Powerful quake off Davao Oriental kills 7, prompts tsunami evacuations By Manuel T. Cayon
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FORMER banana workers of Hijo Plantation duck for cover outside TWO women walk past a damaged house after a strong earthquake the San Isidro gymnasium, Tagum City, as a 7.4 magnitude quake in Davao City, southern Philippines, on Friday October 10, 2025. AP/MANMAN DEJETO hits offshore Manay, Davao Oriental. MANUEL CAYON
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AGUM, Davao del Norte— A 7.4-magnitude earthquake Friday morning killed at least seven people and injured over 1,000 people, in the strongest earthquake to hit the country this year offshore of Davao Oriental in southern Philippines. It came on the heels of another strong killer quake in
A FIREMAN stands near the items on the floor at a grocery following a strong earthquake in Banaybanay, southern Philippines, on Friday October 10, 2025. BUREAU OF FIRE PROTECTION VIA AP
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ICC nixes Duterte plea for release
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Saturday, October 11, 2025 Vol. 21 No. 3
7-MONTH FDI INFLOWS DOWN 20% TO $4.7B–BSP
Return to Davao raises alarm
IN May 2025, Duterte was re-elected Mayor of Davao City. His son was elected vice mayor. The Chamber recalled Duterte’s 2024 pledge to “double the killings” if returned to office, warning that his reinstatement “would place him in the very
By Andrea E. San Juan
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ET foreign direct investments (FDI) inflows declined both in July 2025 and in the first seven months of the year, data from the Bangko Sentral ng Pilipinas (BSP) showed. FDI Inflows Dip in July 2025 as Debt Investments Fall Lower intercompany borrowings pulled total FDI down Debt Instruments: $1.2B $711M ( 39.4%)
FDI net inflows (in billion USD)
July 2024: $1.4B
July 2025: $1.3B ( 7.5%)
Equity placements surged, offsetting some of the decline Equity Capital: $76M $418M ( 450.6%)
Jan–Jul 2024: $5.9B
Jan–Jul 2025: $4.7B ( 20%)
Firms continue to reinvest profits locally Reinvested Earnings: $122M $139M ( 14.3%)
BM Graphics: Ed Davad/Source: BSP
DEFENSE lawyers argued that Duterte’s age and health justified supervised release. But the Chamber said the documents submitted did not show how his condition negates the risks. It stressed that the defense’s claims were speculative and lacked expert backing. “The issue of fitness to stand trial is factually and legally distinct from the question of interim release,” the Chamber wrote. It added that Duterte has access to medical care in detention, including psychiatric services and round-the-clock nursing. The chamber warned that Duterte could resume the conduct for which he is being prosecuted. “There exists a risk that, should he be released, Mr. Duterte [would] continue committing the crimes charged against him or related crimes within the Court’s jurisdiction,” the decision stated. This risk remains even if Duterte is relocated outside the Philippines. The chamber cited his son’s current position of power in one of the crime locations, saying this influence could still enable obstruction.
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CHALLENGE ACCEPTED:
DA to take over from DPWH on farm-to-market roads
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Health claims dismissed
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FARM-TO-MARKET road (FMR) project in Ligao City, Albay. DPWH
By Malou Talosig-Bartolome HE International Criminal Court (ICC) Pre-Trial Chamber I has denied former President Rodrigo Roa Duterte’s request for interim release. In a decision issued on October 10, 2025, the Chamber said Duterte must remain in detention to ensure his appearance at trial, protect the investigation, and prevent further crimes. Duterte was turned over to ICC custody on March 12, 2025, following the Court’s issuance of a warrant of arrest for alleged crimes against humanity—specifically murder—linked to the Philippine drug war and earlier operations in Davao City.
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FORMER President Rodrigo Duterte is seen on a screen in the courtroom of the International Criminal Court, in The Hague, Netherlands, March 14, 2025. AP/PETER DEJONG
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Cebu province also in the south. The earthquake resulted in landslides, damaged hospitals and schools and prompted evacuations of coastal areas nearby because of a tsunami warning, which was later lifted. The warning was raised anew past 7 pm, when a second powerful quake with magnitude 6.9 rattled the same area.
On Friday, BSP said FDI net inflows declined by 7.5 percent from $1.4 billion in July 2024 to $1.3 billion in July 2025. Also posting a contraction, FDI net inflows in the January to July 2025 period declined by 20 percent from the $5.9 billion posted in January to July 2024 to $4.7 billion in January to July 2025, BSP said. The decrease in FDI net inflows during the month, BSP noted, resulted from lower nonresidents’ net investments in debt instruments, which fell by 39.4 percent, from $1.2 billion to $711 million. BSP noted that net investments in debt instruments “consist mainly of intercompany borrowing and lending between foreign direct investors and their subsidiaries or affiliates in the Philippines.” It also noted that the remaining portion of net investments in debt instruments are investments made by nonresident subsidiaries or associates in their resident direct investors. Continued on A2
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By Ada Pelonia
HE Department of Agriculture (DA) has accepted the Senate’s challenge to take the lead in farm-to-market road (FMR) projects amid allegations of misuse of public funds in previous FMR schemes managed by the Department of Public Works and Highways (DPWH). During a Senate hearing on the proposed budget of the DA on Friday, Agriculture Secretary Francisco Tiu Laurel Jr. announced the agency’s readiness to take over the construction of critical infrastructure aimed at promoting rural development, raising farmers’ incomes, and ensuring a steady supply of affordable food. “At the last Senate hearing on the Department of Agriculture’s 2026 budget, we were issued a direct challenge: to take charge of farm-to-market road projects ourselves,” Tiu Laurel said. Alluding to the controversy now faced by the DPWH on various infrastructure projects, the DA chief added, “Instinct tells us to steer clear. To play it safe. But this is no time for hesitation … and so, we rise to meet the moment.” The DA had explained that even though FMR schemes are identified and validated by the agency, these road projects are commissioned, bid out, and constructed by the DPWH. Earlier, Senator Sherwin Gatchalian flagged possible overpricing worth over P10 billion in the construction of 70,000 kilometers of roads. He noted that such is enough to build a two-lane highway from Manila to Aparri. He noted the top 10 “extremely overpriced” FMRs last year, with a project worth P348,432 per meter leading the list. This figure was 96 percent higher than the P15,000 per meter benchmark by the DA. “These are roads the nation paid for—yet many of our farmers have yet to walk on them,” he said. Gatchalian then welcomed the agency’s decision to take on his challenge to implement the FMR program independently. He expressed confidence that the DA chief’s private sector experience would help reduce construction costs, allowing the program to cover a wider area. “More importantly, this will make it easier to establish accountContinued on A2
9 PHL firms, led by SMC, land on Forbes Best Employers list By Jennifer A. Ng
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HILIPPINE conglomerates San Miguel Corp. (SMC) and Ayala Corp. are among the world’s best employers, according to a list compiled by Forbes magazine. Of the nine Philippine firms that made it to this year’s edition of Forbes’ World Best Employers, only SMC landed in the top 50. The diversified conglomerate was ranked 42nd. The eight other top Philippine employers are Ayala (139th), Metrobank (154th), Land Bank of the Philippines (187th), LT Group Inc. (421st), Century Pacific Food Inc. (453rd), Jollibee Foods
Corp. (455th), BDO Unibank Inc. (585th) and Cebu Pacific (770th). To determine the list, Forbes said it partnered with market research firm Statista to survey more than 300,000 employees in over 50 countries. “The surveys, which were conducted online, were independent of any corporations so that participants could remain anonymous. Survey respondents were asked where they worked via an openended question with an autofill option, and corporations were eligible for this ranking if they employed more than 1,000 people and operated globally.” The participants noted how Continued on A2
WEAVING A NATION’S STORY The 15th Likhang HABI Market Fair, running from October 10 to 12, 2025, at SPACE, One Ayala in Makati, celebrates the country’s rich weaving heritage. Organized by HABI: The Philippine Textile Council, the event brings together artisans, designers, and weavers from across the Philippines to showcase traditional textiles, garments, and craftsmanship. Igorot weaver Sammy Buhle presented finely handwoven ikat fabrics, Josie Briol of the Mahalina Foundation demonstrated her weaving skills, and another exhibitor displayed traditional Yakan attire—each thread a vibrant expression of Filipino artistry and culture. BERNARD TESTA/BM
PESO EXCHANGE RATES n US 57.9540 n JAPAN 0.3787 n UK 77.1773 n HK 7.4475 n CHINA 8.1272 n SINGAPORE 44.6177 n AUSTRALIA 37.9715 n EU 67.0354 n KOREA 0.0407 n SAUDI ARABIA 15.4515 Source: BSP (October 10, 2025)