THE Philippines should channel its efforts to solving red tape, corruption and market access issues rather than worrying over the concessions it can offer to the United States amid the recent implementation of additional tariffs by Washington, according to the top official of the Philippine Exporters Confederation Inc. (Philexport).
In an interview with reporters on the sidelines of Philippine Chamber of Commerce and Industry’s (PCCI) First General Membership Meeting, Philexport President Sergio R.
Ortiz-Luis Jr. said local exporters should work on improving market access to “the market that we are losing…China.”
“If you combine Greater China, Hong Kong, Macau, they’re more than double US and Japan. So it’s important. We should continue developing other markets,” Ortiz-Luis said.
Preliminary data from the Philippine Statistics Authority (PSA) showed that Philippine merchandise exports to the People’s Republic of China amounted to $9.44 billion while the country’s exports to Hong Kong reached $9.6 billion in 2024.
Total exports of these two econ-
omies which are included in the Greater China region amounted to $19.04 billion—outweighing the country’s exports to the United States, at $12.12 billion last year, PSA data showed.
Meanwhile, Philippine goods exports to Japan amounted to $10.33 billion last year.
The Philexport chief said this as he explained that there is no need for the country to counter the tariff moves of Washington nor offer any concessions in the middle of what he described as a “fluid” situation. He added that it’s best to “just keep quiet and watch” amid recent developments in global trade.
“We are not in a position to ne-
gotiate at this time. That’s why I find corny suggestions on what we should offer...We are not a big market. Let’s not overestimate our importance to them [the US],” OrtizLuis said, partly in Filipino.
“We’re not asking for anything because the way it is, it’s okay. We can even have opportunities. The problem is, knowing Trump, it’s still fluid. He might change his mind in some aspects,” added the Philexport chief.
Zooming in on the market access issues of the Philippines to China, Ortiz-Luis noted that Philippine exports’ market share in China declined.
“Such a decrease could be attributed to various factors, including improved fiscal management, restructuring of debt, or favorable economic conditions,” Ravelas said. Only P438 million in amortization was paid to domestic creditors compared to last year’s
billion the government settled in the same period in 2024, and one analyst said the trend could continue in the coming months, now that the Bangko Sentral ng Pilipinas (BSP) is back on an easing cycle. Lower interest rates or extended repayment terms may have contributed to the sharp decline in amortization, according to Jonathan Ravelas, senior adviser at Reyes Tacandong & Co.
By Ma. Stella F. Arnaldo
THE Bangko Sentral ng Pilipinas (BSP) is poised to deliver two more rate cuts this year, bringing the key policy rate down to 5 percent, to mark the end of the easing cycle, according to economists.
In HSBC Global Research’s latest commentary, HSBC Asean Economist Aris Dacanay said the central bank has “swung into dovishness,” quoting BSP Governor Eli M. Remolona Jr. saying there’s a “shift toward a more accommodative monetary policy stance.”
The BSP lowered the key policy rate by 25 basis points to 5.50 percent in its rate-setting meet-
ing on Thursday last week. The interest rates on the overnight deposit and lending facilities were also reduced to 5 percent and 6 percent, respectively. (See: https://businessmirror.com. ph/2025/04/11/bsp-lowerskey-rate-by-25-bps-more-cutsseen/).
With the BSP more dovish, Dacanay said the key policy rate could be brought down by 50 basis points by the end of the year. The central bank could reduce key policy rates alternately in its rate-setting meetings, lowering the policy rate by 25 basis points in August and in December.
THE Philippines Pavilion, inspired by Filipino weaving traditions, officially opens at the Expo Osaka 2025. Designed by Carlo Calma Consultancy, the Pavilion was constructed using over 1,000 rattan threads and features 212 handwoven panels; it was listed among the “top 20 most awaited pavilions” by an architecture and graphic design portal. The Expo Osaka 2025 opened on April 13 and will last until October 13, 2025. COURTESY TPB
ADB…
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development and climate action into national and regional development plans.
The Philippines should also establish more marine protected areas and enhance its management to restore fisheries resources, protect biodiversity, as well as empower local communities to participate in conservation efforts.
Implementing science-based regulations, promoting responsible aquaculture and improving monitoring systems will also ensure the longterm sustainability of the country’s fisheries.
To combat marine plastic pollution, the government should also strengthen the enforcement of the Extended Producer Responsibility Act, as well as improve data collection on plastic waste flows and support circular economy efforts and public-private partnerships.
Moreover, diversifying the blue economy through investments in marine biotechnology, offshore renewable energy and ecotourism—alongside support for research—can drive the Philippines’ competitiveness in the global blue economy.
Creating an interagency Blue Economy Council will also improve coordination among national and local governments, as well as private stakeholders, for more effective policy implementation.
“The Philippines has a unique opportunity to develop a sustainable blue economy that balances economic growth with ecological protection,” ADB said.
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Based on the calendar of monetary policy meetings, the BSP’s Monetary Board still has four more meetings left—on June 19, August 28, October 9 and December 11.
However, Dacanay said the BSP will likely employ a “very cautious approach” when lowering the policy rate due to the “large degree of uncertainty” in global trade policy and, interrelatedly, the risk of foreign exchange volatility.
ANZ Research weighs in MEANWHILE , Australia-based think tank ANZ Research expects the BSP will cut rates in the third and fourth quarters by 25 basis points each quarter. “We forecast the terminal rate at 5.00 percent by the end of 2025.”
“Given the significant improvement in the inflation outlook and the downside risks to growth, we are bringing our policy rate cut forecasts forward,” ANZ Research economists
Debt…
from A1
P243.763 billion. External sources were also given P5.346 billion, down by 93.83 percent year-on-year from P86.702 billion.
Easing cycle
THE recent drop in amortization could continue in the coming months, now that the Bangko Sentral ng Pilipinas (BSP) is on an easing cycle again, Ravelas said. The BSP resumed its easing cycle on Thursday last week, reducing the key policy rate by 25 basis points to 5.50 percent.
However, Ravelas said this would depend on the
Arindam Chakraborty and Sanjay Mathur said.
The think tank cited Remolona saying that the current policy rate is “slightly restrictive” and that there is still some room to cut without stoking inflation.
Remolona has also mentioned that the easing cycle is likely to end in 2025.
“The BSP is now seeing a decline in uncertainty in global trade policy compared to the previous meeting.
The comparatively lower tariff on US imports from the Philippines and the recent 90-day postponement of the same have provided clarity on the growth outlook,” ANZ Research said.
While some economists were also dovish in their outlook, Metrobank Research forecasts the key policy rate to settle at 5.25 percent by the end of 2025.
“We expect one more similar-sized cut this year, which will bring the target reverse repurchase rate to 5.25 percent by year-end,” Metrobank said.
However, the weak economic growth could provide room for the BSP to “squeeze in” an additional
developments from “disTRUMPtion” or disruptions tied to United States President Donald Trump’s trade policies.
“Volatility in United States treasuries could influence the direction of the greenback and the secondary effects of tariffs to inflation and currency volatility could limit rate cuts,” Ravelas said.
Meanwhile, interest payments grew to P152.880 billion in the two-month period. This increased by 25.26 percent from the P122.048 billion posted in the same period in 2024.
A total of P114.353 billion was cleared to domestic lenders, marking a 37.48-percent increase yearon-year from P83.173 billion.
This amount covered debt repayments consisting of P84.414 billion for fixed-rate Treasury bonds, P20.447 billion for retail Treasury bonds, P7.657
25-basis-point rate reduction toward the end of the year.
“Imported inflation could emerge as the trade war between the US and the rest of the world escalates. Potentially higher global commodity prices could seep through to the domestic market,” Metrobank said.
Due to Donald Trump’s 17-percent reciprocal tariffs on Philippine exports, which are lower than those for other Asean countries, Metrobank said the country is provided some leverage to remain relatively competitive.
Despite the upside risks, inflation will remain within the government’s target of 2 to 4 percent throughout most of the year and will settle at 3 percent in 2025.
“Given current projections of ‘target-consistent’ inflation and the outlook of a fragile global economy, the BSP will likely continue easing monetary conditions while maintaining a cautious approach as markets brace for the
billion for Treasury bills and P1.835 billion for other obligations.
The government also disbursed P38.527 billion to external financiers, only 0.89 percent lower than the P38.875 billion during the same period in 2024.
Feb debt payments
FOR the month of February, the government settled a total of P52.154 billion. This sharply plummeted by 82.23 percent from the P293.615 billion debt payments in the same month a year ago.
The decline was due to the 98-percent decrease in amortization, which only amounted to P3.709 billion from the P245.788 billion last year.
While the payment of amortization to domestic lenders shrank by 98 percent year-onyear to P121 million, external sources were paid P3.588 billion, up by 65.88 percent. Interest payments, meanwhile, amounted to P48.445 billion, 1.29 percent higher than
Focus…
“Tourism, investment, and exports went down. Take our banana alone. It went to Vietnam. Nagrereact sila binigyan tayo ng mga nontariff barriers. Kwinestiyon yung mga ano natin, malaki nawala doon. Investments in 2023, before 2023, ang laki ng pumapasok na investments from China. Naubos nung 2023 lumiliit pa. So we’re throwing away China and not recovering enough from other markets that’s why in investments, we are trailing our neighbors,” added the head of the umbrella organization of Philippine exporters.
PSA data showed that the Philippines’s export earnings to China plunged by 13.6 percent to $9.44 billion in 2024 from the $10.93 billion recorded in 2023.
Meanwhile, China remains to be the Philippines’s top source of goods, with imports from the economic pow-
impacts of the trade war instigated by Trump,” Metrobank said.
Dacanay said the weaker global growth, wider real policy rate gap between the BSP and the US Federal Reserve, and strong financial inflows provide the BSP leeway to cut policy rates.
“Not only is the Philippines relatively insulated from the risk of reciprocal tariffs [due to its trade balance with the US], the country’s domestic economy is also very robust,” Dacanay said.
“If foreign investors demand Philippine assets to insulate themselves from global financial market volatility, the Peso might exhibit resilience, which, in turn, could give the BSP room to cut policy rates faster or more than the Fed,” Dacanay added.
For next year, the key policy rate could further be reduced by a total of 75 basis points, bringing the target RRP to 4.50 percent by end-2026, according to Metrobank. Reine Juvierre S. Alberto
the P47.827 billion recorded last year.
The government handed over P42.067 billion and P6.378 billion, respectively, to domestic and foreign moneylenders.
“It’s a positive indicator of the government’s ability to manage its debt more effectively, potentially freeing up resources for other critical areas such as infrastructure, healthcare and education,” Ravelas said.
This year, the national government’s debt service is expected to reach P2.051 trillion. About P1.203 trillion will cover amortization, while P848.031 billion will go to interest payments.
Last year, the government settled a record P2.020 trillion in liabilities, as debt servicing increased by 26 percent from P1.603 trillion in 2023.
The government’s outstanding debt posted a new record high of P16.632 trillion as of end-February 2025, 9.57 percent higher than the P15.178 trillion recorded during the same period a year ago.
erhouse amounting to $32.81 billion in 2024, up 11.6 percent compared to the $29.39 billion recorded in 2023.
Domestic issues
APART from these market access issues, Ortiz-Luis highlighted the country’s domestic issues such as red tape and corruption, which he said have continuously hampered the competitiveness of local exporters.
Even with lower tariff rates in the Philippines compared to its Asean neighbors, he emphasized that it might not be enough to stamp out corruption, red tape and political issues.
“But even with a lower tariff here, it might not be enough to counter the corruption issues, red tape and political issues. That’s the worst. So why should they invest here? That’s the problem,” added Ortiz-Luis.
Meanwhile, he explained that “Corruption affects [exporters] because DTI has no budget. Exporters don’t have a budget. Why? Because they’re losing out on corruption. Without the corruption, the budget [for exporters] should be bigger.”
the international acclaimed Masungi GeoReserve, saying the government needs allies to protect the Sierra Madre, a key mountain range crucial to biodiversity in Luzon.
In her opening statement at the hearing, DENR Secretary Maria Antonia Yulo-Loyzaga maintained that the area in question, which straddles three protected areas—Presidential Proclamation 1636, the Kaliwa Watershed, and the Upper Marikina River Basin Protected Landscape—is one of over 200 protected areas nationwide and it is subject to the same legal framework that governs all protected areas: the NIPAS Act as amended, which requires all activities within these areas to be approved by the Protected Area Management Boards, or PAMBs, and to be covered by Special Use Agreement for Protected Areas areas or SAPAs.
“Everyone must comply with the law. Our approach to conservation is multisectoral. We must engage all stakeholders, government agencies, the legislature, local governments, the private sector, academia, civil society, and our indigenous peoples. Conservation is a shared responsibility. This is among the pillars of environmental conservation that this legislature has with the passage of the NIPAS and ENIPAS laws,” she said.
Risa’s advice AT the hearing on Friday, Deputy Minority Leader Risa Hontiveros urged the DENR to negotiate fully with the private group running
“We plan to organize several familiarization trips for Korean travel agents and media,” in particular, focusing on Dive familiarization trips. “We will continue to participate in the Korean Underwater Sports Expo as interest in diving among Koreans is increasing as evidenced by the 300-percent increase in sales leads in 2025 [during said expo in March] compared to 2024.”
The TPB is also working on upgrading its Korean website “to better connect with our audience,” she added. The TPB is the marketing arm of the Department of Tourism (DOT) and oversees the promotions of the Philippines in 13 key markets, which include South Korea and the US. Joint promos with carriers NOGRALES disclosed that the TPB has “revisited” its work program this year and prioritized specific projects recommended by the DOT Overseas Office. “In particular, we aim to invest in joint promotions with airlines and travel agents to attract more visitors to the country.” Also, follow-up activities will be implemented under its Celebrity Tourism Ambassador program, and with more Korean stars “who have reached out, eager to promote the Philippines particularly featuring beach, dive, wellness, adventure and golf,” she said. South Korean singer-songwriter and actor Seo In Guk was recently named a Tourism Ambassador for the Philippines. In the first quarter of the year, visitors from South Korea fell by almost 14 percent to 395,059 versus the same period in 2024, as the weakening of the Won, due to the country’s political turmoil, kept its citizens at home. This, along with the continued sluggish arrivals from China, are the reasons a major real estate brokerage firm has projected inbound tourists this year to remain unchanged at 6 million. (See, “Foreign tourist arrivals stay unchanged at 6 million for 2025” in the BusinessMirror, April 9, 2025.) As for the US market, Nograles said, “We are also committed to supporting initiatives that cater to overseas Filipinos from America as we are coordinating with the Department of Foreign Affairs [DFA] to develop a program similar to the VIP Tour that targets second-generation Filipinos.” The DFA is a member of the TPB Board. Targeting younger Fil-Ams THE Very Important Pinoy (VIP) Tour, which the DFA began in 2005, is implemented through the latter’s foreign service offices in the US and targets Fil-Ams, to encourage them to visit and explore the homeland with their extended families and friends. This year, it has a separate tour specific to “next-generation” Filipino-Ams. Nograles said, on top of these, the TPB will be participating in key events in the US this year such as the US Tour Operators Association Annual Conference and Marketplace (Dec. 1-5), The American Society of Travel Advisors Travel Advisor Conference (May 20-22), and The Diving Equipment and Marketing Association Show (Nov. 11-14).
“We’ll also be conducting more familiarization tours with US travel agents and key personalities,” she added.
Local tourism stakeholders have expressed apprehension over the recent crackdown by the US Customs Border and Patrol and Immigration and Customs Enforcement on permanent residents in the US which may hinder Fil-Ams from visiting the Philippines. Fil-Am visitors increased to 128,772 in 2024 from just 44,422 in 2019. (See, “‘ICE detentions to have chilling effect on travel of Fil-Ams to PHL’,” in the BusinessMirror, April 10, 2025.).
“The government needs more, not less, allies in preserving the Sierra Madre—a critical buffer that keeps Metro Manila safe from the onslaught of floods,” Senator Risa said in her opening remarks as the Senate Blue Ribbon Committee opened an inquiry onto DENR’s move two weeks ago to cancel a long-standing contract with Blue Star Construction and its allied foundation behind Masungi.
“I really hope that the Department of Environment and Natural Resources [DENR] will finally undertake face-to face negotiations, and ensure that all issues involving Masungi are resolved in favor of continued—if not expanded—cooperation with organizations devoted to the protection and growth of this ark of biodiversity.
“Masungi Georeserve, for many years now, has shown that conservation and development in our green spaces is possible. Its many awards are a testament to this.”
The senator stressed: “Let us not lose sight of the main agenda: the reforestation of our forests and the protection of our critical natural assets—to which Masungi, in spite of the legal issues, has contributed greatly.”
Finally, she reminded everyone that “Sierra Madre, have repeatedly saved Metro Manila from killer floods. By protecting Masungi, we protect our lives and communities too.” With Butch Fernandez
criminatory and open global trading system,” the statement of support noted.
“In the face of mounting challenges, including disruptions in global supply chains, rising protectionism and climate change, our collective commitment to the WTO principles and the maintenance of trade openness is more crucial than ever,” they also underscored. They highlighted the importance of “effective settlement” of trade disputes amid the recent developments in the global trade arena.
“Strong rules facilitate the effective settlement of trade disputes and serve as a bulwark against protectionism and unfair practice. We also recognize the importance of plurilateral initiatives at the WTO,which have been vital in driving concrete progress in key areas of trade,” the 39 members emphasized.
“We call on Members to act and take decisions in an outcome-oriented way and to undertake bold, collective action that reflects the changing dynamics of the global economy and responds to the challenges ahead,” the statement of the 39 nations noted.
“This would ensure that the WTO remains the bedrock of a free, fair, inclusive, sustainable, and rules-based multilateral trading system for generations to come,” they added. Andrea E. San Juan
www.businessmirror.com.ph
DOJ upholds prohibition on flavored vapor products
laws,” Remulla said.
TBy Joel R. San Juan
@jrsanjuan1573
HE Department of Justice
(DOJ) has ruled that the prohibition of flavors in vapor products under Republic Act 11467 or the 6 Tax Reform Law remains in effect despite the passage and implementation of Republic Act 11900 or the Vaporized Nicotine and Non-Nicotine Products Regulation Act.
“flavor descriptors.”
Likewise, Herbosa pointed out that Section 29 of R.A. 11900 indicates that laws inconsistent with it are repealed, amended or modified accordingly.
Pangilinan to Comelec: Ask FB, TikTok to suspend troll account
By Butch Fernandez
@butchfBM & Ada Pelonia @adapelonia
The DOJ held that both laws intend to regulate the sale and distribution of vapor products which include vaporized nicotine or non-nicotine products.
Likewise, the DOJ said RA 11900 merely provided for specific guidelines in the marketing of such goods and did not in any way repeal the provisions of RA 11467 on flavor ban.
“The prohibition proscribed in the earlier law pertains to vapor products itself while that of the later law regulates the packaging, label, presentation or marketing of the same, we can therefore harmonize the provisions of the two
In a four-page legal opinion, Justice Secretary Jesus Crispin Remulla stressed that the provisions of RA 11467 and RA 11900 were not inconsistent with each other with regard to the regulation of flavor for vapor products. RA 11467 was signed into law by former President Rodrigo Duterte in 2020 while RA 11900 lapsed into law in 2022.
“Seeing that there seems to be no inconsistencies between the two laws and there is no clear intent on the part of the legislature to repeal RA 11467, both laws shall be applied appropriately,” the DOJ secretary added.
The legal opinion stemmed from the request of Health Secretary Teodoro Herbosa who wrote the DOJ seeking guidance on the regulation of flavor for vapor products under RA 11467 and RA 11900.
In his letter-request, Herbosa noted that RA 11467 prohibits flavors in vapor products other than plain tobacco or plain menthol.
On the other hand, RA 11900 addresses the prohibition of
DOH activates Code White Alert for Holy Week
THE Department of Health (DOH) on Sunday activat -
ed Code White Alert for the entire Holy Week as part of its preparations for any healthrelated incidents that may arise as the people usually take advantage of the long weekend to to to the provinces, visit churches, or engage in domestic tourism.
Health Secretary Teodoro Herbosa said that the Code White Alert will be in effect from Palm Sunday, April 13 to Eastern Sunday, April 20. When Code White Alert is declared, all medical personnel in government hospitals, particularly
those assigned to emergency rooms and critical care units, are reqired to be on duty for a potential increase in patient volume owing to accidents, injuries, or other health-related incidents that may occur.
The DOH usually declares a Code White Alert during national events, holidays, or celebrations
Thus, Herbosa sought the DOJ’s legal opinion on whether the prohibition flavor descriptors under RA 11900 is inconsistent with the flavor ban outlined in RA 11467.
“While the two laws pertain to different subjects, that is, the levy and assessment of taxes on vapor products and the regulation of vaporized nicotine and non-nicotine products, we do not perceive the provisions in questions to be contradictory as they relate to the same subject,” the DOJ stressed.
It explained that the guidelines set out under RA 11900 for the advertisement of vaporized and non-vaporized nicotine products complements the prohibition under RA 11467 on the manufacture, importation, sale and distribution of flavored products other than plain tobacco or plain menthol.
that can potentially cause mass casualty incidents or emergencies to ensure the readiness of government health facilities and personnel.
Herbosa advised the public to remain vigilant and take necessary precautions to ensure a safe and healthy observance of Holy Week. Let’s be alert while on the road,
FORMER senator and senatorial candidate Francis Pangilinan is asking the Commission on Elections (Comelec) to cooperate with social media giants Meta (Facebook), TikTok, YouTube, and many others in deactivating or suspending troll accounts for the duration of the campaign.
This after Pangilinan was targeted by what he called an “orchestrated” and “well-funded” disinformation campaign regarding a viral food blog, where he was seen eating rice and carabao milk from a pot cover.
Pangilinan argued that the laughing reactions from Vietnamese-sounding accounts left on the video are proof that there were people behind the smear campaign against him.
‘Regulate social media platforms’
AT the same time, lawmaker urged the need to regulate social media platforms if their internal policies fall short in curbing the spread of fake news.
House of Representatives Assistant Majority Leader Zia Alonto Adiong made the statement following a hearing of the House Tri Committee on the proliferation of fake news and disinformation online.
“Kailangan din natin magkaroon ng
regulation sapag-operate nitongmgasocial media platforms, itongmga creators, itong mga operators naitobecause they have the full access and control of their algorithms,” Adiong said in a statement.
In particular, he noted that Meta, the company behind social media giant Facebook, has policies in place that are not enough.
“Iyong policy... ang internal policy nila kasi, for me, does not work to really safeguard their platforms from becoming the space to generate fake information and fake news,” Adiong said. He stressed that the issue is global and that the Philippines should follow the lead of other countries, citing Singapore’s Protection from Online Falsehoods and Manipulation Act.
“If their internal policy is not sufficient then the government has to step in. Hindi lang ho ito bago sa mundo. There are a lot of countries who also regulate the operation of social media platforms and operators like Meta,” Adiong, who represents Lanao del Sur, said.
“In fact, in Singapore, the government has already adopted and approved the Protection from Online Falsehoods and Manipulation Act. Singapore is one of the most progressive countries in Southeast Asia. So if they can do it, why can’t we?” Adiong called for legislation that not only targets fake content but also controls how it spreads online.
“Ako ay naniniwala na, dapat kung
could hit 20.46 MMT
harvest in 2025–Philrice
TLibanan: PHL should aim to be top Asean manufacturing hub amid US tariff hikes
HOUSE of Representatives
Minority Leader Marcelino
trade partners to allow for negotiation.
By Ada Pelonia @adapelonia
HE Philippines could hit the 20.46 million metric tons (MMT) target palay harvest this year, the Philippine Rice Research Institute (PhilRice) said.
Flordeliza Bordey, PhilRice Deputy Executive Director For Special Concerns, expressed confidence that the country could again breach the 20-MMT mark for unmilled rice output given the government’s support and favorable weather conditions.
we can rebound from that slump,” Bordey told the BusinessMirror.
“Given the additional support with less problem on weather, we are optimistic that we can hit the 20.4 million [metric] tons this year,” she said.
However, she noted that certain factors could hinder the rice sector from achieving its palay target, with the overarching concern rooted on weather conditions.
‘No effect’ EARLIER, the Philippine Statistics Authority’s (PSA) labor force survey showed that among the sectors that recorded the biggest drops in employment were in agriculture and forestry, which was down by 949,000 workers.
Libanan on Sunday said the Philippines stands to gain from the latest round of US reciprocal tariffs, highlighting the country’s potential to become a preferred manufacturing base for US-bound goods.
Libanan described the development as a “huge silver lining” in US President Donald Trump’s April 2 announcement of sweeping new tariffs on imports. While tariffs were initially set at high rates for many countries, the Philippines was assigned a comparatively moderate 17 percent rate.
“This window allows the Philippines to push for even lower rates than the initial 17 percent,” Libanan added. “Our government should maximize this opening.” Libanan pointed out that the Philippines’ initial 17 percent rate is far lower than those slapped on key East Asian economies: Taiwan, 32 percent; South Korea, 25 percent; Japan, 24 percent; and China, 54 percent, rising to 125 percent by April 9.
This, after the Philippines’ palay output stood at 19.09 MMT in 2024 owing to the dry spell and successive typhoons that wrought havoc on local plantations. This figure was lower than the record harvest of 20.06 MMT in 2023.
The Philippines remains to be at the mercy of unpredictable weather that could disrupt harvest, with the country often beset with an average of 20 typhoons annually.
“We are hoping that with normalization of weather, and with all the government support that we are pouring in the sector right now, we are on a positive note that
“But things are on a positive note, with the state weather bureau saying just a few weeks ago that the La Niña alert is being averted. So, we are hoping that it will be a good year for us,” she said.
Despite this, Bordey said this would not hinder the country from its aim to reach the palay output target this year.
“As the government is giving more support to the mechanization program, then it actually improves the labor productivity,” she said.
“That means you only need less labor and use of more machines in doing the rice activities at the field level. So, on that aspect, I think the loss of jobs will not affect that much.”
Work on longest road mountain tunnel on track
THE Department of Public Works and Highways (DPWH) said on Sunday that it is pushing forward with the completion of the Philippines’ longest road mountain tunnel—a 2.3-kilometer twin-tube structure that will soon serve as a key component of the Davao City Bypass Construction Project (DCBCP).
“This places the Philippines in a uniquely advantageous position,” Libanan said.
“We’re looking at a rare opportunity to position ourselves as a low-cost, reliable export hub for the US market—especially in semiconductors and electronics.” He noted that in a significant turn of events, Trump has since deferred the full implementation of the new tariff rates for 90 days, applying a temporary across-theboard 10 percent tariff on most
Among Association of Southeast Asian Nations (Asean) members, only Singapore fares better with a 10 percent rate with Vietnam, 46 percent; Cambodia, 49 percent; Thailand, 36 percent; Malaysia, 24 percent; Indonesia, 32 percent; Brunei, 24 percent; Myanmar, 44 percent; and Laos, 48 percent.
“These numbers show why multinational manufacturers may seriously consider relocating operations to the Philippines,” Libanan said. “We are a compelling alternative amid this global recalibration.”
Butch Fernandez
Beza aligns projects with updated PPP Code
By Bless Aubrey Ogerio
“The DCBCP has recently completed a major milestone, as the north and south portal ends of the northbound tunnel were finally connected,” Public Works Senior Undersecretary Emil K. Sadain said. He noted that excavation on the southbound tunnel is also nearing completion at 91 percent, with only 202 meters remaining. The tunnel, built through challenging mountainous terrain, is designed to offer motorists a faster and safer alternative route, easing congestion in downtown Davao City while improving connectivity between major growth hubs in the region.
City to barangay J.P. Laurel in Panabo City.
Once operational, it is expected to cut travel time between these points from one hour and 44 minutes to just 49 minutes—dramatically improving logistics and mobility across the Davao Region and parts of Mindanao.
Financed through a partnership between the Japanese government through the Japan International Cooperation Agency (Jica) and local government funding, the DCBCP will link barangay Sirawan in Toril, Davao
The construction of the tunnel falls under Contract Package (CP) I-1, a 10.7-kilometer segment being undertaken by the ShimizuUlticon-Takenaka joint venture, which has reached 58.7 percent completion.
Progress is also underway on other segments of the bypass
road. Under CP II-1, 72.83 percent of work has been completed for a 2.54-kilometer stretch that includes a 1.3-kilometer road and seven bridges, with completion eyed in the first quarter of 2026.
CP II-2, spanning 3.52 kilometers, is 63.89 percent complete and is set to finish by the third quarter of 2026. Both packages are locally funded with a combined value of nearly P9 billion.
Other segments under CP I-2 and I-3 are moving steadily, while procurement activities for CP II-3 are expected to begin “soon.”
Lorenz S. Marasigan
PAV hails DOH for refusal to accept donations from tobacco industry
By Claudeth Mocon-Ciriaco
@claudethmc3
PARENTS Against Vape (PAV) on Thursday lauded the Department of Health (DOH) for continuously rejecting all proposed donations by the tobacco industry, making the agency free from any vested interests that could jeopardize public health, especially the health of the children.
“If DOH will accept donations [from the tobacco industry] it may be construed as approving and promoting the use of tobacco or vape,” PAV said.
Moreover, PAV said, the acceptance of donations from the tobacco industry contravenes commitments under the World Health Organization Framework Convention on Tobacco Control (WHO FCTC), which seeks to protect public health policies from commercial and other vested interests of the tobacco industry.
“Article 5.3 of the WHO FCTC
states that parties shall act to protect public health policies from the interests of the tobacco industry, a principle that should guide all national policies and regulations,” PAV added.
Critical challenge
THE DOH recognizes and expresses its gratitude to their allies who continually remind them of the perils of tobacco and vape, “and who are aware of the legal mandate and scope of the Department,” the agency said.
“We are saddened that some may have fallen victim to industry tactics of divide and conquer,” the DOH said in a statement, stressing that nicotine addiction from tobacco products remains a critical public health challenge in the Philippines.
The DOH has expressed alarm by the rising prevalence of adult tobacco and vape use, as evidenced by the 2023 National Nutrition Survey which reported an increase from 19 percent in 2021 to 24.4 percent among adults aged 20 to 59.
The DOH emphasizes that tobacco use is a major risk factor for cardiovascular and respiratory diseases. Globally, the World Health Organization (WHO) estimates over 8 million annual deaths attributable to tobacco.
In the Philippines, data from the Philippine Statistics Authority for 2023 and 2024 indicate that the top three causes of death—heart attacks, cancer, and strokes—are all linked to tobacco use.
Beyond its association with the top three causes of death, cigarette smoking is also linked to a range of other serious health conditions.
These include lung diseases such as chronic obstructive pulmonary disease (COPD), Type 2 Diabetes Mellitus, and harmful reproductive health effects.
In addition, smoking contributes to other diseases, including certain eye disorders and immune system problems like rheumatoid arthritis.
Furthermore, the DOH emphasizes the dangers of secondhand smoke
exposure, which is known to cause coronary heart disease, stroke, and lung cancer in adults, and increases the risk of respiratory and ear infections, asthma attacks, and sudden infant death syndrome (SIDS) in children.
Evali
VAPES and vapor products also pose significant health risks including e-cigarette or vapor product associated lung injury (Evali), nicotine addiction, and respiratory and cardiovascular diseases, among others, DOH said.
The Philippines has already recorded and published its first case of Evali-related death in a 22-year-old athletic male who had no history of smoking or other vices, but started vaping at an early age.
Beyond its policy achievements with the Sin Tax and Graphic Health Warnings, the DOH also urges users of tobacco and vape products to make use of its quitline (1558) and other smoking cessation services.
THE Bangsamoro Economic Zone Authority (BEZA) is aligning its infrastructure plans with the updated legal framework under the new PublicPrivate Partnership (PPP) Code, as it explores private-sector financing to support development in the region.
PPP Center said that Republic Act 11966, or the PPP Code of the Philippines, streamlines processes for both solicited and unsolicited projects, clarifies risk-sharing arrangements and strengthens institutional coordination to attract more private investments in public infrastructure.
The law’s implementing rules and regulations (IRR) also outline standardized approval timelines, updated
project thresholds, and provisions to encourage local government and regional involvement, including in autonomous areas like the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
Beza executive director Sukarno Abas said the agency is currently developing a business proposal that will follow the PPP framework, as part of efforts to fund the improvement and expansion of economic zones in the autonomous region. He noted that the agency is assessing which mechanisms under the new Code best suit its priority projects.
Beza is a corporate body attached to BARMM’s Ministry of Trade, Investment, and Tourism, mandated to manage and develop economic zones in the region.
Continued from A3
especially that many people will be traveling. Let’s also be careful of the effect of the intense heat on our bodies. Heat stroke can be avoided if we don’t stay under the
sun for too long and if we always drink water.”
na tuloy-tuloy na naka - antabay at magbibigay ng healthcare services s a mangangailangan nito ngayong darating na Semana Santa,” he added. Claudeth Mocon-Ciriaco Trolls. . .
Continued from A3 DOH. .
nais nating magkaroon talaga ng mas magandang panukalang batas na magreregulate sa traffic sa online and online spaces ng discourse, hindi lang natin ireregulate at mag-set ng standard kung ano dapat ang nababasa, naririnig ng ating publiko,butiyongparaankungpaanonila ito ma-upload,” Adiong said.
He noted that social media platforms must be held accountable. But for them to become part of the solution, he said the government must take the lead.
“So it’s very important that the operators of this platform, social media platforms also needs to be part of this solution. And by becoming part of the solution, the government really has to step in and probably the Congress needs to pass a bill in regulating this fake news,” he said.
“We encourage everyone to observe the Holy Week responsibly. Magpunta po sa mga DOH hospitals
Pangilinan’s woes
“MAYBE Comelec can call, sit down with Meta, sit down with TikTok and come up with a Memorandum of Agreement of some sorts so that between now and election day that there will be coordination and cooperation in addressing disinformation, bashing, and trolling online,” Pangilinan added.
In a food blog collaboration with social media personality Romeo Catacutan, the former senator was seen joining a “boodle
fight” in Pampanga province. In one video, Catacutan was heard asking someone to hand Pangilinan a pot cover so he could eat the rice and carabao milk properly.
“Sana may mangyari doon. Chairman [George] Garcia, we hope out appeal for coordination and cooperation between the social media platforms and the giants of digital media and the Commission on Elections in combating disinformation is heeded,” he added.
Editor: Angel R. Calso
US-China trade war intensifies: 145% tariffs threaten to decouple economies
By Huizhong Wu & Didi Tang The Associated Press
WHEN the first two rounds of 10% tariffs hit, Zou Guoqing, a Chinese exporter, groaned but didn’t find the barriers insurmountable. He gave up some of his profits and offered his client, a snow-bike factory in Nebraska, price cuts ranging from 5% to 10%. It seemed to work: The factory agreed to a new order of molds and parts.
But when President Donald Trump announced an additional 34% universal tariff on Chinese goods on April 2, Zou, who’s been exporting to the US for more than a decade, was incredulous.
“There’s not a thread of feasibility,” said Zou, who does business in the eastern Chinese city of Ningbo. “It looks like I would have no choice but give up trading with the US.”
Then came 50% more from Trump, followed by another hike — pushing the universal tariff on Chinese goods to the sky-high 145 percent, and Zou said he now could only hope that the two leaders can communicate. “We are pausing the shipments,” he said, “until the leaders talk.”
The 145 percent tariff from the United States and the retaliatory 125 percent tariff from China are putting businesses doing trade between the US and China on edge. They’re fretting not only about their next orders, but also the viability of their business if there’s no quick relief. Experts are worried the decades-long trade ties that have underpinned the relationship between the world’s two largest economies could be unraveling.
Trade ties are tested
IF the high tariff is sustained for the next six months or longer, “that would actually lead to a real effective decoupling between the American and Chinese economies,” said Chen Zhiwu, professor of finance at Hong Kong University Business School.
Josh Lipsky, senior director of the Atlantic Council’s GeoEconomics Center, said the sky-high tariff, if kept in place, amounts to “almost a trade embargo,” making it impossible for China to export low-value items such as apparel to the US. It also would force US businesses to source elsewhere, away from China, if there should be alternatives, he said.
In a turn, the Trump administration late Friday said it would exclude electronics like smartphones and laptops from reciprocal tariffs, which means they won’t be subject to the 145 percent tariffs levied on China. The exemption seemed to reflect Trump’s
realization that his China tariffs are unlikely to shift more manufacturing of smartphones, computers and other gadgets to the US any time soon.
In China, the central tariff office flat-out declared there was “no possibility for market acceptance” of US goods exported to China” at the current tariff level.
“Everyone’s pretty worried,” said Hu Jianlong, founder of Brands Factory, a consultancy that works with Chinese companies trying to break into overseas markets. “At this point in time, there’s no good way forward. This situation has not resolved ... there’s no final number. And so, everyone’s still waiting to see how this will develop.”
The high-stakes tariff war has come more than 20 years after China—with the help of the United States—joined the World Trade Organization and began to see its economy soar on luring foreign investments and exporting to the US and other Western markets. By last year, China-US trade was $582 billion, but tensions have flared over China’s widening trade imbalance with the US. That led to the first tariff skirmish during the first Trump term.
The trade deficit has since narrowed but stayed stubbornly high, at a time when the US and other Western markets have also grown concerned about another onslaught of Chinese products such as electric vehicles.
Decouple or ‘de-risk’?
DURING his four-year term, former President Joe Biden stressed that the US was not trying to decouple from China but to “de-risk.” He took the “small-yard, high-fence” approach, under which his administration put up barriers in targeted sectors such as advanced chips, artificial intelligence and quantum computing that have national security implications.
Now, Trump is declaring universal tariffs on Chinese goods but has said he’s also willing to talk with Beijing. It remains unclear what his goals might be.
“What are they looking for in those negotiations? How much is
it possible to reduce these tariffs? What are the other demands apart from China removing its retaliatory tariffs that the United States wants to put forward. We don’t know what that would be,” said Greta Peisch, who served as the general counsel for the Office of the US Trade Representative in 2021-2024.
The message from China’s leadership is loud and clear. It will talk only when the US stops “maximum pressure and capricious and destructive behavior,” said Lin Jian, a Chinese Foreign Ministry spokesperson.
Li Cheng, professor of political science at the University of Hong Kong, said the Chinese leadership is upset over being singled out by Trump when the US president paused reciprocal tariffs for 90 days for all other countries. Beijing wants to make sure that “Donald Trump not state one thing in the morning and say other things in the evening,” Li said, and that Trump’s policies on China are not hijacked by his anti-China, hawkish advisers.
With no leadership-level negotiations in the immediate future, businesses are exploring their options.
Lisa Li, who works in sales for an athletic wear manufacturer in the northern Chinese province of Hebei, said her business was negotiating with clients over whether they could split the increased costs. It’s too early to say if her company is to give up on the US market, she said, but it will “definitely expand other avenues for sales,” such as in Australia or Europe.
Differing views, but optimism is sagging IN the eastern Chinese city of Wenzhou, a manufacturing hub, a holiday lights maker was less optimistic. Bo, who shared only his surname out of concern for retaliation, said he could “only give up” if the tariff hikes were here to stay because other markets might not work.
“In the past few years, the European market has been in a slump,” Bo
said. “So, we had wanted to try and develop our business in the United States.”
In Hong Kong, Danny Lau, who runs an aluminum-coating factory in the nearby southern Chinese city of Dongguan, said one of his US clients would keep buying from him for an ongoing project but was unsure about the next project. Another client told Lau that the chances are slim to strike a deal when tariffs are so high. Lau has been exploring other markets, but he says it’s not easy because some may find his high-quality products too expensive.
At a port in the Chinese city of Shanghai, ships heading to the US had almost vanished by Thursday, the day after Trump’s tariff on China took effect, according to a report by the financial news site Caixin. Major shipping lines were drastically cutting back on trans-Pacific routes, the report said.
For the longer term, the tariff war is likely to prompt Chinese businesses to diversify their supply chains and move part of their manufacturing capacity outside of China, and even to the United States, said Hu, the consultant.
Some might follow in the footsteps of the Tianjin steelmaking business, which gave up trading with the US after both Trump and Biden raised tariffs on Chinese steel. “The best plan is to not come into contact,” said David Yu, who works in the company’s foreign sales department.
However, not everyone is ready to give up on the US market. Zou, the exporter in Ningbo, describes the US market as “reliable and without finicky demands.”
“It’s the best market on Earth,” he said. “I am waiting for the rainbow after the storm.”
Wu reported from Bangkok and Tang from Washington. AP researcher Shihuan Chen in Beijing and writer Kanis Leung in Hong Kong contributed to this report.
Radicalization of minors online: Disturbing trend across Europe
By John Leicester The Associated Press
and of right and wrong that “it will take years and years of work to enable this kid to recover normal bearings.” The prosecutor believes that left unstopped, the boy was on a trajectory to possibly becoming a “completely dehumanized soldier” who risked joining the ranks of digitally radicalized teenagers in France and beyond who are hatching terror plots
Trump administration says it will exclude some electronics from reciprocal tariffs
By Mae Anderson & Michael Liedtke The Associated Press
ASHVILLE, Tenn.—The
NTrump administration late Friday said it would exclude electronics like smartphones and laptops from reciprocal tariffs, a move that could help keep the prices down for popular consumer electronics that aren’t usually made in the US. It would also benefit big tech companies like Apple and Samsung and chip makers like Nvidia, setting the stage for a likely tech stock rally on Monday.
US Customs and Border Protection said items like smartphones, laptops, hard drives, flat-panel monitors and some chips would qualify for the exemption. Machines used to make semiconductors are excluded too. That means they won’t be subject to the current 145 percent tariffs levied on China or the 10 percent baseline tariffs elsewhere.
It’s the latest tariff change by the Trump administration, which has made several U-turns in their massive plan to put tariffs in place on goods from most countries. The exemption seemed to reflect the president’s realization that his China tariffs are unlikely to shift more manufacturing of smartphones, computers and other gadgets to the US any time soon, if ever, despite the administration’s predictions that the trade war prod Apple to make iPhones in the US for the first time.
But that was an unlikely scenario after Apple spent decades building up a finely calibrated supply chain in China. What’s more, it would take several years and cost billions of dollars to build new plants in the US, and then confront Apple with economic forces that could triple the price of an iPhone, threatening to torpedo sales of its marquee product.
Trump’s decision to exempt the iPhone and other popular electronics made in China mirrors the similar relief that he gave those products during the trade war of his first term in the White House. But Trump began his second term seemingly determined to impose the tariffs broader this time, triggering a meltdown in the market values of Apple and other technology powerhouses.
The turmoil battered the stocks of tech’s “Magnificent Seven”—Apple, Microsoft, Nvidia, Amazon, Tesla,
Google parent Alphabet and Facebook parent Meta Platforms. At one point earlier this week, the combined Magnificent Seven’s combined market value had plunged by $2.1 trillion, or 14 percent, from April 2 when Trump unveiled sweeping tariffs on a wide range of countries.
Some of the losses eased this past Wednesday when Trump paused the tariffs outside of China, paring the lost value in the Magnificent Seven to $644 billion, or a 4 percent decline, from April 2. Now, the stage is set for another tech rally Monday when trading resumes in the US stock market, with Apple likely leading the way because the iPhones made in China remain the company’s biggest money maker.
The electronics exemption also should relieve consumer worries that the China tariffs would result in hefty price hikes on smartphones and other devices that have become essential tools of modern living, It’s the kind of friendly treatment that industry was envisioning
and expressing support for extremism. The huge library of violent content, several terabytes of data, that the boy amassed included video tutorials on bomb-making, the prosecutor said.
“It is possible to completely upend the mental bearings of such a young child,” he said. “Do that for a few years and, even before he has turned 18, he’s already capable of, yes, committing an attack and the worst things with just a knife.”
An emerging global threat ACROSS Europe and further afield, the picture is similar: Counterterrorism agencies are grappling with a new generation of attackers, plotters and acolytes of extremism who are younger than ever and have fed on ultraviolent and potentially radicalizing content largely behind their screens. Some are appearing on police radars only when it’s already too late—with knife in hand, as they’re carrying out an attack.
See “Radicalization,” A7
said Wedbush analyst Dan Ives in a research note. In a statement issued Saturday, White House Press Secretary Karoline Leavitt did not address the exemptions specifically but indicated the administration still plans to push for tech companies to move manufacturing to the US.
Liedtke contributed from Berkeley, California. AP White House correspon-
A HANDWRITTEN price tag for sausage imported from China is seen at a grocery market in the Chinatown neighborhood of Los Angeles, Friday, April 11, 2025. AP PHOTO/JAE C. HONG
In key milestones for President Milei, Argentina secures IMF deal and ends most capital controls
By Isabel Debre | The Associated Press
BUENOS
AIRES, Argentina—President
Javier Milei on Friday announced that he would lift most of the country’s strict capital and currency controls next week, a high-stakes gamble made possible by a new loan from the International Monetary Fund.
It marked a major step forward in the libertarian’s program to normalize Argentina’s economy after decades of unbridled spending.
The IMF’s executive board late Friday green-lit the $20 billion bailout package, which offers a lifeline to Argentina’s dangerously depleting foreign currency reserves over the next four years. The fund praised President Milei’s tough austerity program and zero-deficit fiscal policy, saying the program sought to “consolidate impressive initial gains” and address “remaining macroeconomic vulnerabilities.”
“Against this backdrop, the authorities are embarking on a new phase of their stabilization plan,” said IMF Managing Director Kristalina Georgieva, adding that Argentina has committed to doubling down on spending cuts and economic deregulation and transitioning toward a new foreign currency exchange regime.
Shortly afterward, Milei, flanked by his ministers, addressed his nation on television.
“Today we are breaking the cycle of disillusionment and disenchantment and are beginning to move forward for the first time,” he said. “We have eliminated the exchange rate controls on the Argentine economy for good.”
A tangle of regulations
THE capital controls, known here as “el cepo,” or “the clamp, “ are a tangle of regulations that help to stabilize the peso at an official rate and prevent capital flight from Argentina.
Imposed by a previous administration in 2019, the restrictions clamp down on individuals’ and companies’ access to dollars, discouraging the foreign investment that Milei needs to achieve his goal of transforming heavily regulated Argentina into a free economy.
The restrictions made it almost impossible for ordinary Argentines to purchase dollars, giving rise to a black market that is technically illegal but that almost every Argentine uses to sell their depreciating pesos anyway. Their removal takes effect on Monday.
The bank said it would receive the first $12 billion from the IMF Tuesday—a bigger-than-expected upfront sum that gives Argentina’s reserves breathing room to make the major change and reflects the fund’s confidence in Milei’s radical reforms.
“The program is unprecedented in supporting an economic plan that has already yielded results,” Milei said.
The new policy also involves cutting the Argentine peso free from its peg to the dollar. But instead of a risky
free float, Argentina is allowing the peso to trade within a so-called currency band that ranges from 1,000 to 1,400 pesos per dollar. The band will expand 1 percent each month, the bank said.
This breaks from Milei’s current policy of letting the peso weaken at a pace of 1 percent against the dollar each month.
That crawling peg had drawn backlash from investors worried about the central bank burning through its reserves to prop up the peso. It was forced to spend $2.5 billion to defend the official exchange rate in just the past few weeks.
When announcing the removal of exchange controls Economy Minister Luis Caputo insisted it was “not a devaluation.”
“The truth is, we don’t know where the dollar will end up,” he said.
Milei’s team has sought to fend off a politically costly official devaluation of the peso that could push inflation much higher. Keeping a lid on rising prices—a flagship campaign promise—has helped the political outsider hold up approval ratings despite his brutal cuts to state spending that might otherwise trigger social unrest.
But it was clear that the peso
ARGENTINA’S President Javier Milei, left, and Economy Minister Luis Caputo attend the Mercosur Summit in Montevideo, Uruguay, December 6, 2024. AP PHOTO/ MATILDE CAMPODONICO
would have to depreciate to some extent, with economists guessing that it would fall to close to its black-market rate. On Friday, that rate was 1,375 pesos to the dollar, compared with the official exchange rate of 1,097 pesos.
Marcelo J. García, director for the Americas at New York-based geopolitical risk consultancy Horizon Engage, said he expected an initial devaluation of around 2025 percent.
“A big question mark is inflation in the second quarter of the year. It’s very likely there will be a shock,” said Leonardo Piazza, chief economist at Argentine consulting firm LP Consulting.
Argentina, a serial defaulter BEFORE Milei took office in December 2023, the previous leftwing Peronist administration ran up massive budget deficits, leading to sky-high inflation and a chronically weakening peso. By scrapping subsidies and price controls, firing tens of thousands of state workers and halting the central bank’s overreliance on printing pesos to pay the government’s bills, Milei has delivered Argentina’s first fiscal surplus in
almost two decades and largely stabilized its macroeconomic imbalances, thrilling markets even as his overhaul hits the population hard.
Yet for all the changes and the financial pain, there have been scant signs of a sustainable recovery. Analysts say that a long-term economic revival involves the removal of capital controls, the amassing of currency reserves and access to international capital markets.
As a result, foreign investors have waited on the sidelines, wary of pouring their cash into a country infamous for defaulting on its debt.
The South American nation is already the IMF’s biggest debtor, owing some $43 billion. This new $20 billion loan represents the 23rd rescue package in the nation’s long and tumultuous history.
A ‘tsunami of money out’
MILEI has rejected pressure from investors over the past year to lift the capital controls, insisting that the economic conditions needed to be right. Now, he said, it was finally time.
After the first $12 billion disbursement from the IMF, another $2 billion will hit Argentina’s central bank in the next two months, the fund said.
International organizations will also pitch in, with the Inter-American Development Bank announcing later Friday $10 billion disbursed over the next three years.
“With this level of reserves, we can back up all the existing pesos in our economy, providing monetary security to our citizens,” Milei said. “These are the foundations for sustained, long-term growth.”
It’s a high-risk mission, as scrapping the “cepo” could unleash years of pent-up demand for US dollars and spark a currency run as companies try to send their long-trapped profits home.
“It could be a tsunami of money out,” said Christopher Ecclestone, a strate -
gist with investment bank Hallgarten & Company. “It’s a total guessing game as to what people will do.”
The central bank said that while it was lifting restrictions for the public, it would retain taxes on card purchases abroad and some regulations on companies. For instance, from 2025 on, multinational firms will be able to repatriate their earnings. But to get their already trapped holdings out of the country, they’ll need to exchange the debt for dollar-denominated security bonds.
It’s an effort to insure against capital flight, which would imperil Milei’s primary accomplishment of lowering inflation ahead of midterm elections in October that are crucial for his libertarian party to expand its small congressional minority.
“The announcement is more audacious than expected. The government is making a bit of a leap of faith by lifting the cepo,” said García.
It’s also bold timing, analysts say, considering the local market turmoil sparked by US President Donald Trump’s tariffs. In recent days, Argentine stocks and bonds have plunged.
Meanwhile, with traders nervous about a possible peso devaluation under Argentina’s IMF deal, the closely watched gap between Argentina’s currency exchange rates has grown by over 20% in recent weeks. The gap is a key indicator of confidence in the government and can fuel inflation, which already accelerated in March to its fastest pace in seven months.
On Friday, Argentina’s National Statistics Institute reported that consumer prices ticked up 3.7% last month compared to 2.4% in February, mainly as a result of rising food prices. Mieli was unruffled. “Inflation will disappear,” he promised.
Associated Press writer Almudena Calatrava contributed to this report.
Iran and US envoys hold 1st negotiation over Tehran’s nuclear program, and talk face-to-face
MBy Jon Gambrell The Associated Press
USCAT, Oman—Iran and the United States will hold more negotiations next week over Tehran’s rapidly advancing nuclear program, Iranian state television reported Saturday at the end of the first round of talks between the two countries since President Donald Trump returned to the White House.
Iran’s state-run broadcaster revealed that US Mideast envoy Steve Witkoff and Iranian Foreign Minister Abbas Araghchi “briefly spoke” together—the first time the two nations have done that since the
Obama administration.
Tehran’s declaration that the two sides spoke face-to-face—even if briefly—suggests the negotiations went well even to Iranian state TV, which long has been controlled by hard-liners.
In a statement released Saturday afternoon, the White House described the discussions as “very positive and constructive,” while conceding the issues that need to be resolved “are very complicated.”
“Special Envoy Witkoff’s direct communication today was a step forward in achieving a mutually beneficial outcome,” the White House said.
Trump told reporters on Air Force
One on Saturday while flying to Miami for a UFC event that the talks are “going okay.”
“I can’t tell you because nothing matters until you get it done so I don’t like talking about it but it’s going ok. The Iran situation is going pretty good, I think,” he said. The next round of talks will take place Saturday, April 19, according to the Iranian and American statements.
This first round of talks began at around 3:30 p.m. local. The two sides spoke for over two hours at a location in the outskirts of Muscat, Oman’s capital, ending the talks around 5:50 p.m. local time. The convoy believed to be carrying Witkoff returned to Muscat before disappearing into traffic around a neighborhood that is home to the US Embassy.
The stakes of the negotiations couldn’t be higher for the two nations closing in on half a century of enmity. Trump repeatedly has threatened to unleash airstrikes targeting Iran’s nuclear program if a deal isn’t reached. Iranian officials increasingly warn that they could pursue a nuclear weapon with their stockpile of uranium enriched to near weapons-grade levels.
Talks took place Saturday afternoon in Oman
ASSOCIATED Press journalists saw a convoy believed to be carrying Witkoff leave the Omani Foreign Ministry on Saturday afternoon and then speed off into the outskirts of Muscat. The convoy went into a compound and a few minutes later, Iranian Foreign Ministry spokesman Esmail Baghaei wrote on the social platform X that the “indirect talks” had begun.
Afterward, Araghchi described the meeting as constructive to Iranian state TV, with four rounds of messages exchanged during the indirect portion.
“Neither we nor the other side are interested in fruitless negotiations—so-called ‘talks for the sake of talks,’ wasting time, or drawn-out, exhausting negotiations,” he said. “Both sides, including the Americans, have said that their goal is also to reach an agreement in the shortest possible time. However, that will certainly not be an easy task.”
That the two men spoke face-to-face satisfied a demand of the Americans. Trump and Witkoff both had described the talks as being “direct.”
“I think our position begins with dismantlement of your program. That is our position today,” Witkoff told The Wall Street Journal before his trip. “That doesn’t mean, by the way, that at the margin we’re not going to find other ways to find compromise between the two countries.” He added: “Where our red line will be, there can’t be weaponization of your nuclear capability.”
Araghchi, however, sought to downplay the encounter as “a brief initial conversation, greetings and polite exchanges”—likely to avoid drawing the anger of hard-liners in Iran. Badr al-Busaidi, Oman’s foreign minister who shuttled between the two sides, said the countries have a “shared aim of concluding a fair and binding agreement.”
“I would like to thank my two colleagues for this engagement, which took place in a friendly atmosphere conducive to bridging viewpoints and ultimately achieving regional and global peace, security and stability,” al-Busaidi wrote on X. “We will continue to work together and put further efforts to assist in arriving at this goal.” Sanctions relief and enrichment remain top issues WHILE the US side can offer sanctions relief for Iran’s beleaguered economy, it remains unclear just how much Iran will be willing to concede. Under the 2015 nuclear deal, Iran could only maintain a small stockpile of uranium enriched to 3.67 percent. Today, Tehran’s stockpile could allow it to build multiple nuclear weapons if it so chooses and it has some material enriched up to 60 percent, a short, technical step away from weapons-grade levels. Judging from negotiations since Trump unilaterally withdrew America from the deal in 2018, Iran will likely ask to keep enriching uranium up to at least 20 percent.
One thing it won’t do is give up its program entirely. That makes the proposal of Israeli Prime Minister Benjamin Netanyahu of a socalled Libyan solution—“you go in, blow up the facilities, dismantle all the equipment, under American supervision, American execution”—unworkable.
Israel isolates Rafah as Gaza offensive intensifies, evacuation orders issued
By Sam Mednick & Samy Magdy
The Associated Press
TEL AVIV, Israel—Israel announced Saturday it had completed construction of a new security corridor cutting off the southern city of Rafah from the rest of Gaza, and the military said it would soon expand “vigorously” in most of the small coastal territory.
Palestinians were further squeezed into shrinking areas.
“Activity will expand rapidly to additional locations throughout most of Gaza and you will have to evacuate the fighting zones,” Defense Minister Israel Katz said in a statement, without saying where Palestinians were meant to go.
The statement urged Palestinians to remove Hamas and release the remaining hostages, saying: “This is the only way to stop the war.”
Israeli troops were deployed last week to the new security corridor referred to as Morag, the name of a Jewish settlement that once stood between Rafah and Khan Younis, after the army ordered sweeping evacuations covering most of Rafah—an indication it could soon launch another major ground operation.
The Rafah municipality in a statement called Israel’s actions a “flagrant breach of international legitimacy.”
Israel has vowed to seize large parts of Gaza to pressure Hamas to release the remaining 59 hostages, 24 of them believed to be alive, and accept proposed new ceasefire terms.
Prime Minister Benjamin Netanyahu’s government has also imposed a monthlong blockade on food, fuel
and humanitarian aid that has left the territory’s roughly 2 million Palestinians facing acute shortages as supplies dwindle—a tactic that rights groups say is a war crime.
Israel has claimed that enough supplies entered Gaza during the two-month ceasefire that it shattered last month. Aid groups have disputed that.
Netanyahu has said Morag would be “a second Philadelphi corridor,” referring to the Gaza side of the border with Egypt farther south, which has been under Israeli control since May 2024. Israel has also reasserted control of the Netzarim corridor, which cuts off Gaza’s northern third from the rest of the territory. The corridors, coupled with a buffer zone that Israel has razed and expanded, give it more than 50 percent control of the territory.
Katz said Palestinians interested in “voluntarily” relocating to other countries would be able to as part of a proposal by US President Donald Trump. Palestinians have rejected the proposal and expressed their determination to remain in their homeland.
Trump and Israeli officials have not said how they would respond if Palestinians refuse to leave Gaza. But
Human Rights Watch and other groups say the plan would amount to “ethnic cleansing”—the forcible relocation of the civilian population of an ethnic group from a geographic area.
Many Palestinians have been crowding into squalid tent camps or the rubble of their previous homes, often displacing multiple times in response to Israel’s evacuation orders since the Hamas-led attack on October 7, 2023, killed some 1,200 people, many of them civilians, and sparked the war.
Israel on Saturday ordered the evacuation of areas east of Khan Younis ahead of an attack. Military spokesperson Avichay Adraee added that militants had fired rockets into Israel from these areas. In the evening, several neighborhoods in Nuseirat in central Gaza were told to evacuate after Israel said it had intercepted a projectile from the territory.
Hamas has said the bombardment poses risks to the hostages as well. On Saturday, the family of the last living American held in Gaza re -
50 years after Lebanon’s civil war began, a bullet-riddled bus stands as a reminder
BBy Abby Sewell
The Associated Press
EIRUT—It was an ordinary day in Beirut. In one part of Lebanon’s capital, a church was inaugurated, with the leader of the Christian Phalange party there. In another, Palestinian factions held a military parade. Phalangists and Palestinians had clashed, again, that morning.
What happened next on April 13, 1975, would change the course of Lebanon, plunging it into 15 years of civil war. It would kill about 150,000 people, leave 17,000 missing and lead to foreign intervention. Beirut became synonymous with snipers, kidnappings and car bombs.
Lebanon has never fully grappled with the war’s legacy, and in many ways, it has never fully recovered, 50 years later. The government on Sunday will mark the anniversary with a minute of silence.
The massacre UNREST had been brewing. Palestinian militants had begun launching attacks against Israel from Lebanese territory. Leftist groups and many Muslims in Lebanon sympathized with the Palestinian cause. Christians and some other groups saw the Palestinian militants as a threat.
At the time, Mohammad Othman was 16, a Palestinian refugee in the Tel al-Zaatar camp east of Beirut.
Three buses had left camp that morning, carrying students like him as well as militants from a coalition of hardline factions that had broken away from the Palestinian Liberation Organization. They passed through the Ein Rummaneh neighborhood without incident and joined the military parade.
The buses were supposed to return together, but some participants were tired after marching and wanted to
go back early. They hired a small bus from the street, Othman said. Thirtythree people packed in. They were unaware that earlier that day, small clashes had broken out between Palestinians and Phalange Party members guarding the church in Ein Rummaneh. A bodyguard for party leader Pierre Gemayel had been killed. Suddenly the road was blocked, and gunmen began shooting at the bus “from all sides,” Othman recalled. Some passengers had guns they had carried in the parade, Othman said, but they were unable to draw them quickly in the crowded bus. A camp neighbor fell dead on top of him. The man’s 9-year-old son was also killed. Othman was shot in the shoulder.
“The shooting didn’t stop for about 45 minutes until they thought everyone was dead,” he said. Othman said paramedics who eventually arrived had a confrontation with armed men who tried to stop them from evacuating him.
Twenty-two people were killed.
Conflicting narratives
SOME Lebanese say the men who attacked the bus were responding to an assassination attempt against Gemay -
el by Palestinian militants. Others say the Phalangists had set up an ambush intended to spark a wider conflict.
Marwan Chahine, a LebaneseFrench journalist who wrote a book about the events of April 13, 1975, said he believes both narratives are wrong.
Chahine said he found no evidence of an attempt to kill Gemayel, who had left the church by the time his bodyguard was shot. And he said the attack on the bus appeared to be more a matter of trigger-happy young men than a “planned operation.”
There had been past confrontations, “but I think this one took this proportion because it arrived after many others and at a point when the authority of the state was very weak,” Chahine said.
The Lebanese army had largely ceded control to militias, and it did not respond to the events in Ein Rummaneh that day. The armed Palestinian factions had been increasingly prominent after the PLO was driven out of Jordan in 1970, and Lebanese Christians had also increasingly armed themselves.
“The Kataeb would say that the Palestinians were a state within a state,” Chahine said, using the Phalange Party’s Arabic name. “But the reality was,
Attacks on famine-hit camps in Sudan’s Darfur leave at least 100 people dead, UN official says
By Samy Magdy The Associated Press
CAIRO—Sudan’s notorious paramilitary group launched a two-day attack on faminehit camps for displaced people that left more than 100 dead, including 20 children and nine aid workers, in the Darfur region, a UN official said Saturday.
The Rapid Support Forces and allied militias launched an offensive on the Zamzam and Abu Shorouk camps and the nearby city of el-Fasher, the provincial capital of North Darfur province, on Friday, said UN Resident and Humanitarian Coordinator in Sudan Clementine Nkweta-Salami.
sponded to the release of a new video showing Edan Alexander speaking under duress.
“When you sit down to mark Passover, remember that this is not a holiday of freedom as long as Edan and the other 58 hostages are not home,” the family said in a statement.
Families and supporters again rallied in Tel Aviv for a deal to bring everyone home.
Israeli strikes across Gaza continued, killing at least 21 people in the last 24 hours, according to Gaza’s Health Ministry, which doesn’t distinguish between civilians and combatants but says most of the over 50,000 Palestinians killed in the war have been women and children.
The ministry said at least 1,500 people have been killed since Israel’s surprise bombardment resumed the war last month.
Israel says it has killed around 20,000 militants in the war, without providing evidence.
Magdy reported from Cairo.
you had two states in a state. Nobody was following any rules.”
Selim Sayegh, a member of parliament with the Kataeb Party who was 14 and living in Ein Rummaneh when the fighting started, said he believes war had been inevitable since the Lebanese army backed down from an attempt to take control of Palestinian camps two years earlier.
Sayegh said men at the checkpoint that day saw a bus full of Palestinians “and thought that is the second wave of the operation” that started with the killing of Gemayel’s bodyguard.
The war unfolded quickly from there. Alliances shifted. New factions formed. Israel and Syria occupied parts of the country. The United States intervened, and the US embassy and Marine barracks were targeted by bombings. Beirut was divided between Christian and Muslim sectors.
In response to the Israeli occupation of southern Lebanon, a Shiite militant group was formed in the early 1980s with Iranian backing: Hezbollah. It would grow to be arguably the most powerful armed non-state group in the region.
Hezbollah was the only militant group allowed to keep its weapons after Lebanon’s civil war, given special status as a “resistance force” because Israel was still in southern Lebanon. After the group was badly weakened last year in a war with Israel that ended with a ceasefire, there has been increasing pressure for it to disarm.
The survivors OTHMAN said he became a fighter because “there were no longer schools or anything else to do.” Later he would disarm and became a pharmacist.
He remembers being bewildered when a peace accord in 1989 ushered in the end of civil war: “All this war and bombing, and in the end, they make some deals and it’s all over.”
Of the 10 others who survived the bus attack, he said, three were killed a year later when Christian militias attacked the Tel al-Zaatar camp. Another was killed in a 1981 bombing at the Iraqi embassy. A couple died of natural causes, one lives in Germany, and he has lost track of the others.
El-Fasher is under the control of the military, which has fought the RSF since Sudan descended into civil war two years ago, killing more than 24,000 people, according to the United Nations, though activists say the number is likely far higher.
The camps were attacked again on Saturday, Nkweta-Salami said in a statement. She said that nine aid workers were killed “while operating one of the very few remaining health posts still operational” in Zamzam camp.
“This represents yet another deadly and unacceptable escalation in a series of brutal attacks on displaced people and aid workers in Sudan since the onset of this conflict nearly two years ago,” she said.
Nkweta-Salami didn’t identify the aid workers but Sudan’s Doctors’ Union said in a statement that six medical workers with the Relief Inter -
Radicalization...
Continued from A5
Olivier Christen, France’s national anti-terrorism prosecutor who handles the country’s most serious terror investigations, has a firsthand view of the surging threat. His unit handed terror-related preliminary charges to just two minors in 2022. That number leapt to 15 in 2023 and again last year, to 19.
Some are “really very, very young, around 15 years old, which was something that was almost unheard of no more than two years ago,” Christen said in an interview with The Associated Press. It “demonstrates the strong effectiveness of the propaganda disseminated by terrorist organizations, which are quite good at targeting this age group.”
The so-called “Five Eyes” intelligencesharing network that usually shuns the limelight, comprising US, UK, Canadian, Australian and New Zealand security agencies, is so alarmed that it took the unusual step in December of calling publicly for collective action, saying: “Radicalized minors can pose the same credible terrorist threat as adults.”
In Germany, an Interior Ministry task force launched after deadly mass stabbings last year is focusing on teenagers’ social networks, aiming to counter their growing role in radicalization. In France, the domestic DGSI security agency says 70 percent of suspects detained for involvement in alleged terror plots are under the age of 21.
In Austria, security services say a 19-year-old suspect arrested in August, with an 18-year-old and a 17-year-old, for an alleged ISIS-inspired plot to slaughter Taylor Swift concertgoers, was radicalized online. So, too, was a suspected ISIS supporter, aged 14, detained this February for an alleged plan to attack a Vienna train station, Austrian authorities say.
The VSSE intelligence agency in Belgium says almost a third of suspects detained there for plotting attacks from 2022 to 2024 were minors — the youngest only 13. Extremist propaganda “is just a click away for young people in search of an identity or a purpose,” it said in a report in January, with radicalization occurring at speeds that are “nothing short of meteoric.”
A path from porn to jihadi propaganda COUNTERTERROR investigators say the online radicalization of a child can sometimes take just months. Digitally nimble, kids are
national were killed when their hospital in Zamzam came under attack on Friday. They include Dr. Mahmoud Babaker Idris, a physician at the hospital, and Adam Babaker Abdallah, head of the group in the region, the union said. It blamed the RSF for “this criminal and barbaric act.” In a statement Saturday evening, Relief International mourned the death of its nine workers, saying they were killed the previous day in a “targeted attack on all health infrastructure in the region,” including the group’s clinic.
The group said the central market in Zamzam along with hundreds of makeshift homes in the camp were destroyed in the attack. The offensive forced about 2,400 people to flee the camps and el-Fasher, according to the General Coordination for Displaced Persons and Refugees, a local group in Darfur. Zamzam and Abu Shouk shelter more than 700,000 people who have been forced to flee their homes across Darfur during past bouts of fighting in the region, Nkweta-Salami said. Late last month, the Sudanese military regained control over Khartoum, a major symbolic victory in the war. But the RSF still controls most of Darfur and some other areas. The two camps are among five areas in Sudan where famine was detected by the Integrated Food Security Phase Classification, IPC, a global hunger monitoring group. The war has created the world’s largest humanitarian crisis, with about 25 million people—half of Sudan’s population—facing extreme hunger.
adept at covering their tracks and skirting parental controls. The 12-year-old’s mother had no inkling that her boy was consulting extremist content, the family’s lawyer, Kamel Aissaoui, told The AP. And unlike previous generations of militants who were easier for police to track and monitor because they interacted in the real world, their successors are often interacting only in digital spaces, including on encrypted chats to mask their identities and activities, investigators say.
“They live on their phones, their tablets, their computers, in contact with people they don’t know,” said a senior official from a European intelligence agency who spoke to The AP on condition of anonymity to discuss its work combatting illegal extremist activity.
Some start “to imagine who they would attack, how they would go about it, doing actual reconnaissance, hunting for a weapon, consulting tutorials on how to make explosives,” the official said. For some kids, the process starts with violent pornography or a fascination for gory images, counterterrorism investigators say. From there, more clicks can lead to grisly murder videos from Mexican drug cartels and ultimately to jihadi decapitations, throat-slitting and torture, in videos that are sometimes slickly produced with music and are shared on chat groups.
“Often they’re heavy consumers of everything that is broadcast on the Web and especially things that are forbidden,” said Christen, the French national anti-terror prosecutor. “It’s something of a chain reaction that gets them to the ultra-violence disseminated by jihadi movements.”
Kids from all backgrounds
AISSAOUI , the child’s lawyer, said the trial was so tough on the 12-year-old that the hearing had to be paused twice because he was so distraught. He says the boy isn’t violent and was simply a victim of apps and other digital tools that expose kids to extremist content.
“He was directed from site to site, and so on and so forth, until he came across things he should never have seen,” the lawyer said. The boy is now in residential care without access to social networks, with specialized educators and regular visitation rights for his parents, the prosecutor told AP. Counterterrorism investigators say they’re dealing with kids from an array of backgrounds. Some have behavioral difficulties and some tend to be loners whose social interactions are largely virtual, but others raise no concerns with their behavior before it draws police attention.
PALESTINIAN children injured in an Israeli airstrike are brought to the Baptist Hospital in Gaza City, Saturday, April 12, 2025. AP PHOTO/JEHAD ALSHRAFI
Russia and Ukraine accuse each other of failing to pause strikes after US envoy leaves Moscow
By The Associated Press
RUSSIA and Ukraine’s top diplomats on Saturday used a high-level conference in Turkey to once again trade accusations of violating a tentative USbrokered deal to pause strikes on energy infrastructure, underscoring the challenges of negotiating an end to the 3-year-old war.
The two foreign ministers spoke at separate events at the annual Antalya Diplomacy Forum, a day after US envoy Steve Witkoff met with Russian President Vladimir Putin to discuss peace prospects. Ukraine’s European allies on Friday promised billions of dollars to help Kyiv keep fighting Russia’s invasion.
While Moscow and Kyiv both agreed in principle last month to implement a limited, 30-day ceasefire, they issued conflicting statements soon after their separate talks with US officials in Saudi Arabia. They d iffered on the start time of halting strikes, and alleged near-immediate breaches by the other side.
“The Ukrainians have been attacking us from the very beginning, every passing day, maybe with two or three exceptions,” Russian Foreign Minister Sergei Lavrov said, adding that Moscow would provide the US, Turkey and international bodies with a list of Kyiv’s attacks during the past three weeks.
A representative of the Russian Foreign Ministry separately told state media Saturday that Moscow
has been sharing intelligence with the US regarding more than 60 supposed breaches of the deal by Kyiv.
Trump says ‘Russia has to get moving’ LAVROV on Saturday insisted Russia had stuck to the terms of the deal.
His Ukrainian counterpart, Andrii Sybiha, fiercely contested that claim, saying Russia had launched “almost 70 missiles, over 2,200 (exploding) drones, and over 6,000 guided aerial bombs at Ukraine, mostly at civilians,” since agreeing to the limited pause on strikes.
“This clearly shows to the world who wants peace and who wants war,” he said.
Russian forces hold the advantage in Ukraine, and Kyiv has warned Moscow is planning a fresh spring offensive to ramp up pressure on its foe and improve its negotiating position. Ukraine has endorsed a broader US ceasefire proposal, but Russia has effectively blocked it by imposing far-reaching conditions. European governments have accused Putin of dragging his feet.
“Russia has to get moving” on the road to ending the war, US President Donald Trump posted on social media Friday. He said the war is “terrible and senseless.”
Lavrov on Saturday reiterated that a prospective US-backed agreement, also discussed in Saudi Arabia, to ensure safe navigation for commercial vessels in the Black Sea could not be implemented until restrictions are lifted on Russian access to shipping insurance, docking ports and international payment systems. Details of the prospective deal were not released, but it appeared to mark another attempt to ensure safe Black Sea shipping after a 2022 agreement that was brokered by the UN and Turkey but halted by Russia the following year.
Ukraine reports death of F-16 pilot UKRAINE’S air force said a second
F-16 fighter jet supplied by Western allies has been lost and its pilot, 26-year-old Pavlo Ivanov, killed. Ukraine’s General Staff said the F-16 crashed while repelling a Russian missile strike. Ukrainian President Volodymyr Zelenskyy on Saturday offered condolences to Ivanov’s family, saying, “We are proud of our soldiers. We will give a strong and apt response.”
Ukraine said the first F-16 was shot down last August, after it intercepted three Russian missiles and a drone.
Since last July, Ukraine has received multiple batches of the fighter jets from Denmark and the Netherlands, with US approval. Their total number has not been disclosed.
Meanwhile, Russian drones killed at least two civilians in Ukraine’s southern Kherson region on Saturday, according to local Gov. Oleksandr Prokudin.
Fire-ravaged community finds resilience in Passover amidst loss of homes, temple
By Deepa Bharath The Associated Press
PASADENA, California—Aty Rotter lost her family home and her spiritual home in the ravenous fire that scorched a large swath of Los Angeles County earlier this year. The house her late father built in Pasadena more than 60 years ago is gone to the fire that charred more than 21 square miles (54 square kilometers). So is the 104-year-old Pasadena Jewish Temple and Center where she has worshipped since she was a child.
The January fire destroyed the menorahs she lit for Hanukkah and the growing collection of dreidels she planned to pass down to her granddaughters. Also lost forever are the candlesticks and brassware her family carried while fleeing Nazi Europe, and the Seder plates she would have used for the upcoming ritual Passover meal this weekend.
“Only their spirit and memory of those things remain with me now,” Rotter said. “The memories of when I used them and who was with me.”
A sobering Passover
SHE’S not alone. Thirty of the synagogue’s 435 families lost their homes and even more were displaced. As the major Jewish festival approaches, it’s hard not to see the Passover story reflected in this post-fire reality, said Melissa Levy, the temple’s executive director. Passover, which begins at sundown Saturday, commemorates the Israelites’ liberation from slavery in ancient Egypt, including their 40-year journey through the desert. It is celebrated with a special meal called a Seder, the eating of matzo or unleavened bread, and the retelling of the Exodus story.
“The synagogue itself and our people are doing a lot of wandering right now, and having to focus on togetherness and resiliency is a theme that hits home harder than usual this year,” Levy said.
The congregation has received overwhelming support from the community. First United Methodist Church opened its doors so they could continue to hold weekly Shabbat services, their Passover Seders will be held at Pasadena City College, and a synagogue member is sponsoring the second night’s dinner.
“The outpouring of support we’ve received reminds us that we’re not alone and we’re not wandering alone,” Levy said. “It’s a good reminder that we all are part of one human family and that the purpose of religion is to make ourselves the best we can be so we can repair the world and take care of each other.”
While the sanctuary adorned with stained glass panels completely burned down, all 13 Torah scrolls were saved, including a Persian scroll retrieved by a congregant from Iran.
Speaking about trauma and loss
CANTOR RUTH BERMAN HARRIS, who leads the congregation in lieu of a full-time rabbi, said she chan -
neled her Polish grandmother who survived the Holocaust as she and others fought to save the sacred scrolls from the approaching flames.
“When heard the fire was getting closer to the synagogue, that was no time to feel. It was time to step up and take action,” she said.
Time and again, Jewish people “have been forced to pack up and move, go somewhere else and experience something new,” often not of their own volition, Harris said. The Haggadah, a book that leads participants through a Seder, serves as a reminder of Jewish resilience. But the trauma of the fire is recent and raw.
“It’s not easy to talk about this sense of loss when it just happened,” she said. “But also, it’s Passover, and so I need to talk about it.”
Harris is preparing for this task even as she processes her own trauma. She changed the background of her Apple watch from fire—a reminder “of the internal fire we carry that is connected to God”—to water.
Levy said the community currently uses three locations—one where they pray, another that serves as office quarters and a third that houses their school. They are looking for rental space where they can consolidate all of their programs and settle down while planning a major fundraising effort to rebuild.
Replacing lost sacred items
AS Passover approaches, this theme of replenishing and rebuilding continues with various efforts in the area’s Jewish communities to
DEVASTATING LOSS: SPANISH PRIME MINISTER MOURNS DEATH OF FAMILY OF 5 IN NEW YORK CHOPPER CRASH
By Joseph Wilson The Associated Press
BARCELONA, Spain—As they sat inside a helicopter shortly before a flight over the towering skyscrapers of New York City, Agustin Escobar flashed a thumbs-up while his wife and children beamed big smiles.
A trip that was intended to celebrate their middle child’s upcoming birthday ended up being the final moments for the family of five from Spain. Moments later, their sightseeing helicopter broke apart in midair and crashed into the Hudson River between New York City and New Jersey, killing them and the pilot.
Condolences poured in Friday for the Barcelona family, including Spain’s prime minister, the company where the parents worked and the school where their children studied.
replace sacred items, also known as Judaica, that were lost in the fire. Last month, Leo Baeck Temple in Los Angeles hosted an event featuring thousands of new and used Judaica items where Rotter and others affected by the Eaton and Palisades fires were able to obtain them for free.
Rotter said she found Seder plates, covers for matzo and challah breads and kiddush cups, which hold wine or grape juice that is used in sanctifying prayers recited to mark the beginning of the Jewish holiday.
Rachel Neumann, a congregant since 2017, said much of her Judaica was ruined in the fire, though her Altadena home survived.
“I lost my Shabbat items and various heirlooms, including things from my late father,” she said, her voice thick with emotion. “To see this room full of Jewish ritual items donated by individuals or Judaica companies was so beautiful to me. It felt very special to be cared for in this way.”
A way to repair and replenish
EMILY KANE MILLER, a board member at the Kehillat Israel synagogue in Pacific Palisades, founded an organization called Heart and Hamsa with actress and activist Noa Tishby. It’s a free registry and marketplace for Judaica for Jewish families affected by the wildfires. While her synagogue survived the fire, Miller’s home did not. She lost heirlooms handed down from her great-grandmother, a Holocaust survivor.
The site has received numerous donations, including many items from precious Judaica collections.
“We’ve received hundreds of Judaica items, which represent hundreds of stories,” Miller said. “There are hundreds of miracles that brought those pieces to affected families that then become opportunities to reverberate that miracle every time a family uses an item.”
While giving away items that have been handed down over generations can be difficult, even painful, it’s also a “loving act of kindness in a time of struggle,” Miller said. Launching this site along with Tishby has helped her cope with a low moment in her life, she said.
“I didn’t just lose my house,” Miller said. “My entire community burned down. To still be able to appreciate and feel the sacred in our world is such a gift. It’s my medicine in this moment.”
Escobar was global CEO of rail infrastructure at Siemens Mobility, while his wife, Mercè Camprubí Montal worked for Siemens Energy, a separate company. Camprubí Montal’s grandfather was a former president of the famous Barcelona FC soccer club.
The children were 4, 8 and 10 years old, and the middle child’s 9th birthday would have been Friday, according to New York City Mayor Eric Adams.
“Unimaginable,” was how Spanish Prime Minister Pedro Sánchez described the tragedy.
“The news that has reached us about a helicopter accident in the Hudson River is devastating,” Sánchez said on X during a state visit to China. “Five members of a Spanish family, including three children, have lost their lives. It is an unimaginable tragedy. I feel for the loss of their loved ones.”
Classmates shocked STUDENTS at the Jesuits of Sant Ignasi school in Barcelona’s upscale Sarria neighborhood wept and embraced their parents Friday afternoon, after learning of the deaths of their friends and classmates, as seen by an Associated Press reporter.
The school held a minute of silence in the morning, Oleguer Bertran, an 18-year-old student, told the AP. A father at the school’s entrance said his son had been friends with one of children who perished, and is completely devastated. The man declined to be named.
The school published a statement on Instagram saying it was “devastated by the death of a family of our community.” It declined to comment when contacted by the AP.
‘My endless source of energy and happiness’ ESCOBAR was originally from Puertollano, a small city in central Spain’s Castilla La Mancha region.
“I want to express my sorrow for the traffic helicopter accident in New York that claimed the lives of Agustín Escobar and his fam -
ily,” regional president Emiliano García-Page wrote on X. “In 2023, we named him a Favorite Son of Castilla La Mancha.” Escobar worked for the tech company Siemens for more than 27 years, most recently as global CEO for rail infrastructure at Siemens Mobility, according to his LinkedIn account. In late 2022, he briefly became president and CEO of Siemens Spain.
He regularly posted about the importance of sustainability in the rail industry and often traveled internationally for work, including to India and the United Kingdom in the past month. He also was vice president of the German Chamber of Commerce for Spain since 2023. In a LinkedIn post in 2022, he thanked his family, “my endless source of energy and happiness, for their unconditional support, love... and patience.”
Soccer club connection CAMPRUBÍ MONTAL hailed from northeast Catalonia, where Barcelona is. She had worked for Siemens Energy for about seven years, including as its global commercialization manager and as a digitalization manager, according to her LinkedIn account.
She was also closely tied to the history of the famous Barcelona soccer club. Her grandfather, Agustí Montal i Costa, was president of the club from 1969 to 1977, and her great-grandfather Agustí Montal i Galobart, presided over the club from 1946-1952.
The club has not commented on her death.
“We are deeply saddened by the tragic helicopter crash in which Agustin Escobar and his family lost their lives. Our heartfelt condolences go out to all their loved ones,” Siemens said in a statement Friday.
‘Smiles on their faces’ ESCOBAR had traveled to the New York area on business, and his family flew in to extend the trip by a few days, said Steven Fulop, mayor of Jersey City. Photos the tour company posted on its website show the family smiling in the helicopter before takeoff.
On Saturday, Adams and Joan Camprubí Montal, Mercè Camprubí Montal’s brother, visited the crash site and laid flowers.
“It is our way of saying, as New Yorkers, we stand united with this family during this moment of grief, and their grief is ours,” Adams said.
Joan Camprubí Montal on Saturday expressed gratitude for the outpouring of condolences to his family
“They left together. They left without suffering. And they left with a smile on their faces. And that’s important for us as a family,” he said.
MOTHER and brother cry at the coffin of Ukrainian soldier Oleksandr Samoilovich, 18, of 1st Separate
Assault Regiment of Dmytro Kotsiubailo, during farewell ceremony in Slavuta, Ukraine, Friday, April 11, 2025. AP PHOTO/ANNA DONETS
CANTOR
Unmilled rice cheaper in March–PSA
LBy Ada Pelonia @adapelonia
OCAL traders purchased unmilled rice at a lower price in March, the Philippine Statistics Authority (PSA) reported.
Data from the agency showed that the average quotation for palay dropped by 24.4 percent to P18.57 per kilo in March from
P24.55 per kilo last year. On a monthly basis, the average farmgate price of palay last month dipped by 8.5
percent from the P20.29 per kilo recorded in February.
PSA data showed that the steepest decline was observed in Calabarzon, where the average prices recorded a year-on-year drop of 30.8 percent.
The average palay farmgate prices in Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon) reached P16.77 per kilo in March, lower than P24.25 per kilo in the same period last year.
This was followed by Cagayan Valley, which registered a 30 percent contraction to P18 per
kilo last month from P25.72 per kilo in the same period last year.
“Farmgate prices refer to the prices received by farmers for the sale of their produce at the first point of sale net of the total marketing cost paid by the farmers,” the PSA said.
“These prices are determined at the farmgate or first point of sale transactions and are also known as “producer prices,” it added.
The state statistics agency noted that the monthly data on the farmgate prices of palay are obtained from the results of
DAR, other govt agencies complete ₧30-M solar-powered irrigation project
TBy Jonathan L. Mayuga @jonlmayuga
HE Department of Agrarian Reform (DAR) over the weekend announced the completion of a P30 million solar-powered irrigation project in Kiblawan, Davao del Sur.
This is the town’s first-ever solar-powered irrigation system, an initiative of Agrarian Reform (DAR) Secretary Conrado M. Estrella III and implemented in partnership with the local government of Kiblawan, Davao del Sur, and the National
Irrigation Administration (NIA) to enhance agricultural productivity and food security in the region.
Funded through the Comprehensive Agrarian Reform Program (CARP) Irrigation Component-Agrarian Reform Fund (ARF), the project is now ready for turnover to 44 agrarian reform beneficiaries and the community. Designed to serve 80 hectares, the solar-powered irrigation project will provide sustainable and cost-efficient irrigation, reducing ARBs’ reliance on expensive fuel-
powered pumps.
During the final inspection, representatives from the DAR Region XI, NIA, the Provincial Agrarian Reform Coordinating Committee (Parccom), the Barangay Agrarian Reform Committee (BARC), the Irrigators Association (IA) Chairman and local government officials confirmed that the system is operational and ready to deliver long-term benefits to ARBs and the local economy.
“This milestone marks a significant step forward for our ARBs, empowering them with access to reliable irrigation while
Pangilinan, party-list group join forces
AGRI party-list group and former senator Francis Pangilinan have forged a shared commitment in addressing the country’s food crisis and rising food prices.
“Gaya ni Senator Pangilinan, naniniwala ang AGRI party-list [goup] na ang gutom at kahirapan, walang kulay. Ang solusyon, walang dapat hinihintay, AGRI Rep. Wilbert Lee said.
“Tiwala tayo at nagpapasalamat na ang mga ipinaglalaban natin sa Kongreso para sa murang pagkain ay siya ring isinusulong ni Senator Pangilinan at ipagpapatuloy niya sa pagbabalik niya sa Senado,” he added.
promoting renewable energy solutions in agriculture,” said DAR Davao del Sur Provincial Agrarian Reform Program Officer Jupiter S. Arandela Jr. Aside from land distribution, DAR continues to support ARBs by implementing vital programs such as irrigation development, farm-to-market roads, credit access, and modern agricultural training. With this successful project, DAR reaffirms its commitment to modernizing irrigation infrastructure, increasing farmers’ incomes, and ensuring the sustainability of Kiblawan’s farming communities.
the Farm Price Survey for Palay conducted on the last five days of the reference month.
Earlier, the National Food Authority (NFA) said its “competitive buying price” allowed it to significantly raise its purchases of paddy rice in February.
The grains agency said it procured 412,052 50-kilo bags or 20,602.6 metric tons (MT) of palay last month, a big jump from the 12,378 bags or 618.9 MT it bought in February 2024.
“Increase in procurement
compared to last month is mainly due to the on-set of harvest season, and the implementation of the Councilapproved Price Range Scheme [Pricers] for palay procurement activity,” the NFA said in its latest accomplishment report. Under the grains agency’s Pricers program, the NFA buys clean and dry palay at P23 to P30 per kilo, while the price of fresh and wet palay ranges from P17 to P23 per kilo. This flexible price scheme changes weekly per province.
Bulacan town farmers sell rice at ₧32 per kilo
SAN MIGUEL, Bulacan—A farmers’ group in this town has started selling rice at P32 per kilogram (kg), which was widely received by consumers in this town on Saturday.
Simeon Sioson, chairman of the Lambakin Multipurpose Farmers’ Cooperative, said 178 bags with 25 kg of rice each were sold out in about four hours.
Sioson said their group decided to process their newly harvested palay into rice as the current farm gate price of palay has gone down toP14 per kilo.
With consumers clamoring for more cheaper rice, he said they will process their palay harvest on a daily basis until their stocks are depleted.
Agriculture Secretary Francisco Tiu Laurel Jr. recently said the country could experience lower price levels of retail rice, ranging from P30 to P40 per kilo, as the administration of President Marcos is committed to bring down food prices while boosting the supply.
He said government efforts are still in place, like setting maximum suggested retail prices. PNA
“Hindi siya nangangako lang, may napatunayan na siya,” it added.
During his time in the Senate, Pangilinan was the principal author of the Sagip Saka Act, which has helped increase farmers’ and fishermen’s incomes by linking them directly to institutional buyers. He also led efforts to strengthen local food production and protect
AGRI party-list group, which is running for reelection in the 2025 elections, said Pangilinan’s track record speaks for itself: “Kay Senator Kiko, may lider tayo na hindi lang nakikiusap kundi kumikilos para sa kapakanan ng mga magsasaka, mangingisda at consumer.”
agricultural workers from economic shocks.
Pangilinan’s campaign continues to focus on addressing the food crisis through concrete solutions, including agricultural modernization, lower food production costs, and stronger support for farmers and fishermen.
Pangilinan, whose campaign is anchored on the call “Hello Pagkain sa Mababang Presyo,” also expressed gratitude and support for AGRI on their shared causes to fight for the welfare of farmers, fisherfolk, and every Filipino struggling with high food prices.
“Maramingsalamat kay Manoy Wilbert Lee at sa
From farm to FB: Northern Luzon’s women farmers boost income through connectivity
FEMALE farmers in Northern Luzon are leading a technologydriven transformation. In a region where agriculture fuels local economies, women are using technology to modernize their farms, boost productivity, and secure better incomes. With enhanced mobile and internet connectivity, they can now access digital tools to improve their market reach, update their farming methods, and help their fellow farmers.
For decades, rural farmers, especially women, have faced significant challenges such as limited market access and outdated farming techniques. However, with telco providers like PLDT and Smart expanding their network coverage to include agricultural communities, connectivity has become a key gateway to progress.
Maureen Blancad, a 36-yearold farmer from Cagayan, recalls how difficult it was to market their produce before strong mobile signal reached their community.
“Noon, mahirap ang bentahan ng gulay. Pero ngayon, sa tulong ng social media, mabilis namin naibebenta ang aming ani. Minsan, sold out agad,” she shares. Through Facebook and YouTube, she promotes her farm’s harvest and educates fellow farmers on modern techniques. Their empowerment has come largely through upskilling and education. Through initiatives such as the Scaling Up Sustainability program, by the Philippine Partnership for Sustainable Agriculture (PPSA), GlobalGiving, and Corteva, in collaboration with PLDT and Smart, women farmers like Maureen are introduced to digital literacy programs tailored for farmers. These training sessions teach them how to maximize the
internet and efficiently use online resources for weather monitoring, crop management, and direct-to-customer sales.
Arlene Lopez, owner of Lopez’s Integrated Farm School in Isabela, went from a landless worker to a farm school owner— thanks to years of perseverance and the robust connectivity in their area. “Napakalaking tulong ng internet. Kung may gusto akong pag-aralan tungkol sa pagtatanim, isang click lang sa Google, nandiyan na lahat ng impormasyon,” she says. Her farm school, accredited by Technical Education and Skills Development Authority (Tesda) and the Department of Agriculture (DA), integrates technology into agriculture by teaching mechanized farming and digital marketing.
“Dati, kung ano lang ang presyo sa palengke, iyon na. Pero ngayon, dahil sa online selling, mas may kita na kami,” Nanay Arlene said. Her farm supplies organic
AGRI party-list [group] sa pagiging maaasahang katuwang sa Kongreso sa pagsusulong ng ating kolektibong adhikain. Buo ang suporta natin sa AGRI sa pakikipaglaban para magkaroon ng pagkain sa hapag-kainan ang bawat pamilyang Pilipino, sapat na kita para sa mga magsasaka at mangingisda, at solusyon na hindi nakabase sa politika kundi sa pangangailangan ng bawat Pilipino,” Pangilinan said. Among AGRI’s principally authored legislations that passed into law are Republic Act 11953 or the New Agrarian Emancipation Act,”RA 11985 or the Philippine Salt Industry Development Act, and RA 12022 or the Anti-Agricultural Economic Sabotage Act. Butch Fernandez
bananas, vegetables, and even banana chips to buyers as far as Metro Manila.
The role of women in agriculture is rapidly evolving. No longer confined to traditional roles, they are becoming digital entrepreneurs, vloggers, and community leaders.
“Hindi lang basta magsasaka—mentor na rin ako,” said Nanay Maureen, who is looking forward to training other farmers in using digital tools. “ Sana ay hindi mag-atubili ang m ga kapwa ko magsasaka na tanggapin ng makabagong pagsasaka at teknolohiya.”
With continued efforts to enhance telecommunications infrastructure being undertaken by telcos like PLDT and Smart, the future of farming in regions like Northern Luzon looks promising. As these empowered women continue to break barriers, they serve as an inspiration to the next generation of farmers, proving that innovation, education, and connectivity can transform agriculture, grow communities and sow hope.
Group backs calls for probe of dredging at Cagayan River
THE militant group ACT Teachers on Sunday backed the call of a fishers’ group for a congressional investigation into the Chineseled dredging operations in Cagayan.
In a statement, ACT Teachers Rep. France Castro and former lawmaker Antonio Tinio expressed support for the Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas’ (Pamalakaya) call for an independent and comprehensive investigation of the dredging operations despite the halt in its operation in 2023.
“We fully support the demand of Pamalakaya for an immediate investigation into the environmental destruction and economic displacement caused by Chinese dredging operations in Cagayan,” Castro said. “This is not a closed case simply because the operations have ended. The fisherfolk continue to suffer the consequences, and justice demands that those responsible—foreign companies and complicit government officials—be held accountable.”
“Hindi sapat ang sinasabi ng Palasyo na tumigil na ang operasyon noong 2023. Dapat alamin kung gaano kalawak ang pinsala sa kalikasan at kabuhayan ng mamamalakaya, at dapat managot ang mga kumpanyang Tsino na sangkot,” she added.
Earlier, Pamalakaya assailed the lack of government action and transparency regarding the dredging operations, which they say were falsely labeled as “desiltation projects” but in reality facilitated the largescale extraction of sand and minerals, thus damaging marine
ecosystems and reducing fish catch for local fishermen.
For his part, Tinio stressed that this issue is emblematic of the broader problem of “foreign plunder” and environmental destruction under neoliberal economic policies.
“This is a clear example of how foreign corporations are allowed to exploit our natural resources at the expense of Filipino livelihoods and sovereignty,” Tinio said. “There must be full disclosure of all agreements made between the national government and these Chinese firms. We call on Congress to summon former and current officials who facilitated these projects.”
“Ang tunay na hustisya ay hindi lang pagtigil ng operasyong mapanira, kundi ang pagpaparusa sa mga responsable at pagpapanumbalik sa kabuhayan ng mga mangingisda,” he added. Castro and Tinio also called on the relevant House Committees to initiate public hearings in affected communities and ensure the participation of fishermen, environmental scientists, and concerned civil society groups.
“The people of Cagayan deserve answers. They deserve justice. This is a test for Congress—will it act in defense of poor fisherfolk, or will it serve foreign interests?” Castro said.
They reiterated the Makabayan bloc’s commitment to defending Philippine sovereignty, protecting the environment, and upholding the rights of marginalized sectors such as fisherfolk and rural communities. Ada Pelonia
Trump’s chaotic tariffs threaten global markets
IN a matter of days, US President Donald Trump’s erratic trade policies have sent shockwaves through global markets, erasing trillions of dollars in value and sowing fears of a worldwide recession. The latest selloff, which saw the S&P 500 plummet 3.5 percent and the dollar tumble for a third day, is a painful reminder of the devastating consequences of Trump’s chaotic approach to international trade. (Read the BusinessMirror World news: “Markets in free fall as Trump’s trade war sparks fears of global economic meltdown,” April 11, 2025).
Trump’s about-face on tariffs, which was meant to calm jittery markets, has had the opposite effect. Investors are now scrambling to flee US assets, seeking safe havens in currencies like the Swiss franc and gold. The bond market, too, is in turmoil, with long-term Treasuries sinking and yields soaring. Oil prices are falling, and the outlook for the global economy is growing increasingly dire.
The root of the problem is Trump’s unpredictable and aggressive trade strategy, which has left Wall Street analysts and investors bewildered. The on-and-off again rollout of tariffs, unusual formulas used to set them, and an unorthodox objective have created a toxic cocktail of uncertainty and fear. The fact that Trump has chosen to escalate the conflict with China has only added to the anxiety.
As one investor noted, “Even in emerging markets, we have an idea what policies are. But here in the US, we can no longer do a fundamental analysis of some of the best companies.” The lack of transparency and consistency in Trump’s trade policies has made it impossible for investors to make informed decisions, leading to a stampede for the exits.
The consequences of Trump’s actions are far-reaching and potentially catastrophic. A recession, once considered a remote possibility, is now being priced into the market. The trade war is threatening to break supply lines, cut cross-border trade, and cause a global economic meltdown. In the US, the Federal Reserve may be forced to step in to stabilize the market, but even its actions may not be enough to mitigate the damage.
In the end, Trump’s chaotic tariff rollouts have rapidly undermined confidence in the US economy and threaten to keep global markets on edge for the next three months. As one chief investment officer noted, “The reality of this being over quick and us returning to happy days quickly is very, very low.” The trade war reckoning has only just begun, and it’s time for Trump to take a step back and reassess the devastating consequences of his actions.
The US president must recognize that his trade policies are not a game to be won or lost, but a serious threat to the global economy. He must work to restore stability and predictability to the market, and engage in meaningful dialogue with his trading partners to find a resolution to the trade war. Until then, investors will remain on edge, and the global economy will continue to suffer.
Reflections of resilience and hope
TRISING SUN
HE unfolding of Holy Week is a powerful moment for Filipinos to reflect on our shared experiences—the struggles and the resilience that define us. This sacred period invites us to connect the dots between Christ’s journey and our own as we navigate the complexities of our economic, political, and societal landscape. It’s a time when we come together, united by our hopes and challenges, to find meaning and strength in the stories of sacrifice, suffering, and redemption that shape our faith and our lives.
As the Philippine economy continues to show resilience, it’s clear that our gains often fail to reach those who need them most. A recent survey revealed that nearly half of Filipino families—about 13.2 million—consider themselves poor, up from 12.5 million just months earlier. This disparity is particularly stark in rural areas. Meanwhile, inflation may have eased slightly, but its lingering effects continue to strain household budgets. Additionally, healthcare costs remain a significant burden for low-income families, highlight -
ing gaps in our social protection systems. Holy Week serves as a poignant reminder of Christ’s compassion for the marginalized. The Philippine Development Plan 2023–2028 aims to reduce poverty to single digits, but achieving this goal will require structural reforms that create quality jobs and improve access to education and healthcare. These reforms demand perseverance and collective effort, much like the Stations of the Cross. And for many Filipinos, the daily struggle to afford basic necessities feels like a
Holy Week serves as a poignant reminder of Christ’s compassion for the marginalized. The Philippine Development Plan 2023–2028 aims to reduce poverty to single digits, but achieving this goal will require structural reforms that create quality jobs and improve access to education and healthcare. These reforms demand perseverance and collective effort, much like the Stations of the Cross. And for many Filipinos, the daily struggle to afford basic necessities feels like a perpetual Lenten fast—a constant test of resilience.
perpetual Lenten fast—a constant test of resilience. Despite these challenges, there are signs of hope. Investments in infrastructure and consumption are expected to support growth through 2025. However, these opportunities must be inclusive to avoid deepening existing inequalities. Holy Week’s message of renewal reminds us that economic progress should benefit everyone, not just a privileged few.
Faith has long been a cornerstone of Filipino resilience. During Holy Week, churches are filled with worshippers seeking solace and strength amid life’s trials. This enduring spirituality provides hope even when economic and political realities seem bleak, reminding us that renewal is possible.
Much like the silence and anticipation of Holy Saturday, Filipinos are yearning for renewal amid current eco-political uncertainties and social challenges. Easter’s promise of resurrection offers hope: it teaches us that transformation is possible even after profound suffering. As we move forward, the lessons of Holy Week provide guidance. The sacrifices we endure today can pave the way for a brighter future if approached with faith and determination. Just as Christ rose from the dead, so too can communities rise above adversity through solidarity and compassion.
This Holy Week invites us not only to reflect on spiritual truths but also to confront the realities shaping our nation. It challenges us to carry our modern crosses with courage while holding fast to hope for an eventual resurrection—not just for individuals but for society as a whole.
LRT fare hike: Embracing growth, not just grievances
T. Anthony C. Cabangon
Lourdes M. Fernandez
Jennifer A. Ng Vittorio V. Vitug
Lorenzo M. Lomibao Jr., Gerard S. Ramos
Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso, Dionisio L. Pelayo
Ruben M. Cruz Jr.
Eduardo A. Davad
Nonilon G. Reyes
D. Edgard A. Cabangon Benjamin V. Ramos
Aldwin Maralit Tolosa
Rolando M. Manangan
BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd
HE recent fare hike for the Light Rail Transit (LRT) has sparked a cacophony of opinions, branded by critics as “antipoor” and “burdensome.” Yet, in the heat of this protest, an essential truth remains clouded: the need for this increase is not mere financial appeasement but a vital investment towards a future that transcends daily struggles.
As Secretary Vince Dizon of the Department of Transportation has attempted to clarify, the fundamental issue at hand is not whether we should avoid fare increases, but how we can best catalyze the growth and expansion of our public transportation system— particularly in congested regions like Cavite. The said fare hike is not just a reaction to current economic conditions; it is a strategic move to bolster our infrastructure, ensuring that our transportation system stands firm against the twin threats of urban congestion and population growth.
Consider the transformative journey the Light Rail Manila Corporation (LRMC) has taken since
2015. With the infusion of private investment, the LRT-1 has experienced groundbreaking improvements: an unprecedented 87 percent increase in operational trains, modernized systems that respect the needs of commuters, and the ambitious extension to Cavite currently underway. These advancements, however, come at a price, and we must collectively bear that cost to see future benefits. We cannot ignore the stark contrast with the struggles faced by other state-run transport systems, like the MRT-3. Chronic underfunding and bureaucratic inertia have led to a system plagued by breakdowns and debilitating delays. The LRT-1, by contrast,
If we are serious about creating a clean, reliable, and safe public transportation system, we must acknowledge that adequate funding is non-negotiable. While it may be tempting to expect the government to shoulder the entirety of these costs, that approach is neither feasible nor sustainable. Hence, we must make the case for commuters to contribute their fair share. Yes, the fare increase may provoke anxiety, but let’s put it into perspective: a few extra pesos per ride for a system that serves over half a million daily commuters is a small price to pay for a more efficient transport network.
stands as a shining example of what can be achieved through sustainable investment. We must embrace the uncomfortable truth that enhancing our public transport options will require shared financial responsibility.
If we are serious about creating a clean, reliable, and safe public transportation system, we must acknowledge that adequate funding is non-negotiable. While it may be tempting to expect the gov -
ernment to shoulder the entirety of these costs, that approach is neither feasible nor sustainable. Hence, we must make the case for commuters to contribute their fair share. Yes, the fare increase may provoke anxiety, but let’s put it into perspective: a few extra pesos per ride for a system that serves over half a million daily commuters is a small price to pay for a more efficient transport network. Critics may argue that the fare hike is merely a profit mechanism, and point to the concession agreement’s provision for a 10.25 percent biennial increase, but this is a critical cost-recovery measure intended to keep our transport system viable and competitive. If we neglect this adjustment, we ultimately push the burden back onto the government, jeopardizing funds that could be directed towards essential services like education and healthcare—options we cannot afford to overlook. Some extreme voices call for an outright termination of the concession agreement with LRMC. Such drastic measures not only threaten to dismantle the progress we’ve made but could also undermine investor confidence in our public transport system at large. As the Philippines strives
Atty. Jose Ferdinand M. Rojas II
To be political is biblical Government learning academies
WJoel L. Tan-Torres
DEBIT CREDIT
Part 10
HAT training academy in the world or the Philippines has no physical infrastructure to house its training facilities? The Philippines Tax Academy (PTA). This may be the only institution of this kind that does not have its own physical complex to conduct its training and learning mandate. Let me quickly add the deficiencies in training staff, academic organizational set-up, and a host of other shortcomings that I have been discussing in my previous articles.
It does not matter that we are now in the realm of online learning or virtual classes that allow the conduct of training and academic engagements without the need for inperson interaction. The PTA, which is tasked under Republic Act No.10143 with training the tax collectors and administrators of the land, should have this physical infrastructure to effectively pursue its mandate. The tax officials of the Bureau of Internal Revenue, the Bureau of Customs, and the local government treasures deserve to be effectively trained in a conducive environment.
In 2023, the Department of Finance (DOF) and PTA announced their plan to set up permanent campuses in Tagaytay City in Cavite and New Clark City at the Clark Special Economic Zone in Pampanga. The long-term plan should include setting up campuses in key regional centers throughout the Philippines. ( https://doftaxacademy.gov. ph/?p=1739).
The PTA also plans to team up with the University of the Philippines-Los Baños in offering a postgraduate program on finance and taxation to qualified employees of the DOF and its attached agencies. This proposed joint program will be off-campus and will run for three semesters.
These are sound plans, but to date, I do not see any marked progress in their implementation. The staffing of the PTA is very slow. On December 31, 2021, the Academy had only one organic personnel, a Chancellor II from the Institute of BLGF of the Academy. Other personnel then were designated officers and staff from the DOF in concurrent capacity. It was only in 2022 that former DOF Undersecretary Gil Beltran was appointed as President.
In 2022, the PTA was given a budget of P58.227 million. This amount was the same amount in the budgets that the PTA was provided several years back. A meager amount has also been allocated to the PTA for the subsequent years. For 2023, P98.67 million was allocated, P49,799 million for 2024, and P58.227 million for 2025. This is a miniscule budget
Gagni.
. . Continued from A10
to attract vital infrastructure investments, this gamble poses a catastrophic risk at a time when we must navigate the aftershocks of the Covid-19 pandemic and our soaring foreign debt. As we navigate these complex waters, we must disentangle ideology from practical necessity. This discussion transcends the typical narrative of public versus private interests; it is fundamentally about ensuring safe and efficient transportation for those who need it most. An unreliable train system creates a ripple effect, disproportionately impacting low-income commuters who lack alternative options, forcing them into lengthy, unpredictable journeys.
While dissent is a vital component of our democracy, protests must be rooted in an understanding of public transport
The PTA currently holds office at the DOF Building in the BSP Complex along Roxas Boulevard. It conducts its courses and lectures in several venues, such as the DOF Building, the Bureau of Treasury Ayuntamiento de Manila building in Intramuros, and other venues, including hotels and other privately owned event places.
for the PTA to survive, let alone effectively discharge its mandate.
However, the PTA was not even able to fully utilize these small budgets. The Commission on Audit reports for the past years have always noted the failure of the PTA to spend its budget. The utilization rates for all those years have never exceeded 30 percent of the budget allotted.
The PTA currently holds office at the DOF Building in the BSP Complex along Roxas Boulevard. It conducts its courses and lectures in several venues, such as the DOF Building, the Bureau of Treasury Ayuntamiento de Manila building in Intramuros, and other venues, including hotels and other privately owned event places.
The vision of the PTA is that by 2028, the PTA shall be “a world-class academy transforming institutions on customs tax, and public finance administration towards nationbuilding through professionalization of revenue employees” (https:// doftaxacademy.gov.ph/?p=1739).
These are very ambitious aspirations, but the PTA can and should step up towards this vision.
To be continued
Joel L. Tan-Torres was the former Dean of the University of the Philippines Virata School of Business. Previously, he was the Commissioner of the Bureau of Internal Revenue, the chairman of the Professional Regulatory Board of Accountancy, and Tax partner of Reyes Tacandong & Co. and the SyCip Gorres and Velayo & Co. He is a Certified Public Accountant who garnered No. 1 in the CPA Board Examination of May 1979. He has his own tax and consultancy practice and can be contacted at joeltantorress@yahoo.com and his firm JL2T Consultancy.
funding realities. As we envision a forward-thinking transportation system, let us rally together in support of both public and private investment. This is not merely a time for change, but a critical moment for meaningful progress in our public transportation landscape. Let us unite not just to gripe about fare hikes but to champion the expansive future of our transportation system. Together, we can pave the way for a brighter, more accessible urban experience—one where every commuter can rely on a transit system that meets their needs while contributing to the growth and prosperity of our society as a whole. There is a crying need for us to transform our complaints into a collective call for progress, paving the way for a transportation revolution that empowers every commuter and fuels the growth of our metropolis because the time for action is now.
Siegfred Bueno Mison, Esq.
THE PATRIOT
THOSE in the active military service ought to remain apolitical, with littlest involvement in elections except perhaps protect the sanctity of the ballot when asked by its leaders. Once they retire, they can obviously take part in any political activity even to the point of running for office as in the case of Senators Biazon, Lacson, Trillanes, and Honasan.
In the local scene, former Mayor Fernando Mesa of Alabat and Mayor Benjamin Magalong, both of whom donned the service uniform for several years prior to leading their local government units, remained true to their PMA motto of Courage, Integrity, Loyalty. Known for their brand of discipline and leadership, I think more men in uniform, those of the Mesa and Magalong kind, should continue their service to the country by joining politics. Other retired soldiers, like those who belong to ANIM —Alyansa ng Nagkakaisang Mamamayan—can still help the country by lending their voices for a better set of leaders. As a loose coalition of various sectors such as the youth, business, women, retired military, and the clergy, ANIM is against corruption and political dynasties and promotes electoral reforms. What remains notable is the participation of the clergy in the realm of politics. A handful of political analysts and observers claim that the Church can be the last flicker of hope for the country to have honest elections. After all, it has proven itself almost 40 years ago in 1986 when the Church helped topple a dictatorship in Edsa. These analysts, however, say that the influence of the Church has been overcome through the years by the powerful political and busi-
ness elites. As such, these elites have virtually lorded our country or parts thereof with little accountability and much impunity.
In an interview, Bishop Ephraim Tendero, a former National Director, Philippine Council of Evangelical Churches (PCEC), boldly declared that the Church (the Body of Christ) ought to be political since being political is biblical. For clarity, being political is simply being involved in government affairs not necessarily participating in one. Quoting the Bible in Romans 13:1, which says, “The authorities that exist have been established by God,” Bishop Eph said the clergy can be political by simply being involved in the political process. The best way to be involved is to engage in non-partisan activities during these elections. For instance, the Body of Christ can participate in awareness programs aimed to help voters vote wisely. Like most education programs which do not endorse a particular candidate, Church leaders and goers alike can encourage the voting community to consider the candidates’ 3C—Character, Competence, Commitment to Christ. It is not easy to detect or decipher a candidate’s authenticity during a campaign but his lifestyle can be telling.
Before casting any vote, voters
should have selective amnesia. Forget the singing and dancing during campaigns, but remember and focus on how these candidates treat their families and loved ones during their lifetime. In their unguarded state, not under the limelight, these candidates can expose their true selves, according to Bishop Eph.
Should any candidate be elected, hopefully chosen using the 3C, Bishop Eph said that the Church now has the functions of 3P—priestly, prophesy, and pastoral. The clergy should keep on praying for these elected officials as part of their priestly role in the community. I remember one pastor doing such service to a city mayor of Parañaque decades ago. Such priestly intervention even led to a city resolution that placed the phrase “Dedicated To God” in the city logo.
In terms of their prophetic roles, the clergy should affirm what was planted in the heart of the elected official. Mayor Magalong is one leader who has remained true to the promises of the Bible as he was blessed with a regular team of Christ-centered individuals led by Niels Riconalla of the Fellowship of Christians in Government (FOCIG) who regularly conducted bible studies for the city workers in Baguio City.
The last part of the 3P functions of the clergy is pastoral as in shepherding these leaders towards a life of service with righteousness in accordance to what the Bible promised—“For the one in authority is God’s servant for your good… They are God’s servants...”(Romans 13:4). Hence, it is easier to have a leader whose heart belongs to Christ at the onset. As my pastor friend told me—proper selection leads to lesser correction.
Ergo, it is crucial for the body of Christ—clergy and its members, to be political as it is biblically based.
“But select capable men from all the people—men who fear God,
trustworthy men who hate dishonest gain…Have them serve as judges for the people at all times, but have them bring every difficult case to you; the simple cases they can decide themselves. That will make your load lighter, because they will share it with you.” (Exodus 18:21-22). Our elected leaders, even those appointed ones by those elected, ought to make our load as a Filipino believer lighter, not heavier. Our loads cannot be instantly lighter and easier by way of doleouts whenever funds, either private or, worse, public, are distributed during the campaign period. Our loads can be lighter if we vote wisely and put Filipinos in leadership positions who have the 3C—Character, Competence, and Commitment to Christ. Easy to say “vote wisely,” but harder to do. While it may seem impossible to have a mature Filipino electorate, we, the believers, trust with confidence that nothing is impossible with God. Amidst this pervasive feeling of hopelessness, Filipino believers should be reminded by this instruction: “I will trust and not be afraid. The Lord, the Lord himself, is my strength and my defense; he has become my salvation.” (Isaiah 12:2). So, as Bishop Eph suggested, whether we are leaders or followers of the Church, we should remain hopeful and be political, not necessarily partisan. Let us all keep praying for our leaders and for our country.
A former infantry and intelligence officer in the Army, Siegfred Mison showcased his servant leadership philosophy in organizations such as the Integrated Bar of the Philippines, Malcolm Law Offices, Infogix Inc., University of the East, Bureau of Immigration, and Philippine Airlines. He is a graduate of West Point in New York, Ateneo Law School, and University of Southern California. A corporate lawyer by profession, he is an inspirational teacher and a Spirit-filled writer with a mission. For questions and comments, please e-mail me at sbmison@gmail.com.
Fed’s deepest tariff fear is a price shock that won’t fade away
By Maria Eloisa Capurro
IF President Donald Trump’s tariffs jack up US consumer prices —as pretty much everyone thinks they will, at least for a while— then that’s already bad news for inflation-fighters at the Federal Reserve. It could also open the door to something even worse.
What businesses and workers anticipate will happen to prices, economists say, can play a key role in determining what actually does happen. That’s why Fed officials always keep a close eye on estimates of future inflation—and the latest ones show cause for concern. The benchmark long-run expectations gauge, which had already climbed to a 30-year high since Trump’s election, soared higher still on Friday after his sweeping global tariffs.
That kind of mindset could help turn a one-time price hit from Trump’s trade war into a more persistent inflationary impulse. The risk is all the greater because it’s surfacing at a time when American households are still shaken by the post-pandemic price spike—and may not trust the Fed to head off another one.
Consumer and business estimates of future inflation open a window into the public’s faith in central banks and their ability to tame prices. When that’s eroded, especially over the longer run, monetary theory suggests that policy becomes less efficient. In concrete terms, interest rates have to go higher than they’d otherwise need to, until trust is regained.
‘We have a problem’
A SHARP rise in long-term expectations would signal a loss of faith in the Fed’s ability to bring inflation back to 2 percent. “That would worry me,” says Jeffrey Fuhrer, a former director of research at the Boston Fed who’s now with the Brookings Institution.
To be sure, that’s not what most surveys are pointing to. But even without an erosion of trust on that scale, a trade war could make the
Fed’s job harder, Fuhrer says. If consumers face tariff-led price hikes well above 3 percent over the next year, they may decide that’s the new normal, and build it into their everyday calculations. Workers would demand higher wages while firms adapt their pricing plans. “Then we have a problem,” he says. “And we don’t need that problem right now.”
The key measures of US inflation as of March stood around 2.5 percent, far below their 2022 peaks but still stubbornly above-target. Most economists expect a pickup in the coming months, as tariffs make imported goods more expensive.
Consumers in the latest University of Michigan survey are expressing the same concern. They see prices rising 6.7 percent in the coming year, and at an annual rate of 4.4 percent over a 5 to 10-year horizon—multidecade highs in both cases. While some economists question Michigan’s methodology, the Conference Board’s year-ahead gauge also surged since December.
Other data sets, though, paint a less alarming picture. Market measures such as five- and 10-year breakevens based on Treasury bonds are hovering around the Fed’s 2 percent goal. The latest New York Fed Survey of Consumer Expectations, for February, showed three- and five-year inflation estimates unaffected by trade-war fallout at around 3 percent. The March survey is due out on Monday.
That’s prompted Fed Chair Jerome Powell to say the Michigan results are an “outlier.” Still, Powell and his colleagues are watching inflation expectations closely, as they try to map a path through the trade war.
“One of the very important as-
Consumer and business estimates of future inflation open a window into the public’s faith in central banks and their ability to tame prices. When that’s eroded, especially over the longer run, monetary theory suggests that policy becomes less efficient. In concrete terms, interest rates have to go higher than they’d otherwise need to, until trust is regained.
sets that the Federal Reserve has is its credibility, and that is manifested in anchored longer-term inflation expectations,” Boston Fed President Susan Collins told Yahoo Finance on Friday. She also said the tariff impact will likely be “more broad-based than many people realize.”
Fed officials had already revised growth estimates down, and inflation up, before Trump’s tariff announcements this month. Since then a number of them have warned that consumer prices could rise around 4% this year. It’s given policymakers reasons to refrain from rate cuts—even as fears of a slowdown mount—and instead hold borrowing costs steady.
‘Deeply wounded’ Until the last few years, US inflation had been stable enough for long enough—essentially since the early 1990s—to keep future expectations in check. The price shock that followed the pandemic and the war in Ukraine has changed the picture. It’s turned inflation into front-page news, and that’s feeding through into the forward-looking gauges.
American consumers “have yet to really recover,” says Joseph Brusuelas, chief economist at RSM US LLP. They’re responding to inflation surveys “in such a way that speaks to their current mindset—which is, they remain deeply wounded.”
Of course, there’s no automatic link from expected to actual price
rises. That’s especially true in the US, where built-in inflation indexing for labor contracts or rents is less common than in many other countries. Some economists have questioned whether price expectations really contain much useful information. Still, the consensus is that they do—and that’s based on research that stretches across history and around the world.
Michael Weber, a professor at the University of Chicago, has studied the fallout from Germany’s hyperinflation after World War I. Even though a century has passed, he found that people in towns with higher inflation back then are still prone to have higher expectations for prices today—and their local politicians are more likely to talk about it. For central bankers, too, past experience with inflation can shape their approach. Lately, some of the Fed officials who’ve more publicly voiced concern over the expectation surveys are those with an international background, or links to highinflation countries in Latin America.
“Even if you are a central banker, the weight you put on inflation depends on your upbringing, where you’re from,” Weber says.
All the accumulated experience from countries that are more accustomed to inflation shocks holds some valuable lessons for Powell and peers, according to Ricardo Reis of the London School of Economics. Among them: Look at a wide range of measures, grasp that above-target expectations can result in lasting shocks, and take swift action when needed.
Reis says the pandemic price spike has been a useful reminder to developed-world central banks of the importance of inflation expectations as a mirror of their own credibility.
“Ignoring them, talking about transitory things, pretending the problem is not there, is not what you should do,” he says. With assistance from Augusta Saraiva, Jonnelle Marte and Alex Tanzi /Bloomberg
Monday, April 14, 2025
DENR to Masungi lawyers: Get client’s ‘consent’ first
By Jonathan L. Mayuga
THE Department of Environment and Natural Resources (DENR) is bent on implementing the cancellation order of a 2002 Supplemental Agreement with Blue Star Construction and Development Corporation (BSCDC) for a controversial housing project near the award-winning Masungi Geopark in Baras, Rizal.
Blue Star and Masungi Georeserve Foundation, Inc., which runs the Masungi Geopark, are mainly composed of the Dumaliang family— Ben and his two daughters, Ann and Billie. Documents obtained by BusinessMirror revealed that the canceled contract pertains to the construction of 5,000 housing units on 300 hectares of land called Lot 10, on top of 5,000 additional housing units to be constructed on 130 hectares of land in another area as stipulated in the original Joint Venture Agreement signed in 1997.
“We will implement it. But we want to strictly observe legal processes and ensure due process of law,” DENR Assistant Secretary for Legal and Enforcement Norlito Eneran told the BusinessMirror a day before the Blue Ribbon Committee began the initial public hearing to look into the DENR decision on Friday, April 10. During the hearing, Bilie Dumaliang turned the tables on the DENR and blamed the agency for failing to deliver its end of the deal in clearing the area where the housing units are to be constructed. She accused the DENR officials
of refusing to meet with Masungi officials to thresh out the problems that led to Blue Star’s failure to complete the project. Before suspending the hearing, the Senate Blue Ribbon committee led by Senator Peter Cayetano ordered the creation of a technical working group to look into the legal aspects of all contracts between the DENR and Masungi which are still currently being reviewed by the DENR. These include the 1997 JVA itself, a 2006 JVA amendment, a 2008 MOA wherein Blue Star negotiates to exchange the 5,000 housing units in the 130 hectare project site—Garden Cottages, including a community center, school site, rights of way for the access of roads, springs, spring mains, and improvements for 145 housing units in the 1.5 hectares Pueblocillo Village in Dasmarinas, Cavite.
Eneran revealed that the DENR has already received two letters from lawyers claiming to represent Masungi. But instead of a motion for consideration, the first letter merely refutes the legal basis of the 2002 Supplemental Agreement cancellation order, and another letter “appeals” to the DENR not to implement the order.
To avoid problems of legal technicalities, Eneran said they will ask lawyers and or law firms claiming to represent Masungi Georeserve Foundation, Inc. to secure a document from their client stating that it conforms with the legal representation.
Eneran said what they expect from Masungi is a document signed by authorized representatives conforming with their assigned lawyers or
law firms.
According to Eneran, it is imperative to establish the legal representation of Masungi Georeserve before it begins evaluating any communication in response to the DENR order, adding that this is in case the Dumaliang family eventually decides to elevate the case to the court.
He maintained that the cancellation order handed down by the DENR stands on legal grounds and is a result of a decade of investigation triggered by a 2014 Commission on Audit Report citing the legal infirmities and violations of the Supplemental Agreement itself and the 1997 Joint Venture Agreement entered into by the DENR and Blue Star Development Corporation Inc.
Eneran said the subject lands straddles three overlapping Protected Areas which, under the law, must strictly comply with environmental rules and regulations under the National Integrated Protected Areas System (NIPAS) Act as amended.
This includes the application for Special Agreement on Protected Areas (SAPA), wherein the DENR conservation partner must pay a tax equivalent to 3 percent of the value of adjacent land, plus 1 percent for development.
Under the NIPAS Act, a Protected Area Management Board is the highest policy-making body when it comes to managing its operation. It is composed of a broad stakeholder representation that includes, among others, the DENR and other concerned national agencies, local
Tand unfair practices.
These member-economies also issued the statement as they commemorated the 30th anniversary of WTO, the only international organization dealing with the rules of trade between nations.
“We recommit ourselves to abide by the WTO’s binding rules, which have provided certainty and predictability for businesses, built trust and confidence among consumers, and underpinned the growth of international trade and development,” 39 out of 166 members of the WTO noted in their joint statement.
To adjust to the changing global trade and economic environment and enable trade to serve as an “engine of growth and prosperity for
tions,” the statement noted. As such, these members committed to explore “innovative” approaches that will enable the WTO to deliver meaningful outcomes and restore a fully and well-functioning Dispute Settlement System.
Moving forward these WTO membereconomies said there is a need to “recommit to pursue reforms so that the WTO will continue to respond to the needs of its diverse Membership, reinforce its relevance by responding to the cooperation, including by enhancing trade capacities.”
The WTO members that signed the statement: Albania; Australia; Kingdom of Bahrain; Brunei Darussalam; Cabo Verde; Cameroon; Canada; Costa Rica; Fiji; The Gambia; Guatemala; Hong Kong; China; Iceland; The State of Kuwait; Kyrgyz Republic; Lao People’s Democratic Republic; Liberia; Liechtenstein; Malaysia; Republic of Moldova; Mongolia; Montenegro;
land; Separate Customs Territory of Taiwan; Penghu; Kinmen and Matsu; Turkiye; Ukraine; United Arab Emirates; United Kingdom; Uruguay; Vanuatu and Yemen.
In a social media post by Department of Trade and Industry’s (DTI) Bureau of International Trade Relations (BITR) over the weekend, the international trade arm of DTI said: “Supported by 39 WTO Members including the Philippines, the statement acknowledged the WTO’s achievements and called for a renewed commitment to reforms to ensure that the organization remains responsive to the needs of its diverse membership.”
These members explained the importance of a rules-based multilateral trading system in the face of global supply chain disruptions and rising protectionism, among others.
“We therefore reaffirm the central and indispensable role of the WTO at the core of the rules-based multilateral trading system, which
government units which has political jurisdiction over the area, civil society or nongovernment organizations, community-based organizations, the private sector, and the scientific community and or the academe.
Under the Masungi management, only the Blue Star and Masungi Georeserve Foundation Inc. have full control over the vast tract of land.
Eneran lamented that even the DENR, which is the primary government agency and regulatory body mandated to protect and conserve the country’s environment and natural resources, is kept in the dark about any of the conservation activities of Masungi; and its employees are barred from entering the territory—one of the violations of the 1997 JVA and 2002 Supplemental Agreement that led to the contract’s cancellation.
The other violations are the imposition of fees not provided for in the Masungi Rock EcoTourism Plan; Construction of various facilities inside the park without necessary permits and clearances from local and national authorities, fencing a portion of Lot 10 titled in the name of the Republic of the Philippines in violation of Section g of the Municipal Ordinance No. 2013411, and DPWH Administrative Order No. 73, series of 2014 and Section 12.1 of the JVA itself.
Lastly, the non-completion of the project within the stipulated period from the execution of JFA despite the extensions granted was also cited as another reason in canceling the 2002 Supplemental Agreement.
THE country’s meat imports grew by a third in February due to bigger pork, chicken, and beef purchases abroad, based on latest government data.
Figures from the Bureau of Animal Industry (BAI) showed that meat imports rose by 33.66 percent to 237,681 metric tons (MT) in February from 177,819 MT recorded in the previous year.
Pork shipments recorded the highest increase as it surged by 52.02 percent in the second month of the year to 124,047 MT from 81,602 MT in 2024. The bulk of the imports were offals and pork cuts at 44,967 MT and 43,964 MT, respectively.
The Meat Importers and Traders Association (Mita) said African swine fever (ASF) outbreaks which upended the supply chain since its detection in 2019 are still behind the growth of the protein source’s imports.
“The ASF continues to plague the country. At the same time poultry production is grappling with high input costs,” Mita President Emeritus Jesus Cham said.
BAI data also indicated that chicken imports grew by 22.29 percent to 77,310 MT in the reference period from 63,221 MT last year. Bulk of the shipments were mechanically deboned meat (MDM) at 42,880 MT, with chicken leg quarters trailing behind at 18,624 MT.
Beef shipments expanded by 34.91 percent to 32,386 MT in February from 24,005 MT in the same period last year. A chunk of the imports consisted of beef cuts at 21,150 MT.
However, while imports of the favorite meat products of Filipinos recorded
growth, other products like turkey registered declines in February, based on BAI data.
In particular, buffalo meat imports fell by 55.53 percent to 3,808 MT from 8,563 MT in the previous year. Turkey and duck shipments also shrank by 90.55 percent to 29 MT from 307 MT and 44.44 percent to 18 MT from 33 MT, respectively.
Meanwhile, Cham noted that the delay in the minimum access volume (MAV) allocation could have an effect on the country’s meat imports.
“The DA [Department
integrity,” ADB said.
Evelyn Dumaguin Arranza
The current economic contribution of ocean-based industries made up about 4 percent of the country’s gross domestic product (GDP) on average from 2018 to 2023, according to ADB.
The fisheries sector accounted for nearly 30 percent of oceanbased industries in 2023, followed by manufacturing of ocean-based products, maritime transport and ocean-based power generation.
Marine biotechnology, coastal tourism, and offshore renewable energy are seen as emerging industries, presenting vast opportunities for expansion, ADB said.
Coastal tourism is seen to offer extensive employment opportunities and drive local economies. Meanwhile, marine renewable energy, such as offshore wind, solar, wave and tidal energy, can help reach the country’s target of increasing renewable energy’s share in power generation to 35 percent by 2030 and 50 percent by 2040.
Hurdles flagged , ADB flagged hurdles in creating a sustainable blue economy, such as environmental degradation, poverty among coastal communities, marine plastic pollution and lack of a coordinated national strategy.
“Marine and coastal resource management is fragmented across multiple government agencies, leading to inefficiencies and regulatory gaps. The absence of a comprehensive, cross-sectoral policy framework hinders sustainable development efforts,” ADB said. The multilateral bank advised the government to enact the Blue Economy bill as policy action to fully harness the country’s blue economy. The Senate has approved on third and final reading the Blue Economy Act, which ADB said would help achieve a “coherent and well-coordinated” strategy if swiftly passed. The pending legislation will also provide a comprehensive policy framework, integrating marine spatial planning, environmentaleconomic accounting,
Editor: Jennifer A. Ng
B1 Monday, April 14, 2025
Meralco, French firm team up to study nuclear power
By Lenie Lectura
TO further accelerate nuclear adoption in the Philippines, the Manila Electric Co. (Meralco) has partnered with state-controlled French multinational electric utility company Electricité de France SA (EDF) for nuclear energy deployment in the country.
Under the 2-year memorandum of cooperation (MOC), EDF will provide technical and strategic support to Meralco for a feasibility study focused on site activities, power system integration, and the economic viability of nuclear power in the country’s energy mix.
7-Eleven growth pinned on franchise group
The EDF will also deliver customized training sessions on nuclear reactor technology and nuclear project management. Also, the French electric utility company will extend assistance and services to Meralco to implement a potential nuclear energy program in the country.
PHILIPPINE Seven Corp., the exclusive operator of 7-Eleven stores in the Philippines, credited its partnership with Philippine Franchise Asia as instrumental in its efforts to revolutionize the conve-
Freshly Brewed
They will also work together to seek funding, including from the French government, to support nuclear adoption in the Philippines.
“One of Philippine government’s key objectives is to achieve greater energy security for our country and nuclear power is one viable path toward that goa. We see this cooperation as a significant first step for Meralco and we are committed to taking a leadership role in advancing nuclear energy in the Philippines,” said Meralco Chairman Manuel V. Pangilinan.
This partnership builds on Meralco’s various engagements with Université Paris-Saclay (UPS) and top nuclear institutions in France for possible collaborations on capacity building and knowledge sharing.
Meralco, along with Meralco Power Academy (MPA), partnered
nience store sector in the Philippines.
“Our partnership with PFA has been instrumental in establishing standards of excellence in the franchise industry,” company’s Philippine Seven President and CEO Jose Victor P.
with UPS as a partner institution for its Filipino Scholars and Interns on Nuclear Engineering (FISSION) program which cultivates the next generation of strong innovators in the field of nuclear energy by enhancing the competencies of Filipino energy professionals.
They also engaged several French government research and industrial institutions such as the Nuclear Safety and Radiation Protection Authority, and The French Alternative Energies and Atomic Energy Commission among others to explore potential partnerships.
“Through this important first step, we hope to make real progress at your site as well. This is the beginning of what we envision as a remarkable long-term journey one that could span the next hundred years,” said EDF Senior Vice President for International Development Vakisasai Ramany.
Paterno said. “By actively participating in national and regional expos, we’ve helped elevate the professionalism of franchising while creating viable business opportunities for Filipino entrepreneurs.” VG Cabuag
Legal path explored in power co-op case
THE Northern Davao Electric Cooperative, Inc. (Nordeco) is working on a legal remedy to uphold its franchise following the passage of a law that expanded the franchise by Davao Light and Power Co. (DLPC) to areas covered by Nordeco.
“Nordeco strongly opposes this law and shall pursue all available legal remedies to defend the sanctity of the cooperative’s franchises, the welfare of its member-consumer owners, and the integrity of the rural electrification program,” said the electric cooperative.
Republic Act (RA) 12144, which lapsed into effect on April 6, 2025, reassigns portions of Nordeco’s franchise areas—Tagum City, the Island Garden City of Samal, and several municipalities in Davao del Norte and Davao de Oro—to the DLPC.
A statement issued by Nordeco read that the enactment of this law by the inaction of the President raised significant legal concerns, particularly regarding potential violations of established franchise boundaries as it has been declared by the Supreme Court that franchises are property rights within the concept of the constitutionally guaranteed due process clause.
“We emphasize that the alteration of franchise territories
through legislative fiat, without proper consultation with affected stakeholders and in disregard of regulatory due process, sets a dangerous precedent that undermines both the legal framework governing electric cooperatives and the rights of the communities they serve,” Nordeco said.
It called on its member-consumer-owners for continued support, as it vowed to uphold its valid and existing franchises. “We will not yield even an inch of Nordeco’s franchises,” it added. “This will come to pass. We can all overcome this challenge as we did in decades.” Nordeco said this move infringes on its existing and legally granted franchises, which it claimed remain valid and binding under Presidential Decree 269, the Electric Power Industry Reform Act and the National Electrification Administration Reform Act— which, it stressed, are the reasons that made the new law “unconstitutional.” Lenie Lectura
At MakatiMed, the future is now with its global stamp of approval and robotics surgery and robotic surgery system
By Francine Medina
TURNING 55 on May 31, 2025 and opening its doors in 1969, the Makati Medical Center has long carved its name in the hospital industry for its legacy of excellence and patient-focused services that has made it among the premier hospitals in the region.
As it turns another year older, the hospital continues to trailblaze paths that include its unprecedented re-accreditation in the 8th edition of the prestigious Joint Commission International (JCI) and for its proverbial step into the future of hospitals with its acquisition of state-of-the-art robotic surgery system.
In yet another engaging discussion of the trending topics that directly affect the lives of Filipinos, “Freshly Brewed” puts the spotlight on Makati Medical Center (MMC) through its Interim President and CEO, Dr. Saturnino Javier, who recently joined BusinessMirror Health and Fitness editor Anne Ruth Dela Cruz to talk about what's up at this distinguished medical institution.
Game-changing re-accreditation
CELEBRATING its 55th anniversary on a vibrant note, MMC recently received its reaccreditation for the 8th edition of JCI, which makes it the first hospital in the country to do so. JCI accredited hospitals undergo reaccreditation every three years.
Dr. Javier said that the path towards the re-accreditation isn't an effortless journey as the accrediting body yearly raises the bar of their metrics for safety and quality. This year, for instance, sustainability metrics were included for the first time.
“The environmental metrics tell us that we should also watch our carbon footprint in terms of preserving the environment. So, we have embraced it as well in our accreditation,” observed Dr. Javier.
The re-accreditation is important in conveying to patients MMC's dedication to quality. He said, “The re-accreditation means that patients of Makati Med are assured that they will be served with the standards that they deserve in terms of quality and safety. And these standards have been reviewed and have been considered passed by JCI parameters. It only means that the hospital will keep rendering this kind of healthcare with parameters that are global in its implementation.”
Besides JCI, MMC has also received
the Gold Accreditation from Investors to People Philippines (IIP), which recognizes the company's achievements in people management. as well as ISO 9001:2015 for complying with the organization's quality standards for hospital services.
Stepping into the future
ANOTHER milestone for the hospital is its acquisition of the Da Vinci Robotics System which ushers in the emerging worldwide use of robotics surgery into the august institution. Known mainly for gynecological, urological, hepatobiliary, and prostate procedures, Dr. Javier said that the robotics system is also useful for colorectal, ENT, and cardiothoracic procedures.
Equally important, the MMC head added, the hospital has doctors who underwent training abroad and are now looking forward to applying what they have learned. Besides that, MMC is also conducting its own training for its doctors and technicians.
Robotics surgery comes with a high cost in the Philippines–a little more than a half million to a million pesos, or more, depending on the patient's case. But inasmuch as that is the reality, Dr. Javier, commented that the efficiency and safety provided by roboticsassisted surgery outweigh the cost in the long-run.
“At face value, it is expensive. But, if you equate it with productivity, the quality of life will not be compromised because it is a minimally invasive procedure unlike formal invasion or surgery with wide incisions and with a long duration of surgery,” he said.
Robotics-assisted surgery procedures entail a shorter period of time and with less complications, Dr. Javier said, which lets the patient have a quicker recovery time, “It allows them to resume work and go back to being his or her usual productive self. This may not be the case in standard surgery. So, if you try to balance things out with what you are able to not give up after robotics surgery, then it's well worth it.”
Likewise, MMC is exploring Artificial Intelligence (AI) in its healthcare services. He added, “Some of our machines are venturing into those realms. There are also some acquisitions that have integrated AI, at least, to a small degree. But not yet the full-scale AI that we know is being touted in
media. But sooner or later, this will become another thrust or initiative that Makati Medical Center will be part of.”
At the same time, Dr. Javier underscored the importance of a well-trained team in handling these technologies. “At this point in time, no one can deny the emerging importance of AI in healthcare and in many fields where it should be useful. and productive—radiology, cardiology. evn surgery,” he commented, “But one thing that people should remember is that AI should only be used as a tool. You still need the human competence and expertise to make use of that tool to its full potential.”
Expansion and integration
BRINGING its patient-centered services, especially on mental wellness, even further, MMC has also launched MINDS, which refers to the Makati Medical Center Institute of Neurological, Neurosurgical, and Behavioral Sciences.
“These three departments are now under one umbrella. The Department of Neurology, Psychiatry, Neurosurgery. They are all related
fields. What it will accomplish is that it will be able to integrate all the various services being offered by each of these departments under one house or under one roof. The possibility of inter-referral, among the different systems becomes easier to accomplish. It's integrated, more streamlined and, therefore, patients don't have to worry about how to go about things. It will be handled for them.”
Along with MINDS and aligned with its commitment to continued growth and constant quest for quality, it launched the Makati Medical Center Heart Institute in early 2024. In the coming weeks, Dr. Javier announced that MMC will be launching its Cancer Institute, which will have the same scheme as MINDS where the various related disciplines are integrated under one roof.
To make its topnotch services even more accessible to the public, MMC has opened satellite centers offering outpatient care services in Araneta City in Cubao, Discovery Primea in Makati City, and at the Ayala North Exchange Mall, which is also in Makati City. According to Dr. Javier, “These centers render the same kind of services as
Puregold sets aside ₧6.35B
By VG Cabuag @villygc
PUREGOLD Price Club Inc., an operator of a chain of grocery stores in the country led by businessman Lucio L. Co, announced recently it will spend some P6.35 billion this year, about half of which will be spent to boost its S&R brand, both for warehouse clubs and the quick service restaurants (QSR).
This year’s spending is lower than the previous year’s P8.1 billion in capiutal expenditure (capex) budget. Some P1.9 billion will be spent
STOCK-MARKET OUTLOOK
LAST WEEK
this year to build 30 new Puregold stores in the country and P3 billion to build three S&R warehouse clubs and 14 S&R restaurants, according
to the listed firm. The company will also allocate some P200 million for logistics capex and P1.25 billion for maintenance capex, solar projects and some IT upgrades.
The 27-year-old company also expects to grow revenues this year between 6 percent and 8 percent. Puregold, likewise, revealed it sees gross profit margins for Puregold stores growing between 15.5 percent and 16.5 percent and for S&R warehouse from 21.5 percent to 22.5 percent.
The company’s net income last year grew 21 percent to P10.4 billion from the previous year’s P8.6 billion, driven by strong topline growth and the improvement in gross margins for the S&R business.
Consolidated revenues grew 10 percent to P219.17 billion from P199 billion in 2023. For the full year 2024, the company said it had positive same
store sales growth of 4.5 percent from Puregold stores and 6.4 percent from S&R Warehouse clubs driven by higher traffic and basket size. Income from Puregold stores alone grew 13 percent to P6.52 billion from the previous year’s P5.77 billion, while profits from S&R increased by 20 percent to P5.18 billion from the previous P4.3 billion.
“Our company has delivered record-breaking earnings, demonstrating resilience and strong performance even in the face of challenging market conditions. This success is a direct result of the sustainable growth and proven profitability of our core business,” Puregold President Ferdinand Vincent P. Co said. The company operates a total of 602 stores nationwide comprising 511 Puregold stores, 29 S&R stores and 62 S&R New York Style QSRs.
SHARE prices dropped for the fifth straight week, mainly as a knee-jerk reaction to reciprocal tariffs imposed by US President Donald Trump, who later
pause after doubling down on China.
The benchmark Philippine Stock Exchange index fell 1.75 points to close at
points. The main index fell more than 4 percent early in the week, but was able to regain most of it by Friday as global markets stabilized.
The Bangko Sentral ng Pilipinas also, as expected, cut its policy rate by 25 basis points, which gave the market it needed impetus.
Average daily trading for the four-day trading week was higher at P8.77 billion, thanks to the huge volume of trade on Monday and on Thursday. Foreign investors, who cornered less than half of the trades, were net sellers at P3.72 billion.
All other sub-indices ended mixed. The broader All Shares index were down by 21.68 points to 3,621.76 points, the Financials index were unchanged at 2,388.28, the Industrial index lost 66.63 to 8,525.06, the Holding Firms index was up 39.25 to 5,065.97, the Property index retreated 44.89 to 2,175.17, the Services index rose 2.70 to 1,913.99 and the Mining and Oil index climbed 125.17 to 9,506.03.
For the week, losers outnumbered gainers 149 to 87 and 21 shares were unchanged.
The top gainers were Pacifica Holdings Inc., AbaCore Capital Holdings Inc., Premiere Horizon Alliance Corp., Boulevard Holdings Inc., Medco Holdings Inc., Omico Corp. and Imperial Resources Inc.
The top losers, meanwhile, were Philweb Corp., Anchor Land Holdings Inc., Philippine Infradev Holdings Inc., Dizon Copper-Silver Mines Inc., Now Corp., Manila Bulletin Publishing Corp. and Far Eastern University Inc.
THIS WEEK
SHARE prices may again try to climb this week as the market is deemed to be at attractive levels, and it may see episodes of bargain hunting.
It will be a three-day trading week in observance Maundy Thursday and Good Friday of the Holy Week.
“Hopes of further easing by the Bangko Sentral ng Pilipinas moving forward may also compel investors to take positions (this) week. However, worries over the global economy amid the US’ protectionist policies and the possibility of retaliation by other countries may continue to weigh on sentiment,” Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc., said.
Tantiangco said investors are also expected to maintain a cautious stance especially by the end of the shortened trading week as they take into consideration the uncertainties on the days the market is closed.
Meanwhile, broker 2TradeAsia said that Trump’s continuous shifting stance on tariffs— moving between escalation, suspension and retaliation—has caused extreme volatility across global markets this week, particularly in export-heavy Asia.
China’s response adds another layer of complexity, according to 2TradeAsia.
“Our view remains that the Philippines is shielded by a consumption-led economy and low export dependence, which means direct exposure is limited.However, potential risk-off sentiment likely being extended, with potential multi-year spill-over, now a war of attrition, means additional currency realignment pressures, risk-off flows and supply chain shifts,” it said, adding that these may have more structural impacts to valuations down the line.
“Trade and monetary policies are constantly and quickly shifting, but fortunately not unraveling. Brace for whiplash from developing trade war headlines, but the recent proactive move from the BSP should reinforce macro stability and provide a tailwind for local liquidity, which supports our case for continued selective risk exposure in local equities,” 2TradeAsia said.
Chartwise, the local market’s support is still seen at 6,000 points and resistance at 6,400 points.
STOCK PICKS
BROKER Regina Capital Development Corp. gave a trade the range on the stock of BDO Unibank Inc. (PSE: BDO)
While BDO fell 2 percent, it remains traded above all key moving averages.
“However, a bearish outlook is seen through the MACD [moving average convergence divergence], given the red histograms, while the RSI [relative strength index] is now at a neutral territory of 50.10. The DMI [directional movement index], on the other hand, contradicts these sentiments, as buyers prevail over the sellers, with an ADX [average directional index] level of 21.47,” it said.
BDO closed at P160 apiece.
Meanwhile, the broker advised to sell on rallies on the stock of Jollibee Foods Corp. (PSE: JFC) as it continues to trade below moving average levels.
“The stock [JFC] continues to be at the bearish level of 35.23, with the MACD highlighting a strong selling momentum, given the tall-red histograms. Additionally, the bearish sentiment is reinforced by the DMI,
➔ Sun Life disbursed over P6B
Banking&Finance
SUN Life of Canada (Philippines) Inc. revealed it has disbursed more than P6 billion in in claims, maturities and other benefits to its policyholders in 2024. The local business of Sun Life Assurance Co. of Canada generated the highest amount of revenue from insurance policy sales among all life insurers in the Philippines last year. Data from the Insurance Commission showed Sun Life Philippines’s premium income rose to P57.155 billion as of the end-2024. Its net income has hit P10.982 billion. Sun Life Philippines recorded a net worth of P52.420 billion as of the end of 2024, higher by 6.27 percent from P49.325 billion in 2023. According to the insurer, it has more than 20,000 advisors, 96 new business offices and 80 client service centers nationwide. Reine Juvierre S. Alberto
➔ Union Bank bags award on AI use
THE Aboitiz-led Union Bank of the Philippines announced it was honored for “Best Learning and Development Programme and Trailblazing Use of AI (artificial intelligence) or Machine Learning in Financial Services” by GlobalData Plc., publisher of Retail BankeR inteRnational (RBI) magazine. These awards, given during the “16th Annual RBI Asia Trailblazer Awards,” underscore the bank’s efforts to equip employees with advanced skills and leverage AI to enhance customer experiences and transform banking operations, a statement by the lender read. “This year’s winners demonstrated key industry trends, including AI-driven hyper-personalization, cross-border banking innovations, financial inclusion and sustainability-focused banking models,” Globaldata Group Commercial Director Sonia Kerrigan was quoted in a statement as saying. VG Cabuag
➔ Visa, UMSI ink deal
VISA Inc. announced having partnered with USSC Money Services Inc. (UMSI) on a strategic issuing and money movement partnership to launch “Visa Direct” in the Philippines, which “remains strong in the outbound money movement market, particularly for business-to-business payments.” Visa’s 2024 report reveals that there is a $151-billion outbound market opportunity, the majority of which cover business-related flows. These include supplier payments, export/import, merchant settlement, and overseas procurement for goods and services for many small and medium enterprises. Visa Direct facilitates the transfer of funds directly to eligible Visa Direct cards, bank accounts, and wallets in many jurisdictions around the world. Visa Direct reaches over 11 billion endpoints across more than 195 countries and territories and 150 currencies. “Visa Direct aims to be Asia Pacific’s premier real-time payment platform by focusing on continuous innovation and expanding collaborations with banks, fintechs, and digital wallets,” Visa Country Manager for the Philippines Jeffrey V. Navarro was quoted in a statement as saying.
➔ PDIC to bid out Bukidnon assets
THE Philippine Deposit Insurance Corp. announced it will sell 40 closed bank assets located in Bukidnon province through electronic public bidding (ebidding) from May 14 to May 15. Electronic bids will be accepted through the PDIC e-bidding portal, https://assetsforsale.pdic.gov.ph, starting at 9:00 a.m. on May 14 until 1:00 p.m. on May 15, and will be opened at 2:00 p.m. on May 15, read a statement issued by the PDIC. To be sold on an as-is-where-is basis, the properties include 38 vacant residential lots, one residential lot with improvements, and one agricultural lot with improvements. Ranging from 630 to 62,939 square meters, the properties are in Valencia City and the Municipality of Libona, Bukidnon. More information could be found on the PDIC website’s homepage at www.pdic.gov.ph
➔ Fintech, PalawanPay partner
FINANCIAL technology (fintech) firm Skyro Lending Inc. announced it has partnered with PalawanPay financial app operator PPS-PEPP Financial Services Corp. Through this partnership, Pala wanPay users can now easily apply for a Skyro cash loan directly within the app. Once approved, the loan of up to P250,000 will be credited to their PalawanPay e-wallet, with monthly payments of up to 12 months, a statement issued by Skyro read. To qualify for a loan, an applicant must be a Filipino citizen, at least 18 to 70 years old, have a smartphone and a Philippine mobile number, and be a verified PalawanPay customer. They must also present at least one valid governmentissued ID such as SSS ID, Philippine passport, UMID, PhilSys, driver’s license, PRC ID, or Postal ID. Skyro said it now has over 700,000 active loan customers nationwide.
➔ Lender named top brand among UKBs
THE Security Bank Corp. announced it was named last month as the “Top Brand in Commercial Banking in the Philippines by Influential Brands” at the “Asia CEO Summit & Awards Ceremony 2025” held in Singapore. In a statement, the lender said it is the only Philippine bank to receive this international recognition in Asia. According to the bank, the winners were selected based on a consumer survey conducted in Manila with a thousand respondents, evaluating “positive customer reviews and engagement, strong brand presence both online and offline, consistent communication across all touchpoints, and overall market leadership.” This recognition strengthens Security Bank’s mission to become the most customer-centric bank in the Philippines. The bank vows it “remains focused on delivering exceptional service and meaningful banking experiences that put customers first.”
HMO sector’s growth prompts financial tiering system, IC says
By Reine Juvierre Alberto @reine_alberto
HEALTH maintenance organizations (HMOs) in the Philippines will now be classified into financial tiers, the Insurance Commission (IC) recently revealed.
The tiering is based on an HMO’s net worth, which should not be lower than their actual paid-up capital, as specified in IC Circular Letter 2025-11. The Circular presents the revised minimum capitalization, financial capacity and other regulatory requirements for HMOs in the Philippines.
The circular quoted Insurance Commissioner Reynaldo A. Regalado as explaining that the HMO industry “has experienced significant growth in membership and services and is expected to play a larger role in the national healthcare system.” Such situation necessitates “updates to the regulatory framework to ensure financial stability, operational efficiency and inclusivity in delivering healthcare to a broader population,” Regalado added.
Tier A is for HMOs with a net worth of over P500 million, B for P100 million to P500 million, C for P50 million to P100 million and D for P50 million and below.
“If it is found that the net worth
is less than the amount as required in this CL, the same shall be fully covered with a cash infusion to be contributed proportionately by the stockholders on record within 15 days of receipt of the advice from the [IC],” the Circular read.
Paid-up capital
MEANWHILE, the IC maintained the minimum paid-up capital for all existing domestic HMOs at P10 million, much less than the P50 million earlier proposed by certain sectors. The capital was supposed to rise every three years to reach P500 million in 2034.
The minimum paid-up capital for new HMOs entering the Philippine market was also retained at P100 million and for community-based and cooperative HMOs, equivalent to 50 percent of the prescribed amount.
The maximum risk on membership fees is also tiered, with Tier A having no limit, B with 10 times its net worth, C with five times its net worth and D with three times its
Security Bank taps US firm for eKYC process
By VG Cabuag @villygc
THE Minnesota, United Statesheadquartered Entrust Corp. announced it was hired by Security Bank Corp. to enhance the bank’s electronic Know Your Customer (eKYC) process.
In a statement issued last week, Entrust said that amid a surge in digital banking adoption, Security Bank is modernizing its eKYC process through a new app to streamline the digital onboarding journey for its customers.
The Philippines’s digital banking market is poised for rapid expansion, with a projected compound annual growth rate of 31 percent through 2029, reaching a market volume of $2.16 billion, Entrust revealed.
According to the identity-centric security solutions provider, Security Bank will “leverage the Entrust ‘Onfido Studio’ platform, which combines security features with fraud detection capabilities, including deepfake detection and prevention.”
“The platform’s flexible orchestration capabilities enable Security Bank
to create customized onboarding workflows while maintaining regulatory compliance,” the company added.
According to Entrust, the partnership “is delivering measurable results for Security Bank, including a significant increase in customer onboarding completions and reduced onboarding times. The bank is also leveraging Entrust dedicated technical specialists, who provide ongoing improvements and best practices to optimize the user experience.”
While initially focused on retail banking onboarding, Security Bank plans to extend Entrust identity verification solutions across its broader portfolio of services. The technology will be leveraged to enhance the customer experience across additional digital services, ensuring consistent security and convenience across all banking touchpoints.
“Security Bank is transforming digital banking in the Philippines, and we’re proud to support their vision with advanced identity verification that makes onboarding both more secure and convenient,” Entrust Asia Pacific Regional Vice President of Sales Harvinder Singh was quoted in the statement as saying.
The Trump family is going all-in on crypto projects
By Teresa Xie & Olga Kharif | Bloomberg
Pnet worth. Gross membership fees are the total annual fees arising from full-risk HMO agreements of the pre-agreed set of health services.
The tier classification will also dictate the minimum acid test ratio (ATR) that each HMO must consistently maintain, according to the circular.
Tiers A and B are required to keep an ATR of at least 1.0, while Tier C must maintain 1.75 and Tier D, 2.0.
HMOs under Tiers A, B and C are also allowed to invest in real estate properties, with the valuation of these properties requiring prior approval from the IC and conducted by an accredited appraiser of the Securities and Exchange Commission.
Further, HMOs under Tiers C and D must secure prior approval or clearance from the IC before declaring dividends or risk being ordered to cease operations until the full amount is restored.
As for Tiers A and B, no approval is needed from the IC to declare their dividends.
Moreover, all HMOs in the Philippines are also told to maintain a security deposit of at least 25 percent of the actual paid-up capital or P5 million, whichever is higher.
Investment scheme
ACCORDING to the IC, the security deposit must only be invested in bonds or other debt instruments of the Government of the Philippines, its political subdivisions or instru-
mentalities, or government-owned or -controIled corporations and entities, including the Bangko Sentral ng Pilipinas. This must have a maturity of at least one year from the date of transfer to the IC.
All HMOs must also present information on their compliance with the minimum capitalization and financial capacity requirements apart from the disclosures required under the Philippine Financial Reporting Standards.
The proposal to double the filing fee and penalty fee was refrained, as the filing fee was maintained at P20,000, including P200 representing Legal Research Fund (LRF), will be imposed upon submission of the audited financial statements and P5,000 for every calendar day of delayed submission.
Annual supervision fees for HMOs will now also be determined based on paid-up capital rather than gross membership fees. HMOs with paid-up capital of up to P20 million will be charged P20,000, with a legal research fee of P200. Entities falling between P20 million and P75 million will be assessed P50,000 and P500, respectively. Those with over P75 million will also pay P75,000 and P750. Failure to pay the required amount will incur a basic fine of P5,000, plus P500 for each day the payment remains overdue. The provisions stated in the circular letter shall take effect immediately, according to the IC.
GEric Trump has emphasized that “there are no conflicts” related to the family’s crypto investments.
“I don’t work with the White House,” Eric Trump said during a Bloomberg TV interview in April. “We’ve believed in crypto for a long time.” The president’s own public conversion to crypto is still relatively new. Trump called Bitcoin a “scam” as recently as 2021, telling Fox Business at the time that he didn’t like the token “because it’s another currency competing against the dollar” and that it should be regulated “very, very high.” Trump’s relationship with the digital asset industry has evolved significantly since then. As a candidate, he courted and benefited from significant contributions to his reelection campaign from crypto executives and advocates.
In his second term, Trump has signed executive orders in support of his promise to make the US the crypto capital of the planet, installed David Sacks and
RESIDENT Donald Trump and his family have taken interest in just about every corner of the crypto industry. There are nonfungible tokens and digital collectibles; a decentralized finance project; a proposed stablecoin; an effort at Bitcoin mining; and a pair of memecoins, one for the president and one for First Lady Melania Trump. Taken together, the various projects are approaching $1 billion in paper gains even after accounting for the latest round of trade war-induced market gyrations, according to Bloomberg calculations based on publicly available data. Donald Trump is already the richest person to have ever become US president, and his non-crypto holdings include significant investments in real estate. After his first election in 2016, Trump’s lawyers created a trust to handle his business affairs. That was managed by his two eldest sons and by Allen Weisselberg, the longtime chief financial officer of Trump’s real estate company.
Bo Hines to represent the interests of the industry, and continued to tout his memecoin with posts on Truth Social.
“Trump and his family seem eager to establish a broad foothold in the sector prior to further regulatory actions that are likely to boost cryptoasset valuations,” said Eswar Prasad, professor of trade policy at Cornell University.
Here’s how the Trump crypto portfolio has evolved.
Nonfungible tokens: December 2022
TRUMP became a crypto convert after falling in love with his own digital collectibles, known as nonfungible tokens.
Bill Zanker, a friend of Trump’s and the founder of adult-education company
The Learning Annex, initially pitched him the idea. Since then, the Trump Trading Cards NFTs, which show him in a variety of poses and outfits (sometimes dressed as a superhero), have been spread out over four collections.
The president last year hosted dinners for fans who purchased his NFTs,
which, according to financial disclosures, have brought in millions of dollars.
Decentralized finance: September 2024
THE Trump family announced its crypto project World Liberty Financial ahead of the US election. Since its inception, the project has been buying up millions of dollars worth of other cryptocurrencies, including Ether and Tron, though has yet to offer promised DeFi services like lending crypto without any intermediaries.
A company affiliated with Trump receives 75% of net revenue as a fee, including the proceeds of token sales, according to offering documents. The Trump family owns 60% of the equity share of the World Liberty through their company DT Marks DeFi LLC.
The company has raised $550 million in token sales after completing a second round last month. Zach Witkoff, one of World Liberty’s co-founders, is the son of Steve Witkoff, who helped connect the president’s family to other World Liberty Financial’s participants.
UAGUA, Pampanga—The Philippine Amusement and Gaming Corp. (Pagcor) announced its executives joined officials of the Provincial Government of Pampanga last Friday for the inauguration of the new Provincial Dialysis Center I here in a major boost for accessible healthcare in the province.
According to a statement by the Pagcor, the regulator donated over P90 million for the project to procure 40 dialysis machines and a CT scan unit.
The center is expected to serve thousands of patients who otherwise would have to travel far or incur big expenses for dialysis sessions, the Pagcor statement read.
During the inauguration, Pagcor Chairman Alejandro H. Tengco emphasized that the center is not just a response to the medical needs of dialysis patients but is a symbol of government care and compassion.
“We know how expensive and exhausting dialysis treatment can be—not just financially but physically, mentally and emo -
tionally, kung kaya’t ang pagkakaroon ng ganitong pasilidad sa lalawigan ay napakahalaga ,” Tengco said.
“Ang mga kagamitang ito ay simbolo ng malasakit ng ating pamahalaan sa mga pasyenteng lumalaban sa hamon ng karamdaman araw-araw,” the Pagcor official added
Tengco reportedly also lauded the medical staff who will run the facility, calling them the “nation’s true heroes” for their dedication and compassion.
“This is what nation-building looks like—projects that directly touch lives and strengthen communities,” he said, noting that the center aligns with President Ferdinand R. Marcos Jr.’s push for better health services especially in underserved areas.
The Pampanga Provincial Dialysis Center I is a stand-alone clinic developed under a publicprivate partnership. In addition to dialysis services, it also offers nutritional counseling, social work support, and patient education to meet the broader needs of patients and their families, according to the Pagcor.
TARIFF SHOCK: Why CEOs say Trump’s new China duties could be ‘apocalyptic’
By Paul Wiseman & Anne D’innocenzio AP Business Writers
WASHINGTON—Rick Woldenberg thought he had come up with a sure-fire plan to protect his Chicago-area educational toy company from President Donald Trump’s massive new taxes on Chinese imports.
“When he announced a 20 percent tariff, I made a plan to survive 40 percent, and I thought I was being very clever,” said Woldenberg, CEO of Learning Resources, a third-generation family business that has been manufacturing in China for four decades. “I had worked out that for a very modest price increase, we could withstand 40 percent tariffs, which was an unthinkable increase in costs.”
His worst-case scenario wasn’t worstcase enough. Not even close.
The American president quickly upped the ante with China, raising the levy to 54 percent to offset what he said were China’s unfair trade practices. Then, enraged when China retaliated with tariffs of its own, he upped the levies to a staggering 145 percent.
Woldenberg reckons that will push Learning Resource’s tariff bill from $2.3 million last year to $100.2 million in 2025. “I wish I had $100 million,” he said. “Honest to God, no exaggeration: It feels like the end of days.”
‘Addicted’ to low-price Chinese goods
IT might at least be the end of an era of inexpensive consumer goods in America. For four decades, and especially since China joined the World Trade Organization in 2001, Americans have relied on Chinese factories for everything from smartphones to Christmas ornaments.
As tensions between the world’s two biggest economies—and geopolitical rivals—have risen over the past decade, Mexico and Canada have supplanted China as America’s top source of imported goods and services. But China is still No. 3—and second behind Mexico in goods alone—and continues to dominate in many categories.
China produces 97 percent of America’s imported baby carriages, 96 percent of its artificial flowers and umbrellas, 95 percent of its fireworks, 93 percent of its children’s coloring books and 90 percent of its combs, according to a report from the Macquarie investment bank. Over the years, American companies have set up supply chains that depend on thousands of Chinese factories. Low tariffs greased the system. As recently as January 2018, US tariffs on China averaged just over 3 percent, according to Chad Bown of the Peterson Institute for International Economics.
“American consumers created China,” said Joe Jurken, founder of the ABC Group in Milwaukee, which helps US businesses manage supply chains in Asia. “American buyers, the consumers, got addicted to cheap pricing. And the brands and the retailers got addicted to the ease of buying from China.”
Slower growth and higher prices
NOW Trump, demanding that manufacturers return production to America, is swinging a tariff sledgehammer at the American importers and the Chinese factories they rely on.
“The consequences of tariffs at this scale could be apocalyptic at many levels,” said David French, senior vice president of government affairs at the National Retail Foundation.
The Yale University Budget Lab estimates that the tariffs that Trump has announced globally since taking office would lower US economic growth by 1.1 percentage points in 2025.
The tariffs are also likely to push up prices. The University of Michigan’s survey of consumer sentiment, out Friday, found that Americans expect long-term inflation to reach 4.4 percent, up from 4.1 percent last month.
“Inflation’s going up in the United States,” said Stephen Roach, former chairman of Morgan Stanley Asia and now at Yale Law School’s China Center. “Consumers have figured this out as well.”
“No business can run on uncertainty”
IT’S not just the size of Trump’s tariffs that has businesses bewildered and scrambling; it’s the speed and the unpredictability with which the president is rolling them out.
On Wednesday, the White House said the tariffs on China would hit 125 percent. A day later, it corrected that: No, the tariffs would be 145 percent, including a previously announced 20 percent to pressure China to do more to stop the flow of fentanyl into the United States.
China in turn has imposed a 125 percent tariff on the US effective Saturday.
“There is so much uncertainty,” said Isaac Larian, the founder of MGA Entertainment, which makes LOL and Bratz dolls, among other toys. “And no business can run on uncertainty.”
His company gets 65 percent of its product from Chinese factories, a share he is
trying to winnow down to 40 percent by the end of the year. MGA also manufactures in India, Vietnam and Cambodia, but Trump is threatening to levy heavy tariffs on those countries, too, after delaying them for 90 days.
Larian estimates that the price of Bratz dolls could go from $15 to $40 and that of LOL dolls could double to $20 by this year’s holiday season.
Even his Little Tikes brand, which is made in Ohio, is not immune. Little Tikes depends on screws and other parts from China. Larian figures the price for its toy cars could rise to $90 from a suggested retail price of $65.
He said MGA would likely cut orders for the fourth quarter because he is worried that higher prices will scare off consumers.
Calling off China production plans
MARC ROSENBERG, founder and CEO of The Edge Desk in Deerfield, Illinois, invested millions of dollars of his own money to develop $1,000 ergonomic chairs, which were to start production in China next month.
Now he’s delaying production while exploring markets outside the US, includ -
ing Germany and Italy, where his chairs wouldn’t face Trump’s triple-digit tariffs. He said he wants to see how the situation plays out.
He had looked for ways to make the chairs in the United States and had discussions with potential suppliers in Michigan, but the costs would have been 25 percent to 30 percent higher.
“They didn’t have the skilled labor to do this stuff, and they didn’t have the desire to do it,” Rosenberg said.
Making Chinese imports go ‘kaput’
WOLDENBERG’S company in Vernon Hills, Illinois, has been in the family since 1916. It was started by his grandfather as a laboratory supply company and evolved over the years into Learning Resources.
The company specializes in educational toys such as Botley: The Coding Robot and the brainteaser Kanoodle. It employs about 500 people—90 percent in the United States—and makes about 2,400 products in China.
Woldenberg is reeling from the size and suddenness of Trump’s tariffs.
“The products I make in China, about 60 percent of what I do, become economi -
cally unviable overnight,” he said. “In an instant, snap of a finger, they’re kaput.”
He described Trump’s call for factories to return to the United States as “a joke.”
“I have been looking for American manufacturers for a long time...and I have come up with zero companies to partner with,” he said.
The tariffs, unless they’re reduced or eliminated, will wipe out thousands of small Chinese suppliers, Woldenberg predicted.
That would spell disaster for companies like his that have installed expensive tools and molds in Chinese factories, he said. They stand to lose not only their manufacturing base but also possibly their tools, which could get caught up in bankruptcies in China.
Learning Resources has about 10,000 molds, weighing collectively more than 5 million pounds, in China.
“It’s not like you just bring in a canvas bag, zip it up and walk out,” Woldenberg said. “There is no idle manufacturing hub standing fully equipped, full of engineers and qualified people waiting for me to show up with 10,000 molds to make 2,000 products.”
RICK WOLDENBERG , CEO of Learning Resources,
an educational toy company whose products are manufactured in China, stands at a warehouse in Vernon Hills, Illinois, Friday, April 11, 2025. AP/NAM Y. HUH
AN employee of Learning Resources works at a warehouse in Vernon Hills, Illinois, Friday, April 11, 2025. AP PHOTO/NAM Y. HUH
PRODUCTS of Learning Resources are shown at a showroom in Vernon Hills, Illinois, Friday, April 11, 2025. AP/NAM Y. HUH
EVER BILENA’S TIKTOK-VIRAL MAKEUP BAR LANDS IN THREE LOCATIONS
MEMO to beauty lovers: Ever Bilena’s makeup bar—the viral shopping experience that’s taken TikTok by storm—is now available in three exclusive locations for a limited time only. Makeup enthusiasts can find Ever Bilena’s Makeup Bar at: W Department Store, Waltermart Makati; Robinsons Galleria Ortigas Department Store; and LCC Department Store Tabaco, Bicol (Yes, they brought the Makeup Bar craze all the way to Bicol!)’
How does the Ever Bilena makeup bar work?
n Pick a pouch size—choose from three sizes: Medium, priced at P499; Large, P599; and Extra Large, P999
n Fill it up—Grab your favorite Ever Bilena makeup products and fit as many as you can inside your pouch. You’ll find best-selling essentials and new launches to upgrade your beauty routine.
n Seal the deal—Once you’re satisfied with your haul, head to the cashier to pay for your chosen pouch.
n Personalize your pouch—Make your makeup bar experience even more special by decorating your pouch with cute, stylish stickers (courtesy of Ever Bilena!). This limited-time run brings in exciting new launches, including the EB Moisture Boost Lipstick—a hydrating, creamy lipstick that delivers rich color and all-day comfort. Plus, you’ll find trending picks like EB Serum Tinted Lip Balms, viral blushes, and top-rated eye and brow products. Makeup enthusiasts can shop as many pouches as they can while supplies last.
Sparkle like the sea with new Sally Hansen Miracle Gel collection
Michael Leyva: Resplendence and remembrance at The Pen
IT was world-renowned couturier Michael Cinco who “introduced” me to what he deemed was an exceptional talent shaking up the local fashion scene: his namesake, Michael Leyva. They just finished an epic fashion editorial at the National Museum of Anthropology with the late great Lope Navo as photographer.
Leyva unleashed “an opulent piece from his Enchanted Dreams collection: a spellbinding longsleeved silk organza gown with fully embroidered rose details of metal threading and crystal embellishments. It’s feel-good glamour in a garden setting,” as I eventually described it in an article for the Singapore-based magazine Solitaire, then edited by my good friend Mapet Poso.
Fast-forward to 2025 and Leyva is revisiting the enchanted garden once again. As the grand finale of Weddings at The Peninsula and More, he presented his latest offerings called Michael Leyva Couture 2026: Memoria ng Hardin
“Every stitch, fold, and delicate detail is a labor of love. This collection is a narrative of gratitude, remembrance and celebration,” Leyva revealed.
Held at the Lobby of the Pen, with the iconic sunburst sculpture by National Artist Napoleon Abueva above, Leyva’s signature style was on splendid display—“feminine silhouettes, exquisite beadwork, and luxurious fabrics,” which he made more glamorous with minimalist rendering of details such as roses, vine-like grapes, delicate fringes, metal contraptions, and book-leaf constructions.
“We are honored to have hosted Michael Leyva’s extraordinary showcase in our lobby—an iconic space that has witnessed countless milestones. This show reflects our continued commitment to celebrating Filipino artistry and providing a timeless venue for unforgettable moments,” said Kevin Tsang, managing director of The Peninsula Manila in a statement.
Pristine bridal dresses, resplendent red-carpet eveningwear, sensational suits and quirky cocktail ensembles paraded in quick succession, deftly directed by Robby Carmona with styling by Rey Santos, and hair and makeup by Stokes Beauty and Momoi Supe.
Just like his 10th anniversary showcase in 2022 at the National Museum of Natural History in Manila, the #PenMoments show is Leyva’s touching homage to his late brother, Brian, who was a fast-rising designer when he tragically died in 2010.
“Always grateful and honored to be able to showcase Filipino talent at my best.
’is a beautiful and poignant title, capturing the essence of [my couture 2026] collection. This title evokes a sense of nostalgia, love and remembrance, representing the beauty and fragility of life, and the memories that bloom in our hearts,” Leyva posted on his Instagram.
lustrous nail polish lacquers, each reminiscent of coastal hues and textures—from tranquil blue waters to the soft pink sands. These pearlescent glitter polishes definitely create the perfect aquatic-inspired manicure and bring the beauty of the sea to your fingertips.
Whether you’re making a splash in the city, lounging by the beach, or going on a seaside adventure, the Miracle Gel Modern Pearl Collection is perfect to complete your summer look.
You can check out the Sally Hansen Miracle Gel collection at Rustan’s (Makati, Shangri-La Plaza, Alabang, and Cebu), SM Store (North Edsa, Makati, Mall of Asia, Megamall), LOOK (SM Aura Premier, SM Mall of Asia), The Landmark (TriNoma, Makati, BGC), Mitsukoshi Beauty; and online at Rustans.com, Lazada, and Shopee. Sally Hansen is exclusively distributed by Rustan Marketing Corp.
FOR Japanese fashion retailer Uniqlo, opening a roadside store means giving its customers a local onestop shopping experience so they can buy clothes and other essentials close to their homes.
These roadside stores are more than just retail outlets. They are designed with the community in mind and strategically located within local neighborhoods. Opening roadside stores is a Uniqlo business model that appeals to customers and embodies the brand’s philosophy of “contributing to the development of a prosperous society and realization of a better world.”
Uniqlo opened its first roadside store in Cavite at Café 10/23 in Imus.
For Café 10/23 owner LA Cantimbuhan, a longtime fan of Uniqlo, this is a dream come true.
“As a brand, Uniqlo has always been about simplicity, quality and comfort—values we also
One of the more striking elements of the show was the accessories worn by the models, crafted by Studio 225 MNL. On Instagram, the brand expressed its gratitude to Leyva:
“We are deeply honored to have worked with an artist like Michael, who is not only a master in his craft but also a trailblazer in Philippine fashion.
“Your works are inspiring, and it gave us the opportunity to challenge ourselves in using resin as our medium. Everything is done in resin, with some pieces for his couture segment gilded in gold leaf.
“Again, thank you, Michael Leyva—for your works of art and for giving small artists like us an avenue to share our craft as well. You truly are inspiring.”
The Michael Leyva client, the designer du jour has said, is “an elegant woman, someone who is confident
uphold in our café,” said Cantimbuhan. “This partnership is a huge opportunity for us to share our passion for great coffee with the community and be part of such a meaningful moment in Uniqlo’s expansion.”
Café 10/23 is a homegrown Cavite brand rooted in the City of Imus. It proudly serves their comfort meals, coffee and non-coffee drinks, pastries from their bakehouse, and high quality gelato also made in-house.
Café 10/23 is located at Imus Boulevard, Malagasang II-C, Imus Cavite. It’s open weekdays, from 10am to 11pm, and on weekends from 7 am to 11 pm. This Uniqlo roadside store at Café 10/23 will showcase a variety of items from the brand’s popular lines, including bra tops, linen pieces, jeans, and Sport Utility Wear. Each product has been chosen to cater to the active and diverse lifestyles of Caviteños. By the way, the Uniqlo bra top features molded cups and an elastic underband that center the bust for a flattering silhouette, while providing support from under to keep it high. A power net designed for optimized support ensures a secure yet comfortable fit so it’s perfect for summer.
Meanwhile, Café 10/23’s employees wore the Uniqlo Philippines x Café 10/23 shirt, the U T Crew Neck Shirt, an activation for this partnership from March 30 to April 4 and all Sundays of April.
and capable of extraordinary things.” These are his muses: fashion icons Heart Evangelista, Anne Curtis, Nadine Lustre, Pia Wurtzbach; and powerful women
Editor: Gerard S. Ramos
MICHAEL LEYVA UNVEILED Jasmine Maierhofer, Sergio Azuaga, Justine Gabionza, Leyva bride, Anthony Constantino, Yaofa de la Cruz, and Michael Leyva with his nostalgic collection.
Enchanted Kingdom hypes up 30th anniversary with new ride
ENCHANTED Kingdom, the first and only world-class theme park in the Philippines, officially welcomed its newest family thrill ride, EKlipse, with an enchanting and immersive launch event last March 30, 2025.
As one of EK’s inaugural gifts for their 30th anniversary this 2025, EKlipse offers an exciting new adventure for Filipinos, marking the first of its kind in Southeast Asia. Guests will enjoy the heart-pounding thrill aboard this ride with its unpredictable rotating movement and the visual illusion it creates every time its arms pass each other.
Catering even to pre-teens and teenagers, this newest attraction is sure to foster even more shared experiences and create enchanting memories for EK’s multigenerational guests with their loved ones.
The EKlipse Grand Launch featured spectacular performances from rising P-pop group GAT, The Clash Season 6 grand champion Naya Ambi, and up-and-coming Filipino boy group AJAA.
EK’s very own P-pop group, SMS, also captivated the audience with their newly released single, Meant 2 Shine, along
with their latest music, the theme song of EKlipse. This song supplements the overall experience of the new ride, as it plays throughout its entire cycle.
The enchanting celebration was graced by Santa Rosa City Vice Mayor Arnold Arcillas who joined in the symbolic unveiling of the ride marquee, together with EK President and Chairman Cesar Mario Mamon; Chief Operating Officer Cynthia Mamon; Head of Integrated Marketing, and Organization Development and Corporate Planning Nico Mamon; Eldar the Wizard; and twin princesses Victoria and Madeline.
When the marquee was revealed, EKlipse suddenly came to life, setting off a dazzling display of dancing lights which highlighted the ride’s visual appeal, especially at night.
Adding a magical twist to EK’s classic tradition, the night was topped off by the
Sky Wizardry Fireworks Display featuring the vibrant colors of EKlipse.
As a special treat, Eldar the Wizard also extended the park’s operating hours on Sunday to give the guests more chance to try the family thrill ride as well as EK’s other attractions.
The introduction of EKlipse exemplifies the theme park’s continuous pursuit in bringing new world-class and enchanting experiences for all Filipinos.
EK also announced that its president and chairman, Cesar Mario Mamon, won the highly-coveted Inspiration Award in the Asia-Pacific (APAC) Region, as revealed by the International Association of Amusement Parks and Attractions (IAAPA) last March 25.
He is notably the first Filipino to ever receive this recognition from the premier global attractions trade association.
Through this prestigious award, IAAPA honors the visionary individuals who championed innovation in the amusement parks and attractions industry in their respective areas.
Currently in his third decade in the integrated attractions industry, Mamon has made a long-lasting mark not only in the country but also in Asia.
Aside from being the founder of the leading theme park in the Philippines, he served as the chairman of IAAPA in 2013, making him the first Asian to be elected for this esteemed role. Later, he became the founding head of the Philippine Association of Amusement Parks and Attractions (PhilAAPA). Mamon is set to receive the Inspiration
Award at the IAAPA Honors 2025 which will be held in Germany from April 28 to 30.
For more information and updates regarding these and EK’s other upcoming events and offers, visit https://www. enchantedkingdom.ph and EK’s official social media accounts @enchantedkingdom.ph for Facebook and Tiktok, and @ek_philippines for Instagram.
IMTAP & PSMEX 2025: Showcasing the Future of Philippine Manufacturing
THE highly anticipated 2nd International Machinery, Tools & Accessories Philippines (IMTAP 2025) and 3rd Philippine Subcon & Manufacturers Exhibition (PSMEX 2025) are set to take place from May 8 to 10, 2025, at Halls A to D of the World Trade Center, Metro Manila.
This premier industrial event will bring together the latest innovations in manufacturing, metalworking, and automation, offering an unmatched opportunity for industry professionals to explore cutting-edge
technologies and business opportunities. From stateof-the-art machinery to groundbreaking advancements in robotics, sheet metal, plastics, and welding, IMTAP & PSMEX 2025 is designed to drive the Philippines’ industrial sector toward global competitiveness.
Attendees can look forward to a comprehensive exhibit featuring solutions tailored for aerospace, automotive, electronics, motorcycle, and boat & vessel manufacturing— five key industries shaping the country’s economic future. The event will also host renowned international and local exhibitors, giving visitors access to world-class suppliers, manufacturers, and industry leaders.
Live demonstrations, technical seminars led by top experts, and interactive sessions will provide invaluable insights into emerging trends and best practices, ensuring businesses stay ahead in an increasingly competitive market.
Beyond technology and innovation, IMTAP & PSMEX 2025 is a powerful platform for networking and business development, connecting decision-makers, investors, and industry professionals to foster strategic partnerships. With free entrance and access to technical seminars, this event is an unmissable opportunity for those looking to expand their knowledge, enhance their operations, and tap into new market opportunities. Pre-register today and be part of the future of Philippine manufacturing!
From whence you came: The beginnings of our PR lives
First of Two Parts
I T began as a chat.
One of our members mentioned a name that emitted childhood memories me. Childhood? Yes, childhood, for I was barely a teen when my dad forced me to take a summer job at one of Manila’s public relations firms—Zorilla and Associates.
It was from that thread that I decided to compile the short histories of each willing IPRA member, in the hopes of inspiring and mentoring the current and future generation of public relations professionals, for it is in knowing where you started that you can get to where you are going (now, where did I translate that from?).
Margarita
Locsin-Chan,
Vice President, Philippine Chamber of Commerce
in Singapore
LET’S start with me.
My first summer job was at the age of 12 or 13. My dad dumped me in the worst place for budding vegetarians—a hotel kitchen. My foodie self enjoyed the stint, but I was not popular with the head chef who had me help prepare a chicken dish, to which I said, “I can’t prepare that, I’m vegetarian”. He replied, “I told you to prepare it, not eat it.” And so the next summer, my dad knew better and put me in Zorilla.
My short stint at Zorilla, encouraged by my father’s friend and fellow writer and radio host Alvin Capino, entailed doing odd jobs, cutting a lot of press clippings and meticulously pasting them onto bond paper, and following older staffers around. Little did I know that this summer job would become my career. Fast forward to 1999, I had just returned from working with Euromoney Institutional Investor in London and was representing the publication for the Philippines. My work involved going to different large conglomerates and multinationals in the country and
encouraging them to advertise in the globally-distributed financial publication, particularly that year, a Philippinesfocused supplement. Euromoney’s advertising rates were quite hefty compared to local publications, so it was up to my then 26-yearold self to persuade some very important people in Philippine business that putting money towards media mileage right after the Asian Financial Crisis was a good idea. It was certainly not an easy job, but it was how I built my network.
Having a name like Euromoney to back me allowed me access to people like then Bangko Sentral ng Pilipinas governor Paeng Buenaventura, who turned out to be one of my best supporters and helped me open more doors in an industry I had left two years before as a young minion on the stock exchange floor.
Because of the nature of my work, I met the corporate communications and government relations heads of the major corporations and banks, among them Juris Soliman of Citibank. I remember spending time in the office of her then CEO, who always spoke animatedly of the Philippine economy.
While they never booked an ad with me, mainly because Citi would do so out of Hong Kong on a regional level, Juris and I realized we had history together (she had once worked for my dad) and that we got along wonderfully (we are both Energizer Bunnies).
My grandfather passed a few months into my new role, and it was at the wake and subsequent prayers that Juris mentioned to me two openings—one was to work within a Citi subsidiary, and the other was to join her in a new role, but she couldn’t tell me what at the time. A few days later, and I distinctly remember I was at a press event in Tagaytay for her bank, which was ironic, when she called and asked me to take a leap of faith with her.
We jumped, maybe head first, into the cement industry, joining the corporate communications department of what was CEMEX Philippines, representing the then third largest cement concern in the world at the time. I didn’t know anything about corporate communications and public relations, but Juris threw me into the fire and the rest, to sound like a cliche, is history.
I have never really, even with changing time and circumstance, never looked back and never left. PR gave me a
life, a career, a network of amazing contacts, friends and mentors, not to mention, the most unforgettable experiences that still shock my kids when I tell them what “mom used to do”.
Noel Rene Nieva, President and CEO of Perceptions and National Chair of IPRA
SOME people target to be in an industry that they’ve dreamt of since they were toddlers.
Some end up stuck in a profession that they aren’t in love with, but don’t realize until they retire.
I have always felt I was lucky to be in public relations, luck being a factor on who my parents are and luck that they weren’t doctors or lawyers.
They say that parents influence their children the most during the learning years between 5 to 12 years of age. I recall that during that time, my sister and I spent many weekends at Punta, Santa Ana in Manila while our dad, Rene, was doing community relations activities for a multinational oil company.
Since that day, us kids have had front row seats with one of the country’s leading PR practitioners and, boy, were we lucky.
Years later, back in 1987, Dad retired from Exxon and set up Perceptions, Inc., his PR counsel firm, servicing two accounts.
In 1991, after many learning sessions which included planning PR campaigns for clients while on family holiday, exhaustively discussing the finer points of a PR strategy during Sunday family brunches, it was inevitable that I would enter the world of PR.
Some 38 years later, am currently leading the firm, after working with my Dad on campaigns like Biyahe Tayo!, the domestic tourism campaign designed to promote love of our country and the desire to travel and explore our culture; Tears, the ad series that morphed into a coffee table book and national campaign that stemmed from the need to create buzz for an eye drop brand and Read to Lead, the nationwide campaign to promote love of reading, all Grand Anvil award winners.
Remember how I claimed that luck was a factor in this PR journey? Imagine how it would have turned out if Dad were a doctor or a lawyer.
There would be a little less people in the world and our jails could be a bit more crowded, simply because medicine or law are not for me, and luckily, because I remain in love today with the practice of public relations.”
Wen Capulong-Reyes, PhD, Vice President for Corporate Affairs, Far Eastern University
”MEDIA seeding laid a strong foundation for my career in public relations. Come rain or shine, the hard copy press release has to reach the editors.
Starting in my teens, I gained hands-on experience in crafting press releases alongside my sisters, Winnie and Gigi. This early exposure taught me the importance of strategic messaging and relationship-building with media outlets.
My first official role as a PR assistant at the Department of Trade and Industry further honed my skills in storytelling from various angles. The insights I gained during these formative years have been invaluable, shaping my approach to PR and enabling me to effectively connect with audiences throughout my career.
The future of public relations is bright if we adhere to the fundamentals of the discipline. By leveraging AI as a tool, we can enhance relationship-building and improve engagement.”
“I WORKED as a business journalist for more than a decade. Before hitting my 10-year mark, I decided to pursue an MBA degree to prepare me for corporate work. When some industry people got wind of my plans to resign from the Inquirer, a handful of my sources approached to offer me jobs. I chose to go to SEAOIL, upon the invitation of its president Glenn Yu, whom I admired and valued as an industry source.
My first PR role was in government affairs, which focused mainly on regulatory affairs, community relations, corporate social responsibility, and industry partnerships. I knew the energy industry well and had a wide network of contacts in media and government, but I had very little practical experience on how things actually worked. So I read a lot and also talked to veteran PR practitioners so I can learn from their experiences.
Since that first corporate role, I have expanded my scope to include marketing and even customer experience. They are all intertwined, and each field can benefit from each other.
Most memorable project? I have one from each of my former roles. From SEAOIL, in both my capacity as Government Affairs Manager and Executive Director of the corporate foundation, I took care of the National Basketball Training Center (NBTC) grassroots basketball program of Coach Eric Altamirano. His passion for the sport and for youth development through basketball was contagious. I loved how the program was designed. That was also how I met Kiefer Ravena and Jeron Teng before they went pro.
From British American Tobacco, we had this campaign called “Every Peso, Every Minute” where we had to find ways to reduce costs and make work more efficient. Each individual and business unit was encouraged to find ways to save both money and time in the performance of our jobs. I was in charge of employee communication and engagement. We hit our time and money savings targets ahead of schedule, and “Every Peso, Every Minute” became a top-of-mind term for any act that can potentially result in money or time savings— even something as simple as turning on the lights and keeping the airconditioning unit at optimal (energyefficient) temperature level. With Maynilad and as part of marketing, one of our thrusts was to increase public awareness about wastewater management. It was not easy to explain since people don’t really see their wastewater, unlike water from the tap that they see every day. A teammate came up with the quirky idea of giving awards to nice public-access restrooms - this we later called the “Golden Kubeta Awards.”
The handle had to be catchy, after all, for people to take notice. We further expanded the program and came up with the Kubeta PH wastewater awareness program, which included the Golden Kubeta Awards, and also spoke with various stakeholder groups, including government and business.
Where do I see PR going?
I SEE PR becoming even more intertwined with marketing and even customer experience (CX). Based on my own career trajectory, I saw the advantage of having a PR and communication background when I went into marketing and CX. You are basically speaking to the same audiences, but using different message framing and different tools to get your messages across.
The pervasiveness of social media has blurred the lines between PR and digital marketing work. Amid all these changes, it is important to know what PR’s main goal is: to safeguard and strengthen reputation. But it is equally important to be flexible and adaptable, willing to learn new things and work with different allied industries.”
To be Continued
PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (IPRA), the world’s premier association for senior professionals around the world. Margarita Locsin-Chan is the Vice President of Philippine Chamber of Commerce in Singapore.
We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail.com.
B8 Monday april 14, 2025
mirror_sports@yahoo.com.ph
17 teams vying in Tour of Luzon ‘Great Revival’
ATOTAL of 119 riders representing 17 teams— including four from overseas— hit the road on April 24 as the fabled Tour of Luzon returns with a “The Great Revival” edition in Paoay, Ilocos Norte.
Shelved at least thrice since the Manila-Vigan inaugural race in 1956, the Tour of Luzon—presented by the Metro Pacific Tollways Corporation (MPTC), DuckWorld PH and Cignal TV—will be all of eight stages traversing seven Northern and Central Luzon provinces with a mountain top finish inside Camp John Hay in Baguio City.
“The legendary Tour of Luzon is back,” exclaimed Patrick “Patò” Gregorio, president of DuckWorld PH whose collaboration with MPTC, led by Chief Regulatory Officer Arrey Perez, resulted in the return of the Tour of Luzon last staged in 2019 via the international Le Tour de Filipinas.
“The excitement has bordered from excitement to the extreme for once again, we’ll see the best of Philippine road cycling reliving the historic summer sports tradition,” said Perez, himself an active executive cyclist.
Up for grabs in the PhilCyclingsanctioned race is a P1-million cash prize and a year’s possession of the Tour of Luzon perpetual trophy for the team champion and P500,000 and a uniquelycrafted trophy for the general individual classification winner.
The eight stages cover a total of 1,074.90 kilometers starting with the 190.70-km Paoay-Paoay (via Pagudpud) Stage 1 on April 24, 68.39-km PaoayVigan team time trial Stage 2 on April 25, 130.33-km Vigan-San Juan (La Union) Stage 3 the next day, 162.97-km Agoo-Clark Stage 4, 166.65 Clark-Clark (via New Clark City and Tarlac) Stage 5, 168.19 Clark-Lingayen Stage 6 and 15.14-km individual time trial LabradorLingayen Stage 7 on April 30. Come May 1, the surviving cyclists will pedal 172.53 kms from Lingayen to a top-of-the-hill finish at the Scout Hill section inside Camp John Hay, the final queen stage that’s expected to determine who lifts the champions’ trophies in the race being staged through sports patron Manny V. Pangilinan’s MVP Group’s advocacy to promote sports in all disciplines and at all levels.
“Besides bringing the Tour of Luzon back on the road, we are also reviving the prestigious ‘Eagle of the Mountain’ title which will go to whoever wins the punishing Stage 8,” Gregorio said. “It could all boil down to that final stage.”
Brooke and MJ: Not to be denied
tournament Most Valuable Player award. Her court vision, relentless energy and poise under pressure made her a nightmare for opponents and a beacon of hope for her team.
Phillips, a powerful middle blocker from Carson, California, was a defensive wall and a clutch scorer, registering 15 points on four kill blocks and anchoring the Angels’ frontline with muscle and focus when it mattered most.
Van Sickle and Phillips focused on the goal and shut themselves out from the rabid anti-Angels.
“I ju st try to ignore the comments,” said Phillips, who has been playing in the local front since 2017.
“Everything is honestly for my mom and my lola who passed away. Every time I look at the flag of the Philippines—it’s for my lola.”
Van Sickle, who joined the Angels last year, echoed Phillips’s sentiment.
“I don’t expect people to be open arms with us. I understand how they feel. But I’m here, I’m representing the Philippines,” she said. “I just want to be able to play volleyball—the sport I love—and continue to immerse myself in this culture, our culture.”
In a grueling tournament, the Koji Tsuzurabara-coaches Petro Gazz toiled, endured and proved it was their time.
Facing elimination in the best-ofthree quarterfinals, the Angeles swept the last two games to dispose of the ZUS Coffee Thunderbelles.
TBROOKE VAN SICKLE and MJ Phillips shut out all criticisms to carry Petro Gazz to the All-Filipino Conference crown.
HE one-two punch, the women of the hour were Brooke Van Sickle and MJ Phillips in Petro Gazz’s domination of highly-favored Creamline in the winner-take-all Game 3 of the Premier Volleyball League All-Filipino Finals on Saturday night at PhilSports Arena in Pasig City.
“The mindset was to keep pushing,” said Van Sickle after the Angeles’ titleclinching 25-21, 25-16, 23-25, 25-19 victory over the Cool Smashers. “You
Eala tournament top seed on clay in Portugal
By Josef Ramos
WORLD No. 73 Alex Eala starts her clay court season campaign in the Oeiras Ladies Open at the Centro Desportivo Nacional Do Jamor in Portugal where she hopes to duplicate or surpass her previous semifinal run at last month’s Miami Open. The 19-year-old Filipino sensation has yet to know her opponent although she’s expected to encounter stiff oppositions as top seed of the tournament that drew 39 other top female players—eight from qualifying draw and 32 in the main draw. Considered as the second highest women’s competition level in the pro circuit behind the World Tennis Association (WTA) Tour, the WTA 125 features Katie Volynets of the United States, Anna Bondar of Hungary and eighth seed world No. 30 Sorona Cirstea of Romania.
Volynets, the second seed, is eyeing revenge against Eala, who swept her in straight sets in Miami.
Eala, on the other hand, is hoping to duplicate her straight sets victory over fourth seed Bondar in February 2024 in the International Tennis Federation Slovakia tournament. The $168,100 tournament also features No. 3 Italian Elisabetta Cocciaretto, Swiss No. 93 and tournament fifth seed Viktorija Golubic, Chinese sixth seed No. 36 Yuan Yue,and Spain’s Nuria Diaz, the eighth seed.
There is definitely pressure because I was able to do well, but that’s also a good sign,” Eala said. “This is something new for me, something I haven’t done before, being in the top 100 and being one of the seeded players.”
“I must work hard to continuously keep up on this level,” she added.
ALEX EALA’S in a different world now.
can’t let up against Creamline.”
“They’re a dynasty. They don’t stop,” she said. “But we stayed calm, stayed together and gave it everything. I’m so proud of this team.”
Just like Van Sickle, Philips knew toppling a dynasty brings out everything from whoever challenges Creamline.
“I’m speechless. We’ve been through so much,” Philips said. “But we fought hard when it mattered most. We showed resilience, grit and heart. I’m just so happy and proud of this group.”
But as Van Sickle and Phillips are enjoying the euphoria, murmurs grew
Not even the sainted National Basketball Association (NBA) has been immune to these (however, I am not sure if it has diluted its fan base). A s the saying goes, what doesn’t kill you, makes you stronger. So the PBA announced its latest additions to their 50 greatest players. Once more, not without controversy. Having said that, what list or voting or even All-Star Game doesn’t?
That isn’t what this column is all about.
Batang PBA tayo. I grew up with its inception. As a young boy, it was the only game in town and no one came close. My father and my uncle even took me to one Crispa-Toyota game that I relished since my Tamaraws won that game. But for the most part, I had to endure constant ribbing as I come from a family of Crispanatics.
A s a grade school kid, there were these huge posters of PBA players that were sold at the Ateneo Grade School cafeteria and this was a huge hit with the students. I would save my allowance and gather discarded soft drink bottles to get the deposit that I saved to buy these posters as well.
And later still, my family was involved in bringing the Raymond Townsend-led Golden State Warriors to the
louder—obviously from the other side of the fence—as to the legitimacy as Filipinos of the two Petro Gazz superstars. Yet you can’t just take away the accolades from both, who’re Filipino citizenship who proudly trace their roots to Zambales for Van Sickle and Ilocos Sur for Phillips. Van Sickle, a dynamic outside hitter from Hilo (Hawaii), dropped 21 points on 17 attacks with two aces and two kill blocks—she showed all-around skill with 18 excellent receptions and nine excellent digs, a performance that earned her the
From there, the duo—with Jonah Sabete, Myla Pablo, Joy Dacoron, Aiza Pontillas, Remy Palma, Ranya Musa, Marian Buitre, Nicole Tiamzon, Chie Saet, Djanel Cheng, Baby Love Barbon and Jellie Tempiatura—never looked back and stormed to four straight wins, including a semifinal sweep and a tough Game 1 of the Finals. Though they couldn’t clinch the crown outright in Game Two—with the 10-time champion Cool Smashers flexing their pedigree—the series hit a boiling point. And when it did, the Angels, true to form, shifted to a higher gear and soared to new heights.
UST shuts out NU in UAAP women’s tennis finale
NIVERSITY of Santo Tomas (UST) foiled National Univesity’s bid for a “four-peat” to regain the University Athletic Association of the Philippines women’s tennis crown via a commanding 3-0 victory in the Season 87 Finals Sunday at the Felicisimo Ampon Tennis Center of the Rizal Memorial Sports Complex in Manila.
The title was the first for UST since seven seasons ago and the eighth overall—
the most in the UAAP.
“So proud, so happy for the team,” UST head coach Dennis Sta. Cruz said.
“That was really our game plan—to get at least two singles matches in this final game. Luckily, we got three.” Finals MVP Mica Emana showed incredible poise and resilience in the second singles match. After splitting the first two sets, Emana dug deep to outlast Danna Abad, 7-5, 4-6, 6-2, to clinch the championship for the España-based squad.
“I just stayed strong and toughened up, just like how my coaches and my team trusted me—so I also believed in myself to be able to earn this award,” Emana said.
UST drew first blood in Game 3 behind the composed play of Patricia Lim in the third singles match where she overcame a tight first set against
Philippines where they played a pair of exhibition matches against local all-star teams. That was my first time sitting courtside, and I loved it. I hated going to the market with my mother because those bayongs sure were heavy. But when I saw these newsstands at both Farmer’s Market and Murphy, I was introduced to Sports Flash, Atlas Sports Weekly, and later, Champ. I purchased all three of them and amassed a collection of local sports newspapers and magazines.
And several decades later, not only did I cover the league for Business Mirror on occasion, but also for Philippine Star, but I briefly worked as editor-in-chief of the PBA’s magazines—PBA Life and one edition of Hardcourt, the PBA annual.
During this time, I made many friends among the professional teams but also its management and not to mention the press corps as well. I have been allowed inside dugouts pre-game, half-time, and post-match.
Obviously, there’s a lot of material that I cannot use because it remains inside the locker room.
However, if there is something that I would consider a feather in my PBA cap, it is introducing the Philippine Armed Forces to the PBA Finals.
Julia Carvajal before taking control for a 6-4, 6-1 victory.
“I t feels good knowing that we’ve earned this win. I’ve been here since Season 85,” Lim said. “We first won bronze and then silver in 86, and now gold. It was a long journey and I knew that we could make it. It was a team effort.”
C o-MVP Kaye Emana posted a gritty 6-2, 7-5 victory in the first singles match againast JM Carcueva to give UST a 2-0 cushion.
We went back to our previous match-up strategy, knowing they were undermanned because of Jasmine [Jaran]’s injury, so we returned to our old game plan— and it worked,” said Kaye Emana, who shared MVP honors this season with University of the Philippines’ Jufe Cocoy.
It was something I pitched to then-Commissioner Chito Salud who dispensed with the red tape and told me to make it happen. And we did. It happened.
If you see the US Military in many prominent American sporting events from the NBA Finals to the Super Bowl or the World Series (not to mention other countries who do the same thing),
