BusinessMirror January 23, 2026

By Samuel P. Medenilla & Andrea E. San Juan

RESIDENT Ferdinand R. Marcos Jr.’s signal that he does not want the US dollar/ peso exchange rate to reach P60 could have had a hand in the Philippine peso posting on Thursday its strongest finish in two weeks, according to an economist.

Data from the Bankers’ Association of the Philippines (BAP) showed the Philippine peso closed at P59.16 per $1, its strongest level against the dollar in two weeks. This is 10 centavos stronger from its previous finish of P59.261.

“The US dollar/peso exchange rate corrected improved for the second straight trading day, by -0.101 or -0.2 percent to close at 59.16, the lowest/best in more than 2 weeks or since January 5, 2026 and already lower vs. the intraday record high of 59.50 posted on January 20, 2026, after President Marcos signaled that he does not want the US dollar/peso exchange rate to reach 60,” Michael Ricafort, chief economist at Rizal Commercial Banking Corp. said on Thursday.

On Thursday, Presidential Communications Office (PCO) Undersecretary Claire Castro revealed

that the president expressed concern over the weakening of the peso as the local currency has been hitting record lows since the year started, nearing the P60 mark to a dollar.

“Ayaw po sana, ayaw po ng Pangulo na umabot pa ito sa 60 pesos na palitan So, abangan na lang po natin kung ano po muli ang mapaguusapan at kung ano ang gagawin ng BSP patungkol po rito,” Castro said at a briefing in Malacañang Thursday morning. Ricafort, however, noted that there are other factors which contributed to the strengthening of the local currency on Thursday, saying

the Bangko Sentral ng Pilipinas focused on “dampening large swings in the exchange rate rather than setting a specific level.”

The Philippine peso hitting its strongest point in two weeks could also be attributed to the improved “global risk appetite” after US President Donald Trump withdrew threats of higher tariffs on some European countries related to his plans to acquire Greenland, said Ricafort. The RCBC chief economist said the peso may have finished strong on Thursday due to “some progress recently on the judicial process in

By Reine Juvierre S. Alberto @reine_alberto

THEgovernment has cut its revenue target for this year after lowering its economic growth outlooks, as slower activity is expected to drag on collections and overall fiscal performance.

This adjustment was revealed to reporters on Thursday after disclosure of the Cabinet-level Development Budget Coordination Committee’s (DBCC) December meeting results. Here, economic managers lowered the revenue target to P4.824 trillion, a 3.19-percent reduction from the P4.983-trillion goal set in June 2025. This comes after the DBCC decided to trim the gross domestic product (GDP) growth target to 5 to 6 percent for this year from the earlier 6 to 7 percent. As a result, revenue targets of the government’s two main tax-collecting agencies were also adjusted downward. The Bureau of Internal Revenue (BIR) is now expected to collect P3.579 trillion this year, 4.31 percent lower than its previous target of P3.431 trillion. Meanwhile, the Bureau of Customs’ (BOC) target was reduced by 0.98 percent to P1.003 trillion from the earlier estimate of P1.013 trillion.

JAPAN, IOM SIGN BASULTA HEALTH PROJECT Tristan A. Burnett, Chief of Mission of the International Organization for Migration (IOM),

By Bless Aubrey Ogerio

PROGRESS in transparency and anti-corruption efforts is viewed as a key factor in attracting and retaining European investment in the country, according to the European Union (EU) Ambassador to the Philippines. Trade between the Philippines and the EU has steadily grown, with utilization of the Generalized System of Preferences (GSP+) reaching 80 percent in 2025, up from 70 to 75 percent in previous years. “I think investors wish to have predictability in the market, wish to have a good feeling of good governance being ensured in any mar -

ket where they do invest or already invest or they wish to invest,” Massimo Santoro said during the Doing Business in the Philippines Press Launch in Makati City on Thursday.

He added that government measures promoting accountability can help maintain investor confidence and attract new investments.

“So far, we do look at this positively, how it is being conducted, and we continue supporting any additional action intended to ensure accountability,” he added.

The ambassador noted that the “full potential” of EU-Philippine trade hinges on continued reforms and effective implementation of

domestic legislation, as well as the country’s workforce advantages, including English proficiency.

Regarding the negotiations with the European Free Trade Association (EFTA), Santoro said that completion could occur in 2026, though the timeline depends on both sides’ capacity to deliver results. The next full round of talks is scheduled for March.

Santoro reported that the Philippines maintained a trade surplus with the European Union, with total bilateral trade reaching US$15.5 billion in 2024.

EU foreign direct investment in the Philippines stood at €14.2 billion in 2023, while Philippine FDI in the EU totaled €2.1 billion.

THE Marcos Jr. administration is still pushing for a credit rating upgrade as it reinforces prudent fiscal discipline and keeps inflation under control, according to Finance Secretary Frederick D. Go.

“We still want to get our upgrade. It’s becoming more and more challenging at this moment, but we are not giving up,” Go said in his keynote address during the Financial Executives Institute of the Philippines (FINEX) 2024 inaugural meeting on Wednesday night.

Go said the Department of Finance’s (DOF) constant refrain is fiscal discipline and smart spending.

“We will uphold this by reviewing all our respective expenditure programs to ensure that we spend on what is necessary and focus on productive and efficient spending, especially where the greatest multipliers are,” Go said. “This fiscal discipline approach will be DOF’s constant refrain from here on.”

Inflation last year eased to 1.7 percent, which Go attributed to government measures to reduce tariffs on key commodities, including the cut in rice tariffs from 35 percent to 15 percent.

However, full-year economic growth for 2025 is estimated at 4.7 percent to 4.8 percent by the Philippine Statistics Authority and several multilateral organizations.

While a 4.8-percent growth rate seems like a “huge drop” from the usual 5.5-percent growth that the Philippines has been used to in the previous years, Go said this is still “way above” the Asean average of 3.8 percent and the global average of 2.9 percent.

“I would like to assure you that the long-term fundamentals of the Philippine economy remain intact and is on solid footing,” Go said. “It is still not a bad performance.”

“But having said that, our economy is expected to regain momentum and bounce back to the 5++ level this 2026,” Go noted.

Moreover, Go said the government’s fiscal discipline has earned a credit rating upgrade

flights between Paris and Manila from May to October this year, the Philippines will lose its only direct route from Europe for six months.

The Philippines received 5.87 million inbound tourists last year, 1.34 percent less than the 5.95 million who arrived in 2024, and just 71 percent of the 8.3 million historic high recorded in 2019, prior to the pandemic. (See, “Tourist arrivals barely hit 6M, still below pre-pandemic peak,” in the BusinessMirror, Jan. 20, 2026.)

The DOT is pinning its hopes on a tourism rebound this year, with mainland Chinese now allowed visafree entry to the Philippines for 14 days. China was the second top source market for tourists in 2019, accounting for 1.7 million of the total arrivals then. Last year, tourists from China slumped by 14,72 percent to 267,660 from 2024, the country falling to sixth place as a source market.

Gov’t adopts action plan on development cooperation

By Justine Xyrah Garcia

THEgovernment has adopted a new action plan intended to translate its latest review of development cooperation into concrete steps that can be carried through existing government systems, according to the Department of Economy, Planning and Development (DepDev).

Survival Fund to support local adaptation projects. Moreover, there’s also the Philippine Sustainable Finance Roadmap, which directs agencies to align spending with the National Adaptation Plan and coordinate green investment strategies.

For his part, Science Secretary Renato Solidum Jr. noted that access to international climate finance remains a challenge.

According to DepDev, the Philippine Action Plan for Effective Development Cooperation consolidates findings from the country’s participation in the Fourth Monitoring Round of the Global Partnership for Effective Development Co-operation, as well as

Last year, Solidum called for improved use of funds such as the Green Climate Fund, the Adaptation Fund, the Global Biodiversity Framework Fund and the Fund for Responding to Loss and Damage to close financing gaps for climate adaptation. could support a rebound, the agency warned that any recovery would likely

inputs from multisectoral consultations conducted last year.

DEPDev said the plan is designed to move beyond assessment and dialogue by identifying “practical, timebound actions” that can be embedded in regular planning, budgeting, pro -

be uneven.

International project finance remains at a five-year low, although active M&A markets could generate more cross-border deals.

Still, Unctad cautioned that growth would likely be driven by one-off

gramming, and monitoring processes, rather than implemented as stand-alone reforms.

Among the focus areas identified in the plan are improving coordination among development actors, strengthening national monitoring and evaluation systems, and formalizing engagement with civil society organizations and the private sector through existing coordination and accountability mechanisms.

The plan also identifies the progressive establishment of a Development Cooperation Framework that would serve as a policy reference for engaging development partners in line with national priorities and existing coordination platforms, the agency also said.

DepDev Secretary Arsenio M. Balisacan said the effectiveness of the plan would depend on how

mega transactions and fluctuations through financial centers, rather than a broad-based recovery in real investment activity.

Ongoing geopolitical tensions, policy uncertainty, and economic fragmentation are expected to keep actual project activity subdued.

As in 2025, large-scale investments in strategic sectors, particularly data centers and semiconductors, may continue to support headline capital expenditure figures, even as project activity becomes more geographically concentrated.

Locally, officials have pointed to potential bright spots. Information and Communications Technology Secretary Henry Aguda recently said the Philippines is optimistic about positioning itself as a data center hub in Southeast Asia. (See: https://businessmirror.com.ph/2026/01/16/

well agreed actions are carried through government policies, budgets and programs, and how consistently progress is monitored and acted upon over time.

“As we move into implementation, success will be measured by how well agreed actions are carried through existing policies, budgets, programs, and coordination mechanisms—and by how progress is monitored, discussed, and acted upon over time,” he said.

The Philippine Action Plan for Effective Development Cooperation was adopted following a high-level forum on January 20 that concluded the Philippines’s participation in the monitoring round.

The document is expected to be finalized based on the discussions and circulated to concerned agencies for reference.

abu-dhabi-a-i-firm-eyeing-tobuild-300-m-data-center/)

The electronics sector also remains a key pillar. The Semiconductor and Electronics Industries in the Philippines Foundation Inc. said the country could be on track to reach nearly $50 billion in electronics exports by 2026 if current trends hold. (See: https://businessmirror. com.ph/2026/01/01/semiconexports-could-near-50b-in2026-seipi/)

In addition, data from the Philippine Statistics Authority showed electronics remained the country’s top export from January to September 2025, totaling $33.52 billion. It was up 9.5 percent from $30.60 billion a year earlier, and accounted for 53.2 percent of the nation’s $63.02-billion total exports.

of local currency slid to P59.46 on 15 January 2026.

Causes of drop

view of the recent high-profile arrests made related to the anomalous flood control projects.”

“Other positive factors for the peso exchange rate recently: The Philippines made a significant natural gas discovery for the first time in more than a decade that could reduce the country’s need for imported natural gas, coal, and other energy products; continued net foreign buying at the local stock market for almost all trading days since the start of 2026, or 14 out of the 15 trading days of 2026, at +US$4.8 million on January 22, 2026, after the previous trading day’s +US$4.3 million,” said Ricafort.

The economist also took into account the gross international reserves (GIR) data, which he said posted its third highest at $110.8 billion as of end-December 2025. This, Ricafort said, would provide “greater buffer/cushion/leeway to support the peso exchange rate vs. the US dollar.”

The President signalled he is against the value of the peso breaching the P60 threshold against the greenback after his meeting with officials of the Bangko Sentral ng Pilipinas (BSP) on January 20, 2026.

“The President is hopeful [the value] of peso doesn’t go up to 60 pesos [against the dollar]. So, let’s just wait and see what else will be discussed and what the BSP will do about this,” Palace Press Officer Claire Castro said in a press briefing on Thursday.

On Wednesday, the value of peso reached another record low at P59.455 against the United States dollar days after the value

and a series of affirmations from international credit watchers.

The Philippines attained an A- rating with Stable Outlook from Japanbased Rating and Investment Information, Inc. and the Japan Credit Rating Agency, Ltd. Meanwhile, S&P Global has affirmed its BBB+ rating with a positive outlook on the Philippines, while Moody’s also maintained its Baa2 rating with a stable outlook. The Philippines’s recent $2.75-billion US dollar bond issuance was oversubscribed and priced at rates tighter than initially expected, Go said, reflecting a sustained appetite for government debt papers. While the government’s first global bond floatation this year drew strong demand from investors, Go said the next fundraising would be timed with the government’s expenditure requirements. This year, the government plans to borrow P2.682 trillion, with P616.86 billion to be sourced from external lenders to help finance its P6.793trillion spending program. Projected revenues of P4.983 trillion will cover only part of the budget, leaving the remainder to be funded through borrowings. Outstanding government debt climbed to a new record high of P17.647 trillion as of end-November 2025. Reine Juvierre S. Alberto

Investor, consumer confidence ACCORDING to Leonardo A. Lanzona, economist at the Ateneo de Manila University, taxes are being relaxed to spur more consumption and investments in physical and durable goods.

“Much of what the government doing right now is to try raising both investor and consumer confidence. The goal is to try to make the private sector to participate more in the economic activity,” Lanzona told the BusinessMirror Since the government will reduce its spending, the lower tax revenues are not going to affect the fiscal deficit and the borrowing program for the rest of the year, Lanzona explained.

ANALYSTS earlier attributed the drop in the value of peso to global uncertainties including strengthening value of the US dollar, speculation of the US Federal Reserve cutting its rate, the tension between the US and Venezuela, as well as the effect of the government crackdown on anomalous flood control projects on business confidence.

Other factors, which may contribute to the weakened value of the peso are “gaps in the country’s balance of trade” or trade deficit, wherein the country imports more goods and services than it exports, according to Castro.

The Presidential Communications Office undersecretary said Marcos wants to keep the value of peso below the P60-threshold.

“The President thinks it would not be good if the exchange rate increased further, which would not be in favor of the peso,” she said.

“If it increased by 60 pesos, the value of the peso would decrease, our debt would definitely increase because the exchange rate would increase,” she added.

The Bureau of Treasury earlier reported that the country’s outstanding debt reached P17.65 trillion as of November 2025.

Castro made the statement when asked what possible factors will the BSP consider before it decides to intervene in keeping the value of peso stable.

Last week, she said BSP was still studying if there was a need for such intervention.

“So, the BSP is more focused on preventing excessive fluctuations in the value of the peso than on setting a specific exchange rate,” Castro said.

“Nevertheless, without any clearcut strategy, how to the move the economy out of its current crisis state remains an issue,” Lanzona pointed out. “Fundamentally, the question is whether the public sector will increase its consumption with lower taxes.”

Lanzona said this is similar to the supply side economics in the United States, which may seem good in theory, but only led to more budget deficits since the government is still expected to invest in human capital and other social services, especially if the economy is not moving.

“Ultimately, we may be facing a long period of stagnation and inflation if production does not pick up,” Lanzona said.

Both the BIR and BOC missed their collection targets last year, after economic growth slowed in the second half of the year following the flood control corruption scandal. The Philippine economy grew by 4 percent in the third quarter, its slowest pace since 2011 excluding pandemic years.

The BIR fell short of its target by 3.7 percent, collecting P3.105 trillion against its P3.219-trillion fullyear goal.

The BOC, meanwhile, raised P934.4 billion in 2025, missing its P958.713billion target by 2.6 percent. Despite the misses, both agencies still posted year-on-year increases in collections.

To partly offset the lower tax targets, the DBCC hiked its non-revenue target to P349.9 billion this year, a 40.46-percent increase from the earlier goal of P249.1 billion. Other departments and agencies are also expected to contribute P38.7 billion in non-tax revenues to the national government.

Non-tax revenues include privatization proceeds, fees and charges and grants.

www.businessmirror.com.ph

Ex-DPWH chief Bonoan, South Forbes property linked to Martin may be the focus of next Blue Ribbon hearing

UNRESOLVED issues involving former Department of Public Works and Highways (DPWH) Secretary Manuel Bonoan, as well as the acquisition of a house and lot at 30 Tamarind Road in South Forbes in Makati City in 2023 where contractor Pacifico “Curlee” Discaya II was involved, may be the focus of the Senate Blue Ribbon Committee’s next hearing on the flood control mess, Senate President Pro Tempore and Blue Ribbon Committee chairman Panfilo “Ping” M. Lacson said.

Bonoan, according to Lacson, still has much to explain, including a seeming “pattern” of wrong grid coordinates for flood control projects in the report Bonoan submitted to President Ferdinand Marcos Jr.

“We can focus the next hearing on Bonoan to tackle other issues he can clarify. He is in the country so he can address the issues involving him,” he said in English and Filipino in a radio interview.

He noted that in the last Blue Ribbon Committee hearing, DPWH Undersecretaries Arthur Bisnar and Ricardo Bernabe III showed data indicating a “clear pattern” on the submission of wrong grid coordinates.

If only a few out of the total number of flood control projects had wrong grid coordinates, it could have been considered inadvertent or a result of “negligence,” Lacson said.

But, he pointed out, with over 86 percent of projects bearing wrong grid coordinates “we can say this is deliberate.”

Lacson said he is not discounting the possibility that the submission of wrong data could be meant not just to discredit the “Sumbong sa Pangulo” website listing the locations of flood control projects - but also to undermine the prosecution of cases involving ghost flood control projects.

“For example, a case is filed using data from the Sumbong sa Pangulo website as evidence. The defense can question the website’s credibility. That is one possible long-term motive for submitting wrong data,” he said.

In a separate radio interview, Lacson said that if Bonoan would be evasive in answering questions, he could be cited in contempt of

the committee, and arrested and detained in the Senate.

“He could be detained, not just issued an arrest warrant,” he said.

South Forbes House

MEANWHILE, Lacson said the Blue Ribbon Committee may also invite to its next hearing former Speaker Martin Romualdez or a representative of the Securities and Exchange Commission (SEC), to shed light on the purchase of a house and lot at 30 Tamarind Road in South Forbes in Makati City in 2023.

He said records showed the buyer of the house was Golden Pheasant Holdings Corp., whose major stockholder is Jose Raulito Paras. Paras has held high positions in at least three companies connected to the former Speaker.

“For the next Blue Ribbon hearing, we can invite Romualdez anew and course the invitation through Speaker Faustino Dy III. If he wants to attend he is welcome to come and air his side. But he cannot be forced to come due to inter-parliamentary courtesy,” Lacson said.

Lacson noted two staff of the house’s previous tenants had told the Blue Ribbon Committee last Monday that Discaya, acting as contractor for the new owner was the one who told them to vacate the house as they would prepare it for the new owner. They also positively identified Discaya at the hearing.

Paras will also be invited to the next hearing, so he can explain his capacity to buy the house, which is reportedly worth at least P1 billion, he added.

“We will invite Atty. Paras and if he says Golden Pheasant and not former Speaker Romualdez bought the property, he can explain to the Bureau of Internal Revenue what his financial capacity is to buy the house, which is quite expensive,” Lacson said.

“I am not saying this is enough to implicate the former Speaker. What I am saying is that it will provide leads to investigators because the Senate investigation is not for prosecution but is in aid of legislation. At the same time, we can forward the appropriate evidence to the investigating agencies,” he added. Butch Fernandez

Mayor Nancy Binay commends Makati Police for swift action on theft cases; orders intensified security measures

MAKATI City Mayor Nancy Binay on Thursday personally commended the Makati Police Department for its swift and decisive action in resolving several recent theft cases in the city, reaffirming her administration’s commitment to maintaining law and order.

“I want to personally commend the quick action and relentless dedication of the Makati City Police. Their successful apprehension of the suspects is proof of our focused efforts on fighting crime,” Binay said.

The recognition follows a series of successful operations by the local police, including the recent recovery of an influencer’s iPhone 17 by police officers of the Brgy. Poblacion sub-station, the apprehension of a notorious “salisi” suspect, and the arrest of individuals involved in a high-speed pursuit following a mobile phone theft.

The mayor noted that the quick response of the authorities validates the efficiency and vigilance of the Makati Police Department.

“The safety of every Makati resident remains our top priority,” the Mayor said.

At a recent courtesy call at the Makati City Hall, Mayor Binay met with Makati Police Chief Colonel Pedro Alagano to discuss the city’s current security landscape. There, the Mayor issued a direct order to Chief Alagano to further intensify police activities and visibility across all barangays.

The Mayor emphasized that as the financial capital of the Philippines, Makati must remain a haven for everyone. She directed the police force to increase patrols, especially in high-traffic areas, commercial districts, and transport hubs, to deter criminal elements and ensure rapid response times.

“Maintaining peace and order in Makati is a high priority of my administration,” Mayor Binay added. “We want to ensure that everyone—whether they are a resident, a worker, or a visitor—will feel safe and secure in our city at any time of the day or night.”

The mayor concluded that the City Government continues to provide full support to the local police department through the procurement of modern equipment, vehicles, and the enhancement of the city’s state-of-the-art surveillance systems.

Earthquake swarm continues to shake Sultan Kudarat, nearby areas–Phivolcs

MINOR to moderate offshore earthquakes or an earthquake swarm continue to shake communities in Sultan Kudarat and nearby areas on Thursday, the Philippine Institute of Volcanology and Seismology (Phivolcs) reported.

The U.S. Geological Survey define earthquake swarm as a series of many small-tomoderate earthquakes in a localized area, notable for lacking a single, dominant main shock, unlike typical earthquake sequences. These swarms can last days, weeks, or months, with many earthquakes of similar magnitude occurring in quick succession, often linked to fluid movement (water, gas, magma) in volcanic or geothermal areas, stimulating many small fractures rather than one large fault slip.

Since the earthquake swarm started at 10:52 p.m. on June 19, a total of 657 earthquakes been recorded as of 3 p.m. Thursday, January 22, Phivolcs, Dr. Winchelle Ian Servilla

Tacloban RTC finds Cumpio and co-accused guilty of violating Terrorism Financing Prevention Act

By Joel R. San Juan & Rex Anthony Naval

ATRIAL court in Tacloban City has found community journalist Frenchie Mae Cumpio and her co-accused Mariel Domequil guilty of the financing terrorism charge under Republic Act No. 10168 or the “Terrorism Financing Prevention and Suppression Act of 2012 and sentenced them to a prison term of 12 to 18 years.

In an 88-page ruling Judge Georgina Perez, presiding judge of the Regional Trial Court of Tacloban City Branch 45, also directed Cumpio and Domequi to pay a fine of P500,000.

The court ordered the two to be committed at the Correctional Institution for Women in Mandaluyong City.

“Since the prosecution was able to establish all the elements of violation of Section 8 (ii) of RA 10168, then the two accused are criminally liable as charged,” the court ruled.

“Jurisprudence consistently holds that in criminal cases, proof beyond reasonable doubt does not require absolute certainty of the fact that the accused committed the crime, and it does not likewise exclude the possibility of error, what is only required is that degree of proof of which, after a scrutiny of the facts, produces in an unprejudicial mind moral certainty of the culpability of the accused,” it added.

The court’s verdict was released a day before Cumpio’s 27th birthday and was condemned by Reporters Without Borders (RSF), a coalition of international press freedom organizations.

The two were accused of providing and delivering P100,000 in cash, two boxes of .45 caliber bullets, 12 shotgun ammunition, and textile to the Communist Party of the Philippines-New People’s Army (CPP-NPA) in San Andres, Catbalogan City on March 29, 2019.

The CPP-NPA was declared a terrorist organization under Proclamation No. 374 issued on December 5, 2017.

PRESIDENT Ferdinand Marcos was briefly hospitalized last Wednesday after suffering from stomach pain.

Malacañang made the announcement in a press briefing amid rumors that the Chief Executive was confined in a hospital in Metro Manila.

In a video interview released by the Presidential Communications Office (PCO), Marcos personally confirmed that he suffered from diverticulitis, a medical condition where the large intestine suffers from inflammation.

T hose who are afflicted with the said

Thus, at the time the two accused provided cash and supplies to its members, the organization was already domestically recognized or identified as a terrorist group. These facts collectively satisfy all the elements of Violation of Section 8(ii) of RA 10168,” the court said.

The RSF, in a statement, insisted that the charges against Cumpio were fabricated.

“The guilty verdict for ‘financing terrorism’ is a clear miscarriage of justice, exposed by an RSF investigation that found the fabricated case, as confirmed by RSF’s investigation,” it added.

Cumpio and Domequil were among the so-called “Tacloban 5” who were arrested by authorities on February 7, 2020 in a joint police and military operation that authorities claimed uncovered firearms and explosives in a supposed safehouse.

The RSF said at the time of her arrest, she was executive director of the Eastern Vista news website and a radio news anchor at Aksyon Radyo-Tacloban DYVL, reporting extensively on alleged police and military abuses as well as community welfare issues in Eastern Visayas.

“Her case raises serious concerns about allegations that authorities planted the weapons used to justify her arrest during a raid, a claim backed by an RSF investigation,” the RSF said.

“We are appalled by this verdict. The RSF investigations and evidence presented in court by Frenchie Mae Cumpio’s lawyers clearly show how fabricated this case has been from the very beginning,” it added.

“Frenchie Mae Cumpio’s conviction represents a devastating failure on the part of the Philippine justice system and the authorities’ blatant disregard for press freedom,” it added.

‘A win for Filipino people against terror funding’

THE National Task Force to End Local Communist Armed Conflict (NTF-ELCAC) announced that

condition suffer pain in their lower abdomen.

“It ’s a common complaint apparently between people who are heavily stressed and people who are, I must admit, growing old,” Marcos said.

T he Chief Executive assured the public that the condition, which he also attributed to his hectic schedule, is not life threatening

“D on’t worry, the rumors of my death are highly exaggerated,” Marcos said.

In a press briefing, Palace Press Officer Claire Castro said the President was briefly admitted at the St. Luke’s Hospital in Quezon

the Filipino people have won a decisive legal victory against terrorism and those who finance it with the conviction of Cumpio and Domequil for Terrorism Financing under Republic Act No. 10168 on Thursday.

The two were convicted by the RTC Branch 45 of Tacloban City, an anti-terrorism designated court, NTF-ELCAC executive director Undersecretary Ernesto Torres Jr. said in a statement.

“The court has spoken. Justice has been fairly dispensed with—based on evidence, not noise, not ideology, and not propaganda,” he added.

Presiding Judge Perez was hailed by the NTF-ELCAC as a victory not just for the State or any institution, but for the Filipino people and their collective right to be protected from terrorism and its financial lifelines.

Torres stressed that the verdict demonstrated how the justice system works when due process is allowed to run its full course.

“This decision is a clear affirmation that our justice system is working exactly as it should— independently, impartially, and anchored on due process and evidence,” he said.

Torres rejected claims by some groups that the case was “manufactured” or politically motivated.

“This case did not arise from thin air. It was built on sworn testimonies, financial evidence, and material facts that demonstrated the deliberate handling and facilitation of funds for a terrorist organization,” he pointed out.

He emphasized that this conduct falls squarely within what the Terrorism Financing Prevention and Suppression Act criminalizes: the act of providing, collecting, or channeling resources for groups designated as terrorists.

Torres also emphasized that the acquittal of Cumpio and Domequil on the illegal possession charge only reinforced the credibility and independence of the judiciary.

“The same court that acquitted them of one charge convicted them of another after full trial.

City on Wednesday evening.

“The President spent the night under medical observation as a precautionary measure after experiencing discomfort. His doctor’s advice, rest and monitoring, and his condition remains stable,” she said.

Mar cos returned to Malacañang on Thursday morning to continue with his work, which includes attending two private meetings that day. He made his video message at one of the said meetings.

T he Chief Executive, however, was unable to attend The Outstanding Young Men (TOYM) 2025 Awarding Ceremony in

That alone demolishes the false narrative that the courts are mere rubber stamps for the State or instruments of political persecution,” he said.

“This shows judicial independence. The court separated what was not proven from what was proven beyond reasonable doubt,” he added.

Responding to claims that the conviction was an attack on press freedom, church work, or human rights advocacy, Torres said:

“Let us be clear: terrorism financing is not journalism. It is not church work. It is not human rights advocacy. No one is being convicted for dissent. No one is being punished for free speech. They were convicted for financing a terrorist organization—plain and simple,” he stressed.

The NTF-ELCAC official added: “You do not launder terror funds and then hide behind press freedom or the Bible.”

Torres also dismissed assertions that the ruling was meant to intimidate journalists and human rights workers, branding it as “a lie meant to shield criminal liability with moral blackmail.”

“Terrorism financing is a crime in every civilized country. If this case were tried in the United States, Europe, or Japan, the result would be no different,” he noted.

He also rejected insinuations that the judiciary was being weaponized by the State, stressing that such irresponsible allegations “is an insult to the integrity of our courts and to Judge Georgina Perez, who decided this case based on law and evidence—not on slogans, street pressure, or international lobbying.”

Torres said the proper remedy for those who disagree with the ruling is to seek redress through the courts.

“The remedy for those who disagree with this ruling is appeal—not incitement, not international propaganda, and not delegitimizing the justice system,” he said.

Malacañang that day. His speech a t the event was read by Executive Secretary Ralph G. Recto. W hen asked if the incident will result in the deferment to the other scheduled activities of the President in the following days, Castro said it will depend on the recommendation of the President’s doctor.

“ We will see what will happen tomorrow because he has an event. If the doctor will advise it and his condition is okay, we will probably see the President right away in the said events,” Castro said. Samuel P. Medenilla

Remulla encourages public participation to strengthen integrity in fire inspections

INTERIOR and Local Government Secretary

Jonvic Remulla called on the public to actively support transparency and accountability in the fire service as he pushes for necessary reforms in what he described as a graft-ridden Bureau of Fire Protection (BFP).

Remulla said the initiative aims to further strengthen integrity within fire safety inspections and protect business owners from undue pressure from erring fire inspectors.

“Kung meron mang [nangingikil], please call our hotline, call 911,” Remulla said, underscoring the government’s openness to citizen participation in governance.

told the BusinessMirror Of these totals, he said 199 were strong enough to be located and plotted on the map, while 30 have been felt in various areas.

The magnitude of these earthquakes ranges from 1.4 to 5.2.

“But most of these earthquakes were very minor earthquakes, although we can still locate them,” Sevilla, the chief of Phivolcs’ seismological observation and earthquake prediction, said.

The earthquakes are tectonic in nature, he said, adding that “there are no volcanoes near Sultan Kudarat.”

Is it dangerous? WHILE a strong earthquake can happen after an earthquake swarm, such as what happened in northern Japan in 2025, Sevilla said earthquake swarms happened in the Philippines before.

The DILG, together with the BFP leadership, has implemented the mandatory use of body cameras during fire safety inspections to ensure that all inspections are conducted strictly in line with standard operating procedures. Through the initiative, the DILG chief believes establishment owners are empowered to expect inspectors to comply with this requirement.

With the rollout of body cameras, inspections are now more transparent and efficient, as findings, whether compliant or with noted violations, are communicated in real time and fully documented. This system minimizes delays, strengthens trust, and promotes fairness

on both sides, Remulla said.

The reforms are already yielding encouraging results, Remulla reported, saying there have been zero complaints reported in recent days, marking a significant improvement.

“For the first time in history, walanang harassment parasamgamay-aringnegosyo,” he noted.

Highlighting the role of innovation, Remulla expressed optimism about the impact of technology-driven reforms.

“From ten complaints a day to zero. We’re very happy that we used technology against corruption and it’s working,” he said.

The DILG remains confident that these measures will continue to foster a culture of accountability, professionalism, and public trust within the fire service.

Organized crime

ON Wednesday, Remulla said he is pursuing necessary reforms within the BFP and vowed to dismantle an alleged “organized crime syndicate” that developed over time within certain areas of the BFP, involving the recruitment process, procurement of assets, and the issuance of fire safety permits. He stressed that the reforms are intended to address long-standing vulnerabilities and prevent abuse of authority.

“Naging organized crime syndicate na sa loob ng BFP ang ginawa ng iilan. Iyan ang binubuwag natin ngayon bilang bahagi ng reporma,”Remulla said.

He explained that the ongoing probe follows the same reform-driven approach previously implemented in the Philippine National Police (PNP), where internal cleansing efforts focused on dismantling organized criminal elements while preserving institutional stability and professionalism.

Case build-up

The DILG chief said nearly 40 fire personnel, including some already retired from service, are being linked to corruption-related activities that allegedly spanned several years. Once the case build-up is completed, appropriate cases will be filed before the Office of the Ombudsman.

Remulla noted that the alleged corruption is rooted in weaknesses in the BFP’s bids and awards process, particularly the limited number of suppliers involved in the procurement of fire assets over an extended period. He said these findings highlight the need to strengthen systems, processes, and safeguards to ensure transparency and fair competition.

To address these issues, Remulla vowed to reinforce and clean up the bids and awards committee as part of broader institutional reforms aimed at improving accountability in the procurement of government assets and services.

Restoring trust

HE also called on BFP personnel to support the reform process, stressing that cooperation is essential to restoring trust and strengthening the organization.

“Hindi ako galit sa inyo. Galit ako sa korapsyon,” Remulla said. “Ang tinatama natin ay iyong mga maling sistema at ang iilan na pinagsamantalahanangkanilangposisyon.”

“I am only working for the integrity of the institution, not to besmirch anyone’s personality,” he added.

Remulla emphasized that the overwhelming majority of BFP personnel remain honest and committed public servants, noting that around 99 percent of the agency’s roughly 40,000 fire personnel are not involved in the alleged anomaly.

“These reforms are necessary to protect the institution, support our firefighters who serve with integrity, and ensure that public trust in the BFP is strengthened through accountability,” Remulla said. Jonathan L. Mayuga

Malacañang welcomes talks with Zaldy Co as fugitive ex-solon sends ‘surrender feelers’

PHL law seen shaping oversight, compliance for chemical sector

By Bless Aubrey Ogerio

THE implementation of the Philippines’ Chemical Weap -

ons Prohibition Act is expected to broaden compliance and monitoring requirements for industries that handle chemicals, a chemist said.

Emily V. Castriciones of the Institute of Chemistry at the University of the Philippines-Diliman campus said the new law places attention on the entire life cycle of chemicals, from production and testing to disposal.

“As chemists, what we really do— if we think about it—is to be with a chemical from cradle to grave,” Castriciones said during a talk under the state university’s “College of Science Innovation” program.

“You do the synthesis, you do the testing, whether it’s a raw material or a finished product like a drug, even up to its proper disposal as chemical waste, you are still monitoring its presence in the waste streams and in the environment,” she added.

Castriciones, who also serves as an analytical chemist inspector for the Organisation for the Prohibition of Chemical Weapons (OPCW), said chemical regulation extends beyond laboratories and factories and requires close coordination with government monitoring and enforcement agencies.

“But let’s not forget our law enforcement,” she said, noting that the Philippine Drug Enforcement Agency and the Philippine National Police have forensic labs.

“Through our project with DOST, we are collaborating with the PNP forensic lab and the Bureau of Fire Protection.”

Recordkeeping, documentation and compliance processes will be central to enforcing the law, she said, particularly for companies involved in chemical manufacturing, research, distribution and waste management.

For Castriciones, the effectiveness of the new legal framework will depend on stakeholder participation, especially during the review and drafting of implementing rules and regulations.

She added that collaboration between academic institutions and government agencies can help improve technical capacity and support

Govt opens school to train workers on AI, blockchain, other emerging technologies

THE Philippine Economic Zone Authority (PEZA) officially opened the country’s first government-led Artificial Intelligence (AI) Tech Academy in Mandaue City, Cebu in January.

Situated in the ETO Building, the academy will offer practical training in AI, data science, fintech, blockchain and other emerging technologies, targeting skills that align with industry demand.

“This flagship program aims to develop a strong pool of experts capable of supporting smart manufacturing, advanced services, and the modernization of ecozones nationwide,” PEZA said in a statement.

The authority plans to expand the program nationwide through agreements

with the Technical Education and Skills Development Authority, StackTrek and the IT and Business Process Association of the Philippines.

It is also in collaboration with local government units hosting ecozones, Knowledge, Innovation and Science Technology park developers, and universities.

The initiative is intended to complement the Philippine AI Program Framework, a national strategy that seeks to harness AI for economic growth, strengthen high-performance computing, and support research and workforce development while emphasizing ethical AI practices.

PEZA-registered workers can enroll in the training at no cost. The agency said

the first batch of participants has already started courses.

StackTrek CEO Billy Yuen reiterated the company’s commitment to sustaining the academy, while Foundever Asia Inc. contributed IT infrastructure for the initial rollout.

CIB.O also expressed full backing for the program, with executive director Buddy Villasis noting, “We campaigned for maximized participation since its soft launch in the last quarter of last year.”

“For decades, PEZA has been a catalyst for industrialization, job generation, and export-led growth,” PEZA director general Tereso Panga said. “Today, we strengthen that role by ensuring our workers and locators are equipped with the skills demanded by the industries of tomorrow.”

research with direct applications to national security and regulatory enforcement.

International efforts to regulate hazardous substances have long aimed to prevent the harmful use of chemical, biological, radiological and nuclear materials while allowing peaceful and commercial applications.

These efforts date back to the 1925 Geneva Protocol and later treaties, including the Chemical Weapons Convention.

In the Philippines, this global framework gained domestic legal footing in April 2025, when President Ferdinand R. Marcos Jr. signed Republic Act 12174, or the Chemical Weapons Prohibitions Act of the Philippines.

The launch, originally scheduled for the third quarter of 2025, experienced multiple delays.

In December last year, Science Secretary Renato Solidum Jr. described the country as “above the middle” globally, noting improvements in computing capacity and talent development.

A 2025 UNESCO Philippines AI Readiness Report also identified challenges, including weak digital infrastructure, fragmented policymaking, regulatory gaps, bureaucratic delays and inconsistent public-private coordination.

Still, international projections show growth potential. UNESCO estimated the Philippine AI market at $772.1 million in 2024, with an expected annual growth of 28.6 percent, reaching nearly $3.5 billion by 2030.

The country also rose to 56th place in the 2024 Government AI Readiness Index by Oxford Insights, up from 65th the previous year. Bless Aubrey Ogerio

DTI reviews price adjustments for 19 basic goods

MOST basic goods prices remain steady, while price adjustment requests for 19 items are under review, according to the Department of Trade and Industry (DTI).

Out of 205 stock-keeping units (SKUs) under the basic necessities and prime commodities list, 186, or roughly 91 percent, have not seen any price changes, including canned sardines, instant noodles, laundry soap, candles, bread, toilet soap and batteries.

Trade Secretary Cristina A. Roque said the department continues to balance consumer protection with the realities

faced by manufacturers.

“Through regular price monitoring and open dialogue with manufacturers, the agency helps ensure that any price adjustments are fair and properly justified,” Roque said.

“At the same time, it provides consumers with timely guidance to support informed choices, while encouraging businesses to uphold ethical and competitive pricing practices,” she added.

Manufacturers were asked last year to hold off on price increases until the end of December, and most complied, the trade department said.

The remaining SKUs are items for which

manufacturers have submitted requests for price adjustments. These are currently being carefully evaluated by DTI to ensure that any potential increases are ‘justified, reasonable and aligned with regulations.’

Price stability, the agency noted, has persisted despite rising costs for raw materials, packaging, logistics and tollpacking, thanks to industry cooperation.

Manufacturers that maintained their prices include Universal Canning Inc., Maunlad Canning Inc., Uptrade Resource Corp., Chattra Enterprise, Permex Producer & Exporter Corp., Aquatic Food and Manufacturing, Slord Development Corp., Tosen Foods Inc., Zest-O Corp., Uni-President Corp., Monde

Nissin Corp., Philbaking, Wellmade Manufacturing Corp., Unilever Philippines Inc., Peerless Product Manufacturing Co., P&G Philippines Inc., Vayao Wax Manufacturing, Manila Wax, Singkee Enterprises, Sevilla Candles, Green Cross Inc., Colgate-Palmolive Philippines Inc., Energizer, LTH Food Industries Inc., Snow Mountain Dairy Corp., Commonwealth Foods, CDO Foodsphere, Virginia Foods, Nutri Asia, Asia Brewery, Inc., JG Summit Holdings, Inc., Philippine Spring Water Resources, Inc., Robinsons, Billie’s Marketing, and Eccossential Foods Corp.

The DTI said it will provide updates once the evaluation of the remaining SKUs is complete. Bless Aubrey Ogerio

Govt

OKs ₧800 monthly pay hike for kasambahays

By Mary Jade Gale Jadormio

DOMESTIC workers in the National Capital Region (NCR) are set to receive a P800 increase in their monthly minimum wage following the approval of a new wage order by the Regional Tripartite Wages and Productivity Board-NCR.

Under the agency’s Wage Order NCRDW-06, the minimum monthly wage of kasambahays in the region will increase from P7,000 to P7,800. According to the board, its members approved the adjustment “to provide additional income support to domestic workers amid persistent cost-of-living pressures in the capital region.”

The Board initiated the wage determination process “motu proprio,” citing the need to reassess wage levels in light of prevailing economic and social conditions.

Deliberations involved the board’s tripartite members representing labor, employers, and the government, in line with established wage-setting mechanisms.

According to the board, its review took

DAVAO CITY–Two Party-list groups jointly filed a resolution in the House of Representatives seeking the renewal of the franchise of its member cooperative in the Davao area.

The resolution comes after Congress already granted the franchise to a private distribution utility when the local government chief executives in two provinces and two cities wanted the cooperative out for alleged inefficient delivery of service.

The consumer group Davao Consumer Movement (DCM) posted a report about the filing of House Bill (HB) 7006 seeking to renew the franchise of the Northern Davao Electric Cooperative (Nordeco). HB 7006 was filed by Association of Philippine Electric Cooperatives (Apec) Partylist Rep. Sergio C. Dagooc and Philippine Rural Electric Cooperatives Association Inc. (Philreca)

Partylist Rep. Presley C. de Jesus.

B usinessmirror could not immediately confirm such filing as the Nordeco has repeatedly declined the request of this newspaper for confirmation of several previous issues hurled against them by the DCM and the gripes by government chief executives and business leaders.

The DCM said the bill “is tone deaf to the overwhelming clamor of the people of Davao del Norte and Davao de Oro.”

The filing of HB 7006 is seen as a move to amend Republic Act 121444, which Congress enacted in April to grant the Aboitiz-owned Davao Light and Power Co. (DLPC) the extended holder of the franchise for the 11 municipalities and two cities of Davao del Norte and the 11 municipalities

AFILIPINO-owned pharmaceutical company is investing P1.2 billion to build an export-oriented manufacturing facility in Tarlac, according to the Philippine Economic Zone Authority (Peza). A statement issued by the Peza last Wednesday read that Zen LifeSciences Inc. signed its registration agreement on

into account inflation trends, household employment conditions, and the basic needs of domestic workers and their families.

As part of the process, the board said it conducted a survey of kasambahays in the country’s largest metropolitan area to gather data on wages, working arrangements and living expenses.

A focus group discussion with domestic workers was also held to capture sectorspecific concerns and on-the-ground realities.

The board said the wage increase is consistent with the objectives of the Kasambahay law, or Republic Act 10361, which aims to strengthen labor protection for household workers. The board clarified that the new minimum wage will take effect 15 days after its complete publication in a newspaper of general circulation.

Based on the schedule, the wage order is set to become effective on February 7, 2026. The agency reminded household employers to comply with the new wage rate and urged domestic workers to remain informed of their rights under existing labor regulations.

of Davao de Oro.

RA 121444 was passed by the Lower House on December 10, 2024, and amended by the Senate of the Philippines on February 3, 2025. Members of the House of Representatives concurred with the amendments on February 4, 2025. It lapsed into law on April 6 last year without the signature of President Ferdinand R. Marcos Jr. who previously vetoed the bill. The law practically granted the franchise to the DLPC for the entire Davao del Norte and Davao de Oro provinces, which were then under Nordeco franchise.

DLPC Chief Operations Officer Enriczar T. Tia earlier said that the company was already installing the necessary facilities and electric poles to the various towns in Davao del Norte ready to be energized soon. These include the digital substation and warehouse stockyard in Tagum City and the initial erection of 45 electrical distribution poles in Barangay Pagasa of Kapalong town.

Tia said the backbone of the power infrastructure will still rest with the existing infrastructure established and erected by the Nordeco, which acknowledged that it received the DLPC’s invitation to constitute immediately the joint transition body. The latter would have facilitated the negotiation to acquire the Nordeco facilities. On December 12 last year, the Energy Regulatory Board granted DLPC the “Certificate of Certificate of Public Convenience and Necessity,” which granted Davao Light the provisional approval to connect customers and collect payments for its service, subject to final approval by the commission. Manuel T. Cayon

January 19. By doing so, the firm officially became a new export enterprise at the Luisita Industrial Park Special Economic Zone that will produce pharmaceutical products for medical, wellness and general healthcare use.

MMDA GM Torre to retire from PNP, clearing path for Nartatez as police chief

By Samuel P. Medenilla

@sam_medenilla

METROPOLITAN Manila Development Authority (MMDA) General Manager

quishing his position in PNP.

Palace Press Officer Claire Castro made the announcement shortly after Torre told reporter last Thursday morning that he has yet to file a retirement application as a four-star general of PNP.

Torre maintained he can serve as a member of the Cabinet without relin -

Nicolas D. Torre has finally agreed to retire from the Philippine National Police (PNP), paving the way for his successor Jose Nartatez Jr. to assume the leadership of the country’s police force, according to Malacañang.

Group rebuts Isko Moreno’s defense of garbage fee hike

THE attempt to justify a city ordinance that increases the garbage collection fee in Manila, the country’s capital, continues to draw criticism.

An alliance of environmental advocates said Manila Mayor Francisco “Isko Moreno” Domagoso fails to address its fundamental legal and policy defects, Manila AntiIncinerator Alliance (MAIA), a newly formed alliance of environmental groups, said. Under the new ordinance, fees are calculated based on the specific industry and estimated waste output of a business. Gempis noted that establishments generating higher volumes of trash will incur higher fees. The increase, approximately 1,200 percent, drastically increase garbage fee that affects commercial establishments. Some commercial establishments now pay P30,000 or more per quarter. For example, a 100-square-meter restaurant in Manila now pays approximately P36,000 annually, compared to much lower rates in neighboring cities.

Domagoso’s justification

DOMAGOSO, in a Facebook post on January 19, called for public understanding and explained the decision to impose a higher garbage fee.

He said the new schedule of fees is but a minor adjustment to address and sustain the solution to the looming garbage problem in Manila, citing the problem his administration inherited from the failure of his predecessor, erstwhile ally Honey Lacuna, who left with a huge debt amounting to P950 million.

According to Domagoso, an MMDA waste study revealed that in 2015, every person in Manila is producing .6 kilos per day. In less than 10 years, this average waste production per person almost doubled to .9 kilos per day.

Manila, he said, has a population of over 1.9 million. However, the population in Manila rises to 3 million during the day because of its status as the center of commerce and education. Daytime garbage production is estimated at 637,000 metric tons.

Another factor considered in imposing a new garbage fee, Domagoso said, is the skyrocketing price of fuel. From 2013 to 2026, the price of fuel increased by roughly P16 to P17 per liter, directly increasing expenses for garbage hauling, fleet operations, and continuous collection.

In responding to public criticism, the city framed the ordinance as cost-based and lawful.

Unreasonable, unfair

IN a statement, MAIA said that on its face, Manila City Ordinance No. 9151 does not meet the basic requirements for a valid regulatory fee.

“The Local Government Code requires that

local fees be fair, reasonable, consistent with public policy, and within what people can realistically afford. It also limits garbagerelated fees to the management of nonrecyclable and special wastes. The ordinance, however, does not clearly identify what types of waste are being charged, nor does it explain how the fees were computed. Without these details, there is no way for the public to assess whether the charges are proportionate or justified,” the group said. Responding to criticisms, small and medium entrepreneurs, Domagoso explained in a video released by his office how affordable the fees are, which earned the ire of netizens.

One citizen commented on social media: “Yung explanation sobrang patawa, may peranamandawmganegosyante,P10per day daw per employee at araw araw daw yun garbage collection, peroyunordinance per square meter yun computation atlagpas lagpasdinsaP10perday,tsakayunsingilng garbage collector hindi naman per person kundi kada hakot, at araw araw din naman hinahakot basura in other cities perohindi naman ganyan kagrabe yun singil.”

Lacking clarity

MAIA said this lack of clarity mirrors the defect identified by the Supreme Court in Ferrer Jr. v. Quezon City. In that case, the Court ruled that garbage fees are invalid when they lack a clear basis and computation. The city’s argument that Ferrer applies only to households and not to businesses misses the point of the ruling.

“The Supreme Court was clear that what matters is not who pays, but whether the fee is directly tied to a specific regulatory service,” said Lawyer Zelda Soriano, Founder and Executive Director, Community Legal Help and Public Interest Centre (C-HELP), which is supporting the Manila Anti-Incinerator Alliance.

“Any garbage fee, whether imposed on households or businesses, must correspond to an actual service rendered and cannot be used as a disguised tax or revenue-generating measure,” Soriano said.

‘Inconsistent’ with RA 9003

Moreover, MAIA said that the alleged misalignment raises serious questions about compliance with Republic Act No. 9003, the Ecological Solid Waste Management Act. The law prioritizes waste reduction, reuse, recycling, and composting. It also bans incineration. MAiA warned that Manila’s continued reliance on hauling and its push for waste-to-energy incineration run counter to both the spirit and intent of the law.

See “Garbage fee,” A9

Castro, however, said Torre can only become an official of MMDA after his retirement from PNP.

“He accepted [retirement] because he accepted this position [in MMDA]. He knew what could happen and again, the only thing that would happen is that he would receive benefits, full benefits and all

emoluments as a four-star general,” she said in Filipino in a press briefing last Thursday.

She also said the plan of Torre to seek clarification on his status from the National Police Commission (NAPOLCOM) and from President Ferdinand Marcos will no longer be pushed through.

“If there was any misunderstand -

ing, it’s been clarified,” the Presidential Communications Office undersecretary said.

Torre was unceremoniously removed as head of PNP last August after he refused to comply with orders from NAPOLCOM to reassign key police officials.

Nartatez replaced Torre as head of PNP, but only in an acting capacity since he was still only a three-star lieutenant general. Under PNP law, there can only be one four-general, who will serve as PNP chief, at any given time. Castro said the Palace is open to studying a possible revision in the PNP law to prevent a scenario of what is happening between Torre and Nartatez, in the future.

PHL lifts ban on Grok AI after content safety overhaul

THE Philippines has lifted its ban on Grok, the artificial intelligence (AI) platform of X, after the company implemented safeguards to prevent the generation and distribution of child pornography and other harmful content on the social media app.

Cybercrime Investigation and Coordinating Center (CICC) Executive Director Renato Paraiso said Thursday that the government agreed to

unblock Grok following a meeting with X AI, formerly Twitter, executives on Wednesday. “Yesterday…we talked with executives of X AI. They explained the safeguards that they have put in place to prevent content generation and uploading violative contents on the sites,” Paraiso said in a press briefing on Thursday.

The features that allowed the creation of child pornography are no longer available in

Grok, Paraiso said. General content creation features remain accessible to premium users, minus the ability to generate child pornographic material.

THE Philippines must abandon “election-cycle thinking” in favor of a long-term strategy for sovereignty and development as regional tensions and domestic economic pressures rise, warns a major think tank leader.

The Philippines can no longer afford to govern from one political cycle to the next as global uncertainty deepens and regional tensions intensify, according to Politika Beyond 2028, a new book by the Stratbase Group.

“The Philippines can no longer afford short-term thinking,” Victor Andres Manhit, Stratbase Group founder and CEO said. “In a world shaped by economic volatility, geopolitical tension, and security threats, we need resilience, good governance, and strategic clarity.”

According to Manhit, the book draws a strategic roadmap aimed at strengthening national resilience, safeguarding sovereignty, and guiding policymaking beyond electoral timelines, as the country confronts economic shocks, governance challenges, and mounting security risks in the Indo-Pacific.

Organized around themes of resilient growth, inclusive governance, and geostrategic thinking, Politika Beyond 2028 examines how economic vulnerability, weak institutions, and external pressures intersect to threaten national stability. It argues that economic strength and governance reform must advance together if the country is to remain competitive and secure.

Paraiso added that the government will continue to monitor the company’s compliance with its commitments and has established a “green lane” with the company to immediately take down violative content.

“The possibility of being blocked is still there,” he emphasized. Lorenz S. Marasigan

Grok was blocked for less than a week in the Philippines. The government ordered the temporary ban following, after the AI was found to have the capability to create sexually suggestive images of real people. Users are able to generate these images simply by tagging Grok to an existing picture and prompting it to create a sexual version of it.

PHL must ditch ‘election-cycle thinking’ for long-term security, Stratbase warns

“Economic security and good governance are inseparable,” Manhit said. Resilient growth requires accountable institutions, transparent leadership, and policies that protect public trust while creating real opportunities for Filipinos.” Manhit pointed out that the book also highlights the Philippines’ strategic location in the Indo-Pacific, warning that escalating regional tensions—particularly in the West Philippine Sea—underscore the need for clearer geostrategic direction and stronger cooperation with like-minded partners.

“Geostrategic thinking is critical in navigating the rising tensions and external pressures,” Manhit said. “The Philippines must be clear-eyed in defending its interests, strengthening cooperation with trusted partners, and standing firm on peace, stability, and the rule of law.” Described as both a policy guide and a call to action, the book urges leaders to plan beyond electoral cycles and prepare for long-term risks rather than respond to crises as they emerge. The book underscored the country to be forward-looking. “This is about readiness,” Manhit said. “Readiness to confront uncertainty, to protect what matters and to ensure the Philippines not only endures—but leads—in a rapidly changing world.”The book delivers a stark warning: a lack of long-term planning leaves the Philippines vulnerable to evolving geopolitical threats to its national security over the coming decade, Manhit emphasized. Rizal Raoul Reyes

21 year-old Russian arrested for posting videos threatening to spread HIV in the Philippines

THE Bureau of Immigration confirmed the arrest of a 21-year-old Russian vlogger on Thursday who went viral on social media for threatening to deliberately spread HIV while in the Philippines.

BI Commissioner Joel Anthony Viado identified the foreign national as Nikita Chekhov, who was arrested on Wednesday inside a condominium building in Quezon City.

among residents and online users.

S hortly after his arrival, Chekhov uploaded videos filmed in Bonifacio High Street in Taguig, where he made alarming claims that he intended to spread HIV during his stay in the Philippines.

The videos believed to be made as “rage bait” content sparked outrage and concern

Based on the agency’s records, Chekhov, a native of Taganrog, Rostov Oblast, Russia, arrived in the country as a tourist on January 15.

AREGIONAL trial court has ordered the arrest of protesters blocking a road used by mining firm Woogle Corp. in Nueva Vizcaya province, after defiant activists formed a human barricade to prevent the company from reaching its exploration site.

In an order dated Jan. 19, Nueva Vizcaya Regional Trial Court Branch 30 Presiding Judge Paul Attolba Jr directed court sheriffs and the Philippine National Police (PNP) to arrest anybody obstructing the Keon Barangay Road in Dupax del Norte.

It ordered the sheriffs and the PNP “to enforce the writ arrest, without need of further order from the court, any person who would refuse, resist, obstruct or defy the implementation of the writ, such arrest being necessary

to compel obedience to a lawful order of the court, prevent escalation of hostilities, and preserve public peace and order.”

The court said the measure was necessary to compel obedience to a lawful order and prevent the escalation of hostilities.

The decision follows a Jan. 6 preliminary injunction that prohibited Florentino Daynos and other defendants from maintaining barricades. While a physical gate was removed, court sheriffs reported that protesters subsequently formed a human chain, forcing a suspension of the initial enforcement due to rising tensions.

The protesters oppose mining activities in the area, citing environmental concerns.

A town known for its natural beauty, Dupax del Norte, a 3rd-class municipality

“ These so-called rage bait videos irresponsibly cause fear and paning among the public,” Viado said.

“F oreign nationals who come to the Philippines to spread alarm, disrespect our people, or abuse our hospitality are not welcome and will face deportation,” he added.

The Russian national has been detained at the BI’s detention facility pending deportation proceedings.

with 15 barangays, is also a mineral-rich area with huge economic potential through mining, particularly through gold and copper mining.

The DENR-MGB granted Woggle Corporation, an affiliate of FCF Minerals Corporation, an exploration license for 3,100-hectares in Dupax del Norte in August 2025, targeting gold and copper deposits.

Attolba said the formation of a human barricade was a patent act of disobedience and a clear circumvention of the court’s authority.

He said a writ of preliminary injunction is a command that should be obeyed fully rather than a suggestion, and that defying such orders brings the administration of justice into disrepute.

His arrest came just days after the deportation of Russian vlogger Vitaly Zdorovetskiy for committing undesirable acts in Global City, and the arrest of Estonian Youtuber Siim Roosipuu, who was declared persona non grata in Dumaguete City for posting disrespectful content involving minors. Joel R. San Juan

It said the formation of a human barricade after the removal of the physical obstruction is a clear circumvention of the writ and a patent act of disobedience. The legal dispute centers on the application of the Philippine Mining Act. The court reached its decision based on existing records and pleadings, determining that a trial on disputed facts was not required to issue the order.

The court authorized the Philippine National Police to institute criminal proceedings against those who continue to defy the writ. Jonathan L. Mayuga

“Any act intended to thwart, defeat, or render inutile the lawful orders of the Court constitutes defiance of judicial authority and tends to bring the administration of justice into disrepute,” the court said.

As US seeks peace deal, Israeli attacks kill 11 in Gaza, highlighting fragile truce

By Samy Magdy The Associated Press

CAIRO—Israeli forces on Wednesday killed at least 11 Palestinians in Gaza, including two 13-year-old boys, three journalists and a woman, hospitals said, on one of the war-battered enclave’s deadliest days since the ceasefire between Hamas and Israel took effect in October.

The United States is trying to push the deal forward and implement its challenging second phase.

Among the dead were three Palestinian journalists who were killed while filming near a displacement camp in central Gaza, a camp official said. Israel’s military said it had spotted suspects who were operating a drone that posed a threat to its troops.

The two boys were killed in separate incidents. In one, a 13-year-old, his father and a 22-year-old man were hit by Israeli drones on the eastern side of the Bureij refugee camp, according to officials from Al-Aqsa Martyrs Hospital in the central town of Deir al-Balah, which received the bodies.

It wasn’t immediately clear wheth -

er the three had crossed into Israelicontrolled areas.

A mounting death toll THE other 13-year-old was shot by troops in the eastern town of Bani Suheila, Nasser Hospital said after receiving the body. In a video circulated online, the father of Moatsem al-Sharafy is seen weeping over it.

The boy’s mother, Safaa al-Sharafy, told The Associated Press that he had left to gather firewood so she could cook.

“He went out in the morning, hungry,” she said, tears running down her cheeks. “He told me he’d go quickly and come back.”

Later Wednesday, an Israeli strike

hit a vehicle carrying the three Palestinian journalists who were filming a new displacement camp managed by an Egyptian government committee in the Netzarim area, said Mohammed Mansour, the committee’s spokesperson.

Mansour said the journalists were documenting the committee’s work and that the strike occurred about 5 kilometers (3 miles) from the Israelicontrolled area. He said the vehicle was known to Israel’s military as belonging to the committee. Video footage showed the charred and smoking vehicle by the roadside.

One journalist killed, Abdul Raouf

Shaat, was a regular contributor to Agence France-Presse but he was not on assignment for it at the time, the news agency said.

“Abdul was much loved by the AFP team covering Gaza. They remember him as a kind-hearted colleague,” the agency said in a statement that demanded a full investigation into his death.

According to the Committee to Protect Journalists, more than 200 Palestinian journalists and media workers have been killed in Gaza since the war began in 2023, including visual journalist Mariam Dagga, who worked for the AP and other news organizations.

Nearly five months after the strikes on a hospital that killed Dagga and four other journalists, the Israeli military says it is continuing to investigate.

Aside from rare guided tours, Israel has barred international journalists from entering to cover the war. News organizations rely largely on Palestinian journalists in Gaza—as well as residents—to show what is happening.

Nasser Hospital officials also said Wednesday they received the body of a Palestinian woman shot by Israeli troops in the Muwasi area of the southern city of Khan Younis, which is not controlled by the military.

In a separate attack, three brothers were killed in a tank shelling in the Bureij camp, according to Al-Aqsa Martyrs hospital.

More than 470 Palestinians have been killed by Israeli fire since the ceasefire took effect on Oct. 10, according to Gaza’s health ministry. At least 77 have been killed by Israeli gunfire near a ceasefire line that splits the territory between Israeli-held areas and most of Gaza’s Palestinian population, the ministry says.

The ministry, which is part of the Hamas-led government, maintains detailed casualty records that are seen as generally reliable by U.N. agencies and independent experts.

A mother’s plea

THE first phase of the October ceasefire that paused two years of war between Israel and Hamas militants focused on the return of all remaining hostages in exchange for the release of hundreds of Palestinian detainees and a partial withdrawal of Israeli forces in Gaza.

All but one hostage, living or dead, have been returned to Israel. Ran Gvili, a 24-year-old police officer known as Rani, was killed while fighting Hamas militants during the Oct. 7, 2023 attack that started the war.

His relatives on Wednesday called again on Israel’s government and US President Donald Trump to ensure the release of his remains.

“We need to continue to amplify Rani’s voice, explain about him, talk about him, and explain to the world that we, the people of Israel, will not give up on anyone,” his mother, Talik Gvili, said. She told the AP the family doesn’t “really know where he is.”

Hamas said Wednesday it has provided “all information” it has on Gvili’s body to the ceasefire mediators, and accused Israel of obstructing search efforts in areas it controls in Gaza.

See “Israeli,” A8

Trump abandons tariff threat after reaching ‘framework’ on Greenland

By Hadriana Lowenkron & Sara Sjolin

PRESIDENT Donald Trump said he would refrain from imposing tariffs on goods from European nations opposing his effort to take possession of Greenland, citing a “framework of a future deal” he said was reached regarding the island.

The decision, which Trump announced Wednesday on social media, marks a stark reversal for a president who has repeatedly attempted to coerce Europe over Greenland. It came after a meeting with North Atlantic Treaty Organization Secretary General Mark Rutte at the World Economic Forum in Davos, Switzerland.

Still, Trump did not detail the parameters of the so-called “framework” and it was unclear what the agreement entails, especially since Denmark earlier Wednesday ruled out negotiations over ceding the semi-autonomous island to the US.

“We have formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region,” Trump posted. “This solution, if consummated, will be a great one for the United States of America, and all NATO Nations. Based upon this understanding, I will not be imposing the Tariffs that were scheduled to go into effect on February 1st.” US stocks jumped on the news that tariffs wouldn’t be implemented, with the S&P 500 and Nasdaq 100 rallying to session highs. Treasuries extended gains, and the Bloomberg Dollar Index rose to a daily high.

Danish Foreign Minister Lars Lokke Rasmussen welcomed the latest developments, saying in a Wednesday interview with local broadcaster DR that “the day ends better than it started.” Rasmussen, however, added that it’s obvious that Trump has not given up on his ambition to gain control of Greenland, which is still “a red line for the Kingdom of Denmark.”

Trump told reporters after his post that he would release the specifics of the agreement shortly. He declined to answer when asked if it grants US ownership of Greenland, saying “it’s a long-term deal. It’s the ultimate long-term deal, and I think it puts everybody in a real good position.” He said it would last for an “infinite” period of time.

Axios reported the framework includes the principle of respecting Denmark’s sovereignty over Greenland. The New York Times separately reported that top military officers from NATO nations on Wednesday discussed the idea that the US might gain control over small portions of land in Greenland, though the Times said it wasn’t known whether that idea was included in the framework.

In an interview with CNBC, Trump said he had not spoken directly with officials in Denmark about his “concepts of a plan” for Greenland, but added that he assumed Rutte had briefed leaders there. He also said the US would be “involved” in Greenland’s mineral rights, without elaborating.  Rutte, in an interview with Fox News, said they did not discuss whether Greenland would remain under Danish control as part of the agreement. Instead, he said, the focus of their discussion was ensuring NATO protection of the Arctic region, energy production, and missile defense.

“We both agreed, when you look at NATO and what NATO collectively can do to make sure that the whole Arctic region is safe, including Greenland, to work on that part,” Rutte said. “It will be—there’s a lot of work to be done.”

The US president said there would be additional discussions on the Golden Dome missile-defense system, which he cited in justifying his pursuit of Greenland. Vice President JD Vance, Secretary of State Marco Rubio, Special Envoy Steve Witkoff and “various others” will be responsible for negotiations, Trump added in his post.

“Negotiations between Denmark, Greenland, and the United States will go forward aimed at ensuring that Russia and China never gain a foothold—economically or militarily—in Greenland,” a NATO spokesperson said in a statement after the Trump-Rutte meeting, adding that discussions “will focus on ensuring Arctic security through the collective efforts of Allies, especially the seven Arctic Allies.”

Trump’s brinkmanship over Greenland touched off a diplomatic crisis with Europe and spooked financial markets. A day earlier, stocks and the dollar fell before the president’s climb-down.

The European Parliament froze ratification of the European Union’s

trade agreement with the US in response to Trump’s escalating threats. On Saturday, Trump said he would impose tariffs of 10% on goods from eight European countries on Feb. 1 unless a deal was reached for the purchase of Greenland, with the rate increasing to 25% on June 1 if an agreement was not made by then.

While the Greenland crisis may be defused for now, the famously mercurial president could spark tensions again in the future.

In a speech at Davos earlier Wednesday, Trump

ruled out the use of military force to take control of the island. But he still used menacing language to describe what would happen if Europe did not meet his demands.

“You can say yes, and we will be very appreciative, or you can say no, and we will remember,” the president said.

He also bristled at earlier comments from Rasmussen, who said that his nation “will not enter into any negotiations on the basis of giving up fun -

damental principles.”

“If he wants to tell me, he’ll tell me that to my face,” Trump said of Rasmussen, when asked during a meeting with the NATO chief about the remarks.

Trump’s aggressive play for Greenland nonetheless may have inflicted lasting damage on ties between the US and its traditional allies. It comes after a year in which he raised tariffs on longtime trading partners, reduced support for Ukraine in its defense against Russia and struck blows against international institutions.

Canadian Prime Minister Mark Carney declared during his Davos speech that recent events have shown the “rules-based international order” is effectively dead, and that other countries must forge new partnerships to withstand pressure tactics from great powers. French President Emmanuel Macron said Trump’s trade strategy is meant to “weaken and subordinate Europe.” Belgian Prime Minister Bart de Wever said he no longer considers the US an ally.

Trump’s designs on Greenland cast a cloud over the annual gathering of the world’s business elite in Davos. Before his arrival, senior US officials there talked down the chances of confrontation over the island.

Treasury Secretary Scott Bessent encouraged US allies enraged by Trump’s threats to “sit back” and “take a deep breath,” avoiding retaliation. Commerce Secretary Howard Lutnick foreshadowed the retreat during a Davos panel, telling the assembled world leaders and business titans that the situation was “going to end in a reasonable manner.”

With assistance from Derek Wallbank, Andrea Palasciano, Jennifer A. Dlouhy and Romy Varghese/Bloomberg

Cambodia will send 73 online scam suspects to South Korea

By Hyung-Jin Kim The Associated Press

SEOUL, South Korea—Dozens of South Koreans detained in Cambodia for alleged involvement in online scams will be sent home this week to face investigations, officials said Thursday, in what would be the largest group repatriation of Korean criminal suspects from abroad.

The 73 South Korean suspects allegedly scammed fellow Koreans out of 48.6 billion won ($33 million), according to a South Korean government statement.

The suspects, 65 men and eight women, were among about 260 South Koreans detained in a crackdown in Cambodia in recent months. Public outrage over scam centers in Southeast Asia flared in South Korea when a Korean student was found dead last summer after reportedly being forced to work at a scam compound in Cambodia.

Authorities said at the time he died after being tortured and beaten, and South Korea sent a government delegation to Cambodia in October for

talks on a joint response. South Korea will send a chartered plane to Cambodia, which is scheduled to return Friday with the suspects who will be immediately handed over to investigative authorities upon arrival, according to the statement.

The suspects include a couple who allegedly operated a deepfake romance scam to dupe 12 billion won ($8.2 million) from about 100 people in fraudulent investment schemes. South Korea has made various efforts to bring them back home, including more than 10 rounds of video meetings with Cambodian officials, the Justice Ministry said in a statement.

Cybercrime has flourished in Southeast Asia, particularly in Cam -

bodia and Myanmar, as trafficked foreign nationals were employed to run romance and cryptocurrency scams, often after being recruited with false job offers and then forced to work in conditions of near-slavery. According to estimates from the U.N. Office on Drugs and Crime, scam victims worldwide lost between $18 billion and $37 billion in 2023.

In January, Cambodia said it had arrested and extradited to China a tycoon accused of running a huge online scam operation.

Since October, about 130 South Korean scam suspects from Cambodia as well as more than 20 such Korean

suspects from Laos, Vietnam, Thailand and the Philippines have been sent back home. After Friday’s repatriation, about 60 South Koreans will remain detained in Cambodia awaiting repatriation, according to police.

South Korean officials said in October that about 1,000 South Koreans were estimated to be in scam centers in Cambodia. Some are believed to be forced laborers.

On Thursday, South Korean President Lee Jae Myung called for stern responses to transnational cybercrimes that he said erodes mutual trust in society and triggers diplomatic disputes with other countries.

Campaigning starts for Bangladesh’s first national election after Hasina’s ouster

DBy Julhas Alam The Associated Press

HAKA, Bangladesh—Campaigning began Thursday for Bangladesh’s first national elections since the 2024 uprising that ousted longtime Prime Minister Sheikh Hasina.

The major political parties held campaign rallies in the capital, Dhaka, and elsewhere ahead of Feb. 12 election, which is seen as the most consequential in Bangladesh’s history as it follows Hasina’s ouster and is being held under an interim government with voters also deciding on proposed political reforms.

The interim government led by Nobel Peace Prize laureate Muhammad Yunus has pledged to hold a free and fair election, but questions were raised after his administration banned Hasina’s former ruling Awami League party. The Awami League and the Bangladesh Nationalist Party have historically dominated the country’s electorate.

There are also concerns about the country’s law and order situation, but the government says they will keep the voting peaceful.

Yunus assumed office three days after Hasina left the country for India on Aug. 5, 2024, following the deaths of hundreds of protesters and others in a violent crackdown.

With the Awami League excluded from the election, a 10-party alliance led by Jamaat-eIslami, an Islamist party, is seeking to expand its influence. Jamaat-e-Islami has long faced criticism from secular groups who say its positions challenge Bangladesh’s secular foundations. A new party formed by student leaders of the uprising, the National Citizen Party, or NCP, is also part of the alliance.

Tarique Rahman, BNP chairman and the son of former Prime Minister Khaleda Zia, is widely seen as a leading contender for prime minister. His party has drawn strong support rooted in the political legacy of his mother, who died last month. Rahman returned to Bangladesh last month after 17 years in exile in the United Kingdom.

Rahman is launching his campaign in the northwestern city of Sylhet with an address to a rally later Thursday and is scheduled to visit several other districts in the coming days.

Jamaat-e-Islami and the NCP are set to begin their campaigns in the capital, Dhaka.

The election will also include a referendum on a national charter, with the interim government seeking campaigning for voters to support what it describes as a new political course built on reforms. The charter was signed last year by 25 of the country’s 52 registered political parties. The Awami League opposed the idea and several other parties declined to sign the document.

The July National Charter, named after the uprising that began in July 2024 and led to the fall of Hasina, is currently nonbinding, but the supporters of the charter say a referendum is needed to make it legally binding and a part of the constitution. Only Parliament can change the constitution in Bangladesh.

The interim government says the charter would bring more checks and balances to avoid authoritarian administrations, including by giving the presidency more authority to balance what had been a powerful prime minister position. It also proposes term limits for legislators, and measures to prevent conflicts of interest, money laundering and corruption.

2 Tiananmen vigil organizers plead not guilty in national security trial

By Kanis Leung The Associated Press

HONG KONG—Two organizers of Hong Kong’s long-running vigil commemorating the 1989 Tiananmen Square crackdown pleaded not guilty Thursday, while a third pleaded guilty before the trial brought under a national security law that has largely erased dissent in the city.

Chow Hang-tung, Lee Cheuk-yan and Albert Ho, former leaders of the Hong Kong Alliance in Support of Patriotic Democratic Movements of China, were charged with inciting subversion in September 2021 under the China-imposed national security law.

Prosecutors allege “ending one-party rule,” what the group had long called for, was against China’s constitution. Lee and Chow pleaded not guilty and a hearing for arguments over defense witnesses was scheduled to resume Friday. They face a maximum penalty of 10 years in prison. Ho entered a guilty plea and was convicted by Judge Alex Lee, who said the court will handle his plea for a lighter sentence after the trial, which is expected to last 75 days.

Trial arguments center on alliance’s call PROSECUTOR Ned Lai on Thursday said the alliance’s call meant ending the Chinese Communist Party’s leadership and that goal opposed the constitution.

Lai said the alliance promoted that call through different channels, including operating a museum about the 1989 crackdown and hosting activities.

The prosecutor said that after Hong Kong’s security law took effect, Ho stated he would press on with calls for “ending one-party rule” and “a democratic China.”

The trio of defendants, who were at the heart of the alliance’s work, “personally or through the alliance, declared they would persist with the relevant illegal goal of subverting state power and their actions,” Lai said.

In an opening statement that was published online, the prosecution alleged the Hong Kong alliance had promoted its position through discussion of the “June 4th incident,” referring to the Tiananmen crackdown, and negative content targeting the country, although specific plans or means to achieve their “unlawful” aim might not have been mentioned by the defendants.

Former pro-democracy district councilor Chan Kim-kam, a friend of Chow who attended past vigils, was

one of dozens of people who waited to get seats in the court’s public gallery.

“We need to witness this, regardless of the results,” she said. Tang Ngok-kwan, a former core member of the alliance, had been waiting since Monday afternoon.

“They use their freedom to exchange for a dignified defense,” he said. “It’s about being accountable to history.”

Trial raises concerns about free expression and civil society URANIA CHIU, lecturer in law at Oxford Brookes University, said the case goes to the heart of freedom of expression.

“The prosecution case hinges on the argument that the Alliance’s general call for ‘bringing the one-party rule to an end’ constitutes subversion, which amounts to criminalizing an idea, a political ideal that is very far from being actualized,” she said. Sarah Brooks, Amnesty International’s deputy regional director, alleged the case was about “rewriting history and punishing those who refuse to forget the victims of the Tiananmen crackdown.”

Hong Kong for decades had been the site of the only large-scale public commemoration of the 1989 crackdown in China. Tens of thousands of people attended the event annually until authorities banned it in 2020 because of Covid-19.

After Covid-19 restrictions were lifted, the park was occupied instead by a carnival organized by pro-Beijing groups. Those who tried to commemorate the event near the site were detained.

Before the alliance voted to disband in September 2021, police had sought details about the group, saying they had reasonable grounds to believe it was acting as a foreign agent. The alliance rejected the allegations and refused to cooperate.

Chow, Tang and another core member of the alliance were convicted in a separate case in 2023 for failing to provide authorities with information on the group and were each sentenced to 4 1/2 months in prison. But the trio overturned their convictions at the city’s top court in 2025. Beijing said the 2020 security law was necessary for the city’s stability following huge pro-democracy protests in 2019 that sent hundreds of thousands of people onto the streets. The same law has convicted dozens of other leading pro-democracy activists, including former media mogul Jimmy Lai in December. Dozens of civil society groups have closed since the law took effect.

www.businessmirror.com.ph

Sugar unions demand transparency, reforms amid price slump

By Justine Xyrah Garcia

THE National Congress of Unions in the Sugar Industry of the Philippines (NACUSIP) is pressing for sweeping changes in sugar policy and regulation, saying current decisions have weighed heavily on farmers, agrarian reform beneficiaries (ARBs), and industry workers.

In a manifesto on Thursday, the group said

Continued from A5

“This situation is a reflection of the city government’s failure to engage its constituents in policymaking, already missing in the WTE project in Smokey Mountain, and its disinterest in implementing the Ecological Solid Waste Management Act. We challenge the Manila City Government to make public its computations for this grossly unjust and anti-Manileño garbage fee increase.” Brex Arevalo, Climate and Anti-Incineration Campaigner of the Global Alliance for Incinerator Alternatives (GAIA) Asia Pacific, and a co-convenor of MAIA said.

Arevalo said the pronouncements of Mayor Moreno are inadequate and leave many basic questions unanswered: why the sudden increase; why were businesses not consulted; were computations verified; what specific services will this be used for?

“Relatedly, we fear that the added fees would be used for the proposed WTE incinerator in Smokey Mountain, an illegal and high-polluting facility that would need hefty government subsidies to construct and operate,” he said.

persistently low mill-gate prices have eroded farm incomes and pushed small producers into deeper debt. It blamed what it called “reckless overimportation” and weak regulation for worsening domestic supply conditions, arguing that these policies have left farmers with little choice but to harvest early and sell at a loss.

The plummeting mill gate prices are a

MAIA also warned that the City’s waste policies violate the constitutional right to a balanced and healthy ecology. By favoring hauling and waste-to-energy schemes that require a constant supply of garbage, the ordinance risks encouraging more waste generation and exposing communities to environmental and health harms.

“We are alarmed by the vague cost breakdown and the dangerous precedent this sets for future waste-to-energy projects that may further burden residents by paying for hauling to bring tonnes of waste for burning in the plants. Addressing waste management cannot be passed to communities alone; the state must ensure transparency, protect livelihoods, and strengthen systems for ecological sustainability,” said Niña Estelle, Coordinator of Panatang Luntian, coconvenor of MAIA.

“We urge Mayor Moreno to address the city’s waste crisis through full implementation of RA 9003 with strong public participation. Until the ordinance is aligned with law, public policy, and constitutional protections, green groups maintain that Ordinance No. 9151 remains legally vulnerable and harmful to Manila’s people and environment.”

Jonathan L. Mayuga

death sentence for small farmers and ARBs, who are being forced to harvest early, sell at a loss, and drown in debt just to survive,” the group said.

A central demand is greater transparency from the Sugar Regulatory Administration, particularly in relation to Sugar Order No. 8, which authorized additional sugar imports.

NACUSIP called for the publication of Sugar Board minutes, saying “the Sugar Board has operated like a secretive club, hiding its decisions from the very people whose lives it controls.”

“So far, in the Philippines, we have experienced several earthquake swarms, but fortunately, no strong earthquakes followed,” he said in a mix of English and Filipino.

Phivolcs-monitored earthquake swarms before Sultan Kudarat, such as an event in

The Department of the Interior and Local Government (DILG) said Co was last spotted in Lisbon, Portugal after he refused to return due to the alleged threat to his life. This as he faces charges for malversation of public funds and graft charges for his alleged involvement in the P289.5-million road dike project anomaly in Oriental Mindoro.

Last Wednesday, DILG Secretary Juanito Victor “Jonvic” C. Remulla said Co has been sending “surrender feelers” to some of his Catholic priests friends, which was turned over to the Ombudsman. Samuel P. Medenilla

The group is seeking detailed disclosures on how much of the imported sugar was bottler-grade refined sugar, the “real, verifiable volume of sugar withdrawn by beverage manufacturers,” and how these compared with domestic inventories at the time.

Northern Cebu from September to October 2025, following a major magnitude 6.9 earthquake on September 30. Over 2,329 aftershocks occurred in Bogo City by early October.

Another event was in Isabela, Ifugao, Mountain Province, in June 2026. A warm event occurring near the borders of the three provinces.

NACUSIP also called for the removal of David Sanson from the SRA board, citing what it described as “record-low farm gate prices” and importation policies during his term that it said disadvantaged small planters and ARBs.

Beyond accountability, the group is pushing for amendments to the SRA charter under Executive Order No. 18, arguing that the current structure fails to reflect the industry’s composition.

It is seek ing board representation for small farmers, field and mill workers, ethanol producers, and consumer groups. The group also urged the government to adopt a sustainable sugar buying program to set a stable floor price and to immediately release emergency cash assistance to distressed ARBs, warning that further delays risk deepening losses across sugar-producing communities.

In Ragay, Camarines Sur, an earthquake swarm began in June 2023, with over 117 events recorded by August. The highest magnitude was 4.4, felt at Intensity V in Ragay.

Continued from A4

PEZA Director General Tereso O. Panga was quoted in the statement as saying that the registration of Zen LifeSciences is aligned with the government’s “thrust to strengthen the country’s pharmaceutical manufacturing capabilities and reduce reliance on imported medicines.”

According to the agency, the company eyes starting commercial operations in January 2027 and employ nearly a hundred workers.

Panga said he expects the company’s

There were also earthquake swarm events recorded in Surigao del Norte in 2019 and in Batangas in April 2017.

“Most of the earthquake swarms that happened before did not trigger a strong earthquake,” he said, allaying fears that the Sultan Kudarat swarm could trigger a stronger or deadlier earthquake.

facility would support both export manufacturing and local employment in Central Luzon.

“By locating in a Peza ecozone, this project will not only help ensure a stable supply of quality, locally made health products here and abroad, but also create meaningful employment and economic opportunities for communities in Tarlac and nearby areas,” he added.

The domestic pharmaceutical industry is projected to continue expanding in the coming years, according to the Board of Investments (BOI).

The BOI has estimated that the local pharmaceutical sector will grow at an annual

Nevertheless, Sevilla noted that Phivolcs issued an advisory on January 21, urging the public to prepare or be ready in case of a strong earthquake, which could

rate of 4.1 percent until 2029, driven largely by rising demand for generic medicines. It added that the industry’s expansion is supported by the ongoing implementation of the Integrated Roadmap for the Philippine Pharmaceutical Industry (IRPPI), which began in 2023. The Philippine pharmaceutical market is projected to generate nearly $2 billion in revenues for 2025. By 2030, the roadmap envisions a local pharmaceutical sector “with a value chain capable of supporting pharmaceutical security and improving health outcomes for Filipinos,” read a Peza-issued document.

Taking the sign down: Canada’s new doctrine of values-based realism

IN the rarefied air of Davos, where global elites often retreat into the comfortable vocabulary of “synergy” and “interconnectedness,” Canadian Prime Minister Mark Carney has delivered a cold splash of northern water. His address this week was not merely a policy update; it was a funeral oration for the post-Cold War era and a manifesto for a more muscular, honest, and strategically autonomous Canada.

By invoking Václav Havel’s “The Power of the Powerless,” Carney has signaled the end of what he calls “living within a lie.” For decades, middle powers like Canada have performed the rituals of a “rules-based international order,” placing the metaphorical sign of the greengrocer in the window—proclaiming a world governed by law while knowing full well that hegemons ignored those laws whenever they became inconvenient. Carney’s message is clear: the sign is coming down. The fiction of a stable, rule-bound world has been replaced by a “brutal reality” of great power rivalry and the weaponization of the global economy. The prime minister’s thesis—“values-based realism”—is a sophisticated pivot. It acknowledges that the old multilateralism is failing, yet it refuses to succumb to the nihilism of pure transactionalism. It is an attempt to navigate a “third path” between the fortresses of the great powers.

For too long, Canadian foreign policy has relied on the “comfortable assumptions” of geography and the protective umbrella of American hegemony. But as Carney noted, when integration becomes a source of subordination, the bargain no longer works. The “rupture” he describes—spanning finance, health, and energy—has laid bare a world where supply chains are no longer just logistics; they are leverage.

What makes this “Carney Doctrine” compelling is its grounding in domestic strength. Foreign policy is often treated as a separate sphere from domestic economics, but Carney correctly identifies that sovereignty is “anchored in the ability to withstand pressure.” His government’s commitment to accelerate a trillion dollars in energy, AI, and critical mineral investments—coupled with a plan to double defense spending—reveals a hard truth: for a middle power, principles are only sustainable when backed by strength. You cannot defend your values if you cannot feed your people, fuel your industry, or secure your borders.

However, the path Carney outlines is fraught with complexity. His “variable geometry”—forming different coalitions for different issues—is a pragmatic necessity, but it requires a delicate balancing act. Signing strategic partnerships with China and Qatar while simultaneously championing a “Coalition of the Willing” for Ukraine and integrating into European defense procurement (SAFE) shows a government willing to deal with the world “as it is.” Yet, the challenge will be maintaining moral clarity. How does one apply the “same standards to allies and rivals” when the economic stakes are so high?

The prime minister’s most potent warning was reserved for his fellow middle powers: “If you are not at the table, you are on the menu.” By advocating for a bridge between the Trans-Pacific Partnership and the EU, and forming “buyer’s clubs” for critical minerals, Canada is attempting to organize the “less powerful” into a collective force that cannot be easily coerced by any single hegemon or “hyperscaler.”

Critics will argue that this is a retreat from the idealism that has long defined Canada’s international identity. Many people will disagree. True idealism requires the honesty to admit when a system is broken. By “naming reality,” Canada is not abandoning its values; it is protecting them.

The “rules-based order” may be fading, but the “power of legitimacy, integrity, and rules” remains a potent weapon if wielded by a coalition of states that refuse to be subordinated. Mark Carney has invited the world to stop pretending. It is a bold, risky, and essential move. Canada has taken its sign out of the window. The question now is which middle powers will have the courage to do the same.

Resale of foreign copyrighted books

CAmicus Curiae

OMMERCIAL importation and resale of books without the copyright owner’s consent is infringement.

The 11,420 examinees of the 2025 bar exams (5,594 out of whom passed) encountered three questions on intellectual property law, specifically one each for trademark, patent and copyright.

The copyright question stated: “X, an Indian national studying medicine in the Philippines, learned that the foreign medical books prescribed by his professors were sold at a much cheaper price in India. He thus ordered 30 copies of each book in India and had them shipped to the Philippines. He sold these copies to his blockmates for a price 30 percent cheaper than the prevailing Philippine prices. XYZ Publishing Co., Inc., the exclusive licensed publisher of the books in the Philippines, sued X for copyright infringement. In his defense, X argued that he has the right to resell the books he got from India, hence, he is not liable for copyright infringement. Is X correct?”

The question was lifted from the actual case of  M.Y. Intercontinental Trading Corp. v. St. Mary’s Publishing Corp. (GR 249715, April 12, 2023).

A copyright owner has exclusive economic rights in the reproduction and distribution of the original copy of their work through sale and other forms of transfer of ownership. The owner, by themselves or through others, may authorize the conduct of these activities. They may also prevent unauthorized activities.

Copyright and all its appurtenant rights may be assigned entirely or in parts. The assignee enjoys the rights and has the remedies of the assignor of the copyright. The assignment must be contained in a written declaration, stating the intention to assign the copyright in whole or in part.

Copyright infringement occurs when someone performs an act that is the exclusive right of the copyright holder, without obtaining the copyright holder’s permission. It involves using copyrighted material

Copyright and all its appurtenant rights may be assigned entirely or in parts. The assignee enjoys the rights and has the remedies of the assignor of the copyright. The assignment must be contained in a written declaration, stating the intention to assign the copyright in whole or in part.

in an unauthorized way. (Columbia Pictures Inc. v. Court of Appeals, 329 Phil. 875, 926).

Under Section 177 of the Intellectual Property Code (RA 8293), the copyright owner has the exclusive economic rights to (1) reproduce the work, (2) make the first public distribution of the original and each copy of the work, and (3) control the importation of copies into the Philippines. These rights belong solely to the copyright owner unless validly assigned under a written assignment or exclusive license (Section 180).

The Supreme Court said that commercial importation and resale of books in the Philippines without the copyright owner’s consent is infringement on the Philippine licensee’s exclusive rights, even if the books are genuinely purchased abroad.

The SC stressed that the first-sale doctrine does not cover unauthorized commercial importing for resale as only personal use importation is allowed under specific conditions,

and publishers’ exclusive rights to distribute locally must be respected. This means unauthorized sellers face penalties, and valid importation for local sale needs the local licensee’s authorization, not just a foreign purchase.

Under Section 181, ownership of a physical book does not include the copyright; therefore, purchasing books abroad does not authorize importing them for commercial distribution locally. The first sale doctrine in the Philippines is limited by Section 190, which permits importation only for personal use (e.g., one copy for individual use, or a few copies for institutional use).

Section 190.2 expressly states that lawfully imported copies cannot be used in any way that violates or limits the copyright owner’s rights, and any such use constitutes infringement.

In Habana v. Goodwill Trading Co., Inc. (GR 131522, July 19, 1999), the Supreme Court said that the execution of any one or more of the exclusive rights conferred by law on a copyright owner, without his consent, constitutes copyright infringement. In essence, copyright infringement, known in general as “piracy,” is a trespass on a domain owned and occupied by a copyright owner; it is violation of a private right protected by law. With the invasion of his property See “Gorecho,” A11

The unbroken ring: A meditation on floods, power, and providence

T. Anthony C. Cabangon

Lourdes M. Fernandez

FA. Davad Nonilon G. Reyes

D. Edgard A. Cabangon Benjamin V. Ramos Aldwin Maralit Tolosa

M. Manangan

817-2807. (Circulation) 893-1662; 814-0134 to 36. E-mail: news.businessmirror@gmail.com www.businessmirror.com.ph Printed by BROWN MADONNA Press, Inc.–Sun

EAGLE WATCH

OR decades, corruption in the Philippines has been described as a “social cancer,” imagined as something pervasive, spreading through institutions but without any identified source or responsible agent. This framing is familiar, dramatic, and ultimately hollow. Unlike the Spanish period in Rizal’s time, the cancer now emanates from within us, causing something diffused, impersonal, and biologically inevitable—an affliction that spreads silently through the body until no one is quite responsible. If corruption is a disease, then citizens wait for surgeons, miracle cures, or collapse. Politics becomes passive.

This metaphor has failed us. It explains neither where corruption comes from nor how it reproduces itself. More importantly, it offers no path for collective agency. A more useful narrative comes from Tolkien. In The Lord of the Rings, evil is not a disease. It is power—designed, inherited, reused, and contested. It has identifiable sources, recognizable temptations, and concrete consequences. Most importantly, it offers a path toward transforma-

tion: not through surgical purging, but through restraint, leadership, and collective responsibility.

The current flood crisis exposes precisely this kind of power problem. Despite decades of spending, plans, and reforms, flooding persists, revealing not merely engineering failure but institutional inheritance. Systems built for discretion rather than learning continue to govern complex processes that demand transparency, coordination, and

Tolkien also offers something our political discourse often avoids: the necessity of leadership without domination. The alternative to Sauron, Saruman, and Gollum is not another strongman, but the Fellowship—a coalition bound by limits, trust, and shared responsibility. Like corruption, the Fellowship does not emerge spontaneously.

long-term capability. Marcos Sr. in Tolkien’s framework resembles Sauron. His legacy was not simply dictatorship, but the construction of a centralized architecture of command over finance, infrastructure, and political discretion. Public works became instruments of loyalty and control as much as development. He forged the one Ring to rule them all. Even with the fall of the dictatorship, the ring lived on. It was absorbed into democratic governance, quietly shaping incentives and behaviors, and remained alive. Rodrigo Duterte parallels Saruman in this universe. Saruman’s corruption began not with cruelty but with developmental certainty—the belief that transformation must be

rapid, centralized, and decisive. Once speed and scale become supreme values, restraint (which others describe as conservative or austere) appears inefficient and accountability becomes obstruction. Duterte governed with this impatience. Chronic problems were framed as emergencies demanding accelerated execution and discretionary authority. He did not recreate Sauron’s authoritarianism outright, but he normalized its methods in the name of development and delivery.

In this framework, Marcos Jr. occupies the most ambiguous and dangerous position: Gollum who did not forge the Ring. Instead, he inherited it and cannot imagine life without it. He is divided—publicly reasonable but privately bound to the object of power. This metaphorical schizophrenia captures the present moment. Marcos Jr. signals reforms yet hesitates to bring the political crisis to decisive resolution. He manages tensions rather than confronting them, preserves alliances rather than clarifying accountability, and seeks stability while tolerating institutional drift. Being heir to the Ring, he requires its legitimacy without surrendering it. The consequences of this dysSee “Eagle Watch,” A11

House seeks say over AI chip sales after Nvidia’s China win

By Oma Seddiq & Maggie Eastland

CONGRESS is one step closer to gaining the authority to re view artificial intelligence chip sales to China, a move likely to open a rift with the Trump administration over plans to let Nvidia Corp. sell its powerful H200 processors to the world’s second largest economy.

A House committee focused on foreign affairs approved bipartisan legislation Wednesday that calls for arms-sale style congressional oversight of advanced AI chip exports. Beyond oversight, the text endorsed by the panel’s Republicans and Democrats would outright ban sales of Nvidia’s more advanced Blackwell chips to China for at least two years, codifying existing export controls into law.

The bill marks a response to President Donald Trump’s decision last month to ease longstanding export controls on China, a move aimed at spurring adoption of American AI technology in global markets but one that drew strenuous objections from national security hawks in Congress. Trump’s approval for Nvidia’s H200 sales to Chinese customers was formalized by a new rule issued last week by the Commerce Department.

The panel approved the bill by a 42-2 margin. It now heads to the House for a floor vote. The Senate has yet to release a companion version, but lawmakers there have introduced a separate bill that would effectively block H200 sales.

“I have been so worried that the president wouldn’t stop at just H200s,” Representative Gregory Meeks, the top Democrat on the panel, said Wednesday. He added that lawmakers want to “send a clear message that our national security, our foreign policy, and our technological crown jewels are not for sale.”

Under the legislation, the administration would be required to notify Congress of advanced AI chip sales before they’re approved, giving lawmakers the power to review and block export licenses to China, Russia, Iran, and other adversaries through a joint resolution. The measure calls for allowing members of House Foreign Affairs and Senate Banking committees to see the numbers of chips up for export as well as the end-users buying them.

It also creates a way for so-called “trusted” US person’s AI companies to receive license exemptions when sending chips to US allies and neutral countries—an approach commended by Microsoft Corp. executive Fred Humphries—and requires the administration to submit a strategy on its policy for maintaining the US

Gorecho.

. . continued from A10

lead in the AI race.

Humphries said in a December statement on LinkedIn that Microsoft appreciates lawmakers’ focus on ensuring the US leads in AI but has not endorsed a specific bill. Spokespeople for Nvidia didn’t respond to a request for comment Wednesday.

White House AI Czar David Sacks has publicly criticized the bill, the latest in a series of congressional attempts to rein in Trump administration efforts to let Nvidia and Advanced Micro Devices Inc. reenter China’s fast-growing AI chip market. Last year, the White House helped derail a bill that called for giving US customers first dibs over AI chips potentially headed to China.

Conservative political activist Laura Loomer also tore into the draft bill in a post on X, saying it “yanks control of advanced AI chip exports away from President Trump.”

Sacks and other Trump administration officials have argued that selling in China’s market will encourage foreign companies to become reliant on American technology, boosting US leadership while offering a product that can compete with Huawei Technologies Co.’s systems. Nvidia has also pushed to be able to sell a modified version of its moreadvanced Blackwell chip design to China.

Trump’s approach has been met with skepticism from Republicans and Democrats on Capitol Hill, who have coalesced around safeguarding US innovation from adversaries. China hawks warn that sending highly advanced American chips to the Asian country may inadvertently strengthen its military and economy, threatening US national security.

Representative Brian Mast, a Florida Republican who chairs the committee, over the weekend blasted opposition to the bill, targeting Sacks, Nvidia and other White House allies. Since Trump took office, Nvidia has lobbied against nearly every congressional attempt to stop or restrict its chip sales to China.

“We all agree that we are in an AI arms race,” Mast, who introduced the bill, said Wednesday. “So why wouldn’t we want to know what the AI arms dealers want to sell to our adversaries?” With assistance from John Harney/Bloomberg

rights, a copyright owner is naturally entitled to seek redress, enforce and hold accountable the defrauder or usurper of said economic rights. Registration and deposit of one’s works is not necessary but authors and artists may opt to file for the copyright registration of their work with IPOPHL for the issuance of the appropriate certificate of copyright registration.

Aside from books, among the literary and artistic works include other writings, musical works, films and photographic works, ornamental designs or models of manufacture, paintings, sculptures, and other works of arts, as well computer programs and mobile apps.

Atty. Dennis R. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez. com, or call 09088665786.

AI craze boosts South Korean stock index to 5,000 milestone

Sfunctional system are visible in flood governance. Massive budgets coexist with weak institutional learning, fragmented accountability, thin technical capacity, and repeated failures. These reforms and policies are not isolated mistakes; they are symptoms of a system optimized for continuity rather than transformation.

In Tolkien’s myth, the flood after Saruman’s downfall nonetheless has a dual character: judgment on Saruman’s works, but mercy and liberation for the land and its right-

By Sangmi Cha & Youkyung Lee

OUTH Korea’s stock benchmark touched the 5,000 target set by President Lee Jae Myung for the first time, fueled by AI‑driven demand in the tech‑heavy market.

The Kospi Index climbed as much as 2.2 percent to hit 5,019.54 before paring the gain to 4,952.5, a new record close. The index was lifted by gains in Samsung Electronics Co. and SK Hynix Inc.—the country’s two most valuable stocks. The gauge has gained 94 percent in the past 12 months, making it the world’s bestperforming index.

The rally highlights Korea’s shift from a cyclical export market to a core beneficiary of the global AI boom, thanks to its dominance in memory chips critical for data centers. The latest leg higher in Samsung Electronics and SK Hynix came after Nvidia CEO Jensen Huang said multitrillion - dollar investments are needed to build global AI infrastructure. Crossing 5,000 also marks a political milestone, reinforcing President Lee’s pledge to tackle governance shortcomings that have long weighed on valuations.

“This is only the start,” said Kang DaeKwun, chief investment officer at Life Asset Management in Seoul, forecasting that Kospi could hit 6,000 in two months. “Kospi is not seeing a re-rating yet. It’s just normalization. I don’t think 5,000 is an excessively high level.”

Thursday’s rally would put South Korea’s market cap—at around $3 trillion in the previous session—

close to Germany’s at $3.1 trillion. It’s also rapidly closing in on Taiwan, where Taiwan Semiconductor Manufacturing Co.’s dominance in chips has driven valuation higher.  Korea’s benchmark rose in all but one session in January, eking out gains earlier this week even as US President Donald Trump escalated his rhetoric over Greenland and threatened tariffs. Thursday’s gain was part of a regional relief rally after Trump announced a “framework” deal with Nato regarding Greenland. The MSCI Asia Pacific Index advanced as much as 1.1 percent.

Meeting with reporters this week, President Lee emphasized that he’s not trying to artificially inflate stock prices but to normalize the market. He added that investments should be made responsibly.

Kospi’s gains narrowed in the afternoon as foreigners and local funds sold, and as Hyundai Motor Co., now Korea’s third-largest stock, reversed to a loss.

Korea discount BULLS argue the Kospi’s rally still has room to run until the so-called “Korea discount”—the perennial valuation markdown tied to weak corporate governance—fades.

Even at a record-high level, Kos-

pi’s valuation trails regional peers on key measures. The index trades at roughly 1.6 times price-to -book, below that of MSCI’s emerging market benchmark and Taiwan’s Taiex.

Jeong Eun Bo, chief executive officer at the Korea Exchange, said Kospi can reach 6,000, given local industries’ competitive edge and efforts to improve shareholder returns.

Market watchers remain upbeat. Goldman Sachs Group Inc. projects a 23 percent return for Korean equities this year in dollar terms, underpinned by 53 percent earnings growth and a favorable macro environment.

The global memory chip shortage is a major tailwind. Samsung Electronics’ quarterly profit more than tripled to a record as soaring demand for AI servers drove memory prices higher.

The supply-demand dynamics for memory chips will likely stay “imbalanced” through 2027, as manufacturers stay cautious about capex and new capacity, said Mixo Das, head of Korea equity strategy at JPMorgan Chase & Co. With supply tight, “there’s still more upside,” he said.

Such rapid gains, however, can be vulnerable to sudden selloffs if profit-taking pressures mount. The rally has been driven by a narrow pool of buyers, with net purchases limited to local institutional investors.

Retail investor sentiment is more subdued than during the post-pandemic peak of 2021, when mom-and-pop traders drove markets

higher. This time, they have instead funneled money into US stocks, contributing to the won’s weakness and creating a decoupling with domestic stocks that is unsettling policymakers.

In a sign of limited positive spillover into the real economy, gross domestic product shrank in the final quarter of 2025. The country’s tricky balancing act between the US and China also leaves it in the crosshairs of global tariff tensions.   Still, optimism over structural improvements in the stock market is difficult to dismiss.

The government-led “Value-Up” campaign to boost shareholder returns is underway, while tradinghour expansion plans in both equities and currency are also stirring expectations of greater liquidity. The efforts may put the country closer to clinching an upgrade to developed market status by MSCI Inc. Legislative momentum is also building. Recent revisions to commercial law strengthened board accountability and enhanced shareholders’ oversight of directors. Next on parliament’s agenda is a bill mandating the cancellation of treasury shares, which should reduce supply overhang and improve capital efficiency.

Following a meeting with the president on Thursday, Oh Gi Hyoung, the Democratic Party lawmaker leading the Kospi 5000 special committee, said participants won’t be complacent after reaching the milestone and will press ahead with various reforms. Bloomberg

London set to test if its IPO market reforms can deliver results

By Isabella Ward & Pablo Mayo Cerqueiro

FIVE years in the making, the City of London is set to find out if its equity market reforms can deliver results. An outperformance of UK stocks, new listing rules taking ef fect and green shoots in its initial public offering pipeline are making prominent figures hopeful for a long awaited market revival, but the sentiment shift still needs to be matched by results.

Success will depend on whether the UK capital can turn its pipeline of IPO candidates into traded companies, stem the steady leak of cash in its equity funds, and if its benchmark indexes can keep up with international peers.

A multiyear set of reforms by the UK government, its market regulator and the stock exchange have sought to make London’s equity market more attractive, partly triggered by frequent delistings and a scarcity of IPOs.

“London is definitively open for new companies to list and I think that theme will gather pace during this year,” said Charles Hall, head of research at Peel Hunt Ltd. “It’s not going to go from famine to feast, but I think there is definitively a mood shift.”

As of this week, London-listed companies won’t be required to issue a lengthy prospectus for most capital increases. The latest changes followed the announcement of a three-year stamp duty holiday for newly-listed firms in Chancellor of the Exchequer Rachel Reeves’ November budget.

Index provider FTSE Russell is also said to be weighing changes to its rules that would make it easier for foreign companies—such as Norwe-

ful stewards. Unlike the cancer narrative, the Tolkien framework associates agency and responsibility with seemingly worst disasters. Corruption did not just happen. It has architects, imitators, and inheritors. However, it also shows that transformation is possible—but only if the logic of power itself is confronted. Tolkien also offers something our political discourse often avoids: the necessity of leadership without domination. The alternative to Sauron, Saruman, and Gollum is not another strongman, but the Fellowship—a coalition bound by limits, trust, and shared responsibility. Like corrup -

tion, the Fellowship does not emerge spontaneously.

The Fellowship provides a compelling narrative model for how complex, world-saving work can be organized: not through a single chain of command, but through a fellowship of responsible, autonomous agents bound by a shared oath and a shared hope.

This kind of coalition is precisely what remains absent today in this country. Hesitation at the center prevents the emergence of a coherent Fellowship. Agencies remain cautious, civil society becomes reactive, and reforms continue to be fragmented. Crisis lingers in the void between competing seats of power,

gian tech firm Visma AS—to join its UK stock indexes, including reducing free float requirements for foreign incorporated companies from 25 percent to 10 percent.

Visma is top of the list of companies considering a London listing this year. The Norwegian firm has provisionally selected London as a venue for its IPO—potentially one of Europe’s largest this decade.

Other major offerings could come from Uzbek gold miner Navoi Mining & Metallurgical Co. and Uzbekistan’s national investment fund, UzNIF. Online travel agent Loveholidays and insurer Markerstudy are also said to be considering listing in London as soon as this year.

“Muted IPO activity in the UK was a function of limited supply of sizable quality companies, and we’ve seen that improve quite a lot,” said Ashish Jhajharia, head of ECM for Europe, the Middle East and Africa at JPMorgan Chase & Co. “There’s been an improvement in sentiment towards the UK.”

The Financial Conduct Authority is about halfway through a program of “really ambitious” reforms to UK capital markets, executive director of markets Simon Walls told Bloomberg Radio on Monday. On the agenda is a plan to cut IPO timelines by a

where decisive systemic change finds no champion.

In the field of economics, transformation requires abandoning developmentalism’s obsession with scale and speed. Flood control failures reveal the limits of megaproject thinking and discretionary acceleration. Real resilience in the economic field depends on people’s capacities: engineering competence at local levels, maintenance systems, data integrity, learning mechanisms, and ecological realism. Economic development must be anchored in human and institutional capability in order to impose limits on ambition—and to protect governance from the temp-

The push comes after London’s capital markets suffered years of decline. Persistent outflows from local funds and competition from other markets have weighed on the UK, while delistings for mergers and acquisitions, combined with a thin crop of IPOs, have shrunk the market. The UK has also lost several big companies to New York in recent years.

week, in a bid to make London listings more agile.

To be sure, a capital markets revival in London will also depend on global events. The chaos unleashed by US President Donald Trump’s tariffs last year shut the market for weeks, prompting some European issuers to delay IPO plans. Trump’s latest threats over Greenland have spurred a new bout of volatility, shattering a calm start to the year for markets.

The push comes after London’s capital markets suffered years of decline. Persistent outflows from local funds and competition from other markets have weighed on the UK, while delistings for mergers and acquisitions, combined with a thin crop of IPOs, have shrunk the market. The UK has also lost several big companies to New York in recent years.

Things started to look up toward the end of last year, when a burst of IPOs helped to boost the total raised by companies in London to $2 billion —double the amount raised in 2024. Despite the uptick, volumes were still far below historical levels, according

tation to revive concentrated power under the banner of urgency.

Tolkien reminds us that Providence works through human agency. Grace does not replace responsibility. God may reveal the consequences of unchecked power through floods and crises, but transformation requires cooperation, courage, and leadership.

The tragedy of the cancer metaphor is that it encourages a dependence on miracles from God. The power of the Ring metaphor is that it demands action with God’s Grace.

Sauron built the system. Saruman taught potential Ring bearers how to repurpose and use it effectively. Because Gollum is the product of the

to data compiled by Bloomberg. Last year’s new London listings have had a mixed performance, with specialist lender Shawbrook Group Plc up about 18% since listing while shares in canned tuna maker Princes Group Plc have slipped about 4 percent. A potential London listing of Visma would dwarf last year’s offerings. The company, which is backed by UK-based Hg Capital, was last valued at €19 billion ($22 billion) in 2023.

Among others looking at London are CK Hutchison Holdings Ltd., which is working on a dual listing of its health and beauty business in Hong Kong and London. Also on the radar is Barnes & Noble and Waterstones, with the Financial Times reporting that Elliott Management is preparing for a IPO for the combined business of the booksellers.

“We’re having a lot of discussions with companies and shareholders,” said Mark Austin, a partner at Latham & Watkins who is also a part of the UK Capital Markets Industry Taskforce. “London is now demonstrably the least frictional IPO venue in Europe when you work through the respective listing rules, governance codes, remuneration approaches or ease of indexation.” The government, the FCA and the London Stock Exchange are trying to attract greater capital inflows by enticing retail investors, culminating in a cross-industry campaign in April.

“We need to keep this challenger mindset” to compete with established and upcoming markets, the FCA’s Walls said. “The energy in the City is good.” With assistance from James Woolcock/Bloomberg

ring, he is intent on keeping it. The path forward is not just purging corruption and battling dynasties, but more crucially deliberately forming the Fellowship with a credible leader, clear limits, and shared accountability. The Ring can be broken solely by a Fellowship impervious to its power. The downfall of its forger 40 years ago did not destroy the Ring. Whether this generation finally chooses to carry it to the fire remains the defining question of our time.

2nd Front Page

BusinessMirror

PHL project finance rises amid global investment dip

By Bless Aubrey Ogerio @blessogerio

PROJECT

finance activity in the country expanded in 2025, defying a prolonged global slowdown in cross-border investment, according to the latest data from the United Nations Trade and Development (Unctad).

In its Global Investment Trends Monitor, Unctad said most forms of international investment remained under pressure last year as weak economic conditions dampened investor appetite worldwide.

Greenfield project announcements, international project finance, and cross-border mergers and acquisitions (M&As) all stayed in negative territory globally. International project finance declined for a fourth straight year, with total deal values falling by 16 percent.

While the value of newly announced greenfield projects remained close to 2024 levels, sup -

ported largely by mega-projects in developed economies, the number of projects dropped by 16 percent. Cross-border M&A values also slid by 10 percent, despite strong domestic deal activity in some markets. Against this backdrop, Asia posted comparatively stronger results. The region’s total international project finance value rose by 7 percent to $218 billion, even as the number of projects declined by 5 percent.

Unctad said project finance activity increased in several countries, including the Philippines, Syria, Vietnam and Uzbekistan, while Egypt and India recorded declines.

WB flags PHL’s low density of primary healthcare staff

By Justine Xyrah Garcia

THE Philippines is among the countries with the lowest density of public primary health care (PHC) workers in East Asia and the Pacific (EA&P), a constraint that continues to weaken preventive and community-based care, according to a new report by the World Bank. The report, titled A Healthy Future: Primary Health Care and the Chronic Disease Epidemic in East Asia and Pacific, showed that the Philippines has roughly 6.4 public PHC workers per 10,000 population, placing it in the lower tier of the region.

This places the country in the lower tier of the region, far behind neighbors like Viet Nam (10.5), Malaysia (40), and Singapore (63.7).

The World Bank said the workforce gap comes at a critical time for EA&P as aging populations and rapid urbanization fuel a surge in noncommunicable diseases (NCDs) such as diabetes, hypertension, and cardiovascular illness. World Bank Vice President for EA&P Carlos Felipe Jaramillo warned that the rise of chronic disease threatens to erode hard-won economic gains in the region.

“While people are living longer and economies continue to grow, the rising prevalence of diabetes, hypertension, and heart disease threatens to undermine these gains...These conditions affect individuals in their most productive years and they place an increasing strain on families, health systems, and economies,” Jaramillo said during the report’s launch on Thursday.

Over the past three decades, countries in the region have achieved major health gains, including longer life expectancy—which increased from 68 years in 1990 to 77 years in 2023—and sharp declines in child mortality, which fell from 57 deaths per 1,000 live births to 15 over the same period.

However, the report noted that these gains have not been matched by improvements in healthy life years, as more people spend a growing share of their lives (9.3 years) in poor health due to chronic disease.

Effective prevention and management of NCDs depend heavily on strong primary health care systems. In the Philippines, however, the report pointed to structural gaps in health infrastructure and professional capacity, particularly outside major urban centers, that continue to weigh on the delivery of community-based care.

World Bank data also showed that the Philippines records around 24 avoidable deaths per 10,000 population, reflecting gaps across multiple

dimensions of care. These include deaths linked to insufficient prevention, low quality of health care, and non-utilization of health services, underscoring the importance of early intervention and continuity of care at the primary level. Across the region, similar pressures are evident. The report emphasized that out-of-pocket spending remains a major barrier to care, even as countries expand health coverage. In 2019, about 16.8 percent of the EA&P population was at risk of catastrophic health expenditures, defined as out-of-pocket health spending exceeding 10 percent of income—a level nearly double the global average recorded in 2000.

Workforce supply is further strained by the continued migration of health professionals. The report noted that the EA&P region is projected to face a shortfall of more than 8 million health workers by 2030, driven by demographic change, rising demand for care, and persistent gaps in training and retention.

To address these challenges, the World Bank called for a shift in primary health care models—from systems centered on “cure” toward those that prioritize prevention, early detection, and long-term care management. Among the key reforms outlined in the report are task-shifting and task-sharing, which involve training and empowering nurses, midwives, and other frontline workers to deliver specific PHC services under appropriate supervision.

The Bank also underscored the need for stronger quality monitoring, with greater emphasis on tracking patient outcomes rather than focusing mainly on inputs.

Moreover, the report pointed to the importance of better incentives for health care providers, in both the public and private sectors, to support continuous and high-quality primary care. Jaramillo also said that PHC remains the most effective but underused line of defense against the growing burden of chronic disease in East Asia and the Pacific.

“Despite its proven value, primary health care is a tool that remains underutilized in our region, resulting in missed opportunities across many countries in [EA&P]. In a region whose growth has long been fueled by investments in people, we believe strengthening primary health care to protect and expand human capital is a huge priority,” he added.

The World Bank said strengthening the PHC workforce could generate wide economic benefits. The report estimates that each job created in the health sector can generate an additional 3.4 jobs through productivity gains and stronger human capital formation.

The Philippines ranked fourth among the world’s 10 largest international project finance deals announced in 2025, driven by a $15-billion renewable energy development plan by United Arab Emirates–based firm Masdar. (See: https://businessmirror.com.ph/2025/01/18/ pact-marks-formal-entry-of-uaesmasdar-into-phl/)

Despite gains in project finance, greenfield investment activity weakened across Asia’s lower-income economies.

The organization reported a 10-percent decline in the number of announced greenfield projects, equivalent to about 250 fewer projects than in 2024, largely due to drops in Bangladesh and Cambodia.

The total value of announced greenfield projects in the region fell sharply by 30 percent to $189 billion.

Most industries saw lower investment values, although data centers stood out after posting a 44-percent increase. In terms of project count, the automotive sector recorded the strongest growth.

In the Philippines, automotive demand showed signs of softening. Data from the Chamber of Automotive Manufacturers of the

DOT: DIRECT FLIGHTS KEY TO GROWING EUROPEAN TOURISTS

By Ma. Stella F. Arnaldo Special to the BusinessMirror

VPhilippines Inc. and the Truck Manufacturers Association showed fuel-powered vehicle sales reached 383,424 units from January to October 2025, slightly lower than the 384,310 units sold during the same period a year earlier.

Globally, foreign direct investment (FDI) flows rose by 14 percent in 2025 to an estimated $1.6 trillion, Unctad said, largely due to financial flows passing through major global hubs.

“An increase in flows of more than $140 billion through several global financial centers played an important part,” the agency noted. However, Philippine FDI inflows remained weak. The Bangko Sentral ng Pilipinas recently showed that FDIs fell by 39.83 percent to $642 million in October 2025, down from $1.067 billion in the same month last year.

Outlook for this year PROSPECTS for global FDI in 2026 remain highly uncertain amid mixed economic signals and persistent geopolitical risks, Unctad said. While easing inflation and borrowing costs in major economies

with a 37-percent increase in arrivals to 21,311, while Greece (+40.28 percent) and Romania (+28.08 percent), though smaller in arrivals volume, posted high growth rates, indicating expanding interest across Eastern and Southern Europe.

‘Choose high spenders over the stingy’ MANY local tour operators have long been urging the DOT and its marketing arm, the Tourism Promotions Board, to increase their

promotions in Europe to attract higher spending tourists, instead of focusing on markets generally considered “kuripot [stingy],” naming China, for one. European tourists stay longer in the Philippines and the lack of direct flights from their home countries are not an issue. “Many European tourists already take connecting flights [to Manila] via the Middle East or Singapore/ Hong Kong,” and thus, pay cheaper fares than on direct flights, noted one veteran tour operator, who requested not to be named. Meanwhile, Frasco said PAL officials informed her of “capacity” limitations that prevented the pioneering flag carrier from offering direct flights to Europe. “That’s why we’re

With Air France scrapping its

WTO to PHL: Leverage AI in digital service

By Bless Aubrey Ogerio

THE country is well positioned to expand its presence in AIdriven, digitally delivered services as global trade in such services continues to outpace traditional goods, the World Trade Organization (WTO) said.

WTO director general Ngozi Okonjo-Iweala pointed to the country’s established business process outsourcing (BPO) sector as a competitive advantage in digital trade conducted across computer networks.

“Global services trade is growing at almost 4.5 percent, while goods

trade grew 2.4 percent last year and is expected to slow to 0.5 percent this year,” Iweala said at the Philippine pavilion at the World Economic Forum Annual Meeting in Davos, Switzerland on Tuesday.

“Meanwhile, digitally delivered services trade, which is all trade conducted across computer networks, is growing at nearly 6 percent.”

Iweala urged the nation to quickly capitalize on this comparative advantage, emphasizing that AI-driven services could create significant employment if paired with appropriate skills development and training programs.

The IT and Business Process Association of the Philippines (IBPAP) reported that the sector generated $40 billion in export revenues in 2025, employing 1.9 million workers. IBPAP also projected that exports could reach $42 billion this year.

Despite global disruptions, Iweala noted that international trade remains resilient. “Seventy-two percent of world trade is still ongoing in spite of all the disruptions. That means that the system that was built is quite resilient,” she said.

Climate, growth considerations HIGHLIGHTING the Philippines’s

vulnerability to climate events, the Nigerian economist stressed the importance of climate-resilient investments. “Every time something hits, you lose a portion of your GDP [gross domestic product]. Your growth is slowed down,” she said. Data from the Philippine Statistics Authority (PSA) showed GDP growth slowed to 4 percent in the third quarter of 2025, the weakest quarterly expansion outside the pandemic period since 2011. To mitigate climate risks, the national government has the People’s

Editor: Jennifer A. Ng

B1 Friday, January 23, 2026

SEC adopts new system for beneficial ownership reports

TBy VG Cabuag @villygc

HE Securities and Exchange Commission (SEC) will launch by the end of the month a new web-based registry for beneficial ownership (BO) disclosures.

Starting January 30, corporations required to submit beneficial ownership disclosures may do so via the agency’s Hierarchical and Applicable Relations and Beneficial Ownership Registry (HARBOR), through https://harbor.sec.gov.ph/ or through the Electronic Filing and Submission Tool (eFAST).

The new system enables the secure submission and updating of beneficial ownership data and is

integrated with eFAST, the commission’s official portal for the submission of reportorial requirements.

Through the new system, SEC reduces manual handling of beneficial ownership information, improving data quality and enabling more timely access to reliable information for compliance monitoring and regulatory coordination.

“Beneficial ownership disclosures are a key transparency

reform that supports good governance and helps prevent the misuse of corporate structures for illicit activities,” SEC Chairman Francis E. Lim said.

“Through HARBOR, the SEC streamlines the filing process while strengthening BO data management, enabling the commission to provide timely and meaningful support to partner agencies in lawful enforcement actions.”

Beneficial owners refer to natural persons who ultimately own or exercise effective control over a corporation, whether directly or indirectly.

Currently, beneficial owners’ disclosures are submitted to the SEC via eFAST on the last page of a company’s general information sheet submission.

With the launch of the new system, the SEC issued the 2026

version of the GIS, which removes the page on beneficial owners’ disclosures. This reflects the shift to HARBOR as the agency’s web-based registry for beneficial ownership submissions and updating.

Effectively, companies will no longer need to re-submit the same beneficial ownership declaration every year, unless there are changes, including the addition of new beneficial owners. Instead, filers will be required to revalidate previously submitted information.

To access the new system, filers must have an active account on the Electronic SEC Universal Registration Environment (eSECURE), the agency’s digital passport for its online services.

In addition, only active and authorized filers through eFAST may submit beneficial owners’ declarations via HARBOR.

Globe gains access to Nokia APIs

By Lorenz S. Marasigan @lorenzmarasigan

GLOBE Telecom Inc. has expanded its partnership with Nokia to speed up the deployment of network application programming interfaces (APIs) across its partner and developer ecosystem.

The expanded partnership will give Globe access to Nokia’s full portfolio of APIs through its Network Exposure Platform (NEP), a cloud-native infrastructure designed to streamline API service delivery across different network environments.

Globe, which serves over 60 million customers in the Philippines, first announced plans to test NEP in February 2025 for developing security applications to combat mobile banking fraud.

APIs provide access to network functionality and data, enabling

enterprises to leverage advanced network capabilities. Early adopters include banking, healthcare, automotive, entertainment and defense sectors, with additional use cases emerging as awareness of the technology grows.

Several Philippine banks are now preparing to implement Globe’s Number Verification API. The partnership with Nokia aims to extend similar opportunities across Globe’s entire API ecosystem.

“With cyberattacks on digital services accelerating, it is crucial that we make available the latest network-powered technologies to our enterprise customers and help them safeguard against fraud. We are now at the stage of testing how Nokia’s NEP can support our customers in the banking and enterprise sectors with security verification tools to prevent fraudulent

transactions,” Globe Business VP KD Dizon said.

Nokia NEP implements the GSMA Operator Platform, a standard for exposing operator capabilities to developers.

“Nokia’s open API solutions will empower Globe to rapidly develop and deploy new services, fostering innovation and creating new revenue streams by securely exposing network capabilities to developers and partners,” said Shkumbin Hamiti, Nokia Head of Network Monetization Platform.

In January to September 2025, Globe reported consolidated gross service revenues of P121.7 billion, slightly below the P124 billion posted in the same period the year prior.

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

Coca-Cola PHL names new chief executive

By Bless Aubrey Ogerio @blessogerio

COCA-COLA Europacific

Aboitiz Philippines (CCEAP)

has named Ramon Christian Pesigan as its new president and chief executive officer, effective January 2026. Pesigan, who previously served as Commercial Vice President for over two years, said it is an honor to assume the role “at such a transformative and exciting time.”

“My passion for our purpose has never been greater, and with our 9,000 empowered associates who remain our greatest strength, we are more driven than ever to deliver sustainable growth for our people, customers, and communities,” he added.

Pesigan began his career with CCEAP in 2013, holding key leadership positions including Commercial Go-to-Market Director and General Trade Director.

He succeeds Gareth McGeown, who led the company as President and CEO for seven years.

McGeown will take on a new role as Vice President and General Manager for Coca-Cola Europacific Partners’ Australia, Pacific, and Southeast Asia business unit.

“Chris’ appointment is a testa-

ment to the strong foundation that we’ve built, and I’m confident that he will build on the momentum as we continue our mission of refreshing the Philippines together,” McGeown said.

CCEAP, a joint venture between Aboitiz Equity Ventures Inc. (AEV) and Coca-Cola Europacific Partners (CCEP), distributes Coca-Cola products in the Philippines. In a landmark transaction, AEV and CCEP purchased Coca-Cola Beverages Philippines Inc. from Atlanta-based The Coca-Cola Co. for $1.8 billion.

FedEx APAC president THE Federal Express Corp. (FedEx) announced that Salil Chari has been appointed president of FedEx’s Asia Pacific (APAC) region, taking over the role on January 1. Chari, formerly senior vice president of Marketing and Customer Experience for APAC, is tasked with overseeing the strategic direction of FedEx’s operations in the region and leading a team of nearly 30,000 employees.

“Asia Pacific is home to some of the world’s most dynamic and fastevolving trade corridors, creating powerful opportunities for businesses of all sizes to grow and compete globally,” Chari said in a statement.

Chari joined FedEx in 1997 as a marketing analyst in Memphis, U.S., and has since held leadership positions across Latin America, the Caribbean, the Middle East, the Indian Subcontinent, Africa and the Asia Pacific region.

Richard Smith, FedEx’s chief executive officer of FedEx Airlines, said Chari’s extensive multi-regional experience positions him to lead the APAC business effectively.

“With his deep understanding of the region, I am confident he will lead our APAC business to new heights and reinforce the region’s importance to our global growth,” Smith said.

Chari succeeds Kawal Preet, who has moved to a new role as executive vice president for Planning, Engineering and Transformation.

FedEx operates globally with an annual revenue of $90 billion and employs more than 500,000 people. The company has set a goal to achieve carbon-neutral operations by 2040.

Canon CFO

CANON Marketing (Philippines) Inc., a distributor of the brand in the country, has appointed Rochelle Plata as assistant director and CFO.

Plata succeeded Rosalia Baldorado, who recently retired, the company said.

AYALA Land Offices Inc. (ALO), a unit of listed Ayala Land Inc., on Thursday said it has finalized a 5-year lease agreement with state-owned Land Bank of the Philippines (LandBank) for office and parking spaces at the Ayala Malls Manila Bay Corporate Center in Parañaque.

The leased space spans 3,866.75 square meters on the 6th floor of the Corporate Center and will house selected Landbank head office units, departments and a subsidiary.

The lease term covers five years, with commencement scheduled for June 1, 2026. The new location offers a modern, accessible setting designed to support evolving workplace requirements and complement existing operations.

The contract signing, held at the LandBank Plaza, formalized the

agreement between LandBank as lessee, Bay City Commercial Ventures Corp. as lessor, and ALO as leasing manager.

“The new lease underscores ALO’s continuing efforts to deliver well-planned, high-quality office solutions that respond to growing organizational needs while supporting a more efficient and people centered work environment,” the company said.

Representing ALO were senior division manager Michael Anthony D. Garcia, leasing manager Etzel Austria H. Tandoc and associate Ma. Rachella Benice V. Tagle. Landbank was represented by facilities management department head and vice president Alexander S. Lazaro, with facilities management department assistant manager Flordelyn A. Cerilla serving as witness. VG Cabuag

By Andrea San Juan

INTEREST-rate ceiling on credit cards should be lifted as the existing cap tends to “hinder” financial inclusion in the country, according to the Credit Card Association of the Philippines (CCAP).

“The unintended consequence of an interest rate cap is it serves as a disincentive for credit card issuers to target the more risky lower income individuals because they will not be able to price the higher credit risk in cards issued to this market segment,” CCAP Executive Director Alex Ilagan said in a text message.

“This will therefore hinder the financial inclusion thrust of the government,” added Ilagan.

In an interview with reporters last Tuesday, the CCAP official said the organization’s members “still feel that they [regulators] should leave the cap.”

“We feel that the market will eventually determine” what the best rate is, he added explaining that if the interest rate for credit cards is marketdriven, there will be competition.

“So some banks will lower theirs, some will increase. So depending on the available market, it should be deregulated. Let the market decide what’s the best level,” Ilagan added.

The CCAP official said the credit card industry group has already submitted another position paper to the Bangko Sentral ng Pilipinas (BSP) late last year.

“Based on the feedback from

ONE quiet evening, long after meetings had ended and messages had slowed, I went through the workplan of the Philippine Council of Associations and Association Executives (PCAAE) where I serve as founder and volunteer CEO. On paper, it looked demanding: leadership programs to deliver, conversations to convene, an Associations Summit to prepare, and advocacy work that never really pauses. Yet, instead of feeling overwhelmed, I felt reassured. This is what commitment looks like. This is what happens when an organization knows why it exists. At that moment, one phrase came clearly to mind: “bound and determined.”

The phrase “bound and determined” carries quiet strength. To be “bound” is to be tied to a duty or obligation; to be “determined” is to pursue a goal with firmness of purpose. Historically, the phrase described individuals who were not only committed by circumstance or responsibility, but also resolute in seeing things through. In leadership, it speaks to the powerful intersection of obligation and resolve. In the world of associations, this phrase resonates deeply, particularly for my organization, the PCAAE. By its very nature, PCAAE is bound by its mandate to serve associations, and determined to elevate the practice of association leadership and management in the Philippines. Association work is not casual work. It is values-driven, serviceoriented, and community-anchored. PCAAE exists because associations matter to professions, industries, and society at large. This places a clear responsibility on the organization and its leaders: to continuously respond to the evolving needs of member associations while upholding good governance, professionalism, and collaboration across sectors. Being bound means honoring this responsibility. PCAAE is bound to champion capacity building for association leaders and professional staff, to promote ethical and effective governance, and to create platforms where associations can learn from one another. This is evident in PCAAE’s sustained programs such as leadership forums, learning exchanges, annual summits, and ongoing advocacy for stronger, more resilient associations. These initia-

Banking&Finance

them, it’s already been discussed in the Monetary Board (MB) but there’s no decision yet. So we’re still waiting for the subsequent meetings,” Ilagan said.

Ilagan said lending companies regulated by the Securities and Exchange Commission (SEC) can charge as high as 6 percent interest rate per month compare to the 3 percent cap imposed by the BSP.

Monetary authorities decided to retain the existing ceilings on credit card transactions under Circular 1165 dated January 19, 2023.

“The maximum interest rate or finance charge on the unpaid outstanding credit card balance of a cardholder remains at 3 percent per month or 36 percent per year,” the BSP said in a statement in August 2023.

Similarly, the monthly add-on rates that credit card issuers can charge on installment loans is maintained at a maximum rate of 1 percent.

Meanwhile, the maximum processing fee on availing credit-card cash advances stays at P200 per transaction.

BSP Governor Eli M. Remolona Jr. said in 2023 that “the BSP’s decision to maintain the current ceilings on credit card transactions strikes a balance between providing consumers with access to credit card financing at steady rates and ensuring long-term viability of banks/credit card issuers so that they can continue to provide quality service to their clients.”

tives reinforce a simple but powerful message: association leadership is a profession that deserves investment, rigor, and respect.

But duty alone is not enough. PCAAE must also be determined, i.e., determined to remain relevant in a rapidly changing environment where associations face generational shifts, digital disruption, volunteer fatigue, and rising member expectations. Determination shows up in PCAAE’s willingness to evolve its programs, refresh its content, and introduce timely themes that speak to present realities. It is reflected in the organization’s continuing focus on leadership development, futureready associations, sustainability, and collaboration.

In the months ahead, PCAAE’s upcoming programs and the annual Associations Summit are not merely calendar items. They are deliberate responses to what associations need now: clarity of purpose, stronger governance, and leaders who can navigate uncertainty with confidence and conviction.

For association leaders and professional staff, “bound and determined” is a mantra worth embracing. We are bound by the trust of our members and determined to serve them well. We are bound by purpose and determined to deliver impact. In PCAAE, this dual commitment shapes, not only what we do, but how we do it.

As we move forward, may this phrase serve as both a reminder and a challenge. The PCAAE will continue to be bound to its mission and determined in its execution, and in doing so, invites every association leader to reflect: “What are we bound to, and how determined are we to deliver on it?”

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

BIR to resume issuing LOAs after review of suspension

By Reine Juvierre Alberto @reine_alberto

THE resumption of the issuance by the Bureau of Internal Revenue (BIR) of its letters of authority (LOAs) would “definitely” be in the first quarter, a person familiar with the matter confirmed.

According to a government official, the government would need to resume field audits “for revenue collection.”

“The government needs that; the BIR needs that tool,” the official said. LOAs allow revenue officers to carry out tax examinations or audits on a taxpayer’s books, record and

accounts for a specific taxable year to verify compliance and determine tax liabilities.

The BIR said on Wednesday that a technical working group is now in the final stages of refining the policy issuances and reform measures that will govern the lifting of the suspension and the resumption of audits.

IT took just $280 million of trading to push Japan’s $7.2 trillion government bond market into meltdown.

That was the combined turnover for the country’s benchmark ultralong maturity bonds as they plummeted on Tuesday, unleashing a $41 billion wipeout across the Japanese curve that sent shockwaves through global markets.

The rout pushed yields to record levels, stoked worries that Japan was heading into a “Liz Truss moment” and led US Treasury Secretary Scott Bessent to seek reassurances for what he called a six-standarddeviation move.

The disconnect between the size of the wipeout and the amount that actually traded shows how Japan’s sometimes illiquid bond market has become a weak spot in the global financial system. Subdued for years by the Bank of Japan’s massive stimulus, the world’s third-largest pile of government debt is now increasingly vulnerable to shocks after the central bank and domestic life insurers pulled back.

“This is not a paradox: it is exactly what you expect in a market where depth is thin, dealer balance sheets are constrained, and prices are set by the marginal trade rather than by volume-weighted averages,” said Shoki Omori, chief desk strategist at Mizuho Securities Co. in Tokyo.

Just $170 million traded in Japan’s most closely watched 30-year bond on Tuesday while another $110 million of the 40-year note changed hands, according to Japan Bond Trading Co. data compiled by Bloomberg.

The volumes were higher than in recent trading days but represented a fraction of the $41 billion that traded on the same day in Japan’s 10-year bond futures.

The 30- and 40-year notes were the worst hit during Tuesday’s trading session, which several market participants described as the most chaotic in recent memory. Yields on both bonds surged by more than 25 basis points during the rout, al-

though trading has calmed since.

A Bloomberg index that measures the divergence of Japan’s bond yields from their theoretical values soared to an all-time high this week, signaling worsening dislocations in the market.

New normal TRADERS and analysts in Tokyo are still unsure who was behind the selling, with primary dealers, hedge funds and domestic life insurers all among the rumored culprits.

The broad causes are in less dispute: Japan’s adjustment to higher inflation, which is pushing up interest rates, is disturbing years of calm in the market. Plans by Prime Minister Sanae Takaichi to pause a sales tax on food and beverages, an apparent bid to shore up support before a snap election next month, are adding to worries about fiscal policy.

Investors are now being forced to adjust to a historic change in how Japanese government bonds trade.

JPMorgan Chase & Co. analysts wrote in a note this week that market breadth, a measure of the impact of price moves on trading volumes, deteriorated rapidly this week. That ensured even modest flows had a big influence on long-dated prices, and contrasted to the strong breadth in Treasury and bund markets, the analysts wrote.

Foreign investors now account for roughly 65 percent of monthly cash JGB transactions, up from 12 percent in 2009, according to Japan Securities Dealers Association data.

A segment once dominated by domestic life insurers has increasingly come to be driven by investors with much shorter holding periods.

“It’s not an issue that just Japan is struggling with; we see similar things in the US,” said Stefan Angrick, a senior economist at Moody’s Analytics. “Treasury markets are now also much more dominated by buyers that move out more quickly than the investors that dominated the market in the past. It’s how things are going to be for a while.” Bloomberg

“These reforms are being carefully designed to ensure that when audits resume, they do so under clearer rules, stronger safeguards, and better oversight,” Internal Revenue Commissioner Charlito Martin R. Mendoza was quoted in a statement as saying.

The resumption of the fields audits come after the BIR failed to hit its full-year target for 2025, raising only P3.105 trillion in a year that ended with it pausing audit operations amid an uproar about harassment of businesses.

“The BIR cannot survive if these letters of authority are suspended forever,” Finance Secretary Frederick D. Go said in his keynote address during the inaugural meeting of the Financial Executives Institute of the Philippines Wednesday night.

“But, before we restore it, what I’d like to assure you is that we’re working on several things,” Go added.

The Finance Secretary assured that the BIR will digitize and institutionalize a data-driven audit selection process.

“By leveraging automated riskbased modeling, we are creating a system that minimizes discretion and strengthens accountability,” Go said.

“The key word here is quality assessments, and we will not allow arbitrary or abusive audits,” added the head of the Department of Finance (DOF).

The BIR will also reduce the number of departments authorized to issue LOAs and lessen the number of LOAs a taxpayer can receive in any given year, Go added. The issuance of LOAs was suspended last November after business groups raised concerns over audit practices and the conduct of some revenue officers.

Electronic fund transfers still on growth trajectory

ELECTRONIC fund transfers continued to gain momentum as InstaPay and PESONet transactions nearly doubled in December 2025, showed data from the Bangko Sentral ng Pilipinas (BSP).

The latest data showed the combined value of transactions in InstaPay and PesoNet climbed to P2.69 trillion in December 2025. The amount rose by 49.44 percent from the P1.8 trillion recorded in December 2024.

The data showed InstaPay had 698.06 million transactions in December 2025 which amounted to P1.345 trillion while PesoNet had 10.62 million transactions, also amounting to P1.345 trillion. Compared to December 2024, InstaPay transactions grew 66.03 percent in terms of value and PesoNet transactions rose 35.96 percent in December 2025.

In terms of volume of transactions, InstaPay transactions grew threefold in December 2025 with 698.06 million from the 159.94 million transactions it had in December 2024. Meanwhile, the volume of PesoNet transactions grew 16.96 percent to 10.62 million in December 2025, from the 9.08 million in December 2024.

ASWEEPING US crypto market bill is likely to be delayed by at least several weeks as key lawmakers shift their focus to potential housing legislation in support of President Donald Trump’s affordability push, according to people familiar with the matter.

The move by the Senate Banking Committee follows Trump administration calls to tackle costs for Americans ahead of this year’s congressional elections. The panel is likely to further postpone consideration of major digital-asset legislation, which was already delayed last week, until late February or March, said some of the people, who asked not to be identified discussing private deliberations.

Although Trump and top officials in his administration have made crypto a priority, housing is most Americans’ largest monthly expense and a key contributor to inflation. Concerns over costs are widely seen as a political liability after Republicans lost several key elections late last year.

Lawmakers are looking into legislation to carry out Trump’s call to prevent large institutional investors from purchasing single-family homes, said one of the people, who asked not to be identified discussing the private conversations.

Trump signed an executive order Tuesday directing his administration to issue guidance preventing the government from backing or facilitating such sales. The order also directs the Treasury Department to come up with a threshold definition to determine which investors qualify as large institutions.

A spokesperson for the Senate Banking Committee declined to comment.

PESONet and InstaPay are automated clearing houses (ACHs) under the BSP’s National Retail Payment System (NRPS). The NRPS promotes interoperability, or the state when end-users or consumers are able to transfer funds from one account to another account in any participating BSP-supervised financial institution. The Philippine EFT System and Operations Network (PESONet) is the first ACH under the NRPS, launched in 2017. It is a batch EFT credit-payment scheme, which can be considered as an electronic alternative to the paper-based check system. Meanwhile, InstaPay is a real-time low-value EFT credit push payment scheme for transactions amounting up to P50,000. Andrea San Juan

The White House didn’t immediately respond to a request for comment. It’s not clear how much of an impact such a move could have on housing prices. Larger institutional investors own less than 1 percent of the nation’s single-family housing stock, according to some estimates.

Crypto bill

MEANWHILE, the shift to housing raises further questions about whether the Senate’s efforts to write a new law for crypto market structure will ultimately succeed.

Backers have touted the proposals as providing clearer jurisdictional lines between the Securities and Exchange Commission and the Commodity Futures Trading Commission over the industry. Both regulators claim some turf over digital assets, but say Congress needs to clarify their roles. Work on that legislation by the Senate Banking Committee was suddenly postponed last week after Coinbase Global Inc. pulled its support. That delay could give the various financial and crypto industry players more time to lobby for an agreement on legislation that can win wide support. However, the Agriculture Committee will also have a say in any bill that clears the Senate. That committee released its version of digital-asset legislation on Wednesday and plans to hold a markup on January 27. The draft was released, in a potential sign of trouble ahead, without the backing of Democratic Senator Cory Booker. Bloomberg

When magic meets fine dining

LONG before rabbits were pulled from hats and assistants vanished in puffs of smoke, magic was a matter of survival.

Ancient Egyptians believed illusion was a divine gift, medieval courts prized conjurers who could astonish kings without losing their heads, and by the 19th century magicians like the great Harry Houdini turned deception into high art, thrilling audiences eager to be fooled.

Over time, magic shed its top hats and velvet curtains, evolving into mind-reading, psychological illusions, and experiences so immersive that they blur the line between reality and imagination. Thus, today’s magicians no longer ask, “Do you believe?” Instead, they invite you to sit down, dine well, and watch closely. Which is exactly where the story begins—at the table.

Following an exclusive media preview in September, which I attended, Grand Hyatt Manila finally unveiled “The Magic Table” last Thursday, the first of its kind in the country. The immersive dining and entertainment experience, limited to select locations worldwide, combines posh hotel dining with spellbinding magic tricks, hosted virtually by the internationally acclaimed mentalists The Clairvoyants.

The Clairvoyants, composed of Austrians Thommy Ten and Amélie van Tass, were finalists on Season 11 of America’s Got Talent (AGT ) in 2016. They are World Champions of Mental Magic and recipients of the Academy of Magical Arts Award in Hollywood, dubbed the “Oscars” of the magic world.

Since their turn at AGT, they have taken their act to Broadway and Las Vegas, and recently had a North American tour. Their tours continue to earn standing ovations and critical acclaim, solidifying their reputation as one of the most sought-after acts in the world of magic.

When he visited in September, Ten performed illusions like making a lit candle on a covered table fly or correctly guessing the number in a cup chosen by a member of the audience, among others. Last Thursday, there was no Ten nor van Tass in person,

but there were still a lot of magic tricks performed, mostly by me and my fellow diners.

Using 3D projectors hung overhead, images were cast on the dining table, which helped us perform card tricks and interactive illusions guided by Ten’s voice, even as stories on magic and magicians, or escape artists like Houdini, unfolded on the table.

Of course me being me, I had some difficulty following Ten’s directions (I don’t hear so well in the dark, okay?!), so some of the tricks I performed didn’t pan out with the expected results. But the best magic I did pull off was to devour the five-course dinner plated before us. Tadaah!

We had the Wizard’s Essential Menu (P8,500 per person), which featured Forest and Porcini Mushroom Pâté with hazelnut soil, fig, lemon, pistachio and Manuka honey; Butter-Poached Hokkaido Scallop with herb crust, sun-dried tomato and crustacean bisque; Crab Meat and Codfish Brandade with sakemarinated ikura (salted salmon roe) and avocado; and Mulwarra Tenderloin Beef Wellington with bone marrow and café de Paris butter jus.

For dessert, we were served a delightful Chocolate and Hazelnut Sphere with espresso, chocolate brownie, cherry sorbet and bourbon sac, which was revealed after a piece of flash paper covering the dish was lit and burned away.

Guests can upgrade to The Grand Illusion Menu, or choose a vegetarian option via The Enchanted Garden Menu. Diners can also bring their kids (ages six to 12), who will surely be excited to execute their own magic tricks, while savoring whimsical, child-friendly dishes from The Young Magician’s Feast.

were possible when I first started. Was it all great? No. But it was fruitful, fulfilling and formative.”

The Magic Table is held nightly at Penthouse No. 66, and runs for about two hours for each seating—the first at 6 pm and the next at 8:30 pm. Be amazed at not just a hefty dinner, but a transformative experience of wonder and delight.

Visit www.themagictable.com/manila for details and reservations, or call 8838-1234.

■■■

AFTER working in IHG Hotels & Resorts for 25 years all over the world, our friend Patria Puyat-Palanca is leaving as cluster general manager for Crowne Plaza Manila Galleria and Holiday Inn & Suites Manila Galleria, the first woman to head both hotels.

She started as sales coordinator at the InterContinental Hotel Manila (where Ayala One now stands), but by 2009 flexed her management skills in other IHG properties abroad. In Dubai, Pat says, she had to go head-to-head with Middle Eastern men and European women, trying to prove her worth not just as a woman, but as an Asian and Filipina.

Prior to appointment in Manila, Pat led Crowne Plaza Vientiane in Laos and aside from managing

She adds: “As IHG continues to evolve, so do I. And with that comes the realization that it’s time to step out of my comfort zone, to explore what lies ahead, and to grow in new ways, personally and professionally. I leave this chapter with gratitude for the people, the lessons, the challenges, and the opportunities that shaped me. The journey mattered. The growth was real. And the best part is still to come.

I’m excited for what’s next.”

At our media group’s pre-Christmas lunch with Pat, she disclosed that the new chapter in her long hotel career begins at Megaworld Hotels and Resorts (MHR), where she will assume the role as its group director for business development. She told us she was thrilled to be on the hotel development side this time, after having spent most of her career managing properties.

Pat will be working closely with another energetic woman hotelier, Cleofe Albiso, who is MHR’s managing director, and they will surely help drive the further expansion of the company. Their boss Kevin Tan, who had announced new hotel brands last year, is one lucky guy to have Cleofe and now Pat on his team. Congrats!

GEMINI

CANCER (June 21-July 22): Dig in and finish what you start. Tunnel vision, along with discipline and intuition, will lead to positive physical or emotional change and potential profit. Be receptive to suggestions and willing to try something new. Negotiations, contracts and resolutions are looking good. The stakes are high, but so are the rewards. Choose to participate rather than hibernate. ★★

LEO (July 23-Aug. 22): Let the electricity flow when you walk into a room, and the attention you receive will change how you feel about yourself, your life and your prospects. You have plenty to gain by joining forces with people as dynamic and proactive as you. Love is in the stars, along with personal changes that will keep you looking your best. ★★★★★

VIRGO (Aug. 23-Sept. 22): An event or day trip will help you rethink your future. The people and surroundings you encounter will confirm what’s possible. Set guidelines, a budget and an ongoing commentary with people who can assist any transition you wish to pursue. It’s up to you to create opportunities and to make your dreams come true. ★★★

LIBRA (Sept. 23-Oct. 22): Take some “me time” and enjoy the luxury of relaxation, pampering or spending one-on-one time with someone special. The downtime will give you a chance to consider what makes you happy. Get back to basics, start an activity you enjoy or take on a project that has meaning and purpose. ★★★

SCORPIO (Oct. 23-Nov. 21): Keep life, conversations and interactions with others light, playful and entertaining, and you’ll avoid getting into a debate that can destroy relationships. Be the one to calm the storm instead of fueling the fire. Take care of your reputation and your mental and physical well-being. ★★★★★

SAGITTARIUS (Nov. 22-Dec. 21): Set a budget before you venture out. Your generosity or desire to please will cost you. You can’t solve everyone’s problems or pay for others’ mistakes. Offer a kind word or suggestions, nothing more. Home improvements that make your life easier are favored, but beware of scammers or anyone trying to sell you something you don’t need. ★★

CAPRICORN (Dec. 22-Jan. 19): Partnerships will offer positive results. Whether you are dealing with someone professionally or personally, the encounter will be advantageous. Financial help, joint ventures and shared expenses will lead to higher

AQUARIUS

Show

GMA Network caps milestone 2025 with ratings leadership, digital dominance

MEDIA giant GMA Network capped its 75th anniversary in 2025 by reinforcing its position as the country’s leading media company, marked by ratings leadership, digital dominance, and continued global recognition for Filipino storytelling.

Throughout 2025, GMA delivered credible and breaking news, eye-opening public affairs documentaries, and hit entertainment programs across all platforms, reaching Filipinos nationwide and overseas.

Based on Nielsen Television Audience Measurement (TAM) data for January to December 2025, GMA retained its position as the No. 1 channel nationwide, with a net reach of 86.2 percent or almost 62 million viewers in Total Philippines. Together with GTV, I Heart Movies, and Heart of Asia, GMA tallied a net reach of 87.5 percent or about 63 million viewers.  GMA programs dominated the Top 30 most-watched list in Total Philippines based on aggregate ratings, accounting for 27 entries. Leading all programs was Kapuso Mo, Jessica Soho, which ranked No. 1 nationwide. Primetime newscast 24 Oras followed closely in second place. Other top-rating GMA shows included Encantadia Chronicles: Sang’gre, The Voice Kids, The Clash 2025, Tolome! Walang Matigas na Pulis sa Matinik na Misis, Lolong: Bayani ng Bayan/Lolong: Pangil ng Maynila, Stars on the Floor, Pepito Manaloto: Tuloy Ang Kuwento, Magpakailanman, Mga Batang Riles,  BBL Gang/BG 30 Batang Bubble Ako.

Completing the list were Sanggang-Dikit FR, Family Feud, Shining Inheritance, Widows’ War, Lilet Matias: Attorney-At-Law, Mommy Dearest, Prinsesa ng City Jail, My Ilonggo Girl, Pulang Araw, 24 Oras Weekend, Cruz vs. Cruz, My Father’s Wife, Forever Young, Binibining Marikit, and Akusada

The network also sustained its digital dominance in 2025, ranking as the top Southeast Asian content creator for 23 months  in the Entertainment and Media Category based on data from Tubular Labs. From January to December 2025, its official online platforms published content that generated high viewership among netizens.

As of December 31, 2025, official GMA Network creator properties have tallied over 74.4 billion video views: 35.1 billion on Facebook, 26.3 billion on TikTok, 10.4 billion on YouTube, and 2.6 billion on Instagram.

Entering 2026, GMA Network aims to deliver even more innovative content, lead stronger collaborations, and provide engaging, compelling storytelling across platforms, ensuring Filipino stories continue to inform, inspire, and entertain audiences worldwide.

The new BTS album title and what to know about the K-pop band’s comeback

By Maria Sherman The Associated Press

NEW YORK—After a nearly four-year musical hiatus, the K-pop giants BTS are back. Well, almost.

On Thursday morning, the entertainment company BigHit Music shared on social media that the septet—RM, Jin, Jimin, V, Suga, Jung Kook and j-hope—will release a new album on March 20 titled Arirang. It is their fifth album. So, what can listeners expect?

WHAT WE KNOW ABOUT THE NEW BTS ALBUM, ‘ARIRANG’

IN addition to news of the album title, the retailer Target announced it was partnering with BTS for exclusive preorder editions of Arirang. Starting at 9 pm Eastern on Thursday, fans can preorder 10 different vinyl album editions. And for fans of CDs, there are two exclusive editions with collectible photocards. Other than that, details are limited. BigHit Music shared a link on social media on Thursday morning that led to WeVerse, the online fan platform owned

UK-based Filipina book author Joan Tuano Rumsey, aged 33, bagged the Gourmand World Cookbook Awards 2025 with her book Steak Simplified: A Contemporary Guide for Steak Connoisseurs.

Steak Simplified, which won the Meat Category, unlocks the secrets of premium meat and presents the ultimate guide to understanding, sourcing and cooking amazing beef and lamb. Partnering science and stats with a passion for produce, the book uses meticulous research to clarify the beneficial role meat can play in our modern diets.

Rumsey said that her first book is her love letter to her parents, who started La Carne-Abu Dhabi 11 years ago, and a manifesto of sorts, echoing La Carne’s motto: “Everybody can cook great meat!”

The Gourmand World Cookbook Awards is the premier international competition recognizing the world’s best food and wine books, digital publications, and food television, often referred to as the “Oscars of gastronomy books.”

Founded in 1995 by Edouard Cointreau, these awards celebrate “those who cook with words,” bringing together authors, chefs, and publishers to honor culinary culture, tradition, and memory

by BTS management company HYBE. The webpage included international pre-order details for Arirang but appeared to omit all album artwork. Earlier this month, BigHit Music shared a somewhat cryptic note on X: “March 20 comeback confirmed.” It wasn’t much to go off, but it did further confirm news from last summer, when the group teased a world tour and announced that a new album would be released in the spring of 2026. At the time, they said they would begin working on the project in July 2025.

WILL BTS TOUR SOON?

ON Tuesday, the band announced a 2026-2027 world tour, kicking off in South Korea in April and running through March 2027 with over 70 dates across Asia, North America, South America, Australia and Europe. This marks the group’s first headline performances since their 2021–22 Permission to Dance on Stage tour. See the full tour dates at shorturl. at/uxNFe.

with completing South Korea’s mandatory military service.

In South Korea, all able-bodied men aged 18 to 28 are required by law to perform 18 to 21 months of military service under a conscription system meant to deter aggression from rival North Korea.

The law gives special exemptions to athletes, classical and traditional musicians, and ballet and other dancers if they have obtained top prizes in certain competitions and are assessed to have enhanced national prestige. K-pop stars and other entertainers aren’t subject to such privileges.

Rapper Suga was the last group member to be released—from his duties as a social service agent, an alternative to serving in the military that he reportedly chose because of a shoulder injury. That was in June 2025.

The six others, RM, V, Jimin, Jung Kook, Jin and j-hope, served in the army. BTS tiered their enlistments, giving ample time for its members to focus on solo projects while the group was on a break. Jin, the oldest member, was the first to enlist in

and lamb, combining practical guidance, culinary insight, and storytelling to help readers cook, taste and shop with confidence. From understanding marbling and myoglobin to exploring Filipino classics

TAYLOR SWIFT LEADS THE 2026 iHEARTRADIO MUSIC AWARD NOMINATIONS, FOLLOWED BY BAD BUNNY

AND MORE

And in song

who are tied with eight each. The iHeartRadio Music Awards honor the most played artists of the year on its stations and app. Last year, Swift and country singer Morgan Wallen led the nominees with 10 each. She also led the nominees in 2024 and in 2023, when she tied with Lizzo and Harry Styles. This time around, Swift is up for song, artist, pop artist, pop song of the year, best lyrics, best music

video, favorite on screen, favorite tour style as well as the new to 2026, fan-voted category favorite TikTok dance. “This is an annual awards show made exclusively for fans, celebrating the biggest songs and artists they’ve loved listening to on iHeartRadio stations and our iHeartRadio app all year long,” said John Sykes, president of entertainment enterprises and Tom Poleman, chief programming officer of iHeartMedia in a joint statement. Squaring off against Swift in the artist of the year category are Wallen, Carpenter, Bad Bunny, Benson Boone, Chris Brown, Jelly Roll, Kendrick Lamar, Lady Gaga and Tate McRae.

Leon Thomas’ “Mutt” and Myles Smith’s “Stargazing.” Fans

including

DBP cited by state regulator for good governance

State-owned Development Bank of the Philippines (DBP) has been recognized for the second consecutive year by the state regulator of government-owned and controlled corporations (GOCCs) in the country for upholding the highest standards of corporate governance among its industry peers, a top official said.

DBP President and Chief Executive Officer Michael O. de Jesus said the bank was the top ranked GOCC in the Governance Commission for GOCCs’ (GCG) 2024 Corporate Governance Scorecard (CGS) which evaluates GOCCs based on international governance standards.

“This latest accolade from the GCG is an affirmation of DBP’s longstanding commitment to sound corporate governance as a foundation of operational discipline and institutional integrity, and which has helped it in fulfilling its development financing mandate,” de Jesus said.

DBP is the 10th largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy – infrastructure and logistics; micro, small, and medium enterprises; environment; social services

Hotel101 Moves Closer to Goal of Operating in 100 Countries

ON January 20, 2026, Hotel101

Global Holdings Corp. (NASDAQ Ticker: HBNB) (“Hotel101” or “Hotel101 Global”), a leading asset-light, prop-tech hospitality platform pioneering a global standardized “condotel” business model listed on the Nasdaq Stock Exchange and a subsidiary of Philippinelisted DoubleDragon Corporation (PSE Ticker: DD), announced the signing of definitive binding agreements for the development of a 766-room Hotel101 in the heart of Melbourne Central Business District at 540 Flinders Lane, Melbourne, Australia.

This expansion marks a significant milestone in the company’s global growth strategy, bringing its novel globally standardized “condotel” business model to one of Australia’s most vibrant and dynamic cities. Hotel101-Melbourne is expected to be completed in 2029.

The hotel will be located in the heart of Melbourne’s Central Business District along the iconic Flinders Lane, a prime area renowned for its laneways, street art, boutique shopping, world-class dining, and proximity to major attractions such as Federation Square, Flinders Street Station, the Yarra River, and Southbank entertainment precinct. This strategic site positions the property as an ideal hub for leisure and business travelers seeking seamless access to Melbourne’s cultural, commercial, and sporting hubs and will complement the existing premium hotel offerings in the CBD.

and community development.

Enacted by virtue of Republic Act No. 10149 or the GOCC Governance Act of 2011, GCG is the primary central policy-making and regulatory body that strengthens governance standards across the GOCC sector while ensuring the delivery of efficient, transparent, and people-centered services.

De Jesus said DBP obtained a final CGS score of 104.17 percent, a sharp rise from the 102.67 percent it garnered from the previous CGS, which serves as an instrument to assess the corporate governance initiatives and practices of GOCCs using a methodology benchmarked against the Corporate Governance

principles of the Organization for Economic Cooperation and Development and the ASEAN Corporate Governance Scorecard.

He said the award is a testament to the collective efforts of the men and women of DBP, who have built on timetested principles of good governance and jumpstart the Bank’s strategic initiatives in 2026. “We hope that this latest GCG citation would inspire us further in enhancing our good governance policies and mechanisms with the end goal of making our programs more responsive to the needs of our ultimate stakeholder—the Filipino people” de Jesus said.

Running Into 2026: Run Clubs Turning Urban Spaces Into Wellness Hubs

THE new year no longer signals a short-lived sprint toward resolutions, but a more considered pursuit of habits that last. Enter the run club, once a niche gathering for seasoned athletes, now a social, welcoming fixture of modern urban living. Across the metro and beyond, run clubs are becoming woven into lifestyle destinations, transforming open spaces, parks, and city streets into shared wellness hubs. For those looking to make running part of their 2026 rhythm, here are some run clubs worth discovering.

Uptown Bonifacio Run Club Set in Taguig City, the Uptown Bonifacio Run Club has steadily grown into a vibrant running community that welcomes all levels. Regular sessions take off from the UGF of Uptown Mall, near The Fountain, with runs led

OFTEN in life, the journey matters just as much as the destination. How you get there is where life’s many joys and lessons come from. This is one thing that Honda Philippines, Inc. (HPI), the No.1 motorcycle manufacturer in the country, truly understands. And this is what makes the ADV160 a ride that puts emphasis on the journey. The ADV160 comes with more refined and improved features, enhanced technology, and a unique image. Carrying the lifestyle-driven concept “The SUV Pride,” this upgraded evolution is built for riders who move seamlessly between daily commuting and leisure, delivering confidence, control, and distinction in every journey. To mark its grand arrival, HPI hosted a dynamic launch event on January 19, attended by the media and content creators. The event kicked off with the unveiling of the model’s latest performance capabilities, signaling a new era for the unique automatic category in the Philippines. As an adventure-style automatic scooter, The ADV160 is meticulously designed for those who seek

by seasoned runner and coach Marites “Tess” Nocya, whose guidance makes the experience both structured and encouraging—especially for beginners. What sets this run club apart is its themed runs that keep things fresh, from mall-a-thons that turn the mall into an indoor running loop, to pet-friendly runs and movieinspired jogs that add a playful twist to the routine.

Forbes Town Run Club

Launching this year’s first run on January 22, 2026, the Forbes Town Run Club offers a refreshing take on city running, one that leans into the area’s open spaces. Set within one of the metro’s busiest districts, the run club also makes a strong case for weaving movement into everyday routines. Designed for easy after-work participation, it offers a practical way for professionals

excitement and a unique new colors. This model makes riding effortless with its Automatic transmission, allowing you to focus on the thrill of the ride without manual shifting or clutch operation. Confidence is reinforced through advanced safety technologies. The Anti-lock Braking System (ABS) with wavy disc brakes helps maintain stability during sudden braking, while Honda Selectable Torque Control (HSTC) supports traction on varying road conditions. Visibility and rider awareness are further enhanced by the All LED Lighting System, Emergency Stop Signal, and Hazard Lamp, helping ensure you are clearly seen and prepared for unexpected situations on the road. These features ensures safety whether navigating busy city streets or exploring new paths during weekend escapes. The latest design styling captures the spirit of an explorer, featuring a rugged yet premium aesthetic. With a 780 mm seat height and 165 mm ground clearance, it provides a commanding view of the road and the ability to clear obstacles with ease. Beneath its premium exterior lies a highperformance 157cc, 4-valve, liquid-cooled, eSP+ engine.

in the area to transition from long office hours to intentional downtime through scenic routes that pass through parks and wide walkways.

Arcovia City Fitness Club

More than just a run club, the Arcovia City Fitness Club in Pasig embraces a holistic approach to movement. Alongside community runs, the club hosts bike rides, workouts with the Manila Padel Club, and other crosstraining sessions that encourage variety and long-term engagement. A key highlight is the Arcovia City Run Clinic, a community-led session designed to focus on proper form, pacing, and confidence-building.

Maple Grove Run Club

At Maple Grove in Cavite, fitness feels less like a checklist and more like a natural part of daily life. The Maple Grove Run Club reflects this philosophy, offering social runs within a neighborhood intentionally designed to support active living. Beyond running, Maple Grove’s wellness offerings extend to yoga sessions, bike rides, and fit fests—group workouts that bring residents and visitors together. The presence of condo and village gyms further reinforces the area’s commitment to accessible, everyday fitness.

Sometimes, the simplest way to move forward is to move together—one run, one route, one community at a time. For schedules, announcements, and registration details for upcoming runs and events, be sure to visit each property’s official Facebook page. For updates, visit megaworld-lifestylemalls.com or call (02) 8462-8888.

This powerhouse delivers a maximum power of 11.8 kW @ 8,500 rpm and a maximum torque of 14.7 Nm @ 6,500 rpm, providing the punchy acceleration needed to stay ahead of traffic. Despite its robust output, it remains remarkably efficient with a fuel consumption of 45.0 km/L (WMTC). Combined with an 8.1 L fuel tank, this efficiency allows riders to explore more, making it a reliable partner for long-distance touring and daily use alike. Ride comfort is also elevated through the Adjustable Windscreen, which helps reduce wind fatigue, and the Subtank Rear Suspension, designed to absorb road imperfections and provide a smoother ride across longer journeys.

Everyday riding becomes more intuitive with the ADV160’s new 5-inch TFT meter panel, offering clear and modern visual access to essential riding information. Exclusive to the RoadSync type, Honda RoadSync brings smartphone connectivity to the ride, allowing access to navigation, calls, and notifications—while the new multi-function switch and passing light switch keep controls easily within reach. Daily convenience is further supported by thoughtful features such as the New USB Type-C Charger for on-the-

Hotel101-Melbourne is expected to generate approximately AU$323.6 million (approximately P12.6 billion) in sales revenue forming part of Hotel101

SM Hotels

Global’s global expansion strategy. Hotel101-Melbourne is expected to offer 4-star amenities at affordable prices, including ample meeting spaces and a conference center tailored for business events. Consistent with Hotel101’s offerings across its locations globally, guests are expected to be able to enjoy modern rooms, 24/7 reception, all day dining, swimming pool, full-size gym, business center, children’s pool, rooftop bar, ample parking, luggage storage and other amenities. The development is subject to customary national, regional and municipal regulatory approvals.

Champions a Future-Ready Hospitality Workforce at Career Connect 2025

The SMHCC HR and OD team, from left, Senior Learning & Development Manager Laurice Maggay, Senior HR Manager Dhang Bonoan, Vice President Charmagne Adonis, HR Assistant Dianne Asprec, and Asst. HR Manager Lezlie Medenilla

SM Hotels & Conventions Corporation (SMHCC) proudly took part in hosting Career Connect, a dynamic and integrated career fair held at the SMX Convention Center Manila, reaffirming SMHCC’s commitment to attracting, developing, and empowering topnotch talents in the hospitality industry. Career Connect is a flagship talent initiative that brings together the diverse business units of SM Prime Holdings, Inc., the Property Management arm of the SM Group under one shared mission: to open doors to meaningful careers and nurture future industry leaders. The event showcased

Engineering Design and Development Corp. (SMEDD); SM Development Corp. (SMDC); and SM Hotels & Conventions Corporation (SMHCC). Representing SMHCC were its owned, managed, and franchised properties, including

Taal Vista Hotel, Conrad Manila, Lanson Place Mall of Asia, Park Inn by Radisson North EDSA, and SMX Convention Center, each offering diverse roles across hotel operations, conventions, and guest services.

Career Connect was further strengthened by the support of partner organizations from various sectors. These included BDO for financial assistance and promotions; SM Foundation and LifeSkills PH for training and scholarship opportunities; and manpower agencies such as Kares International Commodities & Manpower Services Corp., Green Pasture People Management, Inc., and All Around Services and Merchandising Corp. Their participation underscored the collaborative ecosystem that supports career readiness and long-term employability.

Key government agencies including PhilHealth, SSS, Pag-IBIG, DOLE, and PESO Pasay were also present throughout the day, providing on-site assistance and addressing employment-related inquiries, ensuring that applicants received holistic support as they prepared to enter or advance in the workforce.

One of the highlights of the event was the panel discussion, “Inside SM: Empowering People, Enabling Possibilities,” featuring HR leaders from SM Prime, SM Supermalls, SMDC, and SM Hotels & Conventions Corporation. The panelists shared insights into SM’s people-first culture, offered practical career advice, and discussed how employees can grow, thrive, and build long-term careers within the SM organization.

“Career Connect reflects what SM Hotels & Conventions Corporation stands for: creating opportunities, investing in people, and building a futureready hospitality workforce,” said SMHCC Executive Vice President Peggy E. Angeles. “We are proud to open our doors to talents who share our passion for service excellence and innovation,” she added. Career Connect 2025 was a productive and inspiring day filled with nurturing connections that link individuals, organizations, and institutions in a shared pursuit for growth, purpose, and professional success within one of the country’s leading hospitality and lifestyle groups.

go device charging, the Idling Stop System for improved efficiency during traffic stops, and the Honda Smart Key System for keyless operation. Storage needs are well covered with a spacious 30L luggage box, ideal for daily essentials and leisure gear, while compatibility with a Smart Top Box, which can be operated by the Smart Key System, adds secure, weather-protected storage for longer rides and adventures.

“Today, we mark another important event, as we officially launch the latest version of ADV160, a model that has become a symbol of strength, confidence, and adventure on the road. Known for its bold design and commanding presence, the ADV160 embodies what we proudly call ‘The SUV Pride,’” said Mr. Takeshi Kobayashi, President of Honda Philippines, Inc. Carry your ride with pride as The ADV160 is available in variants designed to suit your personal style. The ABS Type comes in three sophisticated shades: Matte Gunpowder Black Metallic, Pearl Fadeless White, and Matte Sabre Green Metallic For those prioritizing advanced connectivity, the RoadSync Type is offered in more premium colors: Matte Pearl Crater White and Quartz Brown Metallic.

Henry Ford Awards Best Motoring

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

Motoring BusinessMirror

MOS is Geely Philippines’ new dealership partner; Autohub is looking to further expand network

Story by Randy S. Peregrino

GEELY is back in the Philippines through the newly formed Geely Motor Philippines Corp. (GMP), a subsidiary of Geely Automotive International Corporation (GAIC). The brand aims to revitalize its presence, with dealership expansion a key strategy in its comeback. Recently, principals from the Autohub Group and MOS Autosolutions, Inc. shared their outlooks on Geely’s future in the local market. Autohub is a multi-car brand veteran with 25 years in the industry, while MOS operates an American car brand showroom in Marikina and is an emerging partner for Geely.

Autohub Group

LED by president Willy Q. Tee Ten, the company operates several Geely dealerships across the Philippines. He believes Geely is an important brand for the company, both globally and in the Philippines. “We like to invest in the Geely brand because we have confidence in the brand, we believe that it is a brand for the long term.”

Tee Ten explained that looking at top-selling brands is a basis for business decisions, such as whether to invest in a brand. So, when Geely came in, it was one of the few brands that made them commit, thanks to the product quality. “We jumped into the brand, simply because it is amazing. As the years went by, we saw what the company was all about and gained more confidence. As a result, it gave us the level of confidence we needed for the brand.” When it comes to preserving good relationships and profitability, Tee Ten’s perspective focuses on

JUST when everybody wasn’t looking, here comes Hariphil Asia Resources, Inc. (HARI) offering a P1-million discount on not just one but two of its Volvo models. I haven’t seen a price slash that huge. That easily surpassed the P300,000-discount Toyota Motor Philippines (TMP) has dangled on its RAV4 model.

Here is HARI’s Ciana May P. Calsena discoursing more salient features on Volvo’s bold pitch for 2026 on its hybrid line-up: “HARI), the official distributor of Volvo Cars Philippines, unveils an exclusive limited-time offer on

the ups and downs of managing the distributorship or dealership, as well as on the country’s economic conditions, supply, and demand. “It boils down to the management of the distributorship on how it will adapt. Initially, there will be trial and error. We maintain consistent communication with the brand and hope they continue to listen to us, given the contrast in how we do business in our respective countries. So far, we felt that Geely Philippines has been open to our insights and in turn, we decided to expand the dealership network,” he explained. When asked how Autohub’s expertise will enhance the Geely ownership experience, Tee Ten emphasized that the company’s strong industry background has driven its current position. “We faced tough decisions—right and wrong—but always learned. The automotive business is dynamic, with new challenges and surprises each year, especially for 2025. We can’t catch every ball, but we must

not drop the most important one. Decision-making has major impact. Moving into 2026, dealer and distributor relationships within our network will be crucial—everyone must work together.”

Tee Ten also strongly believes in the importance of establishing flexibility and openness to do what is best for the brand. “We have a handful of marketing strategies to be implemented for the brand. We hope they continue to bring in good models. Like these upcoming models, we are very excited and looking forward to them. These are the reasons why we went with Geely,” he said.

He also stressed the importance of trusting the brand and recognizing that there is room for improvement, including teamwork between the dealer and distributor. Autohub has also deepened its commitment to the Geely brand. In terms of good business practices, they apply those while learning from mistakes. “In this kind of business, everybody is capable and intelligent, so we need to think ahead, like two steps ahead of everybody else. We must come up with many innovations. In Autohub, we like doing things out of the box,” Tee Ten explained. To show how committed Autohub is, Tee Ten even appointed his own son to spearhead the Geely brand.

He stressed that there should be no room for below-average performance. Family member or not, everyone is treated professionally in the company. In fact, more pressure is given to family members to lead by example. “We trust the brand. That is why we are further expanding the network. We hope that the trust is reciprocated. While the relationship is good, we like to take it to the next level, if possible.”

As for their two upcoming dealerships, and to avoid divulging specific details, they are looking at the Southern Tagalog and Mindanao regions to aggressively expand their presence there. When asked about the upcoming Geely models, Tee Ten trusts the brand’s decision to bring in the best products. “If the brand is leading in China, I do not see any other reason why it should not do well here in the Philippines. We just hope that we continue to have discussions on new models coming in, as to what specific models to bring in.” Right now, the direction is PHEV models.”

MOS Autosolutions, Inc.

MEANWHILE , MOS Autosolutions, Inc.is an authorized sales and service dealership for an American brand operating in Marikina. They have recently established a partnership with Geely. Led by president Jedrik O. Manzana, he

acknowledged the fact that Chinese brands are inevitable. “We need to find a brand that we can partner with what we believe in as longevity. I think Geely has shown what it can do a few years back. At one point, it ranked among the top Chinese car brands in the Philippines. With the new models coming in and everything exciting happening with Geely, they could regain the momentum.”

Discussing the upcoming dealership, Manzana notes that Marikina represents a unique market, one they are wellpositioned to serve. “Geely previously had a showroom in Marikina, which eventually closed. This presents us with an opportunity, as we see clear market potential in the area.”

He further notes that they are familiar with Marikina’s market, people, and businesses. “These positions us advantageously to serve local customers. Our current dealership belongs to a brand known for high customer ratings, and we intend to bring this level of service to Geely. Ultimately, what sets us apart is our deep understanding of how to serve our customers.”

When it comes to providing service to Geely customers, as well as on parts, technicians, and whatnot, Manzana is all about it. “Number one, we need

the necessary training of our technicians, especially with the new technologies coming in. But also, as far availability of parts. Geely assured me that previous challenges will be addressed. Now they have a giant warehouse with complete inventory of parts to support both existing and upcoming models.” Regarding the company’s plans to open additional Geely showrooms aside from Marikina, Manzana revealed they have a few areas under consideration. He also expressed that a big portion of that would be getting the right people from the area and the right people to lead the area. When asked whether all is going well, do you have plans to further expand? “No timeline as of now, but yes, we are looking at a few areas. We have properties in these areas. It is just a mix of good timing for both us and Geely’s growth. While it is easy to simply put up a showroom, without careful consideration, it would not last in the long run. So, it is all about the right timing. Also, other factors like new models coming in, how well will these models do in the coming years, are they as good as expected?”

The company plans to set up a 3S dealership. “We are in the early stages of planning the layout, considering a two-floor building based on the lot area,” Manzana says. “Our decision to establish a Geely dealership stems from trust in the brand and recognition of how China manages its automotive business, especially now with direct management in the Philippines. We see capability and commitment from Geely and its dealer partners.” On the upcoming models, Manzana is excited about the new Plug-in Hybrid (PHEV) models. “Considering how well the market has accepted the segment, particularly the good sales performance of another brand model in that platform. So, the one coming up would be a direct competitor. In fact, that market (PHEV) is one of the most competitive markets for good reasons. So far, I have only driven the EX5, and I also like that model. How about his thoughts on the new models coming in? In general, I am excited about the electrified models. I think Geely is going in the right direction, particularly with electrified models and its price points, which are acceptable to the market,” he concluded.

its premium plug-in hybrid lineup, headlined by the XC90 PHEV T8 and XC60 PHEV T8.

“The Volvo XC90 Plug-in Hybrid, the brand’s flagship SUV with its multiple IIHS Top Safety Pick ratings — reinforcing Volvo’s unwavering commitment to safety, while delivering refined comfort and timeless Scandinavian design for unmatched peace of mind.

2.7-M units sold

“COMPLEMENTING this is the XC60 Plug-in Hybrid, Volvo’s bestselling SUV of all time, with over 2.7-million units sold worldwide, offering customers a compelling opportunity to own world-class electrified vehicles that combine performance, sophistication and exceptional value.

“The Volvo XC90 T8 Plug-in Hybrid, Volvo’s flagship sevenseater SUV, is offered with a P1million discount, reducing its suggested retail price (SRP) from P5,450,000 to P4,450,000.

“Designed for families and long-distance journeys, the XC90 T8 delivers up to 77 kilometers of electric-only driving range, enabling emissions-free use before seamlessly transitioning to hybrid mode for extended trips, ensuring optimal fuel efficiency, performance and refinement. Its combination of electric capability, strong power output and Scandinavian elegance creates a truly versatile premium SUV.

2nd P1-M slash

“THE Volvo XC60 T8 Plug-in Hybrid also receives a P1-M discount, bringing its SRP from P4,550,000 to P3,550,000. Known for its sporty character and versatility, the XC60 T8 offers up to 80 kilometers of electric-only range, ideal for daily urban driving.

“When the battery charge is depleted, the vehicle intelligently switches back to hybrid operation to maximize fuel efficiency while maintaining responsive

performance, making it well-suited for both city use and extended road trips.

“Interested customers are encouraged to visit authorized Volvo dealerships nationwide to learn more about the promo, availability and terms and conditions. With these exclusive offers, now is the perfect time to experience Volvo’s plug-in hybrid technology and drive toward a more sustainable future.

“For more information, visit Volvo Cars Makati, call +63 908 8914 286, or email inquiry@ volvocarsph.com to book a test drive.”

What are you waiting for, fellas?

Remembering Mayor Yabut

THE Edsa rehab is underway, although it is not going in full throttle yet to avoid traffic congestion on the country’s major artery from Monumento in Caloocan to Baclaran in Paranaque.

I heard they are using special cement (imported from Japan?) for

quick-drying results, thus easing more vehicle entanglements with faster completion of patch-up jobs. My one and only prayer is for quality work to be observed to the fullest.

No hanky panky. Supervisors on their toes always to ensure a 101 percent success. I remember the late Mayor Nemesio Yabut of Makati, who made it a point to keep his city potholefree 365 days a year.

“Oh, he was a stickler for quality,” the late Rudy Salud had told me. “He has a team that inspects daily the city roads, including tight alleys, repairing cracks and holes right there and there.”

Salud, the former commissioner of the Philippine Basketball Assocation (PBA), was the lawyer who penned the constitution and by-laws of the World Boxing Council. He was a pillar then in Yabut’s inner circle. How I wish our current mayors

in the NCR (National Capital Region) would

B8 Friday, January 23, 2026

Gawilan in full throttle in Korat

THREE-TIME Paralympian

Ernie Gawilan ruled the men’s 200-meter freestyle S7 in record time on Thursday for his second gold medal in the ASEAN Para Games at the 80th Birthday Aquatics Center in Nakhon Ratchasima.

The 35-year-old Gawilan clocked 26.08 seconds to erase the previous record of 2:52.11 set by Thai Sittichai Somyut in the 2008 games also hosted by Nakhon Ratchasima.

For Gawilan, he is driven by two things in this campaign—make the podium of the 2028 Los Angeles Paralympics so that his soon-to-beborn daughter will be proud.

I hope she’ll be proud of my accomplishment someday,” said Gawilan, as he started to make the pool his domain in the major Thailand city also known as Korat. “And I hope she becomes an athlete, too, a swimmer.”

“Sana, ipagmalaki niya sa mga kaibigan niya balang araw, sana maging atleta rin siya, swimmer din,” Gawilan said.

G ary Bejino, who won the country’s first gold medal Wednesday, got his second title in the men’s 200-meter freestyle S6 after clocking 2:37 to also break his previous record of 2:38.55 in Phnom Penh.

“ In the 200m event, you need to distribute your strength,” said

Bejino, who grabbed a silver medal last Wednesday in the mixed 4x50 freestyle relay 20 points S1-S10 event with Angel Mae Otom, Marco Tinamisan and Bea Roble.

The 30-year-old Tokyo Paralympics swimmer added a silver medal in his tally after finishing the men’s 50m freestyle S6 event in 34.38 seconds.

More swimmers joined the gold rush with Angel Otom clinching her second gold medal in the women’s 100m freestyle S4-S5 in 1:41.44 and Ariel Joseph Alegarbes dominated the men’s backstroke 100m S14 in 1.02.52.

L ast Wednesday, Rodrigo Podiotan Jr. ruled the men’s 400m T52 event in 1.01.06 and erased the previous record of 1:01.93 set by Jerrold Mangliwan, who settled for a silver medal in the same event in 1:01.41. Palarong Pambansa standout Jan Jayro Palermo took home his first gold medal in the ASEAN Para Games after tallying 6.89m in F20 men’s long jump.

The Philippines ranked fourth in the overall medals race with a 12-10-8 goldsilver-bronze haul, with host Thailand way on top with 52-43-39, followed by Indonesia with 28-28-24.

M alaysia ran fourth with 11-1723, Vietnam was fifth with 10-11-10, Myanmar sixth with 6-7-3, Singapore (2-2-6), Brunei Darussalam (1-0-0) and Laos (0-0-2).

under Republic Act 10699—during a ceremony at the Foro de Intramuros in Manila. Joing the First Couple are Philippine Sports Commission chairman Patrick “Pato” Gregorio and Philippine Olympic Committee president Abraham “Bambol” Tolentino. POC PHOTO

PSC transforms Rizal Memorial into functional, striking complex

THE Philippine Sports Commission (PSC) has reestablished the iconic Rizal Memorial Sports Complex (RMSC) as a functional modern sports facility with a new look that could rival even the most attractive parks in the country. A nd on Thursday, PSC chairman Patrick “Patò” Gregorio presented to media a handsome RMSC that’s no longer dilapidated and consumed by time and the forces of nature.

“ This will be the new Rizal Memorial Sports Complex in 2026, something that you will be proud of,” Gregorio said.

“This is the goal—to improve all sports facilities for all our athletes and fellow Filipinos as they deserve better.”

The RMSC turns a century old in two years—the Art Deco designed complex was constructed in 1927 for the country’s hosting of the 1934 Far East Games, forerunner of the Asian Games.

A lthough stacked with history, including serving as a garrison for Japanese forces during World War II, the RMSC was tested by time and nature and was branded as “obsolete and antiquated” and even offered for sale to commercial and high-rise residential developers.

Now, the complex didn’t just undergo a facelift, but a massive rehabilitation complete with a world-class tennis court and functional multi-purpose gyms and offices.

The complex also now has a Media Center of its own—one that looks like the Presidential Communications Office press conference center in Malacañang.

The PSC, Gregorio said, is gung-ho in infrastructure following a committed P37 billion funding from the Philippine Amusement Corp. and more from the Philippine Charity Sweepstakes Office. Gregorio and PAGCOR, through its chairman Al Tengco, already threshed out the procedure on how the sports agency would retrieve its funds from the gaming body.

It will be done within the next 10 years,” Gregorio said.

The Department of Public Works and Highways, according to Gregorio, was also instrumental in the infrastructure effort, which would also spread in the provinces through the PSCestablished regional training centers.

The public will get to see firsthand the new-look RMSC during the inaugural Philippine Women’s Open Tennis Women’s Tennis Association125 starting Monday. Josef Ramos

Bisera leads charge in Ladies Masters

FOUR stalwarts of the Ladies Philippine Golf Tour (LPGT) lead the country’s bid in the International Container Terminal Services Inc. Philippine Masters which reels off February 4 at Summit Point Golf and Country Club in Lipa City. F lorence Bisera bannered the Filipina charge in the

By Josef Ramos

for ninth, and Daniella Uy, who finished joint 22nd with former China Tour campaigner Mafy Singson. The four,

lead in Game 2 set at 7:30 p.m. in the same Antipolo City facility.

T he numbers spoke of themselves but Williams’s veteran smarts also made the night difficult for San Miguel Beer’s June Mar Fajardo.

Fajardo finished with 24 points but was practically a dud in the fourth period where he was limited to only four points—an anemic performance that negated the nine-time MVP’s 17 rebounds.

T NT coach Chot Reyes will always be on the same page with Williams—who he pulled out of retirement six years ago. “ We’re looking for players who can play defense, set some screens and make the right pass,” Reyes said. “Kelly [Williams] makes those decisions, showing a valuable leadership as a veteran by making the right plays when he has the ball.”

C alvin Oftana and Jordan Heading finished with 13 points each, Henry Galinato contributed 12 points, Rey Nambatac had 11 and Simon Enciso 10 points in TNT’s Game 1 victory. Head coach Leo Austria said his Beermen have done their homework and are ready to go for the equalizer.

“ They were able to contain our shooters with their defense,” Austria said. “But it is still a long series. We will make our adjustments.”

S an Miguel Beer scorer Marcio Lassiter only made three attempts and missed all of them, while Don Trollano had four looks from the three-point zone but made none—he averaged 15 points before Game 1 where he was 1 of 7 for the night.

Mo Tautuaa scored 22 points and CJ Perez had 16 points, seven rebounds and six assists in Game 1.

THE gold medalists in the 33rd Southeast Asian Games lead a long list of personalities who will be feted with Citations in the 2025 Philippine Sportswriters Association-San Miguel Corp. Awards Night on February 16 at the Diamond Hotel Manila. Triple gold medalist Kayla Sanchez lead the Philippine contingent that scored significant victories in last

DOTr@127

Editor: Francine Medina | Project Manager: Rodel Suarez

Keeping the PHL moving: DOTr’s 127-year mission in modern transport

As the DOTr marks its 127th anniversary, the occasion places current reforms within the context of a long institutional mandate to keep the country moving.

By John Eiron R. Francisco

EVERY day, millions of Filipinos rely on streets, railways, ports, and airports to move people and goods across the country. With systems that are increasingly visible and understood, transportation plays a critical role in shaping commerce, daily routines, and economic activity.

For more than a century, the Department of Transportation (DOTr) has overseen this complex network. From early railways to today’s integrated roads, airports, and maritime services, its policies coordinate the use of infrastructure and reflect government priorities during both stable periods and challenging times.

However, persistent structural imbalances remain, particularly in urban centers. In Metro Manila, for instance, about 70 percent of trips rely on public and active transportation, yet these modes account for only 20 percent of available road space. Private vehicles, which consist of roughly 30 percent of trips, occupy the remaining 80 percent.

A 2017 projection by the Japan International Cooperation Agency (JICA) warned that economic losses from traffic congestion in Metro Manila could reach P5.4 billion daily by 2030 if no interventions are implemented, significantly higher than the P3.5 billion estimated in 2017.

In 2025, the DOTr allocated P103.05 billion for infrastructure projects across the railway, aviation, maritime, and road sectors. Of this amount, P93.33 billion, or 90.57 percent, had been obligated, while P59.63 billion, equivalent to 63.89 percent, had been disbursed.

During the year, the department emphasized transport modernization and improved accessibility. Ridership data showed an increase in usage of major public transport systems, with the EDSA Busway serving 66.7 million passengers, up from 63 million in 2024. Total ridership on the busway has surpassed 341 million since operations began in June 2020. The Metro Rail Transit Line 3 (MRT-3) likewise reported 141.6 million passengers in 2025, higher than the 135.9 million recorded the previous year.

Despite these milestones, the DOTr remains committed to refining the systems and accelerating key projects to ensure safer, more efficient, and more accessible transport for all Filipinos.

O n January 21, 2026, the DOTr marked its 127th anniversary in public service. Acting transportation secretary Giovanni Z. Lopez highlighted the de-

partment’s commitment to implementing and completing big-ticket infrastructure projects aimed at delivering tangible benefits to Filipinos, in line with directives from President Ferdinand R. Marcos Jr. to modernize transport systems and enhance efficiency.

“Lahat po ng pondong inilaan para sa mga imprastraktura, diretsong mapapakinabangan ng mga Pilipino [All funds allocated for infrastructure will directly benefit Filipinos],” Lopez said during the Big bold Reforms Economic Forum organized by the Department of Finance (DOF) and Bangko Sentral ng Pilipinas (BSP).

For 2026, the DOTr has allocated P74.5 billion for flagship infrastructure projects, including the 147-kilometer North-South Commuter Railway (NSCR), Metro Manila Subway Project, MRT-7, and the rehabilitation of MRT-3.

On the road front, modernization continues with the EDSA Busway while construction of the Cebu Bus Rapid Transit (Cebu-BRT) and the Davao Public Transport Modernization Project are being fast-tracked.

A irport development also remains a priority. The recent inauguration of the upgraded Antique Airport last January 19, together with the ongoing expansion of Ninoy Aquino International Airport, aim to enhance regional connectivity and stimulate local economies.

Meanwhile, the expansion of Davao International Airport, expected to be completed by the second quarter of 2027, is already progressing steadily, with construction reportedly at 30 percent completion.

In the maritime sector, the DOTr is positioning seaports as competitive, predictable, and investmentready hubs that support trade, tourism, logistics efficiency, and the clean energy transition.

Siargao Airport’s new passenger terminal, scheduled to open in April 2026, will expand capacity from 200 to 750 passengers, while the Port of Jubang in Dapa, Surigao del Norte, will serve as a dedicated cruise facility to boost tourism.

The department is also advancing road infrastructure, targeting the completion of key sections in SLEX, CALAX, the Cavite-CALAX

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Friday, January 23, 2026 | www.businessmirror.com.ph

Beyond infrastructure: How the DOTr builds its people-centered transport agenda

IN its 127th year, the Department of Transportation (DOTr) continues to build transport infrastructure projects that not only boost the economy but also alleviate the daily struggles of Filipino commuters.

The DOTr, led by Secretary Giovanni Lopez, shares President Ferdinand R. Marcos Jr.’s vision of fast-tracking reforms and flagship projects to improve connectivity and mobility, reduce logistics costs, and enhance the country’s competitiveness across maritime, rail, road, and aviation sectors.

“For us at the DOTr, every project we build is ultimately about easing the daily burden of our commuters. On our 127th year, we are doubling down on our commitment to deliver transport projects that are reliable, safe, affordable, and accessible to all,” Secretary Lopez said.

W hile advancing major transport projects and protecting passenger welfare, the DOTr also works closely with its partner communities, ensuring that development is inclusive and that the benefits of progress reach even the most vulnerable sectors as the nation advances toward Bagong Pilipinas.

RAILWAYS

DOTr’s railways sector: fasttracking rail infra for improved mass transportation

The DOTr continues to prioritize the rapid completion of major railway projects and modern rail initiatives in and beyond Metro Manila. These efforts aim to reduce daily travel times, improve access to jobs and services, and drive economic activity.

Billed as the Philippines' "Crown Jewel" of mass transit systems, the 33-kilometer Metro Manila Subway (MMSP) will cut across six cities from Valenzuela to Parañaque City.

Once completed in 2032, the subway will cut travel time from Valenzuela City to Ninoy Aquino International Airport (NAIA) from one hour and 30 minutes to just 41 minutes, while servicing over half a million passengers daily.

A s of December 2025, DOTr has made significant progress as it acquired a total of 90.76% right-ofway (ROW) and properties for the Metro Manila Subway Project.

A nother flagship railway project of the government is the NorthSouth Commuter Railway (NSCR) – a 147-km rail line that can serve 800,000 passengers daily, and will

connect key cities in Pampanga, Bulacan, Metro Manila, and Laguna.

L ast year, the DOTr held a series of successful roadshows in Paris, Singapore, Manila, and Japan, attended by global railway operators who expressed their interest in operating and maintaining the NSCR.

DOTr Undersecretary for Railways Timothy John Batan said, “Investors vote with their presence, and the participation we've seen across our roadshows proves the NSCR is viewed as a viable investment. By integrating market feedback, we are ensuring this concession is competitive, sustainable, and worthy of their investment.”

A s the DOTr ramps up its

right-of-way and site acquisition efforts, the agency also makes sure the project-affected persons (PAPs) are not neglected and are relocated to livable and safe communities.

For MMSP, the DOTr has already completed the relocation of its 234 affected families as of March 2025.

Transportation Assistant Secretary for Right-of-Way and Site Acquisition, Irish Calaguas, said that providing relocation for the remaining residents affected by the agency’s projects, such as the NSCR, remains a top priority.

“Utos po ng Pangulo na huwag pabayaan ang mga kababayan natin kung saan ang mga bahay ay tinamaan ng konstruksyon ng mga proyekto. It’s our commitment that they are not neglected,” Asec. Calaguas said.

Fruit and vegetable vendor Amanda Magat now resides in one of the 312 constructed row-house units in San Fernando View Residences Phase 3 in Barangay Panipunan in San Fernando City, Pampanga.

“Dati po sa isang bubong samasama kami, ngayon po may kanya kanya na kaming bahay. Nagpapasalamat po kami sa mga nag ayos ng paglipat namin mula sa riles,” Magat said.

Meanwhile, Jenelyn Sta. Maria, another PAP, plans to expand her arts business and sari-sari store in the relocation site.

“Mas napabuti po kami dito dahil una safe ang mga anak ko. Maganda po ang pagkakagawa sa bahay. Talagang ever since pangarap na po namin magkaroon ng sariling bahay. Natupad sa tulong ng gobyerno natin kaya maraming salamat po,” Sta. Maria said. Mother and son, Mercedita and Jason Suba, who just lost their patriarch last October, expressed confidence that they can move on with their lives in their new house at the relocation site.

“Ok na kami ngayon dito. Yung bahay dito maayos at napakaganda. Tapos tahimik saka malakas ang tubig. Hindi kami nag aalala na may mga taong masama. Nagpapasalamat kami sa gobyerno,” Jason said.

Out of the 312 constructed row house units, 311 have been allocated and awarded to the qualified PAPs originating from the 11 affected barangays in San Fernando City, Pampanga.

Focus on priority passengers

The DOTr has also implemented several fare discount programs in LRT-1, LRT-2, and MRT-3 to cushion the daily burden of commuters. These include the ‘Pamilya Pass 1+3’ promo, which runs every Sunday, wherein one full-paying passenger can bring up to three family members for free, and the daily 50% discount for students, senior citizens, and persons with disabilities (PWDs).

L ast December, the department launched its first-ever successful holiday project dubbed as the “12 Days of Christmas – Libreng Sakay” program from December 14 to 25, 2025. The major rail lines served a total of over 2.8 million passengers, recognizing various sectors in society and drawing positive feedback from a broad range of different groups.

Recently, the DOTr also an-

nounced the adoption of the Accessible Travel Policy for all railway operations and maintenance providers nationwide to promote inclusivity and an enabling environment in rail lines, especially for PWDs, senior citizens, and pregnant passengers. Under the Department Order No. 2025-024, railway operators must implement staff training on disability awareness and gender sensitivity, wheelchair boarding assistance, and accessible information formats, among others.

On the way to railway renaissance

The DOTr looks forward to 2027 as a banner year for the Philippine railways industry, with major rail projects expected to be inaugurated, including the highly anticipated MRT-7.

To date, the construction of the MRT-7 is 82.02% complete, covering the first 12 stations from North Avenue in Quezon City to Sacred Heart in Caloocan, which can service up to 300,000 passengers daily.

The DOTr also expects to commence the commercial operations of NSCR’s Valenzuela to Malolos segment by 2027, and the Malolos to Clark segment by 2028.

Meanwhile, the MMSP will have its first demo run of the subway trains in 2028 and is scheduled to start full commercial operations in 2032.

ROAD

The DOTr is also focused on fasttracking improvements in the road sector for the immediate benefit of commuters.

The EDSA Busway served a total of 66,669,287 passengers in 2025, an increase from the 63,022,953 passengers recorded in 2024.

With this huge support from the riding public, the DOTr continues to modernize the EDSA Busway corridor through the EDSA Busway Rehabilitation Project, which aims to equip the stations with escalators and elevators to ensure accessibility and convenience for commuters, especially for senior citizens, people with disabilities (PWDs), and pregnant passengers.

In line with this, rehabilitation works are currently ongoing at the Monumento, Bagong Barrio, North Avenue, and Guadalupe stations of the EDSA Busway.

Commuters can also look forward to the inauguration of the newly rehabilitated EDSA Busway Kamuning Station and Footbridge in February 2026, as well as the building of three (3) additional busway stations in Cubao, Magallanes, and PITX, targeted to be completed in January 2027.

Digitalization efforts have also been implemented within the EDSA Busway, including the launch of cashless payment options last December, and the installation of free public WiFi this January, with the help of the Department of Information and Communications Technology (DICT).

Free Love Bus rides

The agency has also revived the Love Bus “Libreng Sakay Program, which was first introduced on 14

February 1975.

In July 2025, the DOTr successfully relaunched the program in pilot routes in Metro Cebu and Metro Davao, then eventually in Metro Manila last September. As of 31 December 2025, 4,133,876 passengers have benefited from the Love Bus Libreng Sakay Program.

Beyond the Metro

The Department also marks a significant milestone in advancing Cebu with the substantial completion of Package 1 of the Cebu Bus Rapid Transit (CBRT) Project. Implemented in partnership with the Cebu City government, Package 1 spans 2.38 kilometers of dedicated BRT lanes, with three key stations. Together with the Expansion of the Love Bus Libreng Sakay in Cebu, Package 1 will service 70,000 passengers daily. O ver in Davao, the Department is also set to mark a major milestone for the city through the Davao Public Transport Modernization Project.

Together with the Davao City government, the DOTr has successfully laid the groundwork for a modern bus network for the whole city with a projected ridership of 800,000 per day.

The target partial operations in two routes are slated in the third quarter of 2027, with full operations scheduled in the fourth quarter of 2028.

We now have the momentum to deliver road-based transport solutions for our commuters. We are inspired by how we can provide them with shorter travel times, safer terminals, and more accessible facilities. The DOTr will continue with its work and will remain responsive to the needs of our people,” Undersecretary for Road Transport and Infrastructure Mark Steven Pastor said.

Active Transport Program

The DOTr also continues to fast-track its Active Transport Infrastructure Projects. Across nine regions and in more than 40 cities, the DOTr has established a 982-kilometer network of cycleways and walkways.

Th is is supported by facilities designed to provide comfort and security, including 16 solar-powered public transport stops featuring integrated charging stations and wayfinding signage, alongside 68 cycle sheds (equipped with cycle racks and repair stations), and 738 cycle parking racks.

AVIATION

The Civil Aviation Authority of the Philippines (CAAP) continues to heed the President’s directive to modernize the country’s aviation sector to boost regional connectivity and strengthen air transport safety and operational efficiency to meet internationally recognized standards.

According to the ACI World Traffic Forecasts 2023–2052, the Philippines ranks third globally in projected passenger growth, with a compound annual growth rate of 13.8 percent among countries handling 25 to 100 million passengers. In light of this projected growth, CAAP remains committed to future-proofing the Philippine aviation industry.

Airport modernization and development

President Marcos Jr. recently inaugurated the new Antique Airport, which now features a terminal building that has expanded its space from 181 sqm to 2,224 sqm. This increased the seating capacity from 64 to 360 passengers. Continued on C4

DOTr@127

Keeping the PHL moving: DOTr’s 127-year mission in modern transport

Link Expressway (CCLink), C-5, and Skyway Stage 3 to make land travel faster and more convenient for motorists.

With this, we are very much committed to continuing our efforts to expedite the completion of all existing projects and deliver them within the timeline,” the transportation secretary said. Lopez added, “We want to ensure the public and our investors that the budget will be spent efficiently to make sure that our projects truly address the needs of our commuters.”

Moreover, commuters along all 17 stations of the EDSA Busway now have access to free, secure, and reliable internet connectivity following the rollout of the Free Wi-Fi for All program, a joint initiative of the DOTr and the Department of Information and Communications Technology (DICT).

Lopez said the service allows passengers to use cashless payment options, stay connected with family, and remain online while traveling to work, school, or other destinations.

“Kung ang iba’t-ibang ahensya ng gobyerno ay nagtutulungan, makapagbibigay ang pamahalaan sa pangunguna ng Pangulo ng mas epektibo at mas magandang [When different government agencies work together, the government, led by the President, can provide more effective and better] public service,” he said.

A s the DOTr marks its 127th anniversary, the occasion places current reforms within the context of a long institutional mandate to keep the country moving.

Ongoing rail, road, airport, and maritime projects signal an effort to address capacity gaps and improve connectivity, even as congestion and urban transport imbalances remain pressing concerns.

How these initiatives will effectively translate into everyday commuter gains will depend on timely execution, efficient use of public funds, and continued coordination across agencies. In this sense, the anniversary is less a celebration than a benchmark, measuring how past lessons inform present decisions and shape the future of Philippine mobility.

Beyond infrastructure:

The airport’s check-in counters were also increased from two to six. With its developed ramp, the airport can now accommodate up to four jet aircraft simultaneously, increasing operational capacity.

Secretary Lopez said the new Antique Airport is proof that the government can build high-quality transport infrastructure even at low cost.

Even the President was amazed at how we were able to build the passenger terminal building for only P126 million. This proves that with the judicious spending of government funds, we can do more without sacrificing the structure’s integrity, and Filipinos can enjoy the full benefits that airport facilities like these offer. And this will always be the DOTr’s direction moving forward,” the transport chief said.

Other regional airports, including Iloilo International Airport, Tacloban Airport, Bukidnon Airport, Siargao Airport, Butuan Airport, Ozamiz Airport, and Dipolog Airport, are also undergoing development and modernization to support the country’s growing aviation demand.

Meanwhile, the new passenger terminal building of Siargao Airport is also expected to be completed in April this year, expanding its passenger capacity from 200 to 750.

Public Private Partnership

The DOTr and CAAP are closely working with the Public-Private Partnership (PPP) Center in engaging private sector services to modernize regional and international

airports nationwide.

L ast year, CAAP successfully turned over the operations of Laguindingan and Bohol-Panglao International Airports to Aboitiz InfraCapital Inc. (AIC), with at least ten additional regional airports slated for privatization within the term of President Marcos.

There is a pending unsolicited proposal for air navigation, as well as the establishment of a second CNS/ ATM system.

The government’s strong partnership with the private sector is also highlighted in the efforts of the New NAIA Infrastructure Corporation (NNIC) in modernizing the country’s main gateway.

The NNIC has so far remitted a total of Php57 billion to the national government since the operations and maintenance of NAIA were turned over to them in 2024.

Major upgrades were recently implemented in NAIA, including the new biometric e-gates, selfcheck-in kiosks and bag drop counters, new dignitaries' lounge, OFW Lounge, Tambayan and Mezzanine Food Halls, as well as the Airside Food Village.

Aviation personnel and

training

Meanwhile, CAAP continues its personnel development training through the implementation of a comprehensive and ongoing training program for new personnel. CAAP likewise has established an Airmen Examination Board (AEB) Examination Center at CAAP Mactan-Cebu. Examination centers in Davao City and Clark, Pampanga, are also expected to be operational within the year. These will decon-

gest the Manila testing center and improve regional access for airmen.

Future-proofing

PH aviation

As CAAP ramps up preparations for this year’s ICAO Universal Safety Oversight Audit Programme (USOAP), CAAP reaffirms its commitment to upholding international aviation safety standards.

These initiatives form part of a broader strategy to future-proof Philippine aviation, ensuring that the country’s air transport sector remains safe, efficient, and globally competitive in the face of rising air traffic demand.

We are committed to ensuring that our airspace, infrastructure, and workforce are prepared for the challenges ahead. Through continuous improvement and adherence to international standards, we are future-proofing Philippine aviation for generations to come,” said CAAP Director General Retired Lt. Gen. Raul Del Rosario.

MARITIME

For years, the Philippine Ports Au-

thority (PPA) has stood as one of the DOTr’s most reliable implementing arms, ensuring the smooth flow of passengers, goods, and economic activity across the country’s port system.

A solid performer in numbers, year after year

In 2025, total ship calls reached 664,817, registering an increase from the previous year. Cargo throughput likewise posted robust growth, reaching 308.5 million metric tons in 2025, up from 289.4 million metric tons in 2024.

Passenger traffic also recorded a strong performance, with 82.49 million passengers served in 2025, up from 78.81 million in 2024 and 73.64 million in 2023, reflecting Filipinos’ continued reliance on sea travel for inter-island mobility.

Meanwhile, cruise tourism showed a remarkable recovery, with 192,426 cruise passengers recorded in 2025, significantly higher than 150,903 in 2024, signaling renewed confidence in the Philippines as a cruise destination.

Roll-on/Roll-off (RoRo) traffic reached 12.81 million in 2025, up from 11.31 million in 2024, further reinforcing the importance of RoRo ports in logistics efficiency, regional trade, and countryside development.

In 2025, the PPA reaffirmed its position as one of the government’s top-performing agencies, generating P24.97 billion in revenues during the first ten months of the year.

Taken together, these figures affirm the PPA’s consistent performance as a key economic enabler under the DOTr, demonstrating resilience, operational growth, and a sustained commitment to improving the country’s port infrastructure and maritime services.

Beyond the ports: PPA cares.

Beyond operational excellence, the PPA remains steadfast in its commitment to public service and social responsibility through its “PPA Cares” initiatives, which focus on passenger welfare, disaster response, and environmental sustainability.

A mong these programs is the PPA ‘Lugaw’ initiative, under which

SUZUKI DZIRE AND FRONX DELIVER STRONG FUEL EFFICIENCY RESULTS AT DOE

SUZUKI Philippines Incorporated (SPH) reinforces its commitment to fuel-efficient and practical mobility solutions as the Suzuki Dzire Hybrid GLX CVT and Suzuki Fronx Hybrid SGX AT posted strong performances at the recently concluded Department of Energy (DOE) CY2025 Fuel EcoRun (FER) held on 24 September 2025 at the Tarlac–Pangasinan–La Union Expressway (TPLEX).

The DOE Fuel Eco-Run aims to promote fuel efficiency awareness among motorists and encourage automotive manufacturers to develop vehicles that help reduce fuel consumption and emissions. Suzuki participated under the Internal Combustion Engine (ICE) category, showcasing two of its fuel-efficient hybrid models in the Philippine market.

Based on the official results released by the DOE, the Suzuki Dzire Hybrid GLX CVT achieved an impressive 36.10 km/Lge gasoline-equivalent fuel economy, highlighting its class-leading efficiency for daily city

and long-distance driving. Meanwhile, the Suzuki Fronx Hybrid SGX AT recorded a strong 24.69 km/Lge, underscoring the model’s balance of performance, style, and fuel efficiency for modern, active lifestyles.

“ These results affirm Suzuki’s philosophy of delivering practical and efficient vehicles that respond to real-world driving conditions,” said Mr. Norihide Takei, Director and General Manager of the Automobile Division of Suzuki Philippines Incorporated. “The DOE Fuel Eco-Run is an important platform that objectively measures fuel efficiency, and we are proud that both the Dzire Hybrid and the Fronx Hybrid demonstrated strong performance under standardized testing.”

Mr. Takei added, “Fuel efficiency is not just about savings—it is about sustainability and responsible mobility. Through models like the Dzire Hybrid and Fronx Hybrid, Suzuki continues to support the government’s efforts toward energy conservation while providing Filipinos with

hot meals and food assistance are distributed to stranded passengers, particularly during trip cancellations caused by adverse weather conditions and port congestion.

The PPA also extends humanitarian assistance to disaster-affected communities. Notably, relief support was provided to residents affected by Typhoon Kristine in Agoncillo, Batangas, where eighty-five (85) families received Pamaskong Handog consisting of grocery packages and sacks of rice.

To further strengthen emergency preparedness, the PPA partnered with the Department of Social Welfare and Development (DSWD) in June 2025 for the provision of Ready-to-Eat Food (RTEF) packs, which are pre-positioned in PPA-managed ports.

The Authority also supports schools through its Panta-love program, benefitting around 500 students of Manila Science High School through the donation of educational and office equipment.

Complementing these efforts, the PPA joined the launch of the country’s first six-month schoolbased feeding program for Grades 1 to 6, led by Rise Against Hunger Philippines in partnership with the Department of Education and the Quezon City local government.

The PPA also actively advances mangrove planting and coastal clean-up activities as part of its environmental protection and climate resilience programs. As of June 2025, a total of 18,916,537 mangrove trees have been planted nationwide under PPA-led environmental programs.

Bagong Pantalan, Bagong Pilipinas

As the country moves forward under the banner of “Bagong Pilipinas,” the PPA continues to modernize port infrastructure and enhance service delivery to support national development under the “Build, Build More” agenda.

Under the vision of Bagong Pilipinas and the Build, Build More agenda, the PPA continues to modernize ports nationwide. Each upgraded terminal, expanded pier, and modern facility brings us closer to a more integrated and competitive archipelagic economy,” said PPA General Manager Jay Santiago. In April last year, the President led the inauguration of the P430.39-million Balingoan Port Expansion in Misamis Oriental, which serves as a vital transport and economic hub connecting Northern Mindanao to the islands of Camiguin and Bohol. The newly modernized Batangas Passenger Terminal Building—the most advanced under the PPA—significantly increased passenger capacity and strengthened nationwide connectivity.

In Negros Occidental, the new Port Operations Building at Banago improved safety and efficiency amid rising post-pandemic traffic, while the community port project in Tigtabon Island, Zamboanga City, enhanced mobility and livelihoods for island residents.

reliable, economical vehicles they can depend on every day.”

Suzuki Philippines also expressed its appreciation to the Department of Energy for recognizing the brand’s participation and support in promoting energy-efficient transportation. The company remains committed to offering vehicles that combine efficiency, reliability, and value, aligned with the evolving needs of Filipino motorists.

With the strong showing of the Dzire Hybrid and Fronx Hybrid at the DOE CY2025 Fuel Eco-Run, Suzuki once again reinforces its position as a trusted brand for fuel-efficient mobility in the Philippines.

For more information, you may check out any authorized Suzuki Auto dealerships nationwide or visit http://suzuki.com.ph/auto/

For daily updates on Suzuki, please like Suzuki Auto PH’s Facebook page at https://www.facebook.com/ SuzukiAutoPH, follow them on X at https://x.com/SuzukiAutoPH, and Instagram at @suzukiautoph.

This year, the DOTr and PPA will inaugurate the Port of Jubang in Dapa, Surigao Del Norte—a dedicated cruise facility designed to boost tourism by accommodating international cruise ships, which will serve as a gateway to Siargao Island’s beaches and surfing activities.

CLOSING

These accomplishments in the transportation sector have created a much broader and overarching spectrum of opportunities for the country’s development by shoring up the economy.

By addressing infrastructure bottlenecks and gaps, the DOTr is advancing its long-term commitment to mobility and connectivity across the archipelago.

A s Secretary Giovanni Lopez leads the DOTr in this pivotal moment, the transport agency assures commuters and passengers, partners, businesses, and other stakeholders that the President and the DOTr chief’s main goal is to provide Filipinos with an efficient, modern, comfortable, safe, and affordable Philippine transport system that they truly deserve.