BusinessMirror January 19, 2026

IBy Andrea E. San Juan

NEFFICIENCY in collecting revenues, lack of budget transparency and excessive borrowing may be the culprit behind the government’s failure to hit growth targets for three consecutive years, according to economists.

When asked which economic policies could have been hampering the growth of Philippine economy in recent years, particularly since 2023, De La Salle University economist Maria Ella Oplas told the BusinessMirror : “Fiscal policy. It’s about revenue and expenditure. We may have all sorts of revenue-generating policies in place yet the question is..is the

By Reine Juvierre S. Alberto

percent, according to data from the Bangko Sentral ng Pilipinas (BSP).

Latest BSP data showed the gross non-performing loans (NPLs) went up by 4.68 percent from P520.476 billion a year earlier and were 1.45 percent higher than the P537.027 billion recorded as of end-October 2025.

The current gross NPL is equivalent to a ratio of 3.32 percent as of end-November 2025, down from the 3.54 percent ratio logged a year ago and slightly lower than the 3.33 percent recorded at endOctober 2025.

Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co., the easing of the NPL ratio reflects that banks are managing credit risks well despite a still-fragile environment.

“Borrowers are keeping up with payments, underwriting has tightened, and the improvement gives banks more room

government effective in collecting revenues?”

Oplas told this newspaper that being forced to borrow money is a cycle that the Philippine economy cannot seemingly escape from.

“Budgeting is another thing... which is the whole brouhaha right now. Legislators are not transparent in terms of allocation of resources that’s why we have allocables and insertion problems right now,” she said.

“I am okay with the concept of ‘Build, Build, Build’ and the ‘Build, Better More’ programs but after hearing about the flood control projects, that says a lot about the quality of expenditure that we have.

“Since our revenue is less than

our expenditure, we are forced to borrow. It’s a cycle that we seemingly cannot escape. It’s poor governance. That’s why fiscal policy is the problem. We may be able to manage inflation but that’s because BSP [Bangko Sentral ng Pilipinas] is doing something about money supply,” added Oplas.

A recent story published by the BusinessMirror noted that the Philippines will face a prolonged fiscal drag, potentially lasting for two to four years, as tighter scrutiny over public infrastructure spending slows budget execution.

As such, HSBC Asean Economist Aris D. Dacanay said the government will have a “difficult time” spending this year’s P6.793-tril-

lion national budget due to ongoing institutional reforms and heightened oversight of public expenditures.

“It will be a tall order to meet targets. And because of that, there is more uncertainty in growth, and that uncertainty will likely lead to a higher saving rate,” Dacanay said. (See: https://businessmirror.com.ph/2026/01/13/phlfaces-prolonged-fiscal-drag-onslower-infra-spend/).

For his part, former Socioeconomic Planning Secretary Dante B. Canlas told this paper that the national government must exhibit “credible reforms” in governance and in budget management.

By Ma. Stella F. Arnaldo

businesses through clear and consistent guidelines.

In a Viber message, Tourism Secretary Christina Garcia Frasco told the BusinessMirror that she had met recently with Finance Secretary Frederick D. Go, where she “raised the concerns that have been conveyed to me by tourism stakeholders, in-

cluding hotel associations, tour operators, and travel agencies, because these directly affect the sustainability of tourism businesses, especially small and medium enterprises.”

She added, “Among the issues brought up were the taxation of tour operators based on the full tour package value rather than only their actual service fee, the alleged inconsistent interpretation of tax rules across Revenue District Offices due to the absence of tourism-specific guidelines, and the lack of clear documentation requirements

LOCAL auto parts makers are calling on the government to put in place an “integrated pathway” to reforms that would support car manufacturing, including the supply chain for electric mobility.

The Philippine Parts Makers Association (PPMA) said it is committed to engaging in constructive dialogue with government, car manufacturers, and stakeholders to ensure that CARS, RACE, and EVIS “work together as an integrated pathway toward a stronger, more competitive, and future ready” Philippine automotive industry.

For one, PPMA President Ferdinand Raquelsantos voiced out the industry’s “strong hope that the Revitalizing the Automotive Industry for Competitiveness En-

hancement [RACE] program will be implemented as soon as possible.”

“We underscore that only P125 million is needed to initiate and operationalize RACE, an amount that can unlock significant benefits for the broader industry, especially for local automotive parts manufacturers who are key contributors to inclusive industrial growth,” Raquelsantos said in a statement over the weekend.

The industry group of local auto parts makers believes RACE is the “natural complement” to the Comprehensive Automotive Resurgence Strategy (CARS) program, saying it “strengthens” the domestic supply chain by supporting investments in tooling, technology upgrades, quality and safety certifications, productivity improvements and lo -

cal content expansion.

The RACE program has been due for implementation in 2025.

(See: https://businessmirror. com.ph/2025/02/19/new-perksplan-for-car-makers-out-soon/).

Further, Raquelsantos noted that these programs are “critical interventions” that enable more Filipino parts makers to participate meaningfully in local vehicle production and compete within the Asean region.

The PPMA chief issued the statement following the government’s announcement that it has finalized a funding solution for the CARS program.

“We recognize this as an important step in sustaining investor confidence and reaffirming the government’s commitment to revitalizing domestic automotive man-

ufacturing,” he said. He noted that the P4.32 billion allocation for CARS is “vital” in supporting the continued operations and production plans of the program’s participants, including vehicle manufacturers and the local supplier base that supports them. This “resolution,” he added, strengthens policy stability, protects jobs, and helps preserve the manufacturing ecosystem that the Philippines has worked hard to build over the years. Another concerned industry group said in a separate statement that securing funding for CARS program despite earlier budget vetoes is a “vital step” toward rebuilding investor confidence and honoring commitments to manufacturers.

“Automotive manufacturing is about more than vehicles—it drives jobs, technology transfer, and the growth of our local parts industry,” Federation of Philippine Industries Inc. (FPI) Chairperson Elizabeth H. Lee said.

She also said policy consistency is the “true cornerstone” of competitiveness.

“We call on government agencies to turn bold pronouncements into timely, transparent action,” FPI added.

Lee said it is only by “sustaining industrial programs with credibility” that the Philippines can position itself as a “trusted destination” for long-term manufacturing investments.

Alongside the implementation of RACE program, Raquelsantos explained the importance of the upcoming Electric Vehicle Incentive Strategy (EVIS) program, where local parts manufacturers will also play a “major role” in building the supply chain for electric mobility.

“EVs require a wide range of components that Philippine manufacturers can supply, including wiring harnesses, stamped and structural parts, body components, electronics housings, thermal systems, and eventually power electronics and battery-related components,” the group noted.

As such, PPMA said strengthening the local parts sector today through programs like RACE will ensure that the Philippines is ready to capture these EV opportunities as EVIS accelerates industry transformation.

Andrea E. San Juan

to support lending as the economy regains momentum,” Ravelas said. “It’s a good sign—like the system’s pulse rate heading in the right direction—but it still needs close monitoring, especially with still elevated interest rates and softer global growth in the background,” he addded. NPLs, also known as “bad” or “soured” loans, are credit accommodations that have not been paid for 90 days or more after the due date.

A lower NPL ratio is indicative of a bank that is less susceptible to loan quality erosion as its loan assets are healthy, with only a small percentage of bad loans.

Broken down, the NPL ratio of universal and commercial banks settled at 3.04 percent, amounting to P459.637 billion, as of endNovember 2025. This was slightly lower than the 3.05 percent recorded at end-October 2025 and down from 3.24 percent a year earlier.

For thrift or savings banks, the NPL ratio edged up to 6.21 percent, or P62.49 billion, as of end-November 2025 from 6.15

percent at end-October 2025, but remained below the 6.85 percent level a year earlier.

Digital banks also posted an improvement in asset quality, with their NPL ratio easing to 6.53 percent, or P4.29 billion, as of end-November 2025 from 6.77 percent at end-October 2025 and 10.22 percent a year earlier.

The latest available data for rural and cooperative banks were for September 2025, when their NPL ratio stood at 8.89 percent, equivalent to P18.45 billion.

Meanwhile, past due loans (PDLs) reached P695.981 billion as of end-November 2025, up by 1.18

clearly, consistently, and in a way that supports jobs, investments, and long-term industry growth,” she said.

percent from P687.835 billion a month ago and higher by 9.52 percent from P635.477 billion a year ago.

The PDL ratio settled at 4.24 percent of banks’ total loan portfolio, lower than the 4.27 percent as of end-October 2025 and last year’s 4.32 percent.

The gross total loan portfolio (TLP) of the Philippine banking sector reached P16.410 trillion as of end-November 2025.

BSP data showed that the TLP rose by 1.90 percent from P16.103 trillion at end-October 2025 and was up by 11.48 percent from P14.719 trillion a year earlier.

for transactions involving IATA [International Air Transport Association] that would qualify as legitimate expenses on the local travel agencies and tour operators.”

Frasco stressed that, “I relayed these concerns to Secretary Go for discussion with the BIR [Bureau Internal Revenue] as part of our ongoing coordination within government, so we can ensure that tax policies are clear, fair, and supportive of both fiscal responsibility and tourism sector growth.”

Earlier, the DOT chief shared that she had raised to Go stakeholders’ concerns on BIR Revenue Memorandum Circular (RMC) No. 5-2024, which spells out the definition of “cross-border transactions,” and its impact on the industry, specifically

online travel agents, effectively raising the cost of foreign tourists to visit the Philippines. (See, “BIR’s tax rule raises cost of PHL tourism for visitors,” in the BusinessMirror, Jan. 13, 2026)

According to report by Ken Research, the online travel booking sector in the Philippines is projected to reach P50 billion by 2030, from P13 billion in 2024. Among the major global booking platforms that bring foreign nationals to the Philippines include: Booking.com, Expedia, Airbnb, TripAdvisor, and Skyscanner. “Tourism is powered largely by small and medium businesses that are still in recovery,” the DOT Secretary noted. “It is vital to ensure that their realities are heard at the policy level, so that tax measures are applied

At a press briefing on January 16 on government’s “big, bold reforms” to push the country’s economic growth, Go, however, only announced visa-free entry for mainland Chinese tourists as a measure to boost the tourism sector. The DOT has estimated that some 90 percent of tourism and travel-related businesses. are composed of micro, small, and medium scale enterprises. The industry employed 6.75 million individuals in 2024, according to Philippine Statistics Authority.

The Philippines has been trying to play catchup to its neighbors in Southeast Asia, which have been recording double-digit millions in visitor arrivals. From January to November 2025, the Philippines received 5.24 million foreign tourists, a 2.16 percent drop from the same period in 2024. The DOT is targeting arrivals in 2026 to reach 6.7 million, still 19.3 percent less than the 8.3-million historic high reached in 2019, prior to the pandemic. The latter forced countries to shut down their borders to inbound tourism, but UN Tourism reported that global travel has since recovered to prepandemic levels in 2024 with 1.4 billion international tourist arrivals.

Canlas made this call after he said that external factors such as the Trump tariffs, alongside the flood control scandal, contributed to the slowdown of real GDP.

“External factors played a big role in the real GDP slowdown, particularly Trump’s tariffs. These tariffs have hindered the growth of semiconductors and electronics, the country’s top manufactured exports,” he said.

“Political factors, especially. The flood control project scandal deter the growth of foreign direct investments,” he added.

After the Philippine Statistics Authority (PSA) announced that the economy grew by 4 percent in the third quarter, which would bring average 2025 growth to 5 percent, De-

partment of Economy, Planning, and Development (DEPDev) Secretary Arsenio M. Balisacan said this could mean that the lower end of the government’s 5.5 to 6.5 percent target range may now be out of reach.

“It’s very challenging to meet already the lower range or 5.5 percent because that would mean that fourth quarter would have to grow at 6.9 percent or something around that,” Balisacan said. He pointed to the “abrupt decline” in public construction as one of the factors that slowed economic growth in the third quarter last year. He said this is due to the stricter validation measures for DPWH’s civil works, as well as the implementation of more stringent requirements which delayed billings and disbursements for government projects.

Given this scenario, this would mean that the Philippine economy has been failing to meet the government’s growth goals since 2023.

Funds under the Special Purpose Funds.

“The call for transparency fell into deaf ears as P5.25 billion has been allocated for confidential funds across various agencies, including P2.25 billion for the Office of the President,” said Raquiza. For FDC, one of the “most concerning findings” is that 43 percent (P138 billion) of the identified pork is classified as “Trapo Pork”—public funds used for cash transfers (ayuda) that are accessed through the intermediation of politicians.

These are the P51.6-billion for Medical Assistance to Indigent Patients (MAIFIP) of the Department of Health; the P63.9-billion assistance to Individuals in Crisis Situations (AICS) of the Department of Social Welfare and Development and the P22-billion Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (TUPAD) under the Department of Labor and Employment (DOLE).

Although social protection is a right, Raquiza said these funds are often treated by lawmakers as “gifts” from their own pockets, deepening a culture of dependency and patronage. She also assailed the 2026 budget for being “anti-developmental” due to the de-prioritization of industrial policy. Essential programs like the Comprehensive

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and attracted significantly oversubscribed bids.

Under GEA-3, the DOE locked in 6,680 MW of 12 committed power projects, with the delivery periods scheduled between 2025 and 2035. These include 6,350 MW of PSH, 300 MW of impounding hydro, and 30.887 MW of geothermal. The DOE said this auction was part of a broader strategy to encourage market-driven investments and efforts to diversify the country’s energy mix to achieve the target of 35 percent RE share in the power generation mix by 2030.

PSH is a large-scale energy storage system that acts like a giant battery, using excess electricity to pump water uphill to a reservoir, then releasing it through turbines to generate power when demand is high.

“The good thing about pumped storage is that we need it to have it in our renewable energy. It’s like battery. That’s really something that DOE should be proud of,” added Garin.

GEA-3 had an initial target of 4,650 MW of capacity but there was “overwhelming interest” in PSH.

GEA-4 attracted 10,195 MW of committed capacity for groundmounted solar, roof-mounted solar, floating solar, onshore wind and integrated solar with energy storage system (IRESS) capacities. The awarded projects are committed for delivery between 2026 and 2029. The GEA program aims to build up renewables as a primary source of energy. The supply contract for winning RE projects will run for 20 years from the start of commercial operations. The successful GEA 3 and 4 are critical drivers in scaling up renewable energy in the country, with the potential to unlock over six gigawatts of pumped hydro capacity and over 10 gigawatts of solar and wind projects. The DOE has kicked-off the bidding process for GEA-5, aiming to secure 3,300MW of OSW capacity.

“This is the first auction for offshore wind. It won’t be the cheapest but like solar, it didn’t start cheap. We will become pioneers of offshore wind in Southeast Asia. I think we will also be successful,” added Garin. The country has so far recorded over 10,000MW of on-grid renewables capacity, or about 32.6 percent of overall power supply. Under the Philippine Energy Plan, the government aims to expand the share of renewables in the power mix to 35 percent by 2030 and 50 percent by 2040.

Automotive Resurgence Strategy (CARS) Program (P4.32 billion) and the Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) Program (P250 million) were moved to Unprogrammed Appropriations (UA), making their funding conditional and uncertain, before ultimately being vetoed by the President.

A ‘performative’ process RAQUIZA described the budgetmaking process as “generally performative and insincere.”

“While there were attempts at transparency, such as livestreaming the Bicameral Conference, the process was marred by non-transparent side meetings and ‘lastminute adjustments’ introduced outside public view,” she said.

Despite the livestreaming, Raquiza said there were “numerous non-transparent side meetings and huddles,” suspension of proceedings up to 2 to 3 hours, and major last-minute adjustments were introduced outside public scrutiny undermining the vaunted transparency and accountability of the bicam process.

Ultimately, she said the 2026 budget is seen as a missed opportunity to address the genuine needs of Filipinos, instead favoring a system that reinforces political patronage and lacks true accountability.

“While we recognize attempts to make the budget-making process more transparent, these efforts were largely performative,” Raquiza said. Rizal Raoul S.Reyes

“GEA is one of our biggest winners. We are trying to finish more innovative GEA like offshore wind and wasteto-energy. In the renewable space, we are very progressive. We have accomplished so much,” Garin said. Aside from OSW, and WTE upcoming auctions, another source of pride for the DOE is native hydrogen. The Philippine government awarded “historic firsts” for the DOE—the world’s first competitive bid round for native hydrogen. “We are the first in the world to actually do a public bidding for native hydrogen. We have two contracts awarded already,” Garin said.

“So, we have a lot of innovations for this year such as offshore wind, wasteto-energy, native hydrogen, solar panels on top of low-cost housing, hybrid agro-solar and battery storage system, and the biggest solar with battery in the world. I think that’s because the policies of DOE encourage innovation. People are starting to think outside the box and we are creating more policies that would encourage more investors to come in.”

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such as skills development and social protection, are better suited to addressing in-work poverty,” it added. Several bills seeking a legislated nationwide wage hike are now pending in the 20th Congress, including proposals filed by Senators Bam Aquino and Risa Hontiveros. In the previous Congress, both chambers pushed separate measures to raise the minimum wage but failed to pass a unified version.

Ghost projects likened to failure to fulfill tasks under government-granted privileges

By Jovee Marie N. dela Cruz @joveemarie

ALEADER of the House of Representatives said allegations surrounding franchise and contract issues involving a renewable energy company linked to Batangas Rep. Leandro Leviste should be examined on their merits and not reduced to partisan debate, stressing that accountability must remain paramount.

Lanao del Sur Rep. Zia Alonto Adiong, a member of the House Committee on Energy, said that if claims are substantiated, they could amount to a “ghost project,” particularly if government-granted privileges were secured but corresponding obligations were later abandoned.

“For me, if you sold it just to escape your obligations, how is that any different from ghost projects— where you have obligations to fulfill but you simply walk away from them? There’s no difference,” said Adiong in a news forum on Saturday. Adiong emphasized that his remarks were based on publicly reported allegations and underscored that the issue ultimately depends on verification, due process, and the establishment of facts.

Customs seizes parcel containing illegal drugs

By Reine Juvierre S. Alberto

D@reine_alberto

RIED marijuana and vape cartridges containing cannabis oil were seized in Pasay City on Friday, the Bureau of Customs (BOC) said.

In a statement on Sunday, the BOC said it intercepted an inbound parcel carrying the illegal drugs on January 16.

The BOC-Ninoy Aquino International Airport (BOC-Naia) flagged the parcel after it exhibited suspicious indicators despite being declared as “accessories and candies.”

A physical examination revealed about 320 grams of dried marijuana or kush with an estimated street value of P480,000.

Also found inside the parcel were eight vape cartridges containing cannabis oil estimated to be worth around P400, according to the BOC.

The seized illegal drugs and the claimant were immediately turned over to the Philippine Drug Enforcement Agency (Pdea) for proper disposition and inquest proceedings.

The BOC said the case will be filed for alleged violations of Republic Act 9165, or the Comprehensive Dangerous Drugs Act of 2002, as amended, and Republic Act 10863, or the Customs Modernization and Tariff Act.

He said he has yet to confirm whether a House resolution has already been filed to formally trigger an investigation but stressed that the matter warrants close scrutiny once Congress resumes session, especially if it involves alleged failures to fulfill commitments tied to government approvals.

“I don’t know yet if a resolution has already been filed, but this is something that needs careful examination, particularly the issues surrounding Solar Philippines,” Adiong said.

Asked about calls to review the franchise granted to the company, Adiong reiterated that a congressional franchise is a privilege, not a right, and cannot simply be sold or transferred without following legal requirements.

Adiong explained that existing laws require Congress to be notified in cases involving mergers, transfers, or the sale of controlling shares of a franchise holder, as such changes alter who is responsible for operating under the franchise.

“Actually, under the law, if there is a merger, sale, or transfer of any

controlling stocks of a company that has been granted a franchise, it must first notify the House of Representatives. That is very clear in the law. So that would clearly be a violation of the law,” he said.

Beyond the legal requirement, Adiong said Congress has a duty to reassess who effectively holds the franchise after any change in ownership or control and whether the original intent of the grant and public accountability are being preserved.

He also cited allegations of unpaid financial obligations linked to the company’s commitments, noting that these claims – if validated—further strengthen the case for legislative review since franchises and service contracts are anchored on performance and compliance.

“Because you cannot simply pass on the privilege that was granted to you. If you sell your shares, especially controlling shares, or enter into a merger, the definition of who should hold the franchise changes,” he added.

“So whoever has the authority

Congressmen optimistic on SC ruling in Sara impeachment case

LAWMAKERS have expressed optimism that the Supreme Court (SC) will grant the House of Representatives’ motion for reconsideration in the impeachment case against Vice President Sara Duterte, citing the Senate’s assurance that it will act “forthwith” should the proceedings be allowed to resume.

Party-list Rep Jude A. Acidre of Tingog said the chamber is awaiting the High Court’s action on the pending MR and expects the impeachment process to continue from where it left off if the motion were given due course.

Acidre’s statement echoed earlier assurances from Senate President Vicente Sotto III that the Senate would act “forthwith” on any impeachment case transmitted to it—an assurance House leaders view as critical as they await the SC’s ruling.

“With regard to the motion for reconsideration, it is still in the Supreme Court, and we are waiting it action. So presumably if ever it is lifted or given due course, we expect the process will take off where it started, where it ended,” said Acidre.

At the same time, the House is preparing to adopt new impeachment rules for the 20th Congress

aligned with the Supreme Court’s latest jurisprudence. House leaders said the move aims to ensure that any future impeachment complaint, including those against Vice President Duterte, is procedurally sound and guided by clear standards.

“Once we approve the rules, because we haven’t approved the rules for impeachment yet for the 20th Congress, that would be more or less cognizant of the direction set already by the Supreme Court and its latest jurisprudence. But nonetheless, that is not to preempt what the final resolution would be on the pending motion for reconsideration,” Acidre said.

He added that clearer procedures and stronger rules would help ensure that any impeachment complaint filed in the House would be robust and defensible.

The push to revise impeachment rules follows the Supreme Court’s decision flagging procedural lapses in the earlier impeachment effort against the Vice President—a ruling the House has challenged through its pending MR.

Lanao del Sur Rep. Zia Alonto Adiong agreed, stressing that the SC ruling addressed procedural technicalities rather than the

substance of the impeachment complaint.

“But let me just clarify that the petition, I mean the decision of the Supreme Court regarding the impeachment, was more on the technicality and not on the merits of the case that we have filed,” Adiong said.

Acidre said the House must now craft impeachment rules that are consistent with the High Court’s guidance.

“Without conceding the pending motion for reconsideration, we will have to come up with rules that are ‘Supreme Court-proof’ and, in a way, cognizant of what the indications presented in the latest ruling on the third mode are,” Acidre said.

Adiong also cautioned against speculation on the filing and timing of any impeachment complaint, noting that Congress has yet to resume session and no new complaint is currently before the House.

No reason

ACIDRE and Adiong, meanwhile, dismissed renewed talk of a possible impeachment move against President Ferdinand Marcos Jr., stressing that no complaint has

See “Sara,” A8

Wind hazards affect several Luzon provinces as Ada maintains strength

TWO areas in the Bicol Region—Catanduanes and Caramoan in the eastern portion of Camarines Sur—remain under Wind Signal 2 as Tropical Storm Ada maintains strength as it slowly moves away from landmass toward the Philippine Sea. Signal 1 is still hoisted over the southern portion of Quezon (Tagkawayan, Guinayangan, Lopez, Calauag, Buenavista, San Narciso, San Andres, San Francisco, Mulanay, Catanauan, General Luna, Macalelon, Gumaca,

that granted you the franchise must be notified. At the very least, they should be informed that there is a plan to merge, sell, or whatever form the company intends to take,” he said.

Adiong said reports of subsidiaries, mergers, and transfers connected to the company’s operations make it difficult for the public to track responsibility and could blur liability.

“Because the company’s contractual and financial obligations were not delivered. I think around P24 billion is what he [Leviste] needs to pay the government,” he added.

“For us, this is a valid concern that the House of Representatives should look into because there appears to be corporate layering that obscures the real issue,” Adiong said.

Solar Para Sa Bayan Corp. (SPBC), a power company linked to Leviste, was granted a congressional franchise in 2019 under Republic Act 11357 to build, install, and operate solar-powered microgrids in remote and off-grid

communities. Leviste on Friday filed a civil libel complaint against Malacañang Press Officer Claire Castro, accusing her of spreading false claims that he illegally sold SPBC’s franchise. He is seeking P100 million in moral damages, P10 million in exemplary damages, and P1 million in attorney’s fees.

Earlier this week, the Department of Energy imposed a P24billion fine on Solar Philippines Power Project Holdings Inc. (SPPPHI), the parent firm of Levistelinked solar companies, for allegedly failing to generate power committed under more than 30 service contracts.

Leviste has denied the allegations, saying the projects could not proceed because the government failed to issue permits. He also said SPBC’s franchise was automatically revoked and rendered moot in 2022 after the DOE failed to issue implementing rules, adding that the company sold to Manila Electric Co. was SP New Energy Corp. (SPNEC), which did not hold a franchise.

Bonoan back, expected to attend Senate hearing

TPitogo, Unisan, Atimonan, Plaridel, Agdangan, Padre Burgos, Quezon, Alabat, Perez), including Polillo Islands, Camarines Norte, the rest of Camarines Sur, Albay, Sorsogon, and Ticao and Burias Islands; and Northern Samar in the Visayas. The Philippine Atmospheric Geophysical and Astronomical Services Administration (Pagasa) said in its Tropical Cyclone Bulletin issued at 11 a.m. on Sunday.

See “Wind,” A8

By Joel R. San Juan @jrsanjuan1573

HE Bureau of Immigration (BI) on Sunday confirmed the arrival of former Public Works secretary Manuel Bonoan who is being linked to the multibillion anomalous flood control and infrastructure projects implemented during his watch.

In a statement, the BI said Bonoan arrived at the Ninoy Aquino International Airport on Sunday morning, via China Airlines flight CI0701 from Taipei.

He was placed in the BI’s Lookout Bulletin Order (Ilbo) following an order from the Department of Justice (DOJ) to monitor his travels in relation to an ongoing investigation into alleged anomalous flood control and so-called “ghost” projects. Records indicate that Bonoan left the country in November to accompany his wife to the United States for a medical procedure and was supposed to return on December 17.

The BI said the former DPWH secretary arrived without any reported travel companion.

Immigration Commissioner Joel Anthony Viado said they have relayed the information promptly to the Secretary of Justice, following current procedures. Bonoan resigned from the DPWH in September citing “command responsibility” over the flood control scandal. He is facing administrative charges before the Ombudsman for grave misconduct, gross dishonesty conduct prejudicial to the best interest of the service under Republic Act 6713 or Code of Conduct and Ethical Standards for public Officials and Employees for the alleged P72.3 million “ghost” flood control project in Plaridel, Bulacan; P95 million ghost flood control project in Bocaue, Bulacan and P74 million ghost flood control projects in Hagonoy, Bulacan. Earlier, the Senate Blue-Ribbon committee chairman, Sen. Panfilo Lacson, claimed that he received information that Bonoan “deliberately” sent Malacañang wrong grid coordinates of flood control projects. The “incorrect grid coordinates,” according to Lacons, were used on the Sumbong sa Pangulo website, which tracked flood control projects across the country from mid-2022 to mid-2025. Bonoan has been subpoenaed by the committee to attend the continuation of its hearings into the flood control mess scheduled on Monday.

Phivolcs: 235 rockfalls at Mayon, 5 volcanic earthquakes at Kanlaon

By Jonathan L. Mayuga @jonlmayuga

THREATS and hazards prevail at Mayon Volcano in Albay and Kanlaon Volcano on Negros Island as they continue to show signs of restiveness, the Philippine Institute of Volcanology and Seismology (Phivolcs) reported. Lava dome and lava flow effusion continue at Mayon Volcano, with Phivolcs also recording a total of 235 rockfall events and 48 pyroclastic density currents (PDC) during the past 24 hours ending

12 midnight Sunday. Crater glow at Mayon, one of the country’s most active volcanoes and known for its near-perfect cone, remains visibly “fair” to the naked eye. On Friday, sulfur dioxide flux reached 4,97 tons per day. Phivolcs said the volcano edifice of Mayon is still inflated, indicating magmatic activity. Still under Alert Level 3 or Intensified Unrest, entry into the six-kilometer radius Permanent Danger Zone and entry without

A shared vision for wellness

FOR nearly 15,000 residents across four barangays served by the San Vicente Health Center in Quezon City, the path to quality healthcare has just become clearer. A strong primary health care system begins with a shared vision that puts people first, brings services closer to communities, and treats health care as both a right and a responsibility.

Th is vision is reflected in the words of San Vicente Health Center medical officer Dr. Dane Calica and District 4 Health Officer Dr. Marizel Wong, whose dedication to public service found a meaningful partner in SM Foundation.

“My vision for a health center is one that is aligned with universal health care, strong, inclusive, modern, and patient-centered, where we promote wellness, prevent disease, treat illness, and deliver quality care across all stages of life,” Dr. Calica said.

The San Vicente Health Center has long served as a primary care provider, but demand has outpaced capacity. The facility faced space

limitations, aging infrastructure, and challenges brought about by its location in a flood-prone area. Maternal and child health services, in particular, remained among the most in-demand, often filling the center early in the week. Recognizing these gaps, SM Foundation collaborated with the Quezon City local government unit to transform the health center not only structurally, but functionally. Among the most significant additions are a dedicated adolescent room, a breastfeeding room, and a minor surgical room. The upgrades also include improved consultation rooms, expanded waiting areas, a pharmacy

and dental clinic, and dedicated spaces for elderly patients, pregnant women, and children.

Th rough SM Foundation’s health and medical programs, the facility is now equipped with DigiKonsulta, enhancing access to consultations and health services. These upgrades now allow the San Vicente Health Center to meet the requirements for Department of Health accreditation as a Primary Care Facility, “Malaking bagay ito because the public and private sectors really have to go hand in hand,” Dr. Wong said. “If the private sector gives efficiency, the government gives equity,” she said.

She added that the renovated facility now feels “more homelike,” creating a welcoming environment that encourages patients, especially those who were previously hesitant to seek care earlier.

A key feature of the renovation is the adolescent room, designed to address gaps in youth-friendly health services. Dr. Calica emphasized the importance of creating a safe and confidential space for young people, noting that “adolescents often hesitate to consult for mental health or reproductive concerns in shared clinical areas, which is why having a dedicated, youth-friendly room is crucial.”

Dr. Wong highlighted how the improvements enabled by SM Foundation encourage timely careseeking. “Because of the renovation, more patients are now willing to come to the health center early,”

“ The upgrades by SM Foundation have strengthened not only our primary health care services but also supported our health care workers,” Dr. Calica shared. “This allows us to deliver better health outcomes for the community.”

The transformation of San Vicente Health Center is anchored in the commitment of its healthcare workers. Dr. Wong describes public health as a calling, one that brings fulfillment despite its chal-

Body of last missing victim in Cebu trash slide recovered

By Jonathan L. Mayuga @jonlmayuga

THE body of the last missing victim in the Cebu City trash slide was recovered on Sunday morning, the Bureau of Fire Protection (BFP) reported.

A total of 36 persons, including four contractors of the landfill operator, were killed following the collapse of the garbage piled in the facility.

NMC: Lawful maritime operations to continue

HE National Maritime Council (NMC)

Tsaid the Philippines will continue to carry out lawful maritime operations in the West Philippine Sea (WPS) to protect the country’s sovereignty and the Filipino fisherfolk.

The NMC issued a statement as it reiterated the Philippines’ “clear and settled position” that its actions in the WPS are lawful, responsible, and firmly anchored on international law,” citing the United Nations Convention on the Law of the Sea (Unclos) and the 2016 arbitral award.

Responding to China’s recent remarks concerning the situation in WPS, the NMC said the Philippines’ lawful actions “should not be misrepresented as acts of aggression or provocation.”

“Guided by these principles, the Philippines continues to pursue a policy of restraint, transparency, and respect for international law,” the NMC said.

“Philippine maritime activities will continue to be conducted in order to protect the country’s sovereignty, sovereign rights and jurisdiction, and to safeguard the welfare of Filipinos, especially our traditional fisherfolk and coastal communities relying on the sea for their livelihood,” it added.

The statement came after the Chinese Embassy in Manila criticized the Philippines’ alleged “provocative” acts, claiming that Filipino fisherfolk are being used as “political tools to intrude into sensitive waters.”

The embassy also claimed that there is no such term as “maritime zones” in the Unclos.

The NMC stressed that the 2016 arbitral ruling, which is final and legally binding, clarified the application of UNCLOS in the South China Sea and the WPS. The arbitral award also affirmed the Philippines’maritime entitlements, including its sovereign rights over features within its exclusive economic zone (EEZ) and continental shelf such as Ayungin Shoal Panganiban Reef, the NMC said.

The NMC cited the arbitral tribunal’s finding that large-scale land reclamation and artificial island-building, as well as the harvesting of endangered marine species by Chinese vessels within the Philippines’ EEZ and in Bajo de Masinloc, “caused serious harm to the marine environment and violated Unclos.”

“On the other hand, the Philippines has remained faithful to Unclos and its resort to arbitration was found to be firmly grounded in UNCLOS and general international law,” it said.

“It is to be underscored that both the Philippines and China have already given their advance consent to compulsory arbitration upon their ratification of the Unclos and that the maritime issues brought by the Philippines for resolution by arbitration were found to be within the Tribunal’s jurisdiction under Unclos.”

The NMC reiterated the country’s commitment to the peaceful management of differences through dialogue and confidencebuilding measures, while remaining firm in speaking out when its sovereignty, sovereign rights or jurisdiction are challenged, in support of a rules-based maritime order. It said the country seeks to prevent misunderstandings and miscalculations at sea, ensuring that activities are carried out “safely, professionally, and in accordance with international law.”

“We remain ready to engage constructively, in good faith and with mutual respect, in the interest of peace, stability, and cooperation in the region,” the NMC said.

The garbage slide buries the administration building of the facility. With the retrieval of the last fatality, the 10-day search

and retrieval operation, which started on January 8 following the incident, officially ended.

The official count is 36 killed, 18 injured.

The Cebu City Fire Station posted in its official Facebook page that as of 5:41 a.m., all reported missing individuals have been accounted for and that “responding teams have completed systematic search, rescue and retrieval operations, ensuring that no further missing persons remain.”

“The search and retrieval operation ended because all of the missing persons are now accounted for,” Senior Fire Officer 3 Wendell Villanueva, Cebu City Fire Department

Bicol, Davao minimum wage determination still within deadline

By Justine Xyrah Garcia

Public Information Unit chief, said.

“We are wrapping up the operation. May natitira pa pero hindi na about search and retrieval,” Villanueva said.

Villanueva added that coordination among ground units and partner agencies remains in effect as post-operation assessment and site monitoring continue.

The BFP is at the forefront of the search, rescue, and retrieval operation since day 1 and was augmented by personnel from the landfill operator, Prime Waste Solutions; Apex Mining; Carmen Copper; PLD Construction; MDC, Orica, and the Army 525th Engineer Combat Battalion.

‘Chinese Embassy’s rantings against PCG WPS spokesman a violation of Vienna Convention’

APOLITICAL analyst on Saturday said the Chinese Embassy in Manila’s repeated criticisms of the Coast Guard (PCG) spokesperson for the West Philippine Sea, Commo. Jay Tarriela and other Filipino officials run counter to the Vienna Convention on Diplomatic Relations.

Speaking at a news forum in Quezon City, Ronald Llamas said the embassy’s social media attacks against Tarriela amount to a violation of Article 41 of the Vienna Convention, which requires foreign diplomats to respect the laws of the host country and refrain from interfering in its internal affairs.

“Iyong ganoong klaseng lengwahe, ang ganong klaseng atake ay hindi atake sa isang tao. Hindi atake iyon kay Jay. Atake iyon sa ating bansa dahil spokesperson siya ng isang mahalagang institution ng ating bansa, ang ating Coast Guard, ang ating [That kind of language, that kind of attack is not an attack on one person. That is not an attack on Jay. That is an attack on our country. He is the spokesperson of an important institution of our country, our Coast Guard, our] security sector,” he said. Article 41 states that officials and members of diplomatic missions, without prejudice to their

privileges and immunities, must “respect the laws and regulations of the receiving State. They also have a duty not to interfere in the internal affairs of that State.”

A similar sentiment was aired by Akbayan Rep. Chel Diokno on Friday night and called on the Department of Foreign Affairs to intervene.

“The Chinese Embassy’s attacks on our officials—particularly Sen. Francisco Pangilinan, Congresswoman Leila de Lima, Rear Adm. Roy Vincent Trinidad, Philippine Coast Guard Commo. Jay Tarriela, and the National Maritime Council—constitute a clear violation of Article 41 of the Vienna Convention on Diplomatic Relations,” he said.

Since last week, Chinese Embassy Deputy spokesperson Guo Wei and Tarriela have been trading barbs over developments in the West Philippine Sea, with Tarriela describing Beijing’s posture as “more aggressive, confrontational, and vocal.”

The embassy dismissed as “wrongful and groundless” statements by lawmakers, including those of de Lima, who earlier criticized China’s actions in the South China Sea.

On Friday, the Chinese Embassy again rebuked Tarriela, accusing

him of “hyping up maritime issues” and “misrepresenting facts,” and disclosed that it had filed a diplomatic protest against him over an alleged smear of Chinese leaders linked to a circulated cartoon resembling Chinese President Xi Jinping.

“There is no authority for the Chinese Embassy to ask us to explain,” Tarriela said during the same forum. “Why would I apologize, because of the caricature, iyon ba ang issue nila [Is that their issue]?”

“I didn’t even mention na si President Xi Jinping iyon. Sila nga ang nagpangalan doon . Secondly, sino ba ang mga caricature na ginawan na rin nila na mga national leaders? Ang intention talaga ng embassy is to justify iyong panawagan nila [They are the ones who made the label. Secondly, don›t they also have a caricature of other national leaders? I think the intention of the embassy is to justify their call] to silence me, I think,” he added.

For weeks, Tarriela said the embassy had been downplaying Chinese presence in the West Philippine Sea and “amplifying their lies and misinformation” about the area and the 2016 Arbitral Award.

“I don’t think there’s a need for me to apologize to the Chinese Embassy,” he said. PNA

CIAC leads push for electric mobility

CLARK FIELD, Pampanga–

The Clark International Airport Corporation (Ciac) has taken a decisive step toward sustainable transport with the acquisition of electric vehicles (EVs), becoming the first government agency in the Clark Freeport Zone to integrate EVs into its official fleet in support of the Electric Vehicle Industry Development Act (Evida).

Ciac President and Chief Executive Officer Jojit Alcazar said the acquisition of five EV units aligns with Evida, which mandates the gradual adoption of electric vehicles in government fleets to strengthen the local EV industry, cut fossil fuel dependence, and help decarbonize the transport sector.

“Ciac’s acquisition of electric vehicles is our concrete contribution to the Evida law and the national drive toward cleaner and more sustainable mobility,” Alcazar said.

Alcazar noted Ciac has already

disposed of several decades-old, unserviceable vehicles and replaced them with EVs as part of its fleet modernization program.

The initiative complements Executive Order 62 (s. 2024), issued by President Marcos on June 20, 2024, which extended and expanded zero import duties on EVs and their components until 2028.

The order covers battery electric vehicles (BEVs), hybrid EVs (HEVs), plug-in hybrid EVs (PHEVs), as well as e-motorcycles, e-bicycles, and e-tricycles, making electric mobility more affordable and accessible nationwide.

The Palace directive, which took effect in July 2024, targets a 10-percent EV share in government fleets and supports broader national goals of deploying millions of EVs by 2028.

Meanwhile, the Department of Energy (DOE) continues to fasttrack electric mobility through its Comprehensive Roadmap for the Electric Vehicle Industry (Crevi), which aims for a 50-percent EV

fleet share by 2040.

Under the roadmap, the country targets 2.45 million EVs, including cars, motorcycles, tricycles, buses, and public utility vehicles, by 2028.

Alcazar emphasized that CIAC’s transition to electric vehicles reflects a global shift toward green technologies and climate-resilient development.

“We have integrated EVs into our corporate operations to promote innovation in clean, sustainable, and energy-efficient solutions while reducing greenhouse gas emissions,” he said.

He added the move also strengthens the country’s energy security by lowering dependence on imported fuel for the transport sector.

As the Bases Conversion and Development Authority’s premier aviation and land development arm, Ciac remains committed to transforming the Clark aviation complex into the Clark Aviation Capital, a dynamic business center poised to become the country’s leading global aviation and logistics hub.

THE National Wages and Productivity Commission (NWPC) has clarified that the minimum wage determination process for the Bicol and Davao regions remains on track.

The clarification came after a labor group last week criticized the supposed delay in the release of new wage orders in the two regions.

In a recent statement, the NWPC said there is no delay as the minimum wage determination process in Regions V and XI has not yet reached the start of the legally prescribed 60-day window for regional boards to begin their review.

“There is no delay, and the claim suggesting otherwise is misleading. The labor sector is represented in wage boards, and the concerned RTWPB representatives in Regions V and XI are fully aware of the prescribed timelines and the rules,” the NWPC said. Under the Omnibus Rules on Minimum Wage Determination (NWPC Guidelines No. 03, Series of 2020), Regional Tripartite

Wages and Productivity Boards (RTWPBs) may initiate wage determination—either motu proprio or upon petition—within 60 days before the anniversary date of the previous wage order.

For the Davao Region, the anniversary date of the last Wage Order is March 7, meaning its 60-day window began only on January 6. Meanwhile, Bicol Region’s anniversary date is April 5, making its 60-day window set to open on February 4.

As such, the NWPC noted that both regions remain within the legally established timelines.

The NWPC said it remains committed, together with the regional boards, to “periodically assess and issue timely and evidence-based” minimum wage orders.

The Department of Labor and Employment (DOLE) earlier reported that 14 out of 16 regions have granted wage increases to private sector workers for 2025. More than 4.5 million minimum wage earners in the private sector, along with 755,000 domestic workers, have benefitted from the wage orders issued by the RTWPBs.

Policemen seize ₧202M counterfeit footwear, equipment, nab 4 Chinese

CRIMINAL Investigation and Detection Group (CIDG) agents seized P202 million worth of counterfeit footwear, products and machinery in Bulacan and Pampanga on Saturday.

Four Chinese nationals were also arrested.

A National Police (PNP) news release said the first operation in barangay Inaon, Pulilan, Bulacan, yielded 1,119 boxes of counterfeit footwear worth P141 million, 30 sacks of footwear accessories (PHP39 Pon), one injector machine (P2.5 million), and three sets of molding machines (P14.2 million)

Three Chinese nationals were arrested and they are now in the custody of the CIDG Regional Field Unit.

On the same day, CIDG operatives arrested another Chinese national who yielded counterfeit Crocs slippers worth P513,206.00 and a molding machine worth P4.75 at a warehouse inside an industrial park in barangay San Pablo Libutad, San Simon, Pampanga.

The Pampanga operation was launched following information from a civilian informant.

Complaints from online consumers regarding product defects and inconsistencies with genuine footwear items further supported the enforcement action.

Body-worn cameras were utilized throughout the operation to ensure transparency and proper documentation.

“Hindi puwedeng hayaang masiraan ang tiwala ng publiko sa mga produkto sa merkado [Public trust at products in the market should not be eroded] ,” the acting PNP Chief, Lt. Gen. Jose Melencio Nartatez, said in a statement.

Ang PNP ay narito upang tiyakin na ang lahat ng negosyo ay sumusunod sa batas at may pananagutan sa kanilang ginagawa [The PNP is here to ensure that all businesses comply with the law and are accountable for their actions].”

The seized items were documented and turned over to a designated storage facility, while case records are being finalized in coordination with prosecutors.

Nartatez also announced the confiscation of P20 million of illegal drugs and smuggled cigarettes and the arrest of 22 most wanted persons (MWPs) on January 15 and 16.

The anti-illegal drugs operation on Jan. 16 resulted in the arrest of suspects listed as the top 10 MWPs at the regional level. The arrests were carried out across the country through coordinated operations by Police Regional Offices, CIDG units, and support forces. PNA

AFP warns vs false claims on socmed

THE Armed Forces (AFP) has warned the public against circulating social media posts and online content that falsely claim divisions within the military and allege political realignments among its senior officers.

The AFP said the narrative, claiming the military has withdrawn support from the administration of President Marcos and shifted allegiance to Vice President Sara Duterte, is fake news and deliberate disinformation.

“Let us be clear: the AFP remains united, professional, and non-partisan. Our loyalty is to the Constitution and the Filipino people –not to any political figure or agenda,” it said. The AFP urged the public to remain vigilant and avoid sharing unverified information.

“We urge everyone to be vigilant, verify information from credible and official sources, and refrain from sharing unverified content that only fuels division and instability,” it said. PNA

“These narratives are fake news and deliberate disinformation designed to sow confusion, mistrust, and division—both within the ranks and among the Filipino people,” it said in a statement shared on social media. The military stressed that it remains united, professional, and non-partisan.

Thousands march in Greenland to support Arctic island in the face of Trump’s threats to take it over

By Emma Burrows, Daniel Niemann & Stefanie Dazio

NThe Associated Press

UUK, Greenland—Thousands of Greenlanders carefully marched across snow and ice to take a stand against US President Donald Trump on Saturday. They held signs of protest, waved their national flag and chanted “Greenland is not for sale” in support of their own self-governance in the face of increasing threats of an American takeover.

Just as they finished their trek from the small downtown of Greenland’s capital city Nuuk to the US Consulate, the news broke: Trump, from his home in Florida, announced he will charge a 10% import tax starting in February on goods from eight European countries over their opposition to US control of Greenland.

“I thought this day couldn’t get any worse but it just did,” Malik Dollerup-Scheibel said after The Associated Press told him about Trump’s announcement. “It just shows he has no remorse for any kind of human being now.”

Trump has long said he thinks the US should own the strategically located and mineral-rich island, which is a self-governing territory of Greenland. Trump intensified his calls a day after the military operation to oust former Venezuelan President Nicolás Maduro earlier this month.

Dollerup-Scheibel, a 21-year-old Greenlander, and Greenland Prime Minister Jens-Frederik Nielsen were among what others described as the island’s biggest protest, drawing nearly a quarter of Nuuk’s population. Others held rallies and solidarity marches across the Danish realm, including in Copenhagen, as well as in the capital of the Inuit-governed territory of Nunavut in Canada’s far north.

“This is important for the whole world,” Danish protester Elise Riechie said as she held Danish and Greenlandic flags in Copenhagen. “There are many small countries. None of them are for sale.”

In Nuuk, Greenlanders of all ages listened to traditional songs as they walked to the consulate. Marie Ped-

ersen, a 47-year-old Greenlander, said it was important to bring her children to the rally “to show them that they’re allowed to speak up.”

“We want to keep our own country and our own culture, and our family safe,” she said.

Her 9-year-old daughter, Alaska, crafted her own “Greenland is not for sale” sign. The girl said her teachers have addressed the controversy and taught them about Nato at school.

“They tell us how to stand up if you’re being bullied by another country or something,” she said.

Meanwhile, Tom Olsen, a police officer in Nuuk, said Saturday’s protest was the biggest he’s ever seen there.

“I hope it can show him that we stand together in Europe,” he said. “We are not going down without a fight.”

Tillie Martinussen, a former member of Greenland’s parliament, said she hopes the Trump administration will “abandon this crazy idea.”

“They started out as sort of touting themselves as our friends and allies, that they wanted to make Greenland better for us than the Danes would,” she said as others chanted in the background. “And now they’re just plain out threatening us.”

She added that the push to preserve Nato and Greenland’s autonomy were more important than facing tariffs, though she added that she was not dismissing the potential economic impact.

“This is a fight for freedom,” she said. “It’s for Nato, it’s for everything the Western Hemisphere has been fighting for since World War II.”

But when the AP asked Louise Lennert Olsen what she would say to Trump, the 40-year-old Greenlandic nurse instead said she wanted to give a message to the American people.

“I would really like them to support our wish to be Greenland as we are now,” she said as she marched through Nuuk. “I hope they will stand against their own president. Because I can’t believe they just stand and watch and do nothing.” Niemann reported from Copenhagen, Denmark, and Dazio from Berlin. Associated Press journalists Kwiyeon Ha and Evgeniy Maloletka in Nuuk, Greenland, contributed to this report.

Trump hits 8 Nato allies with tariffs as he pursues Greenland

By Josh Wingrove & María Paula Mijares Torres

PRESIDENT

Donald Trump announced a 10 percent tariff on goods from European countries rallying to Denmark’s side in his pursuit of Greenland, a dramatic escalation in the standoff that sparked strong pushback from some of the US’s closest allies.

Trump threatened in a social media post to impose the tariff Feb. 1 and raise the levy to 25 percent in June unless and until “a Deal is reached for the Complete and Total purchase of Greenland.”

The tariffs will apply to Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands and Finland, he said.

The explosive move targets several members of the Nato alliance, which includes Denmark. Those countries now face the prospect of punitive tariffs from an ally seeking to pry loose territory within the bloc.

The European Union said Saturday that it stands behind Denmark and Greenland, and a senior European lawmaker called for a halt to a US-EU trade truce sealed with Trump in July. EU national ambassadors will meet Sunday to discuss the bloc’s next steps, according to a person familiar with the matter.

Saturday that agreement with the US “is not possible at this stage.”

The EPP is the parliament’s largest faction and if EPP lawmakers join left-leaning political groups, it’s likely they’d have enough votes to delay or block the deal.

It’s not immediately clear what legal authority Trump would use— and, in turn, whether the tariffs are certain to take effect—or how he would seek to apply individual new tariffs to EU member states. The

istration figures and members of Congress, along with Greenland’s foreign minister, Vivian Motzfeldt, also participated.

Denmark and Greenland remain in a stalemate with the US over the future of the world’s largest island, though officials this week agreed to set up a working group to manage the diplomatic dispute.

“Tariffs would undermine transatlantic relations and risk a dangerous downward spiral,” EU chiefs Ursula von der Leyen and Antonio Costa said in a joint statement. “Europe will remain united, coordinated, and committed to upholding its sovereignty.”

French President Emmanuel Macron branded Trump’s threats “unacceptable.” Swedish Prime Minister Ulf Kristersson said his country wouldn’t be “blackmailed” and UK Prime Minister Keir Starmer called the use of tariffs on Nato allies “completely wrong,” saying he’ll take up the matter with the US.

“The Pandora’s box of tariffs has been reopened—and the stakes are higher, with an unprecedented level of brutality,” said Simone Tagliapietra, senior researcher at the Bruegel think tank in Brussels. “Europe now has no choice but to confront this hostile act with strength and without hesitation, including by resorting to its anti-coercion instruments.”

EU lawmakers are poised to halt last year’s trade deal with the US after Manfred Weber, head of the European People’s Party group, said

White House didn’t immediately respond to a request for additional information.

Trump has relied on the International Emergency Economic Powers Act previously for similar threats. His use of that authority is the basis of a landmark Supreme Court case, with a ruling expected soon. The court’s ruling could upend Trump’s threat; one alternative the administration has weighed, so-called Section 122 powers, are capped at 15 percent tariffs for 150 days.

Altogether, that raises questions about whether Trump will be able to enact the tariffs and for how long.

Under a trade agreement struck in July, Washington imposed a 15 percent tariff on most goods the EU exports to the US and 50 percent on steel and aluminum, as well as on many derivative products that contain the metals. The European Parliament still hasn’t ratified that accord, which has angered the Trump administration.

Trump’s move follows a week of meetings in Washington by Danish Foreign Minister Lars Lokke Rasmussen with top Trump admin-

Denmark said it plans to coordinate with EU allies and other partners.

“The president’s announcement comes as a surprise,” Denmark’s Rasmussen said in an e-mailed statement. “The purpose of the increased military presence in Greenland, which the president refers to, is specifically to enhance security in the Arctic.”

Trump’s move also flies in the face of trade deals

Trump has already struck, such as with the UK. His track record of tearing up agreements, or simply disregarding them, will hang over ongoing talks with other countries, such as Mexico and Canada, with whom Trump wants to rewrite the three-way deal he signed in his first term.

Denmark had invited Nato allies to take part in training activities in Greenland, with several European nations having now dispatched personnel to the island. The US is among those invited, according to a Danish military official.

Several European countries responded to that request as a way to show that the continent was taking seriously its role in helping to defend Greenland.

Germany sent 15 soldiers for an “exploration mission” to Greenland, France is sending 15 soldiers, Sweden is sending “several officers,” Norway two people, Finland two liaison officers and the UK is dispatching one officer. The Netherlands is sending two people, according to the defense ministry.

“We have also made clear that

Arctic security matters for the whole of Nato and allies should all do more together to address the threat from Russia across different parts of the Arctic,” the UK’s Starmer said. The deployment of European soldiers in Greenland highlights the urgency that Europe sees to respond to US threats and pressure.

“These Countries, who are playing this very dangerous game, have put a level of risk in play that is not tenable or sustainable,” Trump wrote in his post.

A senior German lawmaker said that Europe shouldn’t yield to Trump.

“This seems to be a typical Trump reflex. When he doesn’t get his way, he resorts to the tariff whip,” said Andreas Schwarz, a member of Germany’s ruling Social Democrats. “We must not allow ourselves to be intimidated by this. International law cannot be changed by tariffs.”

The US is open to negotiations with Denmark and the European countries that have been involved, Trump wrote in the post.

“We’re talking about acquiring —not leasing, not having it shortterm, we’re talking about acquiring and if we don’t do it, Russia or China will and that’s not going to happen while I’m president,” Trump told reporters Sunday aboard Air Force One as he returned to Washington from Florida.

Trump acknowledged there was already a large US military base in Greenland. He said he could build up the forces on the base, but “we have to have ownership. You really need title, as they say in the real estate business.”

Trump said the US needs Greenland to build out its Golden Dome project, which is in early-stage development. “This very brilliant, but highly complex system can only work at its maximum potential and efficiency, because of angles, metes, and bounds, if this Land is included in it,” Trump said.  With assistance from Charles

EU set to halt approval of US trade deal over Trump’s new tariff threat

EBy Richard Bravo

UROPEAN Union lawmakers are poised to halt approval of the EU’s trade deal with the US over President Donald Trump’s vow to impose tariffs on countries that supported Greenland in the face of American threats.

Manfred Weber, president of the European People’s Party, the largest political group in the European Parliament, said on Saturday that agreement with the US is no longer possible.

“The EPP is in favor of the EU-US trade deal, but given Donald Trump’s threats regarding Greenland, approval is not possible at this stage,” Weber posted on social media. He added that the EU agreement to lower tariffs on “US products must be put on hold.”

The EU-US trade agreement,

which European Commission President Ursula von der Leyen struck with Trump last summer, has already been partially implemented but still needs a nod from parliament. If EPP lawmakers join left-leaning political groups, it’s likely they’ll have enough votes to delay or block approval.

The trade agreement set a 15% US tariff for most EU goods in exchange for a pledge by the EU to eliminate duties on US industrial goods and some agricultural products. Von der Leyen, who oversees trade negotiations for the EU, made the deal in the hopes of avoiding a full-blown trade war with Trump. A vocal faction of EU lawmakers have long railed against the agreement, arguing it was too lopsided in favor of the US. That anger has deepened as the US expanded a 50% tariff on steel and aluminum to hundreds of additional EU products after the July accord.

US Trade Representative Jamieson Greer criticized the EU last month for not following through on aspects of the agreement, particularly in regards to the bloc’s regulation of tech companies.  Trump on Saturday announced a 10% tariff as of Feb. 1 on goods from European countries that have

rallied to support Greenland in the face of US threats to seize the semiautonomous Danish territory. He said the levies would increase to 25 percent unless and until “a Deal is reached for the Complete and Total purchase of Greenland.”

The announcement drew a quick rebuke from European leaders, who are working out the next steps. Von der Leyen said in a statement that “tariffs would undermine transatlantic relations and risk a dangerous downward spiral” while French President Emmanuel Macron dismissed Trump’s threats as “unacceptable.”

As a result of the latest moves, passage of the trade deal has become more complicated.

“It is clear that national sovereignty of any country needs to be respected by all partners of the trade deal,” Bernd Lange, the longtime chair of European Parliament’s

trade committee who helps oversee the discussion on ratifying the trade deal, said in an interview this week.

Following Trump’s announcement Saturday, Lange posted on social media that work on implementing the trade accord with the US should be suspended until Trump’s threats ceased. He also called for the EU to use its anti-coercion instrument, the bloc’s most powerful retaliatory trade tool.

The ACI, which has never been used, was designed primarily as a deterrent, and if needed, to respond to deliberate coercive actions from third countries that use trade measures as a means to pressure the policy choices of the EU or its members.

Those measures could include tariffs, new taxes on tech companies or targeted curbs on investments in the EU. They could also involve limiting access to certain parts of the EU mar-

ket or restricting firms from bidding for public contracts in Europe. The parliament has been in a wait-and-see mode for days. Members of Lange’s trade committee met Wednesday for an initial discussion about tying Greenland’s sovereignty to the US trade deal and decided to reconvene in a week.

Per Clausen, a Danish MEP with The Left, gathered 30 signatures for a letter sent Wednesday to Parliament leaders urging them to “freeze” the trade deal “as long as claims for Greenland and threats are made by the US administration.”

“It would seem extremely strange if we were to enter into an agreement with the US now,” Clausen said in an interview. “This would be a clear signal that, from the EU’s side, we are prepared to use the instruments we now have vis-a-vis the US if they continue their aggression.” Bloomberg

DHSUD acts on 129 pending housing permit applications

By Bless Aubrey Ogerio

THE Department of Human Settlements and Urban Development (DHSUD) has acted on pending applications for certificates of registration and licenses to sell (CR-LS), following an internal directive to clear housing permit filings submitted last year. Of the 129 applications lodged in 2025, those that complied with documentary and technical requirements were released, while others were returned to developers for completion or terminated due to non-compliance.

The released certificates covered housing projects across socialized, economic and open market segments in various parts of the country, the department said.

Earlier, the DHSUD directed all its regional offices to release pending CR-LS applications from 2025 that had completed requirements within the first 10 working days of 2026, or until January 16.

Housing Secretary Jose Ramon Aliling said the shortened release timeline did not relax regulatory standards and would be carried out strictly within existing housing laws and implementing rules.

The DHSUD also said new CR-LS applications filed in 2026 would be processed within the timelines set under its streamlined guidelines.

The move comes amid broader discussions within the housing sector on easing bottlenecks in project delivery.

During the National Developers Convention in October, industry experts flagged the need to unlock idle escrow funds and reduce permit-related delays to sustain private sector participation in the government’s National Shelter Program.

In a media forum last week, DHSUD Undersecretary Henry Yap said the department has recalibrated its housing target for the current administration to 1.133 million units.

Yap also noted that more than 400,000 units have already been delivered, adding that the department expects to meet the revised target within the administration’s term.

Earlier, the DHSUD and the Department of Economy, Planning, and Development issued a joint memorandum adjusting the price ceiling for socialized housing to P950,000 for house-and-lot or horizontal developments and P1.8 million for condominiumtype units.

The housing sector and the Bureau of Internal Revenue also had a partnership to simplify the process for securing tax exemptions for socialized housing projects.

Group assails resumption of seabed quarrying operations off Ilocos Sur

By Jonathan L. Mayuga @jonlmayuga

DID the Department of Environment and Natural Resources Regional Office

1 reinstate the Memorandum of Agreement (MOA) with the Isla Verde Mining and Development Company (IVMDC) for seabed quarry operations within the municipal waters of Santa and Caoayan?

This question was raised anew as local fishermen and coastal residents in Caoayan, Ilocos Sur, reported the ongoing dredging operations of IVMDC.

The Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) said that the dredging project caused a “drastic decline” in municipal fish catch. Before the dredging project began in 2024, small fishers were able to gather at least 100 cans (each containing 17 liters) of ipon (a species of gobies) per trip. But nowadays, they catch hardly enough for their own consumption because the dredging operations have effectively disrupted and driven

away the fish.

The fishers’ group, together with Defend Ilocos Sur Network, said that they will continue to mount protest actions demanding the complete cancellation of the seabed quarry project, and accountability in the form of adequate compensation and restoration of destroyed marine and coastal resources.

The dredged materials in Ilocos Sur are believed to be transported to a reclamation project on Manila Bay.

To recall, the seabed quarry operation was reportedly halted after the DENR, through its Regional Executive Director for the Ilocos Region, Crizaldy M. Barcelo, cancelled the MOA with IVMDC for two Ilocos Sur towns.

IVMDC, which has been conducting seabed quarrying operations in Caoayan and Santa towns, has been the subject of numerous complaints by the communities for allegedly causing environmental damage, which resulted in the loss of income and livelihood of many fishermen in the two towns.

DSWD transfers beneficiaries of Akap to AICS program

By Jovee Marie N. dela Cruz @joveemarie

THE Department of Social Welfare and Development (DSWD) has confirmed that the Assistance to Individuals in Crisis Situation (AICS) program will accommodate clients of the now-defunded Ayuda sa Kapos ang Kita Program (Akap) under its P63.8-billion budget allocation for 2026.

DSWD Crisis Intervention Pro -

gram (CIP) Director Edwin Morata

said the AICS has sufficient funds to serve former Akap beneficiaries, including the issuance of guarantee letters (GLs) for qualified clients.

“These 3.9 million individuals will now be part of AICS this year. They are also experiencing crisis situations— for example, they need medicines or have been hospitalized. If they are removed, they might feel they have nowhere to turn. But rest assured, AICS remains in place,” Morata said on Saturday.

Akap was implemented as a twoyear program starting in 2024 and assisted 3.9 million in 2025 alone.

In 2025, Akap disbursed P24 billion nationwide to support low-income earners. The program provided medical and burial assistance, transportation, and food aid, including the issuance of guarantee letters.

“We partnered it under AICS to ensure that the right services are being provided to the right person and for the right purpose,” Morata said.

He also emphasized the importance of partnerships in the

provision of GLs.

“When we tried to understand some of the people, or maybe this is a culture to some Filipinos— when people are given cash, it is not always used for its intended purpose. Sometimes they have bills to settle, and whatever remains is what they use for their needs,” Morata explained.

Previously, AICS relied heavily on cash assistance, with amounts determined through social worker assessments. However, some cash aid was diverted to expenses unrelated to the intended crisis intervention.

The use of guarantee letters ensures that assistance is spent strictly for its approved purpose.

The DSWD has expanded its partnerships with private hospitals, therapy centers, implant providers, pharmacies offering specialized medicines, supermarkets, and transportation companies.

“There is no longer any reason for a Filipino to come to us saying the needed service is not available and then ask for cash. That

is why we are pushing for the use of guarantee letters,” Morata said.

To qualify, applicants must have a triggering crisis circumstance and must coordinate with the DSWDCIP office for assessment, including cases involving hospitalization and other critical medical procedures.

Patients are not required to appear personally, as relatives may submit documents on their behalf.

The maximum amount covered by a guarantee letter is up to P150,000, while cases assessed as grave by social workers may be granted higher assistance depending on the client’s situation and needs.

The AICS program, including the issuance of GLs, is open to individuals experiencing crisis regardless of income level.

Morata also assured the public that the issuance of guarantee letters is insulated from political influence.

“Patronage politics usually involves direct giving with photo opportunities. To my knowledge, we have not experienced that,” he said.

Social Welfare Secretary Rex Gatchalian has ordered the strict enforcement of non-partisanship during offsite cash payouts.

Only social workers and authorized personnel are allowed during operations, and the presence of politicians results in the cancellation or postponement of payouts.

“There are instances when we initially coordinate with local governments and ask officials not to attend. It is very clear to us that only DSWD personnel should be present during payouts,” Morata said.

Political tarpaulins, signage, and names are also prohibited near cash payout and guarantee letter distribution sites.

New Maifip guidelines out in February

THE Department of Health (DOH) said the new guidelines for the Medical Assistance for Indigent and Financially Incapacitated Patients (Maifip) will be released in February.

“Nakabase ang guidelines sa mahigpit na utos ng Pangulong Marcos na bawal na ang mga guarantee letters mula sa mga elected official para bayaran ang bill ng pasyente sa mga ospital [The guidelines will be based on the directive of President Marcos that guarantee letters from

elected officials are no longer needed to foot the bill of patients in hospitals],” the DOH said in a statement.

Under the new guidelines, the benefit coverage would be expanded to ambulatory care, ambulatory surgical clinics, eye centers, ophthalmology services, dental services, free-standing dialysis clinics, and Food and Drug Administration-approved medicines.

It will also include the 100-percent inclusion coverage of doctors’ professional fees in

line with DOH guidelines.

From P41 billion under the 2025 General Appropriations Act (GAA), the Maifip increased this year to P51.6 billion, which will serve as basis for the new guidelines set to be released by DOH before the end of next month.

Malacañang defended the hike in Maifip allocation under the 2026 GAA, saying the fund would go directly to local governments and hospitals, with the DOH as the lead implementer.

Claudeth Mocon-Ciriaco and PNA

www.businessmirror.com.ph

Continued from A4 Customs. . .

been filed, no facts have been presented, and no clear basis exists to justify such a grave proceeding under the stricter impeachment rules now in place.

“There is no basis, to say the least, for the impeachment of the President. And until such an impeachment complaint is filed and on what basis, then we can take a stand on the matter,” Acidre said.

“As a third-person observer, no, I don’t think there’s any reason, unlike the previous impeachment of the vice president, where it was preceded by a series of investigations such that at a certain point, it became clear to us that it was the logical and principal consequence of all the investigations that we’ve done,” Acidre added.

On Friday, Deputy Speaker Ron-

aldo Puno, likewise, rejected any move to impeach President Marcos, saying party leaders see no constitutional or factual grounds to support such an action.

Adiong echoed the sentiment, describing the impeachment talk as vague and lacking any identifiable proponent or specific allegation that could rise to the level of an impeachable offense.

“This is really just a rumor. It has circulated not only in mainstream media but also on social media,” Adiong said.

Adiong said no individual or group has come forward to declare an intention to file an impeachment complaint against the president or to specify the grounds for doing so.

Asked whether such an effort could even muster the required numbers in the House, Acidre acknowledged that the numbers alone would pose a major hurdle. Jovee Marie N. dela Cruz

Farmers hit delay in land title distribution

HE Don Carlos Bukidnon

TUnited Farmers Association, Inc. (DCbufai) has expressed frustration over the alleged prolonged delay in the issuance of Certificates of Land Ownership Award (Cloass) to its members.

The criticism came even as the Department of Agrarian Reform (DAR) reported distributing more than 10,000 land titles in the Caraga Region in December 2025.

In a statement, DCbufai said the continuous delay has left hundreds of smallholder farmers in Don Carlos “in a state of uncertainty, undermining their productivity and making them vulnerable to land-grabbing and displacement.”

The affected farmers are claiming 109 hectares of land formerly part of Bukidnon Farms Inc. (BFI), a property turned over to the

government for agrarian reform in 1986.

“It is disheartening to see thousands of Cloas issued elsewhere while we continue to wait for decades for our Cloas,” Jovencio Destor, president of DCbufai said in a statement.

“Our members have complied with requirements and participated in the [agrarian reform] process. The slow pace of issuance deprives us of the stability we need to improve our livelihoods,” Destor said.

DCbufai is calling on DAR Region X to immediately fast-track the processing and distribution of Cloas to qualified farmers in Bukidnon, citing decades-long delays that have denied agrarian reform beneficiaries their land rights.

The demand was reiterated

during a protest rally in July 2025 and dialogue at the DAR Regional Office X in Cagayan de Oro, joined by the Philippine Movement for Climate Justice (PMCJ) and allied organizations, who also urged DAR Central Office and oversight bodies to investigate the “persistent bottlenecks stalling of Comprehensive Agrarian Reform Program [CARP] implementation in Don Carlos.”

“We are not asking for special treatment, only fairness and urgency. Our farmers deserve the same attention and action afforded to other areas,” Destor lamented.

He described the delay in land titling and distribution as “alarming” saying it deepens the farmers’ vulnerability to the climate crisis. Jonathan L. Mayuga

“This operation reinforces the Bureau’s unwavering commitment to enforce customs and anti-drug laws in support of the national government’s campaign to protect public safety,” the BOC said.  “This interception underscores the Bureau’s continued efforts to detect and prevent the entry of illegal drugs through postal and courier channels. We remain firm in safeguarding our borders and protecting the public,” Customs Commissioner Ariel F. Nepomuceno was quoted as saying.

District Collector Yasmin O. Mapa likewise said, “Through strengthened inspection measures and close coordination with partner agencies, BOC-NAIA continues to ensure that mail facilities are not exploited for illegal drug activities.”

Continued from A4 Mayon. . .

vigilance into the Extended Danger Zone (EDZ), and flying any aircraft close to the volcano are prohibited because of the possible hazards that can occur anytime.

Aside from rockfalls or landslides, ballistic fragments, lava flows and lava fountaining, and PDC or uson, moderate-sized explosions and lahars during heavy and prolonged rainfall put people going near Mayon in a life-threatening situation.

Meanwhile, Kanlaon, which straddles Negros Occidental and Negros Oriental, continue to show restiveness, with Phivolcs recording five volcanic earthquakes, and emission of sulfur dioxide. A total of 2,943 tons were emitted by Kanlaon during the past 24 hours also ending midnight Sunday. Still under Alert Level 2 or increased alert, entry into the four-kilometer radius Permanent Danger Zone (PDZ) and flying any aircraft close to the volcano remains prohibited owing to possible sudden steam-driven or phreatic eruptions and precursory magmatic activity.

Phivolcs is also monitoring two other active volcanoes—Taal in Batangas and Bulusan in Sorsogon.

Continued from A4 Wind. . .

Continued from A4

The state weather bureau said minor to moderate impacts from gale-force winds are possible within any of the areas under Wind Signal 2, while minimal to minor impacts from strong winds are possible within any of the areas under Wind Signal 1. Meanwhile, the northeast monsoon and the periphery of Ada, the first severe weather events to affect the country this year, will also bring strong to gale-force gusts over Batanes, Cagayan, Isabela, Quirino, Ilocos Norte, Aurora, Quezon, Bicol Region, Northern Samar, Samar, and Eastern Samar on Sunday until Tuesday.

Pagasa said that a gale warning is in effect over the eastern seaboard of Southern Luzon. Rough seas over the seaboards of Isabela, the northern Aurora, and Camarines Norte; the eastern seaboards of mainland Cagayan and Polillo Islands; the northern seaboards of Catanduanes and Camarines Sur are expected, Pagasa said. The center of Tropical Storm Ada was located at 140 kilometers northeast of Virac, Catanduanes, as of 10 a.m. Sunday.

It is moving northeastward and is packing maximum sustained winds of 75 kilometers per hour near the center and gustiness of up to 90 kmh.

Ada is forecast to move generally northwestward until Monday but will follow a looping track over the sea east of Luzon. The weather bureau said Ada is forecast to remain a tropical storm while moving over the sea east of Luzon, and will weaken into a tropical depression by Tuesday.

It will further weaken into a low-pressure area by Thursday afternoon due to the surge of the northeast monsoon.

PHL hikes floor prices of all tobacco grades

LBy Ada Pelonia @adapelonia

EAF buyers, users and farmers have agreed to raise the floor prices of all types and grades of tobacco by P1 per kilo, according to the National Tobacco Administration (NTA), an attached agency of the Department of Agriculture.

NTA Deputy Administrator Nestor Casela confirmed to the BusinessMirror that the government and stakeholders inked the Memorandum of Agreement (MOA) that raised the floor prices for trading years 2026 and 2027.

commitment to transparency and its dedication to strengthening the tobacco industry.”

Through this process, Sanchez said the NTA would also ensure that the group consultations and deliberations lead to a “clear and well-founded” recommendation for a reasonable increase in the floor prices of tobacco.

Prior to the increase, the floor prices of classes of all types of tobacco for this season were as follows:

Last September, the University of Asia and the Pacific’s Center for Food and Agribusiness said in a report that regulatory pressures, volatile input prices, and a declining workforce affect the local tobacco industry’s evolving landscape.

UA&P Center for Food and Agribusiness (CFA) Senior Agribusiness Specialist Joy Kristel Orzales said rising production costs and volatile input prices, particularly for fertilizers, fuel, and labor, are squeezing farm margins.

The agency held the 2025 Tripartite Consultative Conference last October where they negotiated the tobacco floor prices for the next two trading seasons.

NTA Administrator Belinda Sanchez said the conference was “a demonstration of the agency’s

“Floor price increased by P1 per kilo per grade to all tobacco types, [such as] Virginia, burley, and native tobacco,” Casela told this newspaper.

DA: Reforms to improve execution of farm programs

THE Department of Agriculture (DA) has launched a sweeping reform agenda to fix what it dubbed the “broken economics” of the country’s farm sector.

Speaking at a business forum organized by the Department of Finance (DOF) and Bangko Sentral ng Pilipinas (BSP), Agriculture Secretary Francisco Tiu Laurel Jr. said long-standing problems, including high rural poverty, uneven productivity, and recurring food supply shocks, have persisted despite years of public spending.

“Despite sustained public spending, outcomes on the ground remain fixed,” he was quoted in the statement as saying. “Productivity gains have been uneven, farmer incomes remain low, and food supply shocks continue to affect consumers.”

The DA chief said the challenge does not lie on a lack of government effort but how resources are deployed.

“These challenge points are not of lack of effort, but the need for better targeting, stronger governance, and more coordinated execution.”

As such, the agency noted that it is pivoting “from fragmented and input-focused interventions to a coherent, impact-oriented, and result-driven reform agenda” where it will employ a framework anchored on seven initiatives.

Among these is a “sharper” targeting of public investments toward areas with high poverty incidence, strong production potential, and low productivity.

“Basically, where the returns to interventions are the highest—parang negosyo,” the DA chief said, adding that this would signal a more commercial mind -

set in farm spending. He also wants to address the government’s traditionally ricecentric approach. While rice remains a key staple grain, the DA said it will pursue a more balanced commodity strategy.

The move will expand support for fisheries, sugar, coconut, corn, livestock, and high-value crops to diversify income streams and reduce vulnerability to shocks.

Furthermore, the agency said it is institutionalizing transparency, accountability, and participatory governance across the full project cycle.

“Effective policies [are] not only about what we implement, but how transparently and accountable we do so,” the DA chief said, pointing to open access to program information and structured feedback mechanisms for farmers and fisherfolk.

The agency added that it is strengthening co-investment with local governments through enhanced province-led extension systems and improved data management via updated farmer and fisher registries.

The agri chief announced that the DA Command Center has been completed and will be operationalized next month.

Heavy investments are also flowing into logistics and postharvest infrastructure to address what he called the “missing middle” of the value chain. These include P33 billion for farm-tomarket roads (FMRs), cold storage expansion, agricultural food hubs, deep-water ports, and postharvest facilities.

“This represents a deliberate shift away from the productiononly mindset towards a holistic value chain approach.” Ada Pelonia

For flue-cured Virginia tobacco, which accounts for over half of the total tobacco production area in the country, the floor price per kilo was P97 for Class AA, P96 for A, P95 for B, P93 for C, P85 for D, P84 for E, P75 for F1, P72 for F2, and P61 for R.

For Burley tobacco, the per kilo floor price was P81 for Class A, P78 for B, P69 for C, P58 for D, P57 for E, P49 for F, P39 for R.

The floor prices of the native-

type was P81 for High grade, P70 for Medium 1, P60 for Medium 2, P50 for Low 1, and P38 for Low 2.

Under the law, NTA is authorized to set or fix tobacco floor prices by adopting a tripartite consultative conference every two years.

In the Philippines, tobacco is

the only crop with approved floor prices and continues to be an income stream for growers by providing livelihood and bolstering rural economies.

Around 2.2 million Filipinos are banking on tobacco, including more than 430,000 farmers, farm workers, and their family members.

Climate-related shocks, including unpredictable typhoons and extreme heat, are also affecting leaf yields and quality, according to Orzales.

She added that global supply chain disruptions, such as fluctuating freight costs, port delays, and changing trade policies, further impact exports and raw material sourcing.

House resolution calls for scrutiny of rice tariffication law

By Jovee Marie N. Dela Cruz @joveemarie

AMID the continuing rise in rice prices and growing calls from farmers’ groups and consumer advocates to restore the regulatory and market intervention powers of the National Food Authority (NFA), a lawmaker has filed a measure seeking a comprehensive review of Republic Act (RA) 11203, or the Rice Tariffication Law.

In filing House Resolution 645, House Deputy Minority Leader and Mamamayang Liberal (ML) Party-list Rep. Leila de Lima said there is a need for a “systematic evaluation” of the law’s implementation to determine appropriate policy interventions that would help bring down rice prices and ensure food security.

The resolution seeks to assess proposals to restore certain NFA powers, identify effective safe -

guards against possible abuses, inefficiencies, or market distortions, and ensure transparency and accountability in the agency’s operations.

“The price of rice has continued to rise, negatively impacting the livelihoods of farmers and placing a significant burden on the household budgets of millions of families, particularly those in the most vulnerable sectors of society,” De Lima said. She noted that the market-led approach under the current law, which was intended to promote competition and lower prices, has failed to consistently deliver affordable rice to consumers. Recent price spikes, she said, point to possible market inefficiencies, speculative activity, illegal price manipulation, or weaknesses in the supply chain.

RA 11203, which was enacted in 2019, imposes farmer protection tariffs on rice imports in lieu

of quantitative restrictions with the goal of lowering rice prices, limiting the functions of the NFA primarily to buffer stocking for emergency and disaster relief.

Before the passage of the Rice Tariffication Law, the NFA had broader regulatory and market intervention powers, including direct rice importation, price stabilization through strategic buying and selling, and the setting of price floors and ceilings to protect consumers from excessive prices and farmers from unfairly low farmgate prices.

According to the lawmaker, a strengthened NFA, with effective safeguards, could potentially implement a more proactive price stabilization program by managing supply and influencing market prices; ensure a stable and affordable supply of rice, especially for low-income households; provide a more robust buffer stock that can quickly respond to supply short -

ages and emergencies; support local rice farmers by offering competitive farmgate prices for their produce, thereby incentivizing domestic production; and counteract potential hoarding, profiteering, and cartelistic practices by unscrupulous traders.

“If the noble objectives of the existing law are not being fulfilled and are instead adding to the already heavy burden borne by our farmers and consumers, Congress should not hesitate to amend it and put in place more effective mechanisms to help our people in need,” De Lima said.

She added that the country should not rely solely on importation to lower rice prices, increase farmers’ incomes, and achieve food security. Farmers, she stressed, need protection from abusive traders and sustained government support—from land preparation and planting to harvesting and bringing their produce to market.

Govt sets up data analytics center for local rice sector

THE Department of Agriculture (DA) created a data analytics center for rice which will provide support for policymaking for the sector.

Agriculture Secretary Francisco Tiu Laurel Jr. signed Department Order (DO) 3, which created the Rice Data Analytics Center (RDAC) as the central data hub for ricerelated industry data.

This will further institutionalize, strengthen, and harmonize data governance within the rice sector, the DA said.

“The RDAC is hereby recognized to unify all rice and rice -related data, information and analyses, leading effectively and efficiently to more comprehensive and in-depth solutions for

data-driven decision making,” the order read.

Under the order, the RDAC should perform certain key functions, such as data consolidation and centralization, standardization and verification, centralized processing and advanced data analysis.

Also included are data integration and mirroring, data updating and maintenance, and stakeholder access and capacity building.

With this, the DA said the center will be responsible for all data processed within the center and manage the sharing of secondary data collected from external sources.

“All primary datasets that are officially shared and housed in

the Data Lake will remain under the ownership of the contributing units,” it added. “This implies that the contributing units shall retain responsibility for their datasets, serving their original purpose.”

Furthermore, the RDAC could provide in-depth discussions, upon request, to assist concerned staff in completing the required forms, organizing their data inventory, and facilitating data sharing.

Following the center’s creation, the DA noted that the existing DAC under the Philippine Rice Research Institute (PhilRice) will be converted into and subsumed under the RDAC.

As such, “all powers, functions,

mandates, personnel, and responsibilities previously vested in the DAC henceforth transferred, continued, and expanded under the RDAC.”

While the center would be primarily housed within the PhilRice due to its specialized infrastructure and existing practices, the agency stressed that the RDAC’ s mandate and authority are DAwide.

“The data consolidation and centralization activities of the RDAC for all rice industry-related information shall be supervised by the Office of the Undersecretary for Rice Industry Development, operating through the Office of the Executive Director of the PhilRice.” Ada Pelonia

Canada says China to ease canola tariffs by March in trade thaw

CANADA expects China to cut tariffs on its canola by March 1, which would be a significant thaw in a trade rift that has disrupted crop flows and tested bilateral relations. The move was announced by Canadian Prime Minister Mark Carney during his visit to China on Friday and is part of a deal reached after months of talks to mend ties between the nations. Carney said Beijing will lower tariffs on the product to about 15 percent, from more than 80 percent, as well as suspending anti-discrimination duties on imports of some other farm products including canola meal and lobsters.

In tandem, Canada will allow 49,000 Chinese electric vehicles into its market at a tariff rate of about 6 percent, down from the current rate of 100 percent.

Canola futures in New York jumped as much as 2.6 percent, reaching the highest since early December, before paring much of those gains. Futures of the commodity, also known as rapeseed, are on track for a weekly gain of about 2 percent.

Beijing later confirmed the moves on canola and EVs, with the Chinese Ministry of Commerce saying it will adjust the anti-dumping measures on rapeseed and the anti-discrimination mea-

sures applied to certain Canadian agricultural and aquatic products. The statement didn’t give details of the planned adjustments. The discussion follows a prolonged period of tensions after Canada imposed tariffs on Chinese EVs, steel and aluminum in 2024, prompting Beijing to slap 100 percent duties on Canadian rapeseed oil and meal early last year. Beijing subsequently started an anti-dumping probe into Canadian rapeseed, known locally as canola. The final decision on levies following the investigation has been extended until March 9. Those duties effectively closed the China

market to Canadian canola and its products, freezing a trade valued at C$4.9 billion ($3.5 billion) in 2024. The latest measures to ease the tariffs could pave the way to reopen the market, providing relief to Canadian growers and exporters, who have been under pressure due to ample supplies and limited alternative destinations. China also scoured the globe for other sources of rapeseed. That included booking a flurry of trial cargoes from Australia, following a five-year pause due to phytosanitary issues. “Returning tariff rates

Beyond the lifeline: Can we turn record remittances into sustainable growth?

THE latest data from the Bangko Sentral ng Pilipinas (BSP) confirms a familiar narrative: the Philippine economy remains afloat on a sea of foreign currency. With cash remittances hitting a staggering $32.11 billion from January to November 2025—a 3.2 percent increase from the previous year—the country is on track to shatter records once again. Yet, while these figures offer a veneer of macroeconomic stability, they also mask underlying vulnerabilities and a pressing need to shift our national strategy from mere “survival” to sustainable “growth.” (Read the BusinessMirror story: “11-month remittances expand 3.2% to $32.11 billion,” January 16, 2026).

The record-breaking influx is driven by a confluence of factors, most notably the resilience of our OFWs and a favorable, albeit double-edged, exchange rate. In November 2025, the peso averaged P58.86 to the US dollar. For the families of OFWs, this weak peso is a boon, stretching every dollar sent from Los Angeles or Singapore further in the local market. However, we must acknowledge the irony: the very currency weakness that boosts remittance “sending power” often reflects broader domestic inflationary pressures that necessitate those higher remittances in the first place.

The US remains the primary source of these funds, but the horizon is darkening. The implementation of a 1-percent tax on remittances from the US, effective January 1, 2026, coupled with the looming specter of protectionist tariffs under the Trump administration, presents a significant “hiccup” for our financial lifeline. While experts like Jeremaiah M. Opiniano of the Institute for Migration and Development Issues suggest that other destination countries may compensate for a potential dip in US flows, the increased cost of sending money is a direct tax on the sacrifice of our modern-day heroes. But the most critical takeaway from the latest BSP data is not the volume of the money, but its velocity and destination. As Opiniano rightly points out, we must worry more about the use of remittances than the cost of sending them.

For decades, remittances have been the ultimate safety net, fueling a consumption-driven economy. They pay for tuition, healthcare, and daily groceries. But if these billions continue to be funneled almost exclusively into immediate consumption and debt repayment—the “financial wrath” of the post-Covid era—the Philippines remains trapped in a cycle of migration. We are essentially exporting our best human capital to import liquidity, without building the domestic industrial base necessary to make migration a choice rather than a desperate necessity.

The government and the private sector must do more than just applaud the record-breaking numbers. There must be a concerted effort to channel these inflows into productive investments, such as small and medium enterprises, local agriculture, and financial instruments that offer long-term security for OFW families.

A record-high remittance figure is a testament to the Filipino worker’s world-class talent and enduring commitment to family. However, it is also a reminder of a structural dependence that we have yet to outgrow. As we celebrate the $32 billion milestone, the real measure of success will not be how much more our workers can send in 2026, but how well we use those funds today to ensure that the next generation doesn’t have to leave home to survive. The “lifeline” is stable for now, but we need to begin constructing a bridge to an economy that can support itself.

Weave art into your February

KRISING

NOWING about National Arts Month events more than a week ahead, with this announcement coming out 12 days early, allows audiences to prepare, plan, and weave these cultural highlights into their February schedules seamlessly. Early awareness ensures no one misses out on workshops, festivals, or exhibits that celebrate Filipino creativity.

National Arts Month in the Philippines is an annual February celebration proclaimed by President Corazon Aquino in 1991 via Proclamation No. 683, led by the National Commission for Culture and the Arts (NCCA) to promote arts across disciplines like visual arts, music, dance, literature, cinema, theater, and architecture. It highlights Filipino creativity, heritage, and cultural diversity through nationwide events, workshops, exhibits, and festivals, evolving from a focus on visual/performing arts to include

indigenous forms.

The NCCA, through the Subcommission on the Arts and the Conrado Ladislaw Alcantara Foundation Inc., continues to celebrate Filipino artistry and creativity with National Arts Month 2026 and its overarching theme “Ani ng Sining: Katotohanan at Giting,” underscoring how the arts uphold truth, courage, and collaboration and how they contribute to building livable communities, responsible governance, and a sustainable society.

Preparations are underway, as an-

nounced by NCCA, with grassroots events like “The Colour of Sound” poetry-art-music series starting February 1. CCP Pasinaya 2026 Open House, the country’s largest multiarts festival, runs from February 7 to 8, launching NAM with performances and interactive activities. Art Fair Philippines opens February 6 to 8 at Circuit Corporate Center, showcasing contemporary works.   Bikol Arts Festival (NAM:BAF) in Legazpi City spans the month, featuring crafts, performances, and regional culture. Communities can submit events to the official NAM calendar via nccanamcalendar@gmail. com for nationwide inclusion. Past celebrations inspire activities like gallery visits, art creation, and artist support, fostering cultural appreciation.

Don’t fail to catch CCP Pasinaya 2026 from February 7 to 8 in your area, featuring Palabas, Palihan, Palitan, Paseo Museo, Pamilihan, and Paligsahan across CCP venues, partner galleries and museums, other NCR spots like Circuit Makati, Aliw Theater, Rizal Park-Luneta, and Metropolitan Theater, plus regional locations in Iloilo City, Province of

The blame game: Why our rush to judgment hinders real progress

T. Anthony

ILITO GAGNI

N the aftermath of significant events—whether devastating natural and man-made disasters or high-stakes fiscal policy decisions—public discourse in the Philippines often follows a familiar and urgent trajectory: the rush to assign blame.

This pattern of pointing fingers has emerged forcefully in two recent high-profile cases that have captured national attention: the tragic trash slide that struck Binaliw village in Cebu City, and the controversial transfer of P60 billion in Philippine Health Insurance Corporation (PhilHealth) funds, where now-Executive Secretary Ralph Recto became a focal point of public scrutiny.

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In both instances, the drive to identify responsible parties has surged forward with remarkable speed—often outpacing efforts to provide relief to those affected, clarify the full context of decisions made, or establish a complete understanding of the factors that led to the situations at hand.

The tendency to prioritize blame over clarity and action raises critical questions about how the public, me-

dia, and policymakers approach accountability in moments of crisis, and whether this focus serves or undermines the broader goals of supporting communities, ensuring transparency, and preventing future problems.

The trash slide in Cebu City’s Binaliw village has seen blame spread rapidly among government agencies, landfill operators, and other stakeholders—outpacing information about relief efforts for victims.

While it is natural to seek accountability in the wake of tragedy, rushing to point fingers is futile and counterproductive. Without scientific or expert findings on the incident’s root causes—including the impact of prior earthquakes, relentless rains, and landfill management practices—identifying a single responsible party remains irresponsible.

The immediate focus must be on

supporting affected communities and conducting thorough investigations to prevent future disasters. Similarly, blame was directed at Ralph Recto over the transfer of P60 billion in PhilHealth funds. However, the Supreme Court ruled that Recto bears no criminal liability, as he acted on the basis of a special provision in the General Appropriations Act passed by Congress. The ruling underscores the importance of distinguishing between public calls for accountability and conclusions drawn from legal and procedural reviews— where actions taken in accordance with established legislative provisions do not equate to wrongdoing.

In both cases, the urge to assign blame can overshadow critical facts and necessary action. While accountability is essential in governance and disaster management, it must be grounded in evidence, expert analysis, and due process to be meaningful Stop pointing fingers at faceless entities when lives hang in the balance. Stop assigning fault to individuals when communities need support. Stop letting the rush to name a culprit drown out the cry for solutions. We waste precious time looking for someone to punish when we could be building safer landfills.

Also, we drain energy arguing over who to blame when we could be strengthening waste management systems across the country. We let

Capiz, and Tagum City. “Paglikha sa Kinabukasan” is Pasinaya’s theme this year.   Pre-register now at  https://bit. ly/pasinaya2026 to enjoy this SeeAll-You-Can, Workshop-All-YouCan, Network-All-You-Can, PayWhat-You-Can event. This year, participants can participate in six competitions to test their skills and creativity in various arts fields: Gayá-Gayákan (Closet Cosplay Competition), Paramihan (TikTok Competition), Paunahan (Paseo Museo Competition), Pitik-Larawan (Photo Competition), Sinag ng Pasinaya (Mobile Game Competition), and Vertical Shorts (Short Film Competition). National Arts Month 2026 offers Filipinos a rare chance to immerse themselves in the country’s rich artistic life, from intimate community events to massive multi-arts festivals. Taking part in these celebrations is not only a way to enjoy world-class Filipino creativity but also a concrete act of supporting the artists, cultural workers, and institutions that help shape a more truthful, courageous, and hopeful future for everyone.

anger cloud our judgment when we could be ensuring no other village faces the horror Binaliw endured— even if, as some say, nature itself played a part in this tragedy. We cling to accusations against Secretary Recto when the highest court in our land has already ruled. We repeat claims of wrongdoing when the law has spoken its final word. We keep the fires of blame burning when we could be focusing on fixing the gaps in our public health funding framework. Blame does not clear the rubble from Binaliw’s streets. Blame does not provide shelter for families who lost their homes. Blame does not make our waste sites more secure against earthquakes and rain. Blame does not strengthen PhilHealth’s capacity to serve our people. Blame does not ensure public funds are used wisely in the future. Blame does not build the systems we need to protect our nation’s health. The unhealthy obsession with picking someone to carry the weight of every crisis only divides us, distracts us, and delays the action our country so desperately needs. Nature may have tested our resilience in Cebu, and our laws may have clarified the path in the PhilHealth case—but it is our choice whether to let blame keep us stuck, or to turn our attention to the work that truly matters.

China’s new tech stock boom leaves its economic malaise behind

By Jeanny Yu

NEARLY a year after DeepSeek’s AI breakthrough rattled global markets, China is entering 2026 with a fresh wave of technological advances that are powering a stock rally, even as its economy remains fragile.

Thanks to fresh progress in sectors from commercial rockets to robotics and flying cars, Chinese tech shares have begun the new year with a bang. An onshore Nasdaq-like tech gauge has shot up almost 13 percent so far this month, while a measure of Hong Kong-listed Chinese tech firms has climbed nearly 6 percent. Both have outperformed the Nasdaq 100. Enthusiasm about homegrown technologies has been the single biggest driver of China’s equities bull run since April, even as the world’s second-largest economy remained mired in a housing slump and anemic consumption. The momentum may gain further support in the coming months as DeepSeek rolls out a new AI model and China unveils a fiveyear economic blueprint prioritizing technological self-reliance.

“The stock market is telling us that what China is doing in technology sector is going to be very exciting going forward,” Mark Mobius, managing director of Mobius Emerging Opportunities Fund, told Bloomberg TV on Friday. “You must remember China’s goal now is to overtake the US in technology, in high-level chips, in all kinds of AI. So the money is going in that direction.”

Since DeepSeek shocked global markets with its cheap and equally well-performing AI models on January 27 last year, fellow Chinese firms have accelerated efforts to develop their own versions. Adoption of generative AI has also surged among the country’s Internet giants from Alibaba Group Holding Ltd. to Tencent Holdings Ltd. Elsewhere, Chinese robots have competed in marathons, sparred in boxing matches and performed folk dance routines. In manufacturing, large language models are being embedded into advanced equipment, such as flying taxis and precision machine tools. The developments are recasting China in investors’ eyes from a low-cost manufacturing base into a credible challenger to US tech leadership, just as global capital hunts for the next growth engine. In a basket of 33 Chinese AI stocks tracked by Jefferies Financial Group Inc., the rally in the past year expanded their combined market value by about $732 billion, the brokerage said in a January 13 report. Jefferies said it sees further upside because China’s AI’s market capitalization represents only 6.5 percent

Gagni. . .

from A10

of the US’s.

The exuberance is spilling beyond the secondary market. A flurry of recent listing debuts of Chinese AI-related companies posted blockbuster gains, emboldening their peers to tap public markets. Among those in the pipeline are Xpeng’s flying-car unit, rocket maker LandSpace Technology and BrainCo, a potential rival to Neuralink Corp.

“Looking ahead, we anticipate that the next major breakthrough in AI will occur at the application layer,” said Joanna Shen, JPMorgan Asset Management’s emerging market and Asia Pacific equities investment specialist. “China, in particular, is well-positioned to lead this evolution, given its vast array of user cases across wearables, edge devices, and internet platforms.”

To be sure, the stellar rally has triggered concerns about stretched valuations. Cambricon Technologies Corp., an AI chipmaker that competes with Nvidia Corp., is trading about 120 times to forward earnings. A gauge tracking Chinese robots is trading at more than 40 times forward earnings, higher than the Nasdaq 100’s 25 times.

Beijing’s latest decision to tighten margin financing was also a sign of authorities’ growing unease with speculative excess, especially in pockets of the technology sector.

That said, some investors remain optimistic about the industry’s prospects due to advantages such as a low-cost base and strong state backing and planning. “China’s lowcost model for AI may well pay off faster” than its US peers, Gavekal Research’s technology analyst Tilly Zhang wrote in a note dated January 16. “The ‘DeepSeek moment’ encouraged China to focus on a strategy of cheap, good-enough models.”

Expected within this quarter, the release of DeepSeek’s R2 model may provide the next catalyst. The new model, which will likely boast leading-edge performance at an ultra-low cost, “has the potential to disrupt the sector again, underscoring China’s position as the main rival to US AI supremacy,” Bloomberg Intelligence wrote in a recent note.

Details of China’s new five-year plan due for release in March, which places great emphasis on technological self-sufficiency, may offer stock bulls another reason to buy.  With assistance from Abhishek Vishnoi/Bloomberg

It is a cruel paradox—we blame individuals for crises rooted in broken systems, while allowing corruption to hollow out the very structures that could prevent these disasters from happening again. In our zeal to find someone to blame, we risk becoming the very thing we condemn—leaders of a conversation that goes nowhere, while our nation waits for action that never comes, and the shadow of failure grows longer with each passing day we choose blame over reform.

Gaza

DBeyond the numbers in tax collections and targets

IDEBIT CREDIT

Part one

N tax administration, numbers are never just numbers. Actual tax collections relative to officially approved targets carry consequences far beyond year-end press releases. They determine whether senior tax and customs officials keep or lose their posts, whether incentives and penalties under the Attrition Law are triggered, whether the National Expenditure Program (NEP) submitted to Congress is credible, and whether multilateral institutions see the Philippines as a country that can manage its public finances with discipline and transparency.

The importance of distinguishing between actual and target tax collections was once again highlighted by the Bureau of Internal Revenue’s (BIR) 2025 performance. Based on preliminary data released in January 2026, the BIR collected P3.11 trillion in 2025, falling P127 billion or 3.9 percent short of its P3.237 trillion collection target. On the surface, this appears to be another instance of underperformance—an outcome that, in past administrations, would almost automatically trigger questions of leadership failure.

This is why the recurring debates over whether the Bureau of Internal Revenue (BIR) or the Bureau of Customs (BOC) “met,” “missed,” or “exceeded” its tax collection targets are not academic exercises. They go to the heart of governance.

The Development Budget Coordination Committee (DBCC) sets annual tax collection targets based on expected legislative measures, administrative capacity, and macroeconomic assumptions. These economic indicators include, among others, the Gross Domestic Product

growth, inflation rate, and foreign exchange rate.

The DBCC is composed of the Secretary of Finance, Secretary of Budget and Management, Director-General of the Department of Economy, Planning, and Development, Governor of the Bangko Sentral ng Pilipinas, and supported by their technical teams— not by the revenue agencies that are tasked to meet them. In practice, the BIR and the Bureau of Customs (BOC) play a limited, technical role in this process. These offices provide historical collection data, compliance trends, and operational inputs, but they do not determine the final targets embedded in the NEP and approved by the DBCC. This institutional separation is often overlooked in public debates that automatically attribute ambitious targets—or subsequent shortfalls—to revenue agency leadership. From my own experience as BIR Commissioner from 2009 to 2010, revenue targets were essentially handed down to the tax-collecting agency as part of the broader fiscal framework.

It is to be noted that the collection targets of the BIR and BOC are not static and are revised during the year as economic forecasts change, and as expected tax measures fail to materialize. By year-end, the tax collection goals would have changed from their original amounts. These

adjusted targets, not the original aspirational amounts, are then referred to in determining whether the BIR and BOC exceeded or were short in their collection performance. This fact, however, is often lost in public discourse.

In 2024, for example, early media accounts late in the year suggested that the BIR might fall short of its target. By January 2025, the narrative shifted, with the BIR announcing that it had exceeded its collection goal. The apparent contradiction stemmed from mid-year downward revisions by the DBCC, which changed the benchmark against which performance was measured. Is the resetting of original tax targets appropriate? What are the repercussions of this rolling fiscal target adjustment?

To be continued

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

Trump’s Greenland pressure blitz reopens tariff wounds in Europe

By Josh Wingrove

Pever final.

Trump announced a 10 percent tariff, rising to 25 percent in June, on eight European nations, including Denmark, for saying they would undertake token Nato military exercises in Greenland in response to US saber-rattling.

While the tariffs aren’t certain to take effect, the threat was a brazen escalation and insult to close US allies, trampling over the US-EU trade deal reached only six months earlier at Trump’s Turnberry resort in Scotland.

Trump’s targets in Europe pushed back quickly. UK Prime Minister Keir Starmer blasted his tariff threat as “completely wrong,” France’s Emmanuel Macron called it “unacceptable” and Swedish Prime Minister Ulf Kristersson said his country wouldn’t be “blackmailed.”

A senior European lawmaker called for a halt to a US-EU trade truce sealed with Trump in July, and EU national ambassadors will meet Sunday to discuss the bloc’s next steps, according to a person familiar with the matter.

The tariff missive also underscored several emerging lessons of the second Trump administration: Nothing is out of reach of negotiations, alliances are met with suspicion, and power and leverage are king.

“Those who thought the second year was going to be a year of tariff stability should recognize this is looking a lot like the first year,” said Josh Lipsky, chair of international

‘Board of Peace’ takes shape as

By Dan Williams & Ethan Bronner

ONALD TRUMP’S so-called Board of Peace for Gaza is beginning to take shape with Argentina’s Javier Milei and Canada’s Mark Carney set to become founding members, even as Israel voiced rare objections to parts of the US president’s plan to build on the fragile ceasefire in the region.  The Argentine leader on Saturday thanked Trump for the invitation, saying it would be an honor to join. Turkey’s President Recep Tayyip Erdogan was also invited to be a founding member of the council, the head of his communications office said on X, while AFP reported that Egyptian President Abdel-Fattah El-Sisi

was mulling whether to take part. They would be joined by Carney, who has accepted the offer to participate, a senior Canadian official has said.

Brazil’s President Luiz Inacio Lula da Silva has also been invited to be a council member, a Brazilian official said. But on Saturday evening, Prime Minister Benjamin Netanyahu criticized plans for a committee underneath the Board of Peace, saying it hadn’t been coordinated with Israel. “The announcement regarding the composition of the Gaza Executive Board, which is subordinate to the Board of Peace, was not coordinated with Israel and runs contrary to its policy,” according to a statement from Netanyahu’s office. “The Prime Minis -

economics at the Atlantic Council. “There will be united pushback. One, because of how unified Europe is on the Greenland issue, and two, because of how much of a political price Europe already paid for the Turnberry agreement.”

Trump’s tariffs will apply to Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands and Finland. It came as protests were held across Denmark staunchly opposing any US control of Greenland.

Remarkably, Trump made his tariff pronouncement after those countries—some of the US’s longeststanding allies and all Nato members—said they were sending only a few dozen troops to Greenland to participate in a joint exercise.

“This isn’t Iran we’re talking about, it’s Denmark,” Scott Lincicome, a trade analyst at the libertarian Cato Institute, said, adding that the move will anger “a lot of folks.”

Republican Senator Thom Tillis and Democrat Jeanne Shaheen issued a joint statement urging the Trump administration to “turn off the threats and turn on diplomacy.”

The co-chairs of a Senate Nato group wrote, “Continuing down this path is bad for America, bad for American businesses and bad for America’s allies.”

Whether Trump would ever seriously weigh invading Greenland is not clear, though he has consistently left open the possibility. And one of his top officials, speaking Friday evening on Fox News, accused Europe

of freeloading off the US and said Greenland’s fate should reflect who has the power to protect it—even though, as part of Denmark, any attack on it by an adversary could trigger the alliance’s mutual defense clause, known as Article 5, and a potential US response.

“Denmark is a tiny country with a tiny economy and a tiny military. They cannot defend Greenland,” Deputy Chief of Staff Stephen Miller told the network. “To control a territory you have to be able to defend a territory, improve a territory, inhabit a territory. Denmark has failed at every single one of these tests.”

Because it’s part of Denmark, it’s also “in principle is covered by the mutual solidarity clause in Article 42.7 of the Treaty on European Union,” European Commission spokeswoman Anita Hipper said this week.

Instead, Nato members are now facing economic pressure by a member of their bloc to support the forceful seizure, an extraordinary development even by the standards of Trump’s avowed transactionalism.

Changing calculations

UP to now, European leaders have largely tried to placate Trump by cutting deals and not confronting him, particularly as they work to maintain US military and intelligence support for Ukraine to fend off Russian aggression.

But a move on Greenland might change the EU’s calculations.

Allies had earlier concluded “it was better to placate Trump and move on than it was to escalate, and if you did that, you could give your companies and investors some certainty,” Lincicome said. “It’s just clearly the case that that’s just wrong. The only

Israel raises concern

ter has instructed the Foreign Affairs Minister to contact the US Secretary of State on this matter.”

On Friday, the White House announced a first executive panel that would include Secretary of State Marco Rubio, Middle East envoy Steve Witkoff, Trump’s son-in-law Jared Kushner and former UK Prime Minister Tony Blair before the formation of the overall board. It also appointed a second executive committee, which is expected to do the bulk of the work in remaking Gaza and includes the Turkish foreign minister and a diplomat from Qatar.

The second panel is the one objected to by Netanyahu, who considers those countries as too close to Hamas and unlikely to remake the coastal strip as

Israel wants. It’s a rare open disagreement with Trump from the Israeli leader, who has consistently sought to portray his relationship with the US president as one of unity and full coordination.

In the invitation shared by Milei, Trump wrote that the effort “will bring together a distinguished group of nations ready to shoulder the noble responsibility of building LASTING PEACE, an Honor reserved for those prepared to lead by example, and brilliantly invest in a secure and prosperous future for generations to come.” The partners are set to convene “in the near future,” he added.

Trump is trying to deliver on his 20-point plan for a sweeping and potentially decades-long transformation of Gaza, which has been largely destroyed

over two years of war between Israel and Hamas. He announced the formation of the board on Thursday on social media, but didn’t say who was on it. “I can say with certainty that it is the Greatest and Most Prestigious Board ever assembled at any time, any place,” he said at the time.

As Hamas still retains control of almost half of Gaza and refuses to disarm, the prospect of a durable and prosperous peace is uncertain. The Iran-backed group is still to return the remains of the last hostage taken during the October 2023 attacks that triggered the conflict, a critical part of the first phase of the Trump proposal.

Despite Israeli misgivings about the sequencing, the Trump administration this week announced the launch of the

government so far that has seemed to have gotten Trump to back down is China and they did that via rather aggressive retaliatory actions.”

The Greenland-related tariffs may not take effect—Trump may seek to impose them under a law that the Supreme Court could soon rule on, potentially curtailing authorities Trump has used so far to quickly enact levies on friends and foes alike.

Both Lipsky and Lincicome said that they think it’s unlikely, with the Supreme Court case and other factors, that the tariffs actually kick in February 1.

“Not impossible, but low probability,” Lipsky said. But it also isn’t clear what Europe might bargain away to win a delay, as has been the case in other tariff negotiations. “This is different than a traditional threat.”

Trump’s threat drew criticism from retiring Republican Representative Don Bacon, who said Congress should claw back tariff powers that Trump has consolidated and predicted Trump’s impeachment were he to invade.

“I feel like it’s incumbent on folks like me to speak up and say that these threats and bullying of an ally are wrong,” Bacon told CNN. “And just on the weird chance that he’s serious about invading Greenland, I want to let him know that it would probably be the end of his presidency. Most Republicans know this is a moral wrong and we would stand up against it.”

Ron Wyden, the top Democrat on the Senate Finance Committee, called Trump’s latest threat a “pointless imperial fantasy” and called on other lawmakers to disavow it. Senate Minority Leader Chuck Schumer said Democrats will introduce legislation aimed at blocking Trump from imposing the levies. Bloomberg

second phase, including the formation of a 15-member technocrat government to replace Hamas rule in Gaza. At the same time, the White House sent out invitations to prospective Board of Peace constituents. The board’s chief executive officer, Bulgarian diplomat Nickolay Mladenov, was earlier tapped for the role.  An International Stabilization Force, made up of soldiers from different nations that’s also part of the Trump plan, is slated to follow at a later date. For now, it’s unclear which countries might contribute personnel and on what terms. The US will lead from the rear, having announced that it won’t put boots on the ground in Gaza. With assistance from Ugur Yilmaz, Valentine Baldassari, Angela Cullen and Jonathan Gilbert/Bloomberg

Monday, January 19, 2026

2nd Front

BusinessMirror

PHL AIMS TO LURE IN MORE CLEAN ENERGY PLAYERS VIA PROGRAM

By Lenie Lectura @llectura

THE Philippines is gearing up to become the most attractive emerging market for renewable energy (RE) investments with its 10-year green energy auction (GEA) program.

GEA is the Department of Energy’s (DOE) competitive auction program aimed to boost RE capacity to 35 percent in the country’s power mix by 2030 and 50 percent by 2040, a firm and non-negotiable target, according to DOE Secretary Sharon Garin.

The GEA programs in the pipeline are GEA for Mindanao, GEA for rooftop solar for Visayas and Mindanao, GEA-5 offshore wind, GEA for infrastructure, Special GEA for waste-to-energy (WTE) projects, GEA for agrovoltaics, GEA 4.5, and GEA 5. These were presented during last week’s economic forum.

The DOE plans an exclusive GEA for integrated solar with energy storage systems (IRESS) exclusive for Mindanao in the second quarter this year, with scheduled delivery date in the first quarter of 2027.

Similar auctions for rooftop solar for Visayas and Mindanao are also scheduled in the second quarter this year. The delivery date is also set in the first quar-

Budget has ‘assured pork,’ says groups

DESPITE a history of persistent controversy, nonprofit groups said the nation’s legislators remain deeply enamored with “pork barrel politics.”

The Philippine national budget for 2026, totaling P6.793 trillion in programmed appropriations, is being characterized as “pork-laden, clientelistic, and anti-developmental” by fiscal watchdogs, according to a civil society organization.

“Despite government claims of prioritizing sectors like education [P1.34 trillion] and health [P448.125 billion], a deeper analysis reveals P319 billion in ‘assured pork’ embedded within agency budgets,” said Social Watch Philippines co-convenor Maria Victoria Raquiza on Friday in a forum on the national budget.

The forum was organized by the Freedom from Debt Coalition (FDC), SANLAKAS, Philippine Alliance of Human Rights Advocates, Philippine Movement for Climate Justice (PMCJ), in partnership with Teachers Dignity Coalition, Workers Challenge, and various groups.

According to Social Watch Philippines, the 2026 budget contains several categories of “pork” that bypass traditional scrutiny or grant excessive executive discretion:

Although they are noted as duplicating existing programs, Raquiza said the Department of Public Works and Highways (DPWH) saw a P81.94-billion increase for its Basic Infrastructure Program (BIP) and Sustainable Infrastructure Projects Alleviating Gaps (SIPAG).

She said there were also bicameral insertions in the General Appropriations Act 2026 as legislators allotted P8.9 billion to the Department of Agriculture (DA) for its farm-to-market roads (FMRs). According to Raquiza, this was inserted during the Bicameral Conference Committee, effectively avoiding public scrutiny during House and Senate hearings.

President Marcos will have direct discretion in the P15.33-billion fund in Disaster Rehabilitation See “Budget,” A2

ter of 2027.

Moreover, the DOE is planning two GEAs, with delivery commencement dates in the second and third quarters next year. The GEA for infrastructure involves rooftop solar for socialized housing and the irrigation canals of the National Irrigation Administration. The auction will take place within the second quarter and third quarter.

There will also be a GEA for agrovoltaics, or the co-location of solar photovoltaic (PV) systems and agricultural production on the same land, to be conducted in the third quarter.

A special GEA for WTE projects will take place in the second quarter this year, the DOE added. GEA 4.5, meanwhile, covers floating solar and onshore wind technologies. It will be conducted in the third quarter this year.

The agency will also issue supplemental terms of reference within the month for GEA 5 involving offshore wind (OSW).

The auction will take place in the third quarter, with delivery period slated for 2026 to 2030.

The year 2025 has been marked by two green energy auctions which secured over 17,000 megawatts (MW) of renewable energy (RE) capacity.

Of which, pump-storage hydropower (PSH) took center stage

Think tank: ₧200 wage hike to hurt low-skilled workers

By Justine Xyrah Garcia

AP200

ACROSS-THE-BOARD minimum wage hike could trigger double-digit job losses and reduced working hours, particularly for low-skilled and youth workers, the House of Representatives’ Congressional Policy and Budget Research Department (CPBRD) said.

In its new discussion paper, CPBRD said the impact would stem from how firms typically absorb higher labor costs, with employers more likely to slow hiring, reduce non-regular positions, or compress hours for workers clustered near the wage floor.

CPBRD estimated that scaling recent wage adjustments to a P200 uniform increase may translate to double-digit employment losses and 4 to 17 fewer work hours per week for the most exposed groups.

“The findings already show that even modest minimum-wage hikes

produce adverse effects through measurable hour reductions and employment contraction, especially for low-skilled young and women workers, despite modest increases in daily pay. A uniform P200 increase may therefore magnify these trade-offs far beyond historical experience,” it noted.

Historical wage adjustments between 2016 and 2019 show how labor markets respond to smaller minimum wage hikes.

During this period, pay rose by 2 to 6 percent for most affected workers but triggered quantity-side ad-

justments.

Short-term workers absorbed most of the hours adjustments, losing 0.9 to 1.1 hours per week, while low-skilled short-term workers posted 2.4 to 4.3 fewer hours— roughly half a workday.

CPBRD also found modest employment declines among some short-term cohorts, consistent with firms reducing non-regular positions before cutting regular jobs.

Among low-skilled youth, employment contracted by 7 to 11.3 percent, accompanied by smaller hours reductions, reflecting weaker hiring demand for inexperienced workers entering the labor market.

In the services sector, where micro, small, and medium enterprises (MSMEs) dominate, low-skilled workers recorded 8.6 to 10.8 percent job losses.

Effects on women appeared along the wage and hours margins rather than employment.

While overall female employment remained stable, low-skilled women experienced negative daily pay outcomes and small hours reductions, indicating wage compression rather than separation.

The CPBRD cautioned that a uniform P200 increase may “widen dis -

parities” across the labor market. It noted that a P200 hike would be 4 to 13 times larger than typical adjustments granted in regions such as Region 9 and the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), undermining the logic of the existing regional wage-setting framework.

“While formal and higher-productivity workers are more likely to benefit from full wage passthrough, the informal and lowskilled workers may see muted or uneven adjustments as employers struggle to comply. The existence of strong heterogeneity effects...indicates that the most vulnerable segments are precisely those most at risk of being left behind or further marginalized when compliance and productivity gaps persist,” the CPBRD added.

The study urged lawmakers to reconsider the view that higher minimum wages can lift workers out of poverty, noting that the minimum wage is designed as a protective floor, not a living-wage instrument.

“It should therefore be treated as a protective floor, not an instrument for poverty reduction and enhancing welfare. Broader policies,

Prices of NCR building materials post slower growth in 2025—PSA

By Bless Aubrey Ogerio

PRICES of construction materials in Metro Manila rose at a slower pace in 2025 as most building products posted declines, data from the Philippine Statistics Authority (PSA) showed.

The Construction Materials Wholesale Price Index’s (CMWPI) annual average growth rate in the National Capital Region (NCR) eased to 0.1 percent in 2025, slower than the 0.6 percent recorded a year earlier.

The deceleration came as 12 of the 20 major commodity groups posted lower annual average rates during the year, outweighing modest gains in a handful of inputs.

Structural steel led the downtrend, with its index registering a 2-percent annual average decline in 2025, a reversal of the 9-percent increase in 2024. The drop in steel prices was among the biggest contributors to the overall slowdown in construction cost growth during the year.

Only five commodity groups recorded higher annual average rates in 2025 compared with their 2024 levels, while the rest either matched their previous year’s rates or posted zero growth, indicating broadly subdued price movements across construction inputs.

Despite the softer full-year trend, the PSA noted that the year-on-year growth of the CMWPI in the NCR stood at 0.8 percent in December 2025, faster than the 0.2 percent recorded in December 2024.

Month-on-month comparisons showed mixed movements across commodity groups, reflecting uneven price adjustments toward the end of the year. Faster annual increases in December were

observed in sand and gravel, which rose by 0.2 percent from 0.1 percent in November, and painting works, which accelerated to 0.6 percent from 0.4 percent.

Plywood also returned to positive territory, posting a 0.3-percent annual increase in December after a 0.1-percent decline the previous month.

At the same time, annual declines in structural steel and metal products persisted but slowed, with steel easing to a 3-percent drop in December from 3.2

Editor: Jennifer A. Ng

B1 Monday, January 19, 2026

REIT route seem easier vs IPO—investment analyst

By VG Cabuag @villygc

THE Investment and Capital Corp. of the Philippines believes it would be easier to convince companies to go public through the real estate investment trust (REIT) route, rather than through regular initial public offering at the Philippine Stock Exchange.

be possible for the infra-themed, with the new REIT rules issued by the government.

“The new REIT rules, they’re more geared towards you know they talk about toll roads, they talk about fiber optic networks, data centers, (cellular) towers,” Ocampo added.

The Philippine Stock Exchange Inc. earlier said there may be four IPOs this year. Ocampo said they are talking to two of the four firms that will possibly list this year.

the IPOs may happen during the second half of the year.

“The (low) interest rates is what should pick the market up. If market comes down, around low 6,000 good days, (trading) can be start picking up,” he said.

For the delisting of firms, Ocampo said there may two more that will take their company private this year, one of which was due to fall in minimum public ownership.

THE Energy Regulatory Commission (ERC) has given the green light to the Manila Electric Co. (Meralco) to pursue an emergency capital expenditure (capex) project in Batangas for P65.37 million.

“The subject emergency capex project of Meralco is hereby approved subject to optimization during the reset process for the subsequent regulatory period,” the 26-page decision of the commission stated.

The amendments of the Securities and Exchange Commission to the rules governing REITs, if paired with an easing interestrate environment, could prompt a fresh wave of property listings.

“The commission recognizes the necessity of the project to enable Meralco to maintain safe, reliable, secure, and efficient service to its customers. However, the commission reminds Meralco to implement appropriate measures to address observations arising from its maintenance activities,” the ERC said. In approving its application, Meralco was ordered to pay a permit fee worth P490,258.08.

“So, it’s more conducive for new REIT issuance,” Ocampo said.

The ICCP, he said, is talking to infrastructure firms that could

ICCP President Jesus Mariano P. Ocampo said if a company opts for the REIT route, the discussions would only involve dividend yield for the pricing of the shares, whereas a regular IPO entails price earnings and market conditions.

He said, however, market conditions at the moment are still not conducive to IPO, despite the main index increasing to 6,400-point level already.

“I think when first quarter numbers start to come out, it will be reality check for a lot of people,” Ocampo said, adding that

The REIT market expansion started 2020 through 2022, but has already stopped since.

The last was Villar-led Premier Island Power REIT Corp., which went public in December 2022.

Globe to spend $1B for expansion

By Lorenz S. Marasigan @lorenzmarasigan

GLOBE Telecom Inc. is keep -

ing its capital expenditure at around $1 billion this year as it continues expanding its network infrastructure to meet surging data demand, particularly in preparation for Artificial Intelligence (AI)-driven services.

Carl Raymond R. Cruz, the company’s president, said the bulk of the telco’s capex will be allocated to data services, with fiber infra -

Complaints vs delivery allowed in DICT portal

THE Department of Information and Communications Technology (DICT) will soon launch “Oplan Bantay Padala,” a portal that will allow consumers to file complaints against private delivery service operators.

ICT Secretary Henry Rhoel R. Aguda said the portal will handle complaints against “private express and messengerial delivery service,” or “Pemedes,” operators for issues such as delayed deliveries, lost parcels, and other violations.

“With the current setup, complaints are handled internally with limited public visibility into operator performance. [The portal] will open a public-facing online portal that enables consumers to report the performance of ‘Pemedes’ operators to the DICT,” Aguda said. To protect complainant privacy, the system will use anonymized data while providing aggregate statistics on operator performance.

Key features include a real-time dashboard showing the number of complaints filed against each Pemedes operator over selectable periods—monthly, quarterly, or annually—as well as the resolution status of lodged complaints.

Aguda said future enhancements may include trend analysis, complaint categorization, and operator response times. Lorenz S. Marasigan

structure remaining a key priority.

“Most of it will really go to data services; more or less same level, $1 billion cash capex. And we’ll continue expanding the network,” Cruz told reporters. He noted that Globe anticipates a spike in data traffic driven by AI applications, which the telco chief expects could increase consumption by as much as ten times. Fiber infrastructure, Cruz explained, will play a critical role in accommodating the anticipated surge, noting that Filipinos are

typically “early adopters of new technologies.”

“Fiber is important to account for the data traffic. Because when AI booms, the data traffic will really increase by probably tenfold,” he said.

As of end- September, Globe’s mobile data traffic stood at 4,846 petabytes. The figure does not include fixed wireless data usage.

The company has consistently maintained billion-dollar capex levels in recent years as it aims to maintain a positive free cash flow,

while keeping pace with the Philippines’ rapidly growing digital economy and increasingly bandwidthintensive applications.

For the nine months ended September 2025, Globe reported consolidated gross service revenues of P121.7 billion, slightly below the P124 billion posted in the same period the year prior.

Globe’s net income dropped by 14 percent to P17.7 billion, while core net income stood at P15.5 billion compared to P17.6 billion in the same period in 2024.

Megawide to build for Pag-IBIG

MEGAWIDE Construction Corp. announced plans to expand its precast facilities after entering into an agreement with the Home Development Mutual Fund, or Pag-IBIG Fund.

According to Megawide Chairman and CEO Edgar B. Saavedra, the company has to increase its capacity as its order book will expand to about P70 billion to P80 billion as part of the deal to join in government’s housing project under the state’s “Pambansang Pabahay Para sa Pilipino” (4PH) scheme.

“So, that’s the highest, all-time highest because P50 billion plus to P60 billion was our highest,” Saavedra said.

He explained that the company can build P10,000 units of affordable housing units per year for the next five years, but the company will have

to prioritize Pag-IBIG’s deal. The company’s deal with the Pag-IBIG is to deliver 7,000 affordable housing units over the next two to three years.

Last month, Megawide and PagIBIG sealed a deal, in which the government agency will enter as an investor in the 4PH housing projects, via subscription to perpetual preferred shares issued by Megawide Dreamrise Residences Inc., amounting to P10 billion, payable in three tranches.

Dreamrise is 100-percent owned by Megawide.

Megawide expressed keen interest in joining the government’s 4PH program and aspires to launch 100,000 units as part of its long-term roadmap.

The first 50,000 units have already been identified and included in its pipeline over the next five years,

which includes project launches and groundbreakings in five locations in Cavite – one in Imus and two each in Dasmarinas and Bacoor.

“The partnership with Pag-IBIG is strategic in the sense that it addresses the imbalance between demand and supply in the housing sector. We believe that we are uniquely positioned and technically proficient to deliver high-quality and cost-efficient housing products that meet the requirements of the 4PH program, with speed and consistency,” Saavedra earlier said.

Pag-IBIG, the country’s largest home financing institution, is mandated to provide accessible savings and affordable housing loans to Filipino workers.

The agency financed more than 57,000 homes as of September last year. VG Cabuag

The capex project involves the installation of 12.5 megavolt ampere (MVA) power transformer and emergency replacement of 33MVA power transformer at the Batangas substation. The project, Meralco, said will redound to the benefit of electricity consumers in terms of continuous, reliable, and efficient power supply.

STOCK-MARKET OUTLOOK

The ERC decision was promulgated last January 12. Lenie Lectura

LAST WEEK

SHARE prices rallied for the fourth straight week, buoyed by bargain hunting and signals from monetary authorities of a potential rate cut as early as next month.

The benchmark Philippine Stock Exchange index closed 116.53 points to close at 6,464.67 points.

The main index was down for three out of the five trading days, but the increase were higher as investors were bullish on the market. Average value turnover reached P6.53 billion, with foreign investors, who took 48 percent of the trades, were net buyers at P3.01 billion.

All other sub-indices closed on the green, with the exception of the Services index that fell 18.57 points to 2,536.07 points, the All Shares index gained 45.33 to 3,652.33, the Financials index rose 57.11 to 2,190.66, the Industrial index added 93.13 to 9,159.37, the Holding Firms index climbed 167.11 to 5,159.03, the Property index increased 58.28 to 2,362.21 and the Mining and Oil index soared 1,013.90 to 17,314.46.

The top gainers were AllDay Marts Inc., AllHome Corp., Shell Pilipinas Corp., IPM Holdings Inc., Top Frontier Investment Holdings Inc., Kepwealth Property Phils. Inc. and NiHAO Mineral Resources International Inc.

The top losers, meanwhile, were Supercity Realty Development Corp., Dominion Holdings Inc., Philippine Trust Co., Philippine Racing Club Inc., Seafront Resources Corp., Philcomsat Holdings Corp. and Macay Holdings Inc.

THIS WEEK

SHARE prices may be weighed down by profit taking pressure next week, after a four successive weeks of increase.

Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc., said the peso’s weakness, if it extends, may also challenge the local bourse.

“On a positive note, hopes that the BSP would cut rates in their February meeting may give the market support. Investors are also expected to be on the look out or further catalysts,” Tantiangco said. Broker 2TradeAsia said local equities currently present a compelling valuation case, with the PSEi trading at a sub-10 times forward price to earnings ratio, the lowest in the region and near historic troughs.

“The current market environment demands a disciplined accumulation of oversold blue chips. With fundamentals stabilizing and valuations at decadal lows, the risk-reward profile is skewed heavily to the upside for patient capital; consider positioning ahead of the liquidity cycle rather than chasing the breakout to maximize alpha,” the broker said.

Chartwise, the local market remains bullishly biased, trading above its 10-day, 50-day, and 200-day exponential moving averages.

Tantiangco said the Relative Strength Index are also trending upwards reflecting bullish momentum. This, however, is at overbought territory however indicating that profit taking could happen anytime soon.

The local market’s support is seen at 6,400 points and resistance at 6,600 points.

STOCK PICKS

MAYBANK Securities gave a “buy” rating on Maynilad Water Services Inc., (PSE: MYNLD) with a target price of P20 per share.

The broker said the company is entitled to recover approved investments and earn a fixed 12 percent pre-tax return.

“Regulatory risks have eased following the extension of its concession through 2047 and the approval of the 2023 rate rebasing which supports its highest capex cycle to date. We expect stable dividends and earnings to grow by 7 percent and 10 percent in 2026 and 2027, driven by tariff increases and margin improvements,” it said. MYNLD closed last week at P17.50 apiece.

Maybank Securities also maintained a “buy” rating on Filinvest REIT Corp. (PSE: FILRT) but cut its target price by 10 percent to P3.15 after raising other expense estimates for straight-line adjustments from the company’s Festival Mall acquisition in May 2025.

This follows Filreit’s third quarter 2025 results, which fell short of forecasts due on higher other expenses.

“We maintain our buy rating, with total potential upside of 11 percent as we see improving office vacancies in Metro Manila this year,” the broker said. FILRT closed last week at P3.06 apiece. VG Cabuag

Banking&Finance

New law eyed to replace annuity for MUP pension

By Jovee Marie N. dela Cruz @joveemarie

S Malacañan Palace un -

Adertakes a comprehensive review of the military and uniformed personnel (MUP) pension system, lawmakers are pressing for new legislation to replace the current annuity scheme with what they described as a “sustainable, equitable, and financially sound” pension program.

Camarines Sur Reps. Miguel Luis R. Villafuerte and Vincenzo Renato

Luigi R. Villafuerte said the Palace review of the non-contributory MUP pension system should pave the way for a major overhaul, amid mounting concerns from the government’s own economic managers over the long-term fiscal viability of the existing setup.

Miguel Luis, chairman of the House Committee on Information and Communications Technology, said Congress must urgently act to institutionalize reforms that will ensure the sustainability of pensions for MUP retirees.

“There is an urgency for the current Congress to write new legislation on a sustainable, equitable, and financially sound annuity system for our MUP pensioners in recognition of their invaluable contribution as our frontliners in national defense, peace and order, public safety, and disaster response,” he added.

Luigi, a deputy majority leader, said the proposed measure would complement the administration’s efforts to improve the welfare of MUP members, citing Executive Order (EO) 107 issued by Ferdinand R. Marcos Jr. last year.

“The approval of a reformed pension system would be a fitting contribution of the 20th Congress to the Marcos administration’s drive to raise the living standards of our MUP, following the issuance of EO 107, which upgraded their base pay and subsistence allowance,” he said. EO 107, signed in December, mandates a 15-percent increase in MUP base pay to be implemented in three tranches starting January 1, 2026, followed by adjustments in 2027 and 2028. The order also raised the daily subsistence allowance of MUP members to P350 from P150.

Budget Secretary Rolando U. Toledo recently said the President’s eco-

nomic team is studying MUP pension reforms in compliance with EO 107, noting that the pay hike will automatically increase pension benefits for about 200,000 retirees, as pensions are indexed to the salaries of active personnel.

As a result, the inter-agency technical working group created under EO 107—composed of representatives from the Department of Budget and Management, Department of Finance, Bureau of the Treasury, and the Government Service Insurance System (GSIS)—is conducting a comprehensive review of the pension system to develop a more sustainable and equitable framework.

The working group has been tasked to draft a reform bill and submit it to the Office of the President before Congress resumes its second regular session in July.

Under the proposed 2026 General Appropriations Act, over P145 billion has been allocated for MUP and veterans’ pensions. At present, MUP members do not contribute to their pension fund, with benefits fully sourced from the national budget— a system former Finance Secretary and current Monetary Board member Benjamin E. Diokno previously warned was fiscally untenable.

Lawmakers said they support the President’s pay hike order and stressed that pension reform legislation would further strengthen efforts to uplift the welfare of MUP personnel.

They noted that while the House passed an MUP pension reform bill during the 19th Congress, the measure stalled after the Senate failed to approve a counterpart bill.

The lawmakers have refiled House Bill 1550, or the Military and Uniformed Personnel Pension System Act, co-authored with Reps. Tsuyoshi Anthony Horibata and Terry Ridon. The bill proposes the creation of separate trust funds for the Armed Forces of the Philippines and other uniformed services, mandatory contributions for new entrants, and adjustments to retirement age and benefits to ensure fiscal sustainability.

HB 1550 is among the priority bills identified by Marcos under the Legislative-Executive Development Advisory Council. The House has already approved 12 out of the 48 priority measures.

High earnings, loan growth boost banks’ end-Nov assets

By Reine Juvierre Alberto @reine_alberto

THE total assets of the country’s banking sector climbed to P28.721 trillion as of the end of November 2025, driven by sustained loan growth and higher bank earnings, according to the Bangko Sentral ng Pilipinas (BSP).

Latest data from the BSP showed bank assets amounted to P28.721 trillion as of end-November 2025, up by 1.51 percent from P28.291 trillion as of end-October 2025.

Compared to a year ago, assets held by the Philippine banking system rose by 7.43 percent from P26.734 trillion.

According to Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp., the growth in bank assets was due to the continued double-digit expansion in bank lending, particularly the more than 20-percent growth in consumer loans.

Ricafort said banks also benefited from sustained growth in net income, supported by trading gains that boosted capital levels and overall assets, noting that banks have remained among the most profitable industries in recent years.

These were all supported by lower policy rates and reduced reserve requirement ratios (RRR) implemented by the Bangko Sentral ng Pilipinas (BSP) in recent months, Ricafort added.

Data showed bank assets grew faster both month-on-month and year-on-year than liabilities.

Liabilities of the banking sector stood at P25.070 trillion as of end-November 2025, 1.62 percent higher from P24.668 trillion as of end-October 2025.

Bank liabilities also recorded a 7.14 percent increase from the P23.398 trillion recorded as of endNovember 2024.

The growth of bank assets was supported by nthe et total loan portfolio (TLP), which grew by 11.65 percent year-on-year to P15.893 trillion as of end-November from P14.233 trillion.

The net real and other properties acquired (ROPA) likewise jumped by 20.43 percent to P136.990 billion as of end-November from P113.745 billion in the same period a year ago.

BSP data further showed that other assets of banks expanded by 15.90 percent to P2.247 trillion as of end-November from 1.939 trillion in the previous year.

“Going forward, further cut/s in BSP rates, Fed rates, RRR rates could lead to further reduction in borrowing costs that could lead to greater demand in bank loans that could also sustain growth in bank assets

Trump threatens to sue JPMorgan over debanking

RESIDENT Donald Trump

Prailed against JPMorgan Chase & Co. and its leader Jamie Dimon, threatening to sue the banking giant over his claim that he was debanked after the January 6, 2021, Capitol riot.

In a post last Saturday, Trump responded to a Wall Street Journal story that said Trump offered Dimon the role of Federal Reserve chief several months ago in a way that Dimon interpreted as a joke.

“There was never such an offer and, in fact, I’ll be suing JPMorgan Chase over the next two weeks for incorrectly and inappropriately DEBANKING me after the January 6th Protest,” Trump wrote.

He didn’t elaborate.

that is faster than GDP growth,” Ricafort said.

“Sustained growth in banks’ deposits also supports continued growth in bank loans, earnings, investments, and overall assets growth of banks,” he added. Moreover, the net total investments of banks also increased by 6.52 percent year-on-year to P8.389 trillion as of end-November from P7.875 trillion. Cash and due from banks, meanwhile, dropped by

briefs

➔ DBP cited by regulator THE Development Bank of the Philippines (DBP) announced it has been recognized for

TBy Lenie Lectura @llectura

HE Pangilinan-led SP New Energy Corp. (SPNEC) is not liable to pay the P24 billion penalties cited by Department of Energy (DOE) for the terminated service contracts of Solar Philippines.

SPNEC is 57.33-percent controlled by Meralco PowerGen Corp. (MGEN), through its renewable energy arm MGEN Renewable Energy, Inc. (MGEN Renewables), and 16.3-percent is owned by Solar Philippines Power Project Holdings Inc. (SPPPHI). The remaining shares are publicly owned.

MGEN Renewables became the majority shareholder of SPNEC in 2023. In a statement released by MGEN last Sunday, the company clarified that it is not accountable to pay the government P24 billion worth of performance bonds and contractual obligations for failure to deliver its committed projects with a total capacity of 11,427 megawatts (MW). This represents 64 percent of the 17,904 MW of committed capacity covering 163 renewable energy service contracts that were terminated and relinquished in 2024 and 2025, according to the DOE. The DOE has identified the Solar Philippines, as one of the project companies under SPPPHI, as the project proponent for most of the cancelled contracts. SPPPHI was founded by Leandro Antonio L. Leviste in 2013.

Of the 12,000 MW worth of contracts

that have been terminated, only one for the 280MW Santa Rosa project is under SPNEC. The former management, which is SPPPHI, of the Santa Rosa project offered and was awarded 280 MW in the first round of the Green Energy Auction Program of the DOE. This project already filed a notice of force majeure with the DOE last year citing reasons beyond its control preventing it from completing the project by its target of December 2025.

“The P24 billion is not SPNEC,” said MGEN Sustainability, Communications, and External Affairs Head Christer A. Gaudiano, adding that the company is in discussions with the DOE on the force majeure claim.

MGEN Renewables has demonstrated a strong execution track record, having completed two projects ahead of schedule under the Department of Energy’s second Green Energy Auction (GEA-2) program. These include the 19.8 megawatt alternating current (MWAC) MGEN Renewables Bongabon Solar project in Nueva Ecija, which was completed at least six months ahead of schedule, and the 52.8 MWAC MGEN Renewables Cordon Solar project in Isabela, which was completed four months ahead of schedule.

Today, MGEN operates seven solar sites across the country with more than 400 MW total capacity. It is also currently building the MTerra Solar project, which is touted as one of the biggest solar projects in the world with 3,500 MW peak of solar capacity integrated with 4,500 MW hour of energy storage.

Trump claimed in August that JPMorgan “discriminated against me very badly” when he alleged the bank asked him to close accounts he held for decades, an action he believes was connected to his supporters stormed the Capitol to stop the 2021 certification of President Joe Biden’s victory. The bank later said it’s facing reviews, investigations and legal proceedings tied to the Trump administration’s fight against “debanking.”

“We agree that no one’s account should ever be closed because of political or religious beliefs,” JPMorgan spokesperson Trish Wexler said in an emailed statement. “We appreciated that this administration has moved to address political debanking and

CITING that overseas Filipino workers grapple with rising living expenses abroad and with renewed scrutiny over social protection programs, lawmakers are renewing calls for the swift passage of a bill seeking to exempt OFWs from mandatory PhilHealth premium payments.

House Committee on Higher and Technical Education Chairman Jude A. Acidre, a co-author from the Tingog Party-list, said House Bill (HB) 2 remains pending before the House Committee on Health and is currently undergoing refinement at the technical working group (TWG) level.

“The proposed law of former Speaker Ferdinand Martin G. Romualdez reflects the fact that OFWs contribute far more than their fair share to the economy, sending home remittances, paying taxes, and making sacrifices that keep families and businesses going. Requiring them to

we support those efforts.”

Dimon said earlier this week he wouldn’t consider being the Fed chair.

In response to a question last Thursday at a US Chamber of Commerce event about whether he’d consider taking over the central bank, Dimon said, “Chairman of the Fed, I’d put in the absolutely, positively no chance, no way, no how, for any reason.”

As for running the Treasury, “I would take the call,” he said.

Dimon said in an emailed statement that there were no job offers and added, “I have enormous respect for Secretary Bessent and think he’s doing an excellent job for our country—better than I could have.” Di-

pay more for health coverage would be unfair, especially amid mounting global economic challenges,” Acidre said.

Data from the Bangko Sentral ng Pilipinas (BSP) shows that remittances remain resilient. However, economists warn that real income gains of migrant workers are being eroded by higher housing, food, and medical costs overseas.

Labor groups have also reported growing dissatisfaction among OFWs over mandatory contributions, which they say are difficult to access while working abroad.

Acidre said the bill addresses longstanding equity issues within the universal health care system.

Several OFW organizations have likewise noted that mandatory payments discourage enrollment, particularly among land-based workers on shortterm contracts.

mon was referring to Treasury Secretary Scott Bessent.

Trump hasn’t yet said whom he will nominate to succeed Fed Chair

Jerome Powell, whose term as chair ends in May. Trump said Friday he has a pick in his mind but declined to identify them.

Dimon’s comments follow a public back-and-forth between Dimon and Trump earlier this week over the president’s attacks on the Fed, including criminal subpoenas issued by the Justice Department over the renovation of the Fed’s headquarters.

Dimon said Tuesday that chipping away at Fed independence is “not a great idea,” and could lead to higher inflation and interest rates over time.

Bloomberg

Health policy experts also note that the measure aligns with global best practices, where migrant workers’ health insurance is typically shared between employers and host governments rather than imposed solely on the worker.

“This is a corrective measure,” Acidre said. “Universal health care must be universal in protection, not universal in burden.”

He warned that further delays in approving the measure would mean missed opportunities to provide much-needed relief to millions of Filipino workers amid continuing global uncertainty.

If enacted, HB 2 would mark one of the most significant policy shifts affecting OFW welfare in recent years, reinforcing the government’s commitment to protect migrant workers

Monday, January 19, 2026

Explainer

INSURRECTION ACT:

How it’s been used and what Trump wants to do with it

By Bill Barrow

The Associated Press

DONALD

Trump would not be the first president to invoke the Insurrection Act, as he has threatened, so that he can send U.S. military forces to Minnesota.

But he’d be the only commander in chief to use the 19th-century law to send troops to quell protests that started because of federal officers the president already has sent to the area—one of whom shot and killed a U.S. citizen.

The law, which allows presidents to use the military domestically, has been invoked on more than two dozen occasions—but rarely since the 20th Century’s Civil Rights Movement.

Federal forces typically are called to quell widespread violence that has broken out on the local level — before Washington’s involvement and when local authorities ask for help. When presidents acted without local requests, it was usually to enforce the rights of individuals who were being threatened or not protected by state and local governments. A third scenario is an outright insurrection—like the Confederacy during the Civil War.

Experts in constitutional and military law say none of that clearly applies in Minneapolis.

“This would be a flagrant abuse of the Insurrection Act in a way that we’ve never seen,” said Joseph Nunn, an attorney at the Brennan Center for Justice’s Liberty and National Security Program. “None of the criteria have been met.”

William Banks, a Syracuse University professor emeritus who has written extensively on the domestic use of the military, said the situation is “a historical outlier” because the violence Trump wants to end “is being created by the federal civilian officers” he sent there.

But he also cautioned Minnesota officials would have “a tough argument to win” in court, because the judiciary is hesitant to challenge “because the courts are typically going to defer to the president” on his military decisions.

Here is a look at the law, how it’s been used and comparisons to Minneapolis.

The law was originally meant as a way to protect the early republic GEORGE WASHINGTON signed the first version in 1792, authorizing him to mobilize state militias—National Guard forerunners— when “laws of the United States shall be opposed, or the execution thereof obstructed.” He and John Adams used it to quash citizen uprisings against taxes, including liquor levies and property taxes that were deemed essential to the young republic’s survival.

Congress expanded the law in 1807, restat -

ing presidential authority to counter “insurrection or obstruction” of laws. Nunn said the early statutes recognized a fundamental “Anglo-American tradition against military intervention in civilian affairs” except “as a tool of last resort.”

Trump insists conditions call for the last resort

THE president argues Minnesota officials and citizens are impeding U.S. law by protesting his agenda and the presence of U.S. Immigration and Customs Enforcement officers and Customs and Border Protection officers. Yet early statutes also defined circumstances for the law as unrest “too powerful to be suppressed by the ordinary course” of law enforcement.

There are between 2,000 and 3,000 federal authorities in the Minneapolis-St. Paul metro area, compared to Minneapolis, which has fewer than 600 police officers. Protesters’ and bystanders’ video, meanwhile, has shown violence initiated by federal officers, with the interactions growing more frequent since Renee Good was shot three times and killed.

“ICE has the legal authority to enforce federal immigration laws,” Nunn said. “But what they’re doing is a sort of lawless, violent behavior” that goes beyond their legal function

and “foments the situation” Trump wants to suppress.

“They can’t intentionally create a crisis, then turn around to do a crackdown,” he said, adding that the Constitutional requirement for a president to “faithfully execute the laws” means Trump must wield his power, on immigration and the Insurrection Act, “in good faith.”

Civil War-era changes were for Union interests and civil rights

COURTS have blocked some of Trump’s efforts to deploy the National Guard, but he’d argue with the Insurrection Act that he does not need a state’s permission to send troops.

That traces to President Abraham Lincoln, who held in 1861 that Southern states could not legitimately secede. So, he convinced Congress to give him express power to deploy U.S. troops, without asking, into Confederate states he contended were still in the Union. Quite literally, Lincoln used the act as a legal basis to fight the Civil War.

Nunn said situations beyond such a clear insurrection as the Confederacy still require a local request or another trigger that Congress added after the Civil War: protecting individual rights. Ulysses S. Grant used that provision to send troops to counter the Ku Klux Klan and

other white supremacists who ignored the 14th and 15th amendments and civil rights statutes.

Workers, immigrants were at the heart of some deployments DURING post-war industrialization, violence erupted around strikes and expanding immigration—and governors sought help.

President Rutherford B. Hayes granted state requests during the Great Railroad Strike of 1877 after striking workers, state forces and local police clashed, leading to dozens of deaths. Grover Cleveland granted a Washington state governor’s request—at that time it was a U.S. territory—to help protect Chinese citizens who were being attacked by white rioters. President Woodrow Wilson sent troops to Colorado in 1914 amid a coal strike after workers were killed. Federal troops helped diffuse each situation.

Banks stressed that the law then and now presumes that federal resources are needed only when state and local authorities are overwhelmed — and Minnesota leaders say their cities would be stable and safe if Trump’s feds left.

On 20th century civil rights, a repeat of the Reconstruction approach AS Grant had done, mid-20th century presi -

dents used the act to counter white supremacists.

Franklin Roosevelt dispatched 6,000 troops to Detroit—more than double the U.S. forces in Minneapolis—after race riots that started with whites attacking Black residents. State officials asked for FDR’s aid after riots escalated, in part, Nunn said, because white local law enforcement joined in violence against Black residents. Federal troops calmed the city after dozens of deaths, including 17 Black residents killed by local police.

Once the Civil Rights Movement began, presidents sent authorities to Southern states without requests or permission, because local authorities defied U.S. civil rights law and fomented violence themselves.

Dwight Eisenhower enforced integration at Central High School in Little Rock, Arkansas; John F. Kennedy sent troops to the University of Mississippi after riots over James Meredith’s admission and then pre-emptively to ensure no violence upon George Wallace’s “Stand in the Schoolhouse Door” to protest the University of Alabama’s integration.

“There could have been significant loss of life from the rioters” in Mississippi, Nunn said.

Lyndon Johnson protected the 1965 Voting Rights March from Selma to Montgomery after Wallace’s troopers attacked marchers’ on their first peaceful attempt.

City riots and the last instance in 1992 JOHNSON also sent troops to multiple U.S. cities in 1967 and 1968 after clashes between residents and police escalated. The same thing happened in Los Angeles in 1992, the last time the Insurrection Act was invoked.

Riots erupted after a jury failed to convict four white police officers of excessive use of force despite video showing them beating a Rodney King, a Black man. California Gov. Pete Wilson asked President George H.W. Bush for support.

Bush authorized about 4,000 troops — but after he had publicly expressed displeasure over the trial verdict. He promised to “restore order” yet directed the Justice Department to open a civil rights investigation, and two of the L.A. officers were later convicted in federal court.

In the name of her father: Aika

Robredo’s bridal dress by Jo Rubio

PLAYFUL CELEBRATION OF CRAFTSMANSHIP AND TOGETHERNESS FROM ITALIAN POWERHOUSE

TO celebrate the 2026 Lunar New Year and the start of the year of the Fire Horse, Italian style powerhouse Fendi presents a special Capsule Collection that masterfully blends the brand’s iconic aesthetics with traditional symbols of auspiciousness. Drawing inspiration from the color-blocking and floral motifs featured on the Spring/Summer 2026 runway, the capsule collection is designed for both women and men, reinterpreting elements of good fortune through modern designs, filled with joyous energy and luxurious style.

The women’s ready-to-wear features three classic FF logo knit pieces in light blue, reimagined with uniquely crafted color-block trims in pink and yellow. Inspired by the striking contrast theme from the Spring/Summer 2026 collection, the clever clash of opposing colors injects vibrant energy into the iconic motif, showcasing a bold festive spirit. The women’s accessories introduce two new BFF Mini charms, enlarging the miniature family that debuted in Fall/ Winter 2025-26 and continued into Spring/Summer 2026. Existing characters present new dressings and details that combine the red hue rich with New Year symbolism, and the auspicious signs of persimmons and peanuts, a nod to the Chinese phrase “good persimmons and peanuts”, meaning “may everything go smoothly” and “wish that good things happen”, conveying heartfelt wishes for luck and joy through exquisite design. A special BFF Maxi charm, part of a limited series, mirrors the mini version’s look with luxurious materials and intricate details, from the mink hair and leather dress to the shearling accents on the shoes, showcasing the maison’s utmost craftsmanship and creativity.

The men’s ready-to-wear includes a blue nylon windbreaker, a blue cotton hoodie, and a white cotton T-shirt, adorned with the Fendi logo inspired by the floral themes of the Spring/Summer 2026 collection. By combining natural floral charm with watercolor-style prints and delicate embroidery, the Fendi logo takes on a fresh and elegant artistic vibe, highlighting the festive elegance of the modern man.

The capsule collection is available in selected Fendi boutiques and on www.fendi.cn from January 15, 2026.

THE year that just passed was riddled with devastating national scandals that there were a grim sense of foreboding for 2026. But before dark times defined 2025, there was, fortunately, a beacon of light: the year-end nuptials of Aika Robredo to Jim Guzman at the Chapel of Our Lady of Guadalupe in Montecito in Calamba, Laguna, on December 29.

Guzman is a president of The Creators and Influencers Council of the Philippines while Aika is the eldest daughter of former Vice President and current Naga City Mayor Leni Robredo. Aika pursued her Master in Public Administration at the John F. Kennedy School of Governance through a full scholarship.

What made Aika’s wedding more wonderful was the thoughtful and touching tribute she gave to her father, the late secretary of the interior and local government and Ramon Magsaysay Awardee for Government Service Jesse Robredo.

“Aika’s wedding gown was lovingly crafted from her Papa’s old barongs, making sure that he was honored and cherished on such an important milestone,” Mayor Leni announced in a Facebook post.

Jo Rubio, emerging as one of the country’s brilliant creative talents, was endowed with the sentimental task. In a prime example of exquisite upcycling, Rubio shared on his Facebook page his design process:

“Working with @aikarobredo was an absolute joy. She knew what she wanted from the very start and gave me complete trust in handling something so precious to her family. Every piece of the Barong [Tagalog] was treated with the utmost care, meticulously repurposed, thoughtfully placed, and entirely hand-sewn. What emerged was a piña tapestry—one that became more than a visual statement. It became a love letter to her father, the late Jesse Robredo—a tender tribute to a man remembered for his service, integrity, and quiet strength.

“This gown was not just worn. It was felt.”

FILIPINIANA OF THE FUTURE

GONE were the staid trappings of the national garment for men, as Rubio imbued the two to three barongs Tagalog with his contemporary aesthetic, as they were incorporated into not only the bridal gown of Aika but also that of Mayor Leni.

“This was the very first time I made something for Aika and Mayor Leni. Aika saw my Instagram (IG) and found my designs reflective of her personality. What particularly caught her eye was my design for former Manila Mayor Honey Lacuna, which was a Filipiniana with a repurposed Barong Tagalog of her father,” Rubio bared.

“The collaboration came about when Aika’s coordinator, Ernest Pascual, made the introduction for us. Surprisingly, Mayor Leni follows me na pala on IG and FB [Facebook]. I met them in our Makati shop,”

LOOK at Me opens its doors in Quezon City

ENTERING a LOOK at Me store is an exercise in self-control but also a nod to indulgence. A beauty store that offers premium and upscale products, LOOK at Me opened five years ago at SM Aura and is now considered a premium beauty destination.

“Beauty is big business. Personal care is very big.

Filipinos love looking good. What we have at LOOK at Me is more curated. It’s more updated. We are very serviceoriented,” said Danilo Chiong, managing director of Watsons Philippines. LOOK at Me, for instance, has a roster of makeup artists called Generation LOOK. They are not your

or

from Ateneo de Manila, and Jillian, who graduated with a double major in Economics and Mathematics on a full scholarship at New York University.

THE BUSINESS OF WEDDINGS

RUBIO averages two to three weddings a month, with the busiest season from December to January. So, have December Brides replaced the June Brides?

“Many Filipino weddings are held in December to January. It has always been like that. June weddings are a popular Western culture. In our country, June falls during the rainy season. Couples would avoid the typhoon or the peak of the rainy season,” he explained.

“One of the reasons why in Filipino culture December is the merriest month to get married is probably because balikbayan families would come home for the holidays and the couples will strategically schedule their wedding dates aligned with their family reunions,” added Rubio.

Pia Wurtzbach and Catriona Gray.

“I love also doing gowns for celebrities and beauty queens but I feel that with pageants and balls, the style intentions for the muse are to shine and be competitive. Unlike in weddings where the bride is always the star of the event,” said Rubio. But designing bridal dresses holds a special place in his heart.

“I love doing weddings because a wedding is truly a personal experience. When I meet brides, we really plan a year ahead and we closely work together to plan and design their dream wedding dress. I am very collaborative with my brides right from the very start,” Rubio revealed.

“Each bride is unique and special. They want to wear something that is dreamy, romantic and elegant and more importantly something that is reflective of their personality.”

and Mugler. The SM North Edsa store is also the first LOOK at Me with an Armani counter.

Beauty enthusiasts can also find Korean and Japanese skincare brands known for ingredient-led formulations, innovation, and proven efficacy, such as Dr. Jart+, Laneige, Innisfree, Beauty of Joseon, COSRX, Round Lab, and Torriden, alongside global favorites, such as The Ordinary, Rhode, Charlotte Tilbury, Time Phoria, Fwee, TIRTIR, Hourglass, Time Phoria, ONE/SIZE, Shiseido, and NARS. South Korean niche fragrance brand Born to Stand Out is also at LOOK at Me, along with TikTok-famous Indonesian beauty brand Time Phoria.

There are also a lot of Japanese hair care brands, like Tsubaki, Diane, Fino, Ichikami, &honey, and many others. LOOK at Me also carries Filipino brands, like GRWM Cosmetics, Teviant, BLK, and Absidy.

The beauty collective also has an impressive array of designer fragrances, such as Kayali, Coach, kate spade of new york, Elizabeth Arden, Rabanne, Dolce & Gabanna, and many others. A beauty collective like LOOK at Me fulfills the needs of the modern Filipino beauty enthusiast for a one-stop place where they can find everything that they need under one roof.

“Filipino beauty consumers are more informed and discerning than ever. With LOOK At Me North Edsa, we wanted to create a space that brings global beauty closer to them, one that offers curation, expertise, and an experience that feels both elevated and personal,” said Chiong.

Miming and Friends Breaches 100,000 YouTube Subscribers

Miming and Friends, the homegrown animated YouTube series that instructs Filipino children and families about the environment, has reached a major milestone: 100,000 subscribers, earning the channel eligibility for YouTube’s Silver Play Button.

Created by Filipino creatives Ramon and Meryll del Prado of Dumaguete in 2020, Miming and Friends uses adorable characters, storytelling, and original songwriting to make complex environmental topics simple and engaging. Through human-made animation grounded in Filipino culture, language, and values, the titular character Miming, is a cat-fish whose world helps viewers understand issues such as waste segregation, plastic recycling, composting, and greenhouse gas emissions. A five-part series on sustainability was launched in 2022 by the channel together with partners Mondelēz International in the Philippines and ocean advocacy group Save Philippine Seas.

In a world where sustainability messages are often technical or not relatable, Miming and Friends represents an innovation in sustainability communications:

Kid-first storytelling instead of jargon

Short, accessible digital content instead of long lectures

Behavior-based characters that model real actions families can take at home

“Miming and Friends shows that learning about the environment doesn’t have to be scary or complicated,” said Caitlin Punzalan, Mondelēz International’s Corporate and Government Affairs Lead. “By placing sustainability in the hands of children through fun, Filipino storytelling, we help build habits that last across generations.”

The success of Miming and Friends is powered in part by its partnership with snacks company Mondelēz International, whose commitment to #SustainableSnacking includes supporting efforts to build awareness around proper plastic waste management and waste diversion.

Through this collaboration, Mondelēz International helped produce a dedicated five-episode series centered on environmental awareness, ensuring that key messages on responsible consumption and waste management are delivered clearly, responsibly, and creatively.

“Miming and Friends allows us to support conversations about plastics, waste, and climate in a way that feels empowering and relevant to Filipino families,” added Punzalan.

The project is also made stronger through the involvement of Save Philippine Seas (SPS), a leading marine conservation organization. SPS ensures that every episode is grounded in science, local realities, and meaningful environmental action.

“Animation is powerful — kids listen, parents learn alongside them,” said Anna Oposa, Executive Director and Chief Mermaid of SPS. “By

subscribers. This milestone was supported by Mondelēz International in the Philippines and Save Philippine Seas, and surrounding the trio are all the characters from the original Filipino animated channel.

bringing science into storytelling, we help more families understand why waste segregation matters, how plastics affect oceans, and what they can do in their communities.”

For creators Ramon and Meryll del Prado, the milestone is deeply personal.

“We feel incredibly privileged to share our stories, our creativity, and our passion with Filipino families,” said the tandem. “Miming and Friends was created from our desire for a Filipino original animation, our concern for the environment, and our hope that Filipino children grow up caring for our planet and our culture. Knowing that so many families are learning and enjoying the channel with us is truly humbling.”

Since the miniseries collaboration with Mondelēz International, the channel has grown steadily, from modest early viewership to over 100,000+ subscribers, hundreds of thousands of cumulative views and a growing base of families, teachers, NGOs, and schools using the videos as learning tools, including the Department of Environment and Natural Resources on their Facebook page.

With its continued momentum, Miming and Friends plans to release more short-form educational content, tackle more local environmental topics, and reach even more children across the Philippines.

Powering a Million Trust on Two Wheels: Honda Philippines Strengthens Its Market Leadership

HONDA Philippines, Inc. (HPI), the No. 1 motorcycle manufacturer in the country, closed calendar year 2025 with 1,041,237 retail and 1,044,510 wholesale motorcycle units’ sales, reinforcing its leadership in the Philippine two-wheel industry, with the highest retail sales record in the history of HPI last December 2025 of 114,772 motorcycle units.

The strong full-year performance reflects sustained trust in HPI’s high-quality, innovative, reliable motorcycle products with the company’s continued commitment to bring joy of mobility to every Filipino riders. Through its wide-ranging lineup, HPI continues to support everyday journeys, bringing efficiency, performance, and peace of mind to customers across the country.

HPI’s strong full-year performance was led by its top five models—CLICK125, ADV160, BeAT, TMX125 Alpha, and XRM125 DS—all recognized for their performance, reliability, and design.

The famous Click125 topped both retail and wholesale rankings with its minimalist and sporty design, fuel efficiency, and rider-friendly features, while the ADV160 stood out for adventure seekers its balance of power, advanced technologies with safety features, and comfort for long rides.

The BeAT remained a favorite among young and first-time riders for its lightweight, compact, and stylish build. In the underbone category, the XRM125 DS offered versatility across urban and rural roads, while the TMX125 Alpha continued to serve work and business riders with its durability, fuel efficiency, and ease of handling.

“Our strong performance in 2025 reflects the continued trust of Filipino riders and the strength of our diverse product lineup. We remain committed to delivering innovative and dependable motorcycles that support the daily lives, work, and aspirations of our customers,” said Takeshi Kobayashi, President of Honda Philippines, Inc.

HPI’s continued leadership reinforce its dedication to making two-wheel mobility more exciting, safe, reliable, and accessible for every Filipino, from students and professionals to entrepreneurs and motorcycle enthusiasts. As the company moves into 2026, HPI remains focused on offering products that balance performance, efficiency, and comfort while responding to the evolving needs of today’s riders. For more information, visit www.hondaph.com. Stay updated on Honda’s newest products and promos by following Honda Philippines, Inc. on Facebook at facebook.com/hondaph, Instagram at instagram. com/hondaph_mc/, YouTube at Honda Philippines_Motorcycle, and TikTok at tiktok.com/@hondaphilippines. For inquiries, contact (02)8581-6700 to 6799, and 0917-884-6632.

Siguion-Reyna, Montecillo & Ongsiako (SRMO) Marks 125

Years of Continuous Legal Practice

SIGUION-Reyna, Montecillo & Ongsiako (SRMO), the country’s longest running law firm, celebrates its 125th anniversary in a rare milestone of uninterrupted legal practice in the Philippines. Founded at the turn of the 20th century, SRMO has maintained continuous operations through colonial transition, war, political transformation, economic cycles, and sweeping changes in Philippine law.

As it approaches its quasquicentennial year, the firm stands as a singular institution whose history runs parallel to the development of the modern Philippine legal system.

For over 125 years, SRMO has served as a training ground for lawyers who would later occupy the highest levels of public service, jurisprudence, business, and media. Its alumni list reads like a cross-section of modern Philippine leadership.

Among its most prominent former lawyers are three Senate Presidents—Juan Ponce Enrile, Ernesto “Ernie” Maceda, and Edgardo “Ed” Angara—each of whom played pivotal roles in different chapters of the country’s legislative history. Their tenure in public life reflects the firm’s long-standing proximity to the nation’s most consequential policy debates.

The firm’s influence extends beyond politics. SRMO alumni went on to found or lead major law firms and corporations, including Angara of ACCRA; Antonio Meer of Meer, Meer & Meer; Belo, Gozon & Bravo, whose partners include Felipe Gozon, longtime Chair of GMA Network, and Gilbert Bravo, Chair of UBIX Corporation; Tanjuatco, Factoran, Berenguer & Oreta, whose partners include Jun Factoran, former Secretary of Environment, Babes Oreta, President of Alphaland, and Ed Berenguer, General Counsel of Philippine Airlines, and all of the founding partners of Platon, Martinez, Flores, San Pedro & Leano Law. In the judiciary and legal education, SRMO’s imprint is equally significant. Arturo “Art” Brion, a former Secretary of Labor, Associate Justice of the Supreme Court, and Chancellor of the Philippine Judicial Academy, is among the firm’s most distinguished alumni. Others include Saidamen Pangarungan, former Governor of Lanao del Sur, former Cabinet Secretary for Muslim Affairs, and Chair of the Commission on Elections, as well as George Nograles, founder of De La Rosa & Nograles Law.

General Partners Rolando

SRMO

and Deogracias Eufemio (1962), Tomas Matic, Jr (1955), and Manuel Montecillo (1948) alongside numerous Top 10 finishers—underscoring a long-standing culture of legal rigor and professional discipline.

According to SRMO’s Chairman, Opap Villonco, the firm’s longevity is rooted in stewardship and adaptability. “Our continuity is not accidental,” Villonco said. “For 125 years, the firm has been sustained by a culture of mentorship, ethical lawyering, and stewardship—where each generation understands that it is only a custodian of the firm for the next. Laws evolve, clients change, and history moves forward, but our commitment to excellence and professionalism has remained constant.”

As SRMO marks its 125th year, the firm views the milestone not simply as a celebration of longevity, but as a reaffirmation of purpose. With 125 years of uninterrupted practice, SiguionReyna, Montecillo & Ongsiako stands as a benchmark for institutional continuity in the Philippine legal profession.

Stage Post elevates audio craft, excellence in Filipino cinema through Puregold CinePanalo 2026 partnership

AS Puregold CinePanalo continues to endeavor producing world-class Filipino films in its third run, the film festival announced its collaboration with audio post house Stage Post Audio and Music Productions Inc., to help bring a unified approach to the audio quality of this year’s entries, aligning them with professional practices observed in the international scene. Through this partnership, Stage Post will extend its expertise and resources to help emerging and established filmmakers achieve professional-level audio standards and create movies with clarity, emotion, and cinematic depth.

As an official festival partner, Stage Post looks forward to assisting the Puregold CinePanalo filmmakers to bring out the full emotions of their stories through sound. “The filmmakers are telling powerful, very human stories, and our goal at Stage Post is to make sure their work is experienced with the same depth and clarity they intended. This partnership is a chance to collaborate with seasoned storytellers, as well as champion new voices who deserve to be heard at the highest level of craft,” says Paulo Almaden, Stage Post Managing Director. Stage Post is set to offer a co-production grant, consisting of complete audio post-production services to

one selected full-length film, and one student short film, which will cover major creative team expenses–including the work of a re-recording mixer, sound designer, dialogue editor, foley and effects artist, and ADR (automated dialogue replacement) specialist.

As a co-producer for the chosen Puregold CinaPanalo projects, Stage Post will provide these services exclusive of miscellaneous costs.

Also, all Puregold CinePanalo filmmakers will be granted an exclusive 50 percent discount on audio postproduction services, should they choose Stage Post as their sound partner.

Aside from offering assistance with regards to film production, Stage Post likewise wishes to deepen filmmakers’ understanding of audio craftsmanship.

To achieve this goal, the post-production company will launch an initiative called “Para sa Panalong Tunog: Audio Post Essentials,” a workshop series which aims to standardize audio deliverables across all CinePanalo films, and emphasize the vital role of sound and music in cinema.

Featuring a mix of online and face-to-face sessions, the program will cover topics such as storytelling through music, sound design for surround formats, dialogue editing, foley techniques, mixing, and post-production workflow management.

A guided tour of Stage Post’s facilities, an orientation on international audio standards, and a special session with an invited industry expert will round out the experience.

For this workshop, all CinePanalo full-length and student shorts filmmakers are invited to attend, with each film entitled to two workshop slots, for a maximum of two representatives. Priority attendance will be given to student shorts finalists, and those availing of the coproduction grant or the exclusive 50% discount. The 2026 Puregold CinePanalo will run at Gateway Cineplex 18 as well as select Ayala Cinemas. For more information on the Puregold CinePanalo Film Festival, visit the official Facebook page at facebook. com/puregoldcinepanalo.

Hongqi Philippines Enters CAMPI, Reinforcing Commitment to the Philippine Auto Industry

EVOXTERRA Inc., the official distributor of Hongqi vehicles in the Philippines, recognized for its growing presence in the country’s premium mobility segment, marks another milestone as it officially joins the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI), the country’s leading automotive association representing the industry’s foremost automotive brands and helping shape industry standards and advocacy. This development reinforces the brand’s foothold in the local market and aligns with its commitment to responsible and sustainable mobility. As one of Asia’s emerging premium mobility brands known for its craftsmanship and focus on electrified innovation, Hongqi continues to strengthen its regional presence, and its entry into CAMPI reflects its intention to take

part in initiatives that support the automotive industry’s progress.

“Hongqi Philippines is looking to conclude the year strongly by officially becoming the newest member of CAMPI,” said Hongqi Philippines President Rashid Delgado. “Joining CAMPI further reinforces Hongqi’s standing as a key player in the EV and automotive industry. Our focus and advocacies closely align with CAMPI’s priorities on EV growth, road safety, and continuous industry development. We are also preparing to introduce more electrified models to meet the rising demand for premium, reliable, and future-ready vehicles in the Philippine market.” Hongqi’s growing momentum is underscored by the recent introduction of

the E-HS7 and E-H7, two fully electrified models that embody the marque’s blend of refinement, performance, and thoughtful design for drivers seeking environmentally conscious mobility. Following the launch, Hongqi welcomed actress and sustainability advocate Alice Dixson as its brand ambassador, recognizing her timeless blend of beauty and elegance, qualities that reflect the brand’s identity, alongside her strong advocacy for clean and electric mobility. Hongqi’s move to join CAMPI aligns with the brand’s strategic expansion plans announced at the 2025 Auto Shanghai. At the event, Hongqi outlined its transition to the World’s New Luxury positioning, emphasizing enhanced user experience, cutting-edge

technology,

Cathy Sanchez Babao’s ‘Friday’s Child—Tales from a non-showbiz childhood’

Why Memories and Memoirs

should be in every PR

person’s Guidebook

IWOULD like to devote my first column for 2026 to a dear and valued friend, Cathy Sanchez Babao whose fifth book “Friday’s Child” was recently published in October last year and which I am proud to share has once again happily touched the hearts and minds of those who have read it.

It is also my pleasure to announce that shortly after her book was launched, she received news that she had won a Carlos Palanca Memorial Award for an Essay in English category. The year 2025 was certainly a significant one for Cathy, and I believe there are still many achievements that will be coming to her life soon.

In her Instagram account, cathybabao calls herself a storyteller, a grief coach, a student of history. Broadcasting joy, hope, laughter and inspiration. She is all of those and much more. She is a mother, a daughter, a wife, a friend and a sister to countless women who have been drawn to her writing and her work as a grief counselor.

Cathy has an instinct with words that when she puts her thoughts into words, they turn out to be a soothing balm, a gentle touch and a sense of comfort that goes straight to one’s heart. She has so far, authored five books—Heaven’s Butterfly, Between Loss and Forever, Heart on my Sleeve, Silver Linings, and Friday’s Child.

I have known Cathy for almost four decades now because when I was just starting my career in public relations, she was a young editor who gave me my first break as a columnist. As editor of the former “Me” magazine, she asked me to write on mainly positive thoughts and ideas that might touch and affect women so I named that column “Count Your Blessings”. Her influence and positivity have most certainly infected me, which is probably why all these years, our PR practice has naturally focused on the positive aspects of people, institutions, ideas and events. I thank Cathy for infusing me with her endless optimism and grace. She also encouraged me to write my book “Pinoy Manners” (2017) for which she kindly wrote the Foreword. And now that our PR agency has included publish -

ing as one of our related services, it was very natural for us to collaborate with Cathy in publishing “Friday’s Child,” not only because of our long friendship but because hers is the kind of work that we look for and want to highlight and encourage: personal but very meaningful stories full of vivid memories, heartfelt and charming, but possess a quiet firm power that cannot help but draw you in.

As communicators, we must be able to encourage and highlight memories, outstanding stories and memoirs, for the benefit of history and for keeping and remembering all that is positive and good. As Cathy wrote in her Prologue: “Memory, like childhood, is often messy. This book won’t follow a straight line. Some chapters are funny; others are weepy. But all of them are stitched together by a deep sense of wonder for the way a girl becomes who she is— not in one big, sweeping transformation, but through a thousand, small ordinary moments.”

For us to better understand the

process that Cathy went through for this book, we asked her two questions and here are her very personal and precious answers, something we can learn from not only about her book but also about writing.

How long did it take you to put together this book and what was the best part about writing it?

Cathy: The book didn’t arrive all at once. It brewed quietly in my head for a while—maybe the past three years.

Part of it began as a promise I made to my mom. That one day, I would write her story. She had always wanted me to write a book about her. Another part came from a deeper need: to remember her as she was before Alzheimer’s slowly rearranged her memories and ours. Writing became my way of holding on and remembering.

Some of the earliest pieces found their way onto Facebook over the past three or four years. Stories shared in between living and caregiving and missing her. The rest of the essays came

together while I was in the US for a few months last year, in the quiet spaces where distance made remembering both harder and clearer.

The best part of writing this book was that, for a while, I had her back. In sentences and scenes, she laughed again, scolded, loved fiercely, stood fully herself. On the page, she was the mommy I knew and chose to remember.

What advice would you give to other people who would like to write books to honor their parents or to keep treasured memories for their families?

Cathy: Write while your parents can still meet you halfway in memory and conversation. While their stories are still well-entrenched in their memories, while they can still correct you, laugh with you, argue a little, remember a name, a place, a year.

Take notes—messy ones, hurried ones. Take more photographs than you think you need. Look closely at old photographs because they have a way of loosening

memories that words alone cannot reach. A picture will suddenly open a door, and out will come a story you didn’t even know existed.

Take videos. Ask the questions you’ve been meaning to ask all these years. The small ones and the brave ones. Ask about their childhood fears, their first loves, their hardest seasons, the quiet choices that shaped your life without you realizing it. A dear friend of mine, the late and much-loved psychiatrist Dr. June Lopez—whose mother, by the way, was also named Caridad, used to remind me of this often.

“Tell your mom’s stories,” she would say. “Interview her while she can still recall them.” One of her deepest regrets was not having done that with her own mother. So don’t wait for the perfect time or the perfect book. Memory is fragile, but love is persistent. Write now. Record now. Preserve the ordinary and the extraordinary. One day, these stories will be the inheritance that matters most.

About the Author: CATHY SANCHEZ BABAO is a Filipino journalist, and Palanca Award winning author whose work is rooted in storytelling that honors memory, resilience, faith, and the quiet strength of everyday life. She is the author of five books Heaven’s Butterfly, Between Loss and Forever, Heart on My Sleeve, Silver Linings, and Friday’s Child. Her writing— both personal and reflective—has resonated with readers across generations. Cathy has been recognized with several honors, including the Ten Outstanding Women in the Nation’s Service (TOWNS) Award and the Reader’s Digest Everyday Hero Award in 2004, and a Carlos Palanca Memorial Award (Essay) in 2025. Through her words, she continues to bear witness to love, loss, and the stories that shape who we become.

To order or buy copies of the book “Friday’s Child” please Viber or call Tina Allarey at 0920 9542980.

PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier association for senior communications professionals around the world. Joy Lumawig-Buensalido is the President and CEO of Buensalido PR and Communications. She was past Chairman of the IPRA Philippine chapter for two terms.

PR Matters is devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@gmail. com.

Fajardo, Bagunas, Belen share PSA center stage

THE most dominant figure in local basketball today joins the current two biggest stars of Philippine volleyball in being honored with special awards in the San Miguel Corporation-Philippine Sportswriters Association (SMCP SA) Awards Night on Feb. 16 at the Diamond Hotel Manila.

June Mar Fajardo reigns as Mr. Basketball anew, while Bryan Bagunas and Bella Belen are Mr. and Ms. Volleyball awardees during the annual gala organized by the country’s oldest media organization and presented by ArenaPlus. It will be the seventh time the 35-year-old Fajardo will be feted with the same honor, while it’s the second time for Bagunas, and first for Belen. All three are part of the long sports honor roll for the year 2025 bannered by male and female Athletes of the Year Carlos Yulo and Alex Eala to be feted in the event also backed by major sponsors Philippine Sports Commission, Philippine Olympic Committee, M ilo, Cignal, Philippine Volleyball League, Philippine Basketball Association, Akari, Rain or Shine, Capital1 So lar Energy and Acrocity.

T he 6-foot-11 Fajardo again stood tall during Season 49 of the PBA when he reset his own record by winning an unprecedented ninth MVP trophy after steering San Miguel to its 11th Phil ippine Cup championship by beating T NT, and foiling the grand slam bid of the telecommunication franchise.

Falcons end campaign with draw against league-leading UP

ADAMSON University capped off its campaign in the Univer sity Athletics Association of the Philippines football tournament with a goalless draw against league leader Uni versity of the Philippines on Sunday at t he UP Diliman Football Stadium. The Soaring Falcons finished the season with 10 points, placing sixth with two wins, four draws, and six losses. This was an improvement from last season, when they ended at the bottom with nine points from just three victories. Adamson’s defense remained res olute throughout the match despite t he Fighting Maroons dominating possession. In the second half, the Soaring Falcons also created chances, with Lee Christian Hayahay and Elijah Pabalate coming close to scoring, though their attempts went off-target. UP had several opportunities from

TThe veteran center out of Univer sity of Cebu also continued to be the pillar in the middle of Gilas Pilipinas men’s basketball team that saw action in the FIBA Asia Cup in Saudi Ara bia and the first window of the FIBA World Cup Asian qualifiers. The 28-year-old Bagunas from Balayan, Batangas spearheaded Alas Pilipinas’ maiden campaign in the FIVB Men’s Volleyball World Champi onship which the country hosted for t he first time ever.

Bagunas and Co. stunned world No. 21 Egypt, 29-27, 23-25, 25-22, 25-21, for their first ever win on the world stage, before falling short against no. 14 Iran in a closely-fought battle for a berth in the Final 16 (2521, 21-25, 25-17, 23-25, 20-22). He later led the national team to a bronze medal finish in the 33rd South east Asian Games in Thailand.

Belen, 23, powered National Univer sity to a second straight UAAP women’s volleyball championship with a twomatch sweep of La Salle in the finals.

The outgoing Lady Bulldogs’ team

Her No. 4 jersey was later retired by NU and became the first player in school history to be given the honor.

The No.1 overall pick in the 2025 PVL rookie draft by Capital 1 was also a major cog for the Alas Pilipinas team that registered its best finish in the AVC Women’s Volleyball Nations Cup w ith a silver medal in Hanoi behind host Vietnam, to surpass the bronze medal it won in 2024.

HE Philippine 3x3 wheelchair basketball and cerebral palsy football teams will see action on Monday in the 13th Asean Para Games in Nakhon Ratchasima, Thailand. The men’s squad will be the

MIGUEL TABUENA seeks a repeat win as he heads the cast of top Filipino golfers in The Country Club Invitational. After falling just short of securing a spot in the lucrative LIV Golf L eague, Tabuena continues to vies for honors in the richest golf event in the country.

non Perea said adjustments on the fly during games will be the key in their campaign.

“We are always hoping but no matter how hard we train.  It will all boil down to the breaks of the game, how fit we are and how sharp we are during the game,“ Perea said.

“We are making adjustments. Court 2 is a little slippery and Court 1 has rough patches. But all teams will play there so it will be the same for everybody.”

The men’s CP football side will see action at 4 p.m. at the Nakhon Ratchasima Rajabhat University Football Stadium.

SMB’s Perez expects more explosive TNT in Philippine Cup finals

By Josef T. Ramos

expects a tougher matchup this time when San Miguel Beer and TNT clash anew in the Philippine Basketball Association Philippine Cup finals. Talk ‘N Text [TNT] is going to be more dangerous. They are more of a complete team and they are going to try to get back at us for sure. So, we must prepare and be ready,” Perez on Sunday.  Perez led the way as San Miguel finished off Barangay Ginebra with a lopsided 101-88 victory at the Araneta Coliseum in Game 6 of heir semifinal showdown. The Beermen and Tropang 5G begin he best-ofseven title series on Wednesday at nares Center in Antipolo. San Miguel eyes its 12th Philippine Cup title and 31st PBA crown, while TNT seeks its seventh title in the All-Filipino conference and 12th in the league overall.

Perez noted that

TNT has a strong interior with Brandon Ganuelas-Rosser, JP Erram, Kelly W illiams and Henry Galinato. Rey Nambatac and Jordan Heading provide stability at the backcourt.

S an Miguel had beaten TNT in their last two Philippine Cup title showdowns in Seasons 47 and 49.

TNT won over the Beermen in their first All-Filipino title series in Season 36 in 2011. TNT claimed the Philippine Cup crown in 2021 with Mikey Williams showing the way.

The Topang 5G beat Meralco in the semifinals in Game 5, 99-96, to advance to the championships round.

Averaging 18.0 points, 3.4 rebounds and 2.8 assists in the semifinal series, Perez surprised Ginebra in Game 6 with a career-high 41 points—30 points in the first quarter on a perfect 12-of-12 hot shooting from the field highlighted by three triples—that gave SMB a 3925 first quarter advantage.

“Closing out a series is one of the hardest, so I took advantage when I was at the right timing, even June Mar was encouraging me to take the shot. I just focused and went all out,” Perez added. “I am hoping to get my fourth PBA title.”

June Mar Fajardo averaged 16.8 points, 19.2 rebounds and 3.0 assists but was limited to four points in Game 6, although he still collected 18 rebounds and made three assists.

Former Adamson hotshot Don Trollano had 23 points, 11 points in the last period, plus eight rebounds.

“I was so a grateful that we are the right time when we made our shots, particularly Don [Trollano]. He was so important in the last quarter, and our defense as well. I hope we sustain it or double that effort in the finals,” he said.

Winner of the star-studded International Series Philippines at Sta. Elena last year, Tabuena goes for another b ig win at The Country Club also in Santa Rosa in Laguna. The TCC Invitational fires off on Jan. 27 at one of the country’s most exacting layouts.

The field is stacked with past champions and the Top 30 finishers from the last Philippine Golf Tour Order of Merit, ensuring that no margin for error exists across the grueling 72-hole championship. Serving as the traditional kickoff leg of every Philippine Golf Tour s eason, the TCC Invitational also remains the biggest event in local golf in terms of prize. The sponsoring ICTSI has raised the stakes anew, bumping the total purse to P6.5 million, reinforcing its status as the c rown jewel of the domestic circuit, with every leg guaranteeing at least P2 million.

TCC Invitational champion in 2017, Tabuena will undoubtedly carry the proverbial bull’s-eye on his back. He enters the event fresh off a stellar campaign on the Asian Tour International Series, where he finished third i n the Order of Merit. in this blue-ribbon event held in honor of ICTSI founder Don Pocholo Razon.

Tabuena came agonizingly close to an automatic LIV Golf berth, with only the top two earning direct entry. He later earned another shot through LIV Golf Promotions but faltered in the decisive third round. Still, those near-misses do little to dent his reputation. If anything, it highlight his a bility to contend under immense pressure and against elite competition. A t TCC, where patience, precision and course management are