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‘El Niño biggest risk in fighting inflation’ By Andrea E. San Juan & Lenie Lectura

T WORLD » A7

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HE worst of the inflation episode is still ahead, with the emergence of Super El Niño flagged as the “most significant risk” to watch out for in the coming months, bank economists warned. “The most significant risk to the inflation outlook over the next six months is the potential emergence of a super El Niño,” Bank of the Philippine Islands (BPI) Lead Economist Emilio S. Neri Jr. said in a commentary on Tuesday. “Should the impact of El Niño prove more severe than currently expected, inflation could rise toward 8 percent in the coming months,” added Neri. Relatedly, Energy Secretary Sharon Garin said Tuesday the “super” El Niño will drive

power rates and threaten power supply. Garin said extreme heat poses a threat to the country’s power supplies by reducing the efficiency and reliability of most power plants.

DOST warning

NERI noted that the Department of Science and Technology (DOST) recently warned that much of the country could experience dry or drought conditions by March 2027, which would likely affect agricultural production. Rice remains among the “most vulnerable” commodities given its sensitivity to weather conditions, Neri pointed out. Even prior to the onset of drier weather conditions, rice inflation already accelerated, at a 20.3 percent year-on-year inflation in September, compared to 19.4 percent in August, data from

the Philippine Statistics Authority (PSA) showed. However, super El Niño is only one of the many risks that could drive inflation faster in the coming months. For one, Neri said the recent fare hikes are expected to have a larger impact beginning in October, while wage adjustments could “reinforce” second-round effects by feeding into broader production and operating costs. In a commentary sent by Domini S. Velasquez, Group Chief Economist at China Banking Corporation (Chinabank), the bank noted that transport fare hikes and “severe” El Niño will likely lead to faster inflation this quarter. “More provinces are projected to experience reduced rainfall beginning this month,” Chinabank’s commentary read. Beyond potentially reducing agricultural output

and driving food prices higher, drier conditions could also strain water supply and power generation, leading to higher utility costs, Chinabank noted. Chinabank said the latest fare adjustments for jeepneys (P14 from P13), buses (P16 from P14), regular taxis and ride-hailing services (P65 flagdown rate from P50), have yet to be captured. These adjustments, Chinabank noted, are estimated to add around 1.4 percentage points (ppt) to annual headline inflation and feed through to October’s print. “This would also push our forecast for 2027 average inflation to above 4 percent, further narrowing the BSP’s room to ease monetary policy,” the bank also noted. These bank economists gave their respective outlooks on inflation after the Philippine See “Inflation,” A2

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By Justine Xyrah Garcia

HAT began as a shock from oil and food prices may be turning into a broader inflation problem, economists warned, as the country’s inflation surged back to 7.2 percent in September. On Tuesday, the Philippine Statistics Authority (PSA) reported that the inflation rate accelerated from 6.1 percent in August and 1.7 percent a year earlier, ending the country’s four-month disinflation trend. The latest reading matched the rate recorded in April and marked the highest inflation since March 2023, when it reached 7.6 percent. While oil-sensitive commodities remain among the main sources of inflation amid the resurgence of the Middle East conflict, Ateneo de

Manila University economist Leonardo A. Lanzona Jr. said the latest acceleration is becoming harder to pin on a few volatile items only. PSA data showed that 11 of the 13 commodity groups monitored by the agency recorded faster inflation in September, led by food and non-alcoholic beverages, for which inflation accelerated to 6.7 percent from 4.6 percent and accounted for 73.4 percent of the month’s increase. See “Disinflation,” A2

ASIA IS FILLING THE TRADE GAP FOR PHL, PER DHL ASPAC CEO By Bless Aubrey Ogerio

RADE within Asia is growing “very, very fast,” logistics giant DHL said, as Philippine businesses increasingly diversify markets beyond the United States, which remains the country’s largest trading partner. For DHL Express Chief Executive Officer for Asia Pacific Ken Lee, this is a result of efforts by companies to diversify their supply chains and reduce reliance on individual markets amid geopolitical tensions. “I can only tell you that intraAsia is growing very, very fast,” Lee said during a press briefing

at the DHL GoTrade Summit in Pasay City on Tuesday. While the United States remains the Philippines’s biggest trading partner, Lee said shipments to the market have been declining, with stronger activity within Asia helping offset the reduction. “Even though it’s moving, it is reducing; the US continues to be our biggest trading partner, but I’d like to say that it is getting faster,” he said. Lee said companies are increasingly looking at other markets as geopolitical risks make diversification a more important consideration. See “Trade gap,” A2

IMPEACHMENT WATCH, DAY 34 LandBank branch manager Eunice Sumatra appears as a prosecution witness on Day 34 of the impeachment trial of Vice President Sara Duterte at the Senate in Pasay City on October 6, 2026. Prosecutor James Bryan Ibrahim Alih said bank witnesses would testify on at least 30 accounts allegedly maintained by Duterte and her husband, Mans Carpio, across eight banks from 2022 to 2025. ROY DOMINGO-SPPA POOL

SPONGE FOR THE FLOOD MMDA Chairman Atty. Don Artes and Manila Mayor Isko Moreno present plans for rainwater impounding facilities at three sites—Remedios Circle, Rajah Sulayman

Park, and the Vito Cruz Asean Garden area at the Cultural Center of the Philippines complex—during the signing of a memorandum of agreement for the implementation of nature-based solutions on Tuesday, October 6, 2026, at the MMDA Head Office in Pasig City. The facilities, part of the broader Metro Manila “Sponge City Program,” are designed to temporarily store excess rainwater to help mitigate flooding. NONOY LACZA

Diwa has tough questions on Pax Silica By Andrea E. San Juan

HE “more consequential” question on Pax Silica is whether the country can use this emerging global arrangement to advance Philippine industrialization without surrendering national interest in the process, a former central bank deputy governor pointed out. Former BSP Deputy Governor Diwa C. Guinigundo raised this question as the debate over Pax Silica in the Philippines has become “increasingly polarized.” “To some, it represents a rare opportunity to pull the country into the higher reaches of the global technology economy,” the former BSP deputy governor said. To others, however, it “threatens” to make the Philippines a dependent supplier of land, minerals, energy and water for a United States-led geopolitical project. Guinigundo said both perspectives deserve “serious consideration.” He explained that Pax Silica was “conceived” around a changing global economy in which semiconductors, critical minerals, energy, artificial intelligence (AI) and advanced manufacturing have become matters of economic security. The former central bank deputy governor said the

initiative has expanded rapidly, reaching 25 Declaration signatories by September while 35 economies had inked a separate Joint Statement on AI Opportunity. However, he pointed out that the growing participation does not, by itself, prove that Pax Silica will succeed. Nor does it eliminate legitimate Philippine concerns. “But it does establish that this is no longer simply a bilateral Philippine-US proposition,” Guinigundo said, adding that it is becoming part of a wider restructuring of global technology supply chains. That is precisely why Manila must approach it “strategically,” he emphasized.

Five Reservations

AS such, Guinigundo laid out five reservations to keep in mind. First, he raised the question if the Philippines is becoming “too closely aligned” with Washington, pointing out that this concern cannot simply be dismissed. “Pax Silica clearly has a geopolitical dimension,” the former BSP deputy governor said, explaining further that analysts have described it as part of the broader US effort to build trusted tech-

nology supply chains and reduce strategic vulnerabilities associated with dependence on China. For the Philippines, he said: “That inevitably raises questions about strategic autonomy.” Guinigundo explained that economic security and national security are “increasingly intertwined.” “A country that depends on imported energy, foreign technology, external semiconductor inputs and concentrated sources of critical minerals is already exposed to geopolitical shocks,” he also noted. As such, Guinigundo said the Philippines should not pretend that geopolitics does not exist. It should instead ensure that its participation remains “multidirectional and interest-driven.” He said President Ferdinand Marcos Jr. has himself emphasized that the Philippines remains open to investments from US, China, Japan, South Korea, Europe, Australia and others, provided these are “mutually beneficial.” “Pax Silica should therefore be treated as one platform for Philippine economic diplomacy, not as a substitute for it,” added Guinigundo.

Domestic value-added

THE former BSP deputy governor said another

question to raise is if Filipinos are merely suppliers of resources while others capture the value. Guinigundo said this is “perhaps the most economically important criticism.” He said this against the backdrop of the country’s participation in electronics exports remaining concentrated in assembly, testing and packaging. “The fundamental problem is not simply attracting more investment. It is moving from lower-value participation toward more sophisticated design, advanced manufacturing, technology and innovation,” added Guinigundo. This particular reservation should answer the test on whether the Philippines’s participation can increase domestic value-added. “That means technology transfer, Filipino engineers and scientists, supplier development, research and development, skills upgrading, local SMEs, and eventually, Philippine participation in higher-value segments of the technology chain,” the former central bank deputy governor said. Otherwise, he pointed out that the Philippines would simply be reproducing the very valuechain trap the country is trying to escape. See “Pax Silica,” A2

PESO EXCHANGE RATES n US 62.6220 n JAPAN 0.3966 n UK 82.8176 n HK 7.9807 n CHINA 9.3375 n SINGAPORE 48.9770 n AUSTRALIA 43.6538 n EU 70.2995 n KOREA 0.0467 n SAUDI ARABIA 16.6809 Source: BSP (October 6, 2026)

News

BusinessMirror

A2 Wednesday, October 7, 2026

Trade gap… Continued from A1

“The US is no longer the only market that people depend on today,” he said. “People are planning on diversification and resilience because you never know when the next geopolitical tension is going to be.” He also pointed to the Philippines’s trade negotiations with the European Union as another potential avenue for market diversification. The shift toward greater intra-Asian trade is also being driven by supply-chain strategies such as “China Plus One,” under which companies expand sourcing or production beyond China to reduce concentration risks. According to DHL, the Philippines is among 22 emerging markets identified by agency as among the fastest-growing, which the company expects to benefit from supply-chain diversification in the coming years. “You will see more and more intra-Asians working in partnerships rather than depending on just one other region or one other country,” Lee said. For the Philippines, he said this could translate into faster trade growth as companies spread their sourcing, production and markets across more economies. The outlook comes as DHL continues to see strong growth in Philippine trade activity, although the operating environment remains uneven. Earlier this year, the company said it was targeting double-digit volume growth in the Philippines. Lee said the broader shift in Asian trade flows is being reinforced by growing activity in sectors such as artificial intelligence, data centers, life sciences, healthcare and new-energy industries, which require cross-border movement of highervalue goods and equipment. The expansion of cross-border business by micro, small and medium enterprises (MSMEs) is also creating additional trade flows, as smaller firms use e-commerce and logistics services to reach overseas customers.

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Aug agri trade deficit widens 20% to $1.1B as exports fall T

By Ada Pelonia

HE country’s agricultural trade deficit widened sharply to more than $1 billion in August as imports largely outstripped exports, according to the Philippine Statistics Authority (PSA). Data from the PSA showed that the country’s agricultural trade deficit jumped by 20 percent to $1.114 billion in August, from $928.45 million in the same period last year. Exports plunged by over a quarter or 26.1 percent to $554.7 billion in the reference month, from

Pax Silica… Continued from A1

Power and water ANOTHER issue raised was on power and water. “If Pax Silica requires massive new investments in renewable energy, transmission, water storage, recycling, wastewater treatment and logistics, those investments could become shared national infrastructure rather than dedicated subsidies to one project,” Guinigundo said. He said that should be the Philippine “negotiating position,” adding that the country should insist on independently validated water and power studies, transparent environmental safeguards, and clear rules preventing industrial demand from compromising household and agricultural requirements.

$750.57 million. Despite the slight dip in import receipts, they continued to hold the lion’s share of the farm trade at $1.668 billion, from $1.679 billion in the previous year. Overall, the country’s total agricultural trade fell by 8.5 percent to $2.223 billion, slower than the 5.2 percent growth and 5.1 percent increment posted in August 2025 and July 2026, respectively. Edible fruit and nuts were the top farm export in August, as it earned $211.99 million or 38.2 percent of total farm export revenues. This was followed by animal, vegetable, or

microbial fats and oils and their cleavage products; tobacco and manufactured tobacco substitutes; preparations of vegetables, fruit, nuts, or other parts of plants Malaysia remained the leading buyer of agricultural goods from the Philippines in the Asean region in August. It purchased $27.82 million worth of exports, or 41.4 percent of total farm shipments to Asean member countries. Furthermore, the Netherlands also maintained its position as the Philippines’s major trading partner in the export of farm products among European Union (EU) member

countries, accounting for $36.7 million or 56 percent of shipments to the bloc. Cereals accounted for the country’s leading farm import in August at $416.68 million or 25 percent of total agricultural inbound shipments. The top 10 commodity groups totaled $1.43 billion, up by 5.4 percent year-on-year, based on PSA data. Among its Asean partners, the Philippines mainly sourced the majority of farm products from Indonesia worth $194.55 million or 34.4 percent of the total shipments from the region.

Land, communities, and Indigenous peoples

Guinigundo explained that while the Philippines does not lack “ambitious” economic plans, it has often lacked the institutional capacity to execute them consistently. “The Luzon Economic Corridor itself will succeed only if energy, infrastructure, human capital, investment policy and governance are coordinated over many years. The same principle applies to Pax Silica,” he explained. With the proposed framework agreement reportedly being prepared between BCDA and a US counterpart, officials have also said the arrangement “will affirm Philippine sovereignty and provide no diplomatic immunity or special carve-out from Philippine jurisdiction,” Guinigundo noted. “That is important. But transparency is equally important,” he said. The public should see the framework, understand the obligations, know the fiscal and environmental implications and have “sufficient” opportunity for scrutiny before irreversible commitments are made. Guinigundo said the growing number of participating countries should give Manila greater negotiating confidence rather than less. Given these factors to consider, the former BSP deputy governor said the critics are right to demand safeguards and the advocates are right to recognize the scale of the opportunity. The challenge, he pointed out, is to reconcile the two.

“Without a doubt, and this is urgent, the Philippines needs to leapfrog from a consumption-, labor-export and low-value assembly-dependent economy toward one that is productivity-driven, innovation-led and inclusive,” Guinigundo said. “Pax Silica does not guarantee that transformation, nor does the Luzon Economic Corridor. But together they could provide an industrial platform on which such transformation could become possible,” Guinigundo also noted. Further, he emphasized that the Philippines should not fear participation in the emerging technology economy. “But neither should it enter that economy merely as a provider of land, labor, minerals, electricity and water,” he stressed. The former BSP deputy governor underscored that the objective must be “much more ambitious” which is to make the Philippines a producer, innovator and value creator in the new global technology economy. That is the ultimate test, he said, not whether Pax Silica carries the American flag, nor whether it pleases China, nor even whether it attracts billions of dollars. “But instead, whether 10 or 20 years from now, Filipinos are capturing substantially more of the value created by the industries we help build today. That is the standard by which this opportunity, and the safeguards surrounding it, should ultimately be judged,” the former deputy governor of the Bangko Sentral ng Pilipinas asserted.

Inflation…

more hawkish Federal Reserve, the BSP may consider a more aggressive policy response to maintain price stability,” he explained. Chinabank, meanwhile, emphasized that with price pressure likely to remain elevated “and the worst of this inflation episode still ahead,” it expects the central bank to deliver another 25-basis-point (bp) rate hike in October.

THIS concern, he emphasized, cannot be “waved away in the name of development.” “The government has said the project will comply with Philippine laws and protect communities and the environment. That commitment must now move from assurance to documentation,” Guinigundo said. He said free, prior and informed consent where legally required, transparent land information, environmental assessments, appropriate compensation and livelihood protection should be conditions of development, not afterthoughts. “Development that creates sophisticated factories while impoverishing communities around them would not constitute structural transformation,” added Guinigundo.

Finally, governance

“THIS may be the most decisive issue of all,” the former BSP deputy governor said.

Continued from A1

Statistics Authority (PSA) reported that the country’s headline inflation climbed to 7.2 percent September from 6.1 percent in August 2026.

Fastest inflation since March 2023

THE latest inflation print was the fastest since March 2023 when headline inflation was at 7.6 percent. This brings the average inflation rate from January to September 2026 to 5.4 percent, above the Bangko Sentral ng Pilipinas’ (BSP) full-year target of 3 percent and beyond the tolerance ceiling of 4 percent. Core inflation, which excludes volatile food and energy items, also accelerated from 4.1 percent in August to 4.7 percent in September—the fastest since October 2023 when core inflation reached 5.3 percent. Similarly, inflation for households with incomes in the lowest 30 percent of the population increased from 8.2 percent in August to 9 percent in September. In a separate statement, the central bank said: “The BSP remains vigilant and guided by incoming data. It will continue to assess the impact of latest developments in the Middle East and weather disturbances on the outlook for inflation and growth.”

Monetary policy

AGAINST this inflation backdrop, Neri said a larger 50-basis-point increase in one of the remaining policy meetings this year cannot be ruled out. “Such a move would likely depend on how financial markets, particularly the foreign exchange market, respond to evolving macroeconomic conditions. If the pace of Peso depreciation accelerates again due to higher oil prices, widening external imbalances, or a

Garin’s grim warning

IN warning of the impact of the “super” El Niño, Energy Secretary Garin said: “I don’t want to be a doomsayer, but I just want to be very transparent about this. When it’s very hot, our rivers are dry, so that’s hydro already. Our coal power plants, not only are we over-extending their production, but also the heat affects their efficiency. And many times, we have seen this in previous years, it goes into an outage. And biomass, the same thing, biomass is also affected. Of course, the solar, even if you think that solar automatically produces more when it’s hotter. If it’s too hot, then there is also a negative impact on that,” said Garin. To manage these climate strains, the Department of Energy (DOE) is actively preparing alternative options to cover the anticipated supply shortages. “We have actually started already preparations, especially on our disaster preparedness. So it will affect our supply. The DOE is preparing to cover for that based on the other options that we have. But the appeal is for the public to be aware of this so that we can already start having the mindset of energy savings. This is one way we can help turning off our lights, pulling out the plugs for appliances that we don’t need, and that would help us at least 10 to 20 percent reduction of our demand. So, this is not— maybe we, I don’t know if we are over preparing, but it’s better to be over prepared for this problem,” said Garin. On electricity prices, Garin said this is a strong possibility that it will surge. “The demand-supply relationship always has an effect on the market, on WESM [Wholesale Electricity Spot Market] so it might affect that. “But I’ve talked to Chair Nino [Francis Saturnino Juan] of ERC [Energy Regulatory Commission] and we are trying to find ways to do something about the market so that there is no abuse on the part of the one selling electricity in the market,” added Garin.

Disinflation… Continued from A1

Housing, water, electricity, gas and other fuels followed, rising to 8.4 percent from 7.9 percent and accounting for 9.9 percent of the increase, while transport inflation climbed to 14.6 percent from 13.5 percent, with a 9.2 percent share. The remaining groups that posted faster inflation included alcoholic beverages and tobacco, clothing and footwear, household furnishings, health, recreation, sport and culture, education, restaurants and accommodation, and personal care, and miscellaneous goods and services. Only information and communication recorded slower inflation, at 0.9 percent, while financial services remained unchanged at zero growth. The broad-based increase was also evident geographically, with 16 of the 18 regions recording higher inflation in September. Core inflation, meanwhile, accelerated to 4.7 percent from 4.1 percent in August, reaching its highest level since October 2023. For Lanzona, these figures point to a shift from a temporary price shock to generalized price pressure. “This situation makes the inflation more domestic-driven. The trigger may still be external, such as oil prices, a weak peso, or global food prices. But when pressure becomes this broad, the propagation is domestic: firms pass on higher costs, workers push for higher pay, and households expect higher prices,” Lanzona told the BusinessMirror. “Imported shocks start the fire, while domestic passthrough keeps it burning,” he added. University of Asia and the Pacific economist Marco C. Agonia agreed, noting that second-round effects are now emerging as inflation rises even in commodity groups without direct exposure to oil prices. “What we’re seeing now is inflation moving in response to dual catalysts so far, which could become a firmer trend if oil and food prices remain stubbornly elevated,” Agonia told this newspaper. With price pressures spreading across the economy, inflation will be “harder to bring down quickly because the pressure is no longer confined to volatile food and energy prices,” according to Philippine Institute for Development Studies Senior Research Fellow John Paolo R. Rivera. The Development Budget Coordination Committee (DBCC) in July raised the government’s inflation target this year to 6 percent to 7 percent, exceeding the central bank’s target range of 2 to 4 percent. From January to September 2026, average inflation already stood at 5.4 percent, well above the 1.7 percent average recorded in the same period last year.

Inflation still hits poor the hardest

THE broadening price pressures are also hitting the country’s poorest households hardest. PSA data showed inflation for the bottom 30 percent of households accelerated to 9 percent in September, from 8.2 percent in August. This reversed the 0.2-percent disinflation recorded in September 2025. The latest reading also brought year-to-date inflation for the bottom 30 percent to 6.5 percent, a sharp reversal from the 0.4- percent disinflation recorded in the same period last year. Agonia said sustained high inflation could put near-poor households at greater risk of falling back below the poverty line, as these households have less room to absorb higher prices. Lanzona, for his part, said the government should pursue targeted rather than blanket measures to help vulnerable near-poor households. This includes cash transfers, rice supply measures and fare support, he said.

Upside risks remain

NATIONAL Statistician Claire Dennis S. Mapa said “a lot of risks” remain for the inflation trajectory in the last three months of 2026, particularly as the effects of El Niño on food supply are still unfolding and recent fare increases are expected to show more fully in October. Economists said these risks could push inflation higher in the coming months, particularly if food supply and logistics buffers are not strengthened. “Much will depend on food supply, oil prices, the peso, and how strongly these costs spill over into other goods and services,” Rivera told the BusinessMirror. For households, sustained price pressures could leave less room for discretionary spending in the Christmas season as families prioritize basic necessities. This, Lanzona said, could weigh on fourth-quarter economic growth—potentially delaying the broader economic recovery as household spending remains a key driver of growth. “Christmas will look busy in nominal terms but subdued in real terms. Remittances and 13th-month pay will help, but they buy less. Households will trade down, and that drags on fourth-quarter growth,” he added.

Government measures

SOCIOECONOMIC Planning Secretary Arsenio M. Balisacan said the government continues to ensure that supply-side pressures are being addressed to manage the impact of inflation on households. To help temper price pressures, the government is cutting fuel, electricity and logistics costs, while strengthening food supply and storage capacity. It is also preparing targeted agricultural interventions ahead of a possible El Niño intensification, including expanding storage facilities, rolling out an African Swine Fever vaccine, improving climateresilient agricultural planning, and supporting vulnerable communities. “The best response to supply-driven inflation is to strengthen supply itself…These investments address the root causes of price pressures and will deliver a more stable and affordable food supply in the years ahead,” Balisacan said in a statement.

The Nation

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NBI finds registered owners of properties linked to Velasco By Joel R. San Juan @jrsanjuan1573

HE National Bureau of Investigation (NBI) on Tuesday said it has established the registered owners of four properties being linked by dismissed police officer Rodulfo “Ping” Gracioso Jr. to former Speaker Lord Allan Velasco and his wife, Rowena Kristina Amara Velasco. In a statement, the NBI said these properties include a house on Campaca Street, Valle Verde 2, Pasig City; a residence on Sampaguita St., Valle Verde, Pasig City; Sara Resort and Cabanas, Poctoy White Beach, Torrijos, Marinduque; and Amara Resort Villas, Poctoy White Beach, Torrijos, Marinduque. The agency said it checked the properties against land titles and records from the Securities and Exchange Commission (SEC) such as Articles of Incorporation, amendments and General Information Sheets. So far, the NBI said it has established that the residence on Champaca Street is registered to Eagle Assets and Realty Inc., which lists Mrs. Velasco as president. The residence on Sampaguita Street is titled to a member of Mrs. Velasco’s personal staff and the address was also declared by Mrs. Velasco’ in the Eagle Assets and Realty’s SEC registration. Gracioso has identified the residence

on Sampaguita Street as the Velascos’ first residence in Valle Verde, where he allegedly picked up cash there for delivery. Meanwhile, the NBI said based on its validation, Sara Resort and Cabanas is operated by 888 Wealth Star Corporation, which was incorporated in March 2025. Based on SEC records, the NBI said Mrs. Velasco is the corporation’s president and chairman and owns 60 percent of its shares. The company reported its entire P20 million capital as fully paid in cash upon incorporation. On the other hand Amara Resort & Villas is operated by Amara Equity Ventures Inc., which was incorporated in 2018. The NBI said the couple were among the principal incorporators and together held 80 percent of the company’s subscribed shares. The couple transferred their original shareholdings to third parties in 2023 although Mrs. Velasco remains a stockholder and serves as vice president. “The SEC records show that the two resort corporations are connected. The same individuals serve as officers of both. Incorporators of the two corporations share residential addresses, and persons who handled corporate filings for one also appear in the records of the others,” the NBI pointed out. See “NBI,” A4

NSC sets probe on claims Sara got money from China By Rex Anthony Naval

HE National Security Council (NSC) on Tuesday said it seriously takes the alleged information presented during the impeachment proceedings on reported financial inflows from China into a Philippine-based company associated with the family of Vice President Sara Duterte. “While the proceedings remain ongoing and the information presented should be properly examined within established legal processes, the reported transactions and any credible information involving significant foreign financial flows that may bear upon the country’s national security warrants careful, in-depth, and responsible assessment,” National Security Advisor Eduardo SL Oban Jr. said in a statement. He also added that the NSC will look into the information presented as a matter of policy. Oban also added that he already tasked intelligence and investigative agencies to coordinate with relevant government institutions to assess the national security implications, if any, arising from the reported transactions.

“The NSC takes seriously the information presented during the impeachment proceedings regarding reported financial inflows from China into a Philippine-based company associated with the family of Vice President Sara Duterte,” Oban said. He noted that information presented during the proceedings must first be properly examined through established legal processes. In his testimony at the Senate impeachment trial, Executive Director Ronel Buenaventura of the Anti-Money Laundering Council (AMLC) said Cale88 Foods Corporation, a company linked to Duterte’s husband, lawyer Manases Carpio, received P319 million from China and Hong Kong. Former senator Antonio Trillanes IV claimed in a press conference on Friday that the Duterte couple accepted P150 million and P319 million through their separate organizations. Defense Secretary Gilberto Teodoro has urged Trillanes to submit evidence regarding his claims so these could be “thoroughly investigated,” saying these “raise serious implications for national security.”

Military notes increase in Chinese ships at WPS

HE Armed Forces (AFP) reported on Tuesday that a total of 101 Chinese ships were monitored in the West Philippine Sea (WPS) and some of its land features in September. This was almost double the 56 Chinese ships seen in the disputed area in August. Rear Adm, Roy Vincent Trinidad, AFP spokesman for the WPS, said these People’s Liberation Army Navy (PLAN) and China Coast Guard (CCG) vessels were seen in WPS features from September 1 to 30:

n Ayungin Shoal – 14 CCGs, nine PLANs n Bajo de Masinloc – 25 CCGs, 14 PLANs n Escoda Shoal – seven CCGs, four PLANs n Pag-asa Islands – 23 CCGs, five PLANs

“These figures underscore the continued conduct of Icad [illegal, coercive, aggressive and deceptive] activities that undermine the rules-based international order and challenge the Philippines’ sovereign rights and jurisdiction within its maritime domain. Such actions contribute to regional tensions and highlight the importance of continued vigilance and adherence to international law,” Trinidad said.

But despite these developments, Trinidad said the Navy (PN) and the AFP remains steadfast in fulfilling their mandate to safeguard the nation’s maritime interests. “Through sustained operational presence, enhanced maritime domain awareness, strengthened inter-agency coordination, and continued capability development,” he added. Beijing claims almost all of the South China Sea, where more than $3 trillion of annual shipborne commerce pass through. Parts of the SCS are claimed by the Philippines, Vietnam, Indonesia, Malaysia, and Brunei. The Philippines renamed the maritime areas on the western side of the Philippine archipelago, including the Luzon Sea and the waters around, within, and adjacent to the Kalayaan Island Group and Bajo de Masinloc, West Philippine Sea to reinforce the country’s claim. The Permanent Court of Arbitration in The Hague, the Netherlands, in 2016 ruled in favor of the Philippines over China’s claims in the South China Sea, saying that it had “no legal basis.” Rex Anthony Naval

Wednesday, October 7, 2026

No legal, trade justification for China money transfer to Carpio firm–AMLC

By Jovee Marie N. dela Cruz

@joveemarie

HREE transactions involving the Cale88 Foods Corp. were reported as suspicious, according to Anti-Money Laundering Council (AMLC) records presented before the Senate Impeachment Court, with the reporting institution citing the absence of an underlying legal or trade obligation, purpose or economic justification. Cale88 is linked to lawyer Manases Carpio, the husband of Vice President Sara Duterte, who is undergoing impeachment trial at the Senate. Carpio held a 47.5-percent interest in the company through 2024. During the trial on Tuesday, AMLC Secretariat Executive Director Ronel Buenaventura disclosed the information during the impeachment trial of Duterte, where he appeared as a witness during a redirect examination by House prosecution counsel Mae Divinagracia. Buenaventura read from suspicious transaction reports (STRs) covering three Cale88 transactions. “ The reason indicated is there is no underlying legal or trade obligation, purpose or economic justification,” he said, referring to the first transaction. He later confirmed that the same reason was cited for the second and third transactions. The prosecution revisited the STRs after the defense questioned during cross-examination the source of inward remittances received by Cale88. Divinagracia also asked Buenaventura to identify the addresses of counterparties behind the remittances based on covered transaction reports. AMLC records showed counterparties with addresses in China, including Beijing, Zhejiang and Changji. Overall, Cale88 received P319,326,770.41 in aggregate inward remittances from mainland China and Hong Kong, according to Buenaventura’s testimony. Of the tota l, approximately

P315.94 million came from mainland China and P3.39 million from Hong Kong. The records covering the remittances consisted of 143 covered transaction reports (CTRs) and three suspicious transaction reports (STRs). The three transactions reported as suspicious totaled P9,783,370.99, according to the AMLC records. The reporting institution cited the absence of an underlying legal or trade obligation, purpose or economic justification. The House prosecution is presenting the financial records as evidence under Article II of the impeachment case, which alleges unexplained wealth and discrepancies in Duterte’s financial and business disclosures. During the proceedings, SenatorJudge Anna Theresia “Risa” Hontiveros also raised possible links between some companies that sent money to Cale88 and Chinese state-owned enterprises. Hontiveros said research by her office showed that some of the companies identified as remitters to Cale88 were Chinese state-owned enterprises. Among those she cited was China National Township Enterprises, which appeared in AMLC records as one of the remitters. She also cited Beijing Jianweifang Food Company and its reported connection to Xinjiang Fruit Industry Group, which she described as a Chinese state-owned enterprise with a Chinese Communist Party organization within its corporate governance structure. “I raised this question because

my office looked into the companies mentioned yesterday, and it turned out that some of those that sent money to Cale88 are Chinese stateowned enterprises,” Hontiveros said. Hontiveros asked whether the AMLC was examining the links between Cale88’s remitters and Chinese state-owned companies. Buenaventura said he could not answer because the subpoena issued to the AMLC covered the records presented before the Impeachment Court. “At this point, what is covered by the subpoena is only the records. I apologize, Your Honor, but I am unable to answer that at this point,” Buenaventura said. The issue of China-linked funds also prompted Senator-Judge Paolo Benigno Aquino to ask the House prosecution whether it would seek financial records involving Tapang at Malasakit Alliance for the Philippines, a group led by Duterte when she was Davao City mayor. “Possible donations from China have also been brought up. Will there be any move to get the records of Tapang at Malasakit Alliance?” Aquino asked. “We are considering it, Your Honor,” Divinagracia replied. Former Sen. Antonio “Sonny” Trillanes IV recently renewed attention to the donation after presenting documents involving China-linked funds associated with entities connected to Duterte and Carpio. Buenaventura confirmed that records involving Tapang at Malasakit were not included in the AMLC subpoena issued in connection with the impeachment proceedings. “No, Your Honor. Those are not included in the subpoena, Your Honor,” he said. House prosecutors defended their use of the AMLC records despite a statement from the Chinese Embassy rejecting an allegation that China funded a Philippine political faction. The embassy described the allegation as a “false narrative” and urged politicians not to drag Philippines-China relations into domestic political disputes. Private prosecutor Benjamin Tolosa Jr. said he would rely on Philippine government records rather than the Chinese government’s denial. “I will always believe the official records of our own government and their own banking institutions versus the

claims of the Chinese government,” Tolosa said. House prosecution spokesperson Ace Barbers, likewise, said the AMLC data established that money moved from China into a Philippine-registered corporation. “The data do not lie. The data prove that there was indeed money that entered from China into a corporation registered here in our country. This is Cale88,” Barbers said. Meanwhile, Cale88 could be a “candidate for money laundering,” according to Buenaventura. Buenaventura made the statement during clarificatory questioning by Senate President Sherwin Gatchalian. Gatc h a l i a n quest ioned how Cale88, which he said had a paid-up capital of only P125,000, could have recorded P776.6 million in inflows and P154.6 million in outflows from 2022 to 2025. “If the P776 million cannot be found in the books, is Cale88 a candidate for money laundering? In your expert opinion and based on your experience, shouldn’t that be reflected in the books?” Gatchalian asked. “As a starting point, it is difficult to say. As a starting point, it could be, but we have to consider all other factors,” Buenaventura replied. Gatchalian pressed: “But it could be a candidate for money laundering?” “If we are talking only about being a candidate, yes, but we have to consider all other factors,” the AMLC official said. Buenaventura explained that the AMLC would have to determine the possible unlawful activity from which the money originated, noting that money laundering involves proceeds from an illegal activity. Gatchalian further questioned whether the P125,000 capital was commensurate with the hundreds of millions of pesos flowing through Cale88’s accounts. “If the capital is P125,000, and P776 million came in as sales or cash, does this fall under that? Is a P125,000 capital commensurate with P776 million?” Gatchalian asked. “I have to check the nature of the business. Based on this juridical person, we have to conduct further investigation, if needed,” Buenaventura said.

OSG asks SC to junk plea vs postponement of BSKE

HE Office of the Solicitor General (OSG) has asked the Supreme Court (SC) to dismiss the petition filed by several lawyers led by election lawyer Romulo Macalintal seeking to declare as unconstitutional Republic Act 12326 which resets the barangay and Sangguniang Kabataan (SK) elections to November 2028. In a 60-page comment to the petition, Solicitor General Darlene Marie Berberabe also expressed opposition to the petitioner’s plea for the issuance of a temporary restraining order or a status quo ante order or both to stop the implementation of R A 12326. The OSG maintained that Congress has the power under the Constitution to determine the term of office of barangay officials. It also dismissed the petitioners’ claim that Congress “might become too spoiled in making perpetual BSKE postponements.” T he O S G s t re s s e d t h at t h i s a rg ument concer ns f ut ure leg islation “that does not e x i s t y e t .” “A schedule fixed by one statute and validly amended by another

cannot therefore support a right in esse [clear and unmistakable right]. And without such a right, there is also no material and substantial invasion that the writ may prevent.” Other arguments raised by the OSG against the petition include the violation of hierarchy of court, that RA 12326 is a valid termfixing law, does not constitute a legislative appointment through hold-over, and does not violate the “one-subject, one title” rule under the Constitution. The OSG also argued that the determination of the term of barangay officials is within the power of Congress and the Executive branch. The government chief counsel stressed that the petitioners should have first sought relief from lower courts instead of directly bringing the issue before the SC. The OSG noted that the SC is not a trier of facts and should be the court of last resort. “Here, petitioner’s arguments against the constitutionality of R A 12326 are inextricably intertwined with underlying questions of fact, which determination

requires reception of evidence and, thus, should have first been brought before the proper trial courts of the Court of Appeals,” the OSG pointed out. The claim of the petitioner that the postponement would result in a wastage of more than P8 billion that the Commission on Elections (Comelec) had so far spent for preparations is a factual matter that need to be heard and resolved by lower courts. The OSG also noted that Article X, Section 8 of the 1987 Constitution granted Congress the power to fix the term of barangay officials. The said provision specifically states: “The term of office of elective local officials, except barangay officials, which shall be determined by law, shall be three years and no such official shall serve for more than three consecutive terms. “Voluntary renunciation of the office for any length of time shall not be considered as an interruption in the continuity of his service for the full term for which he was elected.” It also invoked the SC’s 2025

ruling in Macalintal v Senate, which upheld Congress’ authority to determine the term of barangay officials, including when a new term should begin, provided that the period set is reasonable and not unduly long from the enactment of law. The OSG explained that the guidelines on laws postponing elections laid down by the Court in its Macalintal 2023 ruling do not apply to RA 12326 because the latter’s principal purpose is to fix the term of barangay and SK officials, rather than to postpone an election. It also countered the argument of the petitioners that allowing incumbent barangay officials to hold over in their positions is tantamount to a “legislative appointment,” which violates the Constitution. “The hold-over of incumbent barangay officials is an incidental consequence of Congress’ valid exercise of its authority to fix the term of barangay and SK officials,” the OSG said. “Once Congress fixed the term, See “BSKE,” A4

Economy

Wednesday, October 7, 2026

www.businessmirror.com.ph

DILG: LGUs approve over 12K telecom infrastructure projects as of September ’26 By Jonathan L. Mayuga

@jonlmayuga

ORE than 12,000 permits and clearances for telecommunications infrastructure projects have been approved all over the country in the first three quarters of 2026, the Department of the Interior and Local Government (DILG) said.

procedures in processing applications of internet providers, in support of President Marcos’ push for a more digitally connected Philippines. “LGUs continue to open doors for telecommunications companies to expand their services, even in hardto-reach areas,” the department said in a statement. Executive Order 32, series of 2023, or Streamlining the Permitting Process for the Construction of Telecommunications and Internet Infrastructure, serves as the key policy guiding LGUs in handling network expansion applications by Public Telecommunication Entities, Cable TV Operators, and Independent Tower Companies, among others. Under the EO, LGUs are enjoined to observe the Zero Backlog Policy in handling telecommunications infrastructure-related applications. Compliance is monitored through the annual submission of a list of

pending applications to the AntiRed Tape Authority. The Department said 94 LGUs are still processing 2,046 telecoms infrastructure permit applications, which must be acted upon within the processing time prescribed by law. The DILG stressed that timely and transparent permitting reflects responsive local governance and helps ensure that infrastructure projects are not held back by unnecessary administrative delays. The Department reiterated that officials who cause or enable red tape in the issuance of permits and clearances may face penalties under Republic Act 11032 or the Ease of Doing Business Law (EODB), as it urged LGUs to sustain streamlined permitting procedures that will help bring improved internet access and online government services to more Filipinos, particularly those in underserved and hard-to-reach communities.

A s of September t h is yea r, 12,241 per mits have been approved in 707 cities and towns, fast-track ing the constr uction and installation of telecommunications towers and other internet facilities.

The approval of the permits and clearances came as local governments (LGUs) streamline the processing of applications to support faster internet expansion. The DILG said more LGUs are adopting faster and simplified

BSKE. . .

DENR chief urges partners to build science-based high seas protection

Continued from A3

the adjustment of the election necessarily followed, and relatedly, the status of incumbent barangay officials during the transition,” it added. Meanwhile, in a press statement, Macalintal said he has filed an omnibus motion and reply to the comment of the government before the SC. The omnibus motion, which was electronically filed, refuted the arguments raised by the OSG defending the postponement of the BSKE. Macalintal dismissed the Executive Branch’s excuses—such as crime prevention, flood response, and garbage collection—as frivolous rationalizations in postponing the November 2026 BSKE “Crime prevention, flood response and garbage collection are the ordinary, everyday functions of a barangay. They were the functions of barangay officials in 2023, when the people elected the incumbents, and they will be the functions of whoever the people elect on November 2, 2026,” Macalintal said. He added that “using garbage collection to cancel elections implies barangay polls can never be held again because “the garbage will always need collecting.” Joel R. San Juan

HE Philippines looks forward to strategic alignment with key stakeholders, expressing hope that the Conference of the Parties (COP) can begin laying the foundations for scientifically robust, inclusive, and effective protection of biodiversity in the high seas. Speaking during the High-Level Event on “BBNJ First Movers” held on the sidelines of the 81st Session of the United Nations General Assembly (UNGA81) at the UN Headquarters in New York, Environment Secretary Juan Miguel Cuna emphasized that ocean protection beyond national borders is a pressing priority for archipelagic states like the Philippines. Convened by Chile under the High Seas Ambition Coalition, the high-level engagement gathered global leaders to accelerate early implementation of the landmark United Nations treaty on Biodiversity Beyond National Jurisdiction (BBNJ). “For us, the protection of biodiversity within and beyond national jurisdiction cannot be considered in isolation,” Cuna told international leaders and ocean conser vation par tners. “The ocean is ecologically connected, and effective c o n s e r vat i o n m u s t re c o g n i ze t h at connectivity,” he added.

Pointing to the Philippine Rise Marine Resource Reserve situated along the path of the Kuroshio Current, the DENR chief underscored that marine ecosystems—and the sources and sinks of marine resources— extend across jurisdictional boundaries. What occurs in areas beyond national jurisdiction, he noted, directly affects the country’s coastal ecosystems, fisheries, and economic livelihood. As a mega-diverse archipelagic nation situated at the apex of the Coral Triangle, the Philippines boasts of 7,641 islands and the world’s fifth-longest coastline, with over 80 percent of its provinces located along coasts. Cuna stressed that developing nations must be enabled to initiate, develop, and implement high-seas conservation proposals, rather than merely supporting e x i s t i n g o n e s. H e c h a l l e n g e d t h e international community to address deep capacity gaps, build scientific baselines, and mobilize the financial resources needed to establish credible high-seas Marine Protected Areas. To ensure full implementation readiness ahead of the first Conference of the Parties (COP1) scheduled for January 2027, the Philippines deposited its instrument of ratification with the UN in September 2025,

following ratification by President Marcos and concurrence by the Senate. Cuna shared that the Department of Environment and Natural Resources, in partnership with the United Nations Development Program and the Global Environment Facilit y, is thoroughly assessing national capacities across the treaty’s four core pillars: Marine Genetic Resources, Area-Based Management Tools, Environmental Impact Assessment, and Capacity-Building and Transfer of Marine Technology. The Philippines has established a dedicated Ocean Environment Task Force and is updating its Philippine Biodiversity Strategy and Action Plan to align with the Kunming-Montreal Global Biodiversity Framework. Regionally, the environment c h i e f a f f i r m e d t h at t h e co u nt r y i s advocating for BBNJ science, standards, a n d c o o p e r a t i o n t h ro u g h e x i s t i n g platforms including the Coral Triangle Initiative, Association of Southeast Asian Nations, and the Coordinating Body on the Seas of East Asia. “Let us turn this historic agreement into lasting protection for the lifeblood of our planet,” Cuna urged, calling on global partners to foster equitable ocean governance.

Ciac bags 99.56% GCG performance rating

LARK FIELD, Pampanga—The Governance Commission for Government-Owned or -Controlled Corporations (GCG) has given the Clark International Airport Corporation (Ciac) an overall rating of 99.56 percent for its

2025 Performance Scorecard, marking the agency’s highest performance rating in the past three years. The rating reflects CIAC’s performance in meeting its strategic targets for 2025, including the number of people em-

ployed by locators, the completion of new lease agreements and development contracts, and the handling of client and customer feedback. The GCG validation also covered CIAC’s ongoing infrastructure and development initiatives, particularly the establishment of the Clark Aviation Capital (CAC), as well as personnel competency, disaster risk reduction and management (DRRM) planning, and the implementation of the agency’s Gender and Development (GAD) programs. CIAC’s 2025 rating improved from 98.93 percent in 2024 and 97.46 percent in 2023, reflecting sustained performance in the agency’s delivery of its strategic targets and programs. CIAC President and Chief Executive Officer Joseph Alcazar attributed the results to the agency’s continuing focus on performance, accountability, transparency, and good corporate governance. “Management is driven by performance excellence and accountability, and we work doubly hard to ensure transparency and good corporate governance with the guidance of the GCG and our parent company,

the Bases Conversion and Development Authority [BCDA], especially in advancing strategic initiatives for the Clark Aviation Capital as our modest contribution to the nation’s economic growth and development,” Alcazar said. The GCG Performance Scorecard is an annual assessment of GOCCs based on strategic criteria, targets, and corresponding weights. It measures the actual accomplishments of government corporations against their commitments and strategic objectives. As the premier aviation and land development arm of the BCDA Group, CIAC is advancing major development initiatives within the Clark Aviation Capital aimed at attracting investments in aviation, cargo and logistics, technology, connectivity and infrastructure, sustainable urban development, and commercial and mixed-use developments. The agency’s performance supports its broader mandate to develop Clark as a competitive aviation and investment destination and contribute to economic growth and employment generation in Central Luzon. Ashley J. Manabat

Dole-NCR eyes better job matching through labor data By Mary Jade Jadormio

HE Department of Labor and Employment-National Capital Region (Dole-NCR) is strengthening its use of labor-market information (LMI) to improve job matching and address skills mismatch. Dole-NCR recently held a two-day Basic Labor Market Information Training and National Skills Registration Program Regional Assessment in Taguig City. The activity brought together 85 participants from Dole-NCR field offices, Public Employment Service Offices (Peso) and Job Placement Offices (JPO). Participants were updated on LMI, the National Skills Registration Program (NSRP), Philippine Employment Information System (PEIS) and PhilJobNet. Dole-NCR Assistant Regional Director Jude Thomas P. Trayvilla, speaking for Regional Director Roy L. Buenafe, urged participants to take part in the discussions. He said the knowledge shared during the training would help improve employment services in the National Capital Region. Former Bureau of Local Employment Director Virgilio Guillermo led the introductory session on basic LMI. Guillermo discussed key labor and employment concepts, as well as analytical tools for understanding labor-market conditions. Meanwhile, Bureau of Local Employment representatives Princess Mary Angcaya and Arzenith Asuncion handled the second-day sessions on NSRP, PEIS and PhilJobNet. Participants also received hands-on training on PhilJobNet, Dole’s online platform for connecting jobseekers with employment opportunities. Dole-NCR Senior Labor and Employment Officer Ernest Mhel C. Aranda presented updates on the labor market and discussed the preparation of Labor Market Updates and Labor Market Profiles. Aranda also assessed workshop presentations prepared by the participants. PESOs and JPOs used the activity to raise implementation concerns and share practices that could improve services for jobseekers and employers. Dole-NCR said the capacity-building activity aims to ensure that employment facilitators can provide accurate, accessible and relevant labormarket information. It said stronger use of LMI can help employment service providers respond to job-skills mismatch while improving the link between available workers and employer requirements.

NegOcc wage review stays with WV board, for now By Mary Jade Jadormio

EGROS Occidental’s wage review will remain under the Western Visayas wage board as the government transitions to a separate wage-setting mechanism for the newly established Negros Island Region (NIR). Labor Secretary Francis N. Tolentino said the NIR wage board has yet to be constituted, leaving the province under the jurisdiction of the Regional Tripartite Wages and Productivity Board (RTWPB) VI for now. “Although there is already a Negros Island Region, the wage board has not yet been formed because it is still new,” Tolentino said in a radio interview. Under the transition arrangement, Negros Occidental remains with Region VI for wage-setting purposes, while Negros Oriental and Siquijor continue to fall under the Region VII wage board. “This is only at the wage board level. Although there is already an NIR, the formation of its wage board is still in process.

NBI. . . Continued from A3

The NBI said they are still in the process of verifying the possible association of these officers to the Velascos. However, the NBI said Amara’s financial position does not match that of a company owning and operating a beachfront resort. The agency noted that it reported total assets of only P272,000, paid-up capital of P625,000 and no employees.

We are still in transition,” Tolentino said. The arrangement comes as RTWPB VI begins its 2026 public hearings on minimum wage rates in Western Visayas, including a session for private establishments in Negros Occidental on Tuesday. Workers, employers and micro, small and medium enterprises in the province have been invited to submit their positions and grounds for the wage determination process. A separate public hearing for the sugar planters industry is scheduled on Wednesday, also in Bacolod City. The hearings put Negros Occidental’s wage-setting process in motion even as the institutional transition to NIR remains unfinished. NIR was created to bring Negros Occidental, Negros Oriental and Siquijor under one administrative region, but wagesetting has yet to be consolidated under a single regional wage board. Tolentino said the setup is part of the ongoing transition, with the creation of the NIR wage board still being worked out. The NBI noted that the records merely established registered ownership, corporate interests and links among the properties and companies. It said details on how the properties were acquired, the source of the funds used, or the truth of Gracioso’s other allegations have yet to be established. “The NBI will continue to trace the acquisition history and financing of each property, including the source of capital paid into the resort corporations, the circumstances of the 2023 shares, and the title records of the resort properties,” it added.

Wednesday, October 7, 2026

House prosecutor rejects AMLA confidentiality violation claims By Jovee Marie Dela Cruz

@joveemarie

HE House lead prosecutor maintained that the House of Representatives did not violate the confidentiality provisions of the Anti-Money Laundering Act (AMLA) when it subpoenaed Anti-Money Laundering Council (AMLC) records in connection with the impeachment complaints against Vice President Sara Z. Duterte. House lead prosecutor and Justice Committee Chairperson Gerville “Jinky Bitrics” Luistro said the House acted within its constitutional mandate when the justice committee conducted clarificatory hearings and obtained AMLC records during its proceedings on the impeachment complaints against Duterte. “It is the stand of the prosecution that there is no violation of the Anti-Money Laundering Act when we conducted our hearing in the justice committee and where we issued [a] subpoena for the AMLC records,” Luistro said. “We were exercising our duty as members of the House, we were exercising our duty, which is to initiate all impeachment cases,” she added. Luistro said the Constitution grants the House the exclusive power to initiate impeachment cases, while the Senate has the exclusive power to try and decide all impeachment cases. “And as far as the House is concerned, we maintain the position that everything that happened in

the justice committee, including the plenary, in relation to this impeachment case is part of our mandate and therefore falls under the exception to the confidentiality of data of AMLA or AMLC,” she said. She said the House had studied the confidentiality issue throughout the impeachment proceedings and remained confident that its actions did not violate the law. “And I’m confident that the House of Representatives did not violate the confidentiality provision of the AntiMoney Laundering Act,” Luistro said.

Chilling effect LUISTRO also expressed concern that allegations of a breach of AMLC confidentiality could have a “chilling effect,” particularly on journalists covering the impeachment trial, by creating the impression that reporting on the financial records could constitute a criminal offense. “Let us not forget the significance of this impeachment trial. This is one of the paramount provisions,

the most important provision of the Constitution, as it gives our beloved countrymen the redress against erring impeachable officials,” she said. She also defended the media’s coverage of the proceedings, saying journalists were exercising press freedom in relation to the public interest involved in the impeachment trial. “We feel the same way with the current impeachment trial being conducted by the Senate. The same applies to the media, whose work is simply the exercise of press freedom in relation to the public interest involved in this impeachment trial,” she said. Luistro urged the defense to seek relief from the Supreme Court if it continued to challenge the confidentiality of the AMLC records, saying the issue had already been addressed during the proceedings.

Bloated MEANWHILE, Luistro rejected the defense’s characterization of the P4.4 billion cited in AMLC testimony as a “bloated” figure, stressing that the amount referred to the aggregate value of reported transactions and not the money maintained in bank accounts or the couple’s total wealth. “Let us not be confused. The subject matter of the AMLC testimony is transactions. He is not testifying about the amount maintained in the bank or the amount of the insurance policy,” she said. AMLC Secretariat Executive Director Ronel Buenaventura testified that AMLC records contained about P4.4 billion in aggregate covered and suspicious transactions involving Duterte and her husband, lawyer Manases Carpio, from 2007 to 2025. The figure consisted of P1.63 billion in inflows, P1.31 billion in outflows and P1.46 billion in transactions that could not be reliably classified as either inflows or outflows.

During cross-examination, defense counsel Mark Vinluan questioned the use of aggregate figures, suggesting that totaling transactions could give an inf lated picture of the amounts involved. Luistro, however, said the AMLC testimony concerned transactions reported by covered institutions to the council as either covered or suspicious transactions. “The primary subject matter of his testimony are the transactions reported by covered institutions to the [AMLC] on two bases: either covered transaction or suspicious transaction,” she said. Buenaventura later affirmed before the impeachment court that the AMLC records showed billions of pesos in transactions, including the P4.4 billion figure, although the records did not establish how much money was maintained in the accounts at any particular time. “Based on our tabulation, Your Honor, there are billions. At least as indicated, there are transactions that are in the billions, the P4.4 billion, as well as the millions involving other entities that are indicated in the records,” Buenaventura said when questioned by Senator-Judge Bam Aquino. Aquino asked whether Buenaventura was certain that billions of pesos had moved in and out of the accounts despite the AMLC’s inability to determine the account balances at any particular time. “That is correct. There were transactions,” Buenaventura replied. When asked if he was certain, he answered, “Yes, Your Honor.” House prosecution counsel Mae Divinagracia said the prosecution would compare the AMLC records with bank documents and testimony from other financial witnesses to establish alleged discrepancies in Duterte’s fi-

Labor group: Inflation eroding gains from wage increases By Mary Jade Jadormio

ECENT wage increases are already losing much of their purchasing power as inflation accelerates, according to a labor group. Labor group Sentro ng mga Nagkakaisa at Progresibong Mangagawa (SENTRO) urged the government to respond before rising prices further erode workers’ incomes. SENTRO said the latest inflation figures show that nominal wage gains do not necessarily translate into higher real incomes for workers, particularly those earning minimum wages. “The inflation number is not the whole story. The real story is how much of workers’

PNP chief orders El Niño safety measures for cops BY REX ANTHONY NAVAL

HILIPPINE National Police (PNP) chief Gen. Jose Melencio Nartatez Jr. on Tuesday has ordered all his commanders to tighten workplace safeguards and adjust field deployments as rising heat indices could potentially raise the risk of heat stroke and fatigue among police personnel. Nartatez, in a statement, said protecting police personnel from extreme heat is necessary to keep them fit for duty and able to carry out their responsibilities. “Protecting our police personnel from extreme heat is not only a matter of their health, it is also a matter of operational readiness. We must ensure that every police officer remains fit, alert, and capable of responding to the needs of our communities,” the PNP chief said. He also added that the PNP’s mandate to maintain peace and order, and serve and protect the public begins with ensuring that all our personnel, particularly those assigned on the ground, are mentally and physically ready at all times. The Philippines braces for warmer condiSee “PNP,” A6

income is being eaten by prices,” the labor group said in a statement. SENTRO said the P60 wage increase in the National Capital Region and the P42 increase in Central Visayas have already been partly offset by higher prices. Recent wage adjustments have raised the minimum wage to P755 in the National Capital Region, up by P60 from the previous P695 rate. In Central Visayas, the minimum wage was raised by P42 to P582 from P540. “The wage hikes look bigger on paper than they are in workers’ pockets,” SENTRO said. The group pointed to higher food, housing, utilities and transport costs as key pressures on household budgets, with transport inflation

cited at 14.6%. The impact is heavier on low-income households, SENTRO said, noting that inflation for the bottom 30% of households reached 9%. They also warned that continued uncertainty over the Strait of Hormuz and global oil prices could trigger another round of increases in fuel, transportation, food and electricity costs. “Workers need more than wage increases on paper. They need wages whose purchasing power survives the month,” the statement read. The labor group called on the president to convene a summit on the cost-of-living crisis involving workers, employers, transport

workers, farmers, consumers and government agencies. SENTRO said the summit should produce measures covering wages, prices and incomes, including faster wage adjustments when inflation accelerates and income support for low-wage households affected by major external shocks. It also called for measures to shield commuters and workers from fuel and transport price increases, strengthen domestic food production and pursue policies that generate decent jobs and sustainably raise workers’ incomes. “If prices can move this fast, wages cannot be made to wait.”

Two South Koreans kidnapped in the past 2 months By Malou Talosig-Bartolome

WO South Korean nationals were kidnapped in separate incidents in the Philippines in August and September, both involving ransom demands, according to the South Korean Embassy in Manila. The embassy declined to provide further details, except to say that both victims were safely rescued by the Philippine National Police AntiKidnapping Group (AKG). One of the cases, previously reported by local media, involved a 41-year-old South Korean businessman who was abducted in Pasay City on Sept. 4. According to the AKG, the victim was traveling along Roxas Boulevard with his girlfriend and another Korean national when a sport utility vehicle bumped their car, forcing them to stop. Several men then allegedly seized the businessman and took him away, a modus operandi commonly used in kidnapping-forransom cases. The kidnappers initially demanded P30 million for his release.

Four days later, AKG operatives recovered the victim at a condominium in Pasay City after his family paid nearly P550,000 in ransom. Separately, South Korea’s Foreign Ministry announced in Seoul that another South Korean man in his 40s was kidnapped in the last week of August. The victim was riding in a vehicle with an acquaintance in the Pasay area when abductors forced him into their vehicle and fled, leaving the acquaintance behind. About 18 hours later, the kidnappers contacted another acquaintance of the victim and demanded ransom for his release. The victim was later freed unharmed and was reported to be in good health. According to the South Korean Embassy, the two cases prompted efforts to strengthen coordination with Philippine law enforcement agencies. On Oct. 1, around 40 officials from the South Korean Embassy, the Korean National Police Agency, and the Philippine National Police attended a joint conference on responding to overseas kidnapping

incidents. Participants shared their experiences in handling kidnapping cases and explored ways to enhance joint investigative and crisis-response capabilities. Discussions focused on kidnapping response and crisis negotiation, cybercrime investigation techniques, and informationsharing mechanisms. The officials also conducted a joint simulation exercise designed to improve coordination during abduction incidents. During the conference, the embassy recognized members of the AKG for their role in the safe rescue of the two South Korean nationals. The embassy said the conference reaffirmed the importance of rapid information sharing, coordinated investigations, victim protection, and the swift apprehension of suspects. It added that South Korea would continue working closely with Philippine authorities to strengthen measures aimed at protecting Korean nationals and ensuring that those responsible for crimes against them are brought to justice.

nancial disclosures. “In short, Your Honor, among others, we will show that there is a disproportion in the disclosures, based on the figures appearing in the AMLC records and the records from the banks,” Divinagracia said. She added that the AMLC records did not represent the entirety of the transactions the prosecution intends to establish. Buenaventura

also confirmed that the banks covered by the AMLC report were among those summoned to testify before the impeachment court. The financial records form part of the prosecution’s evidence under Article II of the impeachment case, which involves allegations of unexplained wealth and discrepancies in Duterte’s declarations of assets, liabilities and business interests.

Wednesday, October 7, 2026

DepEd partners with DOH, DILG, PhilHealth for school-based health protection program By Claudeth Mocon-Ciriaco @claudethmc3

HE Department of Education (DepEd) partnered with the Department of Health (DOH), the Department of the Interior and Local Government (DILG), and the Philippine Health Insurance Corporation (PhilHealth) to launch the YAKAP School Health and Protection Program (YAKAP-SHP). This initiative aims to strengthen access to primary care by transforming public schools into organized access points that connect learners, personnel, and families to PhilHealth’s YAKAP primary care services. Under the signed Joint Memorandum Circular (JMC), public schools will serve as organized access points for YAKAP registration, clinic selection, screening, referral and other program activities for learners, teachers, non-teaching staff, and their qualified dependents. The program also covers out-of-school youth and learners with developmental delays and disabilities. The initiative expands access to YAKAP primary care, health screening, and disability-inclusive services through schools and their linkages with YAKAP Clinics and other prov iders. Standard screenings w ill

cover vision, hearing, dental, nutrition, psychosocial, and developmental domains. During the ceremonial signing held at the DepEd headquarters, Angara emphasized that the initiative strengthens inter-agency collaboration on key priorities championed by President Ferdinand R. Marcos Jr., including education and health. Joining Education Secretary Juan Edgardo “Sonny” Angara at the signing were DOH Secretary Dr. Edwin Mercado, DILG Secretary Juanito Victor “Jonvic” Remulla, and PhilHealth President and CEO Dr. Beverly Ho. Angara said the agreement unlocks opportunities to scale YAKAP Program nationwide, utilizing campus clinics to connect school communities directly with PhilHealth benefits. “Napakalaking bagay nito para sa

atin, sa ating mga teachers, sa ating mga learners, at sa kanilang mga pamilya. Nakikita natin tuwing may YAKAP Caravan kasama ang ating Pangulong Bongbong Marcos, laging full house ang pagpunta dahil napakahalaga talaga ng mga serbisyong pino-provide ng PhilHealth,” Angara said. Angara said that DILG’s involvement will help mobilize and coordinate participation from local government units down to the barangay level. In line with Republic Act No. 11650 or the Inclusive Education Act of 2022, the JMC strengthens targeted support for learners with disabilities by integrating disability and developmental screening directly into YAKAP primary care. It establishes referral and carenavigation pathways to appropriate health, rehabilitation, and specialized services, while ensuring that these health interventions complement the Child Find System, educational assessment, Multidisciplinary Team processes, Inclusive Learning Resource Center (ILRC) services, Individualized Education Plans (IEP), reasonable accommodations, and other inclusive education mechanisms. To operationalize the program, Angara also signed a separate bilateral Memorandum of Agreement (MOA) and a Data Sharing Agreement (DSA) with PhilHealth. The five-year MOA enables schools to host YAKAP services and mobile caravans, facilitate beneficiary registration and care navigation, and establish DepEd-managed school clinics that may seek PhilHealth accreditation to directly deliver YAKAP

services. Private healthcare providers and other partners may also “adopt” schools by equipping existing school clinics, providing health professionals, or bringing YAKAP services onsite. Complementing the MOA, the DSA sets strict safeguards under the Data Privacy Act of 2012 for the secure and lawful sharing and processing of necessary beneficiary information between DepEd and PhilHealth, enabling more efficient registration and access to YAKAP services while protecting the privacy and confidentiality of learners and personnel. To receive care, families will follow a four-step process: registration, selection of their preferred YAKAP Clinic from available provider options, completion of the First Patient Encounter (FPE), and empanelment. Health screenings may be conducted in schools by appropriately trained and, where required, licensed or authorized personnel. Schools and other child-serving settings will facilitate these processes in coordination with PhilHealth and YAKAP Clinics, while beneficiaries retain the right to choose their preferred clinic from available provider options. To ensure learners receive continuous treatment, designated health guides or care navigators will handle referrals to the appropriate health, developmental, disability-related and support services. Following the ceremony, DepEd officials inspected Ligas I Elementary School in Bacoor, Cavite, to check clinic preparations for the upcoming rollout .

‘Verification gaps in AMLC reports set dangerous precedent’ By Butch Fernandez @butchfBM

HE Anti-Money Laundering Council (AMLC) report submitted to the Senate Impeachment Court contained news-based allegations without showing independent verification, according to Senator-Judge Alan Peter Cayetano, who warned against setting a “dangerous precedent” and creating confusion rather than clarity. “This trial is to clarify and not to confuse… To put ‘AMLC’ there and put a signature [na] parang official [document] na siya, this is just an official ‘Marites’ report in the end,” Cayetano said on Day 33 of Vice President Sara Duterte’s impeachment trial on October 5. His manifestation came as AMLC Secretariat Executive Director Atty. Ronel Buenaventura testified about a report whose narrative cited news articles and statements made during House Committee hearings on the Vice President’s alleged misuse of confidential funds and drug-related accusations. Buenaventura said it was the bank that had prepared the original report and that the AMLC was only mirroring its findings as submitted. Cayetano criticized the AMLC for not conducting an independent investigation into the bank’s report before certifying it, especially since there was no indication in the report that the bank had conducted its own verification beyond what it saw in the news. “AMLC has the power to take a look at the report of the banks,” he said. “You submit a report [based sa] ganito na narinig lang natin

lahat, nabasa sa dyaryo?” He pointed to a portion of the AMLC-certified document that indicated “malversation of public funds” but showed no independent verification on the part of the bank. “Dito mismo sa page 6, [ang nakasulat]: ‘Triggered in connection with the House Quad Committee hearing on former President Rodrigo Duterte’s war on drugs as well as by news report alleging the involvement of VP Sara in P6.4 billion shabu importation 2017,’” he read. “Nilagyan lang nila ng narrative after nila mabasa sa dyaryo. There’s nothing in this report that shows that the bank went beyond newspaper reports,” he continued. Cayetano warned that circulating allegations in this manner, especially by the AMLC, makes political persecution easier and affects future investigations and public trust. “This is such a dangerous precedent… We’re talking about the future of our country here. We’re talking about trust of people to our leaders,” he said. Cayetano reiterated his call for fairness in the impeachment process by ensuring that any evidence presented is truthful and factual. “Again, in the end, fairness ang kailangan natin dito sa impeachment court,” he said.

‘Tread carefully on laws’

SENATOR-judge Alan Peter Cayetano on Monday cautioned his colleagues that the pursuit of accountability in Vice President Sara Duterte’s impeachment trial must not come at the expense of the law. Addressing Presiding Officer Senator-

judge Francis Escudero, Cayetano reminded the court that the trial is “a political process as much as a legal process,” one in which the public’s desire to know the truth about the Vice President’s finances competes with the duty to follow the rules. “We want the public to know [the truth] as much as possible. [And] we want to hold the impeachable officers accountable. So may naglalaban na values dito,”the Minority Leader said, pointing to the people’s right to know against holding a public official accountable. “But this is not the Wild Wild West. Just because we’re curious or just because we want to hold someone accountable, that doesn’t mean that we will not follow the rules,” he added. Cayetano pressed the court to decide where that line lies, pointing to a provision in the Anti-Money Laundering Law that bars its use for political persecution. “So where is the line? Where is the line between transparency, accountability, and when is there a strict interpretation of the law?” he said. Cayetano drew on his experience in earlier impeachment cases, including those of former Presidents Joseph Estrada and Gloria Arroyo, and former Chief Justice Renato Corona. In the Corona trial, he recalled that the Senate did not look into dollar accounts after the Supreme Court ruled them strictly confidential. “There was always a common denominator that we stopped and we did not bend the law, and we protected the Constitution and the law. Why? Because that is more important than holding one person accountable,” he said.

In contrast, Cayetano noted that AMLC Secretariat Executive Director Atty. Ronel Buenaventura, who testified on Monday “did not even pause” when it came to dollar transactions and did not ask whether the impeachment court would allow it. The senator-judge also said the Corona court allowed documents going back ten years to establish a baseline, but made no strict legal interpretation at the time. He argued that the present case is different because of the Supreme Court decision in Duterte versus House of Representatives, which he said ties an impeachment to the official’s current term. “That’s the prevailing Supreme Court decision. If we do not agree with that, we challenge that decision. We don’t just say here that that decision does not apply, it’s quite clear. How many times do we have to violate the Constitution in this court when it’s very, very clear?” he warned. Cayetano also observed that the prosecution appears to already have documents and figures covering the Vice President’s current term, so there is little need to argue over earlier records. He urged prosecutors to focus instead on the evidence, noting that law students have been asking him why the court keeps allowing questioned evidence. “The judges have to be able to render the judgment out of fairness based on law,”he said. “We’re not arguing on the facts now, Mr. President. We’re not arguing on the evidence. We’re arguing on the application of the law, kung anong pwede at anong bawal,”he added.

Jinggoy bristles at photos that seem to say he cannibalized his office before vacating it

HE Office of Senator Jinggoy Ejercito Estrada on Tuesday took exception to the statements, reports, and comments circulating regarding the condition of the room the senator previously occupied on the 6th floor of the Senate. In a statement, Estrada said his office, through its Chief of Staff, Atty. Racquel Mejia, “duly informed the Office of Senate President Pro Tempore Vicente Sotto III, ahead of the October 5, 2026 deadline given to vacate, that the fixtures, furnishings, and materials in the office would be brought along to the Senator’s new office.” Most of these items (e.g. floor tiles, glass panels, lighting fixtures, cabinets etc.) were, he explained, “acquired

using personal funds, as the budget provided by the Senate was insufficient to cover all the expenses incurred.” He continued: “It bears noting that ‘standard practice’ in the Senate is for the senator occupying an office to renovate the space based on the budget provided, with any expense beyond that shouldered entirely by the occupant. Let it be stressed, in no uncertain terms, that ‘not a single centavo of public funds was wasted.’ In fact, the Senate will bear no cost whatsoever for office supplies and materials, as most, if not all, of those used in the previous office will simply be re-used in the new one. If anything, this practice reflects prudence and efficiency, not controversy. This

matter has been fully explained to the resident COA auditor.” In the spirit of “full transparency,” Estrada said the vacated office, when it was turned over to him in 2022, was likewise bare, following this same long-standing practice. “Standard practice ito sa Senado at hindi na dapat ikagulat pa o gawin pang isyu [This is standard practice in the Senate and should not come as a surprise or be made an issue of ].” It must also be emphasized, added Estrada, that “similar instances of dismantling fixtures and materials from a vacated senator’s office have occurred in the recent past. This is neither new nor unusual — it is an established

and accepted practice within the institution, and singling out this particular transition for scrutiny is both unfair and misleading.” Records will further show that, for the past four years, the Office of Senator Jinggoy Ejercito Estrada had only been occupying space on the 6th floor and had merely been allotted an extension office on the 5th floor — unlike the rest of the senators, each of whom was given a full office space on the 5th floor. “We trust that this clarifies the matter and respectfully appeal that this routine administrative transition not be unnecessarily politicized, sensationalized, or made into a manufactured controversy where none exists,” Estrada concluded. Butch Fernandez

Remulla raises concern over BOC’s lack of data sharing By Joel R. San Juan @jrsanjuan1573

MBUDSMAN Jesus Crispin Remulla has expressed concern over the lack of cooperation and data sharing from the Bureau of Customs (BOC), which has hindered the government’s efforts to investigate and prosecute smuggling cases. Remulla, in a radio interview over the weekend, said he his office, together with the BOC and the Department of Justice (DOJ),had conducted a meeting to address the issue which said had resulted in the dismissal of some smuggling cases. “We held a meeting with Customs and the DOJ to put an end to this smuggling mess,” Remulla said. In particular, Remulla cited the BOC’s refusal to complete the documentation which led to certain smuggling cases being dismissed. “When we file a case or conduct an investigation, we would request the necessary documents [from the BOC], but the documents do not arrive,” Remulla said. He noted that the Department of Budget

and Management (DBM) has already agreed to data sharing. “Now, it is the Customs that we need to challenge,” he added. Remulla raised the concern amid the government’s intensified campaign against smuggling, which has recently resulted in a series of seizures by the BOC and joint operations with the National Bureau of Investigation (NBI) and other law enforcement agencies. At least two recent anti-smuggling operations have apparently involved some BOC agents. The NBI conducted an operation last month in a rendering facility in Santa Maria, Bulacan, where tons of frozen chicken meat meant for destruction were allegedly being offered for sale by BOC personnel. In August, the Philippine National PoliceHighway Patrol Group (PNP-HPG) raided a Bulacan warehouse storing allegedly smuggled cigarettes. But upon arrival in the warehouse, they found that two BOC personnel had allegedly attempted to sell the smuggled cigarettes that were supposed to be destroyed.

Sandiganbayan orders turnover to govt of Paco property subject of ill-gotten wealth case

HE Second Division of the Sandiganbayan has directed the Register of Deeds of Manila to transfer to the government the ownership of a commercial property located in Paco, Manila which was a subject of an ill-gotten wealth case against the late lumber baron and alleged Marcos crony Alfonso Lim. In a nine-page resolution, the Second Division granted the motion for execution of judgment filed by the government through the Presidential Commission on Good Government (PCGG) seeking the divestment of Transfer Certificate Title (TCT) No. 78732 under Taggat Industries Inc. in favor of the government. The order was in line with the Court’s decision issued on December 14, 2015 granting the government amended complaint seeking the return to the government the properties and funds owned by Taggat Industries in the case involving Lim, who held multiple Timber License Agreements (TLAs) under seven logging companies. Based on the records, the PCGG filed a motion for issuance of a writ of execution on January 26, 2017 which the court granted in a resolution issued on October 3, 2017. On February 19, 2018, a writ of execution was consequently issued directing the implementation of the judgment with respect to the funds and properties acquired through the cancelled TLAs.

PNP. . . Continued from A5

tions linked to super El Niño as experts said heat indices in urban areas, including Metro Manila, could reach 50 degrees Celsius during the phenomenon. Weather experts said warmer temperatures are expected across most parts of the country from October this year to March 2027. The effects of the weather phenomenon are also expected to intensify in late 2026 and persist until early 2027. Likewise, Nartatez ordered police offices

The PCGG then filed a motion for execution of judgment, seeking the divestment of titles that remain registered in defendants’ names. In its resolution dated November 26, 2021, the court granted the motion with respect to the seven titles identified in the motion. The PCGG filed another motion for execution of judgment after discovering that the Paco property is still registered in the name of Taggat and had mistakenly been excluded from the court’s January 15 and November 26 resolutions. In granting the motion, the Sandiganbayan said the motion merely seeks the continued implementation of the December 14, 2015 with respect to TCT No. 78732. It added that the motion “seeks neither a new adjudication nor an enlargement” of its December 14 decision. “Considering these circumstances as a whole, the Court finds that the present Motion forms part of the Republic’s successive efforts to obtain complete implementation of the same final judgment, rather than an attempt to enforce a judgment that had been left dormant and unacted upon,” the anti-graft court noted. “Accordingly, under the particular circumstances of this case, the Court finds sufficient basis to allow the continued implementation of the December 14, 2015 Decision with respect to TCT No. 78732,” it added.Joel R. San Juan and units to review their deployment plans and consider rotational shifts to limit prolonged exposure to extreme temperatures. The measures are intended to reduce heat-related risks among personnel who perform patrol, traffic management, security, public assistance, and other duties that require prolonged exposure to outdoor conditions. Police commanders were also reminded to ensure that personnel have access to drinking water and appropriate protective gear. They were also tasked to manage working hours and field assignments based on prevailing weather conditions.

MMDA and Manila LGU to build 3 rainwater impounding facilities

O address flooding in certain areas of the city, the Metropolitan Manila Development Authority (MMDA) and the City of Manila signed a Memorandum of Agreement (MOA) on Tuesday for the development of three Rainwater Impounding Facilities (RIFs). The proposed RIFs will be located at Rajah Sulayman Park, Remedios Circle, and ASEAN Garden within the Cultural Center of the Philippines (CCP) Complex near the Vito Cruz Drainage Main Outfall. The proposed sites were identified following technical studies by Haskoning, which assessed their feasibility as locations for RIFs, particularly in areas that have experienced recurring flooding. The MOA formalizes the collaboration between the MMDA and the City of Manila to address flooding and implement flood management measures in the city, in line with President Ferdinand R. Marcos Jr.’s directive to complete

flood management projects ahead of the next rainy season. The three RIF projects have a target completion date of June 30, 2027. “Our goal is to collaborate with the City of Manila to help relieve flooding in certain areas of Manila. We thank Mayor Isko for the continued support and cooperation of the city government as we work together to implement flood management measures,” MMDA Romando Artes said. The three projects are designed to temporarily store excess stormwater during heavy rainfall, ease pressure on existing drainage systems, and reduce flood risks in surrounding communities. The Rajah Sulayman Park RIF will provide temporary underground or subsurface storage for excess stormwater, while the Remedios Circle project will combine rainwater storage with drainage improvement works and nature-based solutions. Meanwhile, the ASEAN Garden RIF will capture floodwaters coming from the Vito Cruz catchment through the drainage main along P. Ocampo Street. Claudeth Mocon-Ciriaco

TheWorld Thailand’s capital braces for floods before global finance chiefs gather By Satid Sutipanya Bloomberg News

ANGKOK is preparing for possible flooding as more than 15,000 delegates are due to arrive for the annual meetings of the International Monetary Fund and World Bank Group. The Thai capital could receive about 2 inches of rain a day from October 11-13, coinciding with the start of the weeklong gathering of finance ministers, central bankers, executives and other delegates from the institutions’ 191 member countries, according to Surapong Sarapa, the Meteorological Department’s head of forecasting. The preparations come shortly after a late-September deluge dumped more than 12 inches of rain on Bangkok over several days, flooding roads and homes, disrupting flights and temporarily shutting factories. Prime Minister Anutin Charnvirakul has instructed agencies to prepare for severe flooding and avoid a repeat of the travel chaos that accompanied the September deluge. Large trucks and fourwheel-drive vehicles will be available to transport delegates if roads flood, while hundreds of pumps are being positioned to drain water. Officials have drawn up contingency plans tied to floodwater levels. At 6 inches, authorities would accelerate drainage to keep routes open for more than 400 motorcade vehicles. At about 10 inches, electric BMWs would be replaced with buses; at about 20 inches, delegates would be directed onto Bangkok’s rail network. In an extreme scenario in which floodwater reaches 10 feet, the meetings would be canceled.

“There must be no disruptions like those seen last week,” Anutin said. The coming rain isn’t expected to be as severe as the September event. It should be more widespread but shorter-lived than the persistent downpours that overwhelmed Bangkok’s drainage system last month, Surapong said in a phone interview. Still, the wider water system has limited capacity to absorb another deluge. Key reservoirs in central Thailand were about 91 percent full as of October 5, increasing the risk of flooding if heavy rain persists. One major dam was already above its normal capacity, raising the prospect of more water being released downstream toward provinces surrounding Bangkok, according to Hannarong Yaowalers, a T hai water-resources advocate. Officials say the central areas where many delegates are staying are designed to drain water relatively quickly into the Chao Phraya River. The river is currently about one meter (3.3 feet) below Bangkok’s flood barriers, leaving some capacity to absorb additional water, government spokesman Ekkapob Pianpises said. The IMF-World Bank meetings are an important showcase for Thailand as it seeks to attract investment and position Bangkok as a regional business and financial center. “ Ho s t i n g t h i s me e t i n g i s an important opportunity for T h a i l a nd to c re ate e conomi c v a lu e , e x p a n d t r a d e a n d strengthen confidence in Thailand internationally,” A nutin said.

Wednesday, October 7, 2026

Migrants questioning future in E. Germany after AfD win By Kirstein Grieshaber

is completing her specialist training in internal medicine. Akhras, who wears a hijab, says she feels appreciated at work, but has lately encountered hostility while shopping and no longer feels safe leaving home in the evening. Her sense of not belonging has become overwhelming since the election. “Our children will never be recognized as Germans here,” she said.

problems—slow growth, high inflation, rising energy prices—have worsened, public sentiment toward the newcomers has deteriorated. The AfD and other critics of immigration have blamed migrants for the country’s problems. T he 13 -year-old par t y has gained support particularly rapidly in Germany’s formerly communist and economically weaker eastern states, including SaxonyAnhalt. However, it also continues to gain on the national level. It is the strongest opposition party in parliament and leads recent polls. The AfD’s victory in SaxonyAnhalt last month underlined the party’s skill in capitalizing on discontent with issues well beyond its core theme of curbing immigration as Chancellor Friedrich Merz’s unpopular national government struggles to turn around Germany’s stubbornly sluggish economy. The party’s strong showing has unsettled migrants and those Germans who thought the nation was immune to nationalism after the horrors of the Nazi past.

Mood toward migrants

Fear of more deportations

The Associated Press

ERLIN—Ever since the far-right, anti-immigrant Alternative for Germany party won a regional election last month, not a day goes by without Ola Akhras and her husband discussing whether they should go back to Syria. The couple live with their two young daughters in Magdeburg, where Sa xony-A nhalt’s newly elected state legislature is meeting Tuesday for the first time since the Alternative for Germany, or AfD, surged to its best result yet — putting it in a strong position to form Germany’s first far-right regional government since World War II. During its first sitting, the 83-seat legislature will elect its speaker—a job that traditionally goes to the largest party—and the AfD hopes for an initial symbolic victory. The state’s next governor is unlikely to be chosen before December. “It’s bad—we’ve built our lives here, we really loved being here, but now we don’t feel welcome anymore,” said Akhras, who fled Homs for Germany in 2018. She speaks fluent German and works as a doctor at the local hospital, where she

THE mood in society is very different from a decade ago, when Germans welcomed more than a million migrants from war-torn countries such as Syria, Iraq and Afghanistan under Chancellor Angela Merkel. Many built new lives, learned the language and found work. However, as Germany’s economic

IT remains uncertain that AfD will form the next government in Saxony-Anhalt—it fell three seats short of a majority in the Sept. 6 election. But many immigrants and refugees fear that if the farright party succeeds in heading the state government it could try to implement its campaign promises, which include more and faster

Russia reports death of a worker at a plague institute in Siberia By The Associated Press

USSIAN authorities have q u a ra nt i n e d a h o s p i t a l a n d are monitoring contacts of an employee at a plague research institute in Siberia who contracted pneumonia of an “unknown” cause. Local state TV said the woman died last week. Russian authorities said they found no evidence that her illness was caused by any of the pathogens she worked with. But the case has raised alarm in Russia after unconfirmed media reports suggested she might have died of pneumonic plague—a less common but severe form of plague that can spread from person to person. The woman worked at the Irkutsk Anti-Plague Research Institute of Siberia and the Far East in Irkutsk, southeastern Siberia. A state TV station in Irkutsk reported Monday that she died last week in a hospital in Shelekhov, a town just outside Irkutsk. The hospital has been placed under quarantine, Mayor Maxim Modin said Friday, no longer admitting or discharging patients, and its laboratory halted carrying out routine tests. The hospital’s outpatient clinic kept operating as usual, he said. Anna Popova, head of Russia’s public health watchdog, Rospotrebnadzor, flew to Irkutsk and met with Gov. Igor Kobzev and other officials on Friday. Kobzev said everyone who came into contact with the woman is under medical supervision. He didn’t identify the infection and called it a suspected case of “a particularly dangerous infection.” Rospotrebnadzor was implementing “a full range of anti-epidemic measures,” he added. Rospotrebnadzor said Sunday the woman was diagnosed with “pneumonia of unknown etiology,” or origin, and said “ex tensive” testing found “no microorganisms associated with the patient’s professional activities.” The agency also said it didn’t uncover

deportations as well as restrictions on the admission of asylum seekers. There are no figures yet showing whether racist incidents have increased since the election, but “counseling centers are extremely busy, the phones are ringing off the hook, counseling appointments are fully booked, and people are in great need of counseling and support,” said Undra Dressler, the executive director of the Saxony-Anhalt State Network of Migrant Organizations. “We know of people who have left, people who are considering it, and people who have made a conscious decision against it and say: ‘I’m staying. I won’t accept these conditions. Now more than ever, I’m going to get involved,’” Dressler said. One of those determined to stay is Mohamad Aldabagh, a pharmacist from Homs who fled to Germany in 2015 at the height of Syria’s civil war. That year, hundreds of thousands crossed the Mediterranean on flimsy rubber boats in hopes of finding a safer future in Europe. “It’s been a very good experience living in Germany over the past 10 years,” said Aldabagh, a 34-year-old father of two young children who works at a pharmacy in Magdeburg. “I’ve rebuilt my life here, and I won’t let anyone take that away from me.” While he says he has experienced racism as well, he believes that skilled workers like himself or the many foreign doctors working in Germany are needed and that society can’t afford to treat them badly.

‘Culturally foreign’ workers

WHILE the AfD program for Saxony-Anhalt does not reject labor migration altogether, it takes a highly selective approach to recruiting foreign workers. The party explicitly proposes refraining from recruiting workers it describes as “culturally foreign” and ending a state program designed to support the integration of foreign skilled workers, says Rahim Hajji, a professor of social and health services at Magdeburg-Stendal University of Applied Sciences. “ This raises a fundamental question,” Hajji said. “How is a state with an ageing population and growing labor shortages supposed to meet its demand for skilled workers if it substantially restricts the pool of international workers it is willing to recruit?”

any incidents at the institute “involving pathogenic microorganisms.” Two people who were in contact with the woman tested positive for a virus that causes a common cold and two others for Covid-19, the agency said, adding that others who were tested were all negative.

Trump concerned about reports

IN Washington, President Donald Trump said he was watching the situation with concern and said the United States would be willing to help, though he said he had not spoken to Russian President Vladimir Putin about the situation. “It’s a rough disease. You know, that’s a disease we used to be able to control, but somehow those microbes have gotten stronger and smarter. They’re like an army,” Trump told reporters outside the White House. “Even with great advancement, the germs have really become relatively stronger than they were, and things that used to work on pneumonia don’t work as well anymore.” US Secretary of State Marco Rubio said Monday he doesn’t think there is cause for alarm, but the US is watching the case closely, aware that “it could spread quickly” despite the quarantine and other public health protocols. Independent local news outlet Lyudi Baikala quoted sources it did not identify as saying the 28-year-old lab technician died from pneumonic plague and that several Irkutsk hospitals were placed under quarantine. Asked Monday to comment on the case, Kremlin spokesman Dmitry Peskov said the public and media should follow official statements from Rospotrebnadzor, rather than “rumors or speculation.” Rospotrebnadzor did not immediately respond to a request for comment. The Irkutsk Aluminum Plant in Shelekhov required staff to wear masks as a precaution, its director Artyom Fominykh said Saturday on Telegram, calling for calm and adding: “Better be safe than sorry.”

AFD supporters wave AfD flags and German national flags during a demonstration in front of the Brandenburg Gate in Berlin, Germany, May 27, 2018. AP/MARKUS SCHREIBER

French student unrest spreads as teachers also walk out By Benoit Berthelot & William Horobin Bloomberg News

UNDREDS of French high schools will shut Tuesday as teacher unions join a student-led protest movement demanding more money for education. The protests, calling for smaller class sizes, building renovations and a reform of the system that allocates university places, started in the Paris region in September before unexpectedly gaining steam last week with hundreds of blockades, some marred with fires, and violent clashes with the police. Leading unions, including Unsa, the CFDT and the CGT, have called for teachers to strike and join students in their protests, with a main demonstration expected in Paris in the afternoon. The government warned that the un-

rest had turned into “urban violence” and blamed the far left for being behind the movement. About 6,000 individuals have been arrested, Interior Minister Laurent Nunez said in an interview on Tuesday on France Inter radio. The level of intensity of the protests is “unprecedented,” with a “lot of violence,” coming from the perpetrators, Nunez said. About 400 high schools—or lycées— were closed or disrupted on Monday, out of about 3,700. An Odoxa poll for Le Figaro published Thursday showed that 62% of the French support the student mobilization. In an effort to ease the tensions, Prime Minister Sébastien Lecornu sent a letter on Sunday to his ministers, calling on them to make proposals on the issues raised by the students. The letter noted that the government’s initial budget proposal contained an increase of €1.2 billion ($1.3 billion) next year for education.

Tensions on markets

YET there’s little room for costly reforms. The unrest comes against a backdrop of heightened scrutiny in financial markets as investors dump French assets on concerns over a bloated budget deficit and political instability. The government is trying to get parliamentary backing to sharply restrain public spending to pare the fiscal shortfall to 5 percent of economic output in 2027—the target it missed this year. But opposition groups who have twice toppled prime ministers over budget plans in the last two years are reluctant to compromise with less than seven months until presidential elections. On Tuesday, far-right leader Marine Le Pen—the candidate who leads polling for the first round of voting—will present her budget proposals and a longer-term plan for €125 billion of savings if she’s elected. On the immediate issue of the 2027 finance bill, her National Rally has indicated its willingness to cooperate but not offer

a “blank check,” lawmaker Jean-Philippe Tanguy said on Sunday. “We want to avoid the worst - an escalation of the bond market crisis,” he said on Europe 1 radio. “It’s obvious that censuring the government could contribute to the escalation and we don’t want that.” The students unrest add to a wider cost-of-living crisis in the country, linked to a surge in fuel prices sparked by global conflicts. Fishermen blockaded several ports in late September. Meanwhile, calls are multiplying on social media to resume the Yellow Vest protests, a grassroots movement that started in 2018 and later morphed into nationwide riots. Another day of general protests is planned for October 17, touted by JeanLuc Mélenchon’s far-left France Unbowed party. And five unions have called for a nationwide day of strikes on November 5 in support of higher pay, public services, jobs and industry.

Wednesday, October 7, 2026

TheWorld

www.businessmirror.com.ph

chief exec warns Trump eases limits on dyed Petronas of LNG ‘bloodbath’ diesel in bid to cut fuel cost risks as prices surge By Hadriana Lowenkron, Jennifer A. Dlouhy & Josh Wingrove

Bloomberg News

RESIDENT Donald Trump signed an executive order to ease restrictions on the use of a tax-exempt variety of diesel, his latest bid to pare costs for the fuel ahead of November’s midterm elections. Trump signed the order during an event in Grand Island, Nebraska, part of a month-long blitz to rally Republican voters before an election that threatens to cost the president’s party control of Congress. Trump is pitching his initiative as a tax savings—a way to effectively waive a 24-cent-per gallon tax on conventional diesel without help from the House and Senate, now on a pre-election recess. The move marks the latest effort by the White House to address costs for diesel that have surged amid wars in Russia and the Middle East that pared refining capacity and reduced the shipment of petroleum products globally. High prices for the fuel have been a particular flashpoint in heartland states, where it brings power to rural communities and helps farmers drive equipment. Trump’s plan would effectively allow more widespread use of red or dyed diesel, which is generally available for off-road purposes, such as in farm and construction equipment. Red diesel is exempt

from the federal excise tax and enabling its use in on-road vehicles without penalties could translate into an effective tax break in some cases. The president said his red-diesel plan would “officially waive the off-road requirement and allow anyone to purchase tax-free, red-dyed diesel for any reason.” While the move wouldn’t directly lower operational costs for harvesters, tractors, excavators and other off-road equipment that already runs on tax-exempt red diesel, it’s seen as potentially cutting the expense to run pickup trucks and other on-road vehicles. Trump’s decision to announce the move in a largely rural conservative Nebraska district that he won handily in all three presidential campaigns underscores how Republicans are on the defensive with less than a month to Election Day and the sense of urgency within the party in shoring up support among farmers and ranchers. Farmers and ranchers, key constituencies for Republicans, have faced economic challenges in the

second Trump administration that go well beyond diesel prices. Rural communities are struggling with higher costs for a range of agricultural inputs and shrunken markets for crops due to Trump’s tariffs. Trump also rankled ranchers by signing an order in August to ease tariffs on some beef imports, a bid to ease grocery prices, that also drew criticism from ranchers. The president said the order would have far-reaching effects, calling it an “unprecedented step to bring down costs.” “This order will also drive down the cost of all goods, including grocery prices, very substantially,” Trump said. The president also cast the order as a temporary salve, saying “we’re not going to need it long. I hope we’re not going to need it long, because your prices are plummeting, and they’re going to really be plummeting in just a little while.” Unlike some state interventions that limited red diesel liberalization to forestry and farm industries, Trump’s order has broader reach. The directive itself casts the plan as a money-saving initiative. “This targeted action will put money directly in the pocket of American farmers, truckers, and workers, to support their vital service to our Nation,” it says. Under Trump’s order, the IRS will make clear it won’t impose penalties when dyed diesel is sold for highway use through the end of the year. Trump’s measure aims to ensure farmers continue to have reliable access to dyed diesel by directing Agriculture Secretary Brooke Rollins to ensure adequate

distribution of the product. Yet energy experts and economists have questioned whether Trump’s move would have a sweeping impact, warning the infrastructure for delivering red diesel is limited. It also risks blowback in the form of higher prices for farmers, if more on-road customers seeking the tax-exempt dyed diesel strain existing supply of that red variety. Already at least 10 governors have waived state limits on the sale of red diesel and lifted fuel excise taxes. Under Trump’s order, the administration would encourage more states to adopt corresponding policies. With less than a month until Election Day, polls show voters unhappy with Trump’s economic agenda, in particular high costs of living for groceries, energy, housing and other items, as well as his handling of the Iran war, which has also spiked energy costs. That crunch for household budgets has made affordability the election’s dominant issue. Trump at Monday’s rally sought to boost Republican Nebraska Senator Pete Ricketts, who finds himself in a surprisingly competitive race against an independent challenger, Dan Osborn. While Ricketts is still favored, the fact that the race is close in a state Trump won by about 20 percentage points just two years ago underscores how the president’s party is being challenged even in states that have long been GOP redoubts. “This should absolutely assure your election,” Trump told Ricketts on Monday.

Sinking Tuvalu appeals for more climate action By David Stringer & Azman Usmani Bloomberg News

DELEGATION of global dignitaries visited remote, climate changethreatened Tuvalu in the western Pacific Ocean, as advocates press the case for stronger commitments to combat greenhouse gas emissions. The archipelago of nine small islands is the world’s second lowest-lying nation and particularly susceptible to the impacts of sea-level rise, suffering frequent flooding that sweeps through homes, infrastructure and even the runway of the international airport. Australia’s Prime Minister Anthony Albanese and Mauritius’ Prime Minister Navinchandra Ramgoolam were among a group of more than a dozen leaders to

join the visit Tuesday, part of a wider event hosted by Fiji to prepare for November’s annual United Nations-convened climate talks in Antalya, Turkey. Other attendees to travel to Tuvalu included Nepal’s Foreign Minister Shisir Khanal and the head of the Asian Development Bank. “Climate change isn’t a future challenge for the Pacific, it’s a daily reality,” Albanese said Tuesday in a post on LinkedIn. “And here in Tuvalu, the stakes are higher than any other part of the world.” Sea levels rose by an average of 4.7 millimeters a year in the decade to 2023 and a record 5.9 millimeters in 2024 as a result of melting glaciers and the thermal expansion of oceans triggered by human-induced global warming, the UN said in a repor t earlier this year. Around the world, nearly 770 million people live in coastal areas that are 5

meters (16.4 feet) or less above the high tide line, putting them at acute risk, the UN said. Across parts of the Pacific, sea levels have advanced at more than twice the global average over the past three decades, triggering the relocation of communities in nations including Fiji, Vanuatu and the Solomon Islands. Pacific leaders are seeking to use talks this week to push the case for greater global efforts on decarbonization, improved access to climate finance and a new prioritization of ocean preservation. “We are coming to the Pacific to bear witness for how the tide is already pressing against the door,” Murat Kurum, Turkey’s environment minister and presidentdesignate of next month’s COP31 summit, said in a statement. “We want to remind world leaders that promises do not hold

back the sea or shield homes from the fire. Only delivery can save us.” Under a compromise agreement on hosting arrangements for COP31, the event will take place in Turkey, and Australia— which had also sought to stage the talks—will manage formal negotiations. Both countries are facing criticism over their ties to fossil fuels. Australia is a dominant exporter of coal and natural gas, and Turkey’s power generation sector remains heavily reliant on the energy sources. “As a fossil fuel exporting nation, we can bring something different to the table, which is the need for countries to work together on the transition, both on demand as well as supply,” Australia’s Climate Change and Energy Minister Chris Bowen—who will serve as COP31 president of negotiations—told reporters Monday.

By Olga Tanas Bloomberg News

URGING LNG prices risk destroying demand for the superchilled fuel and triggering a “bloodbath” in global markets, according to Malaysia’s Petroliam Nasional Bhd. Chief Executive Officer Muhammad Taufik. The LNG market “is going to be a very, very, very, very tight market” this winter, particularly if Europe’s gas storage that’s at a multi-year low ahead of winter season “gets more compromised,” Taufik told reporters Monday on the sidelines of the Energy Intelligence Forum in London. “We want to avoid a situation where we have a bloodbath in LNG markets,” when soaring spot prices begin to chip away at longerterm demand, he said. Asia, home to many of the world’s largest LNG buyers, is facing one of its biggest supply shocks in recent years after the war in Iran and near-closure of the Strait of Hormuz choked off shipments. The disruption threatens to intensify competition with Europe, where gas inventories are at their lowest since 2009, for alternative supplies from the US and elsewhere. Asia-Pacific has about 38 billion cubic meters of underground gas storage capacity, mostly in China, and relies more heavily on LNG tank storage, according to the International Energy Agency. Europe has about 150 billion cubic meters of underground capacity, roughly 70 percent of it in the European Union. Asian buyers paying about $25 to $28 per million British thermal units for LNG “aren’t flinching yet,” Taufik said. “And I don’t know where it stops, and if it hits $40 to $50, people may start switching to other less sustainable, less responsible” forms of energy. “We don’t want demand destructed,” Taufik said. Asia’s heavy reliance on imported energy has left it particularly exposed to the Middle East conflict. Some countries previously sourced about 60 percent to 70 percent of their LNG imports from the Middle East, Taufik said earlier during the forum. He called for opening more acreage to exploration and developing enough new supply to do more than simply offset declines at existing fields. “I’m not so sure Asia is going to be able to be resilient beyond 2027, at least because there’s not the wealth of reserves or storage that some of the more prescient nations such as Japan and China will build up their SPRs,” Taufik said at the session.

Yemeni forces expel Houthi rebels from several areas around key strait By Ahmed Al-Haj & Samy Magdy The Associated Press

DEN, YEMEN—Forces of the Saudi-led coalition fighting in Yemen have recaptured several key areas around the strategic Bab el-Mandeb Strait from Iran-backed Houthi rebels, Yemeni officials said Monday, while the Houthis claimed attacks on Saudi oil facilities, airports and military bases as fighting escalated on Yemen’s western coast. The Yemeni officials said forces allied with the internationally recognized government retook the crucial town of Dhubab just north of the strait, a vital shipping route that connects the Red Sea with the Gulf of Aden. They also captured the towns of Bab and Hadeid, said the officials, who spoke on condition of anonymity because they were not authorized to speak to reporters. Witnesses said they saw government tanks and forces entering the towns. The government push came as part of a major offensive launched early Monday under air cover by a Saudi military coalition. Brig. Gen. Yahya Saree, the Houthis’ militar y spokesman, claimed in a pre-recorded statement that the rebels used ballistic and cruise missiles and drones in attacks targeting King Khalid International Airport in the Saudi capital, Riyadh, and an oil refinery in the Red Sea city of Rabigh. Also attacked were Abha airport, military facilities in Khamis Mushait and other “critical sites” in the cities of Najran and Jizan, he claimed. US Secretary of State Marco Rubio told reporters that it was expected that the Saudi-backed

government would hit back at the rebels to reclaim territory. Asked if the coalition coordinated the action with the United States, Rubio said that Saudi Arabia and the US have a defense agreement but wouldn’t offer more details. Since the Yemeni government was ousted from some of its territory by the Houthis and the Saudis have come under attack, “they have a right to defend themselves,” Rubio said.

Warning of possible attacks

THE US has provided support to Saudi Arabia in its ongoing campaign against the Houthis, according to a regional official and a US official who spoke on condition of anonymity because they weren’t authorized to speak to reporters. The support included intelligence sharing, target identification and planning for the offensive, said the officials. The US had supported the Saudi-led coalition fighting the Houthis early in the Yemen war, before quitting the coalition in recent years. The US Embassy in Riyadh warned US citizens on social media to be vigilant about possible drone or missile attacks. The offensive came just after the rebels said they had captured more territory in the southwestern part of Yemen, taking a key town in a blow to the Saudibacked forces as they advanced toward a strategic prov incial capital in the region. The Saudi-led coalition spokesman, Maj. Gen. Turki al-Malki, said 100 fighter jets were providing support to government forces. He said the coalition secured “air protection” of the Bab el-Mandeb Strait and destroyed hundreds of Houthi targets.

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NEW PHL-POLAND ACCORD ON ICT AS POLISH LEADER VISITS

MID the ongoing historic state visit in the Philippines of Polish President Karol Nawrocki—the first state leader of Poland to do so—President Ferdinand Marcos Jr. said a new Memorandum of Understanding (MOU) on Information and Communications Technology (ICT) between the two countries is now in the works. Marcos made the announcement after he and Nawrocki witnessed the presentation and exchange of a signed agreement on Mutual Legal Assistance and Criminal Matters between Manila and Warsaw in Malacañang last Tuesday. Prior to the event, both state leaders also held a bilateral meeting where they discussed possible areas of cooperation as well as international matters of mutual concern like the challenges in the South China Sea and security developments in Ukraine and in Europe. Once finalized, Marcos said the new MOU will provide the framework for cooperation in cybersecurity, e-governance, and digital connectivity between the two countries. This was on top of the ongoing cooperation of Manila and Warsaw in science, technology, and innovation, including in space technologies as the former aspires to ramp up its space program. “We noted the ongoing engagement between our respective space agencies, the Philippine Space Agency and the Polish Space Agency, in this exciting and very promising area of cooperation,” Marcos said. The two countries, he said, will also continue their ongoing joint initiatives in defense, which includes the Philippines buying S-70 Black Hawk combat utility he-

licopters from Poland and building on the outcomes of the inaugural Philippines-Poland Joint Defense Cooperation Committee. They also strengthened their legal cooperation with the signing of the Agreement Mutual Legal Assistance in Criminal Matters, which will translate to enhanced legal assistance and cooperation and criminal proceedings, last Tuesday and the Agreement on a Transfer of Sentenced Persons earlier this year. He said the Philippines is also open to negotiate with Poland on an extradition agreement. When it comes to trade, Marcos said he and Nawrocki have committed to support private sector interest in partnerships and investment opportunities. For agriculture, they agreed to enhance cooperation on trade, market access, sanitary and phytosanitary cooperation, technologies, and agricultural research and education. They also committed greater peopleto-people exchanges through cooperation between their tourism ministries. “President Nawrocki’s historic visit marks an important milestone in the growing partnership between the Philippines and Poland and sustains the momentum of recent high-level exchanges,” Marcos said. “The Philippines also looks forward to building on the momentum of this visit and exploring even more ways to enhance our cooperation with Poland in the years ahead,” he added. Nawrocki is scheduled to end his state visit in the Philippines on Thursday. Samuel P. Medenilla

Wednesday, October 7, 2026 A9

PHL rallies Asean to support $200-B energy investments

By Lenie Lectura @llectura

NERGY Secretary Sharon Garin is strongly advocating for wider involvement among neighboring countries to support the needed $200-billion annual energy investment by 2030, with $150 billion earmarked specifically for clean energy. At the opening of the 2026 Asean Energy Business Forum (AEBF), Garin said that as energy demand grows alongside economies, Southeast Asian countries must ensure that the transition to a sustainable energy future supports inclusive economic growth, attracts investment, harnesses innovation and emerging technologies, and strengthens the security and resilience of energy systems. The forum’s theme was, “Clean Energy Unlocked: A Stronger Asean, Driving Innovation and Investment Toward a Sustainable Energy Future.”

According to Garin, “Policy can set the direction and create the conditions for progress. But, policy cannot exist in a vacuum. In turn—investment, innovation, and partnership must transform policy into reality.” AEBF provides a platform where regional priorities can meet the capital, technology, expertise, and partnerships needed to achieve them. Garin cited the Asean Centre for Energy (ACE) report in which the region will require around $200 billion in annual energy investment by 2030. ACE further indicated that approximately $150 billion is required specifically for clean energy.

“Policy can set the direction and create the conditions for progress. But, policy cannot exist in a vacuum. In turn— investment, innovation, and partnership must transform policy into reality.” – Energy Secretary Sharon Garin

“The scale of that challenge is significant…Mobilizing capital at this scale will require credible projects, enabling policies, effective risksharing, and investment frameworks that can move capital where it is needed. It is our hope that the discussions here—from the Asean Power Grid and cross-border electricity trade to financing, energy efficiency, sustainable fuels, digitalization, and emerging technologies—propel our shared aspirations forward,” Garin said. The 2026 AEBF centers on an

energy transition that balances public and economic support with enhanced innovation, security, and resilience. This core mission is driven by four key thematic tracks: Energy Inclusivity, Energy Transition for Economic Growth, Energy Innovation and Digitalization, and Energy Security and Resilience. “Together, these four pillars reflect the central challenge before Asean: advancing an energy transition that supports our people and economies while strengthening innovation, energy security, and resilience,” Garin said. The energy chief also said that Asean countries would need different approaches to the energy transition because of differences in their economies and power systems. Further, Asean’s energy transition must also reflect the diverse circumstances of Asean countries. “We have diverse resources, different energy systems, and varied socio-economic circumstances. Inherently, there will be no single pathway for every country. Yet we share a common interest in an Asean that is more connected, resilient, energy secure, and increasingly able to meet its growing energy needs through cleaner and more sustainable sources,” Garin said.

WB keeps growth forecast but warns of energy cost drag By Justine Xyrah Garcia

UNITED IN LIGHT Representatives from the United Nations System in the Philippines, government, partner organizations, the disability community, development partners, civil society organizations, and SM Supermalls take part in the ceremonial illumination of the SM Mall of Asia Globe in Pasay City on Monday, October 5, 2026, to kick off the 2026 United Nations Month commemoration in the Philippines under the theme “UNlimited Together.” This year’s celebration also marks the 20th anniversary of the UN Convention on the Rights of Persons with Disabilities, which the Philippines was the first Asean country to ratify. ROY DOMINGO

Big truckers’ group shuns port holiday By Lorenz S. Marasigan

HE Alliance of Concerned Truck Owners and Organizations (ACTOO), which represents about 60 percent of portbased truckers, did not join the weeklong “port holiday” in Manila, weakening a protest that consumer groups warned could disrupt the flow of essential goods and push up prices. ACTOO said it would instead pursue dialogue with government agencies and other affected sectors, as industry groups remained divided over the planned “Rest Day on the Ports” involving some customs brokers and truckers. The protest, led by the Confederation of Truckers Associations of the Philippines, aims to call attention to port congestion, high fees, mounting financial losses, and other opera-

tional difficulties in the logistics sector. ACTOO VP and Acting Chairperson Rina Papa said the group preferred to “do the hard work—working with other affected sectors, engaging government agencies, and pushing for concrete and workable solutions” rather than stage a strike against government authorities. “We want clear, concrete, and grounded solutions to the problems faced by truckers and the entire logistics sector. We see no value in grandstanding or simply making noise without clear demands, direction, and a strategy for achieving results,” Papa said. She stressed that ACTOO’s decision should not be read as a sign of weakness, saying the organization retained the capacity and track record to mobilize when necessary. Consumer groups CitizenWatch and Kon-

syumer At Mamamayan (KM) also opposed the stoppage in separate statements. While recognizing the concerns raised by truckers and other industry players, both said halting the movement of goods was not the way to fix problems at the ports. CitizenWatch co-convenor Christopher “Kit” Belmonte said long queues, congestion at ports and container depots, and difficulties in returning empty containers were legitimate concerns that required immediate action from government and industry. “A ‘port holiday’ could create another burden for ordinary Filipinos who are already having a hard time. It will only disrupt the movement of food, medicine, fuel, and other essential goods,” Belmonte said. He called on government agencies, shipping lines, port operators, container depots, and

truckers to coordinate on concrete solutions backed by clear timelines and accountability. “What is needed is action—not a stoppage of the flow of goods,” he said. KM convenor Louie Montemar echoed the call, warning that unresolved logistics problems could add pressure on the prices of basic commodities. “Kailangang magpatuloy ang operasyon habang agarang nag-uusap ang pamahalaan, shipping lines, port operators, container depots, at mga trucker. Dapat itong magbunga ng konkretong reporma, malinaw na pananagutan, at tiyak na mga deadline. [Operations should continue while urgent talks are ongoing among government, shipping lines, port operators, container depots, and truckers. This should lead to concrete reforms, clear accountability, and firm deadlines],” he said.

HE Philippines is set to buck East Asia and the Pacific’s growth momentum this year as it faces a heavier drag from high energy costs while benefiting less from the region’s artificial intelligence (AI)-driven growth, according to the World Bank. The multilateral lender on Tuesday kept its 2026 growth forecast for the Philippines at 3.7 percent, while cutting its 2027 projection by 0.4 percentage points to 5.2 percent. The country’s 2026 outlook trails the 4.5-percent growth projected for East Asia and the Pacific, although it remains above the 2.1 percent average forecast for Pacific Island economies. Franziska Lieselotte Ohnsorge, World Bank chief economist for Asia, said the Philippines is an “outlier” in East Asia and the Pacific as it has been more affected by high energy prices than other economies in the region. The region’s growth outlook is being shaped by two opposing forces: the global boom in AI, which is supporting exports and high-tech investment in economies integrated into AI-related value chains, and elevated energy costs, which are weighing on growth across the region. For the Philippines, however, the balance is less favorable. Ohnsorge said the country is less integrated into the global value chain, limiting the boost it can get from the technology boom even as it remains more exposed to higher energy costs. “So it’s not benefiting from these global tailwinds, but it’s really being hurt by the global headwinds, and that has sort of setback growth more,” Ohnsorge said during a media briefing. The Philippine economy has yet to recover from its four consecutive quarters of slowdown that started last year. Most recently, growth settled at 2.3 percent in the second quarter, the slowest quarterly expansion since the Covid-19 pandemic.

The World Bank noted that as a net oil importer, the country was among the economies most exposed to the energy supply shock caused by the Middle East conflict. Unlike many other countries, the bank said it did not respond with energy subsidies. The impact was further amplified by currency depreciation and limited local buffer stocks, allowing the shock to pass through to consumers. The resulting price pressures are expected to push Philippine inflation to 5.8 percent this year, weakening household purchasing power and raising production costs. At the same time, weak public investment and confidence are expected to weigh on investment growth, the World Bank said. With the economy facing pressure from both external shocks and weaker domestic drivers, the country has fewer sources of growth to offset the drag. The World Bank noted that semiconductor-related skills demand in the Philippines remains small despite recent growth linked to electronics manufacturing assembly and testing. By contrast, semiconductor-related skills are more concentrated in advanced economies such as Singapore and South Korea, reflecting the industry’s capital- and knowledge-intensive nature, the bank said. Earlier, the Department of Economy, Planning, and Development (DepDev) acknowledged that the Philippines has fallen behind in the semiconductor supply chain, with much of its activity still concentrated in older-generation chips and technologies, limiting its ability to capture growing demand for AI and advanced electronics. (See: https://businessmirror.com.ph/2026/08/10/paxsilica-game-changer-for-electronics-depdev-chief/). The government is now looking to the US-led Pax Silica initiative to help close that gap, with DepDev calling the partnership a potential “game changer” for the country’s electronics sector.

A10 Wednesday, October 7, 2026 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Climateflation is here: Why importing food isn’t enough anymore

HE ongoing war in the Middle East may have been the major driver of inflation in many parts of the world, but a study pointed to another culprit that will exert considerable pressure on consumer prices in the years to come. A Bloomberg report published on September 30 warned that projected warming is expected to add up to 3.23 percentage points annually to food inflation and 1.18 percentage points to headline inflation by 2035. The report quoted analysts from international research firm Zero Carbon Analytics, which mapped food price spikes between 2022 and 2026.

The findings of the analysts, according to the Bloomberg report, are part of the growing body of research into how climate change is reshaping inflation, a phenomenon some economists dub “climateflation.” Joanne Bentley-McKune, a climate scientist and lead author of the Zero Carbon Analytics briefing, said “climateflation” represents a permanent rise in everyday living costs driven by fossil fuel dependency and extreme weather destruction. These two factors, she said, will increase the budgets of households worldwide and lock in persistent inflation. The Philippines’s September inflation print is signaling the difficulties faced by consumers are caused not only by fuel price spikes, but also by supply disruptions created by strong typhoons. And even before producers and consumers could heave a sigh of relief because the state weather bureau had already declared the end of the habagat or monsoon season, El Niño is already threatening to wreak havoc on the country’s food production. In late September, the DA reported that El Niño ravaged crops across various plantations worth P6.87 billion and affected 223,214 farmers. (See, “Farmers incur more than P6B in losses due to El Niño,” in the BusinessMirror, September 28, 2026). While the Philippines has yet to feel the wrath of a strong El Niño, the state must see to it that it is ready to protect both planters and consumers from predatory traders who will buy agricultural goods at low prices then sell them at a huge profit. These traders are undaunted by the existence of laws, such as the Price Act, which imposes fine and imprisonment on violators. It may be time for lawmakers to update the policy on price stability given the threat of climate change and the continuing dependence of the country on imports. As the planet’s temperature continues to rise, the long-term goal of the state should be to build the necessary facilities where planters can store food. Throwing away produce due to the lack of buyers only proves that the Philippines still lacks cold storage facilities that are accessible to planters. Without this, farmers would only be forced to throw away crops since they will rot anyway, which is akin to throwing away money. Inflation in the Philippines was driven by high food prices in recent years. This took place despite the fact that the country continued to import food from other countries to beef up domestic supply. Based on the latest inflation print, importing food is no longer enough to beat inflation in the face of climate change, and that policymakers must now look within the Philippines’s borders for solutions. Since 2005

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Railway economics Mark Villar

THE BUILDER

RITICAL railways such as the North-South Commuter Railway (NSCR) open many opportunities. The economic benefits they bring are not confined to a particular region—they are national in scope. The 147-kilometer NSCR, for one, will generate economic opportunities beyond Luzon by strengthening the country’s manufacturing and logistics networks. It is expected to improve the movement of people and goods and support businesses linked to major economic and industrial centers. Businesses, workers and producers from Luzon to the Visayas and Mindanao, per Executive Secretary Ralph Recto, stand to benefit from a stronger manufacturing sector, better logistics and greater access to markets. The economic benefits that railways bring can be likened to the 47,000-mile US Interstate Highway System that opened in the ’50s. The Dwight D. Eisenhower National System of Interstate and Defense Highways, commonly known as the Eisenhower Interstate System, is a network of controlled-access highways that forms part of the national highway system in the United States. The system extends throughout

the contiguous United States and has routes in Hawaii, Alaska and Puerto Rico. The transportation investments of the US connected communities, expanded opportunity, strengthened national defense, improved safety and fueled growth. They transformed the United States into the world’s most dynamic economy. In NSCR’s case, it would support industrial zones along the Luzon Economic Corridor by improving passenger mobility and connectivity among major economic hubs. Mr. Recto sees the NSCR as an additional leg in our stool for the economy. A stronger industrial and logistics network in Luzon could create opportunities for producers and businesses in the Visayas and Mindanao that supply raw materials, agricultural products and other inputs to processing and manufacturing centers. Mindanao’s mineral resources could support the country’s push toward higher-value manufacturing. An infrastructure in one part of

An infrastructure in one part of the country, like the NSCR, can create opportunities in another. It will connect resources, industries, workers and markets so that growth is not confined to one region but shared across the Philippines. the country, like the NSCR, can create opportunities in another. It will connect resources, industries, workers and markets so that growth is not confined t o one region but shared across the Philippines. The Malolos-Valenzuela segment of the NSCR is expected to be operationally ready by 2028, followed by the Malolos-Clark section in 2029. The railways system could provide the link to helping and developing Mindanao and pave the way for government assistance following the magnitude 7.8 earthquake that struck parts of the island on June 8. As I’ve said in this column before, recovering from a disaster of this magnitude is not easy. We are dealing here with lost lives, injured persons, destroyed properties and disrupted livelihoods that may take a while to resume. Our young generation is also suffering from this natural disaster. Thousands of schools and learning centers in Mindanao either collapsed or were rendered inoperable by the strong earthquake. The earthquake, one of the strongest to hit Mindanao in recent years, caused widespread destruction across several provinces, damag-

Germany, France push new trade weapon before EU-China talks By Arne Delfs & Jorge Valero

ERMANY and France are urging the European Union to adopt new powers that could sever China or other countries from its single market, as the bloc’s two biggest economies adopt a more confrontational stance ahead of talks in Beijing.

The suggestion came in a letter, seen by Bloomberg News, sent Monday to European Commission President Ursula von der Leyen, the top EU executive. “We need a credible instrument in the hands of the Commission to allow for decisive and systemic reaction,” the letter reads, suggesting “powerful measures up to an immediate cut-off from the internal market if needed.” It also calls for an instrument that would force Europe to reduce various supply chain dependencies on foreign countries. While the letter doesn’t specifically mention China, the EU is currently

exploring ways to rebalance its trade relationship with the world’s second largest economy. Having Germany and France aligned behind these proposals will give them significant heft going into an EU summit next week, where leaders will discuss the issue. The proposals came to light just before EU Trade Commissioner Maros Sefcovic arrives in Beijing this week for two days of talks with Chinese officials to get a sense of where things stand ahead of the upcoming European Council meeting. China is on a week-long holiday and its Ministry of Foreign Affairs didn’t immediately respond to a request for comment outside busi-

Tensions have flared ahead of the talks, with risks on the rise that the standoff could escalate into a full-blown trade war. Beijing on Saturday began an anti-dumping investigation into European exports of a chemical used for pesticides, pharmaceuticals and dyes, citing the EU’s recent probes into Chinese chemical products.

ness hours. “Cheap Chinese imports are becoming a bigger headache for the EU. They may be helping contain consumer price increases, but Brussels fears they could also damage key European industries,” said Bloomberg economist Antonio Barroso. Beijing has repeatedly threatened to retaliate if the EU introduces new trade tools or discriminatory restrictions targeting Chinese companies

ing homes, government buildings, schools, hospitals, roads and commercial establishments. The earthquake has left a lasting damage on infrastructure that will require more time to rehabilitate. The earthquake, like strong typhoons, ruins or weakens infrastructure facilities like roads, bridges, schools, hospitals and other concrete buildings. Improving the transportation experience in other parts of the country is equally important. The Davao Public Transport Modernization Project (DPTMP) is an example of a road infrastructure that creates a more inclusive economy. The government is implementing an accelerated construction schedule to ensure the “DavaoBus” system remains on track for its 2027 launch. Completing the DPTMP or “DavaoBus” as soon as possible is strategic because it would serve as the model for other provinces. Once the entire 672-kilometer DPTMP is operational, the project is expected to serve 800,000 commuters daily. The DPTMP is also expected to operate with 386 electric buses, 531 regular buses and 188 mini-buses. Upgraded railways, improved footbridges and pioneering roads in the countryside are parts and parcels of a modern economy. They provide comfort to our weary Filipino commuters and make the economy more responsive and resilient. For feedback e-mail to senatormarkvillar@ gmail.com or visit our web site: https://markvillar. com.ph

or products. The Chinese Ministry of Commerce warned last week that fresh tariffs on the country’s goods could undermine trade negotiations with the bloc, vowing to “respond resolutely” to protect the interests of Chinese industries. Tensions have flared ahead of the talks, with risks on the rise that the standoff could escalate into a fullblown trade war. Beijing on Saturday began an anti-dumping investigation into European exports of a chemical used for pesticides, pharmaceuticals and dyes, citing the EU’s recent probes into Chinese chemical products. German Chancellor Friedrich Merz said the proposal was devised in Berlin and Paris as the bloc is being “massively affected” by unfair trade practices—and the commission needs better tools. “We want to enable the European Commission to act quickly when See “Germany,” A11

www.news.businessmirror@gmail.com

Singapore refers eight to police after home buying review

Opinion BusinessMirror

Is this the impeachment trial we deserve? Questions for a democracy losing its voice

By Srinidhi Ragavendran

INGAPORE has referred cases involving eight public officers to the police after reviewing property purchases by officials who worked at agencies involved in rail planning, Coordinating Minister for Public Services Chan Chun Sing told parliament on Tuesday. The Public Service Division reviewed transactions between 2007 and 2014 involving 191 officers who worked in agencies involved in rail planning and bought properties near locations that were subsequently announced as subway stations, Chan said. Further checks are ongoing. The review was launched after a US-based National Bureau of Economic Research working paper published in September alleged that Singapore civil servants used advance knowledge of future subway stations to make real estate purchases that generated “meaningful private gains.” The allegations have drawn scrutiny in a city-state that has long cultivated a reputation for a clean and corruption-free public service. The eight officers were identified for further examination, either because of the specific circumstances surrounding their purchases or because there was insufficient information to exclude their cases from further review, Chan said. “Let me emphasize that a referral does not mean that wrongdoing has been established,” Chan said. “The police will look into the facts independently, and due process will be followed.” Since the 1990s, all civil servants in Singapore have been required to declare purchases of private property and to annually disclose any non-owner-occupied properties they hold, Chan said. Depending on the circumstances, unauthorized use or disclosure of official information may also constitute an offense under the law, he added. In its review, the government examined available records including on the officer’s role at the time, whether they had access to relevant non-public information, the timing and circumstances of the transaction, and other relevant information available to the government. While the NBER working paper identified the period of concern as between 2007 to 2011, the PSD extended the review to 2014 “as a mat-

The review was launched after a US-based National Bureau of Economic Research working paper published in September alleged that Singapore civil servants used advance knowledge of future subway stations to make real estate purchases that generated “meaningful private gains.” The allegations have drawn scrutiny in a city-state that has long cultivated a reputation for a clean and corruption-free public service.

Germany. . .

Nick Twidale, chief market analyst at AT Global Markets in Sydney. “If China were to retaliate with a rare earth export ban, this may hurt Europe more.” EU leaders directed the commission in June to reengage with Beijing over the bloc’s trade deficit with China, which reached €360.6 billion ($404 billion) last year and continued to widen in the first half of 2026. In response, Sefcovic launched a new series of talks with Beijing, starting with Chinese Commerce Minister Wang Wentao’s visit to Brussels in June. At that meeting, the two sides set an October deadline to make progress on trade disagreements, from growing imbalances and Chinese export controls to intellectual property rights. In parallel, EU policymakers in Brussels are also exploring possible new trade measures to let the EU react more swiftly and with greater force to countries undermining trade relationships. They are also looking at measures to encourage supply chain diversification. “Some elements of the rhetoric and posture from the EU side are probably attempts to strengthening bargaining positions,” said Homin Lee, a strategist at Lombard Odier in Singapore. “The actual trajectory of the bilateral trade relations need to be closely monitored for better calibration of what’s actually going to happen.” With assistance from Alberto

continued from A10

necessary,” Merz told reporters in Berlin. “The drawback of European trade policy in recent years has always been that decision-making took too long.” German officials, speaking anonymously in line with government protocol, said the market-access tool should be seen as a second strike weapon in an all-out trade war with a country like China. It could be deployed, for instance, if China blocked all exports of rare earth materials, which the EU relies on to build modern technologies. “The European Union is faced with unprecedented challenges,” the Franco-German letter says, arguing that countries are weaponizing trade and distorting markets. “We need urgent action to address these threats, to diversify and to derisk.” In addition to the new tools, Germany and France are urging the EU to act more aggressively by investigating whether entire sectors, such as chemicals, plastics and hybrid cars, are facing unfair competition from heavily subsidized imports. Such probes could result in new tariffs. Currently, similar EU investigations tend to focus on specific products, not entire sectors. “The EU has been slow to react in trade issues—and China is clearly a major consideration—but I think Europe is more vulnerable than China at the moment,” said

ter of prudence,” because many new railway stations locations continued to be announced in the years after 2011, said Chan. “Our approach is to assess the substantive claims in the paper on their merits by examining the methodology, the available evidence and, most importantly, the underlying facts,” said Chan. “This is why we have examined the actual officers’ transactions and available records. Where the facts disclose grounds for concern, we will refer them to the appropriate authorities.” The NBER study’s authors wrote that the property purchases were mostly made by mid-level officials and agencies connected to rail planning one to two years before public announcements. The transactions were also carried out by the officials’ relatives, making them “consistent with information leakage,” according to the research paper. “Singapore, widely regarded as one of the world’s least corrupt countries, provides a sharp setting to examine whether decades of successful anti-corruption enforcement can produce self-sustaining norms,” the researchers wrote. “The findings suggest that even in high-integrity societies, social norms may not be sufficiently self-sustaining to maintain a low-corruption equilibrium without continued formal enforcement.” Bloomberg

Nardelli, Alan Wong, Winnie Hsu and Nectar Gan /Bloomberg

Wednesday, October 7, 2026 A11

Dr. Jesus Lim Arranza

MAKE SENSE

HAT does it mean for a democracy when those who seek to testify in an impeachment trial are made to feel unwelcome before they even step forward?

Can we truly call it justice when a former senator, armed with what he claims is evidence of unexplained wealth, finds himself the only name on a witness list denied the formal courtesy of a subpoena? Is this how accountability is supposed to work in our halls of power, or has the machinery of truth-telling become so rusted that it squeaks and stalls at the very moment it matters most? When Antonio Trillanes IV stepped forward to speak about Vice President Sara Duterte’s alleged financial irregularities, did he expect to be met with open doors or with the quiet, bureaucratic resistance that eventually pushed him off the prosecution’s roster entirely? At what point does the management of an impeachment trial cross the line from procedural diligence into something that looks uncomfortably like strategic obstruction? And who gets to decide where that

line sits—the presiding officer of the impeachment court alone, or the collective conscience of the chamber? Is it merely a coincidence that the witness most vocal about executive corruption found himself the only one excluded from the impeachment court’s formal summons, or does this pattern reveal something more troubling about how power protects its own? Were reports accurate in stating that Trillanes’ documents were not directly authenticated by official sources like the AMLC? What happens to public trust when the Senate President himself must step forward to clarify that decisions were not made unilaterally, as if the very appearance of concentrated power has become toxic enough to require immediate antidote? If Senate President Sherwin Gatchalian’s defense—that multiple voices contributed to the exclusion—is meant to reassure us, does

If the allegations lack factual basis, why object to Vice President Sara Duterte voluntarily taking the stand to clear her name directly before the public, similar to precedents set in past highlevel impeachment trials?

it instead raise the opposite question: why would so many hands cooperate in silencing a single witness? Is collective restriction any more palatable than solitary decree? Can senator-judges put aside their political alliances and personal history with the Duterte family to practice “cold neutrality” as demanded by the Senate presiding officer? What does it say about our patience for accountability when student groups and former lawmakers alike begin describing impeachment proceedings as “boring”—not because the stakes are low, but because the pacing has been deliberately, perhaps strategically, slowed to a crawl? Is there not something almost ingenious about transforming a constitutional crisis into a technical marathon, where the public’s attention span becomes the first casualty? How do we interpret the pattern of sustained objections favoring the defense team, particularly when those objections buy time for a side that has already had weeks to review the same documents? Is this the neutral application of legal standards, or

does it begin to resemble something closer to hospitality toward one narrative and hostility toward another? Can a society discuss the merits of a trial against its second-highest official without somehow contaminating the proceedings, or have we constructed a paradox where the most important cases must be discussed the least? When Escudero cracks down on public commentary, is he preserving the dignity of the court, or shielding it from the scrutiny that dignity requires? Where does this leave the Filipino citizen who watches from outside the Senate walls, trying to discern whether the technicalities serve truth or merely serve to bury it under layers of procedural sediment? How will the impeachment court penalize senator-judges or lawyers who make early announcements or media statements that violate sub judice rules and bias the public before the final verdict? Is this the impeachment trial we deserve, or merely the one we have settled for? If the allegations lack factual basis, why object to Vice President Sara Duterte voluntarily taking the stand to clear her name directly before the public, similar to precedents set in past high-level impeachment trials?

Dr. Jesus Lim Arranza is the Chairman Emeritus of the Federation of Philippine Industries and concurrent Chairman of the Anti-Smuggling and AntiIllicit Trade Committee.

Italy’s Meloni follows pop stars in seeking to trademark her voice to combat AI deepfakes By Giada Zampano | The Associated Press

OME—Italian Premier Giorgia Meloni has applied to trademark her voice with the European Union’s Intellectual Property Office, seeking to protect herself against AI-generated deepfakes.

The application filed with the EU agency includes a four-second audio recording of Meloni repeating the phrase, in Italian, “Io sono Giorgia Meloni” (“I am Giorgia Meloni”), according to the EU office’s records on Monday. The filing, first reported by Italian daily La Repubblica, was confirmed by an Italian official who spoke on condition of anonymity because they were not authorized to speak publicly. Meloni’s move comes as governments, regulators and public figures grapple with the rapid spread of artificial intelligence tools capable of

convincingly replicating voices and images. The recorded phrase echoes Meloni’s famous declaration at a 2019 political rally: “I am Giorgia, I am a woman, I am a mother, I am Italian, I am Christian.” The slogan became widely known in Italy and inspired a viral dance remix. “Io sono Giorgia” was also the title of her 2021 autobiography. Manipulated images of Meloni have repeatedly circulated online in recent years and have at times been passed off as authentic. Among them was a fake image showing her sitting on a bed in her underwear.

Meloni has warned that deepfakes can “deceive, manipulate and harm anyone,” urging users to verify online content before sharing it. “I can defend myself, but many others cannot,” she said in May, after fake images of her surfaced online. Pop star Taylor Swift was among the most prominent targets of deepfakes in 2024, after sexually explicit AI-generated images falsely depicting her spread widely online, fueling calls for stronger legal protections against unauthorized digital replicas. Matthew McConaughey was one of the first major celebrities to use trademark registrations to secure rights to voice clips and motion elements. Fellow actor Scarlett Johansson also raised concerns about AI-generated voices after objecting to an OpenAI chatbot voice that she said sounded “eerily similar” to her own. She had declined to participate in the

Rare shark, orca sightings off Mozambique raise El Niño question By Antony Sguazzin & Laura Millan

ROWING numbers of orcas and whale sharks have started appearing off the coast of Mozambique, in an unusual development that’s coincided with the formation of the El Niño weather cycle.

Scientists at the Bazaruto Center for Scientific Studies, Africa’s only ocean observatory, say such sightings—once exceedingly rare—have become a common occurrence in recent months. Changes in currents and water temperatures in the Mozambique channel that stretches between Madagascar and the African mainland may be affecting plankton levels and other marine food sources, according to Mario Lebrato, chief scientist at the observatory. “We had seen zero so far and all of a sudden I’m seeing them weekly, starting at the end of last year,” Lebrato said in an interview. “Is it El Niño-connected? I don’t know,” he said. “But if you have this time series and you haven’t seen it before, you can start thinking that

there might be a connection.” The cyclical climate phenomenon that begins when the atmosphere reacts to warming across the equatorial Pacific Ocean is this year expected to be the most severe since records began in 1950, according to the US Climate Prediction Center. Warming ocean waters cause droughts in some parts of the world and floods in others. They also alter the behavior and migration patterns of animals around the world. The observatory was established in 2017 by Nina Flohr, a Swiss businesswoman and daughter of the founder of VistaJet Group Holding SA, which operates a fleet of private jets for wealthy clients. Flohr, who married Prince Philippos of Greece and Denmark, remains its owner. Funding for the observatory comes

The cyclical climate phenomenon that begins when the atmosphere reacts to warming across the equatorial Pacific Ocean is this year expected to be the most severe since records began in 1950, according to the US Climate Prediction Center. Warming ocean waters cause droughts in some parts of the world and floods in others. They also alter the behavior and migration patterns of animals around the world. from income from the Kisawa Sanctuary, the resort owned by Flohr and her husband, at the same location. “Temperatures are changing, the water mass changes, animals move,” said Lebrato, who’s observatory is located on Benguerra Island in the Bazaruto archipelago. “They don’t know if it’s Bazaruto or South Africa or Tanzania. They just move around wherever conditions are relevant for them.” The observatory monitors ocean

project. OpenAI denied intentionally imitating Johansson’s voice and later withdrew the feature. And in Japan last week, a court awarded legal protection to the human voice for the first time. The case involved a popular Japanese anime voice actor who demanded that TikTok close an account over its unauthorized use of an AI clone of his trademark baritone. Italian media reported that even if Meloni’s application is approved, the trademark will not automatically prevent AI-generated imitations of her voice. It could, however, provide an additional legal tool against unauthorized use. The filing follows a separate legal battle launched by Meloni in 2024 against a man accused of creating and posting deepfake pornographic images using her likeness. The case remains pending before an Italian court.

data that was previously not available for the region, including sea surface temperatures, absolute humidity, precipitation and salinity. It also gathers data on waves, swells, tides and current speeds. The data is open to researchers and can help scientists calibrate their models to make more accurate projections for a part of the world where this data has historically been lacking. The observatory works in collaboration with governments and research institutions, Lebrato said. Together with private businesses including engineering firms, oil and gas companies as well as consultancies, they’ve used their data to calibrate their own models and to conduct environmental assessments. In addition to the orcas and whale sharks, Lebrato said in the more than 7,000 square kilometers (2,703 square miles) of ocean that the observatory monitors, a range of other species normally not associated with the area have been spotted, including leatherback turtles and other kinds of sharks. Bloomberg

Sports BusinessMirror

A12 | Wednesday, October 7, 2026 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

NATURALIZED ATHLETES: ARE THEY A SOLUTION? B T

IT’S one night to celebrate and remember for the last batch of Filipino athletes and officials who flew home with a historic accomplishment from the Aichi-Nagoya 20th Asian Games. ROY DOMINGO

Back to work in Govs’ Cup

HE Philippine Basketball Association (PBA) Governors’ Cup returns to action Wednesday after a twomonth lull that gave way to the FIBA World Cup 2027 Asia Qualifiers and the Aichi-Nagoya 20th Asian Games. NLEX parades new import Deonte Burton, who replaced the injured DeQuan Jones, against the Macau Giant Pandas at 5:15 p.m. and reigning champion TNT Tropang 5G takes on Terrafirma at 7:30 p.m. at the Ninoy Aquino Stadium. The Road Warriors are 7-2 won-lost and a victory over the Giant Pandas, who are near the bottom of Group A at 2-6, will send them to the quarterfinals. Macau also changed its import with De’Vondre Perry exiting for Cambodia naturalized player Oscar Lopez. The Pandas will also play without original players Damian Chongqui, Ramon Cao and Jenning Leung who decided to play elsewhere. TNT also tapped Nick Hornsby as reinforcement over Rahlir Hollis-Jefferson. The Tropang 5G, who are still waiting for original import Rondae HollisJefferson, are hoping to improve on their 4-4 record when they face the Dyip, who are 3-5 record also in Group A. Only the top four teams of each group will advance to the playoffs. Josef Ramos

By Jun Lomibao

AHRAIN had four in basketball and one in athletics, China had a Cuban in its boxing team and many more countries paraded one or two or more and even the Philippines’ Gilas Pilipinas recruited one. Naturalized players, are they the solution for a nation to rake in those gold medals, in this case in the AichiNagoya 20th Asian Games? “Why not?” Philippine Olympic Committee president Abraham Tolentino told media during the jampacked “Heroes’ Welcome” for Team Philippines on Monday night at the Century Chinese Seafood Restaurant. “Bahrain had 11 golds and all of them were from its naturalized athletes,” Tolentino said. “There were Kenyans, Ethiopians, Russians, even China had a Cuban boxer.” Tolentino added: “Why is it being done in basketball, in football? It’s not to say that we remove them from the games, homegrowns and naturalized athletes can exist simultaneously.” In a report of India’s Hindustan Times, naturalized athletes have become a practice in the Asian Games, with Bahrain and Qatar as the top-notchers in naturalizing Africans for their athletics teams. Naturalization policies differ among nations—in the Philippines, the House, Senate and Malacañang are meticulous about it—and the Olympic Council of Asia is aware of the practice and set residency policies to prevent abuse. Gilas Pilipinas had some half a dozen naturalized players so it’s actually nothing new in the Philippine sports landscape.

Gregorio wanted to go deeper into the matter. “First, a solid grassroots foundation to find, identify and cultivate the best local talent and second, invite Filipino youth living abroad to cast the net wider for Filipino talent,” he said. And equally important, he added, is coaching technology. “Olympic caliber or dna coaching to bring out the best in every player and strategize on the highest level of play,” he said.

Everybody happy on Monday at the Century

GOLD medalists Carlos Yulo, EJ Obiena and Jeus Gabriel Derick Yape were in attendance, and so were the silver medalists at the Asian Games. The atmosphere was full of joy and satisfaction and although all 446 Filipino athletes who competed way before the September 10 opening ceremony up until the final day of action last Sunday in Nagoya, all was positive during the “Heroes’ Welcome” at the Century Chinese Seafood Restaurant in Manila. “This is a celebration,” said POC president Abraham Tolentino, adding the four gold, nine silver and 16 bronze medals were an accomplishment, the best-ever for Team Philippines in the Asian Games. PSC chairman Patrick Gregorio praised the Filipino athletes who battled the odds in the games that are surpass the Olympics in terms of participation and are next to the Summer Games where world and Olympic records are toppled. With Josef Ramos

AFTER a tour of duty at the Asian Games in Nagoya, members of Alas Pilipinas Women go back to action for their respective clubs. POC MEDIA POOL

Gregorio: For specific positions only

PSC chairman Patrick Gregorio finds naturalized athletes as having become a staple among countries in the Asian Games— European countries have been doing that in badminton where they recruit Chinese, Malaysian and Indonesians. But Gregorio stressed that naturalized athletes for Philippine teams must only be for specific positions. “A naturalized player for a specific position—pitcher, blocker, spiker, striker, center—to even out the playing field,” said Gregorio as he expressed concern that homegrowns should not be demoralized by the threat of naturalized players replacing them on the national team.

PVL 10th season unfurls in Cebu

THE golden boys: Carlos Yulo (right), EJ Obiena (center) and Jeus Gabriel Derick Yape. ROY DOMINGO

Yulo’s next mission: Rotterdam! QUEZON City Second District Representative Joseph Juico (right) with fencing coach Nadinn Licono in Tuesday’s forum. PSA PHOTO

QCSep fencing turns 20 yrs old

WENTY years after launching a fencing program in Quezon City, Joseph Juico said getting an athletic scholarship is still the ultimate objective of the QCSep Fencing Team for young fencers to get free education and eventually finish college for a better future. Juico’s fencing program already produced a number of national team fencers the last two decades, including Paris 2024 Olympian Samantha Catantan. Considered as the face of Philippine fencing, Catantan is the standard when it comes to accomplishments, even off the piste—she recently earned a Master’s degree in Accounting at Penn State University where she played for from 2020 to 2026 in the US NCAA. QCSep fencing has also produced former and current national team members, including Catantan’s sisters Janna and Sophia, Nicanor siblings Michael and Jylyn, Felipe nephews Tipoy, Kulay and Khian, Perez brothers Nat and RJ, as well as Concepcion brothers CJ and Anthony.

ARIS Olympics and, now, Asian Games double gold medalists Carlos Yulo and his team flew to France on Tuesday to set up training camp for the Rotterdam World Artistic Men’s Championships. The Rotterdam worlds set from October 17 to 25 is a direct qualifier for the Los Angeles 2028 Olympics, making the event an important stint for Yulo and his younger brother, Karl Eldrew. Yulo’s also an athlete to beat at the world championships with four gold, two silvers and four bronze medals to his name since his Tokyo

2020-qualifying floor exercise victory in Stuttgart. “It’s good to be back for a seventh time in the world championships,” Yulo told the BusinessMirror during the jampacked Team Philippines welcome dinner at the Century Chinese Restaurant in Manila graced by the medalists and athletes in the Aichi-Nagoya 20th Asian Games that concluded last Sunday. “I am returning to the worlds with a healthy mind and body,” said Yulo, the most celebrated among the 446-athlete Team Philippines with his gold medals in floor exercise and vault.

Yulo actually flew in just for the important occasion graced by Philippine Olympic Committee president Abraham Tolentino and Philippine Sports Commission chairman Patrick Gregorio—from Nagoya, he flew to the US for a quick R&R, returned to Manila for the welcome dinner and on Tuesday evening, caught a plane for his team’s training camp in Antin, France. Joining the Yulos in the evening flight to France were head trainer Aldrin Castañeda, physiotherapist Bethel Solano and personal assistant Josh Garcia. Josef Ramos

Asiad fever out, basketball republic in WE finished 17th out of 40 nations in the just-ended AichiNagoya Asian Games in Japan. What do you think? Fine by me. We beat 23 countries with our haul of 4-9-16 (gold-silver-bronze) medals for a total of 29. Not that bad, prompting Chair Pato Gregorio of the Philippine Sports Commission to proudly pronounce: “This is our best medal performance in decades.” It was actually our largest haul in 60 years, the best being our 42 medals in the 1966 Bangkok Asiad. Never mind that our Southeast Asian neighbor Thailand had massively outperformed us. The Thais amassed a huge haul of 18 golds to firmly grip a seventh-place finish, which is just one gold shy of sixth-placed Iran’s 19 golds. But Thailand was six golds clear of the eighthrunning Kazakhstan’s 12 golds—a mere one gold ahead of Hong Kong and Bahrain.

Hong Kong was the Asiad’s surprise package by barging into the Top 10, finishing ninth with 11 golds. Bahrain also had 11 golds but was relegated to 10th as Hong Kong edged ahead with its collection of more silvers. But the biggest revelation was India, which hopped to fourth overall with 21 golds. Uzbekistan also had 21 golds but settled for fifth with lesser silvers. China won by a sea-wide margin with its 169 golds, which

HE Premier Volleyball League (PVL) turns 10 with bigger stars, a bold new championship format and a season-opening showcase in Cebu that promises to set the tone for its landmark staging. Adding even more sparkle to the milestone season is the return of Alas Pilipinas’ biggest names, who are set to rejoin their respective club teams after months of national-team duty and bring with them valuable international experience. The celebration begins this Saturday at the SM Seaside Cebu Arena where the PVL launches a first-of-its-kind three-leg All-Filipino Conference featuring the Siklab, Sigla and Sinag series—a season-long race that puts a premium not only on winning, but also on consistency, depth and endurance. And with the country’s top players now back in the fold, the opening leg promises to have no shortage of star power. Leading the much-anticipated return are Bella Belen of Capital1, Sisi Rondina and Eya Laure of Choco Mucho, Jia De Guzman and Bernadeth Pons of Creamline, and Akari’s Justine Jazareno and Mars Alba—all of them

was 86 more golds than the second-placed collection of 83 by Japan. South Korea was a distant third with 39 golds. So massive was the disparity in medal harvest that Syria, which finished last among 40 nations, had only one bronze medal to show. Syria was tied actually at 37th to 40th with Bangladesh, Brunei and Lao—each with one bronze apiece on their identical 0-0-1 (gold-silver-bronze) tally. In solo 36th was Nepal with two bronzes. If we value an Olympic medal that much—whether gold, silver or bronze—so are such countries like Nepal, Bangladesh, Brunei and Laos which, I am almost sure, would treat their Asiad bronze like shining gold and the winner of such medal insanely hailed a hero upon his return home. So, in a sense, we could treat Carlos Yulo’s Asiad golds in the floor exercise and vault as commonplace already after he had won both events in the 2024 Paris Olympics. Not much hoopla over it anymore. But that is not to belittle both feats in Nagoya as, surely, Yulo richly deserved the victories as he had trained hard to achieve both. Same with EJ Obiena’s pole vault triumph scored in equally

will see action on opening day. The festivities begin at 1 p.m., with Belen’s Capital1 Solar Spikers taking on Rondina and Laure’s Choco Mucho Flying Titans. At 6 p.m., De Guzman and Pons’ Creamline Cool Smashers face Jazareno, Alba and the Akari Chargers in the second marquee matchup of the day. Also returning to club action are Dell Palomata of PLDT, along with Vanie Gandler and Erika Santos of Capital1. Their return comes after an extended stint with Alas Pilipinas that culminated in the Aichi-Nagoya 20th Asian Games and with the national-team window temporarily taking several of the league’s biggest stars away from their clubs, teams had to navigate the PVL On Tour and Invitational without some of their key pieces. The milestone season now takes another step forward by bringing its opening act to Cebu. The elaborate opening ceremonies at the SM Seaside Cebu Arena form part of Sports Vision’s continuing push to broaden the reach of professional volleyball.

spectacular record fashion of 5.91 meters to eclipse his 5.9 in the 2023 Hangzhou, China Asiad. Worthy of praise anytime. And Jeus Gabriel Derick Yape’s taekwondo virtual victory? Similarly amazing as well as it came when nobody was expecting it. The troika’s golden harvest of four more than made up for the painful debacle absorbed by the celebrated Alex Eala in women’s tennis. Sadly, Eala’s much-ballyhooed gold finish turned into bronze—a result, I must admit, of a coaching misstep when Eala was unleashed to play singles and doubles in insane succession in a day. In her semifinal match the next day, a dog-tired Eala huffed and puffed against a Chinese skyscraper who played like an attack dog in bamboozling our hapless Alex. Oh, well, that’s what happens when we go crazily greedy for gold. THAT’S IT With the ebbing of the Asian Games fever, we go back to reality with the return today (Wednesday) of the Philippine Basketball Association Governors’ Cup. It’s back to business as usual in our dearly beloved basketball republic—not to mention that both the UAAP and NCAA cagefests are also off and running for several days now.

Editor: Jennifer A. Ng

Companies BusinessMirror

PHL AIMS TO BECOME HUB FOR GREEN JET FUEL PRODUCTION By Lenie Lectura @llectura

HE Philippines is pushing for an initial 1 percent sustainable aviation fuel (SAF) blending by 2030 in a bid to drive aviation decarbonization. “The recommendation is to have 1 percent SAF mix or mandate by 2030. So, it allows for a long enough runway before the mandate kicks in. (We will) have three to four years to build up the local supply,” said DOE Undersecretary Alessandro Sales. DOE Secretary Sharon Garin said during the Asean Energy Business Forum (AEBF) Tuesday that the country is crafting a regulatory and policy framework to kickstart domestic SAF production. To establish the country as a regional SAF production hub and incentivize investors, this initia-

tive will be backed by two key measures, Garin noted. These include classifying SAF production as a strategic industry under the country’s 2026 Strategic Investment Priority Plan and enforcing a 1-percent SAF blending mandate by 2030 to secure a reliable domestic market and stimulate further clean energy investments. “The Philippines is putting this ambition into national action… With industry and international partners, we will draw on our agricultural and biomass resources to attract investment, build sustainable supply chains, and advance aviation decarbonization, energy security, and economic growth.” Garin added that the forum will help identify where Asean can compete, collaborate, and what concrete actions can be done together to move SAF to commercial scale.

Wednesday, October 7, 2026

Rising interest rates prompt PLDT to defer data unit IPO

By Lorenz S. Marasigan

@lorenzmarasigan

LDT Inc. has pushed back the initial public offering (IPO) of its data center unit Vitro REIT Inc. to 2027, delaying what would have been the country’s first digital infrastructure real estate investment trust (REIT) listing. “In light of current market conditions and rising interest rates, Vitro REIT has decided to defer the IPO to 2027,” the company said in a disclosure on Tuesday. PLDT said it “remains committed to the proposed VITRO REIT IPO

as an important part of the Group’s asset monetization and deleveraging plans.” Vitro REIT will keep coordinating with the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE)

“with a view to completing the offering in 2027.” The deferment came on the same day the Philippine Statistics Authority (PSA) reported that headline inflation quickened to 7.2 percent in September from 6.1 percent in August, the fastest pace in over three years and well above the 6.7-percent median estimate of analysts. The Bangko Sentral ng Pilipinas (BSP) has also raised its policy rate three times this year, lifting it to 5 percent in August for a cumulative 75 basis points of tightening. Furthermore, local stocks have also slumped with the Philippine Stock Exchange index (PSEi) closing at 5,629.03 last Friday, its fifth straight loss, as high oil prices, elevated Treasury yields, and a weak peso weighed on sentiment, with foreign investors net sellers of P1.25 billion.

Survey: NZ firms upbeat on economy

PGEC obtains loan from RCBC

EW Zealand business confidence bounced in the third quarter, with more firms intending to hire workers and invest in coming months even as demand for their goods and services remains soft, a survey showed. A net 43 percent of firms expect the economy will improve in the next six months, the New Zealand Institute of Economic Research said Tuesday in Wellington, citing its quarterly survey of business opinion. After adjusting for seasonality, the gauge was the highest since 2014, the NZIER said. The upbeat reading suggests firms are looking beyond sluggish demand and rising fuel costs that are currently eroding profits, and are instead more focused on the potential for an economic recovery in 2027. “It’s hard to know how they continue to be that optimistic,” NZIER Deputy Chief Executive Christina Leung told a briefing. “A bit of it is a desensitization to high fuel prices now. Even though the global landscape is changing firms have learned to cope with it.” Respondents were quizzed through September when oil prices began rising as tensions in the Middle East escalated again. The survey also followed a central bank interest-rate increase announced early in the month and comes ahead of a Nov. 7 election that could deliver a change in government. A net 1 percent of firms said their third-quarter trading was weaker, and 27% said earnings declined, suggesting overall economic growth remained sluggish in that period. Despite that uncertainty, a net 15 percent of firms said they expected trading will improve in the fourth quarter with 23 percent expecting to hire more workers and 11% planning to increase investment in plant and machinery. The survey also signals a reduction in price pressures, with fewer firms expecting costs to rise in the fourth quarter and fewer planning to raise prices. “It does suggest that firms are finding it difficult to pass on higher costs by raising prices,” said Leung. “While this is having a negative impact on profitability for firms, it’s encouraging for what it means in terms of broader inflation.” Bloomberg News

Under the original plan, ePLDT Inc. was to sell up to 1,913,043,500 secondary shares, plus an over-allotment option of up to 286,956,500 shares, at up to P11 apiece, for gross proceeds of up to P24.2 billion. The offer would have covered about 48.95 percent of Vitro REIT and part of the proceeds were earmarked for debt repayment. The REIT’s initial portfolio comprises eight data centers with about 24 megawatts of IT ready capacity across Metro Manila, Clark, Cebu, and Davao. The listing was made possible by SEC Memorandum Circular No. 1, Series of 2026, which expanded the REIT framework to cover data centers. UBS AG, Singapore Branch, and BPI Capital Corp. are the joint global coordinators and joint bookrunners.

KEI CAR

Suzuki Motor Corp. unveiled its first fully electric kei car, fueling competition in Japan’s most important vehicle segment. Including federal subsidies, the “e SKY” model will cost around ¥1.6 million ($10,120) when sales start in November, Suzuki said Tuesday. That’s cheaper than Nissan Motor Co.’s top-selling Sakura EV and BYD Co.’s first kei car the Chinese company introduced in July. Kei cars are affordable, ultra-compact vehicles that account for more than a third of automobile sales in Japan. The arrival of the e SKY adds to signs that the country is becoming a key battleground for electric versions of the tiny cars, with Nissan, Honda, Daihatsu and now Suzuki offering them. Together, the Japanese brands control about 80 percent of the market. Suzuki targets around 1,000 monthly sales for the tiny EV, which has a battery range of 310 kilometers (193 miles) and a base price of ¥2.1 million. Photo shows the Suzuki eSky in Tokyo on October 6. BLOOMBERG

GCash users may buy 100 shares By VG Cabuag @villygc

YNT Inc., the operator of GCash, is allowing the public to purchase a minimum of 100 shares equivalent to P660 at its offer price of P6.60 apiece. GCash shares are available in its application—the GStocks feature— on October 6 and 7. The company said orders beyond the first 100 will be processed on a first-come, first-served basis, subject to availability, with order fulfillment starting October 8. In a statement, the e-wallet operator said eligible users can open GStocks PH within GCash and transfer funds from their GCash wallet to their trading wallet. They can then tap the Mynt initial public offering (IPO) banner anytime during the offer period, input their preferred

number of shares, review the order, and hit “Buy” to confirm. “If the demand exceeds the initial shares available to the broker, AB Capital Securities Inc., it will be shown as oversubscribed in the GStocks PH IPO meter, but users can still place order on the platform and wait until after the offer period to find out their allocation status. Oversubscribed orders are not guaranteed, with any remaining funds returned to the user.” Philstocks Financial Inc. said that at the P6.60 offer price, investors get a 38-percent potential upside for its target price of P9.10. The stockbroker said this takes into account the forecasted 2026 earnings per share of the company at P0.29, as well as select global peers’ average price-to-earnings (PE) ratio of 31.16x.

Revenue is projected to grow an average of 13.2 percent annually to P147.792 billion in 2030 from P79.843 billion last year. Net income, meanwhile, is projected to grow an average of 14.24 percent per year to P33.435 billion in 2030 from P17.249 billion in 2025. This then will translate to the earnings per share growing to P0.50 in 2030 from P0.26 last year. At the offer price, Mynt’s PE ratio is 24.6x, which is below the peer average, the stockbroker said. Given the current pricing, Philstocks said this could stimulate strong investor demand. Economic recovery is expected to increase the usage of payment solutions, credit, and financial services, it added. Online stockbroker COL Financial Inc. said the GCash IPO price is offering discount relative to regional

peers which are trading at 33.3 times PE and 24.2 times PE for 2026 and 2027, respectively As an integrated fintech business, Mynt is poised to benefit from the forecasted 21.2 percent annual growth of the domestic digital payments market, estimated to reach P285 trillion by 2030. GCash held a 15.6 percent market share as of 2025, with digital transactions climbing 28.1 percent yearon-year to P17.0 trillion. Mynt’s unit Fuse Financing Inc., meanwhile leverages Gcash’s extensive customer data via a proprietary credit-scoring system, GScore, to target the micro-lending and consumer credit market. GCash’s non-performing loan ratio improved to 4.9 percent in the first half ending June, remaining well below digital and commercial bank averages, COL said.

UCHENGCO-LED PetroGreen Energ y Cor p. (PGEC), through its subsidiar ies R iza l Green Energ y Corp. (RGEC) and BKS Green Energy Corp. (BKS), has secured a P1.24-billion project finance facility from Rizal Commercial Banking Corp. (RCBC). The funds will partially finance the construction of the 40 -MWDC/33-MWAC groundmounted solar power plant in Limbauan, San Pablo, Isabela. “The Limbauan Solar Power Project represents another significant step in expanding PGEC’s renewable energy portfolio and supplying clean, sustainable electricity to the Luzon grid and local electric cooperatives,” said PGEC Vice President Arlan P. Profeta. T he L i mbau a n sol a r power project is developed in two phases: Phase 1 covers 6.006M W D C /5.013 - M WAC a nd i s backed by a power supply agreeme nt ( P S A ) w it h I s a b e l a I I E le c t r ic Co op e r at ive ( I se lco II), whi le Phase 2 compr ises 33.831-MW DC/28.160 -MWAC and was awarded with the Department of Energy’s (DOE) Green Energy Auction 2 (GEA-2) tariff. “ Sup p or t i ng c le a n e ne rg y projects like the Limbauan Solar Power Project aligns with RCBC’s core commitment to driving sustainable finance and accelerating the nation’s energy transition,” said RCBC Institutional Banking Group head Elizabeth Coronel. BKS is a project company of Rizal Green Energy Corp. and PGEC, the renewable energy arm of publicly -listed PetroEnergy Resources Corp. BKS is dedicated to developing, constructing, and operating the 40-MWDC Limbauan solar power project. T he company recent ly ob tained the approval of the Energy Regulatory Commission to build and own a dedicated point-topoint transmission facility which will connect its 33.831-megawatt pea k (M Wp) Limbauan Solar Power Project-Phase 2 (LSPP-2) in Isabela directly to the National Grid Corporation of the Philippines. Lenie Lectura

Companies BusinessMirror

Wednesday, October 7, 2026

PSE STOCK QUOTATIONS

October 6, 2026

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS

ASIA UNITED BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FIRST ABACUS FERRONOUX HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

46.6 110.4 10.26 93.05 48.5 10.04 60.95 6.92 14.68 76.3 48.6 21 61.25 21.1 0.51 1.51 0.355 3.63 2,580 1.22 204.2 4,710 1.33

46.9 110.5 10.7 93.1 49.5 10.1 61 6.98 14.7 76.5 51.5 21.05 61.3 21.75 0.52 1.55 0.52 3.73 2,650 1.23 205.4 4,800 1.34

46.9 110.5 10.76 93.45 50 10.12 61.4 6.92 14.68 76.35 49 21.05 61.2 21.15 0.52 1.53 0.5 3.68 2,600 1.18 205 4,710 1.33

47 111.3 10.76 93.65 50 10.14 61.45 6.92 14.7 76.8 51.65 21.05 62.25 21.4 0.52 1.55 0.5 3.68 2,650 1.22 209 4,710 1.33

46.5 109.2 10 92.7 48.5 10.06 60.95 6.92 14.68 76.05 48.5 21.05 61.2 21.1 0.52 1.52 0.5 3.63 2,600 1.18 205 4,710 1.3

46.5 110.5 10.7 93.1 48.5 10.1 61 6.92 14.68 76.5 51.5 21.05 61.3 21.1 0.52 1.55 0.5 3.63 2,600 1.22 205.4 4,710 1.33

22,600 4,916,060 79,200 1,162,340 339,140 60,500 2,749,520 700 6,400 441,380 1,800 12,200 240,380 23,400 301,000 88,000 50,000 60,000 240 261,000 7,580 35 880,000

1,058,805 542,035,549 830,254 108,319,601 16,699,650 609,498 167,884,426 4,844 93,954 33,776,032 89,145 256,810 14,754,909 495,415 156,520 134,970 25,000 219,800 624,250 315,660 1,554,278 164,850 1,160,800

144,150 -9,551,311 163,000 -6,565,751 -4,101,574 -56,514 -67,171,930 4,844 92,484 25,766,269 -5,160 -254,705 2,986,459 -12,730 598,000 955,640 141,300 -

INDUSTRIAL ACEN CORP 2.7 2.71 2.63 2.71 2.57 2.7 7,898,000 21,135,700 -2,936,320 ALSONS CONS 1.04 1.07 1.08 1.1 1.04 1.07 2,011,000 2,136,050 -220,140 ALTERNERGY HLDG 0.61 0.62 0.64 0.65 0.6 0.62 6,181,000 3,773,250 294,290 ABOITIZ POWER 46.3 46.4 46.5 46.5 46 46.3 146,300 6,780,130 2,126,190 RASLAG 1.08 1.07 1.07 1.1 1.06 1.09 552,000 601,710 0.105 0.105 BASIC ENERGY 0.103 0.105 0.103 0.105 2,730,000 284,420 -66,150 CITICORE RE 4.51 4.58 4.52 4.64 4.51 4.58 72,000 325,760 -9,020 FIRST GEN 19.52 19.54 18.32 19.7 18.32 19.52 1,681,700 31,951,280 -4,795,834 FIRST PHIL HLDG 88.3 88.4 89 89 88 88.3 224,930 19,826,719 1,974,919 JOLLIVILLE HLDG 3.94 3.94 3.11 3.94 3.94 3.94 3,000 11,820 426.6 MERALCO 412.2 415.6 424.2 411.4 412.2 244,710 101,441,734 -34,638,850 MANILA WATER 32.95 33.55 33.5 33.95 32.95 32.95 1,284,800 42,912,095 -15,299,565 15.9 15.94 16.16 15.9 15.9 2,203,200 35,247,618 -6,395,936 MAYNILAD 16.38 2.25 2.29 2.21 2.21 2.25 354,000 786,680 -17,760 PETRON 2.25 4.5 4.69 4.75 4.5 4.5 254,000 1,146,830 PETROENERGY 4.69 PRYCE CORP 16.1 16.16 16.8 16.8 16 16.1 20,900 335,876 REPOWER ENERGY 9.6 9.71 9.43 9.5 9.43 9.5 400 3,779 SEMIRARA MINING 13.12 13.26 13.36 13.72 13.06 13.12 1,114,700 14,796,136 -1,478,988 22.9 23 22 23.5 21.95 23 1,976,900 45,381,500 13,283,880 SYNERGY GRID 8 8.02 8 8.22 7.93 8 766,700 6,175,875 -668,622 SHELL PILIPINAS 9.05 9.15 9.05 9.2 9.05 9.15 21,700 197,109 -55,393 SPC POWER 1.16 1.17 1.15 1.17 1.15 1.16 9,740,000 11,321,850 -3,557,460 SP NEW ENERGY 1.61 1.62 1.63 1.64 1.6 1.62 568,000 919,230 TOP LINE VIVANT 18.4 20.2 20.2 20.25 2,000 40,415 20.25 20.25 AXELUM 2.69 2.59 2.59 2.59 2.59 2.59 1,000 2,590 BALAI FRUITAS 0.27 0.295 0.28 0.28 0.28 0.28 100,000 28,000 11,200 CENTURY FOOD 33 33 32.9 32.2 32.2 33 535,500 17,655,915 -6,000,805 DEL MONTE 3.29 3.3 3.36 3.36 3.29 3.3 9,000 29,870 -6,720 DNL INDUS 3.38 3.39 3.4 3.4 3.37 3.39 402,000 1,361,780 -108,430 EMPERADOR 15.14 15.1 16.3 16.3 15.1 15.1 2,021,000 30,563,256 -3,504,342 SMC FOODANDBEV 43.8 44.3 44 44.5 43.8 44.3 42,500 1,876,700 -1,054,910 FIGARO GROUP 0.66 0.67 0.66 0.7 0.65 0.66 18,372,000 12,548,470 51,700 ALLIANCE SELECT 0.51 0.54 0.56 0.56 0.51 0.54 1,512,000 795,960 520 FRUITAS HLDG 0.65 0.65 0.63 0.65 0.63 0.64 216,000 139,270 218.6 GINEBRA 218.6 220 220 221 216 24,420 5,332,070 -431,586 JOLLIBEE 140.9 140.8 142 143 140.5 140.8 283,570 40,020,645 -3,875,832 1.79 1.82 1.75 1.83 1.75 1.79 1,164,000 2,080,110 1,311,180 KEEPERS HLDG 21.5 22.85 21.5 22 21.5 22 1,400 30,165 LIBERTY FLOUR MACAY HLDG 5.44 5.84 5.45 5.45 5.44 5.44 12,100 65,924 MAXS GROUP 1.93 2 1.98 1.99 1.98 1.99 6,000 11,910 MONDE NISSIN 6.02 6.03 6.18 6.3 6.03 6.03 7,133,100 43,135,250 4,953,641 5.4 5.42 5.44 5.47 5.41 5.42 8,400 45,677 -25,024 SHAKEYS PIZZA 2.25 2.31 2.39 2.39 2.26 2.26 24,000 55,360 2,260 ROXAS AND CO 4.96 4.97 5.01 5.05 4.94 4.96 501,200 2,493,586 -1,133,441 RFM CORP 0.048 0.051 0.052 0.052 0.05 0.05 1,370,000 68,540 SWIFT FOODS UNIV ROBINA 55.9 55.95 56.45 56.55 55.1 55.95 1,551,850 86,861,037 -24,957,877 0.49 0.5 0.49 0.49 0.49 84,000 41,160 VITARICH 0.49 ATN HLDG A 0.375 0.385 0.39 0.39 0.38 0.38 1,300,000 497,500 ATN HLDG B 0.38 0.385 0.385 0.385 0.385 0.385 1,600,000 616,000 CONCRETE 52.95 58.4 58.45 58.45 58.4 58.4 170 9,929 -584 CONCREAT HLDG 1.12 1.12 1.09 1.1 1.08 1.12 1,499,000 1,634,990 EEI CORP 1.88 1.9 1.95 1.95 1.88 1.88 76,000 147,640 -128,550 MEGAWIDE 5.2 5.24 5.27 5.27 5.05 5.24 911,700 4,730,133 -45,908 PHINMA 14.56 14.02 14.56 14.56 14.56 14.56 100 1,456 42.3 SUPERCITY 38 40.5 45 36.3 42.8 6,900 272,795 CROWN ASIA 1.87 1.89 1.88 1.88 1.87 1.87 7,000 13,140 1.21 EUROMED 1.14 1.16 1.21 1.11 1.16 24,000 27,790 4,490 CONCEPCION 10.78 10.68 10.8 10.8 10.8 10.8 2,100 22,680 0.139 0.139 GREENERGY 0.136 0.138 0.135 0.139 1,690,000 229,030 INTEGRATED MICR 5.61 5.65 6 6.1 5.61 5.61 6,316,100 36,582,847 6,595,176 3.87 3.84 3.95 3.75 3.88 2,214,000 8,554,080 1,314,910 IONICS 3.88 7.3 7.35 7.35 7.35 7.35 7.35 300 2,205 PANASONIC CIRTEK HLDG 1.35 1.36 1.49 1.49 1.36 1.36 7,332,000 10,221,280 -2,101,700 1.95 1.95 1.95 1.95 1.95 139,000 271,050 STENIEL 1.99

HOLDING & FRIMS

ABACORE CAPITAL 0.295 0.3 0.295 0.305 0.295 0.3 450,000 133,400 ASIABEST GROUP 26.5 27 31 33.3 27 27 600,300 18,280,765 -6,202,725 AYALA CORP 530 534 524 544 515.5 530 573,240 305,292,680 31,409,355 ABOITIZ EQUITY 38 38.8 39 39 37.95 38 2,870,700 109,391,860 42,655,990 ALLIANCE GLOBAL 8.93 8.94 8.98 8.98 8.82 8.94 461,600 4,100,808 -2,994,361 ANSCOR 16.84 16.08 16.8 16.08 16.08 16.8 13,500 221,562 40,200 ANGLO PHIL HLDG 1.14 1.18 1.18 1.2 1.12 1.18 573,000 659,830 42,960 COSCO CAPITAL 7.5 7.53 7.3 7.5 7.3 7.5 176,800 1,322,785 -457,746 DMCI HLDG 7.31 7.36 7.61 7.61 7.31 7.31 1,329,500 9,887,562 -6,654,660 FILINVEST DEV 3.9 3.9 3.83 3.83 3.83 3.9 18,000 69,290 30,640 FORUM PACIFIC 0.305 0.305 0.265 0.28 0.265 0.305 1,600,000 433,300 -600 GT CAPITAL 428 429 426 428 419 428 38,070 16,233,126 3,533,808 4.9 5 5 5 4.85 4.85 1,600 7,971 HOUSE OF INV JG SUMMIT 17.6 17.86 18 18 17.6 17.6 710,600 12,598,390 -9,070,024 0.38 0.415 0.38 0.415 400,000 155,100 -3,900 LODESTAR 0.415 0.415 4.75 4.8 4.6 4.8 4.6 4.75 151,000 717,210 -14,590 LOPEZ HLDG 15.36 15.46 15.48 15.6 15.36 15.36 2,920,900 45,148,828 19,996,160 LT GROUP 1.32 1.35 1.35 1.35 1,000 1,350 1.35 1.35 PACIFICA HLDG PRIME MEDIA 0.95 1.07 1.1 1.1 1.07 1.07 45,000 48,320 SOLID GROUP 1.16 1.22 1.19 1.23 1.15 1.23 121,000 145,420 SM INVESTMENTS 499.6 499.8 497 503 495 499.6 422,730 211,277,498 -84,284,732 58 58.75 58.75 59.45 58 58.75 77,740 4,562,678 -2,654,012 SAN MIGUEL CORP 2.22 2.37 2.21 2.21 2.2 2.2 40,000 88,090 SEAFRONT RES TOP FRONTIER 51.6 53 53 53 1,000 53,000 53 53 ZEUS HLDG 0.064 0.074 0.076 0.076 0.076 0.076 10,000 760 PROPERTY ANCHOR LAND 3.15 3.58 3.15 3.15 3.15 3.15 1,000 3,150 AYALA LAND 15.3 15.32 15.36 15.36 15.2 15.32 14,595,100 223,471,132 -4,707,494 AYALA LAND LOG 1.1 1.14 1.13 1.15 1.1 1.14 173,000 192,650 111,530 ALTUS PROP 11 11 10.88 10.92 10.88 10.88 21,100 229,612 34,816 ARANETA PROP 0.255 0.275 0.26 0.26 0.255 0.26 250,000 64,650 AREIT RT 36.8 36.9 37 37 36.7 36.8 634,400 23,356,630 8,066,720 A BROWN 0.75 0.75 0.73 0.75 0.73 0.75 182,000 135,180 37,740 CITYLAND DEVT 0.53 0.54 0.57 0.57 0.51 0.54 2,437,000 1,265,840 57,570 CROWN EQUITIES 0.089 0.091 0.089 0.089 0.089 0.089 420,000 37,380 CEB LANDMASTERS 1.96 1.97 1.96 1.98 1.95 1.97 146,000 285,270 0.6 0.6 CENTURY PROP 0.59 0.59 0.57 0.6 4,168,000 2,441,850 -486,790 CITICORE RT 2.93 2.9 2.92 2.9 2.89 2.9 2,142,000 6,230,050 -1,561,090 11.46 11.48 10.98 10.88 11.46 359,900 4,015,390 91,006 DOUBLEDRAGON 11.56 1.03 1.03 1.02 1.04 1,413,000 1,456,820 -10,400 DDMP RT 1.04 1.04 4.72 4.85 4.8 4.8 4.8 4.8 8,000 38,400 DM WENCESLAO EVERWOODS 0.024 0.024 0.024 0.026 3,700,000 89,200 0.026 0.026 EMPIRE EAST 0.104 0.105 0.106 0.106 0.105 0.105 340,000 35,940 FILINVEST RT 2.78 2.79 2.76 2.78 2.76 2.78 1,270,000 3,516,840 -2,692,430 0.7 0.71 0.72 0.72 0.7 0.7 1,027,000 722,570 -32,500 FILINVEST LAND 0.65 0.66 0.66 0.66 1,000 660 GLOBAL ESTATE 0.66 0.66 JACKSTONES 1.66 1.7 1.7 1.7 1.7 1,000 1,700 1,700 1.8 2.5 2.7 2.5 2.5 2.5 2.5 13,000 32,500 KEPPEL PROP PNB HLDG 1.2 1.2 1.19 1.2 54,186,000 65,026,560 -12,030,620 1.21 1.21 2.15 2.17 2.13 2.13 2.16 4,374,000 9,405,370 -1,805,340 MEGAWORLD 2.16 MRC ALLIED 0.7 0.7 0.68 0.69 0.69 0.69 8,168,000 5,711,310 234,500 MREIT RT 13.4 13.42 13.42 13.46 13.38 13.4 575,300 7,712,916 -2,358,526 OMICO CORP 0.1 0.102 0.101 0.101 0.1 0.1 950,000 95,410 PRMIERE HORIZON 0.144 0.146 0.15 0.152 0.144 0.144 2,320,000 341,000 5,740 PHIL RACING 5.4 5.4 5.02 5.4 5.4 5.4 200 1,080 1 1 PREMIERE RT 0.99 1 0.95 0.99 107,000 105,430 PRIMEX CORP 0.93 1.04 0.92 0.92 0.92 0.92 1,000 920 920 RL COMM RT 6.15 6.2 6.24 6.35 6.13 6.15 8,414,900 52,161,039 18,894,496 ROBINSONS LAND 15.8 15.8 15.68 15.62 15.62 15.68 1,889,200 29,707,110 -15,923,836 ROCKWELL 2.64 2.59 2.6 2.6 2.55 2.59 385,000 1,002,230 -207,250 SHANG PROP 2.81 2.86 2.85 3 2.72 2.86 8,989,000 25,264,990 36,520 STA LUCIA LAND 1.73 1.77 1.8 1.85 1.7 1.77 111,000 191,200 -80 15.84 15.86 16.24 16.24 15.8 15.86 2,092,300 33,209,452 -11,177,128 SM PRIME HLDG SERVICES ABS CBN 2.52 2.54 2.55 2.55 2.52 2.54 63,000 159,460 GMA NETWORK 3.23 3.33 3.26 3.39 3.2 3.38 229,000 747,660 0.174 0.174 MANILA BULLETIN 0.146 0.174 0.174 0.174 30,000 5,220 DITO CME HLDG 0.54 0.55 0.57 0.57 0.54 0.55 10,201,000 5,659,920 -1,453,040 GLOBE TELECOM 1,546 1,570 1,548 1,600 1,546 1,546 97,305 152,889,135 -38,743,375 PLDT 1,105 1,100 1,101 1,115 1,092 1,105 72,255 79,830,050 18,030,680 APOLLO GLOBAL 0.0059 0.006 0.0058 0.0061 0.0058 0.0059 33,000,000 196,200 8.88 CONVERGE 8.8 8.81 8.81 8.8 8.81 590,200 5,217,191 550,893 DFNN INC 0.61 0.64 0.66 0.66 0.6 0.6 224,000 135,330 -107,210 IMPERIAL 0.83 0.83 0.98 0.83 0.83 0.83 9,000 7,470 ISLAND INFO 0.123 0.125 0.121 0.127 0.12 0.125 4,430,000 548,600 NOW CORP 0.365 0.37 0.37 0.385 0.37 0.37 420,000 156,800 -15,150 0.115 0.116 0.115 0.115 0.115 0.115 1,420,000 163,300 -44,850 TRANSPACIFIC BR 0.85 0.87 0.86 0.84 0.85 456,000 391,620 30,110 CHELSEA 0.88 20.5 20.8 20.7 21 20.4 20.5 88,200 1,825,525 -88,905 CEBU AIR 890 896.5 903 908 885 890 813,780 728,396,855 -62,043,785 INTL CONTAINER 8.1 9 8.28 8.49 7.59 8.1 12,500 101,265 2,976 LBC EXPRESS 0.63 0.65 0.64 0.64 0.64 0.64 1,000 640 LORENZO SHIPPNG MACROASIA 3.3 3.33 3.43 3.3 3.3 16,000 54,780 -20,390 3.52 0.52 0.58 0.5 0.52 4,000 2,180 METRO ALLIANCE 0.58 0.58 PAL HLDG 3.61 3.53 3.53 3.65 2,642,000 9,566,810 -858,140 3.65 3.65 1.48 1.49 1.4 1.51 1.39 1.49 2,151,000 3,117,940 622,840 HARBOR STAR 0.029 0.03 0.029 0.03 0.028 0.029 26,000,000 743,700 BOULEVARD HLDG DISCOVERY WORLD 0.88 1.01 1.02 1.02 1.02 1.02 3,000 3,060 GRAND PLAZA 5 5.03 5.02 5.02 5.02 5.02 100 502 PH RESORTS GRP 0.177 0.182 0.176 0.184 0.175 0.184 460,000 81,740 25,530 CENTRO ESCOLAR 14.1 14.46 14.46 14.46 14 14.1 57,600 809,310 10,450 FAR EASTERN U 751.5 799.5 751 751 751 751 730 548,230 6.99 7.13 IPEOPLE 7.13 7.14 6.98 7.13 24,700 173,942 1.29 1.29 STI HLDG 1.28 1.28 1.28 1.29 337,000 431,420 413,440 BELLE CORP 1.09 1.09 1.07 1.09 1.06 1.09 71,000 77,240 1.97 BLOOMBERRY 1.92 1.93 1.96 1.92 1.92 4,454,000 8,627,330 -4,334,620 PACIFIC ONLINE 1.5 1.66 1.52 1.52 1.5 1.5 133,000 200,120 33,220 DIGIPLUS 8.08 7.77 7.78 7.9 7.75 7.78 2,245,000 17,622,062 -438,695 PHILWEB 14.02 13.8 14.08 14.1 13.72 14.02 1,728,700 24,038,618 -7,935,256 METRO RETAIL 1.04 1.06 1.07 1.07 1.04 1.06 91,000 94,730 53,100 40 39.7 39.7 40 930,700 37,226,765 11,847,675 PUREGOLD 40.05 40.05 29.9 30 29.95 30 29.9 30 125,700 3,770,625 -186,010 PHIL SEVEN CORP 1.95 2.04 1.94 2 1.91 1.95 152,000 298,040 -6,060 SSI GROUP 0.76 0.77 0.78 0.78 0.77 0.77 7,000 5,440 UPSON INTL CORP WILCON DEPOT 5.5 5.56 5.5 5.6 5.5 5.56 283,800 1,577,044 1,118 0.1 0.101 0.101 0.101 20,000 2,020 APC GROUP 0.101 0.101 MEDILINES 0.231 0.23 0.23 0.231 2,500,000 575,420 -4,610 0.233 0.233 2.9 3.1 3.1 3.1 3.1 8,000 24,800 PAXYS 3.2 SBS PHIL CORP 2.99 3.07 3.01 3.08 3 3 11,000 33,250 2,940 MINING & OIL ATOK 1.91 2 2.07 2.12 1.87 2 38,000 73,200 APEX MINING 16.94 16.96 17.6 17.6 16.94 16.96 1,684,300 28,724,926 -2,310,938 ATLAS MINING 18.24 18.3 19.3 19.5 18.24 18.24 2,623,900 49,086,410 -5,498,094 BENGUET 2,044,250 6.35 6.5 6.7 6.7 6.5 6.5 314,100 130,400 DIZON MINES 3.21 4.19 4.3 4.3 4.2 4.2 19,000 80,430 0.33 0.33 EC VULCAN 0.305 0.325 0.325 0.33 60,000 19,550 1.66 FERRONICKEL 1.63 1.65 1.65 1.62 1.65 784,000 1,285,740 -255,840 GEOGRACE 0.077 0.08 0.076 0.08 0.076 0.077 540,000 41,580 LEPANTO A 0.223 0.224 0.224 0.227 0.223 0.223 5,020,000 1,123,070 LEPANTO B 0.221 0.235 0.236 0.236 0.235 0.235 180,000 42,460 MANILA MINING A 0.0081 0.0083 0.0083 0.0083 0.0082 0.0083 5,000,000 41,300 0.76 0.78 0.8 0.76 0.79 628,000 495,530 -760 0.79 MARCVENTURES 0.5 0.51 0.51 0.5 0.51 140,000 71,350 NIHAO 0.52 NICKEL ASIA 3.78 3.8 3.83 3.88 3.76 3.78 969,000 3,715,220 1,091,660 34 35 35 34 34 455,900 15,740,605 -9,226,890 OCEANAGOLD 34.75 0.55 0.56 0.55 0.58 19,000 10,840 ORNTL PENINSULA 0.58 0.58 PX MINING 11.04 11.18 11.32 11.32 10.98 11.04 4,359,200 48,177,318 9,615,222 0.0082 0.0087 0.0085 0.0086 0.0085 0.0086 67,000,000 573,100 UNITED PARAGON ENEX ENERGY 3.19 3.7 3.79 3.79 3.75 3.75 8,000 30,280 -26,530 0.014 0.015 0.015 0.015 0.014 0.015 33,000,000 493,700 ORNTL PETROL A ORNTL PETROL B 0.015 0.016 0.016 0.016 0.015 0.015 21,600,000 324,100 PHILODRILL 0.0097 0.01 0.0097 0.0097 0.0099 25,000,000 242,900 0.0099 PXP ENERGY 2.9 2.94 2.93 2.95 2.89 2.9 431,000 1,253,970 110,200 PREFFERED ACEN PREF A 980 985 985 985 980 980 90 88,550 ACEN PREF B 1,030 1,040 1,030 1,030 1,030 1,030 200 206,000 AC PREF B3R 1,832 1,896 1,896 1,896 1,896 1,896 35 66,360 AC PREF B4R 1,890 1,900 1,900 1,900 1,900 1,900 5 9,500 ALCO PREF D 492 495 490 490 490 490 400 196,000 ALCO PREF G 500 504 504 504 500 500 20 10,040 40 ALCO PREF H 500.5 505 505 505 505 505 340 171,700 CEB PREF 22.6 26.25 26.5 26.5 22.5 26.4 600 15,080 CLI PREF A1 950 980 980 980 980 980 10 9,800 CLI PREF A2 982 1,005 1,005 1,005 1,005 1,005 65 65,325 CPG PREF B 97 99 97 97 97 97 20 1,940 DD PREF 93.2 93.55 93.6 93.6 93 93.55 13,320 1,240,906 94 96 96 96 96 96 210 20,160 EEI PREF B GLO PREF ANV 1,910 1,943 1,908 1,908 1,908 1,908 10 19,080 GLO PREF BNV 1,940 1,978 1,979 1,979 1,979 1,979 10 19,790 MWIDE PREF 6B 98.5 100 100 100 100 100 120 12,000 -12,000 103.4 108 104.5 108 104 108 9,430 1,007,481 MWIDE PREF 6C MWIDE PREF 7A 99 101.2 101.2 101.2 101.2 101.2 10 1,012 PCOR PREF 4A 961.5 990 970 990 970 990 80 77,800 PCOR PREF 4B 960 990 964.5 964.5 950 950 5,100 4,861,450 PCOR PREF 4D 956.5 985 985 986.5 985 986.5 110 108,365 -59,115 970 987 987 987 987 987 70 69,090 PCOR PREF 4E SFI PREF 0.69 1.05 1.05 1.05 3,000 3,150 1.05 1.05 SMC PREF 2L 77.6 80.75 77.6 80.75 77.2 80.75 18,800 1,491,876 -619,776 SMC PREF 2N 76 77 76.85 76.85 76 76 25,720 1,956,285 -1,819,453 SMC PREF 2O 78.05 78.4 78.4 78.4 78.4 78.4 650 50,960 SMC PREF 2P 72 74.5 74.6 74.6 74.55 74.55 30 2,238 SMC PREF 2Q 72.25 74.5 74.5 74.5 74.5 74.5 80 5,960 SMC PREF 2S 73.6 74.8 72.1 73.6 72.1 73.6 16,360 1,201,936 SMC PREF 2U 75 75.9 74.5 75 74.5 75 990 74,085 SMC PREF 2V 75.6 76.5 76 76.7 76 76.7 1,890 143,675 SMC PREF 2W 77.8 78.5 78 78 77.5 77.9 1,050 81,625 SMC PREF 2X 78.35 78.4 78.6 78.6 78.4 78.4 15,100 1,184,601 TECH PREF B2C 8.61 9 8.61 8.61 8.61 8.61 100 861 TECH PREF B2D 6.23 7 6.21 6.25 6.21 6.25 9,000 56,193 TOP PREF A1 99.9 99.95 99.9 99.9 99.9 99.9 50 4,995 100.1 100.3 100.4 100.5 100.3 100.3 2,060 206,787 -129,495 TOP PREF A2

PHIL. DEPOSITARY RECEIPTS

ABS HLDG PDR GMA HLDG PDR

WARRANTS

AGI WARRANT

2.2 3.15

1.06

SM A L L, M ED I U M & EM E R G IN G

CTS GLOBAL HAUS TALK ITALPINAS KEPWEALTH XURPAS

2.45 3.25 3.25 3.25 3.25 3.25 7,000 22,750

0.34 1.37 0.54 1.36 0.188

1.1

1.06

1.05

3,000

3,160

-1,060

0.345 1.41 0.56 1.46 0.199

0.345 1.37 0.54 1.38 0.203

0.35 1.41 0.56 1.38 0.203

0.345 1.36 0.54 1.36 0.18

0.345 1.41 0.56 1.36 0.199

700,000 331,000 2,000 22,000 680,000

243,000 458,110 1,100 29,990 128,350

-34,750 1,370 -9,740

EXHANGE TRADE FUNDS ATR FAMI ETF

97.5

97 97.5 97 97 7,270 705,929 -

www.businessmirror.com.ph

ACEN unit secures loan for renewable energy projects

By Lenie Lectura

@llectura

CEN Corp.’s subsidiary, ACEN Investments Inc., is borrowing 50 million euros from banks to finance its renewable energy (RE) projects. “The company’s subsidiary, ACEN Investments Inc., as borrower, ING Bank N.V., Manila Branch, as lender, and ING Bank N.V. Singapore Branch, as agent, completed the signing of a term loan facility worth EUR 50 million to be used to finance and/ or refinance investments in and/or

advances to existing and future renewable energy projects through its subsidiaries and joint ventures, for general corporate purposes,” it said on Tuesday. The company gave no other details. ACEN manages an attributable

renewable energy capacity of over 7,000 megawatts (MW) as of midthis year, spanning operations and development across the Asia-Pacific region. Last August, the listed energy platform of the Ayala Group said its net income surged by 411 percent year-on-year to P3.9 billion in the first half, driven by a 21-percent rise in renewable energy (RE) generation to 4,024 gigawatt hours (GWh). The company’s attributable renewables portfolio expanded to 7,517 MW, with 57 percent of the portfolio now operational, alongside a 40-percent increase in its earnings before interest, taxes, depreciation, and amortization (EBITDA) to P14.7 billion.

In the Philippines, the company’s RE portfolio generated 1,091 GWh, representing a 17-percent increase year-on-year, due to the improved availability of its Pagudpud and Capa 2 wind assets in Ilocos Norte. Revenues jumped by 41 percent year-on-year to P23.6 billion while its attributable EBITDA climbed by 48 percent to P6.6 billion. Results were bolstered by higher contracted energy sales, driven by the sustained expansion of the retail electricity supply business (ACEN RES)—which grew its portfolio to 587 MW, an increase of nearly 22 percent from end-2025—and the full effectivity of the company’s 160MW Meralco mid-merit contract.

Meralco ties up with Lucban school MUTUAL FUNDS T HE Manila Electric Co. (Meralco) said on Tuesday it has partnered with the Banahaw Technological College Inc. (BTCI) to boost its commitment to develop more future-ready professionals. During the ceremonial signing of the memorandum of agreement last September 28, Meralco pledged continuing efforts to bridge education and industry, ensuring that students gain firsthand appreciation of the work, technologies, and career opportunities available in the energy sector. “With this partnership, we aim to help the students of BTCI become immediately employable. Meralco is here to support students achieve their career goals and we hope that this is a successful pilot because we want to replicate this nationwide,” Meralco First Vice President and Chief Human Resources Officer Hans R. Montenegro said. Under the Meralco Talent Farm Program, BTCI students will gain industry exposure, structured practicum experiences, mentorship, and career opportunities aligned with Meralco’s technical workforce requirements. The program is a strategic initiative designed to cultivate

a sustainable pipeline of future technical talent. BTCI President and CEO Tommy Joseph R. Abustan said the partnership with Meralco will pave the way for students to achieve professional growth and development. “There is a future here in Meralco because there is career growth and development. This partnership is a big opportunity for our students and our school.” Based in Lucban, Quezon, BTCI is an institution accredited by the Technical Education and Skills Development Authority that offers programs highly relevant to Meralco’s operations, including Electrical Technology, Electric Installation and Maintenance, and Mechatronics. With over 600 students, the school has been identified as a strong source of job-ready technical talent due to its competency-based training model and industry-focused approach. “We hope that through this partnership, students gain practical industry knowledge. Our Meralco engineers are ready to mentor and guide them, while providing meaningful industry exposure that they can use for their professional development,” Meralco Senior Vice President and Head of Networks Froilan J. Savet said. Lenie Lectura

VinFast VF 3 honored during Disway Awards

HE VinFast VF 3, a miniSUV from Vietnam, has been honored with the “Trusted & Popular Brand 2026” title in the Passenger BEV category at the Disway Awards 2026. The accolade reflects the VF 3’s appeal and growing recognition among Indonesian consumers, while also underscoring VinFast’s ability to understand and respond to the needs of the local market. The Disway Awards is an annual awards program organized by Disway National Network, one of Indonesia’s leading media networks, in partnership with independent research firm Infovesta Utama. The awards recognize brands and products that have made a strong impression on consumers across sectors including banking, technology, retail, healthcare, transportation, food and beverage, education, and public services. This year’s results were based on a survey of 20,000 people across 20 major cities in Indonesia. Brands recognized in each category were those

mentioned first by respondents and achieving an awareness rate of more than 70 percent. In the Passenger BEV category, the VinFast VF 3 achieved the highest level of awareness among respondents. The model’s appeal comes down to three key strengths. Its bold, modern design and compact size make it easy to maneuver and well suited to urban driving. “Despite its mini-SUV dimensions, the VF 3 offers four seats with the comfort and practicality needed for everyday use. Its accessible price and running costs also make EV ownership more attainable for a wider range of Indonesian consumers.” VinFast has also introduced a range of ownership benefits to support customers as it expands in Indonesia. These include free charging at V-GREEN charging stations until March 31, 2029, a residual value guarantee of up to 80 percent, subject to applicable terms and conditions, and the flexibility to either purchase the battery or subscribe to a battery plan.

October 6, 2026

NAV ONE YEARTHREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES)

ALFM GROWTH FUND, INC. -A201.11 -6.28% 0.1% -2% -2.76% -6.06% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 2.2272 6.05% 15.43% 6.43% 4.84% 3.04% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 2.6929 -6.1% -0.8% -2.63% -4.52%-5.55% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.7457 0.85% 3.5% 0.09% N.A1.57% FIRST METRO CONSUMER FUND, INC. -A 0.4812 -15.68% -8.77% -9.25% N.A -13.47% FIRST METRO SAVE AND LEARN EQUITY FUND, INC. -A 4.0992 -7.69% -2.73% -4.15% -2.68% -6.26% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A 0.6118 -5.93% -2.56% -3.97% N.A-4.79% MBG EQUITY INVESTMENT FUND, INC. -A 64.2 -24.75% -9.69% -8.18% N.A -28.23% PAMI EQUITY INDEX FUND, INC. -A 39.9667 -4.18% -0.86% -2.73% -2.41% -3.37% PHILAM STRATEGIC GROWTH FUND, INC. -A 421.51 -6.45% -0.32% -2.5% -2.57% -6.23% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.5258 0.93% 9.74% 3.87% 1.73% -2.27% PHILEQUITY FUND, INC. -A34.1733 -0.71% 2% -0.52% -0.76% -0.75% N.A PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A 0.9064 3.11% 3.65% 0.35% 2.11% PHILEQUITY PSE INDEX FUND, INC. -A 4.3352 -3.14% 0.2% -1.66% -1.55% -3.01% PHILIPPINE STOCK INDEX FUND CORP. -A 713.24 -3.61% -0.18% -2% -1.73% -2.96% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.6806 -1.58% 1.94% -0.93% -2.81% -3.06% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 2.9743 -9.57% -2.43% -4.01% -3.28%-7.33% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.7986 -3.84% -0.61% -2.37% -2%-3.08% UNITED FUND, INC. -A3.48272.75% 5.26% 1.16% 0.14% 5.94% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) COL EQUITY INDEX UNITIZED MUTUAL FUND, INC. -A 1.0021 -3.46% -0.24% N.A N.A -2.98% COL STRATEGIC GROWTH EQUITY UNITIZED MUTUAL FUND, INC. -A 0.9955 -5.46% N.A N.A N.A -4.6% PHILEQUITY ALPHA ONE FUND, INC. -A 0.8618 -9.55% -4.55% -4.87% N.A -8.74% PHILIPPINE STOCK INDEX FUND CORP. -A 861.02 -3.56% -0.36% N.A N.A -2.87% EXCHANGE TRADED FUND (SHARES) ATR FAMI PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,1 97.3396 -3.32% 0.02% -1.68% -1.33%-2.67% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.2541 23.19% 16.97% 2.17% 3.23% 22.41% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $2.4628 14.14% 18.4% 7.01% 8.91% 10.72% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (UNITS) N.A PHILEQUITY GLOBAL FUND, INC. -A 1.0937 N.A N.A N.A N.A BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.1312 -0.15% 0.56% -0.78% -1.01% -0.43% ATRAM UNICAPITAL DIVERSIFIED GROWTH FUND, INC. -A 1.685 4.31% 5.96% 0.16% -0.63%2.98% FIRST METRO SAVE AND LEARN BALANCED FUND, INC. -A 2.4421 -1.29% 0.1% -1.67% -0.66%-0.81% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A 0.2244 -2.98% 6.04% 2.37% N.A-3.23% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9377 -0.45% 0.84% -0.34% 0.2% -3.24% PAMI HORIZON FUND, INC. -A3.6302 -2.51% 2.05% -0.27% -0.43% -4.22% PHILAM FUND, INC. -A15.3475-4.04% 0.8% -1.42% -1% -4.14% SOLIDARITAS FUND, INC. -A2.0504 -1.88% 1.41% -0.12% -0.31% -2.38% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.2985 -4.97% 0.21% -1.65% -1.35%-3.65% SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.8652 -6.03% -0.09% -1.11% -1.17% -5% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) BPI WEALTH BUILDER MULTI-ASSET MUTUAL FUND, INC. -A 10.72 N.A N.A N.A N.A N.A SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A 0.9768 0.67% 2.13% -0.15% N.A -0.2% SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A 0.8255 -1.9% 0.62% -1.91% N.A -1.94% -2.06% SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A 0.7931 0.11% -2.47% N.A -2.23% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03326 -2.75% 1.74% -2.55% -0.78% -3.03% PAMI ASIA BALANCED FUND, INC. -B $1.1524 -6.06% 11.15% 1.72% 2% -4.76% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $5.6427 8% 13.44% 3.95% 5.77%5.7% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.2056 3% 8.34% 0.67% 2.31%1.88% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM PESO BOND FUND, INC. -A 425.4 2.32% 3.23% 2.67% 2.55% 1.29% ATRAM CORPORATE BOND FUND, INC. -A 1.9911 2.3% 1.31% 0.64% 0.42% 1.66% COCOLIFE FIXED INCOME FUND, INC. -A 3.6098 1.59% 3.15% 2.17% 3.16% 0.28% EKKLESIA MUTUAL FUND, INC. -A 2.44 0.32% 2.93% 1.62% 1.47% -0.51% FIRST METRO SAVE AND LEARN FIXED INCOME FUND, INC. -A 2.5013 -1.93% 1.13% 0.58% 1.14%-2.64% PHILAM BOND FUND, INC. -A4.5053 -1.33% 2.45% 0.27% 0.77% -2.27% PHILAM MANAGED INCOME FUND, INC. -A1.547 2.8% 4.51% 3.26% 2.94% 1.78% PHILEQUITY PESO BOND FUND, INC. -A 4.3281 1.21% 2.93% 1.73% 2.08% 0.35% SOLDIVO BOND FUND, INC. -A1.1322 1.99% 2.9% 1.93% 1.76% 1.04% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.4472 -2.33% 2.14% 1.53% 2.11% -2.64% SUN LIFE PROSPERITY GS FUND, INC. -A 1.8321 -1.98% 1.89% 1.05% 1.56% -2.78% CORPORATE DEBT VEHICLE (UNITS) ATRAM UNITIZED CORPORATE DEBT FUND 2 -A 1.0188 N.A N.A N.A N.A N.A PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ALFM DOLLAR BOND FUND, INC. -A $532 1.34% 2.82% 1.75% 1.92% 0.55% ALFM EURO BOND FUND, INC. -A Є221.47 -0.73% 1.63% 0.12% 0.44% -1.03% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.0424 -3.46% 1.9% -2.66% -0.79% -3.03% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0249 -5.68% 1.23% -0.86% -0.08%-6.04% PAMI GLOBAL BOND FUND, INC. -B $1.0449 -1.96% 8.23% 0.3% -0.55% -1.42% PHILAM DOLLAR BOND FUND, INC. -A $2.3583 -4.58% 3.21% -0.98% 0.34% -4.91% PHILEQUITY DOLLAR INCOME FUND, INC. -A $0.0626546 -2.6% 1.11% -0.05% 0.99% -2.78% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.866 -2.44% 3.99% -1.74% -0.65%-2.27% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) AIB MONEY MARKET MUTUAL FUND, INC. -A 1.1902 2.77% N.A N.A N.A 2.04% ALFM MONEY MARKET FUND, INC. -A 153.26 4.12% 4.12% 3.22% 2.88% 2.95% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A 1.2285 3.47% 3.78% 3.08% N.A2.57% SUN LIFE PROSPERITY PESO STARTER FUND, INC. -A 1.5194 3.49% 3.6% 3% 2.77% 2.56% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM MONEY MARKET FUND, INC. -A 117.41 4.07% 4.29% N.A N.A 3.04% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.1979 2.49% 3.28% 2.5% N.A 1.84% FEEDER FUNDS PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A 46.7845 2.51% 4.38% N.A N.A 1.46% MBG ASIA FRONTIER FEEDER UMF, INC. -B 1.7869 N.A N.A N.A N.A N.A SUN LIFE PROSPERITY WORLD EQUITY INDEX FEEDER FUND, INC. -A 2.5704 24.38% 24.49% 14.74% N.A18.45% SUN LIFE PROSPERITY WORLD INCOME FUND, INC. -A 1.1699 7.11% 7.39% N.A N.A 4.86% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (UNITS) ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A $0.7785 -4.92% 1.32% -4.3% N.A -3.89% A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. 1 - RENAMING WAS APPROVED BY THE SEC LAST AUGUST 27, 2026 (FORMERLY, FIRST METRO PHIL. EXCHANGE TRADED FUND, INC.) “While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no

warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www.

pifa.com.ph to see the latest NAVPS/NAVPU.”

www.businessmirror.com.ph

Entrepreneur BusinessMirror

The injustice of quota

HAT draws people to a career in sales? The reasons may differ, but most will admit that sales offers greater income opportunities and the possibility of building a better life. Why, then, do so many salespeople grumble, tremble—or do both—the moment a sales quota is announced? This is The Injustice of Quota: the target intended to drive performance becomes the very number that limits it. Through what I call the Quota-Anchoring Effect, salespeople begin treating a management-assigned target as the measure of their capacity. Some fear it as impossibly high, while others accept it as the ceiling of what they should achieve. Yet reaching that quota may still produce far less income than they desire—and the life they envision may require a much higher personal target. To be clear, not every management quota is fair or realistic. Sales leaders must consider market potential, territory conditions, available resources, historical performance, and the company’s capacity to support execution. But even a credible quota can condition salespeople to underestimate how much they are truly capable of selling. Here are five practical ways to overcome the Quota-Anchoring Effect and help your sales team develop a breakthe-ceiling mindset.

Put a sales number on the life they want

WHEN appropriate, invite each salesperson to consider, “How much do I want or need to earn—and why?” The conversation must remain voluntary, and people should share only what they are comfortable discussing. Encourage them to reflect on their responsibilities, financial goals, desired investments, and the future they hope to build. Then, with their agreement, help calculate the sales required to generate that income under the company’s incentive structure. They may discover that their personal target is much higher than the quota assigned by management.

Do not just set the bar—design the route

A HIGHER personal target can be just as intimidating as the company quota unless people can see how it will be achieved. Break it into annual, quarterly, monthly, weekly, and daily goals. Identify the customers, products, territories, and opportunities that can produce the required sales. Test the plan against market realities, then determine what can come from existing accounts, expanded usage, dormant customers, referrals, and new business. A target becomes believable when salespeople can see a practical and credible route toward reaching it.

Do not just demand the breakthrough—enable it

A HIGHER target requires more than

ambition and a well-designed plan. Help your people develop the knowledge, skills, resources, opportunities, and confidence needed to execute it. This may involve coaching difficult accounts, sharpening selling skills, opening doors, improving market coverage, or removing internal barriers. Enabling people does not mean doing the work for them; they must retain ownership of their targets and actions. If you want people to break through the ceiling, provide more than pressure—build their capability to rise above it. Stop Waiting for the Final Score Do not wait until the end of the month, quarter, or year to discover whether the target will be achieved. Agree on regular checkpoints to review progress, examine the pipeline, identify obstacles, and adjust the plan. Ask not only, “How much have you sold?” but also, “What is working, what is holding you back, and what must happen next?” Make these conversations developmental rather than merely judgmental. Review the journey while there is still time to recover opportunities and close performance gaps.

Celebrate the climb, not just the summit

BREAKING through a perceived ceiling rarely happens through one dramatic leap. It is built through disciplined prospecting, better customer conversations, stronger proposals, recovered accounts, referrals, and lessons learned from rejection. Recognize these signs of progress and reinforce the behaviors that produced them. Encouragement should never replace accountability, but people need leaders who help them see how far they have come. Every meaningful step forward strengthens their belief that the larger goal is within reach. A company quota reflects organizational requirements, while a personal quota reflects individual aspirations. Help your people connect the future they want with the performance it requires—without ignoring market realities or the support they need. Challenge them to set a meaningful target, design a credible route, and take ownership of the journey. Help them see the company quota as their floor—not the ceiling of their potential. God bless! Alexey “Coach Lex” Rola Cajilig is the President and CEO of ARCWAY Consultancy Inc., a recognized Sales Leadership Coach, Strategic Sales Operations Consultant, Christian Motivational Speaker, and Human Ecologist. As the author of The Effective Seller and Solving the Sales Puzzle, Coach Lex empowers leaders and sales professionals to turn knowledge into action, and action into measurable results. He is also the creator of ARCH Styles, a cutting-edge behavioral and personality discovery tool that helps individuals and teams unlock their true potential and perform at their peak. Connect and collaborate with Coach Lex at arcway.ph.

Editor: Vittorio V. Vitug • Wednesday, October 7, 2026 B3

From fragmentation to integration: The case for unified urban transit

By Rizal Raoul S. Reyes

@brownindio

UNIFIED strategy is needed to address a system as complex as urban transit, rather than relying on piecemeal fixes.

Nonetheless, modern mobility solutions, such as those championed by GET (Global Electric Transport), shows how fusing technology with sustainable infrastructure transforms the commuter experience while driving business value. For decades, the public transport landscape in Metro Manila has been defined by a fundamental structural flaw: the boundary system. The operational framework forces drivers to race for individual fares, stay on the road during long, exhausting shifts, and block active lanes until every seat is filled. The City Optimized Managed Electric Transport (COMET) model, developed by Global Electric Transport (GET), replaces this fractured, reactive setup with an integrated mobility ecosystem. By pairing electric fleet management with structured operations, the COMET business model presents a sustainable, scalable blueprint for urban transit. From an entrepreneur’s perspective, Freddie Tinga, president of GET, tells the BusinessMirror in an interview that the company never approached this with that type of mindset. “Here’s a product, now how do we sell it?’ Instead, it was always, ‘How do we solve the problems people face every day?’ And one of those fundamental daily challenges is transportation,” says Tinga.

Financing the COMET

GET buses can be financed through the Department of Trade and Industry’s Small Business Corporation (DTI-SBCorp) P2billion ETransport Loan Program, which offers up to P1.5 million per electric bus (maximum P3 million per borrower), payable over five years with a grace period of 6 months and an effective annual interest rate of about 6.7 percent based on diminishing balance. In April this year, SB Corporation launched its E-Transport Loan Program to support small transport operators shifting to electric vehicles. The P2-billion facility is a response to rising fuel prices while promoting sustainable mobility. Borrowers may access up to P1.5 million per vehicle, with a cap of

P3 million, payable within five years with a grace period of six to twelve months. The interest rate is 1 percent per month on a diminishing balance basis, with an effective per annum interest rate of 6.7 percent. Success of the program depends on tri-sector collaboration: DTI and SB Corporation, transport federations and Global Electric Transport (GET). DTI through SB Corporation enables. Tinga says they reduce the financial burden on the transport operators and ensure public transport modernization aligns with national policy goals of sustainability and social equity. By enabling transport cooperatives to consolidate into federations, they are given them collective bargaining power, access to financing and legitimacy in negotiations. Tinga says this ensures inclusivity and prevents small players from being excluded. Under the setup, GET supplies the technological backbone—electric minibuses, a charging infrastructure, a digital platform and a fleet management system. Their scalable business model leverages economies of scale, making modernization financially viable and operationally efficient. This kind of ecosystem ensures loans are repaid because financing is tied to structured modernization. Critics point out that the DBP and Land Bank’s E-Transport Loan Programs faltered due to the absence of an adaptive model of shared responsibility and a clear revenue capture mechanism. The lesson is clear—credit alone is insufficient; it must be paired with ecosystem support to ensure repayment.

Shift from driver-centric risk to fixed compensation

UNDER traditional paradigms, drivers absorb the daily financial risk of fluctuating fuel prices and traffic delays. Tinga says the COMET model shifts operators to a structured employment structure with fixed salaries, performance incentives, and healthcare benefits. Removing the pressure to chase fares eliminates dangerous driving behaviors, such as aggressive laneweaving and idling indefinitely at major intersections.

Fleet intelligence and route predictability

RATHER than individual, uncoordinated drivers competing on the same route, Tinga says COMET fleets operate under centralized, global positioning system (GPS)tracked fleet management. The system allows dispatchers to monitor route density, regulate vehicle spacing, and maintain predictable departure times regardless of whether every seat is full. “Passengers gain reliable wait times, while cities benefit from reduced congestion at key boarding points,” Tinga says.

Cashless ticketing and operational transparency

TINGA points out that cash handling creates operational friction and revenue leakage. Through integrated digital ticketing (such as the GETPASS app), the COMET platform standardizes fare collection via contactless payments. The system provides real-time financial tracking for fleet operators while offering seamless boarding for daily commuters.

Environmental and maintenance efficiency

BY replacing internal combustion engines with zero-emission electric powertrains, Tinga emphasizes that COMET vehicles eliminate tailpipe emissions and significantly cut operational costs. Electric motors maintain high efficiency in heavy stop-and-go traffic where diesel engines waste fuel. “Furthermore, dedicated fastcharging networks keep the fleet operational throughout peak commute windows without multi-hour delays,” says Tinga. “Transport operators will have huge savings with electric minibusses compared to diesel-powered jeepneys—up to 80 percent depending on fuel prices. The good thing about this is that the savings from running electric minibuses can be directed toward enhanced commuter experience and improved vehicle upkeep. And with lower operating expenses for the operators, they get higher earnings,” Tinga explains. According to Tinga, GET positions itself as more than a transport provider—it is a catalyst for sustainable mobility, fusing planet-first values with profit-withpurpose. With its proven leadership in corporate EV shuttle service, GET is scaling toward mass EV transport by weaving together an ecosystem of vehicles, charging infrastructure, and digital platforms. Anchored in customer experience and powered by tri-sector collaboration, it redefines transport as shared value—delivering cleaner

cities, empowered communities, and competitive partners, all aligned toward its vision of a better tomorrow. Tinga explains public transportation in Metro Manila has long been viewed through the fragmented lenses of its various operators, organizers, and government regulatory agencies. Vehicle owners focus on margins, jeepney operators prioritize meeting daily targets, and tire or vehicle manufacturers market better components. Yet, amid this sprawling ecosystem, one crucial perspective remains consistently overlooked: that of the commuter. The prevailing state of public transit forces many Filipinos to view personal car ownership not as a luxury, but as an act of survival. Because public options are frequently unpredictable, uncomfortable, and inefficient, Tinga points out that commuters aspire to buy private vehicles to escape the daily commute. Ironically, this fuels a vicious cycle—more private cars lead to worse traffic congestion, which in turn degrades public transport performance even further. To break this cycle, the approach to urban mobility must undergo a fundamental shift. Tinga says a functional transport system requires more than just deploying vehicles or building physical terminals. It demands dependable scheduling, clean and well-maintained fleets, clear route communication, and seamless operations. He says a common response to urban gridlock is expanding road networks or encouraging personal vehicle ownership. However, addressing traffic effectively requires getting excess private cars off the road. Public transit should be reliable and dignified enough that commuting becomes the preferred choice over driving.

The Path forward

TINGA says fixing urban transit requires shifting the primary metric of success from operator revenue or vehicle production numbers to commuter satisfaction. By viewing public transportation through the eyes of the daily rider—and delivering a reliable, clean, and customerfocused service—businesses and government institutions can solve one of Metro Manila’s most persistent challenges while building a cleaner, more sustainable future. “Again, we don’t necessarily need more roads. We need fewer cars. That brings us back to the government’s car program. Why are we encouraging car manufacturing? It doesn’t make sense,” Tinga explains.

DTI helps 51 Western Visayas startups take ideas closer to market

HEN provincial startups are given direct access to mentors, tools and market connections, ideas can easily transform into thriving enterprises. For 51 entrepreneurs in Western Visayas, the next step after learning how to build a business is putting those lessons to the test. The entrepreneurs—representing Aklan, Antique, Capiz, Guimaras, Iloilo and Negros Occidental—participated in the 2026 Moonshot Trabaho, Negosyo at Konsyumer (TNK)–Activating Startups in Provinces through Innovation, Resources and Enterprise Development (ASPIRE) Startup Bootcamp Provincial Demo Days held from September 21 to 23. The latest cohort includes 20 teams from Negros Occidental; eight from Iloilo; six each from Aklan, Capiz and Guimaras; and five from Antique.

Organized by the Department of Trade and Industry (DTI) Provincial Offices, the three-day event followed founders to put their concepts in front of mentors, receive constructive feedback, and refine their business strategies as they prepare to enter the market. The pitch sessions marked the culmination of the ASPIRE Startup Bootcamp, a key component of DTI Region VI’s 2026 Moonshot TNK Startup Development Program. Since launching on August 17, participants completed seven modules covering founder leadership, design thinking, customer-centric scaling, artificial intelligence readiness, financial management, intellectual property law, and pitch preparation. DTI Region VI Acting Regional Director Mutya Eusores reminded the cohort that building a successful venture requires persistence and

constant learning. “Great things take time,” Eusores said, encouraging participants to remain resilient as they refine their target markets and value propositions. She added that the true impact of the Demo Days extends far beyond winning awards, offering founders invaluable real-world validation. DTI implemented the program alongside the Department of Science and Technology (DOST) Region VI and local Innovation Hubs (iHUBs), which hosted several pitch sessions and workshops. The collaboration connects startups with state-of-the-art facilities, Technology Business Incubators (TBIs), academic institutions and industry enablers from long-term technical and market support. DOST Region VI Regional Director Engr. Rowen Gelonga urged the graduates to leverage science, tech-

nology and local innovation networks to build scalable businesses. Outstanding teams were recognized with awards for Best Startup Presentation, Most Innovative Solution and Best Market Potential. All qualified participants will continue to have access to government enterprise development programs, incubator networks and investment channels. By nurturing entrepreneurial talent outside major metropolitan centers, the ASPIRE initiative is helping strengthen Western Visayas’ innovation ecosystem and giving regional founders pathways to pursue markets beyond their local communities. Startups and aspiring entrepreneurs in the region are encouraged to reach out to their local DTI Provincial Offices or nearest innovations hub to access available support programs.

Banking&Finance

Wednesday, October 7, 2026 • Editor: Dennis D. Estopace

BusinessMirror

Physicians flag Maifip funds hike ‘politicized, inflationary’ T

By Reine Juvierre Alberto

@reine_alberto

HYSICIANS and members of nongovernment groups are pressing lawmakers to shift funding away from the Medical Assistance for Indigent and Financially Incapacitated Patients (Maifip) and toward the Philippine Health Insurance Corp. (PhilHealth). Healthcare professionals, budget watchdogs and labor groups said at a news briefing last Tuesday they “condemn the inadequate” P74billion budget for PhilHealth next year. Their leaders also criticized Congress’s decision to double the discretionary allocation for Maifip from P24 billion to P49 billion. Dr. Antonio L. Dans, convenor of the Healthcare Professionals Alliance After Covid-19, noted a P170billion funding gap for PhilHealth as the agency requested for a budget next year of P244 billion, which lawmakers slashed by a third. “Hindi na aabot ng Marso [2027] ’yung P74 billion. Kapag naubos na yung bigay ng gobyerno, tayo na ang may pasan noon,” Dans said. [The P74

billion won’t even last until March. Once the government’s funding runs out, we will have to shoulder the burden.] He added that PhilHealth would need P376.7 billion to cover new benefits. The cut comes against the backdrop of Congress doubling the Maifip budget amid calls to abolish the assistance program. According to the Department of Health, the Maifip Program provides medical assistance for a range of medical services, “including but not limited to in-patient services, out-patient services, emergency services, oral/dental services, ambulatory care services, ophthalmology services, drugs and medicines

as approved by the Food and Drug Administration (FDA), and professional fees.” (https://bit.ly/4jEmK87). Furthermore, in accordance with Republic Act 11223 or the Universal Health Care Act, the Maifip program “ensures that all Filipinos have equitable access to quality and affordable health care while providing financial protection,” the health department said. But Dans said Maifip is not only a privilege, its funds are discretionary, politicized, inflationary, not tracked and diverts from PhilHealth, where “everyone is a member of and eligible for its healthcare benefits.” By seeking medical assistance, Dans said the program subjects patients to begging and going to another line to ask for help. “Tens of thousands of Filipinos are arbitrarily denied Maifip. They come to us asking for help, yet we are often powerless because access to these funds depends on the discretion of local executives and legislators,” Emergency Medicine Physician Dr. Jeremy A. Cordero said during the briefing. In the same vein, Social Watch Philippines Co-Convenor Maria Victoria Raquiza posed that if there are enough resources to double the Maifip budget, then government can channel those resources into strengthening the PhilHealth. With the government refusing to sufficiently fund indirect contribu-

tors’ premiums through the national budget, direct contributors are shouldering the costs of healthcare, read a statement the groups issued during the briefing. As such, the group is demanding the immediate release and appropriation of the cumulative P311 billion withheld and unappropriated sin taxes as well as the earmarked funds by the Philippine Amusement and Gaming Corp. (Pagcor) and the Philippine Charity Sweepstakes Office (PCSO). The cumulative amount consists of P133.2 billion in unappropriated sin tax earmarks from 2023 to 2027 and the P85 billion in unappropriated Pagcor and PCSO earmarks under the General Appropriations Act. There is also the P59.1 billion in unallocated sin tax funds and P42.3 billion in unallocated Pagcor/ PCSO funds from previous years, the groups’ leaders pointed out. They also cited the P50 billion in Maifip funds planned for 2027, bringing the total potential funding sources for PhilHealth to P310.5 billion. “Let’s prioritize rights-based [budgeting], not patronage politics. Kapag magkasakit ang isang Pilipino, hindi dapat ang unang tanong ay— sino ang lalapitan ko?,” Raquiza said. [When a Filipino gets sick, the first question should not be, “Who should I turn to for help?”]

PhilHealth says new project to benefit 26M Filipinos

XECUTIVES of the Philippine Health Insurance Corp. (PhilHealth) believes that its primary care program it calls “Yakap” would benefit 26 million students and their families, as well as teaching and non-teaching personnel. Launched last Tuesday, the “Yakap” school health and protection program is expected to expand access to PhilHealth’s initiatives by bringing preventive and primary health services directly to schools and learning centers nationwide. According to documents provided by the state-run health insurer, the program will be rolled out across public and private basic education schools, community learning centers, child development centers, other early childhood care and development centers and facilities and inclusive learning resource centers. Students across all learning levels, school personnel, out-of-school youth and children with special needs will have direct access to services, such as routine health screenings, outpatient medicines and diagnostic tests, as well as on-site specialist care for developmental delays and

THIS October 6, 2026, photo courtesy of the Philippine Health Insurance Corp. (PhilHealth) shows (left to right) Health Secretary Dr. Edwin M. Mercado, Education Secretary Juan Edgardo M. Angara, Interior and Local Government Secretary Juanito Victor C. Remulla Jr. and PhilHealth Acting President and CEO Dr. Beverly Lorraine C. Ho during signing ceremonies for a primary health care program. CREDIT: PHILIPPINE HEALTH INSURANCE CORP.

disabilities, the PhilHealth said in a statement. “This JMC brings to us the opportunity to scale things up— from reaching just a few million students or learners who can benefit from Yakap, we’re targeting all 26 million learners, including the

teachers and non-teaching staff, as well as their families,” PhilHealth President and CEO Beverly Lorraine C. Ho said. Ho was referring to the joint memorandum circular signed by her and the Secretaries of the Department of Health (DOH), Department of

JPMorgan hold spot as the world’s most advanced bank in AI for 5th straight year By Rthvika Suvarna

PMORGAN Chase & Co. held its spot as the world’s most advanced bank in artificial intelligence for a fifth straight year, widening its lead over rivals in an annual ranking that shows AI deployment across the industry is accelerating at a record pace. Capital One Financial Corp. and Royal Bank of Canada retained their second and third places, according to the Evident AI Index that was published on Tuesday. Commonwealth Bank of Australia stayed in fourth position as the only Asia-Pacific lender in the top 10, while UBS Group AG, at sixth place, is the sole European bank in the top leagues. Meanwhile, DBS Group Holdings Ltd., Southeast Asia’s largest bank, ranked 25th, the index showed.

The Evident AI Index seeks to show how global lenders are turning heavy AI spending into results, at a time when banks are facing pressure to justify record tech budgets and concerns brew over whether AI will cost jobs. Lenders that can’t show the technology generates returns risk seeing their AI programs stall, Evident said. “Roles are changing, and some are not being backfilled, but the banks at the top of our Index are growing, and growing headcount,” Alexandra Mousavizadeh, Evident’s co-founder and co-chief executive officer, said in a statement. “This could be the start of the largest net job creation we have seen in decades.” Across the 50 banks assessed, AI capabilities improved almost three times faster over the past year than the average across the previous three

years, the fastest pace since the index began in 2023. The leading banks in AI are using productivity gains to grow their business as well as drive efficiencies, Evident said. An example it cites is Wells Fargo & Co. training AI agents on 15 years of loan decisions so the process can be automated, with underwriters making the final call. Banks are still adding AI talent with a focus on enabling people who use the tool, according to Evident, noting that JPMorgan, Commonwealth Bank of Australia and Royal Bank of Canada are the top hirers. The index scores institutions based on their AI talent, research and patent activity, leadership communications and transparency around AI deployment. Bloomberg

Education and the Department of the Interior and Local Government. She said bringing the “Yakap” services into schools could also help families better understand and appreciate the benefits available under the program. Parents and guardians will be able to participate in school-based orientations and empanelment sessions, while families can assign or update their chosen clinic through the PhilHealth member portal, documents read. The PhilHealth said the interagency partnership is intended to establish a continuum of care, from early detection and preventive services to referral and follow-up treatment, while improving the mechanisms for financing, parental or guardian consent and coordination of health services. The program also places particular emphasis on the early detection and management of developmental delays and disabilities from birth through the school years, in line with the DOH’s healthy learning institutions program, it added. Reine Juvierre S. Alberto

www.businessmirror.com.ph

BIR sees digital system boosting tax collection

HE Bureau of Internal Revenue (BIR) is tightening its grip on delinquent taxpayers through a centralized digital system to keep track of unpaid tax liabilities and improve collection efforts. The BIR said in a statement it can achieve such goal through its “enhanced accounts receivable management system,” or “eARMS,” which would replace the previous ARM system. According to the bureau, the web-based platform centralizes the tracking and management of accounts receivable and delinquent accounts, including records involving the seizure, sale and forfeiture of properties. The BIR further said that the system is intended to improve the accuracy and reliability of records on outstanding tax liabilities and enables its offices to monitor accounts more effectively. For taxpayers with outstanding obligations, the BIR said the eARMs will facilitate verification and settlement of liabilities and processing of tax clearance applications. “Accurate and reliable records are essential to effective revenue collection,” Internal Revenue Com-

missioner Charlito Martin R. Mendoza was quoted as saying in the statement. “Through eARMS, we can better monitor outstanding tax liabilities, take timely collection action, and help taxpayers verify and settle their obligations with less administrative difficulty,” Mendoza added. According to the BIR, the launch of the eARMs is part of the its five-point priority reform agenda, specifically its initiatives on digital and data transformation as well as revenue collection and base protection. Using the reform agenda, the bureau aims to establish an accurate inventory and profile of delinquent accounts, implement appropriate summary remedies and issue clear guidelines on the write-off of confirmed/verified uncollectible accounts. This move, according to the BIR, is in pursuit of appropriate actions in the management of delinquent accounts through the timely and proper execution of summary remedies, with the effectiveness of these measures to be reflected in reduced outstanding balances, higher revenue collections and improved tax compliance. Reine Juvierre S. Alberto

Cesar E.A. Virata “Tell me and I forget. Teach me and I remember. Involve me and I learn.” —Benjamin Franklin

EAN Cesar E.A. Virata was my teacher in Management at the UP Diliman College of Business Administration. The College is now known as the Cesar E.A. Virata School of Business (VSB), a fitting tribute to the former dean, Board of Investments head, Minister of Finance, and the only Prime Minister the country had. He was an exceptional public servant and professional whose love of country is beyond question. When I had my first partnership in public accounting practice, Dean Virata referred to us the representation of a “Big 8” international accounting firm. It was a good global association but brief for it later merged with another similar international accounting firm. I encountered him again when I chaired the Capital Market Development Council (CMDC) in 2003 to 2006 during which time he was representing the Bankers’ Association of the Philippines (BAP). Together with Romy Bernardo, we presented and rationalized before the leaders of the Senate the CMDC legislative agenda to enhance the capital market development of the country. Once I encountered Dean Virata at the entrance of Manila Peninsula

FINEX FREE ENTERPRISE Conchita L. Manabat while both of us were waiting for our cars. I greeted him and he asked me, “Oh Chit, may boyfriend ka na?” I politely replied, “Wala pa po.” In any major event at the VSB, Dean Virata was present. He was there during our reunions. My last encounter with him was during the last planning meeting of the UP Business Research Foundation Inc. (UPBRF) last July 10. He was in a wheelchair; a caregiver beside him stood. All throughout my encounters with him, he was the same professional who was in my Management class and my Dean. Thank you much, Dean Virata. Conchita L. Manabat is an incorporator and the president of the Development Center for Finance, an incorporator and Trustee of San Carlos School of Cebu Inc. and a Trustee at the Coalition of Services of the Elderly. She is also an incorporator of and Lifetime Fellow at Institute of Corporate Directors. She also chairs the Advisory Council of the International Association of Financial Executives Institutes. The views and opinions she expressed herein do not necessarily represent the BusinessMirror.

Govt released ₧17.299B in calamity funds

HE government has released P17.299 billion in calamity funds in the first nine months of the year to finance various relief, recovery and rehabilitation efforts, according to the Department of Budget and Management (DBM). In September alone, the government disbursed a total of P3.281 billion from the National Disaster Risk Reduction and Management Fund (NDRRMF), also known as the calamity fund. This comes after the government disbursed P2.281 billion to the Department of Social Welfare and Development (DSWD) and P1 billion to the Department of Agriculture to replenish their Quick Response Fund (QRF). QRFs are built-in budgetary allocations or stand-by funds for agencies to immediately assist areas affected by catastrophes and crises, as well as to support the

repair and rehabilitation of damaged infrastructure such as roads, bridges and public buildings. When the QRF gets depleted, the first-response agencies may request replenishment with a request to the DBM and to be approved by the Office of the President. About P22.523 billion remains under the P39.822-billion fullyear appropriation for the calamity fund, which agencies can tap for requirements that may arise during the remainder of the year. Of the amount, P6.193 billion sits in the National Disaster Risk Reduction and Management Program, P15.330 billion in the Disaster Rehabilitation and Reconstruction Assistance Program for local government units and P1 billion in the People’s Survival Fund (PSF). There is also an additional P322.857 million in PSF carried over from last year’s continuing

appropriations. The DBM said releases from the calamity fund are driven by actual eligible requirements arising from disasters and other covered events. For 2027, the government proposed P45.67 billion for NDRRMF, 14.68 percent higher than this year’s allocation, to prepare for a wide range of disaster and climate risks, including the impact of El Niño on agriculture, water supply, food security and vulnerable communities. “As one of the world’s most disaster-prone countries, investing in resilience is no longer a choice, but a necessity,” Budget Secretary Kim Robert C. De Leon said. “The proposed FY 2027 budget therefore strengthens the government’s capacity not only to respond to disasters, but more importantly, to prepare for them and reduce their impact on Filipino communities,” he added. Reine Juvierre S. Alberto

www.businessmirror.com.ph • businessmirror.lifestyle@gmail.com

Image BusinessMirror

Editor: Gerard S. Ramos • Wednesday, October 7, 2026

Tips for getting a professional headshot that feels authentic and conveys the image you want G

SINAGLARAWAN PHOTO CONTEST WINS EXCELLENCE AND MERIT HONORS AT 22ND PHILIPPINE QUILL AWARDS

By Dee-Ann Durbin The Associated Press

ETTING author photos made to promote his first book was a meaningful experience for freelance journalist Philip Eil. The professional photographer he hired was friendly and supportive, he said, and he liked watching her work during the several hours they spent together. She shot some close-ups in her studio and then took outdoor images of Eil near the Seekonk River, one of his favorite spots in Providence, Rhode Island. “There was so much emotion wrapped up in publishing this book, which I had worked on for over a decade,” Eil said of the 2024 shoot that helped launch his true-crime book about a doctor who prescribed massive amounts of opioid painkillers. “By the time I took these photos, it was near the end of that process. It was a moment to put my face on the book, and I liked how I looked in a place that I love.” Headshots used on social media profiles, business websites and in other career contexts are like virtual handshakes, often introducing people to potential employers, collaborators or audiences long before an in-person meeting. It’s natural to want to feel good about your appearance in those pictures, but conveying the image you want to project is even more important, said Chris Gillett, a Houston-based photographer who specializes in headshots. “It’s going to be a first impression, and the research on first impressions shows that they’re formed instantly and are sticky,” Gillett, a former attorney, said. Even a millimeter shift in a smile or an eyebrow can change someone’s expression, he said. A smile should look authentic, while confidence is communicated through the eyes. The face should always be the focus; that’s why Gillett prefers classic headshots—which show the head and shoulders— over portraits that feature folded arms or waistlines. “It’s the simplest form of people photography, but it’s endlessly fascinating,” he said. Here are some things to keep in mind when it comes to creating and using headshots:

MAKE SURE YOU’RE RECOGNIZABLE

THERE’S no rule of thumb for how often to update your headshots, Gillett said. Just make sure they still look like you. A noticeable difference between a headshot and how you look in person can erode trust. Heavily edited photos present the same hazard, said Emily Lauro, an area director for Goodwin Recruiting, a New Hampshire-based company that matches job seekers and employers. “Look like you on your best professional day and not a completely different person,” Lauro said. “They’re not meant to be how photogenic you are. They’re meant to be your real likeness and image.”

FIGURE OUT WHAT YOU’RE TRYING TO COMMUNICATE

GILLETT once did headshots for two young lawyers. One wanted to convey that she was tired of being underestimated. The other liked being underestimated because it could throw her opponents

PHOTO BY AUSTIN DISTEL ON UNSPLASH

off guard. “There’s no right answer to how you want to be perceived,” Gillett said. “The only wrong answer is leaving it up to chance.” Your headshot should also align with your profession. A startup founder may want a photo that emphasizes innovation and energy, while a financial adviser may want to convey trustworthiness and reliability.

KNOW WHEN AND WHERE TO SHARE HEADSHOTS

IT’S generally not a good idea to put a headshot on your resume, said Jenny Battershell, the director of marketing for Goodwin Recruiting. Resume designs should be simple and straightforward, she said. Photos can confuse automated resume-tracking systems, which are designed to scan text. Including a photo on a resume could also have unintended consequences. Battershell said Goodwin Recruiting works with employers to get them to recognize and overcome biases, but they can exist. She remembers one client who had a successful first interview by phone but was rejected when the employer saw the client’s unusual hair color during a second-round video interview. Lauro said the absence of a photo or a less-thanstellar one on a LinkedIn page wouldn’t deter her from working with a qualified job candidate. “If someone is open to work and they don’t have a photo and their qualifications line up with the job, I’m reaching out to them anyway,” she said. “Some people are more social media savvy than others.”

CONSIDER THE PROS AND CONS OF AI-GENERATED HEADSHOTS

ARTIFICIAL intelligence has made it easier and cheaper to obtain a headshot. ChatGPT can turn a selfie into a headshot with a few prompts. The website HeadshotPro uses AI to turn a few selfies into 30 headshots for $29. By comparison, Gillett charges $290 per sitting plus $295 for each headshot you pick. AI-generated headshots may suffice for people who are short on time or money, but Gillett thinks the confidence that comes from learning to hold yourself in front of a camera is invaluable. “I can make you look like the best version of yourself possible, but only you can make you better,” he said. Headshots created with the help of AI may raise other issues. They can look heavily edited and unrealistic, Lauro said. You want a potential employer to focus on your experience and qualifications, not on whether your photo is authentic. Eil said using an AI headshot would have robbed him of the experience of working with the local photographer who knew how to bring out his personality in her work. If cost is an issue, he suggested looking for a photography student or even a friend who might be willing to shoot some headshots. Professional headshots are also sometimes offered as a free perk at conferences. “The AI thing just bums me out,” Eil said. “AI headshots tend to look uncanny and unnatural. Even if it was photorealistic, I wouldn’t have those warm memories of that day and this thing we produced together.”

SINAGLARAWAN Photo Contest, a national platform that empowers and inspires photographers to capture the Filipino experience with insight, authenticity and exceptional creativity, was honored at the recent 22nd Philippine Quill Awards ceremony for three awards categories. SinagLarawan 2025 Photo Contest Isa sa Isla received the Merit Award for the Communication Management Community Relations category, while its Isa sa Isla Awarding Ceremony and Exhibit won the Merit Award for the Communication Skills Special and Experiential Events category. Meanwhile, the program’s 2024 Photobook was honored with the Excellence Award for Communication Skills Publications category. SinagLarawan Photo Contest is a Community Investment initiative of JTI Philippines, with Buensalido Public Relations and Communications managing the competition program, activities and creative output. Highlighting photography as an art form, SinagLarawan recognizes the caliber and creativity of Filipino photographers in documenting history and preserving the different aspects of our culture. The competition also focuses on themes that underline the traits and traditions that shape the Filipino identity.

SINAGLARAWAN Photo Contest won the Excellence Award for its 2024 Photobook which carried the theme Salinlikha Salindiwa. Present at the 22nd Philippine Quill Awards ceremony were (from left) Buensalido Public Relations and Communications VP for business development and operations Monique Buensalido, creative director Trisha Macas-Joyas, JTI Philippines corporate communications and public affairs director Richard Arboleda, JTI Philippines corporate affairs and communications director Shaiful Bahari Mahpar, JTI Philippines community investment manager Faith Mondejar, Buensalido Public Relations and Communications chief of creatives and operations Guia Santiago, and account director Javelyn Ramos.

Conversations on AI, creativity, and responsibility tackled in student town hall ARTIFICIAL intelligence (AI) should amplify—not replace—human potential. This was the central theme of “Prompted: Conversations on AI, Creativity and Responsibility”, a hybrid forum which brought together students, faculty, and academic leaders in a thoughtful discourse on how AI shapes education, artistry, and the future of work. Organized by the Center of Educational Technology Learning Environment Unit (CET-LEU) of the De La Salle-College of Saint Benilde (DLSCSB), the town hall provided a platform for reflection on the ethical and social implications of AI. It likewise served as a safe space where diverse perspectives were respectfully discussed through open and inclusive dialogues. “Inspired by the dual meaning of the word ‘prompted,’ the event explored not only AI prompts as technological inputs, but also the human experiences, values and questions which prompt reflection, creativity and responsible action,” CETLEU head Jenina Perez explained.

DE LA SALLE-COLLEGE of Saint Benilde (DLS-CSB) Chancellor Benhur Ong, MBA, emphasized the college’s vision of preparing students to embrace AI while remaining grounded in human dignity, creativity, integrity, and Lasallian values.

“Through panel discussions, an open forum, and interactive audience polls, it affirmed Benilde’s commitment to a human-centered approach to AI, where innovation is guided by the common good,” she added. In his speech, Benilde chancellor Benhur Ong, MBA, emphasized the college’s vision of preparing students to embrace AI while remaining grounded in human dignity, creativity, integrity, and Lasallian values. He likewise challenged the community to ensure that innovation and values advance together rather than compete. A roundtable discussion featured a diverse panel of students, teachers and academic leaders. It was headlined by writer and designer Erika Garalde and visual artist Jeryc Garcia from the faculty of the School of New Media Arts, concept artist and educator Noel Flores of the School of Arts, Culture and Performance, and Center for Campus Exhibitions director and Benilde Open Design + Art executive director and

founding convenor Geraldine Araneta. Completing the lineup were National Service Training Program coordinator and Center for Student Life faculty April Alianza, Center for Restorative Discipline deputy officer Jeffrey Carse, and Benildean Student Government Office of the vice president for operations, finance andexternal affairs officer in charge and music production student Angel Paulin Soriano. The panelists championed human dignity and authenticity in the creative field, and highlighted how AI should assist—instead of replace—the human craft in terms of execution and mechanics. They likewise underscored the role of the artist and author to place even greater importance on vision, meaning, storytelling, and lived experience—qualities which remain uniquely human. As the conversations engaged in the intertwining of human ingenuity and AI capability, the speakers reiterated how users should continue to pioneer standards of reliability which honor

both creative human ownership and meaningful technological collaboration, and stressed that responsible AI use requires disclosure, transparency and accountability. “AI represents not simply another technology, but a revolution that higher education must actively respond to,” CET director Rogelio del Cano explained. “Benilde’s responsibility is to prepare students not just to survive but to thrive in an AI-driven world.” The forum underscored AI should be integrated intentionally into education by strengthening foundational skills before leveraging it as a learning partner. Students, after all, need discernment and not only technical proficiency. “The town hall reflected Benilde’s commitment to listening to students and shaping AI initiatives through open dialogue rather than one-way instruction,” del Cano concluded. “Educators, students, artists and institutions must collectively shape an ethical AI future.”

Wednesday, October 7, 2026

ASEAN SEDP Elevate showcases 2 ASEAN social enterprises at MSME Summit, ASEAN Inclusive Business Forum 2026

he ASEAN Foundation, in partnership with SAP, supported two social enterprises from the ASEAN Social Enterprise Development Program (ASEAN SEDP) Elevate to participate in the ASEAN Inclusive Business Forum and MSME Summit, which took place on September 21 and 22, 2026 in Manila. MAGWAI, a Filipino-founded sustainable personal care enterprise, and Real Bean Coffee, a coffee enterprise that improves farmers’ livelihoods, were selected in recognition of their progress during the ASEAN SEDP Elevate mentorship, along with their potential to scale their community-rooted solutions for sustainable growth. Their participation will provide opportunities to showcase their products and connect with investors, partners, and regional markets. The selection reflects the program’s focus on helping social enterprises translate their local impact into opportunities for wider growth. “ASEAN SEDP is part of our commitment to fostering a more connected and inclusive ASEAN ecosystem where social enterprises can collaborate and access opportunities beyond their home markets. Through ASEAN SEDP Elevate, we continue to create pathways for social enterprises to grow and expand their impact across the region,” said Dr. Piti Srisangnam, Executive Director of the ASEAN Foundation. Launched this year as a continuation of the ASEAN SEDP, ASEAN SEDP Elevate connects 17 ASEAN SEDP alumni from 10 ASEAN Member States with experts to address specific business goals and prepare for sustainable growth. Following a needs assessment, participants accessed one of five tailored tracks: Market Access, Investment Readiness, Social Impact,

In the photo are, from left, Yasushi Masaki, Deputy Secretary-General, OECD; Dr. Piti Srisangnam, Executive Director, ASEAN Foundation; Margaux Salcedo, Undersecretary, Department of Budget and Management and Moderator; and Shombi Sharp, Deputy Executive Secretary, United Nations ESCAP. AI, or Custom. Support included one-onone mentorship, business matchmaking with investors and strategic partners, and SAP Masterclasses on applying AI to market access, investment readiness, and social impact measurement. Moreover, through its partnership with the ASEAN Foundation, SAP is helping social entrepreneurs build the digital capabilities and confidence to apply technology to real business challenges and create lasting impact. As a global leader in enterprise applications and business AI, SAP will lead the Masterclasses that anchor the program, equipping alumni with practical AI capabilities and tools to address challenges in market access, investment readiness, and social impact measurement. “At SAP, we believe meaningful digital transformation begins when people have the skills and confidence to apply technology to real-world challenges. That belief is at the heart of our partnership with the ASEAN Foundation through ASEAN SEDP Elevate. We are not simply providing access to AI tools, we are investing in the entrepreneurs and innovators who are driving positive change in their communities. By equipping social enterprises with practical digital and AI capabilities, we are helping build a more resilient, inclusive, and future-ready economy across Southeast Asia,” said Liher Urbizu,

President and Managing Director, SAP Southeast Asia. ASEAN SEDP Elevate builds on the fouryear track record of ASEAN SEDP, which has supported 401 social entrepreneurs from 100 social enterprises across 10 ASEAN Member States, collectively reaching 6,241,157 people through their solutions. The program has also advanced inclusion, with 83 percent of participating enterprises led by women, while 17 employ persons with disabilities (PWDs), including seven PWD-led enterprises. More than 65 percent of alumni credit the program with sharpening their strategic leadership, while over half report revenue and profit gains ranging from five to 194 percent. The program’s positive impact is also reflected in MAGWAI’s journey, an ASEAN SEDP alumni selected to participate in ASEAN SEDP Elevate and the ASEAN Inclusive Business Forum 2026. “ASEAN SEDP Elevate has strengthened our strategy for growth through valuable mentorship and new connections. We hope to build on these lessons to expand our reach, deepen our impact, and create lasting value for the communities we serve,” said Czarina Carbonel, Co-Founder & CEO of MAGWAI. As ASEAN Chair for 2026, the Philippines hosted the forum as an opportunity to strengthen connections between the region’s social enterprises, governments, businesses, and investors, while showcasing communitydriven solutions from across ASEAN. “As the ASEAN Chair for 2026, the Philippines is proud to once again welcome ASEAN’s social enterprise community. Social enterprises and MSMEs are the backbone of our economy, and they are the ones that grow our communities and uplift Filipino families. Hosting them from across the region at the ASEAN Inclusive Business Forum gives our government, businesses, and investors a direct window into the innovative, community-driven solutions being developed throughout Southeast Asia. In line with President Marcos Jr.’s Bagong Pilipinas agenda, the DTI is committed to supporting platforms like ASEAN SEDP Elevate that open doors for our social entrepreneurs to access new markets, partnerships, and investment,” said Department of Trade and Industry - Bureau of SME Development (DTIBSMED) OIC Director Faye L. Solina

DailyFix Power Run returns bigger, stronger for 2027’s most-awaited run

FTER bringing 5,000 runners together for its inaugural race, DailyFix Power Run returns to the SM Mall of Asia Complex on January 10, 2027, in partnership with RunRio, with a bigger ambition: to make the first major run of the year an annual tradition for Filipinos. With 16K, 10K, 5K, 3K and 1K Dog categories, DailyFix Power Run 2027 gives every runner a reason to show up and go further. For this event, the new 16K category raises the bar for serious runners, offering a longer and tougher challenge for those ready to test their endurance and push their limits. The 10K, 5K and 3K categories continue to welcome seasoned runners, first-timers and those getting back into fitness, while the 1K Dog category gives fur parents a fun way to get active with their four-legged companions. Whatever the distance, there’s a fresh goal, a community to run with and more reasons to choose an active lifestyle. The ambition builds on the strong response to the first DailyFix Power Run in January 2026, which received positive

feedback for its organized execution, welcoming atmosphere and ability to cater to runners at every stage of their fitness journey. For some participants, the race was less about speed and more about taking the first step. One first-time participant and self-described non-runner shared that they joined “mostly for fun and to try something new, with zero expectations,” but left feeling proud and motivated to do it again. Whether you’re stepping up your fitness routine or ready to take on a more serious challenge, DailyFix Power Run 2027 raises the bar with its new 16K category, the biggest challenge yet for runners looking to test their endurance, push their limits, and go the distance.The addition gives more serious runners a reason to step up, while the more accessible categories continue to welcome participants with different goals and fitness levels. The inaugural race’s inclusive spirit was echoed by participants like Kristine Dela Cruz, who called it a “must-wait” and a “must-join” run next year. With the addition of the 16K and more ways to participate, DailyFix Power Run 2027 makes room for more Filipinos to move, challenge themselves and be part of a growing running community. 16K — the new challenge for serious runners ready to push their endurance 10K — for runners taking on a longer-distance challenge 5K — for building consistency or pursuing a new personal goal 3K — for those taking their first steps into organized running 1K Dog — for fur parents who want to run with their four-legged companions For DailyFix, wellness is about making better choices that fit naturally into everyday life. DailyFix Granola and Trail mix can be part of that routine, whether enjoyed as a wholesome breakfast, paired with fruits or protein-rich foods like yogurt, or taken as a convenient snack around an active day. DailyFix offers a variety of flavors across its Granola and Trail Mix selections. Its Granola range

includes Strawberry & Yogurt, Berry Special, Very Nutty and Dark Choco Decadence, while the Trail Mix range features Nutty & Nice, Cranberry Yogurt Delight, Almond & Dark Chocolate Deluxe, Pecan & Cashew, and Choco Hazelnut Heaven. Through Power Run, the brand brings that everyday role into a larger conversation around movement, active living and community. “Last year’s DailyFix Power Run showed us how ready Filipinos are to move, challenge themselves and celebrate milestones together,” said Abigail Ng-Reyes, Fly Ace Corporation VP for Marketing. “The success of our first Power Run from the 5,000 registrants to the overwhelmingly positive response from the community– gave us the confidence to come back bigger. This year, we want to build on that momentum and make DailyFix Power Run the first big and most exciting running experience that people look forward to at the start of every year.” Ng-Reyes added, “Now, more people are prioritizing consistency over intensity. Whether that means chasing a new personal best, getting back into a routine, or simply deciding that today is the day you finally start, it’s about more movement, more energy, more milestones and, of course, more moments worth celebrating. You don’t have to be a seasoned runner to be part of it. Sometimes, all it takes is showing up, taking that first step and seeing where it takes you.” The partnership with RunRio further strengthens the DailyFix Power Run experience, combining DailyFix’s active-lifestyle platform with RunRio’s expertise in organizing professional running events and building communities around the sport. Register for DailyFix Power Run 2027 is now open. Runners can register through Race Roster and choose from the available race categories. For updates and announcements, follow DailyFix’s official social media channels.

PhilHealth, private insurers build on YAKAP to maximize primary care coverage

HE Philippine Health Insurance Corporation (PhilHealth) and major health maintenance organizations (HMOs) and private health insurers (PHIs) have joined hands to make primary healthcare more affordable and accessible for Filipinos. PhilHealth, together with Maxicare Healthcare Corporation, MediCard Philippines, Inc., PhilhealthCare, Inc., Health Plan Philippines, Inc., United Coconut Planters Life Assurance Corporation, Asalus Corporation (Intellicare), Medicare Plus, Inc., Avega Managed Care, Inc., Cooperative Health Management Federation, Pacific Cross Health Care, Inc., Insular Health Care, Inc. (iCare), The Manufacturers Life Insurance Co. (Phils.), and InLife Benefits Insurance Company, Inc. sealed a Memorandum of Understanding (MOU) establishing the PhilHealth YAKAP – HMO/PHI Benefit Complementation initiative in support of the Universal Health Care (UHC) law. Under the MOU, PhilHealth will serve as the initial source of coverage for primary care services through its Yaman ng Kalusugan Program (YAKAP), while private insurers complement this coverage by providing additional benefits. “With PhilHealth YAKAP as the first layer of protection, our private partners can focus their benefits on what lies beyond the program package. That way, every Filipino gets more care for every peso,” said PhilHealth Acting President and CEO Dr. Beverly Lorraine C. Ho. “Together, we can establish a system that builds a healthier, more productive Philippines– where quality healthcare empowers every Filipino to drive the nation forward,” PhilHealth Board Member and Finance Secretary Frederick D. Go said.

As the secondary payers, HMOs and PHIs can cover costs that exceed PhilHealth benefit limits or fall outside primary care coverage, such as specialized procedures, branded medications, or hospital room upgrades. YAKAP covers consultations, 13 laboratory tests, selected outpatient medicines under the GAMOT package, and outpatient services for six cancer screening tests. Under the PhilHealth primary care program, specialized outpatient benefits such as animal bite treatment, maternal care, Tuberculosis DOTS, HIV/ AIDS management, and mental health services are also included, as applicable. The direct integration of PhilHealth YAKAP with private insurance policies establishes a more seamless healthcare system to prevent duplicate payment and effectively lower patients’ outof-pocket costs of shared beneficiaries. PhilHealth urges all members and policyholders to register for PhilHealth YAKAP via the eGovPH app, PhilHealth Member Portal, or nearest PhilHealth office to instantly maximize their primary care coverage alongside their private HMO benefits. Additionally, PhilHealth invites other HMOs and private health insurers to join this complementation network to expand financial protection and deliver seamless, affordable primary healthcare to every Filipino family nationwide. For official announcements, program updates, and participating provider lists, members may call PhilHealth 24/7 Corporate Action Center (02) 8662‑2588 or visit www.philhealth. gov.ph, or follow PhilHealth’s verified social media channels on Facebook (@PhilHealthofficial) and X (@teamphilhealth)

Save Philippine Seas, Mondelēz International host first-ever Marine Litter Learning Workshop for media

AVE Philippine Seas (SPS) and Mondelēz International in the Philippines recently held the first-ever Marine Litter Learning Workshop for Media. This was an exclusive, hands-on session designed to equip journalists and media practitioners with a deeper understanding of the country’s waste management challenge and the science-backed solutions being developed to address it. Held at Catering Trio in Pasig City, the three-hour workshop brought together members of the press to experience the same interactive learning modules that have trained community leaders, educators, and youth advocates across the Philippines. Participants went through two key activities: “Understanding Recycling,” which teaches the science behind resin codes and which plastics are actually recyclable in the Philippine context, and “Sink or Swim?” an immersive experience that traces how a single piece of improperly disposed waste travels from a street corner, through esteros and drainage systems, and into Philippine seas. A special session on environmental reporting, facilitated by FYT Media, provided journalists with tools and frameworks for more effective and accurate environmental storytelling. The workshop was born out of a recognition that media plays a critical role in shaping public understanding of environmental issues, and that the waste management conversation in the Philippines needs greater nuance. “The stories we tell about waste shape how Filipinos understand and respond to the problem. When media gets the science right — when they go beyond the surface and explain why waste ends up in our seas — they don’t just inform. They empower millions of consumers to act. This workshop is our way of partnering with the press to make that happen. Because the more accurately we tell the story, the faster we can change the culture of waste management,” Anna Oposa, Executive Director and Co-Founder, Save Philippine Seas, said. Save Philippine Seas (SPS), co-founded by Oposa in 2011, has grown from a social media campaign into one of the Philippines’ leading marine conservation organizations. SPS bridges the gap between scientists and the public, mobilizing communities toward collective action and behavior change for ocean conservation. The organization developed the Marine Litter Learning Kit, a suite of hands-on educational modules now being deployed in communities nationwide. The goal of the workshop is to help consumers, through the media, to be more informed about the issue of plastic waste management. Often pointed to as the reason for flooding and is the subject of proposed taxation by the government, the protective role of plastic is also explored in the workshop. Known for providing protection, especially for

items such as food, plastic is only one material in the total chain of packaging in the Philippines. What is made evident in conversations such as the workshop is that waste, regardless of its composition, will end up in oceans and esteros if not properly managed. The proposal to impose taxes on plastic products, including sachets was also explored during the workshop. Mondelēz International provided science-based scenarios which show which environmental initiatives, other than taxation, can help the Philippines manage its waste management problem. The workshop is the latest in a series of initiatives in partnership with snacks company Mondelēz International to help address waste management in the Philippines through a combination of policy support, community education, and on-the-ground collection efforts. Mondelēz International actively supports the Extended Producer Responsibility (EPR) Act and was recognized by the Department of Environment and Natural Resources (DENR) in 2026 for its efforts in collecting and diverting the plastic packaging used across its products. Through its “Trash Right” program, the company invests in information and education campaigns including the Miming and Friends animated YouTube series and partnerships with SPS on hands-on learning workshops. The aim of these initiatives is to help Filipino communities manage waste responsibly. These efforts are complemented by the company’s community-based plastic collection initiatives. “At Mondelēz International, we believe that tackling the waste management challenge requires action on every front, from supporting legislation like the EPR Act, to collecting plastics in communities, to making sure Filipino consumers have the right information to make better choices. Bringing this workshop to media is a natural next step. Journalists are among the most powerful multipliers we have. When they understand the full picture — the science, the systems, the solutions — they can help us reach and empower millions more,” said Caitlin Punzalan, Corporate & Government Affairs Lead, Mondelēz International in the Philippines.

How Absolute Distilled Water gathered families for a day of heartfelt connections

E know that looking after our families goes far deeper than just checking off a daily to-do list. True protection is about the quiet, caring ways we build a home, making sure our children feel safe, deeply loved, and supported every single day. At the recent Family Welfare Event, Absolute Distilled Water reminded us of what it truly means to be a partner in this journey, bringing families together in a warm, welcoming space centered around total household care. In celebration of Family Month,

Absolute gathered families for a day filled with laughter, learning, and meaningful bonding. Brand ambassadors Dennis Trillo and Jennylyn Mercado, known as “DenJen,” also shared heartfelt experiences about being loving parents to their three children, Calix Ho, Jazz, and Dylan. One of the most touching parts of the day was hearing from Dr. Katrina Florcruz, a board-certified pediatrician who spoke about the essential role of health and wellness in the home. “Let’s normalize seeking help from

a healthcare professional about your family’s overall health and wellness.” Dr. Florcruz reminded attendees that choosing the right water for the family is an important part of supporting overall well-being. Because Absolute undergoes a thorough distillation process to ensure purity and quality, it offers families peace of mind. Parents can feel confident about what they are pouring into their family’s cups. Let’s be honest: Modern parenting can feel overwhelming at times. That’s why it was comforting to hear Family Psychologist Dr. Gail Galang talk about the importance of

holding space for the nurturers. Raising a happy home takes a village, and we all thrive when we have a supportive, judgment-free community to lean on. “When we support the nurturer, we strengthen the whole family.” Navigating parenthood, and even caring for a loved one, requires steady anchors. Absolute acts as a trusted partner in daily routines, taking the guesswork out of hydration so families can direct their hearts and energy where they matter most: enjoying those precious, joyful

moments with their loved ones. A truly moving highlight of the event was seeing Absolute continue its tradition of giving back. The brand awarded meaningful donations to Autism Society Philippines and Kangaroo Mother Care, helping ensure that these communities receive the care, support, and clean water they deserve. It was a beautiful reminder that when we care for one family, we help lift the whole community. To wrap up the day, Dennis and Jennylyn spoke from the heart about

how their own family values align with Absolute’s mission. “We have always believed in what the Absolute brand stands for—nurturing the lives of every Filipino family.” Protecting our loved ones isn’t just a duty; it’s an act of pure, unselfish love that grows stronger when we support one another. As families packed up and headed home, their hearts—and water bottles— were full. Absolute showed us once again that when it comes to family, pure love is the greatest protection of all.

BusinessMirror

Editor: Tet Andolong

Wednesday, October 7, 2026 B7

CELEBRATING THREE DECADES OF ARCHITECTURAL AND DESIGN EXCELLENCE IN THE PHILIPPINES

By Rizal Raoul S. Reyes

DESIGNED by Goudie Philippines— the renovated lobby of Four/ NEO (formerly Net Quad) in Bonifacio Global City, Taguig, features a biophilic accent wall: a massive vertical installation of multi-toned preserved moss that brings a striking touch of nature into the workspace.

@brownindio

HIRTY years ago, Goudie Associates (GA) Philippines set out to redefine how the country builds, works, and gathers. Three decades on, it stands as the quiet force behind the Philippines’s most striking workplaces, commercial hubs, and architectural destinations. Reaching this milestone is less about looking back at thirty years of craftsmanship, and more about the relentless standard of excellence that keeps the nation’s most discerning organizations turning to Goudie to shape their vision into physical reality. “With workplace design as a benchmark for the success of our portfolio, GA has also built a strong reputation for delivering design solutions for landmark retail and hospitality projects. These achievements are a reflection of our integrity in the market, our long‐standing client relationships, and the discipline of our team in consistently delivering high‐quality design services,” said GA chief executive officer Marie Ann Chee, an interior designer by training. Chee says GA’s portfolio represents not only its creative capabilities but also its commitment to professionalism, reliability, and excellence. Sheryl Pura, managing director-design says GA develops design solutions that are flexible, practical, and responsive to their clients’ needs. “Our approach provides clients with well‐considered options that maximize the use and potential of their spaces while main-

taining functionality, efficiency, and design quality,” says Pura. Jojo Catipon, director, client services, says Goudie has achieved a reported 80 percent client retention rate and has worked with many global brands. Over the past three decades, Goudie has worked on some of the Philippines’s most recognizable workplaces, hotels, financial institutions, and commercial spaces. “We have built a strong portfolio of workplace projects, with approximately 80 percent coming from repeat or returning clients. While we respect the confidentiality of our clients and projects, we take pride in the long‐standing relationships we have established,” said Catipon. Chee said the company’s continued engagement with these clients allows them to provide diversified design services while embracing new technologies, evolving workplace concepts, and innovative solutions—without losing sight of our core design philosophy and commitment to quality. Pura says Goudie develops design solutions that are flexible, practical, and responsive to

FROM left: Ar. Sheryl Pura— Managing Director, Design | John Goudie—Principal, Goudie Associates | Ar. Carlos De Castro—President | IDr. Mary Ann Chee-Ng—CEO | Ar. Divine San Agustin—Managing Director, Build | Jojo Caitpon—Director for Client Relations PHOTO COURTESY OF GOUDIE PHILIPPINES

our clients’ needs. “Our approach provides clients with well‐considered options that maximize the use and potential of their spaces while maintaining functionality, efficiency, and design quality,” says Pura. As a global practice with more than 40 years of experience, Chee says Goudie has built lasting relationships with clients across different markets and regions. The confidence placed in us is reflected in our ability to consistently deliver projects for reputable brands and or-

ganizations. Catipon says Goudie’s growth has been driven not only by repeat clients but also by referrals and recommendations within the industry. He points out this trust is a testament to our experience,professionalism, and consistent commitment to delivering quality design solutions across markets. For the next 10 years, Chee says the company expects significant changes in the design industry, particularly with the continued ad-

vancement of AI and emerging technologies. “While these tools will transform the way we design and deliver projects, our personal dedication and commitment to our clients will remain at the core of our practice. We believe that the combination of human experience, creativity, and technology will become a catalyst for achieving more innovative, efficient, and optimal design solutions and deliverables,” Chee points out. Founded in Hong Kong in 1983, Goudie spent a decade perfecting its design-build craft across the Asia-Pacific region before establishing its Manila presence. Today, with offices spanning Singapore, China, and the Philippines, the firm operates as one of the region’s most respected full-service interior design and fitout consultancies—translating complex corporate briefs into environments that perform as powerfully as they look. At the heart of Goudie is a team of 50+ licensed professionals—architects, interior designers, project managers, and construction specialists—drawn from multicultural backgrounds across Asia and beyond. Their collective expertise spans workplace design, hospitality, retail, BPO, banking, and construction management, enabling the firm to deliver integrated, end-to-end design-build solutions with both global sensibility and deep local intelligence. Across decades and the breadth of the Asia Pacific, Goudie Associates has built one of the region’s most compelling interior design portfolios. The firm has engineered precision trading floors and sophisticated private banking suites for UBS, Goldman Sachs, JPMorgan, HSBC, BPI, American Express, and DBS Private Bank.

Aboitiz Economic Estates strengthens West Cebu’s industrial ecosystem New partnership brings Pilmico to West Cebu Estate, expanding the region’s manufacturing capacity while leveraging integrated infrastructure and Aboitiz Group synergies to support long-term business and regional growth

FROM leftt: Engr. Xerxes Delgado – CPG Head of Project Development and Technical Operations Division, Arch. Bernard Artates– CPG Head of Design and Innovation Group, Jennifer dela Cruz–CPG SVP for Corporate Growth Strategy, San Francisco, General Trias Barangay Chairman, Kap. Ryan T. Santor, Julienne M. Cruz–CPG Vice President Corporate Communications and Marketing, and Engr. Lauro Reyes–CPG Head of Construction Management during the official launch of Cerulean Residences in General Trias, Cavite.

Century Properties introduces 25-hectare horizontal living in Cavite with Cerulean Residences

By Vincent Peter Rivera

FTER years of building its brand around urban vertical towers, Century Properties Group (CPG) officially opened the show village for Cerulean Residences, its new horizontal development in General Trias, Cavite, on September 12, 2026. The launch offered a glimpse of the 1,100-house master-planned community set across 25 hectares, together with the unveiling of model homes distinguished by contemporary asymmetrical roofs and minimalist interiors. Backed by a capital expenditure (capex) of P5.6 billion, the two-storey homes come complete with a perimeter fence, a gate, and a two-car garage equipped with an EV charger provision. These are complemented by extensive amenities, including active spaces for sports and fitness, meditative green areas, and immersive water features. Designed by Singapore-based Pomeroy Studio, the architectural firm behind CPG’s iconic Azure and Acqua projects, Cerulean Residences translates the developer’s signature beach-inspired theme from amenity-heavy towers into a suburban setting. “Filipinos love anything water; it brings people together,” CPG Vice President for Corporate Communications and Marketing Julienne M. Cruz told the Busi ness M irror and other media outlets during an exclusive interview. “It reminds us of the beach and nature—a place where children can play and adults can relax.” Cruz described the development as a beach-inspired, active-living community designed to foster connection. Located in Barangay San Francisco along Arnaldo Highway, the project enjoys close proximity to major

thoroughfares, including Governor's Drive, Aguinaldo Highway, and the Cavite-Laguna Expressway (CALAX).

A new offering outside the Metro

RENOWNED for high-end luxury properties like Azure and Acqua, as well as its affordable housing arm, PHirst Park Homes, CPG is carving out a new path with Cerulean Residences by targeting the premium horizontal segment. This horizontal venture aims to unlock new opportunities outside Metro Manila. “We’re offering another option for families who are ready to transition from a condo to a house and lot, or for young couples and millennials starting a family who need more space,” Cruz explained.She added that the development is a direct response to the broader market trend of work, real estate, and economic activity decentralizing from the National Capital Region (NCR) and shifting toward provincial hubs. To support the residential enclave, CPG is also developing Century Lifepark, a commercial strip located just outside the village gates. It will provide retail options and daily essentials for both residents and the surrounding General Trias market. Despite its premium amenities, CPG is positioning the project as a realistic upgrade for growing families. “'Move Up, Live Better’ is what four decades of building has taught us families are actually asking for,” said CPG Managing Director Carlo Antonio. “They want something better than what they have, in a community they can be proud of, without stretching beyond what makes sense for them. It is aspirational yet attainable.” Phase 1 of Cerulean Residences is projected for completion by 2030.

ALAMBAN, CEBU, Philippines, 2 October 2026— Aboitiz Economic Estates is strengthening West Cebu Estate’s position as an integrated industrial and economic ecosystem with the entry of Pilmico, an Aboitiz Foods company, as its newest locator. Formalized through a ceremonial signing, the partnership will bring Aboitiz Foods’ planned feedmill to the estate and further diversify the industries contributing to Cebu’s growing economic base. The first phase of the new feedmill is expected to deliver significant additional production capacity when operations begin in 2028. The investment will strengthen Pilmico’s feeds manufacturing and supply capabilities across the Visayas and Mindanao and add a major food and agribusiness operation to West Cebu Estate’s growing industrial base. For Aboitiz Economic Estates, the partnership demonstrates the value of an industry-anchored economic estate that goes beyond providing industrial land. Through integrated infrastructure, reliable utilities, strategic location, and access to the broader Aboitiz Group ecosystem, West Cebu Estate provides businesses with an operating environment designed to support long-term competitiveness and growth. “Welcoming Aboitiz Foods to West Cebu Estate is a significant milestone for the estate and a strong demonstration of the value we aim to create for our locators,” said Clifford Academia, Vice President and Head of the Industrial Commercial Business Unit at Aboitiz Economic Estates and Aboitiz Land. “Pilmico’s new feedmill in Cebu shows how an integrated economic ecosystem can help businesses translate their growth strategies into actual operating capacity. At the same time, the investment strengthens the industrial base of West Cebu Estate and creates opportunities for broader economic activity in the region.”

A strategic platform for industrial growth

LOCATED in Balamban, Cebu, West Cebu Estate is a 540-hectare Peza-registered industrial estate anchored by the country’s shipbuilding industry. It currently hosts 14 locators and has generated over 14,000 jobs, with its latest development phase opening additional opportunities for industrial, commercial, residential, and community development. The entry of Aboitiz Foods further diversifies the estate’s industrial base by bringing food and agribusiness manufacturing alongside its established shipbuilding and logistics activities. This supports Aboitiz Economic Estates’ approach to building resilient economic ecosystems where industries, businesses, infrastructure, services, and communities can reinforce one another. “An economic estate should do more than solve for location. It should help businesses address the practical requirements of operating, growing, and remain-

From left: Aboitiz Economic Estates Assistant Vice President for Industrial Sales Nico de Leon, Aboitiz Economic Estates Vice President and Head of Industrial and Commercial Business Units Clifford M. Academia, Aboitiz Foods First Vice President and Country Director for Agribusiness-Philippines Norie Bermudez, and Aboitiz Foods Business Development Manager Johnir Espina

ing competitive,” Academia said. “West Cebu Estate is being developed with that broader objective in mind, giving our locators access to the infrastructure, utilities, services, and ecosystem capabilities they need to succeed over the long term.”

Enabling Aboitiz Foods’ VisMin growth

FOR Aboitiz Foods, the new feedmill represents a strategic investment to strengthen its manufacturing footprint and provide additional capacity closer to customers in the Visayas. The company already operates a feedmill in Iligan, which currently serves customers across Visayas and Mindanao. With the addition of the Cebu feedmill, Aboitiz Foods will be able to build greater flexibility into its manufacturing network, while enabling its Iligan facility to optimize its capacity for Mindanao and improve the efficiency and responsiveness of the company’s overall supply network. The investment forms part of Aboitiz Foods’ longterm commitment to growing alongside its customers and strengthening its ability to serve key markets across its Philippine operations. “This new facility is an important step in strengthening our ability to serve customers across the Visayas and Mindanao over the long term,” said Norie Bermudez, First Vice President and Country Director for Agribusiness-Philippines, Aboitiz Foods. “West Cebu Estate provides us with a strategic location and an operating environment that can support the scale and requirements of this project. We look forward to working closely with Aboitiz Economic Estates, and as we bring this new facility to life, we also hope this investment will contribute to the continued development of Cebu and the broader Visayas region.”

Aboitiz Group synergies supporting business competitiveness

A KEY advantage of West Cebu Estate is its access to capabilities within the broader Aboitiz ecosystem, enabling Aboitiz Economic Estates to provide solutions that extend beyond land and physical infrastructure.

For the new Pilmico feedmill, power will be supplied by Balamban EnerZone Corp. (BEZ), a subsidiary of AboitizPower, while water will be provided by Aboitiz InfraCapital Estate Water. These capabilities reflect Aboitiz Economic Estates’ role as a solutions provider, helping businesses address infrastructure, utilities, connectivity, sustainability, and other operating requirements that influence longterm competitiveness. The partnership with Aboitiz Foods also demonstrates how Group synergies can create value across the Aboitiz ecosystem. By bringing together the capabilities of Aboitiz Economic Estates, AboitizPower, Aboitiz InfraCapital, and Aboitiz Foods, the partnership leverages complementary strengths while supporting the continued development of West Cebu Estate.

From investment to shared value

THE arrival of Aboitiz Foods comes as West Cebu Estate continues to evolve as a strategic industrial destination in the Visayas. As new locators establish operations, the estate has the potential to generate economic activity beyond its boundaries through employment, supply chain opportunities, skills development, and local enterprise. This reflects Aboitiz Economic Estates’ approach to growth with shared value, where investment within its estates contributes to stronger communities, regional development, and broader national competitiveness. “Ultimately, the value of an economic estate is measured not only by the investments it attracts, but by what those investments enable,” Academia said. “When businesses grow, they create jobs, develop capabilities, engage local suppliers, and contribute to the strength of the surrounding economy. That is the kind of long-term, shared growth we want West Cebu Estate to support.” The ceremonial signing with Aboitiz Foods marks another step in West Cebu Estate’s evolution as an integrated economic ecosystem where businesses can operate competitively, people can build careers, and communities can grow alongside industry.

Wednesday, October 7, 2026

www.businessmirror.com.ph

A PHILIPPINE serpent eagle rescued in Subic, Zambales. DENR

DA, DPWH partner to build ₧9-B farm-to-market roads O

Serpent eagle rescued in Subic

By Ada Pelonia

@adapelonia

HE Department of Agriculture (DA) and the Department of Public Works and Highways (DPWH) have forged a partnership to build over P9 billion worth of farm-tomarket roads in five regions in Luzon. The agencies signed a memorandum of agreement (MOA) covering 605 FMR projects with a combined length of 604 kilometers as part of the government’s efforts to bolster connectivity between production areas and markets. Broken down, the P9.06-billion package covers major agricultural areas in northern Luzon, where farm roads are critical to the

movement of palay, vegetables, fruits, livestock, and other commodities. The program covers the Cordillera Administrative Region (CAR), Ilocos Region, Cagayan Valley, Central Luzon, and Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon), with projects to be implemented in 26 provinces. Agriculture Secretary Francisco Tiu Laurel Jr. stressed the need

for the government to expedite the development of the country’s FMR network, since improved connectivity could increase farmers’ incomes while reducing the cost of transporting farm inputs to production areas and agricultural products to consumers. He added that better rural connectivity would also bolster local economies by making it easier for agricultural communities to participate in wider markets. In addition, the DA explained that poor road conditions could hike farmers’ hauling costs, limit access to buyers, and complicate the delivery of seeds, fertilizer, and other agricultural inputs. A s suc h, i mprov i ng t hese connections could translate increased farm production into better returns for farmers. For his part, DA Undersecretary Arrey Perez said the projects are crucial to enhance the movement of agricultural products and

strengthen connections between farmers and markets. Under the 2026 national budget, the government allocated funding for the DA’s broader FMR program, designed to finance more than 1,600 projects covering about 2,200 kilometers of rural roads nationwide. The wider program also highlights the scale of the government’s infrastructure push beyond the projects covered by the MOA. The DA said the government also employs infrastructure monitoring mechanisms and a digital portal to track project implementation and project status as the road program moves from planning to construction. Beyond moving farm products, the agency stressed that improved roads could connect producers to traders, processors, and consumers while boosting access to services and economic opportunities in rural communities. “For the agriculture sector, the investment is ultimately aimed at making it easier and more affordable to produce, transport, and market food, while giving farmers a greater stake in the value generated across the agricultural supply chain.”

By Henry Empeño

LONGAPO CITY—A Philippine serpent eagle (Spilornis holospilus), locally known as “lawin” or “agila,” was rescued at barangay Matain in Subic, Zambales, and turned over to the local environment office for assessment and rehabilitation. Forester Edward Sernadilla, head of the Community Environment and Natural Resources Office (Cenro) in Olongapo City, said the rescued raptor was turned over to his office by Matain barangay officials on Monday. Sernadilla said the rescued eagle will be transferred to the Wildlife in Nature (WIN) Rescue Center in the Subic Bay Freeport Zone, where it will undergo further medical evaluation and rehabilitation before its possible release to its natural habitat. Cenro’s wildlife enforcement officer Bryan Vallejos initially examined the eagle prior to its turnover to WIN, Sernadilla added. The Philippine Serpent Eagle is found only in the Philippines and is commonly found in forest clearings, open woodlands, and rural or cultivated lands. While it is currently assessed as a specie of least concern by the International Union for Conservation of Nature (IUCN), the DENR said it faces a declining population trend, mainly due to habitat loss, as well as poaching and hunting for the illegal pet and wildlife trade. The species is protected under Republic Act 9147, or the Wildlife Resources Conservation and Protection Act of 2001, which prohibits unauthorized collection, possession, transport, and trading of wildlife without government permits or authority.

The rescue of the Philippine serpent eagle in Subic was the latest turnover reported by the Department of Environment and Natural Resources (DENR), highlighting the importance of community participation in the agency’s wildlife protection program. On September 20, the DENR also received five wildlife species from a concerned resident of Barangay Maronquillo in San Rafael, Bulacan: two Asian palm civets ( Paradoxurus hermaphroditus ), two Philippine serpent eagles (Spilornis holospilus), and one Brahminy kite ( Haliastur indus ), which are all classified as Least Concern under the IUCN Red List. The rescued animals were subsequently transported to the Biodiversity Management Bureau Wildlife Rescue Center for further evaluation, treatment, and rehabilitation, the DENR said. On September 15 personnel from the Bureau of Fire Protection (BFP) in Tarlac City captured an 8-foot, 6-inch reticulated python ( Malayopython reticulatus ) and turned it over to the Provincial Environment and Natural Resources Office (Penro). The python was subsequently transferred to a DENR-accredited wildlife rescue facility at Clark Safari in Pampanga for assessment and proper care. Central Luzon DENR Regional Executive Director Ralph Pablo had commended the residents and agencies in facilitating the rescues, saying the prompt turnover to the proper authorities gives rescue animals a better chance to receive needed care, rehabilitation, and return to their natural habitat. He said the DENR encourages the public to report rescued, injured or displaced wildlife to the nearest DENR office instead of keeping or attempting to rehabilitate them independently.

Senator backs call to raise pork farmgate prices By Butch Fernandez @butchfBM

EN. Francis Pangilinan on Tuesday expressed support for hog raisers’ call to raise farmgate pork prices and tighten import controls, saying the government must help ensure local producers receive fair compensation while keeping pork prices manageable for Filipino consumers. A group of local hog raisers recently called on President Marcos and the Department of Agriculture (DA) to raise farmgate liveweight hog prices to P210 per kilo and raise tariffs on imported pork. Pangilinan, who chairs the Senate Committee on Agriculture, Food, and Agrarian Reform, said farmgate prices should be high enough to cover the production costs of hog raisers and provide them with a fair return on their investment. “ Suportado natin nang 100 percent ang panawagan ng ating mga magbababoy na itaas ang farmgate price. Hindi makatarungan na napakataas ng nagagastos nila para makapag-alaga ng baboy pero napakababa naman ang benta nito ,” Pangilinan said. He added that the government must ensure local hog raisers can earn enough to

sustain their operations and keep producing pork for the domestic market. “ Kung lugi ang magbababoy, titigil sila. Kapag nagsara ang mga piggery at lumiit ang lokal na produksyon, lalo pang tataas ang importation at lalo pang magmamahal ang mga pork products. Kaya ang laban para sa makatarungang farmgate price ay laban din para sa food security.” Reports indicate that farmgate prices for liveweight hogs have fallen to as low as P120 to P160 per kilo in some areas. Pangilinan said these prices are insufficient to cover production costs and could force some hog raisers to scale down or shut down their operations altogether. The senator also said it is time to review policies on pork tariffs and importation. “ Nakatulong ang importasyon noong kapos ang supply dahil sa ASF [African Swine Flu]. Pero ngayong unti-unti nang bumabangon ang lokal na industriya, dapat tiyakin na ang dami at presyo ng imported pork ay hindi sumisira sa kabuhayan ng ating mga lokal na magbababoy ,” he pointed out. The senator, likewise, backed calls for tighter management of pork imports, saying import volumes must be carefully calibrated with domestic production and demand.

“A ng dapat nating hanapin ay balanse: Presyong makatarungan para sa magbababoy at presyong abot-kaya naman para sa mamimili. Hindi kailangang pagpilian ang producer at consumer. Kung tama ang patakaran sa produksyon, importasyon, at bentahan, parehong puwedeng protektahan ,” he said. But he also stressed that managing imports should not be used as a justification for allowing retail prices to remain high, emphasizing the need for the government to monitor the entire pork supply chain. Meanwhile, Pangilinan also said the government should continue strengthening suppor t for local hog production, particularly through biosecurity measures, ASF prevention and control, affordable feeds, financing, and access to stable markets. A stronger hog industry will reduce the country’s dependence on imported pork and ensure a stable domestic supply. “ Ang gusto natin ay isang industriya ng baboy na kayang mabuhay ang producer at kayang bumili ang consumer. Pareho namang Pilipino ang magbababoy at ang mamimili kaya dapat maprotektahan ng gobyerno ang pareho nilang interes, pangangailangan, at karapatan,” the senator said.

Cebu business groups split on port cargo handling fee hike By Carmel Pedroza

EBU CITY—Cebu business groups are divided over a proposed 25 percent increase in domestic cargo-handling tariffs at the Port of Cebu, with one chamber opposing any adjustment while another is backing a staggered implementation to cushion its impact on businesses. The Port of Cebu Association of Cargo Handling Operators Inc. (Pcachoi) is seeking a 25 percent increase in arrastre and stevedoring charges, citing rising operating costs, including fuel, labor and other expenses. The proposal was presented to Cebu business groups during a recent consultative meeting with the Cebu Ports Authority (CPA). In a statement released by the Cebu

Chamber of Commerce and Industry (CCCI), the group said it supports the proposed adjustment but wants it implemented in two tranches –10 percent in the fourth quarter of 2026 and the remaining 15 percent in the first quarter of 2027—to give micro, small and medium enterprises (MSMEs) and other port users more time to adjust. The Mandaue Chamber of Commerce and Industry (MCCI), however, said it does not support any increase at this time, including a staggered adjustment. In a separate statement, MCCI President Barbara Gothong-Tan said businesses are already dealing with higher fuel and oil prices, wage increases and the anticipated effects of a “super El Niño,” making another cost increase difficult to absorb. “We don’t support any type of increase considering the fuel and oil crisis, the wage hike increase, plus the upcoming super El

Niño. These are keeping businesses down, and any type of additional set of expenses would be quite heavy,” Gothong-Tan said. The proposed increase comes as businesses continue to face higher costs while demand remains relatively weak. MCCI said the timing of a substantial tariff adjustment requires careful consideration, particularly given the potential impact on the cost of moving goods across the supply chain. “Logistics is an essential component of the supply chain, and higher logistics costs ultimately have implications for the prices of goods and, consequently, consumer purchasing power,” the chamber said. It noted that additional cargo-handling charges could affect not only companies directly paying the tariffs but also manufacturers, traders, distributors and retailers, with possible implications for consumers.