in addressing global challenges.” He added: “We concurred on continuing to oppose unilateral attempts to change the status quo by force or coercion in the East and South China Seas.”

Risa to DOH: Discard ‘epal,’ need for begging in assistance rules

NMC: China personal attacks on Filipino officials show weak WPS legal standing

HE new administrative order the Department of Health is drafting on medical assistance should not only eliminate patronage politics as mandated by a provision in the 2026 budget, but also clearly lay down the process and requirements in receiving financial aid. Sen. Anna Theresia Hontiveros made this clear on Thursday as she called on the DOH to ensure these twin objectives are embodied in the new AO, keenly awaited by stakeholders and the public because many people have relied on the Medical Assistance for Indigent and Financially Incapacitated Persons (Maifip) for many years. Hontiveros, who chairs the Senate Committee on Health and Demography, said the DOH’s revision of the guidelines on Maifip must ultimately ease patients’ access to financial aid. “Klaro ang naging desisyon namin sa Senado at House: Hindi na dapat mag-door-to-door pa sa mga opisina ng pulitiko para manlimos ng guarantee letters para lang makapagpagamot [Our decision on the Senate was clear: people should not have to knock on every politician’s door to beg for guarantee letters just to have much-needed treatment],” Hontiveros said. She continued, “That is why I expect it is See “DOH,” A5

HE government has pushed back against China’s accusations of alleged “provocations” in the West Philippine Sea (WPS), saying Beijing’s resort to personal attacks against Filipino officials and advocates exposes the weakness of its legal position. The National Maritime Council (NMC) spokesperson, Undersecretary Alexander Lopez, said China’s recent statements and social media engagements, particularly those singling out Philippine officials, reflect its inability to counter Manila’s claims under international law. “They’re trying to discredit some personalities, eh sa atin once you attack a personality ang ibig sabihin lang doon nawawalan kayo ng legal argument kaya tao na iyong binabanatan ninyo [Once you attack a personality, it only means you’ve lost the legal argument and are now targeting people instead],” Lopez said. His remarks followed repeated statements from the Chinese Embassy in Manila calling out Filipino

figures vocal against China’s activities in the WPS, including the Coast Guard (PCG) spokesperson, Commo. Jay Tarriela; Sen. Francis Pangilinan, and Party-list Rep. Leila de Lima of Mamamayang Liberal.

No legal basis

LOPEZ rejected China’s claim that the presence of Filipino f i s h e r m e n a n d g o v e r n m e nt vessels in the W PS amounts to provocation, stressing that Philippine actions are anchored on international law. “Ayon kasi sa United Nations Convention on the Law of the Sea [Unclos], ang coastal state lamang ang may sovereignty, sovereign rights at jurisdiction sa lahat ng resources sa loob ng 200 nautical miles, exclusive economic zone [Under Unclos, only the coastal state has sovereignty, sovereign rights, and jurisdiction over all resources within the 200-nautical-mile exclusive economic zone],” he said. He said vessels of the PCG, Bureau of Fisheries and Aquatic Resources (Bfar), and the Navy (PN) are conducting lawful patrols to protect civilians and enforce Philippine and international laws. Lopez said China, not the Philippines, has engaged in “illegal, coercive, aggressive and decep-

Gypsies. . . Continued from A3

ensuring that the Bajao families receive necessary support such

tive” acts, citing water cannoning, ramming, dangerous maneuvers at sea and in the air, harassment of resupply missions, and the use of military-grade laser devices. “ Walang basehang legal o sa international law ang akusasyon ng Tsina [China’s accusations have no legal or international law basis],” he said.

Firm but peaceful

DESPITE rising tensions, Lopez said the Philippines remains committed to a legal and peaceful approach consistent with Unclos, international law, and the 2016 arbitral ruling that invalidated China’s expansive claims. “All actions of the government are legal, mapayapa, at consistent sa arbitral ruling [legal, peaceful, and consistent with the arbitral ruling],” he said. He said diplomatic channels remain open but stressed that Philippine sovereignty and maritime rights are non-negotiable. Lopez added that the NMC continues to ensure a coherent and unified maritime governance strategy to avoid miscalculations and escalation. “We stick to issues and we do not discuss personalities,” he said. He reiterated President Marcos’s directive to firmly uphold Philippine sovereignty. PNA as livelihood and educational assistance. Some 150 Bajao families in Simunul were the first batch to be given permanent houses located at the Madinatul Bajao Complex

ORE areas have been placed under Wind Signal 1 as Tropical Depression Ada maintained strength. The weather bureau reported placed under Wind Signal 1 additional areas in Luzon, in addition to those in some areas in Mindanao and the Visayas. These are:

Luzon

n Sorsogon, the southeastern portion of

Albay (Rapu-Rapu, Manito, Legazpi City, Bacacay, Santo Domingo), and Catanduanes

Visayas

n Northern Samar, Samar, Eastern Samar,

the eastern portion of Biliran (Maripipi, Kawayan, Culaba, Caibiran, Cabucgayan), the eastern portion of Leyte (Carigara, Barugo, San Miguel, Babatngon, Tacloban City, Tunga, Jaro, Alangalang, Santa Fe, Palo, Dagami, Pastrana, Tanauan, Tabontabon, Julita, Dulag, Tolosa, La Paz, Mayorga, Macarthur, Javier, Abuyog, Mahaplag), and the eastern portion of Southern Leyte (Silago, Sogod, Libagon, Saint Bernard, Hinunangan, Hinundayan, Anahawan, San Juan, Liloan, San Ricardo, San Francisco, Pintuyan)

Mindanao

n Dinagat Islands, Surigao del Norte, and

Surigao del Sur The Philippine Atmospheric Geophysical and Astronomical Services Administration (Pagasa) said winds of 39 to 61 kilometers per hour as well as or intermittent rains may be expected in at least 36 hours. Pagasa said the waves in coastal waters

PAGASA’S Weather Advisory issued at 11 a.m. on Thursday said 50 to 100 millimeters of rain is forecast until Friday in Northern Samar, Eastern Samar, Samar, Biliran, Leyte, Southern Leyte, Dinagat Islands, Surigao del Norte, Agusan del Norte, and Surigao del Sur. On Friday to Saturday noon, Camarines Norte, Camarines Sur, Albay, Masbate, Sorogn, Samar, Biliran, Leyte, Southern Leyte, nd Dinagat islands will experience the same rainfall intensity, while Sorsogon, Northern Samar, and Camarines Norte will have rain from Saturday to Sunday noon. Pagasa said localized flooding is possible mainly in areas that are urbanized, low-lying or near rivers. Landslides are also possible in highly susceptible areas, the weather bureau added.

Coastal waters

PAGASA said the inclement weather is expected to affect coastal waters as Ada passes through. Rough waters are expected in the northern and eastern seaboards of Catanduanes, Northern Samar, and Siargao-Bucas Grande Islands; the eastern seaboards of Albay, Sorsogon, Eastern Samar, Dinagat Islands, and Surigao del Surl; the seaboard of Camarines Norte; the northern seaboard of Camarines Sur; the eastern seaboard of Polillo Islands; and the seaboard of Isabela, Aurora, and northern mainland Quezon; the eastern seaboard of mainland Cagayan and Davao Oriental; the northern seaboard of Polillo Islands. The inclement weather has affected the operation of 31 seaports, while classes in some of the affected areas have been suspended, the National Disaster Risk Reduction and See “Typhoon,” A5

Solemn walk honors Binaliw landfill victims; Zero Waste Sinulog pushed

NVIRONMENTAL, youth, and community groups gathered for a solemn walk and candlelighting activity to honor the victims of the tragic landslide at the Binaliw sanitary landfill in Cebu City. The death toll in the Cebu trash slide has risen to 22 people dead, 14 missing as of Wednesday, prompting the Department of Environment and Natural Resources (DENR) to issue a cease-and-desist order and a rapid appraisal. Expressing their solidarity with the victims of the Binaliw landfill landslide, organizers of the event renewed their call for justice and long-term solutions to the country’s waste crisis, reiterating the need to shift toward zero-waste systems that prioritize people, health, and the environment. The call for a “Zero Waste Sinulog”was aired in anticipation of the massive annual cultural and religious festival held every third Sunday of January to honor the Santo Niño in Cebu. The annual Sinulog Festival attracts millions of people, often leaving tons of trash left behind by onlookers after the event. Organizers said participants will echo the call for justice and accountability as they push for a Zero Waste Sinulog Festival. Organized by the EcoWaste Coalition and its members, Cebu Inayawan Resource Collectors Association (CiRCA), Philippine Earth Justice Center (PEJC), Sanlakas, Philippine Movement for Climate Justice (PMCJ), Partido Lakas ng Masa (PLM), Eco-aktibong Kabataan para sa Kalikasan (EKKK), Gagmay nga Kristohanong Katilingban-Homeowners Association (GKKHOA), and other partner organizations, began with a silent walk from CBD College - Inayawan Campus to the St. Augustine Quasi Parish.

Voucher. . .

Participants carried candles as a symbol of mourning, remembrance, and collective resolve to prevent similar tragedies. Along the route, the group made two brief stops for short doxology presentations reflecting on the values of Sto. Niño—care for life, justice for the poor, and responsibility for creation—underscoring the moral and spiritual dimensions of the Binaliw tragedy. A holy Mass followed the solemn walk, offering prayers for the souls of the victims, their grieving families, and communities affected by unsafe waste management practices. After the Mass, youth participants presented a short Sinulog-inspired performance, expressing solidarity with the Binaliw victims and highlighting the urgent need to protect both people and the environment. In a brief program following the Mass, Victor Sumampong of PLM urged the local government to take responsibility for the Binaliw landfill tragedy and address the longstanding failures in waste management. “What happened in Binaliw shows the real cost of relying on landfills. As long as we continue to treat waste as something to be buried, communities and workers will remain at risk. The local government must urgently shift to safe, ecological, and peoplecentered waste management solutions,” Sumumpong said. Angelique Legaspi, PHINLA-Cebu Project Coordinator of the EcoWaste Coalition, emphasized the call for a zero-waste Sinulog, linking the celebration to the broader demand for environmental justice and the protection of life. “Honoring Sto. Niño means protecting life See “Binaliw,” A5

“We remain fully committed to transparency, accountability, and protecting the welfare of our learners,” she said. “Our role is to ensure that the voucher program continues to serve students while safeguarding public trust.”

The statement was issued by Peac comprised of the Presidents of the Association of Christian Schools, Colleges and Universities (ACSCU), the Catholic Educational Association of the Philippines (Ceap), the Philippine Association of Colleges and Universities (Pacu), and Peac regional program directors nationwide. To date, approximately 6.7 million learners have benefited from the voucher program.

in June last year. The housing project was funded under Office of the Chief Minister’s Kapayapaan sa Pamayanan or KAPYANAN Program, with assistance from the Ministry of Human Settlements

and Development (MHSD) and the Ministry of Public Works (MPW). The project includes a mosque, school building, health station, access road, footbridge, and other community-support facilities.

Continued from A3

www.businessmirror.com.ph

Friday, January 16, 2026

DILG offers ₧10 million for Atong Ang’s arrest By Joel R. San Juan @jrsanjuan1573

& Rex Anthony Naval

NTERIOR Secretary Juanito Victor Remulla on Thursday offered P10 million for conclusive information leading to the arrest of Charlie “Atong” Ang. Remulla said the reward offer from the Department of the Interior and Local Government aims to expedite Ang’s arrest. He also called on Ang to stop evading arrest and cooperate with authorities. “Surrender now peacefully and we will treat you with respect. If you become a fugitive from the law, then we will treat you like a fugitive,” Remulla said. The National Police -Criminal Investigation and D etec tion Group (PNP-CIDG,) meanwhile, requested the International Criminal Police Organization

(Interpol) to issue a red notice against Ang. “Although [based on] our recent monitoring he is still in the country, we have also requested the NCB [National Central Bureau] Manila of the Interpol for a red notice,” the CIDG chief, Maj. Gen. Robert Alexander Morico II, said in a press briefing on Thursday. “In case na makalabas ng bansa si Atong Ang through the back door or whatever, other countries that are members of Interpol may arrest him,” he added. An Interpol red notice is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action. The PNP, he added, has also revoked the firearms license issued to Ang. “To further facilitate the manhunt operation, we have recommended to the Chief, PNP the revocation of the firearm

Kokoy, wife win round at Sandiganbayan

HE Sandiganbayan on Wednesday denied the government’s plea for the issuance of a writ of preliminary attachment covering the more than US$5 million alleged ill-gotten wealth of the late Ambassador Benjamin “Kokoy” Romualdez and his wife Juliette. The government, in its application for a writ of preliminary attachment, expressed apprehension that the said amount, which has been transferred by Swiss authorities to the escrow account with the Philippine National Bank (PNB), “remains susceptible to claims that may frustrate the recovery efforts of the government.” It added that the deliberate concealment of the said amounts abroad from Philippine authorities shows the intent to evade a local suit for forfeiture proceedings, and justifies the issuance of the writ. I n a f i ve - p a g e re s o l u t i o n , t h e Sandiganbayan’s Sixth Division pointed out that the subject amount, which was deposited with the PNB falls under the deposits covered by the Foreign Currency Deposit Act of the Philippines (FCDA). The anti-graft court pointed out that Section 8 of the FCDA expressly provides that all foreign currency deposits authorized under the FCDA shall be exempt from attachment. “Although there are laws that allow certain government agencies or bodies to inquire into or examine foreign currency deposits covered by the FCDA even without the written permission of the depositor, the subject amount placed in escrow with the

Typhoon. . . Continued from A4

Management Council (NDRRMC) reported. The agency said 677 passengers, 226 rolling cargoes, and four vessels were stranded as of early afternoon on Thursday. The Coast Guard (PCG) in Sorsogon has suspended all watercraft and vessel operations in the province on Thursday owing to the effects of Ada, the first severe weather disturbance to affect the country’s weather system this year. Lt. Ronnie Esparagoza, Sorsogon PCG commander, said the suspension is due to the tropical cyclone Wind Signal 1 raised over the province. The PCG-Bicol meanwhile activated the Deployable Response Group in preparation for Ada. The PCG-Bicol commander, Commo. Ivan Roldan, said all personnel and assets are on heightened alert to ensure readiness for maritime safety, search and rescue, and disaster response operations. Coordination with local governments and other concerned agencies has been intensified to ensure a timely and effective response. Roldan also advised mariners, fishermen, and coastal communities to closely monitor weather updates and strictly comply with safety advisories as weather conditions continue to develop.

DSWD on blue alert

THE Department of Social Welfare and Development (DSWD) has placed its operations

PNB does not fall under the provisions of the said laws that operate as exceptions to the application of Section 8 of the FCDA,” he added. The Sandiganbayan added that even if the said amount is not attached, there are safeguards to ensure that the said funds would not be disposed of to prevent the satisfaction of any judgment on the ill-gotten wealth case pertaining to the subject account. “The Escrow Agreement itself provides that the escrow funds may not be disposed without a final and enforceable judgement of the Sandiganbayan or of any competent cour t in the Philippines; or without the written and identical instructions received from both Spouses Romualdez and the Government of the Philippines, as represented by the PCGG [Presidential Commission on Good Government]; or without instructions from the PCGG, as approved in principle by the Spouses Romualdez,” the resolution read. The said bank deposits are among the assets of the late ambassador that were included in the forfeiture case filed against him and his wife. Based on the statement of account issued by the PNB, the net fund value of the escrow account held under the Romualdezes and the PCGG escrow amounts to P410 million. The amount came from Swiss Bank accounts which were turned-over to the Philippine government on December 28, 1998. Joel R. San Juan

on blue alert status on Thursday as it closely monitors the Ada-affected areas. Assistant Secretary Irene Dumlao, head of the DSWD’s Disaster Response and Management Group (DRMG), said the blue alert is the second level of storm readiness, during which emergency preparations are implemented in accordance with established response plans. “The entire DSWD, including our Field Offices, continues to prepare and coordinate with local government units along the projected path of Tropical Depression Ada. More than 2.7 million family food packs have already been prepositioned across the country to ensure the immediate delivery of assistance to affected families,” Dumlao said. Dumlao said the DSWD is also coordinating with port authorities and concerned local government units to ensure that locally stranded individuals will receive food assistance if necessary. “Due to adverse weather conditions, several local ports have suspended trips. Our field offices are already coordinating to assist should the need arise,” she said. Aside from food aid, the DSWD’s disaster response vehicles and equipment—including mobile kitchens, mobile water stations, and mobile command centers—are on standby and ready for deployment to affected areas as needed. Dumlao likewise urged the public to remain vigilant and heed advisories from authorities as the weather disturbance continues to affect parts of the country. With PNA

license of Mr. Atong Ang... which the Chief PNP approved,” the CIDG chief said. It was learned that Ang has six registered firearms. Ang is the lone accused still at large after his 17 co-accused were arrested by the CIDG on Wednesday. In the same press briefing, Remulla said Ang is now considered the “Number 1 Most Wanted Person” in the country owing to the kind of cases he is facing. The PNP at the same time placed all exit ports under heightened monitoring to prevent businessman Ang from leaving the country after an arrest warrant was issued against him. In a statement on Thursday, the acting PNP Chief, Lt. Gen. Jose Melencio Nartatez Jr. said he ordered intensified coordination with immigration authorities as part of the manhunt for Ang.

He said tracker teams and intelligence units have been activated to enforce the arrest warrant issued by the Branch 26 of the Regional Trial Court in Sta. Cruz, Laguna in connection with the case of missing cockfight enthusiasts. “The most logical option for him is to surrender because the PNP is determined to implement the court’s arrest warrant,” Nartatez said. The court ordered the arrest of 18 individuals: 10 police officers, one dismissed police officer and eight civilians, including Ang. “If he is truly innocent, as he claims, he should surrender and face the accusations against him,” Nartatez said. Remulla said Ang’s wealth and resources could allow him to hide, possibly on a remote island or in a mountainous area. He also said police are exercising caution, noting that Ang is considered dangerous and

is reportedly protected by at least 20 armed bodyguards. Remulla urged Ang to surrender and face the charges in court. “Mahirap labanan ang gobyerno ng Pilipinas, mahahanap at mahahanap ka [It is hard to fight the Philippine government; you will be found],” he said.

DOJ to Ang: Avail of legal remedies

THE Department of Justice (DOJ) on Thursday also tagged Ang as “fugitive from justice” after he failed to surrender to authorities despite the issuance of an arrest warrant against him by a Laguna court in connection with the missing sabungeros case. Prosecutor General Richard Anthony Fadullon called on Ang to submit himself under the jurisdiction of the court so he would be able to avail all legal remedies to prove

his claim that he is innocent of the charges filed against him. “Yes, he is already considered a fugitive from justice because the cases have been filed against him and there is already a warrant for his arrest,” Fadullon said. Fadullon also stressed that cour t proceedings against Ang’s co-accused who are now in the custody of authorities would proceed despite his absence. “As far as his co-accused who were arrested by the PNP [Philippine National Police] yesterday [Wednesday], the case will not be put on hold just because Mr. Atong Ang has not yet been arrested. It will proceed, it will move forward,” Fadullon said. “The accused who have already been arrested also have the right to a speedy trial. Therefore, this will proceed regardless of whether Mr. Atong Ang is arrested or not,” Fadullon stressed.

DOJ admits 3 ex-DPWH execs, contractor to WPS

HE Department of Justice(DOJ) has formally admitted as “state witnesses” under the Witness Protection Program (WPP) three former key officials of the Department of Public Works and Highways (DPWH) and a private contractor allegedly involved in the multi-billion peso flood-control scandal. At a press briefing, Prosecutor General Richard Anthony Fadullon identified the “state witnesses” as former DPWH Undersecretary Roberto Bernardo, former DPWH-National Capital Region (NRC) director Gerard Opulencia, former DPWH district engineer Henry Alcantara and SYMS Construction Trading general manager Sally Santos. On the other hand, Fadullon said the DOJ has denied the plea of DPWH engineers Brice Hernandez and Jaypee Mendoza to also become state witnesses. “Based on our evaluations and on the evidence submitted to us, they are not qualified to be state witnesses and to be discharged under the WPP,” Fadullon said. Hernandez and Mendoza have offered to return cash and several properties to the government as part of the “restitution” and in support of their application for WPP coverage. It may be recalled that Hernandez even surrendered several luxury vehicles to the Independent Commission for Infrastructure (ICI) as a sign of good faith. Fadullon refused to disclose the details for the denial of their WPP application but insisted that there was no necessity to place them under the WPP coverage. Justice Acting Secretary Fredderick Vida said the four state witnesses have so far returned a total of P316.351 million as part

Binaliw. . . Continued from A4

and caring for our common home. A zero-waste Sinulog is both possible and necessary—one that prioritizes waste reduction, bans single-use plastics, and promotes reuse, recycling, and composting,” she said.

New EMB R VII chief

ENVIRONMENT Secretary Raphael P.M. Lotilla has named lawyer John Edward T. Ang as the new Regional Executive Director of the Environmental Management Bureau (EMB) Region VII. Ang replaced Ma. Victoria V. Abrera, who was installed in 2023. It was not immediately known whether the change in leadership in the EMB is connected to the trash slide in Cebu City. Ang previously served in the EMB Central Office Legal Division and the Pollution Adjudication Board, bringing with him extensive experience in environmental regulation and enforcement. Lotilla ordered Ang to strengthen safety protocols and engineering controls across all waste and earth-moving facilities in the region, with particular attention to the stability of waste mounds during periods of heavy rainfall. He also acknowledged the rapid mobilization of Cebu City and the private sector, noting that their collaboration has been vital in stabilizing the situation. “The swift coordination of Cebu City and the readiness of our private partners to assist demonstrate the strength of collective action.”He added that this unified effort is essential to long-term reform. This collaboration is imperative as we work toward establishing a comprehensive waste management infrastructure that provides durable, long-term solutions for Cebu,” he noted. Jonathan L. Mayuga

DOH. . . Continued from A4

clear to the DOH that new guidelines they will release on Maifip will make it easier and faster to secure assistance, especially for the medical indigents, so patients and their families are eased such burden.” Hontiveros stressed that the reforms put in place by the 2026 budget, such as the “anti-epal” provision introduced by Senate President Pro Tempore Panfilo Lacson, must be sustained beyond the current fiscal year. To this end, Hontiveros said she is ready to begin the period of interpellations on Senate Bill 1593 or the proposed Universal Health Care Medical Assistance Program (UHC MAP) which will directly provide financial aid to hospitals and its patients. “Once this law is passed, then patients won’t have to ask for GLs from politicians. They will just apply with medical social workers in the hospitals and they will get help within 72 hours,” Hontiveros said. She urged for an end to the practice of “begging for GLs.”The assistance “our people need for treatment must go straight to them All those in need must get help/ No strings attached. No conditions. No lobbying.” Butch Fernandez

of their agreement with the justice department on restitution. The DOJ is expecting the four state witnesses to fulfill their commitment to return around P1.5 billion they allegedly pocketed from funds intended for floodcontrol projects of the government. As state witnesses, Vida said Bernardo, Alcantara, Opulencia and Santos would eventually be dropped as respondents in flood control cases being handled by the DOJ. “One of the rights of the state witnesses who are admitted into the program is to be discharged from criminal liability in the particular case they are helping us with. In the cases where they provided evidence that can be used by the State, those cases against them will be dropped,” Vida explained. “The rule of the Witness Protection Program is that if we need your testimony to further strengthen the state’s case so that we can win the case we are pursuing, then you

may be admitted,” he added. Bernardo has tagged Senator Francis Escudero, former senators Ramon Revilla Jr. and Nancy Binay, and former Party-list Rep. Zaldy Co of Ako Bicol as among those who benefitted from the anomalous flood control projects. Bernardo also tagged former Education Undersecretary Trygve Olaivar who allegedly called him in 2024 to discuss unprogrammed appropriations, allegedly for the Office of the Executive Secretary. During his testimony before the Senate, Alcantara named Revilla, Sen. Jinggoy Estrada and former Caloocan Rep. Mitch Cajayon-Uy as among those who received kickbacks from government projects. Alcantra also implicated Commission on Audit Commissioner Mario Lipana and his wife-contractor Marilou in the flood control mess. Vida said there are still 24 flood control-related cases still pending before the DOJ and three plunder cases filed against Co, Revilla and Estrada. Joel R. San Juan

TheWorld

Friday, January 16, 2026

Editor: Angel R. Calso

Iran closes airspace to commercial aircraft for hours as tensions with US remain high By Jon Gambrell

The Associated Press

UBAI, United Arab Emirates— Iran closed its airspace to commercial flights for hours without explanation early Thursday as tensions remained high with the United States over Tehran’s bloody crackdown on nationwide protests. The closure ran for over four hours, according to pilot guidance issued by Iran, which lies on a key East-West flight route. International carriers diverted north and south around Iran, but after one

extension, the closure appeared to have expired and several domestic flights were in the air just after 7 a.m. Iran previously shut its airspace during the 12-day war against Is-

rael in June and when it exchanged fire with Israel during the IsraelHamas war. However, there were no signs of current hostilities though the closure immediately rippled through global aviation because Iran is located on a key East-West route for airlines. “Several airlines have already reduced or suspended services, and most carriers are avoiding Iranian airspace,” said the website SafeAirspace, which provides information on conflict areas and air travel. “The situation may signal further security or military activity, including the risk of missile launches or heightened air defense, increasing the risk of misidentification of civil traffic.” Iran in the past has misidentified a commercial aircraft as a hostile target. In 2020, Iranian

PEOPLE take part in a rally in support of anti-government protests in Iran, in Berlin, Germany, Wednesday, June 14, 2026. AP/EBRAHIM NOROOZI

air defense shot down Ukraine International Airlines Flight PS752 with two surface-to-air missiles, killing all 176 people on board. Iran

for days adamantly dismissed allegations of downing the plane as Western propaganda before finally acknowledging it.

The airspace closure came as some personnel at a key US military base in Qatar were advised to evacuate. The US Embassy in Kuwait also ordered its personnel to “temporary halt” going to the multiple military bases in the small Gulf Arab country. T he U.N. Secur it y Counci l scheduled an emergency meeting on Iran at the request of the United States on Thursday afternoon. US President Donald Trump made a series of vague statements Wednesday that left unclear what American action, if any, would take place against Iran. In comments to reporters, Trump said he had been told that plans for executions in Iran have stopped, without providing many See “Iran,” A7

TheWorld

www.businessmirror.com.ph

Iran. . . Continued from A6

details. The shift comes a day after Trump told protesters in Iran that “help is on the way” and that his administration would “act accordingly” to respond to the Islamic Republic’s deadly crackdown. Iranian Foreign Minister Abbas Araghchi also sought to tone down the rhetoric, urging the US to find a solution through negotiation. Asked by Fox News what he would say to Trump, Araghchi said: “My message is: Between war and diplomacy, diplomacy is a better way, although we don’t have any positive experience from the United States. But still diplomacy is much better than war.” The change in tone by the US and Iran came hours after the chief of the Iranian judiciary said the government must act quickly to punish the thousands who have been detained. Activists warned that hangings of detainees could come soon. The security forces’ crackdown on the demonstrations has killed at least 2,615, the US-based Human Rights Activists News Agency reported. The death toll exceeds that of any other round of protest or unrest in Iran in decades and recalls the chaos surrounding the country’s 1979 Islamic Revolution.

Friday, January 16, 2026

Canada and China signal ‘turning point’ as Mark Carney begins landmark visit By Ken Moritsugu

The Associated Press

EIJING—On the first trip by a Canadian leader to China in eight years, both sides are signaling the start of an era of better relations.

China’s Foreign Minister Wang Yi, meeting his Canadian counterpart on Thursday, described Prime Minister Mark Carney’s visit this week as a turning point that is expected to open up new prospects for the relationship, a Chinese Foreign Ministry statement said. Anita Anand, the Canadian

foreign minister, told Wang that Carney looks forward to setting the course for the development of relations and restarting dialogue in various fields, the Chinese statement said. Carney, who became prime minister 10 months ago, is attempting to repair relations with China fol-

lowing several years of acrimony over issues ranging from Canada’s 2018 arrest of a senior Chinese tech executive to Canadian tariffs on China-made electric vehicles. Carney was holding talks later Thursday with Premier Li Qiang and meeting top leader Xi Jinping on Friday. His mission has been made more pressing by the higher tariffs imposed on exports to the United States by President Donald Trump. More than 75% percent of Canada’s exports go to the US, and Carney has set a goal of reducing that reliance by doubling Canada’s non-US exports over the next decade. “We’re ready to build a new partnership—one that builds on

the best of our past, and responds to the challenges of today,” Carney posted on X after his arrival in Beijing on Wednesday night. Canada, following the US lead, announced tariffs of 100% on EVs from China and 25% on steel and aluminum in 2024 under Carney’s predecessor, former Prime Minister Justin Trudeau. China responded by imposing duties of 100% on Canadian canola oil and meal and 25% on pork and seafood. It added a 75.8% tariff on canola seeds last August. Collectively, the import ta xes effectively closed the Chinese market to Canadian canola exports, an industr y group said. China is hoping that Trump’s

tariffs and other pressure tactics on Canada and other allies drive them to pursue a foreign policy that is more independent from America’s. The government in Beijing has often accused the US of rallying allies to gang up on China, particularly under former President Joe Biden, Trump’s predecessor. Canadian authorities incensed China in late 2018 when they detained Meng Wanzhou, the chief financial officer of Huawei Technologies Co., at the request of the United States, which wanted her extradited to face charges. China responded by detaining two Canadians on spying charges, casting a pall over relations for more than two years.

Venezuela’s acting president vows to continue releasing prisoners detained under Maduro By Regina Garcia Cano The Associated Press

ARACAS, Venezuela—Venezuela’s acting President Delcy Rodríguez said Wednesday her government would continue releasing prisoners detained under former President Nicolás Maduro’s rule in what she described as “a new political moment” since his ouster by the United States earlier this month. It appeared to be an understatement for the Maduro loyalist now tasked with placating an unpredictable American president who has said he will “run” Venezuela, while also consolidating power in a government that long has seethed against US meddling. Rodríguez opened her first press briefing since Maduro’s capture by US forces with a conciliatory tone. Addressing journalists from a red carpet at the presidential

palace in the capital, Caracas, she offered assurances that the process of releasing detainees—a move reportedly made at the behest of the Trump administration — “has not yet concluded.” The lawyer and veteran politician pitched a “Venezuela that opens itself to a new political moment, that allows for ... political and ideological diversity.” A Venezuelan human rights organization estimates about 800 political prisoners are still being detained. That figure includes political leaders, soldiers, lawyers and members of civil society.

‘Great conversation’

PRESIDENT Donald Trump said Wednesday he had a “great conversation” with Rodríguez, their first since Maduro was seized and flown to the US on Jan. 3 to face drug-trafficking charges. “ We had a call, a long call. We

discussed a lot of things,” Trump said during a bill signing in the Oval Office. “And I think we’re getting along very well with Venezuela.” Unlike past speeches directed at her domestic audience that echoed Maduro’s anti-imperialist rhetoric, Rodríguez did not mention the US — or the dizzying pace at which relations between both countries were evolving. But she criticized organizations that advocate on behalf of prisoners’ rights. She pledged “strict” enforcement of the law and credited Maduro with starting the prisoner releases as a signal that her government meant no wholesale break from the past. “Crimes related to the constitutional order are being evaluated,” she said, in apparent reference to detainees held on what human rights groups say are politically motivated charges. “Messages of hatred,

intolerance, acts of violence will not be permitted.” Flanked by her brother and National Assembly President Jorge Rodríguez, as well as hardline Interior Minister Diosdado Cabello, she took no questions. Cabello, she said, was coordinating the prisoner releases, which have drawn criticism for being too slow and secretive.

Walking a tightrope

TRUMP has enlisted Rodríguez to help secure US control over Venezuela’s oil sales despite sanctioning her for human rights violations during his first term. To ensure she does his bidding, earlier this month, Trump threatened Rodríguez with a “situation probably worse than Maduro,” who is being held in a Brooklyn jail. Maduro has pleaded not guilty to drugrelated charges. In endorsing Rodríguez, who served as

Maduro’s vice president since 2018, Trump has sidelined María Corina Machado, the leader of Venezuela’s opposition who won a Nobel Peace Prize last year for her campaign to restore the nation’s democracy. Machado is scheduled to meet with Trump on Thursday at the White House. After a lengthy career running Venezuela’s feared intelligence service, managing its crucial oil industry and representing the revolution started by the late Hugo Chávez on the world stage, Rodríguez now walks a tightrope, navigating pressures from both Washington and her hardline colleagues who hold sway over the security forces.

“The regime, on one hand, wants to send a message within Venezuela that it still has complete control and the United States isn’t dominating,” said Ronal Rodríguez, a researcher at the Venezuela Observatory in Colombia’s Universidad del Rosario. “On the other hand, internationally it’s sending a message of gradual progress with the release of political prisoners....They’re playing a game.” The Associated Press writers Isabel DeBre in Buenos Aires, Argentina, Megan Janetsky in Mexico City and Will Weissert in Washington contributed to this report.

Friday, January 16, 2026

Marcos eyes maritime leadership as PHL launches first methanol dual-fuel vessel By Samuel P. Medenilla @sam_medenilla

RESIDENT Ferdinand Marcos said the Philippines is now taking the lead in the global transition towards sustainable maritime transport with the inauguration of the first ever methanol dual-fuel Kamsarmax Bulk Carrier in Cebu last Thursday. The milestone, the Chief Executive said, is expected to bring more investments in the country’s shipbuilding industry, including sustainability-linked loans, green bonds, and climate finance. “ This achievement sends a clear message to the whole world: The Philippines is ready to lead

CITEM’s Likhang Filipino taps PHLPost as its official service delivery provider

HE Center for International Trade Expositions and Missions (CITEM) has partnered with the Philippine Postal Corporation (PHLPost) to serve as an Acceptance Post Office (PO) for Express Mail Service (EMS) shipments to consumers participating in Likhang Filipino, showcasing the best of Filipino design, creativity, and craftsmanship to the world which will open on January 15, 2026. Through this initiative, PHLPost will bring the best of the Philippines abroad by facilitating the efficient acceptance and processing of EMS parcels from local artisans and producers. This collaboration aims to support local consumers to ship their items by providing them with reliable, secure, and globally connected courier services for their products. As the designated Acceptance Post Office, PHLPost Mega Manila Area will ensure streamlined processing, proper documentation, and timely dispatch of EMS shipments, enabling participants to reach both local and international markets more effectively. “This initiative strengthens our commitment to empower Filipinos to promote and ship homegrown products on the global stage,” Acting Postmaster General and CEO Maximo C. Sta. Maria III said. “By providing accessible and dependable logistics services, we help bridge local craftsmanship to international opportunities.” CITEM’s Likhang Filipino program continues to champion Philippine creativity, craftsmanship, and innovation. With PHLPost’s EMS services, participating consumers and producers are assured of fast, trackable, and secure delivery of their goods worldwide. This PHLPost partnership reflects the government’s continued efforts to boost trade, support micro, small, and medium enterprises (MSMEs), and promote Filipinomade products across borders.

in the global transition towards low-carbon and sustainable maritime transport,” Marcos said in his speech during the naming and delivery ceremony of the new vessel. Named as Brave Pioneer, the first ever completed K AMSARMAX Vessel SC-443 was developed and built through the joint initiative of the Tsuneishi Group and the Aboitiz Group. The design of the ship reduces its carbon dioxide emission by 10 percent, nitrogen oxides by 80 percent, and sulfur oxides by 99 percent compared to conventional models It is equipped with engines and fuel systems that allow it to run on methanol and conventional

marine fuel such as heavy fuel oil. Marcos said he expects a high demand for the new sea vessel as the International Maritime Organization decarbonization targets low-emission and alternative-fuel vessels. “Philippine shipyards that can deliver these vessels gain access to premium international markets,” he said. The growth in the local shipping industry will also expand to ancillary industries such as advanced marine components, coatings, materials, and energyefficient systems and boost the country’s manufacturing ecosystem, according to Marcos. Based on government data, the country has over 130 registered

shipyards nationwide employing over 11,000 workers as of November last year. Marcos has vowed to maintain a business-friendly environment for shipbuilders through policies such as the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law, “which provide fiscal and non-fiscal incentives to encourage modernization, the adoption of low-carbon technologies, and higher-value manufacturing.” “By continuing to invest in green technologies and advanced manufacturing, we are shaping the Philippines into a futureready maritime hub that can meet the evolving demands of global trade,” he said.

House leader urges Senate to prioritize school voucher bill for poor, middle-class students By Jovee Marie Dela Cruz @joveemarie

H E chairperson of the House Committee on Higher and Technical Education on Thursday called on the Senate to prioritize the passage of a House-approved bill that seeks to expand access to quality education in private schools for students from poor and middleincome families. The measure establishes a governmentfunded voucher program to help financially disadvantaged students enroll in private basic education institutions. “I appeal to our counterparts in the Senate to give priority to this measure so that more of our deserving children from financially-distressed families can enroll in private schools through a governmentfunded voucher program,” TINGOG Partylist Rep. Jude Acidre, chairperson of the House Committee on Higher and Technical Education, said. “Education will empower them to get themselves and their families out of poverty, and to help others and their

communities,” he added. House Bill 4744, principally authored by Leyte Rep. Ferdinand Mar tin G. Romualdez, was approved by the House of Representatives on third and final reading in October and was immediately transmitted to the Senate for its consideration. The measure is among the priority bills of the Marcos administration under the Legislative-Executive Development Advisory Council (LEDAC). HB 4744 expands government assistance under Republic Act No. 6728, or the Government Assistance to Students and Teachers in Private Education Act, by institutionalizing a private education voucher program covering all levels of basic education—from kindergarten to senior high school. Under the bill, voucher assistance may be granted to students from middle-income families and below, as determined by the Philippine Statistics Authority (PSA), who come from congested public schools identified by the Department of Education (DepEd), live in areas with overcrowded schools, or reside in communities without

a nearby public school and wish to enroll in private basic education institutions. Students from “most vulnerable” and “underprivileged” families may receive higher levels of assistance, with these categories to be defined by DepEd in the implementing rules and regulations. The bill also mandates DepEd to select participating private schools based on set criteria and to provide parents and students the option to choose their preferred schools from an official list, subject to available slots. Participating schools must be reimbursed by DepEd within 60 days upon submission of complete supporting documents. In addition, the bill provides support for teachers in participating schools through training programs, scholarships, research grants, and professional development initiatives. It also grants DepEd the option to propose a government-funded salary subsidy for teachers involved in the program. HB 4744 calls for the creation of a Bureau of Private Education under DepEd to oversee all programs, policies, and concerns related to private basic education.

LTFRB suspends EV ride-hailing service for 30 days following sexual harassment allegation

HE Land Transportation Franchising and Regulatory Board (LTFRB) has suspended for 30 days the operation of an electric vehicle ride-hailing service after its driver was accused of sexual harassment by a female passenger. “This is not acceptable. We already issued a show cause order and I will personally monitor the conduct of the investigation of this case,” said LTFRB Chairperson Atty. Vigor D. Mendoza. The show-cause order (SCO) was issued

against the Green and Smart Mobility Philippines, Inc. (Green GSM), which was also ordered to present the driver before the LTFRB. The operator was also asked to explain within five days from the receipt of the SCO to explain why its Certificate of Public Convenience should not be cancelled. Moreover, the driver will undergo compulsory drug testing to be conducted by an authorized accredited agency of the Department of Health and the Land Transportation Office (LTO).

“We assure the victim and his family and friends na hindi namin palalagpasin ito,” Mendoza added. Green GSM said it has already suspended the driver, who repeatedly asked the female passenger inappropriate questions. Meanwhile, the LTO on Thursday reassigned the Regional Directors of LTO Regions 7 and 4B to the LTO Central Office in Quezon City. See “LTFRB,” A9

DA bets on redclaw crayfish as sustainable growth driver By Ada Pelonia @adapelonia

HE Department of Agriculture (DA) is banking on redclaw crayfish to boost the country’s local aquaculture sector. Agriculture Secretary Francisco Tiu Laurel Jr. on Thursday led the ceremonial stocking of 14,000 craylings in Muñoz, Nueva Ecija. This launched an onfarm verification trial to determine if raising redclaw crayfish in Philippine freshwater ponds makes commercial sense, with hopes that the high-value species could reshape local aquaculture. “We want our farmers to grow profits, not just crops,” Tiu Laurel was quoted in the statement as saying. “With proper observance of good aquaculture practices and biosecurity measures, the culture of Redclaw crayfish offers huge potential that could sustainably transform fish farming in the Philippines,” he added. The project, implemented by the Bureau of Fisheries and Aquatic Resources (BFAR) with private-sector partners, was formalized in 2025 through the agency’s Administrative Circular 001. The circular has set the country’s first national rules for culturing Australian redclaw crayfish. Broodstock and craylings should come from certified local hatcheries or BFAR facilities,

keeping biosecurity risks in check. Furthermore, at the heart of the effort is BFAR’s prototype hatchery at the National Freshwater Fisheries Technology Center. Thirty female and 10 male breeders anchor the program, supported by 200 future breeders, producing up to 5,000 craylings per cycle over three to five cycles a year. Another 300 craylings are earmarked for tank-based trials. In Nueva Ecija, the DA explained that the test will run for four to five months across four ponds. Two stocking densities—10 and 15 crayfish per square meter—will be tested. “Survival, growth, feed efficiency, and returns will decide whether the species can thrive commercially.” If found successful, BFAR will roll results into full technology demonstrations, packaging protocols for farmer training, and wider adoption in suitable inland areas. “The project signals a careful, strategic approach. Redclaw crayfish fetch premium prices, but they also carry ecological and market risks,” the DA said. “By emphasizing biosecurity, controlled trials, and private-sector partnership, the DA is signaling a new aquaculture playbook—value, sustainability, and discipline over rapid, unregulated growth.”

DAR chief to showcase land reform gains ‘26 investment roadmap at high-level dialogue

EPARTMENT of Agrarian Reform (DAR) Secretary Conrado M. Estrella III will present the Department’s major land reform accomplishments and forward-looking, investment-oriented reforms that directly benefit Agrarian Reform Beneficiaries (ARBs) during a high-level dialogue in Manila on Friday. Dubbed the “Big Bold Reforms: The Philippines 2026,” the dialogue was jointly organized by the Department of Finance (DOF) and the Bangko Sentral ng Pilipinas (BSP) will convene key officials of President Ferdinand Marcos’ Cabinet, heads of government agencies, and top leaders from the business community. The DAR sees the dialogue as a platform for the national government to engage stakeholders on economic priorities, clarify policy directions, and strengthen investor confidence while advancing inclusive growth. Estrella is expected to anchor his presentation on the DAR’s strong performance in 2025, underscoring how agrarian reform continues to improve the lives of ARBs by securing land tenure, expanding economic opportunities in rural communities, and supporting national food security. Since Secretary Estrella’s assumption from July 2022 to December 2025, the DAR distributed 394,147 land titles covering 532,514 hectares, directly benefiting 362,715 agrarian reform beneficiaries nationwide. By securing ownership of the land they till, ARBs gain stronger access to credit, government support services, and agribusiness partnerships that raise farm productivity and household income.

To further support ARBs and reduce the cost of doing business in rural areas, the Department completed 213 irrigation projects, constructed 344 farm-to-market roads, and delivered 7,583 farm machines, equipment, and support facilities. These interventions improved farm efficiency, lowered post-harvest losses, and strengthened ARBs’ participation in agricultural value chains. Estrella will outline concrete and actionable reforms for 2026 that aim to make agriculture more investment-ready while protecting farmers’ rights. These reforms include easing business processes in agriculture, promoting land consolidation arrangements that benefit ARBs, and ensuring policy stability—critical factors in attracting sustainable domestic and foreign investments. A key policy issue to be addressed is the 5-hectare landholding limit under Republic Act No. 6657, or the Comprehensive Agrarian Reform Law. Secretary Estrella will assure stakeholders that the DAR, in close coordination with the Department of Justice (DOJ) and the Land Registration Authority (LRA), is actively resolving legal and registration issues related to land consolidation to enable larger-scale, more efficient farming systems that include ARBs as partners and beneficiaries. Recognizing that this concern requires legislative action, the DAR under Secretary Estrella’s leadership will take decisive steps in See “DAR,” A9

Friday, January 16, 2026

Plunder, graft complaint filed vs Recto, Ledesma anew before Ombudsman over ₧60-B PhilHealth’s fund transfer By Joel R. San Juan @jrsanjuan1573

NOTHER criminal complaint was filed on Thursday before the Office of the Ombudsman against Executive Secretary Ralph Recto and former chief executive officer and president of Philippine Health Insurance Corporation (PhilHealth) Emmanuel Ledesma Jr. in connection with the transfer of the state insurer’s excess funds to the national treasury amounting to P60 billion to fund unprogrammed appropriations in the 2024 General Appropriations. The complainants, composed of medical doctors and lawyers led by Dean of the Graduate of Law School of San Sebastian College

Rodel Taton, sought Recto and Ledesma’s indictment for plunder, graft, technical malversation and grave misconduct. A similar complaint was filed by the members of the members of the socalled Save the Philippines Coalition (SPC) against Recto and Ledesma before the Ombudsman last December. Both complaints were filed following the Court’s ruling issued on December 6 which declared Special Provision No. 1 (d) of XLIII of the General Appropriations Act (GAA) of 2024, and Department of Finance Circular No. 003-204 as “unconstitutional.” The DOF circular directs the transfer of unused subsidies from government-ownedand-controlled corporations (GOCCs), spe-

DOLE urged to lift AJ in CEU bargaining dispute

LABOR group is urging the Department of Labor and Employment (DOLE) to lift its assumption of jurisdiction (AJ) over the ongoing bargaining dispute at Centro Escolar University (CEU), citing its effect on the strike plan of faculty and employees. The Center for Trade Union and Human Rights (CTUHR) said on Thursday that Labor Secretary Bienvenido E. Laguesma’s injunction order was a “violation” of the CEU workers’ right to strike. “It [AJ order] is an overly broad power that curtails workers’ rights to hold a strike and therefore weakens their right to collectively bargain,” CTUHR said. “How can workers effectively fight for their labor rights if the strike, one of their most potent weapons for advancing their rights, is always thwarted by the government? Yet in history and based on experience, it is extremely rare for employers to raise workers’ wages and advance labor rights on their own; workers have to fight for these.” Records from CTUHR showed the negotiations between the CEU Faculty and Allied Workers Union (FAWU) and the management for the 2025 to 2030 collective bargaining agreement entered a deadlock on September 25 last year.

Remittances. . . Continued from A1

With the average Philippine peso-US dollar exchange rate being P58.69 in November 2025, the lowest for the year, Opiniano said this supported Filipinos abroad to send more money back home. Cash remittances peaked at $34.49 billion in 2024, the highest amount recorded based on available records since 1970. “Amid the fears of a recession brought about by Donald Trump’s tariffs on all countries, Filipinos in the US still remitted more in these past 11 months over the same period last year,” Opiniano told BusinessMirror.

1-percent remittance tax

WHILE the 1-percent tax on remittance transactions may and may not reduce dollar flows, Opiniano said what is certain is that sending money from the United States will become more expensive. B r i n g i n g d ow n re m i t t a n ce co s t s globally may also not be a commitment of the current United States government, Opiniano added. The United States began imposing a 1-percent tax on remittances sent from America to other countries on January 1, 2026. “Nevertheless, a 1-percent tax may yield a slight hiccup in the cash remittance flows

DAR. . . Continued from A8

2026 to engage legal experts, legislators, and key stakeholders to advance reforms on the 5-hectare landholding limit. The Department will lead focused consultations to craft a clear and credible legislative pathway that balances agrarian equity, farmer empowerment, and

The union sought a P2,500 salary increase, health and retirement benefits, a signing bonus, and expanded calamity and emergency financial assistance. CEU countered with a P650 across-theboard increase during a conciliation conference presided over by DOLE on January 12. The CEU-FAWU was supposed to hold a strike on January 15, almost a month after it conducted a strike vote, but the DOLE issued the AJ order. Under the AJ order, the union is required to maintain the status quo and suspend all strike-related activities, while the university administration is prohibited from declaring a lockout. The CTUHR, however, pointed out that workers still need to return to work with the fear of facing “retrenchment, criminal charges, the repressive force of the police and the military, or all of these.” The group also urged the CEU administration bargain in good faith with the union and uphold their labor rights. “Faculty and staff ’s working conditions are students’ learning conditions, and CEU has a responsibility to advance the labor rights of its faculty and staff, for its students and for improving college education in general,” it added. Justine Xyrah Garcia from the US financial system. Therefore, cash remittances from other destination countries may compensate for the lower cash flows from the United States,” Opiniano said.

‘Use of remittances matters more’

BEYOND cost considerations, Opiniano said the focus should be on how remittances are used. “We worry more on the use of the remittances more than the cost. Even Filipinos won’t mind sending money to more expensive but swift remittance channels like Western Union,” Opiniano noted. “ The use of the money beyond consumption and saving—especially given the financial wrath that COVID-19 wrought—is the thing to watch out for, more than worrying whether cash remittances will again save the day for the country’s financial system,” Opiniano added.

Personal remittances

M E A N W H I L E, BSP data also showed personal remittances increased by 3.2 percent to $35.73 billion from January to November 2025, from $34.61 billion a year ago. Personal remittances cover cash sent through banks and informal channels, as well as remittances in kind. In November alone, personal remittances went up by 3.6 percent to $3.23 billion from the previous year’s $3.12 billion.

sustainable investment growth. The high-level dialogue seeks to boost optimism, improve business sentiment, and promote investments that generate jobs and inclusive development. Participating officials are expected to present measurable outcomes, time-bound targets, and clear policy commitments aligned with the President’s economic agenda and vision for inclusive and sustainable growth. Jonathan L. Mayuga

cifically PhilHealth, to the national treasury to bolster the government’s unprogrammed appropriations. It was issued in line with Section 1(d) of XLIII of the GAA 2024 which states that “unprogrammed appropriations shall be sourced from any remainder resulting from the review and reduction of the GOCC’s reserve funds to reasonable levels taking into account the disbursements from prior years.” Taton and the other complainants insisted that the transfer violated Republic Act 7875, or the National Health Insurance Act of 1995, and Republic Act 11223, or the Universal Health Care Act. “Notwithstanding their full awareness of these explicit prohibitions under

the law, the respondents deliberately, willfully, and maliciously, acting with evident bad faith, dishonesty, and grave misconduct, unlawfully and intentionally caused the transfer of P60 billion in PhilHealth reserve funds to the National Treasury,” the complainants said. “Their act, thereby, caused substantial damage and serious prejudice to the Government and the Republic of the Philippines, the members of PhilHealth and most especially, the general public,” they added. The complainants pointed out that Recto and Ledesma are liable for technical malversation being public officers. Likewise, the complainants said they should also be held for plunder, “because of

a persistent pattern of transferring [excess)] reserve funds from GOCCs such as PhilHealth when ghost and substandard projects are prevalent funded through unprogrammed appropriation.” Furthermore, the complainants said the amount involved is far more than the threshold amount of P50 million as provided under the Anti-Plunder Act. Meanwhile, Recto said the government has fully complied with the Supreme Court (SC) ruling on the transfer of PhilHealth and maintained that he is not liable for any criminal liability. “Let me also reiterate my innocence, as opined by SC Justices, that no criminal liability may attach to me, as former Secretary of Finance, for acting in good faith

and in accordance with a direct mandate from Congress in ordering the remittance of PhilHealth’s unused funds,” he said. Recto, who was finance secretary at the time of the fund transfer, maintained that he acted in good faith and under congressional authority. “We respect the right of any individual or group to seek legal remedies and to avail themselves of the processes provided under our laws,” Recto said in a statement. In its December 6 ruling, the Court did not rule on the alleged liability of Recto for technical malversation and plunder. The High Tribunal held that such matters are improper for resolution in this case.

Saving millions: Comelec signs deal for first phase of permanent home By Mary Jade Jadormio

FTER spending nearly P200 million a year on rent, the Commission on Elections (Comelec) signed a construction contract with Monocrete Construction Philippines for the first phase of its own building. Comelec Chairman George Garcia said the signing marks a milestone for the poll body, which has operated without a permanent headquarters for decades, despite its constitutional mandate. “This was something we only saw on drawings before,” Garcia said, referring to the project that many within the commission once

believed would never materialize. The project will be implemented in phases, with Phase 1 covered by the newly signed contract and a proposed second phase expected to house a data center and additional internal facilities. Garcia underscored that the Comelec, which he said stands on equal footing with institutions such as the Supreme Court, Congress, and the Office of the President, has long functioned without its own building. “We protect democracy, we ensure the continuity of our democracy, tapos wala kang sariling building,” Garcia said. According to Garcia, the lack of a permanent headquarters has affected both the

main office and field offices, many of which operate in rented spaces with limited control over utilities, storage, and working conditions. He said Comelec spends close to P200 million annually on office and warehouse rentals nationwide, even as it manages national and local elections that can cost as much as P40 billion to conduct. With nearly 7,000 personnel deployed across the country, Garcia said that space limitations have constrained staffing expansion and the proper storage of election machines and related materials. The new building, he said, is expected to centralize offices, provide adequate storage facilities, and reduce the commission’s reliance

on hotels and convention centers for official activities. Garcia said construction of the first phase is targeted to be completed within 18 to 20 months, with the goal of transferring to the new headquarters in Pasay City within his term. He assured the public that strict procurement and oversight mechanisms are in place, stressing that the commission intends to ensure that public funds are spent properly to secure approval for succeeding phases. Garcia described the project as a longawaited institutional gain for Comelec employees and officials, many of whom retired without seeing the realization of a permanent home for the commission.

Beware of ‘hot lahar’ as TD Ada, rainfalls interact with ‘restive’ volcanoes—Phivolcs By Jonathan L. Mayuga @jonlmayuga

HILE they will have minimal to no effect on the “restiveness” of volcanoes, storms and heavy rainfall may, however, trigger ‘hot lahars’ that double the danger for the communities, especially those in low-lying areas or near rivers from atop the erupting volcanoes, an official of the Philippine Institute of Volcanology and Seismology (Phivolcs) said. Phivolcs is currently closely monitoring four restive volcanoes—Mayon in Albay, which is currently under Alert Level 3, Kanlaon in Negros Island, under Alert Level 2, Taal in Batangas, and Bulusan in Sorsogon, both under Alert Level 1. Tropical Depression Ada, which is expected to induce rain, is forecasted to pass through some of these areas in the next few days, the Philippine Atmospheric Geophysical and Astronomical Services Administration (PAGASA) reported. The Philippines has experienced excessive rainfall over the past decade, which scientists attributed to the changing climate or the effect of climate change. A longer wet season is also experienced during the so-called La Niña phenomenon, which triggers landslides, flashfloods, and widespread flooding.

‘Zero to minimal effect’

“IT will have minimal to zero effect. Magma is extremely hot. Rainwater sifting on the

ground does not directly interact with the magma,” she said in Filipino. She said only hot vapor from the magma interacts with a lot of rainwater. The volume of hydrothermal steam may increase and contribute to minor eruptions or steam-driven eruptions. “But during eruption, like what is happening at Mayon, rain is not a significant factor, but the movement of the magma itself. It can induce steam-driven eruption but that is it,” she said.

Syn-eruption lahar

A MORE serious impact of heavy rain interacting with an eruptive volcano, she said, is syn-eruption lahar or hot lahar. A syn-eruption lahar is a dangerous volcanic mudflow that happens during or immediately after a volcanic eruption, triggered by the eruption’s heat or explosion, mixing volcanic debris, ash, rock, and water such as rain, snow, ice, or crater lake water. Lahar, she said, is very deadly because it can flush big boulders of rock down rivers and streams. Syn lahar is deadlier, because they are extremely hot lahar with boulders of rock flowing down rivers or streams from the crater or hills of the volcano.

Mayon crater glow

MAYON’S volcanic activity over the past 24 hours ending on Thursday is characterized by lava dome and lava flow effusion. Crater glow remains visible to the naked eye from a distance, Phivolcs reported.

Phivolcs said it has recorded 207 rockfall events and 27 pyroclastic density currents during the 24-hour monitoring period. On January 14, some 987 tons of sulfur were emitted by Mayon’s crater, while plume emission reached 800 meters above the crater. Mayon’s volcano edifice remains inflated, indicating magmatic activity. Entr y into the 6-kilometer radius Permanent Danger Zone (PDZ) and entry without vigilance into the Extended Danger Zone (EDZ), and flying of aircraft near the volcano are prohibited.

security of Bicolanos during calamities. Mayon Volcano remains at Alert Level 3 with high levels of activity, including two recorded volcanic earthquakes, 209 rockfall events, and 46 pyroclastic density currents or uson. According to the National Disaster Risk Reduction and Management Council (NDRRMC), a total of 1,132 families or 4,144 persons were affected in Albay. Of the number, 1,117 families or 4,095 persons are being served inside 13 evacuation centers, and 15 families or 46 persons are being served outside evacuation centers.

DSWD puts up modular tents in Albay

Kanlaon: 78 volcanic earthquakes

THE Department of Social Welfare and Development (DSWD) said it has put up modular tents to augment the capacities of evacuation centers in Albay. At least 25 DSWD Family tents were established at the San Jose Evacuation Center in Malilipot, and ten new modular tents were set up at the Buang Evacuation Center in Tabaco City. DSWD Regional Director Norman Laurio said this would ensure the protection and well-being of families. A team also monitors the implementation of its mobile water stations, mobile kitchens, tent city, and emergency vehicles from the Red Cross. Families are given hot meals in collaboration with the local government unit of Malilipot. Laurio said the agency and its resources would be directed toward maintaining the

COC filing for Antipolo special polls set on Feb. 5 By Justine Xyrah Garcia

HOSE seeking to fill the vacant second congressional seat of Antipolo City may file their certificates of candidacy (COC) from February 5 to 7, the Commission on Elections (Comelec) said. In Resolution No. 11185, made public late Wednesday, the Comelec released the calendar of activities for the March 14 special manual elections in the city’s second district. The seat was vacated following the death of Rep. Romeo M. Acop in December. After the COC filing, the election period will begin on February 12 and run until March 29, during which a gun ban and similar security restrictions will be enforced in the district. During the same period, the Comelec

will prohibit the unauthorized use of security personnel and precinct alterations, along with fundraising activities tied to the elections and any betting on poll outcomes. Restrictions will also cover the transfer of government personnel, the suspension of elected officials, and the release of prisoners, while barring the formation or deployment of private armed groups to influence the results. The official campaign period will run from February 12 to March 12, with additional bans on certain government activities from February 12 to March 13. These include restrictions on the release or spending of public funds and the construction or delivery of public works; and the hiring, creation of positions, promotion, or granting of pay or benefits in the government. The Comelec said there will also be an

absolute ban on the release of government aid—including funds from programs such as Assistance to Individuals in Crisis Situation (AICS), Ayuda para sa Kapos ang Kita Program (AKAP), and Tulong Panghanapbuhay sa Ating Disadvantaged/ Displaced workers (TUPAD)—starting ten days before election day. Voting will take place on March 14 from 7:00 a.m. to 3:00 p.m. The poll body earlier said it would need P98.7 million to conduct the special elections in Antipolo, funds it has yet to secure. The second legislative district of Antipolo—covering the eastern barangays of Calawis, Cupang, Dalig, Inarawan, San Jose, San Juan, San Luis and San Roque—has roughly 300,000 registered voters, making it the country’s largest congressional district in terms of electorate size.

AT Kanlaon, Phivolcs said the 24-hour monitoring at Kanlaon recorded a total of 78 volcanic earthquakes. Kanlaon also emitted 1,496 tons of sulfur dioxide on Wednesday, but the plumes spitted out is weaker compared to the past few days. Kanlaon, a stratovolcano, is highly unpredictable. Unlike Mayon, which is also a stratovolcano, Kanlaon, which is an older volcano, has no historical record to be a basis for predicting its behavior, says Bornas. She said the volcano’s alert status may change at any time once minor eruptions begin. Phivolcs maintains that entry into the 4-kilometer PDZ of Kanlaon and flying of aircraft near the volcano are prohibited. Two other volcanoes—Taal in Batangas and Bulusan in Sorsogon are being closely watched. Both are currently under a low level of unrest. with PNA

LTFRB. . . Continued from A8

The move comes in the wake of allegations of corruption against the involved officials. LTO Chief Markus V. Lacanilao said the agency is committed to upholding integrity and accountability across all levels of operation. “This reassignment is a clear signal of our resolve to pursue justice without compromise—we will not allow any individual to hinder efforts to cleanse our ranks and restore public trust in the LTO’s services.” Lacanilao emphasized said his office will continue to prioritize institutional reforms and enforce stringent measures to eliminate unethical practices within the organization. The investigation will be carried out by designated oversight within the transportation department, with findings to be publicly released upon completion. Lenie Lectura

A10 Friday, January 16, 2026 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Tourism’s fiscal cliff: The economic cost of taxing the digital travel economy

HE Philippine tourism industry has been handed a map that leads toward a potential cliff. The BIR’s Revenue Memorandum Circular No. 5-2024, which seeks to impose a 25-percent final withholding tax and a 12-percent VAT on cross-border services, is a fiscal maneuver that risks sacrificing long-term economic growth for short-term revenue collection. (Read the BusinessMirror story: “BIR’s tax rule raises cost of PHL tourism for visitors,” January 13, 2026). At the heart of the issue is the taxation of Non-Resident Foreign Corporations—the digital engines of modern travel, such as online booking platforms, international tour operators, and global reservation systems. By classifying services performed abroad as taxable in the Philippines simply because the “results” are consumed here, the BIR is effectively raising a “toll” on every digital transaction that brings a foreign visitor to our shores. The logic of the tax office is clear: to capture revenue from the digital economy. However, the economic reality is far more complex. As tourism stakeholders and business groups have rightly pointed out, foreign service providers are unlikely to simply absorb a 37-percent tax hit. Instead, the burden will follow the path of least resistance. In the first scenario, these platforms will increase their commissions. A hotel that previously paid a 20-percent commission to a site like Booking.com will see that rate hiked to cover the new tax. To maintain their own margins, hotels will then be forced to raise room rates. In the second scenario, Philippine businesses—acting as withholding agents—will be forced to “gross up” payments, shouldering the tax themselves to keep their international partners “whole.” Either way, the end result is the same: the Philippines becomes more expensive. This comes at a time when the Department of Tourism is aggressively chasing a target of 6.7 million foreign visitors for 2026. Even before this tax circular, the Philippines struggled with the perception of being a “high-cost” destination compared to regional neighbors like Thailand or Vietnam, primarily due to elevated airfares and electricity costs. Imposing a substantial tax on the platforms that enable global bookings is like placing obstacles on a racetrack and then expecting the runner to increase their speed. Furthermore, the joint appeal from the country’s largest business groups —including the PCCI and MAP—highlights a chilling effect on foreign investment. If the tax environment is perceived as prohibitive or prone to double taxation, foreign entities will simply look elsewhere. In the global tourism market, where travelers are highly price-sensitive and have a lot of choices, the Philippines cannot afford to be the “expensive” option by design. The formation of a technical working group between the DOT and the BIR is a necessary first step, but it must be more than a bureaucratic exercise. There is an urgent need for “sector-specific guidance” that recognizes the unique nature of the travel trade. Tourism is not just another service; it is an export industry where the “product” is the country itself. The government must decide which is more valuable: the immediate collection of withholding taxes from foreign tech firms, or the billions of dollars in foreign exchange and millions of jobs generated by a thriving, competitive tourism sector. Fiscal policy should support national goals, not undermine them. If the BIR persists in its current trajectory without providing relief or exemptions for the tourism value chain, the “Love the Philippines” campaign may find itself silenced by the high cost of the visit. We must ensure that in our haste to tax the digital economy, we do not inadvertently tax our tourism industry into irrelevance.

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Explaining the peso depreciation Dr. Geoffrey Ducanes

EAGLE WATCH

HE Philippine peso hit a historical low closing price of P59.44 per dollar on Wednesday, continuing a trend of depreciation since the beginning of the year.

Exchange rates are notoriously difficult to predict. In empirical models used to forecast the path of the economy, usually called macroeconometric models, the exchange rate is typically treated as an exogenous variable, meaning its future values are assumed rather than forecasted. In its most recent economic growth forecasts, the government, via the Development Budget Coordination Committee, assumed the exchange rate to hover between P56 and P58 from 2026 to 2028, a level already breached. Some researchers from local private bank institutions and investment houses predict the exchange rate will remain above P59 per dollar for the remainder of the year. The exchange rate is the price of one currency in terms another currency. Because it is a price, supply and demand conditions determine its level. One model that tries to explain exchange rate movements is purchasing power parity. The idea is that, everything else remaining the same, the exchange rate should move so that a given basket of goods cost the same in both countries when ex-

pressed in one or the other currency. The implication of this is that the country with the higher inflation should expect its currency to depreciate relative to the other country. The purchasing power parity model is not adequate to explain recent peso-dollar exchange rate movements because Philippine current and immediate future inflation is even slower or expected to be slower than US inflation. Another model that tries to explain exchange rate movements is interest rate parity. Here, the idea is that investors compare interest returns on safe assets in two countries and place their money on the country with the higher interest return after controlling for risk. Persistent demand for the currency of the country that offers the higher return will drive that currency to appreciate. Note that there are two factors in play under this model, the interest rates and the risk level. While the Philippines offer higher interest rates than the US, it is also generally viewed as riskier, like all emerging economies. US Treasury bills are generally viewed as among the safest, if

not the safest, financial investments that can be made. This model offers a better explanation than purchasing power parity for the current exchange rate movement. Global uncertainty triggered by geopolitical (wars and tariffs) and other issues, such as the US Federal Reserve decision on further rate cuts, have increased perceived economic risks, particularly in emerging economies, that is perhaps pushing investors into dollars as safe-haven assets, strengthening the dollar. But note that this explanation would work for the Philippines and Indonesia, which have experienced currency depreciation in the beginning of 2026, but not for Malaysia, Thailand, and Singapore, whose currencies have either remained stable or even appreciated. Other demand and supply factors, apart from price levels and interest rate, influence the exchange rate. On the one hand, higher current and expected remittances, business process outsourcing revenues, exports, foreign tourist arrivals, and foreign investments would all increase the foreign currency supply, which will tend to push the peso towards an appreciation. Good economic prospects could be expected to attract higher foreign investments leading to higher demand for the domestic currency. On the other hand, higher imports, outbound tourism, and outgoing investments, would increase foreign currency demand and tend to push the peso towards a depreciation. Remittances from overseas Filipinos have been a steady source of foreign currency for the country for a long time now. For sure, without the steady stream of remittances, the pressure for the peso to depreciate

would be much stronger. While remittances push the currency towards an appreciation, households that receive remittances may actually benefit from the depreciation of the peso. Based on the latest data from the Philippine Statistics Authority, almost 30 percent of Philippine households receive remittances from abroad. Of the total Philippine households, more than 7 percent reported having at least one OFW member and these households could be expected to receive higher amounts of remittances. Only those who receive remittances in a depreciated peso will benefit; not everyone will gain from this. For instance, households that receive remittances in US dollars will experience an increased amount of peso remittances because of depreciation. Of course, not all remittances are sent in US dollars, although remittances are typically reported by the Bangko Sentral ng Pilipinas in terms of US dollars. Many overseas Filipino workers work in countries where they are not paid in US dollars but in other currencies. If there is no appreciation of these currencies against the peso, there is no gain for them from the peso depreciation against the US dollar. One hope is that higher income from the households who benefit from the peso depreciation, which would also include exporters and tourism services providers, would help boost consumption, which was relatively anemic in the last quarter of 2025. Dr. Geoffrey Ducanes is Associate Professor at the Ateneo de Manila University and the Director of the Ateneo Center for Economic Research and

Alibaba takes major step to link shopping to main AI app By Luz Ding

LIBABA Group Holding Ltd. plans to link its flagship online shopping and travel services to its AI app, taking its biggest step yet to build Qwen into its one-stop artificial intelligence platform for consumers.

China’s online retail leader aims to connect Taobao, Alipay, travel service Fliggy and Amap to the Qwen app starting Thursday. The idea is to eventually help Qwen’s 100 million users shop, book travel and pay for services via a single platform with the help of AI. The newly integrated functions are now available for public testing in China. The ambitious undertaking underscores how companies from Amazon.com Inc. to Meta Platforms Inc. are exploring agentic AI, where artificial intelligence helps people perform actual tasks. Companies like Alibaba and Tencent Holdings Ltd., which already operate “super apps” with hundreds of different services,

are considered to have an initial advantage in that sphere. Alibaba, which also operates a Netflix-like streaming service and one of China’s biggest meal delivery platforms, launched Qwen in November as a major step into consumer-facing AI services. It plans to build Qwen into an all-around personal assistant by gradually integrating individual services under the Alibaba umbrella. The company also launched an invite-only “task assistant” feature designed to conduct more complicated tasks, such as making phone calls to restaurants or building web applications. In doing so, it’s seeking to answer global concerns about the money-

making potential of AI. Investors are worried in particular about the hundreds of billions of dollars flowing into Nvidia-powered data centers around the world, given persistent uncertainty about demand for AI services in future. Alibaba’s shares fell as much as 3.5 percent in Hong Kong, after rising nearly 20 percent over the past four trading days. “This dip is simply profit-taking, a textbook ‘sell the fact’ after the rally, not a verdict on Qwen app’s latest update,” said Steven Leung, executive director at UOB Kay Hian Hong Kong. Alibaba is emphasizing the extent of its ambition by hooking Qwen up with Taobao: the service that launched the company into ecommerce decades ago and remains its main Chinese shopping showcase. On Thursday, executives demonstrated how the new Qwen features work. They walked through tasks such as ordering milk tea deliveries from a local store, buying a suitable

robot vacuum cleaner for a home with a cat, and booking flights and hotels for a family vacation trip to Hainan. Initial tests showed that the app was able to perform basic tasks such as recommending a non-sugary tea, and users can directly pay for food delivery within the app. But it couldn’t for instance generate product links when responding to a prompt to buy a hiking sweater, suggesting Qwen has yet to fully integrate all shopping categories. Alibaba’s move to wire its suite of e-commerce, navigation and travel apps into Qwen highlights why peers such as Meituan and JD.com have expanded into quick commerce, food deliveries and logistics: agentic shopping requires a full execution stack, not standalone retail. Amazon, Google OpenAI and Microsoft are also making similar pushes toward agentic shopping and checkout flows. We believe Alibaba can drive See “alibaba,” A11

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Opinion BusinessMirror

Friday, January 16, 2026 A11

Trump talks oil, trade in ‘good call’ with Venezuela’s Rodriguez

The Hinirang journals according to Jeremiah Cordial

‘M

Tito Genova Valiente

ANNOTATIONS

By Skylar Woodhouse & Eric Martin

RESIDENT Donald Trump said he had a “very good call” with acting Venezuelan President Delcy Rodriguez on Wednesday, hailing her cooperation with his administration a day before he is scheduled to meet with the country’s opposition leader. “We are making tremendous progress, as we help Venezuela stabilize and recover,” Trump said in a social media post. “Many topics were discussed, including Oil, Minerals, Trade and, of course, National Security. This partnership between the United States of America and Venezuela will be a spectacular one FOR ALL.” Separately, Trump said in an interview with Reuters that he expected Rodriguez to visit Washington. “Not quite yet, but eventually she’ll come and I’ll go to their country too,” Trump said. The president also said he believed it would be better for Venezuela to remain in the Organization of the Petroleum Exporting Countries, or Opec, but did not commit to the idea and said he hadn’t discussed it with leaders in Caracas. “I think it’s better for them if they do it,” Trump said. The US president demurred when asked if he wanted the country to abide by the group’s production limits, even as he encouraged massive new investments into Venezuela’s energy infrastructure. “I don’t have to worry about it right now, because, you know, I have nothing to do with Opec,” Trump said. Trump’s comments come a day before he is set to have a highly anticipated meeting with María Corina Machado, the Venezuela opposition leader and Nobel Peace Prize winner, who is looking to mend ties with Trump and bolster her standing in Washington. As Trump moves ahead with his plans to transform Venezuela following the strike that captured strongman Nicolas Maduro, he’s opted so far to work with the remnants of the existing regime. He has also cast doubt on Machado’s ability to unify and run the country, comments that have stunned opposition leaders and Machado’s allies abroad, including some Republican lawmakers, amid swirling questions about the US president’s plans for Venezuela. Speaking earlier to reporters, Trump called Rodriguez a “terrific person.” “I mean, she’s somebody that we’ve worked with very well,” Trump said, adding that their call was long in length and he believed the nations were “getting along very well.” Still, the US president has done little to chart out what future governance of the country could look like—a key question for some oil companies weighing whether to action his call for investment. Rodriguez, in a readout earlier Wednesday, described her call with Trump as productive and cordial in a post on Telegram. She also plans to send an envoy to Washington to meet with senior US officials on Thursday, the same day Machado will be holding her own talks. Since Maduro’s capture, Trump has maintained pressure on the government in Caracas by keeping in place a US Navy-enforced oil quarantine and announcing an arrangement with Rodriguez for the country

Alibaba. . .

continued from A10

this new form of engagement at lower incremental investment than these Chinese and global tech peers, said Bloomberg analysts Catherine Lim and Jason Zhu. “AI is evolving from intelligence to agency,” said Wu Jia, an Alibaba vice president. “What we are launching today represents a shift from

to turn over as much as 50 million barrels of crude valued at about $2.8 billion at current market prices. The US president has said Caracas will only buy US-made goods with revenue from the deal. Trump’s cordial relationship with Rodriguez threatens to complicate matters for Machado, who has been a mainstay of opposition to Maduro and his predecessor Hugo Chávez, as various rival factions jockey to fill the country’s power vacuum. Trump has praised Rodriguez’s government for releasing some political prisoners, including at least one US citizen. Hours after the raid to capture Maduro, Trump said he thought Machado lacked the “support” needed to run the country. Machado has since sought to mend ties with the US president, including by saying she wanted to present him with her Nobel prize, an award Trump has long sought. Some Trump advisers had long favored a transition to Rodríguez as an off-ramp from Maduro’s hardline leadership. They argue that a gradual transition will be less disruptive than a transition to Machado or Edmundo González, the stand-in candidate Machado backed for the 2024 election after she was barred from running. Trump and administration officials have said they are seeking to stabilize the country and revitalize Venezuela’s oil industry before new presidential elections can take place, but have not announced a timetable for that transition. Trump last week convened a meeting with nearly 20 oil industry representatives, part of a bid to pressure the companies to spend at least $100 billion. That plan has faced skepticism from executives who want legal frameworks and guarantees for their investments and security for employees before agreeing to invest again in Venezuela. Exxon Mobil Corp. Chief Executive Officer Darren Woods told Trump at the meeting that the country is still “uninvestable,” but offered confidence the administration could deliver the needed legal and regulatory reforms for future investments. Rival Chevron Corp. is the only major international oil company operating in Venezuela. Oil companies are also looking for a stable security environment. Trump, in the interview with Reuters, suggested that his Venezuela efforts could mean it is more likely for the regime in Cuba—which has historically relied on Venezuelan oil—to fall. “Probably yeah, I think so,” Trump said. Venezuela’s output has fluctuated with recent levels around nearly 1 million barrels per day, well below a 1970s peak of around 4 million barrels. Venezuela’s return to growth in the global oil market following Maduro’s ouster is forecast to boost crude output by roughly 50 percent over the coming decade, according to industry consultant Enverus. Production is expected to reach about 1.5 million barrels a day by 2035. Bloomberg models that understand to systems that act—deeply connected to realworld services.” Alibaba has been among the most aggressive investors in and advocates for AI since DeepSeek fired up the local tech industry. Chief Executive Officer Eddie Wu has pledged more than $53 billion toward infrastructure and AI development—an outlay he’s said the company could surpass over time. With assistance from Claire Che and Charlotte Yang/Bloomberg

Y name is Lakan Mangubat, the heir apparent, the eldest member of our clan in the maginoo class of Selurong, soon to inherit my father’s throne.” Then he continues: “Rajah Amanimangubat rules over twenty-one barangays for now, but as his firstborn, my place as his successor has always been clear.” The next words are brave, undaunted no less. They come indeed from a “hinirang,” the selected one, he who could see what others could not. Listen to this young man:

“I do not fear duty or the rivalries of my ascent—but rather the darkness prowling at the edge of all things. A darkness that reminds me of my mortality.” But, as the great poem of Wallace Stevens says in “Sunday Morning,” what is divinity if it can come/only in silent shadows and in dreams?” So this youth then mutters: “As a warrior, I must ignore such fear, but it haunts me nonetheless.” Welcome to the cool, casual—pop and oftentimes nonchalant—universe of Jeremiah Cordial, raconteur par excellence and a recklessly if not buoyant narrator of tales that fluidly move across time, space and other dimensions.

Perhaps, it’s good to listen to how easily Cordial sets the actions and dynamic of his cast of characters: “A rajah breaks his ancestor’s law by loving a goddess, a broken boy discovers his immortal bloodline in a secret society, a rebellious child sneaks out for a game that turns into a myth [exclamation point my own!], and a grandfather, burdened by grief, is given one last chance to fulfill an abandoned promise.” It’s a logline that excites, a premise that more than promises. It’s almost a sacred vow. Somehow, someone breaks the code. First, the young man finds the allure of a woman much too much.

“Lakapati, you look like a goddess to me.” The Rajah, unbeknownst to him, is facing the divine. This will be part of the undoing, the unraveling of fate, the sadness. Months pass and Lakapati’s belly swells and a young girl is birthed. But the goddess has to leave. The tale turns poignant. As in the ancient lore, the winged creatures become the harbinger of messages. I am looking at a page. The year dictates it is “1524.” The narrator says: “It is nearly night when we reach the foot of the mountain. Everyone is exhausted. Everyone is tired of walking. I cannot stop wondering how I will find the diwata. A diwata does not simply appear at will; no one can summon their presence.”It’s April 4. Thursday. 10:11 AM. The Survivor speaks: Today, we were inside a kapre’s tree. Yep, a kapre. Just one of those regular guys. “His name was Bugna and everyone said he was mean, but to be honest,

compared to what I’d always heard from urban legend, Bugna wasn’t that scary.” And what an adventure: Bugna transported us to Palawan through his tree, which by the way, was super cool and also super confusing. His balete tree could take us to any other balete tree anywhere. It is 1848. Juan Balderama-Reyes Jr. of Batangas, Philippines, is writing: “There is a story parallel to the ones written in us somewhere in this world.” He goes on: I have been carrying my father’s name for fifty-six years, still I doubt I’ll be able to pass it down to the next generation. There is no doubt though that Jeremiah Cordial will reimagine more tales and tell more myths if they can make sense of our origins, and maybe, just maybe, chart, where we can track our birthrights. E-mail: titovaliente@yahoo.com

Trump signals he’ll hold off another attack on Iran for now By Kate Sullivan & Magdalena Del Valle

RESIDENT Donald Trump indicated that he might hold off on attacking Iran for now after saying he was reassured by sources “on the other side” that the government in Tehran would stop killing people involved in widespread protests. “We’ve been told that the killing in Iran is stopping—it’s stopped,” Trump told reporters Wednesday in the Oval Office. He said he’d been “informed by very important sources on the other side” about the decision not to proceed with the killings, and that he would be “very upset” if the crackdown continued. Asked if military action was off the table, Trump said he would “watch it” and “see what the process is.” “But we were given a very good, very good statement by people that are aware of what’s going on,” Trump said. The comments marked a shift in tone a day after he urged Iranians to continue protests against the government of Supreme Leader Ayatollah Ali Khamenei and vowed to “act accordingly” after being briefed on the killings of protesters. He posted on social media that “help is on the way.”

A White House official had said earlier that Trump had been briefed on a range of options for military strikes in Iran, including nonmilitary sites. Vice President JD Vance chaired a National Security Council meeting on Tuesday on Iran while Trump was traveling to Michigan for an economic speech. And on Wednesday, officials told Bloomberg the US had redeployed some personnel in Qatar and other American bases in the region, due to ongoing apprehension and Iranian threats to target those locations. They asked not to be named discussing private information. Those developments paralleled steps taken ahead of US airstrikes against Iran in June, fueling speculation that another round of strikes might be imminent. Those threats appeared to be more credible in the wake of the US attack on Venezuela that resulted in the capture of President Nicolas Maduro.

Bloomberg Economics defense analyst Becca Wasser said potential US targets inside Iran could range from strikes on facilities used by Iran’s internal security forces, military sites and missile factories all the way to targeted assassinations of key military figures. The most explosive option would be targeting significant political figures, she said. “I don’t think we have enough information to rule any of these out,” Wasser said. She said any airstrikes would likely come from outside the Middle East—either from US forces based in Europe or the continental US. Another option could include long-range strikes from US guidedmissile destroyers already in the region, she added. In an interview with Reuters published on Wednesday night, Trump cast doubt on whether Reza Pahlavi, a son of the late shah and a prominent opposition figure, had sufficient support within the country, where he has not lived in decades. “I don’t know whether or not his country would accept his leadership, and certainly if they would, that would be fine with me,” the president told Reuters. He added that the theocratic regime that has ruled Iran since the 1979 revolution that over-

threw Pahlavi’s father could collapse because of the protests. Outside groups that have condemned the government crackdown in Iran have pressured Trump to intervene. “Although Iran’s future will be decided by its people, the United States can—and, to maintain credibility given President Trump’s public commitments, must—help the Iranian people bring down the regime,” Michael Makovsky, president and chief executive officer of the Jewish Institute for National Security of America, said in a statement. “History will judge both Trump and the United States harshly if Washington fails the Iranian people in this moment,” Ahmad Sharawi, a research analyst at the Foundation for Defense of Democracies, wrote in an opinion piece. “If the mass killing of civilians continues, the United States should be prepared to escalate further and use targeted military options.” Iran has warned the US and Israel—which coordinated to carry out strikes on nuclear facilities in the country last year—against any attempt to intervene as the nation faces mass unrest. With assistance from MeghashyamMaliandJohnHarney/Bloomberg

Japan’s opposition parties eye merger as snap election looms By Sakura Murakami & Yoshiaki Nohara

APAN’S largest opposition party and a former ruling coalition partner are in discussions to cooperate more deeply in an upcoming election, with an eye on a potential merger, according to local media. The development complicates Prime Minister Sanae Takaichi’s bet that she’ll be able to significantly build on her razor-thin majority in the more powerful lower house. Takaichi is expected to dissolve parliament on January 23, kicking off what’s likely to be a roughly two-week campaign period with reports suggesting a national election on February 8. The leaders of the Constitutional Democratic Party of Japan, the largest opposition group, and Komeito, a smaller party that exited a long-time coalition with the ruling Liberal Democratic Party just months ago, are set to meet on Thursday to discuss collaboration in the expected snap election, according to the Asahi newspaper. “I’d like to propose how we can bring together centrist forces to protect the livelihoods of the Japanese people,” Komeito leader Tetsuo Saito said at a gathering of the party’s se-

nior officials on Thursday morning. “I hope to gain your understanding on this matter.” A new party formed under a merger of the CDP and Komeito could prove to be a formidable opposition force against Takaichi, who is staking a greater public mandate on her own popularity by calling an early election. She’s likely wagered that her personal popularity in opinion polls will translate into electoral success, giving her greater political capital to push through her fiscal and defense policy agendas. A lack of unity among opposition parties may have factored into those calculations, but a united front among key opposition parties could also thwart Takaichi’s ambitions, should it materialize. “We’ve agreed with Komeito that the upcoming dissolution of parliament doesn’t have a legitimate rationale,” said Yoshihiko Noda, the leader of the CDP, in a post on X on Tuesday. “We’ve shared our intentions to bring together centrist forces that have the ability to form a government, and confirmed that we’ll cooperate at a high level.” Komeito provided key votes to the LDP during its partnership by mobi-

lizing votes through its backing organization, the Buddhist group Soka Gakkai. The combined forces of the CDP and Komeito may tip the scales against the ruling bloc in some constituencies in the upcoming election. Saito denounced Takaichi’s move to call the election, which could delay passage of the budget for the fiscal year starting in April and the implementation of fresh price relief measures. “Politics must act swiftly,” he said on Thursday. “I can’t understand why the lower house needs to be dissolved now, creating a political vacuum.” The yen’s weakness continues, driving up inflation, and concerns over Japan’s finances are pushing up interest rates, worsening the situation for home-buyers and smaller companies, Saito added. Those market moves have come on the back of investors so far taking bets that Takaichi will prevail. If she sees success in polls next month, her prostimulus policies will likely continue to ramp up public spending to goose the economy, while keeping the Bank of Japan in the slow lane on rate hikes. As Japan’s political parties appear to gear up for an election, Komeito is considering forgoing fielding candidates in single-seat districts and urg-

ing supporters to vote for CDP runners instead, according to the Sankei newspaper. The party will focus instead on winning more proportional representation votes, the report said. Japan’s lower house seats are a mix of seats won through single-seat districts and proportional representation seats allocated to parties. Although it is small as a political force, the votes of Komeito supporters were enough to push some LDP candidates over the winning line in some single-seat districts, according to local media estimates. Such estimates put the number of seats the LDP could have lost in the previous 2024 lower house election without Komeito’s help at anywhere between 20% and 40% of the 132 seats it ultimately won. The Nikkei newspaper estimated that the LDP would have lost about 25 seats, while broadcaster JNN said the LDP could have lost up to 32. “Komeito has consistently said that it will draw a clear line against populism, and that it will advance responsible reforms that put people’s lives first—what we call ‘centrist reform’,” Saito said in a post on X Wednesday. With assistance from Akemi

Terukina/Bloomberg

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2nd Front Page BusinessMirror

ABU DHABI A.I. FIRM EYEING TO BUILD $300-M DATA CENTER By Samuel P. Medenilla @sam_medenilla

BU DHABI-BASED artificial intelligence (AI) developer, Group 42 (G42) Holding Ltd., is now eyeing to invest at least US$300 million to build a data center in the Philippines, according to the Department of Information and Communications Technology (DICT). Officials of G42 met with DICT Secretary Henry R. Aguda, when he accompanied President Ferdinand Marcos during his two-day working visit in the United Arab Emirates (UAE) earlier this week. “They are also from the UAE and are also planning to build another data center [in the Philippines],” he said. He said the proposed planned data center by G42 will be spread into three to five years and US300 to US500 million dollars. Malacañang earlier announced that DAMAC Digital, another technology firm from the UAE, is also planning to build a data center in Laguna. Aguda explained the

country has been drawing in more tech-related investments with the country’s nearly completed national fiber optic backbone initiative, which aims to provide Filipinos fast and reliable internet access nationwide. However, he said many of these investments are still pending as the concerned firms consider other factors before they set up their operations in the country. “They still have a lot to do, they have to come to the Philippines, check the availability of land. With a data center, you also need power, you need water. Your connectivity, they’re pretty much done, they’re sold, and they don’t have a problem about that,” Aguda said. With the Philippines’s available international subsea cable and fiber optic backbone project, Aguda said they are now optimistic their country can become a data center hub in the Southeast Asian region. “That’s why it’s exciting, we have many data center locators who are excited to come to the Philippines,” he said.

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Govt to expand ‘hack-free’ blockchain beyond ’26 GAA

By Samuel P. Medenilla @sam_medenilla

HE government is now eyeing to further expand the coverage of its “hack-free” block-chain system after the Philippines became the first ever country to fully integrate block-chain technology in the crafting and monitoring of its national budget, according to the Department of Information and Communications Technology (DICT). On Thursday, DICT announced the launching of the transparency portal, which allows the public to keep track of the utilization of the 2026 General Appropriations Act (GAA). “This means, the taxpayer’s money will have a permanent digital receipt [when it is used—this cannot be replaced or be tampered,” DICT Secretary Henry R. Aguda said in Filipino at a press briefing.

Last year, DICT already announced its plan to use a “tamperproof” blockchain technology, which relies on a decentralized digital ledger to store and keep track of records, for the 2026 national budget. “Starting with the 2026 General Appropriations Act. There will now be a digital seal of truth, an official copy that can be verified by anyone, no matter how many years have

DICT Secretary Henry Aguda BUSINESSMIRROR FILE PHOTO

passed,” he said. The new system, which passed through cybersecurity checks if DICT, is expected to prevent corruption in the government, inform the public how taxes are used, and ensure that such records will last, and boost public trust in the administration’s fund use. It will also help the government reduce processing time and result in a “few billions of savings.” DICT said they developed the new system using a grant from a private company, BayaniChain—the same firm which developed the Department of Budget and Management Blockchain Application, which was launched last year.

“Our agreement is that once its [blockchain system] is done at no cost to the government, we can migrate it to another chain,” Aguda said. DICT undersecretary David L. Almirol said they will create a consortium blockchain, which will have nodes owned by the Department of Budget and Management, Commission on Audit, and DICT. “This means that we own the node; it will not just not be powered by any third-party in the future,” Almirol said. DICT hopes to further expand the coverage of the new blockchain system next year once they get additional funding for it. “Once the budget has been allocated officially, we’ll start constructing the blockchain that will not cater just to the budget but for the whole CADENA (Citizen Access and Disclosure of Expenditures for National Accountability) execution,” the DICT chief said. The CADENA bill is currently on the list of the latest priority legislation of the Marcos administration. Under the Senate version of the CADENA, government agencies must upload and regularly update See “‘Hack-free’,” A2

Cebu hosting Asean Tourism Forum to spur tourism, investments By Ma. Stella F. Arnaldo Special to the BusinessMirror

POWERPUFF GIRLS Women farmers of Barangay Tagas, San Jose, Camarines Sur, remain in high spirits as they plant palay on a field along the highway, cheerfully working through the rain. BERNARD TESTA

EBU is expecting over 5,000 delegates to the Association of Southeast Asian Nations (Asean), where high-level meetings will be held among the region’s key leaders, senior officials, including the region’s tourism ministers and private sector delegates. In a news briefing in Cebu on Wednesday, Tourism Secretary Christina Garcia Frasco said, hosting the Asean Tourism Forum (ATF) in particular, will help reignite Cebu’s tourism industry. “[The event] will benefit our tourism accommodations and establishments, our tourism transport, our aviation sector, all of the tourism frontliners and workers working in this sector, and of course, the multiplier effect can be felt in agriculture, in retail, in the creative industries,” she said. Last year, the province was shaken by an earthquake then lashed by a powerful typhoon, from which many tourism businesses have yet to recover. The ATF will be held in Cebu City from January 28 to 30, 2026. “What a message to send to the world that despite everything that Cebu has been through, Cebu is ready, and Cebu is here to welcome the world with the most excellent hosting of the Asean Tourism Forum, [what with] all the prepara-

tions and coordination between the national, local government, and the private sector,” she added. The DOT chief hails from Cebu. The last time the Philippines hosted the ATF was in 2016. Like the Asean chairmanship, the ATF leadership is also rotated among the membercountries.

‘Leading tourism hub in Asia’

THE Cebu provincial government led by Gov. Pamela Baricuatro, along with the city governments of LapuLapu, Cebu, and Mandaue, have been quietly undertaking the preparations for the Asean meetings, including the ATF. Frasco’s statements were supported by Cebu Provincial Tourism Officer Rowena Lu Montecillo, a former DOT regional director, who spoke on behalf of Baricuatro. “Tourism remains a key driver of Cebu’s economy, and events like this help transcend our position as a leading tourism hub in the Philippines and Southeast Asia,” Data from the Cebu provincial office showed tourist arrivals reached some 1.2 million in the first half of 2025, of whom 975,366 were domestic travelers and 214,062 were foreign tourists. In 2024, it attracted 1.42 million tourists; 824,115 were domestic travelers and 596,905 were foreign nationals. See “Forum,” A2

Carlson says goodbye, touts US-PHL alliance By Malou Talosig-Bartolome

HE United States and the Philippines carried out more than 500 combined joint military activities annually over the past three years, including the largest-ever Balikatan exercise in 2025, underscoring what US Ambassador MaryKay Carlson called an “ironclad alliance” during her farewell reception in Makati. Speaking before Filipino and American partners at the Makati

Shangri-La, Carlson reflected on her three-and-a-half-year tenure. She arrived in Manila in July 2022, just days before President Ferdinand Marcos Jr.’s first State of the Nation Address, a posting that coincided with the administration’s foreign policy pivot back to defending Philippine sovereign rights in the South China Sea. (See related: https://businessmirror. com.ph/2022/07/23/new-usambassador-arrives-in-manilapresents-credentials-to-bbm-in-

less-than-24-hours/) “Together, we have defended international law in the South China Sea, upholding the rights of Filipino fisherfolk,” Carlson said, highlighting the scale of defense cooperation as a symbol of the two nations’ shared commitment to a free and open Indo-Pacific. Her departure comes as the White House awaits Senate confirmation of Lee Lipton, nominated to succeed her as US envoy to Manila. Lipton’s initial nomination was re-

turned to the White House under Senate Rule XXXI after adjournment sine die but was resubmitted on January 13. Carlson also cited humanitarian and economic collaboration: US military airlift missions delivering disaster relief after typhoons, US$313 million in foreign assistance to strengthen energy resilience and health outcomes, and a trilateral initiative with Japan to spur infrastructure investment in See “Alliance,” A2

CEBU City is getting ready for the Asean Tourism Forum 2026 by sprucing up heritage sites like Magellan’s Cross (in photo) and Fort San Pedro, which are expected to be visited by ATF delegates. PHOTO FROM THE BASILICA MINORE DEL STO. NIÑO DE CEBU

Companies BusinessMirror

Editor: Jennifer A. Ng

Friday, January 16, 2026

Govt set to decide on SMPC appeal to extend COC in Q1

By Lenie Lectura

@llectura

HE Department of Energy (DOE) said it is “extensively” evaluating the coal operating contract (COC) of Semirara Mining and Power Corp. (SMPC) which will expire in 2027. DOE Secretary Sharon Garin said the agency’s legal team has yet to conclude an ongoing review on whether to extend or bid out the contract to interested firms. “The request of Semirara was to ask for an extension and then there will be two options: extension or

we bid it out. Why bidding? Because their 50 years is finished already. But they’re asking for extension because there is still 13 years left as GOCC [government-owned and -controlled corporation]. So, they’re asking for 13 years more. We’re still under discussion

together with our legal team on what to do because we have to assess if the claim of Semirara is correct. But we will decide within the quarter,” said Garin. Consunji-led SMPC operates under a long-standing COC with the DOE for Semirara Island, which grants exclusive coal exploration and mining rights until 2027. The DOE noted that the COC secured by SMPC was supposed to expire in July 2012. In 2008, the government extended the contract by 15 years or until July 2027. Of the 50-year COC, SMPC said the mine was operated by a GOCC for 13 years. The DOE said it has not received an inquiry from any firms that may have an interest in the COC. “So far, we don’t have any official or unofficial notice here in the DOE. But I

guess because it’s the biggest mining company or coal mining company in the country, it has the potential to mine for a few years more. So, there might be some interest also. But I have to say though, it’s a very complicated technology. Probably the only company in the world that can do this kind of mining,” Garin added. SMPC earlier reported a lower net income at P9.89 billion from January to September last year compared to the P15.7 billion recorded in the same period in 2024 due to lower energy and coal prices. Company president Maria Cristina Gotianun said the company will strengthen reliability, manage costs and preserve financial flexibility to navigate changing market and operating conditions.

PHL to block Grok over deepfakes By Samuel P. Medenilla @sam_medenilla

HE Philippines may soon join other countries that have banned Elon Musk’s artificial intelligence (AI) model, Grok, as it is being used to generate sexualized deep fakes images, according to the Department of Information and Communications Technology (DICT). While Grok has minimal footprint in the country compared to other AI models such as ChatGPT and Claude, DICT Secretary Henry R. Aguda said the government wants to prohibit local users

from accessing it since it can be used for Online Sexual Abuse and Exploitation of Children (OSAEC). He said the Cybercrime Investigation and Coordinating Center (CICC) and the National Telecommunications Commission (NTC) are now in talks with Musk’s social media platform, X. “This week, we are sure that this will be resolved, “ the DICT chief said in a press briefing in Malacañang last Thursday. Globe Telecom Inc. said it has received the order from the DICT on blocking Grok and is working with it on some clarifications regarding implementation, Globe

Telecom Chief Sustainability and Corporate Communications Officer Yolanda Crisanto said in a text message. Malaysia and Indonesia have banned the use of Grok within their jurisdiction since it was being used to generate sexualized images of people without their consent. In response to said prohibition, Musk’s camp said it has taken steps to stop people from misusing its Grok to edit images of people to make them look to be in revealing clothes or even nudity. X, which operates Grok, noted it is also removing inappropriate

posts in its platform which made use of the AI tool. DICT said it is also taking down the said inappropriate posts even while its discussions on the ban with X is still ongoing. “We don’t need to ask permission from X or bother them because of the said content itself, that’s what it is, blocked,” Aguda said. “The blocking is just, just to give an idea on how blocking is done, we don’t push a button and then when we press it, it’s (explicit content) blocked. If there is blocking, all of the ISPs [internet service providers] would have to initiate the blocking.” With reports from Bloomberg News

BEC bags PhilWeb inks deal with Hann Casino energy deal under GEA

ASIC Energy Corp. (BEC) said Thursday it was formally awarded a contract by the Department of Energy (DOE) for its Cadiz 1 Solar Power Plant that qualified under the Fourth Round of the Green Energy Auction Program (GEA-4). The Cadiz 1 Solar Power Plant is a 43.410-megawatt alternating current (MWAC) renewable energy project located in Cadiz City, Negros Occidental. Under the certificate of award, BEC was confirmed as a winning bidder and is entitled to proceed with the project, subject to compliance with the terms and conditions of the GEAP and the execution of the relevant project agreements. The project, which is part of the company’s growing solar development portfolio in the Visayas, is committed for delivery to the Visayas grid with a targeted commercial operations date of on or before December 31, 2026. “Development activities for the Cadiz 1 Solar Power Plant are ongoing, consistent with the company’s previously disclosed timelines and strategy to advance utility-scale renewable energy projects,” BEC said. The company announced last year it was setting aside P300 million to carry out its expansion plans in the next two to three years. It is also open to exploring partnerships with interested technical and financial partners to help secure investments for its renewable energy projects. Lenie Lectura

HANN Casino Resort is the first fully integrated resort in Clark Freeport Zone, Pampanga. BUSINESSMIRROR FILE PHOTO

HILWEB Corp. on Thursday said it entered into a strategic partnership with Hann Philippines Inc. for the operation and management of Hann casino’s regulated online gaming platform in the Philippines. Under the arrangement, PhilWeb will provide operational and technical support for the platform, drawing on its experience and established track record in the Philippine gaming industry. “The partnership is intended to support the platform’s compliance with applicable regulatory requirements and to enhance operational efficiency and system performance,” the company said. Hann is the owner and developer of the integrated resort and casino brand Hann Resort in Clark in Pampanga. Hann will continue to oversee its regulated online gaming business and remains responsible for ensuring adherence to responsible gaming standards, governance policies and regulatory obligations, the company

said. “PhilWeb’s involvement is expected to complement these objectives through its technical and operational capabilities.” Hann Casino Resort, the first fully integrated resort in Central Luzon, is a premier destination north of Manila, featuring a grand casino with 274 table games and 1,721 gaming machines, alongside over 800 hotel rooms from from Swissôtel Clark and Clark Marriott. South Korean Dae Sik Han, Hann Group founder, chairman, president and CEO, said the company has tapped a European technology partner and ready to join the online gaming race as soon as regulatory issues have been settled by lawmakers and the government. “The nature of the business, and whether it’s PIGO [Philippine Inland Gaming Operators] or online, is pretty much same because this is online gaming. We have an online platform with around, 100 different games,” Han said. “Instead of an online platform

(our will be) more like an omni platform, meaning we improve, we enhance the gaming experience with online accessibility.” He said the current generation of younger gamblers, even in countries such as the United States, do not want to go out and instead want to gamble in the comfort of their homes. He said his integrated casino resort in Clark already has an online gaming license, but is different from the purely online gaming license that is popular now. “You know, I strongly believe that this online gaming business has to be properly regulated, because the side effect of generating revenue for the government is there is some kind of negative impact to the society, especially like kids and then low income households,” he said. “The tricky part is, if this regulated online gaming platform is gone, then does that mean nobody will gamble online? It’s a different story, right? That’s why government is really trying to regulate this thing.” VG Cabuag

‘Q4 results reflect resilience of JFC’

A SERVICE assistant prepares a customer’s take-out order at the Jollibee Foods Corp. restaurant in Taguig City, Manila, the Philippines, on March 13, 2021. BLOOMBERG By VG Cabuag @villygc

ASTFOOD company Jollibee Foods Corp. (JFC) on Thursday said its international operations continue to demonstrate resilience, while domestic operations are steady amid varying macroeconomic conditions. The company said its preliminary indicators show that systemwide sales and same-store sales growth trends have remained “solid” during the fourth quarter and are consistent with the full-year 2025 guidance. Jollibee said it likely posted systemwide sales growth of between 8 percent and 12 percent and samestore sales growth of between 4 percent and 6 percent. The fourth quarter has also benefited from favorable seasonal demand patterns alongside the continued benefits of execution initiatives implemented during the year, the company said. “The competitive environment remains stable and rational, reinforcing the appropriateness of the Jollibee group’s existing strategies, in line with observed market behavior and demand patterns.” “Customer demand has been stable across key markets, and network expansion continues to be supported by strong franchise engagement, reinforcing our asset light growth strategy,” Richard Chong Woo Shin, the company’s CFO, said. “The recent opening of our Danao Commissary in Cebu supports our provincial expansion objectives and further strengthens our supply chain capabilities in the Visayas and Mindanao regions. We remain focused on prudent cost management and advancing our long-term priorities,” he added. In the Philippines, the company’s

core brands—Jollibee, Chowking and Mang Inasal—continued to contribute to domestic systemwide sales and same-store sales growth. “Fourth-quarter performance reflected improving demand dynamics consistent with seasonal patterns, reinforcing the resilience of the Philippine business amid a more challenging operating environment,” the company said. Vietnam remains a key market for Jollibee, which has the most number of Jollibee fastfood stores overseas. Systemwide sales and same-store sales growth in Vietnam sustained their high double-digit trajectory, outperforming peers. This performance underscores the brand’s strong market position and broad consumer acceptance. The current operating environment provides a supportive foundation as the Jollibee’s continues to focus on asset-light expansion in the market. Meanwhile, its Tim Ho Wan concept continues to emerge as a strategic growth engine for the Jollibee. Since the acquisition, execution initiatives, including product, quality and service enhancements, have translated into strong customer reception and top-tier ratings on established consumer review platforms. In Hong Kong, store operations have stabilized and returned to profitability, reinforcing confidence in the brand’s operating model and execution under the Jollibee’s stewardship, including the first Tim Ho Wan location opened following the acquisition. In the United States, early customer response to newly opened stores has been encouraging, supporting management’s conviction in the scalability and long-term growth potential of the brand across international markets.

Mitsubishi Electric said to seek $1.9-B sale of unit

I T SU BI SH I E lec t r ic Corp. will sell its automotive equipment business and plans to solicit bids for the unit, people familiar with the matter said. The manufacturer will accept first-round proposals until January 26 from potential buyers such as other car-parts suppliers, as well as from private equity funds, said the people, who asked not to be identified discussing internal plans. The divestment could fetch ¥200 billion to ¥300 billion ($1.3 billion to $1.9 billion), one of the people said. The automotive equipment business handles products such as inverters and motors for hybrids and electric vehicles, as well as in-car entertainment systems, areas of the industry that’s under intense cost competition. The slowdown in the global EV market has also

made it harder to make money within the sector. Asked to comment, Mitsubishi Electric said it’s committed to improving management efficiency and advancing its business portfolio. Mitsubishi Electric’s goal is to spin out the operation, where profitability has been weak, in order to boost its own earnings and reallocate management resources, the people said. The unit reported sales of ¥423 billion in the AprilSeptember first half of the current fiscal year, with an operating margin of around 5 percent, compared with Mitsubishi Electric’s overall margin of 8.2 percent. In April of 2024, Mitsubishi Electric separated the automotive unit as a subsidiary, and had indicated at the time that it would make an early exit from the car navigation systems business. Bloomberg News

Companies BusinessMirror

Friday, January 16, 2026

Exec: Cebu Pacific hits new passenger milestone in ‘25

By Lenie Lectura

@llectura

OKONGWEI-led Cebu Pacific (CEB) flew nearly 27 million passengers last year, up 9.5 percent from 24.5 million in 2024. From January to December 2025, CEB carried 20 million passengers for its domestic routes, 8.1 percent higher than in 2024. International passengers also increased by 14 percent to 6.9 million. The total seat capacity grew by 10 percent to 32 million, with an average seat load factor (SLF) of 84 percent. The budget carrier reported Thursday that for December 2025 alone, it carried over 2.7 million passengers. The number is up by

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PSE STOCK QUOTATIONS

January 15, 2026

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

ASIA UNITED BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL DOMINION HLDG MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH VANTAGE

41.9 141 9.11 125 62.5 12.28 70.95 7.61 16.42 62.1 56 101.1 26 67.65 26.95 0.68 1.38 1.38 0.095 2,030 0.78 202.2 1.02

41.95 142 9.2 125.2 62.7 12.3 71 7.79 16.78 62.2 56.4 117.9 26.15 68 27 0.71 1.4 1.44 0.103 2,070 0.8 204 1.04

42.5 138.6 9.1 124 60.85 12.4 70.8 7.6 16.74 61.95 56 101 25.85 68.1 26.85 0.72 1.41 1.4 0.103 2,036 0.8 204 1

42.5 142 9.29 125.3 62.8 12.4 71.65 7.8 16.78 62.25 57.6 102 26 68.5 27.1 0.72 1.41 1.41 0.103 2,060 0.8 205.4 1.04

41.9 138.6 9.1 122.5 60.85 12.22 70.4 7.6 16.74 61.95 55.8 101 25.85 67.65 26.85 0.67 1.38 1.25 0.103 2,036 0.78 203 1

41.9 142 9.11 125 62.5 12.28 71 7.8 16.78 62.2 56.5 101 26 67.65 27 0.67 1.39 1.25 0.103 2,060 0.8 205 1.01

6,000 3,088,070 18,200 3,615,550 351,020 129,700 2,747,960 4,100 3,000 369,140 9,840 120 17,900 309,120 38,400 11,000 22,000 197,000 20,000 10 1,288,000 8,680 406,000

252,070 435,339,877 166,670 450,866,232 21,883,898.50 1,597,940 194,824,869.50 31,960 50,276 22,960,055.50 555,818 12,133 462,730 21,024,745 1,037,550 7,470 30,670 273,610 2,060 20,480 1,016,960 1,770,934 415,070

25,140 59,474,562 213,906,850 1,987,652.50 -214,644 -2,795,089.50 2,340 6,673,582 -506,641 1,011 2,104,726.50 -675,170 -18,090 -10,180 -820 -1,069,940 -

INDUSTRIAL ACEN CORP 3.03 3.04 3.04 3.06 3.02 3.03 9,946,000 30,228,600 -1,367,420 0.52 0.53 0.53 0.54 0.51 0.53 159,000 83,380 ALSONS CONS 0.85 0.86 0.87 0.87 0.85 0.86 265,000 227,990 ALTERNERGY HLDG 43.85 44 44.2 44.2 43.65 43.85 443,100 19,427,510 -4,021,230 ABOITIZ POWER 0.85 0.87 0.86 0.86 0.87 74,000 64,320 2,580 RASLAG 0.88 0.131 0.134 0.121 0.135 0.12 0.134 16,730,000 2,163,400 232,460 BASIC ENERGY CITICORE RE 4.41 4.46 4.6 4.6 4.41 4.46 412,000 1,844,180 -176,510 FIRST GEN 18.8 18.9 19 19.04 18.8 18.8 526,200 9,927,882 -2,617,470 FIRST PHIL HLDG 78.15 78.5 78.05 78.5 78.05 78.15 16,620 1,298,609.50 600 600 588 588 580 600 302,940 179,589,875 85,942,675 MERALCO MANILA WATER 109,900,150 39.9 39.95 41.35 41.35 39.45 39.95 2,744,100 -2,396,060 MAYNILAD 17.56 17.5 17.4 17.6 17.4 17.5 3,565,800 62,472,642 24,471,878 2.86 2.87 2.85 2.9 2.84 2.87 1,633,000 4,665,200 -76,620 PETRON 3.41 3.41 3.6 3.41 3.6 3,000 10,610 3,410 PETROENERGY 3.57 14.1 14.2 14.42 14.42 14.1 14.1 71,800 1,014,554 837,480 PRYCE CORP 29.85 30 30.2 30.45 29.85 29.85 1,831,000 55,108,985 -31,710,220 SEMIRARA MINING 17.98 18 17.6 18.2 17.6 18 1,384,500 24,851,742 3,896,988 SYNERGY GRID 10 10.04 10 10.1 9.6 10 1,467,200 14,496,425 822,156 SHELL PILIPINAS SPC POWER 10.54 10.56 10.6 10.6 10.46 10.54 77,400 813,154 -76,508 SP NEW ENERGY 1.11 1.12 1.1 1.12 1.09 1.12 8,095,000 8,968,630 -148,660 TOP LINE 1.72 1.73 1.73 1.75 1.7 1.73 1,361,000 2,344,850 -1,720 AGRINURTURE 0.54 0.53 0.53 0.55 0.51 0.54 6,703,000 3,605,930 34,010 AXELUM 2.25 2.25 2.29 2.25 2.25 2.25 8,000 18,000 10.2 10.2 10 10.2 10.2 10.2 2,800 28,560 CNTRL AZUCARERA 40.15 40.45 40.2 40.5 40.15 40.45 809,000 32,694,445 5,270,205 CENTURY FOOD 4.52 4.55 4.53 4.53 4.52 4.52 17,000 76,850 DEL MONTE 4.32 4.33 4.35 4.4 4.21 4.32 5,234,000 22,606,680 -7,347,870.00 DNL INDUS 16.02 16 16.08 15.94 16.02 208,900 3,341,720 -369,914 EMPERADOR 16.04 54.5 55.9 56 56 54.5 54.5 39,760 2,196,166 -1,456,518.50 SMC FOODANDBEV 0.59 0.6 0.6 0.6 2,183,000 1,309,800 -450,600 FIGARO GROUP 0.6 0.6 ALLIANCE SELECT 0.375 0.385 0.375 0.375 0.375 0.375 440,000 165,000 0.65 0.65 0.64 0.65 0.64 0.65 114,000 74,060 FRUITAS HLDG 294.6 294 298 300 293.8 298 13,480 4,010,916 -142,456 GINEBRA JOLLIBEE 230,659,330 208.8 209 208.4 210.8 207.4 209 1,103,520 -10,116,740 KEEPERS HLDG 2.4 2.42 2.42 2.43 2.4 2.4 1,448,000 3,484,310 -1,508,140 LIBERTY FLOUR 34 34.3 34.5 34.5 34.3 34.3 2,200 75,540 -20,580 5.8 6 6 6 7,900 47,400 MACAY HLDG 6 6 2.42 2.42 2.4 2.45 50,000 121,690 34,530 MAXS GROUP 2.45 2.45 0.06 0.062 0.061 0.061 0.06 0.06 160,000 9,620 MG HLDG 5.99 6 5.97 6.05 5.97 5.99 66,232,400 396,789,317 -7,614,876 MONDE NISSIN 6.98 7 7.1 7.1 6.98 7 202,600 1,414,220 -4,220 SHAKEYS PIZZA 2.52 2.61 2.6 2.6 2.52 2.52 76,000 194,330 ROXAS AND CO RFM CORP 4.96 4.96 4.91 4.88 4.86 4.96 1,200,000 5,872,520 -2,673,710 SWIFT FOODS 0.054 0.054 0.052 0.054 0.052 0.054 470,000 25,360 -1,080 UNIV ROBINA 72.95 73 73.45 73.6 72.3 73 533,680 38,917,943.50 550,189.50 VITARICH 0.55 0.55 0.54 0.55 0.54 0.54 1,132,000 612,550 2.15 2.12 2.1 2.12 2.1 2.12 120,000 252,660 -112,740 VICTORIAS ATN HLDG A 0.485 0.49 0.495 0.495 0.49 0.49 400,000 197,000 0.495 0.6 0.495 0.495 0.495 0.495 150,000 74,250 ATN HLDG B 46.05 51 50 50 50 50 500 25,000 CONCRETE A 46.85 54 54 54 10 540 CONCRETE B 54 54 1.11 1.13 1.16 1.16 1.1 1.1 3,261,000 3,608,930 2,200 CONCREAT HLDG 2.67 2.69 2.69 2.7 28,000 75,470 EEI CORP 2.7 2.7 MEGAWIDE 3.15 3.15 3.12 3.15 3.1 3.12 346,000 1,080,040 -112,640 PHINMA 16.38 15.5 16.32 16.38 16.32 16.32 5,900 96,582 23.8 21.2 18.5 24 18.5 23.8 15,200 337,996 SUPERCITY 1.72 1.72 1.69 1.7 1.68 1.68 77,000 131,850 CROWN ASIA 1 1 0.98 0.97 0.97 1 26,000 25,390 1,940 EUROMED MABUHAY VINYL 5 5.47 5.07 5.5 5 5.47 3,200 17,501 13.92 14.36 14.04 14.42 14.04 14.4 3,600 50,714 -2,880 CONCEPCION 0.178 0.182 0.176 0.182 10,010,000 1,801,830 24,920 GREENERGY 0.182 0.182 3.9 3.92 4 4.18 3.89 3.92 1,432,000 5,675,590 -752,050 INTEGRATED MICR 1.12 1.12 1.11 1.14 901,000 1,015,530 -56,000 IONICS 1.14 1.14 11.02 11.38 11.38 10.9 11.02 58,500 643,984 PANASONIC 11.04 0.83 0.76 0.76 0.84 3,753,000 3,066,640 23,100 CIRTEK HLDG 0.84 0.84 STENIEL 2.09 2.05 2.05 2.05 2.02 2.05 137,000 280,070 -205,000.00

5.1 percent from the same month in 2024. Both domestic and international passengers grew 4.5 percent and 6.6 percent, respectively. “Cebu Pacific concluded 2025 on a strong note, achieving its highest-ever monthly passenger traffic with 2.7 million passengers in December. For the full year, the airline carried a record 26.9 million passengers, representing nearly 10 percent growth year-on-year. Delivering these record num-

HOLDING & FRIMS

BUSINESSMIRROR FILE PHOTO

bers despite challenges such as f leet reliability issues, supply chain disruptions, and global geopolitical tensions underscores the strength of our low-cost model and the agility of our operations,” said Cebu Pacific Chief Executive Officer Mike Szucs. CEB’s orders for new aircraft is expected to boost its numbers this year. “We anticipate sustaining similar growth levels in 2026, supported by the delivery of seven new aircraft during the year. As celebrate our 30thanniversary, we look forward to another milestone year for the airline,” said Szucs. Last December, the airline announced that will launch direct flights between Manila and Riyadh starting March 1, target-

ing Filipino migrant workers in Saudi Arabia with more affordable travel options. It will operate the route four times weekly, with Manila-Riyadh flights scheduled on Mondays, Wednesdays, Fridays, and Sundays. Return flights from Riyadh to Manila will depart on Mondays, Tuesdays, Thursdays, and Saturdays. The airline projects capacity growth of 6 percent to 10 percent this year. Cebu Pacific started commercial operations in March 1996. It has f lown over 270 million passengers to date. It offers the widest network coverage with 37 domestic and 26 international destinations, with a fleet of over 100 aircraft.

ABACORE CAPITAL 0.335 0.34 0.325 0.34 0.325 0.335 18,160,000 6,073,850 470,950 15.02 15.18 15.4 15.4 15 15.18 26,200 395,508 -63,060 ASIABEST GROUP 540 541.5 521 542 521 541.5 1,395,410 751,033,320 504,557,575 AYALA CORP 30.25 30.5 30.4 31 30.25 30.25 567,300 17,286,965 5,958,800 ABOITIZ EQUITY 7.89 7.9 7.8 7.98 7.78 7.9 1,280,200 10,099,334 3,311,037 ALLIANCE GLOBAL 14.06 14.6 14 14.7 96,100 1,401,722 14.7 14.7 ANSCOR ANGLO PHIL HLDG 0.83 0.85 0.85 0.85 0.83 0.83 522,000 439,580 7.42 7.43 7.42 7.42 7.3 7.42 213,200 1,571,768 -309,298 COSCO CAPITAL DMCI HLDG 10.6 10.68 10.56 10.7 10.56 10.6 3,592,900 38,259,556 9,504,956 FILINVEST DEV 4.69 4.69 4.58 4.69 4.69 4.69 11,000 51,590 630 630 625 615 614 630 174,720 109,518,875 71,074,070 GT CAPITAL HOUSE OF INV 4.56 4.6 4.61 4.61 4.6 4.6 152,000 699,220 25.85 25.9 26.2 26.5 25.85 25.85 3,380,300 88,147,675 33,760,090 JG SUMMIT 0.34 0.35 0.34 0.34 0.34 10,000 3,400 LODESTAR 0.34 3.72 3.75 3.81 3.81 3.72 3.72 2,000,000 7,537,810 -3,727,810 LOPEZ HLDG 15.44 15.48 15.4 15.58 15.36 15.48 3,820,600 59,246,442 16,047,634 LT GROUP 0.97 1.06 0.96 0.96 0.96 0.96 2,000 1,920 PACIFICA HLDG 1.2 1.25 1.19 1.2 1.19 1.2 9,000 10,770 PRIME MEDIA SOLID GROUP 1.37 1.37 1.31 1.35 1.35 1.37 341,000 461,860 745 745.5 739 745.5 732 745.5 344,100 255,642,955 82,099,930 SM INVESTMENTS SAN MIGUEL CORP 84.25 84.95 84.9 84.95 84.05 84.95 238,600 20,248,797.50 54,545.50 TOP FRONTIER 78 79.8 67 78 66.9 78 48,060 3,673,366 -39,650 ZEUS HLDG 0.068 0.075 0.068 0.076 0.068 0.076 40,000 2,880 PROPERTY AYALA LAND 23.5 23.6 23.05 23.6 23 23.6 8,378,600 196,582,555 26,407,800 1.49 1.5 1.56 1.56 1.49 1.5 496,000 746,320 -303,520 AYALA LAND LOG 8.4 8.4 8.39 8.6 25,900 217,579 ALTUS PROP 8.6 8.6 0.395 0.41 0.4 0.4 210,000 84,200 ARANETA PROP 0.41 0.41 43.15 43.2 43.05 43.45 43.05 43.2 700,600 30,285,810 14,786,970 AREIT RT 1.01 1.03 1.02 1.02 1 1.01 706,000 712,090 99,000 A BROWN CITYLAND DEVT 0.59 0.6 0.58 0.59 0.58 0.59 47,000 27,610 13,570 CROWN EQUITIES 0.075 0.075 0.073 0.074 0.074 0.075 200,000 14,930 2.49 2.49 2.48 2.49 2.48 2.49 102,000 253,750 146,780 CEB LANDMASTERS CENTURY PROP 0.72 0.73 0.71 0.73 0.71 0.72 2,036,000 1,464,100 -320,400 CITICORE RT 3.54 3.55 3.56 3.57 3.54 3.55 4,685,000 16,629,150 -1,618,700 DOUBLEDRAGON 9.28 9.27 9.32 9.32 9.23 9.27 142,400 1,317,986 -46,368.00 1.1 1.11 1.09 1.1 1.08 1.1 19,502,000 21,425,130 266,390 DDMP RT 4.88 5.04 5.04 5.04 6,100 30,744 DM WENCESLAO 5.04 5.04 0.114 0.115 0.113 0.113 0.113 0.113 70,000 7,910 EMPIRE EAST 3.05 3.07 3.05 3.06 359,000 1,097,930 -104,040 FILINVEST RT 3.07 3.07 0.83 0.83 0.83 0.84 4,150,000 3,466,410 2,168,360 FILINVEST LAND 0.84 0.84 0.75 0.76 0.77 0.77 0.76 0.76 501,000 380,770 GLOBAL ESTATE GOLDEN MV 955 1,002 1,001 1,001 1,001 1,001 20 20,020 0.37 0.37 0.345 0.365 0.365 0.37 30,000 11,050 PHIL INFRADEV 1.6 2.03 2.02 2.03 2.02 2.03 15,000 30,310 JACKSTONES 0.51 0.52 0.52 0.52 0.51 0.52 24,000 12,400 CITY AND LAND 2.22 2.21 2.21 2.22 2.21 2.22 8,124,000 17,989,060 5,574,680 MEGAWORLD MRC ALLIED 0.84 0.85 0.85 0.86 0.84 0.85 70,156,000 59,724,330 57,310 13.88 13.9 13.92 13.96 13.8 13.88 2,014,900 27,986,780 -424,024 MREIT RT 0.103 0.112 0.104 0.104 0.102 0.103 460,000 47,600 1,040 OMICO CORP 0.22 0.218 0.218 0.228 620,000 136,190 PRMIERE HORIZON 0.228 0.228 5.01 5.2 5.81 5.81 5 5.15 64,200 321,634 -13.0001 PHIL RACING 1.12 1.13 1.15 1.15 1.12 1.12 751,000 850,540 PREMIERE RT 8.14 8.15 8.04 8.16 8.04 8.15 26,993,800 219,429,119 125,251,466.00 RL COMM RT ROBINSONS LAND 17.92 18 18.28 18.28 17.72 17.92 1,136,300 20,397,424 2,616,460 PHIL REALTY 0.11 0.11 0.105 0.104 0.104 0.11 1,320,000 140,520 3,140 1.88 1.88 ROCKWELL 1.85 1.88 1.85 1.85 401,000 743,350 3.66 3.67 3.65 3.71 3.65 3.67 149,000 549,840 3,670 SHANG PROP STA LUCIA LAND 2.34 2.53 2.53 2.54 2.53 2.54 2,000 5,070 23.95 24 23.5 24.1 23.2 24 13,708,600 328,091,475 55,248,545 SM PRIME HLDG 1.16 1.43 1.43 1.35 1.35 12,000 17,000 VISTAMALLS 1.34 0.72 0.72 0.72 0.72 189,000 136,080 SUNTRUST RESORT 0.73 0.72 118.2 135 135 135 20 2,700 UNIHOLDINGS 135 135 1.28 1.29 1.29 1.31 1.25 1.29 3,671,000 4,715,930 -986,210 VISTA LAND 1.49 1.47 1.47 1.49 1,611,000 2,403,280 869,020 1.51 1.51 VISTAREIT RT SERVICES ABS CBN 3.79 3.8 3.9 3.9 3.76 3.8 908,000 3,463,880 5.8 5.88 5.83 5.86 5.8 5.84 510,900 2,972,855 GMA NETWORK 6.75 9 6.75 6.75 6.75 6.75 9,600 64,800 MLA BRDCASTING 0.71 0.72 0.75 0.75 0.7 0.71 23,106,000 16,487,600 -4,191,170 DITO CME HLDG 1,651 1,665 1,672 1,650 1,651 43,490 72,027,275 -56,767,260 GLOBE TELECOM 1,652 1,342 1,343 1,360 1,325 1,342 108,620 145,702,095 -11,371,840 1,360 PLDT APOLLO GLOBAL 0.0059 0.006 0.0059 0.006 0.0058 0.0059 80,000,000 469,300 16.02 15.84 15.92 16.02 15.7 15.9 4,182,500 66,343,004 6,318,950 CONVERGE DFNN INC 0.76 0.77 0.75 0.8 0.75 0.75 453,000 353,600 -106,400 EASYCALL 3.1 3.1 2.91 3.1 3.1 3.1 16,000 49,600 0.81 0.7 0.71 0.71 0.71 0.71 5,000 3,550 IMPERIAL 0.129 0.131 0.124 0.134 0.122 0.131 10,100,000 1,302,110 242,970 ISLAND INFO 0.67 0.67 0.66 0.67 609,000 406,880 NOW CORP 0.68 0.68 0.137 0.139 0.14 0.14 0.14 0.14 20,000 2,800 TRANSPACIFIC BR 34.7 34.75 34.65 34.75 44,600 1,547,785 229,300 ASIAN TERMINALS 34.75 34.75 0.97 0.97 0.94 0.98 495,000 478,000 7,180 CHELSEA 0.98 0.98 33.3 33.35 33.5 33.5 33.15 33.35 155,900 5,191,140 -1,245,000 CEBU AIR 620 609 603.5 628 1,291,320 799,829,460 70,947,845 INTL CONTAINER 628 628 LBC EXPRESS 8.4 8.4 8.3 8.4 8.4 8.4 300 2,520 0.57 0.61 0.57 0.58 0.57 0.58 10,000 5,710 -580 LORENZO SHIPPNG MACROASIA 4.65 4.65 4.61 4.56 4.56 4.65 1,360,000 6,305,590 5,531,270.00 PAL HLDG 3.84 3.84 3.77 3.83 3.77 3.84 33,000 125,650 3,840 HARBOR STAR 0.62 0.62 0.59 0.62 0.58 0.62 13,000 7,650 0.041 0.042 0.039 0.044 0.039 0.042 63,700,000 2,644,700 -29,900 BOULEVARD HLDG 1.02 1.03 1.03 1.03 15,000 15,450 DISCOVERY WORLD 1.03 1.03 5.79 6 6 6 2,000 12,000 GRAND PLAZA 7 6 0.139 0.146 0.146 0.147 0.144 0.144 580,000 84,580 PH RESORTS GRP 0.41 0.415 0.41 0.41 50,000 20,600 WATERFRONT 0.415 0.415 16.16 16.18 16.3 16.3 16.14 16.3 20,800 338,460 32,280 CENTRO ESCOLAR 802 814.5 809.5 814.5 809.5 814.5 110 89,120 FAR EASTERN U IPEOPLE 6.5 6.56 6.5 6.5 6.5 6.5 8,700 56,550 55,250 STI HLDG 1.37 1.37 1.35 1.37 1.35 1.35 1,651,000 2,239,740 -1,427,030 BELLE CORP 1.35 1.37 1.35 1.38 1.34 1.34 140,000 189,050 -100,150 BLOOMBERRY 113,130,050 2.57 2.58 2.64 2.65 2.57 2.58 43,487,000 -1,967,990 PACIFIC ONLINE 1.79 1.83 1.85 1.88 1.79 1.8 19,000 34,280 -1,850 DIGIPLUS 16.4 16.42 15.7 16.4 15.68 16.4 6,690,300 107,761,688 8,095,032 7.08 7.09 6.59 7.08 6.52 7.08 8,967,400 61,442,651 -8,029,650 PHILWEB 0.047 0.049 0.05 0.043 0.047 251,300,000 12,259,900 -1,492,500 ALLDAY 0.054 0.345 0.36 0.375 0.325 0.36 17,430,000 6,244,650 199,150 ALLHOME 0.385 1.18 1.2 1.16 1.2 88,000 105,480 METRO RETAIL 1.2 1.2 39.8 39.55 39.1 40 1,755,600 70,038,400 -9,717,980.00 PUREGOLD 40 40 35.95 36.2 35.6 36.25 35.6 35.95 266,200 9,564,955 -2,139,865 ROBINSONS RTL PHIL SEVEN CORP 36.75 37 36.95 37 36.7 37 28,300 1,045,670 -122,270 SSI GROUP 2.73 2.73 2.63 2.62 2.62 2.67 98,000 263,980 53,400 UPSON INTL CORP 0.69 0.71 0.71 0.71 0.69 0.71 25,099,000 17,569,360 7.29 7.3 7.2 7.4 7.2 7.3 8,938,100 65,273,613 2,309,768 WILCON DEPOT IPM HLDG 1.81 2.3 2.2 2.2 2.19 2.19 2,000 4,390 0.255 0.255 0.243 0.245 0.242 0.255 160,000 39,580 MEDILINES 1.56 1.7 1.7 1.55 1.55 86,000 134,490 1,580 1.65 PHILCOMSAT MINING & OIL ATOK 2.25 2.37 2.39 2.39 2.2 2.25 36,000 81,030 13.86 13.88 14.28 14.3 13.66 13.88 6,932,000 96,388,574 12,219,552 APEX MINING 7.5 7.6 7.65 7.69 7.3 7.6 1,789,100 13,483,527 2,949,014 ATLAS MINING 5.36 5.25 5.25 5.36 326,500 1,721,674 BENGUET A 5.37 5.37 5.11 5.6 5.4 5.4 5.4 5.4 100 540 BENGUET B DIZON MINES 4.91 5.18 5.2 5.2 4.89 5.18 28,400 141,389 0.32 0.34 0.31 0.345 0.31 0.34 3,450,000 1,124,650 -15,200 EC VULCAN FERRONICKEL 153,408,290 1.86 1.88 1.86 1.94 1.84 1.86 82,458,000 -311,790 GEOGRACE 0.125 0.115 0.119 0.125 0.11 0.119 2,100,000 241,840 10,080 LEPANTO A 0.205 0.206 0.212 0.212 0.205 0.206 44,360,000 9,240,930 0.21 0.21 0.205 0.21 0.202 0.205 1,000,000 205,860 LEPANTO B 0.008 0.0081 0.0081 0.0082 0.008 0.0081 165,000,000 1,331,000 MANILA MINING A 0.0081 0.0082 0.0081 0.0083 0.0081 0.0082 3,000,000 24,600 MANILA MINING B 0.84 0.85 0.83 0.83 0.85 16,494,000 14,065,810 573,290 MARCVENTURES 0.89 0.375 0.41 0.445 0.44 0.44 80,000 35,450 NIHAO 0.445 4.61 4.63 4.6 4.7 4.55 4.63 22,438,000 103,617,210 17,238,830 NICKEL ASIA 37.95 38 39.05 39.45 37.8 38 807,700 30,972,750 OCEANAGOLD -9,300,555.00 ORNTL PENINSULA 0.47 0.475 0.45 0.485 0.45 0.47 700,000 329,200 37,550 PX MINING 11.48 11.58 11.78 11.84 11.38 11.58 12,284,800 141,837,708 48,581,630 UNITED PARAGON 0.0053 0.0053 0.005 0.0051 0.005 0.0053 223,000,000 1,161,700 3.3 3.39 3.29 3.4 3.29 3.4 2,000 6,690 ENEX ENERGY 0.012 0.013 0.011 0.012 0.011 0.012 405,200,000 4,857,500 ORNTL PETROL A 0.012 0.013 0.012 0.012 0.012 0.012 78,900,000 946,800 ORNTL PETROL B 0.0088 0.0089 0.0089 0.0089 1,000,000 8,900 0.0089 0.0089 PHILODRILL 2.46 2.52 2.53 2.54 2.45 2.52 402,000 999,460 -5,080 PXP ENERGY PREFFERED ACEN PREF A 1,020 1,025 1,020 1,025 1,020 1,025 105 107,125 -102,000 1,066 1,089 1,080 1,089 1,066 1,089 625 673,020 143,910 ACEN PREF B 2,490 2,504 2,504 2,504 2,490 2,490 120 299,100 -50,080 AC PREF AR 1,988 1,998 1,998 1,998 1,998 1,998 25 49,950 AC PREF B3R 2,002 2,020 2,020 2,020 2,002 2,002 60 120,300 -20,200 AC PREF B4R 98 99.2 99.4 99.4 99.4 99.4 40 3,976 BRN PREF A BRN PREF B 102 103 102 102.7 102 102.7 140 14,357 107 107.5 107.5 107.5 107.5 107.5 120 12,900 BRN PREF C 35 35.9 35.4 36 35 35 600 21,260 CEB PREF 1,007 1,028 1,027 1,028 1,027 1,028 10 10,275 CLI PREF A1 1,031 1,060 1,060 1,060 1,060 1,060 60 63,600 CLI PREF A2 100.9 101 102 102 101 101 1,570 158,670 -8,180 CPG PREF B 96.15 96.6 96.5 96.65 96.1 96.65 17,690 1,704,194 DD PREF 98 98.95 98.9 98.95 98.3 98.3 5,050 499,565 494,650 EEI PREF B 977 990 990 990 977 977 2,760 2,700,250 JFC PREF B 100.1 102.6 102.7 102.7 102.7 102.7 100 10,270 MWIDE PREF 5 100.5 104 103 103 100.5 100.5 100 10,200 MWIDE PREF 6B 101 104 104 104 104 104 10 1,040 MWIDE PREF 7A PCOR PREF 3B 1,000 1,035 1,000 1,000 1,000 1,000 50 50,000 990 999.5 999.5 999.5 989 990 1,190 1,177,175 PCOR PREF 4A 1,011 1,099 1,049 1,049 1,049 1,049 10 10,490 PCOR PREF 4E 79 79.1 79 79 79 79 40 3,160 SMC PREF 2L 79.1 80.5 80.5 80.5 79.1 79.1 1,580 125,524 SMC PREF 2N 81.2 81.3 81.2 81.3 81.2 81.3 1,140 92,681 SMC PREF 2O 76.1 77.5 76.1 76.1 76.1 76.1 100 7,610 -7,610.00 SMC PREF 2R 75.65 77.85 76 76 76 76 10 760 SMC PREF 2S 77 79.4 79.4 79.4 79.4 79.4 10 794 SMC PREF 2T 12.9 13 12.9 12.9 12.9 12.9 1,600 20,640 TECH PREF B2C 8.3 8.46 8.31 8.46 8.31 8.46 7,600 64,242 TECH PREF B2D 90 92.25 92.2 92.25 90 92.25 2,260 207,359.50 32,288 VLL PREF 2A VLL PREF 2B 90.3 93.15 93.1 93.1 93.1 93.1 1,980 184,338 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

WARRANTS

AGI WARRANT

3.61 4.46 5.5 5.58 5.5 5.5 5.5 5.5 12,700 69,850 1.07

SMALL, MEDIUM & EMERGING

BALAI FRUITAS HAUS TALK ITALPINAS KEPWEALTH MAKATI FINANCE MERRYMART XURPAS NEXGEN ENERGY

0.335 1.01 0.88 1.56 1.36 0.42 0.242 3.04

1.09

1.07

1.06

1.07

1,123,000

1,193,560

-911,590

0.35 1.02 0.91 1.9 0.435 0.25 3.08

0.345 1.03 0.89 1.29 1.9 0.44 0.245 3.03

0.345 1.03 0.91 1.56 1.9 0.44 0.25 3.03

0.335 1.02 0.89 1.29 1.9 0.42 0.241 3.02

0.335 1.02 0.91 1.56 1.9 0.435 0.25 3.02

170,000 62,000 2,000 87,000 1,000 280,000 1,370,000 17,000

57,950 63,290 1,800 118,530 1,900 120,600 332,660 51,400

890 -3,870 -48,000 -2,600 18,180

EXHANGE TRADE FUNDS FIRST METRO ETF

105.9

106.8

105.5 106.8 105.1 106.8 31,840 3,386,638 49,556

www.businessmirror.com.ph

Banking&Finance

Allianz PNB sees upside in low insurance levels

IFE insurer Allianz PNB Life Insurance Inc. is leveraging the Allianz Groups’ global infrastructure and expertise to deliver stronger protection for its policyholders and secure more Filipino families as insurance penetration in the country remains low. In a news briefing last Thursday, Allianz PNB Life President and CEO Joseph Gross said there is a “huge upside potential” in the country’s low insurance penetration rate, currently at 1.85 percent. “Even if economic outputs are low, people don’t really feel it yet in their wages. Some will be more cautious,” Gross said, as people still have disposable income they can channel to protecting their families. “If there’s huge economic uncertainty, then of course things will change, but we remain very positive for the Philippines in terms of value growth potential,” Gross added. W hile Philippine economic growth slowed in the second half of 2025, Gross said the company did “not really” feel a significant negative impact in its performance. He said they expect Allianz PNB Life’s full-year results to still show it attained targets. In the same briefing, Chief Financial Officer Lukas M. Cacayan said the insurer’s mission is always to post double-digit growth rates in all aspects of their balance sheet. “We are not just a Filipino company. We are best equipped globally, in terms of not just value creation, but also capital enterprise risk management and governance strategies,”

Cacayan added. Because Allianz is a global group, Gross said the company has experienced various disruptions in different countries and has built frameworks to adapt quickly, as well as abiding by the highest global standards for anti-money laundering. “You’re putting your life and your families, you’re entrusting it in the long run, so you want to have a company that has the strictest standard,” Gross added. The reasons insurance penetration remains low in the Philippines, which Gross said is a trend common across Southeast Asia, are due to low financial literacy, affordability issues and complex products. To expand coverage, Allianz PNB Life is focusing on simplicity, transparency, and ease of doing business, offering products that are understandable and digitally accessible. A case in point is our insurance product for single mothers, designed with basic benefits to address their specific needs, affordable pricing and automated sign-up for convenience, read documents from Allianz PNB Life. For this year, the insurer targets to penetrate affluent and high-networth segments as well, providing protection, health insurance and international coverage through banking channels. Allianz PNB Life has an exclusive distribution partnership with the Philippine National Bank and PNB Savings Bank, as well as a partnership deal with HSBC Insurance Brokers Inc. Reine Juvierre S. Alberto

China’s new loans shrink to least on weak demand

HINESE banks extended the smallest amount of new loans since 2018 last year despite an uptick in December, in a reflection of sluggish demand from borrowers that’s weighing on growth. Financial institutions provided 908 billion yuan ($130 billion) of new yuan loans in December, according to Bloomberg calculations based on data released by the People’s Bank of China last Thursday. That far exceeded forecasts and was more than double the total in November. Still, for all of 2025, new loans reached a seven-year low of 16.27 trillion yuan. Aggregate financing, a broad measure of credit, increased 2.2 trillion yuan in the month, compared with a median forecast of 1.9 trillion yuan. “We do not expect much of an acceleration in credit growth in 2026 given the focus on credit efficiency,” said Michelle Lam, Greater China economist at Societe Generale SA. China is in the grip of an extended slowdown in loan growth that started in early 2023 and showed no letup last year. Weak consumer spending and business investment have pushed the economy into a deflationary spiral, which sapped their appetite for borrowing by eroding corporate profits and workers’ wages. Another drag came from the government’s effort since late 2024 to reduce “hidden” or off-balance sheet debt. Beijing directed local authorities to sell more bonds that replaced much of that debt, some of which was in the form of bank loans. The situation may not improve until mid-2027, when the impact of the campaign should taper off as the deadline approaches for clearing the hidden liabilities, he added. Faster government bond sales in the first half of last year initially provided enough of an offset to engineer a rebound in overall credit growth at the time. But their effect has faded in recent months as a higher base of comparison from

2024 kicked in, pulling the expansion rate lower. The collapse of lending to households is another key reason behind the weak credit expansion. It adds to evidence that the fallout from China’s property downturn is far from over, as individuals refuse to take on more debt. With home prices still in decline, more people will fall into deeper financial trouble as the value of their homes sinks below the amount owed on them. All of these factors are a key barrier to a sustainable recovery of consumer spending. The extent of the deterioration in credit doesn’t mean officials will act any time soon. The People’s Bank of China has signaled its tolerance of the slowdown, as it takes a patient approach with the economy’s transition toward new growth drivers such as advanced technologies. The central bank is increasingly on the sidelines when it comes to managing an economy hampered by weak demand and deep-seated imbalances, with fiscal stimulus expected to do most the heavy lifting. Economists still expect the PBOC to deliver modest easing in 2026, including 20 basis points of cuts in its policy interest rate, according to a Bloomberg survey. Without a turnaround in demand for financing, however, that’s unlikely to reverse the decline in credit expansion. Last Thursday, the PBOC’s Deputy Governor Zou Lan signaled China has room to further reduce rates and lenders’ reserve requirement ratio. The central bank also stepped up targeted support for the economy with a decrease to the cost of its structural lending tools. For ANZ, the latest guidance from officials suggests a reduction in the RRR is unlikely before the Lunar New Year next month. “As we expected, the policies focus on targeted areas, aiming to lower the liability costs for banks,” Xing said. “We do not think these policies can be game changers.”

Bloomberg

BusinessMirror

Editor: Dennis D. Estopace • Friday, January 16, 2026

BIR to use TikTok in digital tax awareness campaign

By Reine Juvierre Alberto

@reine_alberto

HE Bureau of Internal Revenue (BIR) is in talks with executives of ByteDance Philippines Inc., operator of TikTok in the country, for a potential partnership to strengthen digital tax education and improve voluntary compliance as part of this year’s national tax campaign.

A statement the BIR issued last Thursday read that Internal Revenue Commissioner Charlito Martin R. Mendoza met with ByteDance Head

of Public Policy Yves Gonzales to discuss the proposed collaboration. According to the BIR, ByteDance would assist the agency in spread-

ing key tax messages during the Tax Awareness Month, observed during the month of February. This would be done via short, platform-specific videos and creator-led content over TikTok. Mendoza said the BIR, in turn, will hold online and in-person workshops to address typical compliance issues, filing and payment procedures, taxable income streams, and taxpayer registration. As the bureau aims to reach taxpayers in areas where they already consume information, digital platforms have emerged as crucial tools in encouraging voluntary compliance, the BIR Chief said. “Information dissemination in digital platforms is no longer optional; it is necessary. We must go where the new generation of taxpayers are,”

the commissioner said. “This initiative complements our ongoing digitalization efforts and is in line with the President’s directive to make government transactions easier, as well as the guidance of the Secretary of Finance to create all possible means to strengthen tax collection while providing better assistance to taxpayers,” Mendoza added. According to the BIR, ByteDance agreed to assist the agency. “We look forward to supporting the BIR in transforming the way they connect with the public through accessible, relatable, and engaging content through their official TikTok channel,” Gonzalez said. In the upcoming weeks, the BIR’s official TikTok account will be launched, along with workshops and the release of collaborative content.

Keep going, come what Japanese firm tops Bataan may: A new year’s Mantra Freeport zone taxpayers for Association Leadership

S we step into a new year, many of us pause to reflect on what has passed, what remains unfinished, and what lies ahead. In moments like this, I find myself returning to a simple but steady leadership mantra: “keep going, come what may.” It is neither blind optimism nor stubborn persistence, but a quiet resolve to remain anchored to purpose even when the path forward is uncertain. The beginning of the year often brings renewed energy and fresh plans. Yet seasoned association leaders and professional staff know progress is rarely linear. Budgets tighten, priorities shift, member needs evolve, and unexpected challenges emerge. In this context, “keep going, come what may” offers a perspective. It reminds us that leadership is not defined by perfect conditions, but by consistency, i.e., by the willingness to continue serving even when circumstances are less than ideal. For associations, whose missions extend beyond calendar years and leadership terms, perseverance is essential. Unlike organizations driven solely by short-term metrics, associations exist to build communities, represent shared interests, and create long-term impact. This work requires patience and steadiness. Keeping going does not mean rushing ahead; it means taking deliberate steps, staying present, and remaining committed to the collective good. The mantra also resonates deeply with the Filipino spirit. As a people, we are no strangers to uncertainty. Our history and daily realities have shaped a culture of resilience, adaptability, and mutual support. Values such as “bayanihan” (collective effort) and “malasakit” (compassion) remind us that moving forward is often a shared effort. Associations embody this same spirit: bringing individuals together not only to advance professional or sectoral goals, but to support one another through change. As the year begins, many associa-

Association World Octavio Peralta tions are setting agendas, approving plans, and articulating priorities. While these are important, equally vital is the mindset that leaders bring into the year. “Keep going, come what may” encourages leaders to stay grounded when enthusiasm fades, to adapt when plans need revisiting, and to persist when results take time. It invites professional staff to recognize the value of their daily efforts, often unseen, yet critical to organizational continuity and trust. Importantly, this mantra does not suggest resisting change. On the contrary, it embraces learning and adaptation. Keeping going may require recalibrating strategies, exploring new ways of engaging members, or rethinking how value is delivered. What remains constant is the commitment to mission and service. At the start of a new year, optimism comes naturally. But leadership is tested not at the moment of intention, but in the months that follow. When momentum slows or challenges arise, this mantra serves as a quiet reminder: purpose endures beyond obstacles. As we look ahead, may association leaders and professional staff enter the year with clarity, courage, and compassion. To keep going, come what may, is to honor the trust placed in us and to believe that steady, collective effort can continue to make a difference, one year at a time.

Octavio Peralta is the founder and volunteer CEO of the Philippine Council of Associations and Association Executives, the “association of associations.” The views he expressed herein do not necessarily reflect those of the BusinessMirror. E-mail: bobby@pcaae.org.

MITSUMI Philippines Inc. General Manager Yoshitaka Kitahara (third left) and managers Kriscel Joy L. Junio and Jun R. Fevidal flash the No. 1 sign with Gov. Jose Enrique S. Garcia III (second left) and other Bataan officials after receiving the “Sinag ng Bataan” award. CREDIT: AUTHORITY OF THE FREEPORT AREA OF BATAAN

By Henry Empeño

ARIVELES, Bataan—Japanese electronics company Mitsumi Philippines Inc., a business locator at the Freeport Area of Bataan (FAB) here, was recognized by the provincial government of Bataan as the top taxpayer among 153 enterprises registered in the Bataan free port zone. Mitsumi General Manager Yoshitaka Kitahara received the recognition during the “Sinag ng Bataan” awards ceremony held last Friday as part of Bataan’s 269th Foundation Day celebration. The citation was based on the firm’s 1-percent share from the 5-percent tax on gross income earned as a FAB-registered enterprise. The recognition, the firm said in a statement, reflects their “continued commitment to responsible corporate citizenship and meaningful contributions to nation-building and local development.” Mitsumi, which is owned by the Japanese electronics giant MinebeaMitsumi Inc., produces semiconductors, camera actuators, connectors, power supplies, and other electronic components from its factories in Bataan and Cebu. The firm’s total Philippines production contributed about $1.9 billion,

which is equivalent to 15.1 percent of MinebeaMitsumi’s total distribution, as of end March 2025, according to financial highlights released by the Japanese conglomerate in July last year. Aside from Mitsumi, four other FAB-registered companies were in the Top 5 taxpayers list based on their revenue share, according to the Authority of the Freeport Area of Bataan (AFAB). These include the East-Cam Tech Corp., which manufactures outdoor gear and equipment, and Dunlop International Philippines Inc., manufacturer of sporting and athletic goods. Property developer Ruzena Estates Development Corp. and prescription lenses producer Essilor Manufacturing Philippines Inc. joined the list. The provincial government also recognized several top-notch Philippine companies for their tax contributions during the awards night. These were: San Miguel Foods, Inc. for real property tax in agricultural business; Ayala Land, Inc. in commercial business category; GN Power Mariveles Energy Center Ltd. in industrial business; Petron Corp., industrial business category; Fiesta Communities, Inc. in residential business; Subic Bay Development & Industrial Estate Corp., residential business category; and, Philcomsat Holding Corp. in the business category.

Central bankers show solidarity with Powell

ENTRAL bankers threw their support behind Chairman Jerome Powell after the Trump administration ratcheted up its already unprecedented pressure campaign against the Federal Reserve. Reacting to the threat of criminal charges being leveled at the US monetary authority, central bank chiefs including those at the European Central Bank, Bank of England and the Bank of Canada said they “stand in full solidarity” with the Fed and Powell. Central bank governors in South Africa, Iceland and Indonesia added their names to the statement. Powell himself has also adopted a combative tone in recent days, accusing Donald Trump of seeking to wrest control over monetary policy after the president spent months complaining interest rates are too high.

“The independence of central banks is a cornerstone of price, financial and economic stability in the interest of the citizens that we serve,” the central bankers said Tuesday in a statement. “It is therefore critical to preserve that independence, with full respect for the rule of law and democratic accountability.” The coordinated response underscores growing alarm that monetary autonomy within the world’s most important central bank is being actively dismantled. Such collective action has usually been reserved for global emergencies like the 2008 crash and the pandemic — not the defense of an individual central banker. The Fed was served grand jury subpoenas from the Justice Department threatening a criminal indictment—an action Powell said is related to his June

congressional testimony on renovations of the Fed’s headquarters. The move “should be seen in the broader context of the administration’s threats and ongoing pressure,” he said. “The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the president,” Powell said Sunday in a written and video statement. Some central bankers were notable by their absence from the statement. Among the Group of Seven, Bank of Japan Governor Kazuo Ueda didn’t sign. The BOJ refrains “from commenting on the responses of other central banks,” the media relations division told Bloomberg in a statement. “The BOJ has always had an ambigu-

ous attitude toward central-bank independence, even though technically it is,” said AXA Group Chief Economist Gilles Moec. “There’s a consensus within the institution that, yes, the government has opinions on monetary policy, and there’s also a consensus that the BOJ should listen.” Trump has repeatedly called for aggressive rate cuts, arguing the Fed should be acting to boost housing affordability and ease the government’s borrowing costs. In an interview Sunday with NBC News, the US president denied having any knowledge of the DOJ’s investigation into the central bank. White House Press Secretary Karoline Leavitt told reporters Monday that the president hadn’t ordered the probe and defended his right to criticize the central bank. Bloomberg

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How travel in 2026 is shi�ting from escape to meaning PHOTO BY TIMO STERN ON UNSPLASH

TODAY’S HOROSCOPE By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Max Joseph, 44; Richard T. Jones, 54; Debbie Allen, 76; John Carpenter, 78. HAPPY BIRTHDAY: Emotions, money and communication will collide this year if you don’t choose your words wisely. It will be easy to send the wrong message or to be misled by others. When in doubt, ask questions, verify what others expect of you and make what you want in return equally as straightforward. Once you establish ground rules, everything else will fall into place if you follow proper protocols. Your numbers are 2, 14, 24, 26, 30, 37, 45.

ARIES (March 21-April 19): Take a break. Examine

your routine, how you spend your time and earn your living, and how much attention you give to doing the things you love most. It’s time to realign your schedule to meet your demands. Eliminate wasted time and channel your energy into what brings you joy and creates fond memories. ★★

HE New Year is usually a time for decluttering and a reset. Traveling, for one, is one of the ways we can all reset, reflect and recover from the career pressures or personal hassles our everyday lives bring. Malacañang has already released the calendar of holidays for 2026 and while there seem to be fewer days when we can take a vacation, this hasn’t stopped friends and family members from planning their trips. A few of them, for instance, have spoken about returning to Japan, but this time to another part of the country after having explored Tokyo and Osaka. Another wants to go back Da Nang in Vietnam, which offers interesting natural scenery, although personally, the capital Ho Chi Minh (Saigon) is, in itself, not a bad deal especially if one is on a food trip. According to the BBC, and travel publications, like the National Geographic or Condé Nast Traveller (CNT), there are a few emerging travel trends this year: ■ ‘QUIETCATIONS.’ Travelers are trying to find more ways to leave the stresses of their daily lives and looking for trips to help them unplug. There are cabins in the United Kingdom, for instance, that allow their guests to detoxify as the latter cite too much screen time as a reason for their burnouts. (I’ve tried to do this—unplug at the beach. But the call of Instagram and the urge to share the perfect sunset I had just witnessed were too much of a temptation.) ■ GROCERY SHOP TOURISM. Who hasn’t been to Japan and not picked up an instant ramen at 7-Eleven or a tamago (egg) sandwich Lawson’s? Tourists may not have enough budget to explore a destination’s popular culinary creations through its Michelin-starred restaurants, but anyone can just pop in to Trader Joe’s and get its Butternut Squash Ravioli and its now popular canvas tote. In my case, I enjoy shopping at Waitrose in London and picking up butter scones and a tub of clotted cream. ■ THE BOOK CLUB. Gone are the days when bazillions of travelers chose Boracay or Ibiza for cool, alcohol/drug-fueled rave parties that went on from the late afternoons to the next morning. These days, people are traveling to destinations depicted in literary bestsellers or featured in movies or streaming series; the latter is called “Setjetting”. For a while, Filipinos were enamored with Switzerland after having watched the K-drama Crash Landing on You. The BBC predicts Cornwall will be a hit this year, which is where the new Harry Potter TV series is being filmed. There are also “Book Club retreats” now available for bookworms. ■ ANCESTRY TRAVEL. One of my favorite shows on YouTube is Finding Your Roots, hosted by professor Skip Gates. It features popular actors, singers and other celebrities who try to trace the beginnings of their families through ancestry documents and DNA analysis. Many of the guests travel to places and distant locations, even other countries, looking for physical evidence of their ancestors and learn how the latter may have lived, even possibly meeting surviving relatives.

TAURUS (April 20-May 20): Lean into whatever you do, and you’ll feel the benefits that come with feeling good about what you achieve. Personal and professional gain is within reach with a bit of time and effort on your part. Positive change will heighten your day. Partnerships will flourish if you discuss long-term plans. ★★★★★

GEMINI (May 21-June 20): Put your energy where

it counts. Research, learn from experts, travel and prepare for what you want to pursue. Refuse to let anyone mislead or take advantage of you. Set your sights on what’s feasible, and establish a budget. Life choices will be much easier if you are organized and have a plan in place. ★★★

CANCER (June 21-July 22): Invite change into

your world. The possibilities are endless if you are willing to put yourself out there. Listen to your heart, consider what others have to offer in return and start conversations that have substance. Make choices that put your mind at ease and encourage you to move forward with a positive attitude. ★★★

LEO (July 23-Aug. 22): Take the initiative to make amendments where necessary. Deal with institutions and government agencies, and tie up unfinished business. Clear a path to bigger and better opportunities. Let your imagination lead the way, and discuss your dreams with someone you want in your sphere as you move forward. Self-improvement and love are on the rise. ★★★

VIRGO (Aug. 23-Sept. 22): Sign up for an activity,

seminar or personal pampering appointment, and start the weekend off with a smile on your face. Take advantage of an opportunity to catch up with someone you love or to make plans that give you something to look forward to. Focus on creating a positive change in mindset and routine, and you will flourish. ★★★★★

LIBRA (Sept. 23-Oct. 22): Rethink your lifestyle. Exposing yourself to a change will help you rediscover yourself and what you want to do next. Embrace new beginnings; check out people, places and positions of interest, and see what’s most appealing. Transition may scare you, but stagnation won’t solve your discontent. Attend events that offer insight into lifestyles that promote simplicity, structure and solutions. ★★★

A few tour operators are now specializing in such genealogy trips, especially since it’s much easier now to find birth/marriage/death documents online, and they offer hotels with ancestry experts as well as curated trips. “In 2026, ancestry travel isn’t escapism—it’s coming home,” says CNT. ■ NICHE RETREATS. Destination management companies are now catching up to the fact that there may be no “one size fits all” tours for their clients. So they are slowly but surely finding ways to provide tailor-made destinations and activities for their guests. Matt Poonin, general manager of Travelite Travel and Tours, recently told me that European clients who are interested in visiting the Philippines inquire about “community-based activities, culturally rooted experiences, and trips that support conservation and local livelihoods.” And aside from the usual favorites like Palawan, Bohol, Cebu, Siargao, Banaue, and Sagada, many of Poonin’s travel buyers have also been drawn to Camiguin, Siquijor, and Dumaguete. “They see these destinations as peaceful, authentic, and ideal for travelers who want meaningful journeys that directly benefit local communities.” ■ THE YOUNG AT SEA. According to the Cruise Lines International Association (CLIA), cruise passengers are getting younger with 46.5

as the average age of a cruise traveler. “Gen-X and Millennials are the most enthusiastic about booking another cruise holiday, at 84 percent and 83 percent respectively,” said CLIA. Cruise lines are now offering meaningful experiences instead of rigid schedules, curated food instead of lavish buffets, and retro parties. Cruise passengers can freely socialize with their fellow passengers, or choose to spend a day on a wellness retreat. Wherever you’re headed off this year, always be mindful of your fellow travelers (especially if you’re touring solo)—not everyone wants to hear you Facetiming your loved ones back home, or the latest episode of TV series you’re following (use your ear buds, damn it!). Always be respectful to the locals; there is no Fettucine Alfredo in Italy so don’t insist on ordering it at the nonna-run restaurant. Try to speak in softer tones, dress appropriately, and generally avoid unruly behavior in public spaces. A number of destinations from Barcelona to Japan are starting to resent foreign tourists due to what locals see as rising disrespectful behavior. So read up on a destination before traveling to find out the local customs and traditions to be sure not to offend. Travel is a great way to make new friends and expand one’s horizons. Enjoy it, wherever you may find yourself this year.

SCORPIO (Oct. 23-Nov. 21): Emotions and

money won’t mix. Spending on something you don’t need may give you a rush at first, but it won’t last. Pay more attention to what matters. Be resourceful, learn something new, spend time with those who bring out the best in you and count your blessings. ★★★

SAGITTARIUS (Nov. 22-Dec. 21): Be careful not to share sensitive information or be too accommodating with those trying to take advantage of you. Protect your home, family and future by being resourceful and knowing when to say no. Opportunity begins with you and your ability to do for yourself. ★★★

CAPRICORN (Dec. 22-Jan. 19): Take the time necessary to go over fine details to ensure you aren’t taking on more than you can handle. Opportunities are good only if they are worthwhile. Consider whether you want to pursue what someone offers or choose a different path. Emotional manipulation is apparent. ★★★

AQUARIUS (Jan. 20-Feb. 18): Sit tight, observe and consider the cost associated with any change you want to make. Do your research, look for deals and get what you want in writing. Someone will take advantage of you if you are too agreeable. Put emotions aside and your money and possessions in a safe place, and be straightforward about your concerns. ★★★

PISCES (Feb. 19-March 20): You are in a better

position than you realize. Take advantage of an opportunity to mingle, socialize, network or address issues of concern. Participation is the way to get things done and to infiltrate and connect with people who can help you bring about positive change. ★★★★

BIRTHDAY BABY:

You are ambiguous, creative and sympathetic. You are unpredictable and beguiling.

‘cha-ching!’ BY HANH HUYNH

The Universal Crossword • Edited by David Steinberg/Anna Gundlach/Jared Goudsmit/Andrian Johnson/Taylor Johnson ACROSS 1 What a sleeping person “saws” 5 Easy throw 8 “Let’s ride this horse together!” 13 For every person 14 That special something 16 Toughen 17 Pastor’s request 19 Bulky books 20 Biblical mount 21 Casual meeting 23 Dispensary purchase, informally 24 Biochemist’s workplace 25 ___ Demand Action (parent-led grassroots movement) 27 New Mexico art town 29 Bickering 31 Television service used for airing boxing matches 35 A bit tricky 37 Neat 38 Atlanta WNBA team 39 Setting for The Menu or Cast Away 41 Sushi serving 42 Source of Paycheck Protection Program loans: Abbr.

44 Hoofbeat sound 46 Formerly named 47 Lie out on a super hot day 52 Slightly 53 Bright shade of pink 54 ___ road (ice cream flavor) 58 Ellipsis part 59 Barking aquatic mammal 60 Oblong Pepperidge Farm cookie 61 Blow away 63 Turn a profit...or what it sounds like the first two words of the starred clues’ answers do? 65 Tendon 66 Strong impulse 67 Red ___ cup 68 Glances over 69 Whispered “Yo!” 70 Volleyball hits before spikes DOWN 1 Dreamy place 2 Forklift ___ (certain warehouse worker) 3 Grabbed lunch, say 4 San Antonio NBA player 5 Portable computers

6 “We did ___ best” 7 Like the sound of trumpets and trombones 8 Severely affected 9 Activist and musician Yoko 10 Lifts weights 11 Classic cookie 12 Bird’s home 15 “Yes, captain!” 18 Friend of Frodo 22 Sound systems 26 “Will you allow me?” 28 Under’s opposite 30 Playfully mocked 32 What a honey bee collects 33 French fashion magazine 34 Noah of The Pitt 36 Prefix with -dextrous 40 Well-educated people 43 Diarist Frank 45 Jewish festival also called “Feast of Lots” 47 Totally awesome 48 ___ Fireball (spicy candy) 49 Japanese sword seen in “Kill Bill” 50 Join forces

51 “I didn’t need it anyway” 55 Paddled boat 56 Got down to a toddler’s level, say 57 They’re wound up before they sleep! 59 Puts in stitches 60 Track event 62 Buddhist sect 64 Metric wts.

Solution to today’s puzzle:

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Show BusinessMirror

Editor: Gerard S. Ramos • Friday, January 16, 2026

Confessions of a clinically stable Sharonian

BY RENE SAMANIEGO

SOMETIMES think my education as a fan began before I knew what fandom was. One of the earliest vinyl records I remember owning (and I use the word “owning” in the way a child claims something as his) was a Sharon Cuneta album called DJ’s Pet. It spun endlessly on my very first record player, its grooves quietly shaping the emotional architecture of my childhood. At that time, I did not yet know about attachment, introjection, or transitional objects. I only knew that there was something steady and reassuring in her voice, something that felt like presence. In Bulacan, our next-door neighbor, whom I have always just referred to as Mr. Garcia and Mrs. Garcia, had a helper named Betty. She was a die-hard Sharonian. Through open windows and thin walls, Sharon’s songs drifted into our Saturday and Sunday afternoons in the early ‘80s, becoming part of the ambient soundtrack of my growing up. My Tita Landa—my mother’s sister, whom I fondly called Nanay—was another devoted fan. Loving Sharon was, in many ways, communal: passed on, modeled, and shared. Fandom was not learned through analysis; it was absorbed through proximity. I watched every Sharon movie on opening day. Premiere nights were a fantasy (I never made it to one, though heaven knows I wanted to) but we compensated devotion with ritual. The moment Betamax tapes (and later VHS copies) of her movies were released, we bought them. My Tita would ask me to record every episode of The Sharon Cuneta Show every Sunday (I did it for her as much as for myself), as if the act of preservation itself was an expression of love. Whenever Sharon had a new movie coming out, my weekends would be charged with anticipation. We would be on the lookout for her promotional guestings on TV with a heightened alertness, scanning variety shows, like GMA Supershow for her face and her unmistakable presence. Her music, too, traveled with me through every phase of my evolving self. In high school, when I was immersed in pop, she was there. In college, when my musical appetite grew more complex—jazz in all its forms, from big band to modal, fusion to contemporary—my cassette collection featured Duke Ellington, Ella Fitzgerald, Michael Franks, Seawind, Manhattan Transfer, Hiroshima. And yet, tucked quietly among them were the soundtracks of Bukas, Luluhod ang mga Tala, Bituing Walang Ningning, and Sana’y Wala Nang Wakas. Later still, in medical school, during my heavy metal and grunge-alternative phase, my CD rack blared Metallica, Nirvana, Aerosmith, Def Leppard. And there, almost sheepishly, was my copy of For Broken Hearts Only. Back then, Sharon was my guiltiest pleasure, not only because my fandom embarrassed me, but because she reminded me of parts of myself I was afraid to outgrow. There were moments, therefore, when my fandom required logistical creativity. Lining up for Sharon’s movies in long theater queues was a peculiar exercise in adolescent selfconsciousness. I would stand there, hands in pockets, eyes fixed somewhere safely neutral, keenly aware of the possibility that someone might recognize me and silently diagnose my condition: a teenage male excessively invested in a romantic musical melodrama. Devotion, I learned early on, sometimes requires strategic nonchalance. Buying a Sharon Cuneta album, for a long time, required the operational mindset of a man evading

capture. I learned to visit record stores during off-hours when the air was quiet and the clientele sparse, conditions ideal for clandestine activity. Upon entering, I would conduct a quick visual sweep: number of customers, the likelihood of acquaintances, and the proximity of judgmental strangers. Only when the coast was clear would I approach the counter, moving with deliberate casualness. When I finally asked for the album, I would lower my voice to signal discretion. The cassette tape would be handed to me unceremoniously, which was itself suspicious. I would then proceed to the cashier, clutching my loot like contraband, convinced that everyone in the store now knew exactly who I was and what I had done. On especially risky days, I employed intermediaries. Friends, braver men than I, would buy Sharon’s albums on my behalf. In retrospect, I’m amused by the image of myself, a future psychiatrist, behaving like a fugitive over purchasing a perfectly wholesome OPM pop album. If this was pathology, it was at least charmingly nondestructive. By the time I reached postgraduate internship, my fandom had matured. But not enough to override impulse. There was a particular concert of Sharon at the Cuneta Astrodome that I knew, with absolute certainty, I just had to attend. Unfortunately, it coincided with hospital duty. Presented with an ethical dilemma, I made a decision that I would later understand through the lens of developmental psychology: I chose Sharon. I called in sick, deploying what I hoped was a convincingly ill voice, slightly hoarse but not dramatically tragic. I aimed for “probably viral.” I do not recall the exact symptoms I invented, but I do remember recovering with remarkable speed.

That night, as I watched Sharon sing onstage, I experienced no guilt, only a sense of profound psychological well-being. The following day, I returned to duty miraculously cured, clinically intact, and emotionally nourished. If medicine teaches us to respect evidence, then the evidence was clear: exposure to a live performance of Sharon Cuneta had therapeutic effects! But the peak of my fandom really came shortly after I finished my residency training in psychiatry, which is usually a period when one often feels an urge to do something wildly non-clinical after years of living, eating, and breathing psychiatry. I was in the middle of my French language class in Alliance Française de Manille when I received a call from a friend in the media. He offered me an assignment: to interview Sharon and write an article for the lifestyle section of BUSINESSMIRROR, in connection with her 25th anniversary concert at the Araneta Coliseum! [Thank you, Gerard Ramos!] I remember not sleeping for days. I crafted my questions with obsessive care, hoping to ask something she had not been asked before. Needless to say, it felt surreal when the moment finally came. Here was the voice of my childhood, now human and immediate, sitting across from me. There is a saying: Never meet your idol. The wisdom behind it suggests that idols are best loved at a distance, where fantasy remains undisturbed. And yet, such was not the case for me. Perhaps because by then, my idolatry had already evolved. I no longer needed her to be perfect. I only needed her to be real. In retrospect, all of these remind me that fandom, in its earlier forms, can be awkward, furtive, and occasionally irresponsible—but also intensely alive. What has changed over time is not the affection, but my willingness to own it without disguise. I no longer

need alibis. I can say plainly now what once required cover stories and accomplices. I was a fan. I still am. Just no longer in hiding. And now, I call in sick only when I actually am. Now, I understand that fandom is not static. It matures as the fan matures. What begins as idealization, intense and devotional, gradually stabilizes into something more grounded, more humane. The idol stops being an object of fantasy alone and becomes a companion through time. There is also a particular poignancy in witnessing one’s idol grow older, and in realizing that you are growing older with them. Age introduces texture to admiration. Youthful idolatry thrives on perfection; but mature admiration tolerates cracks, contradictions, and fatigue. The idol’s voice deepens; the roles change; the body bears time, but instead of diminishing affection, these transformations deepen it. What we admire is no longer just beauty or talent, but endurance, survival, and the courage to keep showing up. Today, as Sharon turns 60, and as I prepare to follow next year, I realize that fandom can occupy a quieter, steadier place in one’s life. It no longer demands vigilance or ritual. It simply is. Like a familiar song that no longer needs to be replayed obsessively to be remembered. To be a lifelong fan is to witness not just the aging of an idol, but the unfolding of one’s own life alongside them. The idol can be there through a fan’s innocence, ambition, professional becoming, and even reflective years. In admiring (even loving the idol’s work), the fan, perhaps unknowingly, gets to accept and love the many selves he or she has been and has become. And maybe that is the true psychology of fandom: not obsession, not escapism, but continuity. A quiet companionship across decades. A reminder that some attachments, when allowed to mature, do not imprison us in the past, but gently accompany us forward into the remaining of one’s future. Happy 60th birthday, Sharon!

JILLIAN WARD, DAVID LICAUCO, CASSY LEGASPI, BEAUTY GONZALEZ LEAD GMA STARS FOR SINULOG 2026

THE festive spirit of this year’s much-anticipated Sinulog Festival is set to reach new heights as GMA Network’s regional arm, GMA Regional TV, brings some of the country’s brightest stars for an unforgettable weekend of celebration in Cebu. On January 16, 2026, Kapusong Cebuanos will be treated to an afternoon of infectious energy and good vibes as Allen Ansay of TiktoClock together with Althea Ablan, Larkin Castor and Shan Vesagas headline the fun-filled Kapuso Mall Show at Ayala Central Bloc at 4 pm. More fun unfolds on January 17, with the exciting participation of Hating Kapatid stars Vince Maristela, Cheska Fausto, and Cassy Legaspi in the Kapuso Mall Show at The Terraces, Ayala Center Cebu at 4 pm. Adding to the exciting mall show experience are the surprises from Martin del Rosario, Mike Tan, and Beauty Gonzalez from the upcoming GMA afternoon series House of Lies, which is set to air on January 19. The Sinulog spectacle continues on January 18 via the Kapuso Mall Show bannered by Kim de Leon, David Licauco, and Jillian Ward of the upcoming GMA primetime series Never Say Die, airing in February. Catch them as they spread excitement and showcase their undeniable charisma at SM City Cebu, 4 pm. GMA Regional TV and Synergy makes the much-anticipated Sinulog Festival extra special on Sunday with its special live coverage of the Sinulog Grand Parade beginning at 1 pm. Catch the livestream via www.gmaregionaltv.com and on the social media pages of GMA Regional TV, GMA Regional TV News, and GMA Integrated News.

My L’ai and the wounding of America

THERE is something alien—different, distant, disconcerting—about the voice, the technology. A herd of sheep has been decimated. 6000 of them. The field. Journalist has named the cause: nerve gas. Now, the reporter is talking to a a farm owner who clailms members of his family were getting sick—throwing up—but they were were not sure what brought that about. The hard truth was the sheep were dying and no one was clearly responsible for them. This was going to be the pattern of events: a cause will bring about the danger but the sense of responsibility will be

abstracted, obscured. That otherwise distinct voice is that of Seymour Myron Hersh, an American investigative journalist and political writer who became famous for writing about the My L’ai massacre. It was was one of the most notorious cover-ups during the Vietnam War. Cover-up is now the title of this documentary, with Hersh’s reporting known for anonymous sources. While working as a Pentagon correspondent for the Associated Press (AP), Hersh cultivated many anonymous top and mid-level military sources. In the late 1960s, he reported on the highly secretive chemical and biological weapons programs. His reporting was later diminished but this formed a part of his book, titled Chemical and Biological Warfare: America’s Hidden Arsenal. The document was said to have contributed to the Nixon administration termininating the US biological weapons program in 1969. Hersh was not a mere journalist; he also, like any committed young man of the era, served as the press secretary for anti-Vietnam War candidate Senator Eugene McCarthy in his campaign in the 1969 Democratic Party presidential primaries. It was almost organic therefore that in 1969, Hersh would

be reporting on the My My L’ai Massacre—the killing of between 374 and 504 “unarmed Vietnamese civilians by US soldiers in a village on March 16, 1968. Those who survived were asked if there were children. Yes. Old people? Yes. They were all murdered. The young women were raped. Then killed. And then on a separate date—October 22, 1969— Hersh would get an information from Geffrey Cowan of the Village Voice, detailing a soldier being held at Fort Benning in Georgia. The soldier was scheduled for court martial for killing some 75 civilians in Vietnam. By this time, there was already the name of the soldier—Lieutenant William Calley. Soon, that infamous photograph of Army photographer Ronald L. Haeberle was flashed on the Cleveland Plain Dealer. On the lonesome ricefield scattered the dead bodies of women, children—helpless civilians. Hersh was relentless. Brave. Unflinching. Hersh would travel to other places. He interviewed Paul Meadlo, another soldier. In a quiet, isolated farmhouse, we listen to the soldier’s mother saying, “I sent them a good boy and they gave me back a murderer.” Apparently, Meadlo admitted to killing dozens of civilians on the order of Lieutenant Calley.

THE author with his idol, Sharon Cuneta

A compelling premise of Seymour Hersh career is his hesitance not to open up access to his work. I find however a very brave candor behind his grand biography. Hersh belongs to the rare breed of journalist. He may not have faced firing squads or bombs but the type of sleuthing—pardon the term—certainly made him an acute observer. Hersh also belongs to the wounded Americans—those whose sensibilities mark them for what they may have lost for what their generation could only imagine to be offered. Somehow, we are like them—losing the war because violence was taught to us the way we we learned about peace and nothingness. Throughout his career, we witness the war in Vietnam, the secret bombing of Cambodia, the Watergate Scandal which saw the fall of a US president, the CIA’s spying program, and the US war on terror. Much of these continue on and on. And the the cover-up goes on. Cover-up saw its world premiere at 82nd Venice International Film Festival in August 2025. It also screened at the Telluride Film Festival in August 30, and at the Toronto International Film Festival on September 10. It was also screened in the main slate of the 2025 New York Film Festival. Cover-up is now screening on Netflix.

B6 Friday, January 16, 2026

The Mall | NUSTAR recognized as Asia’s Best Lifestyle Mall Development

he Mall | NUSTAR has been awarded Best Lifestyle Retail Development (Asia) at the PropertyGuru Asia Property Awards Grand Final 2025, cementing its status as one of the region’s most distinguished luxury retail destinations.

The recognition was announced during the PropertyGuru Asia Property Awards’ 20th Anniversary Grand Final Gala Dinner held on December 12, 2025 in Bangkok, Thailand, where leading retail and property developments from across the region were honored. Purposefully designed as a lifestyle destination, The Mall | NUSTAR sets a new benchmark for luxury retail in the Philippines. With its architectural elegance, carefully curated international

In the photo are, from left, Mybelle V. AragonGoBio, President and CEO of Robinsons Land Corporation, Property Guru representative and May Adolfo, The Mall | NUSTAR General Manager. brands, and elevated dining and leisure experiences redefine how retail is

experienced in Cebu City, seamlessly blending shopping, culture, and lifestyle within NUSTAR Resort & Casino Cebu. The Best Lifestyle Retail Development (Asia) award places The Mall | NUSTAR among the finest developments across Hong Kong, Macau, China, Thailand, Malaysia, Indonesia, Vietnam, Singapore, Australia, Japan, Sri Lanka, the Middle East, and the Philippines, selected from over 90 categories recognizing the region’s most outstanding projects. “It is such an honor to receive this award for The Mall at NUSTAR. It truly reflects our vision of creating a masterpiece luxury mall in Cebu City, Philippines, developed by Robinsons Land Corporation. This recognition is a testament to the hard work and dedication of the team behind The Mall. We have come this far, and we will continue this journey with the same commitment to excellence,” said May Adolfo, General Manager of The Mall | NUSTAR. This milestone marks The Mall | NUSTAR as a defining lifestyle destination for Cebu and the region, highlighting its growing influence in shaping Asia’s dynamic retail landscape. Discover the latest updates and offerings at www.nustar.ph.

Empowering content creators, supporting livelihoods at Nestlé Professional’s first-ever TikTok affiliates event

OCIAL commerce has changed the landscape of discovering and purchasing products online. Through live selling and affiliate content creators on social media platforms like TikTok, buying an item is now as easy as scrolling on your feed, clicking the yellow basket and proceeding to checkout. This streamlined process is what brands are leveraging to keep up with today’s dynamic retail space and bring their products directly to consumers. Nestlé Professional, with its commitment to empower creators and foster collaboration in the food and beverage industry, gathered over 100 affiliates from Metro Manila and nearby cities to join the Nestlé Professional Creator Playground last November 5, 2025 Culinary experts conducted hands-on workshops and live demos using Nestlé Professional and Maggi Professional products that served as a guide for attendees to boost their selling potential and further elevate their content on TikTok. The event also featured informative and inspiring talks about content creation strategies, effective use of social media platforms, and best practices for monetizing content through affiliate marketing. “We recognize the growing influence of social commerce and the vital role that content creators play in shaping consumer preferences. By bringing together creators, we aim to provide them with the tools, resources, and support they need to thrive in this space,” said Nestlé Professional Business Executive Officer, Rica Mier. “This event is just the beginning of our goal to build a community where creators feel valued and empowered to share their

experiences with our brand.” Michelle Mendoza from Antipolo City is one of the content creators who joined the Nestlé Professional Creator Playground. According to her, she gained valuable insights from the event about developing more creative videos for her audience and driving sales. While new to the TikTok affiliate scene, Michelle has a background in business marketing that makes her comfortable in communicating with all types of people through live selling. “Swak kami ni TikTok at ng pag-a-affiliate. Yan ang aking passion. At yung gusto ko sa ganito, sarili mo yung oras mo.” Just like Michelle, fellow Nestlé Professional affiliate Jenalyn Vicente enjoys the freedom that being an affiliate provides especially to moms like her who are looking for an additional source of income. “Yung kinikita ko sa dati kong work, kinikita ko na rin ngayon. Sinisideline ko lang dati itong pag-a-affiliate. Mula pa-isa-isang items, dumami nang dumami dahil ina-approach talaga ng tao,” she shared. Self-proclaimed rakitero Genesis Quejada added being an affiliate to his long list of side hustles just after graduating college this year. He believes consistency and hard work are key to make it big in this line of work. “Yung strategy ko ay maglive for two hours in the morning and two hours at night. Yung pagitan ng oras ko na yun, I make more

content in batches para kung ma-busy man in the next days, may ready-made videos pa rin for posting,” he said. Because Nestlé products are pantry and kitchen essentials in Filipino homes, Michelle said they’re always in demand. Discounts vouchers and freebies also attract more consumers to their page and to check out the products they’re showcasing. This results in higher sales and bigger commissions for the affiliates. When asked about their long-term goals as an affiliate, everyone expressed their desire to earn enough to save for the future. Michelle and Genesis both also want to one day establish their own brands and employ affiliates of their own as a way to share their expertise and opportunities to others. Jenalyn, on the other hand, aims for financial security. “Kaya ako nag affiliate para makatulong sa family ko fully at magkaroon ng extra income. ‘Di na ako hihingi sa iba. Lahat ito sarili kong sikap.” Being an affiliate may seem easy at first look—just promoting products through videos and live selling—but it does come with its own set of challenges such as managing time wisely, coming up with engaging and fresh content ideas, and avoiding violations that may get your account banned, among others. Genesis advises new and aspiring affiliates to familiarize themselves well with the community guidelines and strictly adhere to them in creating content and during lives. Through the Nestlé Professional Affiliate Program, Nestlé aims to improve the livelihoods of its affiliates and help them maximize their potential as content creators. Check out @barangayNestlé on TikTok to know more and score the best deals on your favorite Nestlé products.

Puregold CinePanalo’s ‘Tigkiliwi’ joins prestigious Fantasporto 2026 in Portugal

ARA Illenberger’s “Tigkiliwi” (Lopsided), a Puregold CinePanalo creation, scores another milestone for Filipino filmmaking with a prized spot in the Official Competitive Director’s Week of the 46th Porto International Film Festival, known worldwide as Fantasporto 2026. A chilling yet poignant tale, “Tigkiliwi” follows young siblings Lala and Marlin, orphaned and left to navigate the world alone, as they find unexpected refuge with an elderly woman rumored to be an aswang, a shapeshifting creature in Philippine folklore. The film stars Ruby Ruiz, Gabby Padilla, Julian Paul Larroder, and Sunshine Teodoro who deliver performances that have captivated local audiences and are now set to seize the global stage. The film previously won the Jury Prize at the 2025 Puregold CinePanalo Film Festival, becoming the second CinePanalo-backed feature to reach Porto, following the success of “Pushcart Tales.” Primed to take place from February 27 to March 8, 2026, Fantasporto is an international film festival that is celebrated for its high-quality, imaginative cinema, particularly in the realms of fantasy, science fiction, and horror. Offering a platform for films that push boundaries and explore new methods of storytelling, the festival attracts over 110,000 attendees annually and has been lauded by Variety as one of the top 25 film festivals of the world. “Tigkiliwi” Director Tara Illenberger is elated by the achievement and looks forward to the movie being appreciated by a foreign audience. “I’m excited to find out if people will laugh or cry, or respond to it the same way the Filipino audience did. Of course, I am thrilled by the prospect of visiting Portugal for the first time with my Puregold CinePanalo family,” she shares. Puregold Senior Marketing Manager Ivy HayaganPiedad expressed enthusiasm over the selection, stating, “’Tigkiliwi’’s acceptance to Fantasporto has once again proven that Filipino narratives resonate on a global scale. We aim to pave the way for stories of our culture to receive the recognition they deserve. We could not be prouder to see another CinePanalo film represent Filipino cinema with such distinction.” The Official Competitive Director’s Week, where “Tigkiliwi” will compete, is dedicated to feature films, with Fantasporto’s Asian filmmakers-eligible sections also including the Official Fantastic Cinema Section for short films (under 15 minutes) and the Oriental Express Section for features produced by Asian filmmakers. Eligibility for Fantasporto requires that films be produced in 2025, presented as a Portugal premiere, and have English subtitles for non-English dialogue. Puregold CinePanalo, which launched in 2024 to highlight stories of hope and triumph, or mga kuwentong panalo of Filipinos, continues to nurture emerging filmmakers and provide a platform for films that celebrate Filipino creativity. Following its Jury Prize at the 2025 Puregold CinePanalo Film Festival, “Tigkiliwi” now embarks on its international journey, joining the ranks of Philippine films making a mark on the world’s cinematic stage. “Tigkiliwi”’s international recognition builds on

From local acclaim to international recognition, Puregold CinePanalo’s “Tigkiliwi” continues its winning journey abroad. the growing global footprint of Puregold CinePanalo titles, several of which have earned accolades at major film festivals worldwide. Aside from its Fantasporto recognition, Sigrid Bernardo’s Pushcart Tales (2024) was also the Philippines’ official entry for Thailand’s Pattaya Film Festival 2025. JP Habac’s Olsen’s Day (2025) was showcased at the 31st Minsk International Film Festival and the Asian Film Festival Barcelona, while TM Malones’ Salum (2025) garnered a Special Mention win for lead actress Christine Mary Demaisip at the Festival International du Film Transsaharien de Zagora, and selections at the 24th Dhaka International Film Festival and Asian Film Festival Barcelona. Other standout CinePanalo films have also found international audiences. These include Jill Singson Urdaneta’s Co-Love (2025), Mes de Guzman’s Sepak Takraw (2025), and Catsi Catalan’s Fleeting (2025), which were featured at the Asian Film Festival Barcelona under different competitive sections. Sepak Takraw was also featured at the 24th Dhaka International Film Festival. Short films under the CinePanalo banner have also made their mark internationally, with Kent Michael Cadungog’s Text FIND DAD and Send to 2366 (2024) earning official selections at the Up-and-Coming International Film Festival Hannover in Germany; the Gandhara Independent Film Festival in Pakistan; and the Diwa Filipino Film Festival in Seattle. Other Puregold CinePanalo shorts have likewise been recognized abroad, such as Mark Joseph Sanchez’s Our One and Only Bab(oy) (2025), which screened at the 30° Ningbo Short Film Festival in China, and the Jagran Film Festival in India—together with Sean Verdejo’s Dela Cruz, Juan P. (2025) and Clyde Gamale’s Champ Green (2025). Jenievive Adame’s Smokey Journey (2024) was selected for the Student Film Competition of the Port Said Film Festival in Egypt, while Kenneth Flores’ 1… 2… Strike!!! (2025) and Jose Andy Sales’ G! (2025) were both official selections at the Asia Pacific Youth Micro-Movie Festival. Together, these achievements highlight Puregold CinePanalo’s sustained commitment to nurturing Filipino filmmakers and amplifying beautifully made stories on the global stage.

Celebrity Golfer Derek Ramsay Tops 2nd EastWest Golf Invitational Celebrity golfer

EREK Ramsay emerged as the overall champion at the 2nd EastWest Golf Invitational after firing an impressive 8-under-par round at the Mimosa Plus Golf Course – Acacia Course last December 5, 2025, capping a successful day of competition, networking, and client engagement hosted by EastWest Bank. EastWest Bank welcomed more than a hundred clients, partners, and friends to the annual tournament, now a signature event in the bank’s

client engagement calendar. EastWest CEO Jerry Ngo led the welcome remarks, while Senior Vice President and Head of Marketing Martin Reyes spearheaded the ceremonial tee-off, officially opening the tournament. The event gathered business leaders, entrepreneurs, executives, and media partners for a full day of friendly competition and camaraderie at one of the country’s premier golf destinations. Designed to foster meaningful connections beyond

traditional banking interactions, the Invitational provided a relaxed yet premium setting where participants from various industries could engage in genuine conversations. “By creating opportunities to connect, build trust, and enjoy shared experiences, events like this align with how we want EastWest to grow alongside our clients and partners,” said Ngo. “The Golf Invitational lets us meet our clients in a different setting—one that encourages real connections and conversations beyond everyday transactions.” Participants enjoyed 18 holes of tournament play and post-round celebrations highlighted by raffle prizes, special recognitions, and an awards ceremony. The event also underscored the synergy within the Filinvest Group, with Mimosa Plus Golf Course, a Filinvest Development Corporation (FDC) property, providing a world-class backdrop—particularly meaningful as FDC celebrates its 70th anniversary this year. “This annual gathering is a tradition we’re proud to continue,” Ngo added. “It represents the essence of EastWest—personal, warm, and committed to making banking easier and more meaningful for our clients,” said Ngo.

No network shutdown in Iloilo during Dinagyang Festival 2026—Treñas

LOILO City Mayor Raisa S. Treñas has decided that the city will not allow the implementation of signal jamming or any form of network shutdown during the highlights of Dinagyang Festival 2026. The city government, in close coordination with the Iloilo Festivals Foundation, Inc. (IFFI), remains firm in its position to prevent a repeat of past incidents when signal disruptions affected not only Iloilo City, but also neighboring towns and even the island of Guimaras, causing significant inconvenience to Ilonggos and festival goers. This was reaffirmed following a meeting between Treñas and officials of the Police Regional Office 6, led by Regional Director PBGen Josefino Ligan, together with DRDA PBGen Alexander Mariano, DRDO PCol

Roland Bulalacao, and outgoing Iloilo City Police Office Director PCol. Kim P. Legada. The meeting focused on preparations for the upcoming Dinagyang, particularly the security measures to be implemented during the festival’s major events. In lieu of a signal shutdown, the city government has requested the Philippine National Police (PNP) to implement tighter, more coordinated, and highly visible security measures to ensure the safety and well-being of everyone attending the festivities. The PNP, in turn, assured the city government of full force deployment, including the mobilization of force multipliers, to maintain peace and order throughout Iloilo City for the entire duration of Dinagyang Festival 2026

Motoring BusinessMirror

Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame

Editor: Tet Andolong • www.businessmirror.com.ph

Friday, January 16, 2026 B7

ALL-NEW KIA SELTOS

MAKES GLOBAL DEBUT THE all-new Kia Seltos in X-Line, GT-Line, and Standard variants. KIA PHILIPPINES Story by Randy S. Peregrino

IA has recently unveiled the all-new Kia Seltos through a global online presentation. Now in its second generation, this subcompact SUV represents a bold evolution of one of Kia’s key models. The latest Seltos underscores the brand’s design leadership and its commitment to refined practicality and advanced usability for modern lifestyles.

The Protagonist KIA debuted the new Seltos with an online world premiere themed “The Protagonist.” The brand film shown at the launch follows three individuals as they pursue new achievements, freedom, and deeper connections with loved ones. The film reflects how the Seltos empowers drivers to realize their passions and live as protagonists of their own stories. “The Kia Seltos has always represented best-in-class value, and the next-generation model builds on that legacy with an enriched offering that resonates with the diverse passions of our customers. Its expanded global presence and abundant practical and stylish features underline Kia’s commitment to meeting diverse mobility needs worldwide,” said Ho Sung Song, president and CEO of Kia Corporation.

Bold and progressive THE redesigned Seltos, shaped by Kia’s “Opposites United” design philosophy, reflects the Relentless Innovator. It fuses SUV strength with modern refinement. Its wider stance, sharp surfaces, and defined forms convey capability and confidence from all angles. Dimensions-wise, the Seltos measures 4,430 mm in length, 1,830 mm in

width, and 1,600 mm in height, with a wheelbase of 2,690 mm. At the front, it features a wider grille with Kia’s star map lighting signature, which includes a dynamic welcome light sequence that illuminates upon approach or start. The Seltos also introduces flush door handles that improve aerodynamic efficiency and provide a modern look. Along the sides, the vehicle displays diagonal character lines, a floating roofline, and prominent shoulder contours for enhanced stability and style. The exterior is accented with contrasting cladding and satin silver tones, combining durability with a refined appearance. At the rear, vertical tail lamps stretch across the tailgate. The XLine features dark gun metal finishes and reinforced lower garnishes for ruggedness. The GT-Line offers a sportier look with sleek body-colored accents. At the premiere, Kia unveiled three standout colors: Iceberg Green, Gravity Gray, and matte Magma Red.

materials, conveys both modernity and comfort throughout the interior. Complementing these improvements, the Seltos offers a wide panoramic sunroof, customizable 64-color mood lighting, and second-row reclining seats adjustable by a total of 24 degrees (12 degrees forward and backward). Premium Harman Kardon and Bose audio systems, along with the Kia Connect Store, further enhance digital personalization and entertainment options, including collaborations with Disney and the NBA. Practicality is further emphasized by the Seltos’ class-leading luggage capacity of 536 liters (VDA) and f lexible storage configurations, including a foldable dual-level cargo board. Kia’s AddGear accessory system lets customers attach modular storage accessories to neatly orga-

nize everyday essentials, supporting both daily life and weekend adventures.

Driving performance and powertrain BUILT on Kia’s latest K3 platform, the Seltos incorporates structural improvements to increase body rigidity and enhance noise insulation. A well-tuned chassis balances stability and smooth handling, with optimized suspension and steering systems providing responsive road control in various driving conditions. The Seltos offers a range of petrol engines. The 1.6-liter T-GDI turbocharged engine generates 177 hp and 265 N-m of torque, paired with either a seven-speed dual-clutch transmission (DCT) or a six-speed manual transmission (MT). Another version of

the 1.6-liter T-GDI delivers up to 190 hp and 265 N-m of torque, matched with an eight-speed automatic transmission (AT). There is also a 2.0-liter naturally aspirated petrol engine producing 146 hp and 179 N-m of torque, developed for improved fuel efficiency and daily driving ease. Looking ahead, Kia announced a hybrid variant will join the lineup in 2026. This model will add Vehicle-toLoad (V2L) functionality for powering external devices and introduce Kia’s Smart Regenerative Braking System 3.0. This system automatically adjusts regenerative braking based on traffic flow and navigation data to optimize energy recovery. The Seltos is available with an optional all-wheel-drive (AWD) system that uses a multi-link rear suspension for better ride quality and traction.

Modern, connected, and intelligent KIA highlights that improved cabin space and smarter convenience features make daily driving effortless and enjoyable. The interior has been reimagined for modern mobility, whether commuting, traveling with family, or exploring outside the city limits. The low, horizontal dashboard enhances forward visibility and creates a sense of openness, while optimized packaging ensures generous headroom and legroom for all passengers. The adoption of a column-type Shift-by-Wire (SBW) system frees up the center console, enhancing functionality and contributing to a more open cabin environment. An uncluttered layout, paired with premium

Terrain Mode offers selectable drive modes for Snow, Mud, and Sand to adapt vehicle dynamics. Drive Mode Select allows drivers to switch between Eco, Normal, and Sport settings, adjusting engine and transmission response for varying road conditions.

Technology, safety, and convenience in harmony THE all-new Seltos prioritizes safety through advanced structural engineering and a comprehensive suite of driver-assistance technologies. Extensive use of ultra-high-strength and hot-stamped steel enhances body rigidity and occupant protection. This comprehensive suite of advanced driver-assistance systems includes Highway Driving Assist 2 (HDA 2), Lane Following Assist 2 (LFA 2), Forward Collision-Avoidance Assist 2 (FCA 2), Safe Exit Warning (SEW), Surround View Monitor (SVM), Parking Collision-Avoidance Assist-Reverse (PCA-R), and Parking Distance Warning-Front/Side/Reverse (PDW-F/S/R). Technology is at the forefront. The Head-Up Display (HUD) projects key driving information onto the windshield, improving awareness and safety. The Seltos features a panoramic display with two 12.3-inch screens and a dedicated climate panel. It also offers an AI Assistant for natural conversation, over-the-air updates to keep systems current, and Digital Key 2 for secure smartphone-based vehicle access and sharing.

Global rollout GLOBAL production of the new Seltos began in December 2025 in India. Launches in Korea, North America, Europe, and China will follow throughout 2026.

THE entirely redesigned interior layout (Standard variant). KIA PHILIPPINES

Toyota, Mitsubishi absorb gov’t-inflicted blow explanation? Car officials had been left in the dark to begin with.

Best-sellers

HERE was no clear-cut reason on why the manufacturing/financial subsidies for Toyota and Mitsubishi were recently removed from the national government budget. While the introduction of the budget package some years back to spur manufacturing thrusts had immensely helped boost automotive expansion and production, I find no logic in the government’s move to suddenly scrap the incentives. Doesn’t the government owe us an

RECALL that the government—the previous one, that is—had pledged financial help to the development/manufacture of Toyota’s Innova and Vios models and Mitsubishi’s Mirage brand. That was by way of recognizing the muchcorpuscled manufacturing offensives of both car companies to vehicle development in the country. It’s no secret that the three models have been best-sellers in their respective segments for the longest time and are recognized not only locally but region-wide as well for their being sterling examples of quality production, with their staying power, durability and reliability as their lasting hallmarks. Why their well-touted incentives had been

suddenly and unceremoniously scrapped is definitely mind-boggling, as it borders on a haphazard decision very uncharacteristic of an administration not known to waylay rationale thinking.

Major blow

JUST when the motoring industry has been gaining major strides amid a rapidly growing milieu, the move was a major blow of monumental proportion as its impact could trigger a domino effect on platform progression. It was not just a stunner, it was a shocker almost resembling that of the magnitude of the recent billion-peso mess spawned by the flood control project brouhaha. Smarting from the blow that would somehow push back thrusts to continue energizing the mobility sector if mishandled altogether, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI)

issued a statement on the matter, describing the government move as “raising serious concerns on funding and financial incentive commitments.” Amid the conundrum, Jose Maria “Jing” Atienza, the newly-minted CAMPI president, has issued the following statement:

Importance of collaboration

“THE Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) believes in the importance of collaboration between Government and Industry in securing the future viability of the Philippine Auto Manufacturing sector. “Such is crucial in creating a positive environment for future investments and help develop a more robust local Auto Parts Manufacturing Industry. “Recent developments have raised serious concerns on the funding for the financial incentive commitments granted under the

Comprehensive Automotive Resurgence Strategy (CARS) Program. “The participants should be able to receive their incentives based on their actual performance that already generated economic benefits. “Meanwhile, the Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) Program is an important transition to future industry development programs and should be implemented soon. “Both CARS and RACE are fundamental programs that contribute to the overall industrial development of the country. We fully trust and support efforts of key government agencies in urgently resolving these important matters.”

Refined character

I RAISE a glass to Jing Atienza, both the executive vice president of Toyota Motor

Philippines and at the helm of Toyota Tech Academy in Sta. Rosa City, Laguna, for his extremely sober way of treating the matter. Jing’s subtle way of expressing his disappointment over an obvious fractious mobility issue is indicative of his famed refined character when pushed to a corner. His gentlemanly demeanor will continue to do wonders for the Industry. Indeed, with Jing at the saddle, CAMPI is in good hands.

PEE STOP Recent movements put Jade

Sison-Mendoza back at Toyota Motor Philippines (TMP) as TMP’s chief publicist, replacing Elvin Luciano. Elvin the Big E is now vice president for government and industry affairs from TMP’s corporate affairs group. …Raymond T. Rodriguez, the former president of Lexus Manila (LM), is now LM advisor after yielding the LM presidency to Carlo Ablaza. Cheers, guys!

Sports BusinessMirror

Friday, January 16, 2026

mirror_sports@yahoo.com.ph | Editor: Jun Lomibao

Coach Leo: Game 6 won’t be that easy S By Josef Ramos

AN MIGUEL Beer goes for the clincher in Game 6 of its semifinals series against Barangay Ginebra San Miguel in the Philippine Basketball Association Season 50 Philippine Cup on Friday. But it won’t be that easy, according to head coach Leo Austria. “We know what Ginebra is capable of coming back, so hopefully tonight [Friday], we close the series,” Austria told the BusinessMirror on the eve of their 7:30 p.m. match at the Smart Araneta Coliseum “We know it is not going to be easy and a lot of guys must step up like last time,” added Austria, referring to their 115-109 escape in Game 5 where Scottie Thomspon was all over, gasping and panting but delivering for the Gin Kings. Austria said that Thompson’s leadership is extremely valuable but stopping the him alone won’t give them the win that would send them to the Finals against TNT Tropang 5G. The Tropang 5G foiled a head-abovewater Meralco, 99-96, on Wednesday night to end their series at 4-1. Jordan Heading had 31 points and Rey Nambatac contributed 25 points for TNT, which earned the franchise a 26th championship appearance—and fourth straight in the Philippine Cup. “You really need to check them all, not

just Scottie [Thompson],” Austria said. “We know Scottie is a talented player who can create situations for them, but beating Ginebra requires a lot of effort defending all the other players on the court.” After limiting to just nine points in Game 4, June Mar Fajardo showed why he is a nine-time Most Valuable Player by scattering 21 points and 11 rebounds in Game 5 with four other Beermen finishing in double digits. Swingman CJ Perez tallied 20 points and Moala Tautuaa added 18 points and nine rebounds, while Marcio Lassiter fired 16 points and Don Trollano churned up with 13 points for the Beermen. Chris Ross only had nine points but made eight assists and three steals—all decisive. “We know Ginebra is not just going lie lay down on Friday,” Ross said. “The venue will be rocking with their huge crowd so we must play our best.” “I’m playing my heart out like this is my last,” he added. Ginebra’s Tim Cone, on the other hand, is keeping his composure despite having their backs against the wall and for the winningest coach in the league, it’s a case of been there, done that and doing this. “Basically, we are in the same situation where we were in last conference…except that it’s flipped,” he said. “We were up 3-2 and now they’re up 3-2. They beat us back-toback games so let’s see if we can flip the script and see if we can beat them two in a row.” Ginebra was in a similar situation in the same conference last season but forced a winner-take-all Game 7 on then team captain LA Tenorio’s three-pointer—but they lost Game 7, 100-93. “We cannot be in a Game 7 winner-take-all if we don’t care about Game 6 and that’s our focus,” Cone told PBA News. “We made crucial turnovers all throughout (Game 6) that we could have made runs, it just wasn’t our night. We were fumbling the ball. Ball wasn’t going in for us.” After finishing with 35 points, 11 rebounds and 11 assists performance in Game 4 which Ginebra won, 105-91, the 2021 MVP had 20 points, seven rebounds and seven assists in Game 5 with RJ Abarrientos, Stephen Holt and Japeth Aguilar posting 18, 17 and 16 points, respectively.

COCO GAUFF and Venus Williams could meet in the second round, more than six years after they first played each other in a major. Gauff was 15 when she beat seven-time major winner Venus Williams in the first round at Wimbledon in 2019 in her Grand Slam debut. Now she’s the No. 3 seed and a two-time major winner. The 45-year-old Williams has a wild-card entry for the Australian Open, where she’s playing for the first time in five years. Williams is set to become the oldest woman to compete in an Australian Open main draw, surpassing the record previously held by Japan’s Kimiko Date, who was 44 when she lost in the first round at Melbourne Park in 2015. The draw for the year’s first major was held Thursday at Melbourne Park. The tournament starts Sunday. Gauff will open against No. 91-ranked Kamilla Rakhimova. No. 576-ranked Williams, who made her Australian Open debut in 1998 and has twice reached the final, will open against No. 68-ranked Olga Danilovic.

Early test for Sabalenka

ARYNA SABALENKA has a potential third-round meeting against 2021 US Open winner Emma Raducanu. Defending champion Madison Keys was drawn into the same quarter as No. 6 Jessica Pegula, and No. 4 Amanda Anisimova. No. 2-ranked Iga Świątek is in the bottom quarter on that side of the draw and has a potential fourth-round match against Naomi Osaka. Jannik Sinner and Novak Djokovic landed in the same half of the draw, setting up a potential semifinal between the defending champion and the 23-time major winner. Top-ranked Carlos Alcaraz is on the opposite side of the draw to Sinner and Djokovic.

Stephens in main draw

SAN MIGUEL Beer head coach Leo Austria and nine-time Most Valuable Player June Mar Fajardo—in action against Japeth Aguilar in Game 5—goes for the Finals clincher but they know Ginebra would definitely fight back for survival. PBA IMAGES

earlier in the 50th Season opener. “To have the PBA Finals MVP trophy bear my name, especially in this 50th year, the Golden Anniversary of the Philippine Basketball Association, is something I never imagined yet will forever treasure,” Fernandez said. “This is more than a personal recognition. It is a reminder of a lifetime shaped by the league that gave me purpose, pride and a second family.” “The PBA was my battlefield, my classroom and my home. It was where I learned discipline, sacrifice, resilience, teamwork, humility and the meaning of

leadership under pressure,” he said. “Every championship fought for, every Finals series endured, every cheer and every criticism...all of it molded the player and the man I became. I owe so much of who I am today to this league,” he added. The first four-time Most Valuable Player won nine titles with the fabled Toyota franchise before adding three more for Tanduay and seven for San Miguel Beer, highlighted by a historic Grand Slam in 1989. Fernandez is also the league’s all-time leading scorer with 18,996 points, a record that may stand the test of time.

Brooke moves to Chameleons’ camp

HREE-TIME Most Valuable Player Brooke Van Sickle chose familiarity over uncertainty after Petro Gazz took a leave of absence and decided to join her former Angels teammates at Nxled for the 2026 Premier Volleyball League season, the team announced Thursday. The Chameleons are also welcoming twotime MVP Myla Pablo, two-time Finals MVP MJ Phillips and promising young setter Jules Tolentino who are all set to reunite with their former Nxled teammates in their new home. All four players played pivotal roles in the Angels’ recent triumph in the season-ending Reinforced Conference, guiding fifth-seeded Petro Gazz to its third championship in the same conference and fourth overall in the league.

LEXANDRA EALA begins her Australian Open bid against Alycia Parks of the US on Sunday in Melbourne. The world No. 49, who came up with a fine start to the season with a semifinal finish in the Auckland Open in New Zealand, is making her debut in the main draw of the Grand Slam of Asia Pacific. World-ranked 110th, the 25-year-old Parks had a previous high ranking of 40th in 2023. Parks reached the third round at Melbourne Park in 2024 and is off to a tough start to the season, exiting the Auckland Open at the round of 32 as she bowed to Elisabetta Cocciaretto of Italy in straight sets. Before the first major of the season, Eala saw action in the exhibition event Kooyong Classic where she logged a repeat win over Paris Olympics silver medalist Donna Vekic of Croatia. Eala is in the top half of the draw with No. 1 Aryna Sabalenka of Belarus, who takes on wild card Tiantsoa Rakotomanga Rajaonah of France. If the 20-year-old Eala gets past the Round of 128, she faces either 19th seed Karolina Muchova of Czechia or Jaqueline Cristian of Romania. Also in the same half of the draw is third seed Coco Gauff, who is on course for an early showdown with Venus Williams.

American stars collide

Press corps to present Finals MVP Ramon Fernandez Trophy HE Philippine Basketball Association Press Corps (PBAPC) announced on Thursday the introduction of the Ramon Fernandez Trophy that will be handed out to the winner of the Finals Most Valuable Player. Starting with the PBA’s 50th Season Philippine Cup Finals, the press corps will present a trophy named in honor of Fernandez for his remarkable contributions that included a record 19 championships, the most by any player. Fernandez gave his blessing in a meeting with PBAPC president Vladimir Eduarte of Abante/Tonite and the group’s other officers

Eala debuts against lower-ranked Parks in Aussie Open debut

Now, they aim to recreate that same magic as they help Nxled pursue its first breakthrough in the league. Other former Petro Gazz players who are now Chameleons are Jonah Sabete, Djanel Cheng, Bang Pineda, Ranya Musa, AA Adolfo and Jellie Tempiatura. Nxled also signed veteran middle blocker Aby Maraño and setter Joyme Cagande from Chery Tiggo, along with middle blocker Aduke Ogunsanya from Choco Mucho—bringing their total number of new recruits to 14. They will join an Nxled core that includes Lyann de Guzman, Chiara Permentilla, Krich Macaslang, Lucille Almonte, Jovelyn Fernandez, EJ Laure, and Mayang Nuique, among others.

SLOANE STEPHENS has qualified for the Australian Open, her first major tournament since a first-round loss to topranked Aryna Sabalenka at Melbourne Park a year ago. The 2017 US Open champion entered the qualifying rounds for the season’s first Grand Slam event with a ranking of No. 1,097 after a long stretch recovering from a left foot injury. She has put together three straight wins in qualifying at Melbourne Park, beating Lucia Bronzetti of Italy 6-1, 7-5 in the third round on Thursday to secure her place in the main draw. The 32-year-old American reached a career-high ranking of No. 3. With AP

“With those 19 championships, who knows how many Finals MVP awards Fernandez could’ve won if such recognition had already been handed out during his time,” Eduarte said. “The Finals MVP trophy in Fernandez’s name is a well-deserved recognition the PBA Press Corps unanimously decided on.” The introduction of the Ramon Fernandez Trophy also comes as the Press Corps will mark 30 years since awarding its first Finals MVP, which was Jojo Lastimosa for Alaska in the 1996 All-Filipino Cup, two years after Fernandez played his 20th and last season as a pro with San Miguel. A plaque had been given out to each of the previous Finals MVP winners, whio are determined through votes by Press Corps members actively covering the PBA beat.

ALEXANDRA EALA takes on a lower ranked opponent in her debut Down Under. AP

Madis, 18, a happy wild card

AS a three-time Most Valuable Player, Brooke Van Sickle will always be a prized catch. PVL IMAGES

ENNIELLE MADIS is willing to grow and learn about her sport as she vies in the Women Tennis Association (WTA) 125 Philippine Women’s Open set from January 26 to 31 at the new-look Rizal Memorial Tennis Center in Manila. “No pressure at all, I just want to learn and grow in my tennis career competing with the world’s best players,” the 18-year-old from North Cotabato told the BusinessMirror on Thursday. “Experience is what I need.” “God’s will, I hope to play more in the WTA 125 and more overseas competitions and my team is working so hard so far in training to be in top shape,”

MADIS

she said. “I will just do my best to win every match.” Madis earned a wild card entry to the tournament after emerging as the local top seed following her victory in the Philippine Columbian Association Open last year. She also earned a women’s doubles bronze medal with Steffi Aludo in the 33rd Southeast Asian Games in Bangkok last month. Madis ranked No. 196 in the International Tennis Federation. World No. 49 Alex Eala, No. 87 Moyuka Uchijima of Japan, No. 85 Lulu Sun of New Zealand, No. 42 Tatjana Maria of Germany, No. 43 Wang Xinyu of China and No. 64 Solana Sierra of Argentina are expected to see action in the tournament. Josef Ramos