THE Philippines started the year with a lower gross international reserves (GIR) level compared to January and December last year, according to the Bangko Sentral ng Pilipinas (BSP).
Based on the preliminary data, the country’s GIR settled at $103.02 billion as of end-January 2025. This was a contraction of 0.24 percent from the $103.27 billion in January 2024.
The January 2025 figure was a contraction of 3.04 percent from the $106.3 billion posted at the end of December 2024.
“The month-on-month decrease in the GIR level reflected mainly the BSP net foreign exchange operations, and drawdown on the nation-
al government’s [NG] deposits with the BSP to pay off its foreign currency debt obligations,” BSP said.
The latest GIR level represents a more than adequate external liquidity buffer equivalent to 7.3 months’ worth of imports of goods and payments of services and primary income.
The BSP noted that the GIR is viewed to be adequate if it can finance at least three-months’ worth of the country’s imports of goods and payments of services and primary income.
Moreover, it is also about 3.6 times the country’s short-term external debt based on residual maturity.
The BSP also said short-term debt based on residual maturity refers to outstanding external debt with original maturity of one year or less,
plus principal payments on medium- and long-term loans of the public and private sectors falling due within the next 12 months.
“The level of GIR, as of a particular period, is considered adequate, if it provides at least 100 percent cover for the payment of the country’s foreign liabilities, public and private, falling due within the immediate 12-month period,” the BSP
By Cai U. Ordinario
THE Bangko Sentral ng Pilipinas (BSP) may be less aggressive in easing monetary policy rates as the country continues to be hounded by its inflation woes, according to a US-based think tank.
International financial institutions also expect the BSP to implement “a more gradual” easing of Monetary Policy this year. Nonetheless, a rate cut remains expected this week.
In its latest economic brief, GlobalSource Partners Country Analyst Diwa Guinigundo said reducing the required reserve ratio (RRR) is already helping increase money supply into the market.
“Most important, and this is our view, there is less compulsion for the BSP to be more aggressive in easing monetary policy through the policy rates, precisely because it has also been pumping more liquidity into the system by its significant reduction in the RRR,” Guinigundo said. The former BSP Deputy Governor said the RRR is now in single-digits after the BSP reduced it by 250 basis points to 7 percent from 9.5 percent.
This has infused the market with “hundreds of billions of extra money supply” which analysts said could reach over P300 billion based on the country’s full year GDP. (See: https://businessmirror.com.ph/2024/09/23/ rrr-cut-like-liquidity-infusion-of-%E2%82%B1310b%E2%82%B1330b-nomura/).
Guinigundo believes the reduction of the RRR could help address the cost and profit concerns of banks as this reduces their “opportunity loss” created by deposits that sit in their vaults without interest.
IBy Ma Stella F. Arnaldo Special to the BusinessMirror
NCREASING connectivity among destinations in the Philippines is helping boost the spending of tourists.
In a media interview, Philippine Travel Agencies Association Inc. (PTAA) public relations officer Chal Lontoc-Del Rosario said, “Like in the case of Palawan, we have flights direct to Boracay, as opposed to going back to Manila, then flying to Boracay.” The PTAA held the 32nd Travel Tour Expo (TTE) from February 7 to 9 at the SMX Convention Center in Pasay. The organization said about 35,000 would-be travelers visited TTE on the first day, alone. She explained that the increased connectiv-
ity allows travelers to explore “twin” destinations, and enable them to stay longer in the country. “I think that’s one of the patterns that [emerged] after the pandemic; people spend longer days in a particular area, and are more open to ‘twinning’ cities or going beyond one particular place. So I think that’s what [has driven] the higher revenue spending as well. So if I’m flying to Cebu, then automatically I’d probably explore Bohol as well.”
The Department of Tourism (DOT) has been highlighting the increased visitor receipts last year, even as it missed its 7.7-million arrivals target. Inbound receipts
by some
By Bless Aubrey Ogerio
carriers are on a downtrend due to declining demand from China and other seasonal factors, according to Tokyo-based Mitsui O.S.K. Lines (MOL).
“The current rates are actually on a downtrend for bulk carriers because there is a reduced demand in China,” Yosuke Ishibe, MOL corporate communication director, told BusinessMirror on Friday.
While specific figures were not provided, Ishibe clarified that the slowdown is not due to an
oversupply of vessels but rather a drop in demand. Seasonal factors, such as the rainy season in Brazil beginning in January, and logistical disruptions, including fires at Canadian export terminals, have further contributed to the decline.
Data from Taiwanese freight company Dimerco showed that the overall ocean freight market in the Philippines remains stable post-peak season. While rates may fluctuate with market conditions, ports are expected to operate normally throughout the month.
It forecasts ample shipping
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Diokno also reiterated Akbayan’s call that any improvements to the transport system must prioritize commuters’ welfare and safety and not just private vehicles.
The party-list group previously called on the government to extend the MRT and LRT lines’ operation to 12 midnight.
4-day work week’ ELECTION lawyer Macalintal, meanwhile, has his own recommendation: A four-day work per week in all government offices in Metro Manila where every day, three cities in Metro Manila will have no work on a staggered or alternate basis.
For instance, Macalintal explained, there will be no work in all government offices in Quezon City, Las Pinas City and Manila on Mondays; Pasay City, Taguig City and Caloocan City will have no work on Tuesdays; Mandaluyong City, Muntinlupa City and Parañaque
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capacity from the Philippines to Asia with stable rates this month. However, it expects rising prices and limited space for shipments to Europe, the US East Coast and the US West Coast.
The company also noted a slight dip in the Global Manufacturing PMI, from 50.0 in November to 49.6
City on Wednesdays; San Juan City, Pasig City and Makati City on Thursdays; and Malabon, Navotas, Valenzuela and Pateros on Fridays.
“The combination of the cities or areas in the alternating arrangement of one day-off per week will depend on the number of population or traffic condition therein as may be determined and recommended by the MMDA,” Macalintal said. He noted that when Manila and San Juan City celebrate Manila Day and Feast of St. John the Baptist, respectively, every June 24, light traffic is experienced because of the holidays in these two big cities. And only recently, he again noted, on January 13 traffic was very light when the Iglesia ni Cristo held a National Rally for Peace, work in government offices and classes were suspended in Manila and Pasay City.
“This staggered system of giving one day-off per week will certainly ease the traffic situation in Metro Manila, considering the substantial number of private vehicles that will not be used during this work day-off which will ultimately re -
in December. Despite this, global manufacturing performance in 2024 has so far outpaced that of 2023. Meanwhile, global economic growth in 2024 reached 2.7 percent, with a four-month high recorded in December.
The S&P Global Composite PMI rose from 52.4 in November to 52.6 in December, primarily driven by the services sector, especially financials. However, optimism for 2025 is fading due to geopolitical tensions and rising protectionism,
sult in saving gas and fuel,” he said. This will also allow jeepneys and bus drivers to double or triple their daily trips, thereby increasing their daily income.
Likewise, employees, he said, will save a lot from a day’s day-off in terms of transportation expenses, food and clothing.
On the other hand, to compensate for the eight hour loss from the one day-off, Macalintal said the working hours may be adjusted accordingly to comply with the 40hour work a week requirement.
“Employees may work from 7am to 12 noon and 1pm to 6pm for four days, which is also 40 hours a week. At any rate, it is very common that most employees stay late in the office even after office hours or come to work very early in the morning to avoid traffic,” he noted.
San Juan’s schedule HE added: “A little sacrifice from all concerned people and offices is not too much to ask for at this time when everybody is called upon to cooperate for the greater welfare of the public.”
which have affected confidence in Canada, the eurozone, the United Kingdom, China and Brazil.
Climate change
DESPITE the current challenges in freight rates, MOL remains focused on addressing climate change, which Ishibe described as a “key issue for our future sustainability.”
“In order to address climate change, we have to invest further capital. We may have to acquire more expensive fuel. But we believe
The four-day work week is already being practiced in some government offices, hence, there is no reason why it could not be implemented nationwide, Macalintal said.
“This proposal may also be adopted by private entities that may be similarly minded to join the government in its effort to solve this traffic problem and save energy. In a word, the government may be the first to enforce a four-day workweek or one day-off per week as an ‘experimental phase,’ before the private sector could participate. It could also be adopted in other metro cities, like Cebu, Davao and the like,” he concluded.
To mitigate traffic congestion, San Juan City Mayor Francis Zamora has adjusted the official work schedule from 7am to 4pm effective May 2, 2024, through Executive Order No. FMZ-168.
Zamora’s decision came in response to MMDA Resolution No. 24-08, Series of 2024, which advocates for a standardized working schedule across government offices in Metro Manila.
we are part of the industry to challenge this climate change by reducing emissions,” he said.
The company is part of the First Movers Coalition under the World Economic Forum, taking the lead in transitioning to liquefied natural gas (LNG) as a fuel source to cut emissions. It has also set an aggressive target to achieve net-zero emissions by 2050.
“Investment-wise, organizationwise, we are taking a very, very serious approach,” Ishibe said.
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and seals.
“The commitment of our BOC officers and personnel to uphold public safety through these successful operations cannot be understated. They continue to be proactive and thorough, using their expertise, skills, and technology to stop contraband from crossing our borders,” he said.
The physical examination and small baggage x-ray scanning at the Designated Examination AreasMICP were conducted by assigned Customs examiner and witnessed by the CIIS, PDEA, Enforcement and Security Service (ESS), Customs Anti-Illegal Drug Task Force (CAIDTF), Philippine Coast Guard (PCG), X-ray Inspection Project (XIP), and the Office of the District Collector (ODC).
The consignees, senders, and recipients of the shipment will also face charges under customs law for violating Section 118 (prohibited importation and exportation) and Section 1400 (misdeclaration) in the goods declaration in relation to Section 1113 (property subject to seizure and forfeiture) of the Customs Modernization and Tariff Act (CMTA) and Republic Act No. 9165 (Comprehensive Dangerous Drugs Act of 2002).
Cai U. Ordinario
Amid inflation…
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“Instead of their deposits sitting idly without interest at the BSP, the BSP effectively gives it back to the banks and in the process increases their loanable funds,” Guinigundo said.
“With the BSP’s policy rates down, banks have no excuse not to adjust both their high lending and low deposit rates. The credit channel could then become a more effective channel of monetary policy in helping achieve economic growth,” he added.
Guinigundo said food inflation remains a concern in the country, especially after the declaration of a food security emergency by the Department of Agriculture (DA) last week.
He noted that the National Price Coordinating Council made the recommendation because of the “extraordinary rise in local rice prices.” Rice carries a weight of 8.87 percent in the Consumer Price Index (CPI).
Apart from this, the country faces spillover effects from the latest policy shifts in the United States such as the higher tariffs on countries like Canada and Mexico; lower taxes for big businesses that could be inflationary; and the deportation of immigrants.
“Government functionaries in the departments of agriculture, trade and industry, energy, science and technology and local governments are accountable for the poor food production, logistics and supply management that have abetted the persistence of high prices,” Guinigundo said.
The IFIs’ view MEANWHILE, given these inflation concerns, international financial institutions expect the BSP to implement a more gradual reduction in policy rates.
HSBC Asean Economist Aris Dacanay said they expect the BSP to ease policy rates by as much as 75 basis points this year to bring down key interest rates to 5 percent by the fourth quarter of 2025.
Dacanay said they expect the BSP to cut by 25bp each in February (1Q), August (3Q), and December (4Q) this year.
He said while no rate cut will be made in the second quarter, they expect the BSP to again reduce the RRR by 200 basis points, bringing down the RRR to 5 percent from the current 7 percent.
“But caution is warranted. Upside risks to the policy rate outlook linger with uncertainty over how potential trade policies in the US will affect the Fed outlook,” Dacanay, however, said.
Meanwhile, Citi Economist for the Philippines Nalin Chutchotitham said one may expect the BSP to deliver a 25-basis-point policy rate cut this week on the back of weaker GDP growth and a moderate inflation outlook.
With a rate cut expected this week, Chutchotitham said, key policy rates will ease to 5.5 percent. She noted that 2024 GDP growth was weaker than expected at 5.6 percent.
She thinks BSP will also reduce rates by 25 basis points in June and August. Further reductions in policy rates will depend on global growth as well as the easing of monetary policy in the United States.
“Timing of subsequent rate cuts remains data-dependent, although we
maintain our calls for June and August, as the monetary policy stance remains tight, considering historical real neutral rate,” Chutchotitham said. The economist also said Citi revised its inflation forecasts by 0.1 percentage point to 3.2 percent in 2025 and 3.3 percent in 2026.
MB report’s concerns CHUTCHOTITHAM said the Monetary Board also highlighted some concerns over higher wages that could lead to faster inflation.
Citing the BSP’s Monetary Policy Report, Chutchotitham said the 8.1-percent increase in minimum wage was approved across 16 out of 17 regions. In Metro Manila, the wage increase was pegged at 5.7 percent in the second half of 2024.
“Aside from the general elections in May, we think that BSP could pause in April to reassess overall inflation risks, which may come from the expected rise of water and electricity rates during the year, and the programmed tax increases of alcohol [6 percent] & tobacco [5 percent] from the Universal Healthcare Act, according to the BSP’s Q4 2024 Monetary Policy Report,” Chutchotitham said.
Meanwhile, ANZ said the BSP is expected to lower its policy rate by 25 basis points to 5.5 percent in its upcoming monetary policy meeting this week. For 2025, ANZ expects the BSP to cut rate by 75 basis points. ANZ noted that with inflation reaching 2.9 percent in January 2025, unchanged from December 2024, there was an increase in food inflation in January 2025.
Based on the Philippine Statistics Authority (PSA), food has a 34.78percent weight in the CPI. Rice has the largest weight among food items, followed by Meat and Other Parts of Slaughtered Land Animals at 6.43 percent and Fish and Other Seafood, 5.66 percent.
“Although food inflation accelerated in January 2025, it was driven mainly by higher vegetables and meat prices. As these price rises were driven by inclement weather conditions late last year, they are likely to be temporary,” ANZ said.
“More importantly, rice prices which tend to have a more durable impact on overall inflation, have been more well behaved and should moderate further as the government allows for the release of buffer rice stocks. On balance, the outlook for inflation is benign,” it added.
Earlier, the PSA and local economists said that despite the decline in rice prices, the Philippines still faces a double whammy of high food and oil prices that could lead to faster inflation this year.
On Wednesday, PSA reported that inflation averaged 2.9 percent in January 2025, faster than the 2.8 percent posted in the same period last year.
At a briefing, National Statistician Claire Dennis S. Mapa cited indications that oil and LPG prices could increase. In terms of food, Mapa said the PSA will closely monitor meat, fish, and vegetables—the same commodities that posted high inflation in January 2025.
Better island connectivity boosting…
“Missed goal: 5.95-M foreign tourists visited PHL in 2024,” in the BusinessMirror January 6,2025.)
DOT pitches ‘hidden gems’ CITING data from the World Travel and Tourism Council (WTTC), the DOT said foreign visitors in the Philippines spend at least $2,073 per person, and now stay an average of 11 nights in the country compared to nine nights in 2019.
Speaking with reporters after opening the TTE, Tourism Secretary Christina Garcia Frasco made a pitch for under-the-radar destinations: “The beauty of the Philippines is that it’s a very diversified destination. We’re able to provide products for any type of traveler. So if you would like to be immersed in culture, of course, we have Vigan. And we have our Unesco World Heritage Sites. If you’d like to surf, we have Siargao as well as Aurora and of course, La Union. And if you are a mountain adventurer, of course we have Bukidnon and the hinterlands of Northern Philippines.”
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She also noted, “If you’re a foodie, the food is delicious in Pampanga. And of course, Angeles City is emerging as a global culinary icon, and those in Mindanao provide [visitors] opportunities to immerse with the Philippines’s Islamic culture as well as our indigenous culture. So there are so many to mention and I’m just so grateful that tourism is developing across the world in our destinations.”
Book only with legit firms FOR her part, PTAA President Evangeline Tankiang-Manotok underscored the importance of booking trips with legitimate travel agencies and suppliers, instead of doing so online, independently. “Yes, you can book a flight from your couch in your pajamas. [At] the PTAA Travel Tour Expo, it’s not just about booking a trip; it’s about experiencing travel before you can even leave your house...You are not just clicking through websites but talking face-to-face with experts. You are discovering hidden gems you would not find in any online
search. You’re getting insider tips, exclusive deals, and personalized recommended recommendations that no algorithm can match.” PTAA executives have stressed that their TTE exhibitors have been vetted and accredited by the organization, as they raised the alarm on rising travel scams. They stressed that with travel agencies, “you are covered in all aspects of the trip—from airfare, to transfers, hotels and tours,” and where there are actual people customers can speak with in case travel issues crop up, compared to nondescript, unaccredited travel agencies, which exist only online. The PTAA also held its 10th International TTE over the weekend, which featured business-to-business engagements between foreign tour operators from 40 countries and the organization’s memberbuyers.
Marbil: No tolerance for poll disruptions
THE National Police (PNP) chief, Gen. Rommel Francisco Marbil, on Sunday reiterated that the service will not tolerate any attempts to disrupt the coming 2025 elections
“As we approach the mid-term elections, the PNP remains steadfast in its duty to uphold peace and security. Any actions that incite violence, intimidate voters, or undermine the electoral process will be met with the full force of the law,” Marbil said.
areas of concern, and round-theclock checkpoints and patrols in high-risk areas.
Marbil underscored that safeguarding the integrity of the elections is a paramount priority and assured the public that the PNP will remain impartial and proactive in preventing any form of political violence.
Better idea
DESPITE calls from the Commission on Elections (Comelec) and other concerned groups for its temporary suspension, the PNP is continuing Oplan Katok—a door-to-door operation aimed at curbing loose firearms.
candidates or incumbent officials for intimidation.
Marbil admitted that having police officers visit homes could lead to “suspicions,” implying that the operation—whether intentionally or not—might be used to coerce civilians during the election period.
692 firearms at checkpoints.
For its part, the Commission on Human Rights (CHR) noted that while Oplan Katok is a “routine operation,” unwarranted door-to-door visits could create fear or intimidation among citizens.
To ensure honest, orderly and peace elections (HOPE), Marbil said that the force out thar the PNP launched a 100-day security plan on February 5 aimed at addressing potential threats, dismantling private armed groups, and maintaining order before, during, and after the elections.
“No political ambition should compromise public safety. The PNP will remain vigilant in ensuring that the elections are conducted peacefully, and those who attempt to disrupt this process through violence or intimidation will be held accountable,” Marbil said.
Key measures under this plan include intensified operations against loose firearms and wanted criminals, proactive intelligence monitoring to prevent electionrelated violence, strategic police deployments in identified election
‘Complaints vs natl budget mere diversionary move’
By Jovee Marie N. dela Cruz @joveemarie
LEADERS of the House of Represen -
tatives on Sunday dismissed the complaints related to the national budget against the leadership of the lower chamber as an attempt to divert public attention from the impeachment case against Vice President Sara Duterte.
Deputy Majority Leader Paolo Ortega who represents La Union and Assistant Majority Leader Jay Khonghun who represents Zambales in a statement slammed the allegations accusing Speaker Ferdinand Martin Romualdez, Majority Leader Manuel Jose Dalipe, and the former Committee on Appropriations chairman, Ako Bicol Rep. Zaldy Co of budget insertions in the 2025 national budget as “politically motivated and designed to undermine the House leadership.”
“These complaints have no basis. They are pure fiction. It’s clear that their goal is to shift the public’s focus away from the real issue—the impeachment trial of VP Duterte,” Ortega said.
“They are using Speaker Romualdez as a scapegoat to evade accountability,” he added.
For his part, Khonghun called the allegations an attempt to discredit the House’s overwhelming support for Duterte’s impeachment.
“This is nothing more than a desperate move to discredit the impeachment process,” Khonghun said.
“Speaker Romualdez has been instrumental in ensuring that the rule of law is followed, and now he is being targeted to weaken the case against VP Duterte,” Khonghun said.
He added: “The latest issue raised against Romualdez came shortly after the impeachment complaint against Duterte reached the Senate, raising suspicions about the timing of the allegations.
“The timing is too convenient. As soon as the impeachment complaint was transmitted to the Senate, these accusations against Speaker Romualdez suddenly surfaced. It’s clearly a diversionary tactic.”
The impeachment complaint against Vice President Duterte was filed on the grounds of alleged corruption involving confidential funds. It was endorsed by 215 lawmakers, a rare show of unity across party lines, signaling broad support for accountability.
Another 25 lawmakers who were unable to personally sign the complaint have since verified their support, bringing the total number of endorsers to 240—nearly 80 percent of the House.
Ortega warned that attempts to derail the impeachment trial through politically motivated cases would only backfire.
“If they think they can disrupt the im -
peachment trial with these tactics, they’re mistaken. This only proves they are afraid to face the truth,” Ortega said.
He urged the Senate to remain independent and not be swayed by external influences.
“The Senate must not be swayed by political distractions. The people demand transparency and accountability, and they will not be fooled by these diversionary tactics,” Ortega stressed.
As the impeachment trial looms, Khonghun emphasized the importance of maintaining focus on the charges against Duterte and ensuring a fair and transparent process.
“This is not a battle between politicians. This is a fight for truth and justice, and no diversionary tactic should be allowed to obscure that,” he said.
High crime
HOUSE Deputy Majority Leader Lorenz Defensor, one of the impeachment prosecutors, on Sunday condemned Vice President Sara Duterte’s alleged statement about ordering the assassination of President Ferdinand Marcos Jr., First Lady Liza Araneta-Marcos, and Speaker Ferdinand Martin G. Romualdez, calling it a grave crime that endangers national security.
“Hiring or even suggesting the hiring of an assassin is not just reckless rhetoric; it is a high crime that threatens the very foundations of our Republic,” Defensor, a lawyer, said.
“It is an attack not just on the individuals named but on the institutions they represent, especially the Office of the President, which is at the core of our government and national security framework,” he pointed out.
Defensor emphasized that the President, as Commander-in-Chief of the Armed Forces, holds the highest military authority, making his safety a matter of national interest.
“A crime against the President is not merely a personal offense; it is a crime against the Filipino people and a direct assault on national security,” he stressed.
“Any attempt, suggestion, or conspiracy to harm the Commander-in-Chief creates instability, weakens public trust, and emboldens elements that wish to destabilize our government,” he added.
Defensor explained that the Vice President, as a high-ranking government official, is bound by her oath to defend and uphold the Constitution.
Defensor warned that the alleged statement could constitute multiple criminal offenses, including conspiracy to commit murder, inciting to rebellion, and grave threats, all punishable under the Revised Penal Code.
“This is not just about impeachment;
While election security is a top priority, Marbil assured that the PNP’s broader mandate to combat crime, illegal drugs, and other threats to public safety will continue without letup.
In a press briefing on Friday, Marbil said the force is exploring a “better idea” to encourage firearm owners to renew their licenses or surrender their unlicensed firearms.
“We’ll come up with a better idea in coordination with the Comelec, and of course, with our firearms unit to ensure these weapons won’t be misused…We’ll come up with the suggestions, and we will decide and inform the public on what will happen,” he said, partly in Filipino.
The PNP also acknowledged Comelec’s concerns that Oplan Katok could be exploited by certain
The Comelec earlier suggested that notifications regarding one’s gun license be sent via letter instead of house visits.
However, Comelec Chairman George Erwin M. Garcia clarified that simply renewing a license to carry a firearm does not mean the owner can bring it outside residence.
“Even if they renew their license or have a permit to carry, they will still be arrested unless they have an exemption [from the Comelec],” he said.
Since the nationwide gun ban took effect on January 12, the PNP has confiscated more than
The CHR urged police personnel to uphold constitutional rights against unwarranted searches and seizures.
“Transparency and strict adherence to constitutional rights are imperative to prevent perceptions of misuse or intimidation—particularly in the highly charged political climate of an election season,” the CHR said. On January 30, the PNP assured the public that it would coordinate with Comelec to clarify the scope of Oplan Katok during the election period. However, the Comelec has yet to receive the new written guidelines from the PNP.
Canadian Navy willing to help PHL develop sub capability
THE Royal Canadian Navy (RCN) has expressed willingness to help the Navy (PN) develop its submarine capability highlighting the growing military ties between the two nations.
This was stressed by the captain of HMCS Ottawa (FFH-341), Capt. Norman Gautreau, during a courtesy call at the PN headquarters in Naval Station Jose Andara, Roxas Boulevard, Manila recently.
Gautreau was welcomed by the PN Fleet Training and Doctrines Center superintendent, Capt. Lorenzo Bolor, during the courtesy call.
Porac inaugurates ₧420-M town hall
By Ashley Manabat
PORAC, Pampanga—This town on Wednesday opened its newly-built P420 million town hall, whose design was inspired by the US Library of Congress.
Located on Circumferential Road in barangay Cangatba on a three-hectare lot, the new town hall is strategically located to provide easy access to most of Porac’s 29 barangays.
The blessing and inauguration ceremony was led by Sen. Lito Lapid, who provided funds for the town hall’s construction from his pork barrel and attended by Pampanga Vice Gov. Lilia Pineda, Porac acting Mayor Myla Clarete, as well as several mayors from the province.
Clarete expressed gratitude to Lapid for providing the funds used for the project.
Clarete assumed office in October 2024 following the suspension of Mayor Jaime Capil at the height of the controversy over Philippine Offshore Gaming Operations (Pogos), one of which, Lucky South 99 Incorporated, was located in the town and was which was raided four months earlier.
“The town of Porac and the local government are sincerely grateful to our good senator in his efforts to provide funds for the construction of our new municipality. His concern for us Poraqueños is greatly recognized and appreciated,” Clarete said.
The project cost was initially placed at P370 million and funded by the Department of Public Works and Highways (DPWH) through the initiative of Lapid, a native of Porac.
Public Works District engineer Bryan Frias said that the total cost
“The visit served as an avenue to strengthen ties between the two navies, focusing on future collaboration in training and military exercises. During the discussions, Captain Gautreau expressed the RCN’s willingness to offer submarine training to the Philippine Navy, further
enhancing their partnership in defense and maritime security,” the Navy spokesperson, Capt. John Percie Alcos, said in a statement Saturday night.
Submarine capability refers to the ability to operate, deploy and if needed use submarines to defend the country against
By Justine Xyrah Garcia & Rex Anthony Naval
A4
Monday, February 10, 2025
Cory finance secretary says Umic status in ’25 ‘a mirage’
By Rizal Raoul Reyes @brownindio
ORY Aquino finance secre -
Ctary Jesus Estanislao said the wish of President Marcos for the Philippines to attain an upper middle income country (Umic) status this year is not feasible.
Estanislao, who served as secretary of finance from 1990 to 1992, told the BusinessMirror in a oneon-one interview on Thursday afternoon that it is impossible for the country to attain Umic this year or next year because the economy is growing at a slower rate and is facing deficits that are growing faster.
“That’s a mirage. We could get there if they’re not doing all of this misappropriation of the budget. And quite frankly, the Executive has lost control over the budget process,” explained Estanislao, also a professor emeritus at the University of Asia and the Pacific. He recalled that the whole budget process in the Corazon Aquino administration saw the Chief Executive preparing a budget with all the economic managers to the priorities being observed. He added that their team also put importance on fiscal discipline, and ensured all the parameters of responsible government
are included.
Estanislao said he joined the January 31 rally because he wanted to warn the Filipinos that the country is again hurtling “into the deep black hole we fell into before 1983.”
“Some politicians are spending public money as if it grew on trees. The President has lost control over the budget process. The public deficit is rising at an alarming rate,” said Estanislao, who also served as chairperson of the Development Bank of the Philippines.
“I also refused to sign a letter circulated among former Finance Secretaries endorsing the DOF’s transfer of funds from PhilHealth, PDIC [Philippine Deposit Insurance Corp], and other GOCCs/GFIs [government-owned and -controlled corporations/ government financial institutions]—a desperate move to cover the extravagant corruption behind unprogrammed funds and other financial mismanagement. It is time to wake up,” he pointed out.
Estanislao said certain public officials are raiding the coffers of the GOCCs and GFIs “scooping up funds because Congress has diverted public money to fuel their extravagant corruption.”
“We must raise our voices in collective anger at the reckless, irresponsible,
and corrupt handling of our public finances,” he added.
In a statement, the Center for People Power in Governance (CenPEG) said the country is facing huge economic challenges such as rising poverty and inflation, with 63 percent of Filipinos considering themselves poor—the highest in 21 years.
“Food security remains critical, as rice prices stay high despite government assurances, and the Philippines remains the world’s largest rice importer,” it said.
Meanwhile, Ibon Foundation executive director Jose Enrique Africa said in a position paper posted online that Umic status does not necessarily mean that the Philippines will not reach upper middle-income status.
“The measure of being Umic is an average that completely obscures the conditions of the majority. Also, UMIC doesn’t really mean development in its most important sense of the well-being of people,” said Africa.
Status symbol IN 1989, Africa said the World Bank (WB) started classifying countries based on income levels.
“Their main motivation was to have a convenient indicator for designating whether a member country is or is not eligible to borrow and,
Senator urges bicam to pass aviation school
aviation education.
SBy Butch Fernandez @butchfBM
EN. Sherwin Gatchalian is prodding the Congress bicameral conference committee to pass the bill renaming the existing Philippine State College of Aeronautics (PhilSCA) to National Aviation Academy of the Philippines (Naap) that will also be declared as the “National Professional Institution for Aviation,” if signed into law by President Marcos.
Gatchalian aired the plea as he stressed the need to promote aviation safety and security following recent air crashes in the country. A US-contracted surveillance plane crashed in Maguindanao del Sur on February 6, killing all four occupants on board. A few days before that, a female
reached P420 million—P270 million for the building and P150 million for site development.
pilot died when her helicopter crashed in Guimba, Nueva Ecija.
Gatchalian said the National Academy of the Philippines Charter Act (Senate Bill 2969), mandates the school to provide young Filipinos with world-class academic and professional training in the field of aviation and related fields. The proposed measure also mandates the Naap to produce efficient and well-trained professionals who can competently respond to the needs of the local and international aviation industry.
The bill further mandates the Naap to strengthen aviation and other related programs by developing and offering industry-driven programs, spearheading collaboration between the academe and the industry, and leading to the implementation of innovative teaching and methods in
“The construction started in 2021. There was an initial funding of P100 million from Senator Lapid and it was funded yearly up to its completion late last year,” Frias said. The three-hectare site is being developed as the town’s government center. A newly built police station is now in the area and
if so, whether this borrowing is on commercial or concessional terms. It’s like a bank looking at someone who walks into a branch to borrow money and then charging low interest rates if they’re poor and high interest rates if they’re rich,” Africa explained.
According to Africa, the WB settled on using gross national income (GNI) per capita. GNI—which used to be called gross national product or GNP—is the total value of goods and services produced by a country’s residents whether domestically or abroad. The GNI is then divided by the population to account for differences in the size of countries.
With the WB estimating the Philippines GNI per capita reaching $4,230 in 2023, Africa expressed the government’s optimism for 2025.
Nonetheless, Africa said GNI does not even factor the loss or degradation of natural resources.
“If anything, economic activity that destroys the environment boosts GNI,” he said.
“The country’s political and economic structures are so rigidly unequal. So much so that while increasing economic activity boosts GNI and GNI per capita, the benefits from this are concentrated in an elite few,” Africa added.
bill
Gatchalian noted that “NAAP shall be mandated to offer short-term technicalvocational, undergraduate, and graduate courses on aviation and aviationrelated programs. These programs shall include a Bachelor of Science in Air Transportation specializing in Commercial Pilot; a Bachelor of Science in Aeronautical Engineering, including Drone Technology; an Associate in Aircraft Maintenance Technology; and an Associate in Aircraft Electronic Technology.”
In prodding Congress, Gatchalian added that the proposed enabling law also provides that the NAAP shall take affirmative steps to give equitable access to its programs and services for disadvantaged students, Indigenous peoples, poor but deserving
students, valedictorians and salutatorians of public high schools, and students from depressed areas.
He also noted that Naap shall further provide scholarships and other affirmative action programs to assist poor but deserving students who qualify for admission.
“In pursuing its mandate, the Naap shall develop aviation leaders in the Philippine aviation and aerospace industry, both in the private or commercial sector and the government. The enactment of the proposed measure would enable the Philippine aviation industry to be at par with its international counterparts,” Gatchalian said in the bill’s explanatory note.
From Academic Year (AY) 2014-15 to AY 2023-24, the PhilSCA system has maintained an average annual enrollment of 18,040 students, while producing an average of 3,266 graduates, on average, per year during the same period.
plans for additional offices are afoot.
The family of former vice mayor Genaro Dimalanta who served from 1960 to 1963 donated the lot. His son, Rafael, said the family donated the once agricultural land as a gesture of giving back to the community.
“Uling anyang malati cami, ini ing panabilin na ning tatang mi, ining pamaglingqud careng taung balen. So, anyang miqa oportunidad a makasaup nung nucarin de ibili ing munisipyo, we grabbed itang opportunity uling ing buri
da talaga keng pamilya mi ing pamanyilbi careng taung balen,” Dimalanta said in Capampañgan.
(Because when we were young, this was our father’s will, to serve the people. So when there was an opportunity to help where to place the new municipality, we grabbed the opportunity because this is what our family really wants, to serve the people of the town.)
The old town hall will be repurposed as the extension of the Don Honorio Ventura State University.
www.businessmirror.com.ph
DHSUD turns 6 with housing showcase
TBy Bless Aubrey Ogerio
HE Department of Human Settlements and Urban Development (DHSUD) will mark its sixth anniversary with a series of events highlighting key housing initiatives and policy commitments.
Themed “Six Years of Empowering Lives: Building Homes, Building Futures for Every Filipino Family,” the weeklong celebration will start on Monday with a housing exhibit featuring ongoing projects under the Pambansang Pabahay Para sa Pilipino (4PH) program, as well as housing finance options from key shelter agencies.
It will also hold live discussions on its official Facebook page on February 11 and 13 through “Kapihan sa DHSUD: Housing Matters.” The segments will feature government officials and program beneficiaries discussing the department’s future initiatives.
A ceremonial signing of the Comprehensive Land Use Plan and the Provincial Development Physical Framework Plan for several local governments will be held on February 13.
Among the cities and provinces included are Angeles City, Agusan del Sur, Negros Occidental, Northern Samar, Pasig City, Bulacan, Laguna, Sarangani, Siquijor and Zamboanga del Norte.
The event will culminate on February 14 with a program highlighting the agency’s milestones. On February 16, employees will participate in an anniversary fun run.
Impeachment. . .
Continued from A3
this is a matter of law enforcement,” he explained. “Threatening or conspiring to harm the President is a serious crime that demands immediate investigation and accountability.”
He said that the House of Representatives had no choice but to impeach Duterte, given the severity of her actions, which he described as “a betrayal of public trust and a gross violation of her duties as Vice President.”
Clark soon
to
CDHSUD was established in 2019 through Republic Act 11201.
4PH portal THE DHSUD has also launched a new website to serve as a one-stop platform for its flagship housing program the Pambansang Pabahay para sa Pilipino (4PH). The site provides key details on 4PH, including policies, application guidelines, project updates, and interactive features designed to make the program more accessible.
Housing Secretary Jose Rizalino Acuzar encouraged the public to explore the platform, highlighting its role in streamlining applications and improving access to housing opportunities.
“While we are building thousands of housing units across the country, we encourage everyone to access the website and learn more about the processes involved for them to better understand and appreciate 4PH,” Acuzar said. Developed by the Knowledge Management and Information Systems Service, the portal also includes frequently asked questions, eligibility requirements and key program issuances for developers and local government units. As of January 31, the website features a carousel on its main page showcasing ongoing housing projects, an overview of 4PH and a project gallery showing development progress. The 4PH website is live at https://dhsud. gov.ph/4ph-program/
Throughout the week, DHSUD will provide free legal consultations, facilitate direct housing loan assistance through the Home Development Mutual (Pag-Ibig) Fund, and showcase various programs from the National Housing Authority, the Social Housing Finance Corporation and the National Home Mortgage Finance Corporation.
Defensor urged the Senate, law enforcement agencies, and the national security sector to treat this case with the urgency it deserves.
“If this is allowed to pass without consequences, it will send a dangerous message that even the highest officials of the land can threaten national leaders and institutions without accountability,” he warned. “That is a risk we cannot afford to take.” He also called on the public, the military, and all democratic institutions to stand firm in upholding the rule of law and preserving the integrity of the government.
have PHL’s tallest control tower
LARK FIELD, Pampang—This free port will soon boast of the tallest air traffic control (ATC) tower in the Philippines.
An executive of the state-run Clark International Airport Corp. said ATC tower located at this free port zone is expected to be completed by the second quarter of this year.
CIAC President Jojit Alcazar made this announcement after a meeting with the project management team that arrived last week from Europe after attending series of training courses on ATC equipment.
Engineers and specialists from CIAC and the Civil Aviation Authority of the Philippines recently completed training by air traffic communication manufacturers based in Larvik, Norway, and Milan, Italy, on the operations of traffic communication, navigation and surveillance systems.
The new ATC is envisioned to become Clark’s newest iconic landmark at 18-storeys or around 54 meters tall. It will serve as a landmark to all those traversing the Subic-Clark-Tarlac Expressway (Sctex) or traveling to the Clark International Airport.
“The tower will become an outstanding asset of the Marcos administration and is aimed at improving facilities servicing the world-class Clark International Airport. We’ll be able to vastly improve Clark’s air traffic control system and allow for increased safety as we anticipate an increase in the volume of air travel,” Alcazar said. In addition, the new ATC will enhance development efforts being done for CIAC’s Flagship Projects, which include a National Food Hub, a World Convention and Events Center, and a Multi-Modal Mobility Hub. The Clark Air Traffic Control Project was awarded to MSV Construction and Supplies and funded through CIAC’s parent company, the Bases Conversion and Development Authority.
CIAC is the land development and aviation arm of the BCDA which manages the Clark Aviation Capital covering prime government land surrounding the Clark International Airport. Jojo Due ARTIST’S rendition of the soon to be completed Clark air traffic control (tower).
THE newly inaugurated P420 million town hall of Porac, Pampanga, that was officially opened on Wednesday last week.
Porac. . .
Imported rice arrivals fall by half in Jan–BPI
RBy Ada Pelonia @adapelonia
ICE arrivals in January declined by more than half compared to the volume that entered the country in the same month last year, based on latest government data.
Figures from the Bureau of Plant Industry (BPI) showed that the volume of rice shipments that arrived in the Philippines last month reached 229,939 metric tons (MT), 53.57 percent lower than the 429,260.80 MT recorded in January 2024.
port clearances (SPSICs) for the purchase of 379,682.98 MT of imported rice.
Under the rice tariffication law, importers should secure an SPSIC from the BPI to ensure that an inbound shipment is safe for human and animal consumption.
Wholesale prices
MEANWHILE , preliminary data from the Philippine Statistics Authority (PSA) showed that the average wholesale price of regular milled rice shrank by 10 percent to P42.18 per kilo in January from P46.86 per kilo a year ago.
BPI data indicated that the agency approved and issued 471 sanitary and phytosanitary im -
Of the volume that arrived in the country, BPI data indicated that 158,464.40 MT came from Vietnam. Thailand was the second-largest supplier, accounting for 32,029.75 MT. The Philippines also imported rice from other countries, such as Pakistan (26,425 MT), Myanmar (8,403 MT), and South Korea (2,000 MT).
‘Tariff war, weak demand to cut base metal prices’
TEPID market sentiment will likely pull down global base metal prices in the first half of 2025, which could dent the earnings of local nickel exporters.
BMI, a unit of Fitch Solutions, recently reported a bearish outlook for base metals across the three- to six-month timeframe, noting price volatility in the metals market driven by US President Donald Trump’s tariff policies and “significant” downside risks to Mainland Chinese metals demand.
Currently, nickel and lead futures registered year-on-year declines at $15,425 per metric ton (MT) and $1,966.5 per MT, respectively. In contrast, aluminum posted gains at $2,626.5 per MT, tin at $30,190 per MT, and copper at $9,122 per MT.
“Our bearish outlook on metals stems from dampened investor sentiment following the latest trade tariffs announced by the Trump administration, uncertainty surrounding Mainland Chinese demand for metals, and healthy supply,” a BMI analyst told the B usiness M irror via email.
Trump recently announced sweeping tariffs to be levied on Canadian, Mexican, and Chinese imports. However, the US president suspended duties on shipments from Mexico and Canada for 30 days while the additional 10-percent tariffs on China’s goods went ahead.
“For the case of nickel especially, we expect abundant supply from Indonesia to place a cap on prices,” the analyst said.
Nickel production
BLOOMBERG reported that the Indonesian government is mulling over slashing its nickel mining quotas to 150 million metric tons (MMT) this year from 272 MMT in 2024 to boost slumping prices. Indonesia is the world’s largest producer of the base metal. However, while cuts in the output of Indonesia’s nickel mines may reduce global supply, this could benefit the Philippines, one of the world’s top nickel ore producers. (See: https://businessmirror.com. ph/2025/01/13/nickel-prices-seenimproving-with-indonesias-plan-tocut-mines-output/)
Dan Smith, head of research at Amalgamated Metal Trading Ltd., had told the B usiness M irror that the Philippines continues to be a significant supplier of nickel ore to Indonesia, which is a major
producer of nickel pig iron (NPI).
He added that in 2024, the Indonesia Weda Bay Industrial Park (IWIP) received around 4 MMT of nickel ore from the Philippines during the January to September period, which eased ore tightness in the latter part of that year.
This, as Bloomberg reported last year that nickel smelters in Indonesia face a shortage of ore due to government licensing issues, which drove up imports from the Philippines.
However, he noted that while Indonesian nickel ore processing capacity expands, “the Philippines faces pressure to enhance its value chain by processing more ore domestically rather than relying solely on raw exports.”
“Typically there is more economic valueadded by processing ore domestically. If you just send out raw exports [...] fewer jobs will be created,” Smith said.
‘Ban raw mineral exports’
MEANWHILE , the Philippines plans to ban raw mineral exports in its bid to encourage the development of local downstream industries, producing higher-value exports, and generating more jobs.
Senate President Francis “Chiz” Escudero introduced the provision amending Senate Bill 2826, which will take effect after five years if signed into law.
“What we are looking at is to shift our policy from merely exporting raw minerals that will be utilized by other countries to produce higher value products, to developing our own processing capabilities,” Escudero said.
“This will result in added value for our minerals-related exports, provide a muchneeded boost to our economy, and generate employment for our people.”
He said the five-year period is meant to provide the mining operators time to establish processing plants and downstream industries.
“Nickel and copper are key components in the production of lithium batteries of EVs and if we can harness the potential of these minerals here in the country, we can secure our place in the global supply chain, particularly in the production of EV batteries and maybe someday, our very own EV.” Ada Pelonia
The fastest decline in regular milled rice was registered in Soccsksargen, where the price of the staple declined by 15.8 percent to P39.51 per kilo last month from P46.92 per kilo in the previous year.
This was followed by Western Visayas where the average price
slid by 13.8 percent to P39.88 per kilo from P46.27 per kilo in January 2024.
The average price last month was also 3.3 percent lower than
the P43.60 per kilo recorded in December. Meanwhile, the PSA said the average wholesale price of well-milled rice declined by 6.7
percent to P46.71 per kilo last month from P50.07 per kilo a year ago.
The fastest drop was also recorded in Soccsksargen as prices fell by 14.6 percent in January to P42.75 per kilo from P50.04 per kilo in January 2024.
Caraga region trailed behind with a 12.6-percent decline in rice prices to P43.20 per kilo last month from the P49.43 per kilo recorded in the previous year. The average price of well-milled rice was 1.8 percent lower than the P47.57 per kilo registered in December.
Prevailing retail prices of imported rice in Metro Manila markets stood at P45 per kilo for wellmilled and P42 per kilo for regular milled, while local rice was P46 per kilo for well-milled and P41 per kilo for regular milled, based on the latest government price monitoring report.
Tamban in Codex seen boosting PHL sardines export
THE inclusion of the sardine species tamban in the international food standards body eases trade barriers and boosts the country’s fisheries sector, according to the Department of Agriculture (DA).
The Codex Alimentarius Commission (CAC) officially included tamban (Sardinella lemuru) in the Codex Standard for Canned Sardines and Sardine-Type Products or CXS 94-1981, which the agency said resolved the long-standing export challenges, particularly to major markets like Europe.
“This landmark event eliminates trade barriers, enhances global market access, and elevates the country’s position in the sar -
dine industry,” the DA said in a statement.
In 2013, the agency said researchers discovered that tamban had often been misidentified as another sardine species, which created confusion.
This caused concern in 2016 and 2017 when European Union (EU) authorities rejected shipments of Philippine canned sardines since tamban was not listed in their product standards, it added.
“The EU’s strict requirements for sardine species led to missed export opportunities, costing the Philippine sardine industry valuable market access.”
To hurdle this challenge, the National Fisheries Research and
Development Institute (NFRDI) implemented a series of projects aimed at including tamban in the list of authorized species for export in global markets.
Thus, in 2020, the Philippines submitted a proposal to the Codex Secretariat to include tamban in the Codex Standard. During the 43rd CAC session, the Codex Committee on Fish and Fishery Products (CCFFP) was reactivated to review the proposal.
Norway recommended the Philippines lead the Electronic Working Group (EWG) to establish scientific evidence. The proposal received broad support and underwent extensive technical and sensory evaluation. The
New BFAR chief told to protect small fishers
By Jovee Marie N. Dela Cruz @joveemarie
THE chairman of the House Committee on Aquaculture and Fisheries Resource called on the newly appointed chief of the Bureau of Fisheries and Aquatic Resources (BFAR) to maintain the agency’s “laser focus” on protecting and uplifting the country’s small-scale fishers.
House Committee on Aquaculture and Fisheries Resources
Chairperson Brian Raymund Yamsuan lauded BFAR Director Elizer Salilig’s “passion and dedication to help over two million marginalized fisherfolk break free from the cycle of poverty that has plagued them for decades.”
“We certainly welcome the President’s appointment of Mr. Elizer Salilig as the new national director of BFAR. Director Salilig’s vast institutional memory and experience,
especially when it comes to improving the plight of poor fishing communities, certainly assures us that with him at the helm, BFAR would be able to expand and enhance its programs to support our beleaguered fishers and boost our food security.”
Salilig and several key officials of the BFAR made a courtesy call on Yamsuan last week.
The lawmaker said safeguarding the interests of small fishers is crucial at this time when their survival could be threatened by a Supreme Court (SC) decision which cleared the way for commercial fishing companies to gain unobstructed access to municipal waters.
The SC First Division upheld a 2023 Malabon Regional Trial Court (RTC) decision that declared unconstitutional certain provisions of the Fisheries Code granting small-scale fishers preferential access to municipal waters. Under
Near record high cocoa prices are destroying chocolate demand
RISING chocolate prices will hurt demand this year, resulting in a smaller than anticipated supply shortfall, according to JPMorgan Chase & Co.
The bank’s analysts trimmed their deficit estimates for the current 2024-25 season to 40,000 tons, from their autumn forecast of 108,000 tons. That’s mainly because they expect demand to fall by at least 1.8 percent as historically high cocoa prices dent consumption. However, chocolate prices for consumers are likely to keep on rising, as companies try to offset higher costs.
Cocoa futures nearly tripled last year on concerns about supply from West Africa and are currently trading near $10,000 a ton in New York. Recent earnings by
chocolate makers suggest that previously resilient demand is weakening.
“Historically high prices are destroying demand and we look for world grindings to contract by at least -1.8 percent yearon-year,” the JPMorgan analysts said in a research note.
Lower sales volumes are signaling that consumers are cutting back. To ease the cost pressures, the industry is increasingly looking to reformulate recipes by replacing cocoa with other ingredients, Hershey Chief Executive Officer Michele Buck told investors on Thursday.
Coffee rally
COFFEE’S recent dizzying rally could see prices for consumers jump in the next
few months and hurt demand, according to Andrea Illy, chairman of Italian roaster Illycaffè SpA.
Futures for the high-end arabica beans favored by brands like Illy and Starbucks have been on a tear, doubling over the past year and trading above $4 a pound this week. The focus has been on tighter supplies out of top coffee grower Brazil, and concerns its next arabica harvest may also be impacted by bad weather.
Asked if retail prices could increase as much as 20-25 percent in the next few months, Illy, told Bloomberg TV in an interview, “it’s possible.”
Already, the eye-watering price run-up has hurt demand in major markets and is starting to curb once-booming consump -
tion growth in emerging economies. Illy said the risk remained that soaring prices could see people cut back on their caffeine kick.
The recent rally—arabica futures are on the longest upward streak on record—has been fueled by a lack of insight on future supply and short-term speculation, he added. Apart from stocks at exchange-monitored warehouses, it’s unclear how much supply is available in both origin and destination countries, Illy said. “We are navigating this market blind.”
The most-active arabica futures contract in New York rose just about 1 percent on Friday and is on track for a weekly gain of about 6 percent. Bloomberg News
the law, these waters—spanning 15 kilometers from the shore— were reserved for small fishers to safeguard their livelihoods and ensure marine ecosystem sustainability.
BFAR has already filed a motion urging the Supreme Court to reconsider its ruling.
During his meeting with Yamsuan, Salilig affirmed that BFAR is prioritizing this legal battle while also exploring possible amendments to the Fisheries Code to strike a balance between municipal and commercial fishing interests.
In response, Yamsuan said his committee is prepared to conduct an inquiry into the social and economic consequences of the SC ruling, following a resolution filed by fellow lawmakers seeking an investigation.
amendment was adopted on November 27, 2024. The agency noted that this inclusion aligns Philippine sardine products with global standards, ensuring compliance with EU regulations and opening new export markets for local products.
“The addition of Sardinella lemuru in the Codex Standard highlights the Philippines’ commitment to innovation, quality, and global competitiveness,” the DA said.
“This significant move strengthens the country’s reputation as a trusted supplier of premium sardine products, solidifying its role as a key player in the international seafood market.” Ada Pelonia
Congress adjourned on February 5 and will resume session on June 2. Yamsuan remains confident that Salilig’s leadership will bring “meaningful reforms” to the fisheries sector. He said Salilig, a seasoned career official, has long been an ally of small fishers, with programs focused on empowering municipal fishing communities.
“The irony is that our small fishers remain among the poorest of the poor despite our abundant marine resources. We are happy to learn that Director Salilig has long been helping municipal fishing communities in processing and marketing their catch, along with assisting them in utilizing modern tools as a means to raise their incomes,” he said.
“We will work with Director Salilig to assist him in getting his programs implemented on a nationwide scale and with sufficient funding.”
“We are just waiting for the action of the Committee on Rules on the resolution and its referral in plenary session to our panel.”
THIS BusinessMirror file photo shows assorted rice varieties for sale at a grocery in Antipolo.
Hostage exchange sparks outrage in Israel as ceasefire holds amid tensions in Gaza
By Wafaa Shurafa, Mohammad Jahjouh & Tia Goldenberg
The Associated Press
DEIR AL-BALAH, Gaza Strip— Hamas-led militants released three gaunt, frail-looking Israeli hostages and Israel freed nearly 200 Palestinian prisoners Saturday in the latest exchange of a ceasefire that has paused 16 months of war in Gaza.
The hostages’ condition and scenes of Hamas forcing them to speak in a handover ceremony sparked outrage in Israel and could increase pressure on Prime Minister Benjamin Netanyahu to extend the ceasefire beyond its current six-week phase.
Netanyahu has signaled he would resume the war, even if that means leaving dozens of hostages in captivity. “President Trump completely agreed with me: We will do everything to return all the hostages, but Hamas will not be there,” Netanyahu said after the exchange.
Civilians Eli Sharabi, 52; Ohad Ben Ami, 56; and Or Levy, 34, were among about 250 people taken during the Hamas-led attack on Israel on October 7, 2023, that sparked the war.
Israelis’ joy turned to shock and tears when they saw their emaciated state. Later Saturday, Israel released 183 Palestinian prisoners, some also appearing gaunt and weak. The Red Crescent said seven were taken to hospitals. Many Palestinians released during the ceasefire have appeared emaciated, and have alleged abuses in custody.
It was the fifth exchange since the ceasefire began January 19. Twentyone hostages have now been freed.
The Red Cross said it was “increasingly concerned about the conditions surrounding release operations” and urged all parties to ensure releases are dignified and private.
A dozen more hostages yet to be freed in first phase
A N Israeli Health Ministry repre -
sentative, Dr. Hagar Mizrahi, noted “severe malnutrition” and a “significant decrease” in body weight in the hostages released, as families again feared for the dozens of others still held in Gaza. Not all are alive.
“If anyone had any doubt about how urgent it is to bring everyone back ... today we got a wake-up call,” Moshe Or, brother of hostage Avinatan Or, told a weekly rally in Tel Aviv.
Gal Hirsch, Netanyahu’s coordinator for hostages, said that “we will not remain silent about this. A message has been passed on to the mediators, and action will be taken accordingly.”
Hamas’ military wing said it had made efforts to preserve the hostages’ lives “despite the (Israeli) bombardment.”
The ceasefire’s first phase calls for the release of 33 hostages and nearly 2,000 Palestinian prisoners, the return of Palestinians to northern Gaza and an increase in humanitarian aid to the devastated territory. Israel says Hamas has confirmed eight of the 33 hostages are dead.
US President Donald Trump’s stunning proposal to transfer the Palestinian population out of Gaza could complicate talks over the second and more difficult phase, when Hamas is to release dozens more hostages in return for a lasting ceasefire. His proposal was welcomed by Israel but rejected by Palestinians and most of the international community.
Hamas may be reluctant to free more hostages if it believes the US and Israel are serious about depopulating Gaza, which rights groups say would
violate international law.
Netanyahu on Saturday directed a delegation to go to Qatar to discuss the ceasefire agreement’s technical details, and the security Cabinet will meet about negotiations on the truce’s second phase, according to an Israeli official who spoke on condition of anonymity because they weren’t authorized to discuss details of the talks.
Hostages learn of loved ones’ fate
S H ARABI a nd Ben Ami were captured from Kibbutz Beeri, one of the farming communities hardest hit by the Hamas attack, while Levy was taken from the Nova music festival.
They are only now learning the fate of some family members, according to Israeli media. Sharabi’s wife and two teenage daughters were killed, and his brother Yossi died in captivity. Levy’s wife was killed. Ben Ami’s wife, Raz, was released during a weeklong ceasefire in November 2023 that saw more than 100 hostages freed.
“It’s over, it’s over,” Levy’s brother Michael said as they embraced.
“I left XXL, I came back medium,” Ben Ami said as he hugged his daughters. One of them, Ella, told Israeli channel 12 that “it took me a moment to realize that this was my father.”
The Palestinian prisoners released include 18 serving life sentences for deadly attacks on Israelis, 54 serving
Korea’s Kim slams US-South Korea-Japan Partnership, vows to boost his nuclear program
SBy Hyung-Jin Kim
The Associated Press
EOUL, South Korea—North Korean leader Kim Jong Un said an elevated US security partnership with South Korea and Japan poses a grave threat to his country and vowed to further bolster his nuclear weapons program, state media reported Sunday.
Kim has previously made similar warnings, but his latest statement implies again that the North Korean leader won’t likely embrace President Donald Trump’s overture to meet him and revive diplomacy anytime soon.
In a speech marking the 77th founding anniversary of the Korean People’s Army on Saturday, Kim said the US-Japan-South Korea trilateral security partnership established under a US plot to form a NATO-like regional military bloc is inviting military imbalance on the Korean Peninsula and “raising a grave challenge to the security environment of our state,” according to the official Korean Central News Agency.
“Referring to a series of new plans for rapidly bolstering all deterrence including nuclear forces, he clarified once again the unshakable policy of more highly developing the nuclear forces,” KCNA said.
long-term sentences and 111 Palestinians from Gaza detained after the October 7 attack but not tried for any crime. All are men, ages 20 to 61.
Virtually every Palestinian has a friend, relative or acquaintance who has been imprisoned.
Seven of the released prisoners were transferred to Egypt. Others were transferred to Palestinian custody in the occupied West Bank, where cheering supporters welcomed them. Some had been detained over offenses ranging from bomb attacks to involvement in militant organizations.
They include Iyad Abu Shakhdam, 49, locked up for nearly 21 years over his involvement in Hamas attacks in crowded civilian areas that killed dozens of Israelis. That included a 2004 suicide bus bombing in Beersheba that killed 16 people.
“From October 7, 2023, to today we don’t know anything about what is happening outside the prison,” Shakhdam said.
Another is Jamal al-Tawil, a prominent Hamas politician, whose last reported arrest was in 2021 over alleged efforts to entrench Hamas’ leadership in the West Bank. He was transferred to administrative detention, a renewable six-month period in which suspects are held without charge or trial. Goldenberg reported from
lapsed because Trump rejected Kim’s offer to dismantle his main nuclear complex, a partial denuclearization step, in return for broad sanctions relief. North Korea hasn’t directly responded to Trump’s recent overture, as it continues weapons testing activities and hostile rhetoric against the US. Many experts say Kim is now preoccupied with his dispatch of troops to Russia to support its war efforts against Ukraine. They say Kim would still eventually consider returning to diplomacy with Trump if he determines he would fail to maintain the current solid cooperation with Russia after the war ends.
In his Saturday speech, Kim reaffirmed that North Korea “will invariably support and encourage the just cause of the Russian army and people to defend their sovereignty, security and territorial integrity.” Kim accused the US of being behind “the war machine which is stirring up the tragic situation of Ukraine.”
Zelenskyy confirms new Ukrainian offensive in russia’s Kursk region
YIV, Ukraine—Ukrainian
KPresident Volodymyr Zelenskyy confirmed a new Ukrainian offensive in Russia’s Kursk region and said that North Korean troops were fighting alongside Russian forces there.
“In the areas of the Kursk operation, new assaults have taken place,” Zelenskyy said during his Friday address, adding, “Russia has once again deployed North Korean soldiers alongside its troops.”
According to Zelenskyy, a “significant number” of enemy troops were destroyed. He gave no details but said the losses were in the hundreds.
Russia’s Ministry of Defense said Saturday that it had repelled a Ukrainian counterattack in the Kursk region.
Russia said Friday its forces had captured the mining town of Toretsk in their latest breakthrough in eastern Ukraine’s Donetsk region, where Ukrainian defenses are creaking. Ukrainian officials did not confirm the report.
South Korea’s military said last month that it suspected North Korea was preparing to send additional troops to Russia after its soldiers suffered heavy casualties. North Korea has been supplying a vast amount of artillery and other conventional weapons to Russia, and last October it sent about 10,000-12,000 troops as well, according to US, South Korean and Ukrainian intelligence.
Since his January 20 inauguration, Trump has said he would reach out to Kim again as he boasted of his high-stakes summit with him during his first term.
During a joint news conference with Japanese Prime Minister Shigeru Ishiba on Friday, Trump said that “We
Amid stalled diplomacy with the US and South Korea in recent years, Kim has focused on enlarging and modernizing his arsenal of nuclear weapons. In response, the United States and South Korea have expanded their bilateral military exercises and trilateral training involving Japan. North Korea has lashed out at those drills, calling them rehearsals to invade the country.
will have relations with North Korea, with Kim Jong Un. I got along with him very well, as you know. I think I stopped the war.”
During a Fox News interview broadcast on January 23, Trump called Kim “a smart guy” and “not a religious zealot.” Asked whether he will reach out to Kim again, Trump replied, “I will, yeah.”
Trump met Kim three times in 2018-19 to discuss how to end North Korea’s nuclear program in what was the first-ever summitry between the leaders of the US and North Korea. The high-stakes diplomacy eventually col-
In South Korea, some worry that Trump might abandon the international community’s long-running goal of achieving a complete denuclearization of North Korea to produce a diplomatic achievement.
But a joint statement issued by Trump and Ishiba after their summit stated the two leaders reaffirmed “their resolute commitment to the complete denuclearization of the DPRK,” the acronym of North Korea’s official name, the Democratic People’s Republic of Korea. The statement said the US and Japan also affirmed the importance of the Japan-US-South Korean trilateral partnership in responding to North Korea.
Russia’s Defense Ministry also said that 36 Ukrainian drones were shot down overnight into Saturday in four regions of western and southwestern Russia. No casualties were reported but Rostov regional Gov. Yuri Slyusar said 14 apartment buildings were damaged in the southwestern city of Rostov-on-Don.
Moscow sent 139 drones into Ukraine overnight into Saturday, Ukrainian officials said. According to Ukraine’s air force, 67 drones were destroyed and 71 electronically jammed. AP
Meanwhile, one person was killed and 10 wounded Saturday in a Ukrainian strike on the city of Makiivka, a town in Ukraine’s partially occupied eastern Donetsk region, Moscow-installed officials said.
Freed Thai hostages return to Bangkok after being held for over a year in Gaza
By Jintamas Saksornchai
BThe Associated Press
ANGKOK—Five Thai workers released after being held hostage for over a year in Gaza arrived in Bangkok on Sunday.
Sarusak Rumnao, 32, Watchara Sriaoun, 33, Sathian Suwannakham, 35, Pongsak Thaenna, 36, and Bannawat Saethao, 27, were freed on January 30 as part of an exchange arrangement.
They were embraced by family members, some of whom cried, in the arrivals hall at Suvarnabhumi airport. Thai Foreign Minister Maris Sagniampongsa and the Israeli Ambassador to Thailand Orna Sagiv were both at the airport to welcome home the freed hostages.
“We are all very grateful and very happy that we get to return to our homeland. We all would really like to thank you. I don’t know what else to say,” Pongsak told a news conference at the airport.
Maris said the Thai government “never gave up hope and here is the result today. The tears of joy are our encouragement.” He added that Bangkok would continue working to secure the release of the remaining Thai hostage.
The group quickly left the news conference to return to their hometowns in Thailand’s northern and northeastern regions.
They were the second batch of Thai hostages released since the war broke out. During an earlier ceasefire in November 2023, 23 Thai nationals were released in a deal negotiated between Thailand and Hamas, with assistance from Qatar and Iran.
All five men were assessed at a hospital outside Tel Aviv prior to their return. Four of them were joined by one relative each earlier this week. The trip was sponsored by the Israeli government, according to the Thai Embassy in Tel Aviv.
Hamas militants kidnapped 31 Thai nationals during the October 7, 2023, assault on southern Israel, making them the largest group of foreigners held captive. Many of the Thai agricultural workers lived in compounds on the outskirts of southern Israeli kibbutzim and towns, and Hamas militants overran those places first. A total of 46 Thais have been killed during the conflict, including two Thai citizens who were killed during the attack and their bodies taken into Gaza, according to Thailand’s Ministry of Foreign Affairs. There was no immediate information available about Nattapong Pingsa, who is the last Thai hostage left in Gaza, nor the two Thai workers whose bodies were taken into Gaza. Maris, the Thai foreign minister, traveled to Israel to visit the five freed men shortly after their release. Maris met with his Israeli counterparts seeking support to secure the release of the remaining Thai hostage and retrieve the bodies of the two deceased Thais. Thai workers remain the largest group of foreign agricultural laborers in Israel. The countries implemented a bilateral agreement a decade ago specifically easing the way for Thai agricultural workers. Many Palestinian workers had since returned, and before the Hamas attack about half of Israel’s workforce was made up of foreign and Palestinian laborers.
Tel Aviv, Israel. Associated Press writer Isabel Debre in Ramallah, West Bank, contributed to this report.
Isr AelI captives, from left to the right, Ohad Ben Ami, el sharabi and Or levy, who have been held hostage by Hamas in Gaza since October 7, 2023, are escorted by Hamas fighters before being handed over to the red Cross in Deir al-Balah, central Gaza strip on saturday, February 8, 2025. AP Photo/Abdel
A T H AI hostage who was freed from Hamas, Bannawat s aethao, second from left, hugs relatives upon arrival at su varnabhumi International Airport, in s amut Prakarn Province, Thailand, sunday, February 9, 2025. AP Photo/ sAKC h A lA lit
Trump says he wants to negotiate about Ukraine; it’s not clear if Putin really does
By Emma Burrows The Associated Press
Nearly three years after President Vladimir Putin invaded Ukraine, his troops are making steady progress on the battlefield. Kyiv is grappling with shortages of men and weapons. and the new US president could soon halt Ukraine’s massive supply of military aid.
Putin is closer than ever to achieving his objectives in the battle-weary country, with little incentive to come to the negotiating table, no matter how much US President Donald Trump might cajole or threaten him, according to Russian and Western experts interviewed by The Associated Press.
Both are signaling discussions on Ukraine—by phone or in person—using flattery and threats.
Putin said Trump was “clever and pragmatic,” and even parroted his false claims of having won the 2020 election. Trump’s opening gambit was to call Putin “smart” and to threaten Russia with tariffs and oil price cuts, which the Kremlin brushed off.
Trump boasted during the campaign he could end the war in 24 hours, which later became six months. He’s indicated the US is talking to Russia about Ukraine without Kyiv’s input, saying his administration already had “very serious” discussions.
He suggested he and Putin could soon take “significant” action toward ending the war, in which Russia is suffering heavy casualties daily while its economy endures stiff Western sanctions, inflation and a serious labor shortage.
But the economy has not collapsed, and because Putin has unleashed the harshest crackdown on dissent since Soviet times, he faces no domestic pressure to end the war.
“In the West, the idea came from somewhere that it’s important to Putin to reach an agreement and end things. This is not the case,” said Fyodor Lukyanov, who hosted a forum with Putin in November and heads Moscow’s Council for Foreign and Defense policies.
Talks on Ukraine without Ukraine
U K RAINIAN P resident Volodymyr Zelenskyy says Putin wants to deal directly with Trump, cutting out Kyiv. That runs counter to the Biden administration’s position that echoed Zelenskyy’s call of “Nothing about Ukraine without Ukraine.”
“We cannot let someone decide something for us,” Zelenskyy told AP, saying Russia wants the “destruction of Ukrainian freedom and independence.”
He suggested any such peace deal would send the dangerous signal that adventurism pays to authoritarian leaders in China, North Korea and Iran.
Putin appears to expect Trump to undermine European resolve on
P R E si DE n T D onald Trump and Russian President
Vladimir Putin walk together at the G20 summit in Osaka, Japan, on June 28, 2019.
AP Pho T o/S U SAN WAL S h
Ukraine. Likening Europe’s leaders to Trump’s lapdogs, he said Sunday they will soon be “sitting obediently at their master’s feet and sweetly wagging their tails” as the US president quickly brings order with his “character and persistence.”
Trump boasts of his deal-making prowess but Putin will not easily surrender what he considers Russia’s ancestral lands in Ukraine or squander a chance to punish the West and undermine its alliances and security by forcing Kyiv into a policy of neutrality.
Trump may want a legacy as a peacemaker, but “history won’t look kindly on him if he’s the man who gives this all away,” said Sir Kim Darroch, British ambassador to the US from 2016-2019. Former NATO spokesperson Oana Lungescu said a deal favoring Moscow would send a message of “American weakness.”
Echoes of Helsinki
T RU MP a nd Putin last met in Helsinki in 2018 when there was “mutual respect” between them, said former Finnish President Sauli Niinistö, the summit host. But they are “not very similar,” he added, with Putin a “systematic” thinker while Trump acts like a businessman making “prompt” decisions.
Leaders from eastern and southern Africa call for ceasefire and negotiations in Congo
By Rodney Muhumuza
KThe Associated Press
AMPALA, Uganda—Leaders from eastern and southern Africa on Saturday called for an immediate ceasefire in eastern Congo, where rebels are threatening to overthrow the Congolese government, but also urged Congo’s president to directly negotiate with them.
Congolese President Felix Tshisekedi, who attended the summit in the Tanzanian city of Dar es Salaam by videoconference, has previously said he would never talk to the Rwanda-backed M23 rebels he sees as driven to exploit his country’s vast mineral wealth.
A communique at the end of talks urged the resumption of “direct negotiations and dialogue with all state and nonstate parties,” including M23. The rebels seized Goma, the biggest city in eastern Congo, following fighting that left nearly 3,000 dead and hundreds of thousands of displaced, according to the U.N. The unprecedented joint summit included leaders from the East African Community bloc, of which both Rwanda and Congo are members, and those from the Southern African Development Community, or SADC, which includes countries ranging from Congo to South Africa.
Rwandan President Paul Kagame attended the summit along with his South African counterpart, Cyril Ramaphosa, who has angered the Rwandans by deploying South African troops in eastern Congo under the banner of SADC to fight M23. Rwanda has blamed the deployment of SADC peacekeepers for worsening the conflict in North Kivu, a mineral-rich province in eastern Congo that’s now controlled by M23. Kagame insists SADC
troops were not peacekeepers because they were fighting alongside Congolese forces to defeat the rebels. The rebels are backed by some 4,000 troops from neighboring Rwanda, according to U.N. experts, while Congolese government forces are backed by regional peacekeepers, U.N. forces, allied militias and troops from neighboring Burundi. They’re now focused on preventing the rebels from taking Bukavu, the capital of South Kivu province.
Dialogue ‘is not a sign of weakness’
Th E M 23 rebellion stems partly from Rwanda’s decades-long concern that rebels opposed to Kagame’s government have been allowed by Congo’s military to be active in largely lawless parts of eastern Congo. Kagame also charges that Tshisekedi has overlooked the legitimate concerns of Congolese Tutsis who face discrimination.
Kenyan President William Ruto told the summit that “the lives of millions depend on our ability to navigate this complex and challenging situation with wisdom, clarity of mind, empathy.”
Dialogue “is not a sign of weakness,” said Ruto, the current chair of the East African Community. “It is in this spirit that we must encourage all parties to put aside their differences and mobilize for engagements in constructive dialogue.”
The M23 advance echoed the rebels’ previous capture of Goma over a decade ago and shattered a 2024 ceasefire, brokered by Angola, between Rwanda and Congo.
Some regional analysts fear that the rebels’ latest offensive is more potent because they are linking their fight to
wider agitation for better governance and have vowed to go all the way to the capital, Kinshasa, 1,600 kilometers (1,000 miles) west of Goma.
Rebels face pressure to pull out of Goma
Th E C ongo River Alliance, a coalition of rebel groups including M23, said in an open letter to the summit that they are fighting a Congolese regime that “flouted republican norms” and is “becoming an appalling danger for the Congolese people.”
“Those who are fighting against Mr. Tshisekedi are indeed sons of the country, nationals of all the provinces,” it said. “Since our revolution is national, it encompasses people of all ethnic and community backgrounds, including Congolese citizens who speak the Kinyarwanda language.”
The letter, signed by Corneille Nangaa, a leader of the rebel alliance, said the group was “open for a direct dialogue” with the Congolese government. But the rebels and their allies also face pressure to pull out of Goma.
In addition to calling for the immediate reopening of the airport in Goma, the summit in Dar es Salaam also called for the drawing of “modalities for withdrawal of uninvited foreign armed groups” from Congolese territory.
A meeting in Equatorial Guinea Friday of another regional bloc, the Economic Community of Central African States, also called for the immediate withdrawal of Rwandan troops from Congo as well as the airport’s reopening to facilitate access to humanitarian aid. Associated Press writer Wilson McMakin in Dakar, Senegal, contributed to this report.
That could cause a clash because Trump wants a quick resolution to the war while Putin seeks a slower one that strengthens his military position and weakens both Kyiv and the West’s political will.
Zelenskyy told AP that Putin “does not want to negotiate. He will sabotage it.” Indeed, Putin has already raised obstacles, including legal hurdles and claimed Zelenskyy has lost his legitimacy as president.
Putin hopes Trump will “get bored” or distracted with another issue, said Boris Bondarev, a former Russian diplomat in Geneva who quit his post after the invasion.
Russian experts point to Trump’s first term when they said Putin realized such meetings achieved little.
One was a public relations victory for Moscow in Helsinki where Trump sided with Putin instead of his own intelligence agencies on whether Russia meddled in the 2016 election. Another was in Singapore in 2019 with North Korean leader Kim Jong Un when he failed to reach a deal to halt Pyongyang’s nuclear program.
Previous peace talks
T H E Kremlin last year said a draft peace agreement that Russia and Ukraine negotiated in Istanbul early in the conflict—but which Kyiv rejected—could be the basis for talks.
It demanded Ukraine’s neutrality, stipulated NATO deny it membership, put limits on Kyiv’s armed forces and delayed talks on the status of four Russian-occupied regions that Moscow later annexed illegally. Moscow also dismissed demands to withdraw its troops, pay compensation to Ukraine and face an international tribunal for its action.
Putin hasn’t indicated he will budge but said “if there is a desire to negotiate and find a compromise solution, let anyone conduct these negotiations.”
“Engagement is not the same as negotiation,” said Sir Laurie Bristow, British ambassador to Russia from 2016-20, describing Russia’s strategy as “what’s mine is mine. And what’s yours is up for negotiation.”
Bondarev also said Putin sees negotiations only as a vehicle “to deliver him whatever he wants,” adding it’s “astonishing” that Western leaders still don’t understand Kremlin tactics.
That means Putin is likely to welcome any meeting with Trump, since it promotes Russia as a global force and plays well domestically, but he will offer little in return.
What Trump can and can’t do T RU MP said Zelenskyy should have made a deal with Putin to avoid war, adding he wouldn’t have allowed the conflict to start if he had been in office.
Trump has threatened Russia with more tariffs, sanctions and oil price cuts, but there is no economic “wonder weapon” that can end the war, said
Richard Connolly, a Russian military and economic expert at London’s Royal United Services Institute. And the Kremlin is brushing off the threats, likely because the West already has heavily sanctioned Russia.
Trump also can’t guarantee Ukraine would never join NATO, nor can he lift all Western sanctions, easily force Europe to resume importing Russian energy or get the International Criminal Court to rescind its war crimes arrest warrant for Putin.
Speaking to the Davos World Economic Forum, Trump said he wants the Opec+ alliance and Saudi Arabia to cut oil prices to push Putin to end the war. The Kremlin said that won’t work because the war is about Russian security, not the price of oil. It also would harm US oil producers.
“In the tradeoff between Putin and domestic oil producers, I’m pretty sure which choice Trump will make,” said Alexandra Prokopenko, a fellow at the Carnegie Russia Eurasia Center in Berlin.
Trump could pressure Russia by propping up the US oil industry with subsidies and lift the 10% trade tariffs imposed on China in exchange for Beijing limiting economic ties with Moscow, which could leave it “truly isolated,” Connolly said.
Europe also could underscore its commitment to Kyiv—and curry favor with Trump—by buying US military equipment to give to Ukraine, said Lord Peter Ricketts, a former UK national security adviser. Lukyanov suggested that Trump’s allies often seem afraid of him and crumble under his threats.
The “big question,” he said, is what will happen when Putin won’t.
From ‘special’ to functional: UK downgrades expectations for US relations under Trump
By Jill Lawless The Associated Press
LONDON—Ever since Winston Churchill coined the phrase in the wake of World War II, politicians have extolled the “special relationship” between the United States and Britain.
u n der p r esident Donald Trump’s second administration, Britain will settle for a merely functional relationship with its former colony turned most important ally. a s Trump threatens to slap tariffs on a m erica’s neighbors, mulls buying Greenland and suggests the us could “take over” and reconstruct Gaza, p r ime m i nister Keir s t armer’s government is racing to bolster its diplomatic and economic defenses for a turbulent new transatlantic era.
“We’re in such uncharted waters that anyone who claims to know what in the hell is going on is just lying,” said Kathleen Burk, emeritus professor at u n iversity College l o ndon and an expert on us - u K. relations. High stakes for Britain’s Washington envoy Br I TI s H o fficials say s t armer hopes to visit Washington in the coming weeks, but he has yet to receive an invitation from Trump.
In the meantime, a heavy burden rests on Britain’s new ambassador to Washington, pe ter m a ndelson. a towering figure in s t armer’s l a bour p a rty who served in the governments of former p r ime m i nisters Tony Blair and Gordon Brown, m a ndelson replaces veteran diplomat Karen p i erce, who was widely respected by both Democrats and r e publicans in Washington.
It’s rare for a politician, rather than a career civil servant, to be given a key u K ambassadorial post. The center-left former lawmaker is not an obvious emissary to the Trump administration. m a ndelson once called Trump a “danger to the world”— words he now says were “ill-judged and wrong.”
But some analysts see m a ndelson as a canny choice. a controversial figure who twice resigned from government over allegations of financial or ethical impropriety, he has—like Trump—repeatedly bounced back. His mastery of political in -
trigue brought him the nickname “ p r ince of Darkness.”
Jill r u tter, a senior fellow at the Institute for Government, said m a ndelson is “a considerable political talent” with economic expertise from his time as the eu ’s trade commissioner between 2004 and 2008.
“He’s also very comfortable with very rich people,” r u tter said. “He’s very well connected. He will give very classy parties.”
In addition to diplomatic clout, Britain plans to deploy another key asset: the royal family. Trump, whose mother was born on s c otland’s remote Isle of l e wis, owns two s c ottish golf courses and is a fan of the royals. He praised the late Queen e l izabeth II, who hosted him at Buckingham p a lace during a 2019 state visit, and said he had a “great talk” with p r ince William when the two men met in December.
a return visit to the u K f or Trump, replete with pomp and pageantry, seems likely.
Stuck in the middle with EU
s om e politicians on the right of u K p olitics see Trump’s return as an opportunity for deeper u K.- u s trade ties, maybe even a long-elusive free trade agreement.
Talks on a trade deal started after Britain left the e u ropean u n ion in 2020 but foundered on issues including agriculture, with strong opposition in Britain to importing chlorine-rinsed chicken or hormonetreated beef.
a further complication is s t armer’s desire for closer trade with the eu as part of a “reset” with the bloc after years of acrimony over Brexit. s a ndwiched between the u s and the eu, B ritain could face pressure to pick a side.
s u rely the choice is obvious,” Conservative p a rty lawmaker John Cooper said during a recent debate in p a rliament. “ u nd er p r esident Trump, the a m erican eagle is starting to spread its wings. … e u rope
is fading, with sclerotic growth amid political turmoil.”
But l e slie Vinjamuri, director of the us a nd the a m ericas program at the international affairs think-tank Chatham House, s aid choosing between e u rope and a m erica was a “ridiculous proposition.” While the u s is Britain’s biggest individual trading partner, half of Britain’s trade is with the 27 eu members.
“They can’t choose,” Vinjamuri said. “a t the end of the day, e u rope, the us and the u K. are in this together, and so they have to find different ways of working” together.
Pressure over trade and defense
Trump has already ratcheted up pressure on longstanding allies, announcing he would impose tariffs on all goods from Canada and m e xico, then postponing them after getting pledges from the two counties to beef up border security.
Trump has suggested Britain could escape similar tariffs. “I think that one can be worked out,” he said.
Britain is helped by the fact that, according to official us statistics, the us sells more goods to the u K. than it imports.
Britain is also facing pressure from Trump to increase defense spending. Trump has long questioned the value of naT o a nd threatened not to defend members of the alliance that fail to meet defensespending goals.
The president has said naT o countries should spend at least 5 percent of their
income on defense, up from the current 2 percent target. Britain spends 2.3 percent of GDp on defense and says it will increase that figure to 2.5 percent.
“The one thing that the a m ericans will pay attention to is the defense budget, because Britain started losing leverage with the us when its army and its navy started going down in the 1970s,” Burk said.
Britain is one of the biggest supporters of u k raine in its war against r u ssia’s invasion—a war Trump wants to end, on terms that remain unclear. s t armer and his officials hope to press the us government not to abandon u k raine or back a deal favorable to r u ssian p r esident Vladimir p u tin.
British diplomats and spies are also trying to assess what the new us government means for vital intelligence-sharing. Britain and the us share top-secret intelligence as members of the “Five e y es” group with Canada, a u stralia and n ew Zealand.
u K officials were somewhat relieved by the appointment of s e cretary of s t ate m a rco r u bio, an experienced politician and a known quantity. They have little acquaintance with, and some concerns about, Trump’s nominee for FBI director, Kash p a tel, and his pick to oversee national intelligence, Tulsi Gabbard. Gabbard has repeatedly echoed r u ssian propaganda used to justify the Kremlin’s invasion of u k raine and in the past opposed a key us s urveillance program.
Expect the unexpected I T ’s i mpossible to prepare for everything the next four years could bring.
r u tter said ministers and civil servants need to think about the unthinkable. For instance, what happens if deep cuts to regulation and the machinery of government mean parts of the us start failing?
“When do you start having to give people warnings not to fly to the us because we don’t trust your aviation regulation anymore?” she said.
Vinjamuri said the coming years will test to the limit Britain’s historic strength of quiet diplomacy, “working very pragmatically below the headline to try and get things done.”
“The challenge is, we have some known unknowns, (like) what will happen when it comes to a m erica’s support for u k raine and for e u rope’s security,” she said. “But we have a lot of unknown unknowns, too. a n d that, I think, is going to be the much trickier part.”
Musk says he doesn’t want to buy TikTok’s US business
By Shelly Banjo
elon m u s K said he isn’t interested in buying TikTok, the popular social video app the us has tried to ban over national security concerns with its Chinese owner Bytedance l t d. He made the comments—his first on the topic of him buying TikTok—at a conference in Germany hosted by m a thias Doepfner, the billionaire chief executive of German media conglomerate a x el s p ringer, last month.
“I have not put in a bid for TikTok,” mu sk said, joining the conference remotely via video, which was made public by the Die Welt newspaper on s a turday. “I don’t have any plans for what would I do if I had TikTok.” mu sk said that he doesn’t use TikTok personally.
“I’m not champing at the bit to acquire TikTok,” said mu sk, who bought Twitter in 2022 before renaming the social media service X.
Buying Twitter was an exception, he said, which he said he bought to “preserve freedom of speech.” He said “I usually build companies from scratch.” Bloomberg n ews in January reported that Chinese officials were evaluating the possibility that would allow the world’s richest person and close ally of p r esident Donald Trump to acquire the u s operations of TikTok if the company fails to fend off a ban. u n der one scenario, m u sk’s X would take control of TikTok us and run the business together, people familiar with the
matter told Bloomberg. o n Trump’s first day in office, he signed an executive order that temporarily halted a forced sale or shutdown of TikTok, giving the company and its Chinese parent more time to reach a deal. The order came hours after Trump’s inauguration, which was attended by Bytedance C e o s h ou Chew.
The order marked the latest turn in a years-long effort in Washington to ban the app over security concerns. Trump— who advocated in favor of a ban during his first term—changed his mind after the app helped him win over younger voters.
“We won the young vote. I think I won it through TikTok, so I have a warm spot in my heart for TikTok,” he said. mu sk, like Trump, could always change
his mind. Trump has said he would be open to mu sk, who donated more than $250 million to his presidential campaign, or o r acle Corp. Chairman l a rry e l lison purchasing the app as a part of a joint venture with the us government. This week, Trump also signed a separate executive order he said would direct officials to create a us s overeign wealth fund that could be used to facilitate the sale of TikTok.
ByteDance has publicly refused to sell TikTok, though prospective buyers have said they hope the s u preme Court’s ruling in support of a national security law forcing the company to either sell or shutter the service in the us could push it to reconsider. It also might not be entirely up to the company — the Chinese government would also need to sign off on any transaction.
Taking on DeepSeek
m u s K in the a x el s p ringer interview, also said he was aiming to compete with Deeps e ek, the artificial intelligence chatbot released in January by Chinese software company Deep s eek.
Deep s e ek, whose a I m odels offer comparable performance to other chatbots at a fraction of the cost, sent waves through the tech industry, roiling global tech stocks and prompting investors to question spending by m e ta, m i crosoft and others on a I infrastructure.
“Is it some a I r evolution? n o, it is not.
x a I a nd others will soon be releasing models that are better than Deep s e ek,” mu sk said, referencing his own a I c ompany.
DOGE for Germany
m u s K s aid that Germany should emulate the process he has started with
D o G e “The cleansing process for getting rid of nonsensical regulations is war,” he said. “We prefer not to have war. In the absence of war you have to have something like what we’ve formed in the us , t he Department of Government e f ficiency.”
He also said Trump was using tariffs as a “means to getting cooperation from countries on important matters.”
mu sk also reiterated his support of the far-right a l ternative for Germany party, which he said aligns with issues such as “sensible” controls on immigration and freedom of speech.
He also addressed the backlash to comments he made at an a f D rally, urging Germans to put “past guilt” behind them and look ahead with pride in Germanic culture and values.
“What I’m not saying is that n a zism should be ignored. I never said that. But I am saying the tremendous cultural history of Germany is incredible,” he said. “ o n e has to understand the full context of German history. The great things and the terrible things.”
s e parately, he said he was worried about declining birth rates because with “multiculturalism and globalism, we’re seeing the dilution of individual cultures.” He cautioned “a global mixing pot. Because every place will be the same and there won’t be any unique cultures in the world.”
With assistance from Dana Hull / Bloomberg
By John Cheng
will create a lot of noise and volatility, he said. Here are some of the investments currently favored by a s ian money managers and analysts:
DeepSeek theme o ne place to reduce exposure to Trump tariff headlines is s een in Chinese technology firms related to Deep s e ek’s new artificial intelligence app. The nation’s internet giants, such as a l ibaba Group Holding l t d., have touted their ability to build a I m odels of comparable capacity to their Western rivals, adding to their allure. The expected wider adoption of a I i n China has helped software companies such as Beijing Kingsoft o f fice s o ftware Inc. and 360 s e curity Technology Inc. jump almost 30 percent this year, putting them among the top 10 performers in the C s I 3 00 Index. a gauge of Chinese tech shares trading in Hong Kong entered a technical bull market Friday on the back of Deep s e ek’s a I m odel, which had drawn bullish comments from analysts at firms such as Deutsche Bank aG a nd H s B C Holdings p l c. Chinese stocks have proven to be a difficult trade in recent years but there are “a lot of hidden gems,” said Joanne Goh, senior investment strategist at DB s Bank l t d. in s i ngapore “Because of Deep s e ek, we see a lot more attention coming back to China’s technological prowess.”
Dividend shares a no T H e r area that’s tipped to provide a shelter from the current high volatility is in companies with a track record of high dividend payments. a gauge of such firms has returned 15 percent over the past year, beating the 12 percent gain from a broad basket of regional stocks.
“We like the following areas in the current volatility— s i ngapore and a u stralia as high yield, higher quality markets with more diversified trade,” said s a t Duhra, a portfolio manager at Janus Henderson Investors in s i ngapore. s i ngapore’s benchmark stock index yields 4.9 percent based on estimated dividends for the next 12 months, while a u stralia’s yields 3.4 percent. Those compare with 2.5 percent for the broad ms C I a s ia p a cific gauge.
Duhra said he also favors higher-yielding Chinese stateowned enterprises as they are likely to be supported by Beijing’s directive to guide companies to increase shareholder returns.
Domestic giants
m oney managers say another strategy to reduce the tariff r isk is to put funds into countries with relatively large domestic markets and a correspondingly small reliance on exports. India and Indonesia both have large internal markets and their “growth trajectories are less tied to the ebbs and flows of international trade, making them potentially more resilient,” said m a nish Bhargava, chief executive officer at s t raits Investment m a nagement in s i ngapore.
India’s exports represented about 21.9 percent of gross domestic product in 2023, while Indonesia’s was 21.8 percent, according to data published by the World Bank. Those figures compare with about 29.3 percent for the world as a whole, and more than 170 percent for a trading hub such as s ingapore.
India also offers “compelling opportunities” as the government is prioritizing infrastructure development, which presents a buffer against external trade dynamics, s t raits Investment’s Bhargava said.
Indian bonds
In D I a a lso provides another asset class that promises protection from the growing global trade disputes: government bonds.
The nation’s debt appears attractive over the medium term due the country’s strong economic fundamentals and alluring real yields, said mu rray Collis, chief investment officer for fixed income, a s ia ex-Japan, at m a nulife Investment m a nagement in s i ngapore. a t t he same time, the us is “less likely to implement tariffs on India given the smaller trade deficit of India compared with countries in the region,” he said. India’s government bonds accessible to foreigners returned 6.8 percent last year, compared with
Thousands adrift at the border lose their US financial lifeline
By Maya Averbuch
The kindergarten teachers never came back to the playroom. The doctor stopped showing up at the medical center. Overnight, the resources Pastor Francisco González Palacios had once offered at his migrant shelter disappeared.
US President Donald Trump’s 90-day aid freeze—the same one that shuttered international vaccine efforts and malaria prevention programs—had made its way across the border with Mexico.
As Trump’s migration policies and foreign retrenchment ripple throughout the world, cities like Ciudad Juárez—across from the border from El Paso, Texas—are getting hit by all of it. Trump last month suspended an asylum program and stranded thousands of migrants who had been waiting to hand themselves in to US officials.
That’s transformed border towns from pass-throughs—where job opportunities are scant for the undocumented and services are only meant to be temporary—to migrants’ final stops. The shelters don’t have a fallback beyond the local community.
Mexico President Claudia Sheinbaum’s priority is to stave off recession-inducing tariffs by proving to Trump that the country can stop people and drugs at the border. The administration is directing federal resources toward developing giant tarp-covered facilities for deportees and has begun to deploy the National Guard to border states.
For González, the problems are acute: The UN helped pay for the dorms and bathrooms. Its children’s fund provided the basic medical checks for kids and teenagers. Even the toothpaste, deodorant and a stash of OFF! bug spray came from the UN.
These agencies receive much of their funding from the US, which under Trump’s direction has moved to strip the United States Agency for International Development—the world’s largest provider of foreign assistance—of most of its projects and put the majority of its employees on leave. The American Foreign Service Association and American Federation of Government Employees filed suit in federal court challenging the decisions.
Other organizations with funds from the US government are being affected, too. Kids in Need of Defense closed up its northern Mexico border programs in January. Asylum Access posted an advisory that its funds had been affected, limiting its ability to hire in Mexico. In response to a request from Bloomberg News, a spokesperson for the United Nations’ refugee agency known as UNHCR said that it works
with 140 shelters in the country that help people get access to humanitarian protection options within Mexico, and that it was “continuing to evaluate the impact in the pause in financing.” A spokesperson for UNICEF in Mexico said that the US “has over the course of our history been an important donor” and that the organization hoped the funding would resume as soon as possible.
The UN’s International Organization for Migration, known as IOM, declined to comment.
Most activists are not optimistic, since people close to the Trump administration—including billionaire Elon Musk—have derided the aid programs. And the Mexican government’s priorities are focused elsewhere.
“We’re people of faith, and so we’ll continue doing this work whether or not they help us,” said González, who converted his own bedroom into a larger kitchen for shelter residents. “It’s something we do from the heart. But if we pay for all of this, and on top of that pay for food, we won’t manage.”
For now, officials in Chihuahua State—which includes Ciudad Juárez—say deportation numbers have dropped slightly instead of having the kind of explosive increase Trump’s rhetoric had led them to expect. Some 2,200 Mexicans were deported to the state in January. The government has said it would provide each Mexican deportee with 2,000 pesos, or just under $100, help with their paperwork and transportation back home.
Sheinbaum’s government has also been readying a new facility for them in Ciudad Juárez, one of ten it’s planning to operate along the US-Mexico border that seeks to dignify the arrival of Mexicans. The shelter, which is not yet in operation, stands between a sports stadium, a fire station and a statue of Pope Francis.
“Mexico is trying to work with the United States to improve the conditions for Mexicans, in anticipation of the mass deportations that they are doing,” said Emilio López Reyes, a researcher associated with the Autonomous University of Chihuahua.
Sheinbaum’s plan has made clear the future of the Mexican population that
trump freezes all South African assistance as standoff escalates
By Stephanie Lai & S’thembile Cele
RESIDENT D onald Trump
Pfroze all US aid to South Africa over what he falsely claimed were rights violations stemming from a new land-expropriation law, as well as its allegations of genocide against Israel.
South Africa’s foreign ministry expressed “great concern that the foundational premise of this order lacks factual accuracy,” in a statement Saturday. It reiterated the government’s commitment to finding “diplomatic solutions to any misunderstandings.”
Trump’s executive order on Friday evening halting assistance escalates a standoff in which South Africa has sought to respond with diplomacy, while maintaining the moral high ground in a nation still scarred by the racist legacy of White-minority rule. The US has given South Africa more than $8 billion in bilateral aid over the past two decades.
Relations with Washington were already strained by South Africa’s refusal to condemn Russia’s invasion of Ukraine, and for its case in the International Court of Justice alleging Israel’s assault in the Gaza Strip was an act of genocide. They worsened this week after Trump and US Secretary of State Marco Rubio falsely claimed South Africa authorities are seizing property under the expropriation law. Neither provided any evidence and both ignored President Cyril Ramaphosa’s statement that the assertion is untrue. Trump’s attack saw the rand weaken sharply, though it re -
gained lost ground by Friday. South Africa has always had expropriation laws—as does the US and other countries—that balance the need for public usage of land and the protection of rights of property owners, according to the government.
The executive order, detailed in a White House statement, claims “the government of South Africa blatantly discriminates against ethnic minority Afrikaners” and says the US will stop providing aid and assistance to the country as long as it “continues to support bad actors on the world stage and allows violent attacks” against minority White farmers.
It also said Pretoria had taken “aggressive positions” against the US by pursuing Israel in the ICJ, and for “reinvigorating its relations with Iran.” Iran was among five countries invited to join the BRICS bloc of emerging-market powers during a summit Ramaphosa hosted in Johannesburg.
In addition, the executive order said it would promote the resettlement of White Afrikaans South African farmers and their families in the US as refugees—an offer Pretoria quickly contrasted with Trump’s immigration crackdown at home.
“It is ironic that the executive order makes provision for refugee status in the US for a group in South Africa that remains amongst the most economically privileged, while vulnerable people in the US from other parts of the world are being deported and denied asylum despite real hardship,” South Africa’s foreign ministry said.
The Solidarity Movement, which
says it represents about 2 million Afrikaans speakers, separately voiced its opposition to Trump’s decision and rejected his offer for farmers to settle in America.
“We did not and will not ask for sanctions against South Africa, or that funds for vulnerable people be cut off by the US government,” the group said in a statement.
The group—which said the order has nothing to do with Solidarity or its affiliate AfriForum—also rejected an offer by Trump to offer White Afrikaans people refugee status in the US, while lamenting the actions of Ramaphosa’s African National Congress party that got his attention in the first place.
“I guess you don’t want to be on Trump’s radar. But then you shouldn’t do stupid things,” Kallie Kriel, Afriforum’s chief executive officer, said in an interview. “You should not go to court and bring lawsuits against one of America’s most important allies. You don’t have to support them, stay neutral.”
Trump weighed in on the land issue during his first term in the White House, asking his then-secretary of state to investigate land seizures in South Africa. And Elon Musk, his South African-born billionaire backer, has spread a conspiracy theory that there is a “genocide” of White people in the country.
Land ownership remains a highly contentious issue in South Africa more than three decades after White-minority rule ended.
Under apartheid, most Black South Africans were forbidden from owning property. White people continue to control the vast majority of
farmland, despite accounting for just 7 percent of the population.
The expropriation law gives the government authority to take property in the public interest on condition that the owner receives “just and equitable” compensation. It also contains a provision for nothing to be paid in some instances, such as when land isn’t being used or has been acquired for speculative purposes with no concrete intention to develop it. With assistance from Meghashyam Mali, Laura Davison, Rene Vollgraaff, Paul Richardson and Bella Genga / Bloomberg
is returning to the country, but she has said people of other nationalities will have to apply for protection in Mexico in order to stay here. In northern cities, staffing is limited at refugee offices. Refugees International estimated that 270,000 people had been waiting in Mexico for appointments on the CBP One app, while the Mexican government has insisted that the population is a fraction of that.
“The majority of them want to be repatriated to the countries, in which case we facilitate transport so they can arrive, primarily to Central America,” Sheinbaum said in January.
While Mexico agreed to establish working groups with the US on issues including trade, migration and security, its more immediate move has been the deployment of 10,000 National Guard members to supplement those already on the border. Sheinbaum and Trump agreed on a call at the start of February to reconsider after a month whether the measures had been sufficient to maintain the suspension of 25 percent tariffs on goods that Trump said he’d impose on Mexico and Canada.
In Chihuahua, the guard more than doubled the forces that were already positioned in the northern part of the state, said Col. José Luis Santos Iza. Dressed in military-style fatigues, the guardsmen peer into suspicious vehicles at checkpoints, patrol in remote stretches and station themselves along the wall. The facilities set up by the Mexican government are meant to tend to deportees—not the other migrants still hoping for a chance to cross over into the US. The National Guard and US border patrol have scared off some of them from crossing. So has the fear that the US may now choose to deport them back to their countries of origin. Many say they have their fingers crossed that the situation could change, though it’s not promising.
So, many migrants are biding their time. Some have sought other kinds of lodging in the city that allow them to settle in. They line up for food handouts at the foot of the city’s cathedral, where the Missionary Society of St. Columban disperses eggs and rice. Others have found day jobs paving roads or remodeling rooms.
Lesdy Marín took her 2-year-old to Hotel Ursula, which has newspapers plastered onto the windows of its ground floor and advertises a bed for 180 pesos a night. She joked with her mother—who is fronting the room’s cost—that it was only thanks to Mexican officials that she had ever been on a plane: They had forcibly sent her back to the country’s south twice, as she tried to reach Ciudad Juárez.
On Trump’s first day in office, Marín said she had a dream that she had finally gotten an appointment to hand herself in at the US border to claim asylum. When she woke up, she found out that the US president had revoked that option. Bloomberg News
Unemployment rate masks the challenges in PHL job market
THE recent report from the Philippine Statistics Authority (PSA) indicates that the job market has seen improvements, with unemployment and underemployment rates at their lowest since 2005. However, beneath this seemingly positive facade lies a complex web of challenges that could threaten the stability of this progress. Economists warn that the interplay of domestic political turbulence and international uncertainties may lead to an increase in the number of Filipinos seeking better employment opportunities this year. (Read the BusinessMirror story: More Pinoys looking for better jobs seen, February 7, 2025).
While a 3.8 percent unemployment rate is commendable, the reality for many remains stark. The rise in “invisible underemployment”—now at 2.5 million—underscores a significant concern: countless Filipinos are struggling to secure enough work hours to make ends meet. This situation is exacerbated by persistent inflation that erodes purchasing power, compelling households to seek additional sources of income. As De La Salle University economist Maria Ella Oplas aptly notes, high underemployment often reflects a desperate need among workers to take on any available job, regardless of its quality or alignment with their skills.
The political landscape adds another layer of complexity. The impeachment trial of Vice President Sara Duterte and the uncertain policies of the Trump administration in the US could deter foreign investment, potentially leading to job losses. Such political instability breeds insecurity, impacting both consumer confidence and economic growth. The specter of rising unemployment looms large, particularly if the government fails to navigate these challenges effectively.
Moreover, the structural issues contributing to underemployment cannot be overlooked. Economists like Leonardo Lanzona stress that the government’s inability to address climate change and leverage digital transformation hampers job creation in emerging sectors. Without a thorough strategy to incorporate these vital issues into labor market planning, the risk of underemployment is likely to increase.
The implications of this economic environment are profound. High levels of underemployment signal not just a mismatch between skills and jobs but also a deeper societal issue where families are forced to rely on every available member, including children and retirees, to contribute to household income. This reliance on informal and precarious work arrangements is not sustainable and raises questions about the long-term economic wellbeing of the Filipino people.
The upcoming elections may present a glimmer of hope for many Filipinos. However, the expectation for political change must be tempered with a realistic understanding of the underlying economic challenges. The focus should shift from seeking quick fixes to addressing the systemic issues that perpetuate underemployment and job insecurity.
While the decline in unemployment rates is a positive development, it is crucial to recognize the broader context. Policymakers must prioritize sustainable economic strategies that not only create jobs but also ensure they are of decent quality. Addressing the root causes of underemployment, enhancing support for small and medium enterprises, and investing in skills development are essential steps toward a more resilient labor market. Our people deserve not just jobs, but meaningful employment that enhances their quality of life and contributes to the nation’s economic prosperity.
lessons for today’s Philippines
BAmbassador Antonio L. Cabangon Chua
T. Anthony C. Cabangon
Lourdes M. Fernandez
A. Ng
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 floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines. Tel. Nos. (Editorial) 817-9467; 813-0725. Fax line: 813-7025. (Advertising Sales) 893-2019; 817-1351, 817-2807. (Circulation) 893-1662; 814-0134 to 36. E-mail: news.businessmirror@gmail.com www.businessmirror.com.ph
Atty. Jose Ferdinand M. Rojas II
RISING SUN
ENIGNO SIMEON AQUINO III, the former president of the Philippines, was born in Manila on February 8, 1960. Today, almost four years after his death, we try to reflect on his presidency and its relevance to our country’s current political and economic environment.
PNoy’s focus on fiscal responsibility and good governance remains particularly relevant. As we continue to grapple with the economic fallout from the pandemic, instability, and increasing debt, the former president’s emphasis on transparency and accountability is a true reminder of the importance of prudent financial management.
The administration of President Aquino left a substantial amount in the National Treasury, which enabled the following government to access multilateral bank loans for Covid-19 relief efforts. Prudent fiscal management would suggest that the current administration likewise consider the financial legacy it will leave for its successor.
The expansion of the Conditional Cash Transfer (CCT) program under
PNoy also holds lessons for today. As we continue to face poverty and inequality, the CCT program’s focus on providing financial assistance to the poorest households tied to education and healthcare offers a model for breaking the cycle of intergenerational poverty. The Aquino administration expanded the program to provide universal health insurance coverage, doubled the number of families covered under the CCT Program, and nearly tripled the budget for social services.
PNoy’s approach to infrastructure development, with its emphasis on Public-Private Partnerships (PPP) and transparency, also provides a valuable framework. With the current administration pushing for ambitious infrastructure projects, ensuring transparency and account-
ability in these deals is crucial for maximizing their benefits and minimizing corruption.
In foreign policy, PNoy’s handling of the South China Sea dispute offers lessons in safeguarding national sovereignty and promoting international cooperation. As tensions in the region persist, the Philippines can draw inspiration from PNoy’s efforts to rally international support for its claims and seek peaceful resolutions. His administration also passed sin taxes to increase funding for health, education, and social welfare. Through PhilHealth, it pushed universal health care coverage. He signed a bill providing for responsible parenthood, despite objections from institutional Catholic Church officials.
PNoy’s emphasis on fiscal responsibility, social welfare, and good governance, while not without imperfections, laid a foundation for sustainable and inclusive growth. By remembering these less-discussed aspects, we can draw valuable lessons for our current leaders as they navigate the complexities of Philippine politics and economics.
Ultimately, PNoy’s legacy should be viewed as a work in progress. While his administration made significant strides in various areas, there is still much work to be done to address the challenges facing the
A trail of deception: The financial debacles of CAP and CJHDevCo
IN the Philippine corporate scene, few names evoke as much controversy as Robert John Sobrepeña, whose leadership in both the College Assurance Plan (CAP) and the Camp John Hay Development Corporation (CJHDevCo) offers a stark illustration of unchecked ambition, financial mismanagement, and corporate deception.
The financial debacle of these two entities serves as a cautionary tale for investors, consumers, and regulators alike. Sobrepeña’s involvement in both the pre-need tuition plan and the development of Camp John Hay reveals a pattern of profitdriven practices that disregarded legal boundaries, that led to a trail of broken promises, lost investments, and disillusioned stakeholders.
CAP was a pre-need tuition program that promised families the opportunity to prepay for their children’s college education, a plan that many parents embraced for their children. However, it wasn’t long before cus-
tomers began to realize the cruel truth: the company had failed to manage the funds entrusted to them. CAP’s financial troubles were rooted in a combination of poor investment decisions and potentially deceptive practices, leaving thousands of families without the promised tuition coverage.
The collapse of CAP mirrored the subsequent issues that arose with CJHDevCo, the company spearheading the development of Camp John Hay, a prime property located in Baguio City. Like CAP, CJHDevCo initially attracted investors with promises of lucrative returns and long-term leases.
However, as the Supreme Court ruled, CJHDevCo did not have the legal right to offer the leases, significantly harming the investors who had purchased into the development.
This financial fiasco was apparently not born out of incompetence, but a disregard for legal and ethical boundaries, showcasing the reckless ambition that had defined Sobrepeña’s tenure at the helm of both companies. The downfall of CJHDevCo seemed rooted in a similar deceptive strategy as that which marked CAP’s failure: Sobrepeña’s company misled lessees by granting long-term leases it had no right to offer.
Investors, believing they were securing a future in an expanding development project, were left scrambling when the truth emerged: their investments were legally unsound.
Much like the families who had prepaid for education under CAP, the investors at Camp John Hay were left without the returns they had been promised, victims of a system that had been manipulated for the benefit of those in charge.
Both CAP and CJHDevCo had sold dreams of financial security and growth, only to leave their clients high and dry.
Philippines. By learning from his successes and failures, current and future leaders can build a more prosperous and equitable nation.
n n n A SPECIAL invitation. Kalooban Arts Initiative is proud to present “Paghahabi ng Istorya: A Celebration of Agriculture, Creativity, and Community,” an exhibit showcasing poetry and photography that celebrates agriculture and community. Organized with Nectar and Frosting Bakery & Tea Room and Likhaya Food Products, the exhibit highlights the cultural importance of soy processing in the Philippines and the creative voices behind these stories. The exhibit will feature photographs of LIKHAYA and the story of its co-owner, Ome Bailey, a cultural entrepreneur promoting local agriculture. It will also display photos and poetry by artists mostly from Tungkuan ng Tula, a poetry collective founded by Rem Tanauan, including Ome Bailey, Precious Angela, Joshua Bienvenida, Patrick Briones, Mischa Elman, Cris Garcimo, Vince Imbat, Mamyaw, Antonio Victor Reyes, and Rem Tanauan. The exhibit runs until February 28, 2025, at Nectar and Frosting Bakery & Tea Room, 250, 54 Gen. Yengco St., Bayan Luma 1, Imus City. For more information, please contact Kalooban Arts Initiative at 0932.847.0785 or kalooban.arts.initiative@gmail.com
Sobrepeña’s companies misled stakeholders, creating a false sense of security and stability. In the case of CAP, families trusted the company to manage their tuition payments, believing their children’s futures were secure. Similarly, investors in Camp John Hay were lured into a deal that promised years of profitable leases. But when the legalities were challenged, it became clear that both CAP and CJHDevCo were built on shaky ground. The collapse of these ventures was inevitable, a house of cards that was only waiting for a gust of legal scrutiny to bring it all down. Despite the clear breaches of contract and misrepresentation, there has been a misdirected attempt to make the Bases Conversion and Development Authority (BCDA) a convenient scapegoat for the uncertainty surrounding the future of Camp John Hay.
However, the blame for the mess caused by CJHDevCo and the financial fallout from CAP lies squarely on Sobrepeña. It was he and his companies who acted outside their contractual authority, offering promises they had no legal right to keep. Both entities, under his direction, misused
Trust first; wisdom follows Diplomacy of Victory*
ON February 10, Russia celebrates the Diplomat’s Day to pay tribute once again to the previous generations of foreign service professionals. It seems that today, in the year of celebration of the 80thAnniversary of the Victory in the Second World War and the 80th Anniversary of the United Nations, it will be particularly relevant to share with our readers a few thoughts on the role of Russia’s diplomacy in the Victory and the formation of a universal international organization.
JOSEPH STALIN, Chairman of the Council of Ministers of the Soviet Union,
Let us recall some historic facts.
On June 22, 1941 it was Vyacheslav Molotov, that time Minister of Foreign Affairs of the Soviet Union, who addressed the nation to announce Germany’s treacherous attack on our country without a declaration of war. He coined the famous words: “Our cause is right. The enemy will be defeated. The Victory will be ours!”
During the war, the main tasks of Soviet diplomacy were related to the creation and strengthening of the anti-Hitler coalition, the opening of the second front in Europe, the development of fundamental interallied documents, and the post-war settlement.
On January 1, 1942 in Washington, four great powers—the Soviet Union, the United States of America, the United Kingdom and China signed the Declaration of the United Nations, later on joined by 22 more states. The activities of the anti-Hitler coalition enriched Soviet foreign policy with new modes of diplomatic service. These included intense exchanges between Joseph Stalin, Chairman of the Council of Ministers of the Soviet Union, Franklin Roosevelt, President of the United States of America, and Winston Churchill, Prime Minister of the United Kingdom, as well as preparation of leaders’ conferences in Tehran (Iran), Yalta (Soviet Union) and Potsdam (Germany).
The results of these three summits, achieved through the efforts of diplomats, cannot be underestimated. In Tehran (November 28 –December 1, 1943), the parties agreed to open a second anti-Hitler front in Europe, which, however, occurred only on June 6, 1944. During the Yalta Conference (February 4-11, 1945) the Declaration of Liberated Europe was adopted, and it was decided to convene a conference of the United Nations in San Francisco in April 1945 to prepare a charter for the organization. The Potsdam Conference (July 17– August 2, 1945) was of great importance for the future of Europe and the whole world as it concerned the principles of Germany’s arrangement after the end of the Second World War. It envisaged its complete denazification, demilitarization, demonopolization, democratization. The necessity of cancellation of all Nazi laws was emphasized.
In accordance with the agreement reached at the Yalta Conference on August 8, 1945, the Soviet side declared war on Japan. As a result of the Manchurian strategic offensive operation by the end of August, the Kwantung group of Japanese troops was defeated and completely disarmed. In the morning of September 2, 1945 on board the American battleship Missouri in Tokyo Bay, the Act of Surrender of Japan was signed, signifying the end of the Second World War.
It is hoped that after reading this short historical background readers
Awill agree that the attempts currently being made in the countries of the “collective West” to play down the role of the Soviet Union in the defeat of fascism look monstrous and ridiculous. Almost 27 million Soviet citizens died on the fronts, in German captivity, died from hunger and bombing, ghettos and ovens of Nazi death camps. The USSR lost one in seven of its citizens, the UK one in 127 and the USA one in 320.
During the war, the Soviet Foreign Ministry faced extreme difficulties. Despite the shortages of personnel, significant number of staff members, driven by patriotism, volunteered to the Army. In total, more than 400 diplomats defended their homeland on the frontlines, and 360 of them were decorated for their valor.
One of the important political and diplomatic outcomes of the war was that the leaders of the USSR, the USA and the UK managed to rise above the contradictions and jointly create on October 24, 1945 a global venue of universal nature the United Nations Organization. It was to become a reliable instrument of post-war peace and security and prevention of wars. Soviet diplomats succeeded in defending the principle of unanimity (veto power) of the permanent members of the UN Security Council in resolving all political issues, which is still of key importance for the leading powers to remain on the diplomatic track in reconciling differences arising among them.
The attempts to question the world order that emerged as a result of the Second World War and the Victory of the allied nations are very concerning nowadays. These actions of the West are justified by promoting the so-called “rules-based order,” which is a direct contradiction to the principles enshrined in the UN Charter, and first of all—the principle of sovereign equality of states. A stable world order in modern conditions must be based on taking all countries’ concerns and interests into account.
In conclusion, it is fitting to cite the words of Russian Foreign Minister Sergey Lavrov: “If the Yalta-Potsdam system is understood as the UN Charter and there are some calls for its dismantling, this would be a huge step backwards. Under current conditions, humanity will never again be able to agree by consensus on a fairer document.” Despite the existence of some objective shortcomings of the UN, the root causes of this are not in the viciousness or obsolescence of the principles of interstate interaction laid down in the basis of this organization, but in the unwillingness and inability of certain states, the West first of all, to follow these principles in practical policy. It is necessary to apply the principles of the Charter exclusively in their entirety, totality, and interrelation. (*This Op-Ed piece was contributed by the Embassy of the Russian Federation in the Philippines.)
Siegfred Bueno Mison, Esq.
THE PATRIOT
LL government officials should be mindful of this provision —“public office is a public trust”—starting from the president of this country, not only by the vice president, who has been impeached by Congress.
In South Korea, public officials who face public accusations either get impeached or resign; some even get incarcerated for wrongdoings. As of writing, South Korean President Yoon Suk Yeol has been arrested as he faces an impeachment after a shortlived martial law rule in December 2024. Back in 2016, Park Geun-hye, the first woman president of South Korea, was impeached and later got indicted and incarcerated. She was sentenced to 20 years in prison but was eventually pardoned by her successor, Moon Jae-in. Serving as president prior to Park Geun-hye, Lee Myung-bak was sentenced to 15 years in prison for corruption but was eventually pardoned by currently embattled President Yoon in December 2022. A few decades back, with mass demonstrations close to the magnitude of our EDSA People Power in 1986, President Chun Doo-Hwan voluntarily stepped down in 1987. There is something eerily off when we compare our own presidential travails with this narration of Korean leaders resigning, being impeached, imprisoned, and eventually pardoned. Former President Estrada resigned in the middle of an impeachment trial in 2001 whereas former President Gloria MacapagalArroyo was incarcerated due to corruption charges and election fraud by her successor, President Benigno Aquino Jr. However, both former presidents managed to return to public service whereas their Korean counterparts practically remain in public ignominy, no longer trusted by the people they swore to serve. All public servants ought to be trusted by the public. An anecdote tells us about a story of a father and daughter crossing a bridge. The father asked her little daughter to hold
his hand so she would not fall down into the river. The daughter replied. “No Dad, hold my hand.” The father had to ask—“What is the difference?” The daughter replied—“Dad, if I hold your hand and something wrong happens, I may let go of your hand. But if you hold my hand, I am sure you will never let my hand go.” That kind of trust is required for those who want to serve the people —dedicated, trustworthy, and can even require sacrifice, when necessary. If I was the father in such a story, for sure, I would never let go of my daughter’s hand even at the cost of my own life. Most parents would do that for their children out of love.
Such an anecdote tells us that trust comes first, wisdom follows.
Every Filipino voter practically asks government leaders to hold their hands trusting that they will not let go, meaning that they will care for the people and the country especially when things get rocky. With a sub-par national budget, in the words of former Senator Panfilo Lacson, or the most corrupt national budget, referring to the term used by former Finance undersecretary Cielo Magno, compounded by an ever-increasing national debt, things in this country are more than just rocky and rough. Needless to say, VP Sara, who is mired in an impeachment proceeding, unimpeded by a presidential pronouncement against it or by a prayer gathering of about 1.5M from a religious organization, feels alone if not betrayed by her supposed allies and friends in government. The bigger question is not whether VP Sara is guilty of those grounds of impeachment but whether she still enjoys the trust of the Filipino people. If she no longer enjoys the people’s trust, I humbly surmise that her political
career will end in three years (2028) by not being elected, unless sooner if removed by impeachment.
Inspirational speaker and author John Maxwell once said, “No leader can break trust with his people and expect to keep influencing them. Trust makes leadership possible.” Referring to his so-called Law of Solid Ground, Maxwell said that a leader must build trust by having competence, connection, and character. Maxwell used the example of Samson, a person gifted with competence in the form of special strengths but failed to earn the trust of his followers due to lack of character. Due to his own undoing, Samson failed to develop trust since he did not recognize and address his own flaws such as sexual impurities. Samson lost his Solid Ground. From what I know about VP Sara, her competence comes from being a lawyer while her connection or charisma comes from the fact that she was elected quite a few times as a public official in Davao City. But when it comes to character, the roughing-the-sheriff story way back in her political career (although in defense of people about to lose their homes) plus the more recent verbal tirade and threat against a sitting president (although triggered by the incessant accusations re: confidential funds) make me think twice. All efforts are directed at removing VP Sara now due to a purported betrayal of public trust, among other accusations. It is true that per my pastor friend, she should start assessing her relationship with God, —and so should every person and every government official including those members of Congress who were too eager to crucify her by swiftly endorsing the impeachment complaint, including a convicted felon and a notoriously known corrupt legislator. Should VP Sara be removed by impeachment, the nextin-line may well be a personality whose rise to the position is orchestrated to feed the selfish ambitions of the ones in control. There seems to be rush of the impeachment process inasmuch as Section 9 of Article VII of our Constitution provides that whenever the office of vice president is vacant, the president shall nominate a vice president from among members of the Senate and
Government learning academies
IJoel L. Tan-Torres
Part one
N my February 3, 2025 column, I mentioned the 2025 budget of several government training institutions that were part of the P1.055 trillion budget allocated for the education sector in the 2025 General Appropriations Act (GAA). These included training institutions or academies, such as the Local Government Academy, the Philippine National Police Academy, the Philippine Military Academy, and the National Defense College of the Philippines. The total budget of these and other similar agencies amounts to P90.7 billion for 2025.
In the legal and business regulatory area, there are specialized government learning academies that provide training to their staff and even to private practitioners. These include the Philippine Tax Academy (PTA), the Securities Exchange Commission (SEC-A) Academy, and the Intellectual Property Academy (IPA).
I discuss first the PTA. I am proud to say that I was the brains behind the creation of the PTA. Beginning with
my appointment as Senior Deputy Commissioner of the Bureau of Internal Revenue (BIR) in August 2009, I advocated for the formation of the PTA. During the latter part of 2009, I worked with a group of BIR officials to conceptualize the PTA structure. I was then able to visit the National Tax College of the National Tax Administration of Japan to observe the operations of the institution and gain valuable insights. their power to
tors to hold Sobrepeña accountable for his role in the financial debacles that have upended their lives. If accountability is not pursued, history is at risk of repeating itself, with more individuals falling victim to the same schemes and deceptions that characterized these two highprofile failures.
House of Representatives, who shall assume office upon confirmation by a majority vote of all members of both houses of Congress, voting separately. Ergo, most conscientious Filipinos I know tell me that the removal of VP Sara from office does not make a better Philippines. It can arguably be a start to cleanse things at best but her removal can lead to a worse situation at the hands of a stronger political dynasty and open the gates once more to perpetuation of the Marcoses in power? In one radio show discussing options for the embattled vice-president, political analyst Ricky Rivera openly suggested to the VP to resign for political survival. She should not run the risk of conviction from the Senate to avoid perpetual disqualification from holding public office. From a strictly legal standpoint, being the lawyer in the show, I suggested fighting and sticking it out under the assumption that deep in her heart, VP Sara knows she did nothing wrong to betray the public trust, among other grounds of impeachment. Yet, from a spiritual perspective, the better advice for our VP, as well as for every other public official beginning with the President and including the House Speaker, is to surround themselves with wise counsel in keeping to what the Bible said in Proverbs 19:20, “Listen to advice and accept discipline, and at the end you will be counted among the wise.” Trust good counsel to be wise to lead others, as wise people are trusted by many, including our Almighty God.
When we make efforts to be a trustworthy individual, we will not only be pleasing to God, but we will also merit stronger and more authentic relationships into our lives. Indeed, trust can be earned just as wisdom can be.
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.
When I was appointed Commissioner of Internal Revenue in November 2010, I moved for the passage of a law that would create a learning center for the tax collectors of the land, including the BIR. In early 2010, I constituted a group of young CPAs and lawyers coming from the Junior Executive Development Program (JEDP) of the BIR to help draft a bill that would establish a tax training academy. The idea then is to form a training organization that is separate from the tax collecting agencies that would focus on providing training, learning, and career directions to all tax collecting officers. With the assistance of the JEDP group. I was able to draft a bill that became the basis for the passage of the Philippine Tax Academy Act. I was able to have this certified as urgent by Malacanang and the approval of the bill in the two chambers of Congress was expedited and fasttracked. Republic Act (RA) 10143 was transmitted to Malacanang on July 1, 2010, and 30 days after on July 31, 2010, this lapsed into law without the signature of the President per Article VI, Section 27(1) of the Constitution.
As provided for in RA 10143, the mandate of the PTA is “to train, mold,
enhance, and develop the capabilities of tax collectors and administrators to help improve their tax collection efficiency and to become competent and effective public servants for the national interest.” This specialized institution would provide the appropriate education, training skills, and values to tax collectors and administrators and will disseminate tax laws, regulations, guidelines, and relevant information to the public.
Most countries, including Asean members, have their versions of training institutions providing learning activities to their tax collectors and stakeholders. The PTA law was passed 14 years ago, it is only in recent years that the PTA was able to organize and pursue its mandate.
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.
The financial debacles of CAP and CJHDevCo are a stark reminder of the dangers of unchecked corporate maneuvering. They highlight the importance of accountability, transparency, and integrity in business practices. If the lessons of CAP and Camp John Hay are not learned and acted upon, future generations may be doomed to repeat the same mistakes. The dealings of Sobrepeña and his companies cannot go unpunished, for if they do, the consequences will echo far beyond just these two cases, threatening the trust that investors and consumers place in the corporate world.
Franklin Roosevelt, President of the United States of America, Winston Churchill, Prime Minister of the United Kingdom, during the Tehran Conference—a trilateral summit of the Soviet Union, the United States of America, and the United Kingdom on November 28-December 1,1943 in Tehran, Iran. (1943, Tehran, Iran RIA Novosti Archive)
Monday, February 10, 2025
4-day work week vs traffic, Edsa busway’s stay backed
THEBy Claudeth Mocon-Ciriaco
government’s plan to remove the Edsa busway continued to draw the ire of commuters and interest groups, despite an announcement that it was taking back the proposal.
Also at the weekend, a lawyer and civic leader advised government to seriously consider, as a measure to reduce traffic on Edsa, expanding the pilot 4-day work week in San Juan City. This is way better than dismantling the bus carousel or imposing a congestion fee for users of the main highway, according to veteran election lawyer Romulo Macalintal.
Among those who cautioned against ever seriously considering the idea of removing the bus lane is the Management Association of the Philippines (MAP). On Sunday, it warned that, “Any talk of possible dismantling of the Edsa Carousel Line at this stage would be ill advised. It will be going against
By Andrea E. San Juan @andreasanjuan
SOME Philippine trade groups remain unfazed by US President Donald Trump’s recent tariff threats against China, saying it might even be advantageous to the Philippines if China faces constraints in selling in the United States.
Association of International Shipping Lines (AISL) President Patrick Ronas said: “So far, most of the containerized products we carry are from North Asia so I think it will not affect us yet.”
In a Viber message over the weekend, Ronas told the BusinessMirror that it “might prove to be advantageous for us if ... China is limited to sell in the US.”
“So far we have yet to feel the effects of the Trump administrations proclamations,” Ronas said, adding, “It may prove to be advantageous for the country as the government wants to push for trade deals that were left behind in the previous Trump administration.”
On February 1,2025, the White House announced that Trump would implement a 10-percent additional tariff on imports from China, and a 25-percent additional tariff on imports from Canada and Mexico due to the “extraordinary threat posed by illegal aliens and drugs, including deadly fentanyl,” which the US government said constitutes a national emergency under the International Emergency Economic Powers act (IEEPA).
According to the White House fact sheet, Trump is taking “bold action to hold Mexico, Canada and China accountable to their promises of halting illegal immigration and stopping poisonous fentanyl and other drugs from flowing into our country.”
A global news report by The Associated Press on February 4 noted that China countered Trump’s tariffs on Chinese products, particularly a plan to implement a 15-percent tariff on coal and liquefied natural gas products, as well as a 10-percent tariff on crude oil, agricultural machinery and large-engine cars imported from the US. The report noted that tariffs would take effect on Monday or February 10. (See: https:// businessmirror.com.ph/2025/02/04/chinaretaliates-against-us-tariffs-with-its-owntariffs-and-antitrust-probe-of-google/)
In a separate statement at the weekend, Philippine Exporters Confederation, Inc. (Philexport) President Sergio R. OrtizLuis Jr. said the 10-percent tariff imposed by the US on Chinese imports won’t affect Philippine exports, “because prices
the National Transport Policy of 2017 where public transportation is given priority as a mobility solution mandating the DOTr [Department of Transportation] and DPWH [Department of Public Works and Highways] to implement and regulate it.”
Instead, MAP said, the existing Mabuhay Lanes should be revitalized and utilized fully for motorcycles, and more so because they travel “point to point.”
“The MMDA should focus on this as a priority measure to decongest traffic on Edsa.The Mabuhay Lanes should be cleared of all traffic obstruction and illegal parking, rather than contemplating on the dismantling of the Edsa Carousel Line. Any
additional lane on Edsa given for private vehicles will be useless as it will soon be filled up by traffic, per our experience,” MAP added.
Last week, Interior and Local Government Secretary Jonvic Remulla and Metropolitan Manila Development Authority (MMDA) Chairman Romando Artes announced that the government is considering the removal of the designated busway along Edsa to cater to private vehicles.
‘Unrealistic’
IN the view of MAP, however, authorities should take note that giving preference to a private vehicle on the busway, effectively dislodging a bus that carries more people, is “unrealistic.”
The MRT3’s design capacity is just 350,000 passengers and adding a coach or bagon to it will overload its superstructure and trackway. Besides, there is no space on the platform for the coach extension.
MAP also quoted Transport Secretary Jaime Bautista in saying, “The Edsa Busway remains the most efficient public transit system in Metro Manila.”
“Its efficiency has been wellproven during the last three years
of its existence despite its incompleteness. The privatization of the Edsa Carousel Line is in the last stage of the preparation for its public bidding per funding of the PPP [public–private partnership] Center and the World Bank. Bidding is expected on the second quarter of this year,” they added.
Victory to commuters
AFTER Bautista announced that the government was no longer pursuing plans to remove the Edsa bus lane, Akbayan Partylist First Nominee Atty. Chel Diokno welcomed the announcement.
“This victory would not be possible if not for the vocal opposition of our commuters. The strong stance of our commuters was heard—underscoring that it’s their voice that should carry the weight in decisionmaking for the transport sector,” Diokno said.
The commuters’ demand is clear, he said: improve, not remove, mass public transportation. “Our commuters deserve more and better public transport options including bus lanes, rail lines, bike lanes, and more.”
BALIKBAYAN boxes that have been sent as expressions of love by Filipinos abroad to their families are now being used to ferry drugs that endanger the lives of many.
In a statement, the Bureau of Customs (BOC) said two balikbayan boxes from Canada were found to contain P39.6 million of kush or dried marijuana leaves.
The BOC and Philippine Drug Enforcement Agency (PDEA) agents were able to confirm the presence of kush in 108 pieces of vacuum-sealed pouches inside two balikbayan boxes. The pouches were immediately seized by BOC after its physical examination of the shipment last week.
“I see balikbayan boxes as a symbol of the love and sacrifice of Filipino families so they can have a good life. For other Filipinos to use these in the illicit trade of drugs that destroy lives and communities is horrifying,” BOC Commissioner Bien Rubio said in a statement.
“Illegal drugs have no place in our Bagong Pilipinas. Smuggling of any kind is what we, in the Marcos administration, will work to pulverize and end with finality,” he added.
The Customs Intelligence and Investigation Service (CIIS) received the derogatory information and requested for verification and inventory procedures to confirm the presence of illegal drugs.
said
CIIS Director Verne Enciso
the balikbayan boxes were shipped through U Mac Forwarders Express Inc. from Vancouver, Canada to San Mateo, Rizal. The boxes were originally declared to contain used household goods and personal effects from Canada.
“The physical examination of these boxes leaves no doubt that they shipped illegal drugs in the guise of used household items. The amount of marijuana we found will certainly hurt communities we swore to protect,” Enciso said. Enciso said the first balikbayan box contained 56 vacuum-sealed plastic pouches with kush and one small plastic container with 60 unidentified tablets. The kush found in the first box comprised more or less a total 14,672 grams as there were 262 grams per pouch. The second balikbayan box, Enciso said, had 52 vacuum-sealed plastic pouches of kush with more or less 262 grams per pouch, for a total 13,624 grams. Based on PDEA’s information, the estimated 28,296 grams found in the two balikbayan boxes have an approximate value of P39.61 million.
Deputy Commissioner for Intelligence Group Juvymax Uy hailed the seizure of the balikbayan boxes, which were returned to their containers and secured with padlocks
of goods are so low in China. Even if you add 10 percent, they’ll still buy these in the US.”
In fact, Ortiz-Luis said he expects Philippine exports to the US, the Philippines’s top export destination, to stay robust, “largely unaffected by the trade war between the two powerhouse economies.”
Meanwhile, according to the 166-member World Trade Organization (WTO), China initiated a dispute complaint last February 5 with the multilateral organization regarding the US tariff measures.
“China claims that the 10 percent additional ad valorem duties applied on all goods o riginating in China, as well as measures with respect to the availability of drawback and duty-free de minimis treatment, which apply to all products of Chinese origin, are inconsistent with US most-favoured-nation obligations under Article I:1 of the General Agreement on Tariffs and Trade [GATT] 1994 and US tariff obligations under Article II:1[a] of GATT 1994,” the WTO noted.
However, a study conducted by the Congressional Policy and Budget Research Department (CPRBD) explained that with Trump’s protectionist approach in his second term seen having a broader and more universal application, countries, including the Philippines, must prepare for potential economic shifts.
“The Philippines, which relies on the US as its top export destination, may be particularly vulnerable to these changes,” the CP RBD study noted. (See: https://businessmirror.com.ph/2025/02/07/phlfaces-1-22-billion-loss-from-wider-tariffs-application/)
Philippine Statistics Authority (PSA) data put the US as the coountry’s top export destination, with Philippine outbound shipments amounting to $12.12 billion in 2024 while Philippine imports from US amounted to $8.17 billion in 2024.
China is the Philippines’s third top export destination, with shipments to the economic powerhouse amounting to $9.44 billion. In contrast, China is the Philippines’s top source of goods with $32.81 billion import receipts in 2024.
The Philippines has a $3.95-billion trade surplus with the US, meaning, it exports more to the US than it imports by this amount.
With respect to trade with China, the Philippines is a net importer of goods, with a deficit of $23.37 billion. This means the Philippines imports more from China than it exports. (See: https://businessmirror.com.ph/2025/01/21/focus-onimproving-trade-ties-with-china/)
By Samuel P. Medenilla @sam_medenilla
TEN countries are eyeing to hire and enhance the skills of more overseas Filipino workers (OFW) as well as replicate the country’s migration framework, according to the Department of Migrant Workers (DMW).
DMW reported it engaged in high-level bilateral talks with the Kingdom of Saudi Arabia (KSA), Finland, the Bahamas, Oman, Jordan, Egypt, Indonesia, Tajikistan, Kyrgyzstan, and Libya during the Global Labor Market Conference in Riyadh, KSA last month to discuss
possible cooperation.
A highlight of the discussions is the interest of some of the said countries to open their doors to more OFWs.
“Various countries expressed their interest in hiring more Filipino skilled workers in the healthcare industry, hospitality, and construction, and other sectors,” said DMW Undersecretary Patricia Yvonne Caunan in a statement.
DMW said some of the countries also want to partner with the Philippines on upskilling initiatives for OFWs or to study its overseas employment program particularly its “best practices on facilitating
the safe and ethical recruitment and deployment of OFWs, and its initiatives to combat illegal recruitment.”
“The DMW and the said various countries intend to explore cooperation on creating a sustainable workforce through mutual development and training of its human resources and facilitate labor mobility and decent work in adherence to the standards and principles of safe, orderly, and regular migration,” the agency said.
The International Labor Organization (ILO) has considered the comprehensive Philippine labor migration policy as a model for
other countries. Last, DMW announced it is negotiating to update and strengthen its 2013 Memorandum of Agreement with KSA for the protection of Filipino domestic workers. Caunan said their engagement with the 10 countries is in line with President Ferdinand Marcos’s instruction “to strengthen bilateral relations to promote and protect the rights and welfare of OFWs.”
“The DMW remains steadfast in its mission to elevate the status of Filipino workers worldwide, ensuring they are protected, valued, and provided with dignified employment,” Caunan said.
Editor: Jennifer A. Ng
By Lorenz S. Marasigan @lorenzmarasigan
By Lenie Lectura @llectura
THE Manila Electric Co. (Meralco) filed before the Energy Regulatory Commission (ERC) its proposed annual revenue requirement (ARR) for the 5th regulatory period (5RP) amounting to over P393 billion, equivalent to an average of price of P1.688 per kilowatt hour (kWh).
The company filed last week an application with the ERC for the approval of its proposed ARR and Performance Incentive Scheme (PIS) for the 5RP, which will start on July 1, 2025 and end on June 30, 2029. Its application is in accordance with the ERC’s revised rules for setting distribution wheeling rates for private distribution utilities operating under Performance-Based Regulation (PBR).
P64,567,857,658 for RY 2029.
express freight, their business model requires them to land planes within that window.”
The numbers correspond to the estimated annual maximum average prices (MAP) of P1.6871 per kWh in RY 2026, P1.6899 per kWh in RY 2027, P1.6894 per kWh in RY 2028, and P1.6872 per kWh in RY 2029. These figures are subject to regulatory approval.
Meralco also stated in its application the projected capital expenditure (capex) budget for the period. On a per year basis, it will allot P34,386,654,560 for RY 2026 ; P58,500,566,560 for RY 2027, P57,911,849,596 for RY 2028; and
For the 2026 regulatory year (RY), Meralco’s total revenue requirement is P81,847,798,626. The projected ARR increases to P92,798,084,569 in RY 2027, P103,914,116,861 in RY 2028, and P114,618,979,078 in RY 2029.
The company said the proposed capex projects are necessary to augment the capacity of the network to meet demand growth or new customer requirements; to replace and refurbish aging, and obsolete assets; to relocate assets needed for the implementation of government infrastructure and third-party initiated projects and to purchase and construct non-network assets required for the normal efficient operation of the electric distribution system. It will be used to deploy automation and technology projects, including the Advanced Metering Infrastructure (AMI) program to more than three million customers, as well as innovative solutions for various electrification projects; and to comply with regulatory requirements. Meanwhile, Meralco’s proposed operating and maintenance expenditure (opex) are as follows: P31,303,262,800 for RY 2026, P33,848,691,523 for RY 2027,n P36,207,050,573 for RY 2028, and P39,302,373,330 for RY 2029.
The company said the proposed opex are necessary to maintain the safety, efficiency and reliability of the distribution network; support the growing asset base; allow the
IBM unveils AI models for businesses
YORKTOWN Heights, NY—
IBM Research hosted a tour at its headquarters here, discussing the latest advancements in artificial intelligence (AI), quantum computing, semiconductor technology, and sustainabilitydriven computing solutions.
The tour provided insight into IBM’s strategic roadmap for integrating AI, classical computing, and quantum computing into a unified, scalable ecosystem that addresses the growing complexity of enterprise and scientific workloads.
George Tulevski, Senior Man -
ager at IBM Think Lab, introduced IBM’s vision for a converged computing paradigm, where AI, quantum, and traditional computing operate within a cohesive infrastructure.
IBM is working toward eliminating silos between these architectures by leveraging OpenShift, an opensource cloud platform that enables seamless execution of AI and quantum workloads across CPUs, GPUs, and QPUs. This approach simplifies workload orchestration, ensuring that computational resources are optimized based on processing ef-
ficiency, latency constraints, and power consumption.
Nick Fuller, vice president of AI and automation at IBM, addressed the challenges of AI adoption in enterprises, particularly the difficulty in integrating proprietary business data into large-scale AI models.
To bridge this gap, IBM has developed custom AI models and InstructLab, enabling organizations to augment pre-trained AI systems incorporating their own datasets for enhanced accuracy and domainspecific performance. Troi Santos
in long term treasury yields.
“A continuation of this is expected to help the local market in advancing further.”
Chartwise, the local market’s support is seen at 6,150 points and resistance at 6,400 points.
STOCK PICKS
MAYBANK Securities maintained its buy rating on Filinvest Reit Corp. after the company announced that it will infuse Festival Mall from sponsor Filinvest Land Inc. via a property-for-share swap.
SHARE prices may continue its upward momentum, but investors will closely watch the meeting of the policymaking Monetary Board of the Bangko Sentral ng Pilipinas on Thursday (February 13). “Investors will watch out for the monetary authority’s policy decision and outlook. A cut in policy rates together with a dovish outlook is expected to give the market a boost,” Tantiangco said.
2TradeAsia said local metrics are looking steady, with inflation rate stood at 2.9 percent in January and consensus on the country’s gross domestic product has stabilized to still above average growth.
“Despite this slight tilt closer to the upper bound of 3- to 4 percent, instead of 2-3 percent, rate cut projections in the 50 basis points range are still very probable, on top of commitment from the BSP to further reduce banks’ reserve requirement, which should bring some energy back to the capital markets later in the year.”
Tantiangco said last week, the market also saw an appreciation of the peso against the US dollar as well as a decline
“Post the transaction, GLA [gross leasable area] will increase by 37 percent to 452,310 square meters with improved operating metrics. We estimate regulatory approvals to be completed by second half, raising our 2025/2026 forecasts by 9 percent/5 percent year-on-year growth, and target price to P3.50.” Filreit shares closed last week at P3.16 apiece.
Meanwhile, the broker gave buy rating on Ayala-led Bank of the Philippine Islands (BPI) after valuations for the lender become highly attractive as the overall Philippine market declined 17 percent since October 2024.
“As management expects 2025 loan growth and NIMs [net interest margins] to be similar to 2024, we believe BPI should trade closer to last year’s price to book ratio on average of 1.6 times with an return in equity close to 15 percent. With the positive outlook on NIMs and loan growth, we increase our target price to P165 from P160.”
BPI shares closed at P131.30 apiece last Friday. VG Cabuag
company to deliver services to its customers and support its business operations including the use of automation and digital technologies; meet the requirements of government programs; and meet the performance targets under the Performance Incentive Scheme.
Energy consumption is also projected to hit 55,012,937 megawatt hours (MWh) in RY 2026; 56,654,727 MWh in RY 2027; 58,578,864 MWh in RY 2028; and 60,603,819 MWh in RY 2029. The estimated energy sales are based on its projected annual peak demand of 9,576MW in 2026; 9,910 MW in 2027; 10,284MW in 2028; and 10,671MW in 2029.
Earlier, the ERC redefined Meralco’s 5RP replacing the initial coverage of RYs 2022 to 2026 because certain years within Meralco’s original 5RP have already lapsed. The regulatory delays in dealing with Meralco’s application were brought about by “complex legal challenges, along with prior actions of various stakeholders.”
The original 5RP application stated an ARR of P320.5 billion and an average price of P1.5702 per kWh.
ASECOND runway at Clark International Airport (CRK) will provide critical operational redundancy and solidify the airport’s position as a premier logistics hub in the region, according to Luzon International Premiere Airport Development Corp. (Lipad), the operator of the airport.
In an interview last week, Lipad Corp. President Noel Manankil underscored the importance of additional runway capacity in enhancing Clark’s appeal to major logistics operators such as FedEx and UPS.
“If you look at capacity, the runway capacity of Clark is 40 flight movements per hour. The value of a second runway lies in its redundancy.”
Manankil said locators such as FedEx and UPS require that for a particular window in a day “they have to be in one place to exchange cargo.”
“They cannot afford to have any delay or issue that a plane cannot land because they won’t be able to do the transshipment of cargo,” he said. “If we are posturing Clark as a logistics hub and FedEx and UPS are
“So to guarantee that, you have to have redundancy, so that’s the value of a second runway.”
The planned runway, which will require an investment of P7 billion to P10 billion, is part of Clark’s long-term strategy to attract more logistics operators and enhance its operational efficiency.
The new runway is designed to be 3,200 meters in length and 60 meters in width, with provisions to extend up to 4,000 meters in the future to accommodate larger aircraft and increased air traffic.
Manankil said the second runway should not only serve as a backup but also be designed to accommodate a wide range of aircraft operations.
“The runway should be multifunctional,” he added, highlighting the need for flexibility in serving both passenger and cargo operations.
Clark’s expansion plans come as the government seeks to decongest Metro Manila’s Ninoy Aquino International Airport (Naia) and position alternative gateways as viable options for international airlines and cargo carriers.
Banking&Finance
ADB fund for geothermal de-risking awaited by DOE
By Lenie Lectura @llectura
THE Department of Energy
(DOE) is set to finalize with the Asian Development Bank (ADB) a de-risking mitigation fund for capital-intensive geothermal power projects.
“We need geothermal de-risking, meaning to say the government and the private sector will share in the risks of exploration of geothermal. We’re very happy to tell you that finally, maybe, we’ll have a loan from the ADB just to do that. We hope that it will be finalized this year,” said DOE Undersecretary Rowena Cristina L. Guevara.
According to Guevara, there are no new geothermal resources discovered because exploration is very expensive.
“The last time we were drilling holes was in 2012. Geothermal cost is very high at the beginning but after the 20-year period when the loan has been paid for the capital, it will become very cheap,” she explained. “They’re worth the initial investment.”
DOE Renewable Energy Management Bureau Director Mylene C. Capongcol had said that government is seeking to secure an initial $250 million de-risking facility. She said the agency would discuss this with the Land Bank of the Philippines, Development Bank of the Philippines, Department of Finance and the Philippine Guarantee Corp. During the 5th Philippines International Geothermal Confer -
ence last year, Energy Development Corp. (EDC) Vice President Marvin Kenneth S. Bailon said geothermal drilling for two wells costs about P1.2 billion to P2 billion, excluding 3D seismic and surface study.
“The risk in geothermal comes during exploration stage. We drill well and about 20 percent do not produce commercially. That is expected because we are looking for resources. You look for an area where it is possibly located,” said Bailon, who heads EDC’s Business Development Group. “Maybe you would need about P1.5 to P2 billion for the first two wells. First, you do a surface study, 3D seismic, and then the drilling where the big investment comes. You put a rig, you have to build roads, paths where the rig will come in. You have to drill three to five wells.”
As one of the top three global leader in geothermal energy production, the Philippines presents both an opportunity and challenge. The National Geothermal Association of the Philippines (NGAP) said last year that the group is taking bold steps to unlock the potential of geothermal energy via the derisking geothermal roadmap, particularly on establishing the exploration risk mitigation facility.
“This derisking facility will surely boost interest in undertaking exploration drilling in the years to come, and eventually lead to the development of more geothermal projects,” said NGAP President Jaime Jemuel C. Austria, Jr. “Our collective efforts can advance the Philippine geothermal industry to the next level of growth.”
Inflation is proving sticky as Fed Chair Powell heads to the Hill
By Vince Golle & Craig Stirling Bloomberg
US inflation showed scant signs of downward momentum at the start of the year, while healthy job growth undergirded the economy, backing the Federal Reserve’s stance to hold the line on interest rates for now.
Fed Chair Jerome Powell, who offers his semiannual testimony to lawmakers on Tuesday and Wednesday, will likely highlight the resilient economy as a key reason central bankers are in no rush to further cut borrowing costs. With the economy in a good place, Fed officials also have time to assess the impacts of the new Trump administration’s policy changes on trade, immigration and taxes.
Bureau of Labor Statistics figures due on Wednesday, shortly before the second half of Powell’s two-day testimony marathon, are forecast to show the consumer price index excluding food and energy rose 0.3 percent in January for the fifth time in the last six months.
Compared with a year earlier, core CPI is forecast to have risen 3.1 percent. While marginally lower than than the annual figure for December, that’s just a 0.2 percentage point decline from the middle of last year. After sizable declines in 2023 and early 2024, progress toward further disinflation has essentially stalled, just as the job market revved up late last year. On Friday, Labor Department data showed payrolls growth in the three months through January averaged 237,000—the strongest for any similar period since early 2023. That helps explain why Fed officials are content to stand pat for the time being after a full percentage point of rate cuts in 2024. Moreover, proposed policies from the Trump administration risk keeping inflation elevated.
The CPI report, which also includes an annual update of seasonal adjustment factors and a re-weighting of components that go into the index, will be followed on Friday by retail sales for January. Economists estimate another healthy advance in merchant receipts for the month, excluding motor vehicle dealers.
Meanwhile, President Donald Trump’s announcement that he intends to unveil reciprocal tariffs this week will be watched for their potential impact on both the US and the world economy.
Over ₧60B raised from biz permits issued by 14 LGUs
By Andrea E. San Juan
REVENUES collected from business permits processed by 14 local government units (LGUs) in Metro Manila reached more than P60 billion in 2024, nearly 14-percent higher than the revenues collected in 2023, data from the Anti-Red Tape Authority (ARTA) showed.
According to ARTA Secretary Ernesto V. Perez, these 14 LGUs are fully compliant with the “Electronic Business One-Stop-Shop” (eBOSS) system established under the administration of then-President Rodrigo R. Duterte. Through this system, LGus can accept online or electronic submission of application and accept online payments as well as issue electronically the tax bill/order of payment and electronic versions of permits and licenses and clearances.
Among these LGUs, Quezon City remained to be the highest revenuegenerating in terms of business permits collected last year, amounting to P23.64 billion, according to data presented by Perez at a forum held last week by the Stratbase ADR Institute.
Taguig City followed with P12.47 billion in revenues collected, Parañaque City with P5 billion, Manila with P4.95 billion, Pasay City with P3.31 billion and City of Mandaluy-
ong with P3.28 billion. The LGUs that followed include: Muntinlupa, P2.50 billion in revenues; the City of Valenzuela, P2.03 billion; Las Piñas City, P1.46 billion; Marikina, P1.02 billion; City of San Juan with P951 million, City of Malabon with P480.74 million; the City of Navotas with P283 million; and, Caloocan City, P243.54 million.
The Cities of San Juan and Malabon saw a dip in their revenues from business permits as they posted double-digit declines of 12.26 percent and 18.30 percent, respectively. Meanwhile, in 2023, the total amount of revenue collected by these 14 LGUs from business permits reached nearly P55 billion. With this, revenue collections from business permits rose 13.75 percent to P61.62 billion in 2024.
In 2022, an earlier statement of ARTA noted that revenues from business permits amounted to P26 billion. In 2021, total business permit revenues from 13 LGUs only generated P24 billion.
In his remarks during the 2025 Ease of Doing Business (EODB) Eco -
Anti-mining group nixes Senate
nomic Briefing, Perez underscored the importance of having efficient regulations.
“Regulatory inefficiency is not just an inconvenience, it is a tax or burden on opportunity. For businesses, every delay in getting a permit means lost revenue. Every extra step means wasted resources. For investors, uncertainty drives capital elsewhere,” he said.
Perez underscored that if the country’s system is “slow and unpredictable,” the Philippines will lose out to more efficient economies.
Last year, the ARTA chief said that 113 LGUs in the Philippines were fully automated. This year, ARTA is targeting to fully automate an additional 200 LGUs, ARTA Undersecretary for Operations Gerald G. Divinagracia told reporters recently.
Having a fully operational eBOSS means being able to streamline procedures for the filing of applications and issuance of local business licenses, permits, clearances, and authorizations through the LGU’s provision and usage of an “on-demand” single, digital portal, according to ARTA.
bill’s fiscal provision
Looking north, the Bank of Canada’s summary of deliberations will offer insight into the central bank’s move to strip all forward guidance from its rate decision due to the uncertainty of Trump’s threat of tariffs.
Elsewhere, UK growth data, testimony by the European Central Bank president, Indian consumer prices and rate decisions from Russia to Peru will be among the highlights.
Asia
DATA published Sunday showed that China’s consumer inflation accelerated for the first time since August, caused by a burst of household spending around the Lunar New Year holiday even as deflationary pressures persist.
For the remainder of the week, India will be the main focus after the world’s fifth-largest economy unexpectedly reported the weakest growth since the pandemic. Its central bank on Friday delivered the first rate cut in almost five years.
On Wednesday, industrial production figures are likely to show India’s activity slowing in December and consumer prices at the start of 2025 easing to the slowest pace since August. Wholesale prices, though, another measure of inflation, likely accelerated. We’ll also get January trade data on Friday.
Moving east, consumer confidence data is expected early in the week from Indonesia, Vietnam provides figures on vehicle sales, and Malaysia releases the final reading of gross domestic product for the fourth quarter.
The Philippines central bank is forecast to cut its lending rate on Thursday by 25 basis points after a decline in rice prices, which have an outsized influence on the country’s inflation readings.
In South Korea, the unemployment rate for January, set for release on Friday, will show labor market conditions after joblessness surged to the highest level since 2021 in the prior month. Import and export price figures will provide a look at January demand after trade activity declined. Japanese producer prices likely accelerated on an annual basis and held firm in January from the prior month.
On Wednesday, the country also releases preliminary machine tool orders for January, a snapshot of global demand as it’s one of the world’s largest manufacturers of the machines. This measure jumped the most since June in the prior month.
By Jonathan L. Mayuga @jonlmayuga
WHILE mining companies have expressed discontent over certain provisions of Senate Bill (SB) 2826, antimining groups have also expressed dismay over the “Mining Fiscal Regime” bill’s swift passage in the Upper House.
According to the “Alyansa Tigil Mina” (Stop Mining Alliance) group, the proposed law heavily favors mining corporations and lowers the government’s potential revenues.
The group’s statement quoted its national coordinator, Jesus Vicente C. Garganera, as expressing dismay after SB 2826 was “hastily sent” to the bicameral committee for deliberations.
Garganera also lamented that
groups like his that are opposed to mining were not even consulted on the proposed provisions of the bill. He stressed that the Senate bill “is not the version that environmental and transparency groups supported when this Congress started.”
“The new tax rates effectively reduce the tax that can be collected by government,” Garganera said. “The formula for the windfall profit tax is absurdly high such that it is unrealistic to expect additional tax collection by the government.”
The ATM official further criticized the proposed export ban on raw mineral ores.
The 5-year window before to the ban on the export of raw nickel ores will only make miners fast-track their extraction, which will result in more mining projects, more destruc-
tion of our ecosystems and more displacement of affected communities, but with reduced taxes and revenues from mining, Garganera said.
“This is a win for the mining industry, but a great loss for Filipinos, Philippine biodiversity, and the country’s economy,” he said. The Chamber of Mines of the Philippines (COMP) and the Philippine Nickel Industry Association (PNIA) have expressed their support behind the fiscal provisions of Senate Bill 2826.
However, the COMP and the PNIA nixed the provision in the same measure that imposes a ban on the export of raw ores, saying it is the last thing the country needs.
In rejecting the proposed ore export ban under the same SB 2826, COMP and PNIA said the provision’s intended purpose of compelling min-
ing companies to build processing plants within five years before the enforcement of the export ban will not happen.
“It will even most likely lead to considerable unintended consequences,” the organizations said through a statement.
According to them, the Philippines has the highest power costs in Asia. However, it still lacks the necessary infrastructure, such as power plants, transport networks, and facilities to support large-scale domestic mineral processing. Moreover, several local ordinances remain in conflict with national mining laws, the COMP and PNIA said.
“Unless these issues are fully addressed, mineral processing will remain but a dream. Simply, there are no shortcuts,” the organizations maintained.
Volatility sends Asian funds searching for shelter
DONALD TRUMP’S punishing tariff salvos and frequent flip-flops are laying down a challenge to Asian fund managers: how to avoid any potential wipe-outs in a headline-driven market.
The US president’s plethora of announcements in his first three weeks in office, targeting nations as diverse as Canada, Mexico and China, have whipsawed financial assets from Treasuries to oil and Bitcoin. They’ve also made selecting investments based on long-term fundamentals something of a fool’s errand.
Asian investors are responding to the volatility by seeking out assets offering relative protection from the swelling global trade frictions. Among these are DeepSeekthemed “hidden gems” in China, high-yielding stocks in Singapore and Australia, countries with upsized domestic markets, and India’s government bonds.
“Our playbook for Trump 2.0 was to buckle up for higher volatility, so investors should take less gross risk now than in 2024,” said Louis Luo, head of multi-asset investment solutions for Greater China at abrdn plc in Hong Kong. The infinite loop of “escalation, retaliation, negotiation and de-escalation,” will create a lot of noise and volatility, he said. Here are some of the investments currently favored by Asian money managers and analysts.
DeepSeek theme
ONE place to reduce exposure to
Trump tariff headlines is seen in Chinese technology firms related to DeepSeek’s new artificial intelligence app.
The nation’s internet giants, such as Alibaba Group Holding Ltd., have touted their ability to build AI models of comparable capacity to their Western rivals, adding to their allure. The expected wider adoption of AI in China has helped software companies such as Beijing Kingsoft Office Software Inc. and 360 Security Technology Inc. jump almost 30 percent this year, putting them among the top 10 performers in the CSI 300 Index.
A gauge of Chinese tech shares trading in Hong Kong entered a technical bull market Friday on the back of DeepSeek’s AI model, which had drawn bullish comments from analysts at firms such as Deutsche Bank
AG and HSBC Holdings Plc.
Chinese stocks have proven to be a difficult trade in recent years but there are “a lot of hidden gems,” said Joanne Goh, senior investment strategist at DBS Bank Ltd. in Singapore “Because of DeepSeek, we see a lot more attention coming back to China’s technological prowess.”
Dividend shares
ANOTHER area that’s tipped to provide a shelter from the current high volatility is in companies with a track record of high dividend payments. A gauge of such firms has returned 15 percent over the past year, beating the 12--percent gain from a broad basket of regional stocks.
“We like the following areas in the current volatility—Singapore and Australia as high yield, higher quality markets with more diversi-
fied trade,” said Sat Duhra, a portfolio manager at Janus Henderson Investors in Singapore. Singapore’s benchmark stock index yields 4.9 percent based on estimated dividends for the next 12 months, while Australia’s yields 3.4 percent. Those compare with 2.5 percent for the broad MSCI Asia Pacific gauge.
Duhra said he also favors higher-yielding Chinese state-owned enterprises as they are likely to be supported by Beijing’s directive to guide companies to increase shareholder returns.
Domestic giants MONEY managers say another strategy to reduce the tariff risk is to put funds into countries with relatively large domestic markets and a correspondingly small reliance on exports.
India and Indonesia both have large internal markets and their “growth trajectories are less tied to the ebbs and flows of international trade, making them potentially more resilient,” said Manish Bhargava, chief executive officer at Straits Investment Management in Singapore. India’s exports represented about 21.9 percent of gross domestic product in 2023, while Indonesia’s was 21.8 percent, according to data published by the World Bank. Those figures compare with about 29.3 percent for the world as a whole, and more than 170 percent for a
Kabuto
building in Tokyo, Japan. CREDIT: TORU HANAI / BLOOMBERG
X MARKS THE MISFIRE:
How the slash-and-burn tactics Musk brought to Washington backfired at Twitter
By Matt O’brien & Bernard Condon
The Associated Press
When elon Musk bought Twitter in 2022, he laid off thousands of employees, stopped paying rent and auctioned off coffee makers and office chairs in hopes of a big turnaround.
Now the world’s richest man has brought the same slash-and-burn strategy to the federal government, and some people who experienced Musk’s takeover at Twitter have a warning: Expect chaos, cuts driven by ideology as much as by cost concerns, intimidation and plenty of lawsuits.
Since assuming leadership of the Department of Government Efficiency, Musk has consolidated control over large swaths of the government with President Donald Trump ’s blessing, sidelined career officials, gained access to sensitive databases and invited a constitutional clash over the limits of presidential authority.
Emily Horne, who was head of Twitter’s policy communications before joining the Biden administration, describes Musk’s modus operandi as: “Take it over, ruthlessly purge anyone who he sees as opposition and crash operations to remake it in his worldview.”
It’s unclear whether his push for “extremely hardcore” changes at Twitter has paid off. Revenue at the company now called X has plunged, the number of users has dwindled and even Musk himself has expressed frustration at how long it is taking to turn around the company’s finances.
“It isn’t working,” said Ross Gerber, a minority stockholder at X who has written down his stake to zero and expects Musk to fail in Washington, too. “The federal government is going to eat him up and spit him out.”
By some measures, X is still a success. The platform continues to attract hundreds of millions of users worldwide and has cemented Musk’s political influence. But exactly how it is faring financially is difficult to say because the company is private.
The same week that Musk’s teams at DOGE were threatening to lay off tens of thousands of federal workers, bankers who loaned him billions of dollars to buy Twitter were bracing for losses and trying to unload the loans on others. Musk has apparently given up hope of attracting key advertisers back to the platform and has sued some of them.
Examples of budget-minded business leaders who brought their skills to government work abound, but Musk made clear—at both Twitter and DOGE—that his priorities go beyond efficiency into rooting out a “woke” agenda.
Long before fighting diversity, equity and inclusion efforts became a centerpiece of Trump’s third presidential campaign, Musk eliminated Twitter’s DEI initiatives and the people administering them.
“The culture of Twitter died,” said former employee Theodora Skeadas, whose job was cut in the weeks after Musk bought Twitter for $44 billion in October
2022. “For a lot of these agencies and organizations, that may be in their future.”
Another tactic that Musk appears to be bringing to the government: “performances of loyalty.”
That is how former Twitter executive Rumman Chowdhury describes Musk’s drive to make workers prove the value of their work in a way she says demonstrated fealty. For instance, engineers were told to print out code then line up to have an inexperienced engineer evaluate it.
“It’s a fear and intimidation tactic,” Chowdhury said. “I don’t know if it’s the best leadership style long term, as demonstrated by how abysmal Twitter/X is doing.”
Musk later sought to rehire some of the engineers he fired. His instinct to threaten also backfired with advertisers.
Within months of Musk’s takeover, advertising revenue plunged by half as brands fled X over fears he was loosening content moderation too much. But instead of courting the companies, Musk took to X threatening to “thermonuclear name & shame” them for leaving his platform. Later at a conference, he used an expletive and urged them, “Don’t advertise.”
“Talk about shooting yourself in the foot,” said ad consultant Tom Hespos of Abydos Media, who told his clients at that point to avoid even posting on X because it could damage their brand. “That is probably the worst comment he could have made.”
In August, Musk doubled down by suing Unilever, Mars, CVS Health and several other compa -
nies that had dropped Twitter, accusing them of engaging in an “illegal boycott.” On Saturday, he added more companies to the lawsuit, including Lego, Shell International, Tyson Foods, Nestle and Colgate-Palmolive.
His drawn-out legal battles with more than 2,000 former Twitter workers are also a sign of the kind of court fights that could await the government. A federal judge on Thursday put on hold a midnight deadline the same day for government workers to accept Musk’s “deferred resignation offer” promising pay through September without having to work.
The email announcing the offer was titled “Fork in the Road,” echoing a similar email Musk sent to the Twitter workforce in 2022.
More than two years later, Musk’s X is still “spending an insane amount of money” defending against allegations by former Twitter employees that they are owed money, said lawyer Shannon LissRiordan, who represents hundreds of the workers. She said it would have been cheaper just to pay them what they were owed.
“If that is the way decision making is being made for the federal government, I’m very concerned about the finances of the federal government,” she said. Neither X nor DOGE responded to requests for comment from The Associated Press. Along with gutting the company’s workforce and auctioning off memorabilia and office furniture, Musk’s extreme cost-cutting strategy at Twitter included simply not paying its bills. Landlords of the social media company’s headquarters in San Francisco as well as its British offices took the company to court for millions of dollars in unpaid rent.
Even if the X cuts were an unmitigated success, it’s unclear whether the same tactics would work for cutting costs and still delivering services at government agencies.
Nicholas Bagley, a law professor at the University of Michigan, said Musk and Trump are arrogating spending power that belongs to Congress, not the executive branch, and he predicts lawsuits over the moves will hamstring their efforts.
“All this is of dubious legality, and that’s before you get to the civil service protections,” Bagley said, referring to federal workforce rules preventing layoffs for political purposes. “You’re going to see a lot of bombast and rhetoric, but I suspect it’s going to yield fewer things on the ground.”
A few in Musk’s orbit have tried to warn him against moving too rashly, including prominent tech investor Paul Graham, who in a recent X exchange asked Musk to “take your time and do it carefully.”
The government
“isn’t just a company. Companies are born and die within the system, and it’s OK. But this is the system itself we’re talking about here.”
Minority X stock owner Gerber, CEO of investment firm Gerber Kawasaki, praises Musk for instilling a sense of belonging to the “special forces of business” at his companies. But he thinks Musk will fail in Washington.
“The idea that you can fire all these people doesn’t work,” he said. “We’re about to see an epic battle.”
The British case settled for an undisclosed sum. The San Francisco case was dismissed last year; it’s not clear if a settlement was paid. Musk has also brought one of X’s real estate executives over to the government.
TernoCon 2025: The Mentors
MISS UNIVERSE 2025 UNFOLDS IN THAILAND
By Troi Santos
NEW YORK, New York—It’s official: Thailand will be the host country for the 74th Miss Universe competition in 2025. The news was revealed during the Miss Universe NYC Launch Event held at the WSA building’s 17th floor screening room and lounge. The event brought together top fashion figures, industry leaders, and devoted pageant fans to celebrate the moment in Miss Universe history. The night kicked off with Carson Kressley, Emmy-winning TV personality, and Hannah Lopa, model and presenter, setting the stage for an evening full of big announcements. Lopa welcomed the audience: “Welcome to the Miss Universe New York City launch event during New York Fashion Week.” Kressley, a proud New Yorker, added: “We always think of New York as the center of the universe, so what better place for Miss Universe to make a major announcement.”
One of the biggest reveals of the night came from Raúl Rocha Cantú, president of the Miss Universe Organization, who announced the opening of Miss Universe’s new corporate headquarters in New York City. Standing onstage, he shared, “We are so proud to announce that Miss Universe now has a home in the heart of New York City, right here in the WSA building. Being surrounded by landmarks like Wall Street and the New York Stock Exchange places us right at the center of global business, entertainment and fashion.” He also revealed that the new space includes recording studios, photography and video production areas, and creative workspaces to take the Miss Universe brand to new heights. Moreover, Miss Universe is preparing for an IPO on Wall Street, meaning it’s gearing up to become a publicly traded company.
But the biggest moment of the night came when Anne Jakrajutatip, CEO of Miss Universe and president of JKN Global Group, took the stage to reveal where the Miss Universe 2025 competition will take place. Smiling at the excited crowd, she said, “Today, we are thrilled to announce where the world’s most iconic beauty competition is headed next.” She explained Miss Universe’s 3Ps strategy—Pageantry, Platform, and Products, which expands the brand beyond the competition into fashion, beauty and lifestyle industries.
In a video presentation, it was revealed that the 74th Miss Universe competition will be held in Thailand when Miss Universe 2024 Victoria Theilvig showed up in Thailand in the video. The room erupted in cheers as the video played, showing off Bangkok, Pattaya and Phuket, the three host cities for the event.
Jakrajutatip went on to share exciting details about Miss Universe 2025. The Muang Thong Thani Impact Arena will host the final coronation on November 21, 2025, but the competition will be much more than just one night. Contestants will spend nearly a month in Thailand, taking part in fashion events, charity initiatives, and cultural experiences. She also teased details about ticket sales, hotel accommodations and partnerships with top fashion designers, makeup artists and sponsors, promising that this year’s pageant will be “bigger, bolder, and more exciting than ever before.”
WITH TernoCon 2025, the country’s fashion calendar is off to a fantastic start. The TernoCon 2025 Final Competition Night and Cultural Show, which presented the works of 12 finalists, was held on January 26 at the Philippine International Convention Center.
Now on its fourth edition, it is a collaboration between Ben Chan of Bench and the Cultural Center of the Philippines led by its president Kaye Tinga, artistic director Ricardo “Eric” Cruz of Ternocon 2025, and founding artistic director and artistic consultant Gino Gonzales.
The stylist Noel Manapat proved his mettle behind the scenes while Eric Maningat worked his hair and makeup magic. Dexter Santos directed the wellattended show.
The legendary Inno Sotto served as the chief mentor. Here, the 2025 mentors Rhett Eala, Lulu Tan Gan and Ezra Santos share what inspired their collections and what they learned from their mentees:
LULU TAN GAN: ‘BREEZE OVER CANVAS’
TAN GAN chose as her inspiration the National Artist for Visual Arts Ang Kiukok because she’s very attracted to his works, which convey deep emotional resonance, making them both visually striking and thought-provoking.
“His use of sharp lines, strong colors and geometric abstraction gives his art a raw, almost primal energy. I aspire to own one of his artworks,” states Tan Gan, who shares her thoughts on her collection and being a mentor:
“I used mostly piña, silk and abaca. Waiting for piña fabrics to be hand-woven is like embarking on a pilgrimage—it requires patience. The making of any garment or a collection requires dedication, and a deep appreciation for the journey as much as the final creation.
“My mentees are all incredibly talented, each possessing a distinct sense of aesthetics from the outset. They are adaptable, spontaneous, and open to exploration in their creative approach. They are Bryan Peralta, Ram Silva, Patrick Lazol and Nina Gatan. Hats off to all of them.”
“Being accepted into TernoCon is a significant opportunity. It offers not just a platform, but also the chance to be guided, to refine our skills by practicing the process of designing with a strong creative inspiration. This experience can elevate their career [and sustaining mine] as designers, shaping their approach and artistic identity for the long term.”
EZRA SANTOS: ‘AISIA’
“THE materials I used are crepe georgette, chiffon crepe and piña and capiz in nude tones; copper silk taffetas and beadwork and copper metal accessories inspired by sculptures of sarimanok oppir and fishes since I was assigned to the National Artist for Visual Arts Abdulmari Asia Imao, a Tausug and the first Moro to receive the recognition.
“I had difficulty interpreting the artist in the garments because of the Muslim background to create a terno, balintawak and kimona that will not look like a Spanish mestiza but more towards the softness of
Thoughtful beauty gift ideas for hearts day
GIVING gifts on Valentine’s Day, especially to women, can be tricky. While the tried-and-tested combination of flowers and chocolates will be appreciated by most, there are those who prefer more practical or, conversely, extravagant gifts.
We have compiled some Valentine’s Day beauty-related gift suggestions for your wife, partner, mother, friend, daughter, and workmate which we think they will appreciate.
n BULGARI CHILL & SOLE EAU DE PARFUM. It’s not a secret that Bulgari Omnia Amethyste is one of the bestselling fragrances in the country. Meanwhile, Bulgari Allegra offers a collection of perfumes and magnifying essences, all created to allow the user to create their own unique scent. The idea behind Bulgari Allegra is for a woman to have a fragrance
wardrobe with a scent for every occasion. You can wear the perfume by itself without the magnifying essence, or only wear the magnifying essence, which are each made of a single ingredient. Each scent is designed and tested to all be compatible. I first heard of Bulgari Allegra Chill & Sole when it was introduced in 2024 because of Korean actress Kim Ji-won who attended the launch in Singapore. Chill & Sole is a citrusy scent for the summer, inspired by the vibrant Mediterranean spirit and connection to nature. It was created by master perfumer Jacques Cavallier. Chill & Sole combines the dazzling brilliance of neroli with fresh notes of citrus, orange blossom accord, and petitgrain. The first note you’ll smell is lemon so you know right away that this is a summer scent. This is followed by neroli, which evokes thoughts of a seaside breeze, followed by Italian mandarin, jasmine sambac, and orange blossom. Finally, the fragrance is anchored by classic white amber and musk notes. Longevity is very impressive at up to eight hours. Bulgari Chill & Sole is available at Rustan’s.
n REVLON PROFESSIONAL EQUAVE HYDRO INSTANT DETANGLING CONDITIONER. I’m a big fan of Revlon Professional products for my hair because they are effective and contain good ingredients. Revlon Equave Hydro Nutritive Instant Detangling Conditioner is ideal for dry, damaged, or overly processed hair. I apply it on damp hair after I have shampooed, or dry hair in the morning when my hair looks
a Filipina Muslim. Even his paintings are so colorful but when I saw the sculptures and drawings of the late artist sent by the family, that’s where I got my inspiration to create accessories and sculptural pieces for the show.
“My mentees are Lexter Badana, Jared Servano, Geom Hernandez and Irene Subang. They are all wonderful. For me, they are all winners because being part of TernoCon has gained them knowledge and experience and great exposure. I’m so proud of them. They did their very best and the outcome is just fantastic.”
RHETT EALA: ‘ODE TO LAO LIANBEN’ LAO LIANBEN, the “Filipino visual artist known for being the first artist who introduced the use of found objects and indigenous materials in assemblage,” served as Eala’s inspiration. Ricky Vicencio created the bucket cloche hats made of horsehair crinoline, dotted tulle and dotted organza.
Eala’s shares his mentoring journey:
“Lianben was chosen for me by the CCP. I think it’s because they knew that I knew about his work and I know him personally. In fact, before I started
like a nest. This is a bi-phase formula. The upper phase detangles the hair and adds shine while providing protection, while the lower phase revitalizes and hydrates the hair fiber providing flexibility and nourishment. You can get this from HairMNL for P810.
on the collection, I ran into him in the mall. It was serendipity.
“We used a lot of silks and tulle and piña from Aklan. There were really no challenges in procuring them because I have been collecting these fabrics in my travels. I’ve always wanted to do this project. It’s a commitment to nurture these young talents. It was very fulfilling. It’s like passing on your knowledge to the next generation of designers.
“My mentees are Peach Garde, Windell Madis, Koko Gonzales, Jema Gamer and Noel Marin. Of course, I am very proud. Like a proud parent. This was one of the most challenging TernoCons because there were parameters and the inspirations of their chosen artist. They really pushed themeselves to produce beautiful collections.”
Windell Madis, who was the Joe Salazar Awardee (Chief Mentor’s Award), said: “I’ve learned that tenacity and hard work is the outcome for a successful journey.”
Peach Garde, who was the Pacita Longos Awardee (Gold Medalist), said of being mentored by Eala: “I learned to strengthen my core, and maintain my style and develop my craft.” n
n SUNNIES FACE JUICETIN. Sunnies Face Juicetint is a hydrating soft lip tint that feels luxurious, is non-drying, and applies evenly. The brand recently released six new Juicetint shades: Punch (candy pink), Burnt Butter (almond nude), Amaretto (nude wine), Bubble (carnation pink), Mulberry (rose mauve), and Nuance (nude mauve). Sunnies Face products make great gifts for the Gen Z (they truly love this brand). The Juicetints are available for P445 each at Sunnies Face stores. n POP MART PHONE LANYARDS. I love Pop Mart phone lanyards because they are practical and cute at the same time. They keep your phone tethered to your body, a big help when you’re traveling. There is a Pop Mart pop-up in SM Mall of Asia. A second store will open on February 14 in Makati. You can also get Pop Mart stuff from the TikTok shop. n LUXE ORGANIX FRAGRANCES. As a Watsons habitue, I discover a lot of things when I visit their stores and one of those discoveries is Luxe Organix’s line of fragrances. Disclaimer: They are mostly dupes of high-end fragrances but they’re good dupes and nothing is above P300. One of my favorites is Angel’s Dust, which reminds me of Tartine et Chocolat. Love Luna is a musky floral. These fragrances are eau de toilettes so longevity is just at 2-3 hours. I normally transfer these to small containers, which I put in my bag. Any of these fragrances would make good gifts to anyone if you are on a budget.
BDO Foundation welcomes 2025 with 4 newly rehabilitated RHUs
BDO Foundation, the corporate social responsibility arm of BDO Unibank, welcomed the new year with the turnover of four newly rehabilitated rural health units (RHUs) for the benefit of more than 96,000 Filipinos in several parts of Luzon and the Visayas.
Supporting the country’s capacity to deliver basic health services at the grassroots level, BDO Foundation rehabilitated two health facilities in Capiz, namely, Ivisan Rural Health Unit and Birthing Facility and Sapian Rural Health Unit and Birthing Clinic. The foundation also rehabilitated Peñarrubia Rural Health Unit in Abra and Pilar Rural Health Unit in Bohol. In total, BDO Foundation has rehabilitated 195 rural health units nationwide.
Guided by the local government units and their respective municipal health officers, BDO Foundation improved the interiors
and exteriors of the facilities, making the health centers more conducive to healing and wellness. In some RHUs, the foundation added areas for senior citizens, children, and breastfeeding mothers to ensure the community’s comfort when visiting the centers for their routine check-up.
BDO Foundation believes that RHUs are critical in strengthening the delivery of primary healthcare services. They are important in the community as facilities where people go to for basic health checks, regular immunization, and other primary health needs and preventive care.
“We want primary health care to be accessible and comfortable for Filipinos. We hope that our humble contribution empowers our health workers to provide better services, and helps patients receive better care,” shared BDO Foundation president Mario Deriquito.
The RHU rehabilitation program is an ongoing initiative of BDO Foundation. The foundation continues to renovate heath centers across the country, with the help of BDO Unibank and BDO Network Bank branch officers who recommend RHUs that need support.
PDRF, 2GO deliver mobile treatment plant to Mt. Kanlaon-affected communities
THE Philippine Disaster Resilience Foundation (PDRF), in partnership with 2GO, the Philippines’ leading logistics and passenger transport provider, successfully facilitated the transport of a Mobile Treatment Plant (MTP) to communities impacted by the recent Mt. Kanlaon eruption.
Deployed by the Office of Civil Defense (OCD) and delivered to several barangays in Negros Oriental, the MTP is a vital portable water purification system designed to provide clean drinking water to communities suffering from water shortages due to the disaster. This system also helps prevent potential health risks associated with water contamination and inadequate sanitation.
Leveraging its extensive logistics network, 2GO swiftly transported the MTP from Manila to Bacolod, ensuring its timely arrival for immediate deployment.
The company also provided accommodations for personnel from the Armed Forces of the Philippines (AFP), enabling them to carry out their relief operations on the ground effectively.
“This response is a strong example of how the private sector and the government can work together to deliver critical aid, especially in times of disaster. It highlights the importance of effective collaboration, leveraging the resources of both sectors to provide timely and essential support. This is not the first time we responded to Kanlaon and we sincerely
appreciate the dedication of 2GO, AFP, and OCD for their unwavering commitment and for working alongside PDRF,” PDRF Operations Center Director Arnel Capili said.
“This collaborative effort exemplifies the importance of strong partnerships between the private sector and government agencies in delivering life-saving interventions to disasteraffected areas. As such, OCD remains committed to fostering such engagements to enhance disaster response and resilience across the country,” said Susana Quiambao, OCD Response and Operations Coordination Division Chief.
As 2GO remains the only integrated solutions provider simultaneously offering both freight and sea travel services from Manila to Bacolod, the logistics company reinforces its vital role in connecting communities, especially during the facilitation of crucial relief operations connecting both regions.
“We are always ready to go and mobilize our resources to support the men and women of our armed forces as they serve our fellow Filipinos. Providing swift and reliable logistical solutions during times of crisis is part of our unwavering commitment to national service,” said Ethel Concepcion, 2GO Head of Corporate Marketing and Communications.
Through this coordinated effort, PDRF and 2GO reaffirm their steadfast commitment to disaster resilience, ensuring that affected communities receive immediate and sustainable support.
Be your own Valentine: Indulge in a shopping spree at SM Store
VALENTINE’S Day isn’t just about couples; it’s a celebration of love in all its forms, including self-love. This year, make yourself the priority and treat yourself to a well-deserved Valentine shopping spree at SM Store. Valentine’s Day is the perfect excuse to splurge on yourself. Whether it’s a stylish outfit, a new fragrance, a new piece of furniture, or a small appliance, SM Store has everything you need to elevate your look and boost your confidence.
Self-care is self-love and SM Store has a wide array of beauty and wellness products to help you look and feel your best. Indulge in skincare essentials, bath products and fragrances. A little pampering goes a long way in making you feel refreshed and radiant.
Your surroundings play a big role in your mood so why not treat yourself to home essentials that spark joy? Whether it’s cozy new linens, scented candles or stylish home décor, SM Store has the perfect pieces to create a relaxing and inviting space.
FEEL the love in the air, wear your best pair of rosetinted glasses, and romance that special someone to an endearing night of wonderful memories with Ascott Limited Philippines. With a wide network of properties nationwide, we have something for every couple: a city getaway, a romantic evening dinner, or a destination vacation.
A Valentine’s to remember in Makati
WITH unlimited things to do, plan your Valentine’s Date for a day in Makati. Walk around the robust selection of outlet malls and get the perfect gift for your special someone, as there’s guaranteed to be a little something for everyone at the heart of the city’s central business district. After perusing and picking the perfect Valentine’s gift, end the day at Ascott Makati’s incredible One-Bedroom unit for P12,000 nett per night and enjoy a romantic dinner like no other at the Mesclun Restaurant within the property for an evening that’s one to remember.
There is nothing like a good food tour amidst the vibrant neighborhood of Salcedo Village to make your stomach and heart full this February 14. Swing by Citadines Salcedo Makati, where the Citazen Insider can tell you about the best-kept secrets of the area, so you can impress your date with an incredible culinary adventure before completing your date with a staycation at the property’s OneBedroom Deluxe unit for P5,099 nett per night.
With a fantastic view of the Makati skyline, surrounded by parks and cafes, a cozy Valentine’s date awaits you and your loved one at Citadines Benavidez Makati. Take an evening stroll in the Legazpi Active Park, and then take your date to the property’s very own Catalogue Cafe and Restaurant before ending the day taking in the bustling nightlife of the city from the roof deck, sharing a complimentary glass of wine that comes with your stay at their wonderful accommodation options starting at P5,000 nett per night for the Studio Deluxe unit, available until February 16, 2025.
A toast to a romantic evening at Bonifacio Global City
FIND love in bloom when visiting the BGC area this Valentine’s. Take a romantic stroll through the artfilled streets in the area, then take in the scenery of the vibrant cityscape during a premier staycation experience at Ascott Bonifacio Global City. Starting at P10,500 nett per night for a Studio Executive unit with P1,000 dining credits for snacks to accompany an in-room movie date. Then, on February 14, don’t miss out on Scotts Restaurant’s La Nuit d’Amour. For P6,000 nett per person, celebrate an unforgettable, elegant candlelit four-course wine-pairing and dining experience accompanied by the ambiance of a live string quartet, ending with a glass of champagne to commemorate the evening.
Discover romance by the bay
WITNESS the Bay Area come to life this Valentine’s with Citadines Bay City Manila’s A Taste of Passion: a curated buffet dinner on a romantic outdoor pool deck. Enjoy a culinary showcase from the talented chef of the property’s signature restaurant, the Bay City Cafe, in each buffet station, accompanied by live acoustic music and a glass of champagne to commemorate the evening, for P2,499 nett on February 14, 2025. With so much to do around the area, from live shows and movies to shopping sprees and bar crawls, end your Valentine’s Date with a relaxing staycation starting at P6,500 nett per night in a Studio Deluxe unit, available all throughout February, complete with P1,000 dining credits to surprise your partner with a bedside breakfast the next day.
Celebrating enduring romance in Quezon City
TAKE your partner on a decadent dining experience at the Alejo Restaurant of Citadines Roces Quezon City, where a delectable steak and lobster dinner awaits on their You’re My Lobster Valentine’s event, available from February 14 to 16 that combines great food, live music, and the perfect ambiance for P1,800 nett per person. If you wish to elevate your experience further, book a room at the property starting at P7,500 nett per night for the One-Bedroom Deluxe unit. The stay comes giftwrapped with the same lobster and steak dinner for two. Create cherished memories with your loved one at Citadines Roces Quezon City this Valentine’s. Fall in love together with the serene ambiance of Alabang Bring your special someone to Somerset Alabang Manila for a tranquil getaway. Enjoy a seamless blend of the upbeat urban metropolis with the relaxing ambiance of quiet rural townships. Your perfect Valentine’s date begins at P7,500 nett per night for a Studio Deluxe unit, available until February 14. The stay includes a buffet breakfast for two and a 60-minute couple massage for a truly indulgent couples’ retreat.
A destination Valentine’s outside the Metro CELEBRATE Valentine’s in Bacolod this 2025 with unforgettable experiences. Discover the rich history and scenic spots like the Negros Museum, Lacson Ruins, and Buntang Lake Ranch. After a day of exploration, unwind at Citadines Bacolod with a romantic stay from February 14 to 16. Book a Studio Deluxe unit for P4,200 nett per night, which includes wine, chocolate pralines, a romantic dinner at Namit restaurant, and live music entertainment.
For food lovers, don’t miss the Boundless Flavors of Bugnay, a delectable three-course meal featuring Bugnay, a beloved local berry, for P2,150 nett per person. It’s available nightly from 6 pm to 12 midnight starting February 1. Make this Valentine’s a celebration to remember.
Escape to Iloilo, the city of love, this season of love, and indulge in a romantic getaway at Citadines Amigo Iloilo. Until February 28, 2025, enjoy a stay in a Studio Deluxe unit for P3,800 nett per night. Be delighted in intimate dining experiences at top local spots like Balay Remedios, Agatona 1927 Museum Cafe, Muelle Deli and Restaurant, and Manifesto.
Discover the city’s romantic side with visits to the Esplanade River Park and a
THE health centers aim to be more patient-centric and conducive to wellness.
AFP truck with the MTP at Macario Espanola Memorial School
ARAW NG BIÑAN The City of Biñan in Laguna recently celebrated its three-day “Araw ng Biñan, Isang Biñan 1580,” which commemorated its 15th cityhood anniversary (February 2), 80th Liberation Day (February 3), and 278th founding anniversary (February 4). As part of the event, the city unveiled one of its most ambitious cultural projects: the Biñan City Center for Performing Arts. The newly inaugurated 500-seat theater, located within the Biñan Cultural Center Complex, reflects the city’s commitment to nurturing local talent and preserving its vibrant arts and cultural heritage. Photo shows National Artist for Music Ryan Cayabyab and Biñan local officials Mayor Walfredo “Arman” Dimaguila, Vice Mayor Angelo “Gel” Alonte, Rep. Len Alonte-Naguiat, Councilor Dada Reyes leading the ribbon-cutting ceremony of the Biñan
A communication refresh for 2025
IMPROVING one’s communication skills is one resolution PR pros should consider worth keeping this year. While technology has given us many tools—and we’re even talking about how AI will impact us—there’s nothing like thinking back and giving it a refresh. That’s because as Bennett Kleinman writes in an article in Word Smarts, “the ability to articulate your thoughts and feelings is essential for healthy relationships and successful collaborations.”
And you’ll be surprised as he shows us to go back to basics in 6 Ways to Improve Your Communication Skills This Year.
n send handwritten thank you notes W E h ave become so used to sending digital messages that it would be refreshing to send—or receive—handwritten thank you notes.
That’s because “thank you notes are a great way to show your loved ones (and valued colleagues) how much you appreciate them.”
While you could send quick note via email, some of the personal touches may be lost, and the words may fail to convey your true feelings.
Handwritten notes on the other hand, says Kleinman, are excellent alternatives. That’s
n IABC Ph I l IPPI nes
A n d COMCO sC h O O l O f
C O MM u n I CAt IO n s l Au n C h f I r st C O MM u n I CAt IO n s Oly M PIA d MANILA, PHILIPPINES—The International Association of Business Communicators (IABC) Philippines and COMCO School of Communications are set to launch of the firstever Communications Olympiad in the Philippines. This pioneering initiative is set to elevate the standards of communication education by equipping collegiate students with practical, real-world skills through an immersive learning experience and competition.
The Communications Olympiad is a nationwide communications training program for collegiate students taking up Mass Communication, Communication Arts, Public Relations, Advertising, Marketing, Marketing Communications, Journalism, Broadcast Communication, Communications Research, Development Communication, Digital Marketing, and other related disciplines. Through a partnership between COMCO School of Communications and IABC Philippines, the Olympiad will hone the next generation of communication professionals by challenging them with real-world applications of strategic storytelling, advocacy, and brand
communication.
This year’s Olympiad revolves around the theme: Rewrite Climate Change. The focus is not on developing scientific solutions but on reshaping the narrative and practices surrounding climate change through effective communication. Participants are called to inform, educate, and inspire, emphasizing the role of storytelling and advocacy in driving awareness, shifting behaviors, and fostering collective action.
As a country at the frontline of climate change impacts yet contributing minimally to global emissions, the Philippines plays a crucial role in shaping this narrative. The Olympiad challenges students to develop communication strategies that can be adopted on a realistic scale, driving action and influence where it matters most.
The Olympiad unfolds in three key phases: the Qualifier Phase, the Elimination Round, and the Grand Championship.
Qualifier Phase: Universities will nominate one team of five students, each taking on specialized roles: project leader, writer, designer, researcher, and lead presenter. Teams must submit a position paper and entry form through www.comcomundo. com/the-communications-olympiad/ by March 14, 2025. A panel of experts will evaluate entries, selecting 30 teams to move forward.
Elimination Round: The top 30 teams will undergo exclusive training sessions on best practices in communication, the role of communication in environmental conservation, and innovations in
because “writing a note by hand takes time, so you can really ruminate on the positive sentiments you want to convey. Say goodbye to impersonal emails and start to communicate your gratitude on paper.”
n use salutations on emails S A LUTATIONS l ike “Dear” or “Greetings” can establish “positivity and camaraderie, whereas going straight into the message may come off as curt or rude,” says Kleinman.
And don’t forget closing an email with “Best regards,” or “Thank you for your time” which are easy ways of communicating respect and friendship.
n talk Over the Phone F OR a ll its benefits, “texting can be impersonal.” All those emojis and acronyms are handy shortcuts, “but can fall short of in expressing a complex sentiment.”
Instead, “if you need to talk to someone about something important pick up the phone and give them a call instead.” If you don’t want to appear intrusive, send a prior “please let me know when it’s a good time to call” message beforehand.
Advise from Kleinman: “Having regular phone conversations keeps your communication skills honed in a way that texting doesn’t. While you can let a text it for hours before responding,
strategic storytelling. Following this, teams will be given 24 hours to develop a 10-slide communications plan, which will determine the 15 finalists proceeding to the Grand Championship.
Grand Championship: The final 15 teams will compete for category medals, with the top three finalists presenting their communication plans before an esteemed jury. One team will emerge as the first-ever Communications Olympiad Grand Champion, with the first and second runners-up also receiving major recognition. Apart from prestigious trophies and prizes, winners will earn the honor of bringing home distinction for their academic institutions.
IABC Philippines and COMCO School of Communications invite companies, brands, media outlets and student organizations to be part of this initiative through sponsorship and partnership opportunities. Companies and brands can participate as a co-presenter or sponsors while media groups and student organizations can join as partners of the program. For more details, interested parties can email communicationsolympiad@comcomundo.com.
Ferdinand L. Bondoy, Corporate Secretary and Lead for Youth and Education of IABC Philippines as well as Group Chief Executive Director and Overall Lead for Strategic Communications / Partner and Co-Founder of COMCO Mundo shared, “The Communications Olympiad drives the power of Meaningful Storytelling in facing head-on real-world issues on climate change. With COMCO’s
phone calls require quick responses that keep you sharp.”
Phone conversations are more personal, so it’s good to forgo those winky faces and lolos and start talking over the phone.
n widen your vocabulary by subscribing to word daily WORDS a re at the core of every communicator’s playbook. To make your conversations and write-ups more exciting, Kleinman suggests subscribing to Word Daily, a sister publication of Word Smarts.
By delivering a new word right into your email inbox each day, it’s an effective and convenient tool for broadening your vocabulary. With this, “you’ll instantly start to broaden your lexicographical knowledge that make your sentences more interesting.”
The best part is that the subscription is free.
expertise in communication training and education fueled with grit and excellence together with IABC Philippines’ strong support in the promotion of sustainability, we aim to make this a very productive learning journey not only for the students but for the industry and relevant stakeholders as well, which can help propel action for the environment.”
Belle Tiongco, President of IABC Philippines and Vice President and Co-Founder of Football for Humanity, meanwhile said, “At IABC Philippines, we believe that effective communication has the power to drive real change. In line with the organization’s focus on sustainability as demonstrated by last year’s Triple P Awards, IABC is now embarking on a new chapter, together with COMCO School of Communications, combining both thrusts on education and advocacy, which is The Communications Olympiad. We aim to achieve bigger social impact by putting sustainability as one of our stepping stones for development.”
To know more about The Communications Olympiad, please visit www.comcomundo.com/the-communications-olympiad/ and follow us at www.facebook.com/communicationsolympiad on Facebook and w ww. linkedin.com/company/the-communications-olympiad on LinkedIn. n VCCP
the
NEW YORK CITY, USA—Creative agency VCCP published the report “Cracking the Memory Code: Super
n Journal A DAILY j ournal is a powerful tool for articulating and processing your feelings. It increases your power of self-expression.
“Putting your thoughts down on paper each day is almost a rehearsal for the real world; the more you can understand your own perspective, the easier it will be to grasp the perspectives of other people.”
Likewise, “a journal also gives you a space to flesh out your thoughts in writing before you weave them into a future conversation with someone else.”
n take a Public speaking Course P U BLIC s peaking gives us so much confidence—which is a critical skill in leading any conversation. It teaches us to be concise and express our viewpoints in the most effective means possible.
Bowl Edition”, exploring the science of memorability and advertising in the Super Bowl Ads from the past decade. With Super Bowl LIX nearing, data show that advertising in 2025 for the annual sporting event has reached record-breaking heights, costing up to $8 million for just 30 seconds of viewer attention.
The study examined the most memorable Super Bowl ads in the past years and dived into the key levers of memory used by advertising agencies to launch memorable ads.
Created in partnership with leading behavioral science consultancy, Cowry Consulting, Cracking the Memory Code: Super Bowl Edition tested 1000 people to see which Super Bowl ads in the past ten years they remember; whether they could name the brand in the ad; and what it is that they could recall from the ad.
VCCP and Cowry Consulting tested the ads using two scientific techniques for memory encoding—a recognition and recall test to understand how embedded the ads are in people’s memories and an implicit response test to understand the complexity of emotional responses to the ads.
The report found the following as the most memorable Super Bowl ads from the past decade:
“The Super Bowl is the biggest night in advertising with more than 123 million people tuning in to not only watch the big game with excitement, but to watch the commercials as well. It’s a massive opportunity but also a massive investment for brands. With this report, we wanted to give marketers some
Kleinman adds that “they can teach you how to analyze a person’s body language before talking—gestures that often say more than words could.”
Enrolling in a public speaking course provides communicators with a plethora of benefits.
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. Millie Dizon, the Senior Vice President for Marketing and Communications of SM, is the former local chair.
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.
insight into the science behind how memory works, as well as some of the levers of memory that they can use to increase their share of mind,” VCCP US Head of Strategy Martin Coomber said.
Cracking the Memory Code: Super Bowl Edition is a continuation of VCCP’s report from 2024 Cracking the Memory Code which looked at the science of memory and how marketers can ensure their brands are remembered, how to get their brand noticed in the first place, and more importantly, how to ensure brands are recalled at the shelf, search engine and till. The report revealed how memories are formed, the levers of memory, and what it means for marketers looking to increase their share of mind.
These key levers of memory that were found to help make an ad memorable include humor, characters, emotion, sonic devices, and surprise.
Meanwhile, Cowry Consulting MD Raphy March emphasized that understanding the intricacies of how memories are formed allowed them to craft marketing strategies that not only capture attention but also endure in the minds of consumers.
“This method is a first for how we test ads. The research highlights the importance of consistency, emotional engagement, and creating distinctive brand worlds. By leveraging these insights, brands can significantly enhance their memorability and ensure their messages resonate long after the initial exposure,” Raphy added.
Senior play kicks off PAL Interclub in Bacolod City
SENIOR play takes the lid off of the 76th edition of the Philippine Airlines (PAL) Interclub on Monday with the Championship division playing the tree-lined Marapara on the first and last rounds and Binitin in the middle two with lift-clean-and-place in effect because of rains in Bacolod City the past few days.
And this comes as no surprise to Luisita non-playing skipper Jeric Hechanova—with Marapara the more difficult course owing to its length and trickiness—that’s why the team has a plan of playing its long hitters in the first and final rounds.
“I have no choice but to play my longer [hitting] guys at Marapara,” Hechanova said while refusing to say which of his players he has told of this ploy. “The length of the course will just demand a lot from the players, while the Binitin now is a thinking man’s course.”
Del Monte will be defending its maiden Senior crown and Hechanova believes that the Bukidnon club is still the team to beat—with the Del Monte course in Bukidnon playing slightly similar to Marapara.
“And they have an intact line-up,” Hechanova said. “So there’s no doubt that they are the favorites.” Del Monte ran away with its breakthrough title last year in Cagayan de Oro, winning by 17 points over Canlubang.
The Yoyong Velez-skippered squad took an 18-point lead into last year’s final round and was never threatened, and that’s something that Hechanova feels will be key again this year.
“If we are going to contend for the title, we need to have a sizeable lead going into the final day at Marapara,” he said. “Otherwise, catching up on this course will be very hard to do in the final round.” Canlubang is the third team seen as a force for the title.
Led by Abe Rosal, the Sugar Barons have the secondmost number of titles in the 55-years-old and above category after the Luisitans.
“It’s a very wide-open tournament from where I see it,” Rosal said. “It’s such a balanced tournament that I see that team making the least mistakes as the team that wins it.”
Men’s action will follow next week starting Tuesday, with Manila Southwoods seeking another “four-peat” with a team built around hotshots Shinichi Suzuki and reigning Philippine amateur champion Zeus Sara and ex-pro Jerome Delariarte.
Bambol meets Dave in wintry cold Harbin
BRAHAM “BAMBOL”
ATOLENTINO and David Lappartient—both presidents of their respective national Olympic committee (NOC) and cycling federation—met in Harbin on Friday and discussed significant topics bordering on their sport and the International Olympic Committee (IOC).
“From a casual conversation— hellos and how are you?—to the more significant topics concerning cycling and the forthcoming IOC presidential elections,” said Tolentino, president of both the Philippine Olympic Committee and PhilCycling, from China during the opening ceremony of
Ladies Masters at TCC gives me thrills–Dottie
the Harbin Ninth Asian Winter Games.
As an active national federation of the UCI [International Cycling Union, which Lappartient heads as president], Dave [Lappartient] conscientiously asked about cycling in the Philippines and expressed full support to our track program,” Tolentino said. “He was just too happy to learn that an indoor UCIstandard velodrome in Tagaytay City will be operational in a few months.”
A velodrome is being built in Tagaytay City, where Tolentino is the mayor, and is expected to be operational by the middle of the year—the facility replaces the concrete and outdoor Amoranto Velodrome which the Quezon
B8 Monday, FeBruary 10, 2025 mirror_sports@yahoo.com.ph
DOTTIE ARDINA is eager to showcase her game on a course that has been a familiar battleground since her amateur days— now that she has more experience and knowledge on how to prepare for a competition.
“I’ve been practicing and working on my swing. I don’t really expect anything, but the goal is always to win and do my best,” said Ardina, exuding determination and humility ahead of the International Container Terminal Services Inc. (ICTSI) Worldwide Link Philippine Ladies Masters at The Country Club in Santa Rosa, Laguna.
The $200,000 tournament, a collaboration between the Korean and Taiwan Ladies Professional Golf Association (LPGA) and the Ladies Philippine Golf Tour (LPGT), starts Wednesday featuring a stellar lineup of top players from all three tours.
For Ardina, holding the tournament in a competitive setting at the TCC also brings a new level of excitement.
“It’s very exciting to play TCC again in tournament mode, not just in practice,” she said while emphasizing her eagerness to navigate the course under pressure.
The traditional 18-hole pro-am, meanwhile, will be played Monday by a select group of professionals paired with sponsors’ officials and guests.
Ardina, an LPGA and Epson Tour campaigner, acknowledges the significance of the event, especially with the Korean
LPGA Tour players joining the field.
“It’s great to host these international players. I’m excited to see how they will perform at the TCC, given its exacting challenge,” added the Paris Olympics veteran and one of the many ICTSIbacked players.
With Koreans dominating the LPGA, Ardina believes their participation elevates the competition.
“The Korean LPGA Tour coming here to play is a good motivation for our local players and other Asian players. Next week will definitely feel like playing in the world’s premier circuit,” she said. The Korean contingent is composed of last week’s Indonesian Open champion Hwang Yoona, Cho Jeongmin, Song Gae-un, Sohn Yebeen, Park Ye-Ji, and Yoo Dagyeom.
The TLPGA lineup boasts of world No. 4 Li Ning Wang, Chen Chih Min, Ching Huang, Chang Hsuan Ping and Chang Yi Han and adding to the international depth is a strong Thailand delegation of
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includes Princess
local
City government reportedly intends to demolish to give way to a football field.
“Dave also got serious about the IOC elections in March, stressing on his program for the world’s top sporting organization,” Tolentino said.
L appartient, who heads France’s NOC, is one of seven candidates vying for the position that Thomas Bach will vacate after 12 years—the election is on March 21 in Olympia, Greece.
“ We’re hoping and praying for Dave to win that election, and I personally believe he’s the most capable to lead the Olympic movement,” Tolentino said.
L appartient traces his serious involvement with cycling to the
Philippines when in 1995, he was a young member of the commissaires panel that supervised the country’s hosting of the Asian road and track championships at Amoranto and Subic.
H e flew into Harbin from Bangkok where he witnessed the elections of the Asian Cycling Confederation last Thursday.
The quick brown fox jumps over the lazy dog near
Go’s commitment extends beyond sports arena
SENATOR Christopher “Bong” Go’s commitment to nurturing Filipino talent extends beyond professional arenas to the vibrant courts and fields of municipalities across the country.
As chair of both the Senate Committees on Youth and on Sports, Go has provided vital support to grassroots sports events, creating opportunities for young athletes to discover their potential while fostering community spirit. One example of Go’s grassroots sports support was seen in the Municipality of Naval in Biliran during
its annual fiesta celebration in honor of Nuestra Señora Birhen del Rosario. The town hosted a basketball league as part of its month-long festivities as the games ran from September to October 2024.
Following a request from Mayor Gretchen Stephanie Espina, Go extended support to ensure the successful conduct of the tournament, which brought together teams from neighboring municipalities. In New Bataan in Davao de Oro, Mayor Geraldford Balbin sought financial assistance to improve the town’s sports
facilities and provide essential equipment for various athletic activities.
The request covered funding for basketballs, volleyball nets, a digital scoreboard, footballs, table tennis sets, chess boards and a sound system to support local tournaments.
Similarly, in Paete, Laguna, the local government, led by Mayor Ronald Cosico, organized basketball and volleyball leagues from March to April 2024 as part of the town’s psychosocial development initiatives.
A s a fourth-class municipality
Galedo flashes vintage form in bagging silver in Thailand
AT 39, cycling doesn’t stop—and so thus clinching a medal—for Mark John Lexer Galedo who clinched silver in the Masters 40-44 years old category of individual time trial (ITT) on Saturday at the Asian Cycling Confederation Road Championships in Phitnasulok, Thailand. Galedo clocked 28 minutes and 25.2 seconds in the 21-km race won by Thailand’s
Myanmar 2013 Southeast Asian Games. Thailand’s Kritsana Keawjun clinched the bronze medal behind Galedo, in the Masters races where another Filipino, Roderic Calla was sixth in the 45-49 years old group.
A Special Citation awardee at the recent Philippine Sportswriters Association-San Miguel Corp. Annual Awards, Galedo has retired as an elite rider in 2024 and was classified in the 40-44 category in Phitnasulok based on his year of birth.
“I’m so happy for this victory and so inspired to see our flag being raised here,” said Galedo, who’s now one of the coaches a 21-cyclist national team competing in the championships through the PhilCycling, Philippine Sports Commission and the MVP Sports Foundation.
“Thank you to the PSC, POC [Philippine Olympic Committee] and PhilCycling president [Abraham] Bambol Tolentino, to 7Eleven Roadbike Philippines, to my family for the opportunity to compete here,” he said.
heavily reliant on national funding, Paete sought financial assistance to sustain its sports programs.
In A suncion, Davao del Norte, the municipal government under Mayor Eufracio Dayaday Jr. prepared for a grand sports event as part of the town’s 76th Founding Anniversary last year.
T he municipal-wide competition featured basketball and volleyball tournaments for various age brackets, including teams for Persons with Disabilities and the LGBTQ+ community.
PHL curling ladies in contention
By Josef Ramos
HARBIN, China—Kathleen
Dubberstein, Leilani
Sumbillo, Sheila Mariano and Anne Bonache
of the Philippines upset Hong Kong, 7-2, in the preliminaries of the women’s curling competition on Sunday in the 9th Asian Winter Games at the Harbin Pingfang Curling Arena.
Victory by world No. 46 Philippine team, which has Jennifer dela Fuente as alternate, over No. 31 Hong Kong was a huge boost, Dubberstein noted.
Filipino-American Dubberstein is determined to claim a podium spot after ending up fourth in the mixed doubles with Marc Pfister with a 5-6 loss to world No. 15 China in a tight battle for the bronze.
“I t was a good start. We just have to sustain it in our succeeding matches,” the 30-year-old from Wisconsin said. “There are still more games to be played in the round robin. So we must be ready.”
The Philippines held Hong Kong scoreless in the first four ends for a 6-0 lead and never looked back. The Filipinas next face Qatar. The 51st-ranked Philippine men’s
the 2024-25 NBA crown? With no LeBron James and Doncic not yet in uniform, LA defeated the Indiana Pacers, 124-117, to go to 31-19; good for fourth in the Western Conference. Ahead of the Lakers are the pace-setting Oklahoma City Thunder (42-9) who are led by Shai Gilgeous-Alexander, Aaron Wiggins, Jalen Williams and Alex Caruso. The dangerous 35-17 Memphis Grizzlies are second and have the all-worlder Ja Morant, Jaren Jackson and Desmond Bane. The 34-19 Denver Nuggets have Nikola Jokic, Jamal Murray, Michael Porter Jr. Christian Braun and Russell Westbrook. How have the Lakers fared against the top three? They lost to Oklahoma, 103-91, at home and play the Thunder in back to back away games on April 6 and 8. L A has two wins in three games versus Memphis this campaign. They opened their campaign against Memphis with a
with
the arrival of Magic Johnson in 1980. H aving said that, could Doncic lead Los Angeles to
team, however, suffered a 1-6 defeat to No. 7 South Korea in the men’s Group A round-robin.
In
two squads face off one last time in the regular season when LA comes calling in Memphis this March 29. In their lone meeting with Denver thus far, the Lakers were blown off the court, 127-102, and it was at home. Los Angeles hopes to return the favor this coming February 22 at Denver.
