ORE Filipinos could benefit from the monetary policy stance of the Bangko Sentral ng Pilipinas (BSP) if there are more incentives to invest in the capital market, according to a regional think tank. I n an email to BusinessMirror , A sean+3 Macroeconomic Research Office (AMRO) Group Head a nd Principal Economist Runchana Pongsaparn said the policy rate has increased by 4.5 percentage points between 2022 and 2024, leading key policy rates to peak at 6.5 percent.
Despite this, Pongsaparn said the country’s average savings deposit rate only climbed 1.9 percentage points. This means, it only peaked 2 percent.
“ The government may consider granting tax incentives for i nvestment in the capital market,” Pongsaparn told BusinessMirror
“These efforts will not only improve policy rate transmission but a lso help households utilize their savings more efficiently.”
Th ese incentives can make higher-yielding term deposits or unit investment trusts, whose returns are more sensitive to policy rates, more attractive for Filipinos.
Strengthening competition for bank funding would push banks to adjust their deposit rates more rapidly,” Pongsaparn said. “Crucially, authorities should also ensure that these investment alternatives are accessible to Filipinos across the income spectrum and demographics.”
them available to both bank
A part from strengthening the passthrough from the policy rate to bank financing, Pongsaparn told BusinessMirror there is an overall need to improve the quality of household credit data.
Th is entails the use of alternative credit data sources such as payments to utility companies or online s hopping platforms to supplement credit assessments.
“Credit records are limited as only a quarter of Filipinos have access to formal credit. Although the C redit Information Corporation [CIC] collects credit histories, banks still face challenges with data quality and coverage,” Pongsaparn said.
“ The BSP and CIC should work together to improve the accuracy and completeness of credit data and make
BusinessMirror
NOV GOCC SUBSIDIES UP
82%; 11-MO TOTAL DOWN
By Reine Juvierre S. Alberto
BUDGETARY
support to governmentowned and -controlled corporations (GOCCs) surged by over 80 percent in November 2024 but dropped by 15 percent over the 11-month period year-on-year, data from the Bureau of the Treasury (BTr) showed.
Subsidies to state-run firms increased by 81.64 percent to P12.232 billion in November 2024 from P6.734 billion during the same month a year ago. This was also 2.20 percent higher than the P11.968-billion subsidies in October 2024. However, GOCCs were given lesser budgetary support from January to November 2024. Subsidies during the 11-month period amounted to P129.442 billion, 15.42 percent lower than the P153.050 billion a year ago. R izal Commercial Banking Corporation Chief Economist Michael L. Ricafort told the BusinessMirror this is due to the national government’s tight fiscal space amid a series of typhoons that required calamity-related assistance. Meanwhile, the spike in subsidies in November “could be partly attributed to the increased disbursement/utilization of budget after some government underspending earlier in 2024, especially in the third quarter of 2024,” Ricafort said.
SUPPLY SEEN BETTER, BUT RE PLAYERS BANK ON GOVT MOVES
By Lenie Lectura
@llectura
WHILE power industry stakeholders keep investing to help government achieve renewable energy (RE) goals, they raised a common concern—to execute, as soon as possible, the policies and guidelines that are already in place.
I n separate interviews, top officials of power firms said supply this year is going to be “better” given the number of projects under development and nearing completion.
“As for supply-demand outlook, we expect a better supply situation in 2025 given the
operational commencement of large thermal plants. We also expect new renewable energy plants to come online starting this year,” ACEN Corp. President Eric Francia said. A mong others, the main concern of the power generation arm of conglomerate Ayala Corp. is grid stability. “Given the variable nature of renewables, we need to step up efforts to integrate more energy storage into the grid,” he said, referring to battery energy storage systems (BESS). Solar and wind, for instance, when paired with BESS, could store power and dispatch it when needed.
The Department of Energy (DOE) hears this and has, in fact,
included Integrated Renewable Energy and Energy Storage System (IRESS) in the fourth round of Green Energy Auction (GEA4). However, actual auction has not been determined yet. In fact, the long-awaited GEA3 was pushed back from the original target completion date last year.
Th e DOE defines IRESS as a comprehensive energy solution that combines RE technology with energy storage systems, resulting in a more consistent and efficient supply of power.
Meralco PowerGen Corp. (MGen), the power generation arm of electricity distribution giant Meralco, also expects “2025 to be a better year in terms of
supply and reserve margins.”
MGen president Emmanuel Rubio believes the grid will have sufficient supply this year given the entry of Excellent Energy Resources Inc. (EERI) and a number of solar plants, including some of MGen facilities in the north. And, with the forecasted La Niña in the first quarter of 2025, hydro plants are expected to generate at higher capacities compared to 2024. However, to ensure energy projects that were given national significance, I would like DOE to strengthen the guidelines and provisions in order to align all the in-
HOLDING firms and non-bank financial institutions (NBFIs) have more influence in terms of investments in companies compared to banks, according to the government’s think tank. In a discussion paper, Philippine Institute for Development Studies (PIDS) Research Fellows Aubrey D. Tabuga and Ramonette B. Serafica as well as research analyst Madeleine Louise S. Baiño found that while banks are crucial links in the financial system, they have less influence than holding firms and NBFIs.
Th e researchers, using network analysis, plotted the network of the financial systems and found that it was m ainly made up of NBFIs and holding companies, followed by banking institutions and individuals/estates.
“Holding companies are in a position that enables them to reach many companies because they are of short distances to these actors. Their power and influence within the network emanating from their positions are fundamental because these are global measures of centrality,” the researchers said.
Various holding companies are therefore highly central and influential owing to their ability to invest in many companies within the financial sector,” they added.
The PIDS study also found that in this network, government entities like the
Marbil…
Roving medical teams on scooters will run on narrower street routes of the procession while two rescue boats, along with other PRC assets such as rescue truck, fire truck, humvee, 6x6, and service vehicles will be deployed.
An emergency medical unit, including a six-bed emergency response (ER) module to handle minor wound cleaning, and a 50-bed capacity ward to hold and treat patients, is also being set up.
In all, 80 people will see action— five doctors, 10 nurses, 25 support allied health volunteers (students, doctors, and nurses), 15 staff from Health services and Metro Manila chapters, and 25 tent builders for set up and dismantling of the emergency field hospital.
“ The Red Cross stands ready to ensure the safety and wellbeing of thousands of devotees for a peaceful and solemn Traslacion. Given the expected large crowds, we will exercise a n elevated level of vigilance to our response operations on the ground through our dedicated first aid volunteers and teams who are prepared for any situation or crises,” said PRC Chairman and CEO Richard Gordon.
PRC Secretary General Dr. Gwen Pang said that PRC’s Nazareno operations are a team effort from all chapters and branches in Metro Manila and nearby provinces.
“We assure the devotees that when an emergency breaks out during the procession, they will be readily accommodated at our first aid stations, and Red Cross personnel will be there to help,” she said. Rex Anthony Naval, Claudeth Mocon-Ciriaco
Government Service Insurance System (GSIS) and Social Security System (SSS); equities and holding companies; and services companies bridge separate business groups. It also showed that while removing banks would disrupt the financial system “in a significant way,” it had a weak link to sectors such as manufacturing, mining, and construction.
Another observation is that banks mainly relate to NBFIs around them as owners/investors [with arrows coming from banks going to NBFIs] rather than as recipients of investments. Banks receive investments from holding com-
Bans, road closures SEVERAL restrictions and road closures will be implemented across Manila to ensure public safety.
A no-sail zone will be enforced within a one-kilometer radius of the Quirino Grandstand from January 6 to 10.
panies and individual investors,” the researchers said.
The data used in the study was limited to publicly-listed companies due to the availability of data from the Philippine Stock Exchange website as well as the official company websites of those included in the study.
The study covered 70 percent of the Top 20 Universal and Commercial Banks and 45 percent of Top 20 Thrift Banks based on the Bangko Sentral ng Pilipinas (BSP) data as of December 2023.
“ The network is also considered as a sparsely connected network with the various centrality measures ex-
Devotees… Afghans…
D uring a Senate hearing presided by Senate foreign affairs committee chair Imee Marcos, concern was raised that Al Qaeda sympathizers in the Philippines may attack the Philippines in response to its hosting the Afghan allies of the Americans. There were also concerns that some of the Afghan ap -
A gun ban is in place throughout Manila from January 8 to 11, while a liquor ban will cover barangays surrounding Quiapo Church from January 8 to 10.
hibiting a power-law distribution where most have very low centrality scores and only very few have very high scores,” the researchers said.
This indicates a relatively unequal influence within the network as only very few entities can maximize their network positions. A more densely connected network would have a relatively normal distribution,” they added.
The network of financial institutions comprises mostly NBFIs at 37 percent and holding companies with nearly 16 percent in the network of publicly listed financial companies.
This included individuals/estates that formed 12 percent of the total followed by banks, 10 percent; Other services, 9 percent; property sector, 8 percent; industrial sector, 5 percent; and rural banks, 1 percent. Cai U. Ordinario
M eanwhile, roads along the procession route will be closed starting at 9pm on January 8, with only authorized vehicles allowed to pass through.
The Metropolitan Manila Development Authority (MMDA) said clearing operations will immediately follow the procession to ensure roads are reopened to the public promptly.
“Right after the procession starts, our, clearing operations will quickly follow, cleaning up the trash along the way. At the end, until it reaches Quiapo Church, along the way, that will be cleaned promptly,” MMDA General Manager Procopio Lipana said.
with this proposed arrangement.
plicants could be “sleeper cells” or spies of Al Qaeda. (see related story: https://businessmirror.com.ph/2023/06/17/explainerwhats-the-fuss-about-bringing-afghansto-the-philippines/)
“We made sure that all our intelligence community members are also comfortable
Nov…
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Election-related spending ahead of the 2025 midterm elections may have also caused the higher subsidies, as some government infrastructure projects and other programs need to be expedited before the election ban, according to Ricafort.
Non-financial firms get top load
OF the subsidies extended in November 2024, major non-financial government corporations cornered the highest amount with P11.088 billion.
M ore than half of the allocation, or P6.836 billion, was given to the National Irrigation Administration (NIA). The National Food Authority (NFA) also received P3 billion while the National Electrification Administration obtained P900 million.
I n 2023, PhilHealth obtained the highest subsidy worth P50.746 billion out of the total P163.535 billion. However, this year, the staterun health insurer will not be receiving any budgetary support from the national government after the congressional Bicameral Conference Committee for the 2025 budget bill removed its subsidy.
Government officials argued that PhilHealth has “adequate” reserve funds to continue the payment of members’ health benefits and even improve its benefit packages.
PhilHealth said its reserve funds are worth P281 billion while its surplus funds amounted to P150 billion as of October 2024. Its investment portfolio, meanwhile, reached P489 billion as of November 2024.
“There is no zero-risk situation, but after all of the discussions between our two intelligence communities, I think they came to that shared conclusion that this is doable within the parameters of risk and parameters that we’re comfortable with,” the official said.
The temporary housing of Afghan visa applicants demonstrates the “enduring” partnership between the Philippine and US governments as well as the friendship between Filipinos and Americans, the official stressed.
A bout P1.012 billion was extended to other government corporations, such as the Philippine Children’s Medical Center (P211 million), Philippine Heart Center (P168 million) and National Kidney Transplant Institute (P163 million). Me anwhile, government financial institutions received P132 million, of which P127 million and P5 million were secured by the Social Housing Finance Corporation and Credit Information Corporation, respectively.
O ver the 11-month period, the highest subsidy amount among the 44 state-run firms went to the NIA with P67.049 billion, followed by the Philippine Health Insurance Corporation (PhilHealth) at P9.599 billion and NFA with P8.250 billion.
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to local levels in order to deliver these critical projects on schedules.
We should continue to harmonize national and local laws to ensure consistent application of guidelines and policies in executing energy projects of national significance,” said Rubio.
Th e umbrella organization of all RE associations in the country likewise thinks the DOE should follow through the policies and regulatory issuances meant to attract more foreign investments, especially in the RE space.
“In 2025, it is time to follow through these policies with actual programs,” DREAM President Atty. Jose Layug Jr. said. These include the conduct of GEA for onshore and offshore wind; ground-mounted, floating and rooftop solar; biomass and waste-to-energy resources; geothermal; run-of-river and impounding hydro; integrated renewable energy storage systems opportunities; and natural gas utilization, both through liquefied natural gas and exploration of indigenous gas resources.
Solar growth tripling
SOLAR is poised to triple its growth starting this year, according to the Philippine Solar and Storage Energy Alliance (PSSEA). “Solar will once again dominate the RE sector in 2025, given the continuing production and innovation in the photovoltaic space,” said PSSEA Chairperson Theresa Cruz Capellan.
Her expectations are mainly based on DOE’s promise to conduct GEA 4 this year. “The industry strongly urges the DOE not to slide back and instead relentlessly pursue its net zero emission goals by ensuring the implementation of the contracting round for solar in the first quarter of 2025,” the group said.
The one-year gap in the scheduled auction has already sent jitters to potential investors. The PSSEA warned that any further delay in the upcoming GEAP 4 will greatly impact the commitment of funders and partners. Still, it applauded DOE for including IRRES in GEA4 as this will provide short-term solution and allow additional solar capacity into the grid. “We urge DOE to remain steadfast in its commitment to renewables and introduce storage solutions to the 2025 auction schedule,” it emphasized.
The Philippine Independent
Power Producers Association, Inc. (Pippa)—combining 28 power firms with 18,132 megawatts (MW) grid installed capacity—is hopeful that DOE and the Energy Regulatory Commission (ERC) will implement policies and regulations that remove investment road blocks, enabling more plants to be built.
We would also want to see updated studies to ensure that the planning tools and forecasts of demand and supply are accurate and in keeping with the growth of the country.
“Lastly, for 2025, we would like to see an improvement in policy and regulation for the generation sector. When the issues that persist are addressed, we will have a vibrant energy industry and we can most definitely be on its way to a welllit path,” said Pippa President Atty. Anne Escoro Montelibano.
L opez-led First Gen Corp., for its part, said it will continue to enhance utilization of its gas plants as a transition fuel and grid stabilizer, improve efficiencies of the CasecnanPantabangan hydro-power complexes; and go full swing with the Aya pumped storage facility.
One of our big priorities is climate change, and part of this advocacy is to promote RE. The biggest advantage of RE is that it enhances energy security because you don’t need to import fuel. We have about 83 MW will be operational by 2025; the BESS; and we’re also hoping to build solar,” the company said.
Transmission crucial TRANSMISSION is as just as important as generation in the power business. With sufficient power supply expected this year, the transmission and distribution sectors also need to step up so that consumers can reap the benefits of the multibillion-peso investments poured into the generation sector.
The National Grid Corporation of the Philippines (NGCP) vowed to complete more transmission projects this year for as long as regulatory approvals are secured.
In 2025, we aim to build on this year’s momentum as we work toward completing more projects in the pipeline. These include the New Antipolo 230kV Substation in Rizal, the Laguindingan 230kV Substation in Misamis Oriental, and various substation upgrades, voltage im-
Based on the 2025 General Appropriations Act, state-run corporations will receive P127.427 billion as budgetary support this year. This went down by 32.30 percent from P188.229 billion in 2024.
GOCC subsidies would be a function of the latest 2025 national budget dynamics such as vetoed items and other budget exclusions that could result in some reduction in the coming months of 2025,” Ricafort said.
Firms that generate more income and operate efficiently would require less financial assistance from the national government while those with lower profitability would need more subsidies, especially as they are fulfilling mandates that serve the general public, he added.
provement initiatives, and reliability projects across Luzon, Visayas, and Mindanao,” the grid operator said. It asked for the support and cooperation of concerned government agencies which, NGCP stressed, are “crucial to our operations.”
Our wish is for stakeholders to extend the necessary assistance to ensure timely project completion,” it stressed.
ERC, the power regulator, is moving to swiftly act on pending cases. “We continue to work towards improved conditions for 2025—we may not control or predict the weather, especially with climate change, but we can improve our responses,” said ERC chairperson Monalisa Dimalanta. Power distribution giant Meralco, meanwhile, is looking forward to sealing more power supply agreements via competitive auctions. “ In 2025, Meralco will continue to be proactive in securing competitive power supply agreements through Competitive Selection Process as we pursue our grid modernization efforts that will make our facilities even resilient and adaptable to the evolving demands of our customers.
“On the customer service side, we believe that we need to continuously enhance our digital platforms for better customer experience and faster service delivery,” said Meralco spokesperson Joe Zaldarriaga.
Meralco and its business units, subsidiaries and partners will also push for a just, orderly and affordable energy transition that balances sustainability and energy security.
“We remain committed to supporting government policies, and also doing our part in helping both underserved and unserved areas to get access to stable, and reliable service through our One Meralco Foundation,” added Zaldarriaga. For consumers, the ERC is launching an aggressive campaign meant to help them better prepare for power supply in the summer. Various ERC programs, Dimalanta said, allow small consumers to consolidate their demand and contract directly for their own supply. “It will empower them to access better prices in the retail market to increase affordability of supply,” the ERC chief said.
T he goal of all stakeholders is clear: achieve energy security and keep power rates affordable.
“Everybody wants the same. We are counting on everyone to make it happen,” said Energy Secretary Raphael Lotilla.
Fourth impeachment complaint against Sara expected Monday
By Jovee Marie N. dela Cruz @joveemarie
ALAWMAKER on Sunday
revealed that a fourth impeachment complaint against Vice President Sara Duterte is anticipated to be filed on Monday, adding further momentum to calls for her removal from office.
ACT Teachers Rep. France Castro said the fourth impeachment case will likely be endorsed by a combination of majority and minority lawmakers, with 10 to 12 expected endorsers.
“There is a strong clamor to impeach the Vice President. The fourth complaint is reportedly set to be filed tomorrow [Monday],” said Castro, noting that they have no details yet on which sector would file the complaint.
“Hopefully, the consolidation process will be expedited, and the one-third endorsement secured so it can be forwarded directly to the Senate,” Castro said in a radio
interview.
Castro anticipated that, like the first three complaints, the fourth will primarily focus on betrayal of public trust.
“Let’s wait for tomorrow [Monday]; we expect the grounds to be similar. The common one is betrayal of public trust,” she said.
Castro also announced plans for a January 8 meeting among endorsers of the first three impeachment complaints to strategize and push for the consolidation of efforts in line with constitutional processes.
“We have a letter prepared to be delivered by Monday to our
Coast Guard deploys assets to challenge China’s ‘Monster Ship’
TBy Rex Anthony Naval
HE Coast Guard (PCG) on Saturday announced that it has deployed maritime and air assets to monitor and challenge China Coast Guard (CCG) vessel 5901 (also known as the “Monster Ship”), which was spotted some 54 nautical miles off the coast of Capones Island, Zambales.
In a statement, the PCG said the Chinese ship was detected using the
“[Upon detection], Admiral Ronnie Gil Gavan, the PCG Commandant, promptly dispatched BRP Cabra [MRRV-4409] along with a PCG helicopter and PCG Cessna 208 ‘Caravan’ surveillance aircraft to verify the incursion and assert their presence,” it added.
CCG 5901 weighs around 12,000 gross tons and is considered China’s largest Coast
Senator renews call for stricter road safety rules
By Butch Fernandez @butchfBM
SENATE Minority Leader Aquilino Pimentel III renewed his call for stricter measures to address the alarming rise in road accidents, citing the recent report from the Department of Health (DOH) that said 577 road accidents were recorded from December 22, 2024 to January 2, 2025.
“Hindi na dapat natin balewalain ang mga aksidente sa kalsada. Kailangan ng mas mahigpit na batas at mas mahusay na pagpapatupad upang maprotektahan ang ating mga mamamayan,” Pimentel said. Pimentel is the author of Senate Bill 1015, which seeks to amend Article 365 of Act 3815 (Revised Penal Code), as amended, to address reckless driving and promote road safety.
Pimentel’s bill aims to implement stricter penalties for traffic violations, improve driver education and training, and enhance road infrastructure.
In the measure, Pimentel explained that the State should take a more active role in reforming the mental attitude or condition that leads to reckless driving.
Pimentel’s bill also seeks to give the law more teeth by amending Article 365 of the RPC to increase the penalty of imprisonment for imprudence and negligence.
“Maiiwasan at mababawasan ang mga aksidente sa kalsada sa pamamagitanngpagpapatupadngmasmahigpitnabatasatpagpapahusay sa ating sistema ng transportasyon,“ Pimentel added.
The senator stressed the importance of public awareness and responsible driving habits. He urged motorists to prioritize safety and follow traffic regulations.
“Tandaannatinnaangbawatbuhayaymahalaga.Magingresponsable sa pagmamaneho at sundin ang mga batas trapiko upang maiwasan ang mga aksidente,” Pimentel added.
Comelec chief to bets: Do not campaign at religious events
By Justine Xyrah Garcia
AS the 2025 midterm elections draw closer, the Commission on Elections (Comelec) warned candidates against using religious activities as platforms for campaigning.
This reminder comes as Roman Catholics prepare for the Feast of the Black Nazareno on January 9, one of the most significant religious events in the country. The Traslacion itself is expected to draw millions of devotees seeking spiritual renewal and healing.
In a news conference, Comelec Chairman George Erwin M. Garcia urged political hopefuls to respect the solemnity of the occasion and refrain from turning it into an opportunity for self-promotion.
“Gustolangnatinipa-alalasamgapulitikonaiti-take advantage ang ganitong okasyon ataktibidadngsimbahannasanaigalangnamannila angkarapatanngmgakababayannatinnamanampalataya,” Garcia said.
He emphasized that the Traslacion, deeply rooted in Filipino culture and devotion, should remain a purely spiritual event.
Since December 31, activities leading up to the Traslacion have been ongoing. This has also raised concerns about potential misuse by some election hopefuls.
Garcia warned that such actions might include distributing campaign materials or organizing feeding programs along the procession route. These, he said, could distract from the event’s religious purpose and interfere with the devotees’ experience.
“Ang sinasabi lang natin, isang araw lang ito kumpara sa 45 sa lokal at 90
Guard ship to date.
By 5:00 p.m. Saturday, the PCG said BRP Cabra and the surveillance aircraft confirmed that the Chinese ship was indeed in the area identified by the DVD.
“The PCG vessel and aircraft continuously challenged the presence of the CCG, emphasizing that it was operating within the Philippines’ exclusive economic zone [EEZ] in accordance with the Philippine Maritime Zones Law and Unclos [United
Nations Convention on the Law of the Sea],” the agency said.
By 8:00 p.m. Saturday, the PCG said the BRP Cabra (MRRV-4409) is still monitoring the Chinese vessel as it heads west, now 85 nautical miles away from Zambales.
“The PCG remains committed to closely monitor this Chinese Coast Guard ship to ensure that Filipino fishermen can operate safely and without harassment within our EEZ,” it added.
colleagues who endorsed the first to third complaints. Our planned meeting on January 8 to push for this impeachment is still tentative,” she said.
The grounds cited in the earlier complaints include culpable violation of the Constitution, betrayal of public trust, plunder, malversation, technical malversation, and bribery.
The House has emphasized its constitutional duty to act on duly filed impeachment complaints.
House Secretary General Reginald Velasco reiterated that handling impeachment cases is a mandate, not a matter of discretion. He
said the Constitution prescribes clear steps to ensure fairness and adherence to the rule of law. Velasco explained a verified complaint for impeachment may be filed by any member of the House of Representatives or by any citizen upon a resolution of endorsement by any member thereof. Under the 1987 Constitution, the Office of the Speaker has 10 session days to include the complaint in the order of business and three session days to refer it to the Committee on Justice. However, Congress is on Christmas break and will resume session on January 13, 2025.
PCG Cessna 208 “Caravan” surveillance plane
SC ruling favoring commercial fishing draws flak
By Jonathan L. Mayuga @jonlmayuga
POCKETS of protests to big rallies are expected to greet the New Year with fishermen’s groups threatening to storm the Department of Agriculture (DA) and the Bureau of Fisheries and Aquatic Resources (BFAR) over a Supreme Court ruling that favors commercial fishing firms on municipal fishing grounds.
The Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya), a national alliance of small fishermen’s organizations, said its members will troop to the DA next week to protest the ruling allowing commercial fishing vessels to operate within the 15-kilometer municipal waters.
Pamalakaya Vice Chairman Ronnel Arambulo said in a statement more than million registered small or subsistence fishermen and their families stand to be affected by the SC ruling which will now allow commercial fishing vessels with the capacity to catch huge volumes of fish to catch fish in deep portions of the municipal fishing grounds.
The Philippine Fisheries Code of 1998 (RA 8550) defines the capacity of commercial fishing vessels by their gross tonnage (GT) as follows:
n Small-scale: 3.1–20 GT
n Medium-scale: 20.1–150 GT
n Large-scale: More than 150 GT
Commercial fishing vessels are used for fishing outside municipal waters, which are more
than 15 kilometers from the shoreline.
On December 19, 2024, the Supreme Court upheld a 2023 decision by the Regional Trial Court (RTC) in Malabon that allowed the Mercidar Fishing Corporation to fish in municipal waters.
The decision invalidated the Fisheries Code’s section on municipal government jurisdiction over commercial fishing and struck down the ban on commercial fishing in waters less than seven fathoms deep. It became a summary decision as the Office of the Solicitor General (OSG) missed the filing deadline for a motion for reconsideration.
Commercial fishing vessels that can haul at least three tons of fish in one expedition can seriously outcompete small fishers whose capacity is very limited to catch commercially viable fish. Some fishermen claim to bring home
PSA: Fewer family members engage in fishing
Tonly as much as five kilos a day, just enough to put food on the table and cover the cost of gasoline for their motorized bancas.
To register their dismay over the decision, Pamalakaya vowed to hold the DA accountable for its “failure” to uphold the preferential rights of small fishermen to their traditional fishing grounds.
Arambulo said fishermen from several areas in Manila Bay, La Union and Cebu are set to join the protest in Quezon City.
The group earlier warned that the municipal fisheries output in the first quarter of the year might “fall significantly” once the controversial ruling issued by the SC’s First Division takes effect.
In the third quarter last year, the total volume of the municipal fisheries production was estimated at 196.13 thousand metric tons, or 20.3 percent of the entire fisheries production in the said quarter.
Arambulo said as if the decline in fisheries production over the years is not enough, another serious threat to municipal fisheries production now looms because of the SC decision.
“Instead of strengthening the capacity of small fishermen to contribute to overall food production, it [SC order] is further weakening their capacity because of the prevailing unfair fisheries rules and regulation,” Arambulo said.
He added that Pamalakaya will challenge the ruling by gathering petitions from the affected municipal fishermen and by working with the local governments that share the same opposition.
The group also blamed the heads of the DA and Bfar for their alleged inaction over the pressing issue that stands to affect over two million small fishermen in the country.
By Ada Pelonia @adapelonia
HE number of family mem -
bers who engage in fishing have dropped likely owing to livelihood transition and declining interest from the youth, based on the census of the Philippine Statistics Authority (PSA).
In its latest report, the agency said the average number of fishing operators per household in the Philippines dipped by 1.8 percent to 1.03 in 2022, from 1.05 percent in 2012.
“This suggests that fishing is becoming more of a household activity with fewer members per household actively engaged as operators, potentially due to diversification or transition
of livelihood or a decrease in younger generations engaged in fishing,” the PSA said. The agency said historical data from 2012 and 2022 showed that middle-aged fishing operators, or those belonging in the age group 30 to 49 years, dominated household-based fishing operations.
In 2022, the 30 to 39 age group accounted for 25.3 percent or 215,751 fishing operators, while the 40 to 49 age group followed closely with 25.1 percent or 214,208 fishing operators. Similarly, in 2012, the 30 to 39 age group led with 214,267 fishing operators, accounting for 26.9 percent, while the 40 to 49 age group contributed 209,504 fishing operators or 26.4 percent.
2025 rent hike cap cut
By Bless Aubrey Ogerio
THE National Human Settlements Board (NHSB) announced that rent increases for residential units with a monthly rent of P10,000 or less will be limited to 2.3 percent this year, a decrease from the 4 percent cap set in 2024.
This change, which will take effect until December 31, 2025, came after a recommendation from the National Economic and Development Authority last December to “shield tenants
Comelec. . .
Continued from A3
from steep rent hikes.”
“The rental cap is being implemented to safeguard housing tenants in lowerincome brackets and other beneficiaries from excessive rent increases,” a press release from the Department of Human Settlements and Urban Development said.
The new hike cap will apply to current tenants who are still renting the same unit this year. However, the cap does not apply if the rent is higher than P10,000 a month.
For units that become vacant in 2025, landlords
However, the PSA said fishing operator demographics in the country between 2012 and 2022 revealed a decline in those under 50 years old, while those above 50 years saw significant growth.
PSA data showed that fishing operators below 50 years old shrank by 3.6 percent to 557,368 in 2022 from 578,249 in 2012. Those over 50 years old surged by 36.4 percent to 295,697 from 216,821 in the same period.
The agency said Zamboanga Peninsula and Caraga indicated significant growth among operators aged 50 years and above, hitting 116.3 percent and 110.0 percent, respectively.
It added that eight out of 17 regions reported a decline in
operators below 50 years old, with the sharpest declines in the younger age group observed in the National Capital Region (NCR), which was down by 67 percent and Soccsksargen (South Cotabato, Cotabato, Sultan Kudarat, Sarangani and General Santos) by 44 percent.
The PSA said these results are based on the 2022 Census of Agriculture and Fisheries (CAF) conducted among households and non-household entities that engaged in fishing activities from January 1 to December 31, 2022.
It added that household interviews for the 2022 CAF were conducted in September to November 2023, while non-household interviews were conducted in May to July 2023.
by 1.7 percentage points
can set their own rent for new tenants, as they are not covered by this rule.
There is also a limit on rent increases for boarding houses, dormitories, rooms and bedspaces, as these rentals can only be adjusted once during the year, even if the full 2.3 percent increase has not been reached.
This move is part of the government’s effort to keep housing affordable for tenants under the Republic Act 9653, or the Rent Control Act of 2009.
Residential unit
includes apartments, houses, boarding houses, dormitories, rooms and bed spaces used primarily for living. Meanwhile, it excludes motels and hotels. Units used for home businesses are also included if the owner lives there.
Starting in 2026, a new cap of 1 percent will apply to residential units rented by the same tenants in 2025.
Landlords who violate the rent rules could face a fine between P25,000 and P50,000 or up to six months imprisonment.
Legislator: Prioritize infrastructure projects
By Jovee Marie N. dela Cruz @joveemarie
ASENIOR lawmaker on Sunday urged the national government to front-load infrastructure projects, particularly those aimed at repairing the structures severely damaged by last year’s typhoons, before the election spending ban begins on March 28, as provided under the Omnibus Election Code.
Camarines Sur Rep. Luis Raymund Villafuerte made a statement as he warned that the proposal for the Department of Public Works and Highways (DPWH) to postpone the implementation of some public works until after the midterm elections, including those aimed at repairing infrastructure projects severely damaged by typhoons that struck last year, could jeopardize government efforts to strengthen climate resilience, generate jobs, and sustain economic growth.
Delaying these projects, Villafuerte said, particularly those aimed at enhancing resilience in climate-vulnerable areas ahead of this year’s typhoon season, exposes communities to further risks from increasingly severe natural calamities brought about by the climate crisis.
line-item budgeting in the 2025 GAA and are legally distinct from unconstitutional pork barrel allocations as defined by the Supreme Court in the landmark Belgica v Ochoa ruling.
“Rather than being sourced from lump sum discretionary outlays in the annual GAA and identified by legislators after the enactment of the national budget, these projects, whose implementation Drilon wants to be deferred till after the May polls, have been identified or listed under the lineitem budgeting in which every one of them has a specific allocation or line under the budget of a specific agency, which, in this case, is the DPWH [Department of Public Works and Highways], based on the GAA already enacted into law by the President,” Villafuerte said.
“Moreover, these projects are designed to create more jobs and drive higher growth, especially in the countryside where these are to be implemented,” said Villafuerte, “considering that infrastructure works have the highest multiplier effect on the economy—in terms of stimulating local economies and spawning direct and indirect jobs and providing incomes to Filipinos.”
sa national na araw ng campaign period. Therefore, ibigay na lang po natin dito ang araw na ito. Huwag na natin i -take advantage,” Garcia said.
“Isang araw lang po ito, ibigay na natin sa Diyos,” he added. The official campaign period
for national candidates, including senators and party-list representatives, will begin on February 11 and end on May 10. Meanwhile, local candidates will have from March 28 to May
10 to campaign.
Until these periods start, those aspiring for public office are not yet considered official candidates and are not bound by rules prohibiting premature campaigning.
“Putting infrastructure projects on hold till the year’s second half, especially those planned public works meant to make vulnerable communities highly resilient ahead of this year’s typhoon season, will mean putting these places at risk anew this year for the tropical cyclones and other natural calamities of increasing frequency and intensity as a consequence of the climate crisis,” Villafuerte said.
He also criticized former Senate President Franklin Drilon’s recommendation to classify these projects as “for later release” (FLR) under the General Appropriations Act (GAA) for 2025, claiming it mislabels these initiatives as congressional pork barrel projects.
The lawmaker emphasized the urgency of repairing and upgrading infrastructure heavily damaged by recent typhoons, citing examples like the Andaya Highway in Camarines Sur, one of the most severely affected province in last year’s series of typhoons. He noted that unresolved repairs had caused severe travel disruptions during the December holidays, which could recur if the proposed delays were implemented.
Villafuerte underscored that the infrastructure projects under scrutiny were identified through
Hence, he said, frontloading, rather than postponing, the implementation of the projects that Drilon wants to be classified for FLR or delayed funding is the way to best help the Marcos administration keep the economy on its robust, post-pandemic recovery—in support of the President’s Bagong Pilipinas vision of better lives for all Filipinos on his watch. To pump-prime the economy and create a lot more jobs and livelihood opportunities, Villafuerte said that these projects, rather than be classified for FLR or delayed funding, should be implemented right away before the ban on the release or disbursement of public funds for infrastructure projects kicks in starting March 28, or 45 days before the balloting as provided for in the Omnibus Election Code.
Meanwhile, Villafuerte recalled that Drilon himself had justified the legality of similar initiatives during the Aquino administration under the Disbursement Acceleration Program (DAP).
In a 2013 statement, Drilon had defended DAP-funded projects as being “immediately implementable to accelerate government spending and boost the economy.” Villafuerte argued that the same reasoning applies to the 2025 DPWH projects that Drilon now seeks to delay.
Editor: Angel R. Calso
Fragile Israel-Hezbollah ceasefire holding so far, despite violations
By Abby Sewell & Melanie Lidman
The Associated Press
BEIRUT—A fragile ceasefire between Israel and the Lebanese militant group
Hezbollah has held up for over a month, even as its terms seem unlikely to be met by the agreed-upon deadline.
The deal struck on November 27 to halt the war required Hezbollah to immediately lay down its arms in southern Lebanon and gave Israel 60 days to withdraw its forces there and hand over control to the Lebanese army and UN peacekeepers.
So far, Israel has withdrawn from just two of the dozens of towns it holds in southern Lebanon. And it has continued striking what it says are bases belonging to Hezbollah, which it accuses of attempting to launch rockets and move weapons before they can be confiscated and destroyed.
Hezbollah, which was severely diminished during nearly 14 months of war, has threatened to resume fighting if Israel does not fully withdraw its forces by the 60-day deadline.
Yet despite accusations from both sides about hundreds of ceasefire violations, the truce is likely to hold, analysts say. That is good news for thousands of Israeli and Lebanese families displaced by the war still waiting to return home.
“The ceasefire agreement is rather opaque and open to interpretation,” said
Firas Maksad, a senior fellow with the Middle East Institute in Washington. That flexibility, he said, may give it a better chance of holding in the face of changing circumstances, including the ouster of Syria’s longtime leader, Bashar Assad, just days after the ceasefire took effect.
With Assad gone, Hezbollah lost a vital route for smuggling weapons from Iran. While that further weakened Hezbollah’s hand, Israel had already agreed to the USbrokered ceasefire.
Hezbollah began firing rockets into Israel on October 8, 2023—the day after Hamas launched a deadly attack into Israel that ignited the ongoing war in Gaza.
Since then, Israeli air and ground assaults have killed more than 4,000 people in Lebanon, including hundreds of civilians.
At the height of the war, more than 1 million Lebanese people were displaced.
Hezbollah rockets forced some 60,000 from their homes in northern Israel, and killed 76 people in Israel, including 31 soldiers. Almost 50 Israeli soldiers were killed during operations inside Lebanon. Here’s a look at the terms of the ceasefire and its prospects for ending hostilities over the long-term.
What does the ceasefire agreement say?
The agreement says that both Hezbollah
and Israel will halt “offensive” military actions, but that they can act in self-defense, although it is not entirely clear how that term may be interpreted.
The Lebanese army is tasked with preventing Hezbollah and other militant groups from launching attacks into Israel. It is also required to dismantle Hezbollah facilities and weapons in southern Lebanon—activities that might eventually be expanded to the rest of Lebanon, although it is not explicit in the ceasefire agreement.
The United States, France, Israel, Lebanon and the UN peacekeeping force in Lebanon, known as UNIFIL, are responsible for overseeing implementation of the agreement.
“The key question is not whether the deal will hold, but what version of it will be implemented,” Maksad, the analyst, said.
Is the ceasefire being implemented?
Hezbollah has for the most part halted its rocket and drone fire into Israel, and Israel has stopped attacking Hezbollah in most areas of Lebanon. But Israel has launched regular airstrikes on what it says are militant sites in southern Lebanon and in the Bekaa Valley.
Israeli forces have so far withdrawn from two towns in southern Lebanon - Khiam and Shamaa. They remain in some 60 others, according to the International Organization for Migration, and around 160,000 Lebanese
remain displaced.
Lebanon has accused Israel of repeatedly violating the ceasefire agreement and last week submitted a complaint to the U.N. Security Council that says Israel launched some 816 “ground and air attacks” between the start of the ceasefire and December 22, 2024.
The complaint said the attacks have hindered the Lebanese army’s efforts to deploy in the south and uphold its end of the ceasefire agreement.
Israel says Hezbollah has violated the ceasefire hundreds of times and has also complained to the Security Council. It accused Hezbollah militants of moving ammunition, attempting to attack Israeli soldiers, and preparing and launching rockets towards northern Israel, among other things.
Until it hands over control of more towns to the Lebanese army, Israeli troops have been destroying Hezbollah infrastructure, including weapons warehouses and underground tunnels. Lebanese authorities say Israel has also destroyed civilian houses and infrastructure.
What happens after the ceasefire has been in place for 60 days?
Israel’s withdrawal from Lebanese towns has been slower than anticipated because of a lack of Lebanese army troops ready to take over, according to Lt. Col. Nadav Shoshani, a military spokesman. Lebanon disputes this, and says it is waiting for Israel to withdraw before entering the towns.
Shoshani said Israel is satisfied with the Lebanese army’s control of the areas it has already withdrawn from, and that while it would prefer a faster transfer of power, security is its most important objective.
Congress notified by Biden administration of planned $8 billion weapons sale to Israel
By Matthew Lee AP Diplomatic Writer
ASHINGTON—The State
WDepartment has informed Congress of a planned $8 billion weapons sale to Israel, US officials say, as the American ally presses forward with its war against Hamas in Gaza.
Some of the arms in the package could be sent through current US stocks but the majority would take a year or several years to deliver, according to two US officials Saturday who spoke on condition of anonymity because the notification to Congress hasn’t been formally sent.
The sale includes medium-range air-to-air missiles to help Israel defend against airborne threats, 155 mm projectile artillery shells for long-range targeting, Hellfire AGM-114 missiles, 500-pound bombs and more.
The weapons package would add to a record of at least $17.9 billion in military aid that the US has provided Israel since the Hamas attacks on Oct. 7, 2023, launched the war.
The Biden administration has faced criticism over mounting deaths of Palestinian civilians. There have been demonstrations on college campuses and unsuccessful efforts in Congress by Sen. Bernie Sanders, I-Vt., and some Democrats to block sales of offensive weapons to Israel.
The United States paused a shipment of 2,000-pound bombs to Israel in May over concerns about civilian casualties if the bombs were to be used during an assault on the southern Gaza city of Rafah. The Biden administration has demanded that Israel increase humanitarian aid into the enclave. But in November, citing some limited progress, it declined to limit arms transfers as it threatened to do if the situation did not improve. In recent days, Israel has been conducting airstrikes in Gaza that have killed dozens of people, adding to the tens of thousands of deaths since the war began more than a year ago. The Israeli army said Friday that it had struck dozens of Hamas gathering points and command centers throughout Gaza. Israel’s military says it only targets militants and blames Hamas for civilian deaths because its fighters operate in dense residential areas. The war has caused widespread destruction and displaced about 90% of Gaza’s population of 2.3 million, many of them multiple times. Winter has now arrived, and hundreds of thousands are sheltering in tents near the sea. The informal notice to Congress isn’t the final notification before a sale. Now the leaders of the House Foreign Affairs Committee or the Senate Foreign Relations Committee can review the package.
Myanmar military govt frees over 6,000 prisoners in Independence Day amnesty
BANGKOK—Myanmar’s military government has released more than 6,000 prisoners and has reduced other inmates’ sentences as part of a mass amnesty marking the 77th anniversary of independence from Britain on Saturday.
They included just a small proportion of hundreds of political d etainees jailed for opposing army rule since the military seized power in February 2021 from the elected government of Aung San Suu Kyi. That takeover was met with massive nonviolent resistance, which has since become a widespread armed struggle.
State-run MRTV television reported that Senior Gen. Min Aung H laing, the head of the military government, granted amnesties covering 5,864 prisoners from Myanmar, as well as 180 foreigners who will be deported. Mass prisoner releases are common on holidays a nd other significant occasions in Myanmar.
The terms of release warn that if the freed detainees violate the law again, they will have to serve the remainder of their original sentences in a ddition to any new sentence.
In a separate report, it said Min Aung Hlaing had commuted the life sentences of 144 prisoners to 15 years’ imprisonment. The report provided no details about them.
T he report also said that all other prisoners will have their sentences reduced by one sixth, except those convicted under the Explosive Substances Act, the Unlawful Asso -
ciations Act, the Arms Act and the Counterterrorism Law, all laws which are often used against opponents of military rule.
Maj. Gen. Zaw Min Tun, the spokesperson for the military government, said in an audio note to j ournalists that those being released included about 600 prisoners w ho were prosecuted under Section 505(A) of Myanmar’s penal code, which makes it a crime to spread comments that create public unrest or fear or spread false news.
He said Khet Aung, a former chief minister of the southern Kachin state, was among those freed. Khet Aung was arrested soon after the army takeover and was sentenced in April 2022 to 12 years in prison on corruption charges.
Zaw Min Tun also said most of the freed foreigners are Thais who were arrested for gambling in the border town of Tachileik in eastern Myanmar. He said Indonesians who were a rrested for fishing in Myanmar’s territorial waters were also among those freed.
He did not mention whether four Thai fishermen, who were arrested by Myanmar’s navy in late November after patrol boats opened fire on T hai fishing vessels in waters close to their maritime border in the Anda -
man Sea, were among the released. T hailand’s prime minister had said she expects the four to be released on Independence Day.
Prisoner releases began on Saturday but can take a few days to be c ompleted. In the country’s largest city, Yangon, buses took prisoners out of Insein Prison, where friends and families of detainees had waited since morning for the announced releases, at around 11:30 a.m.
T here was no sign that the prisoner release would include Aung San Suu Kyi, who has been held virtually incommunicado by the military since its seizure of power.
The 79-year-old Suu Kyi is serving a 27-year sentence after being convicted in a series of politically tinged prosecutions brought by the military.
Her supporters and independent analysts say the cases against her are an attempt to discredit her and legiti -
mize the military’s seizure of power w hile keeping her from taking part in the military’s promised election, for which no date has yet been set.
According to the Assistance Association for Political Prisoners, a r ights monitoring organization, 28,096 people have been arrested on political charges since the army takeover.
Of those arrested, 21,499 were still in detention as of Friday, the AAPP reported. At least 6,106 civilians have been killed by security f orces in the same period, the group says. Its tally does not include all casualties from combat.
Myanmar became a British colony in the late 19th century and regained its independence on Jan. 4, 1948.
In the capital Naypyitaw, Myanmar’s military government celebrated the anniversary with a flag-raising c eremony at City Hall. AP
South Koreans rally for ousted president’s arrest amid standoff
SBy Kim Tong-Hyung
The Associated Press
EOUL, South Korea—Hundreds of South Koreans, bundled up against freezing temperatures and snow, rallied overnight into Sunday near the residence of impeached President Yoon Suk Yeol, calling for his ouster and arrest, as authorities prepared to renew their efforts to detain him over his short-lived martial law decree.
Dozens of anti-corruption agency investigators and police attempted to execute a detainment warrant against Yoon on Friday but retreated from his residence in Seoul after a tense standoff with the presidential security service that lasted more than five hours. The one-week warrant for his detention is valid through Monday. There were no immediate indications that anti-corruption authorities were ready to send investigators back to the residence as of Sunday afternoon. Staff from the presidential security service were seen installing barbed wire near the gate and along the hills leading up to Yoon’s residence over the weekend, possibly in preparation for another detention attempt.
A Seoul court last Tuesday issued a warrant to detain Yoon and a separate warrant to search his residence after the embattled president repeatedly defied authorities by refusing to appear for questioning and obstructing searches of his office. But enforcing them is complicated as long as Yoon remains in his official residence.
Investigators from the country’s anticorruption agency are weighing charges of rebellion after the conservative president, apparently frustrated that his policies were blocked by a legislature dominated by the liberal opposition, declared martial law on December 3 and dispatched troops to surround the National Asembly.
The Assembly overturned the declaration within hours in a unanimous vote and impeached Yoon on December 14, accusing him of rebellion, while South Korean anti-corruption authorities and public prosecutors opened separate investigations into the events.
If the anti-corruption agency manages to detain Yoon, it will likely ask a court for permission to make a formal arrest. Otherwise, Yoon will be released after 48 hours.
The Corruption Investigation Office for High-Ranking Officials, which is leading a joint investigation with police and military investigators, says detaining Yoon would be “virtually impossible” as long as he is protected by the presidential security service. The agency has urged the country’s acting leader, Deputy Prime Minister Choi Sang-mok, to instruct the service to comply with their execution of the detainment warrant, but Choi has yet to publicly comment on the issue. The chiefs and deputy chiefs of the presidential security service defied summonses on Saturday from police, who planned to question them over the suspected obstruction of official duty following Friday’s events.
Yoon’s legal team said it will file complaints against the anti-corruption agency’s chief prosecutor, Oh Dong-woon, and approximately 150 investigators and police officers involved in Friday’s detention attempt, which they claim was unlawful. The team said it will also file complaints with public prosecutors against the country’s acting defense minister and police chief for ignoring the presidential security service’s request to provide additional forces to block the detention attempt.
Yoon’s lawyers had submitted an objection to the warrants against the president on Thursday, but the Seoul Western District Court dismissed the challenge on Sunday. Park Chan-dae, floor leader of the main
opposition Democratic Party, called for the anti-corruption agency to move quickly to detain Yoon, saying it was deeply disappointing to see the agency “hesitating and letting time slip away.”
Hundreds of anti-Yoon protesters rallied for hours near the gates of the presidential residence from Saturday evening to Sunday, voicing frustration over the failed detention attempt and demanding stronger efforts to bring Yoon into custody. Separated by police barricades and buses, pro-Yoon protesters were gathering in nearby streets, denouncing his impeachment and vowing to block any efforts to detain him.
“With barely a day left before the execution deadline for Yoon Seok Yeol’s detainment warrant, the presidential security service continues to hide a criminal and the Corruption Investigation Office for High-Ranking Officials cannot be more relaxed,” Kim Eunjeong, an activist, said on a stage during the anti-Yoon rally.
“Angry citizens have already spent two freezing nights demanding his immediate detainment. Are their voices not being heard?”
Yoon’s lawyers have challenged the detention and search warrants against the president, saying they cannot be enforced at his residence due to a law that protects locations potentially linked to military secrets from search without the consent of the per-
Pope Francis says bullying at school prepares students for war, not peace
Vson in charge—which would be Yoon. They also argue the anti-corruption office lacks the legal authority to investigate rebellion charges and that police officers don’t have the legal authority to assist in detaining Yoon.
While the presidential security act mandates protection for Yoon, it does not authorize the presidential security service to block court-ordered detainments. The service’s attempts to block the execution of the warrant may amount to an obstruction of official duty, according to Park Sung-bae, an attorney specializing in criminal law. While the president mostly has immunity from prosecution while in office, the protection does not extend to allegations of rebellion or treason.
The agency said its outnumbered investigators had several scuffles with presidential security forces that threatened their safety and expressed “serious regret” that Yoon was not complying with the legal process.
After getting around a military unit guarding the residence’s grounds, the agency’s investigators and police were able to approach within 200 meters (yards) of Yoon’s residential building but were stopped by a barricade comprising around 10 vehicles and approximately 200 members of the presidential security forces and troops. The agency said it wasn’t able to visually confirm whether Yoon was inside the residence.
The Defense Ministry says the troops at Yoon’s official residence are under the control of the presidential security service. Kim Seonho, the acting defense minister, conveyed his concern to the presidential security service, saying that deploying military personnel to block the execution of the detention warrant would be “inappropriate” and requesting that the troops aren’t placed in a position where they might confront police, according to the ministry.
Yoon’s defense minister, police chief and several top military commanders have already been arrested over their roles in the period of martial law.
Yoon’s presidential powers have been suspended since the National Assembly voted to impeach him on December 14. Yoon’s fate now lies with the Constitutional Court, which has begun deliberations on whether to uphold the impeachment and formally remove Yoon from office or reinstate him.
Biden’s decision to block Japanese takeover of US Steel creates uncertainty for workers
By Paul Wiseman & Marc Levy The Associated Press
WASHINGTON—By blocking a Japanese company’s takeover of US Steel, President Joe Biden said he was protecting good jobs in the American heartland. He may be putting them at risk instead.
In making its nearly $15 billion bid for the storied Pittsburgh-based steelmaker, Nippon Steel had promised to invest $2.7 billion in US Steel’s aging blast furnace operations in Gary, Indiana, and Pennsylvania’s Mon Valley. It also vowed not to reduce production capacity in the United States over the next decade without first getting US government approval.
“They were going to invest in the Valley,’’ said Jason Zugai, an operating technician and vice president of the United Steelworkers union local at a US Steel plant in the Mon Valley. “They committed to 10 years of no layoffs. We won’t have those commitments from anybody.’’
Zugai and some other Mon Valley steelworkers supported the Nippon deal in defiance of the union’s national leadership, which pressured the Biden administration to kill it.
Losing the Nippon-US Steel deal “will be a disaster for Pennsylvania,’’ said Gordon Johnson, who follows US Steel stock on Wall Street as founder of GLJ Research. “I really don’t understand. This is not in the interest of the workers. It’s not in the interest of the shareholders of US Steel.’’
On Friday, Biden said he was stopping the Nippon takeover — after federal regulators deadlocked on whether to approve it — because “a strong domestically owned and operated steel industry represents an essential national security priority. ... Without domestic steel production and domestic steel workers, our nation is less strong and less secure.’’ US Steel stock dropped 6.5 percent on the news Friday.
The decision, announced less than three weeks before the president leaves the White House, reflects a growing bipartisan shift away from free trade and open investment.
President-elect Donald Trump had already come out against the Nippon takeover. “As President,” he wrote last month on his Truth Social platform, “I will block this deal from happening. Buyer Beware!!!”
In a joint statement, Nippon and US Steel called Biden’s decision “a clear violation of due process and the law’’ and suggested they would sue to salvage their deal: “We are left with no choice but to take all appropriate action to protect our legal rights.’’ US Steel was founded in 1901 in a merger that involved American business titans J.P. Morgan and Andrew Carnegie and instantly created the largest company in the world. As the US grew to world dominance in the 20th century, US Steel grew with it. In 1943, at the height of the World War II manufacturing
boom, US Steel employed 340,000 people. But foreign competition—from Japan in the 1970s and ‘80s and later from China— gradually eroded US Steel’s position and forced it to close plants and lay off workers. The company now employs fewer than 22,000 in an industry dominated by the Chinese. The US government has sought over the years to protect US Steel and
a strong and resilient company,’’ he told reporters. But US Steel has said it needs the cash from Nippon Steel to keep investing in blast furnaces like the ones in Pennsylvania and Indiana.
“Without the Nippon Steel transaction, US Steel will largely pivot away from its blast furnace facilities, putting thousands of good-paying union jobs at risk, negatively impacting numerous communities across the locations where its facilities exist,’’ US Steel warned in September. The company also threatened to move its headquarters out of Pittsburgh. On its own, US Steel seems poised to focus on newer electric arc furnaces, such as its Big River plant in Arkansas, which can make
“I don’t know if they don’t have the will, but they seem to have seen that it’s a much better investment, a much better rate of return if they look to invest in an electric arc furnace rather than a blast furnace,” Spoores said. He noted that no steelmaker has built
Family members wait to welcome released prisoners from insein Prison on Saturday, January 4, 2025, in
ngon,
Jimmy Carter’s funeral begins by tracing 100 years from rural Georgia to the world stage
By Bill Barrow, Jeff Amy & Kate Payne
The Associated Press
ATLANTA—Jimmy Carter ‘s extended public farewell began Saturday in Georgia, with the 39th US president’s flag-draped casket tracing his long arc from the Depression-era South and family farming business to the pinnacle of American political power and decades as a global humanitarian.
Those chapters shone throughout the opening stanza of a six-day state funeral intended to blend personalized memorials with the ceremonial pomp afforded to former presidents. The longest-lived US executive, Carter died on December 29 at the age of 100.
“He was an amazing man. He was held up and propped up and soothed by an amazing woman,” son James Earl
“Chip” Carter III, told mourners at The Carter Center late Saturday afternoon, referring also to his mother, former first lady Rosalynn Carter, who died in 2023.
“The two of them together changed the world. And it was an amazing thing to watch so close.”
Grandson Jason Carter, who now chairs the center’s governing board, said, “It’s amazing what you can cram into a hundred years.”
Carter’s children, grandchildren and great-grandchildren accompanied their patriarch as his hearse rode first Saturday through his hometown of Plains, which at about 700 residents is not much bigger than when Carter was born there October
1, 1924. The procession stopped at the farm where the future president toiled alongside the Black sharecroppers who worked for his father. The motorcade continued to Atlanta, stopping in front of the Georgia Capitol where Carter served as a state senator and reformist governor. Finally, he arrived for his last visit to the Carter Presidential Center, which houses his presidential library and The Carter Center where he based his postWhite House advocacy for public health, democracy and human rights, setting a new standard for what former presidents can accomplish after they yield power.
“His spirit fills this place,” Jason Carter told the assembly that included some of the center’s 3,000 employees worldwide. “You continue the vibrant living legacy of what is my grandfather’s life work,” he added.
Pallbearers on Saturday came from the Secret Service that protected the Carters for almost a half-century and a military honor guard that included Navy servicemembers for the only US Naval Academy graduate to reach the Oval
Office. A military band played “Hail to the Chief” and the hymn “Be Thou My Vision” for the commander in chief who also was a devout Baptist.
His longtime personal pastor, the Rev. Tony l o wden, remembered not a president but the frail man who spent the last 22 months in hospice care, “wrapped in a blanket” that included the words of Psalm 23.
Chip Carter recalled “the boss” he had to make an appointment to see in the Oval Office, but also the father who spent an entire Christmas break learning l at in and teaching his 8th-grade son who had failed a test. When he took that test again, the younger Carter said, he aced it: “I owed it to my father, who spent that kind of time with me.”
Jimmy Carter will lie in repose at the Carter Presidential Center from 7 p.m. Saturday through 6 a.m. Tuesday, with the public able to pay respects around the clock.
Scott ly le, an engineer who grew up in Georgia but now lives in New York, was among the first mourners to pay his respects. ly le said he joined Carter to build homes with Habitat for Humanity for the first time in l a Grange, Georgia, in 2003. Since then, he has traveled around the world to build houses with the group.
“I got to see, what some people don’t get to see, close. He was an amazing man, and he cared about others. He walked the walk,” said ly le, who was wearing Carter-themed Habitat gear. “And I can’t think of anyone else that I would want to stand in line to pay my respects for.”
National rites will continue in Washington and conclude Thursday with a funeral at Washington National Cathedral, followed by a return to Plains. There, the former president will be buried next to his wife of 77 years near the home they built before his first state Senate cam -
US surgeon general urges cancer warnings on alcoholic drinks amid rising concerns
By Anna Edney & Deena Shanker
Al C OHO l I C d rinks like beer and wine should carry warnings of their links to cancer, the US’s top doctor said, citing a lack of public awareness of the popular products’ health risks.
E vidence of links between drinking and cancer has been rising for decades, yet less than half of Americans recognize that it raises their chances of developing several cancers, Surgeon General Vivek Murthy said Friday in an advisory.
A lcohol causes about 100,000 cases of cancer and 20,000 related deaths each year in the US, Murthy said, far more than the 13,500 alcohol-associated annual traffic fatalities. Adding a cancer warning would highlight severe health concerns for products that more than 70 percent of US adults consume at least once a week, with some $260 billion in 2022 nationwide sales. S hares of drinks makers declined after the announcement. Anheuser-Busch InBev NV, the maker of Budweiser beer, closed down 2.8 percent in Brussels. Constellation Brands Inc. fell 0.3 percent at the close of New York trading and Molson Coors Beverage Co. dipped 3.4 percent.
Studies have linked cancer to alcohol since the 1980s, and it ranks behind only tobacco and obesity among preventable causes of the disease. Direct connections have been shown between alcohol and at least seven types of cancer, including those of the breast, throat, mouth, esophagus, voice box, colon and liver, according to the surgeon general’s bulletin.
G uidelines for use should be reassessed to account for those risks, and doctors should highlight alcohol’s danger when advising patients about drinking, the announcement said.
The American Medical Association has said for years that “alcohol consumption at any level, not just heavy alcohol use or addictive alcohol use, is a modifiable risk factor for cancer,” AMA President Bruce Scott said in a statement. The advisory
and label update “will bolster awareness, improve health, and save lives,” the association said.
The issue is a global one, with about 741,300 cases of cancer attributable to alcohol consumption worldwide in 2020.
Yet in a 2019 survey, just 45% of Americans were aware of the risk posed by alcohol, compared with about 90% awareness for radiation exposure and tobacco each, according to the Surgeon General’s advisory.
Other warnings
O F t he 47 World Health Organization member countries with warning labels on alcohol, only South Korea’s cites cancer. Ireland will require a cancer caution starting in 2026.
In 2020, consumer advocacy and medical groups petitioned the US Treasury Department’s Alcohol and Tobacco Tax and Trade Bureau, which regulates alcohol labeling, to change the warning label on alcohol. Currently, bottles and cans state that alcohol “may cause health problems” with a warning against consumption by pregnant women.
The Treasury unit would have to work with the surgeon general to report to Congress on the need for any updates, according to the Center for Science in the Public Interest, one of the groups that filed the petition. The Treasury Department didn’t immediately respond to a request for comment.
K enneth Shea, a Bloomberg Intelligence analyst, said the surgeon general’s evidence for the label update wasn’t particularly compelling. It’s probably less of a threat near term than the market would suggest right now,” Shea said.
Debate persists
T HE d ebate around alcohol consumption and health is far from settled. Government advisers at the National Academies of Sciences, Engineering, and Medicine released a report last month on numerous alcohol studies that found both positive and nega -
tive health effects.
People who never drink alcohol are more likely to die from any cause—not just cancer or heart disease—than those who drink moderately, according to the advisers’ report. Moderate drinking may also lower the risk of death from heart disease, it said.
T he report did find that women who drink moderately are at higher risk for breast cancer than nondrinkers, and increasing alcohol consumption was linked to higher colorectal cancer risk. The authors couldn’t draw conclusions on the risks of other cancers related to moderate drinking and said more study on alcohol and health is needed overall.
Dietary guidelines
T H E Department of Agriculture and the Department of Health and Human Services have said they will take the National Academies report into consideration as they draft new dietary guidelines for 2025-2030. Spirit and beer companies with high US exposure, such as Diageo (35%-plus of revenue), Remy Cointreau (25%) and AB InBev (22%) may see sales decline if cancer-warning labels become mandatory in the US, in line with the Surgeon General’s recommendations. Alcohol premium-sales strategies might help them offset the volume decline, though that would likely take time—two years in tobacco’s case,” said Duncan Fox, Bloomberg Intelligence consumer-goods analyst.
While drinking alcohol has long been a social norm for American adults, sobriety has also gained popularity in recent years. In 2020, Anheuser-Busch InBev released Budweiser Zero; last year, Molson Coors released its non-alcoholic brand Naked l i fe in the US. Craft breweries like Sierra Nevada and Boston Beer Co. also offer alcohol-free products. Younger Americans are even more likely than older ones to try to cut back on drinking, a January 2024 survey from NCSolutions found. With assistance from Angelina Rascouet, Dasha Afanasieva and Andy Hoffman / Bloomberg
paign in 1962.
The Carters lived nearly all their lives in Plains, with the exception of his Naval service, four years in the Governor’s Mansion and four years in the White House. As his hearse rolled through the town, mourners lined the main street, some holding bouquets of flowers and wearing pins bearing images of the former president and his signature smile.
Willie Browner, 75, described Carter as hailing from a bygone era of American politics.
“This man, he thought of more than just himself,” said Browner, who grew up in the town of Parrott, about 15 miles (24 kilometers) from Plains. Browner said it meant “a great deal” to have a president come from a small Southern town like his—something he worries isn’t likely to happen again. Indeed, Carter helped plan his own funeral to emphasize that his remarkable rise to the world stage was because of—not despite— his deep rural roots. Over the course of a
the motorcade passed near where the Carters ran the family peanut warehouse, and the small home where his mother, a nurse, had delivered the future first lady in 1927. The hearse passed the old train depot that served as Carter’s 1976 presidential campaign headquarters— a barebones effort that depended on public financing, dwarfed by the billion-dollar US presidential campaigns of the 21st
Honduras president threatens to end military ties with US amid Trump’s deportation threats
By Marlon González The Associated Press
TEGUCIGALPA, Honduras—
Honduras President Xiomara Castro ‘s comments earlier this week threatening to stop her country’s cooperation with the US military if President-elect Donald Trump follows through on promised mass deportations have generated political heat at home, even as the US government has remained silent.
In a New Year’s Day speech on a national television channel, Castro said that if Trump goes ahead with massive deportations, Honduras would reconsider military cooperation with the US. Faced with a hostile attitude of mass expulsion of our brothers, we would have to consider a change of our cooperation policies with the United States, especially in the military realm,” Castro said.
S he said the US had maintained a presence in Honduran territory for decades without paying a cent and if Hondurans are expelled en masse, that presence would cease to have any reason to exist in Honduras. She added that she hoped the Trump administration would be open to dialogue. It was just the latest response in the region to early pronouncements from Trump.
His threat to impose tariffs on Mexico if it didn’t do more to stop illegal migration and drug trafficking w as met with a suggestion of retaliatory tariffs from that government. M ore recently Trump criticized charges to transit the Panama Canal
and suggested the US could take it back, something Panama’s president emphatically rejected. The main US military presence in Honduras is at Soto Cano A ir Base outside the capital.
While it is a Honduran base, the
US has maintained a significant presence there since 1983 and it has become a key US launching point for humanitarian and a nti-drug missions in Central America. It is home to Joint Task Force
Bravo, which the US Defense Department has described as a “temporary but indefinite” presence.
The US Defense Department declined to comment, noting that it “pertains to campaign statements and not policy.” US Embassy in Honduras did not immediately respond to requests for comment.
Castro’s political opposition, however, has been quick to denounce the president’s comments.
J orge Cálix, a probable presidential aspirant for the Liberal P arty in Honduras’ Nov. 30 elections, said Castro had put Honduras “in grave danger” for personal and ideological reasons.
Ol ban Valladares, a political analyst contemplating his own run for office for the Innovation and Unity Party, panned C astro’s threat.
“She knows we don’t have the ability to threaten the United States in any way, that the damages it would cause Honduras wo uld be terrible,” Valladares said. He said the threat could make Honduran migrants even more of a target for the Trump administration.
Zelenskyy calls for boost in air defenses amid Trump’s pledge to end war quickly
By Volodymr Yurchuk & Elise Morton
KThe Associated Press
YIV, Ukraine—Ukraine’s President Volodymyr Zelenskyy said he will again call on allies to boost its air defenses at this week’s meeting in Germany, as US President-elect Donald Trump takes over later this month with a vow to end the almost three-year war quickly. Zelenskyy said that dozens of partner countries will participate in the meeting of the Ramstein group at Ramstein Air Base in Germany on Thursday, “including those who can help boost our capabilities not only to defend against missiles but also against guided bombs and Russian aviation.”
“We will discuss this with them and continue to persuade them,” Zelenskyy said in his nightly address on Saturday. “The task remains unchanged: strengthening our air defense.” US Defense Secretary Lloyd J. Austin will attend the meeting. Biden was originally scheduled to attend the October summit in Ramstein but it was postponed because of response to Hurricane Milton that bat-
tered the US.
In its last few weeks in office, the Biden administration was pressing to send as much military aid as possible to Ukraine before Trump is sworn in January 20.
Trump claimed during his election campaign that he could end the war in one day and his comments have put a question mark over whether the United States will continue to be Ukraine’s biggest—and most important—military backer.
Zelenskyy said last week that Trump is “strong and unpredictable,” and those qualities can be a decisive factor in his policy approach to Russia’s invasion of Ukraine.
Russia controls about one-fifth of Ukraine, and capitalized last year on weaknesses in Ukraine’s defenses to slowly advance in eastern areas despite high losses of troops and equipment. The war’s trajectory isn’t in Ukraine’s favor. The country is shorthanded on the front line and needs continued support from its Western partners.
Zelenskyy said Saturday that Russian and North Korean troops had suffered heavy losses in the fighting in Russia’s Kursk region.
“In battles yesterday and today near
just one village, Makhnovka, in the Kursk region, the Russian army lost up to a battalion of North Korean infantry soldiers and Russian paratroopers,” Zelenskyy said.
“This is significant.”
Zelenskyy said last month that 3,000 North Korean troops had been killed and wounded in Kursk, where Ukrainian forces launched an incursion in August, dealing a blow to Russia’s prestige and forcing it to deploy some of its troops from a slowmoving offensive in eastern Ukraine.
The incursion didn’t significantly change the dynamic of the war, and military analysts say Ukraine has lost around 40 percent of the land it initially captured.
In other developments, nine people were wounded in a Russian guided bomb attack on the border town of Semenivka in Ukraine’s northern Chernihiv region on Saturday evening, local officials said. Moscow sent 103 drones into Ukraine overnight into Sunday January 6 A8-2 Ukraine, Ukrainian officials said. According to Ukraine’s air force, 61 drones were destroyed and 42 were lost likely due to electronic jamming. Morton reported from London.
Venezuela opposition leader recognized by US as election victor embarks on international tour
BUENOS AIRES, Argentina—Venezuelan opposition leader Edmundo González, who the United States recognized as the winner of last year’s presidential election, kicked off an international tour on Saturday that will take him to Washington just days before President Nicolás Maduro is set to be sworn in for a third term in defiance of international pressure.
A crowd of a few hundred Venezuelan migrants broke into shouts of “Edmundo, Presidente” as González emerged from a meeting with Argentine President Javier Milei to wave to supporters from the balcony of the iconic Casa Rosada, or Pink House, in Buenos Aires.
“We are doing whatever the cause of freedom requires,” Milei, an effusive farright supporter of the Venezuelan opposition, said as he welcomed González to the presidential
in
an
in September
warrant following the July 28 presidential election, in which Maduro was declared the winner by the National Electoral Council, which is stacked with governing party loyalists. In recent weeks, he has been vowing to travel to Venezuela to be sworn in for the presidential term, which according to law must begin on Jan. 10. But he hasn’t said how he plans to return or wrest power from Maduro, whose party controls all institutions and the military.
“By whatever means necessary, I’m going to be there” on Jan. 10, González said. On
Rice from Vietnam, Thailand costlier in 2024
VBy Ada Pelonia @adapelonia
ietnamese rice prices rose in 2024, with the average annual quotation of the 5 percent broken variety increasing to over $550 per metric ton (mt), according to the World Bank.
Figures from the World Bank showed that the average price of Vietnam’s 5 percent broken rice grew by 6.45 percent to $557.5 per MT last year from $523.7 per MT in 2023.
Thailand rice prices also registered an uptick, with the 5 percent broken rice variety rising by 6.27 percent to $588.4 per MT in 2024 from $553.7 per MT in the previous year.
4.6 MMT as of December 26, latest government data showed.
World Bank figures also indicated that the average quotation of corn, another important grain for the Philippines, plunged by nearly a quarter or 24.57 percent to $190.6 per MT in 2024 from $252.7 per MT in the previous year.
In a report last October 2024, the institution said prices of staple crops like corn “trended lower overall” last year, owing to “solid harvests and favorable growing conditions.”
The average quotation of cocoa also skyrocketed by 123.48 percent to $7.33 per kilo last year from $3.28 per kilo in 2023.
In the same report, the World Bank noted that weather- and disease-related shocks and trade restrictions caused prices for cocoa, coffee, and rice to reach “historic highs” last year.
It added that this underscored “sources of supply volatility that could prove endemic to an era of climate change and trade fragmentation.”
Vietnam and Thailand are the Philippines’ two largest suppliers of imported rice, with shipments from both countries accounting for over 4 million metric tons (MMT), based on data from the Bureau of Plant Industry.
The Philippines’ rice import arrivals have reached a record-high
The average quotation of the 25 percent broken variety also inched up by 4.92 percent to $559.1 per MT last year from $532.9 per MT in 2023.
Meanwhile, data from the World Bank also indicated that the average prices of coffee varieties like arabica and robusta recorded growths.
Arabica prices jumped by 23.79 percent to $5.62 per kilo last year from $4.54 per kilo in 2023, while the average quotation for the robusta variety surged by 67.68 percent to $4.41 per kilo in 2024 from $2.63 in the previous year.
The average price of coconut oil, the top farm export of the Philippines, surged by 41.30 percent to $1,519 per MT in 2024 from $1,075 per MT in the previous year.
Preliminary data from the Philippine Statistics Authority (PSA) showed that coconut oil exports posted a 68.1-percent growth rate in the January to October 2024 period, reaching $1.68 billion.
Average nickel price fell below $20,000/MT last year
The average price of nickel plunged in 2024, with the annual quotation slipping below $20,000 per metric ton (MT), according to the World Bank.
Data from the World Bank showed that the average annual prices of nickel slumped by 21.87 percent to $16,814 per MT last year from $21,521 per MT in 2023.
In a report last October 2024, the World Bank said global nickel output rose rapidly despite the suspension of operations at several mines outside Indonesia following the sustained decline in prices. It noted that nickel prices have fallen by about 30 percent since 2022. Despite this, it stated that international demand for nickel is expected to increase steadily in the coming years, supported by the production of stainless steel and batteries for electric vehicles ( e Vs).
increasing their output.
“Following an expected 21 percent plunge in 2024 (y/y), nickel prices are forecast to rebound by 3 percent in 2025 and 6 percent in 2026,” the World Bank said. The World Integrated Trade Solution (WITS) said the Philippines was the top exporter of nickel ores and concentrates in 2023, with Zimbabwe and United States trailing behind. In 2023, the Philippine Nickel Industry Association (PNIA), said the country’s more than 30 nickel companies are capable of
The group noted that nickel produce in the Philippines are able to adjust to the fluctuating price of nickel in the world market, primarily on account of demand dictated by China and the nickel export policy of Indonesia, which is the world’s biggest nickel producer as well as the challenges posed by inclement weather and climate-change triggered events.
Meanwhile, World Bank figures showed that the average quotation of iron ore declined by 9.29 percent to $109.4 per dry MT last year from $120.6 per dry MT in 2023.
It also said that average prices of lead dipped by 3.14 percent to $2,069 per MT in 2024 from $2,136
per MT in the previous year.
Despite this, the international institution registered increases in the average quotation of copper which rose by 7.68 percent to $9,142 per MT last year from $8,490 per MT in 2023.
Furthermore, average price of aluminum also grew by 7.23 percent to $2,419 per MT in 2024 from $2,256 per MT in the previous year.
The average quotation of tin jumped by 15.91 percent to $30,066 per MT in 2024 from $25,938 per MT in the previous year.
The World Bank said average prices of zinc also inched up by 4.64 percent to $2,776 per MT last year from $2,653 in 2023. Ada Pelonia
Bezos-backed farm startup in talks for more than 90% value cut
PL e N T y Unlimited Inc., a pioneer of vertical farming that’s drawn backing from billionaires including Jeff Bezos, is in talks for a new funding round that will virtually wipe out existing stockholders, according to a person familiar with the matter.
Plenty, which has brought in almost $1 billion from investors like e r ic Schmidt and SoftBank Group Corp., is in talks to raise another $125 million as part of the recapitalization, according to people familiar with the matter. The new deal would value the company’s existing shares at less than $15 million, one person said. Previously, investors had valued Plenty at $1.9 billion, according to PitchBook.
The company declined to comment on the deal.
In recent weeks, Plenty has installed an interim chief executive officer after the exit of Arama Kukutai, said one of the people, who asked not to be identified discussing private information. The new acting C e O is Daniel Malech, previously the company’s senior vice president of strategy and general counsel. At the same time, the company is undergoing a broader strategy shift. Instead of growing a variety of fruits and vegetables, Plenty will focus on strawberries, which yield higher profits.
Meat products more expensive in 2024–FAO report
Pr I C e S of meat products were higher last year as production could not keep with robust demand from key meatimporting countries, according to the Food and Agriculture Organization of the United Nations (FAO).
FAO said its Meat Price Index averaged 117.2 points in 2024, up 3.1 points or 2.7 percent from 2023.
Plenty’s shifting strategy reflects larger struggles for the oncepromising indoor farming industry.
The news comes just months after Bowery Farming, previously valued at $2.3 billion, halted operations, according to reports. Before that, companies including AeroFarms, Kalera and Apph a rvest all filed for bankruptcy.
Plenty has been a leader in the indoor farming world, which aims to use less land and water to grow food while avoiding the impacts of climate-induced extreme weather. Founded a decade ago, it has attracted a star-studded list of billionaire backers as well as investments from corporations like Driscoll’s Inc. In 2022, Plenty raised $400 million in a Series e funding round, according to financial data provider
Kukutai and Malech did not respond to requests for comment. New york investment firm One Madison Group is expected to lead the new financing. SoftBank’s Vision Fund, a longtime Plenty investor that’s funneled over $400 million into the company, is also in talks to participate, said the people, as is Walmart Inc. The financing is not yet completed and could still fall apart, they added. SoftBank and Walmart declined to comment. One Madison Group did not respond to requests for comment.
PitchBook. The same year, Plenty said it would build the world’s largest indoor farming facility—a series of towers across a 120-acre campus in Virginia, with robotic-assisted harvesting. The $300 million facility was designed to grow multiple crops, including leafy greens and tomatoes, the company said.
But last year, Plenty tried to raise a new funding round that failed to come together, according to one of the people.
Now, Plenty is shifting its focus to growing exclusively strawberries, which can be sold at high prices yearround. In December, it also said it would shutter its leafy vegetable factory in Compton, California, citing the rising costs of doing business in the state. “Closing this chapter was not a decision we made lightly, but it was a necessary step as we shift our focus to strawberries,” the company said in a LinkedIn post.
Plenty has also partnered with a unit of United Arab em irates’ Alpha Dhabi holding PJSC to develop Abu
Dhabi’s first indoor vertical farm at a cost of over 500 million dirhams ($136 million). The farm will aim to produce more than 2 million kilograms of strawberries annually from 2026.
Scorching heat
Me A NW h I L e, Australian authorities have issued extreme heat warnings for southeastern and western parts of the country, saying the thermostat in Melbourne is forecast to reach 38C (100.4F) on Sunday.
Temperatures are “set to reach the high 30s, if not low 40s, across much of inland New South Wales, much of inland Victoria and South Australia as well,” the Bureau of Meteorology’s Miriam Bradbury told ABC Television on Saturday.
The warnings are for districts in the states of New South Wales, Victoria, Western Australia and Tasmania. Temperatures may reach as much as 14C degrees above the January average, she said.
Global warming made 2024 the hottest year globally on record, with implications for everything from agriculture to infectious diseases, and forcing individuals and businesses to rethink how they operate.
In Australia, officials have also flagged the risk of fires in parts of Victoria and South Australia, as a large bushfire continues at the scenic Grampians National Park in the state’s west. There are also moderate flood warnings for areas in New South Wales and Queensland.
r e lief in the form of cooler temperatures is due late on Sunday for South Australia, Victoria and Tasmania, Bradbury said. For Sydney and the e a st Coast, the turn is expected late on Monday or early on Tuesday. Bloomberg News
“[r o bust demand] sustained higher average prices for bovine, ovine, and poultry meats, while average pig meat prices declined, prompted by subdued import demand, particularly from China,” it said.
In December alone, FAO said the index averaged 119 points, up 0.5 points (0.4 percent) from November, marking a rebound after three months of consecutive declines.
“At this level, the index stood 7.9 points [7.1 percent] above its corresponding value a year ago. The increase was primarily driven by higher bovine meat prices, resulting from strong global demand coupled with production constraints due to routine endof-year maintenance shutdowns at processing plants in major exporting countries,” it said.
“Likewise, international ovine meat prices rose, underpinned by reduced slaughter availability in Australia following improved pasture conditions from recent rainfall, which encouraged higher livestock retention, combined with sustained global demand.” By contrast, FAO said pig meat prices declined, underpinned by weaker-than-expected consumer demand in the eu ropean Union ahead of the winter holidays. Meanwhile, poultry meat prices registered a slight decline due to ample export supplies from Brazil.
Also registering an increase last year was FAO’s All r i ce Price Index, which averaged 133.1 points, up 0.8 percent from 2023 and representing a 16-year nominal high.
“Indica quotations underpinned this annual increase, as strong import demand from some countries in Asia and reduced competition among exporters kept them elevated during the first nine months of 2024.”
The FAO Food Price Index, which tracks monthly changes in the international prices of a set of globally-traded food commodities, averaged 127.0 points in December, down 0.5 percent from November and up 6.7 percent from December 2023. For 2024 as a whole, the index recorded 122.0 points, 2.1 percent lower than the average value in 2023, offsetting significant decreases in quotations for cereals and sugar with smaller but not insignificant increases in prices for vegetable oils, dairy, and meats.
The FAO Cereal Price Index in December was relatively unchanged from November and 9.3 percent below its year-earlier level, as a marginal uptick in maize quotations offset a drop in those for wheat. For 2024 as a whole, the FAO Cereal Price Index averaged 113.5 points, down 13.3 percent from the 2023 level, marking a second annual decline from the 2022 record level. The FAO Vegetable Oil Price Index in December declined by 0.5 percent from November though still 33.5 percent higher than its year-earlier level. For 2024 as a whole, the FAO Vegetable Oil Price Index averaged 9.4 percent higher than in 2023 amid tightening global supplies.
Photo by No N e Reyes
The Philippines’ path to becoming an upper middle-income country
Arecent analysis by the Asean+3 Macroeconomic research Office (Amro) highlights a critical juncture for the Philippines in its pursuit of upper middle-income country (UMIc) status. to reach this goal, the country must boost its per capita Gross national Income (GnI) by 6.8 percent to $4,516. thus, it must strengthen its economic strategies to effectively navigate the challenges of post-pandemic recovery. (Read the BusinessMirror story: “Pinoys’ income must grow 6.8% to attain Umic dream,” January 2, 2025).
The current GNI per capita of $4,230 reflects the Philippines’ growth potential but also highlights the significant distance that remains before achieving UMIC status. As noted by Amro’s Principal Economist Runchana Pongsaparn, our robust GDP growth, projected to rise from 5.5 percent in 2023 to 5.8 percent in 2024, is a positive sign. However, to sustain this momentum and eventually transition to high-income country (HIC) status—requiring a staggering GNI of $14,005—strategic foresight and meticulous planning are essential.
One major challenge is tackling the pandemic’s impact on MSMEs. The economic fallout has weakened their finances, hindering growth. It would do well for the government to focus on improving financial access and fostering investment-friendly conditions for these businesses to help them prosper.
Additionally, the push for increased productivity aligns closely with the country’s goal of enhancing job quality. Upskilling the workforce is not just an operational necessity; it is a moral obligation to provide Filipinos with the tools they need to succeed in a rapidly evolving job market. As industries adapt to new technologies and global standards, a skilled workforce will be a pivotal asset in attracting foreign direct investment and fostering sustainable economic growth.
Infrastructure development, often touted as the backbone of economic progress, demands a rigorous selection process. Economic managers must identify projects that promise long-term sustainability and economic viability. Investment in infrastructure should be seen as a strategic initiative that can unlock potential and create jobs.
The road to UMIC status is fraught with external challenges as well. The looming threat of climate change necessitates a dual approach: not only must the Philippines enhance its resilience to environmental vulnerabilities, but it must also attract foreign investments aimed at sustainable development. This dual focus will ensure that growth is both robust and responsible.
While forecasts from institutions like Capital Economics project GDP growth below government targets, it is critical for policymakers to remain adaptable. The interagency Development Budget Coordination Committee’s aim to reduce the deficit-to-GDP ratio is a responsible fiscal strategy, yet it must be balanced with investments that stimulate immediate economic activity. A cautious approach to fiscal policy, while commendable, should not stifle growth by limiting government spending on vital infrastructure and social programs.
As the Philippines approaches a major economic transformation, achieving UMIC status will demand collaboration, innovation, and resilience. The government and the private sector must work collaboratively to implement strategies that not only target income growth but also ensure that this growth is inclusive and sustainable. With the right policies and a commitment to long-term planning, the dream of a prosperous, upper middle-income Philippines can become a reality.
BusinessMirror
The country’s legislative approach to AI regulation
MRISING SUN
An y countries are proactively implementing national policies and regulations to address the growing impact of artificial intelligence (AI), which is becoming increasingly significant across sectors such as education, business, and the economy.
A s the Philippines seeks to keep pace with global developments in AI technology, it is also working to formulate policies, legislation, and regulatory frameworks that promote innovation while protecting against potential risks. Several entities, including the Department of Trade and Industry, the Department of Science and Technology, the University of the Philippines, and the Department of Education, have already initiated efforts in this direction.
A key legislative initiative is House Bill 7396, introduced by Representative Robert Ace S. Barbers, known as the “Artificial Intelligence Development and Regulation Act of the Philippines.” This bill aims to
establish an “Artificial Intelligence Development Authority (AIDA)” responsible for overseeing the development and deployment of AI technologies in the country. The AIDA would be tasked with creating a regulatory framework to ensure ethical AI usage. The Philippines has also developed a National AI Strategy Roadmap designed to guide its AI development and integration approach. This strategy emphasizes enhancing local AI skills and nurturing innovation among startups and practitioners. It acknowledges that while interest in AI is high, practical implementation and training remain limited. Currently, only 30 percent of Filipino
Looking ahead to 2026, the Philippines aims to take a leading role within Asean by proposing a regional legal framework for AI. House Speaker Martin Romualdez has expressed this commitment as part of the country’s efforts not only to develop national policies but also to contribute to regional standards for AI governance. Like many others, I am also eager to see updates on this important initiative.
AI users receive adequate training for effective use. However, I have not seen the full roadmap yet, so I believe that the DTI needs to circulate it more widely. Looking ahead to 2026, the Philippines aims to take a leading role within Asean by proposing a regional legal framework for AI. House Speaker Martin Romualdez has expressed this commitment as part of the country’s efforts not only to develop national policies but also to contribute to regional standards for AI governance. Like many others, I am also eager to see updates on this important initiative.
Israelis struggle with cost-of-living squeeze as war costs rise
By Galit Altstein
MOr e taxes. Less disposable income. Higher food, water and electricity bills. As 2025 starts, Israelis face a 40-billionshekel ($11-billion) war bill that will likely deepen social and political divides.
That is this year’s estimated cost of a long list of taxation hikes and spending cuts, including a 1 percent rise in value-added tax, that has just gone into effect. Every household will feel the squeeze and it’s one of the main topics of conversation on radio and other media.
Business newspaper ‘The Marker’ created a highly popular online calculator that estimates the price tag per household.
“It will cost us more than 17,000 shekels a year,” Adi Einbinder, a working mother of three with a husband in hi-tech, said on a recent radio show. At 40 years old, she and her husband are forced to lean on their parents. “We’re supposed to be helping them right now. We feel trampled.”
814-0134 to 36. E-mail: news.businessmirror@gmail.com
In the 15 months since Hamas’ brutal attack on Israel from Gaza, triggering a multi-front conflict with Iran-backed militias, Prime Minister Benjamin Netanyahu’s government has been reshaping national security. It’s guiding motto of “Never Again”
stresses how even with a ceasefire in Lebanon and fighting in Gaza having eased from a year ago, Israel’s military spending is on a long-term upward trajectory.
The government will increase the defense budget by an estimated annual minimum of 20 billion shekels—1 percent of current gross domestic product—over a decade. The 2025 defense outlay totals 107 billion shekels, 65 percent higher than pre-war spending.
“Until now, the Israeli public hasn’t directly borne the budgetary costs of the war,” says Momi Dahan, an economics professor at Jerusalem’s Hebrew University. “They were funded by government loans. Now the government will borrow less and take the rest from the public.”
While fighting has devastated Gaza and large parts of Lebanon, Israel’s $525 billion economy has also suffered. Construction and tourism have slumped and almost all industries have experienced labor shortages with so many people being
While fighting has devastated Gaza and large parts of Lebanon, Israel’s $525 billion economy has also suffered. Construction and tourism have slumped and almost all industries have experienced labor shortages with so many people being called up for reserve duty.
called up for reserve duty. The government estimates GDP rose just 0.4 percent last year, making Israel one of the slowing-growing developed economies. There will be a rebound in 2025, but it will be limited by the austerity measures.
Analysts say the shifts will further polarize a traumatized society in which emigration of skilled workers, many of who have done long stints of military-reserve duty, is increasing.
“The difference will be between those who accept and others who feel harassed or disregarded by the government,” said Mooli Lahad, an Israeli psychologist and trauma specialist. The latter “are generally the economic backbone of the country and for some of them it may be the straw that breaks the camel’s back.”
In 2024, Israel borrowed more than 260 billion shekels in international and domestic markets, almost
In preparation for something that will occur much sooner—the upcoming elections this May—the Commission on Elections (Comelec) released guidelines last year regarding AI use in electoral campaigns. These guidelines regulate how AI-generated content can be utilized to ensure it does not undermine electoral integrity or mislead voters. This move underscores the government’s acknowledgment of AI’s potential influence on democratic processes. Other pending bills related to AI include HB 7913 (Artificial Intelligence Regulation Act), HB 7983 (Artificial Intelligence Development Act establishing the National Center for AI Research), HB 9448 (Protection of Labor Against Artificial Intelligence Automation Act), HB 10385 (AI Regulation Act establishing an AI Bureau within the DICT), HB 10460 (Protecting employees from termination or layoff due to automation by AI), and HB 10567 (Proposing fines for undisclosed deepfakes). As these initiatives progress, continuous dialogue among stakeholders will be essential to ensure that regulatory frameworks align with both technological advancements and ethical considerations.
a record for the country, to fund the war effort. Its budget deficit soared to 7.7 percent of GDP. To prevent debt from spiraling, the 2025 target deficit is set at around 4.5 percent. The increase in taxes and other fiscal measures to bolster the government’s finances will make what was already one of the advanced world’s most expensive countries even costlier. Sharon Levin, a spokeswoman for Pa’amonim, a non-profit organization that provides guidance to households, cites widespread concern over how much harder things are getting.
“Over the past weeks, the number of families approaching us has more than doubled,” she said. Many were already reeling from a rise in interest rates around two years ago, which pushed up payments on mortgages and business loans. A government attempt to weaken the judiciary in 2023 caused huge political and social turmoil that also slowed the economy.
For the next three years, income tax bands, tax benefits and some state allowances won’t be adjusted for inflation, which at 3.4 percent is above the government’s target. Public-sector salaries will be frozen. Property taxes will be upped. There’s a consensus among Israe-
Atty. Jose Ferdinand M. Rojas II
Ambassador Antonio L. Cabangon Chua
Environmental sustainability champions
AJoel L. Tan-Torres
DEBIT CREDIT
S we usher in the new year, let’s recall the active participation of the Philippines in the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR), a body under the United Nations Conference on Trade and Development, now recently rebranded to United Nations Trade and Development.
ISAR is an intergovernmental working group dedicated to assist United Nations member States to improve quality and international comparability of financial reporting and non-financial disclosure, such as environmental issues, corporate governance and corporate social responsibility. ISAR has been espousing sustainability reporting frameworks since the inception of the Sustainable Development Goals (SDG) in 2015.
Thirty four member states comprise the group that administers the ISAR, which conducts research and policy analysis on related issues. Technical assistance is also provided on capacity-building in the area based on its Accounting Development Tool.
ISAR also has the award initiative of the ISAR Honours. This recognizes policy, institutional or capacity-building initiatives that encourage and assist enterprises to publish data on their contribution to the implementation of the 2030 Agenda for the SDG and facilitates improvements in companies’ reporting on sustainability issues, including by promoting the integration of sustainability information, such as environmental, social and governance (ESG) issues, into companies’ reporting cycle.
ISAR has published reports on practical issues surrounding International Financial Reporting Standards (IFRS) implementation, including case studies of 11 countries.
ISAR allows for 34 formal members to serve three-year terms. ISAR holds annual sessions for discussions on key issues. This is normally held in the Palais des Nations in Geneva, Switzerland every November.
The Palais des Nations in Geneva, Switzerland is a historic building and the headquarters of the United Nations Office at Geneva (UNOG). It’s also one of the world’s largest conference centers, hosting over 8,000 meetings and conferences each year. The Palais des Nations was originally built for the League of Nations in 1930 and was the main headquarters of the League of Nations until 1946, when it became the home of the UNOG.
From 2016 to 2021, I was elected to represent the Philippine ISAR, for two consecutive three year terms. I believe that I am the first Filipino ever to be elected to this post. I was then the Chair of the Board of Accountancy of the Professional Regulatory Commission, and subse-
Israelis . . .
continued from A10
lis that much of the pain is necessary to keep the country safe. But there’s also criticism of the ruling coalition for avoiding some cuts that would hurt its right-wing political base. It failed to shut any of Israel’s 30plus government ministries, something it considered but abandoned because coalition members refused to part office, and insisted on keeping several billions worth of political handouts that support government voters. It scrapped plans to impose levies on sugary drinks, fearing a backlash in government-supporting Orthodox Jewish households.
The bigger question
AThirty four member states comprise the group that administers the ISAR, which conducts research and policy analysis on related issues. Technical assistance is also provided on capacity-building in the area based on its Accounting Development Tool.
quently the Dean of the University of the Philippines School of Business.
Thereafter, Ambassador Enrique Manalo, Philippine Permanent Representative to the United Nations New York, was elected by acclamation by the UN Economic and Social Council Member States to serve as Member during the Council’s Management Segment meeting held at United Nations Headquarters in New York. The Philippines would serve its third consecutive threeyear term from January 2022 to December 2024.
During these periods, I represented the Philippines and attended the annual Geneva meetings in the historic venue every November. It was an exhilarating occasion to engage with my fellow delegates in the eventful venue of the Palais des Nations in Geneva. Our ISAR meetings over the years dwelled on such important topics as Sustainability reporting and SDGs, International Financial Reporting System implementation and harmonization, accounting for small medium enterprises, corporate governance, capacity building and the Accounting Development Tool.
Your Philippine representatives actively participated in the ISAR’s mission of assisting member states in implementing international standards to promote harmonization and improvement of quality corporate sustainability reporting, which is vital for attracting investment and promoting financial stability.
The Philippines should be proud of the efforts of the Filipino environmental sustainability champions.
To be continued
Joel L. Tan-Torres was the former Dean of the University of the Philippines Virata School of Business. Previously, he was the Commissioner of the Bureau of Internal Revenue, the chairman of the Professional Regulatory Board of Accountancy, and Tax partner of Reyes Tacandong & Co. and the SyCip Gorres and Velayo & Co. He is a Certified Public Accountant who garnered No. 1 in the CPA Board Examination of May 1979. He is now back to his tax and consultancy practice and can be contacted at joeltantorress@yahoo.com and his firm JL2T Consultancy.
As the austerity measures start to bite, they may push more Israelis to move abroad. The numbers have doubled in the past two years, according to government data. Those emigrating are often among the most skilled—such as doctors and scientists—with the best opportunities in other countries. Meanwhile, Netanyahu faces a massive challenge over military service for the ultra-Orthodox. They want to retain their exemption and their parties are in the governing coalition. But after months of duty endured by many others, the rest of Israeli society is demanding an end to the exclusion from call-ups. Whichever side triumphs, the other will be angry. Bloomberg
Siegfred Bueno Mison, Esq.
THE PATRIOT
T the start of anything new, people are hopeful and excited about setting goals. For most private companies, management dictates the budget to insure profitability. Bigger companies, for the purpose of goal setting each year, undergo a thorough strategic planning. Same thing goes with the public entities with no less than the President having approved the controversial 2025 national budget that limits and prioritizes the spending of each agency in the entire bureaucracy.
Despite the veto of President Marcos of over P194 billion (P26 billion worth of DPWH projects) and P168 billion in unprogrammed appropriations, some critics consider the budget signed into law as a significant deviation from the constitutional mandate of prioritizing certain sectors, education in particular. The biggest “losers” in the budget are the Department of Education, Department of Defense, and PhilHealth, which begged the question: Why? The Ayuda sa Kapos ang Kita Program (AKAP), which critics say resembles or practically revives the Priority Development Assistance Fund (PDAF), already deemed unconstitutional by the Supreme Court, raises questions whether this administration is truly committed to good governance and transparency. The start of 2025 indeed raises a lot of concerns, especially since elections are barely a few months away. Anxiety beckons, needless to say.
For ordinary citizens, there are no strategic plannings or budget hearings to set goals for the new year. For most of us, we reflect on the past and look optimistically towards the future. Over various celebrations before the end of 2024, I noticed that the typical question asked was what New Year’s Resolution one has. Predictable answers from family and friends almost always pertain to health (weight loss, quit smoking)
or professional development (promotion, new venture, financial target). After feasting during the last days of December 2024, a lot of friends committed to eat less and exercise more. Some promised to spend less and save more. My pastor friend Gary circulated the bigger questions of “what is the one thing that you are most grateful for this 2024?” and “what is that one thing that you are looking forward to this 2025?” Such thought-provoking questions ought to evoke greater reflection. Over Christmas Eve dinner, my godson Johann Bernardo asked a “nuclear bomb” question: “If you have superpowers and can change one thing in the world, what would you change?”
Author and inspirational leader Andy Stanley presented another bigger and perhaps more difficult question, to which some may have a ready answer while others might not be able to answer at all. Believers or otherwise, such question behooves everyone to think deeper using heart and mind at the same time. So, the bigger question, especially at the start of each season or New Year is, “What breaks your heart?” I think any answer to such question ultimately depends on the season of our lives. In my case, as a student, my answer to such a question could be failing any subject, after all, my parents and siblings were all academic achievers. As an adult, my answer
This 2025, what is more important than setting New Year’s resolutions for individuals or approving the budget for organizations is improving ourselves in whatever way possible.
could be being rejected by a romantic partner despite intense efforts to win her heart. As a professional, my answer could be losing a winnable and meritorious legal case due to money changing hands. When I was in the Bureau, my answer to that same question “What breaks your heart?” could possibly be seeing corrupt people around me get away with it. As I get closer to the discount-laden age of 60, my response could be spending less time with loved ones. In my deathbed, whenever it would be, my answer could be regretting to seize an opportunity to help others. Inevitably, answers to this “heartbreak” question will have something to do with regret and lack of inner peace. This 2025, what is more important than setting New Year’s resolutions for individuals or approving the budget for organizations is improving ourselves in whatever way possible. My daughter Regina seeks to be a better version of herself, after experiencing a tumultuous transition from an employee to an entrepreneur/consultant. As believers, she and I know that Jesus is with us in our respective journeys. Yet, there is much anxiety—mind over heart, not the other way around, for most, unless we are grounded on faith. Corollary to taking bigger efforts vis-à-vis bigger resolutions at the start of another year, the resolve apparently focuses on one’s personal struggle—it is always about toiling and laboring, with much difficulty. Whether it be about eating less and exercising more or getting a fit body, we struggle. We end up doing the opposite—eating more, exercising less. In the interim, we strive to achieve what we have set our eyes on at the onset of each new year. Yet, the percentage of success is at the least bit disappointing. In our spiritual jour-
ney, we are instructed to “love God with all our heart, mind, soul and strength” and to “love our neighbor as our self” (Mark 12:30-31). Truly we ought to obey these commands. However, human beings as we are, it is almost impossible to do so absolutely and indisputably, like it is almost incredible for any human to be able to love God or to love thy neighbor unambiguously—despite all efforts to do so. To this dilemma, one pastor shared a beautiful antidote. He suggests that instead of concentrating on loving God unequivocally, we should instead focus on His love, His grace, His kindness, and His tenderness toward us. Like the biblical John who referred to himself as the “apostle whom Jesus loved” (John 13:23), as against Peter who kept declaring that he loved Jesus for the three times that he was asked (John 21:17 ), our focus should be on God’s love rather than our self-affirmation of love towards Him, or to our neighbor. With the latter, we will always struggle with much anxiety. In sum, it may not be so much as asking the bigger question. Regardless of goals, budgets, targets, and resolutions, ultimately, it all comes down to recalibrating our mind/heart-orientation from our self-efforts to the One true thing that matters most, that is, our Abba Father’s great love for us! When we take from this posture as our point of beginning (that God loves us so much), every good thing will flow naturally and seamlessly. And every big question that may cause stress, including “what breaks your heart?,” can never overtake this truth.
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.
NYC congestion pricing takes effect after years of delays
By Michelle Kaske
CoNGESTIoN pricing has finally arrived in New York City, though its long-term future still remains uncertain.
Drivers entering parts of Manhattan will be charged $9 during peak hours in a program following similar initiatives in London, Stockholm and Singapore that aims to reduce the worst traffic in the world. The first initiative of its kind in the US, congestion pricing promises to bring $15 billion to the Metropolitan Transportation Authority, the agency that runs the city’s century-old subway and commuter-rail lines, for desperately needed upgrades.
“We’re doing something to deal with the reality of the way that congestion is hurting our city and costing people time and money, that we’re protecting the interests of New Yorkers from a health standpoint,” Janno Lieber, the MTA’s chief executive officer, said late Friday after a judge ruled against New Jersey’s request to stop the program from starting on Sunday.
New York may present a model for developing additional revenue sources for transit, said Tiffany-Ann Taylor, vice president for transportation at the Regional Plan Association, which works to improve the economic health and quality of life in the region.
The debut follows years of political bickering and scores of legal challenges. That includes an unsuccessful 11th-hour attempt to block its implementation by neighboring New Jersey. “We are disappointed that the courts are allowing congestion pricing to take effect,” Natalie Hamilton, a spokesperson for New Jersey Governor Phil Murphy, said in an emailed statement after the US Court of Appeals for the Third Circuit denied the state’s appeal. “We will continue fighting against this unfair and unpopular scheme.”
The Federal Highway Administration faces a January 17 deadline to file additional information on efforts to mitigate the tolling plan’s potential effects on traffic and pollution in the Garden State.
A change in administrations in Washington three days later on Jan. 20 also looms large over the tolling plan. In November, President-elect Donald Trump called the charge a “regressive tax” and said it would be “virtually impossible” for New York City to come back if congestion pricing is in effect. Trump may seek a longer environmental review of the program through a legal suit or find a way to stop the tolling through administrative action, according to Brad Lander, New York City’s Comptroller.
The judge in the case, Leo Gordon, is also asking for additional filings beyond Inauguration Day.
Congestion pricing has taken a long and tortured path since it was proposed in 2007 by then-Mayor Michael Bloomberg, the founder of Bloomberg News parent Bloomberg LP. State lawmakers needed to craft legislation to kick start a process filled with cycles of considerations and approvals, eventually approving the concept in 2019.
Then, a tolling structure had to be created. Rates needed to be high enough to discourage driving and shift motorists to public transit, but not so burdensome that they crippled local businesses and the broader economy. About three weeks before the plan was supposed to start last June, New York Governor Kathy Hochul said an initial $15 charge was too large and paused its launch.
Drivers entering parts of Manhattan will be charged $9 during peak hours in a program following similar initiatives in London, Stockholm and Singapore that aims to reduce the worst traffic in the world. The first initiative of its kind in the US, congestion pricing promises to bring $15 billion to the Metropolitan Transportation Authority, the agency that runs the city’s century-old subway and commuter-rail lines, for desperately needed upgrades.
Transit enthusiasts, environmental advocates and some business groups highlight the program’s goal of boosting public-transportation ridership, reducing air pollution and decreasing traffic in one of the world’s most congested urban areas. The MTA will use revenue raised from vehicles traveling south of 60th Street into the central business district to extend the Second Avenue subway to Harlem, modernize train signals from the 1930s and make more stations accessible. About 1.3 million people take public transportation into the district for work compared with 143,000 who drive, according to the MTA.
“Several million people ride the subway every day, so fixing it is not optional,” said Danny Pearlstein, policy and communications director for Riders Alliance, a transit advocacy group. “It’s necessary for the future of the city and the state’s economy to thrive.”
Still, some elected officials in New York and New Jersey warn the new fee will hurt small businesses in the tolled zone and imposes another financial burden on their residents.
“Maybe fewer cars and trucks will go south of 60th street in Manhattan, which may help some fancy
folks living in lower Manhattan, but what about the people here in northern New Jersey?” US Representative Josh Gottheimer, a Democrat of New Jersey, said during a news conference on congestion pricing. “What about all those people in the outer boroughs of New York?
Passenger cars with an E-ZPass will pay $9 once a day to enter the tolled area during peak hours, but will receive credits of between $1.50 and $3 if motorists already paid tolls on certain tunnels headed into Manhattan. Smaller trucks with an E-ZPass will pay $14.40 every time they enter the district during prime hours, with tunnel crossing credits of $3.60 to $7.20.
Passengers in for-hire vehicles like Uber and Lyft will pay a per-trip charge of $1.50 while riders in taxis will pay a 75-cent fee. There’s no toll on the West Side Highway or the Franklin D. Roosevelt East River Drive, but motorists will pay the fee if they leave those highways and enter the district south of 60th Street. Discounts for low-income drivers, tax credits for low-income residents of the central business district, and disability exemptions for individuals who are unable to access public transportation will also be available. While Hochul lowered congestion fees for the plan’s current iteration, they’re set to increase to $12 in 2028 and $15 in 2031. If congestion pricing were paused again or terminated, the MTA’s combined capital budget deficit would balloon to almost $50 billion. Albany could force the MTA to scale back its infrastructure plans, which would delay needed improvements. Ultimately, lawmakers will need to increase existing levies or create new ones to raise the tens of billions required to update a transit system that suffered years of neglect. With assistance from Bob Van Voris and Sri Taylor /Bloomberg
January 6, 2025
Court nixes new attempt to bar John Hay return to govt
By Andrea E. San Juan @andreasanjuan
THE Baguio Regional Trial Court has rejected Camp John Hay Development Corporation’s “fresh attempt” to prevent the full return of the 247-hectare property in Camp John Hay to the government, according to state-owned firm Bases Conversion and Development Authority (BCDA).
In an order dated January 3, 2025, Branch 6 of the Baguio Regional Trial Court junked CJH DevCo’s motion to delay the recovery of the subject property.
This means all land and improvements in the property, whether directly held by CJH DevCo, its subsidiaries and/or affiliates or occupied/held by other individuals or parties claiming rights under them, must be turned over to the BCDA,” the state-owned firm said in a statement on Sunday.
In addition, BCDA said, the RTC’s order directs its sheriffs to immediately and fully implement
vs. Commission on Audit and BCDA, allowing BCDA to recover the 247-hectare Camp John Hay property from CJH DevCo.
“Consequently, all rights claimed, acquired, derived, or traced from CJH DevCo are covered by the final judgement of the Supreme Court,” BCDA said in a statement it issued on December 27,2024.
its reinstated writ of execution and notice to vacate, so the property can be returned to the BCDA.
BCDA assures the public that businesses will continue to operate in Camp John Hay. It is also calling on all stakeholders to step forward, reach out to them, and work together for a smooth and orderly transition,” the state-owned firm said in a statement on Sunday.
On October 22,2024, the Supreme Court issued a Certificate of Finality of Judgment in the consolidated cases of BCDA vs. CJH Development Corporation (CJH DevCo)., et. al., and CJH DevCo
6-M devotees expected to join Traslacion 2025
By Justine Xyrah Garcia
HE number of devotees ex -
Tpected to join the Traslacion of the Jesus Nazareno on January 9, 2025 remains exceptionally high.
Manila City Hall anticipates around 6 million attendees for the annual religious procession, which has consistently drawn massive crowds in the past, except during the pandemic.
Manila Mayor Sheilah “Honey” Lacuna, in a press briefing, noted the participants’ strong devotion and said the turnout is expected to remain consistent with last year’s figures.
“ In my view, the numbers won’t go down—it’s still the same as last year, when an estimated 6 million went to Quiapo Church for the feast,” Lacuna said, partly in Filipino.
She asked devotees to follow safety and security guidelines to ensure a peaceful, orderly and safe celebration.
The Philippine National Police will deploy 12,000 personnel in and around Quiapo starting January 8 to secure the event.
Some 2,500 personnel from the Armed Forces of the Philippines, Philippine Coast Guard, Bureau of Fire Protection, Bureau of Jail Management and Penology, and the Metropolitan Manila Development Authority will be fielded, too.
PNP Brigadier General Arnold Thomas C. Ibay assured the public that no threats have been identified so far, although security measures remain stringent.
So far, we have not monitored any threats. But we are not letting down our guard,” he said.
He said the Manila Police District has requested a temporary signal interruption on the day of the Traslacion to prevent potential disruptions, such as the use of mobile devices for untoward activities.
Schedule, Traslacion route
THE Quiapo Church Fiesta Committee provided updates on the schedule of events leading up to the Traslacion.
The annual “Pahalik,” where devotees can kiss, touch, or wipe
their handkerchiefs on Jesus Nazareno’s image, is set at the Quirino Grandstand from January 7 to 9.
Fiesta masses in Quiapo Church will begin at 3pm on January 8 and continue until 11pm the following day.
On the eve of the Traslacion, a band parade, evening prayers, and prayer vigil will also take place at the Quirino Grandstand.
At midnight on January 9, Manila Archbishop Cardinal Jose Advincula will preside over the traditional “Misa Mayor.”
Th e Traslacion will begin early that same day, tracing a 5.8-kilometer route across Manila that will pass by three plazas, 18 national and city roads, six bridges, and one underpass.
Technical Adviser Alex Irasga reminded devotees not to gather in areas that have yet to be passed by the procession to prevent overcrowding and ensure a smoother flow.
Meanwhile, those attending the hourly Fiesta masses in Quiapo are reminded to enter through the Church’s doors in Carlos Palanca and Villalobos streets.
Improved andas TO enhance safety and visibility during the procession, changes were made in this year’s andas or the carriage transporting the image of the Nazarene for devotees, Irasga said.
These include the addition of glass panels on top for better visibility, ventilation on both sides to reduce moisture buildup, and exhaust fans on the ceiling.
“ We have further strengthened the stainless, fortified yan.… We also put protection for the wheels to prevent them from stalling if they pass over certain obstructions,” Irasga added in Filipino.
To avoid accidents, the steps of the andas in the front and back were removed to discourage devotees from climbing the carriage.
In past years, Quiapo Church has reminded devotees that boarding the carriage is prohibited but some devotees continued to do so— risking injuries and causing delays.
I n a separate statement issued on Sunday, however, BCDA reported that despite the clear language of the Supreme Court decision, “some persons in the guise of allegedly protecting the rights of third persons have sought to disseminate misinformation and an inaccurate interpretation of the decision.”
The BCDA advises everyone to be vigilant and read the Supreme Court Decision itself, to correct any and all attempts at defrauding the public,” the stateowned firm noted.
W ith the Supreme Court’s
recent ruling in favor of BCDA on the Camp John Hay which enabled the state-owned firm to regain control over the said property, BCDA said a “wealth of opportunities offering benefits for everyone will be unlocked.”
These benefits, according to the BCDA, include being able to attract new investments that will create jobs and boost the domestic economy, and encourage local entrepreneurship.
Moreover, it noted that Camp John Hay will be open to all Filipinos, “promoting inclusivity and social cohesion by reinvigorating and fostering various outdoor and indoor activities.”
The state-owned firm said regaining control over the Camp John Hay property paves the way for redevelopment projects that will transform the area into a “familyand community-oriented” space.
BCDA wishes to stress that only through collaborative efforts can the benefits of the ruling be maximized. This Supreme Court victory is not just about BCDA; it is about building a brighter, more inclusive future for all Filipinos,” the state-owned firm underscored.
MARBIL VOWS PNP SECURITY, PRC DEPLOYING FOR JAN.9
WITH millions of devotees expected at this year’s Traslacion on January 9, National Police chief Gen. Rommel Francisco Marbil said Sunday the PNP has set extensive security measures to guarantee a safe, orderly, and meaningful event for all participants.
“ Traslacion is a profound expression of faith and devotion. The PNP is fully committed to safeguard every devotee, dedicating all resources needed to ensure peace and order during this sacred occasion,” he added.
Marbil said the PNP’s security plan is in coordination with local governments, religious organizations, and other relevant government agencies.
T housands of police personnel will be deployed in key areas, including the procession route, highden sity locations, and designated entry and exit points.
Specialized units trained in crowd control will be on hand to maintain order and ensure the smooth flow of participants, while the PNP Intelligence Group and Anti-Cybercrime Group will closely monitor any potential physical and digital threats,” Marbil said.
He said medical teams and quickresponse units will be strategically positioned to provide immediate assistance when needed, while the Highway Patrol Group and local traffic enforcers will manage traffic flow and implement rerouting to minimize disruptions for both devotees and the general public.
Marbil asked devotees to follow security protocols, including n ot bringing prohibited items such as
bladed or pointed objects, backpacks, or any items that may pose safety risks.
“ We call on devotees and the public to cooperate with security protocols, report any suspicious activities, and prioritize safety. Your vigilance and cooperation are vital to the success of this event,” Marbil emphasized.
“Security is a shared responsibility. Through unity and collaboration, we aim to make Traslacion 2025 a secure and spiritually enriching experience for everyone,” Marbil added.
Red Cross assurance
THE Philippine Red Cross (PRC) has expressed readiness to assist devotees for this year’s Traslacion or “Walk of Faith.” Around 500 volunteers and staff from the PRC national headquarters, and its chapters and branches in Manila, Malabon, Caloocan, Quezon City, Marikina, Pasay, Valenzuela, Makati, Mandaluyong, San Juan, Pasig/Pateros, Muntinlupa, Taguig, Parañaque, and Rizal Province will be deployed for the Nazareno operations.
A total of 17 first aid stations will be set up in strategic points of the Traslacion procession route from the Quirino Grandstand to the Minor Basilica and National Shrine of Jesus Nazareno (Quiapo Church).
M eanwhile, 18 ambulances from PRC’s chapters in Metro Manila will be deployed; 20 ambulances from the Central and Southern Luzon chapters will be on standby.
By Malou Talosig-Bartolome @maloutalosig
UP to 300 Afghan nationals, many of them children, were scheduled to fly to the Philippines Sunday on a special arrangement with the United States government to facilitate the processing of t heir applications for permanent residency in America.
The Philippine Department of Foreign Affairs issued entry visas to these Afghans after Philippine intelligence agencies and the US State Department had conducted “full security vetting” of their profiles.
Th ey also underwent medical screening before their flight to the Philippines.
Th e Afghans were former employees of the US mission in Afghanistan during the 20-year US invasion of Afghanistan as an offshoot of the 911 attacks.
A U S State Department official said “many” of this Afghans are children. There are
also Afghan journalists.
The 300 Afghans will temporarily stay in the Philippines while the US Embassy in Manila processes their applications for special immigrant visas (SIVs).
A senior DFA official said the Afghans are only allowed to stay in the Philippines for a maximum of 59 days.
The US Embassy in Manila should finish the processing of SIV application within 59 days. If the visa application is approved or denied, the US is u nder obligation to fly them to the US or back to Afghanistan.
Housed in Clark SOURCES said the Afghans will be housed in a housing facility inside Clark Development Corporation in Pampanga. They will be restricted within the compound, except when they go to the US Embassy in Manila for interviews.
Th e International Organization for Migration, as the facility manager, will ensure that the Afghan applicants, especially the children, get “adequate social,
educational, religious and emotional support” during their stay. The US government will bear the costs for the sustainment of the applicants while they are in the Philippines,” a DFA senior official said.
Th e US Congress had earlier allowed a maximum of 38,000 former employees of the US Embassy i n Kabul and their immediate family members to resettle in the US as p ermanent residents, and eventually become US citizens. W hen the US and its allies withdrew forces from Afghanistan in 2021, about 88,500 Afghan nationals were evacuated and resettled in t he US. Nongovernment organizations believe thousands more were l eft in Afghanistan.
Since the US government no longer has a presence in Kabul, it asked the Philippines to host the Afghan applicants while their visa application is being processed in Washington.
D iplomatic officials said the Philippines was chosen among several countries because it hosts
the largest US consular section in the world, next to Mexico. The US Embassy in Manila has a large consular office and can process the visa applications of the Afghans without hampering their local o perations. Some other embassies could probably process these individuals but there could be a significant effect on the local operations,” a n official explained. L ast July 29, 2024, the US and Philippine foreign ministries signed the agreement for the temporary hosting of Afghan SIV applicants. On September 25, 2024, P resident Ferdinand Marcos Jr. ratified the bilateral agreement. T he DFA did not submit the agreement to the Philippine Senate for concurrence. However, the DFA official stressed that the arrangement addressed “key concerns and priorities” of the Philippine government, after almost two years of negotiations.
See “Marbil,” A2
Editor: Jennifer A. Ng
Dito slashes capex budget as focus shifts to efficiency
DBy Lorenz S. Marasigan @lorenzmarasigan
ito telecommunity Corp. is reducing its capital expenditures (capex) significantly in 2025, targeting to spend as low as P15 billion, as it has completed its committed population coverage last year.
In a recent interview, Dito CEO Eric Alberto said the company is allotting between P15 billion and P20 billion in capital outlays this year, a considerable drop from its 2024 allocation of P25 billion to P30 billion.
work, enhancing capacity in high-demand areas, and leveraging advanced technologies for upgrades.
“What we’re doing now is really filling the gaps where we see the gaps are and increasing our capacities where we have a lot of take up. We’re doing that in a very digital and scientific way because our network is very intelligent. We actually rely on state-of-the-art and very timely insights from an intelligent network-you know AI and other analytics that our network is capable of.”
us is to become financially stable and subsequently sustainable,” he said.
Alberto said Dito expects to have closed 2024 with a 50-percent revenue increase, a “modest achievement coming from the three years of commercial operations.”
If the trajectory held, Dito’s revenues may have reached between P16 billion and P17 billion in 2024, up from P11 billion in 2023.
B1
TThe reduced capex will focus on optimizing the existing infrastructure rather than expansive rollouts. According to Alberto, the strategy involves addressing gaps in the net-
“We finished the rollout; we’re now over 86 percent (coverage) of the population with the best network. We now have to temper our capex between P15 billion to P20 billion.”
As Dito transitions from network expansion to operational efficiency, Alberto emphasized the company’s pressing need to monetize its infrastructure to achieve financial stability. “The challenge for us is that now that we built the network, we monetize the network. The goal for
Alberto said last December that is a “modest achievement coming from the three years of commercial operations.”
“Of course our base is low, but in terms of growth rate, we already registered 50 percent or 51 percent in the third quarter—the highest growing telco in the world.”
Dito is gunning to become profitable by 2028.
DMCI rethinking cement plant
DBy VG Cabuag @villygc
MCI Holdings Inc., the holding firm of the Consunji Group, said it may shelve plans to develop a new cement factory in Semirara Island.
Herbert M. Consunji, the company’s CFO, said DMCI is postponing the construction of the Semirara cement plant due to the group’s recent acquisition of nearly 90 percent of Cemex Holdings Philippines Inc., which will be renamed Concreat Holdings
Philippines Inc.
Consunji, now also Cemex president and CEO, said its unit Solid Cement has a new expansion plant in Antipolo, which is much closer to the main cement market of Metro Manila and key provinces in Luzon.
Apo Cement, another brand owned by DMCI, has a plant in Cebu which serves the Visayas region. Producing cement on Semirara Island would necessitate shipping and transportation, adding to the product’s cost.
Consunji also pointed out that
DMCI’s coal operating contract from the Department of Energy (DOE) will expire on July 14, 2027. Any plan to build a cement plant on Semirara Island will have to wait until the said contract is renewed.
DMCI, a firm known for its construction projects in the country, earlier said it has more than 1 billion tons of limestone reserve in Semirara Island, enough to support its cement manufacturing plant for the next 500 years.
DMCI Chairman and President Isidro Consunji said the limestone
reserve is not an issue for them to operate its own cement plant within the same island where the coal is mined.
The company, however, has to secure the necessary permits from the government agencies such as the Mineral Production Sharing Agreement or MPSA and it still has to inform the DOE, its regulator, on its new venture.
Consunji said the company will spend more than $300 million for the cement plant that has a capacity of 5,000 tons a day or 2.4 million tons per year.
US car sales get year-end boost from Trump’s threat to end EV tax credits
THE t hreat by President-elect
Donald Trump to end tax credits for electric vehicles helped lift sales in the fourth quarter, giving US automakers a much-needed boost after a disappointing year. At General Motors Co., EV sales more than doubled to almost 44,000 in the quarter. Ford Motor Co. saw a 16-percent jump in the category to about 30,000 vehicles. Overall EV sales gained 12 percent, pushing the full-year total to a record 1.3 million, according to forecasts from researcher Cox Automotive.
The strength in EVs helped push total car sales up from the year prior. The annualized rate for 2024 rose to 15.9 million cars, based on the average forecast of four researchers, up from 15.5 million a year ago.
Stocks of automakers were mixed. EV maker Rivian Automotive Inc., which reported production and deliveries that topped estimates, advanced 24 percent at the close in New York. Ford rose 2.4 percent, and General Motors gained less than 1 percent. Stellantis NV’s US shares fell 2 percent after fourth-quarter sales declined.
This EV surge isn’t expected to last into 2025. The results of the US presidential election encouraged buyers holding out for deals to make purchases before potential policy changes championed by Trump make electric options more expensive.
Only a quarter of new-car shoppers are considering an EV for their next purchase, down two percentage points from a year ago, according to JD Power.
“Threats and worries” contrib -
uted to a “sense of urgency to buying,” Jonathan Smoke, Cox’s chief economist, said on a December call with reporters. “That’s true in overall purchase activity, and it’s also very much true to the EV story.” Trump made repealing federal policies meant to boost US EV sales a key part of his campaign, railing against what he called President Joe Biden’s “insane electric vehicle mandate.” Advisers to his transition team have recommended cutting the $7,500 tax credit on plug-in vehicles, which would make the already expensive vehicles even further out of reach for US consumers. The presidentelect has also threatened tariffs on Canada and Mexico — both tightly integrated into the US auto supply chain—which could also drive up the price of cars.
Sales of Ford’s electric Mustang Mach-E jumped 36 percent in the fi-
nal three months of the year, helping to offset a 10-percent decline in deliveries of the F-150 Lightning plug-in pickup truck. Ford halted production of the Lighting at the end of last year to reduce inventory and losses. Total F-Series pickup truck sales, including gas-fueled models, rose 21 percent in the quarter.
Tesla Inc. is still the sales leader in EVs by far, but experienced its first annual sales drop in more than a decade last year despite reporting record fourth-quarter deliveries. Meanwhile, electric compact and mid-size SUVs from GM, Honda, Hyundai and Kia attracted more shoppers in December, according to JD Power.
Free chargers
On average, EV buyers got a $5,600 rebate per car with the current tax credit, JD Power figures show. Without that kind of incentive, demand could plunge as much
as 27 percent, according to economists. Ford extended a promotion through the first quarter of free home chargers and installation to buyers of its EVs, which it credited for the late-year surge in battery powered models.
While some carmakers, like GM and Hyundai, have pledged to push ahead with EV offerings regardless of policy changes, others have delayed EV plans to prioritize hybrids, which saw outsized growth in 2024. Stellantis said last month it would delay launching its all-electric Ram a year in favor of an extended-range version. Hyundai said it would double its hybrid lineup and Ford has pledged to offer hybrid versions of all its models by 2030 after slashing prices on its EVs and postponing new electric models.
Automakers that take that “basket approach” will come out on top in 2025, GlobalData’s Schuster said. “If you have a full lineup of options, that’s who wins.”
As for the overall new car market, lower interest rates, rising manufacturer incentives and fading anxiety around the election drew more buyers, prompting analysts to raise fullyear sales forecasts. Earlier in the year, inflation and a cyberattack on car dealerships had dimmed the sales outlook for 2024.
General Motors was the biggest automaker in the US by sales last year, delivering 2.7 million cars, followed by Toyota Motor Corp., Ford, Honda Motor Co., Stellantis and Hyundai Motor Co., according to company statements. Bloomberg News
HE Securities and Exchange Commission (SEC) may allow companies to extend the three-year period of the shelf registration of bonds.
In a draft resolution submitted for public comment, the SEC may allow the extension of the shelf registration for additional tranches, if the seasoned issuer will file an application between 60 to 180 days prior to the expiration date.
“Prior to the end of the three-year period under SRC [Securities Regulation Code] Rule 8.1.2, a seasoned issuer may file a new registration statement to extend the offering period for additional tranches of securities described in the same section,” it read,
“The new registration statement, including the prospectus therein, shall include all the information that would be required covering all the offerings it relates to.”
The new registration statement shall be filed no earlier than 180 days and no later than 60 days before the expiration of the original registration statement.
Prior to the effective date of the new registration statement the seasoned issuer may include in such new registration statement any unsold securities covered by the earlier registration statement.
Such securities should be identified and disclosed in the new registration statement and may be offered and sold under the terms of the new registration statement, it said.
A seasoned issuer pertains to any issuer designated by the SEC as having demonstrated that it meets the SEC’s requirements as to its size, list-
BUDGET carrier AirAsia Philippines said on Sunday it is ready to accommodate the surge of passengers returning from their festive travels.
In a statement, AirAsia Philippines Communications and Public Affairs Head Steve Dailisan said the airline remains on high alert at key airports to ensure a smooth and seamless travel experience for passengers, especially as peak travel numbers are anticipated starting today, Monday.
Between December 16 and January 6, AirAsia Philippines served over 400,000 passengers, surpassing its initial projection of 300,000.
“We expect a continuous increase in passenger traffic at our check-in counters until January 10th, as many of our kababayans have extended their holiday leave to enjoy more time with their loved ones in the provinces,” Dailisan said.
“This is why we remain fully prepared and will continue our operational readiness after the holidays and into the upcoming lively fiesta season in key destinations like Kalibo, Cebu, and Bohol.” Dailisan noted that the carrier is
ing history and track record.
The issuer should satisfy one of the following criteria: have a minimum market capitalization of P50 billion over 180 market days before the offer; or have net assets of at least P5 billion in its most recent audited annual financial statements and a minimum annual average amount of at least P3 billion in net assets for its three most recent financial years. Seasoned issuers will be subject to more streamlined regulatory requirements and shorter review process for the registration of their fixed income securities.
“The Commission may, at its discretion, waive or reduce certain disclosure and documentary submission requirements for seasoned issuers, provided that sufficient information is available to ensure investor protection.”
The said issuer, however, should have listed the issuance of registered corporate bonds on a registered fixed income market for at least three years before the date of the offer. It should, on average, has a positive net cash inflow from its operating activities for its three most recent audited annual financial statements; has obtained a minimum credit rating of A, or its equivalent, from an international credit rating agency or Aa in a local credit agency; or should have listed the issuance of bonds on a registered fixed income exchange of a total value of not less than P10 billion over the previous three years with no default in repayments under the bonds.
The SEC will accept comments on the new rule until January 26. VG Cabuag
looking forward to 2025, affirming the budget carrier’s promise of providing affordable travel experience.
Last December, AirAsia said it is targeting to fly some 7.5 million passengers this year.
The airline, which now focuses on “profitability and operational efficiency,” intends to focus on strengthening its core routes and optimizing its Manila hub.
“We are targeting about 7.2 million passengers for 2024. By next year, we are expecting about 7.5 million,” AirAsia Philippines CFO Zoey Lee said.
“New routes are still under discussion, but for now, we are prioritizing the profitability of our current routes maintaining what we have and make Manila hub as the main focus in the Philippines.”
AirAsia Philippines CEO Ricky Isla echoed Lee’s sentiments, emphasizing the strategic importance of Manila and the airline’s current fleet of 16 aircraft.
“Manila is our most important hub. The optimization of this hub and our 16 aircraft — we will concentrate on that,” he said. “Profitability is crucial. We need to be practical but agile.” Lorenz S. Marasigan
A customer looks at the trunk of a vehicle at a tesla store in colma, california. PhotograPher: DaviD
Paul Morris/BlooMBerg
BusinessMirror file Photo
Banking&Finance
‘Defunding PhilHealth fails solving health ills’
By Rizal Raoul S. Reyes @brownindio
ABRUPTLY defunding the insurance agency will not address the growing problems of health financing, especially without concrete steps from the government to resolve them, according to think tank Ibon Foundation Inc.
In her article posted on Ibon’s website “PhilHealth Zero Subsidy: Reflection of Government Neglect,” Ibon Researcher Maricar R. Piedad pointed out that it’s “high time for the Marcos administration to realize that the health needs of Filipinos cannot be provided by a highly commercialized health insurance system.”
“As long as the insurance-reliant health financing framework remains, ordinary Filipinos will continue to bear the burden of rising healthcare expenses,” Piedad wrote.
It is undeniable that many poor and low-income Filipinos rely on PhilHealth’s meager support, and giving it zero subsidy will inadvertently hinder access to health services. It will also place more pressure on ordinary Filipino employees who are mandated by the law to pay their premium contributions as the main source of the pooled funds.
She said the government is constitutionally obligated to protect and promote Filipinos’ right to health. Piedad lamented that the unilateral decision of Congress to redirect the provisioned health budget to “other departments” is not only misguided, but also violates this duty.
According to her, funds collected from the contributions of the people should be returned to them through a greatly expanded public health system that will truly serve their needs.
Reduction, remittance
THE decision to cut PhilHealth’s government subsidy to zero, as approved by the Bicameral Conference Committee on the National Budget, has drawn criticism from health advocates and the paying public. The P74-billion budget reduction was made to supposedly teach the agency a lesson for not spending its money properly and accumulating around P600 billion in reserve funds from unspent budgets in previous years.
President Ferdinand R. Marcos Jr. supported the move, stressing PhilHealth’s funds are sufficient in 2025. According to Marcos, the slashed allotment could instead be used for other services.
In a video, President and CEO Emmanuel R. Ledesma Jr. said Philhealth will continue to cover the people’s health benefits with or without government support. Ledesma cited PhilHealth’s strong and sufficient financial position with P281 billion in reserves, P150 billion in “surplus” funds, and a P489-billion investment portfolio.
Piedad wrote that PhilHealth was already facing scrutiny before the zero-subsidy proposal. The Department of Finance (DOF) directed the agency to return P89.9 billion in reportedly unutilized subsidies to the Bureau of the Treasury, of which P60 billion has reportedly been remitted. However, the return of the remaining balance was aborted upon a Supreme Court temporary restraining order (TRO) pushed by civil society groups deeming the DOF order unlawful.
“Further criticism arose over PhilHealth’s memorandum of agreement with Tingog Partylist (represented by House Speaker Ferdinand Martin G. Romualdez’s wife Yedda Marie) and the Development Bank of the Philippines for its rural health financing program, as well as [Philhealth’s] controversial P138-million anniversary budget,” she said.
Indirect, direct contributions ACCORDING to Piedad, these controversies emphasize the concerns about PhilHealth’s effectiveness in fulfilling its mandate to provide health insurance services for the public. “Furthermore, questions on the public health system’s thrust of being overly reliant on insurancebased financing rather than direct service delivery are being raised,” she said.
Although the state is right to call attention to PhilHealth’s huge savings, especially while many Filipinos are heavily burdened with the rising costs of healthcare, Piedad questioned if the move of defunding PhilHealth is the right solution. PhilHealth’s pool of funds come from direct and indirect contributions.
The national subsidy to PhilHealth, as mandated by the Universal Health Care (UHC) Law, is sourced from various channels such as: sin tax collections; the national share of income from the Philippine Amusement and Gaming Corp.; the Charity Fund (net of documentary stamp tax payments); and, mandatory contributions from the Philippine Charity Sweepstakes Office. In 2022, over P79 billion in sin tax collections were allocated to PhilHealth, which was reflected in the 2024 General Appropriations Act.
“It is no surprise that the agency’s substantial savings come from spending less on benefit packages than it receives in contributions,” Piedad said.
From 2020 to 2023, PhilHealth’s total contributions amounted to P732.5 billion, with P447.7 billion from direct premiums and P284.8 billion from government subsidies for indirect contributors. However, during the same period, the agency paid out only P436.1 billion in claims— P229.4 billion for direct contributors and P206.7 billion for indirect contributors. This means PhilHealth used just 60 percent of its total contributions to cover health benefit claims, leaving nearly P300 billion in unused funds.
Saving funds
AS an insurance agency, Piedad said PhilHealth is legally required to set aside a portion of its accumulated revenues, not needed for current expenditures, as reserve funds. However, these reserve funds should not exceed the agency’s two-year actuarially-estimated program expenditures.
Nevertheless, she said It remains unclear whether the reported P600 billion in reserve funds exceeds this ceiling. What is clear, according to Piedad, is that PhilHealth has prioritized saving its funds over saving lives. Further, she said this huge accumulated reserve stems from the agency’s delays in expanding and improving the scope of its health benefit packages.
From 2020 to 2023, there was little change in Filipinos’ household out-of-pocket (OOP) share of healthcare costs. In 2020, OOP accounted for 44.6 percent of current health expenditure (CHE) decreasing negligibly to 44.4 percent in 2023. Meanwhile, PhilHealth’s share of the CHE dropped from 14.6 percent in 2020 to 10.2 percent in 2023.
The agency’s reserve funds grew significantly over this period, from P140.9 billion in 2020 to P463.7 billion in 2023.
“Yet even with that much money, the agency still pushed for an increase of the premium rate contribution to five percent,” Piedad wrote.
Since the UHC Law was enacted, PhilHealth’s subsidies and premiums have risen substantially. However, one of its main targets—reducing the OOP share and making the agency the primary contributor to health expenditures—remains unmet.
BSP lifts ban on electronic money issuers’ application
By Cai U. Ordinario @caiordinario
THE Monetary Board has lifted the moratorium on the application of new Electronic Money Issuers-Non-Bank Financial Institutions (EMI-NBFI) to expand the use of digital payments and promote financial inclusion nationwide.
The lifting of the ban was approved by the Monetary Board on December 5, 2024, and became effective December 16, 2024, as contained in Memorandum M-2024-046 by the Bangko Sentral ng Pilipinas (BSP). EMIs are BSP Supervised Financial Institutions (BSFIs) that offers payment services and engage in e-
money business in the Philippines. They are classified as EMI-Banks and EMI-NBFI, which includes cooperatives.
“The BSP’s decision to lift the moratorium aims to promote digital payments, enhance financial inclusion, and foster innovation that could serve a wider segment of the
market,” the BSP said.
The BSP said new EMI-NBFI applications must include insights on their planned business model and target market. These insights should be based on market studies.
“NBFI applicants are enjoined to submit only applications that have undergone thorough market research and data-driven analysis process, particularly focused on the specific market they intend to serve,” the BSP said.
The central bank also said the applicants should meet the standard licensive criteria including the transparency of the ownership and control structure of these EMI-NFIs.
Further, information on shareholders; fitness and propriety of directors and senior management; adequacy of capital; and the appropriate risk management system must be included in the application.
“Only applications that meet the standard licensing criteria, include
evidence-based market study, and involve new business models; unserved market, targeted niches; and new technologies, shall be accepted for processing,” BSP said.
Based on BSP Circular 1166 (series of 2023), EMI-NBFIs should have a capital of P200 million for large scale institutions and P100 million for small scale institutions.
EMI-NBFIs are considered to be large scale if the average value of aggregated inflow and outflow transactions is equal or greater than P25 billion over a period of 12 months. Small-scale EMI-NBFIs can be considered large-scale if they meet this criterion unless they remain classified as small-scale by the BSP. However, cooperatives that are EMI-NBFIs are required to maintain a higher required minimum capital based on provisions under Republic Act 9520 (Philippine Cooperative Code of 2008).
‘Government prioritizes pork than priority projects’
By Reine Juvierre Alberto @reine_alberto
INSUFFICIENT revenue generation and the insertion of “pork” in the 2025 national budget have forced the government to put priority programs or projects on standby under unprogrammed appropriations (UAs).
UAs were reduced to P363.425 billion from P531.665 billion under the 2025 General Appropriations Act (GAA). Although this is lower by 50.31 percent from the 2024 level of P731.448 billion, this is still higher by 129.05 percent than the initial P158.665 billion under the 2025 National Expenditure Program. Projects and programs under UAs can only be funded when there are excess revenue collections, new revenue sources or through approved loans for foreign-assisted projects.
Ateneo de Manila University Economist Leonardo A. Lanzona told the BusinessMirror that UAs, associated with the government’s
Regulation,
T“non-priorities,” show its trade-off between programmed appropriations, which are prioritized needs, due to tight fiscal space.
Personnel benefits, social services, government counterpart of foreign-assisted projects, infrastructure projects and other priority projects are listed under UAs.
“The inability of the government to raise enough revenue and its penchant to rely significantly on non-tax revenues has made it impossible to meet all its commitments simultaneously,” Lanzona said.
Record-high P555.30 billion in non-tax revenues was collected as of end-November 2024 while P606.6 billion is expected to be raised for the full year 2024. This, as the Department of Finance (DOF) made up the shortfall in tax collections from the Bureaus of Internal Revenue and Customs.
This year, the government aims to raise P4.332 trillion in tax revenues, P210.793 billion in non-tax revenues and P101.016 billion from privatiz-
ing government assets. Lanzona said putting priority programs under UAs reveals lawmakers’ prioritization of pork “because their survival depends on it. The government is treading on dangerous waters by approving this kind of project.”
“[B]ecause the revenues are not enough, the risks of facing angry voters can somehow be mitigated if pork is just enough to feed the voters’ needs,” Lanzona added.
President Ferdinand R. Marcos Jr. vetoed P168.24-billion worth of items from UAs, such as the priority social programs for health, the Rice Competitiveness Enhancement Fund, payment of right-of-way sites and the Pantawid Pamilyang Pilipino Program, among others.
“Expenditures should generally be within the parameters of programmed resources as envisioned by our fiscal planners,” Marcos Jr. said in his veto message.
Lanzona said the President’s veto is the government trying to show that this was an exercise of fiscal
discipline. However, he added, vetoing UAs will do nothing since, at the onset, there was really no funding for these programs.
“The truth is that none of the pork has been reduced. The Congress had already considered much of these social protection programs less important than the pork embedded in infrastructure programs,” Lanzona added.
Should these programs under UAs remain on standby and were not funded, Lanzona said economic growth will be unaffected in the short run.
However, he cautioned that if this continues, the economy will weaken as social protection is left in chaos, stressing its importance in a globalized economy vulnerable to external shocks.
“Those who are close to the politicians will likely be protected, but those who need them the most will continue to be helpless. All of this is because their priorities are to control power,” Lanzona added.
deals and crypto: Fintech themes to watch in ’25
HE clouds that hung over the financial-technology industry in 2024 appear to be clearing as interest-rate cuts, recoveries in fintech stocks and promises of a looser regulatory environment in the second Trump administration paint a more promising outlook for startups.
After capturing a windfall of investment during the period that followed the Covid-19 pandemic, the fintech industry’s vast crop of startups across payments, lending, consumer banking and other categories faced a challenging adjustment period. As venturecapital funding dried up, some fintechs cut their spending through layoffs and more-focused product strategies. Others with significant war chests held onto valuations that now appear to have been inflated during the frenzied funding period.
These factors all combined to stall deal activity, slow growth and inspire laments of a “fintech winter.” For 2025, however, industry insiders are optimistic that the tide will turn and momentum will build around new technologies like stablecoins and that capital raising, acquisitions and public listings will begin to pick up.
Here are three fintech themes to watch in 2025.
Relaxed regulation
THE bankruptcy of banking-as-a-service startup Synapse Financial Technologies Inc. left thousands of fintech customers without access to funds held in accounts that were, in some cases, advertised as protected by the Federal Deposit Insurance Corp. The debacle has put partnerships between banks
and fintech startups in the regulatory hot seat and accelerated a wave of enforcement actions against so-called sponsor banks which partner with fintechs to enable them to offer financial products. The current administration has responded with a slate of enforcement actions, proposed rule changes and public guidance.
Yet even before the Synapse disaster, FDIC Chairman Martin Gruenberg stoked the ire of policy groups like the American Fintech Council, which argues that his agency adopted a “regulation by enforcement” approach, stifling innovation in the banking industry. Similarly, the Consumer Financial Protection Bureau has long been accused of regulatory overreach. Its recent moves have included claiming oversight of digital wallets peddled by large technology companies and probing fintech firms including PayPal Holdings Inc., Affirm Holdings Inc., Klarna Group Plc and Block Inc.’s Afterpay.
That all stands to change under the incoming administration. Donald Trump’s advisers have sought to shrink or eliminate bank regulators, including the FDIC and the CFPB, the Wall Street Journal reported. Elon Musk, co-lead of the initiative dubbed Department of Government Efficiency, or DOGE, issued a call to “Delete CFPB” in an X post. President-elect Trump supports DOGE and has the power he needs to fire CFPB director Rohit Chopra, if nothing else. Other financial regulators expected to be replaced include the FDIC’s Gruenberg and the acting head of the Office of the Comptroller of the Currency, Michael Hsu.
“It will have an immediate impact on
tone, and you’ll have a relatively swift change in terms of the experiments people are willing to do, the things they think about prioritizing,” said Amias Gerety, partner at QED Investors and former acting assistant secretary for financial institutions at the U.S. Treasury Department. “At the same time, most financial institutions try to chart a reasonable course so they don’t have to change their business significantly when regulatory attitudes change.”
Deals, deals, deals
THE bounce-back of publicly traded fintech companies following steep declines from 2021 peaks has stoked optimism that opportunities for public listings are on the horizon. The Ark Fintech Innovation ETF rose about 34% in 2024. Buy-now, pay-later firm Klarna and neobank Chime Financial Inc. have filed for initial public offerings, setting the stage for other fintechs to follow suit. Stripe Inc. and Plaid Inc. are two other closely watched IPO contenders.
“You can see the fog lifting from the market,” said Matt Streisfeld, general partner at fintech investment firm Oak HC/FT. “As you head into the backend of 2025 and early 2026, you can see public windows open.” While the public market sentiment is more promising, only a handful of private fintech firms are scaled enough that they would be able to confidently weather the transition. Meanwhile, fintech venture funding has slowed to pre-pandemic levels.
Fintech investment dollars FOR startups that don’t want to take the public leap and hit a wall in the private
markets, being acquired by a larger player may be the most appealing path. Last year, personal finance platform MoneyLion Inc. was acquired by Gen Digital Inc. for $1 billion. In 2025, investors are expecting to see similar deals take shape.
“The scale you need to go public— revenue-wise and from a profitability standpoint—it’s not $100 million anymore, it’s multiples of that and many companies aren’t at that point yet,” said Neil Kapur, partner at fintech investment firm TTV Capital. “We anticipate seeing more strategics flushed with cash on their balance sheets coming to market and being more aggressive about making acquisitions.” Meanwhile, for those looking to raise more venture capital, there are signs the clouds may continue to clear. Parafin, a fintech startup run by former Robinhood Markets Inc. employees, last month raised $100 million in a late-stage round that may signal renewed investment in a category that has struggled to navigate the dry-up in VC funding. The financing comes at a $750 million valuation for Parafin, which offers loan products, spend management and savings tools to sellers through marketplaces including Amazon.com, Walmart Marketplace, DoorDash and TikTok Shop. Crypto payments go mainstream ONE month after Donald Trump won the presidential election, Bitcoin passed the $100,000 level for the
ERASED AND FORGOTTEN?
Jan. 6 fades in the Capitol as Trump returns
By Mary Clare Jalonick
The Associated Press
InsIde the Capitol, reminders of the violence are increasingly hard to find.
Scars on the walls have been repaired. Windows and doors broken by the rioters have been replaced. And there is no plaque, display or remembrance of any kind.
Lawmakers rarely mention the attack, and many Republicans try to downplay it, echoing President-elect Donald Trump’s claims that the carnage of that day is overblown and that the rioters are victims.
In some ways, it’s like the insurrection of January 6, 2021, that shook the foundations of American democracy, never happened.
“It’s been erased,” said Sen. Peter Welch, D-Vt. “Winners write history and Trump won. And his version is that it was a peaceful gathering. Obviously completely untrue.”
If Trump pardons rioters, as he has said he will do after taking office January 20, that would be “putting an exclamation point on his version of what happened,” Welch said.
Some of the 1,250 defendants convicted of crimes after January 6 called for the deaths of then-House Speaker Nancy Pelosi, D-Calif., and Mike Pence, who was Trump’s vice president, as the mob violently overran police and breached the building. Some carried weapons, zip ties, chemical irritants, Confederate flags as they ransacked the Capitol and hunted for lawmakers. They sought to stop the certification of Democrat Joe Biden’s win over Trump, echoing the Republican incumbent’s false claims that the election was stolen. But the disruption was only temporary. Congress resumed work that evening and com -
pleted its constitutional role.
Alaska Sen. Lisa Murkowski, one of seven Senate Republicans who voted to convict Trump on impeachment charges after January 6, said “it was a very, very dark time.” Some lawmakers, she said, “do want to really put that behind us.”
There are different reasons for that, however.
Former Republican Sen. Mike Braun, a frequent Trump ally who left Congress this year and was elected Indiana’s governor, said many in the party think the Justice Department “was weaponized disproportionately against” some rioters. He said many lawmakers who were in the Capitol on January 6 want as much distance as possible between then and now.
“I think all of us remember it,” Braun said. But, he added, “If you’re starting to put plaques up, it looks like it even further emphasizes the divide on the issue. And maybe the biggest remedy is just to keep moving forward.”
The plaque that never happened
C ON g R e S S passed a law in March 2022 to require “an honorific plaque listing the names of all of the officers of the United States Capitol Police, the Metropolitan Police Department of the District of Columbia, and other Federal, State, and local law enforcement agencies and protective entities who responded to the violence that occurred at the United States Capitol on January 6, 2021.”
The Architect of the Capitol was ordered to obtain the plaque within a year and permanently place it on the Capitol’s western front, where the worst of the fighting took place.
But almost three years later, there is no plaque. It’s unclear why or who is responsible for it. A spokeswoman for the Architect of the Capitol referred questions to the House Sergeant at Arms, who did not respond to requests for information.
Democratic Senate leader Chuck Schumer of New York and then-Republican Senate leader Mitch McConnell of Kentucky signed
off on the plaque, according to a Senate leadership aide who was familiar with the process but was not authorized to discuss the matter publicly and spoke on condition of anonymity. House Democratic leader Hakeem Jeffries of New York has also been supportive. A spokesman for House Speaker Mike Johnson, R-La., did not respond to requests for comment.
Rep. Zoe Lofgren, D-Calif., who led the House Administration Committee when the law was enacted, wrote Johnson in May to ask why the plaque hadn’t been installed. “If there is a reason for the delay, I look forward to any information you can share to that end and what is being done to address it,” Lofgren said.
She never heard back.
“It’s not just the plaque, although it does mean something to the officers who were there, but the fact that no one cares about them enough to comply with the law and acknowledge the sacrifice that they made for us and for our country,” Lofgren said. “That service to their country, it’s been disrespected.”
New York Rep. Joe Morelle, now the top Democrat on the House Administration Committee, said refusing to display the plaque is part of an effort to “deny January 6 happened and the harm it caused to the US Capitol Police force.”
The officers who were there
Me T ROPOLITAN Police Officer Daniel Hodges, who fought the rioters and was captured on video screaming as they crushed him in a doorway that led to the inauguration stage, said it’s “incredibly offensive” that the plaque hasn’t been installed.
“It’s an incredibly simple thing, but it can mean a lot to so many who fought that day to defend democracy, defend Congress, the vice president and staffers,” he said. He said January 6 has become a political issue. “It shouldn’t be,” he said.
Hodges said he expects to be working on Inauguration Day, one of thousands of police
officers who will be protecting the president and the city on Jan. 20.
Former Capitol Police Sgt. Aquilino g o nell, who retired because of his injuries from fighting rioters near the west front tunnel, said he lost “my career, my health” and even some friends and family in the aftermath of the attack. He and Hodges have been among the few in law enforcement to speak out publicly about their experience.
“Looking back, it’s like it was all for nothing,” said g o nell. “It’s a betrayal.”
He said he wishes the plaque was up on the west front so Trump could see it before he steps on to the inauguration stage in a few weeks.
Trump “could read the names of the officers right before he walks out,” g o nell said. “So he could know that his actions had consequences.”
Shifting Republican narrative I N the days after the siege of the Capitol, Republican condemnation was near-universal.
“Count me out,” Republican Sen. Lindsey g r aham of South Carolina, one of Trump’s top allies, said the night of January 6. ThenHouse Republican leader Kevin McCarthy of California said a week later that Trump “bears responsibility” for the attack.
But McCarthy soon made amends, traveling within weeks to Florida to meet Trump. It was a fateful decision, kicking off Trump’s slow return to power. When Trump returned to Capitol Hill last year during his campaign, Republican lawmakers not only met with him, but they also gave him standing ovations.
Over that time, Republican attitudes toward the Jan. 6 attack have shifted. g OP lawmakers have condemned the work of the Democraticled committee that investigated the riot and fiercely contested its findings. Some Republicans have echoed Trump’s words that the imprisoned rioters are “hostages” who may be worthy of pardons.
Still, the issue may end up being a tricky one for Trump, who has promised pardons on “Day 1.” It’s unclear how many people he in -
tends to pardon or if the most violent offenders would be included.
“If they physically attacked police officers, I don’t think they deserve to be pardoned,” Sen. Markwayne Mullin, R-Okla., one of Trump’s closest allies, said in an CNN interview. “I think they should serve their time.”
‘Confidence in history’
Se N Catherine Cortez Masto, D-Nev., said there are legacies of the attack, even without a plaque hanging on a wall—such as increased security at this year’s certification and Biden’s invitation to Trump to come to the Oval Office after the election, a return to the peaceful transition of power.
“You don’t think people were thinking in the back of their minds, that was different than Jan. 6?” she said. “So it does play out, it is important.” Congress has updated the e l ectoral Count Act, the arcane law that governs the certification of a presidential election, to make it harder for members of Congress to object to the results.
Still, with Trump in power again and many Republicans backing his version of events, Democrats said they worry that a false narrative of January 6 will gain even more strength.
“If you don’t want to remember the history, then the chances of it repeating itself are that much greater,” said Rep. Jim Mc g o vern, D-Mass. “There should be some a moment of silence, or some commemoration. Certainly, there should be a plaque.”
In the days after the insurrection, Rep. Jim Himes, D-Conn., said he believed that they should preserve a broken window as a reminder. But the windows were replaced, reinforced and cleaned up. Little evidence remains of the widespread damage, in the millions of dollars, that the rioters inflicted on the building.
It is “painful” to see attempts to rewrite what happened, Himes said, but he doesn’t think January 6, 2021, will be forgotten.
“I have confidence in history,” Himes said.
In S u R R e C TI o n IS TS loyal to President Donald Trump try to break through a police barrier, Wednesday, January 6, 2021, at the Capitol in Washington. AP/Julio Cortez
Aklan’s piña handloom weaving:
An intangible international treasure
THE Philippine pineapple textile, called the piña, is an epitome of Akeanon traditional craftsmanship and an articulation of native aesthetics. It is a distinct cultural marker for the Philippines and a living heritage that is held in high esteem worldwide.
On December 5, 2023, because of its importance in demonstrating the diversity of cultures and creative expressions of the country as well as of the world, the piña was inscribed on the Unesco Representative List of the Intangible Cultural Heritage (ICH) of Humanity together with 44 other intangible cultural heritage elements from around the world.
“Aklan piña handloom weaving is the fifth intangible cultural heritage [ICH] element from the Philippines to be inscribed in the Unesco ICH lists. The others ICH in the Unesco Representative List of the Intangible Cultural Heritage of Humanity are the hudhud chants of the Ifugao, and the punnuk tug-ofwar, the culmination of the Huwah post-harvest celebration, also of the Ifugao; and the Darangen epic chanting of the Meranaw,” explained journalist, cultural researcher and publication designer Roel Hoang Manipon, who was involved in the Unesco nomination process.
The buklog ritual of the Subanen was inscribed in the separate List of Intangible Cultural Heritage in Need of Urgent Safeguarding. On the other hand, NCCA’s flagship program of transmitting traditional knowledge and skill, the School of Living Traditions, was selected to be included in the Register of Good Safeguarding Practices.
FROM PINYA BISAYA TO PIÑA FASHION PIÑA weaving emerged during the Spanish colonial period (1565 to 1898). Today, it is still alive in Aklan municipalities—Altavas, Balete, Banga, Batan, Buruanga, Kalibo, Lezo, Libacao, Madalag, Makato, Malay, Malinao, Nabas, Numancia, and Tangalan. Historically, production was concentrated in the barangays of Old Buswang and New Buswang in Kalibo, but the practice has since spread to the provinces of Antique, Capiz, Leyte, Camarines Sur, and Palawan.
It is considered as a family and community heritage, with the knowledge and skill being passed on in traditional ways and through assistance from the School of Living Traditions of the National Commission for Culture and the Arts, and the Philippine Fiber Industry Development Authority. According to the exhaustive research by Manipon, the production of the piña starts with the cultivation of the Red Spanish pineapple cultivar, locally called pinya Bisaya: After 18 to 24 months, the leaves of the pineapple plants are deemed mature enough to be harvested. Fibers are then extracted from the leaves. Using a
EVERYONE in the beauty scene—in the Philippines at least—was talking about GRWM Cosmetics’ massive Face Card launch following the launch in early December, which introduced us to the brand’s idea of customization.
Basically, GRWM launched two sizes of customizable palettes, one with four big magnetic slots for blushes and face bases (16 if you’re going to put eyeshadows, and another one with one magnetic slot for one blush or one face base (four if you’re going to put eyeshadows).
I was a fan of GRWM’s Face Goals palettes because I love the pale shades of blush. However, I didn’t like how the palette made the products pop out. I loved the blushes so much that I taped them to the palette so that they wouldn’t pop out.
Thus, I was so happy when they announced the
After several more steps, the fibers are then ready for weaving. The weavers usually work at home, on a wooded upright pedal loom with two or four footoperated bamboo treadles in a space in the house designated for weaving. The common patterns used are the ringgue (lace weave), pili (inlaid weave), and tablero (checkered pattern), or a combination of these.
“Highly prized because of its beauty and the tedious process to make it, the piña is used as prime material in formal attire such as the terno and the barong Tagalog as well as in finery and other objects, often embroidered or painted on, becoming a vessel for another creative expression. Piña products are often passed on as heirloom pieces,” Manipon noted.
HABOE NGA PIÑA
CONTINUING its cherished tradition of making
new Face Card palettes, which feel so premium and heavy.
The release came with 238 pieces, each designed to mix and match so you can create a Face Card palette that’s all about you. There were Multiuse Color Complexion Creams (which can be used as foundation or concealers), blushes in different textures, color correctors, eyeshadows, bronzers, highlighters, and so many others. For the eyeshadows alone, there were different textures and finishes.
The brand’s founder and CEO Mae Layug showed her YouTube content creator roots with Shadowplay, eyeshadows in Velvet Matte, Colorplay Velvet Matte (in vibrant colors), Frost, Metallic, and Topper. There are also four Color Lock Eyeshadow Boosters.
So far, I have used the Velvet Matte eyeshadows and a topper. The mattes are very pigmented and easily blend while the topper is quite good. As a beauty nerd, I know that toppers are not inexpensive to manufacture so thank you, GRWM, for giving us this without attaching a hefty price tag. Are these comparable to high-end eyeshadows? I would honestly say generally yes. Many of the colors go on smoothly. Some don’t and aren’t quite as pigmented but that is expected in a collection of this size. The GRWM eyeshadow collection is solid and something that anyone, from a student just starting out with makeup to a professional makeup artist, can work with. I know that Mae worked with professional makeup artists in developing the eyeshadows and
naturalized,” said Manipon.
A second factor is the communities’ and culture bearers’ intention to be inscribed in the Unesco list. Another important factor is there are concrete measures being developed to safeguard the practice.
These safeguarding duties are collaborations among the communities, the local government, non-government organizations and cultural groups, and the national government through the NCCA and other cultural agencies. In fact, the NCCA has been supporting a School of Living Traditions on piña weaving in Balete, Aklan, for several years now.
Piña weaving is limited to a small area, thus it is easier to document the extent and status of the practice, as well as to implement safeguarding measures and projects.
“A wide range of people and workers—farmers, scrapers, knotters, warpers, weavers and also traders and designers—are bound together by piña textile making, a livelihood passed on to younger members of the communities, nurturing a sense of belonging, mutual respect and interdependence among practitioners and bearers,” added Manipon.
“All workers and stakeholders were involved and encouraged to be involved in the [Unesco list] nomination process. The culture bearers and practitioners were on the forefront of the efforts. The designers involved were local designers who are part of the weaving communities—the weavers who created the textile patterns, the local embroiderers, etc.,” Manipon said. “Fashion designers come from the local communities such as Anna India Legaspi, who paint-designs on piña textile, and the son of master weaver Raquel Eliserio, Carlo Eliserio.” n
Highlighted in the calendar are the different steps and stages in making the piña textile—from cultivating the pineapples and extracting the fibers to weaving the fine threads using the handloom and transmitting the knowledge and skills within the community. The photographs are by Gerald Marcfred Dillera and the texts are by Manipon, who also conceptualized and designed the calendar.
“The alignment of several factors led to the nomination of the practice of piña weaving to the Unesco Representative List of the Intangible Cultural Heritage of Humanity. First, the practice and its products are of cultural importance to the country. The textile is nationally recognized and highly regarded, despite piña weaving being the most recently developed textile-making craft in the country, emerging only during the Spanish colonial period and using an introduced plant that has become
it took them two years to perfect them according to their specifications.
I would say that GRWM is quite brave for putting out such an extensive eyeshadow selection, especially the colorful shades, but last I looked they were doing
well online and in their physical stores so the risk the brand took was worth it.
Aside from the eyeshadows, I also tried the Multiuse Color Complexion Cream, which comes in 12 shades. The range of shades is actually pretty good although I wish there was a shade in between Apricot and Camel. I guess no brand would release 13 shades. My shade is sandstone. I have used this complexion cream both as a concealer and foundation and I like it for these purposes. If you wear it as foundation, make sure your skin is well-prepped because the finish is matte. As a concealer, it’s great although I still love GRWM’s Multiuse Tints. Because the finish is matte, the complexion cream lasts about 6-8 hours with minimal retouching. The coverage is light medium to medium. I also like the Multiuse Color Correcting Cream, which comes in seven shades. I use Tangelo and Marmalade. I use a flat concealer brush to apply this as a second step to my makeup (after brow gel) and the coverage is medium but buildable.
Another favorite is the Mochi Blush, a cream-topowder formula. My preferred shades are Teddy and Breakfast in Bed. Teddy, according to makeup artist Raffy So, is a dupe for Rhode’s Toasted Teddy. What I like about the GRWM Face Card, aside from it being handy for travel, is you get to choose what to put in your palette. There are no shades left unused or barely used. This is consistent with GRWM’s advocacy for beauty to be more sustainable.
PhilHealth benefit for heart disease up by over 15-fold
AS Filipinos celebrate the holiday season, the Department of Health (DOH) recently called on people to prioritize their well-being by practicing moderation in their food intake and maintaining an active lifestyle. This is particularly important given that cardiovascular diseases, specifically ischemic heart disease (IHD), remain the leading cause of death in the Philippines.
To provide expanded financial coverage associated with heart disease treatment, the Philippine Health Insurance Corporation (PhilHealth) significantly increased its benefits coverage for Ischemic Heart Disease-Acute Myocardial Infarction (IHD-AMI) or “heart attack” for all inpatient admissions effective December 21, 2024.
PhilHealth Circular No. 2024-0032 published on the same date provides coverage for (1) Percutaneous Coronary Intervention (PCI) at P524,000 from P30,300, an increase of 1,629 percent; (2) Fibrinolysis at P133,500 from P30,290 or a 900% increase; (3) Emergency Medical Services with Coordinated Referral and Interfacility Transfer at P21,900; and (4) Cardiac Rehabilitation after PCI at P66,140.
The expanded PhilHealth benefits packages for heart attack ensure that patients receive timely medical treatment by including emergency medical transport
IN a landmark partnership for sports development, Muntinlupa City Mayor
Ruffy Biazon and volleyball icon Alyssa Valdez formalized a Memorandum of Agreement (MoA) recently between the City Government of Muntinlupa and AV360 to launch a grassroots volleyball program aimed at nurturing young athletes and instilling values through sports.
The initiative, facilitated by 1Munti, underscores Muntinlupa City’s commitment to championing children’s welfare through sports as a crucial pillar of youth development. The volleyball program is set to provide training camps for aspiring athletes, fostering not only athletic excellence but also character and values formation among the youth.
“We believe in starting them young,” said Biazon in his speech during the signing ceremony. “Sports is not just about competition or entertainment—it’s a powerful tool for development, shaping our children’s potential while promoting health, discipline, and community spirit.”
The volleyball camp, led by Valdez and her team at AV360, will provide specialized training and mentorship for young Muntinlupeño athletes.
Atty. Jojay Alcaraz of 1Munti
services to a capable health facility and all the medical interventions needed to ensure survival and good patient outcomes.
“We understand the significant financial burden that heart disease can place on families,” said PhilHealth President and Chief Executive Officer Emmanuel R. Ledesma, Jr. “We have listened to the patients and their families, and with the cooperation of our partner health facilities, we have been able to determine the prevailing costs that led us to adjust and substantially increase our financial support in these life-saving treatments,” he added.
The enhanced heart packages support a comprehensive range of services that include emergency medical services, medicines, laboratory and diagnostic tests, medical supplies, use of equipment, and pertinent administrative fees. In the case of percutaneous coronary intervention, the procedure can be availed of at any of
the 70 accredited Cath Labs nationwide.
The PhilHealth Chief reminded the members that there should be no co-payment for inpatient admissions in basic or ward accommodations in both public and private health facilities nationwide.
“But we should not forget, heart ailments can be prevented. To support our members in their journey towards better health especially in the coming new year, we encourage everyone to avail of our primary care benefits under Konsulta,” urged Ledesma, specifying consultations with primary care physician, laboratory tests for early detection as well as medicines to support those that already have heart conditions, all for free.
“Through the Konsulta, we can identify potential health risks early on, including family history of heart disease, allowing for timely interventions such as medication for cholesterol management and lifestyle advice, to prevent or mitigate the development of heart disease,”.
He asked Filipinos to register to their Konsulta provider of choice at any of the local health insurance offices nationwide or through their own account in the PhilHealth Member Portal.
By embracing a healthy lifestyle and by utilizing the Konsulta, Filipinos can better protect themselves from heart diseases for a healthier and productive future, he added.
MUNTINLUPA City Mayor Ruffy Biazon, Atty. Jojay Alcaraz of 1Munti, and volleyball star Alyssa Valdez sign a memorandum of agreement to launch a grassroots volleyball program for the youth.
emphasized the significance of grassroots sports development as a cornerstone of the organization’s advocacy.
“1Munti has always believed that every Batang Juan deserves the opportunity to discover their full potential through sports,” Alcaraz said. “This partnership is about more than just athletic training; it’s about providing a platform where young athletes can learn values like teamwork, discipline, and perseverance, which will serve them throughout life.”
Biazon also thanked key partners, including AV360’s Jem Lim and Carla Dado, as well as the City’s Youth Affairs and Sports Development Office led by Cynthia Viacrusis, for their dedication to making the program a reality.
The grassroots volleyball program is set to kick off in early 2025, promising a new era of sports excellence and youth empowerment in Muntinlupa.
Cetaphil Baby Hosts Exclusive Workshop for First-Time Moms
AS a trusted companion for firsttime moms, Cetaphil Baby recently held an intimate and educational event aimed at building healthy baby skin habits through a soothing bedtime routine.
This unique gathering, in partnership with Momzilla, took place at Chef Jessie’s, where first-time mothers were given a safe and interactive space to learn, share, and gain insights from medical experts and experienced moms.
Themed “Healthy Habits: Cetaphil Baby’s Night-Time Routine Workshop,” the event emphasized the importance of a consistent bedtime routine for babies. Participants were introduced to the benefits of practices like a warm bath before sleep, a proven way to help little ones relax, refresh, and prepare for a restful night’s sleep, with the aid of Cetaphil’s soothing and gentle products, like the Organic Calendula line.
These habits not only promote better sleep but also establish the foundation
for lifelong healthy skin care practices.
The workshop was designed to empower moms with insights from a medical expert on baby skin care essentials, from understanding ingredients to managing newborn skin concerns. Guest Pediatric Dermatologist shared, “it is better to be preventive than reactive.” She added “in cases of diaper rash, do not wait for the irritation to appear in baby’s skin to apply your diaper cream but rather apply it every time you change your babies’ diapers to form a barrier in baby’s skin.”
Cetaphil Baby Ambassador Andi Manzano
SM Foundation turns over rehabilitated Krus na Ligas health center to QC govt
BARANGAY health centers are mandated to provide basic healthcare to residents of the barangay. These health centers are located throughout the country and serve as the cornerstone of the public health system, ensuring accessible and quality healthcare to communities.
In Quezon City, one of the barangay health centers is the Krus na Ligas Health Center located along Lt. J. Francisco St. in Barangay Krus na Ligas. It is under the Quezon City Health Department and serves residents of Barangay Krus na Ligas, UP Campus and Teachers’ Village West translating into 73,647 residents.
Among the services being provided at the health center are medical consultation, dental consultation, maternal and child health care, National Immunization Program, family planning services, National Tuberculosis Program, environmental sanitation, laboratory services, monitoring and tracking of communicable diseases.
The Quezon City Health Department seeks to provide citizens with innovative, technology-driven, hybrid health services through a public-private alliance, a functional service delivery network, and sustainable financing policies and resources.
To achieve this, the city government has partnered with the private sector. One of its partners is SM Foundation, the CSR arm of the SM Group.
Recently, SM Foundation turned over a retrofitted Krus na Ligas Health Center to the city government of Quezon led by Mayor Joy Belmonte after just 13 weeks of rehabilitation work.
SM Foundation undertook a comprehensive overhaul of the health center. Its layout and design were updated. It
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shared personal tips and advice on creating bedtime routines and integrating Cetaphil Baby products into their babies’ wellness habits. Andi highlighted “what worked for me was to turn skincare into play, specifically during bath time that helped positivized and eventually instill healthy skin habits for my daughters” Guests enjoyed a holistic learning experience, blending expert guidance with real-world advice, making it a memorable and valuable session.
Cetaphil Baby remains committed to supporting moms and their little ones by providing gentle, dermatologically tested products tailored to sensitive baby skin. Galderma Business Unit Head, Mark Sarmiento, reiterated “with events like this, Cetaphil Baby continues to support first-time moms in their motherhood journey and create opportunities for moms to connect, learn, and grow as caregivers, one gentle moment at a time.”
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was also provided with new medical tools and equipment.
The SM Foundation team ensured the rehabilitation works adhere to DOH standards and incompliance with the Quezon City Health Department’s initiative to upgrade the center’s status into a Primary Care Facility by January 2025. Aside from gaining PhilHealth accreditation, the improvement of the center aims to provide a consistent level of care while continuously improving on its practices and services.
Aligning with the #SMGreenMovement and Quezon City LGU’s Green Initiative, sustainable solutions were integrated in the center’s physical infrastructure. A rainwater catchment system was installed as an additional water source for handwashing and other needs of the facility; energy-efficient LED lighting fixtures were installed and inverter appliances were provided to help reduce its ecological footprint; and air-cleaning paints were utilized to further promote a healthier environment. With the renovation and refurbishment, the health center now boasts of a dedicated breastfeeding area, reception area, lounge for the elderly and pregnant patients, children’s play area, pharmacy, dental clinic, and a Teen Hub, a safe space for the adolescents dedicated to providing guidance and counselling in a safe and supportive environment.
An Emergency Shower and Eyewash Station was also installed by SM Foundation to provide on-the-spot decontamination to flush hazardous products from patients during emergencies.
The Krus na Ligas Health Center brings the number of SM Foundation’s wellness center to 214.
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Muntinlupa City signs MOA with Alyssa Valdez for grassroots volleyball program
IN the photo are, from left, Dr. James Ruel Demetrio, Dr. Mike Lawrence Panaligan, Dr. Ramona Asuncion DG. Abarquez, OIC/Medical Officer V, Quezon City Health Department; SM Foundation Executive Director for Health and Medical Programs Connie Angeles, Quezon City Mayor Joy Belmonte, Barangay Captain Reniel John C. Perdido, Dr. Maricel Wong, and SM North EDSA Mall Manager Jocelyn Clarino.
From a Tech COO: PR, AI and Tech in 2025
AVERY Happy New Year! As 2025 begins, savvy and seasoned PRs will again be doing environmental scans to proactively spot potential issues (hopefully not crises), red flags, trends, and all that jazz, to prepare for any contingency in the m onths ahead.
We will start the year with precisely that scan of what 2025 might be like, this time, from a tech C-suite point of view.
Our resource person has defined and pioneered digital in the Ph ilippines. A multi-awarded, true blue techy, business leader and COO, a renaissance man if I may say, who respects the pulse of stakeholders while reading and sifting through the data.
His credentials
B UT f irst a look at Dr. Donald Patrick Lim, the President and COO of DCME Holdings Inc., a publicly-listed Philippine company that owns DITO, the country’s third telecommunications p rovider.
“Donald has been at the forefront of leading digital transformation initiatives in various c ompanies through his previous roles as Chief Digital Officer of AB s - CBN and as Country CEO of Dentsu Philippines.
He is the founder of three industry organizations, the: n Internet and Mobile Marketing Association of the Philippines (IMMAP); n Creator and Influencer Council of the Philippines (CICP); and most recently, n Blockchain Council of the Philippines as its founding chair. He will soon be establishing the Cybersecurity Council.
Donald is the founding trustee and president of the Global AI C ouncil and president of the Go Digital Philippines movement, an initiative under the Philippine President. He continues to be on the Board of the Institute of Corporate Directors (ICD), and is an a dviser of CICP and IMMAP. He was Governor and Vice President of the Management Association of the Philippines (MAP). His leadership has been recognized by numerous organizations, including being the first re cipient of The Outstanding Young Men (TOYM) award for community building in digital by the Junior Chamber, the Agora Awards by the Philippine Marketing Association, and the DMN 4 0 Under 40 Award in New York, where he remains the first and only Filipino winner.
Donald is also an academic, having served as a professor of Digital Marketing, st rategic Management, and Entrepreneurship at seven local and international universities, including at t he doctoral level, over the past 14 years. He is deeply involved in community work, currently serving as president of Operation s m ile Philippines and as the Group Commander of the Philippine Air Force with the rank of L ieutenant Colonel.” (https://iab -
cfusionconference.com/speakers/)
Our first meeting & his international talk M AN Y t hanks to PR friend, Jojo Ajero, who first introduced Donald some years back, who graciously accepted to speak at the Digital PR s e minar s e ries we were organizing at that time. It was in 2012 when he was invited to speak at a prestigious World Conference in Chicago. I was at his session where he kept an international crowd riveted to their seats from start to finish, as he discussed brand health and the formula he formulated to measure it.
The talk, among so many, earned him, the only Filipino in the speaker roster that year, a rating that landed in the top five sessions of that conference attended by around 1,000 delegates from different countries. T hrough all the accolades, he continues to be unassuming, ready to share his knowledge. s o thank you, Donald, for sharing your thoughts here in PR Matters.
As a technology leader YOU h ave a well-rounded and very diverse background. How do all these add up to your technology leadership self? As a doctoral p rogram professor, as a COO, as a tech guru, etc.?
DONALD: We are seeing a rapid shift in business as the industrial age transitions towards t he digital era. It is now impossible to separate technology from b usiness. There was a time when technology was just the responsibility of the IT department, but t hose days are long gone. Today, every business is a digital business, no matter the industry. Because of that, anyone in a leadership role, whether y ou’re a CEO, a manager, or a professional in any field needs to understand technology. That doesn’t mean one needs to know how to code or become a programmer, but it is important that all of us need to understand how technology impacts business. One should be able to explain, at least in clear terms, how technology can help drive growth, improve efficiency, bring in new customers, and, ultimately, make the business more successful.
In my case, my experiences as a professor, a COO, and a tech enthusiast all tie together well as I see through and integrate the three lenses.
n Teaching in a doctoral program allows me to mentor and l earn from people at the forefront of innovation.
n Running a business gives me a hands-on perspective on how technology affects strategy and execution.
n And as someone who’s passionate about tech, I make it a p oint to stay informed about emerging trends and how they can transform industries. I firmly believe that every company today is a tech company at its core. A s a leader, you have to embrace
that and take ownership of the technology side of your business, even if it’s not your background. It’s the only way to stay relevant and competitive in a world where everything is becoming digital. What lies ahead for PR in 2025
As a true-blue and pioneering tech guru, former advertising and media head honcho, and COO, what do you see shaping up for PR in 2025?
DONALD: We’re seeing a massive shift in how PR works today. T he old days of relying solely on the “three kings,” radio, print, and broadcast are over. Broadcast media itself has evolved into something much more targeted and precise.
n Running a business gives me a hands-on perspective on how technology affects strategy and execution.
n And as someone who’s passionate about tech, I make it a point t o stay informed about emerging trends and how they can transform industries.
I firmly believe that every company today is a tech company at its core. As a leader, you have to embrace that and take ownership of the technology side of your business, even if it’s not your background. It’s the only way to stay relevant and competitive in a world where everything is becoming digital.
R ight now, we’re living in an age of hyper-personalization and hyper-targeting. If you’re trying to reach your audience, traditional platforms like TV, print, or radio might not always be the best route anymore. Digital platforms like Facebook, TikTok, and others have become the go-to spaces for engaging people effectively.
P R has to adapt to this new digital world. Data is at the center of e verything now. It’s no longer just about storytelling; it’s about using data to drive strategies and ensure you’re reaching the right people with the right message. And things are moving so much faster than before. With tools like AI, what used t o take an entire day, like writing articles or creating content can now be done in minutes. For PR professionals, it’s no longer optional to understand how to use AI.
W hether it’s writing copy, designing visuals, or producing creative content, AI is becoming an essential tool of the trade.
A nother major trend is the rise of micro- and nano-influencers. The days of big celebrities being the centerpiece of campaigns are fading. Now, it’s all about smaller influencers with a highly engaged audience. These influencers are more relatable and can communicate messages in a way that feels a uthentic and personal to their followers. They’re more efficient, more focused, and often deliver
better results than traditional celebrity endorsements.
I n short, PR in 2025 will be all about data, speed, hyper-targeting, and embracing new tools like AI, while also recognizing the power of smaller, niche influencers.
T hese changes aren’t just trends, they’re already shaping the way we do things, and any PR professional who wants to stay relevant needs to keep up.
WHAT TO PREPARE FOR
What should we prepare for?
What occurrences do you see influencing PR in 2025, whether positively or negatively?
D ONALD: Let’s start with the negatives because they are quite critical to address.
With the rise of AI, ethical concerns are bound to surface.
n It’s now incredibly easy to use AI to write articles or create images, which raises important questions about attribution. Who is the real author or creator of this content? This uncertainty could lead to ethical dilemmas that PR professionals must navigate.
n Another major concern is deepfakes. AI makes it possible to craft highly realistic yet completely fabricated videos, which could be used to spread misleading information. Think about the implications: s omeone could create a deepfake video of a public figure saying or doing something they never did, and it could be distributed widely before anyone can verify its authenticity. This kind of misuse could be devastating.
N ow, on the positive side, AI is transforming PR in ways that can’t be ignored.
n Content creation and strategy are becoming faster and more efficient than ever. While we used to s ay “content is king,” today, speed is king. The ability to quickly produce high-quality, relevant content has become essential, particularly during crises.
n For example, if trolls are targeting your brand, you need a fasta cting team to respond. s o cial listening becomes a vital tool in these s ituations. By monitoring conversations online, analyzing data, and re sponding quickly, you can protect your reputation and craft effective defense strategies.
Heading into 2025, I see speed and agility as the defining factors for PR. Media trolls and misinformation will continue to be challenges, so PR professionals need t o master tools like AI and social listening, not just to keep up, but to stay ahead.
It’s about understanding what’s happening in real-time and knowing exactly how to react. The faster a nd more strategically you can move, the better equipped you’ll be to handle the challenges.
PR strengths to see us through What strengths do PRs have that will see them through developments/upheavals?
n PR professionals must be naturally inquisitive, always learning, a nd unafraid of technology. They need to experiment continuously, engage in conversations, and learn from one another.
n PR is inherently a communitydriven field, and those who work in it must recognize this. Just as there is a concept of “AI for good,” there is a need for “PR for good.” However, PR is likely to face challenges, including a darker, more manipulative ph ase, especially during upcoming elections.
n PR can shape how people see the world, themselves, and each other. While it can be used negatively to manipulate or distort, it a lso has the power to drive positive change. To use it ethically, PR professionals must follow standards, m aster tools like social media listening and data management, and a pply them responsibly.
n Looking ahead to 2025, the focus will be on how PR is used, either f or good or harm. As advertising has transformed significantly, PR will also see major changes, with an almost total reliance on technology. PR professionals must adapt quickly, embrace technological advances, and understand the real-world c hallenges and objectives they face throughout their careers.
Skill sets to acquire What skill sets do PRs have to shape up on?
n It’s basic but very crucial for PR professionals to understand social media as it plays a massive role i n the industry. s k ills like using social media tools, conducting social me dia listening, and analyzing data are no longer optional as they’re becoming standard. It’s no longer viable to rely on a social media agency t o handle analysis and then wait for their input. By the time you react, it could be too late. Every PR practitioner must develop hands-on expertise with social media tools and u se them proactively.
n AI is another area where PR professionals must upskill quickly. The adoption of AI is happening at a rapid and aggressive pace. By 2025, those who don’t know how to leverage AI for writing, content creation, and other creative t asks risk being left behind. s t aying competitive means embracing t hese tools now. At the same time, understanding and using traditional platforms is still important.
K nowing when and how to integrate them into campaigns remains a c ritical skill.
n Relationships with micro-influencers have also become important. In the past, PR professionals
c ould manage with a list of 20 key contacts, such as writers, journalists, or broadcasters. Now, however, t he landscape has shifted.
PR campaigns increasingly require working with a network of 100 or even 200 micro-influencers who can help amplify messages. These connections are equally critical for handling negative situations or d efending against attacks.
n In the end, PR remains a relationship-driven business. Building a nd maintaining strong relationships, whether with influencers, j ournalists, or other stakeholders has never been more important.
Advice for PRs in 2025
What advice would you have for both incoming and veteran PRs for 2025?
1. Embrace and Master Emerging Technologies
n st ay updated on AI, blockchain, and analytics tools that enhance PR strategies.
n Invest time in learning how to use platforms for sentiment analysis, predictive modeling, and immersive storytelling through AR/ VR.
2. Leverage Data for Targeted Campaigns
n Use AI-powered insights to craft hyper-personalized messages tailored to specific audience segments.
n Continuously analyze data to refine strategies and demonstrate return on investment (ROI) for PR activities.
3. Be Proactive in Crisis Management
n Develop a strong digital monitoring system for real-time insights o n brand sentiment.
n Have AI-driven crisis management tools ready to address potential issues swiftly and effectively.
n Use real-time feedback and analytics to iterate and optimize PR strategies.
4.Enhance Storytelling with Multimedia
n Invest in creating visually engaging content, including videos, infographics, and interactive f ormats.
n Monitor digital trends closely to adapt campaigns quickly to changing environments.
5. Build Long-Term Relationships with Stakeholders
n Leverage digital tools to maintain consistent communication with me dia, influencers, and audiences.
n Focus on creating meaningful partnerships rather than shortt erm transactional engagements.
To hear more from Dr. Donald Lim, he will be a Philippine speaker at the Fusion 2025 regional conference of the International Association of Business Communicators A sia Pacific (IABC APAC) on March 17 and 18, 2025 at EDSA Shangri-la Hotel. Registration is ongoing. See you there! https://iabcfusionconference.com/ PR Matters is a roundtable
D R . D O n ALD PATRIC k L I M at a recent talk delivered for Philippine Blockchain Week where he traced the evolution of the World Wide Web and how much user engagement has changed in each stage: Web 1.0—the first generation of the World Wide Web, mostly static, read only, writing, with limited interaction; Web 2.0—more dynamic and participative with more user and end-user interaction, social media, user-generated content; and Web 3.0—more decentralized and personalized, uses technologies like AI and blockchain, with enhanced user privacy.
Sports
SBG reaffirms significant focus on grassroots
ENATOR Christopher “Bong”
SGo reaffirmed his advocacy for strengthening grassroots sports programs and supporting Filipino athletes through government funding and initiatives.
Go , who chairs the Committees on Sports and on Youth, said efforts have been pivotal in securing financial support for athletes and promoting community-based sports activities, which continue to benefit Filipinos nationwide.
Hi ghlighting the 2025 budget allocation for the Philippine Sports Commission (PSC), Go underscored the importance of investing in athletes’ development, not just for competition but for nation-building.
“ We must support the youth and kids who love sports,” he said, adding “this is not only for the honor of the country, but also for the health and unity of the community.”
Through Go’s consistent efforts, the PSC allocated funds to promote community sports tournaments and activities, ensuring that aspiring athletes from various sectors have access to opportunities and resources.
T hese initiatives aim to create an environment where sports serve as a tool for health, discipline and camaraderie.
“Through sports, we give hope for the youth to accomplish their dreams and goals, and at the same time they become responsible citizens,” Go said. Beyond budgetary measures, Go was instrumental in creating the National Academy of Sports (NAS) through Republic Act No. 11470, which he coauthored and sponsored.
Located in New Clark City in Capas, Tarlac, the NAS offers a unique blend of secondary education and a sportsfocused curriculum, providing studentathletes with the foundation they need to excel in academics and sports. Go h as been a key advocate for the repair and improvement of major sports facilities, such as the Rizal Memorial Coliseum in Manila and the PhilSports Arena in Pasig City. Go said that world-class infrastructure, combined with comprehensive athlete support, can elevate Filipino athletes’ performances on the global stage.
By Aldrin Quinto
ANGELO QUE , the lone player to win The Country Club (TCC) Invitational in consecutive years, looks to become the first to claim four titles.
The International Container Terminal Services Inc. (ICTSI) TCC Invitational holds its 20th edition starting on January 28 in Santa Rosa, Laguna, with Que once more among the top favorites. Que bagged his first TCC Invitational crown in 2007 before annexing the 2010 and 2011 titles.
Philippine-based Dutchman Guido van der Valk also topped the event on back-to-back stagings, but those were two years apart—2020 and 2023—because the tournament went on a hiatus.
A win by Que will also break the tie for most titles won, as he currently shares the top spot with Japan-based Juvic Pagunsan.
A lthough it has been over a decade since his last TCC win, the 46-yearold Que remains one of the players to watch especially after a solid 2024 Philippine Golf Tour season.
Q ue joined the elite list of players who have won both the Philippine Open and the Philippine Masters when he ruled the 2024 Villamor Philippine Masters. Victory in the Villamor Philippine Masters put Que’s name among elite players who have won the country’s Open and Masters double. That win along with seven top 10 places including
HE national women’s futsal team formally opened its training camp last Saturday despite the unceremonious transfer of its coach, Vic hermans, to the men’s team during the holidays.
Pinay5—as the girls are called— team manager Daniel Moran said they pushed through with their four-day training camp at the Tuloy sa Don Bosco Foundation in Muntinlupa City to show the players that they are committed to their goal of representing the country in the FIFA Futsal Women’s World Cup that
IQue eyes record 4th crown at TCC
three runner-up finishes, put Que in second spot in the Order of Merit.
“I think my chances are good. I’ve been preparing for it,” Que said.
It won’t be easy, though, with the 7,652-yard TCC course a tough challenge for the best of the best.
The prologue to the Philippine Golf Tour (PGT) season, the 72-hole TCC Invitational will have defending champion Tony Lascuna, who also won at Splendido Taal on the way to a record fifth Order of Merit title.
Also gunning for the top prize of P2 million from the P6 million purse are Reymon Jaraula, Keanu Jahns, Rupert Zaragosa, Clyde Mondilla, Sean Ramos, Jhonnel Ababa, Van der Valk and Zanieboy Gialon, who wound up in the top 10 of the last PGT season.
Lloyd Jefferson Go is also looking to add to his first pro win at Palos Verdes. Ababa won at Apo Golf in Davao, Mondilla ruled the Caliraya Springs Championship in Cavinti, while Ramos claimed his maiden pro title in the Lakewood Championships in
Cabanatuan City before recently earned his playing card in the Asian Tour. Jahns won the Forest Hills Championship in Antipolo, Gialon topped the Iloilo Golf Challenge, Jaraula ruled the Bacolod Golf Challenge and Zaragosa emerged winner in the rain-shortened Negros Occidental Classic.
Founded by ICTSI chairman and CEO Ricky Razon to honor his father, Don Pocholo, the TCC Invitational is a true test of skill and character. This year’s pro-am segment kicks off on Jan. 27, pairing select professionals with guest amateurs in the run-up to the main event.
Also expected to join the battle for the crown are Hyun Ho Rho, Michael Bibat, Aidric Chan, Ira Alido, Ryan Monsalve, Russel Bautista and Kakeru Ozeki.
Others in the mix include Randy Garalde, Nilo Salahog, Art Arbole, Jay Bayron, Daiya Suzuki, Collin Wheeler, Dino Villanueva, Albin Engino, Tae Soo Kim, Minwook Gwon, Fidel Concepcion and Francis Morilla.
Women’s futsal team opens camp despite controversy
the country will host this November.
Twelve of the 14 players showed up led by team captain Isabella Bandoja, who earlier expressed her intention to resign from the national team if the Philippine Football Federation (PFF) replaces Hermans.
Also staying with the Pinay5 are Agot Danton, Jada Louise Bicierro, Erissa Rivas, Kaycee Nañola, Joanna Vega, Angelica Teves, Lanie Ortillo, Louraine Evangelista, Mykaella Abeto, Demely Rollon and Althea Rebosura.
Moran said they are pushing through with the program not to defy the PFF,
Futsal just broke my heart
IN a few days’ time, the Philippine Women’s Futsal Team will fly to Uzbekistan for the Asian Football Confederation (AFC) Qualifiers for the 2025 FIFA Women’s Futsal World Cup that will take place in Manila later this year.
Exciting isn’t it?
Sure. Except for the fact that I personally feel bad that some of the folks behind the futsal program in the last several years are not going to be a part of this AFC Qualifiers. And the World Cup.
In a nutshell, erstwhile coach Vic Hermans is out and most likely national team manager Danny Moran after they did not agree to the Philippine Football Federation’s (PFF) request to add four players outside the national pool to the Uzbekistan games and to conduct as training camp in the middle of the holiday season.
The administration also felt the results of the Asean Football Federation (AFF) Women’s Futsal Championship held in Manila where the team placed last or could have performed better was another factor in the PFF’s requests.
Vic and Danny agreed to include them after not before the qualifiers because there is already an existing team that had been preparing for this. They agreed to inspect these
Jbut to recognize the hard work and the sacrifices that the player put in just to gain a once in a lifetime opportunity to vie for a spot in the team that will compete against the best futsal players in the world.
“The girls sacrificed years of commitment. We can’t let them down. We will fight for them,” said Moran, chairman of The Henry V. Moran Foundation, an organization that sponsors countless football players from the marginalized sector.
We remain committed to nurturing the futsal players who have dedicated
By Josef Ramos
immense sacrifice and effort to their growth and future,” Moran said. “These players are true patriots and they will not only represent our nation with pride but will also inspire countless grassroots children as role models.”
Former PFF president Mariano
“Nonong” Araneta also rallied behind the Pinay5, saying that Moran and Hermans have made a lot of sacrifices to build the program from ground up.
We recognize the hard work and sacrifices that The Henry V. Moran Foundation had put in for the development of futsal in the country,” said Araneta, who is also a member of the powerful International Football Federation (FIFA) Council.
T was a year like no other for the Gymnastics Association of the Philippines (GAP).
The 62-year-old federation was responsible for giving the country an extremely memorable 2024 behind the first-ever double gold medals Carlos Yulo won at the Paris 2024 Olympics. The 24-year-old gymnast from Leveriza in Manila won the men’s vault and floor exercise for the Philippines’ historic feat in a single Olympic participation.
P hilippine gymnastics in Paris though, didn’t only end with Yulo’s golden feat. History was made when the stunning trio of Aleah Finnegan, Emma Malabuyo, and Levi Jung-Ruivivar also represented the country in the 33rd edition of the Summer Games.
It marked the first time in 60 years of Philippine participation in Olympic gymnasts that multiple athletes qualified for the tough sport since Evelyn Magluyan and Maria Luisa Floro wore the country’s tcolors in Tokyo 1964.
For a remarkable 2024 that saw its years of nurturing talent finally bore fruit, the GAP is the hands down choice as the National Sports Association of the Year in the San Miguel Corp.-Philippine Sportswriters Association (SMC-PSA) Awards Night at the grand ballroom of the Manila Hotel.
Together with GAP, Yulo takes centerstage in the January 27 gala copresented by ArenaPlus, MediaQuest and Cignal as the well-deserved Athlete of the Year.
This is the first time the gymnastics association under the care of its president. Cynthia Carrion-Norton, is being recognized as NSA of the Year by the oldest media organization in the Philippines first established in 1949 and currently headed by The Philippine Star sports editor Nelson Beltran.
Previous recipients of the award were the Samahang Weightlifting ng Pilipinas, Samahang Basketbol ng Pilipinas, Association of Boxing Alliances in the Philippines, Jiu Jitsu Federation of the Philippines, Philippine Athletics Track and Field Association and Philippine Taekwondo Association.
The traditional Awards Night has the Philippine Sports Commission, Philippine Olympic Committee, PLDT/ Smart, Senator Christopher “Bong” Go, Milo and Januarius Holdings as major sponsors and supported by the Philippine Basketball Association, Premiere Volleyball League, Akari, Rain or Shine, AcroCity and 1-Pacman Party List.
Yulo was just as dominant in the continent with his four gold medals in the Men’s Artistic Gymnastics Asian Championships in Tashkent and a gold and a silver in the FIG Artistic Gymnastics World Cup Series in Qatar where Ruivivar also bagged a silver medal to earned tickets to Paris. Malabuyo struck a gold and a bronze also in Uzbekistan to formalize her first Olympic stint.
Another Yulo, Karl Eldrew, made his presence felt as well, bagging the gold medal in the juniors division of the same Tashkent tournament.
The younger brother of Carlos Yulo also won golds in the Pacific Rim Championship in Cali, Colombia, and in the Chiu Wai Chung Cup in Hong Kong just before 2024 ended.
ERWIN ANCAJAS battles countryman Richie Mepranum for he Philippine super bantamweight championship on January 18 at the City Public Plaza in Iligan City as he gears up for a possible world title shot. Ancajas, 33, told BusinessMirror through a video call from Palao in Iligan City on Sunday that he faces a dangerous and veteran Mepranum, who won his last two fights in Mindanao.
players after the qualifiers and before they launch into the next training camps here and abroad.
The PFF did not agree as they wanted to strengthen the team by adding four players. Both sides did not see eye to eye on this matter and the PFF pulled out Hermans.
And man, this is a blow. Moran had pumped in millions of pesos since taking on the role of team manager in 2022. We didn’t even have a decent program before this and now they are out. And all of a sudden, there are futsal experts here and there.
While I see the PFF’s side and I agree to an extent, they really should have met halfway. However, the PFF agreed to the program and schedule as submitted by Hermans and Moran.
In my opinion, they should have trusted Hermans, who is a futsal coaching legend, and Moran with this.
S o much for that now that the PFF jettisoned them unceremoniously.
But the die is cast, the PFF is moving on even as the Hermans and Moran conducted a training camp this past Saturday for the remaining homegrown players—to fulfill their mandate to form a fully ready national team. It is a move that the PFF considers unofficial.
A s it is, a line-up was submitted by the PFF to the AFC this past January 1, so what is the point? Unless the PFF suddenly reverses course—of which they will most likely not—then this is the unfortunate end of the project that began in 2022.
“Richie Mepranum is a veteran who, just like me, fought also in the amateurs. It’s not a walk in the park facing him because he’s also there to prove something,” Ancajas said.
A ncajas, who’s been training in Iligan City for the past two months with a 35-4-2 win-loss-draw record with 23 knockouts, said he still needs to shed 10 pounds in two weeks to make the 122-lb limit. Mepranum, fighting out of Maasim in Sarangani, is a veteran of 48 bouts on 38 wins, 12 by knockout, and one draw. T he 37-year-old Mepranum fought for the World Boxing Organization oriental super bantamweight title but lost t o Australian Sam Goodman in 2021 in Sydney via technical knockout because of an injured right elbow.
Is this the first time that the PFF has asked players to be inserted into the lineup prior to a tournament?
No. In 2010, leading up to the Suzuki Cup, the late PFF president Mari Martinez asked then team manager Dan Palami and then-coach Simon McMenemy to add two players. Surprisingly, the national team refused and they flew to Vietnam. An angry Martinez said he would form another national team. He never got to do that because in the next PFF Congress, he was booted out. Off tangent, a team manager threw out the head coach in the middle of a tournament so he could coach because he disagreed with the tactics! T he recollections of that make me shake my head. You all just be the judge. Again, as I said, I feel bad. I was excited when the new PFF administration came in. New people, a breath of fresh air. And I wish them the best. W hen you factor
ANGELO QUE is one of only two three-time winners of the prestigious tournament that offers a top prize of P2 million from the P6 million purse.
THE national women’s futsal team program moves on despite the abrupt transfer of its head coach, Vic Hermans, to the men’s squad.
