BusinessMirror January 20, 2026

By Lenie Lectura & Samuel P. Medenilla

AZON -LED Prime

Energy

Resources Development

B.V., operator of Service

Contract (SC) 38, has delivered on its commitment to the government to find new natural gas reservoir at Malampaya East 1 (MAE1), located about 5 kilometers east of the existing Malampaya gas field, boosting the existing field’s remaining recoverable volumes by an estimated 30 percent.

Prime Energy on Monday hailed the discovery of MAE-1 as a breakthrough for Philippine energy in-

dependence. The find, announced by President Ferdinand Marcos Jr., is the first natural gas discovery in Philippine territory in over a decade.

“This gas discovery is a victory for the Filipino people,” the company said. “When we assumed operatorship, we committed to the President and the nation to breathe new life into Malampaya and revitalize the indigenous natural gas sector. Today, we are delivering on that commitment,” the company said in a statement.

SC 38 is composed of Prime Energy, UC38 LLC, PNOC Exploration Corporation, and Prime Oil and

Gas Inc. The contract was extended by the Marcos administration in 2023 for a final 15 years or until 22 February 2039. This will allow for the continued production of the Malampaya gas field, ensuring that the remaining gas reserves are further explored and utilized.

Commitments ASIDE from continuing the production operations, the SC 38 consortium is required to conduct a minimum work program consisting of geological and geophysical studies and the drilling of at least two deep water wells during the subphase 1 from 2024 to 2029.

This firm work program is geared towards unlocking the potential both in the existing gas field and nearby prospect areas to provide incremental production. In addition, the conduct of exploratory drilling further away from the Malampaya production area within the service contract is a requirement for the consortium to retain the exploration areas. If it fails to comply, the SC 38 consortium must relinquish a portion of the exploration areas. Also, the SC 38 consortium is required to submit a decommissioning plan and budget covering the

IMF CUTS PHL GROWTH OUTLOOK FROM ’25 TO ’27

By Reine Juvierre S. Alberto @reine_alberto

THEInternational Monetary Fund (IMF) sees the “slower pace” of capital accumulation to drag Philippine economic growth until 2027, according to IMF’s World Economic Outlook (WEO) Update.

IBy Andrea E. San Juan @andreasanjuan

F the “Big, Bold Reforms” of the government do not produce the “kind of fruits” that would restore public confidence in the country, the Philippine peso could swing to P60 to a dollar, a former Deputy Governor of the Bangko Sentral ng Pilipinas (BSP) warned. “Well if nothing happens as far as governance and corruption is concerned, probably the peso can swing significantly or violently to the other side,” Former BSP Deputy Governor Diwa Guinigundo said in a televised

interview on Monday.

He pointed out further: “If those big, bold, reforms do not produce the kind of fruits, the kind of results that people are expecting in terms of restoring public confidence and nurturing partnership with business, then we are looking at the more significant swing of the peso.”

On Friday, the national government unveiled a slate of its “big, bold reforms” to address investor concerns and renew its push for investments amid last year’s economic growth slowdown. Should these government reforms fail to materialize, the

By Reine Juvierre S. Alberto @reine_alberto

THE Philippine external debt service burden (DSB) dipped by nearly 23 percent to $11.02 billion in the first 10 months of 2025, according to the Bangko Sentral ng Pilipinas (BSP).

Latest data from the BSP showed the DSB declined by 22.9 percent to $11.02 billion in the January to October 2025 period, from $14.3 billion in the same period in 2024. DSB is the total principal and interest payments the country has to pay after the debt has been rescheduled. The bulk of the DSB during the

10-month period consisted of interest payments amounting to $6.507 billion, a 2.09 percent year-on-year decline from $6.646 billion. On the other hand, principal payments went down by 41.04 percent year-on-year to $4.513 billion from $7.654 billion in the same 10-month period

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Based on the October 2025 World Economic Outlook (WEO) published by the IMF, the Philippine economy would grow by 5.4 percent in 2025 and 5.7 percent in 2026. However, based on the WEO report it published on Monday, IMF expects the Philippine economy will grow by only 5.1 percent in 2025 and 5.6 percent in 2026.

Meanwhile IMF’s earlier growth projection for the Philippine economy in its December 2025 staff report showed that the Southeast Asian country would grow by 6.1 percent in 2027.

This, however, has been trimmed down by the multilateral lender as it now projects the Philippine economy to grow by only 5.8 percent next year.

The IMF explained that risks to the growth outlook are tilted to the downside.

“The main external downside risks include an escalation of trade restrictions and prolonged uncertainty, geopolitical tensions, and disruptive financial market corrections,” the IMF said.

Meanwhile, the multilateral lender sees “extreme climate events and lower-than-expected reform momentum” as domestic downside risks.

“On the upside, accelerated implementation of structural and governance reforms can boost investment and FDI, increase fiscal multipliers and boost potential growth,” added IMF.

The Philippine government expects the economy to grow by 5.5 to 6.5 percent in 2025; 5 to 6 percent this year; 5.5 to 6.5 percent in 2027 and 6 to 7 percent in 2028.

PHL rice production inches up 3% to 19.68MMT in ’25

By Ada Pelonia @adapelonia

THEcountry’s rice output settled at 19.68 million metric tons (MMT) in 2025, falling short of reaching another record harvest.

Data from the Philippine Statistics Authority (PSA) showed that the country’s rice production last year inched up by 3 percent from the 19.09 MMT recorded in 2024.

Albeit higher, the latest figures failed to surpass the all-time-high palay output in 2023 at 20.06 MMT. Despite this, the paddy rice pro -

Malampaya…

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abandonment of wells and decommissioning of facilities in accordance with applicable international standards, to include timing and costs, within 30 calendar days from the effectivity of the renewal agreement for approval

duction posted was within the range projected by the Department of Agriculture (DA) between 19.61 MMT and 19.89 MMT, a downward adjustment from its initial forecast.

The DA said it lowered its estimates for the country’s palay output last year due to fourth-quarter typhoons that ravaged local planta -

by the Department of Energy (DOE).

“They only started [drilling] in January last year...At end of last year, they already discovered it. They were just nervous, they just wanted to make sure that it was really there and the pressure was there before they announce.

tions.

Meanwhile, PSA data also indicated that while palay production in irrigated farms also posted year-on-year increments in 2025, rainfed palay production declined.

The production of irrigated farms grew by 4 percent, reaching 15.15 MMT from the previous year’s 14.56 MMT. Rainfed farms produced 4.52 MMT, 0.12 percent lower than the 4.53 MMT recorded in 2024.

The palay output of Central Luzon, the country’s rice granary, rose to 3.54 MMT from the previous year’s 3.48 MMT. The region maintained its position as the country’s top rice-producing region in 2024.

“So, number one, they discovered it. Then they’re drilling now simultaneously. So, there’s more to come, there’s, I think, Bagong Pag-asa and Camago. So, let’s wait in a few months. I hope we have more good news. Because that’s an additional resource for us,” DOE Secretary Sharon Garin said during an interview with “Gising Pilipinas” on Monday.

The next phase of the Malampaya 4 drilling campaign involves the completion and testing of Camago-3, followed by the drilling of Bagong Pag-asa exploration well, Prime Energy said.

In line with this, the DOE will continue to work closely with the consortium and relevant agencies to ensure timely, compliant, and transparent next steps, covering technical evaluation, development planning, and all required regulatory and environmental safeguards, so that potential benefits are converted into real, dependable supply for the grid when ready.

Malampaya Phase 4 has been certified as a Project of National Significance. Since inception, the Malampaya project has generated more than $13.9 billion in revenues for the Philippine government, while significantly reducing dependence on imported fuels.

“We thank President Marcos for his leadership, particularly for approving the extension of SC38 and for the enactment of the Philippine Natural Gas Industry Development Act, which provides the stability and confidence needed to pursue continued exploration of additional gas resources,” Prime Energy added.

Energy security

THE discovery, estimated at around 98 billion cubic feet of gas in place, with initial test flow of 60 million cubic feet per day and associated condensate, is a strong signal that sustained, sciencebased exploration unlocks indigenous energy resources that directly strengthen our long-term energy security.

“This milestone is a testament to the world-class capability of Filipino engineers in securing our country’s energy future,” said Garin. “Reliable power fuels our everyday life: the lights in our homes, the continuity of work and enterprise, and the stability our schools, hospitals, and communities depend on.”

The estimated 98 BCF of natural gas at Malampaya East 1 underscores its potential contribution to national energy supply. This volume is equivalent to approximately 13.9 billion kilowatt-hours (kWh) of electricity, enough to power an estimated 5.8 million households for one year. It is likewise sufficient to illuminate around 2.78 million streetlights continuously for a year and support the annual electricity requirements of about 198,450 public elementary and high schools.

These highlight the strategic

Cagayan Valley, another big rice producer, trailed behind at 3 MMT. This was higher than the 2.92 MMT posted in the previous year.

Yellow, white corn PSA data also indicated that corn output rose by 2.22 percent to 8.32 MMT in 2025 from the 8.14 MMT recorded in the previous year. Yellow corn, which is a critical ingredient for animal feeds, increased by 2.11 percent to 6.36 MMT last year from 6.23 MMT in 2024. White corn also registered an uptick year-on-year to 1.96 MMT in 2025 from 1.91 MMT in the previous year.

value of indigenous natural gas in supporting households, public services, and economic activity while reinforcing long-term energy security. According to the chairman of the Senate Committee on Finance, the discovery of a new natural gas source is a major win for the country’s energy sector as this is a significant boost to the country’s energy security. “At a time when energy security continues to be an obstacle to faster economic growth, this development offers an opportunity to reduce reliance on expensive imported fuel,” said Senator Sherwin Gatchalian.

“Every cubic foot of natural gas sourced from our own territory is a step toward enhancing our energy security for the benefit of various local industries particularly micro, small and medium industries,” added the lawmaker.

‘Cheaper power rates soon’ GARIN said the new gas discovery eventually spells cheaper and more reliable electricity.

“Not immediately. But yes, that’s part of the DOE’s plan that when all our renewables come in, maybe in a few years, it will go down because our supply will increase...They still need their smart scientists and engineers, they need to set up the entire system. So, we will know that and it will be part of our system within the year, let’s just wait,” the energy chief added.

The Philippines seeks to increase the renewable energy (RE) share in the power generation mix to 30 percent by 2030 and 50 percent by 2040 under the Philippine Energy Plan. Natural gas power plants complement this transition as these operate with the daily intermittency of most RE sources and emit approximately 50 percent less carbon dioxide than coal-fired generation.

The Malampaya gas field supplies up to 40 percent of Luzon’s energy demand. Since beginning operations in 2001, the Malampaya project has generated $13.9 billion in revenues for the government.

Similar good news

ENERGY chief Garin said the country awaits similar good news in the months to come as more gas wells are being drilled.

President Ferdinand “Bongbong” Marcos Jr. announced the discovered reservoir, Malampaya East 1, located about 5 kilometers east of the existing Malampaya gas field. It is estimated to contain around 98 billion cubic feet of gas in place. This is equivalent to almost 14 billion kilowatt hours of power in one year, supplying power to more than 5.7 million households, 9,500 buildings, or almost 200,000 schools in one year.

making it more inclusive, then we move to powering jobs. How do we maximize all Asean agreements for job opportunities and trainees for the energy sector? For example, if the other Asean countries are developing their own market, how will our market operators have that opportunity to work there? And how will our linemen also have the opportunity to work within the Asean region?

“Then after the jobs, we are also looking into fostering innovation,” said Fuentebella.

To support the conduct of the meetings, the DOE is working closely with the National Organizing Council, and the Provincial Government of Bohol and Municipality of Panglao.

The DOE also looks forward to the support of ACMobility in providing electric vehicles (EV) during the Bohol meetings. This complements the DOE’s broader efforts to expand EV adoption.

“As chair, the Philippines is committed to ensuring our collective efforts deliver tangible benefits, from powering homes and businesses to strengthening resilience and supporting inclusive growth for all Asean peoples, while fostering partnerships that reinforce our shared prosperity and security,” Fuentebella said.

10 months of 2025 from the 11.5 percent posted in the same period in 2024.

The DSB to GDP ratio also declined to 2.9 percent in January to October 2025 from the 3.9 percent recorded in the same period of 2024. BSP data showed the DSB to Gross National Income (GNI) ratio declined to 2.5 percent in the 10-month period of 2025 from 3.4 percent in the same period of 2024.

The central bank explained that the debt service burden consists of principal and interest payments on fixed medium- and long-term (MLT) credits including International Monetary Fund (IMF) credits, loans covered by the Paris Club and commercial banks’ rescheduling, and New Money Facilities. Also included are interest payments on fixed and revolving shortterm (ST) liabilities of banks and non-banks. However, it excludes prepayments on future years’ maturities of foreign loans and principal payments on fixed and revolving ST liabilities of banks and non-banks.

Automation, rising capital requirements, and changes in global production have reduced manufacturing’s capacity to generate employment at scale.

As a result, the authors said services are likely to remain the main source of jobs going forward. This places greater weight on whether services can generate productivity gains, not just employment.

To address this, PIDS proposed an umbrella framework focused on improving management quality and practices, fostering business innovation, strengthening workforce development, and expanding technology adoption.

“Different government agencies provide various types of assistance to workers and MSMEs. A strategic framework that integrates key policy areas—labor market, enterprise and industry development, technology, innovation, and structural reform— can help maximize the impact of public interventions towards increasing productivity in services,” it added.

Lawyer files impeachment case vs Marcos

By Jovee Marie N. dela Cruz @joveemarie

AN impeachment complaint against President Marcos has been formally filed with the House of Representatives, following its endorsement by Pusong Pinoy Partylist Rep. Jernie Jett Nisay.

Nisay endorsed the complaint on Monday, marking the first impeachment move initiated against Marcos since the start of his administration. The complaint was prepared by private citizen and lawyer Andre de Jesus and was received by House Secretary General Cheloy Garafil.

Garafil said the complaint was received at 8:45 a.m. at the House of Representatives.

She added that the complaint will be transmitted to Speaker

Faustino G. Dy III in accordance with the 1987 Constitution and the Rules of the House of Representatives.

The impeachment complaint lists six grounds, including culpable violation of the Constitution, graft and corruption, and betrayal of public trust.

“From the outset of his term, his administration has been plagued with corruption scandals, budgetary manipulation, and systemic misuse of public

No factual, legal basis–Dy

SPEAKER Faustino G. Dy III

on Monday dismissed the impeachment complaint filed against President Marcos, saying there is no factual or legal basis to justify the move.

In a statement, Dy said that Marcos is clearly fulfilling the mandate entrusted to him by the Filipino people and is performing his duties in accordance with the law.

“We do not see any basis that would justify the impeachment complaint filed against President Marcos, It is clear that our President is carrying out the mandate given to him by the people, in accordance with the law,” Dy said.

The Speaker underscored that impeachment is a serious and rigorous constitutional process that should not be taken lightly or used for political purposes.

“Impeachment is not a trivial matter. It is a heavy and meticulous process. It is the responsibility of the House of Representatives, under the Constitution, to receive and examine such complaints— and this must be done with utmost caution and respect for the Constitution. It should not be used for political maneuvering or to sow division,” he added.

Dy also emphasized that as Congress resumes session, the House remains focused on passing meaningful legislation that will genuinely uplift the lives of Filipinos.

“As we reopen the session, the House is focused on the passage of substantive laws that will truly improve the lives of the Filipino people,” the Speaker said.

‘Steep, difficult path’ OTHER leaders of the House of Representatives said the impeachment complaint filed against Marcos will be processed in accordance with the Constitution and House rules but cautioned that, based on what is publicly known so far, the case faces a “steep and difficult path” in the chamber.

Manila Rep. Joel R. Chua, chairman of the House Committee on Good Government and Public Accountability, said the complaint will undergo the required initial consideration, including evaluation for sufficiency in form and substance, with no shortcuts or pre-judgment.

“As with any impeachment complaint, the House of Representatives will accord it the initial consideration required

See “Dy,” A4

FMJr undeterred by complaint

By Samuel P. Medenilla @sam_medenilla

MALACAÑANG said President Marcos has committed to maintain the country’s stability despite the impeachment complaint filed against him.

In a statement, Palace Press Officer Claire Castro said the Chief Executive respects the decision of a lawmaker to attempt to remove him from power through impeachment as part of the country’s democratic process.

“Our institutions are strong, our processes are clear, and the administration remains committed to stability, accountability, and the betterment of every Filipino,” she said. However, she assured that Marcos will not be distracted by the complaint and still continue to perform his mandate.

“While these processes take their course, the President will continue to govern, ensuring that public services remain uninterrupted and

funds—all traceable to decisions made or sanctioned at the highest level,” said de Jesus.

De Jesus cited several alleged acts, among them is what he described as the “abduction” of former President Rodrigo Duterte and his transfer to The Hague to face crimes against humanity charges before the International Criminal Court (ICC).

“Respondent compromised national sovereignty and constitutional order when he caused the arrest and forcible transfer of former President Rodrigo Duterte to the International Criminal Court, an act that shocked the nation and violated fundamental principles of due process,” he said.

“This surrender of a former president to a foreign tribunal is a direct affront to national sovereignty and a blatant violation of constitutional guarantees of due process,” he added.

He also raised concerns over the alleged failure of the President to veto unprogrammed appropriations under the national budget.

“Respondent was grossly negligent in failing to veto unprogrammed appropriations in the 2023, 2024, 2025, and 2026 GAB [General Appropriations Bill] omissions that indubitably amount to betrayal of public trust,” he said.

By negligently failing to exercise his veto powers, the complainant said Marcos subverted the power of the purse and violated the Constitution he swore to uphold.

“He failed to veto unconstitutional provisions in multiple national budgets, despite his clear duty to do so. The respondent failed to veto the provision in the 2024 national budget, which the Supreme Court voided for being unconstitutional,” he added.

The complainant further claimed that Marcos should be held accountable for the alleged flood control fund irregularities and the purported use of the Independent Commission for Infrastructure (ICI) as a “weapon” to shield political allies and target perceived opponents.

“The proliferation of ghost

flood control projects nationwide confirms the existence of a coordinated and deliberate effort to plunder public funds. Such largescale corruption could not have occurred without presidential approval,” he said.

“I feel that the ICI has been weaponized by the government in order to protect his allies, the respondents, President Marcos’ allies, and target political enemies,” he added.

De Jesus, likewise, questioned the president’s fitness to lead the country, alleging drug addiction.

“Compounding these grave offenses are persistent and credible allegations that the respondent is a longtime user of illegal drugs—an allegation he has never squarely denied or disproven—rendering him manifestly unfit to govern,” he said.

“It’s an issue that has been dodged by Malacañang. They’re just sweeping it under the rug,” De Jesus said, “We have not heard from the president going through a procedure to debunk all these

rumors that he is addicted or is using prohibited drugs.”

De Jesus said that, based on the foregoing premises, the complainant most respectfully prays that the House of Representatives impeach Marcos for graft and corruption, culpable violation of the Constitution, and betrayal of public trust, and transmit the Articles of Impeachment to the Senate for trial and conviction. The complainant, likewise, prays for such other just and equitable relief under the premises. For his part, Nisay said the impeachment complaint raises issues that the public wants addressed and should be discussed in the proper forum. He stressed that under the Constitution, public office is a public trust and that no one, including the President, is above the law.

Nisay added that those found to have committed wrongdoing must be held accountable, noting that he carefully studied the impeachment complaint before endorsing it.

Navy gets boost with arrival of new OPV

By Rex Anthony Naval

THE Navy’s (PN) capability to protect the country’s vast waters was boosted with the arrival of offshore patrol vessel (OPV), BRP Rajah Sulayman (PS20), late last week.

In a statement on Monday, the Navy’s Public Affairs Office director, Cdr. Marie Angelica Sisican, said BRP Rajah Sulayman’s arrival marks another addition to the Navy’s growing modern fleet.

The vessel was met in waters off Zambales by BRP Jose Rizal (FF-150), the Navy’s first missilecapable frigate, as part of standard naval protocols upon entering Philippine waters.

After completing coordination and meeting procedures at sea, the

future BRP Rajah Sulayman will begin post-delivery activities and technical checks.

“The ship is scheduled to undergo acceptance and pre-com -

that the work of government stays focused on improving the lives of our people,” Castro said.

“Our institutions are strong, our processes are clear, and the administration remains committed to stability, accountability, and the betterment of every Filipino,” she added.

The complaint, which was endorsed by Deputy Minority Leader Jernie Nisay, the nominee to the House of the party-list group Pusong Pinoy.

The attempt to remove Marcos from office comes amid reports that another new impeachment complaint will be filed against Vice President Sara Duterte by next month.

In December 2024, Congress pushed through with its impeachment complaint against Duterte for her alleged illegal use of confidential funds of the Office of the Vice President and the Department of Education.

The impeachment complaint was later declared unconstitutional by the Supreme Court.

missioning processes prior to its formal entry into active service, which underscores the PN’s commitment to strengthen its maritime defense and law enforcement

capabilities through a modern, multi-domain, and self-reliant force,” Sisican said.

BRP Rajah Sulayman and its five sister ships were ordered from South Korean shipbuilder, HD Hyundai Heavy Industries.

The contract for these OPVs was worth P30 billion and was signed in the last days of June 2022.

Named after a fearless native leader who stood firm against foreign conquest in pre-colonial times, the PN said BRP Rajah Sulayman is a modern emblem of the Filipino people’s resilience, courage, and unyielding spirit of independence.

The ship was launched on June 11, 2025 at the HD Hyundai Heavy Industries shipyard in Ulsan, South Korea.

AFP committed to transparency, accountability in use of funds

HE Armed Forces (AFP)

Ton Monday said that it remains committed to transparency, accountability, and strict adherence to governing policies in the management of public funds.

In line with this, the AFP, in a statement, acknowledged the Commission on Audit’s (COA) findings on P201.86 million in unliquidated cash advances and P72.86 million in unauthorized bank accounts.

It also views these as part of a constructive process that strengthens governance and fi -

nancial discipline.

“On unliquidated cash advances, the AFP, through the AFP Accounting Center and in coordination with the AFP Finance Center, has implemented corrective measures, including the withholding of salaries of accountable officers, issuance of demand letters, and the pursuit of administrative and legal remedies to recover outstanding obligations,” the AFP saidd.

It also added that efforts are also underway to track accountable officers who are no longer in the service and to recover public

funds in full compliance with COA directives.

“On unauthorized bank accounts, the AFP has taken decisive steps to regularize and close the accounts cited in the audit. The AFP Medical Center has closed the account for the PCSO Endowment Fund, the Presidential Security Command has completed the closure of its two accounts, and the Eastern Mindanao Command has undertaken corrective actions to ensure full compliance with government financial policies,” the AFP said.

CIDG receives tips on Atong Ang’s whereabouts

THE National Police–Criminal Investigation and Detection Group (PNP-CIDG) said Monday it has received tips on the possible whereabouts of fugitive businessman Charlie “Atong” Ang and is validating the information.

Col. John Guiagui, CIDG chief in the National Capital Region (NCR), said 17 tipsters have messaged the CIDG hotlines regarding Ang’s possible locations.

“Mayroon nang nagbigay ng mga information at ito ay vina-validate ng aming [Intelligence] Division

[Some have already given information and these are being validated by our Intelligence Division],” the CIDG information chief, Maj. Helen dela Cruz, said in a press briefing at Camp Rafael T. Crame in Quezon City.

“We have searched more than 10 locations already…We have received more than 10 text messages…that we are validating,” Guiagui said.

Beyond addressing these findings, the AFP said it continues to strengthen its financial systems, internal controls, and accountability mechanisms to prevent recurrence and sustain reforms, while ensuring uninterrupted support to the welfare and well-being of its personnel.

“Good governance remains central to the AFP’s mandate. We remain steadfast in cooperating with oversight bodies and in continuously improving our practices in the best interest of our soldiers and the Filipino people,” it added. Rex Anthony Naval

Phivolcs reports 19 volcanic quakes at Mayon, 11 at Kanlaon

By Jonathan L. Mayuga @jonlmayuga

INCREASED seismic activities were recorded at Mayon Volcano in Albay and Kanlaon Volcano on Negros Island over the past 24 hours ending at midnight on Sunday, the Philippine Institute of Volcanology and Seismology (Phivolcs) reported. In its summary of 24-hour observation on Sunday, Phivolcs said Mayon’s activity is still

Spike in electricity rates hit Davao

By Manuel T. Cayon @awimailbox

DAVAO CITY—Electricity rates have shot up in the Davao franchise area of the Aboitizowned power distributor with the increase blamed largely on the outages in power plants in Mindanao.

The Davao Light and Power Co. Inc. announced on Friday that customers “will see an increase in their electricity bills received from January 11 to February 10 due to a higher generation charge.” It said the overall residential rate is P11.7187 per kilowatt-hour

(kWh), an increase by P2.0052/ kWh from P9.7135/kWh last December.

“This is due to higher power supply prices from the Wholesale Electricity Spot Market [WESM] caused by several power plant outages in the previous month. These outages contributed to higher market prices, reflecting market conditions beyond any distribution utility’s control,” it said.

Additionally, Davao Light said, “the implementation of the new government charge, the Green Energy Auction Allowance [GEA-All] under Energy Regulatory Commission [ERC] Case 2025-127 RC dated December 26, 2025, contributed to the overall increase.”

It added, the decreased FeedIn Tariff Allowance (FIT-All) rate and the new pass-through charge, the Renewable Energy Certificate (REC) rate under ERC Resolution 12, Series of 2024, “tempered the increase, with the latter reflected in electric bills as a refund of P0.0070/kWh.”

It said that Davao Light “remits generation charges to power suppliers, while government-mandated fees are forwarded to the appropriate state agencies.”

Since monthly bills are based on electricity consumption and rates, the distribution utility encourages customers to continue efficiently managing their electricity use to avoid bill shock.

One householder in Catalunan Grande said he was surprised by the rate surge. He said he was using electricity at a daily average of 12 kW, or a monthly average of 360 kW, and was charged P3.303.10 in November and P3,264.16 in December. His recent bill for January is P4,322.

Fermin Edillon, head of the Reputation Enhancement Department, said that “going back to basics is key to managing electricity consumption.”

“Let us focus on simple daily habits and maximizing natural resources such as sunlight and air. These may seem insignificant, but once we receive our electric bill, we will see its big impact.”

Why companies still need effective middle managers

By Henry J. Schumacher

ARE we eliminating the middle manager?

No. Middle management isn’t disappearing.

Companies are flattening their organization charts in many cases to cut costs and accelerate decision-making. Take a little economic pressure from here, some AI automation for administrative tasks from over there, add a pinch of salt, and bam—fewer management openings. Yet, while the number of jobs may be shrinking, the need for the primary functions of middle managers is as strong as ever. They’re the conduit, in both directions, between upper management and the teams doing the day-to-day

AMARYLAND-based clean energy company is proposing to invest about US$200 million in a hydrogen-powered electricity project inside the Aurora Pacific Economic Zone and Freeport (Apeco). Ally Power, Inc. is planning a 128-megawatt power generation facility that would use hydrogen technology, with the proposed site covering around 20 hectares within the ecozone. The project is among the priority investments currently being studied by Apeco management.

Continued from A3 under the Constitution and our Rules,” he said.

“The complaint will be received, evaluated for sufficiency in form and substance, and processed in accordance with established procedures. There will be no shortcuts, and there will be no pre-judgment,” he added.

Chua, however, said that based on publicly available information, no issue has emerged that clearly rises to the level of an impeach -

work of the business.

“The primary role of a ‘middle manager’ has often been viewed as translating expectations, perspectives, and priorities between senior leadership and those closest to the work,” said Jenn Christison, a principal consultant at Seven Ways Consulting.

“For example, senior leadership sets an edict. It is the middle manager’s job to understand the implications for their teams and translate high-level direction into actionable next steps. And when their teams push back or offer suggestions, it is the middle manager who must find a way to translate their practical considerations into ‘strategic imperatives’ that will resonate with the C-suite.”

Less attention is given to the equally important task of ensuring effective collaboration across functional silos, Christison said.

“Middle managers are in the unique position of hearing perspectives from all angles of their organization: the top, bottom, and sides. Their bosses give them direction, their direct reports give them the lay of the land, and their peers give them insights into the gaps

“The proposed project is being considered as part of broader efforts to address Aurora’s power challenges and improve the province’s long-term energy reliability, which is critical in attracting investments and supporting ecozone development,” Apeco President and Chief Executive Officer Gil Taway IV said during a briefing at the authority’s Casiguran headquarters. Taway said the project remains at the evaluation stage, with technical, investment, and regulatory considerations still under review.

able offense as defined by the Constitution.

“It must be stated frankly that, based on what is publicly known at this point, the complaint faces a steep and difficult path in the House,” he said.

“Impeachment is a constitutional remedy of last resort. It requires clear, specific, and wellsubstantiated allegations of impeachable offenses, not conjecture, political disagreement, or generalized accusations,” he said.

“So far, no issue has emerged that clearly rises to the level of an impeachable offense as defined by

Any power supply arrangements resulting from the proposal will be structured in accordance with the Electric Power Industry Reform Act (Epira) and the relevant rules of the Energy Regulatory Commission.

Ally Power will lead the technical and investment studies for the proposed facility, while Apeco will assist in coordinating activities within the ecozone, consistent with its mandate to promote sustainable economic development in Aurora.

For its part, Ally Power said

the Constitution.”

He stressed that this initial assessment does not excuse the House from its constitutional duty, saying lawmakers will examine the complaint on its face and determine whether it meets constitutional and jurisprudential standards.

“The House will examine the complaint on its face, determine whether it meets constitutional and jurisprudential standards, and act accordingly—guided by reason, evidence, and law, not by noise or pressure,” Chua said.

New rules

CHUA also noted that the House will be guided by the new rules and parameters laid down by the Supreme Court in its recent decision on impeachment proceedings. While the House has filed a motion for reconsideration and is awaiting final action from the High Court, he said the chamber will observe the doctrines currently in force and ensure consistency with prevailing jurisprudence.

“The impeachment power is a grave responsibility. It must be

between,” she said. “As organizations grow ever flatter—unfortunately most often due to urgent cost cutting rather than thoughtful design—middle managers can emphasize their unique value by creating deliberate communication forums with their peers, sharing concerns, insights, and ideally, process improvements. In building effective collaboration across functional silos, middle managers will reduce significant friction and demonstrate commitment to the organization’s objectives.”

All that is to say, the middlemanagement era is far from over.

“You still need middle managers. The idea that you can remove them all and it’ll be fine is nonsense,” said Ben Hardy, a professor of organizational

the proposed investment reflects its interest in expanding clean energy infrastructure in the province.

Ed Travis, the company’s head of business development for Asia, said the company hopes to work with local stakeholders not only on power generation but also on initiatives that could support skills development.

“We hope to work with stakeholders here to not only build infrastructure, but also to build great jobs and contribute to academic programs for the future

exercised with institutional restraint, fairness, and fidelity to the Constitution,” he said. “The House will give the complaint the consideration the law requires—but it will also uphold the principle that impeachment must be grounded on serious, demonstrable constitutional violations, not political dissatisfaction.”

Bukidnon Rep. Jonathan Keith T. Flores, vice chairperson of the House Committee on Justice and chairman of the House Committee on Dangerous Drugs, echoed Chua’s position, saying the complaint will be processed in the ordinary course under the Constitution, House rules, and Supreme Court parameters.

“The impeachment complaint filed today will be processed by the House of Representatives in the ordinary course, in accordance with the Constitution, House Rules, and the current parameters laid down by the Supreme Court, pending final resolution of the House’s Motion for Reconsideration,” said Flores.

Flores emphasized, however, that impeachment is not evaluated in a vacuum and ultimately

Post-Odette housing repair payouts resume in

Cebu towns

By Bless Aubrey Ogerio

HOUSING repair assistance for families affected by Typhoon Odette has resumed in parts of Cebu, with the National Housing Authority (NHA) Region 7 releasing more than P14.8 million in cash aid under its Emergency Housing Assistance Program (Ehap).

NHA data indicate that 1,544 families in the towns of Balamban and Asturias received P10,000 each to help cover repairs to homes that were assessed as “totally damaged.” Of the total beneficiaries, 1,144 families were from Balamban, while 400 were from Asturias.

behavior at London Business School. “You need people to coordinate between parts of the organization, and employees like to report to a person. AI has, in some cases, been a disappointment. The promise is good, as it was with offshoring call centers, but things that look like simple tasks often aren’t.”

I am quoting the views of the two experts to emphasize the enormous value of middle management, As mentioned above, they are the needed conduit between upper management and the teams who are successfully implementing the strategies that lead to the good performance of companies. I look forward to your responses; contact me at hjschumacher59@ gmail.com

of our young people as well,” Travis said.

As part of its longer-term plans, Ally Power is also exploring a possible partnership with the Aurora State College of Technology for the establishment of a Clean Energy Center of Excellence aimed at developing capabilities in green energy technologies.

Apeco said details of the proposed power project, as well as any related partnerships, will be covered by separate agreements should the initiative move forward. Bless Aubrey Ogerio

requires broad institutional support and a clear showing of grave grounds.

“At present, the House reflects a clear supermajority across political parties that continues to support President Ferdinand Marcos Jr. and the stability of his administration,” he added.

He added that lawmakers are mindful of their responsibility to uphold continuity and institutional stability and to avoid actions that could unnecessarily disrupt the country’s economic and social recovery.

While stressing that the complaint will receive the consideration required by law, Flores said it would be inaccurate to ignore the prevailing judgment of the overwhelming majority of House members, who may see no basis at this time for removing a duly elected President.

“The House remains committed to its constitutional duty, but it will exercise that duty with prudence, restraint, and a clear sense of the national interest,” he said.

Both lawmakers assured the public that the House will act deliberately, transparently, and within

The list of beneficiaries was based on validated assessments and Disaster Response Operations Management, Information and Communication (Dromic) reports of the Department of Social Welfare and Development, as submitted and verified through the concerned local governments, the agency said.

The latest payouts form part of the continuing rollout of Ehap assistance for communities hit by Typhoon Odette, which struck Central Visayas in December 2021. NHA Region 7 resumed the distribution of housing repair aid for Odetteaffected families in December 2025, beginning with 5,787 beneficiaries in Carcar City, Cebu.

Ehap is one of the NHA’s ongoing programs for low- and marginal-income households whose homes were damaged or destroyed by natural or man-made disasters.

The program provides cash grants intended to support basic repairs or rebuilding, depending on the extent of damage to the dwelling.

NHA Region 7 said additional Ehap payouts are scheduled in the coming months as assessments are completed and beneficiary lists are finalized.

the bounds of the Constitution as it processes the impeachment complaint.

Accountability IN filing the impeachment complaint, lawyer Andre de Jesus remained undeterred by the slim chances of his impeachment complaint against Marcos moving forward, despite the fact that a majority of congressmen are allies of the administration.

Asked if he was confident of securing support in Congress, de Jesus said political numbers should not stand in the way of accountability. He added that even if his complaint ultimately fails, he believes filing it was the right thing to do.

“The only way for evil to triumph is for good men to do nothing. And if someone does something, at the very least, in my case, I could rest at night knowing I at least tried to do the right thing, win or lose,” he said. For de Jesus, the number of lawmakers who might oppose his complaint is immaterial.

AIPA chief, Speaker Dy push for peace, prosperity as PHL assumes ‘26 presidency

ASEAN Inter-Parliamentary Assembly (AIPA) Secretary-General Dr. Chem Widhya and House Speaker Faustino “Bojie” G. Dy III on Monday jointly underscored a people-centered, resultsdriven agenda as the Philippines formally launched its presidency of the 47th AIPA.

Speaking at the official launch of the Philippines’ AIPA Presidency, Widhya expressed strong confidence in the Philippines’ leadership of AIPA in 2026, saying the country is well-positioned to translate ASEAN’s shared vision into concrete gains for ordinary citizens.

“I am confident that under the Philippines’ able leadership, AIPA will further strengthen its role as a vital bridge between ASEAN’s collective vision and the fulfillment of the aspirations of its peoples,” said Widhya, a distinguished Cambodian diplomat who will serve as AIPA secretary-general from 2026 to 2028.

“May this lofty presidency deepen our shared ASEAN identity, elevate parliamentary diplomacy, and reaffirm our collective commitment to a peaceful, prosperous, and people-centered ASEAN Community,” he added.

Widhya congratulated Speaker Dy, who will serve as AIPA president for 2026, and Pangasinan Rep. Maria Rachel J. Arenas, senior vice chair of the House Special Committee on ASEAN Affairs and lead organizer of the launch.

He described the occasion as “both symbolic and strategic,” marking “not only the commencement of a new presidency, but also the opening of an important chapter for our parliamentary community at a pivotal moment in ASEAN’s journey.”

Founded in 1977, AIPA serves as ASEAN’s parliamentary arm, bringing together national legislatures of member states to promote cooperation, harmonize laws, and support the realization of ASEAN’s regional goals through parliamentary diplomacy.

Widhya assured the Philippines of the AIPA Secretariat’s “full support and close cooperation,” saying it stands ready to work with Dy and all AIPA member parliaments “to ensure a presidency that is impactful, inclusive, and future-oriented.”

He stressed that the AIPA Presidency is “not merely a rotational mandate” but a responsibility grounded in “vision, values, and collective trust,” aimed at strengthening ASEAN unity.

Widhya said the Philippines’ chosen theme—“Parliaments Securing a Peaceful, Prosperous, and People-Centred ASEAN”— clearly defines the role of legislatures as ASEAN begins implementing the ASEAN Community Vision 2045.

“This theme underscores the indispensable role of parliaments in ensuring that regional progress remains inclusive, responsive, and firmly anchored in the lived realities of our peoples,” he said. He said the Philippine presidency advances a balanced agenda across ASEAN’s political-security, economic, and socio-cultural pillars, particularly as the region marks the 50th anniversary of the Treaty of Amity and Cooperation (TAC).

“For five decades, the TAC has served as ASEAN’s compass for peace and security,” Widhya said, adding that parliamentary diplomacy is vital amid rising geopolitical, digital, and climate challenges.

He said parliaments must also respond to economic transformation by adopting laws that “promote innovation, strengthen connectivity, support MSMEs, and ensure that growth remains sustainable and inclusive.”

Widhya emphasized that ASEAN’s success must be measured by its impact on daily life, placing education, health, social protection, culture, and youth at the center of people empowerment.

“While technology offers unprecedented opportunities, it must be governed responsibly so that innovation serves humanity, advances equity, and leaves no one behind,” he said, warning against fake content and cyber threats.

Strengthen FOR his part, Dy urged Southeast Asian legislatures to strengthen peace and prosperity by enacting credible laws, ensuring transparent processes, and delivering results that improve people’s daily lives.

In his keynote address, Dy said the Philippines is assuming the AIPA Presidency for 2026 “with humility and with a clear understanding of what this responsibility demands,” underscoring that regional cooperation must be grounded in public trust and institutional credibility.

“Our guiding theme is clear: Parliaments Securing a Peaceful, Prosperous, and People-Centered ASEAN. It reflects a fundamental truth: communities endure not on aspiration alone, but on laws that are credible, systems that are trusted, and leaders who deliver results,” Dy said.

Dy said the Philippines’ AIPA agenda is aligned with President Ferdinand R. Marcos Jr.’s commitment, as ASEAN Chair, to deepen dialogue and enhance cooperation on regional security and economic integration in a people-centered manner.

The launch comes as ASEAN marks the 50th anniversary of the Treaty of Amity and Cooperation and prepares for the admission of Timor-Leste as its 11th member state, milestones Dy said affirm that peace in the region was “built deliberately through dialogue, mutual respect, and the rule of law.”

As ASEAN looks toward Community Vision 2045, Dy said the region faces increasingly complex challenges, including economic uncertainty, security risks, and rapid technological change occurring simultaneously.

“From my experience leading the House of Representatives, one lesson stands out: public trust is built through results,” Dy said.

“People judge governance by how decisions are made, whether processes are transparent, and whether outcomes genuinely improve daily life.” He added that when laws are openly debated, carefully scrutinized, and aligned with real needs, institutions earn the confidence of the people they serve.

Dy said these principles extend beyond national borders, stressing that trust across ASEAN grows when laws are clear and resources are directed where they matter most.

DOJ tags Bonoan as co-respondent in Sen. Jinggoy Estrada plunder case

TBy Joel R. San Juan @jrsanjuan1573

HE Department of Justice

(DOJ) on Monday confirmed that former Public Works and Highways (DPWH) Secretary Manuel Bonoan is facing plunder charges over his alleged involvement in the multi-billion anomalous flood control projects in the country.

DOJ spokesman Polo Martinez said Bonoan is a co-respondent of Senator Jinggoy Estrada, who has been accused of receiving 25 to 30 percent commission from P355 million flood control projects in Bulacan in the plunder case pending before the DOJ.

“Yes, former DPWH Secretary Manuel Bonoan is a respondent in

the case filed by the NBI [National Bureau of Investigation] for plunder, among other charges. He is a co-respondent of Senator Jinggoy Estrada in the same case,” Martinez told reporters.

Martinez said a preliminary investigation on the case will be conducted once it is assigned to a panel of prosecutors, who will also issue the subpoenas to compel Estrada, Bonoan and other respondents to answer the charges.

“As of today, there is no schedule for the preliminary investigation yet. The case will be assigned to a panel of handling prosecutors,” the DOJ spokesman said.

Martinez explained that the plunder complaint does not involve a single flood control project

or locality but covers allegations of ill-gotten wealth exceeding P50 million, allegedly amassed through a series of transactions tied to flood control projects.

Under Republic Act 7080, or the Anti-Plunder Act, plunder is committed by a public official who, alone or with others, amasses at least P75 million (originally P50 million) in ill-gotten wealth through a series of criminal acts such as illegal use of funds, accepting kickbacks, or taking advantage of their position.

Martinez noted that the transactions cited in the complaint all arose from flood control-related projects.

“All of these arise from flood control projects and the transactions included in and related to

Filipino-Americans barred from using old Philippine passports, Embassy

By Malou Talosig-Bartolome

FILIPINOS who have acquired American citizenship are prohibited from using their old Philippine passports—even if still valid—for travel or official transactions, the Philippine Embassy in Washington D.C. reminded in a public advisory issued this week.

Under Philippine law, naturalborn Filipinos who become naturalized citizens of another country are considered to have lost their Philippine citizenship unless they formally reacquire it. As such, they are regarded as foreigners and subject to restrictions under Philippine passport laws.

The embassy emphasized that former Filipinos may regain their Philippine citizenship through Republic Act No. 9225, also known

as the Citizenship Retention and Re-acquisition Act of 2003.

Once reacquired, they may obtain a Philippine passport, live in the country indefinitely, own property without foreigner restrictions, vote in elections, and extend citizenship benefits to their minor children. Citizenship also unlocks professional and economic opportunities reserved for Filipinos, such as the right to engage in regulated professions and industries where foreign ownership is restricted.

However, Filipino-Americans who held dual citizenship but later renounced their Philippine nationality through formal affidavits no longer have the right to reacquire Philippine citizenship under R.A. 9225. The embassy stressed that such cases fall outside the scope of the law.

For those who choose not to

warns

reacquire citizenship, the embassy noted that they may still enter the Philippines visa-free and stay for up to one year under the Balikbayan privilege, provided they meet existing guidelines.

Those who wish to reacquire their Philippine citizenship may file applications not only at the Philippine Embassy, Consulates, or consular outreach missions abroad, but also directly at the Bureau of Immigration in Manila.

As of 2025, there are about 2.1 million Filipino immigrants in the United States, and roughly 1.6 million of them have naturalized as U.S. citizens. When combined with U.S.-born individuals of Filipino descent, the total Filipino-American population is estimated at 4.6 to 4.7 million, making them one of the largest Asian-origin groups in the country.

LTFRB warns PUVs: Strict compliance with ‘Bawal Bastos’ law mandated

By Lorenz S. Marasigan @lorenzmarasigan

THE Land Transportation Franchising and Regulatory Board (LTFRB) on Monday reminded public utility vehicle (PUV) operators and drivers to strictly comply with laws prohibiting harassment and discrimination of passengers.

LTFRB Chairperson Vigor D. Mendoza II said passenger welfare must be prioritized as stipulated in the conditions of authorities to operate, which PUV

operators accepted when they applied for franchises.

“The logic is simple here: Passengers are the lifeblood of those who engage in public transportation business. It is therefore incumbent upon them to respect them at all times,” Mendoza said.

He emphasized that the LTFRB will act on behalf of commuters in cases of abuse and violations of operating conditions.

Among the applicable laws is Republic Act No. 11313, or the Safe Spaces Act, also known as the

“Bawal Bastos Law.” Mendoza stressed the importance of public cooperation in holding erring drivers and operators accountable, noting that pursuing cases sends a strong message that proper behavior is required at all times.

“We at the LTFRB have already simplified all the complaint processes. We have hotlines and we even have a social media monitoring team to monitor social platforms for any public transportation-related concerns,” he said.

1.35M Filipinos register ahead of BSKE 2026

By Mary Jade Jadormio

THE number of voter registration applications for the 2026 Barangay and Sangguniang Kabataan Elections (BSKE) has reached more than 1.35 million, data from the Commission on Elections (Comelec) showed. According to Comelec, the data on the number of applications were processed from October 20, 2025 to January 18, 2026 and recorded a total number of 1,356,410.

This figure is close to the poll body’s target number of applications of 1.4 million.

The poll body’s data showed that Region IV-A (Calabarzon) recorded the highest number of applicants with 271,033. It was followed by Region III (Central Luzon) with 159,473 and the National Capital Region (NCR) with 157,421. Other regions contributing significantly to the tally include Region VII (Central Visayas) with 74,427 applicants and the Negros Island Region (NIR), which

logged 72,446 applications. Meanwhile, applications for transfer from another city or municipality reached 381,067, surpassing the number of new regular registrants, which stood at 367,859. Applications for reactivation climb to 54,235 from 48,364 a week ago. Additionally, new registrations for the Sangguniang Kabataan (SK)— covering applicants aged 15 to 17 years old—reached 322,402.

Registration is open until May 18 from 8 a.m. to 5 p.m.

these projects,” he said Bonoan returned to the country last Sunday after leaving last November to accompany his wife to the United States for a medical procedure.

Aside from plunder, Bonoan is facing administrative charges before the Ombudsman for grave misconduct, gross dishonesty conduct prejudicial to the best interest of the service under Republic Act No. 6713 or Code of Conduct and Ethical Standards for public Officials and Employees for the 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.

2025: ‘A lifechanging’ year for over 380K ARBs—DAR

By Jonathan L. Mayuga @jonlmayuga

THE Department of Agrarian Reform (DAR) stated that 2025 was a life-changing year for hundreds of thousands of agrarian reform beneficiaries (ARBs) who received condonation certificates and individual land titles.

In a statement, the DAR said as of December 30, 2025, it has distributed a total of 411,787 land titles covering 558,917 hectares of agricultural land, benefiting 380,264 ARBs nationwide. For farming families, this means secure land tenure, stronger livelihoods, and a future they can finally plan for. In 2025 alone, DAR awarded 199,838 land titles to 176,202 farmers, covering 302,540 hectares across all regions of the country. This surge in distribution represents a dramatic increase compared to previous years and reflects the renewed urgency of the Marcos administration to complete long-standing agrarian reform commitments.

Agrarian Reform Secretary Conrado M. Estrella III said the accomplishments go beyond statistics and reflect lives changed on the ground.

“Each land title represents a family that can now farm without fear of losing their land. It gives farmers the confidence to invest, improve productivity, and leave something lasting for their children,” Estrella said. Beyond land ownership, DAR also eased farmers’ long-standing financial burdens.

By year-end, the agency issued 482,556 Certificates of Condonation and Release of Mortgage (COCROMs), condoning more than P46.5 billion in unpaid land amortizations under Republic Act No. 11953, or the New Agrarian Emancipation Act. In 2025 alone, P35.67 billion in farmers’ debts were written off, freeing over 252,000 ARBs from obligations that had weighed on them for decades.

The impact was felt nationwide, with land titles and COCROMs distributed across Luzon, Visayas, and Mindanao. Regions such as Central Mindanao, Eastern Visayas, CARAGA, Negros Island Region, and Cagayan Valley emerged among the top recipients in 2025.

A6

January 20, 2026

Editor: Angel R. Calso

Europe warns of ‘dangerous downward spiral’ after Trump threatens tariffs over Greenland

By Stefanie Dazio, Jill Lawless & Emma Burrows The Associated Press

BERLIN—The eight European countries targeted by US President Donald Trump for a 10% tariff for opposing American control of Greenland blasted the move Sunday, warning that his threats “undermine transatlantic relations and risk a dangerous downward spiral.”

The joint statement by some of America’s closest allies signaled a possible turning point in the recent tensions over sovereignty and security nearly 24 hours after Trump’s threat.

It was also the most forceful rebuke of Trump from the European allies since he returned to the White House almost a year ago. In recent months, Europeans have mostly opted for diplomacy and flattery around him, even when seeking an end to the war in Ukraine. Sunday’s statement, as well as some European countries sending troops to Greenland for a Danish military training exercise, appeared to be a step away from that strategy.

The unusually strong joint statement from Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland said troops sent to Greenland for operation “Arctic Endurance” pose “no threat to anyone.”

Danish Foreign Minister Lars Løkke Rasmussen told reporters

in Oslo that a dialogue was opened with the US last week and “we will not give up on that. ... So, we will stay on track—unless US decides differently.”

Added Norwegian Foreign Minister Espen Barth Eide at the same news conference: “We will not allow ourselves to be put under pressure, and those types of threats (of US tariffs) are unacceptable between close allies.”

Six of the countries targeted are part of the 27-member European Union, which operates as a single economic zone in terms of trade.

Following emergency talks among the EU’s national envoys Sunday, EU Council President Antonio Costa said the bloc’s leaders agree “that tariffs would undermine transatlantic relations and are incompatible with the EU-US trade agreement.”

They expressed “readiness to defend ourselves against any form of coercion,” Costa said in a statement. He is expected to convene a summit of the bloc’s leaders later this week.

that he’d spoken with Trump. Rutte has been criticized in recent days for largely sidestepping questions about Trump and Greenland and any NATO tensions over the island.

“We will continue working on this, and I look forward to seeing him in Davos later this week,” Rutte said.

DANISH soldiers disembark at the harbor in Nuuk, Greenland, on Sunday, Jan. 18, 2026. MADS CLAUS RASMUSSEN/RITZAU SCANPIX VIA AP

Solidarity with Denmark and Greenland

TRUMP’S Saturday announcement sets up a potentially dangerous test of US partnerships in Europe. He appeared to indicate that he was using the tariffs as leverage to force talks over the status of Greenland, a semiautonomous territory of NATO ally Denmark that he regards as critical to US national security.

Late Sunday, Trump posted on his social media platform that NATO has warned Denmark for two decades of the Russian threat to Greenland. He said Denmark hasn’t acted and “Now it is time, and it will be done!!!”

“We stand in full solidarity with the Kingdom of Denmark and the people of Greenland,” the group said. “Building on the process begun last week, we stand ready to engage in a dialogue based on the principles of sovereignty and territorial integrity that we stand firmly

behind. Tariff threats undermine transatlantic relations and risk a dangerous downward spiral.”

There are immediate questions about how the White House could implement tariffs against the EU. It was unclear, too, how Trump could act under US law, though he could cite emergency economic powers that are currently subject to a US Supreme Court challenge. EU foreign policy chief Kaja Kallas said China and Russia will benefit from divisions between the US and Europe. She added on social media: “If Greenland’s security is at risk, we can address this inside NATO.”

Europe has been trying to keep Trump on its side to ensure US support for Ukraine, including Washington sharing intelligence with Kyiv and its involvement in security guarantees if a peace agreement is reached with Russia. Rasmus Søndergaard, a senior

researcher at the Danish Institute for International Studies, called Trump’s announcement “unprecedented” because tariff threats normally stem from trade disagreements, not territorial disputes between allies.

“That’s of course why we’re seeing the response from European countries saying ‘enough is enough,’” he told The Associated Press. “I think there’s in part probably a strategic calculation, of course, from the governments in these countries that if you give in to Trump on this, what will be the next thing? And at some point, you have to sort of push back.”

Søndergaard also said Trump leveled the playing field for Europe with the tariff threat. Europeans cannot compete militarily, but the EU can wield an economic weapon through reciprocal tariffs.

NATO Secretary General Mark Rutte wrote on social media Sunday

U.K. Prime Minister Keir Starmer also spoke to Trump and told him that “applying tariffs on allies for pursuing the collective security of NATO allies is wrong,” a Downing Street spokeswoman said. That call followed conversations with Rutte, Danish Prime Minister Mette Frederiksen and European Commission President Ursula von der Leyen. Trump’s move was also panned domestically.

US Sen. Mark Kelly, an Arizona Democrat, said Trump’s threatened tariffs on US allies would make Americans “pay more to try to get territory we don’t need.”

“Troops from European countries are arriving in Greenland to defend the territory from us. Let that sink in,” Kelly said on social media. “The damage this President is doing to our reputation and our relationships is growing, making us less safe. If something doesn’t change, we will be on our own with adversaries and enemies in every direction.”

Former US Vice President Mike Pence said he supports the United States ultimately owning Greenland, but not how Trump is trying to accomplish it.

He said he had concerns whether Trump had the constitutional authority to impose unilateral tariffs on NATO allies, as well as about a threat of a military invasion.

Tariffs. . .

Continued from A6

Trump’s current position threatens “to fracture that strong relationship, not just with Denmark, but with all of our NATO allies,” Pence said on CNN’s “State of the Union.”

Trump’s populist allies criticize the tariff threat

THE tariff announcement also drew blowback from Trump’s populist allies in Europe.

Italy’s right-wing premier, Giorgia Meloni, considered one of Trump’s closest allies on the continent, said she had spoken to him about the tariffs, which she described as “a mistake.”

The deployment to Greenland of small numbers of troops by some European countries was misunderstood by Washington, Meloni said, adding it was not a move against the US but aimed to provide security against “other actors” that she didn’t identify.

Jordan Bardella, president of Marine Le Pen’s far-right National Rally party in France and a European Parliament lawmaker, posted that the EU should suspend last year’s tariff deal with the US, describing Trump’s threats as “commercial blackmail.”

Trump also achieved the rare feat of uniting Britain’s main political parties—including the hardright Reform UK party—all of whom criticized the tariff threat.

Also in London on Sunday, a heckler yelled “leave Greenland alone!” while Vanessa Williams sang “The Star-Spangled Banner” before an NBA game between Memphis and Orlando. The outburst drew scattered laughs and applause.

Lawless reported from London and Burrows reported from Nuuk, Greenland. John Leicester in Paris, Lorne Cook in Brussels, Barry Hatton in Lisbon, Portugal, Aamer Madhani in Washington, Edith M. Lederer in New York, and Josh Boak in West Palm Beach, Florida, contributed.

Inequality, unease rising as elite Davos event opens with Trump set to attend

By Jamey Keaten The Associated Press

DAVOS, Switzerland—Corporate chiefs and government leaders including US President Donald Trump swarm into Davos, Switzerland this week, joining an elite annual meeting that promotes dialogue and economic progress—even as a domineering tone from Washington has upended the global order and billionaires have reaped trillions in new wealth as the poor lag behind.

The World Economic Forum, the think tank whose four-day annual meeting opens Tuesday, has a stated motto of “improving the state of the world,” and this year’s theme is “A spirit of dialogue.” One question is whether Trump will speak with attendees—or at them.

Nearly 3,000 attendees from the interlinked worlds of business, advocacy and policy will tackle issues including the growing gap between rich and poor; AI’s impact on jobs; concerns about geo-economic conflict; tariffs that have rocked longstanding trade relationships; and an erosion of trust between communities and countries.

“It’s really going to be a discussion at a very important moment... geopolitics is changing,” said Mirek Dušek, a forum managing director in charge of programming. “Some people think we’re in a transition. Some people think

we’ve already entered a new era. But I think it’s undeniable that you are seeing a more competitive, more contested landscape.”

Trump set to loom large TRUMP’S third visit to Davos as president comes as US allies worry about his ambition to take over Greenland, Latin America is grappling with his efforts to reap Venezuela’s oil, and his hardball tactics toward Federal Reserve Chair Jerome Powell have stirred concern among business leaders and lawmakers alike.

Trump’s peace-making credentials also will be on the table: An announcement looms about his “ Board of Peace “ for Gaza, and he and his administration are expected to have bilateral meetings in the warren of side rooms at the Congress Center. The US leader seems to revel

in strolling through the Davos Congress Center and among executives who back his businessminded, money-making approach to politics.

Critics will also be nearby: He’s blown hot and cold recently with Colombian President Gustavo Petro, an invitee; Foreign Minister Abbas Araghchi of Iran, whose leaders face US sanctions over their handling of recent protests, will be on hand.

The two likeliest counterweights to Trump’s administration on the international scene—China and the European Union—get top billing on the first day of the event: EU Commission President Ursula von der Leyen will speak Tuesday morning, right before Vice Premier He Lifeng, China’s “economic czar”—as Dušek put it.

Founder Schwab sits out, as Nvidia chief makes a debut THE forum will be without its founder, Klaus Schwab, who hosted the first event in Davos 55 years ago focusing on business, only to see it since balloon into a catchall extravaganza. He stepped down in April. New co-chairs Larry Fink, the head of investment firm BlackRock, and Andre Hoffman, vice chair of pharmaceuticals firm Roche, are in charge.

This year will also mark the debut appearance of Nvidia CEO Jensen Huang, arguably the world’s most important tech leader today, among some 850 CEOs and chairs of global companies – along with some celebrities like Hollywood actor and safe-water advocate Matt Damon.

The future of AI, its impact on business and work, and the prospects for artificial general intel -

ligence will be key themes.

The presidents of Argentina, France, Indonesia, Syria and Ukraine will be among the dozens of national leaders on hand.

As rich-poor divide widens, trust in institutions falters

Leading public-relations firm

Edelman reports in its annual trust barometer – launched a quarter-century ago and this year surveying nearly 34,000 people in 28 countries – that trade and recession fears have climbed to an all-time high, optimism is falling especially in developed countries, and “grievance” last year has morphed into broader “insularity.”

“People are retreating from dialogue and compromise, choosing the safety of the familiar over the perceived risk of change,” said CEO Richard Edelman. “We favor nationalism over global connection and individual gain over joint progress. Our mentality has shifted from ‘we’ to ‘me’.”

The survey found that about two-thirds of respondents said their trust was concentrated toward CEOs of the companies that they work for, fellow citizens or neighbors, while nearly 70% believed institutional leaders—such as from business or government— deliberately mislead the public.

Oxfam, the world-renowned advocacy group, issued a report ahead of the Davos event which showed that billionaire wealth rose by more than 16% last year, three times faster than the past five-year average, to more than $18 trillion. It drew on Forbes magazine data on the world’s richest people.

Oxfam said the $2.5 trillion rise in the wealth of billionaires last year would be enough to eradicate

extreme poverty 26 times over. Their wealth has risen by more than four-fifths since 2020, while nearly half the world’s population lives in poverty, the group said.

The Trump administration has led a “pro-billionaire agenda,” the group said, through actions such as slashing taxes for the wealthiest, fostering the growth of AI-related stocks that help rich investors get richer, and thwarting efforts to tax giant companies.

The advocacy group wants more national efforts to reduce inequality, higher taxes on the ultra-rich to reduce their power, and greater limits on their ability to shape policy through lobbying. With such concerns filtering through to policymakers, Trump, who is leading the biggest-ever US delegation and will have about a half-dozen Cabinet secretaries in tow, is expected to discuss housing and affordability in his Davos speech on Wednesday.

Critics of WEF, and Trump, take to the streets AS usual, protesters rallied over the weekend in and near Davos ahead of the event. Hundreds of marchers scaled an Alpine road up to the town on Saturday behind a banner in German that read “No Profit from War” and alongside a truck that bore a sign: World Economic Failure.

Companies like Microsoft, India’s Tata Consultancy, social media titan TikTok and cybersecurity firm CrowdStrike have joined governments from countries like Nigeria, Qatar, Ukraine and the United States—a USA House is making a debut this year—to set

Building Lives, Not Just Houses Social Housing Finance

the concept of community ownership. The agency also undertakes special projects that advance national development, such as the High Density Housing Program for families in Metro Manila’s waterways and danger zones, and the Strategy for the Inclusive Mainstreaming of People’s Living Entitlements (SIMPLE) Program for resettling families in Intramuros, Manila.

It also provides housing assistance to families affected by the North-South Commuter Railway Extension Project (NSCR-Ex) and those displaced by the Marawi siege.

Meanwhile, SHFC’s vertical 4PH projects, such as Crystal Peak Estates in San Fernando City, Pampanga, People’s Ville in Davao City, Valley View Township in Tagoloan, Misamis Oriental, and Port Town in Manila, represent a strategic response to the growing demand for affordable housing in highly urbanized areas. These multistory developments maximize limited land re-

sources while ensuring access to essential services and livelihood opportunities.

From Vision to Reality

The story of SHFC is one of innovation, resilience, and unwavering commitment to uplifting Filipino families. Its roots trace back to the early 1980s, when the community mortgage concept was first introduced in Cebu through the efforts of a development organization, with support from the national housing sector.

This pioneering initiative paved the way for the formal adoption of the Community Mortgage Program as the flagship for socialized housing under Republic Act 7279, the Urban Development and Housing Act of 1992, which first defined “socialized housing” in Philippine law. In 2004, Executive Order No. 272 finally established SHFC as the lead agency for social housing, focusing on informal settlers and low-income families. Its clear mandate: pro -

vide accessible, community-driven financing and empower the urban poor to secure land and build their own homes.

Innovations That Changed the Landscape

SHFC has consistently embraced innovation.

Guided by the Department of Human Settlements and Urban Development (DHSUD), it has adapted to meet the evolving needs of the national housing agenda.

In July 2025, SHFC launched the Enhanced Community Mortgage Program (ECMP), a faster and more flexible alternative to the traditional CMP. Within months of its inception, 36 ECMP projects were approved, securing land tenure for over 6,200 families—demonstrating SHFC’s commitment to efficiency and inclusivity.

The impact of these programs was highlighted at the October 2025 National Housing Expo, where President Marcos, Jr. personally

awarded Certificates of Lot Award (CELA) to over 900 beneficiaries from five ECMP communities.

According to SHFC President and CEO Federico Laxa, “We are on track in implementing our housing programs, particularly the ECMP, to help more Filipino families secure the land they occupy. This reaffirms our commitment to providing safe, secure, and inclusive housing where beneficiaries can build better lives for their families.”

Inclusive, Community -Driven Approach

SHFC’s vision goes beyond constructing houses—it is fundamentally about building sustainable and inclusive communities. By partnering with local government units, fellow government agencies, and non-governmental organizations, SHFC empowers informal settlers to purchase land and develop essential infrastructure.

Today, with significant progress in 4PH implementation, SHFC is answering the President’s call to ensure that all citizens, especially the unserved and underserved, experience tangible government support in their daily lives.

As SHFC moves into 2026, it aims to accelerate project approvals and strengthen partnerships to deliver more inclusive and sustainable housing solutions for Filipino families, bringing the goal of secure and dignified homeownership within closer reach.

Building a Better Future

For 22 years, SHFC has done more than construct houses—it has helped build lives by empowering organized communities, overcoming challenges, and continually innovating to meet families’ needs.

As Laxa aptly stated, the organization’s legacy will be measured not only by the homes it has built, but by the communities it has transformed.

From Scale Model to Reality: SHFC Celebrates 22 Years of Building Homes and Hope

Wscale model is now a thriving community— a transformation that perfectly captures the 22-year journey of the Social Housing Finance Corporation (SHFC). At the 2025 National Housing Expo, President Ferdinand R. Marcos, Jr. visited the SHFC pavilion to review the agency’s flagship projects under the Pambansang Pabahay Para sa Pilipino (4PH) Program,

ing agenda. Accompanied by Department of Human Settlements and

Development (DHSUD) Secretary Jose Ramon Aliling, SHFC

dent and CEO Federico Laxa

updates on the rapid expansion of both vertical and communitybased housing projects nationwide. A Signature Transformation A highlight of the exhibit was the

Finance Corporation

scale model of Crystal Peak Estates in San Fernando City, Pampanga—the very model signed by the President during a site inspection in July 2023.

Today, that vision is reality: a modern social housing community in Barangay Del Carmen, with 125 housing units already handed over to member-beneficiaries and about 50 families settled since September last year. An additional 900 units are now ready for occupancy, marking a major milestone for the development.

Expanding the National Footprint SHFC’s impact extends far beyond Central Luzon. In Davao City, the 14.23-hectare People’s Ville project boasts 14 completed buildings, with more than 200 families already moved in.

Major housing developments are also progressing in Tagoloan, Misamis Oriental, where more than 380 housing units have been completed at Valley View Township, and in Puerto Princesa City, Palawan, home to Tandikan Ville, where over 260 units are already finished.

In Manila, SHFC has fully completed the construction of 172 units in San Miguel de Manila Residences while construction is in progress in Port Town. SHFC also continues to make significant strides in its housing programs in collaboration with the Department of Transportation for families affected by the North–South Commuter Railway Exten-

sion Project. More than 30 families have already moved into their new homes at RizalVille in Calamba City, Laguna, while the construction of The Meadow in Biñan City, Laguna is in full swing.

Empowering Communities Through Land Tenure

Meanwhile, through Sec. Aliling’s directive, SHFC has revitalized the Community Mortgage Program (CMP) with its Enhanced Community Mortgage Program (ECMP), offering long-term security to informal settler families and underprivileged sectors.

At the Expo, President Marcos awarded Certificates of Lot Award to five homeowners’ associations, reinforcing the government’s commitment to community empowerment.

Recent milestones include over Php 14 million awarded to the Wawang Pulo HOA in Valenzuela City, and checks for land acquisition and taxes given to three Pasig City communities: Centennial Sunrise HOA, Megaville 2 HOA, and Villa Soledad amounting to more than Php 45 million.

Since its launch in July last year, 36 ECMP projects have been approved, securing land tenure for more than 6,200 families nationwide.

A s SHFC marks another year of service, its dedication to turning blueprints into thriving communities remains unwavering—ensuring that organized communities have a strong foundation for sustainable living and dignity.

HOAs at the Forefront of Transformative Communities

THE Johnmary Ville Phase 1 in Las Pinas, Metro Manila has undergone a significant transformation since its integration into the Community Mortgage Program (CMP) in 2011.

Facilitated by the Social Housing Finance Corporation (SHFC), the community has evolved from a simple social housing project to sustainable thriving neighborhood.

“ There has been a significant transformation in our community since becoming part of the CMP,” says Christine Vergara, secretary of the Johnmary Ville Phase 1 Homeowners Association, Inc. (HOAI).

This dedication of the HOA members to developing their community into a model housing project did not go unnoticed. Late last year their efforts were recognized as the 2nd HOME (Homeowners’ Outstanding Merit for Excellence) Awards where they were named the Top Performing HOA.

The award honors their exemplary community leadership, collective performance and community to excellence.

n August 2025, more than 80 member-beneficiaries also received titles to their land in Johnmary Ville Phase 1. “Masasabi namin na 30%, konti na lang ang nagbabayad ng monthly amortization at 70% na ang mga nabayaran na ang kanilang lupa (We can say that 30% are those who are still paying their monthly amortization, while 70% have already fully paid for their land.),” according to Vergara.

These land titles are also proof of the HOAs efforts as being instrumental in sustaining social housing communities under the CMP, where informal settler families are given the opportunity to own their own lots and establish an organized, orderly community with a clear direction for the future.

As a result, more Filipino families are able to achieve the dream of having a safe and stable home.

According to Vergara, their association has been striving to achieve title individualization so that the land titles can be transferred to the names of individual members. The officers are

also studying possible livelihood initiatives that could generate income for their members, such as micro-financing and cooperatives.

Advancing Affordable Housing

Meanwhile in Tanauan City in Batangas, 51 families have also taken a significant step toward a brighter, more secure future after receiving Transfer Certificates of Title (TCTs) from SHFC during the awarding ceremony in October 2025.

Among the recipients was 75-year-old Estelita Seduco, who was visibly emotional as she finally received her land title after years of waiting. “Akala ko noong hindi pa ito naii-award, parang balewala lang sa akin. Sabi ko, baka totoo na ‘to, hindi na pangarap lang. Kaya maraming salamat at sa wakas, nahawakan ko na rin. Ang saya-saya ko dahil dugo’t pawis ang pinuhunan ko rito. Kahit sasabihin nila na maliit na halaga, hindi maliit na halaga sa akin—napakalaking halaga sa akin. Walang katumbas ‘yun na pera (I used to think that if this wasn’t awarded, it didn’t matter much to me. But now, I realize it’s real—it’s no longer just a dream. Thank you so much, because at last, I’m

holding it in my hands. I’m so happy because invested my blood and sweat here. Even if others say it’s a small amount, for me, it’s a huge value. No amount of money can compare,” she shared tearfully.

In San Jose del Monte, Bulacan, feeling of joy and relief filled the City Convention Center last October when 72 member-beneficiaries from nine homeowners’ associations received their tittles, officially recognizing them as legitimate owners. They belong to the Bagong Buhay Francisco HOAI Phases 1 and 2, Elfa Ville HOAI, Partida Heights HOAI, Rosario Ville HOAI, Policarpio Ville HOAI, Samasamang Ugnayan Sagiptahanan

A10 Tuesday, January 20, 2026

Guatemala declares state of siege after gang violence kills 7 police officers

By Sara Melini & Moisés Castillo The Associated Press

GUATEMALA CITY—

Guatemala President Bernardo Arévalo declared a 30-day state of siege Sunday after suspected gang members in Guatemala’s capital killed seven police officers in apparent retaliation for authorities in the country’s southwest retaking control of one of three maximum security prisons where inmates had rioted and taken hostages the day before.

The attacks on police in and around Guatemala City came after hundreds of anti-riot police stormed Renovación prison in Escuintla, about 47 miles (76 kilometers) southwest of the capital, to free nine guards who had been taken hostage there. Jailed gang leaders often order members outside the prison walls to carry out retaliatory attacks.

“They rioted in the prisons and took hostages with the intention of making the state accept their demands, which for decades were granted,” Arévalo said on national television Sunday. The attacks that followed the retaking of those prisons Sunday, were “an attempt to terrorize security forces and the population so that the government relents in its

head-on fight against the gangs.”

The president said all of the hostage guards were freed Sunday. The gangs’ audacious attempt to challenge authorities was a sign that his administration’s security efforts were working, Arévalo said.

Arévalo’s state of siege still requires congressional approval, but can take effect before that vote occurs. The constitution allows such a declaration in cases of serious violence, insurrection or action by organized crime groups that exceeds the ability of civilian authorities to respond.

The declaration can limit some constitutional rights like the freedoms of movement, gathering and protest. The president said it was necessary to ensure the safety of Guatemalans and allow the government to use all its resources to combat the gangs.

Shots rang out as riot squads swept into the facility that houses gang leaders. About 15 minutes later, an Associated Press journalist saw the freed guards being escorted from the prison. They appeared to be unharmed. No injuries or deaths were immediately reported.

Later on Sunday, authorities

retook control of the other two prisons in the capital, freeing six guards at one and 28 at the other, according to National Civil Police.

On Saturday, the Interior Ministry had said 46 guards were being held hostage. It was not immediately clear what explained the discrepancy with the 43 freed on Sunday.

Inmates took control of the three prisons the day before in a coordinated uprising to protest prison administrators’ decision to strip privileges from some incarcerated gang leaders.

As security forces tried to assert control, apparent retaliatory attacks took place outside the prison walls. Armed gangs killed seven national police officers in assaults across Guatemala City, Interior Minister Marco Antonio Villeda said. The clashes wounded another 10 officers, he added, and killed one gang member.

He said police so far have arrested seven gang members, confiscated two rifles and seized two vehicles, praising the police response as “the result of not negotiating with criminals.”

“The state will not kneel before these criminals,” he said, portraying the attacks on police officers

and coordinated prison riots as a response to the government’s intensifying crackdown on organized crime.

The Barrio 18 and Mara Salvatrucha gangs are powerful in Guatemala, as they are in neighboring Honduras and had been in El Salvador until President Nayib Bukele declared a state of emergency in March 2022 after gangsters killed dozens.

El Salvador’s state of emergency, which suspends some constitutional rights like access to an attorney, remains in place and more than 90,000 people have been arrested under it.

Other Central American leaders have been under pressure to adopt similarly harsh tactics to deal with gang crime. Last week, Bukele visited Costa Rica to observe a groundbreaking ceremony for a new prison styled on one he built in El Salvador.

With tensions high, the Ministry of Education said it would suspend classes across the Central American country for Monday the 19th “to prioritize the safety” of students and teachers.

The police reinforced guards at several prisons and increased joint patrols with the military.

Death toll in Spanish train collision rises to 39 and authorities say it could still rise

By Iain Sullivan, Joseph Wilson & Suman Naishadham

The Associated Press

ADAMUZ, Spain—Spanish police said Monday that at least 39 people are confirmed dead in a high-speed train collision the previous night in the south of the country.

Efforts to recover the bodies are continuing and the death toll is likely to rise. Some passengers were catapulted through windows and their bodies were found hundreds of meters from the crash site, Andalusia regional president Juanma Moreno said.

The crash occurred Sunday at 7:45 p.m. when the tail end of a train carrying 289 passengers on the route from Malaga to the capital, Madrid, went off the rails at 7:45 p.m. It slammed into an incoming train traveling from

Madrid to Huelva, another southern Spanish city, according to rail operator Adif.

The head of the second train, which was carrying nearly 200 passengers, took the brunt of the impact, Spanish Transport Minister Óscar Puente said. That collision knocked its first two carriages off the track and sent them plummeting down a 4-meter (13-foot) slope. Puente said that it appeared the largest number of the deaths occurred in those carriages.

Authorities said all the survivors had been rescued in the early morning while work remained to recover and identify the dead.

Moreno said Monday morning that emergency services were still searching.

“It is likely (that there will be more dead people found) when you look at the mass of metal that is there. The firefighters have done a great job, but unfortunately when they get the heavy machinery to lift the carriages it is probable we will find more victims.”

“Here at ground zero, when you look at this mass of twisted iron, you see the violence of the impact,” Moreno said.

Moreno said that authorities are also searching the area near the accident for possible bodies.

“The impact was so incredibly violent that we have found bodies hundreds of meters away, which means that people were thrown through the windows,” Moreno said.

Various Spaniards who had loved ones traveling on the trains posted messages on social media saying they were unaccounted for and pleading for any information.

Spain’s Civil Guard opened an office in Cordoba, the nearest city to the crash, for family members of the missing to seek help and leave DNA samples to be used to possibly identify bodies.

Video and photos showed twisted train cars lying on their sides under floodlights late on Sunday. Passengers reported climbing out of smashed windows, with some using emergency hammers to break the windows, according to Salvador Jiménez, a journalist for Spanish broadcaster RTVE, who was on board one of the derailed trains.

He told the network by phone Sunday that “there was a moment when it felt like an earthquake and the train had indeed derailed.”

Authorities said 159 people were injured. As of Monday, that included 11 adults and one child in critical condition.

The collision took place near Adamuz, a town in the province of Cordoba, about 370 kilometers (about 230 miles) south of Madrid.

A sports center was turned into a makeshift hospital in Adamuz and the Spanish Red Cross set up a help center offering assistance to emergency services and people seeking information. Members of the Civil Guard and civil defense worked on site throughout the night.

Spanish Prime Minister Pedro Sánchez expressed his condolences to the victims’ families. “Tonight is a night of deep pain for our country,” he wrote on X. The prime minister will visit the accident site on Monday, according to his office.

Officials call accident ‘strange’

TRANSPORT Minister Puente early Monday said the cause of the crash was unknown.

He called it “a truly strange” incident because it happened on a flat stretch of track that had been renovated in May. He also said the train that jumped the track was less than 4 years old. That train belonged to the private company Iryo, while the second train, which took the brunt of the impact, was part of Spain’s public train company, Renfe.

According to Puente, the back part of the first train derailed and crashed into the head of the other train. When asked by reporters how long an inquiry into the crash’s cause could take, he said it could be a month.

Álvaro Fernández, the president of Renfe, told Spanish public radio RNE that both trains were well under the speed limit of 250 kph; he said one was going 205 kph, the other 210 kph. He also said that “human error could be ruled out.”

The incident “must be related to the moving equipment of Iryo or the infrastructure,” the Renfe president said.

Iryo issued a statement on Monday saying that its train was manufactured in 2022 and passed its latest safety check on Jan. 15. It reiterated its condolences for the victims and said it would completely cooperate with the official investigation into the causes of

Iranian TV signal disrupted by hackers; US aircraft carrier on possible path to Mideast amid tensions

By Jon Gambrell The Associated Press

DUBAI, United Arab Emirates— Hackers disrupted Iranian state television satellite transmissions to air footage supporting the country’s exiled crown prince and calling on security forces to not “point your weapons at the people,” online video showed early Monday, the latest disruption to follow nationwide protests in the country. The hacking comes as the death toll in a crackdown by authorities that smothered the demonstrations reached at least 3,919 people killed, activists said. They fear the number will grow far higher as information leaks out of a country still gripped by the government’s decision to shut down the internet.

Meanwhile, tensions remain high between the United States and Iran over the crackdown after President Donald Trump drew two red lines for the Islamic Republic—the killing of peaceful protesters and Tehran conducting mass executions in the wake of the demonstrations. A US aircraft carrier, which days earlier had been in the South China Sea, passed Singapore overnight to enter the Strait of Malacca— putting it on a route that could bring it to the Middle East.

State TV disrupted THE footage aired Sunday night across multiple channels broadcast by satellite from Islamic Republic of Iran Broadcasting, the country’s state broadcaster which has a monopoly on television and radio broadcasting. The video aired two clips of exiled Crown Prince Reza Pahlavi, then included footage of security forces and others in what appeared to be Iranian police uniforms. It claimed without offering evidence others had “laid down their weapons and swore an oath of allegiance to the people.”

the tragedy.

Train services Monday between Madrid and cities in Andalusia were canceled.

Spain leads Europe in highspeed trains

SPAIN has spent decades investing heavily in high-speed trains and currently has the largest rail network in Europe for trains moving over 250 kph (155 mph), with more than 3,100 kilometers (1,900 miles) of track, according to the European Union.

The network is a popular, competitively priced and safe mode of transport. Renfe said more than 25 million passengers took one of its high-speed trains in 2024.

Sunday’s accident was the first with deaths since Spain’s high-speed rail network opened its first line in 1992.

Spain’s worst train accident this century occurred in 2013, when 80 people died after a train derailed in the country’s northwest.

An investigation concluded the train was traveling 179 kph (111 mph) on a stretch with an 80 kph (50 mph) speed limit when it left the tracks. That stretch of track was not high speed.

Wilson reported from Barcelona, Spain, and Naishadham from Madrid.

AP journalist Barry Hatton contributed from Lisbon, Portugal.

“This is a message to the army and security forces,” one graphic read. “Don’t point your weapons at the people. Join the nation for the freedom of Iran.” The semiofficial Fars news agency, believed to be close to the country’s paramilitary Revolutionary Guard, quoted a statement from the state broadcaster acknowledging that the signal in “some areas of the country was momentarily disrupted by an unknown source.” It did not discuss what had been aired. A statement from Pahlavi’s office acknowledged the disruption that showed the crown prince. It did not respond to questions from The Associated Press about the hack.

“I have a special message for the military. You are the national army of Iran, not the Islamic Republic army,” Pahlavi said in the hacked broadcast. “You have a duty to protect your own lives. You don’t have much time left. Join the people as soon as possible.”

Social media footage shared abroad, possibly from those with Starlink satellites to get around the Internet shutdown, showed the hack in progress across multiple channels. Pahlavi’s campaign also shared the footage.

Sunday’s hack isn’t the first to see Iranian airwaves disrupted. In 1986, The Washington Post reported that the CIA supplied the prince’s allies “a miniaturized television transmitter for an 11-minute clandestine broadcast” to Iran by Pahlavi that pirated the signal of two stations in the Islamic Republic.

In 2022, multiple channels aired footage showing leaders from the exiled opposition group Mujahedeen-e-Khalq and a graphic calling for the death of Iran’s Supreme Leader Ayatollah Ali Khamenei.

Pahlavi’s father, Shah Mohammad Reza Pahlavi, fled Iran ahead of the 1979

See “Iranian,” A11

Wildfires rage across Chile, leaving 18 dead and forcing thousands to flee

PBy Javier Torres The Associated Press

ENCO, Chile—Wildfires raging across central and southern Chile on Sunday left at least 18 people dead, scorched thousands of acres of forest and destroyed hundreds of homes, authorities said, as the South American country swelters under a heat wave.

Chilean President Gabriel Boric declared a state of catastrophe in the country’s central Biobio region and the neighboring Ñuble region, around 500 kilometers (300 miles) south of Santiago, the capital. The emergency designation allows

greater coordination with the military to rein in over two dozen active wildfires that have so far blazed through 8,500 hectares (21,000 acres), according to the national forestry agency.

In a press conference from the hardhit city of Concepción in the Biobio region, Boric expressed his support and condolences to the victims and warned that the government’s initial reports of 18 people killed and 300 houses destroyed were expected to rise as the extent of the losses came into focus.

He estimated the total number of affected homes in the Biobio region alone to be “certainly more than a thousand, just so far.” Already the fires ravaging the hillsides

forced 50,000 people to evacuate.

“The first priority, as you know, in these emergencies is always to fight and extinguish the fire. But we cannot forget, at any time, that there are human tragedies here, families who are suffering,” he said. “These are difficult times.”

His address followed complaints from local authorities that for hours, destruction was everywhere and help was nowhere.

“Dear President Boric, from the bottom of my heart, I have been here for four hours, a community is burning and there is no (government) presence,” Rodrigo Vera, the mayor of the small coastal town of Penco in the Biobio region, said on a local radio station earlier

Sunday. “How can a minister do nothing but call me to tell me that the military is going to arrive at some point?”

Firefighters struggled to extinguish the flames, with the heat and strong winds hampering their efforts. Temperatures topped 38 C (100 F) on Sunday, and the scorching weather was expected to persist through Monday.

“Weather conditions for coming hours are not good and indicate extreme temperatures,” said Interior Minister Álvaro Elizalde.

Residents said the fires took them by surprise after midnight, trapping them in their homes.

“Many people didn’t evacuate. They

stayed in their houses because they thought the fire would stop at the edge of the forest,” said John Guzmán, 55, surveying the scene in Penco, where smoke blanketed the sky in an orange haze. “It was completely out of control. No one expected it.” The fire engulfed most of Penco, burning cars, a school and a church. Thousands of people scrambled to take refuge in makeshift emergency shelters.

“We fled running, with the kids, in the dark,” said Juan Lagos,

Syrian government announces ceasefire with Kurdish-led Syrian Democratic Forces

By Ghaith Alsayed & Omar Albam

The Associated Press

RAQQA, Syria—The Syrian government Sunday announced a ceasefire with the Syrian Democratic Forces, taking almost full control of the country and dismantling the Kurdish-led forces that controlled the northeast for over a decade.

The announcement comes as tensions between government forces and the SDF boiled over earlier this month, eventually resulting in a major push by government forces toward the east. The SDF appeared to have largely retreated after initial clashes on a tense front-line area in eastern Aleppo province.

Hours after the government announced the deal, SDF leader Mazloum Abdi confirmed it in a video statement, saying the group had accepted the agreement, which stipulates their withdrawal from Raqqa and Deir el-Zour provinces “to stop the bloodshed.”

Iranian. . .

Continued from A10 Islamic Revolution. Pahlavi, the son, urged protesters onto the streets Jan. 8 as Iranian authorities shut down the internet and drastically intensified their crackdown.

How much support Pahlavi has inside of Iran remains an open question, though there have been pro-shah cries at the demonstrations.

US aircraft carrier possibly on path to Mideast

AS tensions remain high between Tehran and Washington, ship-tracking data analyzed by the AP on Monday showed the USS Abraham Lincoln aircraft carrier, as well as other American military vessels, in the Strait of Malacca after passing Singapore on a route that could take them to the Middle East.

“We will explain the terms of the agreement to our people in the coming days,” he said. Syria’s Defense Ministry said it ordered the fighting to halt on the front lines after the agreement was announced.

New government had struggled to take control SYRIA’S new leaders, since toppling Bashar Assad in December 2024, have struggled to assert their full authority over the wartorn country. An agreement was reached in March that would merge the SDF with Damascus, but it didn’t gain traction as both sides accused each other of violating the deal.

Since the push, the government has largely asserted control of the Deir el-Zour and Raqqa provinces, critical areas under the SDF that include oil and gas fields, river dams along the Euphrates, and border crossings.

Syria’s state-run news agency SANA showed President Ahmad al-Sharaa signing

The Lincoln had been in the South China Sea with its strike group as a deterrent to China over tensions with Taiwan. Tracking data showed that the USS Frank E. Petersen Jr., the USS Michael Murphy and the USS Spruance, all Arleigh Burke-class guided missile destroyers, were traveling with the Lincoln through the strait.

Multiple US media reports quoting anonymous officials have said the Lincoln, which has its homeport in San Diego, was on its way to the Mideast. It likely would still need several days of travel before its aircraft would be in range of the region. The Mideast has been without an aircraft carrier group or an amphibious ready group, likely complicating any discussion of a military operation targeting Iran given Gulf Arab states’ broad opposition to such an attack.

Death toll from crackdown rises THE death toll exceeds that of any

and holding the agreement. Abdi, who was scheduled to meet with the president in Damascus was not seen, though his signature appeared on the document.

Al-Sharaa told journalists that Abdi could not travel due to bad weather and will visit Damascus on Monday.

“It’s a victory for all Syrians of all backgrounds,” al-Sharaa told journalists in Damascus after signing the agreement.

“Hopefully Syria will end its state of division and move to a state of unity and progress.”

The two warring sides are key allies of Washington. US Envoy Tom Barrack met with al-Sharaa earlier Sunday as government forces were sweeping into the city of Raqqa and across Deir el-Zour province. Abdi reportedly joined the meeting over the phone.

US envoy says agreement will lead to dialogue and cooperation

BARRACK praised the agreement, saying it will lead to “renewed dialogue and

other round of protest or unrest in Iran in decades, and recalls the chaos surrounding the 1979 revolution. The US-based Human Rights Activists News Agency put the death toll Sunday to at least 3,919 people killed, warning it likely would go higher.

The agency has been accurate throughout the years of demonstrations

cooperation toward a unified Syria,” ahead of working on the details of implementing the integration.

“This agreement and ceasefire represent a pivotal inflection point, where former adversaries embrace partnership over division,” said Barrack in a post on X.

The agreement includes dismantling the SDF and having its forces join Syria’s military and security forces, while senior military and civilian officials would be given high-ranking positions in state institutions.

The SDF would have to give up the Raqqa and Deir el-Zour provinces—both Arab-majority areas—to the Syrian military and government, as well as its border crossings and oil and gas fields.

Hassakah Province, the heartland of the Kurdish population, is only expected to give its civilian administration back to Damascus, while the Kurdish-led agencies that handled prisons and sprawling camps with thousands of detained Islamic State group fighters and families would be

and unrest in Iran, relying on a network of activists inside the country that confirms all reported fatalities. The AP has been unable to independently confirm the toll. Iranian officials have not given a clear death toll, although on Saturday, Khamenei said the protests had left “several thousand” people dead and blamed the United States for the deaths. It was the first indication

handed over to Damascus.

President says agreement will be implemented gradually

THERE was no clear timeline on when and how the different elements of the agreement will take effect. Al-Sharaa told journalists that it will be gradually implemented, beginning with the cessation of hostilities.

It appeared that tensions following clashes in Aleppo earlier this month had calmed after Abdi announced that his troops will withdraw east of the Euphrates River, and al-Sharaa issued a presidential decree that would strengthen Kurdish rights in the country.

Initially the withdrawal appeared to be going as planned, but then new clashes broke out and the Syrian military seized Tabqa, continuing into Raqqa province.

A senior Syrian government official who spoke on condition of anonymity because he was not authorized to speak publicly said government forces pushed eastward

from an Iranian leader of the extent of the casualties from the wave of protests that began Dec. 28 over Iran’s ailing economy.

because the SDF despite saying they will withdraw east of the Euphrates by 7 a.m. did not do so.

Armed Arab clans in Raqqa and Deir el-Zour that largely do not support the SDF backed Damascus. By Sunday evening, the SDF lost control of large swaths of its territory and infrastructure, including dams and oil and gas fields.

The SDF took Raqqa from the Islamic State in 2017 as part of its military campaign to take down the group’s so-called caliphate, which at its peak stretched across large parts of Syria and Iraq. At the height of its control, IS declared Raqqa its capital.

An Associated Press reporter in the area said that large military convoys swept into Raqqa city Sunday evening and were greeted by residents. It appeared that the SDF had withdrawn.

The Associated Press writers Kareem Chehayeb and Abby Sewell in Beirut and Hogir Al Abdo in Qamishli, Syria, contributed to this report.

report.

Tuesday, January 20, 2026

₧95M rice facility in Antique aims to boost farmer productivity–DA

By Ada Pelonia @adapelonia & Samuel Medenilla

@sam_medenilla

ANEW rice processing fa -

cility in Antique, valued at P94.8 million, is expected to enhance farmer productivity and increase output, according to the Department of Agriculture (DA).

Agriculture Secretary Francisco Tiu Laurel Jr. joined President Ferdinand Marcos Jr. in inspecting the newly completed facility operated by the Hamtic Multi-Purpose Cooperative.

The Rice Processing System (RPS), located in Barangay Poblacion 5, Hamtic, was constructed by the Philippine Center for Postharvest Development and Mechanization (PhilMech), an attached agency

of the DA. It was bankrolled by the Rice Competitiveness Enhancement Fund (RCEF).

Designed to reduce postharvest losses and improve milling efficiency, the facility could help increase recovery rates and improve rice quality, allowing farmers to capture better market prices.

“This investment gives our rice farmers here in Antique the tools to be more productive and improve their lives, while supporting the Marcos administation’s determined push for national food security,” Tiu Laurel was quoted in the statement as saying.

He added that mechanization and post-harvest facilities are critical to lowering costs and boosting farm profitability.

See “DA,” A13

Over 4K families set to benefit from Bulacan condo project

By Justine Xyrah Garcia

OVER 4,000 families are set to benefit from a new government vertical housing project in Bulacan once it is completed, the Department of Human Settlements and Urban Development (DHSUD) said on Monday.

DHSUD said the modern condominium-type Bocaue Bulacan Manor, developed under the Expanded Pambansang Pabahay para sa Pilipino (4PH) Program, will feature 11 mid-rise residential buildings that can accommodate around 12,000 individuals in total.

The agency said that the project’s Tower 1 has already been completed, with 364 housing units now ready for turnover to qualified beneficiaries.

“Like other developments under the Expanded 4PH, this project is complete with amenities. In line with President Marcos Jr.’s directive, we are not just building durable homes but inclusive and sustainable communities,” Housing Secretary Jose Ramon Aliling said during the inauguration of the project.

According to the agency, the development is designed as a “people-centered community” and will offer amenities aimed at supporting “quality living.”

These include a swimming pool, basketball court, parks and playgrounds, nursery homes,

a clubhouse, a multi-purpose building, parking spaces, commercial areas, and a tricycle terminal.

The DHSUD said the project is open to qualified beneficiaries even if they are not residents of Bocaue, while interested Bocaue residents may seek assistance from the Municipal Social Welfare and Development Office for the application process.

Aliling assured that the department remains committed to sustaining the rollout of such projects nationwide, as part of its broader effort to address the country’s housing backlog.

“The DHSUD will continue to deliver safe and decent housing under the Expanded 4PH Program. Projects like this demonstrate the administration’s commitment to providing hope, security, and a more dignified quality of life for every Filipino family,” Aliling said.

The housing push traces back to 2022, when the Marcos administration committed to building one million low-cost housing units annually until 2028, or a total of six million units, a target that former House Speaker Martin Romualdez earlier said was feasible.

Two years later, the DHSUD revised its target to 3.2 million housing units, citing funding constraints, with the program estimated to costP4 trillion.

See “Bulacan,” A13

Priest named interim head as Ilagan Diocese awaits new bishop

By Mary Jade Jadormio

ATHER Edmundo Castañeda

FJr. has been designated to temporarily oversee the Roman Catholic Diocese of Ilagan following a leadership transition within the Catholic Church. Castañeda was named interim administrator to ensure the continued operations of the diocese.

Before being elected, he served as vicar general of the diocese. He is currently an administrator of the National Shrine of Our Lady of the Visitation in Guibang, a village in the town of Gamu, and president of St. Ferdinand College.

The appointment follows the reassignment of the diocese’s former bishop to a higher post in northern Luzon.

Bishop David William Antonio, who has led the Diocese of Ilagan since 2018, was recently appointed

DepEd, UP forge partnership to boost school disaster preparedness nationwide

By Claudeth Mocon-Ciriaco @claudethmc3

TO address persistent gaps faced by schools in disaster-prone areas, the Department of Education (DepEd) and the University of the Philippines (UP) recently signed a a memorandum of understanding (MOU) that would immediately benefit public school Disaster Risk Reduction and Management (DRRM) coordinators, teachers, and learners nationwide from new disaster preparedness training and science-based tools.

The partnership also aims to particularly address the lack of localized hazard data, structured training, and coordinated emergency protocols, which often leaves teachers and learners vulnerable during floods, earthquakes, and other calamities.

Under the agreement, UP will provide technical and scientific expertise to support DepEd’s disaster risk reduction, climate change adaptation and mitigation, and emergency response efforts across public schools nationwide.

“Hindi dapat napuputol ang pagkatuto dahil lang sa kakulangan ng paghahanda. Sa tulong ng UP, through its research and public service mandate, masisiguro nating handa ang ating mga guro at mag-aaral. May tamang kaalaman, datos, at sistema para manatiling ligtas at makabangon agad kapag may sakuna,” said Education Secretary Juan Edgardo “Sonny” Angara, adding that the partnership aims to ensure that schools are better prepared before disasters strike, so learning disruptions are minimized.

As an immediate step of the partnership, DepEd is encouraging DRRM coordinators nationwide to enroll in the relaunched Fundamentals of Resilience Massive Open Online Courses (MOOCs) offered by the UP Resilience Institute (UPRI) in partnership with UP Open University.

The free, fully online courses will run from January 26 to February 20, 2026, and will cover the basics of resilience as well as hazard and risk assessment.

UP President Angelo Jimenez said the collaboration underscores the role of UP, as the national university, in protecting learners and teachers, especially as climaterelated risks intensify.

The partnership will be implemented through the UPRI, led by Executive Director Mahar Lagmay, which will support DepEd in conducting multi-hazard risk assessments, developing localized hazard maps, integrating disaster risk reduction and climate adaptation modules into learning platforms, and designing a digital hazard risk platform and monitoring systems.

For DepEd schools, the immediate impact is clearer access to training, data, and tools that make disaster preparedness more practical, reducing uncertainty for teachers and helping ensure that learners can return to safe classrooms as quickly as possible after emergencies.

Dizon orders fast-tracking of Aganan flyover in Iloilo; vows completion by Christmas 2026

DEPARTMENT of Public Works and Highways (DPWH) Secretary Vince Dizon has directed the fast-tracking of the long-delayed Aganan Flyover in Iloilo, assuring completion before Christmas this year.

as archbishop of the Archdiocese of Nueva Segovia.

Antonio’s transfer left the Ilagan diocese without a permanent bishop, prompting the designation of an interim leader. Before his reassignment, he oversaw pastoral programs and administrative reforms in Isabela and nearby areas.

Antonio previously served in several leadership roles within the Archdiocese of Nueva Segovia prior to his appointment as bishop.

Church protocols allow the designation of an interim administrator while the process of appointing a new bishop is ongoing. The interim leadership is meant to maintain continuity in pastoral services and diocesan governance.

No timetable has been announced for the appointment of a permanent bishop for the Diocese of Ilagan.

AIPA. . .

Continued from A5

“This is how parliaments secure peace, support prosperity, and keep people at the center of policy—principles that will guide our AIPA Presidency,” he said. He emphasized that peace is more than the absence of conflict, describing it as confidence that differences can be resolved through dialogue and that rules will be respected even under pressure.

According to Dy, “Through AIPA, legislatures strengthen parliamentary diplomacy by working together on shared concerns—maritime security, transnational crime, cyber threats, and disinformation— choosing cooperation over confrontation.”

On economic development, Dy said prosperity must be measured by its impact on ordinary citizens, not by growth figures alone, as he called for laws that encourage innovation, protect workers, strengthen small enterprises, and improve regional connectivity.

Dy also stressed that a people-centered ASEAN begins with dignity, requiring the protection of vulnerable sectors, the empowerment of women and youth, the recognition of migrant workers, and responsible governance of emerging technologies such as artificial intelligence.

“When peace is secured, prosperity is shared, and people remain at the heart of policy, ASEAN moves forward with confidence—as a region that is resilient, connected, and governed by strong institutions,” he said.

He said the agency will expedite the construction of the bridge and ensure infrastructure quality to guarantee the safety of motorists and commuters using the facility.

“I will assure and the President will assure that the Aganan Flyover will be finally finished this year.. before Christmas of 2026,” he said on Monday.

The flyover has been plagued by delays and structural issues, including reported subsidence problems.

Dizon emphasized that the safety of motorists and the public would not be compromised in the rush to complete the infrastructure project.

He also encouraged Iloilo residents to report stalled and defective projects to the DPWH for immediate action. Lorenz S. Marasigan

‘Brazen trifling’: SC holds Francis Leo Marcos in contempt for abusing legal system

TAs the Philippines formally begins its AIPA Presidency, Dy urged ASEAN parliaments to act collectively and move as one toward a new future anchored on unity, shared purpose, and stronger parliamentary cooperation.

“For today’s young public servants, and for the generations that will follow, the Philippines stands ready—to work with you, to listen, and to help secure a peaceful, prosperous, and people-centered ASEAN,” Dy said.

By Joel R. San Juan @jrsanjuan1573

HE Supreme Court (SC) has found Francis Leo Marcos guilty of indirect contempt for abusing court processes when he withdrew his senatorial candidacy in the 2025 elections, days after Court granted his plea for the issuance of a temporary restraining order (TRO) enjoining the Commission on Elections (Comelec) from declaring him a nuisance candidate.

In a 17-page decision penned by Associate Justice Maria Filomena D. Singh, the Court en banc imposed a fine of P30,000 against Marcos for indirect contempt.

Marcos stated that his decision to withdraw was motivated by a sincere commitment to the public interest and a desire to avoid unnecessary government expenditure.

He explained that he felt an overwhelming sense of responsibility to avoid placing a financial burden on the nation upon learning that ballot printing had commenced, and that the inclusion of his name would cause significant delays and costs.

Marcos further claimed that following the Court’s issuance of a TRO in his favor, he began receiving threatening phone calls from

unknown individuals, warning him to withdraw his candidacy or face serious consequences.

He added that his abrupt decision to withdraw from the race without the benefit of legal counsel was due to fear and anxiety which impaired his judgment.

However, the Court said Marcos’ abrupt withdrawal from the senatorial race after the Court issued a TRO did not only undermined the integrity of the electoral process, “but also trifled with the processes of this Court.

“In doing so, he effectively obstructed and demeaned the administration of justice,” the Court said. The SC also said Marcos should have considered the consequences of filing a petition before the SC or withdrawing his candidacy immediately after obtaining a TRO.

“One cannot simply bend the legal system to suit his personal whims. To allow individuals to act without regard for the procedural safeguards of the Judiciary is to invite disorder, undermine the rule of law, and set a dangerous precedent of chaos over order,” the Court declared.

“His act of filing a Petition before this Court, seeking injunctive relief, followed by the withdrawal of his candidacy, days after the Court

issued a TRO, demonstrates a brazen trifling with the Court’s processes and an unpardonable imposition on its precious time,” it added.

It may be recalled that Marcos filed his candidacy for Senator in the 2025 elections.

However, the Comelec declared him a nuisance candidate due to his lack of political affiliation and governmental platform and the similarity of his surname to that of another candidate, Senator Imee Marcos, which could cause confusion among voters.

Marcos challenged this before the SC, arguing that the Comelec violated his right to due process and equal protection when he was not afforded a chance to defend himself.

He also asked for a TRO to prevent the Comelec from excluding his name from the official ballots while the case was pending.

The SC issued the TRO, temporarily prohibiting the Comelec from implementing its decision.

But only two days later, the Comelec informed the SC that Marcos had withdrawn his candidacy, rendering his petition moot.

The SC ruled that Marcos’ actions amounted to indirect contempt for misusing its processes and wasting its time.

The Philippines formally assumed the AIPA Presidency on Sept. 20, 2025, following the turnover by Malaysia’s Speaker Tan Sri Johari Bin Abdul, with Deputy Speaker and TUCP Party-list Rep. Raymond Democrito Mendoza accepting the post on behalf of the Philippine House.

This marks the seventh time the Philippines has hosted AIPA since its establishment in 1977, underscoring the country’s long-standing role in advancing parliamentary diplomacy and ASEAN integration. Jovee Marie N. Dela Cruz

Continued from A5

Throughout December, DAR conducted large-scale distributions of land titles, debt condonation certificates, and farm machinery and equipment (FMEs) in multiple regions as it reinforced the government’s approach of pairing land ownership with concrete support services.

Secretary Estrella emphasized that DAR remains committed to making agrarian reform felt in farmers’ everyday lives.

“We will continue delivering land, debt relief, and support services so agrarian reform becomes a lived reality—not just a promise—for Filipino farming families,” he said.

Continued from A12

The RPS includes a multi-stage rice mill with a capacity of two to three metric tons (MT) per hour worth P54.7 million and two mechanical dryers capable of handling six MT per batch worth P6.18 million.

The DA said its National Rice Program funded the warehouse and operations building costing P25.9 million and additional equipment package of hauling truck, forklift, weighing scale, and moisture meter, with the total project costs at almost P95 million.

The Chief Executive made the announcement during the government distribution of over P200 million worth agri-fishery interventions in Antique last Monday.

“This year, we will build about 300 plus drying systems for...I hope we don’t see people drying palay on the road, only for it to be run over by passing trucks. What a pity for the crops they worked so hard for. And that’s why we are slowly developing the whole system,” Marcos said.

He said the initiative will help boost the country’s production of the local food staple and ensure national food security.

“If something happens to the

Continued from A12

To help accelerate housing delivery, the government has also sought private sector participation.

In December 2025, Megawide Construction Corp. and the Home Development Mutual Fund (PagIBIG Fund) signed an investment and partnership agreement aimed at expediting the Expanded 4PH Program.

Continued from A2

Malampaya East 1 is part of the Malampaya Phase 4 project being undertaken by the Service Contract (SC) 38 consortium led by Prime Energy Resources Development B.V. (Prime Energy), a subsidiary of Razon-led Prime Infra.

The $893-million project covers the drilling of three new wells— Camago 3, Malampaya East 1, and Bagong Pag-asa 1—all meant to prolong the life of the Malampaya gas field, which supplies up to 40 percent of Luzon’s energy demand. Since beginning operations in 2001, the Malampaya project has generated $13.9 billion in revenues for the government. The consortium is led by Prime Energy and its partners—Prime Oil & Gas, Inc., UC38 LLC, and state-owned PNOC Exploration Corporation.

“I just want to congratulate our developer, Prime Energy, and PNOC. You know, this is historic and I would like to really commend the fact that it was during the time of the President when the extension of Malampaya was approved. They really poured billions of pesos into it,” Garin added.

The new gas reservoir discovery will provide the country with energy security and cheaper electricity rates. Garin, however, said, the impact of which will not be felt immediately.

whole world and rice [supplies] will run out, we should always have enough rice [stockpile],” Marcos said.

Meanwhile, the Bureau of Fisheries and Aquatic Resources (BFAR) also turned over P770,000 worth of 11 units of 20-foot Fiberglass Plastic-Reinforced (FRP) boats with marine engines and accessories to fisherfolk beneficiaries to bolster livelihoods in coastal and maritime communities.

Furthermore, the DA said multiple farmer and producer groups received agricultural machinery, including four-wheel tractors and rice combine harvesters, to support land preparation and harvesting.

It added that support was also extended to livestock and poultry development, along with multiplier farms for cattle, carabao, native pigs, goats, chickens, and ducks established under its LEED Program.

Several cooperatives were also awarded photovoltaic solar power systems to reduce energy costs and improve the sustainability of farm operations, the DA said.

“The package of interventions reflects a value-chain approach, combining production, post-harvest, mechanization, and energy efficiency, to raise farm incomes and strengthen food security.”

Under the agreement, PagIBIG will invest P10 billion in 4PH housing projects through the subscription of perpetual preferred shares issued by Megawide Dreamrise Residences Inc. (See: https://businessmirror. com.ph/2025/12/17/pag-ibigmegawide-partner-for-govt4ph-housing-project/)

The investment is expected to fund the delivery of at least 7,000 housing units over the next two to three years at affordable packages.

The Philippines seeks to increase the renewable energy (RE) share in the power generation mix to 30 percent by 2030 and 50 percent by 2040 under the Philippine Energy Plan. Natural gas power plants complement this transition as these operate with the daily intermittency of most RE sources and emit approximately 50 percent less carbon dioxide than coal-fired generation.

President Marcos said the new gas source, dubbed Malampaya East-1 (MAE-1), will strengthen domestic gas supply for many years to come.

“This is equivalent to nearly 14 billion kilowatt-hours of electricity per year. That means it can supply electricity to more than 5.7 million households, 9,500 buildings, or nearly 200,000 schools for a year,” Marcos said in Filipino in a video message.

“We are also proud that Filipinos led this drilling. Most importantly, they completed it without any accidents or environmental incidents,” Marcos said.

Citing the result of initial testing, the President said that the new well flowed at 60 cubic feet per day, indicating its potential to produce as much gas from the original Malampaya wells.

The Malampaya gas well used to provide 20 percent of the electricity in Luzon.

Sandiganbayan issues arrest warrant vs Revilla, six others

THE

By Joel R. San Juan @jrsanjuan1573

Sandiganbayan on Monday issued warrants of arrest against former senator Ramon Revilla Jr. and six others on malversation charges in connection with the P92.8 million alleged ghost flood control project in Pandi, Bulacan.

The arrest warrant was issued just hours after the malversation and graft cases filed the Ombudsman last over the weekend were raffled off on Monday.

Aside from Revilla ordered to be arrested were former DPWH

Atong. . .

Continued from A3

Although he declined to specify the locations being reported, Guiagui said they were mostly in areas in Central Luzon, Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon), and the Bicol Region.

The government is offering a P10-million reward for information leading to the arrest of Ang, the primary accused in the disappearance of more than a dozen cockfight enthusiasts.

Quake. . .

Bulacan district engineers Brice Hernandez, Jaypee Mendoza, Arjay Domasig, Emelita Juat and personnel Juanito Mendoza and Christina Pineda.

During the special raffle, the malversation case was assigned to

At least two arrest warrants have been issued against Ang – one in Laguna and another in Batangas – for kidnapping, kidnapping with homicide, and serious illegal detention.

The CIDG has released Ang’s wanted poster as part of its manhunt.

Citing the Bureau of Immigration, dela Cruz said Ang remains in the Philippines, contrary to claims by whistleblower Julie Patidongan that the businessman has left the country.

Sandiganbayan’s Third andwhile the graft case went to the Fourth Division.

A hold departure order (HDO) was also issued by the Sandiganbayan to prevent the respondents from leaving the country and evade prosecution.

“The electronic warrant was transmitted to the National Police Criminal Investigation and Detection Group [CIDG], National Bureau of Investigation (NBI), and Bureau of Immigration (BI).

The complaint pertains to the release of approximately P76 million for the supposed construction of a flood control project in Purok 5, barangay Bunsuran, Pandi, Bulacan, which turned out to be nonexistent.

Assistant Ombudsman Dominic Clavano IV said during the filing of the cases last Friday that the P92.8 million project was awarded to the contractor on March 28, 2025, when Revilla was still a senator.

fice (FEO) chief, Brig. Gen. Jose Manalad, said the licenses to own and possess firearms (LTOPFs) of Ang’s four co-accused—Rogelio Borican Jr., Rodelo Anig-ig, Jezrel Mahilum, and Emmanuel Falle— have been revoked.

“Despite the absence of any actual construction, the respondents declared the project completed. Thereafter, to facilitate the release of the entire project cost, the respondents are found to have falsified accomplishment reports, issued fraudulent billing documents, and endorsed disbursement vouchers,” Clavano said. Public Works Undersecretary Roberto Bernardo, one of the state witnesses in the flood control scandal under the Department of Justice Witness Protection Program (DOJ-WPP), claimed that he delivered P125 million to Revilla’s residence in 2024, and another P250 million delivered by his staff before the 2025 elections in exchange for facilitating or endorsing flood control projects. Revilla has since denied the allegations, claiming that he was just being used “to muddle the truth” in connection with the flood control mess.

allegedly coddling Ang. “Based on the information we received, there may be police officers helping him,” Tuaño said, adding that criminal and administrative charges may be filed against these officers.

Continued from A3

characterized by lava dome and lava flow effusion. However, increased seismicity was observed, with a total of 19 volcanic earthquakes, 297 rockfall events, and 57 pyroclastic density currents recorded.

Mayon, one of the country’s 24 active volcanoes, is currently under Alert Level 3, or intensified unrest. Phivolcs placed Mayon under its

Dy. . .

Continued from A4

So irrespective of the numbers in Congress, with the House Committee on Justice, for instance, with the House, and later on with the Senate, hopefully it gets tried by the Senate, right? For me, it’s immaterial. What I need to do, I have to do,” he said.

He stressed that he filed the impeachment complaint out of faith that government institutions still have integrity.

However, DOE warned the dwindling reserves of the gas well is expected to be depleted by 2027, which can result in a spike in local energy prices.

Continued from A1 Malampaya. . .

“So that is exactly why I’m here, irrespective of the possible turnout. But then again, miracles do happen. I believe that miracles happen; who knows? The

During the same briefing, the PNP Firearms and Explosives Of -

current alert status last January 6. Mayon’s crater glow remains visible to the naked eye.

A stratovolcano, Mayon has a near-perfect cone, which indicates it is a young and highly active volcano.

Phivolcs said sulfur dioxide flux reached 3,788 tons per day on Saturday.

Under Mayon’s current alert status, Entry into th six-kilometer radius Permanent Danger Zone (PDZ) and entry without vigilance into the Extended Danger Zone

numbers might end up being in our favor,” de Jesus said.

He also expressed hope that some lawmakers might eventually reconsider their positions once they study his allegations more closely.

“Maybe members of Congress might wake up one morning thinking, ‘Hey, you know what, he has a point. Maybe we ought to exact accountability from our president,’” he added.

De Jesus said he is confident that the House of Representatives has the mechanisms to handle impeachment complaints properly.

“I am confident, however, that the House has the mechanisms, especially the House Committee on Justice, to

Ang’s own LTOPF was revoked last Wednesday as part of efforts to capture him. Meanwhile, the PNP spokesman, Brig. Gen. Randulf Tuaño said Lt. Gen. Jose Melencio Nartatez Jr., acting PNP chief, ordered the Directorate for Investigation and Detective Management (DIDM) to identify police officers

(EDZ) is prohibited. Flying aircraft close to the volcano is prohibited because of the possible hazards that may occur.

Meanwhile, at Kanlaon, an older stratovolcano which straddles the provinces of Negros Occidental and Negros Oriental, Phivolcs said a total of 11 volcanic earthquakes were recorded.

Sulfur dioxide flux reached 1885 tons per day on Saturday.

Phivolcs said Kanlaon emitted plumes that reached 200 meters

handle matters of the sort. Impeachment complaints are nothing alien to the House of Representatives,” he said.

He underscored that the very act of filing the complaint reflects his belief that there are still “good men and women” in government.

“But the fact that I had filed this complaint means that I have that modicum of confidence that there are still good men and women in our government, including Congress itself,” de Jesus said.

The first impeachment complaint against the president lists six grounds, including culpable violation of the Constitution, graft and corruption, and betrayal of public trust.

Interior Secretary Juan Victor Remulla earlier said four retired police generals are under investigation for alleged links to Ang. Tuaño said the PNP is also investigating the same individuals, whose identities were not disclosed. PNA

high from the crater. At Kanlaon, which remains under Alert Level 2 or increased unrest, entry into the 4-kilometer radius Permanent Danger Zone (PDZ) and flying of aircraft close to the volcano are prohibited. Two other volcanoes are currently under close watch by Phivolcs—Taal in Batangas and Bulusan in Sorsogon.

The Philippines sits in the so-called Pacific Ring of Fire, a tectonic belt of earthquakes and volcanoes.

Continued from A16

Hontiveros called the “misleading” coordinate issue a “disservice” that squandered the effort and resources of validation teams sent to wrong locations. She also raised that this might mean that there is “cover up” brewing.

“Not immediately. But yes, that’s part of the DOE’s plan that when all our renewables come in, maybe in a few years, it will go down because our supply will increase.

“Yes, its impact is good. The important thing is not just the price but being sure that that we have it. So that even if there is a war in Iran or any other country, we won’t be affected.

“But I would rather be cautious about that because they still need their smart scientists and engineers, they need to set up the entire system. So, we will know that and it will be part of our system within the year, I think. So, yes, let’s just wait,” the energy chief said.

This has prompted the government to intensify its push for more gas explorations near the Malampaya gas fields under its Malampaya Phase 4 Drilling Campaign, which also includes the Camago-2 and the Bagong Pag-asa wells. Marcos hopes more gas sources can be found in the ongoing drilling initiatives around the said area.

“The next steps are the completion and testing of the Camago-3, followed by the drilling of the Pagasa exploration well to pursue more potential gas resources,” he said.

former BSP deputy governor warned that the local currency could plunge to “the usual number of 60 pesos to a dollar.”

On Monday, the Philippine peso closed at P59.44 against the dollar, down by nine centavos from the P59.35 finish last Friday but only two centavos up from last Thursday’s historic low finish of P59.46.

that the movement of the peso still rests on many factors.

The former deputy governor explained that the “fundamental” reason for the peso’s recent weakening is the “quite precarious” external payment situation, alongside the negative market sentiment and the possible prolonged pause in the US Fed.

While he warned that the failure of these government reforms to materialize could trigger a significant swing in the local currency, Guinigundo pointed out

“The external payment situation is also quite precarious. First nine months current accounts stood at about $12.5 billion and despite OFW remittances and BPO receipts, the overall balance of payments came up to about $4.8 billion,” Guinigundo said.

“This is the fundamental reason why the peso is weakening recently, at the same time, negative market sentiment is driving further the erosion of business trust and confidence. And finally, I also said about the possible prolonged pause in the US Fed. Now the BSP continues to sound dovish, at least for the first few meetings of the Monetary Board, and that would also send the signal to the foreign exchange market,” he also noted.

When the differential between domestic and the foreign interest rates start widening again or narrowing relative to the US, Guinigundo said a weakening peso is to be expected. Big reforms. . .

For his part, Senator Erwin Tulfo expressed frustration over the slow pace, noting that thousands of complaints have been filed through the Sumbong sa Pangulo portal. “Maybe by the time this administration ends, the cases on flood control will not finish,” Tulfo said.

Bisnar acknowledged the department’s difficult position, saying: “That is how our situation will pan out.” When asked about the timeline for submitting validated cases to the ICI, Bisnar committed to completing assessments of 292 out of 337 projects within the first quarter, submitting results as each validation is finished.

Big Bold Reforms: Turning the 2026 blueprint into a sustainable reality editorial

THE Philippine economic team’s recent unveiling of the “Big Bold Reforms: The Philippines 2026” initiative is a necessary, if not overdue, exercise in confidence-building. Faced with a cooling economy and the shadow of corruption allegations, the Marcos administration is attempting to pivot the narrative from one of stagnation to one of decisive action. While the rhetoric is promising, the true measure of these reforms will not be found in the halls of a forum, but in the restoration of trust and the tangible easing of the cost of doing business. (Read the BusinessMirror story: “Big, bold reforms’ to show PHL biz resolve,” January 17, 2026).

The context for this “boldness” is sobering. The third-quarter growth of 4 percent in 2025 fell significantly short of the government’s own targets. While Finance Secretary Frederick Go is correct to point out that a 5 percent to 6 percent growth rate remains enviable compared to the global average, one cannot ignore the “domestic headwinds” that slowed the momentum. Specifically, the mention of dampened investor sentiment following corruption allegations in flood control projects highlights a critical vulnerability: no amount of macroeconomic stability can fully compensate for a perceived lack of integrity in public spending.

The slate of reforms presented is, on paper, impressive and pragmatic. The resolution of the Comprehensive Automotive Resurgence Strategy (CARS) program funding is a vital move for sovereign credibility. By settling unpaid tax perks with industry giants like Mitsubishi and Toyota, the government is signaling that it honors its commitments. In the world of foreign direct investment, consistency is the most valuable currency.

Equally significant is the push for a digitalized, risk-based audit system. For too long, the “human element” in tax and customs audits has been a breeding ground for discretion and, by extension, corruption. By reducing the number of departments authorized to issue letters of authority and consolidating trade requirements into the National Single Window, the government is finally attacking the “red tape” that has historically strangled small and medium enterprises and deterred foreign players.

However, the decision to grant visa-free entry to Chinese nationals for 14 days is a calculated risk, especially considering the POGO experience. While aimed at boosting tourism and trade with a major partner, it arrives at a time of complex geopolitical tensions. The success of this move will depend on the government’s ability to balance economic pragmatism with national security and public sentiment.

As the Philippines prepares to chair ASEAN this year, the stakes could not be higher. This is the country’s “litmus test” on the global stage. The government’s call for the private sector to “put their best foot forward” is a valid one, but the private sector can only do so much if the structural foundations remain shaky.

Secretary Go’s assertion that the government is “moving forward decisively and not being distracted” is the right message to send. But for investors to truly buy into this “Philippine 2026” vision, they need to see that these reforms are more than just a reaction to a bad quarter. They need to see a sustained assault on corruption, a genuine commitment to infrastructure, and a bureaucracy that facilitates rather than frustrates.

“Big and bold” are excellent adjectives for a manifesto. Now, the public and the investor community await the verbs—the actual implementation that will turn these promises into a sustainable 6 percent reality. The blueprint is on the table; the task now is to build it without the cracks of the past.

Opinion

AJohn Mangun

OUTSIDE THE BOX

RGUMENTS about The West versus Asia tend to circle the same tired conclusions. One side celebrates freedom, innovation, and rights. The other emphasizes order, growth, and stability. Both descriptions contain truth, and both miss the point.

A clearer way to examine the difference is through a SWOT analysis, a framework that looks at Strengths, Weaknesses, Opportunities, and Threats. It is a blunt tool, but it forces discipline. It also exposes where countries like the Philippines are uniquely positioned, provided leadership is willing to notice.

Any serious comparison must begin with primary principles. Society, and therefore civilization, rests on three foundations: family, religion, and tradition. These are not sentimental preferences. They function as moral guard rails, limiting behavior just enough to preserve both freedom and social cohesion.

When these rails weaken, freedom turns erratic and institutions strain. The West and Asia diverge not because one has values and the other does not, but because they treat these foundations differently and integrate them into modern systems with varying degrees of success.

Western societies retain undeniable strengths. Institutional credibility remains high. Courts, contracts, and capital markets are relatively predictable. According to World Bank governance indicators, the rule of

T. Anthony C. Cabangon

Lourdes M. Fernandez

Jennifer A. Ng Vittorio V. Vitug

Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso, Dionisio L. Pelayo

Ruben M. Cruz Jr.

Eduardo A. Davad Nonilon G. Reyes

D. Edgard A. Cabangon

V.

M.

law and regulatory quality remain stronger across North America and much of Europe than in most of Asia. These conditions support innovation. OECD data show that Western economies continue to dominate advanced research, venture capital flows, and high value services. The United States, followed by Europe, still sets standards in finance, technology, and higher education. These are real advantages, even as Western societies argue loudly about how to manage them.

Asia’s strengths lie elsewhere. Scale, speed, and coordination define the region. Family structures remain stronger, religion retains social influence, and tradition still carries authority. These factors support discipline and long-term planning. The International Monetary Fund projects that Asia will account for more than 60 percent of global economic growth in the coming years, driven by demographics and urbanization. Governments intervene more directly, sometimes excessively, but often decisively. From infrastructure to manufacturing, execution matters, and Asia executes.

Weaknesses are where the con -

Resurgence of vinyls

VKuwentong Peyups

INYLS are experiencing a significant and sustained comeback over the past decade, driven by younger generations and older fans seeking a deeper and more tangible music experience.

When my father was still alive, our house on weekends were normally filled with soothing sounds emanating from the phonograph playing LP vinyl records.

Vinyl records are  sometimes called LPs, which stands for “long playing” or “long play.” It is an analog sound storage medium, a phonograph record format characterized by a speed in rpm and use of the “microgroove” groove specification.

Rpm stands for revolutions per minute, sometimes called rotational speed or how many times the record turns completely, in a period of one minute. Essentially, the higher the Rpm, the more length of vinyl that can be picked up by the needle. This results in better sound reproduction. The groove is what gives a record its sound.

I remember the discipline and dedication of my father in cleaning

trast becomes uncomfortable. Western societies are experiencing erosion in their foundational pillars. Family formation has declined, religious participation has weakened, and tradition is frequently treated as an inconvenience. These shifts have economic consequences. Aging populations strain public finances, labor participation tightens, and politics becomes fragmented. US federal debt has exceeded $34 trillion, limiting fiscal flexibility. Without shared moral reference points, freedom becomes a privilege, and compromise becomes questionable.

Asian societies face a different internal strain. Economic growth has often outpaced institutional maturity. Regulatory inconsistency, corruption, and concentrated power remain risks. Transparency International data continues to show much worse corruption perception scores across much of Asia compared with Western peers, despite notable exceptions. Tradition, while stabilizing, can also be used to resist accountability. The Philippines reflects this tension clearly. Strong families provide resilience, but they also blur lines between public duty and private loyalty.

It is in the opportunities portion of the SWOT framework that the Philippines should command attention. Western economies increasingly depend on Asia for manufacturing, labor, and markets, while Asian economies need Western technology, capital, and legal frameworks. The Philippines sits at this intersection with English fluency, democratic institutions, and a Christian moral framework that aligns with the West while geography and cultural

the vinyl records using a microfiber towel or specific soft bristle brush, perhaps to ensure they last for several years to come.

My father explained that vinyl records should be religiously wiped off each time they are played because these are vulnerable to dust, heat warping, scuffs, and scratches. Dust in the groove is usually heard as noise and may be ground into the vinyl by the passing stylus (needle) causing lasting damage.

Vinyls had been the main vehicle for the commercial distribution of pop music from the 1950s until the 1980s when it was largely replaced by the cassette tape, the compact disc (CD), digital downloads, and then streaming services.

Collectors consider the LPs as  ‘the antidote to a frenetic digital world,’ allowing listeners to enjoy a fulllength album without distractions, without notifications, without skipping songs or rewinding. Some lis-

familiarity anchors it in Asia. This dual positioning enables it to serve as a neutral hub for trust-intensive industries like BPO, engineering services, arbitration, logistics, and tech support—higher-value roles few Asian peers can match.

The frustration is that this advantage is largely accidental rather than strategic. Government and private policy debates remain inward looking, fragmented, and short term. Infrastructure, education, and regulatory reforms rarely frame around an international role. The country wavers between imitation and hesitation, as if choosing between West and Asia were required. It is not.

The threats complete the picture. Western societies risk moral and institutional drift. Asia faces demographic decline and over centralization, particularly in East Asia, where United Nations data show sharply falling fertility rates. For the Philippines, the greatest threat is misunderstanding its position amid US-China rivalry—treating it as ideological rather than pragmatic squanders opportunity. The difference between Western and Asian societies is ultimately about balance. The Philippines has access to both systems and shares the moral foundations that make each function. If leadership aligns policy with this reality, the country can move from peripheral participant to strategic connector. The opportunity is clear. Whether it is recognized remains the open question.

E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

teners find the records’ imperfections more subjectively pleasant than digital audio.

Vinyl records were featured in the short film “Ang Gasgas na Plaka ni Lolo Bert,” which was one of the 10 short film finalists of the 16th Cinemalaya Independent Film Festival in 2020. The film is about  a closeted gay man in his 60s (Dido de la Paz) who has been living with HIV for 10 years. His monotonous life takes a sudden turn when he receives an old vinyl record from his dead ex-lover and his fixation with the owner of a store selling old vinyl records (Soliman Cruz).

Five years later, scenes of Piolo Pascual listening to a  phonograph playing LP vinyl records gave

Opinion

EU eyes tariffs on €93 billion of US goods over new Trump threat

By Jorge Valero & Alberto Nardelli

THE European Union is in talks to potentially impose tariffs on €93 billion ($108 billion) of US goods if President Donald Trump follows through on his threat to hit European countries with a 10 percent levy on February 1.

The EU is also weighing additional countermeasures beyond the tariffs but will first try to find a diplomatic solution, according to people familiar with the discussions. Representatives from the EU’s 27 countries met Sunday to begin preparing options. EU leaders will hold an emergency meeting in Brussels later this week to explore possible retaliatory measures.

European Council President Antonio Costa said in a social media post Sunday that the bloc’s nations were united in support of Denmark and Greenland and were ready “to defend ourselves against any form of coercion.”

Trump on Saturday announced a 10 percent tariff on goods from eight European countries starting February 1, rising to 25 percent in June, unless there’s a deal for the “purchase of Greenland.” Trump levied the threat after the countries said they would undertake token Nato military planning exercises in the semi-autonomous Danish territory.

UK Prime Minister Keir Starmer blasted Trump’s comments as “completely wrong” and Sweden’s Ulf Kristersson said his country wouldn’t be “blackmailed.” French Prime Minister Emmanuel Macron, who called the threat “unacceptable,” plans to request that the EU activate its most powerful trade retaliation tool, the so-called anti-coercion instrument.

The most immediate and tangible reaction from the EU was that it will halt approval of its July trade deal with the US, which still requires an endorsement from the European Parliament. The European People’s Party, the largest group in parliament, said it would join other parties in blocking ratification of the accord.

“President Trump has triggered an avalanche that threatens to destroy decades of transatlantic cooperation,” Stefan Lofven, president of the Party of European Socialists, said in a Sunday statement. The party, whose parliamentary group is the second largest in Brussels, supports suspending the trade agreement and called on the EU to examine using the anti-coercion instrument.

The trade deal, which many in Europe criticized as too lopsided in Washington’s favor, saw the EU agree to remove nearly all tariffs on American products. The EU also accepted a 15 percent duty on most exports to the US and 50 percent on steel and aluminum. The US has since expanded the list of goods included in the higher 50 percent rate to include hundreds of additional products that contain the metals.

The EU has already approved retaliatory tariffs on €93 billion of US products but suspended their implementation. If Trump moves forward with his threat and imposes duties on the countries at the beginning of February, the EU can allow the countermeasures to be reintroduced, said the people, who spoke on the condition of anonymity.

The measures would target American industrial goods including Boeing Co. aircraft, US-made cars and bourbon.  Trump’s tariff threat could prove an unwelcome interruption to the

Set in late-1960s and early 70s Manila, the film follows a group of policemen led by Capt. Homer Magtibay (Piolo Pascual), station chief Major Conrado Belarmino (Ariel Rivera), and 1st Lt. Billy Ojeda (Enrique Gil) navigating a city caught between criminal violence, political maneuvering, and an eroding

Not so fast

Orally in European equities, which have outperformed their US peers as investors poured into various regional sectors from defense to miners and chip-equipment makers. The region’s outlook has been boosted by increased German fiscal spending, lower interest rates and expectations of improving profits.

If Trump follows through with the full 25 percent tariff threat, it could cut the targeted countries’ US exports by as much as 50 percent, with Germany, Sweden and Denmark the most exposed, according to Bloomberg Economics estimates.

Macron’s threat to use the anticoercion instrument would mark a massive escalation by the EU.

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 market or restricting firms from bidding for public contracts in Europe.

“The commission should immediately trigger the anti-coercion instrument and the council authorize the application of matching tariffs on US imports,” said Ignacio Garcia Bercero, a former senior European Commission official who was responsible for trade talks with the US. “If the EU is not able to show solidarity to Denmark and the targeted member states it would lose any credibility or legitimacy.”

US Treasury Secretary Scott Bessent all but dismissed EU threats to halt a tariff deal reached between Trump and the bloc last year, saying on NBC’s Meet the Press that the US president is using strategic leverage to get what he wants.

“Europeans project weakness, US projects strength,” he said Sunday. “The European leaders will come around and they will understand that they need to be under the US security umbrella.”

“Trump’s tariffs—including existing rates and the additional 10 percent—could cut exports from the targeted countries to the US by up to 50 percent,” said Bloomberg economists Nicole Gorton-Caratelli, Antonio Barroso and Maeva Cousin.

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 planning exercise.

Indeed, the German military reconnaissance team that arrived in Greenland on Friday is already on its way back after a 44-hour deployment on the Arctic island, Bild newspaper reported on Sunday. Bloomberg

public order. They were investigating killings linked to rival gangs involved in illegal gambling, theft, and prostitution. The case exposes a wider system of corruption amidst the upheaval of the First Quarter Storm. The film featured a Manila drowning in student protests led by the activists from the University of the Philippines, riots, violent dispersals, and gang wars with its production design of a visceral recreation of

Siegfred Bueno Mison, Esq.

THE PATRIOT

NE church group recently concluded its prayer and fasting week with a theme—Brokenness, The Path to Blessing. For many, being broken entails hardship or struggle. A financially broke person is one who simply does not having enough money or, worse, who is in serious debt or bankrupt.

Being emotionally broken happens when relationships fail or loved ones pass away. Of course, physical brokenness happens when one can no longer do the things before, due to some physical disability or impairment. Indeed, a real and cruel world can break us in many ways.

I was broken many times over before. When I failed my first subject in school, I was heartbroken. With all modesty, nobody in our family flunks or has flunked in any subject in school. When I was kicked out unceremoniously from government service 10 years ago, I was shamed and broken.

Aside from being kicked out, I was persecuted in media. When a previous relationship turned into a dead end, I was hurt. When loved ones stopped talking and caring for me, I was flustered and devastated. Yet, years after, my professional career has been much better and emotional connections with loved ones were restored.

To a large extent, our country has been broken in oh so many ways. Institutions have failed us, one by one, leading to disappointment and frustration. Corruption has been rampant. Abusive government officials remain in power. Those caught, get arrested sometimes. But they rarely go to prison. A handful are acquitted. Law enforcement can be selective and

paid to the highest bidder. Government scandals come and go in a cyclical manner as if they are part of the system. Personalities behind the “Hello Garci” scandal, which evidently showed election fraud, are still in power. Most of those involved in the Mamasapano fiasco are still roaming the halls of power in government.

Perhaps unknown to many, some of those officials convicted more than 10 years ago in the PDAF anomaly are still free and, worse, elected yet again by their constituents.

The Pharmally issue apparently has died down and the perpetrators are still enjoying the fruits of their evil scheme.

Those responsible for legislated corruption in our national budget leading to anomalous flood control projects have either escaped (being allowed to escape?) or have resorted to all kinds of tactics, legal and illegal, to evade accountability.

For me, the procedural lapse in the supposed reversal of judgment in the case of Senator Joel Villanueva by the Ombudsman reeks of a possible unholy transaction, coming from a son of a holy man.

There are just too many instances where I see broken systems since I became a lawyer. The Philippines as a country is financially broken, as in serious debt. We as Filipinos are bro -

ken, to the extent that Filipino pride is somewhat diminished compared to how it was 50 years ago.

Faith in the criminal justice system has eroded, significantly in the past few years. But, the recently concluded prayer and fasting activities taught me that whenever we are broken, we should never give up. We should not even look for blame in others.

Some of my friends have looked left and blamed the poorly educated electorate. Others have looked right and blamed the few families who have lorded over their respective fiefdoms. What I learned from my pastor-mentor was, in all brokenness moments, to simply look up, instead of looking left or right. Looking up means surrendering to God and trust His will in all things.

All of these events of brokenness are parts of the path towards blessings. Being broken can be a blessing as these trials and tribulations make us stronger. These are lessons that ought to sharpen us to become a better individuals.

Motivational speaker Brian Tracy said—“Develop an attitude of gratitude, and give thanks for everything that happens to you, knowing that every step forward is a step toward achieving something bigger and better than your current situation.”

All these trials that our country faces today and even yesterday are building blocks for the Filipino to be better in terms of choosing wiser leaders, doing things for the community before themselves, and truly loving the Philippines.

Author Stephen Hawking puts this attitude of gratitude in this wise—“However difficult life may seem, there is always something you can do and succeed at. Where there’s life, there’s hope.” We may have heard these words oh so many times before, but do we really live by them? The Holy Book tells us: “The Lord is close to the brokenhearted and saves those who are crushed in

spirit.” (Psalms 34:18). This closeness can further be maximized by surrendering to His Sovereign Will. Mere surrender is not enough as the church group, during its prayer and fasting week, advised the congregation to pray fervently and relentlessly. Prayers may not remove the suffering, but they invite God’s strength to endure them. Finally, after looking up to Him (surrender) and constantly talking to Him (prayer), believers are expected obedience, even when it will entail suffering, in the same way that Jesus “humbled himself by becoming obedient to death—even death on a cross!” (Philippians 2:8). We can ask for what we want but we must remain mindful that God’s control is supreme—“Father, if you are willing, take this cup from me; yet not my will, but yours be done.”(Luke 22:42). Believers must obey even when doing so is costly.  In this era of brokenness of our beloved nation, we need to keep on trusting in Him. I believe that this series of unfortunate events of corruption and anomalies in government equating to brokenness is a path to blessing. “Not so fast,” I say when it comes to surrender. But we need to gradually understand the value the surrender, not to the broken system of government or promises of politicians, but to His ever faithful covenant among His followers.

Siegfred has a diversified set of education and experiences which has made him a game changer and a servant leader in organizations. His professional degrees came from the United States Military Academy at West Point in New York, Ateneo Law School, and University of Southern California, Los Angeles, USA. His corporate experiences include stints as general counsel for the country’s flag carrier, a food exporter with manufacturing plants in Davao and in Laguna, and a sports distributor company. Siegfred is a former soldier and a lawyer by profession, a teacher and inspirational speaker by passion, and a book author and a writer with a mission.

European stocks set to tumble on fresh tariff threats from Trump

By Farah Elbahrawy, Julien Ponthus & Macarena Muñoz

US President Donald Trump’s announcement of new tariffs on eight European countries over Greenland weighed on risk sentiment as trading kicked off Monday.

Futures on the Euro Stoxx 50 slumped 1.3 percent, while those on the S&P 500 dropped 0.8 percent as of 6:36 a.m. in London. US cash markets will be closed for a holiday Monday. The dollar weakened against all its Group-of-10 peers, losing the most against the Swiss Franc as traders sought haven assets. The euro reversed early losses to trade higher.

Trump on Saturday announced a 10 percent tariff as of February 1 on goods from European countries that have rallied to support Greenland in the face of US threats to seize the semi-autonomous Danish territory. He said the levies would increase to 25 percent in June unless and until “a Deal is reached for the Complete and Total purchase of Greenland.”

The announcement drew a quick rebuke from European leaders including French President Emmanuel Macron, who intends to request the activation of the European Union’s anti-coercion instrument—the bloc’s most powerful retaliatory tool. The European Union is in talks to potentially impose tariffs on €93 billion ($108 billion) of US goods, if Trump follows through on the threat of the 10 percent levy.

“In the near term, any surprise escalation via tariffs on Europe could trigger a classic risk-off episode, especially after a strong start to the year supported by con-

the 1960s, authentically bringing to life the era through meticulous sets and historical detail.

These included storefronts to buildings, vintage vehicles (periodaccurate police cruisers and other cars) as well as the office equipment like old-fashioned typewriters, rotary telephones, phonographs that are rarely seen today.

Costuming and style are utilized in sharp uniforms, specific hairstyles, and clothing styles of the era.

structive sentiment,” said Florian Ielpo, head of macro research at Lombard Odier Asset Management. “In that scenario, government bonds could benefit, quality assets would likely outperform, and gold could catch a bid.”

Shares of automakers were down on Tradegate in early trading on Monday, with Porsche SE, Volkswagen AG and Mercedes-Benz Group all sliding more than 3 percent. Defense stocks were headed higher, with Rheinmetall AG up 1.2 percent.

The impact is likely to be on equities in the short-term and less obvious for bonds and currencies, according to Vincent Mortier, chief investment officer at Amundi SA. The US holiday on Monday also suggests thinner market conditions and no Treasury cash trade overnight.

The fallout from the news “could have some negative impact on European growth prospects but most probably on a very limited scale,” Mortier said. “Longer term, that could be a positive catalyst for Europe to accelerate its strategic autonomy agenda and form new alliances.”

Trump’s tariff threat could prove an unwelcome interruption to the rally in European equities, which have outperformed their US peers as investors poured into various regional sectors from defense to miners and chip-equipment makers. The region’s outlook has been boosted by increased German fiscal spending, lower interest rates and expectations of improving profits.

“Futures are down as the nervousness is palpable. All in all, you have so many issues piling up—from credit cards to

The award was aptly  given to Digo Ricio and the Big Bulb Design Lab, who transformed the film’s sets into a vivid reflection of the era’s identity and struggles, using bold colors and meticulous details

“The soft focus of nostalgia to blur the sharp edges of truth. It captures the hazy slide of moral ambiguity, where reality hides for comfort and integrity dissolves into justification.”

The film also took home Third Best Picture, Best Cinematogra -

the independence of the Fed and tariffs—that I really don’t see the case for stock markets to keep on breaching new records,” said Alexandre Baradez, chief market analyst at IG in Paris. “This is actually a time when investors might be tempted to cut risk and take some profits.”

Since the start of 2025, the Stoxx Europe 600 has climbed 36 percent in dollar terms, double the S&P 500’s gains over the same period. The European benchmark now trades at nearly 16 times forward earnings, above its average over the past 15 years and narrowing its discount to US peers to about 30 percent.

“The year had started pretty well across financial markets but this new situation may trigger some profit taking,” said Vincent Juvyns, chief investment strategist at ING in Brussels. “If one looks strictly at the raised tariffs, it’s something that economically could be absorbed but the possibility of a break within the Western world would have consequences that I fail to measure the scale of.”

Citigroup Inc. strategists led by Beata Manthey have previously estimated that a 10 percent tariff on Europe should result in a 2 to 3 percentagepoint drag on European earnings-pershare growth.

The picture is worse for those most exposed to the US levies. A Goldman Sachs Group Inc. basket of exposed companies including shipping firm A.P. Moller—Maersk A/S, carmaker BMW AG and electrical-equipment maker Legrand SA was barely changed last year, while the Stoxx 600 rallied 17 percent. Luxury goods, carmakers as well as

phy (Raymond Red), Best Musical Score,  Best Sound Design, Best Original Song for “Sandalan,” Best Float, and the Gatpuno J. Villegas Award.

The Best Production Design was first awarded in 1976 at the 2nd Metro Manila Film Festival ceremony, to Augusto Buenaventura for Diligin mo ng Hamog ang Uhaw na Lupa. The vinyl comeback  is a strong, ongoing trend driven by nostalgia,

miners were among sectors that came under pressure after Trump’s “Liberation Day” in April. Stocks exposed to international value chains, such as consumer discretionary and everyday goods, could also be impacted.

Still, any reaction might be shortlived until there’s more clarity on the situation. Defense stocks could also rally, said ING’s Juvyns, limiting the scope of a selloff.

“The fact that this threat was on social media instead of distilled into an executive order and it has a delayed implementation means a lot of investors might just decide to wait things out before overreacting,” said Brian Jacobsen, chief economic strategist at Annex Wealth Management. That could prove the case especially for the euro, with Deutsche Bank AG predicting a limited fallout for the regional currency, in part because of how much the US relies on Europe for capital. The tariffs could also be a catalyst for greater EU political cohesion, further meaning any negative fallout on the euro against the dollar may not be sustained this week.

“From our perspective the key thing to watch over the next few days will be whether the EU decides to activate its anti-coercion instrument by putting measures that impact capital markets on the table,” George Saravelos, Deutsche’s global head of FX research, wrote in a note to clients. “It is a weaponization of capital rather than trade flows that would by far be the most disruptive to markets.” With assistance from Simon Kennedy, Ruth Carson, Kurt Schussler, Sagarika Jaisinghani and Bre Bradham / Bloomberg

unique “warm” sound, and the ritual of physical ownership. The act of playing a record encourages focused listening, a contrast to instant streaming especially to collectors seeking tangible connections to music’s past.

of the

2nd Front Page

BusinessMirror

Services-led growth needs productivity boost—PIDS

By Justine Xyrah Garcia

THEPhilippines’s shift to a services-led economy has made productivity in the sector a central issue for long-term growth, state think tank Philippine Institute for Development Studies (PIDS) said.

In a discussion paper on labor productivity in services, PIDS warned that while services now account for the largest share of both gross domestic product (GDP) and employment among major economic sectors, job growth has largely taken place in subsectors with low productivity and low wages.

This pattern, the think tank said, limits the sector’s ability to raise incomes and sustain economic expansion.

Using gross value added per worker at constant 2018 prices, PIDS found that financial and insurance activities recorded labor productivity of about P2.02 million per worker in 2012, rising to around P4.09 million by 2024.

In contrast, labor-absorbing services lagged far behind. Wholesale and retail trade posted about P378,000 per worker in 2024, transportation and storage around P218,000, and accommodation and food service activities about P177,000.

mainly on improvements within sectors rather than on workers moving into much more productive activities.

PHL TO HOST ASEAN ENERGY OFFICIALS MEETING THIS WEEK

By Lenie Lectura @llectura

THE Philippines is set to host this week the Association of Southeast Asian Nations (Asean) Special Senior Officials Meeting on Energy (SOME) and Its associated meetings in Bohol.

“The growth of the Philippine economy has been service sectorled, and while employment has increased, this has occurred mostly in subsectors of services where labor productivity and wages are relatively low,” PIDS said. It added that “enhancing productivity in labor-absorbing services is essential for both growth and equity.”

PIDS noted that these gaps have persisted over time, pointing to a clear divide between high-value services and those that employ the most workers.

The warning comes as services have overtaken agriculture and industry as the main pillar of the economy. Because of this shift, PIDS noted that weaknesses in services productivity now have wider effects on overall growth and income prospects than in the past. The study showed wide productivity gaps within the services sector.

The state think tank identified finance, real estate, and information and communication as the most productive services, while retail trade, transport, accommodation, and other services consistently ranked at the bottom.

Beyond productivity levels, the report examined where productivity growth has been coming from.

Using decomposition analysis, PIDS found that labor productivity growth in the Philippines has relied

“For 2012-2024, the aggregate labor productivity growth came mainly from intrasectoral growth [69.6 percent]. The largest contributor to labor productivity growth was services [76 percent], followed by industry [30 percent]. Agriculture registered -6 percent. Within services, the largest contributors were wholesale and retail trade and financial and insurance services, followed by professional and business services,” it noted.

The study stressed that employment growth alone will not raise productivity. Without stronger management practices, greater innovation, and wider use of technology at the firm level, productivity gains are likely to remain limited even as more jobs are created.

This constraint is tied to a broader shift in the country’s growth path. The report argued that the Philippines can no longer rely on traditional manufacturing-led industrialization to absorb large numbers of workers.

Construction permits still down in Nov—PSA

THE number of approved building permits in the country remained low in November 2025, with the Philippine Statistics Authority (PSA) reporting a double-digit contraction in both the volume and value of constructions.

Most recent data from the PSA showed that there were 12,281 approved constructions for the month, down by 12.7 percent from 14,066 in November 2024. The figure was also lower than the 13,732 permits approved in October, indicating softer construction activity heading into the year-end.

By type, residential buildings continued to account for the largest share of approved constructions at 7,691 projects, or nearly three in five of the total. This was 14.5 per-

cent lower than the same period last year. Most of these were singlefamily homes, which made up 88.8 percent or 6,829 projects.

Non-residential constructions, meanwhile, reached 2,854 projects or 23.2 percent of total activity. These were led by commercial buildings at 1,894 projects, or about two-thirds of the non-residential segment.

Other types of construction also posted mixed results. Additions, alterations and repairs of existing structures dropped 12.4 percent from last year’s level, while other construction saw an annual increase of 24 percent. In terms of value, total approved constructions reached P40.20 billion in November, down by 22.6 percent from P51.91 billion a year

earlier.

Residential buildings were valued at P19.12 billion, an 18.2 percent year-on-year decrease. Singletype houses accounted for P10.29 billion, or 53.8 percent of residential value.

Non-residential buildings posted P17.51 billion, reflecting a 28-percent decline. Within this segment, commercial buildings held the largest share at P7.02 billion, followed by institutional buildings at P6.72 billion.

Project scale also weakened during the month. Total approved floor area reached 2.75 million square meters in November, posting a 28.7-percent drop from the 3.86 million square meters recorded a year earlier.

Non-residential buildings ac-

counted for 1.56 million square meters, or 56.8 percent of the total, while residential floor area fell by 39.4 percent to 1.15 million square meters.

Despite the slowdown in activity and value, construction costs increased.

The average cost of construction rose 7.1 percent to P13,406.16 per square meter in November from P12,517.15 a year earlier.

Residential buildings posted an average cost of P16,660.67 per square meter, followed by non-residential at P11,127.90.

Condominiums remained the most expensive residential type at P54,999.59 per square meter, while institutional buildings topped nonresidential at P14,527.17. Justine Xyrah Garcia

Under the Philippines’ Asean Chairship, the meetings will convene Asean energy senior officials and governing council members on January 21 and 22 to discuss new initiatives and review ongoing work programs across Asean energy subsectors and ensure that regional cooperation remains coordinated, implementation-ready, and responsive to evolving needs.

“The Philippines is advancing an energy agenda that delivers security for people, inclusive economic growth, innovation, and resilience across Asean,” said DOE Undersecretary and Philippine Senior Official on Energy Leader Felix William B. Fuentebella. “Through these technical discussions, we are turning shared commitments into practical action, enabling Asean to move forward with confidence in building a secure, sustainable, and resilient energy future.”

The discussions will help pre -

pare for the initial implementation of the Asean Plan of Action for Energy Cooperation (APAEC) 2026–2030, endorsed last year. The APAEC 2026–2030 serves as Asean’s five-year blueprint for energy cooperation, aligning shared priorities and coordinated actions across the seven program areas such as Asean Power Grid, Clean Coal Transformation, Renewable Energy, Civilian Nuclear Energy, Oil and Gas Connectivity, Security, and Sustainability, Energy Efficiency and Conservation, and Regional Energy Policy and Planning. The meetings are focused on technical alignment and readiness, ensuring that Asean’s energy work programs are synchronized early to support smoother execution across the year.

“Number one, Asean power grid. How do we work together utilizing all energy resources and addressing all the supply chain of all Asean member states so that we can be a more competitive region.

“Under that, we are securing people. In securing people, we want to be more inclusive so we are looking into, for example, how do we connect island areas to make it inclusive in the Asean power grid?

“After securing people and

Wrong coordinates in flood-control works to force re-validation

By Lorenz S. Marasigan

THE government will have to restart validation efforts on thousands of flood control projects after discovering that incorrect coordinates were used to verify the projects, “misleading” inspection teams and potentially “masking” the extent of ghost projects across the country.

During a Senate Blue Ribbon Committee hearing, Department of Public Works and Highways (DPWH) Undersecretary Arthur Bisnar revealed that out of 337 projects examined, 291 or 86.35 percent were located more than 50 meters away from their published coordinates, with some projects found as far as 2.14 kilometers from their supposed locations.

“The wrong coordinates were given,” Bisnar told senators, citing examples including a P94.56-million flood control mitigation structure in Bauang River Basin that was 1.97 kilometers away from its MultiYear Program Scheduling (MYPS) coordinates, and a P92.16-million project along Cagayan River Basin located 2.14 kilometers from its published position.

“These examples are all throughout the different regions,” Bisnar added.

He said that of 10,238 flood control projects inspected by the Armed Forces and the Police, validation teams “most likely went to the wrong location” due to the erroneous coordinates.

“Out of the 10,000 validated, 252 were reported as non-existent, which we will have to validate again,” Bisnar said. “The effect is basically we will have to restart. [Even] if we have finished one-third of the 30,000 flood control projects, we will have to reassess just to be sure with our data.”

Former Public Works Secretary Manuel Bonoan explained that the coordinates confusion stemmed from rushed data submission following a presidential directive.

President Ferdinand Marcos Jr. ordered DPWH to submit a list of

completed flood control projects from July 2022 to May 2025 “at the earliest possible time.”

“With that, we had very little time to go through all the data,” Bonoan said.

On August 4, 2025, Bonoan submitted a list of 9,855 projects to the Office of the President, emphasizing that this was prepared by the late Public Works Undersecretary Catalina Cabral.

“Truth of the matter is because of the time constraint that we have to submit, I instructed the late Undersecretary Cabral to collate the information we need to submit to the Office of the President,” Bonoan said.

MYPS refers to the coordinates of the project as spelled out in the National Expenditure Program. However, actual project locations used in construction contracts are referred to as “at-stake” locations. Changing project coordinates had been a common practice at the DPWH for flood control structures, particularly when rivers shifted course. However, Senator Sherwin Gatchalian suggested the practice may be part of contractor-politician arrangements in siphoning public funds.

He questioned why the agency allowed coordinate changes when projects are required under a department circular to be “shovelready” before implementation. DPWH Undersecretary Ricardo Bernabe said the agency has since prohibited the practice and is developing an application to map project coordinates for greater transparency.

Asked about the timeline for submitting validated cases to the ICI, Bisnar committed to completing assessments of 292 out of 337 projects within the first quarter, submitting results as each validation is finished.

Senators Risa Hontiveros and Rodante Marcoleta questioned why DPWH did not use coordinates from its own systems during last year’s investigations.

Editor: Jennifer A. Ng

SEC: New rules to simplify amendment of AOI, bylaws

By VG Cabuag @villygc

THE Securities and Exchange Commission (SEC) is streamlining the procedure for amending a corporation’s articles of incorporation (AOI) and bylaws.

Memorandum Circular No. 3, Series of 2026 aims to expand the number of transactions that may undergo simple processing under eAMEND, allowing applicants to submit an affidavit of undertaking in lieu of a monitoring clearance and provide for graduated penalties for late or non-submission of the documentary requirements, among others. It also seeks to further reduce processing times for amendments of the articles of incorporation and bylaws, even shorter than the corresponding processing periods prescribed by the Ease of Doing Business and Efficient Government Service Delivery Act of 2018 (EODB Act), through digitalization, standardized forms and clearer transaction classification.

“The SEC is committed to making every transaction seamless and efficient to make it easier for the public to avail of our services, and to comply with the laws, rules and regulations we implement,” SEC Chairman Francis E. Lim said.

“With the issuance of this memorandum circular, the Commission provides clear and consistent guidance on amendments in the AOI and the by-laws of companies, enabling faster transactions so companies can direct their efforts on growing their business, rather than spend time with regulatory roadblocks.”

The SEC launched eAMEND in 2024 to digitalize the acceptance, processing and approval of payment for amendment applications of cor-

porations. Applications through the portal are currently classified into two options: simple processing and regular processing.

Amendment applications that undergo simple processing are eligible to receive the digital certificate of their amended articles of incorporation upon initial system approval, while those under regular processing shall be issued only after review and approval by the SEC.

Under the guidelines, applications that will undergo simple processing through eAMEND are classified as complex transactions under the EODB Act, or those that require evaluation by the concerned government employee for the resolution of complicated issues and must be processed within seven working days.

Meanwhile, applications under regular processing are classified as highly technical transactions, or those that involve technical knowledge, specialized skills or training in the processing and/or evaluation of such transactions. The EODB Act sets the processing time of highly technical transactions to within 21 working days.

Transactions under regular processing include applications for new by-laws, amendments to by-laws involving five or more provisions and dissolution through shortening of corporate term, amendments of articles of partnership, and dissolution of partnerships.

It also covers conversion of stock corporations to non-stock corporations; one-person corporations to ordinary stock corporations, or vice versa; and corporation soles to ordinary non-stock corporations.

The guidelines expanded the list of transactions under simple processing to 28, from only four amendment applications previously.

In addition to amendments to principal office address, increase/decrease in number of directors/trustees, annual meeting and fiscal year, simple processing will now accommodate change of corporate name, primary and secondary purposes, shortening of term of existences, audit of books and dividends, provision for the undertaking to change name, and the term of office of all officers other than directors/trustees, among others.

Laguna gets ₧172M from Manila Water

By Jonathan L. Mayuga @jonlmayuga

AGUNA Water, a non-East

LZone operating unit of Manila Water providing water, used water, and environmental services across several municipalities in Laguna, has declared and remitted P172 million in dividends to its shareholders, including the provincial government of Laguna (PGL), for 2024.

Laguna Water said beyond the dividend sharing, the partnership between the company and the Laguna provincial government delivered “remarkable progress, improved water quality and pressure, reduced

system losses, enhanced customer service and billing systems, and the rollout of environmental and social programs that protect Laguna’s natural resources and uplift communities.”

Manila Water Chief Operating Officer for Non-East Zone and President of Laguna Water Melvin John M. Tan expressed gratitude to the provincial government for its continued support and partnership.

“Sharing these dividends with the provincial government of Laguna reflects the strength of our partnership and our shared vision for progress. Public-private partnerships [PPP] are a powerful way to deliver essential

services like water and sanitation efficiently and sustainably.

We are excited to continue working hand in hand with PGL and other local governments to create lasting benefits for the people of Laguna,” said Tan.

The company said this milestone reflects its commitment to sustainability and its strong partnership with the local government in enhancing the quality of life for the communities it serves. Governor Marisol Aragones expressed her appreciation for Laguna Water’s continued partnership and announced that the financial assistance will be allocated to the health sector.

“This support from Laguna Wa-

ter will go a long way in improving healthcare services for our people. We plan to use these funds to acquire advanced diagnostic equipment, such as MRI and CT scan machines, for our hospitals. This will ensure that quality medical care is accessible to every Lagunense,” said Aragones.

Laguna Water is a joint venture between PGL and Manila Water Philippine Ventures (MWPV), a subsidiary of Manila Water Co. MWPV holds 70 percent of the shares, while PGL owns 30 percent.

Established in 2009 through a PPP agreement, the company aims to provide reliable and sustainable water and sanitation services to residents and businesses in Laguna.

Shiseido faces tough turnaround after costly cosmetics stumbles

SHISEIDO Co., once a formidable challenger to L’Oréal SA, and Estée Lauder Companies Inc., is navigating its biggest challenge in decades, hurt by a costly misfire in North America and loss of market share to agile Asian rivals.

After spending $845 million six years ago to buy American brand Drunk Elephant to gain entry into a younger customer segment, the Japanese cosmetics maker has had to write off more than half of the investment on declining profits and sales.

Shiseido’s stumble shows how quickly beauty brands can lose ground as social trends, faster product cycles and Korean and Chinese rivals reshape the global cosmetics market. Amorepacific Corp., Kolmar Korea Co. and other Korean companies have outflanked Shiseido, and now comprise the biggest exporters to the United States. Seeking to regain its footing after the pandemic, the management of the 154 year-old provider of makeup, sunscreens and skincare lotions has embraced a turnaround plan that involves drastic costcutting and a refocus on its luxury brands, such as Clé de Peau Beauté.

So far, investors have been unimpressed, with Shiseido’s stock

By Lenie Lectura @llectura

ACEN Corp. is expanding its renewable energy (RE) footprint in Northern Luzon through its recently-completed 60-megawatt (MW) San Manuel Solar power project in Pangasinan.

In a statement, the power arm of Ayala Corp. said Monday that the solar project is a big push to its commitment to supporting the country’s transition to a low-carbon future.

“The project is a key pillar of ACEN’s growing portfolio in Northern Luzon, a region with strong potential to accelerate the shift to clean and sustainable energy,” it said.

San Manuel Solar forms part of ACEN’s strategic expansion following the company’s acquisition of Sinocalan Solar Power Corp. in December 2022.

With 108,752 solar panels installed, San Manuel Solar generates approximately 94 gigawatt-hours of renewable electricity annually-enough to meet the energy needs of around 55,000 households. This is equivalent to avoiding more than

stuck at just a third of its value since sales peaked in 2019, with a current market capitalization of ¥1.07 trillion ($6.8 billion).

“The Chinese players, Korean players and even the US companies aren’t sitting on the sidelines,” said Masakazu Takeda, portfolio manager at Sparx Asia Investment Advisors Ltd. “Before, it was easy. You slap the brand on the container— Shiseido, Kao Corp., etc.—and they sold well, flying off the shelves. But that’s no longer the case.” A spokesperson for Shiseido said the company is pursuing its strategic growth plan, with its latest

business update due in February when it reports full-year earnings.

Shiseido warned investors last year that it expects to post its first operating loss in decades when it reports full-year results in February, mainly due to a writedown in the value of Drunk Elephant.

The big-ticket acquisition was supposed to bolster its appeal to among younger consumers seeking out Instagram-friendly products with natural ingredients, but instead the brand soured quickly in the highly competitive skincare space. Supply chain disruptions, mar -

keting that was criticized for being too focused on teenagers, and an influx of more affordable brands that had the same “clean” ingredients caused a slide in sales, with revenue shrinking 49% for the nine months ended September.

“We can’t look to buy back or reconsider an investment anytime soon,” said Hisashi Arakawa, head of Japan equities at Aberdeen Investments who held the stock for a decade before fully exiting in March 2024.

The stumbles also underscore how little progress Shiseido has made on long-standing challenges, namely rejuvenating its brand lineup and reducing its reliance on China. High fixed costs and a lack of agility aren’t just unique to Shiseido, but rather reflect inefficiencies common among large Japanese companies with a long history.

To put itself back on track, the company is cutting costs by ¥25 billion this year by improving production-line efficiency, reining in spending on outside vendors and streamlining corporate functions.

Chief Executive Officer Kentaro Fujiwara unveiled a plan in November to grow sales by 2 percent to 5 percent annually through 2030, with a core operating profit margin of at least 10 percent. Bloomberg News

STRENGTHENING ties with the Association of Southeast Asian Nations (Asean) and leveraging technology will be central to the organization’s agenda this year, according to Donald Lim, the new president of the Management Association of the Philippines (MAP).

Lim, who is also president of Dito CME Holdings, outlined three core directions under his term: fostering unity and collaboration for collective impact, future-proofing through innovation, technology and nextgeneration leadership, and taking a more active role in national development and Asean leadership.

“I think what we’re asking each council, each sector, or the tech councils, the finance sector, economic groups, is that we can have parallel discussions also,” Lim told reporters during MAP’s inaugural meeting in Makati on Monday.

“There are so many challenges across the business sector, so I think tech will be a big prime mover and that’s why we’re trying to leverage tech, how we can get an advantage.”

The MAP chief cited the Philippines’s current challenges, such as the recent corruption scandals. He said Asean offers opportunities for the private sector to play a leadership role.

“If government is busy, I enjoin the private sector to work with us.”

“The business (sector) has no choice but to be cautiously opti-

metric tons of carbon dioxide emissions each year, contributing to national climate goals while strengthening energy security in Luzon.

The solar farm utilizes groundmounted photovoltaic panels and is directly connected to the National Grid Corporation of the Philippines (NGCP) via a dedicated 1.8-kilometer transmission line linked to the 69-kilovolt San Manuel Substation, ensuring efficient and reliable delivery of renewable energy to the grid. San Manuel Solar is part of ACEN’s expanding renewables portfolio in the Philippines and underscores the company’s support for the government’s target of 35 percent renewable energy in the country’s power generation mix by 2030. As ACEN continues to scale its clean energy investments across Northern Luzon and beyond, the company said it remains focused on enabling “a just, inclusive, and sustainable energy transition for the Philippines.”

The project is ACEN’s first development in Pangasinan, which required an investment of P2.8 billion.

mistic always. When we lead organizations, we need to believe in a better future. If not, we might as well shut down.”

However, the Philippines fell to 64th place out of 67 economies in the 2025 IMD World Talent Ranking, its lowest position since 2021, weighed down by weak investment in local talent development and persistent gaps in skills and competencies.

IMD data showed the country ranked 57th in 2021 and improved to 54th in 2022, before declining in the succeeding years and reaching its lowest standing this year.

Ease of doing business also remains a top concern for MAP this year, the association said, noting ongoing coordination with the AntiRed Tape Authority (Arta) to address regulatory hurdles.

Lim also acknowledged the private sector’s issues with the Bureau of Internal Revenue, which the group said its leaders are monitoring.

“For us, we’re more focused on how do we push our economy forward. How do we make sure that we prepare our next business, our next leaders to govern properly?” He added that while MAP has not yet outlined specific policy reforms for the year, the organization intends to work with the government to expedite measures that have been pending for some time. Bless Aubrey Ogerio

Banking&Finance

Govt races to fund CARS incentive program

By Reine Juvierre Alberto @reine_alberto &

Bless Aubrey Ogerio | Reporters

THE Marcos administration eyes whatever cash it saved from the 2025 budget to settle obligations after the President vetoed a budget item for the Comprehensive Automotive Resurgence Strategy (CARS) program in this year’s spending plan.

This was contained in a joint statement issued by the Department of Budget and Management (DBM), Department of Finance (DOF) and the Department of Trade and Industry (DTI).

Speaking to reporters last Monday, Trade Secretary Cristina A. Roque said the release of incentives under the CARS program is now being resolved since the continuity of fiscal support is critical in maintaining investor confidence in the Philippines’ automotive manufacturing sector.

Discussions on the Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE)

program are also ongoing, Roque added.

“If investors know that the incentives are really being given to them, and that the incentives are that substantial, then of course they would want to invest in the Philippines,” Roque told reporters on the sidelines of the Management Association of the Philippines’s inaugural meeting in Makati City on January 19. The Trade chief said the full P4.3billion worth of incentives under the CARS program remains intact, although she declined to specify the exact funding source. What is important, she added, is that the incentives are eventually released to qualified

participants.

Roque also pointed to continued expansion by automotive and manufacturing firms in the country, citing recent capacity increases by Japanese firm MinebeaMitsumi Inc. as an indication that investor interest in the sector has been sustained.

On the proposed RACE program, Roque said the initiative has not been abandoned and remains under discussion, with the DTI and the Board of Investments (BOI) still working on its implementation framework.

“Yes, it’s not scrapped. We’re working on it at this moment. Once we get a clear direction, we will inform you,” she said.

Under earlier budget proposals, the CARS program was set to receive P4.32 billion in fiscal support arrearages, while the RACE program was allocated P250 million through an unprogrammed appropriations provision in the proposed 2026 General Appropriations Act (GAA).

Mitsubishi Motors Philippines Corp. and Toyota Motor Philippines Corp. (TMP) are beneficiaries of both programs.

The joint statement of the DTI, DOF and the DBM last Monday noted that any remaining claims under the CARS program may be proposed for funding in the 2027 national budget.

The officials of these departments assured that the government

The pain of paying and why we overspend

HAVE you ever noticed how spending feels different depending on how you pay?

Buying something with cash feels heavier. Tapping your card feels nothing. Checking out online feels almost weightless. And before you know it, you’re wondering why the bill is higher than expected.

There’s a reason this happens. Researchers call it the “pain of paying”—the uncomfortable feeling we get when money leaves our hands. It affects how much we spend, how often we buy, and how easily we lose control of our budget.

Understanding this simple idea explains a lot about our habits. It also shows how small changes in the way we pay can help us avoid overspending.

Why cash feels more painful to spend

PAYING with cash creates a physical and emotional moment. You see the bills leave your wallet. You feel the loss as you hand the money over. It’s tangible. You can’t ignore it. This moment of discomfort acts as a natural brake. It makes you think twice.

“Do I really want this?” “Is it worth it?” Because the pain feels immediate, your decisions become more conscious.

This is one reason older generations, who paid in cash most of their lives, tend to be more cautious spenders. The friction slows you down.

Why cards and e-wallets make spending easier

NOW compare that to tapping a card, scanning a QR code, or checking out online. There is almost no friction at all. You don’t see physical money leaving. You don’t feel the loss. You complete a purchase in seconds, and the emotional impact shows up only later, usually when the bill arrives.

Digital payments are convenient.

But convenience comes with a cost.

They reduce the pain of paying, which means people spend more without noticing. And it’s not because we’re careless. It’s because the brain is wired to respond differently depending on how visible the loss feels.

Why we overspend without realizing It

OVERSPENDING rarely happens in big decisions. It shows up in the small, frequent purchases we don’t track:

n In-app food delivery

n Subscription renewals

n “Add to cart” to relieve stress

n Coffee runs

n Delivery fees and service charges

Each one feels harmless. Each one barely registers. But combined, they quietly drain your budget.

The lower the pain of paying, the easier it is to justify the purchase. That’s why online shopping carts often feel lighter than handing over even one P500 bill.

The psychology behind it

HERE are the mental habits at play when we spend:

1. Immediate reward vs. delayed consequence

The enjoyment of a purchase is now. The financial impact comes later. Our brains are wired to prioritize immediate comfort.

2. Emotional spending

We shop when stressed, tired, lonely, or bored. Digital platforms make it easy to act on these impulses with one tap.

3. Mental shortcuts

We often tell ourselves: “It’s just P199.” “It’s on sale.” “I deserve this.” These small justifications accumulate silently.

4. Detachment from real money

The more digital our payments become, the more disconnected we feel from our actual financial limits.

Once you understand these patterns, you can design habits that

can pay its dues to participating car manufacturers, including Toyota and Mitsubishi, and eligible auto-parts makers, based on the tax payment certificates (TPCs) already issued and validated.

The payments will come from available 2025 budget savings, subject to approval of the Office of the President and compliance with all applicable fiscal and legal requirements.

The TPC is a non-transferrable certificate, which shall be used to defray the tax and duty obligations of the Philippine car manufacturer to the government.

Validated claims that have yet to receive TPCs and are not covered by the current budget may be considered for inclusion in the proposed 2027 National Expenditure Program (NEP).

If incorporated, they will be subjected to cash programming to guarantee orderly, continuous and fiscally responsible settlement that is in line with available fiscal space.

This approach, the agencies said, shows a “careful balance” between supporting the auto industry, “upholding due process” and ensuring “responsible stewardship” of public funds.

“The government’s position is clear: we will not abandon the auto industry. Obligations supported by issued and validated TPCs will be

protect you from overspending without depriving yourself.

How to use the pain of paying to your advantage YOU don’t have to stop using cards or e-wallets. But you can introduce just enough friction to help you stay aware and in control.

1. Use cash for categories where you tend to overspend

Groceries, food delivery, and leisure spending often run higher than expected. Switching to cash for these categories makes you more mindful.

2. Delay checkout by 24 hours

This small pause restores awareness. If the urge to buy fades, it wasn’t a need.

3. Remove saved cards from online shopping apps

Typing in your card number creates friction. That tiny inconvenience helps you rethink impulse buys.

4. Turn off notifications for sales

Many purchases happen not because we need something, but because an alert told us to “check this deal.”

5. Track your digital spending weekly

Seeing the numbers in one list brings back awareness. It reconnects the decision with the consequence.

6. Set a personal spending cap

Even something simple like “P1,000 per week” for discretionary spending creates structure.

7. Delete apps temporarily during high-risk seasons

The holidays, bonus week, or stressful months can trigger overspending. A short break from apps creates space to think clearly.

Overspending is not a character flaw. It is a human tendency shaped by how our brains respond to money. When spending becomes too easy, we lose sight of our limits. When payments feel invisible, budgets fall apart.

But the reverse is also true. When you bring awareness back into your decisions, you spend more intentionally. You protect your goals. You reduce financial stress.

The goal is not to feel guilty about spending. The goal is to understand your habits so you can guide them instead of being surprised by them.

of

Janice Sabitsana is a

paid in a legal, orderly, and responsible manner, consistent with our fiscal space and established budgetary rules,” Budget Secretary Rolando U. Toledo was quoted as saying in the statement.

Toledo said that fund releases must be anchored on clear legal bases, proper timing and sound fiscal direction to maintain the confidence of the private and public sectors.

Industry groups welcomed the clarification. For their part, the Chamber of Automotive Manufacturers of the Philippines Inc. said the announcement provided a funding pathway for CARS incentives and restored confidence in the country’s industrial policy.

“This gives renewed confidence in our industrial policy and puts the automotive sector back on track for long-term investment planning,” CAMPI said, adding that it looks forward to the implementation of the RACE program as part of the industry’s recovery and growth.

On the other hand, TMP also welcomed the government’s assurance, saying the clarification reaffirmed its commitment to honor obligations under the CARS program and strengthened investor confidence in the Philippines as a manufacturing base.

“TMP sincerely appreciates the government’s decisive action to reassure investors and stakeholders

who have long supported the Philippine automotive manufacturing industry,” TMP said in a statement.

The DTI continues to validate TPCs to ensure that all claims are correct, complete and compliant with the program guidelines before any funds are released.

“We will ensure that the government maintains a clear and responsible course in settling obligations and supporting the auto industry, always in accordance with the law and the capacity of public funds,” Toledo added. A promise echoed by Finance Secretary Frederick D. Go. Go vowed he “will ensure that legitimate obligations are paid—consistent with the law and within the capacity of public funds.”

“Our message to the auto industry is clear: do not worry—you remain part of the government’s long-term plan for industrial development, jobs creation, and economic growth,” the Finance chief added.

Marcos vetoed the unprogrammed appropriations for CARS and the RACE programs of the DTI in the 2026 General Appropriations Act (GAA).

Prior to the veto, CARS was supposed to get a P4.32-billion Fiscal Support Arrearages, while for RACE it was at P250 million from the government through the UA provision of the 2026 GAA.

Demand pushes investors’ asking yields lower

THE national government successfully raised its full planned borrowing from the sale of short-term debt securities, even upsizing awarded amount, as strong demand pushed investors’ asking yields lower.

The Bureau of the Treasury’s (BTr) auction committee generated last Monday a total of P37.8 billion, P10.8-billion more than its P27-billion program, via Treasury bills (T-bills).

The Treasury raised P12.6 billion each from the 91-day, 182-day and 365-day T-bills, higher than the P9 billion planned for each tenor.

The auction committee was met with strong demand as combined tenders for three tenors reached P126.590 billion.

As the auction became 4.7-times oversubscribed from the original offering, the auction committee doubled the accepted non-competitive bids to P7.2 billion for each tenor.

Rates of all three tenors were lower than those recorded during the previous auction and at the secondary market.

Michael L. Ricafort, chief economist at the Rizal Commercial Banking Corp. (RCBC), linked the decline in T-bill yields to dovish signals from Bangko Sentral ng Pilipinas (BSP) Governor Eli M.

Remolona Jr. Remolona earlier indicated a possible 25-basis-point rate cut in February.

The large banks’ reserve requirement ratio could also be reduced to about 2 percent within the year, on top of another 25-basis point rate cut this year if economic recovery takes longer than expected, Ricafort added.

“These could further reduce borrowing costs, help spur greater demand for loans/credit and investments that, in turn, could help lead to faster economic growth,” the RCBC executive added.

However, global risks, including United States monetary policy, a stronger US dollar and uncertainties over US Federal Reserve leadership, pose constraints on further local policy rate cuts and may lead to some pick up in overall inflation, Ricafort added.

T-bill yields

THE average rate for the 91-day Tbills settled at 4.723 percent with a range of 4.680 percent to 4.743 percent. This is slightly lower by 0.8 basis points from the previous auction’s 4.731 percent average yield.  Bids for the tenor amounted to P35.650 billion, 3.9 times oversubscribed the P9 billion initially offered.

The 182-day T-bills saw their yield

average at 4.817 percent, down by 3.3 basis points from the 4.850 percent posted last week. The government security rates were between 4.8 percent and 4.835 percent. The tenor received the most bids with a total offer of P45.850 billion, or five times the P9-billion offer.

Meanwhile, investors’ average rate for the 365-day T-bills was at 4.888 percent with a yield range of 4.875 percent to 4.893 percent. The 365-day T-bills fetched a total offer of P45.090 billion, also five times oversubscribed, from investors. The Treasury targets to raise as much as P268 billion in January from the combined tender of T-bills and Treasury bonds. The national government has set its borrowing plan this year at P2.682 trillion, some P82 billion more than last year’s P2.6 trillion gross borrowing plan, based on state budget documents. This year’s borrowing program will follow a 77:23 mix in favor of domestic sources. About P2.054 trillion will be borrowed from domestic lenders, while P627.104 billion will come from foreign creditors.

The outstanding debt of the nat ional government reached a new record high of P17.647 trillion as of end-November 2025.

DOF eyes risk financing at Asean+3 gab

THE Philippines, through the Department of Finance (DOF), is pushing for the urgent need to advance disaster risk financing as climate risks mount, as the DOF begins its cochairmanship of the Asean+3 Finance Process this year.

The DOF stressed the need to strengthen the Disaster Risk Financing Initiative (DRFI) in response to climate-related events and their growing fiscal and macroeconomic impact.

Given the DRFI’s role as a tool for fiscal resilience and macroeconomic stability beyond traditional insurance, its next phase, as well as the proposed 2026–2028 Roadmap were discussed by member economies.

The DOF-backed Sovereign Asset and Fiscal Empowerment (Safe) Facility, which safeguards public infrastructure by incorporating disaster insurance into

development projects, lowering fiscal exposure and boosting climate resilience, has also made headway.

Moreover, the DOF headed the discussions on the continuation of the Asean+3 Fiscal Exchange—a platform led by the Philippines and Japan that allows finance ministries to exchange best practices on common fiscal concerns.

“This First Task Force Meeting under the Philippines’s Asean+3 co-chairmanship with Japan sets the tone for the year and establishes a clear agenda for delivering results,” Assistant Finance Secretary Donalyn U. Minimo, who co-chaired and led the DOF delegation, said.  Minimo urged all members to engage in key initiatives, such as the operationalization of the Chiang Mai Initiative, strengthening collaboration with Asean+3

Macroeconomic Research Office, advancing the development of regional bond markets and enhancing the DRFI.

The Asean+3 Finance Process serves as a platform for member countries to tackle financial and macroeconomic developments and address regional risks and challenges.

The DOF, Bangko Sentral ng Pilipinas, Japan Ministry of Finance and Bank of Japan co-chaired the first Task Force Meeting, which took place from January 13 to January 14. It convened representatives from Asean+3 economies, who shared technical knowledge, aligned regional priorities and decided on concrete actions to improve policy coordination, boost financial resilience and address evolving macro-financial challenges. Reine Juvierre S. Alberto

Art

‘Culture should be open to everyone’

Louvre price hike sparks debate on ‘dual pricing’

THE Musée du Louvre in Paris made new rounds of headlines last week, as one of the world’s most visited museums almost doubled the price of its admission tickets for non-European visitors. The move ignited pointed conversations about dual pricing, and comes at a tumultuous time for the institution, which is still reeling from October’s $100-million French Crown Jewels heist in broad daylight.

Starting Thursday last week, adult visitors from outside the European Union, Iceland, Liechtenstein and Norway were charged €32 (P2,200) to enter the Louvre, a 45-percent increase. Among those affected are Americans, UK citizens and Chinese nationals who are some of the museum’s most numerous foreign visitors, as well tourists from poorer countries.

“We didn’t cause the robbery, or some of the issues that have happened, but we’re the ones that are going to pay the consequences,” said Canadian tourist Allison Moore in a video report by The Associated Press. In an accompanying story, Laurent Vallet, visiting Paris from Burgundy, added that “culture should be open to everyone.”

“Yes,” he emphasized, “at the same price.”

The steep price increase follows a national “differentiated pricing” policy announced early last year, which has since been rolled out across France’s major cultural institutions, including Versailles Palace and the Opera. However, the French move has few precedents elsewhere in Europe, and is more common in developing countries, where tariffs at sites such as Machu Picchu in Peru or the Taj Mahal

in India vary. Regardless, Louvre officials believe the added cost won’t discourage visits to one of the world’s most famous museums, counting on more than $23 million in added revenue.

Meanwhile, trade unions at the museum think otherwise. They have denounced the policy as “shocking philosophically, socially and on a human level,” calling for yet another strike action over the change, along with a raft of other complaints. According to them, the museum’s vast collection of 500,000 items, including many from Egypt, the Middle East and Africa, hold universal human value. They also raised concerns on the practical side of the matter, wherein staff will now need to visitors’ identity papers and charge prices accordingly.

Louvre’s last price hike was in January 2024, when the standard entry fee rose from 17 euros to 22 euros.

Louvre is regarded not just as an art museum, but a monumental record of human history spanning nearly nine millenniums. It was originally built as a medieval fortress in the late 12th century, made into a lavish residence for French kings, and was made into a public museum during the French Revolution in 1793. Today, it is mostly associated with its iconic Glass Pyramid entrance, designed by acclaimed architect I.M. Pei which was added in 1989.

The Louvre presents approximately 35,000 works on display at any given time, including paintings like Mona Lisa, sculptures, like Venus de Milo, and antiquities like The Code of Hammurabi (Babylonian law code). Aside from the main museum in Paris, the Louvre has expanded globally and regionally, opening Louvre Lens, also in France, in 2012; Louvre Abu Dhabi; and Musée National Eugène-Delacroix.

‘SINULID’ 10TH ANNIVERSARY: STYLE INNOVATION, CULTURAL CONSCIOUSNESS, AND PERSONAL NARRATIVES

FOR the one-decade anniversary of Sinulid, 91 fashion visionaries are set to transform the runway into a platform for dialogue, disruption, and design evolution as they weave style innovation, cultural consciousness, and personal narratives in their debut collections.

Sinulid, the highly successful annual culminating event which showcases the knowledge, craftsmanship, and skills of the graduating Fashion Design and Merchandising (FDM) students of the De La Salle-College of Saint Benilde (DLS-CSB), hails not only 10 years of creative excellence, but also the 30th anniversary of the FDM program.

Themed Awanggan, derived from the words awan (zero) and hanggan (limit), it is an archaic

Tagalog term which means limitless. Once used in the context of science and mathematics, it now finds new meaning in design as a framework for boundless alternate futures through the lens of fashion.

This year’s edition is a tribute to the past, a celebration of the present, and a powerful glimpse into the future. With over 270 looks, this batch promises a more daring collection—a revelry on the power of the body and its tools. Each designer explores their personal relationship with the body both as a subject and medium—how it occupies, challenges, or redefines identity, space, and time.

The showcase is divided into three acts—“Takipsilim,” “Hating Gabi,” and “Bukang Liwayway.” It presents

a diverse range of ensembles, from ready-to-wear to contemporary and the avant-garde.

A culmination of years of rigorous training in design and business strategy, each piece depicts how the next generation of visionary artists pushes creative boundaries and thrives in the evolving global fashion industry.

Sinulid: Awanggan will reveal the collections in a runway show at the PNB Financial Center Banking Hall along Diosdado Macapagal Boulevard in Pasay City on January 31, 2026, 6 pm. Over 90 meticulously handpicked creations will likewise grace a digital exhibition, which is set to premiere a day after. More information can be found at sinulid.benilde on Instagram.

new possibilities and to incorporate what you enjoy most into your routine. ★★★

LIBRA (Sept. 23-Oct. 22): Don’t let anger set in when action is required. Call on your emotions and intuition to lead the way, and surround yourself with people who make you think and inspire you to follow your creative dreams. Refuse to overload your roster with people and activities that drain you rather than give you purpose. ★★★★★

SCORPIO (Oct. 23-Nov. 21): Tie up loose ends, and prepare to move on. Venture out into your community, and you’ll discover all sorts of opportunities to better and more efficiently use your skills and experience. You are overdue for a change. Joining forces with someone who shares your beliefs and direction will help you build momentum. ★★

SAGITTARIUS (Nov. 22-Dec. 21): Don’t overlook what’s obvious. Ignoring what you must do will slow you down, not help you excel. Deal with issues head-on so you can move forward freely. It’s time to use your imagination and intuitive insight to build a sound platform for testing what works best for you. ★★★★

CAPRICORN (Dec. 22-Jan. 19): Put more energy behind your ideas, and see what happens. Turn an opportunity into additional income or cut your overhead. Get rid of what you don’t use, or refocus your goals to suit your needs. Life is about choices and aligning yourself with what works best for you. Be practical, and choose a minimalist approach moving forward.

AQUARIUS (Jan. 20-Feb. 18): Start home improvement projects that are conducive to the lifestyle you want to live. Use your space to pursue projects that support better health or

Hiraya Music & Hot Air Balloon Festival is a huge success

ACTOR TIMOTHY BUSFIELD’S ATTORNEYS SAY AN INVESTIGATION UNDERMINES STATE’S CHILD SEX ABUSE CHARGES

ALBUQUERQUE, New Mexico—Emmy Award-winning actor Timothy Busfield’s attorneys told a court on Friday he should be released while he awaits the outcome of child sex abuse charges against him because an independent investigation undermined the state’s allegations, the parents of his accusers have a history of fraud and dishonesty, and he passed a polygraph test.

Busfield was ordered held without bond at his first court appearance on Wednesday, a day after he turned himself in to face charges stemming from allegations that he inappropriately touched a minor on the set of a TV series he was directing in New Mexico.

A judge will hold a detention hearing on Tuesday to determine whether Busfield will remain in jail. Albuquerque police issued a warrant for his arrest last week on two counts of criminal sexual contact of a minor and one count of child abuse. A criminal complaint alleges the acts occurred on the set of the series The Cleaning Lady, which was filmed in the city.

In a video shared before turning himself in, Busfield called the allegations lies. Busfield, who is married to actor Melissa Gilbert, is known for appearances in The West Wing, Field of Dreams and Thirtysomething

According to the criminal complaint, an investigator with the police department says the child reported Busfield touched him on private areas over his clothing on one occasion when he was 7 years old and another time when he was 8. The boy’s twin brother told authorities he was also touched by Busfield, but did not specify where. He said he didn’t say anything because he didn’t want to get in trouble. Busfield’s attorneys said in court filings that the allegations against him emerged only after the boys lost their role in the TV show, creating a financial and retaliatory motive. The filings detailed what the attorneys said was a history of fraud by both the father and mother. They cited an investigation by Warner Bros. into the allegations, which they said prosecutors didn’t include in their criminal complaint, found the allegations unfounded. Independent witnesses supported the report’s conclusions, the court filings said.

Busfield also submitted letters vouching for his character. His passing of the polygraph test aligns with the other information submitted, his attorneys said.

Legal experts say New Mexico is among a few states that allow polygraph evidence in criminal cases, but a judge has final say over whether one can be used. There are strict requirements for admission. AP

THE open grounds of Clark Global City lit up more than brightly over the weekend as the many well-thought of and smoothlyplanned activities wowed and mesmerized the huge crowd at the first-ever Hiraya Music & Hot Air Ballon Festival.

People started to come in droves early in the morning as the festival opened its gates. Highlights of the two-day festival included the breathtaking hot air balloon rides that can match those in Cappadocia, Turkey; the exciting paramotor flights which are basically dubbed as powered paragliding; and the adrenaline-pumping car drifting exhibitions.

The car enthusiasts also came in full force and made sure they caught the motorsports exhibition, and the swelling crowd stayed until nighttime to witness a spectacular drone light show and an amazing fireworks display that illuminated the Pampanga night sky.

Project manager Marvin Atienza was grinning from ear to ear as the activities all went on without a glitch. “This is a first for us and we are simply grateful for the turnout of attendees and the general support of our parters and the general public. The Hiraya Festival celebrates the innate passion, unique creativity, exemplary talent and relentless resilience of the Filipino in many diverse means and ways. There was something for everyone and we are very happy that after this, we will start to brainstorm on other events for the year.”

Music was also a major factor why the festival was a huge success. After participating in the many activities lined-up for the day, the patrons of the festival trooped to the concert grounds and had an absolutely electrifying experience with popular artists like Amiel Sol, Erl Agustin, Sun-Kissed Lola, Flow G, the Quatro band, Juan Karlos, Carl Timbol, Kim Leo, Bandang Lapis, Rob Deniel, Dionela and IV

of Spades. Producer Russel Di shared that the organziers were more than overjoyed with the gathering of these Filipino musical artists. “More than the turnout that we got, we were just floored by the immense artistry of the Filipino, and we look forward to many more festivals like this in the future to showcase what the Filipino can do, put together and achieve. We are more than overwhelmed and we are truly grateful because, admittedly, the first is always the most challenging to produce and we were able to have this grand kick-off with Hiraya here in Clark that hopefully will inspire us as we prepare for the next big ones.”

Of course, the food kiosks were a big hit in the

festival’s well-curated food section. Kapampangan cuisine is one of the most popular and is known for its richness and flavor that is evident in many of its savory stews, meaty dishes and delicious delicacies that more than warmed the hearts and tummies of the attendees. There were also many other food and drink choices that made the festival more memorable. Hiraya is an ancient Filipino word that means dreams, hope and aspirations, and if combined with Manawari, it becomes a greeting that means “May your wishes come true.” For the organizers who hurdled all the challenges to mount this first-ever two-day event in Clark, it is a wish that came true, and it was truly a celebratory feast for the senses and for all the happy human hormones and emotions.

Julio Iglesias accused of sexual assault in Caribbean as Spanish prosecutors study the allegations

BARCELONA, Spain—Spanish prosecutors are studying allegations that Grammy-winning singer Julio Iglesias sexually assaulted two former employees at his residences in the Dominican Republic and the Bahamas.

The Spanish prosecutors’ office told The Associated Press on Wednesday that the allegations were related to media reports from earlier this week that alleged Iglesias had sexually and physically assaulted two women who worked in his Caribbean residences between January and October 2021.

Iglesias has yet to speak publicly regarding the allegations. Russell L. King, a Miami-based entertainment lawyer who lists Iglesias as a client on his website, didn’t immediately respond to a request for comment by the AP. The Spanish prosecutors’ office that handles cases for Spain’s National Court said that it had received formal allegations against Iglesias by an unnamed party on January 5. Iglesias

could potentially be taken in front of the Madrid-based court, which can try alleged crimes by Spanish citizens while they are abroad, according to the court’s press office.

Women’s Link Worldwide, a nongovernmental organization, said in a statement that it was representing the two women who had presented the complaint to the Spanish court. The group said that the women were accusing Iglesias of “crimes against sexual freedom and indemnity such as sexual harassment” and of “human trafficking for the purpose of forced labor and servitude.”

The organization said the women in their testimony also accused Iglesias of regularly checking their cellphones, of prohibiting them from leaving the house where they worked and demanding that they work up to 16 hours a day, with no contract or days off.

The organization said it did not reach out to authorities in the Bahamas or the Dominican Republic, and that it didn’t know whether authorities in those

Caribbean nations have initiated an investigation.

Gema Fernández, senior attorney at Women’s Link Worldwide, said in an online press conference Wednesday that “Spanish legislation regarding sexual violence, gender-based violence and trafficking could be an interesting option” for the two women making the allegations against Iglesias.

“Listening to what [the two women] are seeking and their definitions of justice, it seems to us that filing a complaint with the Public Prosecutor’s Office of the National Court of Spain was the path that best suited their definition of justice. That is why we are supporting them along this path,” Fernández said.

Jovana Ríos Cisneros, executive director of Women’s Link Worldwide, asserted that Spanish prosecutors have decided to take statements from the two women and granted them the status of protected witnesses.

“Being heard by the Prosecutor’s Office is a very important step in the search for

justice,” she said.

Fernández said prosecutors have not set a date to take statements from the women and noted that prosecutors have up to six months to determine whether the information they receive warrants a criminal prosecution. Those six months could exceptionally be extended to a year, she added.

The Prosecutor’s Office did not immediately return a message seeking comment.

Spanish online newspaper elDiario. es and Spanish-language television channel Univision Noticias published the joint investigation into Iglesias’ alleged misconduct.

Ríos said the two women initially contacted elDiario.es, which began investigating the allegations but also advised the women to seek legal help.

Spanish government spokeswoman Elma Saiz said that the media reports regarding Iglesias “demanded respect.”

“Once again I can reaffirm this government’s firm and complete

Light up Visayas with festive celebrations for Sinulog, Dinagyang 2026

TOP lifestyle destination Robinsons Malls brings the spirit of the Visayas’ grandest festivals to life as it rolls out vibrant mall celebrations for Sinulog and Dinagyang 2026, transforming its Cebu and Iloilo malls into dynamic hubs of culture, color, and festive energy this January.

In Iloilo, Robinsons Malls joins the grandeur of Dinagyang Festival 2026, taking part in the ILOmiNATION Floats Parade of Lights on January 23 as Robinsons Iloilo Malls lights up the streets in celebration of Ilonggo pride and creativity. At Robinsons Jaro, Dinagyang comes alive throughout January with the third-year return of Dinagyang Village at Level 3. Festivities opened with the Miss Iloilo Portrait Exhibit and Candidate

Presentation on January 9, followed by an extended exhibit at Level 2 ongoing until January 30. Family-friendly activities add to the excitement, including the first Dinagyang Pets-tival on January 11, featuring a pet fashion show, free rabies vaccinations, and consultations, while the Dinagyang Foodfest is ongoing until January 25. Robinsons Iloilo keeps the festival spirit in full swing with a lineup of events, including the GMA Kapuso Mall Show on January 24. Food lovers can look forward to the Juanica and John Marketing Dinagyang Food Festival from January 19 to 25, capped by an interactive Dinagyang booth by Gcash on January 25. Meanwhile, Robinsons Pavia joins the celebration

with its own Dinagyang Pets-tival on January 23 and the Rkids Dinagyang Fun Fair on January 24.

Rounding out the festivities, shoppers can enjoy festival-exclusive experiences across Iloilo malls, including the chance to “Smile with an ATI” as guests pose with the iconic Dinagyang Ati at Robinsons Jaro and Robinsons Iloilo on select dates

The celebration continues with Tourist Treats, offering free Movieworld Cards to shoppers and diners at Robinsons Jaro and Robinsons Iloilo from January 23 to 25, alongside free Dinagyang-themed face art at Robinsons Jaro, Robinsons Iloilo, and Robinsons Pavia on designated festival dates.

More information can be found at www. robinsonsmalls.com

commitment to take on any act of violence, harassment or aggression against women,” Saiz said Tuesday after the media reports were published.

Panky Corcino, spokesman for the Attorney General’s Office in the Dominican Republic, declined to comment, saying he couldn’t confirm or deny an investigation. By law, any case in the Caribbean country that involves sexual aggression or violence must be investigated by prosecutors, even if no one has filed a complaint.

Spain’s culture minister said on Wednesday that its left-wing government, which holds women’s rights and equality among its priorities, will also consider stripping Iglesias of the state’s Gold Medal of Merit in the Fine Arts that he was awarded in 2010.

“It is something we are studying and evaluating, because evidently we feel obliged to do so when faced by such a serious case,” Culture Minister Ernest Urtasun said. AP

Valenzuela ECMP community gets over P14M housing boost from DHSUD, SHFC

The Social Housing Finance Corporation (SHFC), together with the Department of Human Settlements and Urban Development (DHSUD), kicked off the new year by granting housing assistance worth over P14 million to the Wawang Pulo Homeowners’ Association, Inc. Phase 1 in Valenzuela City.

This underscores the agency’s strengthened commitment to President Ferdinand Marcos, Jr.’s Expanded Pambansang Pabahay para sa Pilipino (4PH) Program through SHFC’s Enhanced Community Mortgage Program (ECMP).

DHSUD Secretary Jose Ramon Aliling and SHFC President and CEO Federico Laxa, along with Valenzuela Mayor Wes Gatchalian, led the check awarding ceremony held in Barangay Wawang Pulo on January 9, 2026. The issued checks cover the payment to the landowner for land acquisition, as well as grant to cover the expenses for the processing of documentary stamp tax on mortgage.

Aliling emphasized that the release of checks reflects the government’s continued focus on housing security. “As we start the year, we remain committed to ensuring

that every Filipino family has access to safe, secure, and affordable housing,” he said.

“Through programs like the ECMP, we are not only providing land ownership but also strengthening communities and improving their living conditions.”

Gatchalian likewise expressed the local government’s full support for housing initiatives that directly benefit communities.

“The City of Valenzuela strongly supports housing programs like the ECMP that empower our residents through secure land tenure,” he said, noting that the initiative is a clear sign of progress for the city’s communities.

Meanwhile, Laxa reaffirmed SHFC’s commitment to sustaining the program since its launch in July 2025. “We will continue helping Filipino families acquire the land where their homes stand, paving the way for a more secure and dignified future,” he said.

Remitly, Coins.ph Leverage Stablecoin Technology to Transform Cross-Border Payments to the Philippines

RPresident William Asuncion,

expressed gratitude to DHSUD and SHFC for the continued support and commitment to the association, saying that the assistance fulfills the community’s over two decades of waiting to finally realize their dream of owning the land they call home.

Wawang Pulo HOAI Phase 1 is composed of 242 member-beneficiaries and forms part of the initially approved 36 ECMP projects, which aim to provide security of tenure to over 6,200 families across the country.

To date, three other communities— Centennial Sunrise HOA, Megaville 2 HOA, and Villa Soledad in Pasig City—have already received checks for land acquisition and documentary stamp taxes under the program. Headquartered in Makati, SHFC is a Key Shelter Agency under the DHSUD led by Secretary Jose Ramon Aliling.

Ticketnet to feature Google Wallet integration with the launch of the service in the Philippines

tickets as smooth as a breeze. Ticket buyers will start to find an “Add to Google Wallet” button when accessing their mobile ticket. With a single tap, eventgoers will be able to store their event or cinema tickets directly

in Google Wallet, giving them fast, secure, and seamless access on the day of the show.

For Ticketnet, this cements its commitment to convenience and reliability. The integration taps directly into Google Wallet’s APIs, allowing digital tickets to live in the same space where users keep their payment cards, IDs, and passes.

“We’ve always believed in the power of technology to elevate our entertainment and sporting experiences. This is yet another proof that underscores our commitment to our customers,” Jose added.

Ticketnet was among the launch partners of Google Wallet as it rolled out in the country last November. The launch was attended by officials of Uniprom including Karen Nicasio, Ticketnet General Manager, and Marco Dimaculangan, Ticketnet Systems Administrations Manager.

The move also aligns with the broader direction of entertainment venues and ticketing platforms worldwide, where digital wallets are becoming a standard companion for fans heading to concerts, games, and movies.

“We are excited for you to try out this integration with Google Wallet. We know that this will simplify and change how you purchase and use your tickets and we’re excited to bring you more technological solutions to elevate these types of everyday experiences,” Jose concluded.

To get your tickets, you may visit any Ticketnet outlet around the country or visit their website at www. ticketnet.com.ph.

Hongqi AWD Flagship EVs Deliver Strong Real-World Efficiency in DOE Eco Run

sedan produce 610 hp (455 kW) and 756 Nm of torque, while the larger EHS9 Flagship AWD full size SUV delivers 544 hp (405 kW) and 750 Nm of torque. These figures highlight Hongqi’s ability to balance powerful dual-motor AWD performance with efficient energy consumption.

Although Hongqi’s RWD variants did not participate in the DOE Eco Run, Hongqi Philippines shared their manufacturer-tested city-driving efficiency results. The

to performance and efficiency.

EHS7 Executive SUV recorded an impressive 61.4 km/Lge, while the EH7 Executive sedan achieved an even higher 63.5 km/Lge. These RWD variants produce 339 hp (253 kW) and 450 Nm of torque, demonstrating that even with a single motor drivetrain, they deliver both strong performance and high energy efficiency. These figures underscore Hongqi’s emphasis on efficiency across its EV lineup, regardless of drivetrain configuration.

“The DOE Eco Run results reaffirm Hongqi’s commitment to delivering electric vehicles that combine exceptional performance with real-world efficiency,” said Rashid Delgado, President of Hongqi Philippines. “Hongqi’s BEVs demonstrate that high performance and efficiency can go hand in hand. From our dual-motor AWD models to single-motor RWD vehicles, each achieves strong power and notable energy efficiency, reflecting our commitment to engineering excellence and a refined driving experience across the entire lineup.”

With a diverse BEV lineup that ranges from performance-focused AWD trims to highly efficient singlemotor variants, Hongqi Philippines offers electric vehicles that cater to varying customer needs, whether prioritizing power, efficiency, luxury, or a balance of all three.

Those interested in experiencing Hongqi’s electric vehicles firsthand are encouraged to visit the brand’s showrooms in BGC, Alabang, Manila Bay, and Quezon City.

More information on Hongqi’s lineup and latest updates is available at www.hongqi.ph, as well as on Hongqi Philippines’ official Facebook page (hongqi.philippines) and Instagram account (@hongqi_ph).

EMITLY , a trusted provider of digital financial services that transcend borders and the Philippines’ leading licensed crypto exchange, Coins.ph, has announced a strategic collaboration to launch a stablecoin-powered remittance solution for near-instant, low-cost money transfers between key global markets and the Philippines.

Remitly and Coins.ph’s collaboration directly taps into the accelerating trend of global stablecoin adoption, which is seeing digital assets move from niche technology to essential financial infrastructure.

The new rail allows Remitly, which has a global network that spans over 170 countries and serves an estimated 8.9 million quarterly active users, to process funds from all Remitly send countries directly through Coins.ph’s regulated local infrastructure. At present, there are an estimated four million overseas Filipino workers in the US and Canada, and the two countries jointly account for 45 percent of the total remittances back to the Philippines.  The solution utilizes a stablecoin

Global Pet Nutrition

rail for funds transfer, converting the sent fiat (either in US$ or CAD$) into stablecoins. This enables near-real-time settlement and minimal latency, ensuring recipients receive peso funds quickly and directly into their Coins.ph PHP e-wallet or connected bank account.

Wei Zhou, Coins.ph Chief Executive Officer, stated, “Stablecoins are rapidly shifting from niche technology to essential global infrastructure. By partnering with a trusted global leader like Remitly, we are democratizing finance by leveraging stablecoins to cut costs and provide near real-time transfers, ensuring every dollar saved gives overseas Filipinos and their families more value and financial resilience.”

Gene Nigro, VP of Business Development at Remitly, added, “By integrating stablecoin technology with our trusted global network, we are accelerating our mission to transform lives with trusted financial services, ensuring that every dollar means more for the families that rely on these essential transfers.”

Forum 2026 sets the stage for the 1st, biggest science-driven pet nutrition forum

THE Philippine pet nutrition and wellness industry is set to reach a new milestone with the launch of the Global Pet Nutrition Forum (GPNF 2026), a first-of-its-kind industry forum dedicated exclusively to advancing pet nutrition, wellness, and responsible innovation. The inaugural forum has a theme of “Shaping the Future of Pet Nutrition Through Science, Safety, and Innovation.”

Organized under Nexus Training and Development Services, GPNF 2026 aims to bring together veterinarians, animal nutritionists, regulators, manufacturers, distributors, researchers, and pet industry stakeholders in a single, credible platform focused on education, collaboration, and long-term industry growth.

The forum responds to the rapidly evolving pet food and pet wellness landscape, where pet owners are becoming more discerning, regulations are tightening, and science-based nutrition is more critical than ever.

GPNF 2026 is designed to bridge gaps between science, policy, and commercial practice, ensuring that innovation remains aligned with animal nutrition and public trust.

Discussion topics

Global Pet Nutrition Forum 2026 will feature expert-led discussions on: Pet Industry Trends & Outlook

Artificial Intelligence in Shaping the Next Era of Pet Industry Pet food safety, quality, and regulatory compliance Minimally processed and functional pet diets

Emerging trends in pet wellness and supplementation Pet food extrusion technologies and pet food manufacturing

Evidence-based pet nutrition and formulation

Beyond knowledge-sharing, the forum is envisioned as a neutral ground where industry players can engage in meaningful dialogue, foster partnerships, and co-create solutions that elevate the standards of the pet industry, locally and globally.

As the Philippine pet market continues to expand, GPNF 2026 positions the country as a serious participant in the global pet nutrition conversation. By convening local and international experts, the forum seeks to empower Filipino businesses and

professionals to compete responsibly while prioritizing pet nutrition and wellness.

“This forum aims to foster trust and collaboration, connecting business and science to promote credible education in pet nutrition. This education is essential for making informed decisions, developing better products, and achieving superior outcomes for pets,” stated the GPNF organizing team, led by Allan B. Casajeros. “Our objective is to establish an informed, ethical, and collaborative pet nutrition ecosystem.” GPNF is expected to become an annual flagship event. Nexus Training and Development Services will expand future editions into specialized forums in animal nutrition, veterinary, nursing, education, energy and environmental sustainability, and energy use within the animal and pet care sectors.

For partnership inquiries, sponsorship opportunities, or media coordination:

Global Pet Nutrition Forum

Organized by Nexus Training and Development Services

Email:

AP obtains documents showing Venezuelan leader Delcy Rodríguez has been on DEA’s radar for years

By Jim Mustian, Joshua Goodman & Eric Tucker The Associated Press

WASHINGTON—When

President Donald Trump announced the audacious capture of Nicolás Maduro to face drug trafficking charges in the US, he portrayed the strongman’s vice president and longtime aide as America’s preferred partner to stabilize Venezuela amid a scourge of drugs, corruption and economic mayhem.

Left unspoken was the cloud of suspicion that long surrounded Delcy Rodríguez before she became acting president of the beleaguered nation earlier this month.

In fact, Rodríguez has been on the radar of the US Drug Enforcement Administration for years and in 2022 was even labeled a “priority target,” a designation DEA reserves for suspects believed to have a “significant impact” on the drug trade, according to records obtained by The Associated Press and more than a half dozen current and former US law enforcement officials.

The DEA has amassed a detailed intelligence file on Rodríguez dating to at least 2018, the records show, cataloging her known associates and allegations ranging from drug trafficking to gold smuggling. One confidential informant told the DEA in early 2021 that Rodríguez was using hotels in the Caribbean resort of Isla Margarita “as a front to launder money,” the records show. As recently as last year she was linked to Maduro’s alleged bag man, Alex Saab, whom US authorities arrested in 2020 on money laundering charges.

The US government has never publicly accused Rodríguez of any criminal wrongdoing. Notably for Maduro’s inner circle, she’s not among the more than a dozen current Venezuelan officials charged

with drug trafficking alongside the ousted president.

Rodríguez’s name has surfaced in nearly a dozen DEA investigations, several of which remain ongoing, involving agents in field offices from Paraguay and Ecuador to Phoenix and New York, the AP learned. The AP could not determine the specific focus of each investigation.

Three current and former DEA agents who reviewed the records at the request of AP said they indicate an intense interest in Rodríguez throughout much of her tenure as vice president, which began in 2018. They were not authorized to discuss DEA investigations and spoke on the condition of anonymity.

The records reviewed by AP do not make clear why Rodríguez was elevated to a “priority target,” a designation that requires extensive documentation to justify additional investigative resources. The agency has hundreds of priority targets at any given moment, and having the label does not necessarily lead to being charged criminally.

“She was on the rise, so it’s not surprising that she might become a high-priority target with her role,” said Kurt Lunkenheimer, a former federal prosecutor in Miami who has handled multiple cases related to Venezuela. “The issue is when people talk about you and you become a high-pri -

ority target, there’s a difference between that and evidence supporting an indictment.”

Venezuela’s communications ministry did not respond to emails seeking comment.

The DEA and US Justice Department also did not respond to requests for comment. Asked whether the president trusts Rodríguez, the White House referred AP to Trump’s earlier remarks on a “very good talk” he had with the acting president Wednesday, one day before she met in Caracas with CIA Director John Ratcliffe.

Almost immediately after Maduro’s capture, Trump started heaping praise on Rodríguez—this past week referring to her as a “terrific person—in close contact with officials in Washington, including Secretary of State Marco Rubio.

The DEA’s interest in Rodríguez comes even as Trump has sought to install her as the steward of American interests to navigate a volatile post-Maduro Venezuela, said Steve Dudley, co-director of InSight Crime, a think tank focused on organized crime in the Americas.

“The current Venezuela government is a criminal-hybrid regime. The only way you reach a position of power in the regime is by, at the very least, abetting criminal activities,” said Dudley, who has investigated Venezuela for years. “This isn’t a bug in the system. This is the system.”

Those sentiments were echoed by opposition leader María Corina Machado, who met with Trump at the White House Thursday in a bid to push for more US support for Venezuelan democracy.

“The American justice system has sufficient information about her,” said Machado, referring to Rodríguez. “Her profile is quite clear.”

Rodríguez, 56, worked her way to the apex of power in Venezuela as a loyal aide to Maduro, with whom she shares a deep-seated leftist bent stemming from her socialist father’s death in police custody when she was only 7 years old. Despite blaming the US for her father’s death, she steadily worked while foreign minister

and later vice president to court American investment during the first Trump administration, hiring lobbyists close to Trump and even ordering the state oil company to make a $500,000 donation to his inaugural committee.

The charm offensive flopped when Trump, urged on by Rubio, pressured Maduro to hold free and fair elections. In September 2018, the White House sanctioned Rodríguez, describing her as key to Maduro’s grip on power and ability to “solidify his authoritarian rule.” She was also sanctioned earlier by the European Union.

But those allegations focused on her threat to Venezuela’s democracy, not any alleged involvement in corruption.

“Venezuela is a failed state that supports terrorism, corruption, human rights abuses and drug trafficking at the highest echelons. There is nothing political about this analysis,” said Rob Zachariasiewicz, a longtime former DEA agent who led investigations into top Venezuelan officials and is now a managing partner at Elicius Intelligence, a specialist investigations firm. “Delcy Rodríguez has been part of this criminal enterprise.”

The DEA records seen by AP provide an unprecedented glimpse into the agency’s interest in Rodríguez. Much of it was driven by the

agency’s elite Special Operations Division, the same Virginia-based unit that worked with prosecutors in Manhattan to indict Maduro.

One of the records cites an unnamed confidential informant linking Rodríguez to hotels in Margarita Island that are allegedly used as a front to launder money. The AP has been unable to independently confirm the information.

The US has long considered the resort island, northeast of the Venezuelan mainland, a strategic hub for drug trafficking routes to the Caribbean and Europe. Numerous traffickers have been arrested or taken haven there over the years, including representatives of Joaquín “El Chapo” Guzmán’s Sinaloa cartel.

The records also indicate the feds were looking at Rodríguez’s involvement in government contracts awarded to Maduro’s ally Saab—investigations that remain ongoing even after President Joe Biden pardoned him in 2023 as part of a prisoner swap for Americans imprisoned in Venezuela.

The Colombian businessman rose to become one of Venezuela’s top fixers as US sanctions cut off its access to hard currency and Western banks. He was arrested in 2020 on federal charges of money laundering while traveling from Venezuela to Iran to negotiate oil

deals helping both countries circumvent sanctions.

In an unrelated matter, the DEA records also indicate agents’ interest in Rodríguez’s possible involvement in allegedly corrupt deals between the government and Omar Nassif-Sruji, a relative of a longtime romantic partner of Rodríguez’s, Yussef Nassif. Nassif-Sruji did not respond to e-mails and text messages seeking comment and an attorney for Nassif denied his client was involved in any nefarious activity, pointing out that he hasn’t been accused of any crime.

“He has the utmost respect and confidence in the acting president’s vision for Venezuela and believes she is a true patriot who has committed her entire life to the betterment of the Venezuelan people,” the attorney, Jihad M. Smaili, said in a statement. “The insinuations that Mr. Nassif is currently involved in any untoward relationship with the acting president are false.”

Taken together, the DEA investigations underscore how power has long been exercised in Venezuela, which is ranked as the world’s third most corrupt country by Transparency International. For Rodríguez, they also represent something of a razor-sharp sword over her head, breathing life to Trump’s threat soon after Maduro’s ouster that she would “pay a very big price, probably bigger than Maduro” if she didn’t fall in line. The president added that he wanted her to provide the US “total access” to the country’s vast oil reserves and other natural resources.

“Just being a leader in a highly corrupted regime for over a decade makes it logical that she is a priority target for investigation,” said David Smilde, a Tulane University professor who has studied Venezuela for three decades. “She surely knows this, and it gives the US government leverage over her. She may fear that if she does not do as the Trump administration demands, she could end up with an indictment like Maduro.”

Mustian reported from New York.

Risking Trump’s wrath, Canada seeks China trade lifeline as US policies bite

By Paul Wiseman AP Economics Writer

WASHINGTON—America’s top trading partners are responding to President Donald Trump’s belligerent and unpredictable trade policies by trying to take their business elsewhere. Canada broke with the United States Friday, slashing its 100% import tax on Chinese electric vehicles in return for lower tariffs on Canadian farm products, particularly canola seeds.

“It’s a huge declaration of realignment in Canada’s economic relations,” said Edward Alden, who studies trade issues as senior fellow at the Council on Foreign Relations.

“The economic threat from the United States is now perceived by Canadians as far bigger than the economic threat from China. So, this is a big deal.’’ Canada has repeatedly been the target of Trump’s impulsive wrath. In October, for instance, he said he was imposing a 10% tariff on Canadian imports as a reprisal for Ontario’s provincial government airing an advertisement that criticized the president’s go-to diplomatic tariff tool. He didn’t follow through on the increase, but tariffs on some key Canadian sectors like steel and aluminum remain. But Friday’s deal with China is potentially perilous one for Canada’s prime minister,

Mark Carney, who risks retribution from Trump on the eve of negotiations over the renewal of a North American trade pact that is crucial to Canadian businesses.

Trade partners seek alternatives to the US CANADA is not alone in looking for alternatives to America’s massive market as Trump slaps massive tariffs on imports in an attempt to strong-arm other countries into moving production to the United States.

The European Union formally signed a trade pact Saturday with the South American alliance known as Mercosur, which includes the region’s two biggest economies, Brazil and Argentina. The EU is also pursuing a trade deal with India. China, pounded by US tariffs since Trump’s first term, has diversified its exports away the world’s biggest economy to markets such as Europe and Southeast Asia. It seems to be working. China’s trade surplus with the rest of the world surged to a record $1.2 trillion in 2025, the Chinese government reported Wednesday, despite tumbling exports to the US. Since returning to the White House in January, Trump has overturned seven decades of US policy in favor of ever-freer trade. He’s imposed double-digit taxes on imports from almost every country on Earth as well as singling out specific industries, such as steel and autos, for levies of their own.

Trump says tariffs will raise money for the US Treasury, protect American industries, bring investment into to the United States.

On Thursday, in fact, Taiwan agreed to invest $250 billion in the United States in return for Trump reducing the tariff on its products to 15% from 20%.

The president’s use of tariffs has often been arbitrary and unpredictable.

He targeted Brazil, for instance, for prosecuting his friend, former Brazilian president Jair Bolsonaro. On Friday, he threatened to slap tariffs on countries that don’t support his efforts to wrest control of Greenland from Denmark.

Canada has its own complicated relationship with China FRIDAY’S deal in Beijing marks a turnabout in Canadian policy.

In 2024, Canada had followed the US by imposing 100% tariffs on EVs from China, reflecting fears that inexpensive Chinese cars would overwhelm domestic North American automakers.

But the deal with China delivers benefits to Canada.

First, its canola farmers need export markets, and this pact lowers China’s tariff on canola from 84% to 15%. Canola farmers are hailing Canada’s new trade deal with China as great news that could restore exports for the major crop. Second, the Trump administration,

favoring fossil fuels over green energy, “is actively hostile to EV production in North America,’’ said economist Mary Lovely, senior fellow at the Peterson Institute for International Economics. America’s opposition “threatens to make the North American (auto) industry obsolete in the future, as China moves ahead with rapid quality improvements in batteries and electronics for EVs.’’

“China’s strengths in electric vehicle sector are undeniable,” Carney said Friday. “China produces some of the most affordable and efficient energy efficient vehicles in the world. And in order for Canada to build our own competitive EV sector, we need to learn from innovative partners, access their supply chains, and increase local demand.’’

But Carney’s economic rapprochement with Beijing amounts to a gamble.

“This was an extraordinarily difficult thing for Carney to do,’’ Alden said. “Relations between Canada and China have been extremely fraught.’’

In 2018, China detained two Canadians in retaliation for Canada arresting an executive of the Chinese tech firm Huawei at the request of the United States. All three were released in a 2021 swap. Canada also launched an investigation three years ago into whether the Chinese interfered in Canadian elections in 2019 and 2021.

The deal has also drawn criticism already for exposing Canadian autoworkers to

competition with low-price Chinese EVs. Ontario Premier Doug Ford, leading the province that is the center of Canadian auto production, blasted the deal.

“Make no mistake: China now has a foothold in the Canadian market and will use it to their full advantage at the expense of Canadian workers,” Ford posted on social media. “Worse, by lowering tariffs on Chinese electric vehicles this lopsided deal risks closing the door on Canadian automakers to the American market, our largest export destination.”

In response to the criticism, Carney noted that the deal is limited. China can only export 49,000 EVs to Canada at the reduced 6.1% tariff rate, rising to about 70,000 in five years.

Risks to a big North American trade pact BUT the biggest risk to Canada comes from its prickly southern neighbor.

The US-Mexico-Canada Agreement (USMCA)—a regional trade pact that allows many goods to cross North American borders duty free—comes up for renewal this year. Trump is almost sure to demand changes meant to shift manufacturing to the United States—and might threaten to pull out of the deal altogether, especially if he is inclined to punish Carney for reversing his policy with China.

That’s a scary thought for Canada, which sends 75% of its goods exports to the United States.

The Canada-China deal Friday “will make the talks more complicated. Trump will not be pleased with the Canadian action, will probably take some retaliatory measure, probably against the Canadian auto industry, and will certainly make it an issue in the USMCA talks,’’ said William Reinsch, a former US trade official now with the Center for Strategic and International Studies. On Friday anyway, Trump commended Carney: “If you can get a deal with China, you should do that.” And Carney noted Friday that the China deal is preliminary, potentially giving him flexibility to seek changes if necessary to head off a conflict with the US. He also might be counting on getting a little help from US businesses. American automakers depend on a network of plants across the US, Canada and Mexico and “will fight tooth and nail’’ to defend USMCA. American farmers also rely on the pact for access to the Mexican and Canadian markets. And US tech companies like the way USMCA liberalized digital trade in North America. For now, Lovely said, Carney’s deal with China, sends “a big signal that Canada is looking to other partners and has options that would allow it to walk away from the USMCA before it makes humiliating compromises to serve only American interests.’’ AP Writers Ken Moritsugu

MELBOURNE, Australia—Thirdseeded Coco Gauff had some familiar struggles on serve but had still enough class and power to defeat Kamilla Rakhimova, 6-2, 6-3, on Monday in a first-round match at the Australian Open. Gauff has won two Grand Slam titles but has never gone past the semifinals at Melbourne Park. She was knocked out in the quarterfinals last year.

Gauff had six double faults in the first set against Rakhimova, and only one in the second set as she eventually found her range on serve. The American has struggled with double-faults and had 431 on the WTA Tour last year, by far the most of any player. No one else had more than 300.

I mean, it was just the first set,” Gauff said. “Only had one double in the second. I think both of us were struggling on the far side. The sun is right there, which I know for every time I play first on day here, that’s just how it is. But once I got through kind of the first game, I had like three doubles in the first game, and once I got through that game, I mean, it was pretty much smooth sailing from there. Maybe I would have liked to put more first

Gauff overcomes serving woes

PSC to receive PAGCOR boost for nationwide sports programs

THE Philippine Sports Commission (PSC) got a boost in the bid to strengthen regional training centers, expand grassroots sports programs and advance sports tourism initiatives with the help of the Philippine Amusement and Gaming Corporation (PAGCOR).

E xecutive Secretary Ralph Recto, PAGCOR chairman Alejandro Tengco and PSC chairman Patrick Gregorio in a recent meeting agreed to align priority sports projects and strategic plans aimed at accelerating nationwide sports development.

PAGCOR and PSC will work together to provide the right facilities, proper support, and adequate space to develop the talents of Filipinos,” Recto said. Through this partnership, we reaffirm the government’s commitment to investing in Filipino potential, building not only champions in sports, but also national pride and opportunity for communities across the country,” he added.

R ecto agreed with Gregorio and Tengco that alignment at the top is critical to ensuring that government investments translate into modern facilities and clearer pathways for young athletes.

To accelerate construction, Gregorio emphasized the need to identify and complete unfinished or underutilized facilities, notably the Ilocos Norte Sports Institute and Research Building, sports facilities in Siargao and the Zamboanga Peninsula, the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) and the Athletic Bowl in Baguio City, among others.

T he PSC chief also highlighted the importance of partnering with State Universities and Colleges (SUCs) that possess unused land, such as UP Mindanao, UP Diliman, and UP Los Baños.

be completed, while the swimming pool inside the UP Diliman campus has

remained unfinished for nearly a decade.

“ Let’s upgrade and finish these facilities. The PSC will be closely working with the LGUs while collaborating with SUCs to maximize and harness their unused lands with the intention of discovering and developing talent,” said Gregorio.

Gregorio pointed out that the commitment of national sports associations to establish their respective training centers in the provinces—where they usually recruit their athletes—is crucial to the rehabilitation and renovation efforts.

“ Equally important is the establishment of sustainable and well-managed training centers for athletes in the provinces, ensuring that these facilities do not end up as white elephants,” said Gregorio.

Running parallel to these efforts is the PSC’s plan to rehabilitate the entire Rizal Memorial Sports Complex, a historic hub of Philippine sports.

The renovation of the tennis center is nearing completion in time for the Philippine Women’s Open- Women’s Tennis Association 125 event set for January 26 to 31.

serves in the court, for sure.”

The 21-year-old Gauff has been reworking her serve for the last several months and practiced some more during a comfort break in the match on Rod Laver Arena.

Gauff faces left-handed Olga Danilovic in the second round.

Danilovic defeated 45-year-old Venus Williams on Sunday in a first-round match, which erased the possibility of the two Americans facing off.

There’s not many [left-handed players] on Tour, but Olga’s a great player, she’s beat some top players so it’s going to be a tough match,” Gauff said.

No. 4 Amanda Anisimova, runnerup at the last two majors, advanced 6-3, 6-2 over Simona Waltert, No. 6 Jessica Pegula beat Anastasia Zakharova 6-2, 6-1 and No. 14 Clara Tauson had a 6-3, 6-3 win over Dalma Galfi.

Former champ out SOFIA KENIN’S poor recent run at the Australian Open

continued as she lost, 6-3, 6-2, to fellow-American Peyton Stearns.

K enin was a surprise winner here in 2020, but has since struggled at Melbourne Park losing in the first round for the fifth consecutive time. No. 15 Emma Navarro lost in three sets to Magda Linette of Poland.

P riscilla Hon secured her first trip to the second round of her home major in six years and also helped her opponent Marina Stakusic leave the court in a wheelchair after the

Auger-Aliassime retires with injury IN an early result on the men’s side, No. 7 seed Felix Auger-Aliassime of Canada retired in his match with Nuno Borges of Portugal. Borges

Big-hitting Parks shows Eala Aussie Open exit

A“

CBy Josef T. Ramos

OACHES Leo Austria and Chot Reyes vowed that San Miguel and TNT’s second consecutive face-off in the Philippine Basketball Association Philippine Cup will be a thriller.

“ We are up against a very strong team and we are expecting this series to be tougher than the last time. We are hoping to give fans the excitement and the thrill,” Austria said. “Although a lot of people are expecting us to dominate the game but it’s not that easy.”

After winning the title, a lot of teams are thinking how to get that championship out of our side.”

Game One is on Wednesday at the Ynares Center in Antipolo City.

I n terms of championships head-to-head, the Beermen hold a 6-1 advantage since the 2005 Fiesta Conference finals, 2-1 in Philippine Cup, against the Tropang 5G, while Austria is ahead of Reyes, 2-0, in their finals coaching match-up.

San Miguel’s Philippine Cup win last season prevented TNT from completing the grand slam. Austria, however, said they were focus was solely on winning the conference and keeping TNT from securing the treble.

We didn’t not think of stopping them about their grand slam campaign. It is all about us winning the title, and that was what the players wanted then. It is the same now,” Austria added.

“They are also stronger this conference compared the last time because they are healthy and complete now.”

The Beermen won the Philippine Cup Season 49 finals, 4-2. T hey booked a return to the title series by beating Barangay Ginebra San Miguel in

and