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Monday, October 27, 2025 Vol. 21 No. 19
P25.00 nationwide | 2 sections 20 pages | 7 DAYS A WEEK
By Samuel P. Medenilla @sam_medenilla
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UALA LUMPUR— Malacañang said the newly signed Association of Southeast Asian Nation (ASEAN) Trade in Goods Agreement (ATIGA) and the ASEAN-China Free Trade Area (FTA) 3.0 will open the regional bloc to emerging industries with Beijing and boost internal trade within the regional bloc.
And, weighing in, the Philippine Department of Trade and Industry (DTI) said the upgraded trade deals with its Asean neighbors will enable See “Markets,” A2
ASEAN WELCOMES TIMOR-LESTE, ITS FIRST NEW MEMBER IN DECADES East Timor’s Prime Minister Kay Rala Xanana Gusmao (fifth from left) and Malaysia’s Prime Minister Anwar Ibrahim (center) prepare to sign the Declaration on the Admission of Timor-Leste into Asean during the 47th Asean Summit in Kuala Lumpur, Malaysia, on Sunday, October 26, 2025. President Ferdinand Marcos Jr. is seated to Ibrahim’s left. The Asean formally welcomed East Timor as its newest member, a move that Gusmao described as a “dream realized” for the tiny Southeast Asian nation. The accession marks Asean’s first expansion since the 1990s and caps more than a decade of negotiations. “For the people of Timor-Leste, this is not only a dream realized but a powerful affirmation of our journey—one marked by resilience, determination, and hope,” Gusmao said during the flag ceremony, where East Timor’s banner was raised alongside those of the 10 other member-states. AP/VINCENT THIAN
DOMESTIC BORROWINGS PUSH 9-MO TOTAL GROSS TO P2.394T By Reine Juvierre S. Alberto
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@reine_alberto
HE Marcos Jr. administration continued to rely on domestic sources for funding, pushing total gross borrowings to P2.394 trillion in the first nine months of 2025, per the latest data from the Bureau of the Treasury (BTr). This, even as it scaled back its borrowings in September. The January-September total is higher by 4.08 percent than the P2.3 trillion posted during the same period in 2024, due to high domestic debt issuances. Domestic borrowings increased by 9.19 percent to P1.960 trillion as of end-September, from P1.795 trillion a year ago.
The government borrowed P1.053 trillion through fixedrate treasury bonds (T-bonds) and P181.150 billion from net Treasury bills (T-bills) during the nine-month period. About P300 billion in fixed-rate treasury notes and P425.613 billion in retail treasury bonds were also generated as part of the local borrowing program. Meanwhile, foreign financing declined by 13.84 percent to P434.597 billion as of end-September from last year’s level of P504.447 billion. Of the amount, P171.307 billion came from program loans, P71.325 billion from project loans and P191.965 billion from the issuance of global bonds. See “Borrowings,” A2
Business, labor urge Marcos to take ‘bold’ action vs. corruption
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AJOR labor and business organizations on Sunday urged President Ferdinand R. Marcos Jr. to act decisively against corruption, warning that public patience is running out amid what they described as the “largest and most brazen corruption scandal” in the country’s history. In an open letter, the Employers Confederation of the Philippines (ECOP), Federation of Free
Workers (FFW), Philippine Chamber of Commerce and Industry (PCCI), Philippine Exporters Confederation, Inc. (Philexport), Sentro ng mga Nagkakaisa at Progresibong Manggagawa (Sentro), the Trade Union Congress of the Philippines (TUCP) called on Malacañang to translate its anti-corruption rhetoric into results. “Workers and employers have long carried the See “Business,” A8
‘Budget shift to growth from patronage is key’
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HE government’s push for fiscal consolidation may falter without transparent spending and depoliticized allocations, economists warned, as the national budget should shift from political patronage to inclusive growth.
In a commentary by New Yorkbased think tank GlobalSource Partners, economists Diwa Guinigundo and Wilhelmina Mañalac said that a transparent budget execution, enhanced audit capability See “Budget,” A2
BM’S AWARD-WINNING DUO BusinessMirror reporters
Lenie Lectura and Lorenz Marasigan won individual awards for excellence in this year’s 34th Economic Journalists Association of the Philippines’ (EJAP) Business Journalism Awards Friday night in Makati. Lectura was named Energy Reporter of the Year while Marasigan won the Best Transportation and Telecommunications Reporter award. Both reporters have won multiple awards in the past for excellence in coverage in various beats. The annual EJAP Business Journalism Awards recognizes the best in Philippine business journalism. The event was held in partnership with the Ayala Group. The other winners are: Jasper Arcalas of Philippine Star (agri-mining), Luisa Jocson of BusinessWorld (banking), Bea Cruz of BusinessWorld (finance), Darwin Amojelar of Manila Standard (macroeconomy), Meg Adonis of Inquirer (capital markets), and Louella Desiderio of Philippine Star (trade).
PESO EXCHANGE RATES n US 58.6080 n JAPAN 0.3842 n UK 78.1303 n HK 7.5413 n CHINA 8.2274 n SINGAPORE 45.1456 n AUSTRALIA 38.1538 n EU 68.0849 n KOREA 0.0408 n SAUDI ARABIA 15.6279 Source: BSP (October 24, 2025)