10-month net income of PPA spikes 50% By Lorenz S. Marasigan
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PASSPORT TO PROGRESS Tourism Secretary Christina Garcia Frasco, together with
Bella Lai, Regional Head for Southeast Asia of Visa Government Solutions; Trifina Sala, Head of Government Solutions for Visa Philippines; and Undersecretary Shalimar Hofer Tamano, DOT Chief of Staff, lead the ceremonial signing of the Memorandum of Understanding between the Department of Tourism and Visa at the DOT Main Office in Makati City on Thursday, November 27, 2025. The partnership seeks to strengthen the Philippines’ tourism recovery by using data-driven insights, digital tools, and secure payment innovations to refine marketing strategies, elevate the visitor experience, and enhance the global competitiveness of local destinations. ROY DOMINGO
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HE Philippine Ports Authority (PPA) on Thursday reported strong financial results for the first 10 months of 2025, with net income jumping more than 50 percent year-on-year as cargo, container, and passenger traffic continued to rise across the country’s port network. Jay Daniel Santiago, the agency’s general manager, reported that net income after tax surged 50.76 percent to P10.67 billion from P7.08 billion in the same period last year. Revenues for the January-to-October period climbed 10.57 percent to P24.97 billion from P22.58 bil-
lion a year earlier. He attributed the strong performance to increased vessel and cargo traffic, favorable dollar-denominated tariffs, higher storage fees, and improved regulatory income. “We are pleased to share that the PPA continues to register consistent improvement across all operational indicators. We can attribute this to good and transparent fiscal management of PPA,” he said. Cargo throughput reached 262.84 million metric tons, up 7.47 percent from 244.58 million metric tons in the year-ago period. The growth was driven by steady demand for construction materials, ongoing infrastructure projects, mining ac-
tivities, and rising exports of raw minerals. The agency expects cargo volumes to hit at least 301.47 million metric tons by year-end. Container traffic expanded 11.04 percent to 7.14 million twenty-foot equivalent units from 6.43 million TEUs, with the port chief citing digitalization programs such as the Terminal Appointment Booking System (TABS), the strengthened public-private partnerships, and expansion of domestic shipping fleets as key contributors. Container throughput is projected to exceed 8 million TEUs for the full year. Passenger movement increased
5.25 percent to 69.13 million from 65.68 million, supported by domestic tourism and a strong cruise sector that has welcomed more than 150,000 passengers as of October— a 78 percent year-on-year increase. With the Christmas travel season approaching, the agency expects passenger traffic to reach 85.41 million by year-end. Ship calls rose 7.95 percent to 558,534 from 517,411, indicating stronger domestic shipping activity and enhanced maritime connectivity. Santiago said the agency is “confident in meeting its 2025 targets” given the “strong revenue and operational performance as of October 2025.”
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Friday, November 28, 2025 Vol. 21 No. 51
P25.00 nationwide | 2 sections 20 pages | 7 DAYS A WEEK
By Reine Juvierre S. Alberto @reine_alberto
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TANDARD & Poor’s (S&P) Global Ratings affirmed its longterm “BBB+” and “A-2” short-term sovereign investment-grade credit ratings and maintained its positive rating outlook on the Philippines.
In a report, S&P Global Ratings affirmed the Philippines’ “BBB+” long-term and “A-2” short-term sovereign credit ratings. An investment-grade credit rating will allow the government to borrow at cheaper costs, freeing up resources for essential services
and infrastructure. It will likewise support businesses access more affordable financing, supporting expansion and job creation. “The positive rating outlook reflects our view that the Philippines See “S&P,” A2
NOT JUST SALN: GROUPS PUSH MANDATORY LIFESTYLE CHECK By Andrea E. San Juan @andreasanjuan
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ANDATORY lifestyle checks should be conducted to validate the Statements of Assets, Liabilities and Net Worth (SALNs) of government officials, according to six business and civil society groups. In a statement, the concerned groups asserted the need to go beyond scrutinizing SALNs, saying these records are not enough to weed out corruption in government. “We call for truthful and
public submission of SALNs by all government officials, and mandatory lifestyle checks to validate these disclosures,” the groups underscored in a statement on Thursday. These business and civil society groups are the Justice Reform Initiative (JRI), Financial Executives Institute of the Philippines (FINEX), Institute for Solidarity in Asia (ISA), Makati Business Club (MBC), Management Association of the Philippines (MAP) and Shareholders’ Association of the Philippines See “SALN,” A2
FROM BARRACKS TO BETHLEHEM The Armor Division’s “Armor Division Belen” showcases a unique fusion of military precision and festive artistry at 18th Belenismo sa Tarlac in Capas, Tarlac. On November 23, students performed before the AFP NolCom Belen in Tarlac City during the final judging of the contest—a celebration of creativity, faith and community spirit under the glow of Christmas-themed nativity scenes. This entry stands out as a symbolic testament to discipline, craftsmanship, and the Filipino Christmas tradition. BERNARD TESTA
Marcos to ‘safeguard economic stability’ By Samuel P. Medenilla
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ROTARY HOSTS PHIVOLCS Rotary Club of Manila President Raoul Creencia welcomes
keynote speaker Dr. Teresito Bacolcol, director of the Department of Science and Technology– PHIVOLCS, during the club’s 14th Weekly Membership Meeting held at the Manila Polo Club in Makati City. ROY DOMINGO
@sam_medenilla
RESIDENT Ferdinand R. Marcos Jr. has vowed that his government will create the necessary conditions that will enable the economy to grow faster. Marcos made the pronouncement after he met with Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona on Wednesday to review the October 2025 policy decision and the
country’s economic outlook. “The President reaffirmed his commitment to safeguarding economic stability and creating conditions for sustained, broad-based growth for all Filipinos,” the Presidential Communications Office (PCO) said in a statement. The Monetary Board decided to push through with the lowering of interest rates after inflation eased to 1.7 percent to “support more affordable borrowing for families
and businesses.” “The good news is, the inflation outlook was good enough for the Philippines to be confident about reducing the policy rate,” PCO said. For 2026, however, the inflation forecast is about 3.1 percent, which is higher than the average print of 1.7 percent in January to October. The PCO noted that the figure still falls within the government’s target range of 2 percent to 4 percent. In 2027, the inflation outlook is
about 2.8 percent. The country’s economic growth slowed to 4 percent during the third quarter of the year due to the impact of natural calamities and the flood control project investigations, which resulted in lower government spending. Remolona, who chairs the Monetary Board, said the reduced interest rate will help “stimulate more demand.” See “Marcos,” A2
PESO EXCHANGE RATES n US 58.8350 n JAPAN 0.3760 n UK 77.9211 n HK 7.5640 n CHINA 8.3154 n SINGAPORE 45.3589 n AUSTRALIA 38.3310 n EU 68.2309 n KOREA 0.0400 n SAUDI ARABIA 15.6868 Source: BSP (November 27, 2025)