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PHL gets ₧420-B devt project funding from UK By Reine Juvierre S. Alberto

HE Philippines secured access to up to £5 billion, or about P419.9 billion, in financing support from the United Kingdom to fund social infrastructure and other development projects, according to the Department of Finance (DOF). The funding was clinched after a signing of a new government-togovernment (G2G) partnership by Finance Secretary Frederick D. Go, UK Trade Minister Lord Anas Sarwar and UK Ambassador Sarah Hulton OBE. “The G2G Partnership comes at

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an important time for the Philippines as it continues its transition to an upper-middle-income country,” the DOF said in a statement it issued last Wednesday. “It is important to sustain productivity and investment, create more and better jobs, strengthen economic resilience, and promote inclusive and equitable economic growth.” Both governments will identify and advance strategic and feasible projects that are in line with the Philippines’s development agenda once a framework has been established, the DOF said. So far, energy transition, sustainable transport, water and

sanitation, aviation and social infrastructure are a few possible areas of cooperation. The two governments have already begun discussions on potential projects through the Infrastructure Sectoral Working Group of the Philippines-UK Joint Economic and Trade Committee. “We are opening new opportunities to bring financing, expertise, and partnership to projects that matter to the Filipino people. This Government-to-Government Arrangement gives us a practical framework for financial and development cooperation,” Go was quoted in the statement as saying.

UK Trade Minister Sarwar said the agreement would allow the Philippines to access UK expertise, goods, services and financing while creating opportunities for British companies to participate in Philippine projects. “Delivering on our recently published G2G Strategy, this partnership shows the UK building modern trade relationships that will deliver tangible economic benefits—jobs and growth—both at home and abroad,” Sarwar said. The UK is also a member of the Luzon Economic Corridor, where See “UK funding,” A17

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Thursday, September 24, 2026 Vol. 21 No. 345

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IMPEACHMENT WATCH DAY 29: TRIALS AND THRESHOLDS The Senate, sitting as an impeachment court, hears oral arguments on the voting threshold in the impeachment trial of Vice President Sara Duterte on Wednesday, September 23, 2026. Later in the proceedings, the court voted 13-1, with six senator-judges not participating, to overturn its earlier 16-vote requirement for conviction. The court ruled that the constitutional two-thirds requirement will be computed from senator-judges who, at the time of the verdict, remain legally and factually capable of participating. The ruling applies only to Duterte’s impeachment trial and does not establish a binding precedent for future cases. Story in A3 Nation. ROY DOMINGO-SPPA POOL

By Justine Xyrah Garcia

HE Philippine economy may once again fall short of the Marcos administration’s growth ambitions, as two international organizations cut their 2026 forecasts amid weaker investment and household spending. S&P Global Ratings on Wednesday lowered its 2026 gross domestic product (GDP) growth forecast for the Philippines to 2.9 percent from 4.1 percent previously, a 1.2-percentage-point downgrade. The Asian Development Bank (ADB), meanwhile, trimmed its growth forecast to 3.3 percent from

3.8 percent, or a 0.5-percentagepoint reduction. If either forecast materializes, the Philippines would miss the Development Budget Coordination Committee’s (DBCC) annual growth target for the fourth consecutive year since President Marcos Jr. took office. See “Growth,” A2

ON TRACK FOR 2027 A North-South Commuter Railway (NSCR) trainset is seen at the

Malanday Depot in Valenzuela City following its arrival in the Philippines. The Department of Transportation recently received the project’s third trainset, while a fourth has arrived and is undergoing customs clearance and unloading. Seven trainsets are expected to be in the country by September 2027 to support testing, commissioning and operational readiness for the planned December 2027 launch of passenger services between Valenzuela City and Malolos, Bulacan. The NSCR will eventually link Clark, Pampanga, Metro Manila and Calamba, Laguna. DOTR

PHL SEES UK TIES RUNNING THROUGH TRANS-PACIFIC BLOC By Bless Aubrey Ogerio

HE Philippines is looking beyond its current tariff preferences with the United Kingdom (UK), seeing its application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as a potential route to deeper access to the British market. Department of Trade and Industry (DTI) Undersecretary Allan B. Gepty said the country is not currently negotiating a bilateral free-trade agreement with the UK, but its CPTPP application could provide preferential access to the British market if the country’s accession bid succeeds. “If you will note, the joining of the United Kingdom in the CPTPP is one primary reason by which the Philippines also decided to join the CPTPP,” Gepty said at the second meeting of the Philippines-UK Joint Economic and Trade Committee (Jetco) in Pasay on Tuesday. The UK joined the CPTPP in 2024, while the Philippines formally applied for membership in August 2025 and entered preparatory discussions with CPTPP members in June this year. The CPTPP would give Philippine exporters a trade agreement with markets such as the

UK, Mexico and Peru, where the country does not currently have a bilateral free trade agreement. Chile has also been covered by the Philippines’s Srecently concluded free-trade agreement. In the meantime, local exporters continue to receive preferential treatment under the Developing Countries Trading Scheme (DCTS). The Philippines is classified under the scheme’s Enhanced Preferences tier, under which 92 percent of tariff lines are eligible for zero tariffs. Gepty said about 99 percent of Philippine exports to the UK by value are covered by the DCTS. However, the country used only about 68 percent of the available preferences in 2025, according to the joint UK-Philippines statement. Per the Philippine chief trade negotiator, the government wants to raise utilization, potentially to 100 percent, but this would require more information and capacity-building for exporters, particularly micro, small and medium enterprises. The UK also revised its DCTS rules of origin effective January 1, including expanded regional cumulation in Asia and more flexible rules for garments from countries under the Enhanced Preferences tier. For Gepty, these changes See “UK ties,” A2

Reddit gets extension to set up office in PHL By Lorenz S. Marasigan

HE Cybercrime Investigation and Coordinating Center (CICC) has retracted the extension it granted Discord to comply with its directive to set up a local office in the Philippines, saying the platform merely offered a briefing on its existing safeguards instead of addressing the government’s demands. However, the extension given to Reddit, which the agency earlier said was “indefinite,” stands. This, after the platform committed to establish an office in the country and a team that would coordinate with the CICC. “We thought they were proposing a meeting. Unlike Reddit that had concrete plans of complying, they just provided us a list of their existing safeguards,” CICC Executive Director Undersecretary Renato Paraiso said of Discord in a phone interview. “They just wanted to have a briefing and not address our demands.” Paraiso said he wanted Discord to take the kind of steps Reddit had committed to. The CICC initially extended the deadline for both platforms after officials of the two companies reached out and committed to work with the government on online child safety. Reddit responded within the original 24-hour ultimatum and met with CICC officials

online on Wednesday, while Discord separately wrote to the agency. “We decided to grant them an extension since they responded within the 24 hours and we want to give them the opportunity to work with us because what we want is accountability and a clear mechanism for government to coordinate with the platforms,” Paraiso said. He stressed then that the agency expects concrete results. “While we welcome their commitment to work with us, we will not settle for anything less. This commitment must translate into concrete action, genuine accountability, faster response mechanisms and stronger protections for our Filipino children online,” Paraiso said.

Reddit’s commitments

DURING the Wednesday meeting, Reddit Vice President of Policy Jessica Ashooh, Deputy General Counsel Leslie Liu and Policy and Regulatory Affairs Manager Vijay Pamarathi discussed setting up “green lanes,” or direct channels where Philippine authorities can flag potentially harmful content for expedited review and possible takedown. These channels would cover content involving online sexual abuse and exploitation of children (Osaec), child sexual abuse and exploitation materials (Csaem), See “Reddit,” A2

PESO EXCHANGE RATES n US 62.6980 n JAPAN 0.3985 n UK 83.6893 n HK 7.9941 n CHINA 9.3572 n SINGAPORE 49.1942 n AUSTRALIA 44.6034 n EU 71.7955 n KOREA 0.0463 n SAUDI ARABIA 16.6963 Source: BSP (September 23, 2026)

News

BusinessMirror

A2 Thursday, September 24, 2026

PHL sees UK ties running through… Continued from A1

could create additional opportunities for Philippine exporters, but businesses need to understand the requirements and identify products that can take advantage of the scheme. Beyond trade preferences, the UK has up to £5 billion in financing capacity through UK Export Finance for energy projects in the Philippines. For his part, UK Minister of State for Trade Anas Sarwar, meanwhile, declined to set a numerical target for bilateral trade. “The sky is the limit. So I don’t want to set a percentage figure. I want us to be bold, I want us to be ambitious, and I want us to move forward faster,” Sarwar said. At the second Jetco meeting, the two sides endorsed a refreshed program of work covering agriculture, energy, infrastructure and economic development. They also discussed potential cooperation in grid modernization, civil nuclear energy, trade digitalization and space. The program will be carried out over the next 12 to 18 months through existing working groups and government and private-sector partners. The first Jetco meeting was held in March last year to deepen bilateral trade and investment ties and address barriers to market access.

www.businessmirror.com.ph

New North South Commuter Railway trainsets arrive

By Malou Talosig-Bartolome

HE North-South Commuter Railway (NSCR) is moving closer to the start of passenger operations on its first segment, with additional trainsets arriving in the Philippines to support testing and commissioning activities ahead of the planned opening of the ValenzuelaMalolos line in December 2027. In a statement, the Japan International Cooperation Agency (JICA) said the Department of Transportation (DOTr) recently received the project’s third trainset at the Malanday Depot in Valenzuela City, while a fourth trainset has arrived in the country and is undergoing customs clearance and unloading. JICA said seven trainsets are expected to be in the Philippines by September 2027 to support operational readiness activities for the railway’s initial service between Valenzuela City and Malolos, Bulacan. The trainsets form part of the rolling stock package for the NSCR, one of the country’s largest railway infra-

structure projects. A total of 13 trainsets, each composed of eight cars, are being manufactured and supplied by the Japan Transport Engineering Company (JTREC)-Sumitomo Joint Venture. Each trainset can carry up to 2,288 passengers and is designed to provide safe, reliable and comfortable transport for commuters traveling within Metro Manila and neighboring provinces. The NSCR is a 147-kilometer electrified railway network that will connect Clark, Pampanga, Metro Manila and Calamba, Laguna. The government has identified the Valenzuela-Malolos section as the first

segment scheduled to begin operations, with the Malolos-Clark portion targeted to follow in 2028. Once fully operational, currently targeted by 2033, the railway is expected to serve about 800,000 passengers daily and significantly expand the country’s public transportation capacity. JICA said the project will substantially reduce travel times, with trips between Clark and Makati projected to take less than an hour. It is also expected to help decongest major roads, reduce greenhouse gas emissions and support sustainable urban development.

As a key component of the Luzon Economic Corridor, the railway is expected to improve access to employment, education, healthcare and other essential services while promoting investments and economic activity in communities along the route. JICA said the project also highlights the continuing infrastructure partnership between the Philippines and Japan as the two countries mark 70 years of diplomatic relations. See related:https://businessmirror.com.ph/2026/04/23/ dotr-secures-more-land-forrail-projects/

Growth…

ply with government rules. Meanwhile, ADB Philippines Senior Economist Teresa Mendoza also identified weaker household spending amid elevated inflation and weak consumer confidence as another drag on growth this year. “The impacts increasingly spread to the broader economy, including a slowdown in several services subsectors,” Mendoza said during a briefing. PSA data showed household consumption grew by just 2.8 percent in the second quarter, the slowest since the pandemic-induced first quarter of 2021, when household spending contracted by 4.8 percent. Excluding the pandemic period, household spending growth was the weakest since the third quarter of 2010, when it expanded by 2.6 percent.

Continued from A1

“We have lowered our growth forecast for 2026, reflecting the weaker-than-expected first-half growth and a more gradual recovery trajectory,” S&P Global economist Vishrut Rana told the BusinessMirror in an email interview. The Philippine economy grew by just 2.6 percent in the first half of 2026, sharply slower than the 5.4 percent expansion recorded in the same period last year. According to S&P, the Philippines was a “notable exception” to the resilience in domestic demand seen across Asia and the Pacific, pointing to continued weakness in investment. Data from the Philippine Statistics Authority (PSA) showed that gross capital formation, which measures investment in the economy, contracted by 9.2 percent in the second quarter of 2026. This marked another quarter of contraction after gross capital formation shrank by 2 percent in the third quarter of 2025, 9.4 percent in the fourth quarter, and 3.1 percent in the first quarter of 2026. Fixed investment also contracted by 13.7 percent in the second quarter, widening from the 2.5 percent decline in the first quarter. Construction likewise contracted by 14.8 percent, compared with a 4.3 percent contraction in the previous quarter. Rana said the recovery in investment would take time, with public capital expenditure expected to gradually normalize as infrastructure projects resume. “Given strong reforms in the space to increase transparency and efficiency, it will take time for disbursements to ramp up,” he added. Data from the Department of Budget and Management showed that infrastructure and capital outlays, a measure of government capital spending, fell to P367.14 billion in the first half of 2026, down 40.8 percent from P620.2 billion in the same period last year. The DBM earlier said infrastructure disbursements by the Department of Public Works and Highways (DPWH) were affected by tighter payment validation, audit and documentary requirements aimed at ensuring that releases are made only for properly documented and verified projects that com-

El Niño poses risk to inflation

ALTHOUGH the ADB expects Philippine growth to recover in 2027, it warned that the outlook remains vulnerable to the effects of a potentially strong El Niño from late this year through 2027. “Key risks stem from worsening of geopolitical tensions and extreme weather shocks, including worse than expected El Nino impacts, which could intensify further inflationary pressures,” ADB Philippines Senior Economist Teresa Mendoza said. The ADB expects growth to rebound to 5.1 percent in 2027, although this is slightly lower than its previous forecast of 5.3 percent. On inflation, the bank retained its 5.9 percent forecast for 2026, while raising its 2027 projection to 4.4 percent as food prices, particularly rice, are expected to remain elevated amid El Niño. S&P Global also expects the Philippines’s growth to recover next year, although it trimmed its 2027 forecast to 5.4 percent from 5.8 percent previously. “Elevated energy and food prices, together with the resulting tighter monetary policy, will continue to weigh on domestic demand. Amid these factors, we have also lowered our 2027 growth projection modestly,” Rana said. S&P Global expects Philippine inflation to average 5.5 percent this year before easing to 3.6 percent in 2027. Earlier, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) warned of a 60 percent or higher reduction in average monthly rainfall in some areas through the end of the year. The government also reactivated the Task Force El Niño in June to coordinate measures aimed at mitigating the phenomenon’s impact on agriculture and vulnerable communities.

Indian…

Continued from A17

The Philippines and India have already agreed on the terms of reference for the negotiating committee. Formal negotiations are expected to begin after the ongoing review of the Asean-India Trade in Goods Agreement (AITGA) is completed. Jain said he expects the review to conclude next year, while Trade Undersecretary Allan B. Gepty has separately said the Philippines hopes to begin PTA negotiations with India in 2027. For India, a bilateral agreement could allow both sides to make commitments beyond those under the broader Asean-India trade framework. “When we have a trade agreement with the entire Asean, it is the least common denominator of all the countries,” Jain said. “But now when we engage in bilateral trade agreements with the Philippines, we can be more ambitious and we can look for more concessions and bringing more clients into this differential trade agreement,” he added. Jain said bilateral trade between India and the Philippines currently stands at about $3.9 billion, compared with around $128 billion in India-Asean trade.

Reddit gets extension to set up office in PHL Continued from A1

scams, misinformation, harmful content, and materials associated with Nihilistic Violent Extremism (NVE). Reddit, however, did not provide a specific timeline for putting its office, coordination team and other mechanisms in place. In return, the CICC will provide Reddit with information and literature, including Philippine laws and regulations, to help the platform better understand the local framework governing online safety and cybercrime.

Discord’s offer

IN its letter to Paraiso, Discord expressed concern over recent incidents in the country and said it was willing to work directly with the CICC to protect minors from exploitation, grooming and exposure to violent content. Amid scrutiny over the use of Discord in communities associated with NVE, the platform said it was prepared to brief the CICC on its newly rolled out Global Teen Experience, which includes age-assurance measures designed to place teenage users in an age-appropriate experience by default. Discord Senior Public Policy Advisor Vasundhara Singh said that under the new system, users who cannot be confidently placed into an age group through account-level signals may confirm their age through privacy-preserving methods, including on-device facial age estimation, with biometric data neither shared with nor stored by Discord. Discord also offered to brief the agency on its Family Center tools and its Kodex system, which allows law enforcement agencies to submit lawful takedown and data requests and receive fast-tracked responses. For Paraiso, these were “not enough” noting “if I wanted to know what they were doing, then I would have just read their policy page.” The CICC had earlier given both platforms 24 hours to designate a resident agent or local representative who could facilitate Philippine jurisdiction and improve coordination with authorities. The order came as law enforcement and cybersecurity agencies raised alarms over the use of private, invitation-only digital communities to groom, radicalize and recruit minors into real-world violence.

The Nation BusinessMirror

www.businessmirror.com.ph

Thursday, September 24, 2026 A3

Senate junks 16-vote impeachment threshold By Jovee Marie N. Dela Cruz

@joveemarie

HE Senate Impeachment Court on Wednesday overturned its earlier ruling that required 16 votes to convict Vice President Sara Z. Duterte, adopting a formula that will base the two-thirds requirement on senator-judges who remain legally and factually capable of participating when the verdict is taken.

Senator-Judges A lan Peter Cayetano, Pia Cayetano, Christopher Go, Imelda Josefa Remedios Marcos, Camille Villar and Robin Padilla did not participate in the threshold vote. The ruling reversed Escudero’s July 6 decision that Article XI, Section 3(6) of the Constitution required at least 16 votes, or two-thirds of the full 24-member Senate, to convict Duterte. The court’s new ruling came after it heard the views of four amici curiae on September 16 and oral arguments from the prosecution and defense on Wednesday. Although Escudero disagreed with the majority, he said he would implement the decision. “The presiding officer, after all, is not the court. He is merely the custodian of the process, not the proprietor of its outcome,” Escudero said. Under the new ruling, the constitutional phrase “all the Members of the Senate” will refer to

senator-judges who, at the time of the verdict, are legally and factually capable of participating in the impeachment proceedings. “The phrase ‘all Members of the Senate’ shall refer to those members who, at the time of the vote, remain legally and factually capable of participating in the proceedings,” Escudero said. T he cou r t ident if ied f ive circumstances that may justify excluding a senator from the counting base: being detained or legally restrained; being sought by authorities with unknown whereabouts; being physically or medically incapacitated; being beyond the Senate’s coercive processes; or being in another circumstance similarly situated to the specified categories. T he categor ies do not automatically remove a senator from the denominator. The court must first determine, based on competent

and sufficient evidence, whether a senator falls under any of them. The remaining qualified members will then form the denominator for computing the constitutionally required two-thirds vote. “The remaining members shall then constitute the denominator from which the required twot h i rd s conc u r rence sh a l l be computed,” Escudero said. For example, if 20 senatorjudges are deter mined to be eligible for the vote, two-thirds would be 13.33. Since a vote cannot be fractional, the required number would be rounded up to 14. “Where the computation of two-thirds results in a fraction, the number of votes required for conviction shall be rounded up to the next higher whole number, even if the fraction is less than 0.5,” Escudero said. During oral arguments, House prosecutor and Party-list Rep.

Jose Manuel Diokno said the dispute centered on determining the proper counting base, rather than changing the constitutional two-thirds requirement. “ The Constitution requires two-thirds. The question before this Court is: Two-thirds of how many?” Diokno said. Escudero said the ruling would apply pro hac vice, or only to the present impeachment trial, because it arose from circumstances the court considered extraordinary. He stressed that it would not establish a binding precedent for future impeachment proceedings. “This ruling and interpretation of the Court shall operate pro hac vice, or for this occasion only. It shall not constitute a binding precedent in any future impeachment proceedings. This is a ruling, not an amendment of the rules,” Escudero said.

The court approved SenatorJudge Erwin Tulfo’s appeal by 13 affirmative votes against one negative vote, with six senatorjudges not participating. Presiding

Officer Sen. Francis Escudero cast the lone negative vote. “It is therefore 13 affirmative votes, one negative vote, and six did not participate,” Escudero announced.

Marcos considers pardon for Veloso

DILG’s Remulla admits: Roque’s House adopts Senate version of BSKE bill asylum plea in Vienna still hangs T

R ESIDENT Marcos is consider ing g rant ing absolute pardon to Mary Jane Veloso on humanitarian grounds, Malacañang said Wednesday. Palace Press Officer Claire Castro confirmed the development after Bataan Rep. Albert Garcia said during deliberations on the proposed 2027 budget of the Office of the President that Malacañang is “seriously considering” granting Veloso an absolute pardon. Castro said the consideration is anchored on humanitarian grounds. Asked if the pardon could be granted before Christmas, Castro said it could come earlier but declined to give a definite timeline. “Baka mas maaga. Let us see. Hayaan natin ang Pangulo magsalita, [It could be earlier. Let us see. Let’s leave that to the President],” she said in a Palace briefing. Garcia earlier said an announcement on the matter could be made in the coming days. Veloso, a for mer overseas Filipino worker, was convicted of drug trafficking and sentenced to death in Indonesia in 2010. She spent nearly 15 years in Indonesian custody before being repatriated to the Philippines in December 2024 following an agreement between Manila and Jakarta. She is currently detained at the Correctional Institution for Women in Mandaluyong City. Castro said the Philippine government does not need to seek Indonesia’s approval for the possible grant of pardon. The possible pardon follows previous appeals by Veloso and her family for executive clemency. In July, Malacañang said the appeal would be relayed to Marcos for consideration. In December 2024, Marcos said the request for clemency would be subject to review by the government’s legal experts. Samuel P. Medenilla wih PNA

By Jonathan L. Mayuga @jonlmayuga

NTERIOR Secretary Juanito Victor Remulla on Wednesday admitted that he may have made a mistake about Harr y Roque’s asylum request in Austria being denied, but maintained that it remains pending. Remu l la said that asylum requests usually expire after five months, after which they are considered denied. In the case of Roque, a former spokesperson of now-jailed former President Rodrigo Duterte, the asylum request remains hanging—which means it is neither approved nor denied. This is not the first time that Remulla “ jumped the gun” and later apologized. During the launching of the “Safer Cities” campaign of the National Police (PNP) and the Department of the Interior and Local Government (DILG), Remulla was heavily criticized after several residents, including a man mixing

cement outside his house bare chested were arrested. Later, Remulla personally apologized and admitted lapses, such as putting in place proper guidelines for the implementation of the program. Early in May this year, Remulla was quick to issue a public statement announcing that former Party-list Rep. Zaldy Co of Ako Bicol had been arrested, adding that he would soon be going home. It turned out that Co was merely held by authorities in the Czech Republic in connection with a passport problem and was later released. Co remains at large and could not be located. Latest information is that he is holed out in Paris. Remulla was also criticized for his recent interview about the whereabouts of fugitive Sen. Ronald dela Rosa, as being protected by an influential and powerful person. Remulla said that negotiations are going on for dela Rosa’s su r render to avoid a bloody confrontation. Dela Rosa, a former PNP chief, remains at large. High-prof i le persona l it ies

remain at large until now, including online gambling operator Charlie “Atong” Ang and former Bureau of Corrections chief Gerard Bantag. In the days following the issuance of arrest warrants against Ang, the police under Remulla staged much publicized raids on several areas where Ang is believed to be holed out. All yielded negative results. A regional trial court in Laguna issued a warrant for his arrest involving 15 counts of kidnapping, serious illegal detention, and k id napping w it h homic ide regarding the high-profile case of missing online cockfighting (sabungeros) personalities. Bantag remains a fugitive from justice. He is wanted under standing arrest warrants for his alleged role in the high-profile 2022 killing of broadcast journalist Percy Lapid and inmate Jun Villamor. In the hunt for these personalities, Remulla had been vocal in the media saying that they will soon be arrested. No one has been located so far.

Govt readies new round of Uplift aid

HE administration of President Marcos is preparing a new round of fuel assistance under the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT) to provide relief to vulnerable sectors as the benchmark Brent oil hit $100 per barrel on September 9, the first time since July amid renewed US-Iran tension. Agriculture Assistant Secretary Arnel de Mesa said farmers and fishermen are the initial targets of the fresh UPLIFT assistance. Transportation Secretary Giovanni Lopez at the same time said the administration is continuously looking for ways to mitigate the local impact of the increase in oil prices in the global market, which affects the public

transport sector and commuters. Lopez said the Department of Transportation (DOTr) is seriously studying to include other modes of public transport in the fuel subsidy now enjoyed by PUJs and UV express. The Land Transportation Franchising and Regulatory Board (LTFRB) is also holding consultations on fare-increase petitions. In an inter view with R adyo Pilipinas’ Rise and Shine program, de Mesa said, “Sa ngayon inihahanda na natin ang fuel assistance under the UPLIFT program natin. Ito ay direktang mapapakinabangan ng ating mga magsasaka at mangingisda.” He said a big chunk of the expense of farmers and fishermen goes to fuel for their palay

harvesters and motorized bancas. The government is also considering restoring toll waivers for vehicles transporting agricultural products from Northern Luzon and Southern Luzon to Metro Manila. “Pag nagkaroon ng pagtaas ang presyo ng petrolyo ang unang naaapektuhan sa sektor ng agrikultura ay iyong dagdag na gastusin sa movement or transportation costs na ipinapasa sa ating mga consumers,” de Mesa added. “Naging epektibo dati iyong pagbibigay ng libreng toll doon sa ating mga viajero. Isa iyan sa magandang pang yayari sa mga nakalipas na pagtaas ng [presyo] ng produktong petrolyo,” de Mesa said. On the private sector hog industry association’s proposal to raise

See “Senate,” A4

HE House of Representatives has adopted the Senate version of a measure extending the terms of Barangay and Sangguniang Kabataan (SK) officials to five years and postponing the next Barangay and Sangguniang Kabataan Elections (BSKE) from November 2026 to November 2028, paving the way for its submission to President Marcos for approval. Last week, the House adopted Senate Bill 2387, allowing the measure to bypass the bicameral conference committee process and proceed to presidential action. Camarines Sur Reps. Miguel Luis Villafuerte and Luigi Vincenzo Villafuerte welcomed the House action. “We are optimistic that barangay and SK officials will have more time to implement their development programs in their respective localities, following the approval of the Senate bill adopted by the House,” said Miguel Luis Villafuerte, a coauthor of the measure. “The longer terms will give them additional time to plan and carry out projects, particularly those that require longer periods to complete and deliver benefits to their communities,” he added. Under the measure, the next BSKE would be held on the second Monday of November 2028, with subsequent elections to be conducted every five years. With their terms extended by two years due to the postponement of the elections, in-

cumbent elective barangay officials shall be regarded as having completed one term in their respective positions. Deputy Majority Leader Luigi Vincenzo Villafuerte said, meanwhile, that the bill, which seeks to amend Republic Act 12232, also sets limits on the number of consecutive terms that barangay and SK officials may serve. Barangay officials may serve two consecutive terms in the same position, while SK members may serve one term. It disqualifies incumbent barangay officials who are already serving their third consecutive term from running for the same position in the next barangay elections. The measure retains the provision that voluntary renunciation of office for any length of time shall not be considered an interruption in the continuity of service for the full term for which the barangay or SK official was elected. The House passed its version, House Bill 10971, by a vote of 211-13-1, w ith one abstention, on September 8, while the Senate approved its version, SB 2387, by a 13-5 vote on September 14. The House’s adoption of the Senate version means the two chambers no longer need to convene a bicameral conference committee to reconcile separate versions of the measure. The adopted version can now proceed to the next stage of the legislative process and be submitted to the president for approval and signing into law.

pork tariffs, de Mesa said the government is carefully studying how to mitigate the potential impact on pork prices and the subsequent rise in processed pork products such as hotdogs and luncheon meat, which Filipinos consume daily. In a separate interview, Lopez said, “Sa ating mga bus operators at drivers, una po, kami po, ako po ay personal na humihingi ng inyong pasensya, paumanhin at konsiderasyon. At makaaasa naman po kayo na ang gobyerno gumagawa ng mga iba’t ibang mga inisyatibo para po matulungan kayo and in the meantime, matulungan din natin ang ating mga commuters.” On the petition for fare hike, Lopez said the LTFRB is thoroughly consid-

ering the issues and concerns of the operators, drivers, and commuters. “Pagdating po sa fare hike, this is what I have been saying that at this point in time, we are squeezing the government on what initiative of subsidy it can still give. Tulad po ng fuel discount, alam po namin iyan na from P10 naging P12 at limitado po ang transport modes na makikinabang diyan, iyong jeepney at tsaka mga UV Express. We are thinking of how to extend the subsidy to other transport modes,” Lopez said. President Marcos formed UPLIFT to provide assistance to the most vulnerable sectors as part of the wholeof-government approach to mitigate the impact of the lingering Middle East crisis. With Samuel P. Medenilla

Jovee Marie N. dela Cruz

DPWH to start work on Metro Manila water detention basins by January

HE Depar tment of Publ ic Works and Highways (DPWH) w ill start detention basin works in flood-prone towns along Northern Manila Bay as early as January, its chief said on Wednesday. Public Works Secretary Vivencio Dizon added that the agency is also targeting the second quarter of next year to begin implementing a nature-based earth dike, as the agency moves away from what its chief called a “concrete, concrete, concrete” approach to flood control. Dizon said the shift will favor hybrid

solutions that combine conventional engineering with nature-based interventions such as mangroves, bamboo cribs, and gabions. The effort covers the towns of Hagonoy, Obando, Macabebe, Masantol, and Sasmuan, as well as parts of Malolos City, in Bulacan and Pampanga. “The problem is mindset. The problem is right now, if you talk to DPWH engineers, when you ask them, flood control, flood mitigation, they will always say, ‘Let’s build a dike,’” Dizon said in a mix of English and Tagalog, recounting what he told the

Dutch deputy ambassador. He said the agency is drawing on the experience of countries that have gone through the same process. “They also used to be all concrete, all concrete. But in some cases, they’ve even torn down the concrete, and they’re moving towards more nature-based solutions,” Dizon said. “It can’t be purely nature-based, because there are things where we need concrete. But we need to study this carefully and learn from those who know and have done this before, so we don’t waste money again. We’ve

already approved so much money for this, and it was just wasted.” The earth dike is still being designed, Dizon said, noting that the government’s partners told him a plan could be ready in six months. “So, hopefully by the second quarter of next year, we can begin... we can already begin the process of implementing that project,” he said. The detention basins could move sooner because they have already been studied. “We can start already as early as

January,” Dizon said. The DPWH is now only seeking help from its partners on the final conceptual designs. “This is not simple, like when we were kids building sandcastles on the beach. This is a complex intervention, but it’s a nature-based intervention,” he said. “Let’s wait for the final designs and concepts that will come from Haskoning and ADB [Asian Development Bank] before we comment.” Dizon cited an existing pilot in Malolos City, where bamboo cribs

have been installed. He said Malolos Mayor Christian Natividad told him the cribs have been “very effective.” The cribs trap sediment carried in by waves, which allows mangroves to take root naturally. Dizon said former Public Works Secretar y Rogelio Singson had suggested speeding this up by filling the cribs with suitable material dredged from the Pampanga River and other rivers, and he agreed with the idea. See “DPWH,” A4

A4 Thursday, September 24, 2026

Govt CPAs set natl convention in Cebu

HE Association of Certified Public Accountants in Public Practice (Acpapp), headed by National President Jun Ravalo, will hold its 26th Annual National Convention (ANC) on September 24 and 25, 2026, at the NUSTAR Convention Center in Cebu City. With the theme “Empowered to Lead, Committed to Serve,” the two-day gathering will bring together CPAs in public practice and other accounting and business professionals from across the country for continuing professional development, knowledge-sharing, networking and fellowship. The convention will feature distinguished experts and industry leaders who will tackle issues shaping the accounting profession and the business environment. Sessions will cover ethical leadership and integrity, building a committed workforce, IFRS 18, SEC sustainability rules, artificial intelligence, SEC compliance, the evolving role of CPAs in business leadership, and automation for greater efficiency and BIR compliance. Among the Resource Speakers are Allan W. Ocho and Benjamin N. Villacorte of SGV & Co.; Dynah Avigail T. Basuil, PhD of the Asian Institute of Management; Dennis M. Malco of PwC Philippines; Gilbert T. Trinchera of KPMG Philippines; Emmanuel Y. Artiza, General Accountant of the Securities and Exchange Commission; John Owen Z. Pages, President and Chief Executive Officer of Pages Holdings, Inc.; and Marian I. Peralta and Darielyn C. Somido of Deloitte Philippines and QNE Software Phils. Inc., respectively. Through the convention, Acpapp reaffirms its commitment to equip Filipino CPAs with the knowledge, technology and leadership capabilities necessary to remain relevant in a rapidly changing profession while upholding integrity and excellence in public practice.

DPWH…

Continued from A3

Under the natural process, mangroves would take three to five years to grow, Dizon said. “But if we can put the sediments already there on our own by using the material we get from dredging, maybe we can start planting in just a year,” he said. He said mangrove planting is also the answer to concerns that developments along Manila Bay have destroyed mangrove cover. “We have to double time in planting mangroves,” Dizon said. “I hardly see any mangroves along Manila Bay anymore.” He added that the North Manila Bay plan includes a long row of mangroves for added protection. Dizon also cited the Mananga River in Cebu. There, damaged concrete structures were replaced with gabions on the advice of DPWH advisers. The gabions use stones taken from the river itself and slow down the flow of water, unlike concrete, which speeds it up, he said. Asked whether nature-based projects take longer to build, Dizon admitted that in the experience of foreign partners, they do. That, he said, is why

Economy BusinessMirror

www.businessmirror.com.ph

Bus operators ask Palace to lift fare hike suspension

US operators have asked President Marcos to lift the suspension of a fare increase approved by the Land Transportation Franchising and Regulatory Board (LTFRB) earlier this year, warning that regulated fares no longer cover the cost of keeping buses on the road.

base fares from P45 to P65, AUVs from P55 to P75, hatchbacks from P35 to P55, and premium TNVS from P145 to P165. Per-kilometer and per-minute charges remain unchanged. Airport taxis see the largest propor tiona l jump: t he f lagdown rate rises P40—from P75 to P115—though charges for succeeding distance and waiting time stay the same. O ve r a l l , t he adju st me nt s ref lect a 19 percent increase in fares across all regions.

P14—with the per-kilometer rate increasing from P1.80 to P2. Modern jeepneys will see a steeper P2 hike, bringing the minimum fare from P15 to P17, while the succeeding-kilometer rate moves up by 10 centavos to P2.30. For Met ro Ma ni l a a nd cit y ord inar y buses, t he minimum fare for the first 5 kilometers increases by P2—from P13 to P15—with the per-kilometer charge rising from P2.25 to P2.49. A ir- cond it ioned c it y buses get a P3 h i ke to P18 for t he f irst f ive k i lometers, w it h succeed ing k i lometers r ising f rom P2.65 to P2.98. Provincial ordinary buses will see a P1 hike for the first five kilometers, with varying perkilometer increases depending on bus type—30 centavos for ordinary buses (P1.90 to P2.20), 35 centavos for air-conditioned deluxe and super deluxe buses (P2.10 to P2.45), and 45 centavos for luxury buses (P2.90 to P3.35). Transport net work vehicle services (TNVS) will have their base fares raised by P20 plus a P15 pick-up fee, pushing sedan

Fuel eats up to 60 percent of costs

In a letter coursed through Executive Secretary Ralph G. Recto, the Nagkakaisang Samahan ng Nangangasiwa ng Panlalawigang Bus sa Pilipinas Inc. (NSNPBPI), formerly the Provincial Bus Operators Association of the Philippines (PBOAP), said rising costs have already disrupted dispatches, forced layoffs, and delayed loan payments among its members. “The cost of increases of diesel, parts, toll and wages can no longer be absorbed by the bus operators as the regulated revenue is lower than the cost of operations,” NSNPBPI Executive Director Alex Yague Jr. said in the letter. T he appea l c a l l s for “t he immediate lifting of the directive suspending the fare adjustment order” approved by the LTFRB in March. To recall, not even a full day since it was approved, Marcos ordered the suspension of the fare adjustments, citing the effects of increased fares to provide relief to commuters. Under the suspended a p p r o v e d a d j u s t m e nt s , t h e minimum fare for traditional jeepneys rises by P1—from P13 to the agency is pursuing a mix. “There’s no one-size-fits-all here,” he said. He described partnering with foreign experts as “very important.” “They’ve already been through this. They know what will work and what won’t work, what’s easy to do and what takes a long time,” Dizon said. He said the government should have sought such expertise long ago, as it already does for bridges, airports, and trains. “I guess it wasn’t done before because maybe they just wanted to steal, not really to solve the problem,” he said. Dizon also said Northern Manila Bay requires different interventions from Metro Manila. He added that the DPWH coordinates with the Metropolitan Manila Development Authority (MMDA) and local governments to avoid overlapping work. Asked how optimistic he was, Dizon recalled passing through flooded areas in Macabebe and Masantol the day before. “I told myself, ‘If I lived here, I would have lost all hope’,” he said. “But we cannot give up. And when we talk to the consultants, we gain hope because it seems there’s a solution after all. It just needs to be done right.” Lorenz S. Marasigan

THE operators said fuel now accounts for about 45 to 60 percent of their operating costs, while authorized fares have not kept up with the actual cost of service. They also said land transport is at a disadvantage compared with other modes. “Airlines and sea transport op e r ators m ay i mp ose f ue l s u rc h a r g e s i n r e s p o n s e t o extraordinary fuel-price increases. Provincial and city buses cannot independently impose a similar surcharge,” the groups said. The operators also cited a tax problem. Passenger fares are not subject to value-added tax (VAT), but the fuel they buy is. Because fares generate no output VAT against which the VAT on fuel can be credited, operators said that tax “becomes part of our cost—a burden the bus operator must absorb.”

Modernization loans, wage hike add pressure

T HE g roups s a id oper ators took out “substantial loans” to modernize their f leets as the government required. They now

carry the combined costs of fuel, modernization loans, spare parts, tires, maintenance, insurance, toll fees, and regulatory compliance. T hey added that an impending wage increa se wou ld add f u r t her pressu re. “We recognize that our employees deserve fair compensation. But higher wages must be supported by revenues sufficient to sustain both employment and operations,” they said. The operators stressed that they are not seeking government aid. “ We a re not a s k i n g t he government for ayuda. We are not asking taxpayers to carry our businesses,” the appeal read. “We are asking for a fair and sustainable fare that reflects the real cost of operating public transportation.” T he groups said operators cannot raise fares on their own, impose a fuel surcharge, cut corners on safety or maintenance, or halt operations without risking the loss of their franchises. The operators warned that if responsible operators are pushed into insolvency, commuters would face fewer buses, fewer trips, longer waits, and lost links between cities and provinces. Thousands of drivers, conductors, mechanics, and support staff would also lose their jobs. “ We understand that fare adjustments affect commuters. But keeping fares artificially below the actual cost of service does not protect the public in the long term. It merely delays the crisis until operators can no longer deploy enough safe and roadwor t hy buses,” they said. The groups urged the government to “act now—before more buses can no longer leave their terminals.” Lorenz S. Marasigan

City government rechecks flood-control facilities of Cebu development project By Carmel Pedroza

EBU CITY—The Cebu City Government is taking a closer look at the detention ponds and drainage system of the Monterrazas development after city councilors questioned whether the project can adequately handle runoff during extreme rainfall. The review comes after the Cebu City Council referred back to the Technical Infrastructure Committee (TIC) its recommendation allowing construction and other ongoing activities at the development to continue. K e n ne t h Si a s a r, c h i e f o f staff of Cebu City Mayor Nestor Archival, said the city is now reviewing the standards used to determine the size and capacity of Monterrazas’ detention ponds, including figures raised during the council’s discussions. “Initially, we are looking at the standards that became the basis of [work on] Monterrazas,” Siasar said in Cebuano during a press briefing early this week. He said the city is looking into the 300,000 -cubic-meter volume cited during the council discussions and whether this is the appropriate basis for determining the required detention capacity. The city is also examining the reported 6,000-cubic-meter capacity of a detention pond at the

development and checking whether the facility is complete. “We will check how far are they in terms of the building and putting up of detention pond,” Siasar said. The review follows concerns raised by former Cebu City vice m ayor Tom a s Osmeñ a over whether the detention ponds can accommodate the volume of water generated by the development during extreme rainfall. Siasar said the city will consult t he appropr i ate gover nment agencies, offices and private entities to establish the applicable technical standards for detention ponds based on the expected runoff from the site. “If we have a standard that specifies the exact depth, height, and shape, then we’ll make sure that Monterrazas follows it,” he said. Siasar also said detention ponds are not necessarily required to have concrete bottoms. Based on his observation of portions of the Monterrazas site, some areas had been excavated and left with soil at the bottom, which could allow water to seep into the ground. But he stressed that the city still needs to determine the applicable standard before assessing whether the facilities comply. The questions over Monterrazas’ drainage system stem from a technical review conducted by the TIC covering

the development’s approximately 118-hectare property. The committee identified 14 catchment areas and examined drainage routes, water-flow patterns, drainage outfalls, detention ponds, slope protection measures and road construction. T he repor t doc u mented on goi n g e a r t h mo v i n g , ro a d construction, slope protection and other development activities in several areas including The Rise and Montelago. The committee, however, said its review was limited to fact-finding and technical assessment. It did not establish the cause of flooding in surrounding communities or make a final finding that Monterrazas was solely or directly responsible for any flooding incident or condition. Despite the renewed review, the TIC has not recommended the issuance of a cease and desist order (CDO) against Monterrazas. Siasar said the issuance of a CDO is pr imar i ly the responsibility of the Department of Env ironment and Natura l Resources (DENR), which gave the go-ahead for the project. However, he sa id t he cit y g o v e r n m e nt c o u l d c o n s i d e r issuing one if there is a compelling basis, including a recommendation from the TIC or the Department of Engineering and Public Works (DEPW).

RCEP members renew WTO reform push

By Bless Aubrey Ogerio

EGIONAL Comprehensive Economic Partnership (RCEP) members renewed their commitment to reform the World Trade Organization (WTO) and uphold a rulesbased multilateral trading system as repeated trade disruptions test the global and regional framework for commerce and investment. The commitment was made at the fifth RCEP Ministers’ Meeting in Manila, where trade ministers from the 15 participating economies also reaffirmed their pledge to avoid measures inconsistent with RCEP obligations. In a joint media statement, the ministers said they remain committed to an open, free and fair multilateral trading system “with the World Trade Organization [WTO] at its core,” including efforts to remove unnecessary trade barriers and improve investment facilitation. New Zealand’s Foreign Affairs, Defense and Trade committee member Shane Reti said repeated trading disruptions over the past year have tested the resilience of the global and regional rules-based trading system. “As the world’s largest FTA [Free Trade Agreement] bringing together the economies in our region, RCEP is well positioned to unite us, and in doing so, can strengthen regional economic integration and support our collective resilience,” Reti said during the ministerial meeting. For her part, Indonesia Vice Minister of Trade Dyah Roro Esti Widya Putri said trade among RCEP economies reached around $5.6 trillion in 2024, while the bloc collectively accounted for about 30 percent of global gross domestic product. The meeting comes as members prepare for the first general review of the RCEP agreement in 2027, with initial work on the review already under way. The ministers tasked the RCEP Joint committee with preparing a joint scoping paper that will identify the possible areas and elements of the upgrade. The review could include provisions covering modern and emerging issues, with the aim of keeping the agreement relevant to changes in the global economy. The ministers are also expected to endorse the scoping paper and formally launch the RCEP upgrade at next year’s ministerial meeting. Further, they approved the creation of an ad hoc Accession Working Group to advance the accession process for Bangladesh, Chile, Hong Kong, China, and Sri Lanka. They also noted Uruguay’s expression of interest in joining the agreement last February. The agreement remains open to new members, subject to its accession rules. The 15 RCEP economies are the 10 Association of Southeast Asian Nations (Asean) members plus Australia, China, Japan, New Zealand and South Korea. The agreement covers roughly 30 percent of global gross domestic product and is the world’s largest free trade agreement by participating economies.

Senate…

Continued from A4

The House prosecution panel, meanwhile, maintained that the Senate sitting as an impeachment court has the authority to resolve the threshold issue, while the defense raised the possibility of challenging the matter before the Supreme Court. House prosecution legal spokesperson and counsel Benjamin Tolosa Jr. said some amici curiae had characterized the issue as a political question within the Senate’s authority. “They said it is only the Senate, sitting as an impeachment court, that has the sole power to decide on this matter,” Tolosa said. “They said this is a political question that cannot be questioned before the Supreme Court and that the Supreme Court cannot determine. It’s only for the Senate.” Defense counsel Michael Wesley Poa raised the possibility of bringing the threshold issue before the Supreme Court. Tolosa acknowledged that judicial review could be sought on grounds of grave abuse of discretion, while noting that the court had undertaken extensive proceedings before reaching its ruling. Tolosa said the Supreme Court would ultimately decide whether the issue could properly be reviewed if brought before it. He added that the impeachment trial should continue unless the high court issues a temporary restraining order. “But at the end of the day, it’s the Supreme Court who will determine that question,” he said. “Of course, if there is no TRO, then this should proceed.”

Thursday, September 24, 2026

Pork cuts, offal drive PHL meat imports–BAI

By Ada Pelonia

@adapelonia

Corn eases with China in focus as US harvest set to accelerate

HE continued rise in the Philippines’s purchases of pork propelled the country’s meat imports in January to August, according to the Bureau of Animal Industry (BAI). The latest data from the attached agency of the Department of Agriculture showed that meat imports during the 8-month period climbed by 7.6 percent to 1.14 million metric tons (MMT) from last year’s 1.06 MMT. Pork shipments rose by 5.16 percent to 602,655 metric tons (MT), accounting for more than half of the total shipments, from 573,091 MT in 2025. The bulk of the imports were pork cuts and offals at 254,524 MT and 182,969 MT, respectively. Imported pork products are expected to plug the deficit in domestic output caused by the deadly hog disease African swine fever (ASF), which continues to affect local hog output. Chicken shipments grew by almost 15 percent to 369,926

MT from 322,007 MT, based on BAI data. Mechanically deboned meat (MDM) accounted for the lion’s share of the shipments at 216,427 MT, followed by chicken leg quarter at 74,915 MT. Meat products like buffalo and lamb, also jumped on an annual basis as of August when it went up to 37,855 MT from 29,316 MT and 723 MT from 550 MT, respectively. Meanwhile, duck imports soared by 829.07 percent to 900 MT from 96 MT a year ago, according to BAI data. Beef imports, however, fell by 5.43 percent to 124,830 MT from last year’s 131,991 MT. Most of these shipments consisted of beef cuts at 81,540 MT, followed by fats at 23,540 MT. Turkey shipments also dropped by 19.72 percent to 63

PORK chops to be wrapped inside a store in Napa, California. DAVID PAUL MORRIS/BLOOMBERG

MT, from the 79 MT posted in the same period last year. Brazil was still the country’s largest supplier of beef (50,526 MT), chicken (206,476 MT), and pork (284,127 MT) products in the reference period. The country’s meat imports

jumped to over 1.6 million metric tons (MMT) in 2025, a new all-time high, based on BAI data. Data from the agency indicated that the Philippines imported 1.64 MMT of meat shipments last year, up by some

13 percent from the 1.45 MMT in 2024. Pork, the Filipinos’ favorite protein source, drove meat imports last year. Purchases rose by 16 percent to 851,760 MT in 2025 from 733,729 MT in the previous year.

PHL hammering out ASF regionalization deal with UK

HE Philippines and the United Kingdom are firming up a regionalization agreement for African swine fever (ASF) to sustain the pork trade despite disease outbreaks. During the second Joint Economic and Trade Committee (JETCO) meeting last Tuesday, Department of Trade and Industry (DTI) Undersecretary Allan Gepty and UK Minister of State for Trade Anas Sarwar underscored the “robust” collaboration between the two nations for the agriculture sector.

They pointed to the support provided by the Department of Agriculture (DA) and its UK counterpart, the Department for Environment, Food and Rural Affairs (DEFRA), to develop regionalization guidelines for ASF in the Philippines, which would be “vital for protections of UK pork exports.” Securing a regionalization agreement means the UK can continue to export pork products to the Philippines from specific areas proven to be free of the deadly hog

disease, even if outbreaks occur elsewhere within its borders. This deviates from imposing a country-wide ban, which the DA said could disrupt trade and prompt an increase in prices, thus ensuring more stable and diversified supplies. At present, the UK has only been granted a bilateral regionalization for Highly Pathogenic Avian Influenza (HPAI) or bird flu. Government data showed that the UK exported 19,918 metric tons (MT) of pork to the Philippines in 2025.

Gepty and Sarwar said both agencies are also working on capacity building on precision breeding, anti-microbial resistance, fisheries, and food safety, among others. Against this backdrop, they agreed to continue their collaboration in facilitating market access for key agricultural exports and expanding cooperation to aquaculture, biotechnology, animal and plant health, and climateresilient agriculture. With this, Manila and London are set to ink a memorandum of understanding (MOU)

on agriculture, trade, and cooperation. This will consolidate all agricultural initiatives under a dedicated framework. “More than export, it’s very important that we have collaboration with our partners in the United Kingdom when it comes to smart agriculture,” Gepty said. “We look forward to formalizing our collaboration and partnership on certain identified areas or sub-sectors in moving forward a strong agrisector market in the UK.” Ada Pelonia

Maker of Minola cooking oil to keep prices steady

HE Coconut Industry Investment Fund-Oil Mills Group (CIIF-OMG) assured Filipino consumers that prices of its cooking oil brand Minola will remain steady despite the volatility in palm oil quotations. Dennis Caparas, CIIF-OMG vice president for marketing, told the BusinessMirror that the company’s Minola pricing and sales are “relatively” stable. The state-managed conglomerate owns and produces Minola, which is derived from the coconut kernel. “If local palm oil retail prices increase and (the) price gap

versus coconut oil is significantly reduced, there may be product substitution and consumers (will) shift to coconut oil,” he recently told this newspaper. At present, Caparas said increasing the price of Minola is not on the table. “(There are) no plans to increase prices at this time as we also base our price movement vis-a-vis competitor pricing moves.” Industry sources said crude palm oil prices currently stand at $1,430 per metric ton (MT), but reached its record level this year in mid-August at $1,900 per MT. Figures from the World Bank indicated that quotations for

palm oil averaged $1,117 per MT in August. This was higher than the $1,101 per MT recorded the previous month and $1,104 per MT in June. Bloomberg reported last month that palm oil prices surged to its highest level in about 20 months due to booming biofuel demand and mounting output risks from El Niño. It added that palm oil powerhouse Indonesia, the world’s largest producer, has started its B50 biofuel mandate, which is expected to funnel more of the crop into fuel and slash its exports. The international report

indicated that El Niño also struck farmers in Indonesia and second-leading grower Malaysia, weighing on production of the tropical oil. The Department of Agriculture (DA) said it is seeking at least P300 million in 2027 to expand local palm oil production and slash the country’s reliance on imported shipments. (See: https:// businessmirror.com. ph/2026/09/09/da-govtinvestment-crucial-toslashing-palm-oil-imports/) Agriculture Secretary Francisco Tiu Laurel Jr. said

the government should allocate substantial funding to develop palm oil production, since the Philippines imports around 90 percent of its requirements. He said the government already identified a roadmap to develop 300,000 hectares of palm oil plantations, adding that reaching 100,000 hectares by 2028 would already be a major achievement. “The expansion could eventually help develop a domestic source of palm oil that could be used not only for food and industrial applications but also as potential feedstock for cleaner fuel.” Ada Pelonia

Expensive diesel weighs on MPFI production cost

EGA Prime Foods Inc. (MPFI), owner of Mega Sardines, said surging diesel is putting pressure on its production costs, which could make it challenging for the firm to maintain current prices. MPFI Chief Executive Officer Michelle Tiu Lim-Chan told the BusinessMirror the surging costs of fuel necessary to run its boats is weighing on the company, which produces the

Philippine sardines brand. “Our problem right now is the soaring diesel prices, since we use it to catch (fish),” she told this newspaper on the sidelines of MPFI’s museum relaunch in Sto. Tomas, Batangas on Wednesday. While the firm could still absorb the added cost, Lim-Chan said a prolonged upsurge in pump prices could squeeze its margins, which could prompt them to eventually pass the cost to consumers.

“As of now, we’re trying to absorb it as much as possible because we really don’t want to pass it (on to consumers), but at a certain point, if (diesel costs) really get too high, we won’t be able to handle it either, so maybe (we’ll raise prices).” Meanwhile, Lim-Chan said the company also wants to penetrate other markets, such as India and Mexico. The MPFI currently exports to 40 countries.

“I’ll be going to India where we’ll offer curry masala sardines at the end of this month,” she said. “While we have (exports) to Central America, it’s still small. So, we want to explore other markets like Mexico.” The company recently expanded into the mainstream United States grocery market, with Lim-Chan noting that products cover Kroger and its banners Mariano’s, Fry’s, Dillons

and Pick ’n Save. Mega is currently the first and only Filipino brand listed with Kroger, according to the company. (See: https:// businessmirror.com. ph/2026/08/19/exec-megasardines-bullish-on-usbusiness-prospects/) MPFI said its sardines brand has also recently entered Azerbaijan, Kenya and Jordan. Ada Pelonia

ORN was moderately lower Tuesday as traders waited to see if China will buy any US grain during this week’s summit in Washington while drier weather conditions should allow farmers to ramp up harvest activity. Futures fell as much as 1.4 percent in Chicago. Prices had risen sharply in the previous session, in part on optimism China will start chipping away at a pledge outlined by the White House for $17 billion in agriculture purchases beyond an earlier deal for soybeans. China as recently as 2022 imported over $5 billion worth of American corn, raising expectations that any program aimed at fulfilling a buying target would need to include the most widely grown US crop. So far, there are few indications of China purchases ahead of Thursday’s summit other than recently passing the halfway mark on a 25-million-ton soy target. “Corn would likely be a large portion of these import targets based on historical Chinese import data,” StoneX risk management consultant Matt Campbell said in an email. However, he pointed out that China’s domestic corn prices are relatively cheaper than US supplies, making purchases uneconomical. “The US is not competitive price-wise today,” he said. Prices for corn and other crops are hovering near the highest levels in years after hot summer weather squeezed yields while fighting between Russia and Ukraine in the Black Sea disrupts grain exports and the US-Iran war keeps oil prices elevated. Uncertainty surrounding the summit is limiting further gains for now. That’s as harvests of both corn and soybeans advanced more than analysts expected while US farmers also caught up on winter-wheat planting, according to US Department of Agriculture data released late Monday. Conditions are expected to remain relatively dry in the eastern half of the US Midwestern crop belt, though wetter weather is seen in the northwestern part of the region. Meanwhile, a joint report published Tuesday by the National Corn Growers Association and the American Soybean Association said that farmers remain under ongoing economic pressure even with the recent gains in prices. Many farmers have been receiving less for their crops than the costs for equipment, seed, fertilizer, fuel, chemicals and land necessary to produce them. “Many growers are still managing financial pressure that has built over multiple crop cycles,” said Krista Swanson, chief economist at the NCGA and an Illinois farmer. The situation has been exacerbated by the war in Iran, which has sent diesel prices to record highs just as farmers are using heavy machinery to bring in their fall crops. Bloomberg News

Thursday, September 24, 2026

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Thursday, September 24, 2026

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Thursday, September 24, 2026

Marcos vows to build system protecting Filipino seafarers from emerging risks

By Samuel P. Medenilla

@sam_medenilla

ECOGNIZING the important role of Filipino seafarers in global trade, President Ferdinand Marcos Jr. has committed to continue building on a “system” that will protect them from emerging risks including the evolving skill demands of the maritime industry and geopolitical tensions in the Middle East and other parts of the world. “They have spent generations connecting the Philippines to the world. We owe it to them to build a system worthy of their sacrifice, their trust, and their dreams,” the Chief Executive said in a speech at the Philippine Maritime Convention 2026 at the Manila Hotel last Wednesday. He said Filipino sailors are at risk of possible displacement from new technologies such as digitalization in ships, which they may not be trained to use. They also face dangers from the armed conflicts in the Middle East, particularly in the Strait of Hormuz and the Black Sea. The Department of Migrant Workers (DMW) earlier said that tensions had resulted in five Filipino sailor fatalities in the Strait of Hormuz, and three others from the ongoing conflict between Ukraine and Russia in the Black Sea.

However, on Wednesday, DMW Secretary Hans J. Cacdac corrected himself and said that there were only four, who died in the Strait of Hormuz after their ships were attacked. The four casualties include, the one, which was earlier reported missing last February 23 and the other three died from the attacks in the Strait of Hormuz last August. “We are still confirming the fifth one, which we mentioned yesterday because we got a report that the incident did not happen in the Strait of Hormuz,” Cacdac said in Filipino in an interview with reporters last Wednesday.

Maintaining the status quo TO prepare Filipino seafarers from new demands of the maritime industry, Marcos said the government strengthened the implementation of the Standards of Training, Certifica-

Comelec exempts ₧4.28-B LTFRB programs from BSKE spending ban

HE Commission on Elections (Comelec) has allowed the Land Transportation Franchising and Regulatory Board (LTFRB) to disburse P4.28 billion for four transport programs during the election spending ban for the Barangay and Sangguniang Kabataan Elections (BSKE). Comelec Chairman George Erwin M. Garcia approved the exemption following the recommendation of the commission’s law department on the LTFRB’s request to continue implementing the programs during the restricted period. Covered by the exemption are the P1.785-billion Fuel Subsidy Program, P1.5-billion Public Transport Modernization Program, P940-million Love Bus “Libreng Sakay” and P51-million Service Contracting Program for the EDSA Busway Extension. However, Comelec attached conditions to ensure that the programs would not be used to influence BSKE. Elective officials, candidates, nominees and aspirants are barred from

being present during the distribution of assistance under the covered programs. LTFRB must also ensure that implementation does not influence the elections and must submit the guidelines governing the programs to Comelec. Any inconsistency between the implementation and the submitted guidelines may result in the revocation of the exemption. The transport agency is likewise required to submit periodic written reports on disbursements made under the four programs. Comelec’s exemption applies only to the identified LTFRB programs, while the general restriction on the release, disbursement or expenditure of public funds remains in effect from September 18 to November 1. Other election-period restrictions cover certain public-works activities and government personnel actions, including the appointment or hiring of new employees and the creation or filling of new positions. Mary Jade Jadormio

DA eyes millet as alternative feed to cut corn reliance and costs

that this is not a criminal action per se, the articles of impeachment will show that the charges are criminal in nature, Your Honor,” Sison said. Diokno responded by saying, “This is clearly not a criminal case, by any stretch, there is no criminal liability involved in this case. This is a case involving the fitness of the Vice President to continue in office and as we all know sui generis. Therefore it would be improper and may even lead to misconceptions if the respondent‘s counsel will refer to the Vice President as the accused.” However, Sison said that records of the trial will show that “at no point in time, from the start of this hearing until today that the defense referred to the Vice President as accused alone.”

HE Department of Agriculture (DA) is exploring millet as an alternative feedstuff for corn in its bid to slash production costs and minimize exposure of feed supplies to weather-driven disruptions. Agriculture Secretary Francisco Tiu Laurel Jr. said he examined millet and other feed ingredients during his recent trip to India whose experience with the drought-tolerant crop could provide lessons for Philippine livestock producers. The DA explained that millet is a group of small-seeded cereal grasses used for food and animal feed. It can grow under relatively dry conditions, requiring less water than corn, thus making it a potential alternative when drought affects conventional feed crops. For livestock producers, the DA said the economic consideration is just as important. Since corn is a major feed ingredient, any disruptin in production will translate into higher input costs. “Developing other feed sources could give farmers and feed manufacturers more flexibility, although commercial adoption would still depend on yield, nutritional value, processing requirements and cost.” Meanwhile, the DA noted that feed initiative forms part of the agency’s efforts to broaden the domestic carabao and dairy industries. Tiu Laurel said building domestic capacity for feed production and processing is key to strengthening the livestock industry. “When communities can grow, process, and mill their own feed, we lower costs, raise productivity, and make our food system more resilient,” he said. The Philippine Carabao Center (PCC) recently launched a P237.9-million facility housing, dubbed the world’s first laboratory dedicated exclusively to sex-sorting buffalo semen. Using flow cytometry, the laboratory separates sperm carrying X and Y chromosomes with about 90 percent accuracy. With this, breeders can target female offspring for dairy production or males for meat and draught work.“The sorted semen is cryogenically

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Defense and prosecution clash over use of ‘accused’ for VP Sara at impeachment trial HE defense and the prosecution clashed anew regarding the terminology to be used to address Vice President Sara Duterte during the Day 29 of the impeachment trial. Defense lead counsel Sheila Sison argued with House prosecutor Manuel“Chel”Diokno after he challenged the defense’s use of the term“accused.”Diokno said that an impeachment trial is sui generis or unique and not a criminal proceeding. Diokno expressed concern that using“accused”might mislead the public and unfairly imply criminal nature. “The defense, or the counsel for the respondent did not refer to the respondent as accused by itself but as respondent-accused, Your Honor. If the prosecution wishes a clarification why the defense refers to the Vice President as respondent -accused in this proceeding even though the prosecution feels

tion and Watchkeeping for Seafarers Convention and Code and kept maritime education, training, assessment, and certification systems aligned with evolving international standards. He said DMW signed the 2026 Sea-Based Rules and the updated Standard Employment Contracts for Overseas Filipino Seafarers to enhance their protection and accountability. DMW also established the Seafarers’ Welfare Center to provide welfare, training, healthcare, and legal support services for Filipino seafarers and their families. “As security risks have intensified in war-risk areas, the DMW and the OWWA have heightened safeguards for our seafarers while strengthening our capacity for emergency repatriation,” Marcos said. “Through the Full-Cycle National Reintegration Program, we provide livelihood, wellness, financial literacy, and other assistance based on their needs and on their skills,” he added. The said reform, he said, will help the government maintain its reputation as the top supplier of qualified seafarers. DMW said there are around 600,000 Filipino sailors, who were deployed abroad. “Preserving that hard-earned reputation carries a greater responsibility: to remain a leading global maritime player while ensuring that all Filipino seafarers know that their country stands firmly behind them,” Marcos said.

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DOT-7 urges tourism academe to help promote Cebu heritage

By Carmel Pedroza

EBU CITY—The Department of Tourism in Central Visayas (DOT-7) is pushing schools offering tourism and hospitality programs to become more active partners in preserving and promoting the region’s cultural heritage, as the agency seeks to strengthen the industry’s workforce and visitor experience. DOT-7 OIC Regional Director Gelena Asis-Dimpas said higher education institutions have a role beyond preparing students for tourism-related careers, particularly as many campuses are situated near historic sites and tourism attractions. Speaking during the University of San Jose-Recoletos’ (USJ-R) celebration of the 59th ASEAN Founding Anniversary, Asis-Dimpas encouraged students and faculty members to take a more active role in welcoming visitors and telling the stories behind Cebu’s heritage sites. USJ-R is located within Cebu City’s Heritage District, putting its academic community in close proximity to several of the city’s historic landmarks. Asis-Dimpas suggested that students could help visitors navigate the area through informal walking tours and conversations about the history, traditions, and significance of the sites. She said these seemingly simple interactions can contribute to the broader tourism economy.

“Tourism is an industry where every handshake, every smile, and every story has a potential to trigger economic activity,” Asis-Dimpas said. The DOT-7 official also called for closer coordination between tourism industry players and academic institutions, particularly in ensuring that tourism and hospitality curricula remain responsive to changes in the industry. She cited expanded internship and industry-immersion opportunities, along with continued DOT-accredited training programs, as areas where schools and the tourism sector could deepen their partnership. One example is DOT-7’s Project H.A.R.A.N.A., or Hosting ASEAN with Readiness, Authenticity, Nationalism, and Agility, which brought together tourism workers, volunteers, faculty members, and students to assist in various tourism-related operations during major ASEAN activities hosted in the region. USJ-R was among the institutions whose tourism students and faculty

participated in the initiative, which provided personnel for visitor reception, billeting, arrivals, and tour operations. The project gained added relevance as Central Visayas hosted two major ASEAN events this year—the ASEAN Tourism Forum in January and the ASEAN Leaders’ Summit in May. The events brought foreign leaders, delegates, and other visitors to Cebu and provided an opportunity for the region to demonstrate its capacity to host large-scale international gatherings. For DOT-7, the experience also highlighted the importance of having a tourism workforce that is trained, adaptable, and familiar with the region’s destinations and cultural assets. Asis-Dimpas also pointed to the region’s potential to expand its position as an education tourism destination, while highlighting the contribution of tourism professionals and tour guides to the national “Discover More to Love” campaign. The campaign, she said, provides an avenue for Central Visayas to build greater awareness of its destinations by creating meaningful and memorable experiences for visitors. The DOT-7 is seeking to sustain partnerships with academic institutions as it works to position Central Visayas not only as a tourism destination but also as a hub for culture, education, and regional cooperation within the ASEAN community. The call was made as USJ-R joined other academic institutions in marking ASEAN’s founding anniversary under the Philippine chairmanship theme, “Navigating Our Future, Together.” The university’s celebration featured an ASEAN Country and Food Exhibit showcasing the cultures, traditions, and culinary practices of the bloc’s 11 member states.

DepEd vows smooth implementation after Congress ratifies voucher law By Claudeth Mocon-Ciriaco @claudethmc3

HE Department of Education (DepEd) assured stakeholders that it is ready to implement the expanded subsidy program through its strengthened private school assistance framework after Congress ratified the Basic Education Voucher Assistance Act. The new legislation, which consolidates Senate Bill No. 1981 and House Bill No. 4744 based on DepEd’s priority legislative proposal, institutionalizes voucher subsidies across all basic education levels from Kindergarten to Grade 12. It also extends financial aid beyond low-income brackets to include qualified learners from middle-middle-income families. Designed to ease public school conges-

tion, the law enables qualified learners from overcrowded public campuses or areas lacking nearby public facilities to enroll in participating private schools. Education Secretary Juan Edgardo “Sonny” Angara, who commended the Congress, said the measure aligns with DepEd’s internal policy overhauls under DepEd Order No. 11, series of 2026, which updated the Enhanced Government Assistance to Students and Teachers in Private Education (E-GASTPE) framework. “This legislation provides a pragmatic solution to public school constraints while giving families more equitable access to quality schooling,” Angara said. “By expanding the voucher framework, we are building more sustainable partnerships with private educational institutions, which have always been integral to our national strategy for

human capital development.” Meanwhile, the DepEd has reached 94.9 percent of its 50,000-slot target after private sector partners pledged 47,439 work immersion slots for Senior High School (SHS) learners following the nationwide rollout of the 2026 National Work Immersion Fair. The massive industry support covers 1,565 distinct job roles across key sectors, including accommodation and food services, education, agriculture, forestry and fisheries, and administrative support services, aimed at dramatically boosting graduate employability. Emphasizing President Ferdinand R. Marcos Jr.’s push to ease financial burdens on Filipino families, Angara said that the Basic Education Voucher Assistance Act changes address the rising indirect costs of education that strain household budgets.

Boracay Water joins Malay’s reorganized WMC

ORACAY Water, a Manila Water Non-East Zone operating unit, has reaffirmed its commitment to protecting Boracay Island’s fragile environment as it joins the newly reorganized Wastewater Management Council (WMC) of the Municipality of Malay. Malay’s WMC is a multi-stakeholder body tasked with strengthening wastewater governance, environmental protection, and public health initiatives across the island. The reorganization of the WMC, through Executive Order No. 22, Series of 2026 signed by Malay Mayor Frolibar Bautista, reinforces the local government’s efforts to address increasing

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preserved for artificial insemination programs nationwide.” The PCC said it aims to produce about 170,000

wastewater management challenges brought about by population growth and tourism activities. It is composed of representatives from key government agencies, utility providers, barangays, and environmental stakeholders; the Council serves as the municipality’s primary body for monitoring sewerage connections, including oversight of wastewater management, environmental protection, and public health initiatives. These include monitoring sewerage connections, inspecting septic systems, ensuring compliance with effluent standards, and enforcing Municipal Ordinance No. 550, Series

of 2024 which are all essential in safeguarding Boracay’s water resources. Boracay Water, as one of the island’s key water and wastewater service providers, plays a critical role in supporting the municipality’s environmental objectives through continuous investments in sewerage infrastructure and wastewater treatment facilities. As of the first half of 2026, the Company has achieved 3,079 sewer service connections across Boracay, including 161 new connections added during the period. Boracay Water’s sewer coverage has reached 67.52% of the island’s population, while its sewer network covers 67% of its service area. Jonathan L. Mayuga

sex-sorted semen straws annually, particularly to increase female offspring and expand the local dairy herd. The agency said this initiative comes against a significant deficit in domestic output. At present, Philippine milk production only meets less than 5 percent of national demand,

leaving the country reliant on imported dairy products and breeding stock. Local production of sex-sorted semen could then lower procurement costs, reduce exposure to livestock disease risks associated with foreign sourcing, and provide breeding material better adapted to Philippine conditions. Ada Pelonia

40 Filipino seafarers safe after ship collision in Singapore Strait By Samuel P. Medenilla @sam_medenilla

HE Department of Migrant Workers (DMW) said the 40 Filipino crew members of the Panama-flagged bulk carrier First Margaux were unhurt after their ship collided with the China-registered fishing vessel Lu Qing Yuan Yu. The incident happened September 17, 2026 at the Singapore Strait and is now being investigated by Singaporean authorities. The Maritime and Port Authority of Singapore said the Lu Qing Yuan Yu took on water, but it remained afloat after the collision incident. In an interview with reporters last Thursday, DMW Secretary Hans J. Cacdac said they have identified the 40 Filipino sailors of First Margaux. “Rest assured we have identified all the 40 Filipino seafarers by name and that we are reaching out to all of their families as we confirm their status,” he said. As of press time, Cacdac said they have yet to receive any report from the manning agency of the said sailors they were hurt from the incident. He said they will provide the necessary aid to the affected sailors. “Of course rest assured because of the instructions of the President, we are reaching out to the families and we will assist them. Of course our number one priority is to bring them home,” Cacdac said.

Authorities zeroing in on person who incited Banga shooter—Remulla By Jonathan L. Mayuga @jonlmayuga

UTHORITIES are actively pursuing a person suspected of influencing the minor involved in the deadly school shooting in Banga, South Cotabato, through online conversations, Department of the Interior and Local Government (DILG) Secretary Jonvic Remulla said. The person, according to the DILG chief, is in the Philippines and authorities have identified his location. He said the person preyed on the student’s insecurities and encouraged violence by promising that such an act would bring recognition. “They prey upon their insecurities, telling them that they will be glorified if they do something like this,” he said. “It’s a very insidious way of inciting that kind of hate.” Remulla earlier said investigators had linked the junior high school student’s actions to exposure to the deep dark web. “They now glorify violence through the deep dark web. It’s very alarming,” he said. Following school shootings in Tacloban, Zamboanga, and Cotabato, Remulla said authorities are taking online threats related to school shootings seriously. He cited four students previously caught over Facebook posts. He said the government is pursuing a broader response to school violence, including measures to limit minors’ access to social media and websites, similar to the approach taken in Australia. Remulla also urged parents to guide their children and watch for signs that they may be drawn into violence online. “We’re asking the parents to watch their children kaysa we discover it too late,” he said.

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“In fact we are consistent in referring to the Vice President as respondent-accused if the worry of the gentleman is supposed a misconception of the use the term accused in conjunction with the term respondent -accused then I think there is no greater danger than a misconception in the idea that the constitutional presumption of innocence does not apply in this impeachment proceeding or that the Bill of Rights under which that guarantee is imbedded does not apply to this impeachment case,” Sison explained. Presiding officer Francis “Chiz” Escudero sided with the defense and rejected the motion of Diokno to delete or have it stricken from the record. Claudeth Mocon-Ciriaco

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Nauru is renamed as Naoero By Ted Anthony

The Associated Press

EW YORK —His voice forceful and proud, he rose in front of the world’s largest gathering of leaders on behalf of his nation and announced that he had something important to say. The tiny South Pacific island nation of Nauru, its president said, had altered its name—and reclaimed its heritage in the process. “I have traveled far,” David Adeang said Tuesday at the United Nations. What was known to the world for many years as Nauru, Adeang said, was returning to the name and pronunciation of its past: Naoero. “There are moments in the life of a nation when its people are called to remember who they have always been,” Adeang said in his speech at the UN General Assembly in New York. “This is such a moment for us.” Though the names are similar and, in essence, the same word, the shift in spelling and pronunciation represents the nation’s effort to recast—rebrand, even—itself for its own people as much as for the outside world. He called it not a change but an effort to “affirm a truth.” “For many years, the world has known our country as Nauru. Nauru is how our name sounded to those who found it hard to say, and the world kept it,” Adeang said. “But it is not the name our people used among themselves.” The nation, an eight-square-mile island with about 12,000 people, became independent in 1968 after longtime colonial rule under the United Kingdom, New Zealand, Australia and Germany. It announced the renaming in August after signaling its intent in February. The country’s international code is changing from NRU to NRO and its people will be known as dei-Naoero instead of Nauruan. Commonly known abroad by the pronunciation of Now-roo, the new name is spoken as Now-ero. Across the past century, other nations have renamed themselves or tweaked their names for various reasons, from modernization to rejection of colonialism. The African nation of Eswatini changed its name from Swaziland in 2018. In Africa, Dahomey became Benin after a 1975 coup and Rhodesia became Zimbabwe in 1980 after shedding colonial rule. Siam became Thailand in 1939 to foster ethnic unity and shed a foreign label. Turkey, meanwhile, has been officially named Turkiye since 1920 but requested in 2022 that the United Nations use the spelling and pronunciation as its name in English as well—in part to avoid confusion by underscoring that the bird wasn’t the word. The list goes on. Persia became Iran. Burma became Myanmar. Upper Volta is now Burkina Faso, Gold Coast is Ghana and Ceylon is Sri Lanka.

Trump signs US-Denmark-Greenland pact for Arctic security, ease tensions By Farnoush Amiri & Jamey Keaten

The Associated Press

NITED NATIONS—President Donald Trump on Tuesday signed an agreement with Denmark and Greenland aimed at strengthening Arctic and North Atlantic security, paving the way for more US bases in Greenland and easing tensions over his repeated calls for the vast island to become part of the United States. The signing on the sidelines of the UN General Assembly in New York comes days after Trump announced the deal to bolster the US military presence on Greenland but keep it under Danish control. The agreement would still apply if Greenland eventually chooses independence. “This is tremendous for Europe and for the United States and for everybody,” Trump said

just before the agreement was signed. “And for Greenland, it’s going to be incredible.” Trump has expressed his desire to acquire Greenland since as long ago as 2019 and, during his second term, issued threats to seize the semiautonomous territory from Denmark, a NATO ally. On Tuesday, he did not respond to questions about whether a US acquisition of Greenland was off the table.

The Associated Press

EW YORK—On a day of highstakes diplomacy on the global stage, President Donald Trump began his United Nations visit by telling a prominent US journalist, “You should not be here.” “It’s an honor to be here,” Trump said as he entered UN doors Tuesday ahead of his speech to the General Assembly and faced Kaitlan Collins of CNN, a frequent target of his ire. “I’m surprised that CNN is here covering me. You should not be here covering me. You said you weren’t going to cover me,” he said. As Collins noted later on air, CNN said nothing of the kind. The administration had banned CNN from White House grounds days earlier—along with MS NOW and Politico—and removed the network from pool duty. But CNN had been admitted into the UN as regularly credentialed media. The tense moment was a stark reminder of how dramatically the bitter conflict between Trump and news outlets whose coverage he objects to as “fake news” has

PRESIDENT Donald Trump signs a security agreement with Denmark’s Prime Minister Mette Frederiksen and Greenland’s Prime Minister Jens-Frederik Nielsen during the United Nations General Assembly, on September 22, 2026, at the UN headquarters. AP/JULIA DEMAREE NIKHINSON

Officials from the US, Greenland and Denmark negotiated for months behind the scenes, searching for solutions to address some of Trump’s security concerns about the mineral-rich island. Trump’s designs on Greenland strained relations within NATO, with Danish Prime Minister Mette Frederiksen warning a US takeover would amount to the end of the Atlantic alliance. The standoff unsettled many

of Greenland’s roughly 56,000 people and drove a wedge between the US and Denmark and its European Union partners, who stepped up security exercises on and monetary support for the island. Trade and hopes for a resource grab have factored into concerns about Greenland’s future. About two-thirds of its territory sits inside the Arctic Circle, where melting sea ice has opened additional shipping routes.

The United States was prominent in Greenland for decades but, since 1945, the US military presence in Greenland has decreased from thousands of soldiers on 17 bases and installations to roughly 200 soldiers on the remote Pituffik Space Base in the northwest. The base supports missile warning, missile defense and space surveillance operations for the U.S. and NATO. Addressing the United Nations General Assembly ahead of the signing, Trump said the US would “immediately begin the process of developing a large military presence in the appropriate locations,” including “ building two very major military bases.” Denma rk ’s pa rl ia ment ap proved a bill last year to allow US military bases on Danish soil, widening a 2023 agreement made with the Biden administration that gave US troops broad access to air bases in Denmark. Trump previously insisted the US needed to “take Greenland,” to prevent Russia or China from doing the same. Though Trump said he would rather “ make a deal ” for the territory, he added, “one way or the other, we’re going to have Greenland.”

Xi, Trump seek safe AI without slowing the race for supremacy By Bloomberg News

I JINPING and Donald Trump will sit down this week to hash out a plethora of thorny issues from trade to Taiwan. One thing both sides agree on: neither can afford to tap the brakes on AI. While Silicon Valley debates the possibility of artificial intelligence wiping out humanity, Washington and Beijing appear more worried about global technological supremacy. The two countries have signaled no intention to slow down AI development—a debate that flared anew after Anthropic PBC co-founder Dario Amodei warned of the dangers of unbridled progress in a 3,800-word communique. Trump almost immediately dismissed calls for moderation as a “hoax” and vowed to maintain American leadership. Beijing sees little reason to slow down in part because it’s already behind the US in AI—though closing the gap—and constrained by American curbs on access to advanced chips by Nvidia Corp.

Just two days before Trump’s set to personally greet Xi at a military airbase, Alibaba Group Holding Ltd. declared it was building a mega model of up to 10 trillion parameters, rolling out AI chips it called China’s most powerful, and planning a 20-gigawatt data center buildout that could translate into $160 billion of cloud revenue, by one estimate. That capped a frenetic few days for Chinese AI, with Z.AI Co. and Xiaomi Corp. showcasing how their AI systems improve themselves, and Huawei Technologies Co. accelerating the debut of high-powered AI chips intended to replace Nvidia’s processors. Manus—the agentic AI pioneer finally clear of Meta Platforms Inc.—sought to raise capital at a $4 billion valuation to bankroll its next act. “Neither side wants to give up the development or slow down the development,” said Elly Rostoum, a senior fellow with the tech policy program at the Center for European Policy Analysis and a former US intelligence analyst. “But they understand

‘You should not be here,’ Trump tells CNN at UN By Jocelyn Noveck

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escalated in just a few days. The current ban was the subject of a joint lawsuit filed Monday by the three outlets, calling the decision selective—based on the content of their coverage—and asking a judge to find Trump’s move unconstitutional. Late Tuesday, the administration filed a response urging the court to reject the news outlets’ request, saying “access to the White House is a privilege—not a right.” The government argued that White House officials can control journalists’ access to “restricted presidential areas,” such as the Oval Office. “Significantly, Presidents have long decided which journalists should receive privileged access, which has varied substantially by administration,” they wrote. A hearing is scheduled for Wednesday afternoon.

Trump says he has a right to ‘clean out fake news’

ON Tuesday, Trump doubled down on his remarks and said negative coverage was dangerous for the country. Asked whether he would allow the outlets back in if the court rules against the White House, he said, “Well, it probably

will, because this is a judge who’s not a particularly fair judge.” He was referring to US District Judge Timothy Kelly, whom he appointed in 2017 and who ordered a CNN journalist’s access restored in a similar case in 2018. “So you never know,” Trump added. “I think we have a right to clean out fake news.” Trump’s comments echoed others he’s made since announcing the ban Friday. He has referred to “purposely negative stories” as justification for the ban. The ban and lawsuit are part of a long-running conflict between the president—especially in his second term— and media outlets he finds unfavorable. Trump has responded in the courtroom, or with regulatory action. He’s also lashed out at individual reporters in person or over social media, sometimes in strikingly personal terms—as he has with CNN’s Collins, most recently in a speech at the White House Correspondents’ Association dinner. On air, after her exchange with Trump on Tuesday, Collins said: “We never said we were not going to cover the president. We will do our best to cover him each and every day.”

that this is serious enough that they have to talk, that the companies have to talk.” The shared desire by the US and China to push forward suggests Thursday’s summit is more likely to produce narrowly defined guardrails rather than speed limits on AI, even as they take tentative steps to build consensus around critical risks. US Treasury Secretary Scott Bessent said Washington proposed an emergency hotline for AI incidents and discussed a dialogue mechanism with his Chinese counterparts at a Sunday meeting in New York. “China already sees itself as being forced to pace because of US tech containment and chip export controls,” Selina Xu, who leads China and AI policy research in the office of former Google chief Eric Schmidt, said in an online post. “One remark I’ve heard from Chinese policymakers is ‘we’re already being slowed down.’” To close the gap with the US, China has seized on open-weight AI as a strategy to catch up at home and expand its influence abroad. Beijing is keen to keep up that momentum.

Breakout models such as DeepSeek’s R1 and Moonshot ’s Kimi K3 can be downloaded and adapted by developers worldwide, allowing Chinese laboratories to build on one another’s work and squeeze more performance from limited computing resources. This has also won fans overseas and helped embed Chinese software in workflows and products, paving the way for monetization. Moonshot, for example, is building a team of specialized engineers to help clients deploy and customize models, starting in China before expanding globally. It’s also entering commercial partnerships with American cloud providers like Fireworks AI and Baseten to host them. Z.ai has helped Malaysia build sovereign AI infrastructure, while Saudi Arabia’s statebacked Humain commissioned MiniMax Group Inc. to build a national platform based on one of the Chinese startup’s open models. Their popularity—a combination of cost, flexibility and performance—has threatened the ability of leading US AI labs to charge for access to their proprietary

offerings. Anthropic and OpenAI have both alleged that Chinese companies use the output from their frontier models to create rival systems at a fraction of the cost, a process known as distillation. The MiniMax deal drew immediate backlash from US national security hawks. Chris McGuire, a senior fellow at the Council on Foreign Relations, wrote on X that Washington was “getting played” after agreeing to sell AI chips to Middle Eastern nations on the promise they would rely on an American software stack—only for Saudi Arabia to adopt Chinese technology. The risk is that these allegations, which Bessent and other officials have echoed, could lead to tougher enforcement of export controls to starve China of the computing resources required to keep up. The focus on AI risks suggests a shift in emphasis for a rivalry long dominated by US limits on China’s access to advanced chips. Export controls remain a major source of tension and may still emerge during Xi’s visit, but they have received less attention in the days before his arrival.

Republicans dump cash into red states vs Democrats in midterms By Jill Colvin & Aaron Kessler The Associated Press

ASHINGTON—Republicans are growing increasingly grim about their chances in November, with aligned groups pumping money into reliably red states and candidates scrambling to distance themselves from unpopular White House policies. From Texas to Ohio and Alaska to Iowa, campaigns are grappling with a fed-up electorate that is sour on the president and angry over soaring fuel prices driven by an unpopular war. While Republicans are flush with unprecedented cash that could move the needle in some races, overall the mood is glum heading into the election’s final stretch as campaigns try to counter palpable Democratic enthusiasm to maintain their narrow lead in the House and Senate this November. “Everybody is tired. You see the poll numbers. Everybody is cranky about gas prices,” said Jeanette Hoffman, a Republican strategist from New Jersey. “The party in power is playing defense. This is a referendum on the incumbents.”

After mounting pressure from endangered candidates in battleground states, groups affiliated with President Donald Trump finally began unleashing their stockpile of campaign cash earlier this month, joining with Republican committees that have amassed a record fortune that dramatically eclipses their Democratic counterparts. “Republicans have air superiority. House Democrats are scrambling to catch up with the very limited resources they have,” said Mike Marinella, a spokesperson for the National Republican Congressional Committee. But the spending underscores the extent to which Republicans are playing defense. Three Trump-aligned groups—MAGA Inc., No Going Back PAC and Safety and Affordability PAC—have spent more than $163 million on advertising and air time since September 1. Nearly 40 percent of that money more than $63 million—has been spent in states and districts where Trump won by 10 percentage points or more in the 2024 election, according to an Associated Press analysis of data from AdImpact, which tracks media spending and ad buys.

That includes 12 House districts and three states with major Senate races. In Texas, Republicans have spent nearly $107 million on ads and reservations since the beginning of the month trying to bolster scandal-plagued attorney general Ken Paxton in his Texas Senate race against Democratic state Rep. James Talarico. The spending, which is for ads through Election Day, is nearly four times as much as Democrats in a state Trump won by nearly 14 points. Further north in Ohio, Republican spending to defend Sen. Jon Husted has exceeded $152 million, compared to $90 million on behalf of Democratic nominee Sherrod Brown, according to AdImpact. Terry Casey, an Ohio Republican strategist, said both Republicans and Democrats are “kind of sitting on pins and needles because of the national and economic circumstances.” The outcome, he said, would depend on whether Democrats can turn out voters. States that Trump won by wide margins—like Texas, Iowa, Ohio and Alaska— have become some of the most competitive battlegrounds in the midterms.

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Trump hails Iran talks even as Tehran sets ‘firm positions’ By Josh Wingrove, Jennifer A. Dlouhy & Patrick Sykes

Bloomberg News

NITED STATES President Donald Trump said his officials had “very good” talks with Iranian envoys in New York, reviving hopes for a diplomatic off-ramp hours after he threatened to “annihilate” the country’s ruling regime.

Steve Witkoff, a Trump envoy, and Jared Kushner, the president’s son -in-law, participated on behalf of the US. Witkoff said the negotiations were conducted through mediators

shuttling between each delegation. Iran’s state media said the country was represented by the foreign minister, Abbas Araghchi, and that the US had requested the meeting. Iran laid down “firm positions”

for the reopening of the Strait of Hormuz, IRIB News reported, citing an unnamed source. Tehran’s conditions include the US immediately lifting a naval blockade, unfreezing Iranian assets and ending the war “on all fronts,” IRIB said, in an apparent reference to Lebanon and Yemen. Witkoff and Kushner led negotiations with Iran that preceded the US and Israeli military campaign that began in late February. The war, now almost seven months old, has roiled much of the Middle East and caused energy prices to soar, hurting Trump and his Republican party ahead of midterm elections in early November. Trump said the three-hour session—held on the sidelines of the United Nations General Assembly—was “very productive” and

Senior NATO leader warns Putin is ‘dangerous’ as Ukraine war drags on By Emma Burrows The Associated Press

A L L I N N , E s to n i a — R u s s i a n President Vladimir Putin is becoming “increasingly cavalier, dangerous and risk accepting,” as his war in Ukraine drags on and as he seeks to divide Western allies, NATO’s deputy commander in Europe said Tuesday. Air Chief Marshal Sir John Stringer spoke to The Associated Press at a security conference in Estonia amid warnings from some European leaders that Moscow is planning to test NATO’s collective defense pact with bolder attacks that have already included sabotage and espionage. Stringer warned that NATO members need to be aware of the “febrile environment” and be careful in their response because Putin would like to provoke the alliance into an “overreaction.” Polish Prime Minister Donald Tusk said last week that Russia might target NATO nations with deliberate drone or

missile strikes while claiming they were accidental. French President Emmanuel Macron agreed and has asked his government to prepare a plan to protect critical infrastructure against potential drone attacks and cyberattacks. Other European officials say the threat from Russia is serious but have called for calm. A British defense official, speaking on condition of anonymity to discuss sensitive security matters, said the UK assessment is that Putin is not seeking direct confrontation with NATO. O fficials in Estonia, Lat via and Lithuania, which border Russia, also have been more cautious about the prospect of a serious escalation after years of calling on Western nations to adopt a more hawkish approach to Moscow. “Ukraine is fighting. Russia is absorbed in Ukraine. We do not observe any buildup near our borders. And from that part, I think that most would agree that the perspective of direct military attack is

not correct,” Latvian President Edgars Rinkevics told a small group of reporters late Tuesday on the sidelines of the U.N. General Assembly in New York. The US ambassador to NATO, Matthew Whitaker, dismissed any concerns that Russia may be testing the transatlantic military alliance, telling the AP following a panel discussion in Des Moines, Iowa, on Tuesday evening that “Putin does not want a conflict with NATO.” He said drone incursions into countries like Romania or Poland were largely the result of electronic warfare and unintentional but noted that hybrid ac tivities like sabotage “are more concerning.”Whitaker also warned against “overreacting” because “that’s exactly what I think our adversaries would want or hope for.” European countries have already faced multiple incursions of Russian drones—and several missiles—as well as a campaign of covert Russian disruption which began after Putin’s invasion of Ukraine.

another was being planned for the near future. The talks were the first between Iran and the US since around midJune, shortly after the signing of a short-lived truce. Oil has pared gains this week on signs of renewed diplomacy between the sides to end the conflict or at least restart a ceasefire. Brent crude is down more than 5 percent to around $98.50 a barrel. It’s still up 62 percent this year, while US diesel pump prices are at a record high. But it’s not clear what, if any, progress was made in New York and the US president has recently predicted the conflict will drag on past the midterms on November 3. “I feel very good right now,” Witkoff said, when asked about the meeting. Writing on X, he said

the US hopes the talks “will prove constructive and promising” and the mediators will continue their work. He did not elaborate. Qatar and Pakistan have been the main interlocutors between Washington and Tehran since the war started. The tone of Trump’s remarks about the US-Iran meeting contrasted with his stance during his speech to the General Assembly earlier on Tuesday. Then, he repeated threats to wipe out the country unless its leaders come to an agreement. “Will a deal be made with Iran that lets them rebuild and create a far greater country than it ever was before—maybe one of the greatest in the Middle East or even the world—or do I annihilate the Islamic Republic and do it quickly?”

Trump said. Trump addressed the UN shortly before meeting Gulf Arab officials. Gulf Cooperation Council states—a bloc that includes Saudi Arabia and the United Arab Emirates—were set to tell him to avoid escalating hostilities with Iran, Bloomberg reported. Their governments are keen to end a conflict that’s seen their territories and ships attacked by thousands of Iranian missiles and drones. It is also causing their economies to contract or slow significantly, largely because of the disruption to traffic through Hormuz. Before arriving in New York, Trump indicated he was open to meeting Iranian President Masoud Pezeshkian, who is set to make his General Assembly speech on Wednesday.

Oil prices fall, Asian shares are mixed after US-Iran meet By Chan Ho-Him

The Associated Press

ONG KONG—Asian shares were mixed Wednesday after Wall Street held near its record and oil prices fell following US President Donald Trump’s remarks that United States and Iranian officials had a “very good” meeting Tuesday on the sidelines at the United Nations. Oil prices fell and remained below $100 a barrel on Tuesday after Trump said US and Iranian officials met on the sidelines of the UN General Assembly in New York following his threat during an address to the annual gathering that the US might “annihilate” the Islamic Republic if a deal couldn’t be made. “Will a deal be made with Iran that lets them rebuild and create a far greater country than it ever was before, maybe one of the greatest in the Middle East or even the

world,” Trump said. “Or do I annihilate the Islamic Republic and do it quickly, never giving them a chance to kill and destroy people and countries again?” Brent crude, the international standard, was down 0.9 percent to $98.40 per barrel. That was still elevated compared to the roughly $72 per barrel level from late February before the Iran war. US futures were higher. South Korea’s Kospi rose 0.5 percent to 7,052.75. Hong Kong’s Hang Seng lost 0.8 percent to 24,896.04. The Shanghai Composite index slid 0.4 percent to 3,938.08. Australia’s S&P/ASX 200 added 0.3 percent to 8,779.80. Taiwan’s Taiex was 0.6 percent higher, while India’s Sensex was up 0.3%. Japan’s Nikkei 225 was closed on Wednesday for a holiday and will resume trading Thursday. Technology stocks in Asia were volatile on Wednesday but some

traded higher after US technology shares gained. Samsung Electronics rose 2.6 percent, while South Korean memory chipmaker SK Hynix added 0.4 percent. Shares of Taiwan Semiconductor Manufacturing Co., or TSMC, was up 1.2 percent. On Tuesd ay, Wa l l St reet ’s benchmark S&P 500 edged down less than 0.1 percent and remained near its all-time high. The Dow Jones Industrial Average dropped 0.4 percent, while the technology-heavy Nasdaq composite climbed 0.5% and closed at a record high. Major US technology stocks climbed. Nvidia shares climbed 0.7 percent, Advanced Micro Devices rose 1.3 percent. Broadcom added 0.5 percent, and Intel gained 1.7 percent. In other dealings, the US dollar rose to 157.59 Japanese yen from 157.39 yen. The euro was trading at $1.1427, down from $1.1449.

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INDIAN ENVOY: PHL AN IT-BPM PARTNER, NOT OUR RIVAL By Bless Aubrey Ogerio

NDIA sees the Philippines as a partner rather than a competitor in the information technology and business process management (IT-BPM) industry, with the two countries already working together in areas that span the global services and maritime sectors. The Philippines and India are established players in the global outsourcing industry, with the latter generally recognized as the world’s largest IT-BPM market and the former as another major services hub. “In fact, there are many areas where we are collaborating with each other,” Indian Ambassador to the Philippines Shri Harsh Kumar Jain told reporters on the sidelines of the Association of Southeast Asian Nations (Asean)-India business forum in Makati on Wednesday. “Of course, IT-BPM industry is one which is a very successful example of collaboration between the two countries,” he added. In June, for instance, the two countries identified information and communication technologies, IT-BPM and artificial intelligence as areas for deeper cooperation under their Joint Working Group on Trade and In-

vestment, alongside infrastructure, energy and pharmaceuticals. They even elevated their bilateral relationship to a strategic partnership in August 2025 during President Ferdinand R. Marcos Jr.’s state visit to India. Among the agreements signed during the visit was a memorandum of understanding on cooperation in digital technologies. Jain also pointed to Indian and Filipino seafarers and offshore workers as another example of the two countries’ workforces operating alongside each other in global industries. Further, he mentioned room for greater cooperation in agriculture and manufacturing. The envoy’s comments come as Manila and New Delhi prepare to explore a bilateral preferential trade agreement (PTA), which could provide another avenue for expanding commercial ties. The proposed PTA would initially cover trade in goods, but India wants to eventually broaden its scope to services. “It’s a matter of discussion and negotiation. But to begin with, I think it’s a preferential trade agreement in goods, but we would want to also broaden it,” Jain said. See “Indian,” A2

Thursday, September 24, 2026 A17

Govt to halt excise taxes on LPG, kerosene next week

By Reine Juvierre S. Alberto @reine_alberto

HE government is set to temporarily suspend excise taxes on liquefied petroleum gas (LPG) and kerosene again next week, while still keeping the levies on diesel and gasoline, as oil prices continue to soar amid uncertainty about when the Middle East crisis will end. After the Department of Finance’s budget hearing at the Senate on Tuesday evening, Finance Secretary Frederick D. Go told reporters that the government could suspend excise taxes on LPG and kerosene next week. “Since I signed [the recommendation] today, I believe it should be with the Office of the President in the next day or two,” Go said. “By next week, it should be out already.” The suspension of excise taxes, subject to President Ferdinand R.

Marcos Jr.’s approval, will last for three months or until the end of the year, Go added. This comes after the price of Dubai crude oil based on Mean of Platts Singapore (MOPS) breached $80 a barrel for a month, the threshold that allows the President to suspend or reduce the excise tax on fuel. The Department of Energy has already certified that the one-month average price of Dubai crude oil reached $99.41 per barrel from Au-

gust 13 to September 11. While the suspension would further lessen the government’s revenue take, the Finance chief said the most vulnerable households use LPG and kerosene for cooking and other daily needs. Foregone revenues from suspending excise taxes on LPG and kerosene from April to June amounted to P2.5 billion, according to the DOF. “The most important thing, first and foremost, is to help ease the burden of high global oil prices on the most vulnerable sectors,” Go said. The suspension would remove the P3.36 levy on LPG per kilo and P5.60 for every liter of kerosene. Despite appeals to also suspend taxes on diesel and gasoline, Go said doing so would result in approximately P12 billion a month in revenue loss for the government. During the DOF’s budget hearing, Go said the Development Budget Coordination Committee (DBCC), composed of the country’s economic managers, of which he is a member, decided against removing excise taxes on diesel and gasoline

because it would be less progressive. The DBCC reasoned that the wealthy would benefit the most because they consume more diesel and gasoline, Go noted. “So, we thought, for that point, is to keep the taxes and instead do a targeted subsidy to the vulnerable sectors.” “My position as DOF secretary, ever since, [is] I am not opposed to revenue-reduction measures as long as there is a corresponding revenueenhancement measure, so that whatever is lost can be recovered from other sources,” Go said. “But in the absence of any revenue-enhancing measure to replace the P12 billion a month that we will lose, in the meantime, the DBCC is not endorsing that to the President,” he added. Oil companies have raised pump prices this week by P4.88 per liter for gasoline, P8.82 per liter for diesel and P6.47 per liter for kerosene to reflect movements in the world oil market. Saudi Arabia is moving to revive the East-West pipeline, which was damaged by attacks earlier this month, in the coming days to restore oil exports, Bloomberg reported.

‘Luzon econ corridor investment gains won’t come early’ By Justine Xyrah Garcia

BUDGET IN THE SPOTLIGHT Members of various progressive groups hold a picket outside the House of Representatives in Quezon City on Wednesday, September 23, 2026, as the House conducts plenary deliberations on the proposed 2027 budget of the Office of the President. The groups criticized what they described as a bloated allocation and called for greater scrutiny of confidential and intelligence funds and other appropriations for the Office of the President. NONOY LACZA

Mynt: E-wallet a ‘financial responder’ By Lorenz S. Marasigan

LOBE Fintech Innovations Inc. (DBA Mynt) is positioning digital wallets as “financial first responders” in emergencies, arguing that access to financial services during a crisis is as critical as food and shelter. “During times of crisis, access to financial services becomes just as important as access to food, shelter, and other forms of assistance,” said Mynt Chief Regulatory And Compliance Officer Maria Ceferina M. Sison.

Sison said a digital financial tool must serve as an agile financial lifeline, especially when conventional channels break down. She described digital financial tools as part of a broader shift in how fintech supports disaster and crisis response. The approach, Sison said, was tested during the Middle East crisis, when traditional financial channels in the region faced heavy disruption. During that period, the platform waived remittance fees to and from affected countries, allowing

families in the Philippines to send financial assistance to relatives abroad at no cost. It also streamlined onboarding and know-your-customer (KYC) checks by accepting government IDs issued in the Middle East. This helped overseas Filipinos receive emergency government aid and family support faster through digital disbursement, according to Sison. The interventions, she added, were made possible by its existing digital infrastructure, strong public-private partnerships, and an enabling regulatory environment.

Sison said reliable cross-border payments are tied to both immediate safety and financial survival for overseas Filipino families. Any disruption in remittances directly affects their ability to afford essential care and maintain stability at home during an emergency. Part of the first-responder role, Sison said, is making funds immediately usable rather than simply moving them across borders. Recipients can pay bills, buy essentials, purchase mobile load, and access other financial services as soon as the money arrives.

HE Philippines could attract higher-value foreign investments and create more jobs through the Luzon Economic Corridor (LEC), but the economic gains are unlikely to materialize immediately, according to the Asian Development Bank (ADB). The comments came as the ADB sharply downgraded its growth outlook for the Philippines to 3.3 percent this year, making it the only Southeast Asian economy to receive a downward revision in the latest outlook. The bank said stronger technology exports supported the growth outlook for economies such as Malaysia and Thailand, while the Philippines faced a slower-than-expected recovery in public investment and tighter financial conditions. ADB Philippines Country Director Andrew Jeffries said the LEC and similar initiatives could help the Philippines attract higher-value foreign direct investments (FDI), which could support job creation and economic growth. “That initiative and others like the Luzon Economic Corridor, more broadly, are meant to bring specific and higher value-add foreign direct investment into the country,” Jeffries said on Wednesday when asked if the Pax Silica initiative could help support growth. “It would be a positive for job creation and growth, but it’s not immediate. There would be a lag.”

Jeffries said foreign investment projects typically take several years to develop, although construction activities could generate jobs earlier. The LEC connects Subic Bay, Clark, Manila, and Batangas and covers investments in transport infrastructure, energy, digital connectivity, and advanced manufacturing. The government describes the corridor as the country’s largest economic engine, accounting for about 50 percent of gross domestic product (GDP). As of September, the Philippine government was eyeing about $20 billion in investments under the LEC. The corridor was launched by the Philippines, United States and Japan in 2024 and has since expanded to include Australia, Canada, Denmark, France, Italy, South Korea, Sweden, and the United Kingdom as partner countries. Among the projects being developed under the corridor is the proposed Subic-Clark Natural Gas Ecosystem, which has an estimated cost of $4 billion to $6 billion and is planned as a liquefied natural gasto-power platform with more than 2 gigawatts of capacity. The LEC has also identified at least 38 investment opportunities, of which 17 have estimated project costs while the costs of the remaining 21 projects are still being determined. The ADB expects Philippine growth to recover to 5.1 percent in 2027, although this is lower than its previous forecast of 5.3 percent. Justine Xyrah Garcia

PHL gets ₧420-B devt project funding from UK Continued from A1

the two countries can combine financing, technical expertise and private-sector investment for projects involving connectiv-

ity, energy systems, digital infrastructure and advanced manufacturing supply chains, the DOF said.

A18 Thursday, September 24, 2026 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial Crisis in the classroom: Confronting the bullying epidemic in our schools

HE numbers are staggering, and they demand our attention. Nearly half of all our 15-year-old learners—47 percent, to be precise—report experiencing bullying at least several times a month. This is not merely a statistic from the latest Programme for International Student Assessment (PISA); it is a damning indictment of the learning environments we have allowed to persist. When our students experience bullying at more than twice the OECD average of 20 percent, we are no longer looking at an isolated problem but a systemic crisis that threatens the future of an entire generation. (Read the BusinessMirror story: “You are not alone,” September 19, 2026).

The Department of Education’s response through Department Order No. 006, s. 2026, formally titled the Guidelines on Ensuring a Safe and Motivating Learning Environment (ESMLE), represents a necessary step forward. The expanded mandate giving schools authority over incidents occurring within a two-kilometer radius of campus is particularly noteworthy. By extending jurisdiction to nearby convenience stores, internet cafes, and sidewalks, policymakers acknowledge a critical reality: bullying does not respect school boundaries. A student harassed at a nearby internet cafe faces the same psychological trauma as one bullied in the classroom, and the school’s responsibility to protect learners must extend to these spaces. However, policy on paper means little without implementation and cultural change. The Department of Justice’s Student Awareness Seminar at Bagong Tanyag Integrated School, led by Undersecretary Ian Norman E. Dato, offers a template for what meaningful intervention looks like. By bringing together students, faculty, and parents, the DOJ recognizes that combating bullying requires a multi-agency, multi-stakeholder approach. The involvement of local government units, law enforcement, and social welfare agencies creates a safety net that schools alone cannot provide. What distinguishes this current approach is its emphasis on restorative rather than purely punitive justice. Undersecretary Dato’s explanation that penalties should “straighten the path” rather than destroy a child’s future represents a mature understanding of adolescent development. Bullies are often themselves products of trauma, insecurity, or inadequate emotional regulation. Addressing the root causes of aggression—while still holding perpetrators accountable—offers the best hope for breaking cycles of violence. The DOJ Action Center’s trauma-informed, victim-centered protocols also deserve praise. Too often, reporting mechanisms retraumatize victims through bureaucratic indifference or public exposure. By guaranteeing confidentiality and providing access to legal counsel and psychosocial support through the Department of Social Welfare and Development, the government is finally treating bullying victims with the seriousness their trauma demands. Yet we must remain vigilant. Bagong Tanyag Integrated School reports almost zero bullying incidents—a commendable achievement that should be studied and replicated. But this is one school among thousands. The DOJ seminar was, by their own admission, a “random initiative” without immediate plans for expansion. When nearly half of our teenagers face regular harassment, random initiatives are insufficient. These programs must become systematic, mandatory, and funded. The most powerful tool against bullying may ultimately be the simplest: kindness. Principal Donnabel Balantac’s observation that “nothing is diminished or wasted when we are kind” cuts to the heart of the matter. Building a culture of compassion requires daily reinforcement, not just annual seminars. It requires teachers and parents to serve as the first line of defense, creating environments where students feel safe to speak up without fear of retaliation. The PISA data has exposed the scope of our failure. The ESMLE guidelines and DOJ outreach programs show we are beginning to take responsibility. But policies and seminars are only the beginning. Every stakeholder—educators, parents, government officials, and students themselves—must commit to transforming our schools from places of fear into sanctuaries of learning.

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Two generations of borrowed brains John Mangun

OUTSIDE THE BOX

TANFORD University scientists killed off roughly half of a mouse’s brain on purpose, then filled the empty space with human tissue, and the resulting mouse did better on tests than mice carrying the same damage with nothing put back in the brain hole. That is the actual result of a study published this month in Nature by neuroscientist Sergiu Pașca. It deserves attention well beyond the medical journals because it describes something the Philippines has been doing to its own institutions for 50 years without the benefit of a laboratory. The mechanics are almost too similar to ignore. Researchers engineered mice so that the cells destined to become the cortex and hippocampus, the parts of the brain responsible for higher reasoning and memory, died off early. Those two regions normally make up about half a mouse’s brain. The animals survived anyway, a little forgetful, a little clumsy, running on whatever was left. Then the scientists injected several hundred thousand human cells, grown from reprogrammed human skin cells, into the vacant real estate. Within two to three months, the

graft had grown to nearly five times its original size, occupying more than 90 percent of the missing cortex, with a human neuron count nearing four million. It plugged into the mouse’s circulatory system, began generating electrical activity on its own, and extended nerve fibers as far as the spinal cord. Researchers even found neurons resembling Von Economo cells, specialized cells linked to social behavior in mammals, growing inside a rodent that will never attend an office Christmas party. The maze results told the same story with the mice carrying the graft consistently

outpacing mice whose damaged cortex had been left empty. Pașca’s own framing was that psychiatry and neurology have fewer treatments than almost any other branch of medicine, largely because the human brain is too inaccessible to study directly. So, they built a mouse that could carry a piece of human brain around for them to observe. The scientists insist that the animals are not thinking like humans and remain, in every functional sense, mice. It is the movie Ratatouille in reverse. Instead of a rat’s brain under the chef’s hat doing the human’s cooking, it is human tissue under a mouse’s skull helping the mouse survive. Filipinos have watched a version of this experiment run at national scale for two generations. Domestic manufacturing capacity, the cortex of any developing economy, was allowed to waste away while remittances from a large and growing population of overseas Filipino workers and a business process outsourcing sector built on other countries’ back-office needs filled the vacant space. The transplanted tissue took over nicely. It grew, and it now accounts for a share of gross domestic product that keeps consumption humming along well enough that nobody in Malacañang loses much sleep over

Factory floor or family office? India’s young rich alarm elders By Advait Palepu & Alisha Sachdev

LOK SANGHI used to work in his family’s cements business, Sanghi Industries, which his father founded more than four decades ago.

In 2023, they sold a majority stake to a much bigger rival, Ambuja Cements Ltd., controlled by Gautam Adani, India’s richest person. Sanghi, 42, now oversees a luxury real estate business in Dubai, a professional volleyball team, and a handful of startups. He also trades in the private, public and commodities markets through a family office with $100 million in assets under management. “Most families had a single engine of growth which was the business, and if the business did well or badly, the family was affected,” Sanghi, who runs his family’s investment firm Resolute Corp., said in an interview. “Now business owners want to separate the two so that the fate of the business and families are de-coupled.” The shift from dynastic enterprise to money management is picking up in one of the world’s fastest growing economies, worrying some of the nation’s elders. For the richest

of the rich, family control remains paramount and selling out isn’t really an option. The kids of Adani and Mukesh Ambani are working to push their dynasties forward from industrial roots into data centers and tech. But, the younger generation of families worth hundreds of millions of dollars increasingly are cashing out, taking their inheritance and investing it elsewhere. In an economy dominated by firstgeneration fortunes, it’s become a broader discussion about society and the country’s future. Indian billionaire Uday Kotak, the founder of Kotak Mahindra Bank, lamented last year that many scions of rich families were “taking the easy way out” by running family offices and trading financial assets. “They should be creating real-world businesses,” said the 67-year-old. It’s also a question of identity. Some of India’s business families trace a line to pre-independence from the British Empire. Carrying the ba-

The shift from dynastic enterprise to money management is picking up in one of the world’s fastest growing economies, worrying some of the nation’s elders. For the richest of the rich, family control remains paramount and selling out isn’t really an option.

ton forwards has become a way of establishing social credit. The Wadia family began in 1736 making ships for the British East India Company and evolved into a conglomerate that makes biscuits and fabrics. The Bajaj dynasty began with a cotton business in 1905 and later became one of the world’s biggest motorcycle makers. Both are still family owned. “Our generation which is over 60 years of age has to give the younger generation space,” said Raamdeo Agrawal, a billionaire who co-founded stock brokerage Motilal Oswal Financial Services Ltd. with his partner Motilal Oswal about four decades ago. Agrawal’s son is a money manager at the asset management arm and may, over time, take on more responsibilities. “I told him that you have to get the respect of your colleagues and the company. He has to

the industrial base nobody built. That is the same result the mouse study produced, better than the version with nothing put in the hole at all, which is not the same as healthy. The question the mice cannot ask, because they lack the cortex for it, is the one that matters. What happens when the environment changes and the substitute was never built for the problem it now has to solve? The grafted human cortex is still wired to a mouse body. OFW earnings are wired to host-country hiring, visa rules, and oil-state payrolls. BPO earnings are wired to corporate cost-cutting and to software that is getting better every year at doing without a night shift in Manila. Those grafts still work, but they are not a factory floor, a supplier network, or an export mix that survives the day someone else’s back office gets automated. A transplant that beats an empty socket is not a transplant that beats the original, and confusing the two is how a country talks itself into believing a workaround is a cure. The Philippines has spent two generations passing the tests built around the hole it already has, with foreign exchange coming in, consumption ticking along, the lights staying on, and by those measures it has reasonably often passed. What none of See “Mangun,” A19

learn the tricks of the trade.” he said in an interview. For family-backed firms with fewer business lines, the economics can be quite different. In some cases, their operating companies are no longer growing as much as before, forcing owners to rethink their succession and wealth preservation plans. Managing investments through a family office wasn’t an option when Adani and Agrawal started their businesses, but India’s rapid financial boom has given medium-sized and smaller family businesses a chance to exit. India has scores of owner-operated companies in manufacturing, retail or pharma. Excluding the billionaire class, the country has around 944,000 millionaires in dollar terms, estimates UBS. There were more than 300 family offices in the country in 2024 versus 45 in 2018, according to data from PwC. If you count family investment firms more broadly, there are likely more than a thousand, according to Sougata Ray, vice chancellor at the Narsee Monjee Institute of Management Studies. “I get messages on LinkedIn at 2 a.m. asking advice about creating a family office,” said Vikrant Agarwal, a managing partner at Proxima See “Factory,” A19

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Saudis in process of starting vital EastWest oil pipeline By Salma El Wardany & Anthony Di Paola

AUDI Arabia is in the early stages of starting up a key oil pipeline that has enabled Riyadh to bypass the Strait of Hormuz after the conduit was halted earlier this month, people familiar with the matter said.

The kingdom is aiming to restore exports via the pipeline later this week, one of the people said. They asked not to be identified because the information isn’t public. Multiple oil traders said there were already signs of tankers arriving at the port of Yanbu, from where the piped supply is exported. Saudi Aramco and the nation’s oil ministry didn’t respond to requests for comment. A restart will bring some relief to a market that’s been short of supply, with crude extending declines below $100 a barrel on Tuesday. When the pipeline was shut down, the kingdom pivoted its exports back to the Persian Gulf, with millions of barrels seen loading at the giant Ras Tanura terminal in recent days. The resumption of the East-West line will allow Aramco to pick up exports again from Yanbu which it has been using during the Iran war for the bulk of its shipments with the Strait of Hormuz heavily disrupted. The company has informally told some Asian refiners that they will soon be able to pick up oil from the Red Sea port, traders familiar with the matter said Tuesday. Still, risks remain on that route as the Yemen-based Houthi militants have continued their campaign by striking Saudi infrastructure. A refinery in the kingdom’s southwest was targeted while air-raid alerts were issued for Riyadh Saturday, the first in the capital since the height of the US-Iran war in March and April. Since the pipeline was hit by drones launched from Iraq on Sept. 10, state-run Saudi Aramco had been racing to bypass a damaged pumping station along the route to restore flows partially, and was seeking to return the link to its full capability in about six weeks, Bloomberg has reported. The pace of the ramp-up will depend on how quickly Aramco can repair the damaged station. The pipeline has the capacity to transport 7 million barrels a day of oil, with about 2 million going to refineries along the kingdom’s west coast and the remainder available for exports. The impact of the shutdown

has rippled through markets. Saudi Aramco told at least two European refiners that they won’t be allocated any crude in October under long-term agreements, according to people familiar with the matter. Poland’s Orlen SA has already been hunting for replacements, helping drive up prices of European oil grades. Dated Brent, the benchmark for real-world barrels in the continent, topped $130 at one point. For customers in Asia, however, Aramco has been boosting supplies through the embattled Strait of Hormuz. The company has sold tens of millions of barrels for delivery this month and the next with clients collecting just outside the waterway. Over the weekend, supertankers with the capacity to collect 14 million barrels of oil were observed at Saudi Arabia’s export installations in the Gulf, according to data from the European Union’s Sentinel 2 satellite. As Hormuz turned almost impassable early in the war, Saudi Arabia swiftly changed direction to move its oil to the Red Sea coast through the 1,200-kilometer EastWest pipeline that runs across the breadth of the Arabian Peninsula. There it emptied out the crude at the port of Yanbu and supplies through the Red Sea became a lifeline for the oil market, helping keep price surges in check at the peak of the conflict. That route, however, has also come under threat in recent weeks from Yemen’s Houthi militants, who have attacked Saudi ships and energy infrastructure inside the kingdom. Saudi Arabia’s total oil exports dived to just about 3 million barrels a day in August, the lowest in at least nine years. A refinery at Jazan in the country’s south was knocked out in July while Yanbu itself has been attacked. This isn’t the first time the pipeline was targeted. A pumping station was attacked in April, though oil flows were able to continue, and full supply was restored within days. The pipeline and major Saudi oil fields were also targeted in 2019 as tensions flared with Iran and the Houthis. Bloomberg

Factory. . .

Puneet. Last year, the family sold a majority stake to Singapore-based Growtheum Capital Partners, a private equity firm. Puneet, now 51 years old, said the deal will help Homemade Baker’s open more manufacturing facilities, increase its market share and possibly enable it to pursue an initial public offering in a few years. Puneet told Bloomberg News that he plans to start a family office in the coming months once things are in place, and his son will join that entity instead of working in the bakery business. Gaurav Burman, a fifth-generation heir of the family behind Dabur Group, a consumer goods giant best known for its personal care products, said the business his ancestors started has been under professional management for several decades. Family members still hold director positions but are no longer involved in operations. He is also managing director at Burman Family Holdings, where he helps invest the family’s wealth. “Whatever path the next generation of Indian business families choose, whether they decide to work in their own family businesses or become entrepreneurs, their decisions should be applauded,” he said. “Surely the greatest gift we can give the next generation is help and confidence to pursue whatever they are passionate about. Eventually if one pursues their passion they will become successful.” Bloomberg

continued from A18

Capital Services, a financial advisory firm. “Often because they are bored of the family business and they do not want to work on the factory floor,” he said. Scions of rich families and some wealth advisers say it’s not that simple. They say that by investing their wealth broadly, they can seed more startups and local businesses, and help support other Indian entrepreneurs in search of growth. To this effect, more family offices are involved in venture capital activities. Some business owners are finding a middle ground by selling stakes to private equity investors that can provide capital for them to grow. About $18 billion worth of buyout and control transactions from 2020 to 2025 involved family and founder-owned businesses, according to EY India. In 1995, the Manchanda family started a bakery making cookies under a brand called Homemade Baker’s. The business pivoted into producing millions of ice cream cones and sleeves for major consumer brands, and its revenue topped $1 billion in its fiscal year ended 2025, though profits were a small fraction of that. Two generations of the family have run the company: Krishan Kumar Manchanda, his brother Rajiv Manchanda, and Rajiv’s nephew

Opinion BusinessMirror

Thursday, September 24, 2026 A19

Reflections on law, culture, and nationhood: A Martial Law baby looks back By Sen. Alan Peter Cayetano

WAS born in 1970. When Martial Law was declared in 1972, I was too young to understand what it meant. I grew up in the country it shaped, and I was 15 when the Marcos presidency ended in February 1986. Martial Law itself had formally been lifted in 1981, although authoritarian rule continued. My generation’s childhood belonged to one political era; our passage into adulthood coincided with the beginning of another. For a child, the nation first takes shape through ordinary things: home, school, the people around us, what we hear, and what the adults in our lives believe. Only later do we begin to understand how much was happening beyond the small world we knew. That is part of what I am still trying to come to grips with. How much of what we remember tells us what the country was like, and how much tells us what it was like to be young? Martial Law was declared in the name of order. Alongside it came the promise of renewal through the Bagong Lipunan, the New Society. Supporters believed that stronger authority could restore discipline, confront disorder, and bring reforms that ordinary politics had failed to deliver. Those promises remain part of how the period is remembered. For some, memories of those years are tied to projects, opportunities, or a feeling that life was more orderly. They may also be memories of parents who were still alive, families still together, and a future that had not yet disappointed them. We should understand the affection in those memories without assuming that affection tells the whole story of the nation. For others, those same years meant detention, torture, disappearance, or the loss of someone they loved. These are documented wrongs that the Philippine state has formally recognized through its law providing recognition and reparations to victims. A family’s peaceful experience cannot erase another family’s suffering. Both kinds of memory can exist within the same country. But remembering honestly requires us to ask questions beyond our own experience. Who benefited? Who paid the price? Could people speak

freely about what was wrong? Could those who exercised power be held accountable? The same honesty is needed when we look at what followed. For many Filipinos, 1986 opened a period of extraordinary hope. There was the possibility of speaking more freely, rebuilding democratic institutions, and beginning again. My generation entered adulthood with that possibility before us. Then came the longer, harder work of living with the results. Freedom did not automatically put food on every table. Elections did not automatically end corruption. A change in leadership did not give every child a good education or every family a fair chance. Those disappointments deserve to be taken seriously. People who struggle to earn a living should not be dismissed when they ask what democracy has done for them. Equally, disappointment with what followed cannot excuse abuses that came before. We have to be capable of examining both without using either to avoid the other. I eventually became a participant in the political life that emerged from those years. That means I cannot reflect on its shortcomings as though I have merely been watching from a distance. I, too, have to examine the choices I have made, the people I have supported, and whether the standards I ask of others are standards I consistently apply to myself. Fifty-four years after the declaration of Martial Law, perhaps this is one of the responsibilities of our generation: to examine what we inherited, what we helped build, and what we are now passing on. Many who lived through those years are still with us. We should listen while we can, preserve their testimony, and examine the records.

Martial Law was declared in the name of order. Alongside it came the promise of renewal through the Bagong Lipunan, the New Society. Supporters believed that stronger authority could restore discipline, confront disorder, and bring reforms that ordinary politics had failed to deliver. Those promises remain part of how the period is remembered.

As that generation gradually passes, our children will increasingly encounter this history through books, family stories, and whatever appears on their screens. They deserve the tools to distinguish evidence from repetition, and understanding from inherited loyalty. They also deserve a future larger than the arguments we hand down. So where do we begin? I believe we begin with a common vision of the nation we want to build. We need enough shared purpose to work together even when we disagree about leaders, policies, or the past. The Preamble of the 1987 Constitution gives us a place to start. It invokes Almighty GOD and commits us to a society grounded in human dignity, the common good, and responsibility toward succeeding generations. It names “truth, justice, freedom, love, equality, and peace” among our national aspirations. These aspirations become meaningful when we connect them to daily life. A parent should be able to earn enough to raise a family. A child in a farming community should have a fair chance at a good education. A person seeking justice should not need money or powerful connections to be heard. People should be able to question those in authority without fearing for their safety. From that vision, we can identify goals, make plans, and measure whether we are improving people’s lives. Then come the difficult questions: How do we get there? Who should lead? What should we prioritize? How do we pay for it? This is where democratic processes and the rule of law become

essential. They allow people with different convictions to make decisions together, challenge mistakes, and replace leaders peacefully. They place limits on what anyone may do in pursuit of even the most popular objective. A sincere desire to improve the country does not make anyone incapable of error. Nor can a nation’s future depend entirely on the wisdom or goodness of whoever happens to hold power. We need institutions strong enough to correct wrongdoing, including wrongdoing committed by people we admire. The test becomes personal when the rules inconvenience our own side. Can we defend another person’s rights when we disagree with that person? Can we demand accountability from someone we helped place in office? Can we accept a lawful result while continuing to work peacefully to change it? Our answers reveal the culture we are building. Laws matter, but so do the habits we teach at home, reward in public, and tolerate in ourselves. If loyalty repeatedly excuses dishonesty, if influence determines whose complaint is heard, or if disagreement becomes a reason to humiliate another person, those habits eventually find their way into our institutions. Renewal therefore asks something of all of us. It asks us to connect the order we desire with fairness, the freedom we value with responsibility, and the faith we profess with humility about our own judgment. As a Martial Law baby, I cannot change the country into which I was born. But I share responsibility for the country another child is being born into today. When that child looks back 54 years from now, I hope there will be more to remember than the names of our leaders and the bitterness of our disagreements. I hope there will be stronger communities, institutions worthy of trust, and families who can say that life became more secure and more hopeful. May GOD grant us the honesty to learn from our history, the humility to recognize our part in its unfinished work, and the courage to build something better together.

UN chief calls for AI pact to prevent the rise of killer robots By Magdalena Del Valle

Antonio Guterres used his final address to world leaders at the UN General Assembly to sound the alarm about the dangers of AI, arguing that the rapid advance of frontier models risk undermining nation states. “We are witnessing an extraordinary transfer of power away from government to a handful of private corporations and individuals,” Guterres said Tuesday as he appealed for international agreement on new AI safeguards. “It is advancing at extraordinary speed and racing ahead of our ability to understand its full consequences,” he added. After a decade at the head of the UN, the 77-year-old set out a bleak vision of a world wracked by war and “weaponized” hunger, accelerating climate change and dwindling respect for human rights and the rule of law. He singled out AI and the data-center arms race as the defining power in a period of dramatic change and, in a nod to the US and China, called for guardrails to ensure the technology can be developed safely. “Governments with the greatest

AI capabilities have the greatest responsibilities to humanity to establish channels for dialogue, transparency, trust and cooperation,” he said. World leaders converged on New York for the UN’s annual gathering at a moment of escalating anxiety after researchers at the most advanced AI developers warned that the technology could wipe out humanity without proper controls. OpenAI, which opened the AI era with the release of ChatGPT in 2022, on Monday called for internationally agreed standards to ensure that AI can be developed safely. Also on Monday, the UN’s AI panel of experts released a report cautioning that increasingly capable models could escape human control and leaders from over 20 countries and the European Union called for mandatory safety testing of advanced AI models and potentially a new global institution to ensure humans retain control. Pope Leo in May said artificial intelligence should be “disarmed” to protect humanity, a warning that has been echoed by Canadian Prime

Minister Mark Carney and French President Emmanuel Macron. OpenAI Chief Executive Officer Sam Altman is due to address the UN Security Council Wednesday and will attend a White House state dinner for Chinese President Xi Jinping on Thursday. The rapid development of AI is one of the issues likely to feature in Xi’s meeting with President Donald Trump earlier in the day. Trump, however, is a key outlier in the AI debate. The US president has resisted calls to slow the pace of development, arguing that doing so risks allowing China to overtake the US in the race to dominate the technology. “Whoever wins AI, WINS!” he said in a social media post Monday. “We are leading now over China, and everyone else, and I’m going to keep it that way!” A vast wave of investment into AI infrastructure has sent the S&P 500 to record highs this year and helped to sustain economic growth in the US ahead of mid-term elections in November. The president likened the alarms around AI to fears about global warming and said that warnings that AI poses a threat to humanity are a “hoax.” “What the president has said is, ‘yes, if there’s harm that comes from

Mangun. . .

sourced its industrial base to other people’s factories and other people’s paychecks can still grow the thing it gave up, if it ever needs to. Stanford’s mice will spend their lives being useful to researchers who

are not particularly curious what a mouse would have done with its own brain, given time. A country gets to ask that question of itself. The Philippines has not done so yet, and the tests it keeps passing were never de-

HE secretary general of the United Nations stepped up his calls for regulation of AI to avert a dystopian future of rampant corporate power and killer robots.

continued from A18

those tests ask is the harder question of whether an economy that out-

AI, we have to protect our country from it,’ but we cannot afford to not be at the leading edge of AI,” Secretary of State Marco Rubio said in an interview on Fox News Tuesday morning. “It’s going to happen—and if it’s going to happen, we should benefit from it, and we should be in the lead.” Guterres, for his part, has been warning about AI for nearly his entire tenure. In his first address opening the General Assembly in 2017, he said the technology could “boost development and transform lives in spectacular fashion,” but could also have a dramatic impact on labor markets, global security and “the very fabric of societies.” Nine years later, his message has become more urgent. Those risks now extend beyond jobs and inequality to increasingly autonomous models behaving in unintended ways and AI being used to facilitate cyberattacks or the development of biological weapons. “The danger is not technology — the danger is technology without accountability,” he said. “Humans are increasingly handing over power to machines, with artificial intelligence agents going rogue, and lethal autonomous weapons going from science fiction to military reality.” “Killer robots must have no place in our future,” he added. Bloomberg signed to force the issue. E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

A20 Thursday, September 24, 2026

Sports BusinessMirror

mirror_sports@yahoo.com.ph | Editor: Jun Lomibao

BRONZE HAUL GROWS FOR PHL N By Jun Lomibao

AGOYA—Marie June Adriano added a bronze medal to the Philippine coffers still wanting in gold on Wednesday as Kalya Sanchez opted to take the day’s off in favor of gathering strength for a potential gold medal in swimming in the Aichi-Nagoya 20th Asian Games. The men’s 3x3 basketball team swept the three-game group stage to advance to the quarterfinals and Junmilardo Ogayre steadied the boxing team reeling from the loss of Paris Olympics bronze medalist Aira Villegas on the fourth day of the games that saw China still a dominant force in practically all fronts. The squad led by double Olympic gold medalist Carlos Yulo, meanwhile, wound up better at sixth place in the men’s team event of gymnastics where they landed seventh in the qualification two days ago. Although the gymnasts weren’t expected to shine in the team event dominated by China, Japan and Chinese Taipei, Wednesday’s grind prepped Yulo for a gold medal opportunity in the apparatus that made him Olympic champion in Paris and in the world championships—the floor exercise—which will have its individual final on Thursday. Wednesday, however, belonged to Adriano, a 22-year-old Asian Games first-timer, who clinched karate’s second bronze medal in the games at the expense of Chinese Taipei’s Ya-chi Chung, 10-3, in women’s -50 kgs of kumite.

“This means so much to me, as a firsttime, the pressure was there, everything was there, that’s why I’m so happy for this medal,” said Adriano, a Human Kinetics student at Polytechnic University hailing from Llanera, Nueva Ecija. Karate Pilipinas Inc., headed by Team Philippines chef de mission to these games Ricky Lim, also clinched the women’s team kata bronze medal courtesy of Rebecca Cyril Torres, Samantha Emmanuelle Veguillas and Ysabielle Arrogante. Adriano beat Cambodia’s Srey Phea Chonn, 4-3, and South Korea’s Yang Yewon, 4-0, before narrowly falling to Hong Kong’s Tsang Yee Ting, 5-4, in the semifinals. Filipino fencers, meanwhile, absorbed tough defeats with Paris Olympian Sam Catantan crashing out after yielding to South Korea’s Park Jihee, 15-10, in the quarterfinals.

Fighting through tears, the 24-year-old Catantan still kept her head high. “I’m really proud with how I fenced today. Up to the end, I did not give up. So I’m very proud of that. Unfortunately, it’s sports, it could go either way,” Catantan said. Christian Jhester Concepcion and Eunice Daniel Villanueva also bowed to their respective opponents in men’s individual sabre—Concepcion to Iran’s Mohammad Fotouhi Firozabad, 7-15, in the round of 16 and Villanueva to Saudi Arabia’s Adel Mukhlid Almutairi, 9-15, in the round of 32. Catantan’s younger sister, Janna, fell to Singapore’s Maxine Jie Xin Wong, 2-15, in the round of 32 of the women’s individual foil event. Sanchez got a DNS, Did Not Start, across her name in the women’s 100 meters backstroke heats to rest and be ready for the 50 meters freestyle on Thursday at the Tokyo Aquatics Center. “We go where we have control of,” said national team swimming coach Ryan Arabejo. “We rested Kayla to prepare her better for tomorrow’s [Thursday] 50 meters [free] where she has a very, very good chance of winning a gold.” China had 47 gold, 20 siver and 10 bronze medals, Japan had a 15-24-27 goldsilver haul, while South Korea was at 8-8-24 at presstime. The Philippines was running 24th with a silver and four bronze in the 37-nation meet.

Three wins in three games for Gilas 3x3

AGOYA—Gilas Pilipinas finished unscathed in men’s 3x3 group stage of basketball after foiling Kazakhstan, 21-15, on Wednesday in the AichiNagoya 20th Asian Games at the Kinjo Futo Station Square. With a 3-0 record— they stunned Asia’s No. 1 Mongolia, 19-12, and beat Sri Lanka, 21-12—the Filipinos topped Group A for a spot in the quarterfinals. De La Salle’s Luis Pablo and Doy Dungo, University of Santo Tomas’s Koji Buenaflor and Binan Tatak Gel’s Nic Cabanero will take on Chinese Taipei at 5:30 p.m. (Manila time) on Thursday. “It’s all here,” said coach Patrick Fran, pointing to his bag containing the scouting report and video materials on the Taiwanese. “We’re ready.” Kazakhstan caught the Philippines—supported by the Philippine Olympic Committee and Philippine Sports Commission— napping early, jumping out to a 4-1 lead powered by a two-pointer from Timur Tangiyev. But Gilas quickly regained control behind a strong putback from Buenaflor, highlighted earlier by an emphatic two-handed slam, and a timely two-pointer from Cabañero to construct a 13-9 lead. Although Kazakhstan pulled within one at 13-12 following a basket by Artur Junussov, Gilas responded with a key 8-3 closing run to seal the win with 33 seconds remaining. The late surge was spearheaded by collegiate teammates Pablo and Dungo, who erupted with five of Gilas’ final eight points, finishing the contest with six points, three rebounds, and two assists. Cabañero again anchored the scoring with seven points, three rebounds, and an assist, an impressive feat considering he was nursing a sprained, swollen right hand he suffered during Gilas’ game against Mongolia on Monday. Pablo provided five points, while Buenaflor contributed three points to round out the balanced attack. Timur Tangiyev led Kazakhstan with six points and eight rebounds as his squad fell to 1-2 in group play. Mansur Seilkhanov contributed four points, with Junussov and Alizhan Ydyryszhan adding three and two points, respectively. Jun Lomibao

KOJI BEUNAFLOR rises up and throws it down. POC MEDIA POOL

MARIE JUNE ADRIANO (fourth left) shares a celebratory moment with fellow karate bronze medalists Rebecca Cyril Torres, Ysabelle Arrogante and Samantha Veguillas alongside Karate Pilipinas president Richard Lim. POC MEDIA POOL

Alas Women motivated to raise level after ninth-place finish

AGOYA—It wasn’t mission accomplished for the Alas Pilipinas Women but the failure to finish strong—particularly falling short of the podium—at the AichiNagoya 20th Asian Games now serves as motivation and inspiration for the country’s top volleyball players. “Actually, we’re happy,” said De La Salle star Angel Canino, a firsttimer in the Asian Games. “Although the result wasn’t what we aimed for, we’re happy with the victories we got, 20TH ASIAN GAMES AICHI-NAGOYA 2026

MEDAL TALLY R

Country

People’s Republic of China

Japan

Republic of Korea

Kazakhstan

Thailand

Hong Kong, China

Malaysia

Islimic Republic of Iran

Kuwait

Democratic People’s Republic of Korea

Qatar

Tajikistan

India

Uzbekistan

Macao, China

Chinese Taipei

Singapore

Jordan

Myanmar

Vietnam

Saudi Arabia

Bahrain

Indonesia

Philippines

our contributions to the team and of course, the learning experience.” After absorbing consecutive defeats to powerhouse China (1825, 22-25, 8-25) and Kazakhstan (29-27, 24-26, 25-23, 25-19) in group play to be relegated to the classification stage, Japanese head coach Taka Minowa and the girls themselves reset their mission to sweeping their assignments to cap their campaign on a winning note. They won three straight to wind up ninth overall—beating Qatar (25-8, 25-2, 25-9), Mongolia (25-13, 25-11, 25-20) and Hong Kong (25-21, 25-9, 30-28) at the Okazaki Chuo Sogo Park Gymnasium. “Individually, this ranks as a great achievement, it was such an amazing experience to be with my ates, to play for the national team,” Canino said. Although those windup victories

BELLA BELEN says she wants to return to the Asiad, vowing to do much better. POC MEDIA POOL

didn’t change the fact that they did not reach their goal, Nagoya showed them that they can do more. The Kazakhstan match showed two sides of this Alas team—enough fight and firepower to push a stronger opponent, but not enough consistency to finish the job. Thus, a reboot to a new goal and new mindset—the medal was gone, but the tournament wasn’t. Bella Belen got to learn how it is to play in the Asian Games. “Definitely, the Asian Games are totally a different kind of competition and we learned so much from it,” she said. “We really have to raise the level of our game.” “Actually, I think we have improvements…we have a lot to gain, experience. We became better team,” Belen added. Now comes the harder part of translating the lessons into progress. Canino is already looking five years ahead, hoping for a quarterfinal breakthrough and Belen? She wants to be back and finish higher. Jun Lomibao

Ogayre weathers standing eight count to advance

ISHIO City—Junmilardo Ogayre escaped with a 3-2 split decision victory over Mongolia’s Gantumur Lundaa on Wednesday to make up for Paris Olympics bronze medalist Aira Villegas’s early exit in the Aichi-Nagoya 20th Asian Games. The 27-year-old Ogayre had to survive a standing eight-count to advance to the next round of the men’s 60-kg class against Nepal’s Roka Magar in the boxing competitions being staged at the Nishio Gymnasium in Nishio City, some 50 kilometers south of Nagoya. Lundaa was aggressive from the

opening bell and pressed Ogayre to the ropes, but the Filipino countered with jabs and inside shots to take the first two rounds on four of five judges’ cards. Lundaa continued to attack in the third round and managed to sneak one in that forced the referee to issue a standing eight-count against Ogayre. The Mongolian took the final round 10-9 on all five cards, but Ogayre held on for Team Philippines supported by the Philippine Olympic Committee and Philippine Sports Commission. Judges from Guatemala, Bulgaria and Argentina scored for Ogayre, while judges from Uzbekistan and Mauritius

scored for Lundaa. “It’s good to be back on the winning track after Aira’s loss yesterday,” said Marcus Manalo, president of the Association of Boxing Alliances in the Philippines. The result moved the Philippine boxing team to 2-1, with Norlan Petecio delivering the team’s first win before Villegas dropped her opener in the women’s 51kg class. Olympic medalists Nesthy Petecio (women’s 60kg) and Carlo Paalam (men’s 55kg), and Riza Pasuit (women’s 54kg), are scheduled to see action in the coming days. Jun Lomibao

Sanchez drops out of 100 back to focus on gold bid in 50 free

AGOYA—Kayla Sanchez withdrew from the women’s 100 meters backstroke heats of swimming at the Tokyo Aquatics Center on Wednesday to focus on the 50 meters freestyle where she’s targeting a gold medal. “We go where we have control of,” said national team swimming coach Ryan Arabejo. “We rested Kayla to prepare her better for tomorrow’s [Thursday] 50 meters [free] where she has a very, very good chance of winning a gold.” Sanchez thus got a DNS, for Did Not Start, across her name in the heats. Arabejo said Sanchez was also relieved of her relay duties. Sanchez missed the 100 meters freestyle podium on Tuesday by a mere 18-tenths of a second behind bronze winner Yujie Cheng of China in the women’s 100 meters freestyle event won by Hong Kong-China’s Siobhan Haughey. Arabejo said that Sanchez made a splitsecond decision to deviate from the coaching staff’s original strategy to keep pace with the heavily favored competition in the 100. “In swimming, sometimes, you have to take the risk, even if that is not the plan of the coach,” said Arabejo, underscoring the reality of high-stakes racing. “We gave them a strategy to follow, but the swimmers, they have their range to adjust during the race.” Recognizing the fierce battle for a medal, Sanchez opted for an aggressive start—a massive gamble by going all out and pushing significantly harder in the

first 75 meters of the race. While the early burst of speed kept her right in the mix with the leaders, the intense exertion took its toll in the final stretch. “As we saw it, she was right there, she was just overtaken at the very last stroke, so we move on to the next,” Arabejo said. The 50 meters, Arabejo said, is anybody’s game. “Anything goes in the 50,” he said. Jun Lomibao KAYLA SANCHEZ chooses where she can make the biggest impact. POC MEDIA POOL

Editor: Jennifer A. Ng

Companies BusinessMirror

Thursday, September 24, 2026

FUNDRAISING

Legora is in talks for a new funding round that could value the legal tech startup at around $8.5 billion, according to people familiar with the effort. The startup is aiming to raise at least $300 million in the round, said the people, who requested anonymity because the discussions aren’t public. The $8.5 billion value is pre-money, meaning it doesn’t include the funding Legora would raise, according to the people. The talks are ongoing and terms could change. Legora declined to comment. It’s been just five months since Legora was valued at $5.6 billion after raising $600 million in its Series D funding round. The startup sells AI-powered software to law firms and corporate legal teams to help automate onerous tasks like contract reviews and research. Photo shows the marketing tagline of Legora, “Legal Work, Without Limits” on its website arranged on a laptop computer in New York, US, on February 13, 2026. BLOOMBERG

MORE ELECTRIC CARS ON PHL ROADS AS OF AUGUST, SAYS DOE By Lenie Lectura @llectura

HE Department of Energy (DOE) said on Wednesday that electric vehicle (EV) sales accounted for 24.7 percent of total vehicle sales in the Philippines in January to August, with 66,685 EVs sold out of an estimated 270,124 total vehicles. The 66,685 EVs sold include 29,649 plug-in hybrid electric vehicles (PHEVs), 20,716 hybrid electric vehicles (HEVs), and 16,320 battery electric vehicles (BEVs). As of August, the country has 949 recognized EV models and 1,876 registered EV charging stations nationwide. The DOE said it will strengthen safety and emergency-response preparedness to ensure that the country’s rapidly growing EV fleet is supported by safe charging, responsible vehicle use, and trained first responders. Additionally, the government is offering up to P60 billion in fiscal support via the Electric Vehicle Incentive Strategy (EVIS) to boost domestic industry investments. “As adoption increases, our responsibility is to make sure

that the infrastructure, policies, and safety capabilities needed to support these vehicles keep pace,” DOE Secretary Sharon Garin said. “The growth of electric mobility must go hand in hand with safety. Drivers need to know how to charge and operate EVs properly, while our first responders must be equipped to act safely and effectively during emergencies. These capabilities are essential to building public confidence in electric mobility.” The expansion supports the objectives of the Electric Vehicle Industry Development Act (EVIDA) and the Comprehensive Roadmap for the Electric Vehicle Industry (CREVI), including the Clean Energy Scenario target of a 50-percent EV fleet share by 2040. The DOE said it will continue working with industry stakeholders, local government units, and emergency-response teams to expand consumer safety information and roll out regional responder workshops across the country, while advancing the infrastructure and investments needed to support the continued growth of electric mobility in the Philippines.

LTFRB summons JoyRide over harassment complaint By Lorenz S. Marasigan @lorenzmarasigan

HE Land Transportation Franchising and Regulatory Board (LTFRB) has ordered JoyRide to explain why its authority to operate (ATO) as a motorcycle taxi platform provider (MTPP) should not be suspended or cancelled. Acting LTFRB Chairman Greg G. Pua Jr. said the agency has issued a show-cause order (SCO) against the platform provider after one of its riders was caught on video allegedly sexually harassing a young female passenger, which went viral on social media. Pua also directed JoyRide to ensure the presence of the rider seen in the video when the board hears the case on October 6. “No person in his right mind would do this and we in the LTFRB assure the victim and her family that we will do everything in our power and within the bounds of the law to ensure justice is served,” Pua said.

Initial findings showed the passenger had booked a ride from San Mateo, Rizal, to Cubao, Quezon City. Along the way, the rider allegedly began harassing her. The victim, who was traumatized by the incident, recorded it on video. Pua said the incident clearly violates the provision in JoyRide’s authority to operate requiring it to ensure a safe, reliable, and convenient public land transportation service. The LTFRB is also looking into other possible cases against the platform provider for its alleged failure to properly vet the riders listed on its platform. “Failure to comply with this Order shall be considered as a waiver on the part of the Respondent-MTPP and the Respondent-Rider to be heard and shall cause the Board to resolve the matter based on the records on hand,” the SCO read. Pua said the LTFRB’s SCO is separate from any legal action that other agencies, particularly the police, may pursue against the rider.

JTI spends P2.1B on DIET plant in Batangas

T International Asia Manufacturing Corp. (JTI-AMC) has invested P2.1 billion ($37 million) to add advanced tobacco-processing technologies to its manufacturing facility in Malvar, Batangas, including the first dry ice expanded tobacco (DIET) plant among JTI sites in Southeast Asia. The DIET plant accounts for about P1.9 billion ($34 million) of the investment and introduces a technology that uses dry ice to expand tobacco, changing how the raw material is prepared for cigarette manufacturing. JTI said the process is intended to improve consistency and efficiency in tobacco processing. “The Batangas facility has built the manufacturing capabilities and technical expertise needed to support advanced technologies like

DIET,” Amir Vajdi, JTI-AMC factory lead for the Philippines, said. “That strong foundation made Batangas a natural location for JTI’s first DIET plant in Southeast Asia and allows us to continue advancing our manufacturing capabilities in the Philippines.” The tobacco manufacturer also spent more than P177 million ($3 million) to expand its Controlled Atmosphere (CA) treatment facility at the Batangas site. The expansion became operational in July and doubled the facility’s treatment capacity. The company said the project recorded 645,000 safe man-hours during implementation. The Batangas facility serves as JTI’s primary manufacturing hub for Asia, producing cigarettes for the Philippine market and exporting to 22 markets worldwide. Bless Aubrey Ogerio

PH Resorts to plug capital shortfall via restructuring

By VG Cabuag

@villygc

H Resorts Group Holdings Inc. (PHR) on Wednesday said it is targeting to more than double its authorized capital stock to P20 billion from the current P8 billion as part of its restructuring plan, which aims to wipe out its capital deficit. The company led by Davao businessman Dennis A. Uy said it plans to restore its stockholders’ equity to a positive position in two years following completion of the proposed restructuring, it said in a disclosure to the Philippine Stock Exchange. This takes into account the planned deconsolidation of its operating units under PH Travel and Leisure Holdings Corp. and

the corresponding reduction in the group’s liabilities. The plan also banks on the continued financial support committed by parent company Udenna Corp., the reduced cost structure of PHR as a holding company and management’s ongoing efforts to identify additional equity-accretive transactions. The company, however, said there is no assurance that the two-

year timeline will be achieved as it remains subject to the completion of the proposed restructuring, the execution of definitive agreements, receipt of required regulatory, corporate, and stockholder approvals and prevailing business, market and economic conditions. The proposed restructuring principally involves the rationalization and settlement of intercompany advances and balances, the transfer of PH Travel from PH Resorts to Udenna and the settlement of outstanding payables and other related obligations. “A significant component of the restructuring plan involves the proposed separation of PH Travel and its subsidiaries from PHR. Under the proposed restructuring, Udenna intends to acquire PHR’s ownership interest in PH Travel through the settlement of outstanding advances payable by PHR to Udenna,” the company said.

PH Travel fully owns the firms involved in the Mactan casino project—the LapuLapu Leisure Inc. and LapuLapu Land Corp.—Clark Grand Leisure Corp., which has already had its integrated casino-resort license revoked, DHPC, Donatela Resorts and Development Corp. and Davao PH Resort Corp. DPRC owns 3,134 square meters of prime commercial real estate in Azuela Cove, Davao City which is planned to be developer into a midrise Branded Serviced Residence/ Boutique Hotel. Discussions and due diligence are underway to select a complementary property on the Island Garden City of Samal that will be planned as branded serviced residences/hotel and resort that can be reached via a short scenic boat ride and the future Davao-Samal Bridge that is currently under construction. A property for share swap is being contemplated as initial potential funding for the Davao projects.

Companies BusinessMirror

Thursday, September 24, 2026

PSE STOCK QUOTATIONS

September 23, 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 COL FINANCIAL FERRONOUX HLDG MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

47.5 113.9 10.16 97.7 51.35 10.14 61 6.91 14.72 77.6 50.6 22.75 63.15 21.75 1.43 3.81 0.099 2,650 1.32 208 4,900 1.45

47.9 114 10.3 97.75 51.9 10.2 61.1 6.93 14.78 78 51.5 23.05 63.2 22 1.47 3.82 0.105 2,690 1.33 210 4,950 1.46

48.2 112.2 10.52 98.9 52 10.14 62 6.91 14.76 78.3 51.8 22.5 62.5 21.6 1.47 3.83 0.105 2,652 1.31 210 4,900 1.39

48.2 114.7 10.52 98.9 52 10.24 62.1 6.92 14.76 79.3 51.8 22.5 63.45 22 1.47 3.83 0.105 2,652 1.34 210 4,900 1.49

47.4 112 10.16 97.1 51.2 10.12 61 6.91 14.72 77.5 51 22 62.5 21.6 1.43 3.82 0.098 2,650 1.31 210 4,900 1.36

47.5 114 10.3 97.7 51.9 10.14 61 6.92 14.72 78 51.5 22.5 63.15 21.75 1.43 3.82 0.098 2,650 1.31 210 4,900 1.46

27,200 1,443,510 102,600 1,049,890 106,680 601,000 2,278,630 2,300 20,100 507,060 490 3,200 35,700 44,000 166,000 4,000 30,000 300 312,000 72,480 5 5,836,000

1,301,675 164,234,105 1,056,240 102,701,138 5,508,689 6,115,426 139,473,695 15,895 296,044 39,810,227 25,230 71,895 2,246,066 955,125 239,550 15,290 3,010 795,040 412,500 15,220,800 24,500 8,514,730

337,220 -1,607,490 -229,690 -42,835,620 -1,346,448 -464,088 -81,378,524 14,511 14,332,412 -505,763 -17,385 768,530 77,290 252,000 24,500 -300

INDUSTRIAL ACEN CORP 2.7 2.73 2.72 2.77 2.68 2.73 1,629,000 4,415,090 1,515,170 ALSONS CONS 1.21 1.22 1.35 1.37 1.22 1.22 10,314,000 12,928,950 469,520 ALTERNERGY HLDG 0.67 0.68 0.7 0.7 0.67 0.67 2,294,000 1,545,760 -871,000 ABOITIZ POWER 45.3 45.35 45.25 46.2 45.25 45.35 1,831,300 83,552,705 13,583,965 RASLAG 1.06 1.08 1.08 1.09 1.05 1.07 609,000 657,320 106,000 BASIC ENERGY 0.106 0.107 0.105 0.107 0.105 0.107 1,430,000 150,370 CITICORE RE 4.85 4.86 4.86 4.86 4.85 4.86 27,000 131,050 -4,850 FIRST GEN 20.1 20.45 20.85 21.2 20.05 20.1 355,100 7,251,335 -1,354,345 FIRST PHIL HLDG 89.9 90 90 90.45 89 90 82,120 7,375,679 -1,818,520 MERALCO 462 463 470 473.4 463 463 169,200 78,716,980 -58,198,642 MANILA WATER 33.9 33.95 34 34.35 33.5 33.95 1,690,500 57,352,480 -2,639,415 MAYNILAD 16.86 16.98 16.94 17 16.72 16.98 400,700 6,754,954 -384,332 PETRON 2.25 2.26 2.29 2.29 2.25 2.26 428,000 968,090 -257,720 PETROENERGY 4.82 4.9 5.05 5.05 4.9 4.9 218,200 1,069,583 PRYCE CORP 15.6 15.8 15.6 15.8 15.6 15.8 6,300 98,400 REPOWER ENERGY 9.46 9.61 9.55 9.61 9.45 9.61 7,000 66,438 -45 SEMIRARA MINING 16.24 16.26 16.22 16.6 15.94 16.24 1,566,600 25,418,376 -10,104,972 SYNERGY GRID 21.4 21.6 21.55 21.95 21 21.4 1,385,600 29,476,000 -2,854,760 SHELL PILIPINAS 8.15 8.19 8.25 8.32 8.12 8.19 913,600 7,503,826 -2,131,894 SPC POWER 9.2 9.39 9.06 9.39 9.06 9.39 2,700 24,587 SP NEW ENERGY 1.17 1.18 1.19 1.19 1.17 1.17 5,386,000 6,320,520 -1,276,660 TOP LINE 1.71 1.72 1.67 1.73 1.67 1.71 553,000 945,090 -1,150 VIVANT 18.88 20.6 18.6 20.6 18.32 20.6 3,800 77,222 59,540 AXELUM 2.77 2.82 2.81 2.81 2.77 2.8 145,000 406,590 CENTURY FOOD 32.6 33 32.9 33 32.4 33 527,800 17,397,380 -3,187,775 DEL MONTE 3.45 3.55 3.43 3.43 3.43 3.43 1,000 3,430 3,430 DNL INDUS 3.39 3.41 3.41 3.42 3.39 3.39 1,002,000 3,401,200 -458,170 EMPERADOR 15.36 15.42 15.32 15.44 15.3 15.42 197,700 3,034,278 112,554 SMC FOODANDBEV 43.4 43.5 43.1 43.9 43.1 43.4 69,500 3,023,650 -2,810,095 FIGARO GROUP 0.64 0.66 0.64 0.67 0.64 0.66 3,342,000 2,182,580 -54,730 ALLIANCE SELECT 0.4 0.44 0.405 0.435 0.4 0.435 190,000 79,050 FRUITAS HLDG 0.64 0.65 0.64 0.64 0.64 0.64 71,000 45,440 GINEBRA 213.4 215 212 217 210 213.4 24,650 5,271,628 1,289,254 JOLLIBEE 143.9 144 144 144.2 142.8 143.9 195,160 28,043,384 8,338,714 KEEPERS HLDG 1.83 1.84 1.82 1.85 1.82 1.83 189,000 347,330 -68,060 MACAY HLDG 5.45 5.85 5.45 5.45 5.45 5.45 3,700 20,165 MAXS GROUP 2.03 2.07 2.08 2.08 2.07 2.08 11,000 22,860 MONDE NISSIN 6.15 6.16 6.16 6.25 6.1 6.16 860,600 5,302,289 -1,291,736 SHAKEYS PIZZA 5.15 5.48 5.14 5.15 5.14 5.15 3,200 16,479 14,420 ROXAS AND CO 3 3.09 3 3.14 2.95 3.09 101,000 305,670 -3,100 RFM CORP 5.11 5.13 5.15 5.2 5.11 5.11 344,900 1,769,259 -468,463 SWIFT FOODS 0.052 0.053 0.052 0.052 0.052 0.052 1,200,000 62,400 UNIV ROBINA 58.7 58.95 58.15 59.65 57.8 58.95 1,598,860 94,085,675 -3,516,167 VITARICH 0.49 0.51 0.5 0.51 0.49 0.5 234,000 116,020 -12,520 VICTORIAS 1.9 1.91 1.91 1.91 1.91 1.91 1,000 1,910 1,910 ATN HLDG A 0.38 0.385 0.39 0.39 0.385 0.385 810,000 312,850 ATN HLDG B 0.38 0.39 0.39 0.39 0.385 0.385 200,000 77,500 CONCREAT HLDG 1.19 1.24 1.2 1.21 1.2 1.2 712,000 856,650 271,040 EEI CORP 1.95 1.99 1.99 1.99 1.94 1.95 87,000 169,810 MEGAWIDE 5.35 5.38 5.4 5.4 5.31 5.38 509,500 2,744,913 390,185 SUPERCITY 38 38.75 28.75 42.5 27.1 38.75 17,400 640,825 CROWN ASIA 1.86 1.89 1.93 1.94 1.86 1.86 249,000 478,090 EUROMED 1.16 1.22 1.23 1.23 1.16 1.16 17,000 20,460 -12,000 CONCEPCION 10.54 10.84 10.66 10.96 10.66 10.88 6,800 72,636 INTEGRATED MICR 7.99 8 7.8 8.14 7.67 7.99 4,432,100 35,333,507 -5,565,965 IONICS 4.1 4.12 3.71 4.13 3.7 4.12 14,909,000 59,541,130 4,952,740 PANASONIC 7.15 7.16 7.25 7.25 7.01 7.14 3,300 23,607 CIRTEK HLDG 1.63 1.64 1.4 1.66 1.39 1.64 24,030,000 37,279,590 7,352,570

HOLDING & FRIMS

ABACORE CAPITAL 0.315 0.325 0.32 0.33 0.315 0.325 2,370,000 755,950 ASIABEST GROUP 63.45 63.5 63.05 63.8 62 63.5 849,950 53,496,221 15,839,299 AYALA CORP 485 490 495 498.4 480 485 366,820 179,755,792 -23,016,656 ABOITIZ EQUITY 37.4 37.7 37 37.75 37 37.7 1,755,100 65,780,405 6,990,940 ALLIANCE GLOBAL 8.85 8.87 8.9 8.9 8.81 8.85 159,300 1,408,201 -240,405 ANSCOR 16.54 16.98 16.48 16.98 16.46 16.98 13,300 225,060 ANGLO PHIL HLDG 1.51 1.52 1.63 1.65 1.52 1.52 1,655,000 2,581,590 -773,700 COSCO CAPITAL 7.51 7.52 7.56 7.57 7.52 7.52 355,200 2,675,198 -709,035 DMCI HLDG 7.7 7.71 7.7 7.78 7.69 7.7 3,377,300 26,119,176 -2,158,007 FILINVEST DEV 3.85 4.01 4 4.03 4 4.03 5,000 20,030 FJ PRINCE A 2.5 2.65 2.52 2.52 2.52 2.52 25,000 63,000 FORUM PACIFIC 0.28 0.31 0.28 0.28 0.28 0.28 10,000 2,800 GT CAPITAL 427 428 417 428 409.6 428 149,010 62,370,030 -360,510 JG SUMMIT 18.84 18.94 18.92 18.94 18.84 18.94 446,300 8,416,556 -5,732,188 LODESTAR 0.45 0.465 0.49 0.49 0.45 0.45 1,380,000 634,650 LOPEZ HLDG 5.41 5.49 5.41 5.49 5.41 5.41 51,900 280,923 -20,702 LT GROUP 15.26 15.28 15.28 15.3 15.16 15.26 1,572,600 23,994,592 13,686,272 PACIFICA HLDG 1.05 1.15 1.05 1.05 1.05 1.05 1,000 1,050 PRIME MEDIA 1 1.14 1.01 1.13 0.98 1.13 7,000 7,090 SOLID GROUP 1.11 1.13 1.16 1.16 1.1 1.13 1,183,000 1,312,530 -653,170 SM INVESTMENTS 504 504.5 513.5 514.5 502 504.5 9,119,510 4,616,355,660 -408,204,055 SAN MIGUEL CORP 61.55 61.6 61.6 62 61.3 61.6 230,120 14,170,485 -1,105,235 SEAFRONT RES 2.23 2.38 2.21 2.21 2.21 2.21 4,000 8,840 TOP FRONTIER 51.45 53 53 53 51.45 51.45 340 17,788 ZEUS HLDG 0.07 0.078 0.071 0.071 0.07 0.07 1,160,000 81,490 PROPERTY ARTHALAND CORP 0.43 0.45 0.45 0.45 0.43 0.43 110,000 48,400 -13,500 AYALA LAND 15.06 15.1 15.12 15.3 14.94 15.06 6,226,200 93,845,736 -61,874,688 AYALA LAND LOG 1.13 1.15 1.16 1.16 1.13 1.15 44,000 50,550 14,950 ALTUS PROP 11.04 11.2 11 11 11 11 1,000 11,000 ARANETA PROP 0.275 0.295 0.315 0.32 0.295 0.295 280,000 84,000 AREIT RT 37.2 37.5 37.1 37.5 37 37.5 311,500 11,596,325 617,335 A BROWN 0.8 0.84 0.82 0.87 0.8 0.85 78,000 63,850 -900 CITYLAND DEVT 0.59 0.6 0.59 0.6 0.59 0.6 10,000 5,910 CROWN EQUITIES 0.089 0.092 0.089 0.092 0.089 0.092 1,180,000 105,080 CEB LANDMASTERS 2 2.01 2 2.01 1.98 2 388,000 772,810 -24,020 CENTURY PROP 0.59 0.6 0.59 0.61 0.59 0.6 4,906,000 2,940,910 -1,260 CITICORE RT 2.89 2.9 2.93 2.93 2.88 2.89 2,137,000 6,195,190 -2,505,440 DOUBLEDRAGON 11.78 11.8 11.86 11.86 11.72 11.78 68,200 804,584 12,352 DDMP RT 1.03 1.04 1.02 1.04 1.02 1.04 2,124,000 2,183,810 -791,080 DM WENCESLAO 4.78 4.83 4.78 4.78 4.78 4.78 6,000 28,680 -4,780 EVERWOODS 0.026 0.028 0.026 0.028 0.026 0.028 400,000 10,800 EMPIRE EAST 0.102 0.104 0.104 0.104 0.102 0.102 1,740,000 178,330 FILINVEST RT 2.86 2.87 2.88 2.88 2.86 2.87 319,000 914,600 FILINVEST LAND 0.68 0.69 0.68 0.69 0.68 0.69 157,000 108,310 11,730 GLOBAL ESTATE 0.58 0.63 0.6 0.63 0.6 0.63 68,000 40,860 KEPPEL PROP 2.41 2.49 2.46 2.46 2.46 2.46 1,000 2,460 MEGAWORLD 2.11 2.13 2.11 2.13 2.11 2.13 1,729,000 3,659,480 1,516,730 MRC ALLIED 0.67 0.68 0.67 0.68 0.66 0.68 62,319,000 41,828,040 25,160 MREIT RT 13.6 13.62 13.48 13.8 13.44 13.6 398,300 5,418,092 2,571,300 OMICO CORP 0.102 0.103 0.102 0.102 0.102 0.102 2,300,000 234,600 PRMIERE HORIZON 0.17 0.172 0.172 0.173 0.17 0.172 270,000 46,330 PREMIERE RT 1.01 1.02 1.03 1.03 1.01 1.01 113,000 115,730 -34,800 RL COMM RT 6.73 6.74 6.73 6.82 6.71 6.73 3,371,600 22,726,483 -7,536,099 ROBINSONS LAND 16.7 16.74 16.72 16.88 16.62 16.7 944,500 15,809,408 -6,202,036 ROCKWELL 2.76 2.77 2.84 2.84 2.77 2.77 82,000 230,520 -81,570 SHANG PROP 2.98 3.02 2.99 3.02 2.98 3 154,000 460,720 42,650 STA LUCIA LAND 1.89 1.9 1.9 1.9 1.71 1.9 61,000 108,480 -310 SM PRIME HLDG 16.22 16.24 16.2 16.38 16.06 16.24 6,326,400 102,846,446 -20,188,430 SUNTRUST RESORT 0.39 0.41 0.405 0.405 0.4 0.4 400,000 160,500 WELLEX INDUS 0.3 0.34 0.3 0.3 0.3 0.3 240,000 72,000 SERVICES ABS CBN 2.58 2.65 2.65 2.65 2.57 2.57 47,000 123,780 GMA NETWORK 3.7 3.71 3.75 3.75 3.61 3.71 139,000 512,040 MLA BRDCASTING 5.03 5.47 5.49 5.49 5.49 5.49 100 549 DITO CME HLDG 0.61 0.62 0.62 0.62 0.61 0.61 2,441,000 1,503,620 260,080 GLOBE TELECOM 1,580 1,585 1,590 1,590 1,578 1,585 19,260 30,524,630 5,760,040 PLDT 1,129 1,130 1,133 1,139 1,127 1,130 47,435 53,658,140 -8,130,380 APOLLO GLOBAL 0.0058 0.006 0.006 0.006 0.0058 0.006 24,000,000 140,900 CONVERGE 9.11 9.12 9.05 9.14 9.05 9.12 828,600 7,544,720 -4,082,794 DFNN INC 0.64 0.67 0.67 0.67 0.64 0.67 10,000 6,630 ISLAND INFO 0.135 0.138 0.13 0.139 0.126 0.139 8,990,000 1,204,230 NOW CORP 0.39 0.4 0.4 0.405 0.39 0.39 600,000 234,350 -66,300 TRANSPACIFIC BR 0.121 0.125 0.132 0.133 0.121 0.125 580,000 73,570 CHELSEA 0.84 0.86 0.84 0.86 0.84 0.86 248,000 212,580 CEBU AIR 21.45 21.55 21.8 22 21.1 21.55 529,700 11,423,170 -3,073,065 INTL CONTAINER 900 902.5 911 917.5 899 900 675,530 611,172,245 -71,176,450 LBC EXPRESS 7.55 8.02 8.01 8.01 7.97 7.97 5,500 43,934 4 LORENZO SHIPPNG 0.64 0.69 0.64 0.64 0.64 0.64 5,000 3,200 MACROASIA 3.51 3.52 3.63 3.63 3.52 3.52 34,000 120,290 -35,360 METRO ALLIANCE 0.62 0.63 0.63 0.69 0.63 0.63 70,000 45,940 PAL HLDG 3.57 3.6 3.64 3.64 3.2 3.6 1,428,000 5,006,040 749,950 HARBOR STAR 1.61 1.63 1.77 1.79 1.5 1.62 16,736,000 26,706,600 95,260 BOULEVARD HLDG 0.029 0.031 0.03 0.031 0.03 0.03 16,800,000 509,700 DISCOVERY WORLD 0.91 0.95 0.93 0.95 0.93 0.95 4,000 3,780 -970 GRAND PLAZA 5.02 5.03 5.03 5.03 5.03 5.03 200 1,006 PH RESORTS GRP 0.18 0.181 0.179 0.219 0.179 0.181 27,330,000 5,558,520 172,320 WATERFRONT 0.42 0.45 0.42 0.42 0.42 0.42 10,000 4,200 CENTRO ESCOLAR 14.64 15.1 15.1 15.1 14.56 15.1 1,500 22,002 16,016 FAR EASTERN U 795 805 799 802 798.5 802 1,990 1,591,555 IPEOPLE 6.74 6.92 7.15 7.15 6.92 6.92 17,400 120,809 STI HLDG 1.28 1.3 1.29 1.29 1.28 1.28 230,000 295,690 129,280 BELLE CORP 1.09 1.1 1.1 1.11 1.09 1.1 520,000 568,330 37,360 BLOOMBERRY 1.92 1.93 1.97 1.98 1.9 1.92 17,668,000 33,999,160 15,964,290 PACIFIC ONLINE 1.52 1.6 1.59 1.6 1.59 1.6 12,000 19,150 -7,950 DIGIPLUS 8.29 8.3 8.4 8.7 8.24 8.29 2,790,800 23,579,333 6,247,772 PHILWEB 14.2 14.22 14.12 14.6 14.12 14.22 1,771,500 25,234,436 -10,215,494 METRO RETAIL 1.06 1.07 1.08 1.08 1.06 1.07 9,000 9,580 PUREGOLD 40 40.05 40 40.05 39.5 40 2,092,200 83,641,110 -9,057,180 PHIL SEVEN CORP 30.6 30.65 31.1 31.1 30.65 30.65 1,600 49,130 -36,735 SSI GROUP 2.05 2.08 2.05 2.05 2.02 2.05 19,000 38,890 22,550 UPSON INTL CORP 0.77 0.8 0.79 0.8 0.77 0.8 136,000 107,520 WILCON DEPOT 5.6 5.65 5.7 5.7 5.6 5.6 501,500 2,832,007 129,596 MEDILINES 0.226 0.233 0.227 0.227 0.226 0.226 160,000 36,180 PAXYS 3.17 3.24 3.2 3.2 3.18 3.18 60,000 191,060 28,800 PHILCOMSAT 1.62 1.63 1.63 1.63 1.62 1.62 11,000 17,830 1,630 SBS PHIL CORP 3.08 3.19 3.07 3.2 3.07 3.2 38,000 117,190 MINING & OIL ATOK 1.94 2.1 2.09 2.1 2 2.1 55,000 110,380 APEX MINING 18.34 18.36 18.1 18.36 17.62 18.34 5,009,400 90,381,832 16,987,024 ATLAS MINING 20.95 21 21.25 21.5 20.75 21 6,215,500 130,575,980 10,441,255 DIZON MINES 4.3 4.79 4.3 4.3 4.3 4.3 9,000 38,700 EC VULCAN 0.33 0.335 0.345 0.345 0.335 0.335 330,000 110,850 FERRONICKEL 2.1 2.13 2.18 2.18 2.05 2.13 1,565,000 3,301,260 178,380 GEOGRACE 0.086 0.089 0.092 0.099 0.085 0.089 960,000 84,010 LEPANTO A 0.238 0.243 0.255 0.255 0.237 0.238 65,830,000 15,905,200 LEPANTO B 0.234 0.24 0.246 0.246 0.234 0.234 3,240,000 781,490 4,680 MANILA MINING A 0.0087 0.0088 0.0091 0.0091 0.0088 0.0088 37,000,000 326,400 MANILA MINING B 0.0085 0.0088 0.0088 0.0088 0.0088 0.0088 49,000,000 431,200 MARCVENTURES 0.78 0.79 0.79 0.8 0.78 0.79 388,000 304,820 NIHAO 0.55 0.57 0.54 0.6 0.54 0.57 247,000 141,470 23,600 NICKEL ASIA 4.15 4.2 4.15 4.23 4.15 4.2 1,621,000 6,788,080 -2,028,590 OCEANAGOLD 35.65 35.75 35.4 35.9 35.4 35.75 387,300 13,808,330 2,109,600 ORNTL PENINSULA 0.57 0.58 0.6 0.6 0.57 0.58 721,000 417,700 PX MINING 12.7 12.86 13.2 13.22 12.6 12.7 6,691,700 85,977,940 15,340,172 UNITED PARAGON 0.0089 0.0093 0.0089 0.0089 0.0089 0.0089 16,000,000 142,400 ENEX ENERGY 3.6 3.8 3.83 3.83 3.7 3.81 45,000 167,470 ORNTL PETROL A 0.016 0.017 0.018 0.018 0.016 0.017 80,100,000 1,363,500 ORNTL PETROL B 0.016 0.017 0.018 0.018 0.016 0.017 79,300,000 1,279,000 PHILODRILL 0.01 0.011 0.011 0.012 0.01 0.01 94,100,000 1,007,300 PXP ENERGY 3.22 3.25 3.34 3.34 3.2 3.25 331,000 1,077,930 -325,050 PREFFERED ACEN PREF A 975 995 1,007 1,007 1,007 1,007 20 20,140 ACEN PREF B 1,030 1,040 1,039 1,040 1,039 1,040 50 51,955 -5,200 AC PREF B4R 1,901 1,918 1,900 1,900 1,900 1,900 10 19,000 ALCO PREF D 482.4 497 488 488 488 488 300 146,400 BRN PREF C 101.1 102 102 102 102 102 140 14,280 CEB PREF 23.5 24.5 23 23.5 23 23.5 27,500 633,600 CLI PREF A1 970 990 990 990 990 990 10 9,900 CLI PREF A2 991 1,030 1,030 1,030 1,030 1,030 10 10,300 DD PREF 94.55 95.2 94.5 95.2 94.2 95.2 24,930 2,358,945 19,950 EEI PREF B 93.8 96.2 96.2 96.2 96.2 96.2 20 1,924 FDC PREF B 991 993 991 991 991 991 100 99,100 GLO PREF ANV 1,902 1,947 1,949 1,949 1,949 1,949 5 9,745 GTCAP PREF B 1,000 1,002 1,000 1,002 999 1,000 270 269,970 JFC PREF B 983 1,010 1,010 1,010 1,010 1,010 5 5,050 MWIDE PREF 6B 99 100 101 101 100 100 4,820 484,242 -484,242 MWIDE PREF 7A 99 101.3 99 99 99 99 10 990 MWIDE PREF 7B 99.65 100 100 100 100 100 500 50,000 PCOR PREF 4D 988 993 988 988 988 988 260 256,880 PCOR PREF 4E 985 987 987 987 987 987 250 246,750 SMC PREF 2L 77.1 81.5 81.8 81.8 81.8 81.8 10 818 SMC PREF 2N 77.1 78.5 78 78 78 78 300 23,400 SMC PREF 2O 78 78.85 78.85 78.85 78.85 78.85 480 37,848 SMC PREF 2U 75 76 75.5 75.5 75.5 75.5 17,350 1,309,925 SMC PREF 2V 75 77.9 78 78 75 75.1 20,210 1,537,431 751 SMC PREF 2W 77.5 79 78 79 78 79 390 30,600 SMC PREF 2X 79 79.4 79.4 79.4 79 79 670 53,138 TOP PREF A1 99.9 100 99.65 99.65 99.65 99.65 500 49,825 TOP PREF A2 100.5 102.4 102.7 102.7 102.4 102.5 120 12,301 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

WARRANTS

AGI WARRANT

2.38 3.31 3.14 3.95 1.06

SM A L L, M ED I U M & EM E R G IN G HAUS TALK ITALPINAS LFM PROP MAKATI FINANCE XURPAS NEXGEN ENERGY

1.34 0.56 0.018 1.85 0.222 2.54 98.4

1.1

1.05

111,000

116,550

-116,550

1.38 0.59 0.02 2.09 0.224 2.6

1.33 0.58 0.02 1.85 0.21 2.58

1.38 0.59 0.02 1.85 0.224 2.6

1.33 0.56 0.017 1.85 0.21 2.53

1.38 0.59 0.017 1.85 0.222 2.6

433,000 280,000 1,500,000 4,000 660,000 5,000

589,710 157,370 27,100 7,400 142,940 12,890

101,850 1,120 -

EXHANGE TRADE FUNDS ATR FAMI ETF

98.5

98.5 99 98.5 98.5 8,490 838,025 112,785

www.businessmirror.com.ph

Bill wants SEC to penalize, shutter errant lending apps

By Jovee Marie N. Dela Cruz

@joveemarie

LAWMAKER has filed a bill that aims to strengthen the powers of the Securities and Exchange Commission (SEC) to shut down rogue online lending applications (OLAs) and hold abusive debt collectors criminally liable. Fi led by Q uezon C it y 5t h District Rep. Patrick Michael Vargas, House Bill 9738, or the proposed “Fair Debt Collection and Digital Lending Consumer Protection Act,” seeks to address complaints filed with the SEC and the National Privacy Commission (NPC) involving harassment, death threats and public shaming by unregulated digital lending platforms.

“Often, people who borrow from digital lenders are already in desperate situations. We aim to protect them from being pushed further into hardship by intimidating, abusive and illegal collection practices,” Vargas said. Under HB 9738, the SEC would be authorized to impose fines of up to P5 million, suspend or permanently revoke certificates of authority, blacklist responsible

NexGen unit gives up wind farm deals

EXGEN Energ y Cor p.’s wind development subsidiary, Airstream Renewables Corp. (ARC), told the Department of Energy (DOE) that it will surrender its exclusive rights to two wind farm projects due to technical and safety limitations discovered during site assessments. In a disclosure to the stock exchange on Wednesday, the company cited rapid residential expansion, creating space limitations, environmental worries, and heightened safety and navigational hazards as reasons why it will give up wind energy service contract (WESC) no. 2023-12-356, or the Asisan wind farm project, covering portions of Tagaytay City, Mendez, and Alfonso, Cavite. For WESC No. 2024-02-373, or the Sambong wind farm project located across Tagaytay City and Alfonso, Cavite, as well as Laurel and Nasugbu, Batangas, the company cited hollow bedrock terrain, making wind turbine generator (WTG) installation structurally challeng-

ing and financially unviable. ARC is currently awaiting the DOE’s official acceptance of the relinquishment and the termination of both WESCs. Because both projects are still in their early pre-development stages, this termination will have no impact on NexGen’s financial condition or ongoing operations. In December 2025, NexGen announced that ARC bagged onshore wind energy service contracts (WESC) with a total capacity of 1.7 gigawatts from the DOE. These are the 600-megawatt (MW) Pangasinan Onshore Wind Power Project, 600-MW Samar Onshore Wind Power Project, and the 500-MW Nueva Ecija Onshore Wind Power Project. The projected investment amounts to $2.5 billion. NexGen raised some P504 million in gross proceeds from its initial public offering in July 2024. The company is using the funds to carry out its growth plans. It also allocated capital to develop and acquire renewable energy projects. Lenie Lectura

Casino Plus turns over slot jackpot to winner

ASINO Plus has paid out P122.41 million to a single player, which the online gaming platform said is the “largest slot machine jackpot ever won in the Philippines.” The prize was formally turned over on to a verified winner, who asked that their identity be fully protected. The winner attended the handover masked. Casino Plus, which is licensed by the Philippine Amusement and Gaming Corp. (Pagcor), said it honored the request in line with what it calls its “Player-First Philosophy.” “(The winner’s) story of strength, loyalty, faith, and perseverance reflects what Casino Plus stands for,” said Evan Spytma, CEO of Casino Plus. “The P122.4-million payout is not an isolated event; it represents our commitment to providing a

world-class platform where players experience legitimate, life-changing moments under full Pagcor oversight.” The slot jackpot adds to a string of large payouts the platform has reported. These include a P303.5million Color Game jackpot in August 2024 and a P271.4-million turnover in April. The company also said it processed more than P1 billion in validated jackpot payouts in the second quarter. Casino Plus said these figures set new industry benchmarks for player liquidity, operational scale and regulatory transparency. Last month, it said it launched a new customer engagement program as it marked a series of billionpeso milestones over the past eight months. Lorenz S. Marasigan

corporate officers and issue immediate cease-and-desist orders against entities that employ unfair collection methods. The bill also calls for the creation of a Verified Collection Identity System (VCIS), which would require lending companies and third-party collection agencies to register their collection agents and official communication channels with the SEC. Collection calls or text messages originating from unregistered, anonymous or deceptive numbers would be prohibited under the proposed measure. “Through this bill, we are giving the SEC additional authority to clean up the digital lending sector, shut down illegal OLAs and hold those who engage in harassment accountable under the law.” Beyond administrative sanctions, HB 9738 would link pro-

MUTUAL FUNDS

hibited digital collection practices to criminal liabilities under the Revised Penal Code, the Data Privacy Act and the Cybercrime Prevention Act. I f abu sive debt col lec t ion acts—including grave coercion, cyber libel or the unauthorized processing of private contact lists—are committed through digital technology, the bill provides that the penalties would be imposed one degree higher. Vargas also urged the public to exercise extreme caution when downloading mobile loan applications and to transact only with legitimate, SEC-registered financial institutions. “While we support financial inclusion, we will never tolerate harassment of any kind. Borrowing money in a time of need should never come at the cost of the dignity and security of our citizens.”

September 23, 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. -A204.33 -6.66% 1.1% -1.52% -2.73% -4.56% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 2.3543 12.54% 17.94% 8.85% 5.15% 8.92% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 2.7485 -5.84% 0.2% -1.91% -4.44%-3.6% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.7434 -1.06% 3.73% 0.24% N.A1.25% FIRST METRO CONSUMER FUND, INC. -A 0.486 -16.06% -8.91% -8.75% N.A -12.61% FIRST METRO SAVE AND LEARN EQUITY FUND, INC. -A 4.176 -8.19% -1.81% -3.52% -2.61% -4.5% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A 0.6196 -6.57% -1.8% -3.5% N.A-3.58% MBG EQUITY INVESTMENT FUND, INC. -A 66.92 -22.18% -8.28% -6.86% N.A -25.19% PAMI EQUITY INDEX FUND, INC. -A 40.4899 -4.65% -0.01% -2.23% -2.45% -2.1% PHILAM STRATEGIC GROWTH FUND, INC. -A 428.41 -6.84% 0.69% -2.02% -2.56% -4.7% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.5522 1.73% 11.18% 4.7% 1.78% -0.58% PHILEQUITY FUND, INC. -A34.4159 -1.76% 2.76% -0.14% -0.81% -0.04% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A 0.9156 2.06% 4.52% 0.69% N.A 3.14% PHILEQUITY PSE INDEX FUND, INC. -A 4.3884 -3.73% 1.02% -1.19% -1.59% -1.82% PHILIPPINE STOCK INDEX FUND CORP. -A 722.26 -4.07% 0.66% -1.5% -1.76% -1.73% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.6953 -0.91% 2.78% -0.13% -2.74% -0.97% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 3.0105 -10.76% -1.61% -3.65% -3.29%-6.2% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.8089 -4.29% 0.22% -1.87% -2.03%-1.83% UNITED FUND, INC. -A3.52925.08% 6.15% 1.66% 0.2% 7.35% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) COL EQUITY INDEX UNITIZED MUTUAL FUND, INC. -A 1.0144 -3.96% 0.69% N.A N.A -1.79% COL STRATEGIC GROWTH EQUITY UNITIZED MUTUAL FUND, INC. -A 1.01 -5.31% N.A N.A N.A -3.21% PHILEQUITY ALPHA ONE FUND, INC. -A 0.8716 -9.46% -3.18% -4.32% N.A -7.7% PHILIPPINE STOCK INDEX FUND CORP. -A 871.78 -4.03% 0.46% N.A N.A -1.66% EXCHANGE TRADED FUND (SHARES) ATR FAMI PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 98.5615 -3.8% 0.87% -1.19% -1.36%-1.45% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.2773 27.79% 16.22% 2.13% 3.38% 24.68% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $2.4732 15.23% 16.6% 6.47% 9.01% 11.19% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (UNITS) PHILEQUITY GLOBAL FUND, INC. -A,2 1.0924 N.A N.A N.A N.A N.A BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.1407 -0.69% 0.7% -0.66% -1.04% 0.02% ATRAM UNICAPITAL DIVERSIFIED GROWTH FUND, INC. -A 1.7028 5.74% 5.66% 0.42% -0.64%4.06% FIRST METRO SAVE AND LEARN BALANCED FUND, INC. -A 2.4535 -2.11% 0.48% -1.41% -0.73%-0.35% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A 0.2255 -3.51% 6.29% 2.8% N.A-2.76% NCM MUTUAL FUND OF THE PHILS., INC. -A,1 1.9474 -0.62% 0.86% -0.13% 0.15% -2.75% PAMI HORIZON FUND, INC. -A3.6536 -2.86% 2.48% -0.13% -0.5% -3.6% PHILAM FUND, INC. -A15.439-4.74% 1.2% -1.27% -1.07% -3.57% SOLIDARITAS FUND, INC. -A2.0651 -2.09% 1.93% 0.12% -0.29% -1.68% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.3175 -5.58% 0.63% -1.5% -1.44%-3.1% SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.8689 -6.81% 0.29% -0.78% -1.25% -4.59% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) BPI WEALTH BUILDER MULTI-ASSET MUTUAL FUND, INC. -A,3 10.78 N.A N.A N.A N.A N.A SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A 0.9762 0.13% 2.13% -0.17% N.A -0.27% SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A 0.8251 -3.62% 0.87% -1.82% N.A -1.98% SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A 0.7928 -4.01% 0.38% -2.32% N.A -2.27% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03333 -1.71% 1.39% -2.77% -0.78% -2.83% PAMI ASIA BALANCED FUND, INC. -B $1.1614 -4.32% 10.03% 1.58% 2.17% -4.02% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $5.6912 9.26% 12.1% 3.68% 5.86%6.61% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.2051 3.04% 6.99% 0.37% 2.37%1.83% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM PESO BOND FUND, INC. -A 424.73 2.22% 3.19% 2.6% 2.52% 1.13% ATRAM CORPORATE BOND FUND, INC. -A 1.9898 2.28% 1.29% 0.62% 0.38% 1.6% COCOLIFE FIXED INCOME FUND, INC. -A 3.6059 1.35% 3.06% 2.16% 3.17% 0.17% EKKLESIA MUTUAL FUND, INC. -A 2.4373 0.16% 2.84% 1.48% 1.38% -0.62% FIRST METRO SAVE AND LEARN FIXED INCOME FUND, INC. -A 2.4986 -2.25% 1.04% 0.47% 1.1%-2.74% PHILAM BOND FUND, INC. -A4.4987 -1.62% 2.26% 0.07% 0.65% -2.41% PHILAM MANAGED INCOME FUND, INC. -A 1.545 2.73% 4.47% 3.2% 2.94% 1.64% PHILEQUITY PESO BOND FUND, INC. -A 4.325 1.12% 2.85% 1.64% 1.87% 0.28% SOLDIVO BOND FUND, INC. -A1.1306 1.83% 2.85% 1.73% 1.68% 0.9% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.4425 -2.57% 2.04% 1.36% 1.93% -2.77% SUN LIFE PROSPERITY GS FUND, INC. -A 1.8307 -2.23% 1.77% 0.91% 1.36% -2.85% CORPORATE DEBT VEHICLE (UNITS) ATRAM UNITIZED CORPORATE DEBT FUND 2 -A,5 1.016 N.A N.A N.A N.A N.A PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ALFM DOLLAR BOND FUND, INC. -A $532.8 1.6% 2.84% 1.76% 1.91% 0.71% ALFM EURO BOND FUND, INC. -A Є222.31 -0.28% 1.71% 0.16% 0.48% -0.66% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.0479 -3.22% 0.49% -2.77% -0.73% -2.52% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0256 -3.03% 1.89% -0.46% 0.2%-3.4% PAMI GLOBAL BOND FUND, INC. -B $1.0466 -1.85% 7.81% 0.02% -0.55% -1.26% PHILAM DOLLAR BOND FUND, INC. -A $2.4096 -2.27% 3.21% -0.91% 0.48% -2.84% PHILEQUITY DOLLAR INCOME FUND, INC. -A $0.0630921 -1.8% 1.36% 0.04% 1.05% -2.1% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.8642 -2.33% 2.61% -2.15% -0.74%-2.33% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) AIB MONEY MARKET MUTUAL FUND, INC. -A 1.1889 2.76% N.A N.A N.A 1.93% ALFM MONEY MARKET FUND, INC. -A 153.07 4.11% 4.11% 3.2% 2.87% 2.82% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A 1.2268 3.43% 3.78% 3.06% N.A2.43% SUN LIFE PROSPERITY PESO STARTER FUND, INC. -A 1.5175 3.48% 3.59% 2.98% 2.77% 2.43% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM MONEY MARKET FUND, INC. -A 117.27 4.06% 4.3% N.A N.A 2.91% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.1968 2.48% 3.3% 2.48% N.A 1.74% FEEDER FUNDS PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A 48.0458 6.63% 4.19% N.A N.A 4.2% MBG ASIA FRONTIER FEEDER UMF, INC. -B,4 1.8283 N.A N.A N.A N.A N.A SUN LIFE PROSPERITY WORLD EQUITY INDEX FEEDER FUND, INC. -A 2.5948 28.64% 22.51% 14.6% N.A19.57% SUN LIFE PROSPERITY WORLD INCOME FUND, INC. -A 1.1918 10.64% 6.52% N.A N.A 6.82% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (UNITS) ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A $0.7981 -2.66% 1.18% -4.02% N.A -1.47% A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. 1 - EFFECTIVE OCTOBER 1, 2025, ITS FUND MANAGEMENT IS WITH BPI WEALTH. 2 - LAUNCH DATE IS FEBRUARY 2, 2026. 3 - LAUNCH DATE IS DECEMBER 18, 2024. MEMBERSHIP WITH PIFA WAS OFFICIALLY APPROVED ON SEPTEMBER 12, 2025. 4 - MEMBERSHIP WITH PIFA WAS OFFICIALLY APPROVED ON MARCH 26, 2026. 5 - LAUNCH DATE IS APRIL 17, 2026, AND IT REPRESENTS THE SECOND TRANCHE OF THE ATRAM UNITIZED CORPORATE DEBT VEHICLE, 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

Banking&Finance BusinessMirror

Insured, but not yet paid: Accounting for insurance claims after a calamity

Insurance doesn’t erase the loss

IMAGINE a company whose warehouse is flooded during a typhoon. A machine with a carrying amount of P5 million is badly damaged and can no longer be used. Fortunately, the machine is insured. It may be tempting to say, “There is no problem. Insurance will pay for it.” Accounting looks at it differently. The damage to the machine and the possible insurance recovery are two separate matters. The company must first account for what happened to the asset. Depending on the condition of the machine, this may involve recognizing an impairment loss under IAS 36 or removing the asset from the books under IAS 16 if it has been destroyed or can no longer provide future benefits. Having insurance does not allow the company to keep a damaged or destroyed asset in its books as though nothing happened.

A claim is not yet cash

SUPPOSE the company files a P5million insurance claim the day after the typhoon. Does this mean it can immediately record a P5-million receivable? Not necessarily. Filing the claim is only the start of the process. The insurer may still need to inspect the machine, review the policy and confirm whether the damage is covered. There may be deductibles, limits or exclusions. The insurer may also approve an amount lower than what the company originally claimed. IAS 16 provides that compensation from third parties for property, plant and equipment that has been impaired, lost or given up is recognized in profit or loss when the compensation becomes receivable. Until then, management needs to look carefully at the facts rather than simply assume that every peso claimed will eventually be collected.

What if the recovery is still uncertain?

THIS is where IAS 37 on provisions, contingent liabilities and contingent assets may also become relevant. When a possible insurance recovery remains uncertain, the company may be dealing with a contingent asset. A contingent asset is not recognized in the financial statements. As the claim progresses, however, circumstances may change.

If the inflow of economic benefits becomes probable, appropriate disclosure may be needed. Once the inflow becomes virtually certain, it is no longer considered a contingent asset, and recognition becomes appropriate. In practical terms, there is a big difference between “We filed a claim,” “The insurer will probably pay,” and “The insurer has confirmed what it owes us.” Those statements may sound similar in ordinary conversation, but they can have different accounting effects.

Insurance may not cover everything

LET us go back to the P5-million machine. After completing its review, suppose the insurer confirms that it will pay only P4.5 million because part of the loss is not covered by the policy. The accounting for the damaged machine and the insurance compensation remains separate. The company recognizes the effect of losing the machine and accounts for the P4.5-million recovery when the requirements for recognition are met. The example shows an important point: being insured does not always mean being fully protected from loss.

What if the typhoon comes after year-end?

THERE is another issue when a calamity happens shortly after the reporting date. Suppose the company’s year-end is December 31, but a major typhoon strikes in January before its financial statements are authorized for issue. IAS 10 on events after the reporting period generally considers a new event arising after year-end as nonadjusting. The company does not go back and change its December 31 figures simply because the typhoon happened in January. However, if the damage is material, the company may need to tell readers of the financial statements what happened and provide an estimate of the financial effect, when this can be reasonably determined.

Telling the financial story properly

INSURANCE can be a lifeline after a calamity. It can provide funds to repair buildings, replace equipment and help a business reopen. But insurance coverage does not make a loss disappear, and filing a claim does not automatically create income or a receivable. Financial reporting should tell the story in the order it actually happens: something was lost, a claim was made, the claim was assessed, and eventually, an amount may be recovered. After a calamity, rebuilding the business may take time. The accounting should not rush ahead of that reality. Floyd C. Paguio, CPA, MBA, is the chairman of Paguio, Dumayas & Associates, CPAs, (PDAC), the Philippine member firm of PrimeGlobal International. He is also the president of KCD College of Accountancy in Alaminos, Laguna, the co-chairman for students and faculty affairs of the Picpa Metron Manila Region FY 2026 – 2027. The views and opinions expressed in this article are solely those of the author and do not necessarily reflect the official positions of these organizations and the BusinessMirror.

Digital fraud costs Filipinos ₧603B; only few file cases

IVING and doing business in the Philippines means learning to live with typhoons, floods, earthquakes and other calamities. We prepare as much as we can but, when disaster strikes, damage to property and business operations can still be difficult to avoid. Once everyone is safe, businesses begin counting the cost. There may be damaged equipment, flooded inventories, repairs to buildings and days or even weeks of interrupted operations. For an insured business, there is at least some comfort in knowing that part of the loss may be recovered. But this brings up an accounting question that is easy to overlook: If the business is insured, can it immediately record the amount it expects to receive from the insurance company? The answer is not always yes.

Editor: Dennis D. Estopace • Thursday, September 24, 2026

By Andrea E. San Juan

ESPITE triumphs in digital payments use, the Philippine economy may be bleeding quietly as digital predators are draining P603 billion from the pockets of around 40 million Filipinos yearly, with only a “microscopic” fraction of these cases actually landing on police blotters.

A white paper by IDfy Technologies Philippines Inc. and CIBI Information Inc. revealed the cost of digital fraud and mule account networks hit nearly 3 percent of annual gross domestic product. And, despite 34 percent or 40 million Filipinos reporting scam losses, only less than 2 percent file formal complaints, allowing illicit accounts to remain active for months. CIBIII President and CEO Maria Gracia Arellano pointed out in the white paper that while the Philippines achieved its “digital decade” goals ahead of schedule, “hyper-acceleration without systemic friction always exacts a hidden tax.” A rel lano emphasized t hat

the country is no longer fighting localized,isolated scammers. Instead it is now up against “industrial-scale Trans-National syndicates operating out of air-conditioned compounds.” “They are weaponizing biological identities. By farming, renting, and synthetically altering legitimate bank and e-wallet credentials for as little as P500, they have turned the everyday accounts of our citizens into highly effective laundering nodes,” she said.

‘Silent erosion’

BASED on the analysis of the two firms, the number of estimated victims in the country last year is 40 million, equivalent to 34 percent of

the population. The white paper also noted that around 16,000 official cases have been reported with the Philippine National Police. The report emphasized that the “very nature” of cybercrime has evolved as predators have “largely abandoned brute-force technical exploits, pivoting instead toward the highly orchestrated psychological manipulation of the mind.” It noted that the Bangko Sentral ng Pilipinas indicates that social engineering, account takeovers, and identity theft now account for 76 percent of total suspected fraud. “At the absolute epicentre of this crisis lies the proliferation of “mule accounts,” legitimate bank or e-wallet accounts that have been commandeered, rented, or synthetically engineered by third parties to seamlessly receive, layer, and launder illicit funds through the formal financial system,” the white paper noted. The white paper flagged the “silent erosion” in financial losses as “only a microscopic fraction ever materializes on official police blotters.” “The national economy bleeds out quietly without triggering any corresponding spikes in enforcement data,” the study noted. “While internal data reveals that 34 percent of Filipinos suffered financial losses to scams in 2025, the volume of victims who actually escalate these attacks into formal legal

complaints is practically negligible,” the white paper read.

‘Ultimate camouflage’ OFFICIAL reporting rates for cybercrime in the Philippines remain “paralyzed at under 2 percent,” Idfy and CIBII asserted

“Deterred by the seemingly ‘small value per transaction’ or the daunting ‘complexity of the legal process,’ victims silently absorb the damage,” the report noted. As such, the firms wrote in their joint white paper that this systemic friction acts as the “ultimate camouflage”—allowing weaponized mule accounts to remain entirely “clean and endlessly reusable” for months, or even years. The white paper emphasized that while the Philippine economy “shattered” its national strategic target to digitize 50 percent of retail payments by 2026 three years early, it warned that “biological systems that evolve too rapidly rarely have time to develop adequate immune responses.” “In our rush to build a frictionless economy, we inadvertently cultivated a highly lucrative hunting ground for transnational financial crime. Today, the Philippines has emerged as one of the key targets for sophisticated Southeast Asian fraud syndicates, ushering in a new era of systemic risk and digital fraud,” the report read.

BTr scales back RTB offer amid high borrowing costs By Reine Juvierre Alberto @reine_alberto

HE Bureau of the Treasury is scaling back its upcoming retail Treasury bond (RTB) sale by more than half from last year as higher local borrowing costs prompt the government to consider tapping the retail dollar bond (RDB) market anew. National Treasurer Sharon P. Almanza told reporters Tuesday evening that the Treasury plans to borrow a significantly lower amount through RTBs as it has other financing options for the rest of the year. “We are not going to raise the usual volume that we’ve been raising in the past,” Almanza said after attending the budget hearing for the Department of Finance, Last year, the Treasury raised

P507.16 billion from its 31st tranche of RTBs. The RTB issuance will mark the 25th year of the government’s retail bond program. The latter enables ordinary Filipinos to invest in government securities and helped fund the state’s programs and projects. Almanza said the government seeks to manage its borrowing costs amid a steep yield curve and risks of higher inflation, which could keep interest rates elevated. “We still have many options for the rest of the year. We don’t need a bigger volume,” the BTr chief added. This could be another RDB issuance, Almanza said, as P69.282 billion in RDBs, with a coupon rate of 1.375 percent, are set to mature this October 8. Acknowledging that the diaspora bonds entail foreign exchange risks,

Almanza said domestic rates are currently high enough to make dollar funding cheaper. “That’s true, but right now, because of the very high rate domestically, it’s cheaper,” she told reporters. Almanza told BusinessMirror that the Treasury aims to issue RDBs in the next quarter if the market permits. There is also no definite target size yet. “It can make more sense to pay a lower dollar coupon than issue large amounts of peso debt at elevated local rates,” said Ruben Carlo O. Asuncion, chief economist at Union Bank of the Philippines. However, relying on foreign borrowings could go against the government’s long-standing objective of keeping a predominantly pesodenominated debt portfolio, Asuncion added.

BIR issues electronic invoicing rule

HE Bureau of Internal Revenue (BIR) is requiring small, medium and large taxpayers engaged in online business or Internet transactions to transition to electronic invoicing systems by the end of the year. Electronic invoicing will become mandatory by December 31, 2026, according to Revenue Memorandum Circular 098-2026. The latter also prescribes the policies and guidelines for the system. The requirement applies to small, medium and large taxpayers operating in e-commerce or internet channels; taxpayers under the “large taxpayers service;” companies classified as large taxpayers under the Ease of Paying Taxes Act; and, users of computerized accounting systems and computerized books of accounts. All covered taxpayers, except micro taxpayers, must issue electronic invoices using an in-house or commercially-acquired electronic invoicing solution or the services of an electronic invoicing service provider. Accounting and tax software provider Intuit Ltd., for example, offers invoicing solutions for P131 a month for a basic plan and P551 a month for an advanced plan. (See https://tinyurl.com/ kfy9d46h) “Electronic invoicing and

electronic sales reporting are separate requirements. For now, taxpayers should focus on complying with the electronic invoicing rules. Electronic sales reporting will follow once the BIR issues the separate implementing policies and procedures for it,” Mendoza said. For an electronic invoice to be considered valid, it must be generated in a structured digital format, electronically delivered to the buyer through email, QR codes, mobile applications or web platforms and capable of automated data extraction, according to the BIR. Manually-generated invoices using standard office productivity applications, such as Microsoft Word, Microsoft Excel, Google Docs and Google Sheets, will not be recognized as valid electronic invoices for tax compliance purposes. In cases of technical malfunctions, power outages or Internet disruptions, taxpayers are required to issue BIR-authorized manual invoices. Once system connectivity is restored, all manually issued invoices must be immediately replaced with corresponding electronic invoices bearing the reference numbers of the manual documents. The BIR also imposed strict anti-tampering controls, pro-

hibiting the deletion, alteration or modification of issued electronic invoices. Any reduction in transaction amount must be documented through a duly authorized “credit note/memo,” while any increase requires issuing a new electronic invoice referencing the original transaction. Covered businesses must file an application for a Permit to Issue Electronic Invoice with their respective Revenue District Office or Large Taxpayer Office, which the BIR will evaluate within 20 working days. Following the permit’s approval, taxpayers will have six months to complete online testing and obtain an “Electronic Invoicing and Sales Reporting Certification.” Failure to secure the certification within the sixmonth period will constitute grounds for revocation of the taxpayer’s permit. “Electronic invoicing is a huge step toward revolutionizing invoicing and tax administration in the Philippines. It will change how businesses document transactions, how tax information is generated, and how the BIR uses data to build a more modern and efficient tax system,” Internal Revenue Commissioner Charlito Martin R. Mendoza said.

Reine Juvierre S. Alberto

A weaker peso would also raise the local-currency cost of servicing dollar-denominated debt, he added. “Any return to the retail dollar bond market would likely be aimed at funding diversification and refinancing maturing obligations rather than signaling a broader shift away from the government’s strategy of limiting foreign currency exposure,” Asuncion said. The government last issued RDBs in 2023, raising $1.26 billion, exceeding the $1-billion borrowing target. The RDBs had a coupon rate of 5.75 percent and a maturity period of 5.5 years. This year, the government’s borrowing plan stands at a total of P2.733 trillion, of which P1.919 trillion will come from the domestic market while P815.51 billion will be sourced externally.

Digital-bank mimics given requirements

HE central bank has issued capital and other requirements to ensure that thrift, rural, and cooperative banks shifting to digital bank business operate in a “safe and sound” manner. Under Circular 1240 dated September 21, 2026, the Bangko Sentral ng Pilipinas (BSP) said existing thrift, rural and cooperative banks determined by the BSP to be operating under a business model similar to that of a digital bank must meet the P1-billion minimum capital requirement applicable to digital banks, among other requirements. “They have six months to comply with these prudential requirements from receipt of the BSP’s notice,” the central bank said in a statement it issued last Wednesday. Similarly, when a proposed acquisition is intended to transform a thrift, rural, or cooperative bank into a technology-driven business model, the BSP shall require P1-billion minimum capital requirement at the time of application. The BSP said the bank must also comply with prudential standards applicable to digital banks. Additional requirements, including enhanced supervisory reporting, restrictions on certain activities or new digital products and services and strengthened risk management and control systems may also be imposed, the central bank added. The BSP explained the requirements will cover thrift, rural and coop banks that fall under two conditions. First, they operate under a business model similar to that of a digital bank or their risk management systems and capital are no longer commensurate with their official business model and risk profile. Second, they use digital platforms to deliver services and record significant growth in loan or deposit balances. “The requirements aim to ensure that these banks can adequately manage risks arising from the nature, scale, complexity, and risk profile of their operations,” the central bank noted. Andrea E. San Juan

Envoys&Expats BusinessMirror

Thursday, September 24, 2026

STRONGER PHL-JAPAN TIES

Executive Secretary Ralph G. Recto welcomed Japan’s Senate Vice President Tetsuro Fukuyama. During his visit to Manila, Fukuyama advanced parliamentary exchanges and reaffirmed the Comprehensive Strategic Partnership between the Philippines and Japan. Building on the momentum of President Ferdinand R. Marcos Jr.’s State Visit to Japan last May, both sides reaffirmed their commitment to deepen cooperation in defense and maritime security, energy, infrastructure and development, trade and investment, and people-to-people ties.

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VIVA, MEXICO!

¡ Ambassador Daniel Hernandez Joseph (center), Foreign Affairs Undersecretary Maria Theresa Dizon-de Vega (left), and Archbishop Charles John Brown DD raise their glasses together with members of the local Mexican community and guests at the Republic of Mexico’s 216th Independence Day celebration on September 15. According to Joseph, leaders must work together toward a rules-based international order, peaceful conflict resolution, and stronger international cooperation. For her part, Dizon-de Vega said the Philippines and Mexico should build on their shared history to deepen political dialogue and economic cooperation.

PROMOTING SWEDISH LITERATURE

First Secretary Roya Ndure of the Embassy of Sweden in Manila assists a visitor browsing Swedish books at the “Read Sweden” booth during the Manila International Book Fair at the SMX Convention Center in Pasay City.

PHL convenes senior officials, Plus Three Partners ahead of 49th Asean Summit and related summits

HE Philippines, as Asean Chair, continued to advance regional cooperation through the back-to-back Asean Senior Officials’ Meeting (SOM) and Asean Plus Three Preparatory Senior Officials’ Meeting (APT Prep-SOM). The meetings build on the momentum of the 59th Asean Foreign Ministers’ Meeting and Related Meetings, as well as the commemorative activity for the 50th anniversary of the Treaty of Amity and Cooperation in Southeast Asia (TAC) in July. Chaired by Undersecretary for

Policy and Philippine SOM Leader Leo M. Herrera-Lim, the meetings brought together the region’s member states, as well as Japan, China, and the Republic of Korea (South Korea). They discussed key regional developments, bolstered cooperation, and prepared for the upcoming 49th

Bolstering regional cooperation

ASEAN SOM leaders, representatives and the ASEAN Deputy Secretary-General for Political Security Community pose at the start of the Preparatory SOM Meeting.

Asean Summit and Related Summits in November 2026. During the SOM, Asean Senior Officials discussed pressing regional developments and key initiatives to advance regional community-building, including the implementation of the Asean Community Vision 2025, which entered its first year of implementation this year. The meeting also addressed applications to accede to the Treaty of Amity and Cooperation

in Southeast Asia and the implementation of the Five Point Consensus, or 5PC, on Myanmar. Herrera-Lim underscored the importance of complementing capacities and harnessing the region’s collective potential to respond to common challenges and strengthen resilience. He said, “Several issues have called for us to innovate, be more agile, yet all the more grounded in our shared values and principles.”

DFA joins Comelec briefing for int’l election observers

HE Department of Foreign Affairs (DFA), through the Overseas Voting Secretariat (OVS) as its coordinating arm, participated in a briefing for diplomatic missions and international election observers by the Commission on Elections (Comelec). Representatives from the Philippine National Police (PNP), Armed Forces of the Philippines (AFP), and the Office of the Presidential Adviser on Peace, Reconciliation and Unity (OPAPRU) joined the briefing. “DFA-OVS fully supports the Comelec under the leadership of [Chair] George Erwin M. Garcia in its efforts to ensure a peaceful, transparent, inclusive, and credible electoral process,” Vice Chairperson Raul H. Dado of the DFA-OVS said in a statement. “As the country prepares for this significant milestone in the Bangsamoro peace process, we remain committed to strengthening

BRIEFING for diplomatic missions and international election observers at the Commission on Elections COMELEC/DFA

inter-agency coordination and facilitating the meaningful participation of international observers, consistent with Philippine laws, election regulations, and security protocols.” Dado added, “We believe that the presence and engagement of international observers contribute

to greater transparency and public confidence in the electoral process, and we will continue to work closely with Comelec and our government partners toward a successful and credible election.” The briefing covered the Bangsamoro peace process, electoral prepara-

tions, security arrangements, and protocols for international observers. These include the final testing and sealing of voting machines, transmission and canvassing of election results, and coordination with security authorities. Comelec and participating government agencies underscored the importance of ensuring a peaceful, transparent, inclusive, and credible electoral process. The DFA-OVS reaffirmed its commitment to close coordination with Comelec and concerned government agencies to facilitate the participation of international observers and support their coordination and access, while ensuring compliance with Philippine election and security protocols. The recent elections represent a significant milestone in the Bangsamoro peace process and its transition to an elected parliamentary government.

British Chamber welcomes BARMM digitalization efforts

HE British Chamber of Commerce Philippines (BCCP) lauded the Bangsamoro Autonomous Region in Muslim Mindanao’s progress in digitalization, citing its continued efforts to strengthen digital governance following the first parliamentary elections there. For the chamber, a successful and secure election can help bring opportunities in strengthening investor confidence and creating conditions for more economic activity and investment within the region. In an interview, Executive Vice

Chairman Chris Nelson expressed the BCCP’s support for the electoral exercise and emphasized the need for stability to attract investment to the region. According to Nelson, “This will drive investments because I think livelihood and economic growth [are keys] to the whole going forward, not just for Bangsamoro, but also for the whole Philippines.” The chamber’s emphasis on digitalization stems from the ongoing expansion of digital governance initiatives within the region by BARMM government agencies

and international development partners. Key programs such as the Localizing e-Governance for Accelerated Provision of Services, or “LeAPS,” support the region’s digital transformation by using information and communications technology (ICT) to improve public services and automate paper-based processes. Through a partnership between BARMM’s Ministry of the Interior and Local Government and the United Nations Development Program, the initiative has created the Bangsamoro Digital Center in

Cotabato City, centralizing online government services and improving public access. The region also holds ICT training programs for micro, small, and medium enterprises, supporting the Philippine national government’s directive to advance digitalization. The BARMM economy expanded by 5 percent in 2025—up from 3.5 percent in 2024. The region’s economy sits at P266.59 billion, with health and social services (13.9 percent), education (12 percent), and public administration (9.6 percent) leading the region’s industries.

FOLLOWING the SOM, the undersecretar y chaired the APT Prep-SOM with Japanese Deputy Director-General Hokugo Kyoko. The meeting reviewed recent developments within the APT Cooperation and discussed preparations for the upcoming 29th Asean Plus Three Summit this coming November. In his opening statement, Herrera-Lim underscored the value of APT Cooperation as a key action-or iented platfor m for strengthening the region’s shared resilience and advancing col lective prosper it y. He mentioned that, “Across our… Chairship, the Philippines has consistent ly ca l led on A sean to be strategic, pragmatic, and

resolute, especially in the face of external shocks.” Created in 1997, the APT aims to bolster regional cooperation in East Asia in areas such as food and energy security, supply chains, and peoplecentered linkages.

Preparing for summits

THE back-to-back meetings formed part of the Philippines’ ongoing preparations as chair for the 49th Asean Summit and Related Summits in November 2026. Discussions among the Asean and APT Senior Officials advanced preparations for key documents and outcomes to be considered by Asean Foreign Ministers and Leaders in November, building on the progress and momentum of the Philippines’ Asean Chairship.

New Zealand set to bring a ‘best experience’ in Manila

XPERIENCE NEW ZEALAND returns to the heart of Manila this September, bringing the sights, sounds, and tastes of the Oceanic country in a premier two-day celebration, which is open and free for the public. Hosted by the New Zealand Embassy, alongside Education New Zealand (ENZ) and New Zealand Trade and Enterprise (NZTE), the immersive showcase takes over The Concourse at One Ayala, Makati City on September 26 and 27, 2026. Marking a milestone in diplomatic relations, the event celebrates six decades of partnership by showcasing New Zealand as a world-class destination for education, sustainable trade, and premium food and beverage. A breathtaking musical collaboration between acclaimed New Zealand artist Bic Runga, known for the global hit song Sway, and the Philippine Philharmonic Orchestra will headline the opening ceremony on the 26th, alongside powerful cultural performances by the Māori performing arts group Ngā Hau E Whā from Tokyo. Hosted by Kiwi-Filipino entertainer and host Eric “Eruption” Tai, the program will also feature official remarks from Ambassador Dr. Catherine McIntosh. Across both days, guests can expect the following: World-class education: Representatives from Education New Zealand and 12 tertiary institutions will be on-site, offering free consultations for students and parents. Attendees can explore innovative study pathways and learn why more Filipinos are choosing New Zealand for their international education.

Premium food and beverage: Attendees can sample and purchase a diverse range of Kiwi favorites from trusted NZTE partners. The showcase will feature premium dairy products, world-renowned wines, grass-fed meats, and authentic Manuka honey—all celebrated globally for being safe, sustainably-produced, and of the highest quality. Family-friendly activities and games: The public can visit the facepainting booth, try their hand at passing a rugby ball to win prizes, and take a photo with a larger-than-life kiwi bird. Tourism and cultural exchange: Alongside the live entertainment, the event features inspiring travel showcases, offering attendees inspiration for planning their next big adventure to New Zealand’s breathtaking landscapes. The event is open to the public from 10 a.m. on Saturday, September 26, and runs through to 10 p.m. on Sunday, September 27. For updates, performance schedules, and more information, follow the New Zealand Embassy in Manila on its official Facebook and Instagram pages.

A BusinessMirror Special Feature

Mexican Day

www.businessmirror.com.ph

Thursday, September 24, 2026 B5

216th Anniversary of Mexico’s Independence: A cry for independence, highlighting enduring ties with PHL

With the growing interest of Philippine companies in the Mexican market, it is hoped that this can build new avenues for two-way investment and business partnerships.

By Vincent Peter Rivera

HE Embassy of Mexico in the Philippines commemorated Mexico's 216th Anniversary of independence on September 15, honoring the nation’s freedom from over a decade of colonial rule while celebrating its centuries-old friendship with the Philippines.

From left to right: Maria Theresa Dizon-de Vega, Department of Foreign Affairs (DFA) Undersecretary; His Excellency Daniel Hernández Joseph, Ambassador of Mexico to the Republic of the Philippines; and Archbishop Charles John Brown, Apostolic Nuncio, share a toast during Mexico’s 216th Anniversary of Independence at Grand Hyatt Manila on September 15, 2026. PHOTOS COURTESY OF THE MEXICAN EMBASSY IN MANILA. His Excellency Daniel Hernández Joseph leads the traditional Grito.

His Excellency Daniel Hernández Joseph, Ambassador of Mexico to the Republic of the Philippines, led the event's main highlight: the traditional Grito, a reenactment of Miguel Hidalgo's historic first call for independence in 1810. Traditionally led by the President of Mexico from the balcony of the National Palace in Mexico City’s Zócalo, which is replicated on the same day by local governments, municipalities, Mexican embassies, and consular legations worldwide to preserve the heritage. This year’s commemoration was attended by members of the local Mexican community, Philippine government representatives, members of the diplomatic corps, and distinguished guests, gathered to celebrate Mexico’s sovereignty and the deeprooted ties between the two nations.

A long-standing bilateral relationship

The strong friendship between Mexico and the Philippines dates back to the ManilaAcapulco Galleon Trade in 1565, when galleons carried goods and people across the Pacific in both directions. This bond strengthened during World War II, when the Mexican 201st Fighter Squadron (“Aztec Eagles”) fought alongside Allied forces to liberate Luzon. In her speech, Department of Foreign Affairs (DFA) Undersecretary Maria Theresa Dizon-de Vega noted that beyond economic trade, the two countries exchanged something far more enduring: traditions, beliefs, ideas, and ways of life that left an indelible mark on both societies. “Our countries share something deeper than the history recorded in our diplomatic archives,” she said. “We share a sense of family, a deep faith, vibrant fiestas, a love of music and food, and, perhaps most importantly, a warmth in welcoming others into our homes and communities.” A testament to this cultural connection is the landmark exhibition Somos Pacífico: El mundo que emergió del trópico, hosted at the Colegio de San Ildefonso

in Mexico City, which featured priceless historical artifacts from Philippine institutions.

Growing economic and strategic ties

Beyond cultural similarities, mutual economic cooperation is the key foundation of modern bilateral relations. According to Undersecretary Dizon-de Vega, both countries share a commitment to multilateral cooperation, dialogue, and the peaceful resolution of differences. “We see opportunities to strengthen our political and strategic cooperation, particularly in maritime affairs, including maritime safety and security—an area of shared interest for both our countries,” she explained. This year, bilateral trade advanced significantly following the Philippine approval, in May 2026, of Mexican meat establishments to export beef and pork to the country. This was followed on July 5, 2026, with the signing of a bilateral Air Services Agreement, paving the way for fresh opportunities in trade and commercial exchange. Undersecretary Dizonde Vega also noted that the Philippines looks forward to economic goals including trade expansion and the exploration of initiatives in agriculture and food security, science and technology, digital innovation, education, and disaster risk reduction, while building more resilient and diversified supply chains. With the growing interest among Philippine companies in the Mexican market, particularly in logistics, electronics manufacturing, beverage, and hospitality, Undersecretary Dizon-de Vega hopes this can build new avenues for two-way investment and business partnerships. Lastly, both nations are thriving in tourism, cultural cooperation, and migration governance, with the Philippine Embassy in Mexico notably intensifying its participation in cultural fora, book fairs, and university dialogues.

ASEAN and global south partnership

Highlighting regional cooperation, Undersecretary

Dizon-de Vega pointed to the broader geopolitical landscape. “The Philippines’ ASEAN Chairship in 2026 provides an especially timely platform for strengthening Mexico's engagement with Southeast Asia,” she said. “As ASEAN Chair, we look forward to Mexico’s accession to the Treaty of Amity and Cooperation in Southeast Asia, which we see as an important step toward deepening Mexico's engagement with ASEAN and advancing stronger ties between Southeast Asia and Latin America as partners in the Global South,” Undersecretary Dizon-de Vega added. As Mexico commemorates its independence, the Philippines remains supportive and true to its enduring relationship—all founded in shared historical roots and a welcoming manner in forging stronger economic partnerships for the years to come.

Thursday, September 24, 2026

TORIKIZOKU, Japan’s top Yakitori Radenta Academy, Fortinet join forces chain, is coming to the Philippines to offer cybersecurity related courses A

adenta Academy, a pioneering technological education venture of Radenta Technologies, now offers the full range of courses from Fortinet, a global cybersecurity company known to carry highly specialized and niche specific security protocols. Fortinet is best known for its flagship FortiGate Next-Generation Firewalls (NGFW), Secure SD-WAN, and integrated Security Fabric. The courses cover network protection, threat intelligence, SOC operations, and cloud security. The partnership will have Radenta Academy offer Fortinet’s official learning pathways, including Fortinet Certified Fundamentals (FCF), Fortinet Certified Associate (FCA), and Fortinet Certified Professional (FCP) focusing on Network Security and FortiGate Administration. The courses are open to both individual learners (IT graduates, career shifters, sysadmins) and corporate clients (enterprise IT/SOC teams). Cohorts run regularly throughout the year. Fundamental tracks require 15 to 20 hours, while Professional tracks take three to five full bootcamp days or three to six weeks or about one and a half months part-time. There are two delivery formats. Hybrid is self-paced labs paired with live virtual instructor sessions while dedicated onpremises bootcamps are offered for corporate teams. Graduates earn official Fortinet Industry Certifications that include

Fortinet Philippines Country Manager Veronica “Bambi” Escalante, Radenta Technologies, Inc. President Randall Lozano, and MEC Networks Corporation Senior Vice President for Sales Sheryl Go. FCF, FCA, FCP which are fully recognized worldwide in the US, Europe, Middle East, and Asia Pacific. This drastically enhances employability, opening doors to high-paying roles as Firewall Engineers, SOC Analysts, and Security Consultants globally. Fortinet has its own learning facilities. FortiAcademy specifically targets academic institutions and early-talent career readiness. The Fortinet Training Institute is the master corporate umbrella for all professional certifications and self-study paths. Both are the same but with different target markets. In the Philippines, Radenta Academy serves as the local delivery partner, providing certified local instructors, handson mentorship, and regional operational support. “We joined forces to directly combat the severe cyber skills gap in the country by combining Fortinet’s industry-leading technology with Radenta’s local educational reach,” according to Dianne Angeline Mabuna,

Administrator for Radenta Academy. Fortinet is a top global choice for enterprise defense, distinguished by its custom ASIC hardware acceleration, delivering industry-leading speed and unified Security Fabric architecture. Radenta, on the other hand, stands out by integrating Fortinet’s global curriculum with local frameworks, such as TESDA EnterpriseBased Education and Training (EBET) alignment, making world-class certification accessible to the local workforce. “A massive digital transformation is happening across Philippine banking, healthcare, government, and telecommunications that has outpaced cybersecurity hiring,” adds Mabuna. This creates a huge local demand for certified Fortinet engineers. Be in step with the latest in cybersecurity. Get in touch with Radenta Academy at 0998577-2613 and 02-8535-7801 or log on to www.radenta.com.

playful yellow character has started appearing around Serendra, BGC, pointing pedestrians toward a new Japanese dining destination coming soon. His name is Torikki, the official mascot of TORIKIZOKU, Japan’s popular Yakitori chain and a Yakitori-ya specializing in freshly grilled chicken skewers. Designed to be visible during the day and illuminated at night, the Torikki installations feature different poses inspired by the Philippines and Japan. Each carries an invitation to gather: “Good Times, This Way.” “From Group Chat to Group Table.” “Traffic Can Wait.” Each installation also features a QR code that guests can scan to visit the TORIKIZOKU Philippines website, receive updates, and make a reservation. The signages mark the beginning of the countdown to TORIKIZOKU’s first Philippine restaurant, opening on October 12, 2026, at Serendra, BGC. Founded in Osaka in 1985, TORIKIZOKU has grown to more than 600 stores across Japan and continues to expand its Global YAKITORI Family internationally. The brand is known for freshly grilled Yakitori, carefully selected ingredients, welcoming service, and a lively atmosphere where people can gather comfortably over food and conversation. In the Philippines, that spirit of gathering comes to life through “Toriki Tayo”, a local invitation to turn everyday moments into opportunities to come together. See Torikki around Serendra, scan the QR code, and follow where he leads. From group chat to group table, TORIKI TAYO. TORIKIZOKU Philippines opens on October 12, 2026,

One of the Torikki signages spotted around BGC at Serendra, BGC, Taguig City. Be among the first to experience TORIKIZOKU’s authentic Yakitori-ya experience at Serendra. Make your reservation in advance now: https://surl. li/ojxwyb

HWPL, NCMF to convene 4th National Peace Convention, rallying 1,000 peace advocates

NTERNATIONAL peace organization Heavenly Culture, World Peace, Restoration of Light (HWPL), which played a civilian-led role in advancing peace in Mindanao by helping mediate a historic local peace agreement in 2014, is set to convene the 4th National Peace Convention at the University of the East Theater in Manila on October 3, 2026. In partnership with the National Commission on Muslim Filipinos (NCMF), this year’s theme, “Be a Living Legacy of Peace,” aims to gather 1,000 peace advocates, cultural and religious leaders, educators, youth, media professionals, and civil society

organizations to share experiences, highlight collective efforts, and explore how different sectors can work together to build a culture of peace, particularly among the younger generation. The convention comes at a particularly important time as recent incidents of school violence further highlight the need to strengthen efforts in peace education, prevention, dialogue, and community involvement. As an organization committed to peace education and peacebuilding, HWPL believes that addressing these challenges requires more than the efforts of one sector.

The National Peace Convention is an annual event that brings together a multi-sectoral assembly of lawmakers and policymakers, educators, religious and cultural leaders, media, youth, women’s groups, and civil society leaders. Since its inception in 2023, the convention has provided a platform for diverse sectors to come together in support of peace. This year’s theme calls on individuals to move beyond simply remembering the efforts of those who have worked for peace and instead become active participants in carrying that legacy forward through their daily choices, relationships, communities, and service to others. In line with this call for active participation, the event will also feature the Peace Center, an initiative that provides a space for people of different faiths and backgrounds to learn, engage in deeper discussions, and better understand religious teachings and perspectives. Participants may choose from free online discussion sessions on Catholicism, Islam, non-denominational Christianity, and Hinduism (Hare Krishna), each facilitated by religious leaders representing the respective religions. HWPL is an international peace organization advocating for global peace and cessation of war through international law, interfaith harmony, and peace education. Registration is open, and interested participants may sign up for free through this link: events. hwpl.ph/4/4th-npc.

PLDT Enterprise ‘SME Day’ equips Iloilo businesses for digital future

VER a hundred delegates from small and medium enterprises (SMEs) in Iloilo City gathered for SME Day Iloilo, organized by PLDT’s B2B arm PLDT Enterprise to boost business resilience for SMEs through knowledge-sharing and technology. Through expert-led sessions from PLDT Enterprise, ePLDT, VITRO, Inc., and Cisco Meraki, the delegates explored technologies shaping the future of business, from 5G and resilient connectivity to data centers and cybersecurity solutions that help protect businesses and ensure continuity. The discussions also tackled applications designed to enhance business operations and reach more customers amid fastevolving business landscape. “Our local businesses are an important part of Iloilo City’s progress,” said Atty. Fydah Marie Sabandoh Del Rosario, Head of the Data Assessment and System Management Office of the Iloilo City Government, highlighting the vital role of SMEs in creating jobs, supporting families, and contributing to local economy. “As Iloilo continues to grow as a center for business and innovation, we want our entrepreneurs to be ready to take advantage of new opportunities, leveraging technology as an essential part of doing business,” Del Rosario added. Recognizing the growing contribution of SMEs to the economy, PLDT Enterprise Vice President and Head of Growth Marketing, Digital, and Trade John Eric S. Alviz underscored the importance of supporting businesses with the right tools and solutions. “At PLDT Group, our priority is to see to it that we are able to help each and every SME grow, and that we can provide for whatever they need,

OGAWA brings health and wellness closer to North Luzon with new SM City La Union store

GAWA, the global leader in health innovation, is bringing a new wave of wellness to North Luzon, with the launch of its new store at SM City La Union. Located on the mall’s second floor, OGAWA’s first branch in North Luzon brings wellness tools such as massage chairs, mobile foot massagers, massage guns, and more, closer to La Ueños, Ilocanos, Pangasinenses, and other North Luzon citizens. The new store marks OGAWA’s latest effort to make health and wellness solutions accessible to all. “Our mission is to make wellness within reach for everyone. Our first store in SM City La Union signifies not just a new chapter for us but a new beginning for customers in North Luzon. La Ueños, Ilocanos, and Pangasinenses deserve this unique wellness and relaxation experience, and we are excited to help them discover which massage chair or mobile product fits their needs and lifestyles,” said Allyson Cruz, Digital Marketing Executive of OGAWA Philippines. OGAWA’s new store at SM City La Union reaffirms its commitment to providing holistic wellness tools through its product portfolio. Engineered with Japanese

precision, OGAWA’s health devices harness premium technology to drive wellbeing. Its strategic location helps customers from Northern Luzon better integrate wellness into their everyday routines. OGAWA’s SM City La Union store offers a warm and welcoming space where customers can discover solutions designed for comfort and relaxation. Each corner is crafted with intent, embodying OGAWA’s passion for bringing meaningful wellness experiences to customers. The store’s quiet, clean ambiance invites visitors to discover products that support rejuvenation in a personal way. “Our first store in North Luzon is thoughtfully designed to help a customer choose the chair or tool they need to help them live full and healthy lives. This approachable space is complemented by our friendly staff who are there to answer all their queries and guide them in their wellness journey,” said Allyson Cruz, Digital Marketing Executive of OGAWA Philippines. Among the products mallgoers can experience is the OGAWA Maestro, a massage chair that combines Smart AI customization, convenience, and comfort

to deliver an immersive massage experience. Maestro is powered by OverSeer, OGAWA’s AI system that assesses the user’s physiological condition before and during the session. Using precision sensors, the Overseer technology analyzes the user’s body shape, stress level, and pressure points. It designs a personalized massage program based on these insights to support a better and more effective full-body treatment. Beyond unparalleled relaxation, Maestro can support recovery, muscle rejuvenation, and everyday wellness. Its adaptive approach targets tension and fatigue while promoting renewed energy. The Maestro can help users relax after a long day at work or a strenuous workout. They can also integrate it into their bedtime routine to help their body unwind. Experience premium comfort and relaxation by visiting OGAWA’s store at SM City La Union. Step into a comforting space and discover wellness solutions thoughtfully designed to help you feel your best. Visit us to experience OGAWA in person. Your next moment of relaxation awaits.

whether it’s connectivity, technology, platforms, or solutions,” he said. “This aligns with our chairman MVP’s belief that there may be small businesses, but there are no small businessmen -- the contribution of SMEs in helping build the nation is no small feat.” Atty. Fritzie Gayle Diez-Treñas of JD Bakery Café also shared how digital transformation has helped streamline their operations and make their business future-ready. “I encourage every entrepreneur to see digital transformation not as a disruption, but as an opportunity—an opportunity to become more efficient, make better decisions, and build businesses that are stronger, more resilient, and ready for the future. Because in today’s world, technology is no longer just supporting business; it is very much about helping shape the future,” said Diez-Treñas, who serves as JD Bakery Cafe’s director for finance, administration and corporate affairs. She added that the company’s ability to adapt has been key to its growth. “While our products have evolved and our footprint has expanded, one thing has remained constant—our willingness to adapt. That willingness has allowed us to embrace new technologies while staying true to our purpose of serving good food every day for everyday people.” SME Day has been connecting businesses across the country with the knowledge and digital solutions they need to grow. Through the initiative, PLDT Enterprise continues to help SMEs innovate, adapt to evolving business needs, and unlock new opportunities through technology.

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PUREGOLD MARKS NEW LEGACY WITH 4,000 RUNNERS IN HAKOT RELAY RUN, DRAWS 500 PARTICIPANTS IN FIRST 8K RUN

Parentlife BusinessMirror

Editor: Gerard S. Ramos • Thursday, September 24, 2026

HEALTHY PARENTS, HEALTHIER FAMILIES:

By Patrick Villanueva COMBINING health and groceries, supermarket chain Puregold brought its Hakot Relay Run to South Luzon in Cavite, marking a new legacy for its initiative by drawing over 4,000 participants, with 500 joining its first 8K run. Commencing at the transformed Vermosa Sports Hub in Imus, Cavite, the Hakot Relay Run was an adrenaline-filled event that also rewarded its participants with groceries they could take home. Puregold wanted to refresh its legacy via the Hakot Relay Run by introducing new events that would excite its loyal customers. The event featured two events: the Hakot Relay, which was a team event, and the first 8K run, which was an individual event. “We wanted to offer runners a fresh and enjoyable way to challenge themselves, with the ‘hakot’ mechanic adding a playful and uniquely Puregold twist to the race. Being part of the running community is meaningful to us, and it is a privilege for Puregold to bring people together for a shared panalo experience,” said Ivy Hayagan-Piedad, Puregold senior marketing manager. Finishing the race rewarded the runners with race-day rewards, while also visiting sampling booths of participating brands. They also joined sponsor-led activities that further made the event worthwhile despite the rain. Apart from the groceries as well as appliances, the runners brought home a Grocery Sling Bag and a Finisher’s Grocery Bag, while the 8K runners also had a chance to bring home their loot with a grocery cart wagon. The brand said they are willing to further its initiative in the running community by adding new challenges and experiences for its runners, such as this first 8K run. “We’re always looking for ways to level-up the Hakot Relay and give Filipinos something new to look forward to,” Piedad said. “This year, this meant introducing our first-ever 8K challenge and bringing the experience to an even bigger scale.” The Hakot Relay Run is an initiative by Puregold that first commenced last year in Burnham Green Park, Luneta. For updates, visit the Puregold Channel on YouTube, or the brand’s official pages on Facebook, Instagram, X, and TikTok.

Why our heart, kidneys and metabolism are connected

S parents, we are used to seeing the family as one connected unit. When one child is sick, everyone’s routine changes. When a parent is exhausted, the mood of the household can shift. Interestingly, our bodies work with a similar interconnectedness. Our heart, kidneys and metabolic health do not operate separately. Hypertension, diabetes, chronic kidney disease and cardiovascular disease can overlap and influence one another. These are often discussed as cardio-renal-metabolic (CRM) conditions. The American Heart Association likewise describes these systems as interconnected. For parents, this matters because chronic conditions can progress quietly. We may feel well enough to work, prepare meals and drive children to school, yet high blood pressure, high blood sugar or early kidney disease may be developing without obvious symptoms. The roundtable report notes that about one in five Filipinos aged 15 and older lives with at least one chronic condition, including hypertension, chronic kidney disease, diabetes or cardiovascular disease. It also cites an estimated P593.7 billion economic burden from chronic kidney disease alone in 2023. Behind these numbers are families adjusting budgets, work and caregiving around illness. This made me think about a lesson I return to often

in Mommy No LimitS: taking care of the “i-Parent” is an integral part of family care. On July 30, Access Health International convened the Cardio-Renal-Metabolic Policy Roundtable with the German-Philippine Chamber of Commerce and Industry and the European Chamber of Commerce of the Philippines, with support from Boehringer Ingelheim Philippines. Participants discussed prevention, early detection, access and coordinated long-term care. Atty. Eli Dino D. Santos, executive vice president and chief operating officer of PhilHealth, said: “Because these conditions do not exist in isolation, protecting our citizens requires investing in early primary care. PhilHealth stands firm in its commitment to expanding financial risk protection, strengthening primary care financing, and ensuring the long-term sustainability of chronic disease management.” The phrase “do not exist in isolation” is meaningful for families. We sometimes treat health one number at a time: blood pressure today, blood sugar another day, kidney tests only when something feels wrong. Yet our body is one system. The American Heart Association’s 2026 guideline reinforces this connected approach, emphasizing earlier risk detection and coordinated management. What can families do with this information? We can begin with small, realistic habits. First, know your numbers. Ask your healthcare professional how often you should check blood pressure, blood sugar, cholesterol, weight or waist measurement and kidney function based on your age, history and individual risks. Screening matters precisely because some problems can be silent. Second, make health a family activity. Walk after dinner. Make water the everyday drink. Put more vegetables and minimally processed foods on the table. Protect sleep. Children who see healthy routines at home learn that health is a lifelong habit. Third, know your family history. Diabetes,

LEADERS and representatives from government, healthcare organizations, patient organizations, academia, and the private sector gather during the Cardio-RenalMetabolic Policy Roundtable on July 30, 2026, to identify policy opportunities and strengthen integrated CRM care in the Philippines. Access Health International convened the forum with the GermanPhilippine Chamber of Commerce and Industry and the European Chamber of Commerce of the Philippines, with support from Boehringer Ingelheim Philippines.

hypertension, kidney problems and cardiovascular disease in parents or grandparents are worth discussing with your doctor. Knowing our risks can encourage earlier screening. Fourth, keep a simple family health record of medicines, diagnoses, allergies and recent laboratory results. Good information helps healthcare teams see the bigger picture. Dr. Anthony Russell Villanueva, consultant nephrologist at the National Kidney Transplant Institute, reminded participants that CKD reaches beyond medical bills, affecting work, productivity, families and the healthcare system. Prevention and earlier detection are family issues too. This familyhealth advice is also consistent with the American Heart Association’s patient guidance, because high blood pressure, early kidney disease and diabetes can be asymptomatic. Families cannot do this alone. The roundtable emphasized collaboration among healthcare providers, government, patient groups and the private sector, including stronger health information systems, disease registries, sustainable financing and better coordination. As parents, we spend years preparing our children for the future. We save for school, attend games and imagine graduations, careers and perhaps grandchildren someday. Our own health deserves a place in those plans each day. A checkup may not feel as urgent as today’s deadline. A walk may seem easy to postpone. But caring for our heart, kidneys and metabolic health today may help protect the tomorrows we hope to share with our families. Perhaps family health begins with a simple realization: our bodies are connected, and so are our lives. When parents choose prevention, healthier routines and timely care, we are not caring only for ourselves. We are protecting more breakfasts together, more celebrations, more ordinary conversations and more years of showing up for the people we love.

New diet guidelines say to double up on protein; nutrition experts are wary By Jonel Aleccia The Associated Press PROTEIN just got a big boost from US health officials. The latest federal dietary guidelines tell Americans to “prioritize protein foods at every meal” and advise increasing daily intake—up to double the amount of previous recommendations. “We are ending the war on protein,” Health Secretary Robert F. Kennedy Jr. said in a White House post on social media. The guidance—including a new food pyramid—emphasizes red meat, whole milk and other animal sources of protein, while downplaying plant-based offerings. But top nutrition experts question the protein push, saying Americans already consume more protein than they need, and there’s no new evidence that people need to drastically ramp up consumption. For many people, eating much more protein could lead to more fat and more cases of diabetes, they say. “If you’re actively building muscle with strength or resistance training, more protein can help,” said Dr. Dariush Mozaffarian, a Tufts University nutrition expert. “Otherwise, you’re getting enough.” Others worry that the dietary advice will accelerate the trend of companies

encouraging Americans to embrace extra protein in foods including bars, cereals and snacks–even water. Sales of protein-enriched packaged food will increase at a time “when one of the main messages is ‘eat real food, eat whole foods,’” said Christopher Gardner, a nutrition expert at Stanford University. “I think they’re going to confuse the public in a big way.” Here’s what you need to know about the new protein recommendations: n What is protein and how much do

people need? Protein is a macronutrient that is in every cell in the human body. It’s vital for growth and repair of muscle, bone, skin, hair and other organs and tissues. It’s made of building blocks called amino acids, including some that the body doesn’t make and must come from food. For decades, the US dietary guidelines and other sources have recommended that people consume 0.8 grams of protein per kilogram of body weight each day, or about 54 grams daily for a 150-pound person.

The new recommendation advises people to consume 1.2 grams to 1.6 grams of protein per kilogram of body weight— up to double the previous advice. The guidance says adults should consume at least 100 grams of protein per day with half or more coming from animal sources. The average adult man already consumes about 100 grams of protein a day, or twice the old recommendation. n Why did the new dietary guidelines change? The previous protein recommendations were calculated to prevent a nutrition deficiency, according to a scientific review published with the new dietary guidelines. “It represents the lowest intake that maintains equilibrium in most healthy adults but does not reflect the intake required to maintain optimal muscle mass or metabolic function under all conditions,” the review said. The new document relied on evidence from 30 studies that looked at the effects of higher protein diets on weight management and nutrient adequacy. It concluded that protein intakes well above the previous guidance “are safe and compatible with good health.” n What’s the harm of eating more protein? Nutrition experts noted that trials focusing on weight reduction aren’t typically used to make dietary

recommendations for the general population. And, in a new article published in Journal of the American Medical Association, Mozaffarian said there is little evidence, outside of use for strength or resistance training, that “higher protein builds muscle or provides other health benefits.” “In fact, excess dietary protein can be converted to fat by the liver,” Mozaffarian wrote. That can increase the risk of the development of dangerous fat in the abdomen that surrounds vital organs and boost the risk of diabetes, he added. n Protein in processed foods. Other nutrition experts said the recommendation to eat more protein could be useful if it helps achieve another key goal of the new guidelines: encouraging people to eat more whole foods and fewer highly processed foods such as packaged snacks and cookies. “The main problem with the food supply is the processed carbohydrates,” said Dr. David Ludwig, an endocrinologist and researcher at Boston Children’s Hospital. But that will be a tall order for consumers faced with a slew of processed packaged foods—including toaster pastries, cereals and salty snacks— imbued with the halo of added protein. “I think the American public’s gonna go buy more junk food,” Gardner said.

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Thursday, September 24, 2026

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DOE eyes probe of ‘possible’ Visayas electricity market abuse

By Lenie Lectura

@llectura

HE Department of Energy (DOE) has asked the Philippine Competition Commission (PCC) and the Philippine Electricity Market Corp. (PEMC) to investigate possible market abuse among power generation companies (genco) in the Visayas and Mindanao grids amid a spike in electricity spot markets.

(Iemop) Vice President for Trading Operations Isidro Cacho Jr. had said that the rates were “the highest I have seen since I joined Iemop in 2006.” Iemop is the operator of the WESM. During the period, the supply margin of the Visayas and Mindanao declined by 190 megawatts (MW) and 253 MW, respectively, influenced by outage levels, supply constraints relative to demand, and grid alert conditions. The tight supply situation due to forced outages in Visayas was compounded by constraints affecting the LuzonVisayas High Voltage Direct Current (HVDC) interconnection. With this, the Energy Regulatory Commission (ERC) earlier ordered that the Secondary Price Cap (SPC) in the WESM be computed and applied on a perregion basis instead of using a system-wide average. The ERC likewise directed the PEMC Market Surveillance Committee to look into whether the extraordinary prices were driven solely by genuine supply and reserve constraints, or

whether the bidding behavior of generators in the affected grids warrants closer scrutiny under Electric Power Industry Reform Act’s rules on market power abuse and anti-competitive behavior. Garin said this collaborative inquiry seeks to discern whether the high rates stemmed from genuine supply shortages or intentional market manipulation by the gencos. “We will just show them the trend of the market over the past few weeks. It’s not within the mandate of DOE to evaluate competitive actions. We’re referring this to the right agencies. What are the possible causes of abuse or why is there an abuse? We are not assuming that, because of the many queries that have come from the other executive offices, as well as from Congress, and also from the media, we want it checked if there really was market abuse, because if there is then somebody has to be accountable. If not, then maybe it’s time that we revise our policies,” Garin said.

“I asked to investigate if there was any market abuse on the part of our genco to show if anyone took advantage of the current situation. We have officially communicated to the PCC and PEMC to check if there was anything that should not have been done there in the market,” said Energy Secretary Sharon Garin.

The Wholesale Electricity Spot Market (WESM) prices in the Visayas shot up by 65 percent to P18.59 per kilowatt hour (kWh) for the supply period July 26 to August 25 this year. In Mindanao, WESM prices surged 88 percent to P19.56 per kWh during the same period. Independent Electricity Market Operator of the Philippines

PHL to host intl nuke conference

Philcoa set to establish PNS for 3 coco charcoal products

HE Philippines will host the integrated World Nuclear Supply Chain Conference 2026 and the Philippine International Nuclear Energy Forum 2026 next month, the Department of Energy (DOE) said on Wednesday. Jointly organized by the DOE and the World Nuclear Association, the event will gather global policymakers, regulators, developers, suppliers, and investors on October 20 and 21, 2026, at the Grand Hyatt Manila in Bonifacio Global City, Taguig. The forum aims to transition the country’s nuclear program from planning to implementation by building necessary partnerships, skills, and industrial capabilities. Discussions will focus on global project pipelines, supply-chain readiness, financing, workforce development, and regulatory challenges, while also exploring how Southeast Asian nations like the Philippines, Vietnam, and Indonesia can participate in the expanding global nuclear industry. “The Philippines intends to translate this renewed global interest in nuclear energy into concrete opportunities for our own program. By bringing policymakers and regulators together with developers, suppliers and investors, we can build the partnerships and capabilities needed to move responsibly from planning toward implementation,” Energy Secretary Sharon Garin said. Under the Philippine Energy Plan, the country targets at least 1,200 megawatts (MW) of nuclear capacity by 2032, increasing to 2,400 MW by 2035 and 4,800 MW by 2050. The Philippines has also strengthened the institutional foundation for its nuclear energy program through Republic Act 12305, or the Philippine National Nuclear Energy Safety Act, enacted in September 2025. The law provides for the establishment of the Philippine Atomic Energy Regulatory Authority (PhilAtom) as an independent nuclear regulatory body. “Hosting this global gathering gives us an opportunity to learn from countries with decades of experience, strengthen partnerships with the international nuclear community, and identify where Filipino professionals and industries can participate in the nuclear supply chain,” Garin added. Lenie Lectura

By Ada Pelonia @adapelonia

HE government is in the process of setting national standard guidelines for the processing and handling of three coconut shell charcoal products to maintain safety and quality across the supply chain. The Philippine Coconut Authority (Philcoa) has released a notice seeking comments on the draft Philippine National Standard (PNS) Code of Practice for coconut shell charcoal, steam-activated coconut shell carbon, and coconut shell charcoal briquettes. “Please be informed that the Philippine Coconut Authority, through the Technical Committee on the development of the Philippine National Standard for Coconut Shell Charcoal Products, drafted the following PNS.” The draft PNS code of practice for coconut shell charcoal outlined the recommended practices and guidelines for sourcing,

processing, and handling of coconut shells to be used as charcoal for heating applications and the manufacture of activated carbon, excluding food and medicinal purposes. In addition, the guidelines for steam-activated coconut shell carbon cover a set of recommended procedures that should be adopted by processors. This will allow them to conform to its standards for liquid and gas purification, filtration, and mineral recovery, excluding direct human consumption. “This code provides guidelines for the production or processing, handling, and transport of steam-activated coconut shell carbon necessary to maintain its safety and quality from raw materials up to distributions.” The PCA, however, stressed that the code of practice excludes the production of chemical-activated coconut shell carbon. For coconut shell charcoal briquettes, the agency said

the draft procedures and rules should also be adopted by processors to abide by the commodity’s standards for fuel and industrial applications. “This code provides guidelines for the production, processing, handling, and transport of coconut shell charcoal briquettes, excluding carbonization of coconut shells.” The agency called on industry stakeholders to submit their respective comments from September 17 to November 17. In 2019, Philcoa said activated carbon is among the country’s global leaders. These are export products that earn hundreds of millions of dollars but below the $1-billion mark. (See: https://businessmirror. com.ph/2019/05/02/ activated-carbon-the-newember-warming-up-phleconomy/) The agency noted that activated carbon ranks third among the country’s traditional exports of coconut products.

Zambales-Pampanga bypass road eyed to link upland villages By Henry Empeño

AN MARCELINO, Zambales—The Department of Public Works and Highways (DPWH) is proposing the construction of a 48.5-kilometer bypass road connecting the towns of San Marcelino, Zambales, and Floridablanca, Pampanga, to serve as an alternative route between the two provinces. San Marcelino Mayor Elvis Soria said personnel from the DPWH-Zambales Second District Engineering Office discussed the proposed San Marcelino-Floridablanca Bypass Road Project here early this week, following the conduct of initial feasibility studies. The meeting, Soria said, was part of the agency’s information and education campaign for the project that will affect residents of upland communities in the town. “There are certain road issues that need to be addressed as part of the technical assessment, and the discussion focused on that,” Soria said. “We also discussed the project benefits and the next steps for better planning and project execution,” he added. The proposed bypass road will cover four upland barangays in San Marcelino, one in Subic, Zambales, and two others in Floridablanca. The Zambales alignment will start at barangay Nagbunga here, pass through the villages of San Rafael, Aglao, and Buhawen, continue through Batiawan in Subic, and then connect to the Pampanga alignment in barangays Gutad and Carmencita. The road project, which includes the construction of at least eight bridges, is programmed to be completed in six years, with approximately five years devoted to construction, the DPWH said. It will be implemented by the DPWH-Regional Office III with assistance from the agency’s Project Preparation Division, Planning Services. DPWH has conducted focus group discussions on the project in affected barangays here starting this month to apprise residents of project impact and benefits, local officials said. The proposed 48.5km road is expected to ease travel between Zambales and Pampanga and boost access and delivery of government services to remote villages like Batiawan, a barangay in Subic that could only be accessed by vehicles through Dinalupihan, Bataan and Floridablanca. Currently, motorists in Zambales take a 65-km drive through Olongapo City and Dinalupihan, Bataan, to reach Floridablanca, with travel time of almost two hours. The roadway project will also enhance economic mobility and productivity among upland communities that rely mostly on farming for their livelihood, including indigenous Aeta tribes engaged in foraging and upland agriculture, as well as tour guiding in eco-tourism sites in their ancestral domain. The proposed San Marcelino-Floridablanca Bypass Road Project will be the third bypass road system to cut through the Zambales mountain range that separates the coastal province from neighboring areas. The first is the 84-kilometer Capas-Botolan Bypass Road designed to directly link Botolan, Zambales, to Capas, Tarlac. The ongoing project connects to the Subic-Clark-Tarlac Expressway (SCTEx) and the Airport-New Clark City Access Road, bypassing long routes through Bataan and Pampanga. The second is the 54-kilometer Sta. Cruz-Mangatarem Road, popularly known as “Daang Kalikasan,” which connects Zambales’s northernmost town of Sta. Cruz to Mangatarem, Pangasinan, bypassing the western coastal road that runs through western Pangasinan.

Miners’ group vows adherence to human rights

HE Chamber of Mines of the Philippines (COMP) said the group condemns all killings and denounces violence in any form. COMP issued the statement in response to the latest Global Witness Report on killings linked to activists defending land and environment against destructive activities, including mining. “We do not support or endorse any acts of intimidation or direct harm to individuals or groups who disagree with mining operations,” COMP, which represents some of the country’s big players in the

mining industry, said. The latest Global Witness report said a total of 124 were killed, including 12 in the Philippines. Colombia reported 39 mining-related killings, while Brazil recorded 26. Aside from the Philippines, Honduras also recorded 12 deaths last year. Mexico recorded 10 deaths while Guatemala recorded eight. “At least 124 land and environmental defenders were killed in 2025 for standing up to protect their lands and livelihoods from destruction,” the report said. This figure is lower

compared to recorded deaths in 2024 at 142, including four disappearances. Nevertheless, Global Witness acknowledged that this figure brings the total number of killings and disappearances it documented since the group began work in 2012 to 2,375. The report said that the Philippines saw the highest number of killings of defenders outside Latin America in 2025, with 12 cases recorded. “State actors continue to play a central role in this violence. We identified five killings involving the suspected participation of

the Philippine military,” the report said. COMP, however, was quick to distance itself from the alleged incidents. COMP said one of its primary advocacies “is the conformance of our members with the highest standards of responsible and sustainable mining, which includes respecting human rights and ensuring the health, safety, and security of our stakeholders.” “We subscribe to laws that require Free, Prior and Informed Consent and regular consultations with host communities and authorities

in every phase of the mining process.” COMP said the fair and honest engagements with community leaders and advocates “help us ensure and ascertain that gainful mining activities are done with the recognition of the mutual benefits that responsible mining can provide to mining communities and the nation.” “We guarantee our full support and cooperation with proper authorities on any inquiry related to alleged acts of crime against persons or property,” COMP ended. Jonathan L. Mayuga

Editor: Anne Ruth Dela Cruz

Health&Fitness BusinessMirror

Thursday, September 24, 2026 C1

NEW TECHNOLOGY BRINGS MORE PRECISE, PATIENT-CENTERED CANCER TREATMENT By Anne Ruth Dela Cruz

OR people u ndergoi ng radiation therapy, precision is more than a technical consideration. It can mean targeting a tumor more accurately while limiting radiation exposure to the healthy tissues surrounding it. And for patients who may need repeated treatments, it can also mean fewer trips to the hospital and shorter, more comfortable treatment sessions. These are among the potential benefits of a new TrueBeam radiotherapy system recently launched at St. Luke’s Medical Center Global City. The system combines advanced imaging, motion tracking and radiationdelivery technologies designed to give radiation oncologists greater control over how treatment is planned and delivered. According to Dr. Angela Camacho, Head of Radiation Oncology at St. Luke’s Global City, the new system gives doctors greater flexibility in shaping and controlling the radiation beam, allowing them to deliver higher doses to the target while reducing doses to surrounding tissues. “The essence of it is it gives us doctors more flexibility and more control over the shape and the dose of the radiation beam that is being delivered to the patient,” Camacho said.

More precision, less exposure THE TrueBeam system is a linear accelerator used to deliver radiation therapy for a variety of cancers, including cancers of the brain, head and neck, lung, breast and pelvic areas, when radiation therapy is indicated. The new system comes with four upgrades: RapidArc Dynamic, ExacTrac Dynamic, HyperSight and HyperArc. One of these, RapidArc Dynamic, combines hardware and software that allow doctors to adjust the shape and dose of the radiation beam with greater flexibility. This allows treatment plans to be tailored to individual patients while helping limit radiation exposure to nearby organs and tissues. The hospital says the enhanced TrueBeam platform can reduce radiation exposure to surrounding healthy tissues by as much as 50 percent. For patients, the difference can translate into fewer side effects, depending on the treatment site and individual treatment plan. Camacho cited breast and pelvic cancer treatment as examples in which greater control over the radiation beam can help spare surrounding organs. In a breast cancer case, for instance, treatment can be planned to limit radiation reaching the heart. For pelvic treatment, the technology can help spare the bladder. “There are side effects, but we expect much lesser compared to the

THE new TrueBeam® Linear Accelerator system is equipped with state-of-the-art technologies— including HyperSight, RapidArc Dynamic, ExacTrac Dynamic, and HyperArc— offering patients localized precision with uncompromised comfort. old plans that we get,” Camacho said.

Fewer sessions for some patients THE technology may also change how long some patients need to undergo radiation therapy. Camacho cited breast cancer treatment as an example. Patients who previously received 30 sessions may, under appropriate treatment plans, receive 15 sessions through hypofractionation, a treatment approach that delivers a higher dose of radiation per session. She noted that studies have shown

comparable local control between 30and 15-session breast cancer treatments, while her team’s experience has seen fewer skin reactions among patients receiving the shorter treatment schedule. The number of sessions, however, depends on the type and site of cancer and the patient’s individual treatment plan. The technology does not mean every patient will automatically require fewer treatments.

From hours to minutes FOR patients with certain brain tu-

mors, the change can be even more striking. HyperArc is designed for treating brain lesions with high-dose radiation. Previously, some patients undergoing stereotactic radiosurgery had to wear a rigid head frame that was pinned or screwed to the skull. The treatment process could take three to four hours. With HyperArc, patients can instead use a frameless thermoplastic mask, with treatment taking about 10 to 15 minutes, according to Camacho. “It’s very comfortable for the patient. That’s the advantage of this,” she said. HyperArc, on the other hand, allows treatments for multiple brain lesions that previously took three to four hours to be delivered in about 10 to 15 minutes using a more comfortable mask.

When the patient moves, the treatment responds ANOTHER challenge in radiation therapy is movement. The body does not remain completely still, and some organs move naturally as a person breathes. ExacTrac Dynamic, described by the hospital as a first-in-the-country technology, uses thermal surface and X-ray tracking to detect even subtle movements during treatment. If the patient’s position shifts, the radiation beam can automatically pause until proper alignment is restored.

Camacho explained that this can be particularly useful when treating areas affected by movement, such as the breast, lungs and abdomen. The system’s HyperSight imaging technology also provides clearer images before treatment, allowing the team to better align the patient and verify the treatment target. Camacho said the new images are much clearer than those previously obtained through cone-beam CT and can make it easier to see changes in a lesion.

Technology with the patient in mind WHILE the new system represents a significant technological upgrade, Camacho emphasized that its value ultimately lies in how it can improve the treatment experience and give physicians greater confidence in delivering radiation. “With all of these technologies that are in store in our new machine, we get better treatment plans for the patient,” she said. The new TrueBeam system is the second TrueBeam machine in the department. Camacho said the additional capacity will allow the department to accommodate more patients, while the new system’s specialized technologies can be used for procedures such as treatment of brain lesions. See “Technology,” C3

Asian Hospital strengthens patient care through medical education, safety and better healthcare

EALTHCARE continues to evolve, driven by advances in medical knowledge, technology and a growing understanding of what patients need across the continuum of care. From keeping healthcare professionals updated on emerging innovations to strengthening patient safety and promoting greater awareness of health conditions, continuous learning and collaboration remain essential to improving outcomes. These efforts are reflected in a range of initiatives of Asian Hospital and Medical Center—from medical education and clinical safety programs to community health campaigns and scientific forums—that seek to translate knowledge into better, safer and more patient-centered care.

From medical education to better patient care

ASIAN Hospital, through the Department of Internal Medicine, held its 17th Postgraduate Course, “Beyond the Present: Redefining the Holistic Internist in the Digital Era,” at Acacia Hotel Manila. Led by Department of Internal Medicine Chairman Dr. Eric Amante and Postgraduate Course Lead Dr. Lenora Fernandez, the course brought together medical professionals for learning, collaboration and knowledgesharing on the evolving practice of Internal Medicine. The program featured sessions from various specialists covering timely topics in healthcare, including artificial intelligence, emerging technologies, modern clinical strategies, biologics and other developments relevant to Internal Medicine. It also included group discussions and hands-on workshops that allowed participants to engage with the topics and explore their practical applications. Amante said the course was designed to bridge current practice with future developments in healthcare. “The vision behind this year’s postgraduate course, our 17th postgraduate course, for the Department of Medicine in Asian Hospital, is really just looking at combining the present with the future. We know that it’s the digital age, it’s the age of artificial intelligence and other innovations. And our vision for today is to educate people on what’s available now and how we can integrate all of these technologies that are here and coming in the future in our medical practice,” he said.

DR. Eric Amante, Chairman of the Department of Internal Medicine, during the 17th Postgraduate Course of the Department of Internal Medicine, held at Acacia Hotel Manila.

He added that the program featured group discussions and hands-on workshops focused on the latest developments in healthcare, including artificial intelligence, new technologies, biologics and other innovations relevant to internists, subspecialists and trainees. The course provided internists, subspecialists and trainees with opportunities to expand their knowledge and explore new approaches to delivering better patient care.

Making every step in surgery safer

ASIAN Hospital received the Gold Award, the highest recognition in the Infection Control Excellence category, at the 2026 Hospital Management Asia (HMA) Awards held in Bangkok, Thailand. The award recognized the initiative “Timing is Everything: AHMC Surgical Safety Practice through Timed Antibiotic Prophylaxis,” which highlighted the importance of timely antibiotic administration in promoting patient safety during surgical procedures. The recognition reflected the institution’s commitment to safe, quality and clinically excellent care, guided by its “Alagang Deserve, Alagang Sulit” commitment. Accepting the award on behalf of the hospital were Dr. Carmen B. Nievera, Chief Medical Officer; Arvin Mark T. Pascual, MAS, RN, Director for Quality Management, Medical Records and Compliance; Dr. Jemelyn U. Garcia, Chair of the Antimicrobial Stewardship Committee; Dr. Joseph Adrian L. Buensalido, Chair of the Infection Prevention and Control Committee; Joselle May Lanzar-Dioneo, RPh, Senior Manager for Inpatient Pharmacy; Justine Emma Rose V. Silvano, MN, RN, Manager of the Infection Prevention and Control Unit; and Lorenzo V. Bisquera, RPh, Assistant

HENNESY MIRANDA, Director of Marketing and Patient Experience, with Ate Rose, short for Atherosclerosis, during the Asian Development Bank (ADB) Health and Wellness Fair. ACCEPTING the prestigious award for Asian Hospital and Medical Center were Dr. Carmen B. Nievera, Chief Medical Officer; Arvin Mark T. Pascual, MAS, RN, Director for Quality Management, Medical Records and Compliance; Dr. Jemelyn U. Garcia, Chair of the Antimicrobial Stewardship Committee; Dr. Joseph Adrian L. Buensalido, Chair of the Infection Prevention and Control Committee; Joselle May Lanzar-Dioneo, RPh, Senior Manager for Inpatient Pharmacy; Justine Emma Rose V. Silvano, MN, RN, Manager of the Infection Prevention and Control Unit; and Lorenzo V. Bisquera, RPh, Assistant Manager for Clinical Pharmacy.

DR. Frank Nacario, Head of the Asian Pain Management Center, with his staff and team during the Pain Awareness Week activity.

AMONG those present at the Asian Brain Institute’s scientific forum were, from left, Dr. Noel Ligaya, Dr Jan Kristoper De Guzman, Dr Samantha Anne Gutierrez, Dr. Kevin Michael Moalong, Dr Jerico Dela Cruz, Rhyzzalyn Tolentino and Dr. Isah Centino

Manager for Clinical Pharmacy. The achievement recognized the collective efforts of the teams behind the initiative and underscored the importance of every detail in advancing patient safety and clinical excellence.

Understanding pain that cannot always be seen

PAIN may not always be visible, but it deserves to be understood. Asian Hospital kicked off Pain Awareness Week with “Kirot na Walang Sugat:

Understanding Neuropathic Pain,” bringing together participants for discussions and shared learning about neuropathic pain. Led by Dr. Frank Nacario, Head of the Asian Pain Management Center, the activity highlighted the importance of recognizing and understanding pain, particularly when its symptoms may not always be visible. The discussions provided insights into neuropathic pain, its possible manifestations, and the importance of seeking appropriate care and guidance. The event also encouraged open conversations about pain

and promoted greater awareness of the experiences of people living with pain. By creating a better understanding of neuropathic pain, the activity emphasized the importance of listening to what the body communicates and seeking appropriate care when needed. The observance of Pain Awareness Week also highlighted the role of health education in promoting greater awareness, understanding and better pain care.

Taking a closer look at heart health

ASIAN Hospital brought its Ate Rose campaign to the Asian Development Bank (ADB) Health and Wellness Fair to raise awareness about atherosclerosis, a condition that can affect the heart and blood vessels. Led by Hennesy Miranda, Director of Marketing and Patient Experience, the initiative encouraged ADB employees to take an active role in protecting their heart health and reducing cardiovascular risks. The campaign highlighted the importance of knowing and monitoring cholesterol levels, maintaining an active lifestyle and making heart-healthy choices as part of everyday life. Through the health and wellness fair, participants had an opportunity to learn more about atherosclerosis and the steps they could take to support better cardiovascular health. The initiative also reinforced the importance of early awareness and regular health monitoring in addressing potential risk factors for atherosclerosis. Through Ate Rose, the institution continued to make conversations about heart and vascular health more relatable and accessible to the community. The campaign reminded participants

that taking care of heart health starts with simple, informed choices. Beat ATHEROSCLEROSIS!

Strengthening stroke care through knowledge and collaboration

THE Asian Brain Institute held a scientific forum at the Azumi Workspace in Alabang, Muntinlupa, that brought together healthcare professionals for discussions on the evolving approach to stroke care. Titled “The Next Frontier Stroke Care,” the forum highlighted the importance of every step in the stroke care journey—from recognizing the signs early and providing timely intervention to preventing recurrence and supporting recovery. Speakers shared insights on acute stroke care, advanced interventions, secondary prevention and rehabilitation, providing participants with updated knowledge and perspectives relevant to clinical practice. The discussions emphasized the importance of timely and coordinated care in helping patients achieve better outcomes following a stroke. The forum also provided an opportunity for healthcare professionals to exchange experiences, learn from experts and strengthen their understanding of comprehensive stroke management. Through the learning exchange, the institution supported continued education and collaboration among healthcare professionals. The activity underscored the importance of advancing knowledge across the different stages of stroke care, from the acute phase through recovery and long-term prevention. The forum brought together speakers and participants in a shared commitment to strengthening stroke care and promoting better outcomes for patients and their families.

Health&

Business

C2 Thursday, September 24, 2026

Kalin seeks to ease burden GENPRIME FERTILITY MANILA, HEALTHWAY CANCER CARE HOSPITAL PARTNER TO SUPPORT of caregiving at home FERTILITY PRESERVATION FOR CANCER PATIENTS By Rizal Raoul Reyes Contributor

By Candy P. Dalizon

way Cancer Care Hospital, we can help patients understand their fertility options at the right time, while considering not only the treatment they need today, but also the life and family they may hope to have after treatment,” Dr. Ancheta added.

Contributor

ANCER patients who hope to have children in the future can now explore fertility preservation options more conveniently through a new partnership between GenPrime Fertility Manila and Healthway Cancer Care Hospital (HCCH), the country’s first dedicated cancer hospital. The partnership brings together HCCH’s comprehensive cancer care and GenPrime’s expertise in fertility care to address an important consideration for some cancer patients: how treatment today may affect their ability to have children in the future. Protecting future possibilities When someone is diagnosed with cancer, having children may understandably not be the first thing on their mind. The immediate focus is often on treatment and recovery. However, certain cancer treatments can affect fertility. Some chemotherapy medicines can damage eggs in the ovaries or cells involved in sperm production. Radiation therapy may also affect fertility, particularly when reproductive organs or nearby areas are exposed to radiation. The impact varies depending on factors such as the type and dose of treatment, the part of the body being treated, the patient’s age, and individual circumstances. Fertility preservation offers medical

Looking beyond cancer treatment

HCCH President and CEO Dr. Manuel Francisco Roxas and GenPrime founder Margaret Wang options that may help preserve the possibility of having biological children in the future, including freezing eggs, sperm, or embryos for possible use later. Because not every cancer treatment affects fertility in the same way, and fertility preservation may not be appropriate for every patient, speaking with a fertility specialist can help patients understand the potential impact of their treatment and the options available to them.

Bringing cancer and fertility care together THROUGH the partnership, HCCH and GenPrime Fertility Manila are bringing cancer and fertility care closer together, allowing patients to access guidance on fertility preservation as part of their overall

cancer care journey. Patients who may benefit from fertility preservation can be connected with GenPrime’s fertility specialists to discuss how their planned treatment could affect fertility and what options may be available to them. This can give patients an opportunity to explore fertility preservation before cancer therapies begin, when medically appropriate. “Patients facing cancer already have so much to navigate. They shouldn’t also have to figure out on their own where to go or who to speak to if they hope to have a baby or become parents in the future,” said Dr. Anthony Marc Ancheta, Medical Director of GenPrime Fertility Manila. “Through our partnership with Health-

ACCORDING to Dr. Manuel Francisco Roxas, HCCH President and CEO, while immediate cancer treatment is the top priority following a diagnosis, comprehensive care must also extend beyond the disease to support patients’ overall quality of life and future aspirations. “For patients who may want to have children someday, fertility can be an important part of that future. Our partnership with GenPrime Fertility Manila allows us to connect appropriate patients with fertility specialists early, so they have the opportunity to understand their options before treatment begins,” said Dr. Roxas. Located in Parañaque City, GenPrime Fertility Manila is part of GenPrime Fertility’s global network, with clinics in Singapore, Bangkok, Kuala Lumpur, and Los Angeles. The Manila clinic provides fertility assessments, fertility preservation, and assisted reproductive treatments, including in vitro fertilisation (IVF) and intrauterine insemination (IUI), giving Filipino patients access to fertility care locally while drawing on the practices and expertise shared across the GenPrime network.

Reverse aging isn’t about doing everything; it’s about doing what actually works

By Mae Ng

HE pressure is everywhere. Instagram tells you that you need this. TikTok tells you that you need that. Your friends are trying something, and suddenly you’re wondering if you’re falling behind. The aesthetic world moves so fast that staying informed feels impossible. And that’s exactly the problem. Aesthetic choices shouldn’t be made hastily. They shouldn’t be made because you saw a before-and-after on your feed. They shouldn’t be made because everyone else is doing it. But that’s how most people end up booking treatments—rushed, uncertain, following someone else’s blueprint instead of their own. Here’s what I’ve learned building Le Meur in the Philippines for five years: my global MBA gave me business tools, but what running a clinic taught me is that aesthetic choices shouldn’t be made in a panic. They shouldn’t be made because you saw a before-and-after on your feed. They shouldn’t be made because everyone else is doing it. After five years building Le Meur with three locations across Metro Manila, I’ve learned that the women and men who are truly satisfied with their aesthetic choices aren’t the ones who did the most treatments. They’re the ones who did decided on the right treatments for them. That requires a different approach entirely.

What ‘reverse aging’ actually means

LET’S be honest: reverse aging is a loaded term. It implies you can turn back time, and that’s not true. But what is true is that you can restore what time has taken—and understanding that difference matters. When we talk about visible aging, we’re usually talking about three things happening simultaneously. Your skin is losing structural support. The collagen and elastin that kept everything lifted and firm are breaking down. This is why faces start to look tired or hollow, not just lined. Your skin’s surface quality is degrading. Sun damage, environmental stress, hormonal changes, and the simple passage of time all show up as texture, tone changes, and cumulative damage. And most critically, your skin’s regenerative capacity is declining. It’s not bouncing back as quickly. It’s not responding to damage as efficiently. It’s not rebuilding itself the way it used to. Most aesthetic treatments address one or two of these. The best ones address all three. And that’s where informed decisions become crucial.

The trend trap

I NOTICE a pattern in my clinic consultations— women coming in with a treatment they saw

not getting something. Maybe you don’t need a full combination protocol. Maybe you start with one treatment and assess before proceeding. Maybe you focus on quality over quantity. Informed means understanding your full plan, including the gaps. This approach takes more time. It requires more conversation. It’s less transactional and more relational. But it works.

Moving forward

online, convinced it’s what they need, only to discover it’s not addressing their actual concern. Someone comes in wanting the hottest new laser because they saw it on Instagram, but what they actually need is structural rebuilding. Someone else wants injectables because their friend got them, but their real issue is skin quality and texture. The treatments are good; they are not just for them. Trends are efficient marketing. They’re not efficient aesthetics. Here’s what trends do well: they create excitement, they democratize conversation about beauty, and they make aesthetic choices feel accessible. But here’s what they don’t do: they don’t assess you. They don’t look at your specific skin, your specific goals, your specific timeline, and recommend accordingly. Informed decisions do that. And that’s a completely different conversation.

The protocol that made sense

WHEN we were sourcing the latest aesthetic technologies, we noticed something consistent in clinical data and real-world results: the most dramatic reverse aging outcomes weren’t coming from single treatments. They were coming from specific combinations, done in a specific order, by providers who understood the full picture of what their clients actually needed. This led us to develop and offer the Density Noir x Ultherapy PRIME protocol—two FDA-approved technologies combined in a way that addresses all three dimensions of aging simultaneously. Density Noir rebuilds collagen density at the

deepest level, restoring structural support and firm, lifted contours. Ultherapy PRIME stimulates elastin regeneration, which improves both the lift and the skin’s ability to regenerate itself going forward. Used together, in sequence, they create a reverse aging effect that neither can achieve alone. But—and this is important—this isn’t a trend. It’s not something you get because everyone’s doing it. It’s something you get because your assessment shows it’s what your skin needs, your goals align with what it delivers, and you’re ready for the timeline and commitment involved.

What informed means (and why it matters)

INFORMED decisions in aesthetics mean a few specific things. Someone actually assesses you. Not a generic treatment menu, but a real consultation where someone looks at your skin, understands your concerns, and recommends based on your reality, not a preset package. You understand what you’re treating. Not just “I want to look younger” in a vague way, but something concrete—here’s the specific thing I see that’s bothering me, and here’s why this treatment addresses it. You know what’s realistic. Not miracle claims, but honest timelines. Month one results versus month three. What aftercare actually involves. What you can maintain versus what requires ongoing commitment. You understand what you’re not doing. Sometimes the smartest aesthetic decision is

LE MEUR’S Greater Le Meur campaign—which held a technology reveal at our Greenhills flagship location on September 17, 2026,—embodies this philosophy. We introduced Density Noir and Préime Dermfacial, not as trend-following additions, but as carefully selected technologies that address the full spectrum of reverse aging. The event wasn’t a promotional push; it was an invitation to think differently about aesthetic choices. What made the event different wasn’t the machines. It was the conversation. Patients talked openly about their aesthetic concerns. Doctors explained the science without the sales pitch. Attendees asked real questions and got honest answers about timelines, expectations, and what they should not do. This campaign isn’t about doing more. It’s about doing what actually works. If you’re considering any aesthetic treatment, ask yourself these questions: Am I doing this because I actually want it, or because I saw it online? Huge difference. Does the provider know me, or are they selling me a package? Assessment matters. A lot. What’s the realistic timeline and aftercare? If you’re not hearing specifics, keep asking. Do I understand what this is actually treating? You should be able to explain it clearly. Reverse aging that works isn’t about doing the most. It’s about doing the right things for you, in the right order, with the right support. Le Meur was built on that belief. We’re not here to sell you treatments. We’re here to help you make informed decisions about your aesthetic goals. If that leads to a treatment, great. If it leads to a wait-and-see, or a staged approach, or something completely different—that’s good too. Because the best aesthetic decision is always the informed one. Mae Ng, MBA, is Founder & CEO of Le Meur Aesthetics. Operating since 2021 across Ayala Makati, Greenhills San Juan, and Banawe Quezon City in the Philippines, Le Meur specializes in patient-centered treatment protocols and advanced aesthetic technology. Visit lemeuraesthetics.ph to learn more.

ONG before a patient is admitted to a hospital, much of the burden of managing chronic illness is already being carried at home. In the Philippines, where families often rely on relatives to provide care, unpaid family members can find themselves taking on the roles of caregiver, administrator and financial manager, often while trying to balance their own work, family responsibilities and well-being. Former overseas Filipino worker Larisse Lava-Austria knows this burden firsthand. She helped her family care for their late mother during her battle with lung cancer, an experience that eventually inspired her to establish Kalin, a home healthcare technology platform designed to help families better manage caregiving at home. “Caregiver burnout is one of the most overlooked challenges in chronic disease management,” Lava-Austria told the BusinessMirror in a one-on-one interview. “When a family member falls ill, the focus is almost entirely on the patient. But without structured support, governance and daily check-ins, the caregivers themselves end up needing care,” she added.

Care ecosystem

AT the center of Kalin is what Lava-Austria calls its Digital Care Circle Ecosystem, a centralized platform designed to help distribute the responsibilities of patient care among family members, including those who may be living far from home. The platform allows families to coordinate daily care activities, medication schedules and medical appointments, helping ensure that responsibilities do not fall solely on one person. It also includes tools for tracking caregiving expenses, giving family members greater visibility over the costs associated with long-term care. For families with relatives working or living overseas, the platform is designed to keep non-resident family members informed and allow them to participate in decisions and caregiving responsibilities remotely.

Supporting the caregiver

BEYOND coordinating the practical aspects of caregiving, Lava-Austria said Kalin also aims to address the emotional strain experienced by people providing long-term care. The platform includes regular check-ins that allow primary caregivers to monitor their physical and emotional well-being and identify signs of exhaustion and stress. Kalin also provides access to non-medical emotional peer support through its Care Concierge service, where users can share their experiences and challenges with others going through similar caregiving journeys. Lava-Austria said the platform can also provide pathways to professional mental health referrals when elevated levels of distress or burnout are identified. She said these features are designed to complement, rather than replace, professional medical and mental health services.

Bringing structure to home care

KALIN is also building what Lava-Austria describes as a Trusted Care Network, which screens and verifies non-medical caregivers. Among the qualifications it considers are credentials such as TESDA certification. The goal, she said, is to give families a more structured alternative to relying solely on word-of-mouth referrals when looking for people to provide care at home. Kalin also offers sales and rental options for essential medical equipment, including hospital beds and wheelchairs. Lava-Austria said this is intended to make long-term home care more accessible and allow families to create safer care environments at home without shouldering large upfront expenses. Looking ahead, Kalin plans to expand into underserved communities in the Visayas and Mindanao by exploring partnerships with local government health initiatives and programs such as PhilHealth’s YAKAP. Lava-Austria said Kalin also sees potential partnerships with insurance companies and financial institutions, particularly those developing products and services related to caregiving. “The ecosystem would include the Care Console operating system, a trusted care network, Care Space, and partnerships with assistedcare facilities,” she said. Kalin could also work with assisted-care facilities through an outsourced care concierge model, she added. “Instead of customers having to manage everything themselves, Kalin would do the work for them,” Lava-Austria explained.

Building a caregiving ecosystem

ANOTHER component of the platform is the Caregiver Companion, an AI-driven tool designed to work with information entered into the system. For instance, Lava-Austria said, a family member could ask the system to provide a patient’s records from the previous three days, allowing relevant information to be retrieved more quickly. For Lava-Austria, however, the larger opportunity goes beyond developing another healthcare application. She envisions an integrated caregiving ecosystem that brings together the different people and organizations involved in caring for a patient. “I presented this concept to one of my partners, and this is how the ecosystem looks. Kalin Collective would serve as the parent company, with three major components under it: the Kalin Care app, Kalin Shop and Kalin Wellness,” she said. The broader ecosystem, she explained, could eventually bring together hospitals, organizations, local government units, schools and nursing or caregiving programs, as well as care providers, medical suppliers and caregiver organizations. Through these partnerships, Lava-Austria said Kalin Collective hopes to connect families and caregivers with healthcare institutions, assistedcare facilities, insurers, financial companies and government agencies. The objective is to make caregiving more coordinated and accessible—not only for the patient, but also for the family members who shoulder much of the work of caring for them at home.

&Fitness

sMirror

Thursday, September 24, 2026 C3

Leptospirosis cases up 38% as DOH Beyond looking younger: The new conversation on aging well reports epidemic threshold breached By Claudeth Mocon-Ciriaco

TOTAL of 10,936 suspected leptospirosis cases have been reported as of September 16, 2026, according to the Department of Health (DOH). The figure is 38 percent higher than the 7,931 cases recorded during the same period in 2025, the DOH said. Over the past three to four weeks, cases were 116 percent higher than those recorded during the preceding five to six weeks, pushing the national figures beyond the epidemic threshold. At present, 46 Philippine Health Information System (PHIS) facilities across 10 regions have breached the epidemic threshold and are showing increasing growth rates. The National Capital Region, Region II, and Calabarzon have the highest number of PHIS facilities included on the list.

Flooding drives increase CONTINUOUS rains and flooding brought about by climate change remain the primary drivers of the increase in cases, accounting for 66 percent, or 7,242, of the cumulative cases. Males accounted for a larger proportion of cases, with 8,640, or 79 percent, affected. Most were from the working-age group, with

a median age of 33 years, reflecting increased exposure to floodwaters. The cumulative case fatality rate (CFR) stands at 5.1 percent, lower than the 10.55-percent CFR recorded in 2025. Despite the lower CFR this year, 42 percent of the total deaths occurred during the morbidity weeks when the epidemic threshold was breached. The DOH cautioned the public to immediately seek medical advice after exposure to floodwaters, whether symptoms are present. Cases must be identified as early as possible, and treatment should be initiated even without laboratory confirmation when leptospirosis is clinically suspected, as delays in treatment can rapidly lead to complications, including death.

DOH strengthens response THE DOH said it continues to strengthen patient navigation and referral coordination across its hospitals and partner government health facilities, including the National Kidney and Transplant Institute, San Lazaro Hospital, and East Avenue Medical Center. The measures are intended to facilitate timely admission and access to appropriate levels of care. The existing DOH Leptospirosis Tracker

has also been expanded into a Unified Leptospirosis and Dengue Case Tracker to support: n monitoring of hospital capacity and caseload; n identification of referral, surge, and resource requirements; and n timely operational decision-making and response. Hospital bed occupancy and patients’ clinical status are also being continuously monitored to identify facilities that are at or approaching capacity and guide patient referrals, surge measures, and resource augmentation.

Prevention remains key THE DOH underscored the need for intensified public health advisories on preventing leptospirosis, including avoiding exposure to floodwaters and seeking early medical consultation following exposure. It also called for continued coordination with respective Centers for Health Development (CHDs) to assess needs and provide technical assistance, particularly in areas at increased risk of exposure and leptospirosis cases. The DOH is also prepositioning doxycycline stocks in CHDs, particularly in flood-prone and high-risk areas, to ensure timely access to post-exposure prophylaxis and treatment when indicated.

WHO urges Parents Against Vape expands everyone to learn campaign for total vape ban about Primary Health Care

MEMBERS of the Parents Against Vape conduct a signature campaign to advocate for stronger protection of children and young people against vapes.

By Patrick Villanueva

NDERSTANDING Primary Health Care (PHC) has become a focus of the World Health Organization (WHO), which recently launched a free, short online course on the subject through its learning platform. Described by WHO Director-General Dr. Tedros Adhanom Ghebreyesus as “one of the most misunderstood concepts in public health,” PHC encompasses “action across sectors to address the social, economic, commercial and environmental determinants of health,” according to remarks he delivered at a WHO plenary session in 2023. Tedros noted that even within the public health community, PHC is sometimes misunderstood as simply referring to health service delivery at the local level. The WHO course seeks to address this knowledge gap by providing a basic understanding of the PHC approach and its role in strengthening health systems.

Three core components

TITTLED “The Primary Health Care Approach: A Short Course,” the course covers PHC principles, its three core components, and evidence-informed strategies for strengthening PHC-oriented health systems. The content is based on WHO guidelines and frameworks on the subject. The course requires approximately 1.5 hours to complete and consists of five core modules. According to WHO, the modules cover the fundamentals of PHC, evidence-informed strategies for its core components, and how health systems can adapt and apply the PHC approach. The new course was adapted from an earlier program launched in 2024, “Strengthening Primary Health Care Leadership: Global Capacity Building Course.” WHO emphasizes that a shared understanding of PHC can help translate the approach into improvements in health systems and health outcomes. “The strong consensus among WHO Member States to strengthen PHC-oriented health systems is an important opportunity to accelerate progress,” said Dr. Kalipso Chalkidou, Director of the Department of Performance, Financing and Delivery.

Share responsibility

CHALKIDOU also emphasized that strengthening PHC is a shared responsibility that extends beyond health professionals and institutions. “This course is for everyone. Translating the PHC approach into our clinics, classrooms, communities, meeting rooms and workplaces—it is a shared responsibility. We all play a part in making PHC a reality,” she said. Those interested in learning more about Primary Health Care can access the course through the WHO Academy at whoacademy.org.

O strengthen the call for amendments to Republic Act No. 11900, or the Vaporized Nicotine and Non-Nicotine Products Regulation Act, and a total vape ban in the Philippines, Parents Against Vape (PAV) continues to gather signatures from communities across the country. Through its Signature Campaign for a Total Vape Ban, PAV is encouraging parents and community members to express their support for stronger measures to protect children and young people from vaping and nicotine addiction. Among the areas that have joined the campaign are Sorsogon City, Casiguran in Sorsogon, and Quezon City, where parents, School Parents-Teachers Associations (SPTAs), parent advocates, and other community members have participated in efforts calling for safer, smoke-free, and vape-free communities.

Parents mobilize in communities

IN Quezon City, signatures were collected in the communities of Batasan Hills and Bagong Silangan, with the participation of parent advocates and SPTAs involved in community-based efforts to protect children and young people. PAV said the participation of parents and community members helps strengthen awareness of its call for greater protection against vaping and nicotine products. Sorsogon City and Casiguran, Sorsogon, have also become part of the campaign, with parents, SPTAs, and other community members expressing support for safer and vape-free communities. For Agnes Aliparo, SPTA president of Batasan

Technology...

Hills National High School (BHNHS), it is important to consider how decisions made today could affect children in the future. “Every decision we make today affects the future our children will inherit. If we want a healthier next generation, we need to support measures that prevent young people from being exposed to tobacco and vape products. As parents, we support the call for a Total Vape Ban. Let us choose measures that protect our children, not products that may put them at risk,” Aliparo said.

Community voices

FOR Theresa Rose Sia, board member of Parents Against Vape, continued community involvement is vital to strengthening the group’s call for greater protection of children and young people. “Every signature shows that parents and community members are willing to stand together for a safer future for our children. The voices coming from our communities are important in the call to amend RA 11900 and strengthen protections for young people from vape products. Let us continue to show that the safety and health of our children should be a primary consideration,” Sia said. PAV continues to encourage parents, SPTAs, young people, schools, and other community stakeholders to participate in its Signature Campaign for a Total Vape Ban and support its call to amend RA 11900. The signature campaign forms part of PAV’s broader community advocacy for stronger protection of children and young people and for the development of safer, smoke-free, and vape-free communities.

Continued from C1

The investment is part of St. Luke’s effort to bring advanced cancer treatment closer to Filipino patients. The hospital says its goal is to combine advanced technology with specialized oncology care so patients and their families can access sophisticated cancer treatment locally. For patients facing cancer, however, the significance of the technology may be measured in more personal terms: a treatment that takes minutes instead of hours, fewer sessions when clinically appropriate, greater protection for healthy tissues, and a treatment plan tailored more closely to their individual needs. As Camacho put it, the goal is greater precision, accuracy and efficiency—ultimately helping doctors deliver the right treatment to the right target while keeping the patient’s safety and comfort at the center of care.

ULTHERAPY Prime

By Anne Ruth Dela Cruz

T Makati Medical Center’s Skin and Laser Hub, dermatologists say aesthetic treatments should be about enhancing—not changing—a person’s natural appearance The conversation around aesthetic medicine is changing. For many patients, the goal is no longer necessarily to look younger at all costs. Increasingly, it is about looking refreshed, addressing early signs of aging and maintaining a natural appearance without dramatically changing the way they look. That philosophy is at the heart of Makati Medical Center’s Skin and Laser Hub, which recently introduced Ultherapy Prime, a noninvasive ultrasound-based treatment designed for lifting and tightening. But for the dermatologists behind the new service, the technology is only part of the story. The more important conversation, they say, is about choosing the right treatment for the right patient—and knowing when a treatment may not be appropriate. “We augment, we highlight, but we definitely would not want the patient to look different,” said Dr. Malou de Veyra, head of the Skin and Laser Hub.

Not every patient needs the same treatment ULTHERAPY Prime is one of several options available to patients seeking a more lifted or rejuvenated appearance without surgery. Dr. Jose Giovanni Dimayuga, assistant head of the Skin and Laser Hub, explained that patients have different choices, ranging from minimally invasive procedures such as neuromodulators and fillers to non-invasive technologies such as radiofrequency and ultrasound. Ultherapy uses high-intensity focused ultrasound, or HIFU, to deliver energy to targeted layers of tissue. The Prime system, according to the doctors, allows them to visualize the treatment area and personalize the depth and placement of the energy based on the patient’s anatomy. That personalization is important because there is no single treatment setting that works for everyone. Dr. Donna Sarossa, chair of the Department of Dermatology, said a younger patient, for example, may have thicker skin and require a different approach from someone with more pronounced signs of aging. The objective, she said, is not simply to follow a preset machine parameter but to understand the patient’s anatomy and determine what is appropriate. For Dr. Dimayuga, this also means being honest about what a non-invasive procedure can and cannot achieve. He pointed out that a patient with significant facial sagging may not be the ideal candidate for Ultherapy. In some cases, a facelift may provide a better result, provided the patient is medically suitable and willing to undergo surgery. “If the sagging is too much, I don’t want to promise,” he said. That may be one of the more important messages for patients navigating an increasingly crowded aesthetic market: the most popular treatment is not necessarily the most appropriate one.

The technology is only as good as its user THE doctors also emphasize that the equipment does not replace clinical judgment. Dr. De Veyra described the appeal of Ultherapy Prime as its precision and ability to visualize the treatment area. The device targets the superficial musculo-aponeurotic system, or

SMAS, a layer of tissue also involved in surgical facelift procedures. The treatment creates microscopic areas of thermal injury, which trigger the body’s healing response and stimulate collagen production, according to Dr. De Veyra. Because the process is gradual, patients should not expect an instant transformation. Changes may begin to become noticeable after several weeks and develop over the succeeding months. Dimayuga said patients generally should not rush into another treatment simply because they do not see immediate results. “Management of expectations, realistic expectations,” he said, is one of the most important things patients should understand before undergoing the procedure. For some patients, treatment may be performed about once a year, although the appropriate interval depends on the individual.

Subtlety is part of the goal PERHAPS the biggest difference between the doctors’ approach and the image often associated with aesthetic medicine is the emphasis on subtlety. Dr. Sarossa said patients can leave after the procedure without obvious signs that they have undergone treatment, while changes appear gradually. Dr. Dimayuga said some of his patients initially do not notice a difference themselves. Months later, however, someone who has not seen them for a while may comment that their face looks more defined, particularly around the jawline. That subtle progression is precisely what the doctors want. “When you see your face every day, you don’t notice,” Dr. Dimayuga said, describing how patients may only recognize the change when they compare themselves with older photographs or receive comments from friends. For Dr. De Veyra, however, the goal goes beyond the technology. Patients should first accept their own individuality, she said, rather than come into a consultation wanting to resemble a celebrity or follow a particular beauty trend. “We are not here to make another person look like Kim Kardashian,” she said. Instead, she said, dermatologists should help patients enhance their existing features while preserving their identity.

Knowing when to say no THAT philosophy also means that doctors sometimes have to tell patients no. Dr. De Veyra said responsible aesthetic practice requires doctors to recognize when a procedure will not suit a patient or when the patient’s expectations are unrealistic. Dr. Sarossa similarly stressed that Ultherapy is not appropriate for everyone. The Skin and Laser Hub has other technologies precisely because different skin concerns require different approaches. This broader perspective is also how the doctors envision the role of the Skin and Laser Hub—not simply as a place where patients can undergo a particular aesthetic procedure, but as a setting where different concerns can be assessed and addressed according to individual needs. For patients considering non-invasive lifting, Dr. Dimayuga’s advice is straightforward: start with a consultation, understand what the treatment can realistically deliver, and have the procedure performed by a trained physician in an accredited setting. Makati Medical Center formally launched Ultherapy Prime at the Skin and Laser Hub on September 10, 2026. The launch program introduced the technology as the latest addition to the center’s range of aesthetic services.

Health&Fitness

C4 Thursday, September 24, 2026

BusinessMirror

Beyond the oncologist: Why cancer care takes an entire ecosystem

By Anne Ruth Dela Cruz

Why PCC is not opening a satellite clinic

THAT multidisciplinary model also helps explain a decision PCC has made despite the large number of Filipino patients it sees: it is not planning to open a satellite clinic in the Philippines. For a cancer center with a significant Filipino patient base, the idea might seem logical. Patients would no longer have to travel to Singapore, while PCC could extend its services to a market it already knows well. Ang acknowledged that, from a business perspective, establishing a

clinic in the Philippines would make sense. But business is not the only consideration. The more difficult question, he said, is whether PCC could deliver the same standard of care outside Singapore. His answer was no. PCC has considered setting up satellite clinics in the region, but Ang said the center has to ask whether it can reproduce the same level of care in another country. The concern is not simply about having an oncologist available. It is about having the entire team and infrastructure behind that doctor. “If you ask ourselves in all honesty, whether you can deliver the same standard of care, I think the honest answer must be a no, we cannot,” he said. For Ang, the decision is tied to PCC’s three principles: trust, care and hope. “Are we being trustworthy if we only think of the bottom line?” he said.

A different model of cancer care

THE idea of coordinated, multidisciplinary care goes back to PCC’s beginnings. Founded in 2006, the center was established when cancer care in Singapore was largely fragmented, requiring patients to move between specialists during their treatment journey. Four physicians—Ang, Dr. Khoo Kei Siong, Dr. Teo Cheng Peng and Dr. Li Hong Liang—came together to establish a multidisciplinary, one-stop facility focused on coordinated and individualized cancer care. Twenty years later, PCC is marking the milestone by emphasizing three values that it says will guide its next chapter: trust, care and hope. For Ang, these are not simply institutional statements. Trust means patients should know they are receiving the best possible care. Care means helping patients live as fully as possible despite cancer.

Keeping cancer care human

DR. Ang Peng Tiam, Medical Director and Senior Consultant of Parkway Cancer Centre in Singapore Hope, meanwhile, does not necessarily mean expecting a cure. Sometimes, he said, hope means simply being able to live long enough to attend a wedding, witness the birth of a grandchild or accomplish something important.

Why some Filipino patients go to Singapore

THE model also helps explain why some Filipino patients continue to travel to Singapore for treatment. Ang said PCC sees Filipino patients from different backgrounds. Some arrive after their disease has advanced or after previous treatments have failed. But he has also observed patients coming much earlier—sometimes soon after being told they may have cancer. For these patients, the attraction is not necessarily a particular treatment. It can be the ability to move quickly from suspicion to diagnosis and, eventually, a treatment plan. Ang recalled a patient who had been told she might have breast cancer. In the Philippines, she was facing a wait for a PET scan, followed by a biopsy and several more days for the results. In Singapore, she underwent the PET scan in the morning and a biopsy in the afternoon. Staging was completed and a treatment program was started the following day. “Within 48 hours of arrival, we should be able to complete our evaluation and come up with a proposed treatment program,” Ang said. Ang is careful, however, not to gen-

SUNNY is the newly redesigned mascot of Parkway Cancer Centre to embrace trust, care and hope, embodying the center’s corporate values. eralize about cancer care in the Philippines. He acknowledged that there are good doctors and hospitals in the country, but said consistency, speed and resources can vary. He described the challenge as the ability to “move fast enough, to move accurately enough, consistently,” noting that patient volume and resource constraints can make that difficult.

When AI sees more

TECHNOLOGY is adding another dimension to cancer care. PCC has begun incorporating artificial intelligence into its hospital system, including imaging. But Ang’s experience suggests that AI does not necessarily make medical decisionmaking simpler. He cited the case of a patient with colon cancer whose CT scan appeared to show three nodules in the lungs. Based on the conventional interpretation, surgery to remove the nodules could be considered because it might offer the patient a chance of cure. But when the same scan was analyzed using AI, the system identified 20 nodules. Suddenly, the question became more complicated. Should doctors proceed based on the three nodules identified by the radiologist? Or should they reconsider the treatment plan because AI detected 17 more? And how certain are those additional findings? “Has AI helped me? Or has AI hampered me? Only time will tell,” Ang said. Ang expects AI to significantly

ANG’S view comes from four decades in oncology. He began training in the specialty in 1986, when there were few oncologists in Singapore. He recalled a time when cancer was often viewed as a death sentence. He chose oncology because he saw an unmet need. After training at MD Anderson Cancer Center and Stanford University, he was offered a position in the United States but chose to return to Singapore. Forty years later, he has witnessed significant changes in cancer treatment. Diseases once considered hopeless can now be treated, with some patients achieving better prognoses and even cure. Yet the basic needs of patients have not changed. They need doctors who can explain what is happening, specialists who can work together, accurate information to make difficult decisions, and someone to help them navigate the uncertainty that comes with cancer. That, ultimately, is why PCC’s decision not to open satellite clinics is significant. Having a doctor physically closer to patients does not necessarily mean having the same level of care. For PCC, expanding its footprint would mean little if it could not also replicate the multidisciplinary expertise, technology, infrastructure and support system that stand behind its doctors in Singapore. As cancer care becomes more sophisticated, the technology will continue to evolve. AI will change how diseases are detected and understood, while treatments will become increasingly targeted. But cancer care, Ang’s experience suggests, will remain dependent on something technology cannot provide on its own: a coordinated team of people willing to stand behind the patient.

Policy roundtable calls for more integrated care for heart, kidney, metabolic diseases

ILLIONS of Filipinos are living with interconnected heart, kidney and metabolic conditions, often without knowing they have a disease until it has already progressed. These conditions, collectively referred to as cardio-renal-metabolic (CRM) diseases, share common risk factors and frequently occur together, creating a growing health and economic burden for patients, families and the healthcare system. The need for a more integrated approach to prevent and manage these diseases was highlighted at a recent Cardio-Renal-Metabolic Policy Roundtable convened by ACCESS Health International (AHI), together with the German-Philippine Chamber of Commerce and Industry (GPCCI) and the European Chamber of Commerce of the Philippines (ECCP), with support from Boehringer Ingelheim Philippines. The forum brought together representatives from government, healthcare organizations, patient groups, academia and the private sector, including the Philippine Health Insurance Corporation (PhilHealth), the National Kidney Transplant Institute (NKTI), the Philippine Alliance of Patient Organizations (PAPO) and the Ateneo Policy Center. Participants discussed policy opportunities to strengthen prevention, early detection, patient access and coordinated long-term care for

From dialogue to action

LEADERS and representatives from government, healthcare organizations, patient organizations, academia, and the private sector gather during the CardioRenal-Metabolic (CRM) Policy Roundtable to identify policy opportunities and strengthen integrated CRM care in the Philippines. ACCESS Health International convened the forum with the German-Philippine Chamber of Commerce and Industry (GPCCI) and the European Chamber of Commerce of the Philippines (ECCP), with support from Boehringer Ingelheim Philippines. people with interconnected chronic conditions. “Because these conditions do not exist in isolation, protecting our citizens requires investing in early primary care. PhilHealth stands firm in its commitment to expanding financial risk protection, strengthening primary care financing, and ensuring the long-term sustainability of chronic disease management,” said Atty. Eli Dino D. Santos, executive vice president and chief operating officer of PhilHealth.

A growing health and economic burden

IN the Philippines, about one in five people aged 15 and older lives with at least one chronic condition, including hypertension, chronic kidney disease

The Medical City Clark has new chief medical officer

change diagnostic radiology and pathology, where much of the work involves interpreting images and slides. But he does not see technology replacing the human side of medicine. “The one that does the real doctoring cannot be replaced,” he said, pointing to the importance of trust, care and hope in the doctor-patient relationship.

CANCER diagnosis may begin with one doctor, but increasingly, it takes an entire team to determine what happens next.

The oncologist may be the person sitting across from the patient, explaining the diagnosis and discussing treatment options. But behind that conversation is a network of specialists—radiologists interpreting scans, interventional radiologists obtaining tissue samples, pathologists examining those samples and determining the cancer’s molecular characteristics, and other experts whose findings can influence treatment. For Dr. Ang Peng Tiam, Medical Director and Senior Consultant of Parkway Cancer Centre (PCC) in Singapore, this is one of the most important realities of modern cancer care. “The care that I give, I may be the poster boy in front, but the reality of it is that behind me is a huge team,” Ang said. He explained that even a seemingly straightforward case can require several specialists. If a scan reveals a suspicious lesion, the radiologist needs to interpret it accurately. An interventional radiologist may then need to obtain a tissue sample safely, while a pathologist must determine not only whether the patient has cancer but also its specific type and molecular profile. Those results can help doctors determine whether a patient may need chemotherapy, targeted treatment or other therapies.

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(CKD), diabetes or cardiovascular disease. The economic impact is also significant. CKD alone was estimated to cost P593.7 billion in 2023, equivalent to 41 percent of the country’s total healthcare expenditure, according to data presented during the roundtable. Because CKD frequently occurs alongside other CRM conditions, the combined burden can further strain patients and the healthcare system, underscoring the need for stronger prevention, earlier diagnosis and coordinated care. “The burden of chronic kidney disease extends beyond direct healthcare costs. It affects patients’ ability to work, creates productivity losses, and impacts families and the healthcare system,” said Dr. Anthony Russell

Villanueva, consultant nephrologist at NKTI. “Understanding these costs can help inform interventions and policies that support earlier detection, prevent disease progression, and improve patient outcomes,” he added. The roundtable also highlighted the need to strengthen health information systems and disease registries, develop sustainable financing mechanisms and better integrate CRM priorities into national health policies and programs. The Department of Health (DOH) highlighted its ongoing efforts to address gaps in chronic kidney disease care and expand access to services, while PhilHealth reaffirmed its commitment to strengthening financial protection for sustainable chronic disease management.

AHI presented an assessment of CRM policy gaps and opportunities in the Philippines, while representatives from NKTI, PAPO and the Ateneo Policy Center shared insights on the economic burden of CKD and policy recommendations. Boehringer Ingelheim also provided regional perspectives on integrated CRM care across Asia-Pacific. For AHI, the discussions should lead to concrete action rather than remain a policy dialogue. “No single institution can advance integrated cardio-renal-metabolic care alone. The next step is translating evidence into action by identifying shared priorities, defining responsibilities, and sustaining collaboration across sectors,” said Dr. Rohini Omkar Prasad, regional director and director for research and advisory at AHI. “Through this dialogue, we hope to build consensus on practical steps that can help advance integrated CRM care in the Philippines,” she added. The roundtable reflects a growing recognition that heart, kidney and metabolic diseases cannot always be addressed separately. Coordinating prevention, early detection, financing and long-term management could help reduce the burden of these interconnected conditions on Filipino patients and the country’s healthcare system.

HE Medical City Clark (TMC Clark) announced the appointment of Dr. Jo Ann R. Soliven, a Vascular Neurologist and Neurocritical Care Specialist, as its new Chief Medical Officer. Dr. Soliven brings more than two decades of leadership in neurological care to the role, including prior service as TMC Clark’s Neurology Section Head, where she played a pivotal role in strengthening the hospital’s stroke and neurocritical care services. Dr. Soliven brings her expertise as Consultant Director of the Cerebrovascular and Neurocritical Care Center and Services at TMC Ortigas, where she also leads the institution’s Vascular Neurology, Neurocritical Care, and Interventional Neurology Fellowship Training Program. Dr. Soliven’s career reflects a sustained commitment to building the systems that make advanced neurological care possible at scale. Early in her career, she served as a Doctor to the Barrios, helping establish operational standards, local legislation, and community-based care delivery models.

Stroke program AT Quirino Memorial Medical Center, she built a comprehensive stroke program from the ground up, and she has since contributed to national policy as a core member of the Department of Health Technical Working Group that developed the Resource Stratification Framework for Brain Centers - a macro health system design now guiding stroke care infrastructure nationally. Her research portfolio spans endovascular thrombectomy outcomes, stroke risk scoring, and neurocritical care standards for low- and middleincome countries, including a 2025 international consensus statement published in the Journal of Critical Care. Dr. Soliven trained at Baylor College of Medicine in Houston, Texas, and served as a Visiting Scholar in Neurocritical Care at Mt. Sinai Hospital in New York. She completed her stroke fellowship at the National Neuroscience Institute - Singapore General Hospital. These years of continuous learning she now applies in her healthcare mission in the country. She is a Fellow of the Philippine Neurological Association, the Neurocritical Care Society, and the Philippine Society of Critical Care Medicine, and is the Founder and President of the Brain R.E.S.C.U.E. Organization, Philippines - a global partner of the International Neurocritical Care Society.

Life-long commitment DR. Soliven expressed her enthusiasm for the role stating that as a physician, it is her life-long commitment to help foster a healthier community for Filipinos. “I thank The Medical City for this opportunity to help put forth our mission to bring global quality healthcare more accessible for patients,” she said. The Medical City’s President and GCEO, Dr. Stuart Bennett, welcomed Dr. Soliven’s appointment as a key step in strengthening clinical leadership at The Medical City Clark. “We are honored to welcome her leadership, expertise, and vision,” said Dr. Bennett. “Under her guidance, patients in the region can expect a worldclass roster of physicians delivering exceptional, patient-centered, and accessible care for the community.”