BusinessMirror
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A broader look at today’s business Saturday, October 4, 2025 Vol. 20 No. 356
EJAP JOURNALISM AWARDS
BUSINESS NEWS SOURCE OF THE YEAR
(2017, 2018, 2019, 2020)
DEPARTMENT OF SCIENCE AND TECHNOLOGY
2018 BANTOG MEDIA AWARDS
HOUSE ENDS PLENARY DEBATES ON ’26 BUDGET WITH NEW AMLC FREEZE n
P25.00 nationwide | 14 pages | 7 DAYS A WEEK
ORDER, IMMOBILIZED ASSETS NOW P4B
By Jovee Marie N. Dela Cruz
T
HE House of Representatives on Friday wrapped up plenary deliberations on the proposed P6.793-trillion General Appropriations Bill (GAB) for 2026, hailing it as the “best and cleanest” national budget that prioritizes programs aimed at directly uplifting the lives of Filipinos.
By Cai U. Ordinario
T
HE Anti-Money Laundering Council (AMLC) has already immobilized over P4 billion worth of assets linked to the alleged irregularities in flood control spending. This was after AMLC secured its fourth freeze order from the Court of Appeals on Friday. The latest order covered 57 bank accounts, 10 real properties, and nine motor vehicles. AMLC expects the latest valuation of frozen assets will increase as the flood control inquiry progresses.
AMLC Executive Director Atty. Matthew M. David: “Every peso frozen is a peso that cannot be used to sustain corruption.”
Continued on A2
PCC probes anti-competitive conduct in flood project bid
“We will make sure...that the 2026 budget will be responsive to the needs of the Filipino people, transparent, and clean.”— Rep. Mikaela Angela B. Suansing
House Committee on Appropriations Chairperson Rep. Mikaela Angela B. Suansing assured the public that the chamber is committed to ensuring that the 2026 national budget remains people-centered, transparent, and accountable. “We will make sure—in the House of Representatives—that the 2026 budget will be responsive to the
HELP ON THE MOVE Aid continues to pour into Masbate and northern Cebu as government agencies and partners mobilize relief for thousands
of survivors reeling from Typhoon Opong and the 6.9-magnitude Cebu quake. The Philippine Red Cross prepares tent shelters for displaced families, PCSO caravans carry food and patient transport vehicles, PHLPost trucks deliver supplies to remote areas, and the Makati LGU deploys a rescue team with medical staff and equipment, while damaged business establishments lie in ruins at the Bogo City pier, highlighting the urgent need for assistance. Stories on A3 and A4 News. PHILIPPINE RED CROSS , PCSO, PHLPOST, CITY GOVERNMENT OF MAKATI, AP/AARON FAVILA
Continued on A2
Events, elderly, emerging markets are shaping global travel–WTTC
Bitcoin hits $120,000 for first time since reaching record high
By Ma. Stella F. Arnaldo
DUSAN ZIDAR | DREAMSTIME.COM
Special to the BusinessMirror
B
ITCOIN rose to $120,000 for the first time since setting a record high seven weeks ago as speculation increases that the US government shutdown will drive investors to safe-haven assets. The original cryptocurrency has long been referred to as “digital gold” by advocates, who see it serving a similar role as the precious metal during times of turmoil. Gold retreated from a record high Thursday. “For the first time in a while, the macro theme seems to have taken hold of Bitcoin, which has seen $1.5 billion of ETF inflows week to date, and appears to be Continued on A2
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LOBAL travel agencies are keen on focusing on events, the elderly, and emerging markets—the Three E’s—as a new wave of travel trends. In a panel discussion on “Focus on the Future” at the recent World Travel & Trade Council’s 25th Global Summit in Rome, Jane Sun, chief executive officer of Trip. com, said the events trend is driven mainly by young travelers, “we call them Events + Travel, [where] young people like to go to Taylor Swift shows, [concerts of] Blackpink, G-Dragon, and the Olympic Games. So we center around these major events and add a travel package that is very popular for young millennial kids.” Trip.com, an international travel service provider in 39 countries and regions, is also selling “Elderlyfriendly” packages. Sun said: “In Asia, people get to retire very early, between 50 and 60...and these people have money. They are very young, very energetic and eager to travel.”
PCC Competition Enforcement Office Director Christian Loren de los Santos, DPWH Secretary Vince Dizon, and PCC Executive Director Kenneth Tanate. PHOTO COURTESY OF PCC
By Andrea E. San Juan
T
HE Philippine Competition Commission (PCC) confirmed on Friday that it received referrals from the Department of Public Works and Highways (DPWH) concerning alleged anticompetitive conduct in the procurement of a flood control project. In a statement on Friday, PCC said the referrals pertain to possible violations of Republic Act No. 10667 or the Philippine Competition Act (PCA) involving St. Timothy Construction Corp., Wawao Builders, IM Construction Corp., SYMS Construction Trading, and officials and employees of the DPWH Bulacan 1st District Engineering Office; as well as Sunwest Inc., and officials and employees of the DPWH Regional Office IV-B. “The referrals include reports, bid documents, and other relevant documents that may support the PCC Competition Enforcement Office’s (CEO) ongoing preliminary inquiry into possible bidrigging and collusion among contractors,” PCC said in its statement. Continued on A2
TRIP.COM Group CEO Jane Sun (second from left) identifies events, elderly, and emerging markets among popular global travel trends during the panel discussion “Focus on the Future” at the WTTC 25th Global Summit in Rome on Monday. Others are: (from left) moderator Guy Johnson (Bloomberg), Diriyah Co. Group CEO Jerry Inzerillo, and Radisson Hotel Group CEO Federico J. Gonzalez Tejera. PHOTO COURTESY OF WTTC
She said the travel package works out well for both their clients and travel partners. “Our hotel partners and destination partners will get very good cash flow from these affluent population, and our customer also will get good value because it’s less crowded,” she explained.
Staffing shortages still an issue
TRAVEL destinations in “Emerging Markets” are also trending, Sun said. “People from Asia are very adventurous during the Chinese New Year; the most popular destinations are Australia, New Zealand, and South Africa, so far Continued on A2
CHRISTMAS COMES EARLY IN PH’S CHRISTMAS CAPITAL
Christmas officially began in the City of San Fernando in Pampanga, the country’s Christmas capital, with the ceremonial lighting of a giant 20-feet snowman, one of the main attractions of ‘Winter Wondertown’ at Capital Town, which is now delighting visitors with an expansive and immersive attraction inspired by the Christmas markets of Europe. It brings together the wonder of white Christmas and Kapampangan heritage through festive installations. Aside from the giant snowman, parol displays, amusement rides, snow and light shows, and family events are also dazzling guests in the township. MEGAWORLD
PESO EXCHANGE RATES n US 58.1490 n JAPAN 0.3951 n UK 78.1813 n HK 7.4719 n CHINA 8.1649 n SINGAPORE 45.1222 n AUSTRALIA 38.3493 n EU 68.1448 n KOREA 0.0413 n SAUDI ARABIA 15.5055 Source: BSP (October 3, 2025)
MUHAMMAD RISAL | DREAMSTIME.COM
ROTARY CLUB OF MANILA JOURNALISM AWARDS
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