THE upcoming elections could delay the passage of key tax reform measures crucial for the Bureau of Internal Revenue (BIR) to hit its P3.2-trillion tentative target collection this year.
Speaking to reporters on the sidelines of the International Tobacco Summit, Internal Revenue Commissioner Romeo D. Lumagui Jr. said that while the BIR could again reach its higher target this year, uncertainties remain due to the upcoming elections, which may stall tax
reform efforts.
“Assuming that everything will be passed, I think that’s why I’m very optimistic that we’ll be able to do a very historic year this year,” Lumagui said.
The BIR is expected to collect P3.232 trillion this year, assumed by the economic managers, based on the state’s budget documents.
This comes after the BIR declared a feat in its collections in 2024, hitting the lofty P2.848trillion revenue goal.
Although Lumagui sees the BIR post a “back-to-back” victory in reaching its revenue targets this year, economic managers should also take into
account the pending tax measures.
“It’s fair to have the goal to be adjusted if that doesn’t happen,” Lumagui said, because the tax measures were taken into account in formulating the revenue target. “So, for us, if it’s like that, it’s not right.”
“Hopefully it will be passed because it’s a big help for us and we want to achieve that collection target for 2025,” the BIR chief added.
Apart from the passage of tax measures, the BIR expects the withholding tax on online transactions through electronic marketplaces and digital financial service providers
to shore up tax collections this year.
“Our aim here is to capture the entire digital transactions because there are trillions of transactions online,” Lumagui said.
Aside from all of these, the BIR is also faced with the rampant illicit trade of tobacco and vape products, causing the agency to miss its excise tax target on tobacco further last year.
Lumagui said the BIR is receptive to the moratorium on the annual increase of tobacco tax rates, along with stricter enforcement, to fight illicit trade.
INDUSTRY GROUPS PIN HOPES ON U.S. GSP, FTA
By Andrea E. San Juan @andreasanjuan
PHILIPPINE
exporters of hard goods and garments are hoping for the reauthorization of the United States’ Generalized Scheme of Preference (GSP) and the start of negotiations for a free trade agreement (FTA) with the US to increase their export revenues to the US, according to the Foreign Buyers Association of the Philippines (Fobap).
By Ada Pelonia @adapelonia
T
HE Philippine Egg Board Association (PEBA) assured the public of sufficient egg supply for the year amid concerns about a possible shortage of the cheapest protein source.
This, after Agriculture Secretary Francisco Tiu Laurel Jr. recently said the agency forecasts a potential shortage of eggs by April due to an overproduction last year that dragged down farmgate prices to as low as P4 per piece and pushed producers to cull their chickens to offset losses.
“We don’t project a shortage [of eggs]. On the contrary, we proj-
ect an oversupply this year,” PEBA President Francis Uyehara told reporters in an interview on Friday.
Uyehara explained that while producers did incur losses during the summer of last year, they started to repopulate after a price hike in eggs was seen from June to September.
“Because prices rose during those months, our industry friends started to repopulate...So, in November [and] December the prices of eggs started to stabilize,” he said, speaking partly in Filipino.
However, Uyehara noted the eroding demand for eggs following the holiday season, which left a huge supply from last month.
“Because demand significantly
declined for table eggs [after new year], the supply of eggs remained high coming from December.”
Despite this, Uyehara mentioned that the country’s egg supply could be compromised if there were massive local outbreaks of avian influenza (AI), stressing the need to fast-track the availability of bird flu vaccines.
“For this year, we don’t see a shortage of table eggs unless we experience local massive outbreaks of bird flu, which we don’t have now,” he said.
“That’s why it’s important to us, that for the layer industry, that availability of the AI vaccine...is ensured; that’s our security.”
The agency recently said that the
long-awaited bird flu vaccines are expected to hurdle field trials by the end of March this year.
Agriculture Assistant Secretary Arnel de Mesa said the trial results for AI vaccines would be presented to the Bureau of Animal Industry (BAI) through the Veterinary Technical Advisory Committee (VTAC), which would then be endorsed to the Food and Drug Administration (FDA).
“By the end of this quarter, the two trials would be concluded and then the application for approval will be sent to the FDA,” de Mesa said. He noted that the vaccines undergoing field trials came
decline,” Remolona added. Earlier, the governor said the central bank is cutting in “baby steps” and not keen on making aggressive policy rate reductions this year.
and how to provide them better opportunities once they return home to the Philippines.
At the GLMC, Cacdac highlighted the efforts of the Marcos administration to provide quality employment opportunities, particularly for the youth.
During the conference, he reported that thousands of youth were able to transition to formal employment through government programs such as the Government Internship Program and JobStart Philippines.
“These initiatives collectively assisted 220,000 beneficiaries and transitioned them for formal employment. Our government training agency has also organized initiatives to directly align with the industry needs in integrating advanced technologies and in fostering skills for emerging industries,” Cacdac added.
He said the Philippine government has also signed bilateral labor agreements with other countries such as the Kingdom of Saudi Arabia, Kuwait, Qatar, Canada, Japan, and South Korea to provide Filipino workers better working conditions abroad.
The BLAs, he said, will ensure Filipino workers have a safe, ethical, and transparent labor mobility. Samuel P. Medenilla
Rightsizing bill’s OK in 19th Congress spells big savings
By Jovee Marie N. Dela Cruz
ASENIOR
lawmaker said “trimming the fat” through the passage of the government rightsizing bill before the end of the 19th Congress will eliminate overlapping functions, enhance government efficiency, and generate billions in annual savings that can be redirected to essential programs, activities, and projects.
Saying reducing redundancies within the bureaucracy is a necessary reform, Camarines Sur LRay Villafuerte called on the Senate to pass the proposed The National Government Rightsizing Act.
“I believe the chances are on the side of champions of the long-sought government rightsizing for the outgoing Congress to pass this proposal in the nick of time, following Senate President [SP] Chiz [Escudero]’s commitment for the Senate to pass its version of this measure before we
adjourn sine die in June,” said Villafuerte, an author of the House Bill (HB) 7240, or the National Government Rightsizing Act.
“Once the Senate finalizes its version, both chambers will only need to reconcile their bills through the bicameral conference committee, given that the House already approved HB 7240 on third and final reading in March 2023,” he explained.
“Trimming the fat off our outsized bureaucracy, which should have already happened years back, is excel-
lent policy as it is the only means to eliminate redundancies in functions and the workforce, lead to a more efficient or dynamic administration, and mean multibillion-peso worth of annual savings that the government can otherwise spend on essential PAPs [Programs, Activities, and Projects],” Villafuerte said.
The 19th Congress is set to adjourn this week for the May 12 polls, with sessions resuming on June 2 until the sine die adjournment on June 14.
Villafuerte gave assurances that separation and retirement benefits will be available to affected government workers. However, teachers, healthcare providers, soldiers, and other uniformed personnel will be exempted from the streamlining process.
President Ferdinand Marcos Jr. endorsed the National Government Rightsizing Program (NGRP) in his first State of the
Nation Address (SONA) in July 2022. The program aims to enhance government efficiency while optimizing resource allocation.
Villafuerte said the rightsizing process will be implemented over three years and will provide retirement and separation incentives for affected employees. HB 7240 allows Congress, the Judiciary, state universities and colleges (SUCs), the Office of the Ombudsman, Constitutional Commissions, and local government units (LGUs) to adopt their own rightsizing plans. The measure also makes rightsizing optional for government-owned and -controlled corporations (GOCCs) under the Governance Commission for GOCCs (GCG).
The House-approved HB 7240 consolidates 16 measures, including HB 4015, co-authored by Villafuerte, CamSur Representatives Miguel Luis Villafuerte and Tsuyoshi Anthony Horibata, and the Bicol Saro party list.
Commission due to ‘insufficient injury evidence,’ the effort highlighted systemic vulnerabilities,” said PPMA.
will with precision—protecting jobs, attracting P50 billion in EV investments, and ensuring Filipino-made parts power the next generation of vehicles,” Raquelsantos said.
The industry group emphasized that “the clock is ticking,” adding, “With regional rivals accelerating and Filipino livelihoods at stake, PPMA challenges the government to transform the lessons of 2021 into action.”
According to the industry group, the automotive parts manufacturing sector in the Philippines sustains 220,000 Filipino jobs and generates P150 billion annually for the economy.
PPMA noted that despite the DTI’s “bold but unsuccessful” 2021 safeguard measures, imports now occupy 65 percent of the domestic market, pushing 15 percent of local suppliers toward “collapse.”
In 2021, DTI issued provisional duties targeting a 35-percent year-on-year import surge, including P72 billion in automotive parts that “crippled” local producers, PPMA said.
“Though rejected by the Tariff
Raquelsantos explained that “The Intent was right, but the execution lacked teeth. Today, imports have swelled to P98 billion and local production of engines and transmissions has dropped by 15 percent,” adding, “We cannot repeat half-hearted measures.”
In a statement on January 31, PPMA urged the government to adopt a local content requirement (LCR) policy, patterned after Indonesia’s model, to revive the country’s “struggling” automotive industry.
Raquelsantos emphasized that such a policy could strengthen domestic manufacturing, create jobs, and position the Philippines as a competitive player in the Asean automotive market.
“Indonesia’s local content policy has been a game-changer for its automotive sector. By requiring automakers to source a significant percentage of components locally, they’ve built a robust supply chain and attracted major global players. The Philippines can achieve similar success if we take decisive action now,” added Raquelsantos. Andrea E. San Juan
200-bps RRR cut
brought down key policy rates by a total of 75 basis points, delivered in 25 bps increments, placing interest rates at 5.75 percent.
The BSP projects inflation in January to settle at 2.5 percent and 3.3 percent—within the 2 to 4 percent target range—ahead of the data release on February 5. Consumer prices rose to 2.9 percent in December 2024 and 2.8 percent in January 2024. Meanwhile, full-year inflation was at 3.2 percent in 2024. After the economy underperformed in the last quarter of 2024 with a 5.2-percent growth, it failed to meet its revised growth target of 6 to 6.5 percent.
“We’re still figuring out why the number came out lower than expected,” Remolona said.
Remolona said the performance of the Philippine economy remains a major consideration in deciding monetary policy. (See: https://businessmirror.com. ph/2025/02/01/bsp-ratecut-on-the-table-at-february13-meet/).
In garments, [export sales] could go even lower because we [can no longer] supply the buyers with the quantity due to prices. Everybody is in a waiting game because of [leadership of new US President Donald] Trump,” Young said in a statement issued by the Philippine Exporters Confederation, Inc. (Philexport) over the weekend.
Young, who is also the trustee for the Textile, Yarn and Fabric sector of Philexport, said that with the revival of the US trade preference program, export revenues can increase 5 percent to 10 percent this year, especially from hard goods.
The Philippines was a beneficiary of the US GSP allowing the duty-free entry of over 3,000 products into the US market.
The GSP program expired on Dec. 31, 2020, and the US Congress may deliberate whether or not to reauthorize the program.
Meanwhile, Young expressed optimism on prospects of a PhilippinesUS free trade deal.
“That’s [FTA] for us [a] long shot. I don’t know if the free trade agreement can be granted by the Trump administration although our DTI [Department of Trade and Industry] is strongly lobbying right now. DTI Undersecretary Ceferino Rodolfo already announced that they are trying very, very hard [pushing for the bilateral FTA] so that is good news because you know, the orders are there,” Young said.
The head of the industry group said people are buying again after the pandemic, adding that there is demand for hard goods so.
“People are now buying again after the pandemic; the demand is there now. I’m talking about the hard goods so we are concentrating on those goods,” he added.
Young said the US now accounts for 90 percent of the country’s total exports of hard goods and garments, while Asean and the European Union comprise only 10 percent.
Meanwhile, Young bared they have received new orders for hard goods worth $2 million from top furniture and houseware retail stores in America and Europe.
These goods include bread baskets, hampers, fruit baskets and housewares made from vegetable fibers like the abaca, sinamay and tikog (native reed).
“Most of the products that are coming from the more advanced countries are made of synthetic [materials] so more buyers still prefer natural fibers like abaca for their tableware [for example],” he said. To cater to the demands of orders placed by international buyers, Young said Fobap and Philexport have tapped producers of indigenous fibers for these hard goods in Eastern Visayas and will provide training for product quality specifications to enable them qualify as exporter suppliers.
MEANWHILE , Remolona said Monetary Board members are also discussing the possibility of lowering the reserve requirement ratio (RRR) for big banks to free up more funds to lend and stimulate the economy.
The RRR could be slashed by 200 bps to 5 percent, probably in the middle of the year, either June or July.
“The good thing about the reserve requirement is that it affects both the deposit rate and the lending rate because it sits in between. So, if the reserve requirement is reduced, it should slightly raise the deposit rate while lowering loan rates,” Remolona added. Remolona said the weak economic growth is not the only reason for lowering the banks’ RRR.
“We’re still figuring out why the number came out lower than expected.”
The BSP reduced the RRR of big banks and nonbank financial institutions by 250 bps to 7 percent last year.
The RRR for digital banks was also cut by 200 bps to 4 percent while for thrift banks, a 100-bps brought its RRR to 1 percent.
“This way, we can solve the skill gap and the [product] quality problem, craftsmanship problem and at the same time, it will somehow ease up our demand for supplies of these products,” he said, adding that the possible livelihood training program can benefit around 250 weavers. Young said the planned livelihood training program, which is targeted to start late February or March, has the support of House Speaker Martin Romualdez and Tingog Party-list Rep. Yedda Romualdez.
Reine Juvierre S. Alberto from companies in Hungary and Germany. Laurel said that if the vaccine comes out in March, the agency would allot P300 million which could procure 30 million doses. Industry groups have been lobbying for bird flu vaccines given their international availability which were proven effective against the transboundary animal disease. Retail prices of medium white eggs ranged from P7 to P9 per piece, based on the latest government price monitoring report.
Comelec wants more spacious voting areas for May elections
HE Commission on Elec -
Ttions (Comelec) announced its plans to use larger public spaces for the May elections to provide a more comfortable voting experience for vulnerable sectors.
In an interview on Saturday, Comelec Chairman George Erwin
M. Garcia said voters can have a “greater voting experience” if they don’t need to endure long lines and overcrowding in small public elementary schools, which traditionally serve as polling centers.
“If there are other public spaces within the barangay, such as gymnasiums, why not use them?
Comelec is allowed to utilize these facilities, so we should take advantage of them,” he said, partly in Filipino.
Garcia also stressed the need to ensure a smooth voting experience for all, not just in terms of the actual voting process but also the overall comfort of voters before and after casting their ballots.
He said no voter should be disfranchised owing to accessibility issues.
While emergency accessible polling places are available in every precinct, Garcia acknowledged
that not all facilities are friendly to persons with disabilities (PWDs) and senior citizens.
Some venues only have stairs with narrow pathways that usually cannot accommodate wheelchairs.
“When we say we are friendly to vulnerable sectors, shouldn’t that mean ensuring ease of voting— both in terms of facilities and the time they spend inside the polling precinct?” he asked.
Beyond selecting more spacious polling places, Comelec is implementing additional measures to make the May 12 elections more accessible and inclusive.
Among these initiatives are the standardization of mall voting and the introduction of early voting hours (5:00 to 7:00 A.M.) for PWDs, senior citizens, and pregnant women. Currently, over 70 malls nationwide are set to serve as alternative polling centers.
The poll body also announced that the Comelec Precinct Finder—an online platform that allows voters to check their assigned precinct—will be made available to the public by the end of April. Justine Xyrah Garcia
Mobilize parents, local govts to curb teen pregnancies, HIV–Gatchalian
By Butch Fernandez @butchfBM
SEN. Sherwin Gatchalian has been seeking the active involvement of parents and local governments to curb the incidence of teenage pregnancies and human immunodeficiency virus (HIV) infections nationwide.
Gatchalian’s call entails the full and effective implementation of the Parent Effectiveness Service (PES) Program Act (Republic Act 11908), which he authored and co-sponsored.
In a hearing on the Department of Education’s (DepEd) implementation of comprehensive sexuality education (CSE), Gatchalian emphasized that parents should take the lead in instilling responsible behavior among adolescents to protect them from the consequences of risky behaviors.
While pregnancies among adolescents aged 15 to 19 have been declining, data from the Philippine Statistics Authority (PSA) shows an increase in pregnancies among very young adolescents aged 10-14. From 1,629 in 2013, pregnancies among very young adolescents more than doubled to 3,342 in 2023.
What is even more alarming, Gatchalian said, is the Department of Health (DOH) data showing the average number of newly reported HIV cases per month rising to 1,470 in the first half of 2023. Among the total reported
cases of HIV, 34,415 (29 percent) were among the youth aged 15-24.
“We have to also focus on getting the parents more involved, not just by meeting them regularly but by really mobilizing them,” said Gatchalian.
“I really believe that mobilizing the parents is another way of curbing teenage pregnancies. When we mobilize the parents, we make them aware of these issues, and empower them by educating them on how to talk to their kids,” Gatchalian added.
To operationalize the PES Program Act effectively, Gatchalian emphasized the importance of collaboration between the Department of Social Welfare and Development (DSWD) and the DepEd in engaging Parent-Teacher Associations (PTA). The lawmaker suggested that the DSWD coordinate with the PTAs to help distribute the modules developed under the PES program. The DSWD is the lead agency in the implementation of the PES Program.
The law establishes the PES Parent Effectiveness Service (PES) Program to assist all parents and parent-substitutes, and strengthen their knowledge and skills in fulfilling their parental duties and responsibilities. It also aims to protect and promote children’s rights, foster positive early childhood development, and advance their educational progress. Under the law, the PES program shall be implemented in every city and municipality.
Caap probes NE chopper crash
TBy Nonie Reyes
HE Civil Aviation Authority of the Philippines (CAAP) is investigating the crash of a helicopter that claimed the life of a female pilot in Guimba, Nueva Ecija.
Caap spokesman Eric Apolonio said the initial reports indicate that the helicopter with registry number RP-C3424 and operated by Lion Air Incorporated departed Manila at 10:22 a.m. on February 1, 2025 for Baguio City, where it dropped off a passenger. It then took off from Baguio at 11:51 a.m. for Binalonan, Pangasinan, where it landed for
CBCP urges clerical abuse survivors to come forward
By Justine Xyrah Garcia
THE Catholic Bishops’ Conference of the Philippines (CBCP) has urged victims of clerical abuse to come forward, assuring the public that both the Vatican and the Philippine Church are committed to making Church institutions safe spaces—especially for minors and vulnerable adults.
In a statement, the CBCP president, Cardinal Pablo Virgilio David, encouraged victims to speak out as the Church will not tolerate
any form of abuse.
“Please don’t hesitate to file complaints against abusive clerics, whether in civil or Church fo -
rums. Pope Francis has been more decisive in his moves to impose disciplinary action on us bishops if he finds evidence that we’re not even lifting a finger to discipline our erring priests,” David said.
He noted that initiatives aimed at promoting accountability are “welcome” and align with Pope Francis’ call for a “more synodal Church,” where transparency and participation are central.
“The Church, being a human institution, is not exempt from sin and corruption. Admittedly, lack of accountability compromises our moral and spiritual authority,” he added. David’s statement comes after US-based advocacy group BishopAccountability.org released a database on Wednesday naming 82 priests and brothers from the Philippines—or those who served in the country—accused of sexually abusing minors.
The group described the list as only “the tip of the iceberg,” point -
‘Revitalized Katok’ aimed at promoting responsible gun ownership, Marbil says
By Rex Anthony Naval
THE National Police (PNP) chief, Gen. Rommel Francisco Marbil, on Sunday reitrated that the “Revitalized Katok” is a lawful and proactive initiative aimed at ensuring responsible firearm ownership and preventing the proliferation of illegal guns.
He also denied claims that is an alleged part of political intimidation during the election season as this operation is a year-round initiative.
“‘Revitalized Katok’ is a yearround initiative to ensure firearm holders comply with the law. It is not, and will never be, used for political purposes. The PNP is simply implementing Republic Act 10591 or the Comprehensive Firearms and Ammunition Regulation Act, which mandates the periodic renewal of firearm licenses,” Marbil stressed.
Under the law, firearm owners must renew their License to Own and Possess Firearms (LTOPF) and firearm registration every ten or five years, depending on their chosen option.
However, they have to take the compulsory neuropsychiatric examination every two years as the test results given by the PNP are only valid for two years.
Failure to comply can result in the revocation of their privilege to own firearms and possible confiscation of the weapons.
Marbil stressed that “Revitalized Katok” is a key component of the PNP’s firearm regulation efforts, wherein police officers deliver formal notices and conduct house visits to remind gun owners to renew their licenses or deposit their firearms.
This ensures that legitimate firearms do not become unaccounted for or fall into the wrong hands.
It is one of the best practices of the PNP in accounting and reminding firearm holders about their obligations under the law.
“The goal is simple—to keep communities safe and prevent loose firearms from being used in crimes. This program has effectively reduced the number of unregistered firearms in circulation, thereby lowering the potential for gun-related violence,” Marbil added.
In response to concerns that “Revitalized Katok” could be misused during the election period, Marbil dismissed such claims as “unfounded and speculative.”
“There is no factual basis to claim that this program is meant to instill fear. We have been implementing ‘Revitalized Katok’ for years—long before the election season. There is no agenda, no political bias, and no intimidation involved. Our reminders are purely legal
House committee starts probe of fake news, 40 socmed personalities invited
By Jovee Marie N. dela Cruz @joveemarie
AT least 40 social media personalities have been invited as resource persons in the first congressional hearing investigating the spread of fake news and disinformation in the country.
refueling at 12:05 p.m.
Binalonan Airport officials noted that the aircraft experienced difficulty restarting the engine before leaving at 4:30 p.m.
The Philippine Aeronautical Rescue Coordination Center (PARCC) detected six emergency locator transmitter (ELT) alerts between 7:04 p.m. and 7:14 p.m.
Authorities later confirmed with the Guimba Police Station that the crash site was located in Purok Arimungmong, barangay San Miguel and the female pilot, identified by the Guimba police as Julia Flori Po of Parañaque City, the lone occupant, did not survive the crash, Apolonio said.
The hearing, set for February 4, 2025, will be conducted by the House Committees on Public Order and Safety, on Public Information, and on Information and Communications Technology.
Laguna Rep. Dan Fernandez, who will preside over the hearing, emphasized that the discussions will focus on how disinformation proliferates online, its effects on public perception and national security, and the necessary measures to counter it.
“The Filipino people have the right to the truth. We must protect our citizens from misinformation designed to mislead and divide society,” said Fernandez,
who chairs the House Committee on Public Order and Safety.
The 40 invited personalities are known for their influence on social media platforms, particularly in political discourse, news analysis, and online commentary.
On the list are Malou Tiquia, Jose Yumang Sonza, Krizette Lauretta Chu, Mark Anthony Lopez, Allan Troy “Sass” Rogando Sasot, MJ Quiambao Reyes, Vivian Zapata Rodriguez, Ethel Pineda, Lorraine Marie Tablang Badoy-Partosa, Jeffrey Almendras Celiz, Lord Byron Cristobal (Banat By), Alex Destor (Tio Moreno), Aaron Peña (Old School Pinoy), Glen Chong, Manuel Mata Jr. (Kokolokoy), Elizabeth Joie Cruz (Joie De Vivre), Claro Ganac, Claire Eden Contreras (Maharlika Boldyakera), Jonathan Morales, Cyrus Preglo (Optics Politics), Maricar Serrano, Ernesto S. Abines Jr. (Jun Abines), Lawyer Trixie Cruz Angeles, Julius Melanosi
Maui (Maui Spencer), Darwin Salceda (Boss Dada TV), Elmer Jugalbot (Eb Jugalbot), Cathy Binag, MJ Mondejar, Suzanne Batalla (IamShanwein), Joe Smith Medina (Political Witch Boy), Jeffrey G. Cruz (JCCO / JJ Cruz), Alven L. Montero, Kester Ramon John Balibalos Tan (Mr. Realtalker), Edwin Jamora (Reyna Elena), Maria Florinda Espenilla-Duque (Pebbles Duque), Dr. Richard Tesoro Mata (Dr. Richard and Erika Mata), Ahmed Paglinawan (Luminous by Trixie & Ahmed), Ryan Lingo, lawyer Enzo Recto (Ricky Tomotorgo) and Ross Flores del Rosario (Wazzup Philippines).
The hearing will also include representatives from Google, Meta (Facebook), and ByteDance (TikTok), alongside officials from the National Bureau of Investigation, National Police (PNP), and the Department of Justice. These agencies are expected to discuss regulatory
ing to systemic barriers such as the absence of mandatory reporting to law enforcement agencies and legal obstacles that hinder victims from seeking justice.
“Most of the cases detailed below involve abuse that occurred since 2000 and reported to law enforcement quickly—within just a few years of occurrence. We know from Catholic abuse data published elsewhere that such cases comprise a small part of the total scope of the problem,” the group said.
At least seven of the accused priests are believed to be still active in ministry, including Bishop Emeritus Filomeno G. Bactol of the Diocese of Naval, who continues to serve in Church activities despite retiring in 2017, and Rev. Fr. Daniel Baul of the Archdiocese of San Fernando, Pampanga, who continues to celebrate Mass after sexual abuse charges against him
and procedural, targeting only those with expired firearm licenses. Nothing more, nothing less,” he clarified.
Marbil also explained that the election gun ban serves to prevent firearms from being used in election-related violence, and “Revitalized Katok” supports this by ensuring that all firearms in circulation are accounted for and legally held.
“In the long run, ‘Revitalized Katok’ strengthens our efforts to keep elections safe, as it prevents unrenewed firearms from being used for illegal activities,” he added.
Marbil also reaffirmed the PNP’s political neutrality, he underscored the organization’s commitment to public safety through strict enforcement of firearm regulations.
“We are merely upholding the law. Those who claim otherwise rely on speculation, not evidence. Our priority is to ensure that firearms remain in the hands of responsible, law-abiding citizens and do not pose a threat to public safety, especially during the elections,” he added.
challenges and enforcement mechanisms against online disinformation.
Fernandez stressed that the inquiry seeks to identify weaknesses in existing laws and policies governing digital platforms and propose solutions to ensure public access to accurate and reliable information.
He added that the House will not tolerate deliberate misinformation campaigns that exploit digital platforms for political or financial gain.
“We will not allow social media to be used as a tool for deception. It’s time to implement stricter regulations to combat fake news and disinformation,” said Fernandez.
House members are expected to explore measures that will strengthen platform accountability, impose penalties for repeat offenders, and improve digital literacy programs to help Filipinos critically evaluate online content.
The hearing will be livestreamed for public viewing, with lawmakers hoping it will spark a national conversation on responsible online discourse and the role of social media in shaping public perception.
Economy
Cybercrime toll: ₧198M in 2024
By Lorenz S. Marasigan @lorenzmarasigan
CYBERCRIME in the Philippines took a staggering financial toll in 2024, with victims losing nearly P198 million to various digital scams, the latest report from the Cybercrime Investigation and Coordinating Center (CICC) show.
The figure marks the first time the agency has released official statistics on the actual financial damage caused by cybercriminals.
The surge in reported cases was equally alarming. The CICC received 10,004 cybercrime complaints in 2024, more than three times the 3,317 cases recorded in 2023.
CICC Executive Director Alexander K. Ramos attributed the sharp increase not only to the rising incidence of cyber fraud but also to greater public awareness
More than 5K coop leaders attend IYC 2025 launching
THE Philippines officially launched the International Year of Cooperatives (IYC) 2025 on Friday at Quezon City Memorial Circle, drawing over 5,000 cooperative leaders from across the country.
Spearheaded by the Cooperative Development Authority (CDA) and the National Alliance of Cooperatives (NAC), the event celebrated the crucial role of cooperatives in promoting economic development, social inclusion, and community resilience.
With the theme “Cooperatives Build a Better World,” the launch emphasized the cooperative movement’s contribution to achieving
the United Nations Sustainable Development Goals (SDGs). The event commenced with a parade featuring cooperatives from various regions, symbolizing unity and strength within the sector.
Quezon City Mayor Joy Belmonte, in her keynote speech, highlighted the importance of cooperatives in fostering an inclusive society and outlined the city’s initiatives to support their growth.
President Marcos, through a video message, lauded the cooperative sector as an essential partner in the nation’s pursuit of sustainable progress.
Representatives from the legislative sector, including COOP-
NATCCO Rep. Felimon Espares and AGAP Rep. Nicanor Briones, stressed the cooperatives’ pivotal role in delivering essential services and strengthening the national economy.
One of the program’s key highlights was the signing of a solidarity statement by cooperative leaders, symbolizing their collective commitment to advancing the sector. This was followed by a solidarity chain, where participants held hands to signify unity.
CDA OIC Assistant Secretary Myrla Paradillo and Administrator Santiago Lim emphasized that cooperatives exemplify people-centered development and reaffirmed
Slow growth, Covid-19 delay PHL’s exit from middle income trap
By Cai U. Ordinario @caiordinario
SLOW growth and the Co -
vid-19 setbacks suffered by the economy could delay the country’s exit from the middle income trap, according to the National Economic and Development Authority (Neda).
In a briefing, Neda Undersecretary for Planning and Policy Rosemarie G. Edillon told reporters that while attaining Upper Middle Income Country status remains feasible this year or early next year, the AmBisyon 2040 goals may be delayed.
The AmBisyon 2040 is the national long-term missionvision of the country to have a predominantly middle class society after a 25 period which began in 2015.
“With respect to the AmBisyon [2040], medyo ang laki ng setback natin because of Covid in terms of productivity loss so we are still trying to catch up on that. That’s
really important that we are able to quickly recover the lost ground para ma -meet pa natin iyon ,” Edillon told reporters.
Edillon said that while their assessments in Neda estimate that the delay in attaining the AmBisyon 2040 will not reach a decade, she said the government is “not happy” with this and more needs to be done to catch up.
“Ang initial na runs namin , hindi siya a decade [delayed], but, nonetheless, hindi pa din kami happy doon kaya ang gusto namin is mas i -improve pa so that’s why we have all these programs, in particular recovering the learning losses,” Edillon said.
In the briefing, she said in order to attain these goals, the country must find new sources of economic growth as the country’s traditional growth drivers have already “matured” and prevented the country from attaining faster and more sustainable economic growth needed to attain AmBisyon 2040.
and an improved reporting system.
“In previous years, people were not aware that they were being scammed and many were not also aware on where to file their complaints,” he said. “We also owe this to our partners who have been encouraging the public to report to our hotline or through other channels and platforms.”
The financial losses were largely concentrated in consumer fraud and online scams, which made up the bulk of complaints. Consumer fraud alone accounted for 3,534
the CDA’s commitment to providing resources, policy support, and opportunities for cooperatives to thrive in a dynamic environment.
NAC President Gilbert Llanto described the event as a call to action beyond mere celebration. He underscored the theme as a reaffirmation of cooperatives’ commitment to building strong communities, achieving shared prosperity, and fostering collaboration. Llanto highlighted that cooperatives are not merely business enterprises but vital support systems for Filipino families, empowering individuals through access to resources, employment, and economic independence.
The International Year of Cooperatives 2025 marks a significant milestone for the cooperative sector in the Philippines. Through continued unity and cooperation, the vision of a more prosperous and humane society becomes increasingly achievable.
Edillon said some of the programs include efforts to boost economic competitiveness which can be done by enhancing operational efficiency and streamline business processes.
The Neda official said in the Philippine Development Report (PDR), the Neda took stock of the administration’s accomplishments and compared these against the Philippine Development Plan (PDP) targets.
She added that the Neda also identified the lessons learned and how the country can move forward to attain its development targets.
Based on the PDR, Edillon said the government fell short of the country’s economic growth targets; quality employment; and food inflation.
“To achieve resilient economic growth, we need to diversify our sources of growth. For inclusive quality employment, we must encourage more investments in sectors that require workers with higher-level skills and further develop an agile workforce. To keep food inflation low and stable, we need to anticipate potential shocks and continue to employ multi-pronged approaches,” Edillon said.
She said the Anti-Red Tape Authority (Arta) will expand partnerships to accelerate the adoption of the Electronic Business One-Stop Shop (eBOSS) in all local governments.
Meanwhile, key legislative measures including the Foreign Investor’s Long-Term Lease Act, amendments to the Right-of-Way Act, the Konektadong Pinoy bill, and the E-Governance Act will be crucial in attracting investments in infrastructure and priority sectors.
The Neda Official also said the government intends to position the manufacturing sector as a key player in sustainable industries.
Efforts will focus on expanding the domestic manufacturing base and attracting investments in electric vehicle (EV) batteries, electronics, and other green technologies.
Further, reforms to the mining fiscal regime will be prioritized to capitalize on the rising demand for critical minerals needed for the energy transition.
cases, with the vast majority involving the non-delivery of goods and services.
Online fraud was responsible for 3,242 cases, including financial fraud, impersonation scams, job scams, investment scams, and romance scams— all of which contributed to the billions of pesos circulating in illicit digital schemes.
The financial sector bore the brunt of these scams, with digital wallets and online banking platforms frequently exploited by
cybercriminals. GCash emerged as the most targeted platform, with reported losses reaching P76.49 million, making up 39 percent of the total financial damage. BPI followed with P28.47 million in losses, while other victims reported losing P15.38 million through GoTyme and P13.99 million through Maya. Ramos advised the public to report scams through the InterAgency Response Center (IARC) hotline 1326, which operates 24/7, including weekends and holidays.
Jobs, welfare plans in voters’–survey
By Bless Aubrey Ogerio
FILIPINOS are prioritizing jobs, food security and healthcare as they head to the polls this year, a research firm’s pre-election poll showed.
The Stratbase-Social Weather Station survey released on Friday revealed that “Increasing job opportunities” and “Development of agriculture and ensuring food security” topped the list, with a resounding 94 percent of respondents saying they would vote for a candidate prioritizing these concerns. A strong healthcare system is also in voters’ minds, with 93 percent expressing support. Equal access to education and workers’ rights, including the welfare of overseas Filipino workers, were not far behind at 92 percent each.
While economic and social welfare issues dominated, Filipinos also showed significant concern for the environment and national security. Reducing poverty and hunger, along with addressing climate change and disaster
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were dismissed in 2021 because the complainant did not come to court to testify to prove her accusations.
Amid growing concerns over accountability, the CBCP assured the public that it has tightened protocols, particularly concerning Filipino priests assigned to overseas missions.
“We are now stricter about asking Filipino priests incardinated outside the country to ensure they are properly endorsed by their bishops in the States if they come home to the Philippines for
preparedness, garnered 87 percent support.
Controlling the cost of basic goods and services rated 85 percent, followed by national security in the West Philippine Sea at 83 percent, and energy security (including renewable energy) at 82 percent. Other issues registering voter interest include fighting illegal drugs and electoral reform (both at 79 percent) and eradicating government corruption (70 percent). Less decisive, but still notable, were calls for laws against political dynasties (59 percent), and for divorce (50 percent). Further down the list was the legalization of medical marijuana at 35 percent, LGBTQIA+ civil unions at 34 percent, and, with the lowest support, legalizing abortion for victims of rape or incest at 22 percent. The Stratbase-SWS survey, conducted from January 17 to 20, interviewed 1,800 registered voters nationwide aged 18 and above, using face-toface interviews. The margin of error is plus or minus 2.31 percent.
vacation and intend to celebrate Mass,” David said.
Local bishops are also required to verify that priests sent for ministry abroad have no record of abuse in the Philippines.
However, David also acknowledged that challenges remain despite the Church’s various efforts to make the institution a safe space.
He stressed the importance of collaboration with civil authorities, the laity, and the media in fostering transparency.
“We need the help and participation of our lay people, including professional journalists who are our allies in the quest for for truth and fact-checking,” he added.
Trump imposes tariffs on Canada, Mexico and China, spurring trade war as North American allies respond
By Josh Boak, Zeke Miller, Rob Gillies & Christopher Sherman
The Associated Press
WASHINGTON—President
Donald Trump on Saturday signed an order to impose stiff tariffs on imports from Mexico, Canada and China, drawing swift retaliation and an undeniable sense of betrayal from the country’s North American neighbors as a trade war erupted among the longtime allies.
The Republican president posted on social media that the tariffs were necessary “to protect Americans,” pressing the three nations to do more to curb the manufacture and export of illicit fentanyl and for Canada and Mexico to reduce illegal immigration into the US.
up to $155 billion in US imports, including alcohol and fruit.
He channeled the betrayal that many Canadians are feeling, reminding Americans that Canadian troops fought alongside them in Afghanistan and helped respond to myriad crises from wildfires in California to Hurricane Katrina.
“We were always there standing with you, grieving with you, the American people,” he said.
Mexico’s president also ordered retaliatory tariffs. China did not immediately respond to Trump’s action.
vid Eby, specifically called on residents to stop buying liquor from US “red” states and said it was removing American alcohol brands from government store shelves as a response to the tariffs.
The tariffs will go into effect on Tuesday, setting up a showdown in North America that could potentially sabotage economic growth.
“Historically, most of our tariffs on raw materials have been low because we want to get cheaper materials so our manufacturers will be competitive...Now, what’s he talking about? He’s talking about tariffs on raw materials. I don’t get the economics of it.’’
The tariffs, if sustained, could cause inflation to significantly worsen, threatening the trust that many voters placed in Trump to lower the prices of groceries, gasoline, housing, autos and other goods as he promised. They also risked throwing the global economy and Trump’s political mandate into turmoil just two weeks into his second term. Trump declared an economic emergency in order to place duties of 10 percent on all imports from China and 25 percent on imports from Mexico and Canada. Energy imported from Canada, including oil, natural gas and electricity, would be taxed at a 10 percent rate. Trump’s order includes a mechanism to escalate the rates charged by the US against retaliation by the other countries, raising the specter of an even more severe economic disruption.
“We categorically reject the White House’s slander that the Mexican government has alliances with criminal organizations, as well as any intention of meddling in our territory,” Mexican President Claudia Sheinbaum wrote in a post on X while saying she had instructed her economy secretary to implement a response that includes retaliatory tariffs and other measures in defense of Mexico’s interests.
“The actions taken today by the White House split us apart instead of bringing us together,” Canadian Prime Minister Justin Trudeau said in a somber tone as he announced that his country would put matching 25 percent tariffs on
“If the United States government and its agencies wanted to address the serious fentanyl consumption in their country, they could fight the sale of drugs on the streets of their major cities, which they don’t do and the laundering of money that this illegal activity generates that has done so much harm to its population.”
The premier of the Canadian province of British Columbia, Da -
A new analysis by the Budget Lab at Yale laid out the possible damage to the US economy, saying the average household would lose the equivalent of $1,170 in income from the taxes. Economic growth would slow and inflation would worsen—and the situation could be even worse with retaliation from other countries.
Democrats were quick to warn that any inflation going forward was the result of Trump’s actions.
“You’re worried about grocery prices. Don’s raising prices with his tariffs,” Senate Democratic leader Chuck Schumer of New York wrote in a series of posts on X. “You’re worried about tomato prices. Wait till Trump’s Mexico tariffs raise your tomato prices,” read another.
“You’re worried about car prices. Wait till Trump’s Canada tariffs raise your car prices,” read another.
A senior US administration official, speaking on condition of anonymity to brief reporters, said the lower rate on energy reflected a desire to minimize disruptive increases on the price of gasoline or
utilities. That’s a sign White House officials understand the gamble they’re taking on inflation. Price spikes under former President Joe Biden led to voter frustration that helped return Trump to the White House.
The order signed by Trump contained no mechanism for granting exceptions, the official said, a possible blow to homebuilders who rely on Canadian lumber as well as farmers, automakers and other industries.
The official did not provide specific benchmarks that could be met to lift the new tariffs, saying only that the best measure would be fewer Americans dying from fentanyl addiction.
The order would also allow for tariffs on Canadian imports of less than $800.
Imports below that sum are currently able to cross into the United States without customs and duties.
“It doesn’t make much economic sense,’’ said William Reinsch, senior adviser at the Center for Strategic and International Studies and a former US trade official.
With the tariffs, Trump is honoring promises that are at the core of his economic and national security philosophy. But the announcement showed his seriousness around the issue as some Trump allies had played down the threat of higher import taxes as mere negotiating tactics. The president is preparing more import taxes in a sign that tariffs will be an ongoing part of his second term. On Friday, he mentioned imported computer chips, steel, oil and natural gas, as well as copper, pharmaceutical drugs and imports from the European Union—moves that could essentially pit the US against much of the global economy. Trudeau warned of economic pain as the tariffs take effect and encouraged Canadians to “choose Canadian products and services rather than American ones.” But he also voiced optimism in the enduring relationship between the two countries. “It is going to have real consequences for people, for workers on both sides of our border. We don’t want to be here. We didn’t ask for this, but we will not back down in standing up both for Canadians and for the incredible successful relationship between Canada and the United States,” Trudeau said. Boak reported from Palm Beach, Florida, Sherman reported from Mexico City and Gillies reported from Toronto. Associated Press writer Paul Wiseman in Washington contributed to this report.
Canada and Mexico hit back at Trump tariffs, China vows countermeasures
By Josh Wingrove, Skylar Woodhouse & Jennifer A. Dlouhy
Canada and Mexico vowed to hit back at US tariffs with tit-for-tat measures, after President d ona ld Trump followed through on his threats of general levies of 25% and began a trade war that’s set to reshape global supply chains. Canadian Prime Minister Justin Trudeau said the country will impose 25% tariffs against C$155 billion ($106 billion) of US goods, while Mexican President Claudia Sheinbaum pledged retaliatory tariffs. China vowed “corresponding
countermeasures” to Trump’s 10% levy on Chinese exports, without announcing any new tariffs.
Th e responses from three of a me rica’s biggest trading partners came shortly after Trump signed orders for the US tariffs on Saturday. The measures take effect at 12:01 a.m. on Tuesday, and it’s unclear if that offers a last-chance window for a deal.
“I t marks a new phase of the trade war, which targets multiple countries, including allies and China, to meet US economic and geopolitical policy goals,” said Gary n g, s enior economist at n ati xis S a Ch ina’s Commerce Ministry pledged to file legal proceedings to the World
Trade Organization in a Sunday statement, but stopped short of explicitly threatening counter-tariffs. President Xi Jinping’s government has in recent months been treading carefully with Washington, avoiding any retaliation to trade curbs that could escalate tensions.
Trump’s tariffs deliver on a threat to punish the three countries for what he says is a failure to prevent the flow of undocumented migrants and illegal drugs, though he had also teased the possibility of a reprieve if Mexico and Canada took steps to address his concerns.
Th e Republican’s orders also included retaliation clauses that would increase US tariffs if the countries respond in kind.
The new measures will be on top of existing trade levies on those countries.
Ene rgy imports from Canada, including oil and electricity, will be spared from the full 25 percent levy and will face a 10 percent tariff. White House officials said that was intended to minimize upward pressure on gasoline and home-heating oil prices.
Trump’s move is explosive in scale and goes well beyond his first-term tariffs. Steep tariffs will raise the cost of key goods like food, housing and gasoline for a me ricans, while the overall fallout threatens to spill widely across the countries, which are the largest three sources of US imports, accounting for almost half of total volume.
Trump campaigned on a platform of extensive tariffs and he followed through, though dialing back planned measures on China while increasing them on his neighbors. Most mainstream economists and many business groups warn that trade levies will disrupt supply chains, raise prices for consumers already wary of inflation and reduce global trade flows.
Sweeping measures
T HE move represents yet another instance where Trump is testing the bounds of his emergency authorities under federal law—already a hallmark of his second term in the White House.
Th e tariff orders invoke the International Emergency Economic Powers a ct an d expand an earlier declaration to address what he calls a “threat to the safety and security of a me ricans.”
Ma rkets have been gripped by uncertainty as they awaited Trump’s decision on the tariffs, and there are now looming questions about how the levies will impact stocks, as well as companies and consumers.
auto makers such as General Motors Co., Ford Motor Co. and Stellantis n V, w hich have global supply chains and massive exposure to Mexico and Canada, could see significant swings. Industry groups warned that because of the tight integration of US and Canadian manufacturing, the imminent tariffs could have a steep impact on the industry.
“T he imposition of tariffs will be detrimental to a me rican jobs, investment and consumers,” Jennifer Safavian, the president of a ut os d ri ve a me rica, said in an e-mailed statement. “US automakers would be better served by policies that reduce barriers for manufacturers, ease regulations that hinder production and create greater export opportunities.”
Trump’s actions also closed a loophole that exempted packages worth less than $800 from tariffs. Extinguishing the so-called de minimis exemption for small parcels sent to the US from the three countries could significantly impact online retail—though the scope of the measure wasn’t immediately clear. While such changes would most directly affect Chinese retailers, a me rican consumers who benefit from those platforms’ cheap goods would likely suffer, too.
The US loses a tremendous amount of tariff revenue by using the exemption, a US official told reporters on a briefing call.
Parts of the US, including the Pacific n or thwest and n or theast US, are deeply reliant on electricity or gas flows from Canada. Under an energy emergency Trump declared his first day in office, refined gasoline and diesel, uranium, coal, biofuels and critical minerals were all given the lower 10% tariff.
Oi l industry advocates, however, have warned against even a 10% increase in the cost of crude
inputs into Midwestern refineries that have few near-term options to substitute with US supplies. d em ocrats wasted no time in pouncing on messaging around how the trade moves could impact families’ budgets. “These tariffs will be devastating for a me rican consumers,” Congressman Greg Stanton, an a ri zona d em ocrat, and some 40 colleagues wrote in a Saturday letter.
“Trump’s tariffs on Mexico and Canada will make your life more expensive,” Stanton said more bluntly in a separate post on X.
Retaliatory steps M EXICO was strident in rejecting the Trump admini stration’s allegation that it had alliances with drug traffickers, and suggested the US government curb demand and use of narcotics internally.
“ d ru g use and distribution is in your country and that is a public health problem that you have not addressed,” Mexican President Sheinbaum said in a post on X. “It is not by imposing tariffs that problems are resolved, but by talking.” Mexico will also implement non-tariff measures, while calling for cooperation with the US on topics including security and addressing the fentanyl public health crisis, she said.
The Mexican economy could enter a “severe recession” if Trump’s tariffs remain in place for more than a quarter, according to Gabriela Siller, director of economic analysis at Grupo Financiero Base. “If the tariffs last several months, the Mexican peso depreciation could reach record highs.”
Ca nada’s Trudeau said a me rican
The orders enacting the tariffs do create a process to remove them. Homeland Security Secretary Kristi n oe m can inform Trump if the countries have taken adequate steps to alleviate concerns over migration and drugs, and the tariffs are removed if he agrees. It ’s not clear how realistic a prospect that is. Canada, for instance, already took steps to tighten its border to appease Trump, and it didn’t deter him. In a speech Saturday night, Trudeau invoked Canada’s long history of partnership with the US. “We have fought and died alongside you,” he said, citing World War II, the Korean War and the recent war in a fg hanistan. “Together, we’ve built the most successful economic, military, and security partnership the world has ever seen,” Trudeau said, urging Trump to partner with Canada on their shared challenges. With assistance from Thomas
and Jenni Marsh /Bloomberg
India delivers $12 billion in tax cuts to spur economic growth
By Ruchi Bhatia, Anup Roy & Shruti Srivastava
IndI a’s finance minister gave middle class consumers 1 trillion rupees ($11.5 billion) in tax relief in her budget saturday, seeking to shore up a slowing economy as global risks worsen.
Individuals with annual income up to 1.2 million rupees will effectively be exempt from paying income tax, Finance Minister Nirmala Sitharaman told lawmakers in New Delhi, raising the cap from 700,000 rupees. She also announced a slightly smaller budget deficit for the coming fiscal year, with a modest increase in infrastructure spending. The tax changes will affect 10 million individuals, increasing the number of those paying zero income tax to 60 million, or about 74 percent of all taxpayers. The move will “substantially reduce the taxes of the middle class and leave more money in their hands, boosting
household consumption, savings and investment,” the minister said. The budget comes against the backdrop of India’s weakest economic growth since the pandemic and rising geopolitical risks as US President Donald Trump roils global trade with threats of widespread tariffs. Investors have already wiped about $600 billion from India’s stocks in the past month. The government estimated growth of just 6.4 percent in the current fiscal year—well below the 8 percent annual growth needed for Prime Minister Narendra Modi to meet his ambitious economic goals of making India a developed nation by 2047. The economy is expected
to expand 6.3 percent-6.8 percent in the coming fiscal year.
Despite the revenue loss from tax cuts, Sitharaman still managed to target a lower budget deficit in the coming year of 4.4 percent of gross domestic product, slightly below the 4.5 percent previously estimated. An increase in transfers from the central bank and government-owned financial institutions will partly help to offset the drop in
tax revenue. The deficit would be funded through slightly higher-than-expected bond sales of 14.82 trillion rupees.
On the spending side, the government underspent on its capital expenditure this year, resulting in a smaller budget deficit of 4.8 percent of GDP, compared with a previous estimate of 4.9 percent. Capital spending is projected to grow 10 percent to 11.2 trillion rupees in the coming fiscal year.
“Our endeavor will be to keep the fiscal
deficit each year such that the central government debt remains on a declining path as a percentage of the GDP,” she said, projecting debt of 50 percent of GDP by March 2031.
Curbing the fiscal deficit and government debt will be key to raising India’s credit rating, which is currently at the lowest investment grade level. Moody’s Ratings said Saturday the fiscal plan outlined by the finance minister doesn’t warrant a change in the credit rating just yet.
“By giving consumption a big boost, the government is signaling it wants private investment to play a bigger role in lifting growth. And to fund this, it is reducing day-to-day current expenditures and refraining from new populist welfare measures,” said Bloomberg economist Abhishek Gupta.
Economists had mixed responses to the budget, with many saying the tax cuts would help lift consumption, but revenue targets going forward appeared ambitious. The infrastructure spending targets also disappointed investors expecting bigger allocations.
The NSE Nifty 50 Index ended 0.1% lower, after swinging between gains and losses, with shares of consumer firms, lower-end automobiles and
retail chains rising.
“The government’s decision to shift away from public capex to boosting purchasing disposable income is well timed in an environment where domestic growth levers have to be pulled to counter cyclical slowdown,” said Anubhuti Sahay, an economist with Standard Chartered Plc. Sonal Varma, an economist at Nomura Holdings Inc., said the growth impulse from the budget would be “marginally positive” for the coming fiscal year. The government’s fiscal prudence will also provide greater leeway for the central bank to begin lowering interest rates, possibly as soon as next week, she said.
Sitharaman began her speech in the parliament with loud protests from opposition lawmakers about different schemes announced by the minister. The main opposition Indian National Congress, which has almost doubled its seats in the lower house after last year’s election, has pushed for more debate in the parliament about issues such as joblessness and corruption allegations against billionaire Gautam Adani, who is perceived to have close ties to Modi.
Shashi Tharoor, a lawmaker from the Congress party, said the tax cuts would benefit those who earn a salary, but doesn’t address the plight of millions who are unemployed.
“For you to benefit from income tax relief, you actually need jobs,” he said. “Unemployment was not mentioned by the finance minister in her speech.”
The Modi government presented its third term first full-year budget when the global competitive landscape is set to be disrupted. With assistance from Swati Gupta, Alex Gabriel Simon, Abhijit Roy Chowdhury and Siddhartha Singh /Bloomberg t hi S photo provided by US af rica Command, the US military conducts coordinated airstrikes against islamic State operatives in Somalia on Saturday, February 1,
US launches airstrikes against iSiS in Somalia, marking first attack of trump’s second term
By Tara Copp, Aamer Madhani & Omar Faruk
The Associated Press
WASHINGTON—The US military has conducted airstrikes against Islamic State operatives in Somalia, the first attacks in the African nation during President Donald Trump’s second term.
Defense Secretary Pete Hegseth said Saturday that the strikes by US Africa Command were directed by Trump and coordinated with Somalia’s government.
An initial assessment by the Pentagon indicated that “multiple” operatives were killed. The Pentagon said it assessed that no civilians were harmed in the strikes.
Trump, in a post on social media, said a senior IS planner and recruits were targeted in the operation.
“The strikes destroyed the caves they live in, and killed many terrorists without, in any way, harming civilians. Our Military has targeted this ISIS Attack Planner for years, but Biden and his cronies wouldn’t act quickly enough to get the job done. I did!” Trump said. “The message to ISIS and all others who would attack Americans is that “WE WILL FIND YOU, AND WE WILL KILL YOU!”
Trump did not identify the IS planner or say whether that person was killed in the strike. White House officials did not immediately respond to requests for comment.
The office of Somalia’s president, Hassan Sheikh Mohamud, said the operation “reinforces the strong security partnership” between the two countries in “combating extremist threats.” In a post on X, it said Somalia “remains resolute in working with its allies to eliminate international terrorism and ensure regional stability.” The Pentagon’s counterterrorism strategy in Africa has been strained as two key partners, Chad and Niger, ousted US forces last year and took over key bases that the US military had used to train and conduct missions against terrorist groups across the Sahel, the vast arid expanse south of the Sahara Desert.
US military officials have warned that IS cells have received increasing direction from the group’s leadership that relocated to northern Somalia. That has included how to kidnap Westerners for ransom, how to learn better military tactics, how to hide from drones and how to build their own small quadcopters.
The IS affiliate in Somalia
emerged in 2015 as a breakaway faction from al-Shabab, al-Qaida’s East African link, and is most active in Puntland, particularly in the Galgala Mountains, where it has established hideouts and training camps and is led by Abdulkadir Mumin.
While its influence is relatively limited compared to Al-Shabaab, IS in Somalia has been involved in attacks in southern and central Somalia. The group funds its activities through extortion, smuggling, and illicit taxation, particularly in some coastal areas where it has attempted to control local businesses.
Despite facing counterterrorism pressure from Somali security forces, US airstrikes and al-Shabab rivalries, it continues to operate in remote and urban areas, seeking to expand its influence through recruitment and propaganda.
The number of IS militants in the country are estimated to be in the hundreds, mostly scattered in the Cal Miskaat mountains in Puntland’s Bari region, according to the International Crisis Group.
Saturday’s operation followed military airstrikes on Jan. 30 in northwest Syria, killing a senior operative in Hurras al-Din, an alQaeda affiliate, US Central Command said. Faruk reported from Mogadishu, Somalia.
Nirmala Sitharama N on February 1. Bloom B erg photo
Gaza ceasefire sees its smoothest exchange of Israeli hostages for Palestinian prisoners
By Mohammad Jahjouh & Imad Isseid The Associated Press
KHAN YOUNIS, Gaza Strip—The ceasefire in Gaza saw its smoothest exchange yet of Israeli hostages for Palestinian prisoners on Saturday, and the crucial Rafah border crossing reopened two days before discussions on the truce’s far more difficult second phase begin.
And Israeli Prime Minister Benjamin Netanyahu will meet with US President Donald Trump at the White House on Tuesday, giving him a chance to showcase his ties to Israel’s closest ally and press his case for what should come next after 15 months of war.
The ceasefire’s second phase calls for the release of remaining hostages and an indefinite extension of the truce in the deadliest and most destructive war ever between Israel and Hamas. The fighting could resume in early March if an agreement isn’t reached.
Netanyahu’s office said he spoke Saturday evening with Trump’s Middle East envoy Steve Witkoff. They agreed that negotiations on the second phase will begin at their meeting Monday, and Witkoff later in the week will speak with the other mediators, Qatar and Egypt.
Hamas on Saturday freed three male hostages, and Israel released 183 Palestinian prisoners in the fourth such exchange. Another exchange is planned for next Saturday.
Militants handed ArgentinianIsraeli Yarden Bibas and FrenchIsraeli Ofer Kalderon to Red Cross officials in the southern city of Khan Younis, while American-Israeli hostage Keith Siegel, looking pale and thin, was handed over in Gaza City.
All three were taken during the October 7, 2023, Hamas-led attack on Israel that sparked the war. Eighteen hostages have now been released since the ceasefire began on January 19.
The latest releases were quick and orderly, in contrast to chaotic scenes on Thursday when armed militants appeared to struggle to hold back a crowd. On Saturday, the militants stood in rows as the hostages walked onto a stage and waved.
Hamas has sought to show it remains in control in Gaza even
though a number of its military leaders have been killed.
A bus later departed Ofer Military Prison with over two-dozen Palestinian prisoners bound for the Israeli-occupied West Bank. Jubilant crowds cheered and hoisted the prisoners on their shoulders. Many appeared frail and thin.
The Israeli Prison Authority said all 183 prisoners set for release had been freed. In another sign of progress in the ceasefire, they included 111 who were arre sted after Hamas’ October 7 attack but who weren’t involved in it. They had been held without trial and were released to Gaza.
Seven serving life sentences were transferred to Egypt.
Joy and relief, but fears for those still held SIEGEl , 65, originally from Chapel H ill, North Carolina, was taken hostage from Kibbutz Kfar Aza, along with his wife, Aviva, who was released during a brief 2023 ceasefire.
There were sighs of relief and cheers as kibbutz members watched Siegel’s release.
“You can see that he’s lost a lot of weight, but still he’s walking and talking and you can feel that it’s still him. And one of the first things he told us is that he’s still vegan,” said Siegel’s niece, Tal Wax.
The release of Bibas, 35, brought renewed attention to the fate of his wife, Shiri, and their two sons, Ariel and Kfir, who were 4 years old and 9 months old when they were abducted from Kibbutz Nir Oz.
Kfir was the youngest of the roughly 250 people who were taken captive on October 7, and his plight came to represent the helplessness and anger in Israel.
Israel expressed “grave concern” for Bibas’ wife and children and pleaded with negotiators to provide information. Hamas has said they were killed in an Israeli airstrike, but Israel has not con -
firmed it.
After his release, Bibas closed his eyes as his father, Eli, and sister Ofri hugged him and cried. “Sweetheart,” his father said.
“A quarter of our heart has returned to us,” the Bibas family said in a statement.
Kalderon, 54, was also captured from Kibbutz Nir Oz. His two children, Erez and Sahar, were taken alongside him and released during the earlier ceasefire.
“I am here. I am here. I didn’t give up,” Kalderon said as they embraced.
There were similar scenes among the released Palestinians.
“Certainly, it’s an indescribable feeling, and undoubtedly a mixed feeling of both sadness and joy, as we have left our brothers in captivity,” said Mohammad Kaskus, who had been sentenced to 25 years over attacks against Israelis.
Yaser Abu Hamad, arrested for involvement in the Islamic Jihad militant group in 2006, found that 20 family members including his mother and sisters had been killed by Israeli airstrikes during the war. He visited their graves.
Palestinians who had been sentenced over their connection to deadly attacks against Israelis described harsh conditions, beatings and other abuse in prison. The Israeli Prison Authority didn’t immediately respond to a request for comment.
Ceasefire brings respite to battered Gaza
T HE ceasefire has held for two w eeks, allowing for hundreds of trucks of aid to flow into the tiny coastal territory and for hundreds of thousands of Palestinians to return to shattered homes in northern Gaza.
And on Saturday, 50 sick and wounded Palestinian children were leaving Gaza for treatment through the Rafah border crossing to Egypt as the enclave’s sole exit opened for the first time since Israel captured it nine months ago.
During the ceasefire’s six-week first phase, 33 Israeli hostages are to be freed in exchange for nearly 2,000 Palestinian prisoners. Israel says it has received information from Hamas that eight of those hostages are dead. About 80 hostages remain in Gaza.
“We will not allow you to blow up this deal. We will not allow you to force us back into war or to sentence the hostages left behind to death,” Naama Weinberg, cousin of deceased hostage Itay Svirsky, told a weekly gathering in Tel Aviv, addressing the warring sides.
Israel says it is committed to destroying Hamas. The militant group says it won’t release the remaining hostages without an end to the war and a full Israeli withdrawal from Gaza.
About 1,200 people, mostly civilians, were killed in the attack that sparked the war. More than 47,000 Palestinians have been killed in Israel’s retaliatory air and ground offensive, over half women and children, according to Gaza’s Health Ministry, which doesn’t say how many of the dead were militants.
The Israeli military says it killed over 17,000 fighters, without providing evidence. It blames civilian deaths on Hamas because its fighters operate in residential neighborhoods. Isseid reported from Beitunia, West Bank. Associated Press journalists Moshe Edri at Reim military base, Israel; Paz Bar in Kfar Saba, Israel; and Isabel Debre in Ramallah, the West Bank, contributed to this report.
Zelenskyy warns against excluding Ukraine from US-Russia war talks: ‘Very dangerous’
By Susie Blann, Samya Kullab & Illia Novikov The Associated Press
KYIV, Ukraine—Ukrainian President Volodymyr Zelenskyy said Saturday that excluding his country from talks between the US and Russia about the war in Ukraine would be “very dangerous” and asked for more discussions between Kyiv and Washington to develop a plan for a ceasefire.
Speaking in an exclusive interview with The Associated Press, Zelenskyy said Russia does not want to engage in ceasefire talks or to discuss any kind of concessions, which the Kremlin interprets as losing at a time when its troops have the upper hand on the battlefield.
He said US President Donald Trump could bring Russian President Vladimir Putin to the table with the threat of sanctions targeting Russia’s energy and banking system, as well as continued support of the Ukrainian military.
“I think these are the closest and most important steps,” he said in the interview in the Ukrainian capital that lasted for more than an hour.
Zelenskyy’s remarks followed comments Friday by Trump, who said American and Russian officials were “already talking” about ending the war. Trump said his administration has had “very serious” discussions with Russia, but he did not elaborate.
“They may have their own relations, but talking about Ukraine without us—it is dangerous for everyone,” Zelenskyy said.
He said his team has been in contact with the Trump administration, but those discussions are at a “general level,” and he believes in-person meetings will take place soon to develop more detailed agreements.
“We need to work more on this,” he said, adding that Trump understandably appeared to be focused on domestic issues in the first weeks after his inauguration.
The nearly three-year war in Ukraine is at a crossroads. Trump promised to end the fighting within six months of taking office, but the two sides are far apart, and it is unclear how a ceasefire deal would take shape. Meanwhile, Russia continues to make slow but steady gains along the front, and Ukrainian forces are enduring severe manpower shortages.
Most Ukrainians want a pause in fighting to rebuild their lives. The country faces neardaily Russian attacks on homes, and strikes on power systems have plunged entire cities into darkness.
Millions of Ukrainians have been displaced, unable to return to their homes after vast tracts of the country’s east have been reduced to rubble. Nearly a fifth of Ukraine is now occupied by Russia. In those areas, Moscow-appointed authorities are swiftly erasing any hint of Ukrainian identity.
With Trump back in the White House, Ukraine’s relationship with the US, its largest and most important ally, is also at a tipping point.
In an initial phone call with Trump during the presidential campaign, Zelenskyy said, the two agreed that if Trump won, they would meet to discuss the steps needed to end the war. But a planned visit by Trump’s
Ukraine envoy, Keith Kellogg, was postponed “for legal reasons” Zelenskyy said. That was followed by a sudden foreign aid freeze that effectively caused Ukrainian organizations to halt projects.
“I believe that, first and foremost, we (must) hold a meeting with him, and that is important. And that is, by the way, something that everyone in Europe wants,” Zelenskyy said, referring to “a common vision of a quick end to the war.”
After the conversation with Trump, “we should move on to some kind of format of conversation with Russians. And I would like to see the United States of America, Ukraine and the Russians at the negotiating table....And, to be honest, a European Union voice should also be there. I think it would be fair, effective. But how will it turn out? I don’t know.”
Zelenskyy cautioned against allowing Putin to take “control” over the war, an apparent reference to Russia’s repeated threats of escalation during President Joe Biden’s administration.
Without security guarantees from Ukraine’s allies, Zelenskyy said, any deal struck with Russia would only serve as a precursor to future aggression. Membership in the NATO alliance, a longstanding wish for Kyiv that Moscow has categorically rejected, is still Zelenskyy’s top choice. NATO membership is the “cheapest” option for Ukraine’s allies, and it would also strengthen Trump geopolitically, Zelenskyy argued.
“I really believe that these are the cheapest security guarantees that Ukraine can get, the cheapest for everyone,” he said.
“It will be a signal that it is not for Russia to decide who should be in NATO and who should not, but for the United States of America to decide. I think this is a great victory for Trump,” he said, evidently appealing to the president’s penchant for winners and business deals.
In addition, Zelenskyy said, Ukraine’s 800,000-strong army would be a bonus to the alliance, especially if Trump seeks to bring home US troops who are stationed overseas. Other security guarantee proposals should be backed up by sufficient weapons from the US and Europe, and support for Kyiv to develop its own defense industry, he said. Zelenskyy also said a French proposal to put European forces in Ukraine to act as a deterrent against Russian aggression is taking shape, but he expressed skepticism, saying many questions remained about the command-and-control structure and the number of troops and their positions. The issue was raised by French President Emmanuel Macron and with Trump, he said.
“I said in the presence of the two leaders that we are interested in this as a part of the security guarantee, but not as the only guarantee of safety,” he said. “That’s not enough.” He added: “Imagine, there is a contingent. The question is who is in charge? Who is the main one? What will they do if there are Russian strikes? Missiles, disembarkation, attack from the sea, crossing of the land borderline, offensive. What will they do? What are their mandates?” Associated Press journalist Volodymyr Yurchuk contributed to this report.
Rebel forces capture Congo’s Goma, leaving trail of death and destruction
By Justin Kabumba, Chinedu Asadu & Monika Pronczuk
The Associated Press
GOMA, Congo—At least 773 people were killed in eastern Congo’s largest city of Goma and its vicinity this week amid fighting with Rwanda-backed rebels who captured the city in a major escalation of a decadelong conflict, Congolese authorities said Saturday. The rebels’ advance into other areas was slowed by a weakened military that recovered some villages from them. Authorities confirmed 773 bodies and 2,880 injured persons in Goma’s morgues and hospitals, Congolese government spokesman Patrick Muyaya told a briefing in the capital, Kinshasa, adding that the death toll could be higher.
“These figures remain provisional because the rebels asked the population to clean the streets of Goma. There should be mass graves and the Rwandans took care to evacuate theirs,” said Muyaya.
Hundreds of Goma residents were re
“I’m
is a mourner,” said Jean Marcus, 25, one of whose relatives was among those killed in the fighting. M23 is the most potent of more than 100
armed groups vying for control in Congo’s mineral-rich east, which holds vast deposits critical to much of the world’s technology. They are backed by around 4,000 troops from neighboring Rwanda, according to UN experts, far more than in 2012, when they first captured Goma and held it for days in a conflict driven by ethnic grievances.
As the fighting raged on with the M23 rebels Saturday, the Congolese army recaptured the villages of Sanzi, Muganzo and Mukwidja in South Kivu’s Kalehe territory, which had fallen to the rebels earlier this week, according to two civil society officials, who spoke to The Associated Press on the condition of anonymity over fear for their safety.
The central African nation’s military has been weakened after it lost hundreds of troops and foreign mercenaries surrendered to the rebels after the fall of Goma.
UN peacekeeping chief Jean-Pierre Lacroix, meanwhile, said Friday that the M23 and Rwandan forces were about 60 kilometers (37 miles) north of South Kivu’s provincial capital of Bukavu, covering almost the same distance in the previous two days
since they started advancing along Lake Kivu on the border with Rwanda. Lacroix said the rebels “seem to be moving quite fast,” and capturing an airport a few kilometers (miles) away “would be another really significant step.”
The seizure of Goma resulted in a dire humanitarian crisis, the U.N. and aid group have said. Goma serves as a humanitarian hub critical for many of the 6 million people displaced by the conflict in eastern Congo.
The rebels said they will march all the way to Congo’s capital Kinshasa, 1,600 kilometers (1,000 miles) to the west.
UN spokesman Stéphane Dujarric also told a briefing Friday that the World Health Organization and its partners conducted an assessment with Congo’s government between January 26-30, and reported that 700 people have been killed and 2,800 injured in Goma and the vicinity. Dujarric confirmed to AP that the deaths occurred during those days.
The rebel advance has left in its wake extrajudicial killings and forced conscription of civilians, U.N. human rights office spokesman Jeremy Laurence said Friday. “We have also documented summary executions of at least 12 people by M23” from Jan. 2628, Laurence said, adding that the group has also occupied schools and hospitals in the province and are subjecting civilians to forced conscription and forced labor. Congolese forces have also been accused of sexual violence as fighting rages on in the region, Laurence said, adding the UN is verifying reports that Congolese troops raped 52 women in South Kivu. Goma’s capture has brought humanitarian operations to “a standstill, cutting off a vital lifeline for aid delivery across eastern (Congo),” said Rose Tchwenko, country director for the Mercy Corps aid group in Congo.
“The escalation of violence toward Bukavu raises fears of even greater displacement, while the breakdown of humanitarian access is leaving entire communities stranded without support,” she said. Asadu reported from Abuja, Nigeria and Pronczuk reported from Dakar, Senegal. AP journalists Ruth Alonga in Goma and Jean-Yves Kamale in Kinshasa, Congo contributed.
Israel I Ofer Kalder O n, w ho has been held hostage by Hamas in Gaza since October 7, 2023, walks next to Hamas fighters before being handed over to the red Cross by Hamas fighters in Khan Younis, southern Gaza str ip on s aturday, feb ruary 1, 2025. P HOTO/A
Fungal diseases cripple small banana farms
FBy Ada Pelonia @adapelonia
UNGAL diseases, including the dreaded Fusarium wilt, wiped out half of banana plantations tilled by smallholder farmers in the Philippines, according to the Department of Agriculture (DA).
Agriculture Secretary Francisco Tiu Laurel Jr. said the spread of Banana Fusarium Wilt Tropical Race 4 (TR4) disease and black sigatoka caused local smallholder farms, pegged at 90,000 hectares, to shrink by 50 percent. Smallholder farmers account for about 40 percent of the country’s banana growers.
to contain the diseases through better planting material, use of new fungicides...it’s basically fungicides spraying at more intervals.”
Laurel noted that the company also has a set of protocols and packages in case of infestation, which include treating the soil, replanting, and applying tea tree oil to prevent Panama disease.
“We have to train and give this package or protocols to the smallholder farmers to educate them and to enable them to apply the techniques used by corporate farmers,” he said.
“Companies like Tadeco will be giving us all the data they have— how they were able to do it and we will do a package per hectare for smallholder farms.”
it shipped in 2023.
Meanwhile, the Philippines had forged a trade deal with South Korea which aims to boost the country’s banana exports and reclaim its market share in the Korean market.
The Department of Trade and Industry (DTI) said that under the Free Trade Agreement (FTA) with Korea, the 30-percent tariff levied on banana imports had been slashed by 12 percentage points starting January 1. It added that the tariff rate will be cut by 6 percentage points annually until it gets zero-rated in the fifth year of effectivity.
For instance, he said the Tagum Agricultural Development Co. Inc. (Tadeco) had come up with measures that curbed the spread of fungal diseases.
“I went to Tadeco and they have shown me that they have been able
“The commercial farms are already coping, and they are replanting. Our main concern is the smallholder farms,” Laurel told reporters in a recent interview.
From space, parched Argentine soy fields are looking even worse
SOYBEAN and corn plants hit by a drought on the Argentine Pampas are in worse shape than public forecasts say, according to an analysis of satellite imagery.
Mickael Attia, a crop analyst with EarthDaily Analytics, sees the soy harvest shrinking to 45 million metric tons. That’s well below the Buenos Aires Grain Exchange’s estimate of 49.6 million tons and other popular forecasts tracked by traders at the Rosario Board of Trade and the US Department of Agriculture.
While those prognosticators rely mainly on farmer surveys, EarthDaily interprets satellite images, converting them into a “vegetation index” that maps crop conditions. The Vancouver-based firm is also predicting 42 million tons for Argentina’s corn harvest, compared with 49 million at the Buenos Aires exchange.
“Crop vigor is already poor in half of the country,” Attia said in an email. “The rest is holding on, but for how long? February and March weather will be key.”
Attia said that rains due to fall over the next few days will probably be light, and he compared the progress of the 2025 season to 2018, a drought year that frazzled crops.
Argentina’s soy is mainly collected in the second quarter and is then processed by trading houses, making it the world’s No. 1 supplier of soy meal and soy oil. It is No. 3 in corn, with two crops that stretch out fieldwork from March to August.
Farmers are expected to trade the harvests quickly to take advantage of temporary cuts to export taxes—until June—a policy implemented by President Javier Milei to quickly beef up central bank dollar reserves.
Crop export terminal
CHINA is deepening ties with agriculture powerhouse Brazil, with
a unit of the Asian nation’s largest food company set to open a new terminal in the port of Santos at the end of March.
Cofco International Ltd. is starting operations at the grain and sugar terminal as part of the company’s strategy to catapult itself into the upper ranks of global agricultural traders. It comes as China has been seeking out alternative grain suppliers as US President Donald Trump ratchets up tariff threats.
Agricultural powerhouse Brazil has become key to China’s efforts to diversify its purchases—it now supplies most of China’s soybeans and corn, dwarfing the US’s share.
Cofco said Friday it sources 70 percent to 75 percent of its soybeans from Brazil.
Cofco forecasts that the new terminal will ship 8 million tons of agriculture products this year, including 5.5 million tons of soybean and corn, and 2.5 million tons of sugar. In total, the company expects to ship as much as 18 million tons of soy and corn from Brazil in 2025.
The soybeans and corn volume leaving from the new Santos facility in 2025 will be similar to the total last year from two different terminals in that port, but the new site will be cheaper and faster, Sérgio Ferreira, operations director in Brazil for Cofco International, said in a presser.
“With our own grains elevators, we expect to reduce costs by 10 percent to 15 percent,” Ferreira said.
Cofco won a concession in 2022 to build the Santos terminal. Once focused on trading and producing agricultural products for the Chinese government, the company now handles crops to over 50 nations. However, Cofco’s overseas expansion is being complicated by Trump’s vow to enact a 10-percent levy on Chinese goods. That threat may be blunted by Cofco’s big bet on Brazil. Bloomberg News
Exports
THE Food and Agriculture Organization of the United Nations (FAO) recently noted that the Philippines had been dislodged as the third-largest banana ex -
porter, with Colombia overtaking the Southeast Asian nation. FAO’s preliminary report showed that Colombia shipped 2.31 million metric tons (MMT) of bananas last year, which was 29,000 metric tons (MT) more than the 2.28 MMT exported by the Philippines.
The international agency said Panama Disease continued to drag down Philippine output, with banana growers bearing the brunt of “substantial costs” to prevent the disease.
Philippine banana exports last year fell by 3.1 percent to 2.28 MMT, lower than the 2.35 MMT
“From 2012, we used to have a 98.2-percent market share in the Korean market,” DTI Export Marketing Bureau (DTI-EMB) Director Bianca Pearl Sykimte said.
“But since it became zero for some of our competitors like Vietnam, Costa Rica, and Peru, they were able to gain significant market shares in the Korean market.”
Groups back SRA import fees for alternative sweeteners
SUGAR millers and refiners have thrown their support behind the Sugar Regulatory Administration’s (SRA) decision to impose import clearance fees for alternative sweeteners.
In a joint statement, the Philippine Sugar Millers’ Association Inc. (PSMA) and the Philippine Association of Sugar Refineries Inc. (PASRI) said Sugar Order (SO) 6, which authorized the import clearance fees, should not cause spikes in confectionery and beverage prices.
Under SO 6, imported goods under Harmonized System (HS) codes 1701, 1702, and 1704 will be slapped a clearance fee of P60 per metric ton (MT).
Some of these items include sucrose, lactose, maltose, glucose,
maple syrup, honey, caramel, and sugar confectionery items, such as chewing gum and white chocolate not containing cocoa.
“Except for fructose, the fee is only P60 per MT, equivalent to P0.06 per kilogram. This should not have a significant effect on consumer prices,” the two groups said.
According to PSMA President Terence Uygongco, SO 6 would serve as “a crucial tool” to accurately assess the supply and demand for sugar in the country.
“Sugar producers are puzzled by the weakening demand for sugar. Given the country’s growing population and a strengthening economy, we would expect an increase in sugar consumption.”
However, he noted that demand has “remarkably” declined, which
was even lower compared with the levels seen during the Covid-19 lockdowns.
“The SRA has pointed out that SO6 was issued to monitor the entry of alternative sweeteners and sweetened products, which impact the sugar market that in turn affect our local farmers.”
For his part, PASRI President Renato Cabati said the import clearance fees are not the same as import permits.
“Reading through the order, it is clear that it does not impose restrictions on the importation of alternative sweeteners. It only requires an SRA clearance for release, which is not the same as an import permit,” Cabati said
“Anyone can still import sweeteners, provided they comply with
the clearance process. The fees and requirements outlined in the order are standard procedures for sugar importation. SRA may simply be seeking to establish uniform regulations for both sugar and other sweeteners.”
The groups also noted that SO 6 underwent “a thorough legal and regulatory review before its issuance.”
“There should be no doubt that SRA acted within its mandate,” they said.
SRA Administrator Pablo Luis Azcona confirmed that the implementation of SO 6 has been suspended pending further consultations with industry representatives. It was supposed to be implemented last February 1. Ada Pelonia
Govt needs 1M kilos of natural fibers for uniforms–PTRI
By Bless Aubrey Ogerio
THE government will need around 1 million kilograms of banana and pineapple fibers annually for the uniforms of state workers, according to the Philippine Textile Research Institute (PTRI).
PTRI supervising researcher Jenneli Caya told the BusinessMirror that while the attached agency of the Department of Science and Technology does not purchase large amounts of fibers, it plays an important role in identifying the required quantities for the needs of the government.
“To supply uniforms for 1.9 million government employees, we need around 482,000 kilograms of pineapple fiber and 640,000 kilograms of banana fiber,” Caya said. “These requirements are substantial, especially
when considering that the fibers must come from local sources.”
Textile institution director Julius Leaño also elaborated on the fibers being prioritized for production. “We base it on the fabric requirements we need to produce,” Leaño told the BusinessMirror . “Technically, we are working heavily on bamboo and pineapple fibers, and less on banana and abaca.”
Caya said some 320 hectares of pineapple plantations and 100 hectares of banana plantations would meet the growing demand for natural fibers for government uniforms.
“This is the requirement for one set of uniforms, which is needed for just one day’s use.
Multiply that by the four days a week that government employees are working, and you can see how substantial the demand is
for fibers like pineapple, banana, and abaca.”
Under the Philippine Tropical Fabrics Law, the government is mandated to use locally produced fabrics for official uniforms and other applications in government offices and functions.
Last year, the Philippine Army entered into a memorandum of understanding with PTRI to collaborate on developing locally produced fabric for military uniforms.
Despite challenges like climate change and natural disasters, Leaño noted that the local textile industry is gaining traction as consumers and manufacturers increasingly prioritize eco-friendly options.
“The demand is there, and it’s growing,” Leaño said. “Local manufacturers, especially those producing government uniforms,
Purchase of imported goats, sheep secures DA nod
THE Department of Agriculture (DA) has approved the importation of additional goats and sheep in its bid to bolster the country’s livestock industry.
Agriculture Secretary Francisco Tiu Laurel Jr. said the importation of 1,520 breeder goats and 4,310 sheep would restock and upgrade local herds, primarily in Mindanao.
“The imported animals, which will help improve the genetic quality of local livestock, are part of efforts to strengthen the country’s goat and sheep farming sectors.”
The goats, which comprise 155 Anglo
Nubian bucks, 175 Boer bucks, and 1,190 Boer does, will be distributed to nucleus and multiplier farms in Barili, Cebu, and Makilala, North Cotabato.
Meanwhile, the sheep, including 260 Dorper rams and 4,050 Dorper ewes, will be allocated for distribution in North Cotabato.
The agency said the goats and sheep should meet the required standards. For one, both small ruminants must be between 6 and 15 months old.
It added that goats must weigh at least 35 kilos for bucks and 30 kilos for does after quarantine, while sheep must weigh at least 40 kilos for rams and 35 kilos for ewes. The
imported sheep must be full-blooded and come from registered farms.
The DA said Anglo-Nubian goats are highly valued for their meat, milk, and hide production, though they are not heavy milk producers. Boer goats, primarily raised for meat, are among the most sought-after livestock breeds.
It also said that breeder goats from the US can sell for anywhere between $800 to $5,000 depending on quality. Dorper sheep, known for their rapid growth and meat production, typically sell for around $500 to $1,500 each.
The DA noted that it has yet to schedule
are looking for sustainable, locally made fabrics.”
“It’s not just about looking good. It’s about supporting our farmers, our culture, and the environment. People want to wear something that benefits the country.”
Latest Philippine Statistics Authority (PSA) data revealed that the Philippine economy grew by just 5.2 percent in Q4 2024, due largely to extreme weather which caused disruptions in the agriculture sector and other industries.
(See: https://businessmirror. com.ph/2025/01/30/q4-gdpgrowth-at-5-2-as-typhoonbattered-farm-sector-shrinks/) PSA also reported a 3.1 percent decline in crop production, valued at P281.55 billion in constant 2018 prices. Pineapple, banana, and abaca saw decreases of 1.1 percent, 5.8 percent and 0.2 percent, respectively.
the bidding for the animal importation, but funding for the goat and sheep purchases has already been secured under the 2024 budget.
It added that the imported small ruminants must be delivered within 90 days from the issuance of the notice of award by the agency’s National Livestock Program (NLP).
“This
The shameful pork barrel politics: How taxpayer money is being squandered
THe administration’s allocation of nearly one-fifth of the national budget to pork barrel projects over the past three years, as cited by a watchdog, is a blatant disregard of the pressing needs of the Filipino people. This staggering sum, totaling P2.077 trillion from 2023 to 2025, represents a shocking misallocation of resources, diverting funds desperately needed for crucial national development initiatives. As highlighted by Institute for Leadership, empowerment and Democracy executive Director Zyza Nadine Suzara, this prioritization of pork barrel spending comes at the expense of addressing critical issues such as learning poverty, inadequate support for farmers and fisherfolk, widespread poverty, and limited healthcare access. (Read the BusinessMirror story: “Nearly a fifth of national government budget went to pork barrel,” January 29, 2025).
Suzara’s assertion that the 2025 budget, at P6.326 trillion, is the “most corrupt and excessively greedy” budget to date is a damning indictment of the current administration’s fiscal priorities. The manipulation of unprogrammed appropriations (UAs), initially intended for unforeseen circumstances, is particularly egregious. The significant increase in UAs over the past three years, from a proposed P151.639 billion in 2022 to a staggering P532 billion in 2025, reveals a deliberate strategy to conceal the true extent of pork barrel spending. This tactic effectively masks the prioritization of legislators’ pet projects over vital national programs.
The consequences of this fiscal mismanagement are far-reaching. Significant budget cuts to essential departments, such as the P296 billion reduction in the Department of Transportation’s budget over three years, have resulted in crucial infrastructure projects being relegated to the UAs, delaying or potentially jeopardizing their completion. Similarly, the slashing of P567 billion from Special Purpose Funds has impacted vital programs like the Universal Access to Tertiary Education and the Revised AFP Modernization Program. This prioritization of pork barrel projects over strategic national development initiatives is not only fiscally irresponsible but also morally reprehensible.
The increased allocation to “soft projects” or “ayuda,” such as Akap, MAIP, and Tupad, while seemingly beneficial, serves as a smokescreen for the underlying issue. These programs, while providing temporary relief, fail to address the root causes of poverty and inequality. They are essentially a form of vote-buying, masking the deeper problem of systemic corruption and misallocation of funds.
The solution lies in transparency and accountability. Suzara’s call for the public release of the bicameral conference committee’s list of congressional insertions is crucial. Taxpayers deserve to know how their hard-earned money is being spent and hold their elected officials accountable for this blatant misuse of public funds.
Without transparency and a fundamental shift in budgetary priorities, the Philippines risks further economic instability and a deepening of social inequalities. The continued prioritization of pork barrel politics over genuine national development is a betrayal of the Filipino people and a grave threat to the nation’s future.
It would do well for the Marcos administration to listen to experts such as Suzara and allow public scrutiny of the budgetary process. It is essential to redirect funds from pork barrel allocations to critical social services and infrastructure investments. Ignoring this call will only worsen the country’s economic challenges and diminish trust in the democratic process. There is a pressing need to change direction before the damage becomes irreparable and the consequences become catastrophic.
BusinessMirror
T.
Online courses with esteemed culture bearers
IRISING SUN
N a world increasingly dominated by technology and rapid change, preserving our cultural heritage has never been more crucial. I believe reflecting on how we can actively engage with our rich traditions and arts is important. This is where the upcoming webinar series offered by The Tao Foundation for Culture and Arts comes in. These sessions provide an invaluable opportunity for Filipinos both here and abroad to connect with our cultural roots.
The courses, happening on February 15, 16, 22, and 23, and aptly titled “2025 Himig, Tula, at Galaw Ninuno Philippine Traditional Arts,” focus on various traditional arts from different regions of the Philippines. They feature esteemed Culture Bearers who are not only masters of their craft but also passionate about imparting their knowledge to the next generation. This initiative is particularly significant as it aims to bridge the gap between generations and geographies. It allows participants from Luzon, Visayas, Mindanao, and even overseas to engage with their heritage
Illuminating
in a meaningful way. Here are the courses being offered: Maguindanaon Kutyapi (Central Mindanao 2-string lute) with Guro Karatuan Kalanduyan; Maguindanaon Kulintang (Central Mindanao gong-chime set) with Guro Aga Mayo Butocan; Yakan Pansak (South Western Mindanao traditional dance) with Guro Adelaida Ahaddas; Tausug Langka Kuntaw (Sulu Archipelago martial art-dance style) with Guro Arafa Biste; Ibanag Berso (Northern Luzon ballad) with Guro Alfonso George Bacud Andal; Hiligaynon Komposo (Western Visayan ballad) with Guro “Tay Pirot”
Cultural education is essential for fostering a sense of identity and belonging. In a country as diverse as the Philippines, where over 175 languages are spoken and countless traditions exist, understanding our cultural heritage can help us navigate our collective identity. The courses being offered are not just about learning traditional arts; they are about embracing who we are as Filipinos.
Virgilio Petcheller; Panay Bukidnon Tambol (Western Visayan drumming) with Guro “Tay Mansit” Mansueto Parle, Sr.; and Panay Bukidnon Subing (Western Visayan bamboo jaw harp) with Guro Rennel S. Lavilla and Guro Rolinda A. Gilbaliga.
Cultural education is essential for fostering a sense of identity and belonging. In a country as diverse as the Philippines, where over 175 languages are spoken and countless traditions exist, understanding our cultural heritage can help us navigate our collective identity. The courses being offered are not just about learning traditional arts;
they are about embracing who we are as Filipinos. They provide a platform for individuals to explore their roots, learn about their ancestors’ practices, and appreciate the beauty of our cultural diversity. Moreover, these online classes come at a time when many Filipinos are seeking ways to reconnect with their culture amidst the challenges posed by globalization. As we become more interconnected through technology, there is a risk of losing touch with our unique identities. By participating in these courses, we can counteract this trend and ensure that our traditions are passed down to future generations. For a nominal fee of P500 for talk-demos (1.5 hours) and P 2,500 for intensive sessions (2.5 hours per day for two days), participants can gain insights from experts without the burden of extensive travel or accommodation costs. For those abroad, the fees are equally reasonable at $30 and $90, respectively. You may join the talk-demos or the intensive sessions for one or all of the eight courses. The deadline for enrollment is February 8. Enroll in one or multiple courses that resonate with you. To register and/or get more information, visit this link: https://linktr.ee/htgn2025
judicial reasoning: The significance of footnotes in the annulment of judgments
ILITO GAGNI
T is always enlightening to examine the footnotes in a court decision, as they illuminate the reasoning behind judicial verdicts and deepen our understanding of how courts resolve legal disputes. Footnotes often provide valuable references to past rulings, enriching the body of jurisprudence and offering a broader perspective on the development of legal principles.
By carefully considering these notes, one can grasp the underlying wisdom in the decisions and gain a complete view of how the judicial system operates. A particularly instructive case on the application of Rule 47 of the Rules of Court is the Court of Appeals’ (CA) decision denying Cathay Land’s petition, which sought to annul a ruling from the Regional Trial Court (RTC) of Carmona regarding a land dispute.
The ruling of the Special 15th Division of the CA provides important insights into the nuances of Rule 47, which governs the annul-
ment of judgments. A key footnote in the CA’s decision references the Supreme Court’s ruling in Chico v. Ciudadano (GR No. 249815), authored by Chief Justice Alexander Gesmundo. This citation highlights that Rule 47 is not a mechanism for re-litigating a case but an extraordinary remedy that can be invoked only in exceptional circumstances. In the case at hand, Cathay Land’s petition to annul the RTC Carmona’s decision was deemed “improper.”
The CA ruled that a petition for annulment under Rule 47 is only available in exceptional cases where a
party, without fault on its part, fails to pursue the ordinary remedies of appeal, new trial, or petition for relief. It said a petition for annulment cannot substitute for remedies that were lost due to a party’s own negligence. Thus, Cathay Land’s failure to file an appeal within the 15-day reglementary period rendered the RTC Carmona’s decision final and executory.
In this case, Cathay Land had sought to overturn a decision involving a land dispute over 88,171 square meters of property in Barangay Lantic, Carmona, Cavite. According to the Bureau of Internal Revenue, the land’s zonal value is approximately P13,600 per square meter. The footnote referencing the Chico case, where Chief Justice Gesmundo also penned the decision, underscores how footnotes in judicial decisions serve to guide legal reasoning and inform future cases.
The CA further emphasized that Cathay Land could have pursued a motion for reconsideration of the RTC’s decision dated July 7, 2023, or filed an appeal within the prescribed period. The failure to do so meant that the decision became final and executory.
Additionally, the CA found no merit in Cathay Land’s petition under Rule 47, noting that Rule 47 allows for annulment of a final judgment only on the grounds of (1) extrinsic fraud or (2) lack of jurisdiction. Since Cathay Land had actively participated in the proceedings before the RTC, the CA found no exceptional circumstance that would warrant the annulment of the judgment. This decision by the CA offers a valuable lesson on the correct application of Rule 47 and underscores its function as an extraordinary remedy. It serves as a reminder that the law seeks to promote finality and prevent endless re-litigation. It also highlights the importance of timely and diligent legal action when pursuing remedies within the judicial system. Jurisprudence, the study of law, provides the theoretical framework for understanding legal systems, principles, and the way laws apply in society. Derived from the Latin “jurisprudentia,” meaning “knowledge of the law,” jurisprudence helps individuals grasp the deeper meanings and implications of legal concepts. It is a field that covers various per-
Atty. Jose Ferdinand M. Rojas II
Enough of the divergence The focus on learning
RJoel L. Tan-Torres
DEBIT CREDIT
eCeNT developments in the past weeks focused the lens on the learning and education sector.
Several issues were raised when Republic Act 12116 or the 2025 General Appropriations Act was signed into law in December 2024. The GAA provided a budget for government expenditures of P6.352 trillion for 2025. A few weeks after the passage of the budget law, several critics questioned that the allocation for the education sector for 2025 did not meet the constitutional provision requiring the top funding priority to the education sector.
The 1987 constitution provides in Article x i V, section 5(5) that “The state shall assign the highest budgetary priority to education and ensure that teaching will attract and retain its rightful share of the best available talents through adequate remuneration and other means of job satisfaction and fulfillment.”
sometime in late January 2025, a petition was filed before the supreme court (sc) to declare as unconstitutional the GAA. The case, filed by Davao representative isidro Ungab and former executive secretary Vic rodriguez, raised several violations of the constitution, including the failure to allocate the largest amount of budget for the education sector.
The Department of Budget and Management insisted that such was the case with the P1.055 trillion budget allocated for education, followed by the public works sector with P1.007 trillion in the 2025 GAA.
The petitioners, however, contended that the computation for the budgetary allocation for education includes the budgets of agencies that, in previous years, were under non-education sectors, such as the Local Government Academy, Philippine National Police Academy, Philippine Military Academy, and the National Defense college of the Philippines. The total budget of these and similar agencies amount to P90.7 billion.
Prior to 2025, the education sector’s budget consisted only of those allocated to the Department of e ducation (Depe d ), c o mmission on Higher education (cHeD), Technology e ducation and s k ills Development Authority (T e sDA), and the state Universities and colleges (sUc). For 2025, the budget for these agencies was for the Deped (P782 billion), cHeD (P34.88 billion), sUcs (P127.23 billion), and the TesDA (P20.98 billion), or a total of P964.3 billion.
i will not expound anymore about this matter pending in the supreme court. Let’s just await for the decision to provide guidance on how to effect the constitutional mandate of allocating the highest priority and funding to the education sector.
The other major development is the release of the second annual report of the second congressional commission on education (eDcoM 2) on January 27, 2025. The report was entitled “Year Two report: Fixing the Foundations” https://edcom2. gov.ph/media/2025. republic Act 11899 was passed into law in July 2022, creating eD-
spectives such as natural law, legal realism, and critical legal studies, among others. i n this case, the c A’s decision serves as a demonstration of how jurisprudence and judicial decisions shape the understanding of the law, particularly when it comes to complex procedures like ru le 47. The High court’s ruling in the Chico v. Ciudadano case, as cited in the footnote, further illustrates the strict standards under ru le 47. chief Justice Gesmundo emphasized that petitions for annulment must be based on valid grounds, such as fraud, mistake, or excusable negligence. Furthermore, such petitions must be filed within a reasonable
LcoM 2, with the mandate of conducting a “comprehensive national assessment and evaluation of the performance of the Philippine education sector for the purpose of recommending transformative, concrete and targeted reforms in the sector with the end in view of making the Philippines globally competitive in both education and labor markets.”
eDcoM 2 has a term of three years, from 2023 to 2025, to complete its study and assessment. The commission consists of representatives from the private sector, government, and congress.
eDcoM 2 follows the work of the First congressional commission on education established by a Joint resolution of the eighth Philippine congress on June 17, 1990. it has been about 35 years since then, and the state of our education system has apparently become worse.
eDcoM 2’s Year Two report contains a compilation of 97 research studies and insights gained from 45 consultations, school visits, and public hearings throughout 2024. it presents a comprehensive overview of the profound educational challenges from early childhood to higher education and lifelong learning.
Now winding up its term in 2025, eDcoM 2 has the challenging mandate of providing solutions to uplift the quality level of education in the Philippines. i sense that the recent initiatives, including legislation, arising from the recommendations of eDcoM 2 have not been too innovative or groundbreaking enough to jumpstart the measures needed to improve the dire state of our education system and student competence levels.
We have to overhaul the weaknesses of our education system cited in recent studies, such as the Programme for international student Assessment 2022, the World Bank’s “2022 state of Global Learning Poverty” and other assessment reports. We have to do more in individually alleviating the “learning crisis” in our country.
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 is now back to his tax and consultancy practice and can be contacted at joeltantorress@yahoo. com and his firm JL2T Consultancy.
time—specifically, within 60 days of learning about the judgment, and no later than six months from the date of the decision. in the Chico case, the petitioner failed to demonstrate any of the recognized grounds for annulment, and as a result, the supreme court denied the petition. Ultimately, both the Chico and c athay Land cases reaffirm the principle that r u le 47 is an extraordinary remedy, designed for exceptional circumstances. As the court emphasized, judicial finality is a cornerstone of the legal system, and petitioners must meet strict procedural requirements and present compelling evidence to justify overturning a final decision. The principles of due process and judicial finality must always be respected, ensuring that the law is applied fairly and consistently.
Siegfred Bueno Mison, Esq.
THE PATRIOT
AST January 31, two rallies were held just a block away from one another, both presumably against corruption. At the People Power Monument, a morning rally by groups under former Senator Antonio Trillanes III took place to clamor for the impeachment of Vice President Sara Duterte for her misconduct. True to the signature style of the former naval officer, this rally was well attended by participants who predominantly donned white shirts.
Later that afternoon at e d sa shrine was an indignation rally by the c lergy and citizens for Good Governance (ccGG), as well as the catholic church and other religious organizations, retired military and uniformed personnel, youth, women’s groups, business and professionals, and civil society. This rally, with participants predominantly wearing black shirts, was to promote transparency, accountability, and justice, specifically harping on the lack thereof of both VP sara and President Bongbong Marcos (BBM)—the former on her alleged disbursement of confidential funds, the latter on his alleged negligence to properly remedy a defective, if not unconsti-
tutional, national budget.
Per PMAAA i chairman retired General r aul Gonzales, its entire membership of about 11,000 denounced corruption in a General Assembly a few days before the scheduled rally…so the audacious move was not merely a Board action. still, he emphasized that PMAAA i remains to be apolitical, as corruption is an issue that transcends political colors or ideology.
it did surprise me that PMAAA i was more active than usual—again, they have been apolitical for many years. But i do see that the move focuses on convergence of positions instead of divergence, perhaps similar to how one particular spiritual
group approaches different religions in its congregation. This particularly reminds me of how r adha soami satsang Beas (satsang for short), whose members come from different religions, strongly espouses meditation as the way where its members can commune with our Almighty God. Whether a Jew or c h ristian, satsang members tithe to this, to the point that 10 percent of their day is spent on meditation. Author J. Packer describes meditation as “an activity of holy thought, consciously performed in the presence of God, under the eye of God, by the help of God, as a means of communion with God.” ergo, satsang followers focus on the convergence of all faiths in the principle of meditation, as they practically observe one of the more inspiring verses in the Bible: “Blessed is the one...whose delight is in the law of the Lord, and who meditates on his law day and night” (Psalm 1:1–2 NIV ). For as long as a person believes in God and communicates with Him through meditation, then he stands together with his brothers and sisters, who are reminded to think whatever is true, whatever is noble, whatever is right, whatever is pure, whatever is lovely, whatever is admirable—if anything is excellent or praiseworthy (Philippians 4:8). The pursuit of truth and jus-
tice, and the quest for unity and good governance, is not only noble but pure in every organization. it i s always admirable to expose the evils of corruption, especially in this day and age where political dynasties lord over their fiefdoms with impunity! every Filipino and every believer in the Almighty God, regardless of religion, should relentlessly demand these things from their government. in the fight against corruption, whether committed by one or another, Filipinos should say no to divergence of positions or political parties and a resounding yes to convergence. We must unite in the face of corruption, all 99 percent of us, and demand transparency and accountability from our public servants who are entrusted with the money we contribute as taxpayers and the country we love as our home.
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.
Tariffs seen disrupting oil market, raising US pump prices
By Robert Tuttle
US President Donald Trump’s tariffs on imports from Canada and Mexico threaten to disrupt North America’s tightly integrated oil market and push up gasoline prices for American motorists.
Trump on saturday signed orders implementing a levy of 10 percent on imports of canadian energy, along with general levies of 25 percent on canada and Mexico and 10 percent on china, according to White House officials who briefed reporters on condition of anonymity. The tariffs take effect at 12:01 a.m. on Tuesday.
Tariffs on ca nada and Mexico may curtail shipments from the top two suppliers of foreign crude to the Us Almost all of canada’s roughly 4 million barrels of daily crude exports flow to its southern neighbor, and about 500,000 barrels comes into the Us from Mexico, the bulk of it purchased by Valero energy corp. for its plants on the Gulf coast. in the Us Midwest, which is home to 23 percent of Us refining capacity, refiners are so reliant on canadian supplies that pipelines that once carried oil from the Gulf coast to the Midwest have been reversed, leaving fuel makers little access to alternative grades of oil.
“canadian oil tariffs would risk unpopular, if temporary, gasoline price increases in the Us Midwest,” Goldman sachs Group inc. analysts
including samantha Dart and Daan struyven said in a recent note. energy imports from canada were hit with the lower 10 percent rate to minimize upward pressure on gasoline and home-heating oil prices, the White House officials said. canada is responding to the Us levies with 25 percent counter-tariffs on c$155 billion ($107 billion) worth of American-made products. Prime Minister Justin Trudeau, speaking at a news conference, didn’t specifically rule out measures such as taxing or restricting energy exports to the Us but said no one industry or region should bear an undue burden of canada’s response.
Last week, fuel makers warned that the levies would erode refining profits and upend oil markets. Us plants could cut refining rates in response, executives at Valero executives said Thursday, while Phillips 66 cautioned that canadian crude prices will tumble.
“We are hopeful a resolution can be quickly reached with our North American neighbors so that crude oil, refined products and petrochemicals are removed from the tariff sched-
ule before consumers feel the impact,” chet Thompson, president of the American Fuel & Petrochemical Manufacturers trade group, said in an e-mailed statement.
The American Petroleum i nstitute said in a statement it will continue to work with the Trump administration on full exclusions “that protect energy affordability for consumers, expand the nation’s energy advantage and support American jobs.”
The tariffs’ implementation will be key in determining the effect on the market. if producers are allowed to export oil off the Gulf coast to non-Us buyers without tariffs, the hit to canadian oil prices would be muted. Also unclear is how the tariffs will affect the western canadian oil that’s shipped through the Us en route to canadian refineries in ontario and Montreal.
Western canadian select crude prices have already weakened in anticipation of the levies, trading at $15.50 a barrel less than Us benchmark West Texas intermediate on Friday, the widest discount since July 30, according to General index prices posted on Bloomberg.
A 10 percent tariff may widen the discount to about $16 to $17 a barrel, er ic Nuttall, a partner and senior portfolio manager at Ninepoint Partners, said in a post on x on Friday. still, canadian producers may be
partly cushioned by a weaker canadian dollar, he said. Also, maintenance season in the oil sands typically starts around April and reduces crude output, and Nuttall said that work may help blunt the tariff effects as well.
‘Already discounting’ i WoULD go as far to say that most stocks are already discounting a 10 percent tariff,” he said in the post. c a nada has one partial protection against the tariffs: the newly expanded Trans Mountain pipeline running from Alberta to a marine terminal near Vancouver. The expanded line, which started operation in May, is underused because of its expensive tolls, but it may fill up to maximize tarifffree shipments to Asia at the expense of c a lifornia refineries, which now import about half the oil from the line. The canadian Association of Petroleum Producers trade group said it’s difficult to predict how the tariffs will affect supply, demand and trading patterns, but that it’s “deeply disappointed” by the tariffs.
“These tariffs undermine our mutually beneficial relationship and are likely to increase costs and inflation for American consumers while damaging the economies of both countries,” c A PP President Lisa Baiton said in a statement. With assistance from Nathan Risser and Lucia Kassai /Bloomberg
Mexico pledges tariffs on US while calling for cooperation
By Alex Vasquez
exico’s President c lau-
Mdia s heinbaum said she instructed the economy minister to kick off a response plan that includes retaliatory tariffs against Us President Donald Trump’s promised 25 percent levies.
s h einbaum said the country would also implement non-tariff measures, while calling for cooperation with the Us on topics including security, migration and addressing the fentanyl public health crisis, according to a post on x saturday night.
“it is not by imposing tariffs that problems are solved, but by talking and dialogue, as we have done in recent weeks with your state Department to address the phenomenon of migration,” sheinbaum said to Trump in the post.
The Mexican president asked economy Minister Marcelo ebrard to “implement the Plan B” her ad-
ministration has been working on to deal with trade levies. The plan “includes tariff and non-tariff measures in defense of Mexico’s interests,” she added, without offering details on the scope.
Trump signed orders for tariffs of 25 percent on Mexico and canada and 10 percent on china, according to White House officials. The tariffs take effect at 12:01 a.m. on Tuesday, and it’s unclear if that offers a lastchance window for the biggest Us trade partners to negotiate.
“Why not implement tariffs as of now, or tomorrow, or Monday? Why Tuesday?,” said Gabriel casillas, chief Latin America economist at Barclays Plc. “it seems that Us president Trump wants something in return before tariffs are effectively imposed.”
sheinbaum rejected the Trump administration’s accusations that her government has ties to criminal cartels that traffic drugs into the Us T he Mexican president, noting that
her country cooperates extensively to stop drug trafficking—seizing 40 tons of drugs in four months—suggested Trump take care of street drug sales and the fentanyl consumption crisis in the Us she said that drug consumption and distribution is a public health problem that the Us government has not addressed. she offered to Trump that the two countries create a working group to deal with security and health.
“if the Us wants to fight the criminal groups that traffic drugs and generate violence, we must work together in a comprehensive manner,” sheinbaum said. “Mexico doesn’t want confrontation.”
No confrontation
TrU MP s orders include retaliation clauses that would increase Us tariffs if the countries respond in kind, as Mexico and c a nada have pledged to do. The new measures will be on top of existing trade lev-
ies on those countries. sheinbaum and c a nadian Prime Minister Justin Trudeau are expected to speak on saturday night.
Trump has threatened to impose tariffs on Mexico and canada, the largest Us trading partners, since his presidential campaign. He has said the levies could have been avoided if those countries helped reduce the crossing of undocumented migrants and drug trafficking into the Us sheinbaum and Trudeau have shown their governments’ efforts to solve both issues in an attempt to satisfy Trump’s wishes.
Trump’s decision affects the UsMexico- c a nada free trade agreement, or UsMc A , that he promoted during his first administration. sheinbaum said on Friday that the tariffs would “set aside” the trade pact and raise the prices of cars, refrigerators, computers, fruits and beer in the Us With assistance from Michael O’Boyle, Maya Averbuch, Maria Elena Vizcaino and Valentine Hilaire /Bloomberg
Gagni . . .
Monday, February 3, 2025 CAR PARTS MAKERS WANT 40% LOCAL IN PHL-ASSEMBLED CARS
PTRI: Textile industry strong despite economic headwinds
AMIDBy Bless Aubrey Ogerio
the challenges posed by the country’s economic performance in 2024, the Philippine Textile Research Institute (PTRI) remains confident in the strength of the textile industry.
PTRI Director Julius Leaño on Friday gave assurances that the textile sector’s supply chain remains robust and efficient.
“As long as Filipinos are wearing clothes, the textile industry will remain relevant,” Leaño said at the TELACon press conference at the Philippine International Convention Center.
While the country grew economically by only 5.2 percent, falling short of the 6 percent target, he emphasized that the sector has evolved beyond its early stages, maturing into a vital part of the economy.
“Actually, we’re past the stage where we’re still courting. It’s more about giving all these assurances because the supply chain is long. It’s from raw material all the way to the downstream,” he said.
According to the Department of Budget and Management, the PTRI emphasized its ongoing investments in textile manufacturing to bolster job creation and stability within the industry.
The textile institute also continues to back joint research initiatives, including those under the Department of Science Technology’s Joint Research Project for this year.
For 2025, PTRI’s budget has increased to P319 million, up from P254 million in 2024.
Leaño further noted the importance of sustained investment to not only support growth but also to fortify the industry’s long-term stability.
“The [garment manufacturers] are also talking amongst themselves. That’s a big movement as far
as the investment climate is concerned. Because if there’s a priority, they’ll follow it for sure,” he said.
According to PTRI, Philippine textile and garment manufacturing uses various machines and processes, including ring and open-end spinning; air-jet, rapier, and shuttle weaving; circular and flatbed knitting; jet dyeing, stenter, and sanforizing finishing; and overlock, flatlock, and singleneedle lockstitch sewing.
Emerging textile recycling efforts
utilize shredding, opening, and carding machines to process post-industrial waste fibers, which are then formed into new products using nonwoven and spinning machines.
Last December, national scientist Lourdes Cruz noted the resurgence of the Philippine textile industry, particularly with its focus on natural fibers and sustainable materials.
THE Department of Migrant Workers (DMW) met with the Filipino community in the Kingdom of Saudi Arabia (KSA) during the weekend to improve their working conditions and address their concerns.
DMW Secretary Hans J. Cacdac held the town hall meeting at the sidelines of the Global Labor Market Conference (GLMC) 2025 Ministerial Roundtable Discussion in Riyadh KSA.
“The town hall meeting was in accordance with the directives of President Ferdinand R. Marcos Jr. in ensuring that every OFW feels protected, valued, and provided with dignified employment,” DMW said in a statement. Cacdac was accompanied at the meeting by Chargé d’Affaires Rommel Romato of the Philippine Embassy. They discussed how to better protect the rights and welfare of OFWs
THE local car parts manufacturing sector is urging the government to raise the domestic content of Philippine-assembled vehicles from 20 percent to 40 percent by 2030.
In a statement at the weekend, the Philippine Parts Makers Association (PPMA) cited the need for the Department of Trade and Industry (DTI), Congress and industry leaders to draft a legislation with “enforceable” deadlines and funding for the sector. They also batted for penalties for non-compliance in relation to the domestic content requirement that would be set.
The industry group made the call on the back of job and revenue losses since 2021.
“Delays cost us P1.2 billion monthly in lost productivity. Allocating P5 billion from the 2025 budget to modernize SMEs and fast-tracking anti-dumping cases are no longer optional. The data is undeniable—we need action, not hesitation,” PPMA President Ferdi Raquelsantos said. PPMA also noted that since 2021, some 12,000 jobs have been shed and 20 percent of Filipino-owned suppliers “risk shuttering” by 2026.
Among the Philippines’s neighbors, Thailand and Vietnam invest P300-500 billion
yearly in automotive policies, which the group said is dominating Asean’s P1.2-trillion aftermarket.
With this, Raquelsantos warned: “Our competitors aren’t waiting. Steel part imports jumped 40 percent in 2023, while electronics shipments— often priced below cost—rose 25 percent. Without robust safeguards, we surrender our future.”
PPMA is urging the DTI to adopt “critical” reforms, starting with stricter safeguards such as tariffs on high-volume imports like (electric vehicle) EV components, which the group said is poised to grow 250 percent globally by 2030.
“Equally vital is real-time trade monitoring to combat predatory pricing, mirroring Malaysia’s policy framework that boosted local content to 40 percent,” the industry group noted.
PPMA called for “urgent collaboration” between the DTI, Congress and industry leaders to draft legislation with enforceable deadlines and funding.
“The 2021 attempt proved the government’s heart was in the right place. Now, we need its spine. Let 2025 be the year we marry political
See “DMW” A2 See “Car” A2
FAITH,
FAITH, CULTURE, RENEWAL AND SYNODALITY:
CULTURE, RENEWAL AND SYNODALITY: A Chinese New Year Celebration with H.E. Jose Cardinal Advincula at the Binondo Chinese Parish
A Chinese New Year Celebration with H.E. Jose Cardinal Advincula at the Binondo Chinese Parish
MMANILA Archbishop Jose F. Cardinal Advincula presided over the Chinese New Year Thanksgiving Mass and Ancestral Veneration Rites at Our Lady of the Most Holy Rosary - Binondo Chinese Parish on January 31 at 5:30 PM. This celebration artfully blended the Church’s liturgical traditions with the rich cultural practices of the Chinese-Filipino community, offering a unique expression of faith that honored both heritage and devotion.
ANILA Archbishop Jose F. Cardinal Advincula presided over the Chinese New Year Thanksgiving Mass and Ancestral Veneration Rites at Our Lady of the Most Holy Rosary - Binondo Chinese Parish on January 31 at 5:30 PM. This celebration artfully blended the Church’s liturgical traditions with the rich cultural practices of the Chinese-Filipino community, offering a unique expression of faith that honored both heritage and devotion.
The 2025 Lunar Year of the Snake, alongside this Jubilee Holy Year, calls us to a deep spiritual renewal. The snake, rich in dual symbolism, represents both temptation and healing. While it symbolizes temptation in Genesis, it becomes a symbol of healing in Numbers 21:9, pointing toward Christ’s redemptive sacrifice on the Cross, as Jesus Himself declared in John 3:14-15.
The 2025 Lunar Year of the Snake, alongside this Jubilee Holy Year, calls us to a deep spiritual renewal. The snake, rich in dual symbolism, represents both temptation and healing. While it symbolizes temptation in Genesis, it becomes a symbol of healing in Numbers 21:9, pointing toward Christ’s redemptive sacrifice on the Cross, as Jesus Himself declared in John 3:14-15.
As we reflect on the 2,025th anniversary of the Incarnation of Jesus, we are reminded of His message—that He makes all things new. Through His transformative love, He offers us grace to heal, forgive, and renew our relationship with God and one another. This year, let us embrace His grace and walk together in faith, experiencing the renewal He offers through His love and sacrifice.
As we reflect on the 2,025th anniversary of the Incarnation of Jesus, we are reminded of His message—that He makes all things new. Through His transformative love, He offers us grace to heal, forgive, and renew our relationship with God and one another. This year, let us embrace His grace and walk together in faith, experiencing the renewal He offers through His love and sacrifice.
The Binondo Chinese Parish, the Mother Parish of the ChineseFilipino Apostolate, serves as a powerful testament to how faith transcends differences, unites communities, and calls the FilipinoChinese community to be instruments of peace, reconciliation, and love. Here, cultural heritage and Catholic devotion intertwine, demonstrating how faith brings people together, breaking down barriers and fostering harmony.
The Binondo Chinese Parish, the Mother Parish of the ChineseFilipino Apostolate, serves as a powerful testament to how faith transcends differences, unites communities, and calls the FilipinoChinese community to be instruments of peace, reconciliation, and love. Here, cultural heritage and Catholic devotion intertwine, demonstrating how faith brings people together, breaking down barriers and fostering harmony.
In his homily, His Eminence Cardinal Advincula echoed these themes, reminding us that this season of renewal is not only personal but also synodal, rooted in acts of love and reconciliation. Below is a synthesized version of the Cardinal’s homily:
In his homily, His Eminence Cardinal Advincula echoed these themes, reminding us that this season of renewal is not only personal but also synodal, rooted in acts of love and reconciliation. Below is a synthesized version of the Cardinal’s homily:
“The Lunar New Year is a moment of gratitude, renewal, and unity. Pope Francis reminds us
“The Lunar New Year is a moment of gratitude, renewal, and unity. Pope Francis reminds us
that this celebration is not only cultural but also deeply spiritual.
that this celebration is not only cultural but also deeply spiritual.
It is an opportunity to strengthen family bonds, cultivate kindness, and nurture a more fraternal society. The Gospel teaches us that great things begin with small acts of love—peace, justice, and faith take root in our daily gestures of forgiveness, charity, and compassion, whether in our family lives, our community service, or through simple acts of kindness toward others.
It is an opportunity to strengthen family bonds, cultivate kindness, and nurture a more fraternal society. The Gospel teaches us that great things begin with small acts of love—peace, justice, and faith take root in our daily gestures of forgiveness, charity, and compassion, whether in our family lives, our community service, or through simple acts of kindness toward others.
“On this day of family reunions and honoring our ancestors, Jesus extends His hand of
“On this day of family reunions and honoring our ancestors, Jesus extends His hand of
mercy to us. He calls us to heal divisions, overcome indifference, and walk together in faith. The word ‘synodality,’ meaning walking together, is at the heart of the Church’s mission. Pope Francis urges us to embrace this spirit, ensuring that no one is left behind in the journey of faith. The Binondo Chinese Parish is a living testament to this unity in diversity, demonstrating how faith can unite people, transcending differences and fostering harmony.
mercy to us. He calls us to heal divisions, overcome indifference, and walk together in faith. The word ‘synodality,’ meaning walking together, is at the heart of the Church’s mission. Pope Francis urges us to embrace this spirit, ensuring that no one is left behind in the journey of faith. The Binondo Chinese Parish is a living testament to this unity in diversity, demonstrating how faith can unite people, transcending differences and fostering harmony.
“As pilgrims of hope, we are called to bring Christ’s light to weary hearts and divided communities. Jesus is our hope and salvation. With Him, joy flourishes, love triumphs, and unity prevails.
“As pilgrims of hope, we are called to bring Christ’s light to weary hearts and divided communities. Jesus is our hope and salvation. With Him, joy flourishes, love triumphs, and unity prevails.
“I challenge the Filipino-Chinese community to be models of integration, inclusion, and collaboration. Our world today is in desperate need of bridge-builders, peacemakers, and artisans of dialogue. In our families, workplaces, and communities, let us heal the world—one act of love at a time, one gesture of kindness at a time.”
“I challenge the Filipino-Chinese community to be models of integration, inclusion, and collaboration. Our world today is in desperate need of bridge-builders, peacemakers, and artisans of dialogue. In our families, workplaces, and communities, let us heal the world—one act of love at a time, one gesture of kindness at a time.”
May this new year be a time of spiritual renewal, deeper faith, and abundant grace.
May this new year be a time of spiritual renewal, deeper faith, and abundant grace.
Xin Nian Kuai Le! Gong Xi Fa Cai! Henry Go
Editor: Jennifer A. Ng
B1 Monday, February 3, 2025
Toyota upbeat about 2025 prospects for auto industry
By Andrea E. San Juan @andreasanjuan
OVER half a million new cars could ply the Philippine roads in 2025 as demand for vehicles will remain strong this year, according to Toyota Motor Philippines Corp. (TMP).
“We are projecting sales to grow over 500,000 units, half a million new cars—512,000 units to be exact—representing a sustained growth of 8 percent,” TMP Chairman Alfred V. Ty said on Friday.
Ty said the prospects for the industry are “quite encouraging,” anchoring his optimism on the country’s rosy macroeconomic outlook. For one, he said the country’s GDP growth is expected to exceed 6 percent. He added that the financial sector remains “sound” with a growing consumer loan portfolio.
He also noted that OFW remit-
tances and BPO earnings are projected to expand this year.
These factors, Ty said, would open “new horizons for local production that will help government in its goal of strengthening the manufacturing sector.”
“I am hoping that we can harness the collective power of every automaker doing business in the country in realizing a more united automotive program to develop the auto industry into a major economic force in support of the nation’s long term development plans.”
Ty also said the “rapid and sig-
nificant influx” of automakers and brands is “a very welcome indicator.”
“I have always said that the one thing that attracts automakers the most to any market is increasing sales volumes,” he said, adding that rapid motorization will open up new opportunities for the local manufacturing sector.
“I am a very strong advocate of ‘Gawa ng Filipino para sa Filipino’ so this is a very welcome prospect for nation building.”
On the same day the Toyota executive made his pronouncements on the prospects for the local auto sector, Ferdi Raquelsantos, the president of Philippine Parts Makers Association (PPMA), urged the government to adopt a local content requirement (LCR) policy to revive the country’s “struggling” automotive industry.
Raquelsantos said in a statement on Friday that such a policy could strengthen domestic manufacturing, create jobs, and position the Philippines as a competitive player
in the Asean automotive market.
“Indonesia’s local content policy has been a game-changer for its automotive sector. By requiring automakers to source a significant percentage of components locally, they’ve built a robust supply chain and attracted major global players. The Philippines can achieve similar success if we take decisive action now.”
Raquelsantos told the BusinessMirror in an e-mail last week that despite a rebound in vehicle sales to prepandemic levels, “local manufacturing struggles to remain competitive, further impacting parts makers.”
The joint report of the Chamber of Automotive Manufacturers of the Philippines, Inc. (Campi) and the Truck Manufacturers Association (TMA) showed that the vehicle sales hit a record high of 467,252 units in 2024, 8.7 percent higher than the 429,807 units sold in 2023.
Across car brands, the Toyota Motor Philippines Corp. continued to dominate the auto market as it sold 218,019 vehicles or 46.66 percent of the total sales pie last year.
SEC files complaint against Seatoo
By VG Cabuag @villygc
THE Securities and Exchange Commission (SEC) has filed a criminal complaint against New Seataoo Corp. and Seataoo Information Technology OPC for soliciting investments from the public without the necessary license.
The SEC filed a complaint before the Department of Justice. It also implicated New Seataoo officers and agents Anna Rose Jangao Tero, Jonathan Tuazon Garcia, Danny Tuazon Sudaria, Lew Yean Yee, Seow Kai Sheng, Dylan Lim, and Seataoo OPC’s single stockholder, Jayson Corono Clidoro.
Complaints were filed with the SEC, claimed that they invested
LAST WEEK
SHARE prices plunged for the fourth straight week, with the main index entering the bear market territory, as it fell below the 6,000-point level for the first time since 2022.
The benchmark Philippine Stock Exchange index slid by 433.61 points to close at 5,862.59 points. Analysts attributed this to the failure of the country’s GDP growth to reach the government’s target in the fourth quarter and the US Federal Reserve’s “no-cut-stance” in the medium term.
It was a four-day trading week as the country celebrated the Chinese New Year holiday on January 29.
“To add, the market is still having a difficult time getting past its 10-day exponential moving average. It has also fallen below the 6,000-support line,” Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc., said. Volume of trade was higher as it averaged P8.55 billion, thanks to the P20.61 billion in trading value recorded on January 31.
Foreign investors, who made up 47 percent of the trades, were net buyers at P72.82 million.
Among the sub-indices, only the Financials index rose by a mere 7.22
Sembcorp makes big bet on solar project in Cadiz
By Lenie Lectura @llectura
SINGAPORE-BASED Sembcorp Industries (Sembcorp) is venturing into the Philippine renewable (RE) market where it will invest some $105 million.
Sembcorp’s wholly-owned subsidiary, Sembcorp Energy Philippines, has signed a share purchase agreement with CleanCurrent Renewable Energy Inc (CREI) for the acquisition of the latter’s 100-percent shares in Puente Al Sol Inc. for approximately $105 million.
Puente Al Sol is currently developing a 96 megawatt (MW) solar farm in Cadiz, Negros Occidental which is expected to commence commercial operation this year.
amounts ranging from P20,000 to P2.3 million, due to an expectation of returns from the group. The company operates on social media platforms, such as Facebook and Youtube, and hire popular influencers to advertise their products.
Upon investigation, the Seataoo Group was found to be offering securities in the form of investment contracts through a dropshipping e-commerce platform scheme.
Under the scheme, the Seataoo Group entices potential investors to become an online seller on its platform with the requirement that they deposit money to process orders. The investors are promised a profit ranging from 7 percent to 12 percent of the amount they invested. It also offers an affiliate program
points to close at 2,173 points, while the rest declined by at least 4 percent. The broader All Shares index shed 161.02 to 3,520.32, the Industrial index fell 706.98 to 8,155.98, the Holding Firms index retreated 431.11 to 4,909.81, the Property index declined 103.83 to 2,203.81, the Services index decreased 118.47 to 1,941.92 and the Mining and Oil index plunged 921.64 to 6,892.13. For the week, losers outnumbered gainers 153 to 65 and 27 shares were unchanged.
Top gainers were China Banking Corp. PTFC Redevelopment Corp., LMG Corp., Anchor Land Holdings Inc., NiHAO Mineral Resources International Inc., Philippine Infradev Holdings Inc. and First Abacus Financial Holdings Corp.
Top losers, meanwhile, were Alliance Global Group Inc., Nickel Asia Corp., Metro Alliance Holdings & Equities Corp. B shares, San Miguel Corp., Benguet Corp. B, Roxas and Co. Inc. and PXP Energy Corp.
THIS WEEK
SHARE prices may rise this week, but mainly on bargain hunting.
Tantiangco said the market may not see a complete turnaround yet as sentiment could remain bearish.
“Investors could still be con-
where existing investors or online sellers get a 3-percent referral commission. “This scheme affirms that the deposited funds are in reality, investments, since they are not limited to transactional payments directly tied to specific purchases. In fact, complainants demand for the return of their investments plus profits,” according to the SEC complaint.
“This mandatory funding of individual accounts required of Seataoo’s members or online sellers is a device used by Seataoo to mask its offer/sale of unregistered securities and obtain investments from the public without having to secure the requisite license from the commission.”
The Seataoo Group’s public offering and selling of investment contracts without license likewise con-
cerned with how the Philippine economy would be this 2025 following its below-target performance last year, and how the BSP [Bangko Sentral ng Pilipinas] can help given that the Fed is slowing down with its policy easing,” he said.
“Adding to the worries is the uncertainties in the foreign policies of the US. Investors are expected to watch out for upcoming economic data for clues. These include the S&P Global Philippines Manufacturing PMI, January 2025 inflation rate, and December 2024 labor market data.”
2TradeAsia said that the country’s GDP growth rate of 5.6 percent for last year, missed the economic team’s target band of 6 percent to 6.5 percent.
A big portion of the disappointment came during fourth quarter, when growth settled at 5.2 percent, flat compared with the third quarter and was even lower compared with the previous year’s 5.5 percent.
“A break below 6,000 is critical; while this may primarily be a kneejerk reaction to negative headlines, a breach in this key trendline is major and warrants caution in shortterm trades,” it said.
“Monitor potential attempts at recovery next week, as oversold
stitutes fraud or deceit, the SEC said.
In June 10 last year, the SEC issued an order of revocation against the two Seataoo entities, and in a decision dated December 26, the SEC denied the appeal of the companies for lack of merit.
The Securities Regulation Code prohibits the selling or offering of securities to the public without the requisite registration statement duly filed with and approved by the SEC. It also requires the issuer to secure a permit to sell securities, and its agents to be registered with the Commission.
Meanwhile, the Cybercrime Prevention Act raises by one degree higher the penalty imposed for a crime committed through information and communication technologies.
conditions may attract bargain hunters. Maintain composure, capitalize on despair.”
Immediate support is seen at 5,800 points while resistance is projected at 6,000 points.
STOCK PICKS
MAYBANK Securities said most of the fund managers who joined a roadshow in Kuala Lumpur recently, were selective on the country’s consumer sector.
“Most funds are underweighting the Philippines, contending tapering inflation won’t directly translate to improved purchasing power amid foreign exchange woes.”
The most mentioned names were Jollibee Foods Corp. (JFC) and tuna canner Century Pacific Food Inc. (CNPF), which are among the broker’s top picks, whereas Universal Robina Corp., received the most questions on its medium-term outlook and performance.
“Overall, there was no pushback on JFC and CNPF as top picks, as valuations are well supported by stable earnings growth and solid long-term strategies.”
Jollibee
Sembcorp said it has a balanced energy portfolio of 25.9 gigawatts (GW), including 16.5GW of gross renewable energy capacity, across 10 countries.
“Our urban development projects span over 14,000 hectares across Asia and have generated over 377,000 employment opportunities and attracted close to $50 billion of investment capital,” the company said. In addition to being listed on the main board of the Singapore Exchange, Sembcorp is a constituent stock of FTSE Russell Index, MSCI Singapore Index, Straits Times Index as well as sustainability indices including FTSE4Good Index, iEdge SG ESG indices and several MSCI ESG indices.
The parties will have to secure regulatory approvals for the deal to proceed. They expect to secure these approvals in the second half of the year. “The proposed acquisition marks Sembcorp’s entry into the Philippines’ renewable energy sector, underscoring its commitment to growing its renewables presence to drive energy transition in the region,” Sembcorp said in a statement. It also said that the sales and purchase agreement is not expected to have a material impact on the earnings per share and net tangible assets per share of Sembcorp for the financial year ending December 31 2025.
Banking&Finance
Comelec imposes total ban on 4Ps, giving aid
By Justine Xyrah Garcia
HE Commission on Elections
T(Comelec) will impose a total ban on the distribution of government cash aid, or ayuda, in the days leading up to and during election day proper.
In Resolution 11104 released last week, the Comelec ruled that any incumbent elected official, their spouse, or a relative within the second civil degree who distributes ayuda (aid) during the ban will be presumed to be engaging in votebuying.
The prohibition covers various cash assistance programs, including those under the following mechanisms of the Department of Social Welfare and Development (DSWD): Pantawid Pamilyang Pilipino program (4P); the Ayuda sa Kapos ang Kita program (Akap); and, the Assistance to Individuals in Crisis Situations (Aics) program. The prohibition also includes the Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (Tupad) program of the Department of Labor and Employment (DOLE).
“Notwithstanding any provisions to the contrary, the giving and distribution of ayuda, Tupad, Akap, Aics, and 4Ps shall be totally prohibited within a period of ten (10) days before elections and on election day, except for medical and burial assistance, which are normally given to qualified individuals,” Comelec stated.
The poll body also warned that violations of the ayuda ban could be considered an abuse of state resources (ASRs).
The Legal Network for Truthful Elections organization defines ASRs
as referring to the misuse of government resources—including material, human, coercive, regulatory, budgetary, media-related, or legislative assets—for electoral advantage.
While ASRs fall under the broader category of corruption, they are specifically defined by their electoral purpose: the use of public resources to gain an advantage or ensure victory in elections.
Comelec Commissioner Ernesto M. Maceda Jr. previously assured that the poll body would issue clear guidelines on the ayuda ban to prevent government funds from being used for electioneering.
“There has been an outcry that those providing this kind of assistance may also be using it for campaign purposes to ingratiate themselves with the public,” Maceda said. In addition to the ayuda ban, Comelec will also implement a “money ban” two days before the elections and on election day itself. Under this rule, individuals— except those whose work requires them to handle large sums, such as cashiers or disbursing officers—will not be allowed to carry more than P500,000 in cash.
“Provided that, when transporting or carrying such an amount, they must be in the actual performance of their duties involving the transport of money or disbursement of payrolls,” Comelec clarified.
The Philippine National Police will enforce the money ban through Comelec checkpoints.
Violations of either the ayuda or money ban will be considered election offenses, subject to one to six years of imprisonment or disqualification to hold public office.
Insured farmers to get payments thru GCash
TBy Ada Pelonia
HE Philippine Crop Insurance Corporation (PCIC) inked an agreement with GCash operator G-Xchange Inc. to streamline indemnity payments to insured farmers. Through a memorandum of agreement (MOA), the PCIC and G-Xchange would collaborate to deliver a payout system, which would “financially empower” farmers and “advance financial inclusion” in rural areas.
“Your commitment to this partnership demonstrates our shared goal of empowering the agricultural sector through innovation. Together, we are paving the way for a more resilient and financially inclusive future for our farmers and fisherfolk,” PCIC President Jovy C. Bernabe was quoted in a statement as saying.
The PCIC didn’t disclose how much it is paying G-Xchange. According to the statement, the contract includes the introduction of the “funds disbursement service” in the GCash platform, which would
MORGAN Stanley hosted a meet-
ing with senior executives from social-media platform X and about two dozen investment firms on Friday as part of its effort to sell $3 billion of the company’s outstanding debt, according to people with knowledge of the matter.
At the meeting were X CEO Linda Yaccarino and Chief Financial Officer Mahmoud Reza Banki, said the people, who were not authorized to speak publicly. They gave a brief presentation but did not take questions in a meeting that lasted less than an hour, they said. Representatives for Morgan Stanley and X did not respond to requests for comment.
Govt infra spending in Nov up on DPWH, SCU projects
By Reine Juvierre Alberto @reine_alberto
THE national government infrastructure expenditures rose more than half in November last year after expediting the rollout of major projects and flagship initiatives.
Latest data on the national government’s disbursement performance showed state infrastructure spending and other capital outlays increased to P87.6 billion in November.
The amount is higher by 54.6 percent or P31 billion than the P56.7 billion disbursed during the same month in 2023, based on the assessment of the Department of Budget and Management (DBM).
The Department of Public Works and Highways (DPWH) accelerated its key infrastructure projects, including flagship initiatives under the FY 2024 General Appropriations Act (GAA), which contributed to the robust infrastructure spending during
the month, according to the DBM.
The DPWH also issued large payouts for completed projects and ongoing contracts from the prior year’s budget. Capital outlay projects by state colleges and universities (SCUs) helped drive up infrastructure spending in November last year.
The DBM released P86.1 billion to DPWH for capital outlays, mostly to cover the implementation of various priority infrastructure projects.
About P7.5 billion was also allotted as additional funding for the routine maintenance of national roads nationwide.
During the 11-month period, infrastructure spending hit P1.180
Group censures Marcos
By Rizal Raoul S. Reyes @brownindio
THE Center for People Empowerment in Governance
(CenPEG) criticized the government for the 2025 national budget, pointing out that it prioritizes patronage-driven allocations over much-needed social services for millions of Filipinos suffering from hunger and poverty.
allow indemnity payments to be deposited directly into farmers’ GCash wallet accounts in real-time, “eliminating delays and inefficiencies associated with issuing physical checks.”
“This innovation not only aligns with the government’s goal of financial inclusivity but also supports PCIC’s push for digitalization and process efficiency,” Bernabe said.
The agency noted that a key advantage of this partnership is introducing farmers to the digital ecosystem of GCash, “enabling them to save, invest, and access microfinancing tools for resilience and financial growth.”
“This collaboration goes beyond efficiency—it is a step toward empowering our farmers,” Bernabe said.
In line with the government’s financial inclusion agenda, this initiative provides farmers with easy access to financial tools and services, even in remote areas, the PCIC asserts.
“It envisions uplifting agricultural communities and ensuring resilience, inclusivity, and innovation for farmers nationwide.”
CenPEG Chairman Roland G. Simbulan said the “glaring lack of transparency and accountability in the budget process undermines the principles of good governance and betrays the public trust.”
“Good governance demands accountability, transparency, and responsiveness to the people’s needs. Instead, what we see in the 2025 budget is a blatant disregard for
trillion, 15.5 percent higher than the P1.021 trillion recorded a year ago.
Overall spending
IN November alone, the government’s expenditures totaled P551.3 billion, 27.1 percent higher than the P433.6 billion in the same month a year ago.
Maintenance spending reached P93.1 billion, up by 33.5 percent from P69.7 billion due to the implementation of social protection programs, medical assistance to indigent patients, livelihood and emergency employment programs and free higher education programs.
Local government units also received higher allotment and capital transfers worth P101.5 billion in November, resulting from the release of the P21 billion Special Shares of LGUs in the proceeds of tobacco excise taxes and Mandanas Ruling.
Interest payments also increased by almost 50 percent to P61.1 billion due to reissuance, additional issuances and coupon payments for fixed-rate Treasury bonds and retail T-bonds, as well as the effect of higher T-bill rates.
Foreign exchange fluctuations
govt
these principles, with public funds being channeled into discretionary allocations that serve political interests rather than addressing the urgent crises in education, healthcare, and social welfare. The government must be held accountable for how taxpayer money is spent,” Simbulan was quoted as saying in a statement the organization issued last Friday.
His organization emphasized that good governance goes beyond managing public resources efficiently to ensuring that these resources serve the common good. Accountability means that government officials must justify their budget decisions to the people and take responsibility for any misuse of funds, the group’s statement read.
“A government that refuses to be accountable to its citizens is a government that fails in its duty. The
also pushed up interest payments by 37.3 percent to P66.7 billion from P48.5 billion, driven by coupon payments for reissuances of fixed-rate Treasury bonds and issuances of retail Treasury bonds.
Subsidies to state-run corporations climbed by 81.6 percent to P12.2 billion from P6.7 billion because of the implementation of contract farming and establishment and repair of irrigation systems as well as palay procurement of the National Food Authority (NFA).
As of end-November 2024, the national government’s disbursements amounted to P5.281 trillion, 13 percent higher year-on-year. Some P141.2 billion remains available for release, coming from the regular budgets of departments (P49.0 billion), special purpose funds (P44.0 billion) and automatic appropriations (P48.2 billion).
According to the Department of Finance, government spending rose by 7.2 percent in 2024, driven by larger personnel services expenditures, including the release of bonuses and increased public infrastructure spending.
for budget’s opacity
people must demand transparency in public spending and insist that their hard-earned taxes be used for their benefit, not for political patronage,” Simbulan added.
Meanwhile, University of the Philippines-School of Economics Professor Cielo Magno-Gatmaytan described the 2025 General Appropriations Act as a pro-politician budget.
“There has to be greater transparency on the preparation of the P6.32 trillion budget,” she said in a recent television interview.
Although there are mechanisms installed in the crafting of the national budget, Magno-Gatmaytan said the changes in the GAA occur during the bicameral conference committee between some members of the Lower and Upper Houses of Congress to reconcile the differences.
Instead of being held behind closed doors, she said the meeting should be open to the public to ensure transparency.
According to Magno-Gatmaytan, the move resulted to the increase in the budget of the Department of Public Works and Highways to P288.7 billion, a reduction of P50 billion in the 4Ps program of the Department of Social Welfare and Development and a reduction of P30 billion for subsidies of programs under the DSWD. “They are just drastically changed by a handful of legislators deciding what items to prioritise,” she added. “As taxpayers, we have the right to demand accountability, decency and transparency from the government.” Magno--Gatmaytan also urged Congress “to fight impunity and corruption because they are degrading the dignity of Filipinos.”
‘Doubt on PWD ID validity no reason to deny perks’
TBy Joel R. San Juan @jrsanjuan1573
HE Department of Justice (DOJ) has held that establishments cannot deny or withhold discounts or privileges to a person with disability (PWD) due to doubts on the authenticity of his or her PWD Identification Card.
In a 5-page legal opinion, the DOJ through Undersecretary Raul T. Vasquez held that such denial violates existing laws and implementing rules and regulation, particularly of the provisions of Republic Act 10754 (An Act Expanding the Benefits and Privileges of Persons with Disability)
The meeting comes after Morgan Stanley launched a process to offload debt worth billions of dollars from X, formally known as Twitter Inc., that it and other Wall Street banks have had stuck on their balance sheets since financing Elon Musk’s purchase of the company in 2022. The debt was meant to be sold off to investors almost immediately, but concerns about X’s financial health extinguished their appetite until recently. Morgan Stanley, which advised Musk on the acquisition, led the financing and has held the bulk of the debt since then, is now orchestrating the process for a group of seven banks to finally
and its implementing rules and regulations (IRR).
“Such denial and withholding of PWD benefits and privileges by reason of unverified PWD ID card constitutes a violation of the rights of PWDs to avail of the said benefits and privileges,” the DOJ legal opinion stated.
The DOJ noted that RA 10754 and its IRR do not require verification of the PWD card as a prerequisite for the disabled to avail benefits and privileges.
The DOJ issued the legal opinion upon the request of National Council on Disability Affairs (NCDA) Officerin-Charge Deputy Executive Director
Dandy C. Victa. Victa sought the legal opinion after establishments and agencies raised concerns with regard to instances when PWD ID cards presented appear to be suspicious or cannot be immediately verified for authenticity.
In his letter, the NCDA OIC asked the DOJ on whether it is legally permission for establishments and agencies to deny and withhold corresponding discounts or privileges to a PWD solely because its authenticity cannot be confirmed at the time of presentation and would such denial constitute a violation of existing laws in relation to the rights of disabled persons. Vasquez noted that verification of PWD IDs and other information is being done through the PWD Registry being maintained by the Department of Health (DOH). However, the DOJ official pointed out that the existing PWD Registry “does not yet contain the complete registry of PWDs in the country for various reasons.”
“As such, denial or withholding of PWD benefits and privileges due to unverified PWD ID cards or when the verification results to ‘no records found’ in the registry would undoubtedly defeat the purpose of the law,” Vasquez added.
Things To know abouT how Trump’s policies TargeT Transgender people
By Geoff Mulvihill The Associated Press
President donald trump has targeted transgender and nonbinary people with a series of executive orders since he returned to office.
He has done it with strong language. In one executive order, he a s serted “medical professionals are maiming and sterilizing a growing number of impressionable children under the radical and false claim that adults can change a child’s sex.”
That’s a dramatic reversal of the policies of former President Joe Biden’s administration—and of major medical organizations— that supported gender-affirming care.
American Civil Liberties Union lawyer Sruti Swaminathan said that to be put into effect, provisions of the orders should first go through federal rulemaking procedures, which can be years long and include the chance for public comment.
“When you have the nation’s commander-in-chief demonizing transgender people, it certainly sends a signal to all Americans,” said Sarah Warbelow, the legal director at Human Rights Campaign.
T h ings to know about Trump’s actions:
recognizing people as only men or women
On Trump’s first day back in office, he issued a sweeping order t h at signaled a big change in how his administration would deal with transgender people and their rights. It questions their existence by saying the government would recognize only two unchangeable sexes: female and male.
The stated purpose is to protect women. “Efforts to eradicate the biological reality of sex fundamentally attack women by depriving t h em of their dignity, safety, and well-being,” the order says.
The document calls on govern -
PBy Carla K. Johnson AP Medical Writer
UBLIC health data disap -
p eared from websites, entire w e bpages went blank and employees erased pronouns from email signatures Friday as federal agencies scrambled to comply with a directive tied to President Donald Trump’s order rolling back protections for transgender people.
T h e Office of Personnel Management directed agency heads t o s trip “gender ideology” from websites, contracts and emails in a memo sent Wednesday, with changes ordered to be instituted by 5 p.m. Friday. It also directed agencies to disband employee resource groups, terminate grants
a n d contracts related to the issue, and replace the term “gender” with “sex” on government forms. Some parts of government websites appeared with the message
T he page you’re looking for was not found.” Some pages disappeared and came back intermittently.
A s ked by reporters Friday about
ment agencies to use the new definitions of the sexes, and to stop u s ing taxpayer money to promote what it calls “gender ideology,” the idea broadly accepted by medical experts that gender falls along a spectrum.
Federal agencies have been quick to comply. Andrea Lucas, the acting chair of the U.S. Equal Employment Opportunity Commission, for e xample, announced this week that she would remove identity pronouns from employees’ online profiles and disallow the “X” gender marker for those filing discrimination charges.
Biology is not bigotry. Biological sex is real, and it matters,” Lucas said in a statement.
On Friday, information about what Trump calls “gender ideology” was removed from federal g o vernment websites and the term “gender” was replaced by “sex” to comport with the order. The Bureau of Prisons stopped reporting t h e number of transgender incarcerated people and the Centers for D i sease Control and Prevention removed lessons on building supportive school environments for transgender and nonbinary students.
R esearchers have found less than 1% of adults identify as transgender and under 2% are intersex, or b o rn with physical traits that don’t fit typical definitions for male or female.
requests denied for passport gender markers
In the order calling for a new federal definition of the sexes, Trump i n cluded some specific instances in which policy should be changed, including on passports.
The State Department promptly stopped granting requests for new or updated passports with gender markers that don’t conform with the new definition.
The agency is no longer issuing the documents with an “X” that some people who identify as neither male nor female request and will not honor requests to change the gender markers between “M” and “F” for transgender people.
The option to choose “X” was taken off online passport application forms Friday.
T h e ACLU says it’s considering a lawsuit.
transgender women moved into men’s prisons
T RUMP S initial order called for t ransgender women in federal custody to be moved to men’s prisons. W a rbelow, from Human Rights Campaign, said her organization has received reports from lawyers that some have been.
The Federal Bureau of Prisons did not immediately respond to requests for information about
such moves.
There have been at least two lawsuits trying to block the policy.
In one, a federal judge has said a transgender woman in a Massachusetts prison should be housed w ith the general population of a woman’s prison and continue to receive gender-affirming medical care for now.
Opening the door to another ban on transgender service members
T RUMP set the stage for a ban on t ransgender people in the military, directing Defense Secretary Pete Hegseth to come up with a new policy on the issue by late March.
In the executive order, the president asserted that being transgender “conflicts with a soldier’s commitment to an honorable, truthful, a n d disciplined lifestyle, even in one’s personal life.”
Trump barred transgender service members in his first term in office, but a court blocked the effort.
A g r oup of active military members promptly sued over the new o r der this week.
defunding gender-affirming medical care for transgender youth
T RUMP called for halting the use of fe deral money to support genderaffirming medical care for transgender youth under 19 years old.
T h e care in question includes puberty blocking drugs, hormone therapy and gender-affirming surgery, which is rare for minors.
I f f ully implemented, the order would cut off government health insurance including Medicaid and TRICARE, which serves military families, for the treatments.
It also calls on Congress to adopt a law against the care, though whether that happens is up to lawmakers.
Tw enty-six states already have passed laws banning or limiting gender-affirming care for minors, so the change could be smaller in those places.
Some hospitals have paused some gender-affirming care for people under 19 following the executive order while they evaluate ho w it might apply to them.
Barring schools from helping student social transitioning An OTHER ex ecutive order this week seeks to stop “radical indoctrination” in the nation’s school s y stem. It calls on the Education Department to come up with a policy blo c king schools from using federal funds to support students who are socially transitioning or using their curriculum to promote the idea that gender can be fluid, along with certain teachings about race.
T h e order would block schools from requiring teachers and other school staff to use names and pronouns that align with transgender s t udents’ gender identify rather than the sex they were assigned at birth.
Some districts and states have passed those requirements to prevent deadnaming, the practice of r e ferring to transgender people who have changed their name by the name they used before their transition. It is widely considered insensitive, offensive or traumatizing.
reports that government websites were being shut down to eliminate mentions of diversity, equity and inclusion, Trump said he didn’t know anything about it but that he’d endorse such a move.
“I don’t know. That doesn’t sound like a bad idea to me,” Trump said, adding that he campaigned promising to stamp out such initiatives.
M u ch public health information was taken down from the C e nters for Disease Control and Prevention’s website: contraception guidance; a fact sheet about H I V and transgender people; lessons on building supportive school e n vironments for transgender and nonbinary kids; details about n at ional Transgender HIV Testing Day; and a set of government s u rveys showing transgender students suffering higher rates of depression, drug use, bullying and other problems. Eliminating health resources creates dangerous gaps in scientific information, disease experts said. The Infectious Diseases Society of America, a medical association,
issued a statement decrying the removal of information about HIV and people who are transgender.
Access is “critical to efforts to end the HIV epidemic,” the organization’s leaders said.
A B u reau of Prisons web page originally titled “Inmate Gender” was relabeled “Inmate Sex” on Friday. A breakdown of transgender i n mates in federal prisons was no longer included. The State Department on Friday removed the option to select “ X ” as a gender on passport applications for nonbinary applicants. It a lso replaced the word “gender” from the descriptor with the word
“sex.” n one theless, the online passport application form was no longer available late Friday, linking simply to a message that said t h e system was “undergoing maintenance.”
A l l State Department employees were ordered to remove genderspecific pronouns from their email signatures. The directive, from the acting head of the Bureau of Management, said this was required to co m ply with Trump’s executive orders and the department was also re m oving all references to “gender ideology” from websites and internal documents.
A ll employees are required to remove any gender identifying pronouns from email signature blocks by 5:00 PM today,” said the order from Tibor nag y. “Your cooperation is essential as we navigate t h ese changes together.”
An official from the US Agency for International Development said staffers were directed to flag the use of the word “gender” in each of thousands of award contracts. Warnings against gender discrimination are standard language in
e v ery such contract. The official spoke on condition of anonymity for fear of reprisal, under a Trump administration gag order prohibiting USAID staffers from speaking w i th people outside their agency. The official said staffers fear that programs and jobs related to inclusion efforts, gender issues and issues specific to women are being singled out and possibly targeted under two Trump executive orders. Some Census Bureau and n ational Park Service pages were a l so inaccessible or giving error messages. Trump’s executive order, signed on his first day back in office, calls for the federal government to define sex as only male or female and f o r that to be reflected on official documents such as passports and policies such as federal prison assignments.
D e fense Secretary Pete Hegseth ordered the military to immediately stop recognizing identity a day b e fore the start of February’s Black History Month, saying such events “erode camaraderie and threaten mission execution.”
TernoCon 2025: ‘Panata’ for the Philippines
THE terno continues to enthrall. And, along with it, the kimona and the balintawak
These distinctly Filipino dresses were the focus at the TernoCon 2025 Final Competition Night and Cultural Show held on January 26 at the Philippine International Convention Center.
“This is the fourth edition of Ternocon, our advocacy to preserve and promote the Philippine terno through education, convention and competition. This year, we received a total of 82 entries from Ilocos Norte to South Cotabato,” said Suyen Corp./Bench head honcho Ben Chan in his welcome remarks. “Since their submission last May of 2024, they have received a series of lectures online and in-person, a lock-in in Baguio City, talks, presentations and fittings at Bench Tower and at Tanghalang Ignacio Gimenez.”
The 12 finalists were given the brief to create three garments that celebrate our culture: The kimona with alampay draped on the shoulder and its wraparound skirt called patadyong. Second, the balintawak worn with the alampay and tapis, and third was the terno but with the addition of the panuelo
This remarkable undertaking is a collaboration between Bench and the Cultural Center of the Philippines led by its president Kaye Tinga, Ricardo “Eric” Cruz, artistic director of Ternocon 2025, and Gino Gonzales, founding artistic director of Ternocon and artistic consultant of Ternocon 2025
The stylist Noel Manapat worked tirelessly behind the scenes in weaving together this project, along with chief mentor Inno Sotto and the 2025 mentors Rhett Eala, Lulu Tan Gan and Ezra Santos. “We share this advocacy because of our collective love for the arts and love of country. The work ahead is a lot, but our partnership has always proven to be ready for it. This is our panata for the Philippines,” Chan added.
For her part, CCP president Tinga stated: “Art plays a central role in shaping our cultural identity, and fashion adds a unique dimension because it is accessible and interactive, connecting directly with the individual wearer. This year’s theme, inspired by the works of 20th-century Filipino artists— painters, sculptors, and architects—drives home the uniqueness of fashion as it distills these other forms of art into something wearable.”
Here are the four designers deemed the most brilliant by the judges (National Commission for Culture and the Arts chairman Ino Manalo, designer Dennis Lustico, Lowe Philippines chairman and a member of the Philippine Red Cross Board of Governors Monique Villonco, and Chan himself.
PACITA LONGOS AWARDEE (GOLD MEDALIST)
PEACH GARDE FROM TAPAZ, CAPIZ
“IN 2024, we had the Iloilo New Breed Fashion Show with the theme of Brutalism, so I still have residues of ideas from there. Then I looked for Brutalist artists in the 20th century. I chose National Artist for Architecture Leandro Locsin because of his sharp
I WAS sent the Huda Beauty Easy Blur Natural Airbrush Foundation and the Easy Bake Loose Setting Powder. I love Huda Beauty and have been using the brand’s products (the lipsticks and lip liners) prepandemic. I also love the #FauxFiller Extra Shine Lip Gloss.
As a brand, Huda Beauty is known for its base products, from the full coverage #FauxFilter Luminous Matte Foundation to the super popular brilliant Easy Bake Loose Baking & Setting Powder.
The latest launch is the Huda Beauty Easy Blur Natural Airbrush Foundation. To launch the new foundation, brand founder Huda Kattan posted a a side-by-side comparison of the product on Instagram.
and precise lines, which I believe I can translate to clothing and wearable art.
“My style is known for being clean and tailored. The fabrics I used were sourced locally. Mostly, they are polyester suiting and shirting fabrics. I also have silk and natural piña in my kimona look.
“I believed that I had a strong idea about producing a brutalist collection. But there were so many suggestions and alterations from the mentors. I knew already the fabrics that can really work with my tailoring skills, but the collection was really enhanced and improved through the help of the mentors.”
PURA ESCURDIA AWARDEE (SILVER MEDALIST) BRYAN PERALTA FROM MAKATI CITY
I’M often drawn to abstract expressionism and minimalist design so when I was doing my research and visiting museums, I immediately gravitated toward the works of Jose Joya, our National Artist for Visual Arts who pioneered Abstract Expressionism in the Philippines in the early 1960s.
“I wanted to interpret the terno in a way that has been around for a while but, in the myriad of ways that the terno has been created in the past, I felt like this could offer a fresh new visual to this singularly
Kattan wore the foundation on one half of her face, leaving the other half bare. The post, as expected, went viral.
The Easy Blur Natural Airbrush Foundation claims to have ultra-blurring and smoothing properties for a filter-like finish. It’s non-comedogenic, and formulated with 1.5 percent niacinamide and silica. It also comes in over 20 shades and is fragrance-free and alcohol-free.
The foundation is ideally worn with the Easy Blur Primer, a silicone-free jelly primer that helps control excess oil, smooth texture and blur the skin. Unfortunately, I don’t have this but I used a similar product from Filipino brand GRWM as my primer. For reference, I have mature skin that’s oily with dry spots and fine lines in certain areas such as near my jaw. At my age, I know that full coverage foundation is no longer that flattering on me. I used it under the GRWM primer, Laneige Cream Skin Refiner, MAC Serumizer, and a Hada Labo Koi-Gokujyun UV White Gel SPF 50. The Easy Blur Natural Airbrush Foundation (in the shade Butter Pecan) glides on smooth with a dense MAC foundation brush.
Most people apply the foundation on the back of their hand and blend it with a brush before
iconic Filipino garment, and that is by 3D printing. The idea was to interpret Jose Joya’s line drawings using different techniques and one of them was embroideries.
“I had to teach myself how to use an embroidery machine and copy the zigzagging lines he drew to create darker shades and lighter areas in the drawings. I also used waxed cords to add dimension and texture to the fabrics.
“Several iterations later, the idea totally evolved from just embroidering the line drawings on fabric, to reimagining the terno sleeves and rendering it in full 3D printing.”
RAMON VALERA AWARDEE (BRONZE MEDALIST) RAM SILVA FROM ILOILO CITY
“FOR my capsule collection, I immersed myself in the evocative paintings of Fernando Amorsolo. Growing up in the province, I was shaped by the quiet yet profound beauty of a life often overlooked by the world. Amorsolo’s works—rich in nostalgia, romance, and simplicity—mirror the very essence of my humble beginnings, where every day felt like a timeless painting, brimming with emotion and meaning.
“I wanted to honor the identity of my region,
so I chose to work with materials that embody its rich heritage. I incorporated 95 percent handwoven fabrics, including piña from Kalibo, hablon from Miagao, Iloilo, and natural fibers like raffia, abaca for my salakot and bila-o. Through this collection, I aim to not only showcase the intricate craftsmanship of these materials but also highlight the incredible skill and artistry of the weavers and Ilonggo artisans who bring them to life.”
JOE SALAZAR AWARDEE (CHIEF MENTOR’S AWARD) WINDELL MADIS FROM BATAC, ILOCOS NORTE
“MY collection is a visual and sartorial ode to the works of Hernando Ruiz Ocampo, the National Artist for Visual Arts celebrated for his bold abstract paintings. The collection translates Ocampo’s biomorphic drawings, radiant color palettes and evocative landscapes into wearable art. Each garment pays honor to a specific masterpiece, intertwining Filipino heritage with contemporary abstraction.
“I love researching. I draw inspiration from the most unexpected of things. My design process is grounded with humor and curiosity. I am committed to evolving while staying true to my style. I love the creative freedom designing gives me.” n
application. I apply it directly on the face, one dot on one cheek and another dot on the other. I apply a smaller dot on my forehead. The foundation has a serum-like, watery texture.
I have seen reviews that said the coverage is buildable but I have not so far added another layer because the finish is already so beautiful. I just apply a NARS concealer under my eyes and on my Huda Beauty Easy Blur Natural Airbrush Foundation works well with products from other brands. I have a problem with some foundations pilling when you use sunscreens from other brands. That is not the case with this.
In terms of finish on the skin, I expected it to be full coverage and mask-like and it’s not. The coverage is there and you
Hotel101 Global App hits 1M registered users milestone
ON January 28, 2025, DoubleDragon Corporation’s subsidiary Hotel101 Global achieved the milestone of exceeding one million registered users on its Hotel101 Global APP.
“Eventually our goal is for the Hotel101 Global App (HBNB App) to have over one million registered users in every country where Hotel101 operates. By next year we intend to complete Hotel101-Madrid and we would start to build up HBNB App users towards another one million from the citizens of Spain, to be followed by another million users from Japan in 2026 then United States, and eventually a million each from the citizens of United Kingdom, UAE, India, China, Thailand, Malaysia, Vietnam, Indonesia, Singapore, Cambodia, Bangladesh, Mexico, South Korea, Australia, Canada, Switzerland, Turkey, Italy, Germany, France and Saudi Arabia,” said DoubleDragon Chairman Edgar Injap Sia II.
“The HBNB App with self-checkin capabilities will provide Hotel101 customers with seamless hotel experience starting from the time they book their rooms, to check in, all the way through to check out and settling the bill, all can be done in the HBNB App. The HBNB App is expected to become the most efficient and easiest to use hotel App globally. The Hotel101 Global Hotel chain seeks to delight its customers by providing them with a completely predictable and consistent one room concept anywhere it locates around the world,” said Hotel101 Global CEO Hannah Yulo-Luccini.
The first three Hotel101 overseas projects are expected to generate inflows of US$471 Million (Php27.2
Billion) in foreign currency revenues to DoubleDragon. The upcoming Hotel101 Global listing in the US is set to further strengthen DoubleDragon’s balance sheet. Out of the Hotel101 Global’s one million operating hotel rooms global target by 2050, 50,000 are intended to be in the Philippines, which is expected to further cement the position of DoubleDragon’s Hotel101 to become the largest hotel company in the Philippines and simultaneously become one of the top five hotel companies in the world.
The asset-light Hotel101 unique and novel concept with one type of room all throughout its ecosystem at an average of about 500 rooms per site allows DoubleDragon to generate revenue and income twice, first from the preselling of the Hotel101 units, then second, after the project is constructed, it generates recurring revenues from its hotel operations.
Hotel101 adopts dynamic pricing on its room rates via the Hotel101 Global App where its room price moves up and down depending on the real-time supply and demand on the chosen date of booking.
DoubleDragon’s Total Equity is set to exceed P100 billion for the first time in 2024. The Company is positioned to become one of the few companies in the Philippines with Total Equity at 12 digit level. DoubleDragon happens to be one of the very few companies that has not only positioned a diversified hard asset portfolio
spread out across the Philippines, but it also happens to be one of the very few that has organically developed a novel asset-light concept and highly unique business model in Hotel101 (HBnB) that is portable and exportable to other continents globally. The export of Hotel101 is expected to eventually become one of the major US Dollar inflow generators to the Philippine economy.
DoubleDragon’s string of titled investment properties strategically planted in prime locations in Luzon, Visayas, Mindanao and Overseas serves as its strong underlying solid foundation.
Smart, Sustainable, and Powerful: Anker Innovations Lead Charging Tech at CES 2025
ANKER Innovations, a global leader in mobile charging and consumer electronics, recently unveiled its latest groundbreaking charging innovations at the Consumer Electronics Show (CES), held January 7 to 10 in Las Vegas.
The featured products highlighted innovative advancements across Anker’s flagship brands, designed to enhance daily life and elevate everyday experiences. Among these are from Anker Charging and Anker SOLIX, including the 25,000mAh Anker Power Bank with built-in and retractable cables, Anker 140W Charger featuring its first-ever digital display, EverForest 2 Electric Cooler, and Solar Umbrella, all set to launch in the Philippines in 2025.
The products mentioned above will soon be available across Southeast Asia as well. “As the world’s No.1 mobile charging brand, we are grateful for the support of Southeast Asian consumers,” said Leon Wu, Head of Anker Innovations Southeast Asia. “Our mission is to ignite possibilities through ultimate innovation, and we are committed to providing products that exceed consumer expectations in Southeast Asia.”
As a global leader in fast-charging technologies, Anker Innovations continues to develop products that keep devices charged at home, in the office, and on the go. By combining Gallium Nitride (GaN) technology with proprietary features, Anker Innovations offers a safer, faster, and more sustainable charging experience, reinforcing its position as a front-runner in next-generation charging solutions.
Anker 25,000mAh Power Bank (165W, Built-In and Retractable Cables)
SMALL in size and packed with the latest PD 3.0 technology, Anker’s fast-charging power bank
delivers powerful performance. Looking at Anker’s 25,000mAh 165W compact power bank, it boasts an impressive 25,000mAh capacity. Equipped with three USB-C ports and one USB-A port, it is ideal for charging multiple devices on the go. It can charge a MacBook Air 13’(M3) 2024 1.3 times, an iPhone 16 up to 4.5 times, and boost a MacBook Pro 16” (M3) battery to 50% in just 33 minutes.
Notably, Anker’s 25,000mAh 165W power bank is the world’s first high-power power bank with retractable cables. It includes a 22cm cable and a 69cm retractable cable, this provides flexible charging options for users on the move while walking, sitting, or lying down.
Anker 140W Charger featuring FirstEver Digital Display
ANKER’S charger breaks new ground as the first to feature a digital window display, bringing advanced functionality to the forefront. On this display, users
can see the total power output and output for each port in real time, making it easy to track the accurate charging status.
Real-time temperature monitoring ensures device safety, while Anker’s advanced Active Shield 2.0 technology enhances the safety and reliability with up to three million daily safety checks. Built with aerospace-grade GaN, the charger maximizes performance for faster and more efficient charging.
Anker Prime 250W GaN Desktop Charger (6 Ports)
THE Anker Prime 250W GaN Desktop Charger is a powerful six-port solution designed for modern multi-device users. With four USB-C ports and two USB-A ports, it offers up to 250W of total output, capable of charging multiple devices simultaneously, from smartphones to laptops. Its standout feature is the 140W max power delivery for MacBook Pro users, fully charging a 16” MacBook Pro in under two hours via PD3.1 technology.
A key feature is the 2.3” LCD display, which shows real-time power output for each port and can be turned off manually or automatically. The twist button control allows users to view port details, adjust priorities, and switch between power modes with ease. This GaN-based charger combines high power, compact design, and smart control, making it the ideal charging solution for professionals and tech enthusiasts alike.
Anker also announced plans to bring its Prime series—the most advanced multi-device fast charging lineup—along with its cutting-edge innovations to more users across Southeast Asia countries soon.
Stay tuned for more updates by following Anker Philippines on Instagram and Facebook.
Drawing workshop for beginners at Sunshine Place
STry These Money Rituals to Get That Main Character Energy in 2025 with Maya
FEELING ready to unleash your most fearless financial self in 2025? Say goodbye to tired budgeting methods and hello to a fresh, future-focused flow. Meet Maya, the Philippines’ #1 Digital Bank App that turns everyday transactions into soul-boosting money rituals. Because let’s be real, finances should be fun, liberating, and totally in sync with all your main-character goals. Each swipe, tap, or deposit not only levels up your vibe (it can also lift your bank balance!), letting you strut into the new year financially fierce and oh-so-ready to conquer those big plans on the horizon.
Ready to manifest all that abundance? Here are a few everyday rituals to attract more money this 2025:
Awaken Your Intentions Each Morning WHY dive straight into a chaotic to-do list when you can take a quick, Zen moment to check your Maya app and see where your money stands—no judgment, just clarity?
Think of this as your daily “finance reset.” Pair it with a feelgood affirmation like, “I attract success with each mindful step,”
Spend
Garmin introduces its first large format dive computer: Descent X50i
GARMIN has updated its Descent range with the announcement of the Descent™ X50i, its largest dive computer with a vivid 3” color touchscreen display.
Using SubWave™ sonar technology, divers can use Descent X50i to communicate with one another underwater and monitor each other’s tank pressure, depth, and distance to keep tabs on one another when visibility may be limited. They can also explore greater depths with an integrated backup dive light, 20 ATM dive rating, and leakproof metal buttons.
“Whether scuba diving, cave diving or seeking out shipwrecks, we know how important it is to have the most accurate data at all times. Featuring a big, bright display and 20 ATM dive rating, the new Descent X50i is the perfect dive computer for technical divers and a great option for recreational divers who want to clearly see key stats and critical information while exploring the underwater landscape,” said Dan Bartel, Garmin Vice President of Global Consumer Sales
Boasting a vibrant 3” color display, Descent X50i makes it easier to read more data at a glance. The touchscreen helps make setup simple and is great for navigating maps and settings to prepare for the next adventure. To take on the most technical dives, Descent X50i includes a strong sapphire lens, leakproof metal buttons and a backup dive light that is bright enough to be used while underwater. Dual elastic bands fit comfortably and securely around the wrist and feature buckles with an arrowhead attachment for easy onehanded closure while an adjustment lock can prevent slipping.
Designed by divers for divers, Descent X50i is ready for the next underwater excursion. Here are its features:
• Air integration: Keep track of your tank’s air pressure when paired with a Descent T2 transceiver.
• Monitor other divers: See tank pressure, depth and distance of up to eight divers who are using a Descent T2 transceiver, up to 10 meters away.
• Diver-to-diver messaging: Using SubWave technology, send preset messages to other connected divers, up to 30 meters away.
• DiveViewTM maps: Plan the next dive with preloaded bathymetric depth contours and over 4,000 dive sites worldwide.
• In-dive depth chart and history: View depth history in real-time to better understand the locations that have already been explored and how they will affect the decompression plan.
• Ascent dive profile: Visualize an ascent plan through the Projected Ascent data field, which shows a projected depth profile associated with the current Time-ToSurface (TTS). The chart also plots depth over time and displays decompression stops and gas switches.
• Tide data: Before heading out, check nearby tide data3 to stay up to date on ocean conditions.
• Dive compass: Navigate above (and below) the water with a 3D dive compass. Once divers are back on dry land, the dive log lets them review data, track gear, take notes and share details via their Garmin Dive™ app. They can also
Lessons from a ZorriLLa PubLic reLations scion: Gerry ZorriLLa
WHEN I was just starting in the public relations industry several decades ago, there was one big name that kept looming in my field of awareness which probably struck and influenced me in a major way even if I never had the opportunity to meet this man.
This person was Antonio Zorrilla, fondly called “Zorro” who was founding chairman and CEO of ZPA/PR Consulting. According to an article I found, he passed away of heart failure in 2002 at 70 years old.
The article also revealed that “under his management, ZPZ/PR Consulting, which he founded in 1973, introduced the use of PR in marketing, healthcare, mergers and acquisitions, leveraged buyouts and IPOs. The consultancy is consistently cited by the PR community for excellence and as trendsetter in crisis communications, litigation support, financial PR, social marketing and government relations.”
In 1966, he organized his own firm, Pacifica Publicity Bureau, which according to the article, became “the nation’s fifth largest advertising and PR consultancy in just two years from the start.”
“Zorro’s communications career began in 1949 as a staff member of the Manila Broadcasting Co. (DZMB) and he became the youngest news program producer/anchor reporter of MBC’s nightly English news edition. A part-time job as a Radio-TV department manager of the now defunct Philippine Promotions Bureau, the largest PR agency at that time, opened his eyes to broadcasting as a medium of marketing communications.”
Zorrilla is also remembered for having anchored the GMA-7 nightly network news program “News at 7” from the late ‘70s until the early ‘80s.
Looking back on how his career started, Tony Zorrilla was not only a broadcaster who anchored a news program; I recall he also had a powerful booming voice and an impressive command of the English language; but over and above being so at ease in front of a TV camera every evening, he also founded his own communications agency where many of my friends and colleagues worked in the ’70’s and ’80s. He was certainly a man to admire for a newbie like me who bravely set up my own PR agency with hardly
enough experience, network, or resources. That is why to me, who had to work exceedingly hard, he was a legend.
Fast forward to 2025 and by some stroke of luck and friendship, a colleague and good friend of mine—Jocelyn Domingo who herself was an alumna of Pacifica Publicity Bureau, set up a meeting for me with a Zorrilla son—one of the five children of Antonio Zorrilla—Gerry Zorrilla, who humbly told me that it was only he who managed to show interest and carry on the business and the legacy that his famous father left behind. I immediately grabbed this chance to ask him if I could interview him for this column so that I could finally learn more about his legendary father, but also for him to share with our readers some nuggets of wisdom and experience about the work and the agency he’s now running. Thank God Gerry was ever so kind and gracious so I am happy to share all his answers for the benefit of our current practitioners and those like me who have always been awed by the Zorrilla “mystique”.
Gerard O. Zorrilla (Gerry) is now the President and Senior Counsel of Issues Management Group (IMG) where he brings four decades of experience in corporate communications, public affairs, government relations and crisis and issues management.
The Issues Management Group (IMG) is a professional consultancy in the practice of public relations, public affairs and issues management. The firm was born after the merger between corporate public relations and public affairs agency OUTSOURCEPR, Inc. and the crisis and issues management consultancy, SYMPRA, Inc.
IMG is managed by a team of public relations and public affairs professionals, marketing experts and veteran journalists who prefer hands-on management to ensure creativity and results. The team boasts of a wealth of public relations, marketing and communications experience in travel, transport & leisure, banking & financial services, consumer retail and direct selling, chemical, petroleum, mining, automotive, energy, environment & ecology, pharmaceutical/healthcare, food & beverage, broadcast and print media, IT & telecommunications and government relations.
Among IMG’s clientele are the
munication with P w D d rivers on various topics, such as directions, drop-off points, and special requests like air conditioning adjustments. t he k it was co-created with leading organizations advocating for inclusivity for the deaf, such as Deaf e D Ph ilippines, the n ati onal a ss ociation of s ig n Language Interpreters, and the community of P w D G rab driver-partners. It adheres to industry standards for effective communication methods tailored to the needs of deaf individuals.
Bankers Association of the Philippines, Lufthansa German Airlines, Operation Compassion Philippines, Inc., Ovialand, Inc., PHILAB Holdings, Rockwell Land Corporation, Security Bank Corporation, St. Luke’s Medical Centers, Renewable Energy Development Corporation and AbaCore Holdings, just to name a few.
Q. What was your first experience like when you started in the industry where your father was already well known?
After walking away from college, I took an opportunity to go to the US and prove myself able in life. After having worked in telemarketing, I was asked to return home with an offer to train in my father’s agency. And in agency, they had little respect for “children of the owner”.
I spent the first year going through an account management training program—learning the critical functions of the different departments. First, it was an assignment at the creative department learning how to prepare creative briefs, working with creative directors, copy writers, art directors, etc.
I moved on to Radio and TV production and found it the most fun among the ad agency’s service departments (I even continued to dabble in R/TV production during the later years).
Moving on to media planning, it eventually helped address my hesitancy in dealing with numbers and mathematical equations (my weakness). Plans were determined using independent readership, listenership or viewership surveys and calculators to determine the most efficient “cost per thousand readers, viewers or listeners for each plan.
I eventually moved on to account management where I would put what I had learned to use in servicing client accounts I was asked to assist with.
Q. Did you naturally fit in?
I would have loved to say yes, but there was still that juvenile in me that always got into the way of my productivity and responsibilities from time to time. And I got a lot of flak for them. Even got suspended without pay.
Grab Philippines Country h e ad r ona ld r od a shared, “In championing inclusive success for everyone in the digital economy, it is with full dedication that we make sure nobody is left behind. a s w e create livelihood
Q. Give us an idea of how it was to be “mentored” or guided by your dad. What were his strengths?
I guess he was elated when at least one of his seven offspring showed interest in the business. And he was ready to impart practices and principles that worked.
“Zorro” had this knack of explaining really complex theories into simple layman’s terms that made the challenge, strategy and objectives far easier to comprehend and appreciate. It is something I worked on and still practice with my teams and clients.
Peripheral thinking is another knack I learned from him. It enables creative problem-solving, facilitating the identification of fresh perspectives and alternative solutions to issues and challenges. Personally it allowed me, at a very early stage in my career, to better appreciate the true meaning of issues management and strategic communications. It taught me ways of considering problems and generating solutions from various perspectives and for various publics…customers, employees, creditors, suppliers, regulators, legislators, local government units, host and neighboring communities, industry associations, law enforcement agencies, etc.
Q. Was it difficult to follow in his footsteps?
Yes, especially the level and caliber of his creativity.
Q. What were some of your most unforgettable lessons learned from your father and how have they helped you today?
It was actually a mantra he created for the entire firm…I continue to live by it.
BECAUSE OF THE CLIENT
Because the Client has a choice, we better be the BETTER CHOICE; Because the Client has high expectations, we better EXCEL in what we do; Because the Client has sensibilities, we better be CONSIDERATE; Because the Client has urgency, we better be QUICK; Because the Client is unique,
we better be FLEXIBLE; Because the Client has needs, we have our JOBS; Because the Client has influence, we have hope of MORE Clients
Q. Could you share with us a few of the favorite or personal projects you worked on over the years which led you to become the leader you are now.
I guess it was my stint as senior regional manager for PanAsian corporate communications and advertising for German Chemical giant, BASF, the world’s largest chemical company. By the 1990’s BASF, had shifted their growth focus to Asia. But there was very little awareness then, let alone appreciation, for what the company represented and offered the global economy. My mandate involved moving to a regional office to organize and establish a public relations and advertising “office” in BASF offices in twenty countries, spanning the Indian sub-continent, South East Asia and the Australia-New Zealand region. This was subsequently followed by mounting and executing the company’s Pan-Asian corporate brand communications and appreciation campaign. It was indeed a pleasure to meet you Gerry Zorrilla and thank you for sharing your wisdom and experience. I look forward to learning more about “peripheral thinking” and hopefully work with you for this industry that we both love.
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 premiere association for senior communications professionals around the world. Joy Lumawig-Buensalido is the President and CEO of Bu ensalido PR and Communications. She was past Chairman of the IPRA Philippine chapter for two terms.
PR Matters is devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@ gmail.com.
Doncic goes to Lakers, Davis heads to Mavs
By Tim Reynolds
The Associated Press
LUKA DONCIC led Dallas to the National Basketball Association (NBA) Finals last season. Anthony Davis won a championship with the Los Angeles Lakers.
They’re switching teams now—in an absolute blockbuster.
Doncic is being traded by the reigning Western Conference champion Mavericks to the Los Angeles Lakers for Davis, a person with knowledge of the agreement said early Sunday.
Doncic, Maxi Kleber and Markieff Morris are headed to the Lakers, while Davis and Max Christie are going to Dallas, said the person who spoke to The Associated Press on condition of anonymity because neither team can announce the deal while it awaits league approval.
The Utah Jazz also are involved in the deal, said the source. ESPN, which first reported the trade, said Jalen Hood-Schifino and two draft picks will be headed to the Jazz.
The Dallas Morning News also reported those details on the trade.
The trade news broke about an hour after the Lakers beat New York at Madison Square Garden. Davis was not with the Lakers for the game—he has been back in Los Angeles because of an abdominal injury that needed assessing.
Doncic has not played for Dallas since Christmas Day, when he was sidelined with a strained left calf.
“I believe that defense wins championships,” Mavericks general manager Nico Harrison told ESPN.
“I believe that getting an All-Defensive center and an AllNBA player with a defensive mindset gives us a better chance. We’re built to win now and in the future.”
The deal, at least for now, would pair Doncic with
Luka
LeBron James as the new 1-2 punch in Los Angeles, while Davis would be forming a new star duo with Kyrie Irving in Dallas. And it also reunites Doncic with his former teammate, Lakers coach JJ Redick.
Doncic was one of the Mavs on the floor when Redick came out of a game for the final time on May 11, 2021. There was one game still going on in the NBA on Saturday night when reports began swirling of the trade, that being Phoenix-Portland. Suns guard Devin Booker said someone in the stands told him and his teammates of the trade.
“They said Luka. I said, ‘Luka Garza?’” Booker said, referencing a Minnesota center. Booker wasn’t trying to be funny. He just thought what many pro bably thought—that there was no way the Mavericks would move Doncic.
Pons rises to occasion Bernadeth Pons—in action at the net in action against
25-19, 26-24, 23-25, 23-25, 15-9
All-Filipino Conference on Saturday at the Philsports Arena—is named Player of the Week by the PVL Press Corps.
“It’s crazy, man. I really don’t know what to say about it,” Booker said. “Luka being a guy that everybody has claimed is untouchable and untradeable. The NBA shows you again. Can’t predict. It’s a business. They’re always having a conversation about you. So don’t think you’re safer than you are.”
Added fellow Suns star Kevin Durant: “Insane. It’s crazy. Crazy. Damn, would of never thought Luka Doncic would get traded. At his age, midseason, the NBA is a wild place, man. If he can get traded then anybody is up for grabs.”
And there was immediate shock on social media when the news hit as well.
“Luk a getting traded from Dallas has to have a deeper story behind it,” Cleveland center Tristan Thompson wrote on X. “This just doesn’t happen on a random Saturday night.”
“Wait what?” posted Patrick Mahomes, the star Kansas City quarterback who sits courtside at Mavs games occasionally during the offseason, NBA playoffs included.
And Knicks guard Jalen Brunson wondered in another post if it was a joke: “April fools right?” he asked.
Evidently not.
Dallas plays at Cleveland on Sunday, while the Lakers are off until visiting the Los Angeles Clippers on Tuesday night. It’s not clear when Doncic or Davis could play for their new clubs: the trade needs NBA approval, and both are dealing with injuries without any publicly known firm timetable for their returns.
Among players with at least 400 games, Doncic’s 28.6-point average is third in NBA history behind only Michael Jordan and Wilt Chamberlain—both at 30.1. When healthy, he’s typically somewhere between dynamic and unstoppable. AP
Jose Avelino
Louie Gonzalez, as well as the league’s Chief Executive Officer Joe Ramos and Legal Counsel Atty. Glenn Gacal.
Just play the game
THE Ilagan Isabela Cowboys formally joined the Maharlika Pilipinas Basketball League (MPBL) family on Saturday raising the competing teams for the league’s Seventh Season.
MPBL Commissioner Kenneth Duremdes and Ilagan Isabela team owner Jose Avelino Diaz signed the franchise agreement in Paranaque City. Pr esent during the signing ceremony were Isabela Governor Rodito Albano III, Ilagan City Mayor Josemarie Diaz, Isabela Provincial Board member Evyn Jay Diaz, Ilagan City Councilor Jayve Evson Diaz and General Service Ricky Laggui, as well as
NBy Josef Ramos
ORTHPORT is perched atop the standings of the Philippine Basketball Association for the first time in franchise but for Joshua Munzon, their Commissioner’s Cup campaign is far from over.
“We still want to challenge ourselves to be better and continue to step up and improve game by game,” Munzon told BusinessMirror on Sunday. “We know the playoffs won’t be easy no matter who we play, we just want to be ready our opponent and moment,” NorthPort was impressive in the eliminations at 903 won-lost to snatch a twice-to-beat advantage in the quarterfinals along with second-ranked TNT Tropang Giga (8-4), which got the better of the quotient from Converge and Barangay Ginebra San Miguel.
Up next in the playoffs for NorthPort could either be Magnolia or NLEX, which are vying for the No. 8 spot in the quarterfinals..
Munzo n, who erupted with 21 points in a 120-93 win over Blackwater that capped their eliminations assignments last Tuesday, said he is very proud of his team for not giving
councilors Antonio Montereal Jr., Rommel Ballesteros and Ariel Tabangcura, and Ilagan Isabela Cowboys Coach Louie Gonzalez. Represen ting the MPBL are Chief Executive Officer Joe Ramos and Legal Counsel Atty. Glenn Gacal.
“It goes down t o the community, to the province of Isabela and the City of Ilagan’s community,” Diaz said.
“We love sports so we saw it as an opportunity to help our homegrown talents to give them the inspiration and the opportunity to grow as well.”
“It’s high time for us to reclaim the moniker that we are one of the sports
up and proving themselves out.
“It’s definitely something that we’re so proud of—being the top seed and being able to show that we can compete against anyone.”
Munzon averaged 18.4 points, 3.0 rebounds and 3.6 assists in 12 games in the elimination for the Batang Pier, who played their best basketball ever in 13 years in the league.
NorthPort’s prolific import Kadeem Jack—who averaged 31.6 points, 11.4 rebounds, 1.5 assists and 1.3 blocks in the elimination round—was fit to a T for NorthPort locals Arvin Tolentino, Munzon, Fran Yu, Paolo Taha, William Navarro and rookie Evan Nelle.
tourism hubs in the north,” he said. “We want to showcase our sports facility, particularly the Capital Arena which can host around 10,000 people. We want to promote the city and the province.”
“MPBL has a v ery big fanbase in our city. We have a lot of talents from the province that play in the MPBL. We have been dreaming of an opportunity like this, kaya nung nag-open for expansion we’re very excited and matutupad naming ang pangarap ng Isabela and the city,” added Diaz, baring that they have been forming a very good team composed of passionate and sincere players.”
rise of Isis—only saw things get worse. Why isn’t the US crucified for that invasion? Or you mean we can condemn Russia for its actions in Ukraine (but completely ignore their annexation of parts of Georgia)
stage. Romero, a former varsity basketball player, has been a leading figure in Philippine sports with his involvement in basketball, cycling, shooting, volleyball and polo, among other sports. He was elected party-list representative of 1-Pacman in 2016 and his business interests include ports operations, airlines and power.
“It’s a big honor for me to represent the country in this US Open,” said Romero, who will be serving out his third term as 1-Pacman party list representative this year. “While qualifying for the US Open is accomplishment enough, we hope to make an impact on the competition as we mount a challenge on the dominance of the established powers of the polo world.”
Globalport Polo enters the 2025 competition with a formidable lineup led by one of the best players in the world—Argentina’s Barto Castagnola. Ranked No. 2 globally, Castagnola comes off an impressive victory in the Argentine Open and the UK Gold Cup. His experience and skill will be invaluable to the team, which also includes 17- year-old prodigy Beltran Laughle, a 6-goaler who is making a name for himself as one of the sport’s most promising young talents. Rounding out the team is Lucas Alberdi, an American-born player known for his strategic approach and solid performance on the field.
The US Polo Open, organized by the United States Polo Association (USPA), is the most prestigious polo tournament globally, boasting a rich 120-year history and is held annually in Wellington—the 22-goal competition attracts the world’s finest polo players.
The 2024 US Polo Open championship, which served as the backdrop for the Netflix series Polo, has generated widespread interest in the game.
The series, produced by Prince Harry and Meghan
Wasn’t the
in their invasion of
when
were
of mass destruction? The chaos that followed—the disintegration of Iraq and the
aren’t women? That unspoken “thing” is more than good enough than foisting one’s beliefs onto the other. Just because you have strong views about a certain topic, that doesn’t mean you should voice it out in an improper venue. Besides, the other party feels that you have it backwards. Let’s just play the game. It’s best to beat the other and crow about it afterwards.
Open Polo Championship when Rep. Mikee Romero and his Globalport
MIKEE ROMERO trains with his team at the Miguel Romero Polo Field in Calatagan, Batangas.
THE deal, at least for now, would pair
Doncic with LeBron James, while Anthony Davis would be forming a new star duo with Kyrie Irving in Dallas. AP
COMMISSIONER Kenneth Duremdes and Ilagan Isabela team owner
Diaz with Isabela Governor Rodito Albano III, City of Ilagan Mayor Josemarie Diaz and Councilor Jayve Evson Diaz, Isabela Provincial Board Member Evyn Jay Diaz, Ilagan City General Service Ricky Laggui and councilors Antonio Montereal Jr., Rommel Ballesteros and Ariel Tabangcura and Ilagan Isabela Cowboys coach
Cignal defenders during Creamline’s
escape in the Premier Volleyball League (PVL)
JOSHUA MUNZON and the Batang Pier are in their best elements so far in 13 seasons in the league as they occupy the top of the standings.
Bronze medalists One Silay Sports’ Anthony Munez soars at the net against Umingan’s Victor Seth Jimenez in the Negrenses bronze medal-clinching 22-25, 32-30, 25-20, 25-19 victory on Sunday in the Philippine National Volleyball Federation Under-21 Championship National Men’s Division at the Ninoy Aquino Stadium. Roy Domingo
