CEREMONIAL TOAST TO THE OPENING OF SM SEASIDE CEBU ARENA
FROM left: Venue Operations Head Arlett Mendoza; Sales and Partnership Head Michelle De Guzman; Business Development Head Jojo Estacio; Steven Tan, President of SM Supermalls; Vice Governor Glenn Anthony Q. Soco; Chico Sy, President of SM Engineering, Design, and Development Corp. (SMEDD); Hans T. Sy, Chairman of the Executive Committee; Mayor Nestor D. Archival Sr.; Jeffrey C. Lim, President and Chief Executive Officer of SM Prime Holdings, Inc.; Dr. Elise Nicole Catalan; John Patrick "Pato" C. Gregorio, Chairperson, Philippine Sports Commission (PSC); Arnel C. Gonzales, Vice President and General Manager, SM Arena Complex Corporation; Marissa Fernan, Vice President, SM Prime Holdings, Inc.; Ace Durano, Provincial Administrator of Cebu; Assistant General Manager Ria M. Babista; Event Operations Head Mara De-Pano Agena; and Senior Bookings Manager Hana Sanos.
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Officials, government leaders, business partners, and guests raise a ceremonial toast during the launch of the SM Seaside Cebu Arena in Cebu City on July 9, 2026. As SM Prime Holdings' second flagship live entertainment venue, the venue brings world-class facilities and a premier event destination that elevates live entertainment, sports, and major events across the Visayas and Mindanao.
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Monday, July 13, 2026 Vol. 21 No. 272
P25.00 nationwide | 2 sections 22 pages | 7 DAYS A WEEK
By Justine Xyrah Garcia
CONOMISTS said the government’s decision to lower this year’s revenue collection target reflects expectations that slower economic growth will weigh on household spending and business activity, limiting the government’s ability to raise taxes. Last week, the Development Budget Coordination Committee (DBCC) lowered the Bureau of Internal Revenue’s (BIR) 2026 collection target by P38 billion to P3.393 trillion after cutting its economic growth forecast to 3.5 percent to 4.5 percent from the previous 5 percent to 6 percent. Despite the lower target, the BIR is still expected to generate roughly three-fourths or 76.4 per-
cent of the government’s tax collections this year. Union Bank of the Philippines Chief Economist Ruben Carlo O. Asuncion said slower economic growth usually means people earn and spend less, while businesses make smaller profits, resulting in lower collections from income taxes, value-added tax (VAT), and other domestic taxes. See “Growth,” A2
CLIMATE, GEOPOLITICS TO KEEP FARM GROWTH FLAT–UA&P ARM
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By Ada Pelonia
HILIPPINE agriculture growth is expected to be flat this year, as climaterelated shocks and geopolitical tensions weigh on domestic production, according to a unit of the University of Asia and the Pacific (UA&P). Despite the rebound that catapulted farm output to a five-year high in 2025, UA&P Center for Food and Agribusiness (CFA) Executive Director Marie Annette Dacul said the gross value added (GVA) of agriculture, fishery, and forestry this year could dip to 0.5 percent or post a 0.5
percent increment. “While it faced a strong recovery in 2025, the Philippine agriculture will face a much flatter outlook this year [...] however, the outlook actually varies across subsectors,” Dacul said in the center’s recent midyear conference. She said the UA&P-CFA expects poultry and livestock production to end the year in a positive territory at 7.5 percent to 8.5 percent and 4 percent to 5 percent, respectively. “Poultry will remain as the sector’s strongest performer, supported by the steady consumer demand and efficiency See “Farm,” A2
KEEPING THE CLAIM AFLOAT A deep-sea fishing boat lies grounded in Masinloc, Zambales, symbolizing the plight of local fisherfolk who have lost access to the rich fishing grounds around Bajo de Masinloc (Scarborough Shoal) after years of Chinese harassment in the West Philippine Sea. Marking the 10th anniversary of the 2016 Arbitral Award, Defense Secretary Gilberto C. Teodoro Jr., Zambales Gov. Hermogenes Ebdane Jr., Zambales 1st District Rep. Doris Maniquiz, and Masinloc Mayor Hazel Lim hold up shirts bearing the slogan “WPS: Tagumpay Natin Ito,” while fisherfolk from Bataan joined a Holy Mass honoring former President Benigno Simeon Aquino III, whose administration initiated the Philippines’s arbitration case against China in 2013. The observance coincided with a joint declaration by Australia, Canada, Estonia, Germany, Italy, Japan, Latvia, Lithuania, New Zealand, Romania, Slovenia, the United Kingdom, the United States, and the Philippines, reaffirming the ruling as “final, legally binding, and definitive” between the Philippines and China. The tribunal’s July 12, 2016, decision found no legal basis for China’s expansive maritime claims in the South China Sea. Related stories on A4 Nation. HENRY EMPEÑO AND NONIE REYES
14 nations affirm support for SCS ruling By Malou Talosig-Bartolome
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OURTEEN countries led by the Philippines, the United States, and the United Kingdom marked the 10th anniversary of the South China Sea Arbitral Tribunal Award by declaring the ruling “final, legally binding, and definitive between China and the Philippines.” The joint statement by Australia, Canada, Estonia, Germany, Italy, Japan, Latvia, Lithuania, New Zealand, Romania, Slovenia, the UK, the US, and the Philippines, described the 2016 arbitral ruling that rejected Beijing’s expansive maritime claims as a “significant milestone.” “We reaffirm the Arbitral Tribunal’s decision that there is no legal basis for China’s maritime claims in the South China Sea, including those based on ‘historic rights,’” the statement said.
PNoy, chief architect of WPS arbitral victory
MEANWHILE, in a separate commemoration, supporters, allies, and representatives of fisherfolk communities gathered Sunday at the tomb of former President Benigno Simeon Aquino III
to commemorate the 10th anniversary of the landmark arbitral victory. President Aquino was cited as the chief architect of the arbitration case the Philippines filed against China in 2013, which led to the historic July 12, 2016 ruling by the Permanent Court of Arbitration invalidating China’s so-called ninedash line claim and affirming the Philippines’s sovereign rights within its 200-nautical-mile Exclusive Economic Zone. The commemoration began with a Holy Mass officiated by Fr. Joseph Patrick Echiverria, who previously served in the Diocese of Palawan and lived among fishing communities that experienced firsthand the effects of China’s encroachment into Philippine waters. A brief tribute program followed. The tribute was organized by the Ninoy and Cory Aquino Foundation (NCAF) and the Liberal Party of the Philippines. Liberal Party President and former Congressman Erin Tañada urged Congress to recognize July 12 as a national day of reflection to preserve the significance of the arbitral victory for future generations.
“We asserted our rights and we won it, just like we did in 1986 when we won EDSA. We will continue to remember this and continue to tell our story to our children and the next generation,” Tañada said. Representing the fishing communities, Restituto “Ka Resty” del Rosario, chairman of the Bagong Pangarap Fishermen Association and the fisherfolk representative to the National Anti-Poverty Commission, thanked President Aquino for defending the country’s maritime rights. Del Rosario recalled the 2019 Lakad Panawagan, when fishermen from Bataan and Zambales walked 135 kilometers over five days— from Olongapo City to the town of Santa Cruz, Zambales—to assert their right to fish freely in the West Philippine Sea. NCAF Executive Director Kiko Aquino Dee paid tribute to his “Tito Noy” by recalling how the late President dealt with the challenges in the West Philippine Sea and the country’s ultimate victory always with grace. For one, following the arbitral ruling, President Aquino described the decision not merely as a victory for the Philippines but for the inter-
national community, Dee said. “It showed that we lived under a rules-based order. It showed that we can settle our differences peacefully. It showed that we can talk to each other and in resolving disputes, we don’t have to resort to violence,” Dee said. President Aquino passed away on June 24, 2021.
Opposed to coercion at sea
THE 14 signatories voiced strong opposition to coercive actions at sea, warning that “the use of coast guard, military, and maritime militia forces to harass or obstruct lawful operations...endanger[s] the safety of personnel and fishermen and seriously degrade regional peace and stability.” The 14 countries added, “We urge the parties to abide by the 2016 Award and resolve disputes peacefully through dialogue and other lawful mechanisms in accordance with international law.” They also stressed the importance of upholding freedom of navigation and overflight, and other “internationally lawful uses of the sea,” as reflected in the UN Convention on the See “SCS ruling,” A2
PESO EXCHANGE RATES n US 61.5830 n JAPAN 0.3793 n UK 82.5766 n HK 7.8594 n CHINA 9.0683 n SINGAPORE 47.6649 n AUSTRALIA 42.7201 n EU 70.4017 n KOREA 0.0409 n SAUDI ARABIA 16.4042 Source: BSP (July 10, 2026)