AFORMER Deputy Governor of the Bangko Sentral ng Pilipinas (BSP) has offered a word of caution on the central bank’s plans to further ease monetary policy, saying that the “precarious
Pilipinas (BSP). The BOP posted a $1.508 billion deficit in December 2024, a reversal from the $642 million surplus in December 2023. With this, the country’s overall BOP surplus declined to $609 million at the end of 2024 from a $2.117 billion surplus as of the end of November 2024 and $3.672 billion surplus in 2023.
By Cai U. Ordinario
THE United States’ withdrawal from the Paris agreement would be the most harmful thing or decision to the Philippine economy among the slew of executive orders recently signed by President Trump, according to analysts.
Ateneo de Manila University economist Leonardo Lanzona Jr. told BusinessMirror that when advanced economies turn their backs on climate change and ignore its impacts, vulnerable countries like the Philippines suffer.
Studies conducted by think tanks here and abroad highlight
the billions of dollars lost due to rising sea levels and more frequent typhoons, especially in countries like the Philippines. The Philippine economy’s recent lackluster third quarter performance is only one of many instances when climate change led to economic losses (See: https://businessmirror.com.ph/2024/11/08/ climate-risks-to-agri-infra-tohurt-growth/).
“Of all the pronouncements of Trump, I think the most disconcerting is his lack of appreciation of climate change. This will affect the country more than the immigration and tariff policies he intends to pursue,” Lanzona said.
“This is where Trump’s policies create a grave concern. Once large countries, like the US, ignore climate change, it is the climate- vulnerable countries like the Philippines that carry the brunt of the extreme climate disruptions,” he also said.
Lanzona said in terms of immigration policies, Trump intends to go after illegal aliens. This will be good for the illegal immigrants because living illegally in the US will not lead to better lives for them and their families.
He said Filipino illegal immigrants in the US are usually people who are “disillusioned by the poor conditions here” only to find “even
worse conditions there.”
Higher tariffs IN the case of higher tariffs, Lanzona said trade has not played a major factor in the country’s economic growth. It can be noted that 70 percent of the economy is driven by consumption spending.
“We would be in a much better position if we transform our economic structures and do a reset of the kinds of exports we produce, engaging in more efficient and sustainable processes,” Lanzona said.
Meanwhile, Unionbank Chief Economist Ruben Carlo O. Asuncion agreed on the points raised
“The BOP deficit in December 2024 reflected the BSP net foreign exchange operations and drawdown on the national government’s [NG] deposits with the BSP to pay off its foreign currency debt obligations,” BSP said. BSP said the lower BOP surplus recorded in 2024 was largely due to the country’s wider trade in goods deficit as well as lower net receipts from trade in services and net foreign borrowings by the national government.
“This decline was partly muted, however, by the continued net in-
TBy Andrea E. San Juan @andreasanjuan
HE Board of Investments (BOI) said it has made key amendments to the 2022 Strategic Investment Priority Plan (SIPP) aimed at encouraging the establishment of education cities and branch campuses. This is seen to enable access to expertise from foreign education institutions.
“The changes in the [memorandum circular] MC include considering global industry updates involving the development of education cities and branch campuses. The guidelines include provisions for the establishment of branch campuses in the Philippines, as defined under the Republic Act [R.A.] No. 11448 or the Transnational Higher Education [TNHE] Act,” BOI said in a statement on Tuesday.
In particular, the investment promotion agency attached to the Department of Trade
and Industry (DTI) said Foreign Higher Education Institutions (FHEIs) may establish branch campuses in partnership with local entities, provided that the local partner is at least 60 percent Filipino-owned.
According to the BOI, Education City, now under the Infrastructure and Logistics of the SIPP, encompasses the development of a “contiguous” area for the establishment and operation of education facilities and buildings with digital infrastructure as well as the provision of auxiliary services that will “enhance” students’ education experience.
Education facilities and buildings, the investment promotion agency noted, may include research, healthcare, athletic, culture, and art facilities.
BOI Executive Director Ma. Corazon HaliliDichosa of the Industry Development Services (IDS) explained the importance of these
TRUMP REDUX President Donald Trump and first lady Melania Trump stand on stage at the Commander in Chief Ball, part of the 60th Presidential Inauguration, Monday, Jan. 20, 2025, in Washington. Stories on Trump inauguration in World, A6. AP PHOTO/BEN CURTIS
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amendments in aligning the education sector with the “progressive” vision of the TNHE Act.
“The amendments are pivotal to advancing the national education agenda,” said HaliliDichosa.
The BOI official said the new guidelines will “enhance” opportunities for international collaboration that facilitates access to expertise and knowledge relevant to global industry trends, empowers students, and bridges the gap between academe and industry.
Meanwhile, BOI said the issuance of the guidelines to support and incentivize the establishment of education cities and campuses was among the presented initiatives of the BOI during the Academe-Industry Matching (AIM!) Program launch in November 2024. The AIM! Program is a multisectoral, multiindustry partnership program for the workforce development of the BOI.
“The Program provides the platform for intensified coordination with education agencies and institutions for industry needs to ensure a job-ready workforce adept at technology and the future of work,” said the BOI.
With the intent to cover all bases, BOI said the Program has three Pillars that are implemented with key partner agencies and development partners.
“Pillar 1 is on Basic Education with the Department of Education [DepEd] under the Program ‘Kids for the Future of Philippine Industrialization’ or K4F, which is designed to be an early-stage intervention to help students be aware of industry trends and needs and aid them in choosing tracks or courses,” the BOI explained.
Under Pillar 2, the investment promotion agency attached to the DTI said the Program
For 3rd month, BOP in…
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flows from personal remittances, as well as net foreign portfolio and direct investments,” BSP said.
However, the future of the country’s trade in goods deficit continues to hang in the balance given the uncertainties in global trade.
Trade gaps
UNIVERSITY of the Philippines
economist Dante B. Canlas told BusinessMirror that should higher US tariffs be imposed on China and affects its economic growth, countries that trade heavily with China,
like the Philippines, could be affected.
This could mean wider trade in goods deficits this year, which also leads to wider BOP deficits during the period. He said this could also impact inflation, prompting the BSP to slow down on its monetary easing efforts.
“BSP pays a good deal of attention to domestic inflation. If there are signs of a rise, BSP may postpone interest-rate easing. But if inflation here slows down, BSP may reduce interest rates,” Canlas told
“TRANsformational Skills-based Career ENrichment and Development” or TRANSCEND, involves working mainly with the Technical Education and Skills Development Authority (Tesda) and other training institutions to update training regulations, provide skilling opportunities and make available trainings that are responsive to industry needs.
Meanwhile, Pillar 3 is on Higher Education with the Commission on Higher Education (CHED) under the Program “Enhance Learning Ecosystem and VAlue-adding Competencies Towards Employment” or ELEVATE. This is intended to institutionalize best practices and strengthen collaboration between businesses and educational institutions, cultivate highly-skilled and employment-ready graduates, and support implementation of the TNHE Act.
Halili-Dichosa further underscored the importance of these key amendments as she recognized the country’s “young and vibrant population,” adding that the Filipino talent is the country’s “biggest advantage.”
BusinessMirror
GIR in decline
MEANWHILE, given the wider BOP deficit in December 2024 and reduced BOP surplus for the whole of 2024, the country’s Gross International Reserves (GIR) has also decreased.
The final GIR level has decreased to $106.3 billion as of end-December 2024 from $108.5 billion as of the end-November 2024.
The latest GIR level represents a more than adequate external liquidity buffer equivalent to 7.5 months’ worth of imports of goods and payments of services and primary income
The BSP, however, noted that the
“The Filipino labor has been praised for their communication skills and for being highly trainable and adaptable to different work environments,” Halili-Dichosa noted.
Citing the 2023 IMD World Competitiveness Report, she said the country’s skilled labor was identified as the “top factor” for the attractiveness of the Philippine economy.
According to the BOI, the Philippines’ total population is around 116 million and is projected to be around 121 million by 2030.
The country graduates more than 750,000 students every year and of these, around 10 to 12 percent are graduates from engineering and technology courses.
“Moreover, the Philippines has a very young population with a median age of 26 years old, making it an attractive destination for investment and a reliable source of global talent,” the BOI noted.
As such, the agency said that the inclusion of Education City and branch campuses in the SIPP “will help nurture this talent pool while fostering international ties.”
latest GIR level ensures availability of foreign exchange to meet balance of payments financing needs, such as for payment of imports and debt service, in extreme conditions when there are no export earnings or foreign loans.
The GIR is also estimated to be 3.7 times the country’s short-term external debt based on residual maturity.
Short-term debt based on residual maturity refers to outstanding external debt with original maturity of one year or less, plus principal payments on medium- and longterm loans of the public and private sectors falling due within the next 12 months.
Cai U. Ordinario
Economists…
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on climate change, but said another decision of the US President could also have an impact on the Philippines.
This decision is to withdraw from the World Health Organization (WHO), which raises alarm bells for future pandemics as well as disease control and other health issues moving forward.
“The Paris Declaration and the WHO are critical institutions for mitigation of climate change effects [especially for the vulnerable economies like PH] and global health coordination that helps in important issues like future pandemics, disease control, etc.,”
Asuncion said.
The Philippines, he added, “needs these institutions to be significant and work to have a bigger voice. US participation is very important, and if it decides to go its own way, sustainability and relevance of these institutions may be threatened”.
Asuncion also said tariffs are still bound to affect the Philippines significantly as the country trades directly and indirectly, through global and regional value chains, with the United States.
The interconnectedness of the global trade network also lends other countries, unaffected by Trump tariffs on their own, to experience spillover effects through their trade partners.
“Note that the global economy is such a huge trade network that if one economy is challenged, the likelihood of a spillover is there. The US is the biggest economy in the world, so whatever it does will definitely impact other economies in the world,” Asuncion said.
RCEP as antidote
HOWEVER , Asean+3 Macroeconomic Research Office (Amro)
Inflation…
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Guinigundo said, may lead to faster inflation this year.
“Such a precarious rice situation does not promise bright prospects for domestic inflation,” Guinigundo said. “The Bangko Sentral ng Pilipinas would have to be careful in issuing forward guidance that commits itself to more rate reductions in the next meetings of the Monetary Board.”
Guinigundo said the “precarious rice situation” stemmed from the Department of Agriculture’s declaration that it will declare a food security emergency for rice.
This will lead to the release of 300,000 metric tons of rice stocks from warehouses of the National Food Authority (See: https://businessmirror.com.ph/2025/01/17/food-security-emergency-to-let-nfa-sell-ricebuffer-stock/).
The reason for this is despite the reduction in rice tariffs, prices of the country’s food staple may remain elevated because of unresolved supply side issues.
Inflation projection
GUINIGUNDO said given these challenges, it is unlikely that inflation will be kept within the 2 to 4 percent inflation target. The BSP’s risk-adjusted inflation rate now stands at 3.4 percent in 2025 and 3.7 percent in 2026.
“The problem remains because agricultural policy to stabilize prices of key commodities continue to focus on market dynamics rather than on production and agricultural productivity,” Guinigundo said.
In his view, allowing the NFA to sell rice through government-run Kadiwa
Chief Economist Hoe Ee Khor noted that one possible antidote to the ill effects of these higher tariffs among Asean countries is the Regional Comprehensive Economic Partnership (RCEP).
Khor noted that under RCEP, there are no taxes imposed on intermediate goods which could encourage manufacturers to ship these goods to other RCEP countries for processing.
This will ensure that trade of goods, especially in the region, will continue even amid higher tariffs imposed by the United States.
“So many of the MNCs [multinational corporations], when they shift out of China, they have to decide where to go next. And ASEAN countries become a natural location for many of them,” Khor stressed.
All hands on deck
IN Asuncion’s view, in order to make the most of these changes in global trade and development, the Philippines must pursue and improve its bilateral relations with other countries, similar to Malaysia and Singapore.
The national government, Asuncion said, would also benefit greatly if it will closely work with the private sector. This will be crucial especially with higher tariffs which are expected to be implemented after the conduct of studies, which will buy the country time to craft strategies.
“Initially, [he said] there will be ‘studies’ done first before a tariff rollout. It’s usual Trump as expected. He wants to bring people to the negotiating table,” Asuncion said. “The delay would buy us time. But, I think the bigger brunt would really be for both Mexico and Canada.”
Lanzona: Link up with CVF
MEANWHILE , on climate change, Lanzona said the Philippines must forge alliances with other climate-vulnerable nations, such as those in the Climate Vulnerable Forum (CVF).
centers which retail rice directly to consumers is not sustainable. This is because the rice to be sold is only a fraction of the rice available in the market. The 300,000 metric tons of rice from NFA warehouses will have a “minimal impact, if at all.”
He also noted that NFA’s planned 500,000 bags represent only 25,000 tons or about 66 percent of the country’s rice consumption in one day. “Lower selling price means the government would have to subsidize in order to keep rice prices lower and closer to the campaign promise to bring it down to P28 per kilo. But broken rice, the cheapest variety, retails at P58 per kilo based on suggested retail price [SRP],” Guinigundo said.
DA’s dilemma
EARLIER, Agriculture Secretary Francisco Tiu Laurel Jr. issued the statement about the food security emergency after the National Price Coordinating Council (NPCC) approved a resolution urging the DA to declare one, as retail rice prices remained high despite declining global rice costs and tariff reductions.
Laurel noted that the grains agency is in a pickle, with 300,000 metric tons (MT) of rice stored in its warehouses. He added that if stocks were released from the grains agency, these would be sold to local government units (LGUs), the Armed Forces of the Philippines (AFP), the Philippine National Police (PNP), and other government agencies. By February, Laurel noted that they aim to offer the rice stocks to LGUs and other agencies at P36 per kilo, which the latter could sell to the public at P38 per kilo. By March, however, he said they intend to sell it at P33 per kilo, which the agencies could sell at P35 per kilo.
gether on climate resilience projects such as disaster preparedness and sustainable energy development. The projects should also include those on climate resilience by investing in infrastructure that can withstand extreme weather such as flood defenses, resilient housing, and irrigation systems.
Lanzona said this can be done by implementing intense disaster preparedness through improved early warning systems, evacuation plans, and disaster response capacity.
As such, he said, this can mitigate the impact of typhoons and rising sea levels, and by supporting farmers in adopting practices like agroforestry, drought-resistant crops, and sustainable fishing techniques.
“The Philippines can now turn this crisis into an opportunity, not only to protect itself from the adverse effects of climate change but also to take a leadership role among climate-vulnerable nations, demonstrating resilience and innovation,” Lanzona said.
Threats to agri, infra EARLIER , economists said severe weather disturbances brought by climate change are threatening not only agriculture but also government infrastructure projects which could affect the country’s economic performance.
The Philippine Statistics Authority (PSA) said the economy slowed to 5.2 percent, the slowest since the second quarter of 2023. The data also showed government spending for projects slowed to 3.7 percent in the third quarter, lower than the 27.3 percent in third quarter of 2023 and 21.7 percent in the second quarter of 2024.
Socioeconomic Planning Secretary Arsenio M. Balisacan noted that the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) forecasts two to eight tropical cyclones from November 2024 to April 2025. Economists said this could disrupt the implementation of key infrastructure projects.
This, he said, will help amplify the voices of climate vulnerable nations in the regional and global arena. The Philippines and these other countries should promote regional cooperation.
These countries, he said, should work to-
PSA said the growth of the economy slowed to 5.2 percent, slower than the 6.4 percent growth in the second quarter and the 6 percent growth recorded in the third quarter of last year. This is the slowest growth of the Philippine economy since the 4.3 percent growth posted in the second quarter last year.
www.businessmirror.com.ph
Clamor to strengthen PHL anti-espionage law mounts
By Rex Anthony Naval
NATIONAL Security Advisor (NSA)
Eduardo Año on Tuesday said the arrest of a Chinese national and two of his Filipino associates, reportedly engaged in espionage, highlights government efforts to safeguard the country against all activities that undermines its national security.
In a statement, the NSA also commended Armed Forces (AFP), the National Bureau of Investigation (NBI), and the intelligence community for their vigilance and effective operations that led to the arrest of these individuals on January 17 in Makati City.
The three were allegedly engaged in sophisticated intelligence-gathering activities in the country.
“Their diligent efforts underscore the government’s commitment to safeguard our nation from any and all activities that undermine our national security. The arrest of these individuals is a stark reminder of the persistent threats posed by foreign interference and malign influence to the country,” Año said.
He added that the government remains committed to counter the espionage and other malign operations that threaten critical infrastructure, defense facilities, and national security.
“The recent arrests highlight the need for continuous vigilance, strengthened coordination among government agencies, and proactive measures to fortify our national security framework. In light of these developments, we urge the Congress to prioritize the passage of the
amendments to the Espionage Act, as well as the Countering Foreign Interference and Malign Influence bill,” Año added.
Strengthening the Philippines’ legal framework is essential to effectively address evolving security threats and to ensure that those who seek to compromise the country’s national security will face the full force of the law.
Senate Deputy Minority Leader Risa Hontiveros, meanwhile, called for the immediate strengthening of the AntiEspionage Law following the arrest of an alleged Chinese spy and increasing tensions in the West Philippine Sea.
“The Senate must immediately enhance the existing Anti-Espionage Law,” Hontiveros said in a statement Tuesday.
“As China’s monster ship continues to sail back and forth in the West Philippine Sea, the government must ensure that we don’t just let ourselves be surrounded by spies.”
Hontiveros pointed to previous incidents that flagged potential threats, including the Visa Upon Arrival scheme at the Bureau of Immigration, which she said allowed many Chinese nationals to enter the country without proper immigration checks.
She also raised concerns about Chinese nationals involved in Philippine Offshore Gaming Operators.
During an investigation of the Senate Committee on Women, Children, Family Relations and Gender Equality, which Hontiveros chairs, Chinese national Alice Guo was identified by the National
See “Clamor,” A4
DBM releases ₧30.4-B for MUP pensions
By Reine Juvierre S. Alberto @reine_alberto
MORE than P30 billion was released by the Department of Budget and Management (DBM) to finance the pension of military and uniformed personnel (MUP) for the first quarter of 2025.
In a statement on Tuesday, the DBM said Budget Secretary Amenah F. Pangandaman approved the release of P30.409 billion for the regular pension requirements of MUP, covering the periods of January to March 2025.
Broken down, the DBM allotted the largest share to the Armed Forces—General Headquarters-Proper (AFP-GHQ) and the Philippine Veterans Affairs Office (Pvao) under the Department of National Defense (DND) amounting to P16.752 billion.
Attached agencies of the Department of the Interior and Local Government (DILG) also obtained P13.297 billion.
These include the National Police (PNP), Bureau of Fire Protection (BPF), Bureau of Jail Management and Penology (BJMP, and National Police Commission (Napolcom).
Meanwhile, the DBM also free up P350.680 million to fund the pension of
2,836 retired uniformed personnel of the Department of Transportation (DOTr)-Coast Guard (DOTr-PCG) for the same period.
Pensioners under the National Mapping and Resource Information Authority (Namria) of the Department of Environment and Natural Resources (DENR) received P8.530 million.
The DBM said the releases are based on the actual pension payroll submitted by the above-mentioned MUP agencies as of December 31, 2024.
The P30.409 billion fund is chargeable against the Pension and Gratuity Fund (PGF) under Republic Act 12116 or the Fiscal Year
QuadCom chairman concerned on ‘gross miscarriage of justice’ in Duterte drug war
TBy Jovee Marie N. dela Cruz @joveemarie
HE chairman of the House Quad Committee on Tuesday expressed serious concerns on Tuesday over what he described as a gross miscarriage of justice during the Duterte administration’s war on illegal drugs, asserting that “fall guys were convicted while the masterminds behind billion-peso drug smuggling operations remain free.”
In his opening remarks during the committee’s 14th hearing, Surigao del Norte Rep. Robert Ace Barbers lamented that innocent individuals have been sentenced for up to 40 years imprisonment, while those truly responsible for the massive drug shipments evaded prosecution.
“The smuggling of tons of illegal drugs worth over twelve billion pesos [P12 billion], pinned on small-time individuals, is a questionable step aimed at covering up those truly involved,” Barbers said.
He pointed to several individuals allegedly used as scapegoats in high-profile drug cases, including businessman Mark Taguba, warehouse guard Fidel Anoche Dee, and former Bureau of Customs employee Jimmy Guban. These individuals, despite glaring gaps in evidence, were convicted.
Mere middleman
“ MARK TAGUBA , a young businessman, was merely a middleman facilitating shipments brought in by importers. He had no knowledge of the containers’ contents,” Barbers noted.
Barbers also highlighted the case of Fidel Anoche Dee, a warehouse guard, unknowingly involved in receiving drug shipments during a supposed “controlled delivery” operation by the Philippine Drug Enforcement Agency (Pdea). “This warehouseman was charged and is now languishing in prison,” he added.
Barbers reaffirmed the committee’s commitment to justice and accountability, stating, “If these people are necessary fall guys in order to cover up the truth, then we have committed a grave injustice that we are now compelled to rectify.”
The lawmaker criticized the failure to charge higher-level officials and influential individuals who may have had a hand in facilitating the entry of illegal drugs.
Barbers also raised concerns over the
promotion of officials involved in the handling of these cases, such as former prosecutor Aristotle Reyes, who was later appointed as a regional trial court judge despite his supposed role in pursuing the convictions of alleged fall guys.
“Former prosecutor Aristotle Reyes, after filing cases against the fall guys, was promoted to RTC judge and is reportedly applying for a Sandiganbayan justice position,” Barbers said. “We had hoped to bring Judge Reyes here for clarification, but we need the Supreme Court’s permission since he is now a judge.” Barbers called for further investigation into these questionable prosecutions. He emphasized that the QuadCom seeks not just to punish criminals but to ensure that justice is served fairly. “The Quad Comm is in pursuit of justice. We seek the true owners of these drugs,” he added. Barbers underscored the urgency of amending laws to prevent similar injustices.
See “Quad,” A4
LTFRB reviews fare hike petition of jeepney groups
By Lorenz S. Marasigan @lorenzmarasigan
THE Land Transportation Franchising and Regulatory Board (LTFRB) said on Tuesday it is reviewing the petition filed by transport groups seeking a P15 minimum fare for public utility jeepneys.
LTFRB Chairperson Teofilo Guadiz III said the agency is seeking an “equitable solution” amid mounting economic pressures on both drivers and commuters. He acknowledged the difficulties
faced by jeepney drivers and operators owing to rising fuel prices and inflation.
“We understand the challenges faced by our drivers and operators due to rising fuel prices
and the increasing cost of living. While we remain committed to ensure that their livelihood is sustainable, we must also carefully balance this with the welfare of commuters who are equally affected by the current economic conditions,” Guadiz said.
The P15 minimum fare petition, lodged by various transport groups way back in 2022, has been a recurring issue, as drivers cite unsustainable operational costs. Currently, the minimum fare for traditional jeepneys is P13, following a provisional P1 increase approved in October 2023.
“The LTFRB is reviewing the petition thoroughly and will consider all relevant factors, including fuel price trends, inflation rates, and the overall economic impact on the riding public,”
Guadiz said.
Oil prices rose on Tuesday at a uniform increase of P1.65 per liter for gasoline; P2.70 per liter for diesel; and P2.50 per liter for kerosene.
Since the start of 2025, oil prices have recorded net increases of P1.80 per liter for gasoline and kerosene and P2.30 per liter for diesel.
Last year, after conducting public consultations, the LTFRB deemed there was “no basis” to immediately implement fare hikes amid the Public Utility Vehicle Modernization Program (PUVMP).
He added that the LTFRB plans to conduct public hearings and consultations. However, no timeline has been set for the agency’s decision on the fare increase.
Da Costa-Villaluz is new IPOPHL head
THE Intellectual Property Office of the Philippines (IPOPHL) on Tuesday announced the appointment of lawyer Brigitte M. da Costa-Villaluz as its new director general.
A distinguished lawyer with extensive experience in intellectual property (IP) law, da CostaVillaluz brings nearly three decades of private practice expertise to the office.
Da Costa-Villaluz has worked on complex cases involving trademarks, patents, copyrights and commercial law. She is the founder
Quad.
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“Through stronger legislation, we can prevent injustices like this in the future,” he said.
of BDCV Law and was previously a partner at Poblador Bautista & Reyes Law Offices where she built a distinguished career handling IP litigation, enforcement and corporate governance. Throughout her career, da Costa-Villaluz has been recognized for her expertise in IP law, earning accolades such as being named a Trademark Star by Managing IP in 2021 and 2022, as well as being featured in Asia IP Informed Analysis IP Expert in 2023 and 2024. She has also been commended by Legal 500 for her exceptional work in IP prosecution.
Da Costa-Villaluz was admitted to the Bar in 1997. She graduated from the Ateneo de Manila University School of Law, where she earned her Juris Doctor degree in 1996, ranking ninth in her class. She is also a graduate of the University of the Philippines School of Economics, where she earned her Bachelor of Science in Economics.
With her legal acumen, leadership experience and passion for IP, da Costa-Villaluz is poised to play a pivotal role in
advancing IP protection, shaping the future of innovation and supporting the growth of industries vital to the nation’s economic development.
“I am deeply honored by the opportunity to serve the country together with the men and women of IPOPHL,” da CostaVillaluz said. “We will continue the close work with IP rights holders to elevate the use of the intellectual property system towards creativity, innovation and inclusive prosperity,” da CostaVillaluz said.
PSA reports low palay output in ’24
By Ada Pelonia @adapelonia
PADDY rice output fell by almost one million metric tons (MMT) last year compared to the 2023 level, dimming hopes that the local farm sector did not end 2024 in negative territory.
Data from from the Philippine Statistics Authority (PSA) showed that palay output in 2024 shrank by 4.85 percent to 19.09 MMT from 20.06 MMT in the previous year.
Palay output alone accounted for 22.2 percent of the crops subsector production in July to September, based on PSA data.
The country’s agriculture and fisheries output decreased by 2.2 percent from January to September as El Niño and successive typhoons ravaged local plantations.
PSA data also indicated that palay output in irrigated and rainfed farms also declined last year.
The production of irrigated farms dipped by 4.72 percent, reaching 14.56 MMT from the previous year’s 15.28 MMT. Rainfed farms produced 4.53 MMT, 5.26 percent lower than the 4.78 MMT
recorded in 2023.
The palay output of Central Luzon, the country’s rice granary, slid by 4.29 percent to 3.48 MMT from the previous year’s 3.64 MMT. Central Luzon remained as the country’s top rice-producing region in 2024.
Cagayan Valley, another big rice producer, had 2.92 MMT or 3.42 percent lower than the 3.03 MMT recorded in 2023.
The PSA’s palay output figure was lower than the Department of Agriculture’s (DA) forecast that palay production would settle at 19.3 MMT in 2024.
Despite this, the agency said it aims to set a new record palay output of 20.46 MMT this year.
Yellow, white corn PSA figures also showed that corn output dropped by 3.18 percent to 8.14 MMT in 2024 from 8.41 MMT recorded in the previous year.
Yellow corn, which is used for making animal feeds, fell by 2.22 percent to 6.23 MMT last year from 6.37 MMT in 2023. White corn decreased by 6.17 percent to 1.91 MMT in 2024 from 2.04 MMT recorded in the previous year.
Occ. Mindoro town eyes having 100% renewable energy by 2030
By Jonathan L. Mayuga @jonlmayuga
SABLAYAN, Occidental Mindoro is transitioning from dirty fuel to clean, green, renewable energy and is eyeing to become 100 percent RE by 2030.
As the QuadCom continues its hearings, Barbers vowed to pursue the real masterminds behind these operations and rectify past mistakes. He called on the Department of Justice and other relevant agencies to re-examine the cases and bring the true perpetrators to justice.
Villanueva released THE QuadCom rescinded its contempt and detention order against former Pdea chief Wilkins Villanueva. The decision was approved by Barbers, the committee’s lead chairman, following a motion by co-chairman Rep. Joseph Stephen Paduano to reconsider the sanction against Villanueva.
“I was the one who moved to cite for -
mer director general Wilkins in contempt, and appreciate his gesture of seeking a reconsideration, unlike Col. Grijaldo, who resorted to forum shopping,” he said.
He was referring to Police Col. Hector Grijaldo, former chief of the Mandaluyong City police station, who was also ordered detained for contempt like Villanueva during last month’s 13th hearing of the QuadCom.
Instead of seeking a motion for reconsideration, Paduano said the former Mandaluyong City police chief chose to
question the committee’s contempt citation before the Supreme Court.
He said Villanueva has promised to fully cooperate with the mega panel and to truthfully answer all questions from its members.
Villanueva was cited in contempt last month for “being evasive” in his answers about the arrest of Jed Pilapil Sy, wife of suspected drug lord and Chinese national Allan Sy, after Pdea agents raided a suspected shabu laboratory in Davao City in 2004, when Villanueva was the agency’s chief.
Sablayan officials are working with the Provincial Government of Occidental Mindoro and the Philippine Movement for Climate Justice (PMCJ) in their effort to make the town 100 percent RE. A memorandum of understanding (MOU) was signed on January 20, in the presence of Mindoro Occidental Gov. Ed Gadiano, Vice Gov. Anecita Tayag, Rep. Leody Tarriela, Sablayan Vice Mayor Edwin Mintu, and officers of Occidental Mindoro Electric Cooperative Inc. (Omeco), during the 123rd Founding Anniversary of the town and the 20th Fiesta Parangal of San Lorenzo.
Sablayan Mayor Walter Marquez obtained authorization by the Sablayan Municipal Council to enter into an MOU with the PMCJ.
The provincial government’s support in the call for 100 percent RE gives weight to the accord. A total of 13.99 gigawatts (GW) renewable potential will be made available by 2030, which is more than 30 times the current demand of the town, PMCJ National Coordinator Ian Rivera said.
In Puhawan’s presentation, the power crisis in the province was not due to Omeco’s mismanagement of the supply, but by red tape on the part of the Energy Regulatory Commission and the National Power Corporation (Napocor).
The parties vowed to work on the problems of Mindoro Occidental’s power situation, with the vision of the planned and managed phaseout of fossil fuels and just transition to renewable energy (RE).
Rivera provided the context and facilitated the setting of objectives for the planned RE and Investment Summit in the province. PMCJ Senior Energy Officer Larry Pascua also presented the concept and challenges of the climate crisis and climate emergency.
In September 2024, the Province of Albay held the Renewable Energy and Investment Summit where various business groups and investors pledged a total of P84 billion (US$ 1.5 billion) for the development of 1250 MW of RE projects.
“Year after year, local governments take up a vital role in addressing the climate crisis. Forging tangible partnerships, and policy and campaign initiatives, are all essential for the ongoing global campaign for climate justice,” Rivera added.
The town of Sablayan is the third local jurisdiction in the Philippines pushing for 100 percent RE by 2030. The first two are the provinces of Albay and Misamis Oriental.
PMCJ Luzon Coordinator Erwin Puhawan conducted a presentation on the province’s power situation. “The peak demand in 2020 is 24.48 megawatts [MW] higher than the 24.16 MW in 2019 by 1 percent. Peak demand has no significant changes owing to the effect of the pandemic on the local economic activities,” Puhawan said.
Continued from A3
Intelligence Coordinating Agency as an “agent of influence.”
“Allegations of self-confessed Chinese spy She Zhijiang that Guo is a fellow spy have also not been put to rest. Government must continue to exhaust all efforts to reach out to She and obtain information so crucial for our security”
Hontiveros added. “I trust that the DND [Department of National Defense], together with other relevant agencies, is on top of this matter. We have to take this seriously for the sake of our national security, our national interest, our sovereignty.”
Wednesday, January 22, 2025 A5
PHL to host Asean Tourism Forum 2026
By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror
THE Philippines will be hosting the Asean Tourism Forum (ATF) in 2026, giving the country a chance to put its best foot forward and encourage more tourists from the region to visit.
In a news statement, the Department of Tourism (DOT) said Tourism Secretary Christina Garcia Frasco formally accepted the chairmanship of ATF 2026 during a ceremonial handover held in Johor, Malaysia at the closing of ATF 2025. The Philippines takes over as chairman after Myanmar, now ruled by a military junta, waived its hosting duties.
ATF 2026, is set to include the Asean Tourism Ministers’ Meeting, which will be held in Cebu in January 2026. Some 1,500 delegates are expected to attend the ATF.
The Philippines will also host the Asean summit meetings in 2026, where the DOT has been assigned the Tourism Hospitality, Tours, Social Events and Site Enhancement Committee by the Malacañang-led National Organizing Council. Preparatory meetings for Asean 2026 will be held in Manila and Boracay.
“As the Philippines takes on the chairmanship of Asean 2026, I invite you to join us in the Philippines for the 29th ASEAN Tourism Ministers’ Meeting in Cebu on January 2026. It will be an opportunity not just to discuss policies, but to witness firsthand the immense potential for sustainable tourism growth in the region,” said Frasco. Cebu, a hub for events AS FOR ATF, the event usually includes a three-day Travel Exchange (Travex), a premier trade show that facilitates business-to-business meetings and where Asean members are able to promote their respective tourism products and services.
Frasco also emphasized what Cebu has to offer visitors.
“Cebu is a hallmark of unity— evincing what can happen when communities, businesses, and governments come together to create a tourism model that is both profitable and responsible.” Since Frasco’s appointment as DOT chief, she has pushed Cebu’s hosting
of many tourism-related international events such as the First UN Tourism Regional Forum on Gastronomy Tourism for Asia and the Pacific, and the 36th Joint Commission Meeting of the Commission for East Asia and the Pacific and the Commission for South Asia last June.
Tourism in Cebu has yet to fully recover since the pandemic and Supertyphoon Odette unleasing its fury in 2022. Although average daily rates of hotels have recovered to prepandemic levels, occupancy is still 25 percent below the 2019 average.
(See, “Arrivals target imperiled by sluggish demand for Cebu, other domestic destinations,” in the B usiness M irror , June 28, 2024.)
Asean also includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Singapore, Thailand, and Vietnam. Representatives from Russia, Japan, India, and South Korea participate at the ATF. While Myanmar is officially an Asean member, country’s military regime has prohibited participation in any Asean event.
Sustainable tourism for all
“THE Philippines, with its spirit of hospitality and deep sense of community, stands ready to open its pristine shores to all of you, where we will write a new chapter of the Asean story: a legacy of unity, sustainability, and prosperity for all,” said Frasco.
The DOT chief was also vice chair of ATF 2025 and as lead country coordinator for the development of the Asean Tourism Sectoral Plan (ATSP) Post-2025, updated members on recommendations which can help foster an equitable and sustainable tourism sector in the region.
“Our focus extends beyond quantity to quality—prioritizing convenience and safety in tourism, promoting longer stays and increased spending, all while safeguarding our natural resources and honoring our heritage and culture,” said Frasco.
She underscored that sustainable tourism is “not only about counting visitors but measuring their spending, contributions, and impact upon our communities, driven by the primordial principle of preserving the unique cultures and ecosystems that make the Asean a truly special place to visit.”
Marcos congratulates Trump
on peaceful transition of power in US, hopes for stronger PHL-US alliance
PRESIDENT Ferdinand Marcos congratulated United States (US) President Donald Trump after the latter was peacefully sworn in as the 47th president of the US last Tuesday.
In a brief statement posted in his social media account, Marcos took note of the orderly transition of power in the US by the Biden administration to Trump’s camp.
“Congratulations to POTUS @realdonaldtrump and to the American people on another peaceful transfer of power in their Nation’s nearly 250-year history,” he said. Marcos is hopeful that Trump will continue to strengthen the Philippines-US alliance during his second term.
“I look forward to working closely with you and your Administration. The strong and lasting PH-US alliance will continue to uphold our shared vision of prosperity and security in the region,” he added.
Trump’s inauguration was held in the rotunda instead of the traditional steps of the US Capitol in Washington D.C. due to sub-freezing temperatures.
It was attended by former US presidents, including Barack Obama, Bill Clinton, and George W. Bush, representatives from other countries, celebrities, and heads of multinational tech firms like Tesla’s Elon Musk, Amazon’s Jeff Bezos, and Meta’s Mark Zuckerberg. He then signed his first executive orders before he headed to the Capital One Arena, where he met with his supporters in a festive atmosphere.
This was in contrast to the inauguration of former President Joe Bidden, which happened during the pandemic and was wrought with tension following the January 6 US Capitol riots, wherein supporters of Trump protested against the outcome of the 2020 US Presidential elections.
Samuel P. Medenilla
Comelec postpones resumption of ballot printing
THE Commission on Elections (Comelec) announced on Tuesday that the resumption of ballot printing has been postponed once again, following a temporary restraining order (TRO) issued by the Supreme Court in favor of another senatorial aspirant.
According to Comelec Chairman George Erwin M. Garcia, the printing—originally scheduled for January 22—has been moved to Januar y 25. This adjustment allows the inclusion of internet personality Norman Mangusin, who identifies as Francis Leo Marcos, in the official senatorial list.
In the 2022 presidential elections, Comelec rejected a petition to declare Marcos a nuisance candidate. At that time, the en banc reasoned that Marcos had the “capability to sustain a national campaign in light of his popularity and his network of supporters.”
“We can no longer guarantee our April 14 target for completing the printing. If adjustments continue, hopefully, printing won’t go beyond April 20. Deployment of paraphernalia to remote areas is the most challenging part,” Garcia said, partly in Filipino.
Aside from Marcos, the High Court also directed Comelec to reinstate Albay governor aspirant Noel Rosal in the official local ballot for the Bicol region.
T he Comelec said adjustments must be made again—particularly for the national ballots—to accommodate Marcos. Earlier today, the poll body completed 1,667 ballot face templates, which
already included the eight aspirants who secured TROs from the SC last week.
In response to these delays, Garcia announced that the poll body has deputized four machines from the National Printing Office to expedite the process.
O nce the final list of candidates is confirmed, Comelec plans to utilize a total of six printing machines to meet its target of 1.5 million printed ballots per day.
“We are now two weeks behind schedule in printing. Ideally, all election paraphernalia should be distributed nationwide two weeks before the elections because final testing and sealing occur one week before election day,” Garcia said.
When asked about the possibility of additional TROs in the coming days, the poll chief affirmed its commitment to “wholeheartedly comply” with the High Court’s directives.
“If that happens, maybe one or two more candidates will secure TROs. However, the impact is more significant when it involves national candidates since we need to revise everything that has already been printed. For local candidates, reprinting can be limited to their respective areas,” he explained.
The Comelec has allocated a total budget of P1.6 billion for the printing of 71 million ballots, which will be used for the national, local, and parliamentary elections on May 12. Each ballot costs approximately P22. Justine Xyrah Garcia
Trump’s second inauguration: A transformed Washington embraces the former president
By Mary Clare Jalonick
The Associated Press
ASHINGTON—Donald
WTrump took the oath of office on Monday inside a tightly packed Capitol Rotunda, where he was surrounded by a very different Washington than he was eight years ago.
Back then, when Trump gave a speech about “American carnage” on the inaugural stage in the rain, many congressional Republicans were silently prepared to push back on the most radical elements of his agenda and investigate his background. Today, they are almost unani -
mously backing the president. World leaders and corporate CEOs who once balked at Trump attended the ceremony, prepared to brave the bitter cold to publicly show their support before events were moved inside.
It is also a far different Washington from four years ago, when the stage built for Democrat Joe Biden’s inauguration had to be hastily repaired after an insurrection of Trump’s supporters two weeks before. The rioters tore pieces off the scaffolding to use as weapons against police who tried to stop them from breaking into the Capitol and halting the certification of Biden’s victory. The Rotunda was packed then,
too, as rioters violently rushed in after breaking through the main doors. They hung off statues, called out for lawmakers and battled police who were trying to push them out of the building. They walked through Statuary Hall—where Trump was celebrated in a post-ceremony luncheon on Monday—before trying to break down the doors of the House chamber with lawmakers still inside.
Trump refused to attend Biden’s inauguration, and many Republicans thought Trump’s political career was over in 2021. But he came back stronger than ever—and brought Washington with him.
“It’s a party victory in the sense that there’s this new populist Republican Party,” said Sen. Kevin Cramer, R-N.D. “There’s no question that the enthusiasm level is much higher than it was eight years ago.”
Amid the positive energy for Trump, even some Democrats appeared to be open to working with him.
Many Democrats attended the luncheon, a traditionally bipartisan affair that saw lawmakers in different parties, along with Supreme Court justices and the heads of major tech companies, sitting shoulder to shoulder to toast the new president.
Democratic Sens. Kirsten Gillibrand of New York and Chris Coons of Delaware both talked to him, and Coons shook his hand. Sen. Amy Klobuchar, D-Minn., who planned the
inauguration in her role as head of the Senate Rules Committee in the last Congress, laughed and chatted with Trump and Vice President JD Vance throughout the luncheon.
Trump’s second inauguration was also different because it was held indoors, a last-minute change because of the weather. The platform on the West Front of the Capitol, built over many months, stood empty and covered in tarps and cords, abandoned as the swearing in happened inside.
Biden’s inauguration in 2020 was unusual, as well, held without the normal crowds because of the Covid-19 pandemic. Guests on the platform were spaced out instead of crowded in.
Cramer said he attended, but many other lawmakers did not, and he said it felt “weird” but also more intimate with fewer people. “I remember the big teleprompter, the giant screen TV that Joe Biden was reading off of, and just how few people that were out there listening to it,” he said.
Did he ever think Trump, mostly shunned by official Washington after the Jan. 6 attack, would be back at the Capitol taking the oath of office?
“It was a possibility that clearly always existed,” Cramer said.
Sen. Mike Rounds, R-S.D., said that while Trump was an unknown in 2017, Washington Republicans now understand how he operates.
“They know he’s going to make statements and that he’s going to test the waters,” Rounds said. “But they also know that when it’s all said and done, he’ll take counsel and then he’ll make a decision.”
Despite the widespread support and unified power in Washington, Trump’s second presidency still faces obstacles, including a narrow majority in the House and different views within the party as he and Republican leaders eye massive bills to cut taxes, secure the border, deport immigrants and boost energy production.
For Democrats, the moment is fraught.
“I think it’s all the more clear this time around that the challenges that we face and the divisiveness of our nation, that it runs deep,” said Democrat Andy Kim of New Jersey, a firstterm senator. “This is not just about one person in the Oval Office. This is not just about Trump. It isn’t just about Biden.”
Kim said he’s been mulling legislation that could win bipartisan support and help people come together—perhaps investments in civics education or a national service program as the country prepares to celebrate its 250th anniversary.
Sen. Angus King, an independent from Maine, said he sees a difference in Trump’s Cabinet nominees, many of whom he believes were picked because they are loyal to him. His Cabinet eight years ago was more “wellrespected, well-qualified people.”
King attended Trump’s first inauguration and said his most vivid memory was hearing him utter the words “American carnage.”
“This American carnage stops right here and stops right now,” Trump said in his speech. He has repeated those themes throughout the last eight years.
“It was a very jarring moment,” King said. On Monday, Trump spoke similarly about the state of the country.
“For many years, the radical and corrupt establishment has extracted power and wealth from our citizens,” Trump said. “While the pillars of our society lay broken and seemingly in complete disrepair.”
“From this moment on, America’s decline is over,” Trump said.
An early test in December showed Trump’s limits after Congress rejected his push to add a debt limit increase to year-end spending legislation. In his final hours as president, Biden issued a number of preemptive pardons. Among them were pardons to the members and staff of the Jan. 6 committee that investigated the attack, as well as the US Capitol and D.C. Metropolitan police officers who testified before the House committee about that day.
PRESIDENT-ELECT Donald Trump takes the oath of office as he is sworn in as president during the 60th Presidential Inauguration in the Rotunda of the US Capitol in Washington, Monday, January 20, 2025. CHIP SOMODEVILLA/POOL PHOTO VIA AP
Senate passes controversial immigration bill as Trump prioritizes crackdown on migrants
By Stephen Groves The Associated Press
ASHINGTON—Fresh off President
WDonald Trump’s inauguration, the Senate on Monday passed a bill that would require federal authorities to detain migrants accused of theft and violent crimes, the first measure he likely will sign into law and giving more weight to his plans to deport millions of migrants.
Trump has made a broad crackdown on illegal immigration his top priority, and Congress, with Republicans in control and some Democrats willing to go along, is showing it is ready to follow suit. The bill passed 64-35, with 12 Democrats joining with Republicans voting in favor.
Passage of the Laken Riley Act—named after a Georgia nursing student whose murder by a Venezuelan man last year became a rallying cry for Trump’s White House campaign—was a sign of how Congress has shifted sharply right on border security and immigration. Passage came just minutes before Trump signed the first of his executive orders.
“We don’t want criminals coming into our country,” Trump told supporters at the Capitol earlier Monday, adding he looked forward to holding a bill signing “within a week or so.”
The bill now heads back to the Republicancontrolled House, which passed its version earlier this month and will need to approve changes made in the Senate. The Senate expanded the legislation to target immigrants who assault a police officer or are accused of crimes that kill or seriously injure someone.
Trump is already ending many of former President Joe Biden’s border and immigration programs, turning the United States away from the Democrat’s attempts at more humane immigration policies at a time when record numbers of people were sometimes arriving at the border with Mexico. Swift action on immigration policy in the new Congress was proof of how Democrats were no longer resisting some strict enforcement proposals.
“Anyone who commits a crime should be held accountable. That’s why I voted to pass the Laken Riley Act,” Sen. Catherine Cortez Masto, D-Nev., said on social media after its passage. Sen. John Fetterman, D-Pa., said that a “secure border” and support for immigration were “fully compatible.”
The bill cleared a key procedural vote in the Senate last week also with support from Democrats, and similar legislation gained support from 48 House Democrats earlier this month.
Ceasefire reveals Hamas’ persistent control over Gaza’s smoldering ruins
By Samy Magdy & Joseph Krauss
The Associated Press
AS a ceasefire brought calm to Gaza’s ruined cities, Hamas was quick to emerge from hiding.
The militant group has not only survived 15 months of war with Israel—among the deadliest and most destructive in recent memory—but it remains firmly in control of the coastal territory that now resembles an apocalyptic wasteland. With a surge of humanitarian aid promised as part of the ceasefire deal, the Hamas-run government said Monday that it will coordinate distribution to the desperate people of Gaza.
For all the military might Israel deployed in Gaza, it failed to remove Hamas from power, one of its central war aims. That could make a return to fighting more likely, but the results might be the same.
There was an element of theater in Sunday’s handover of three Israeli hostages to the Red Cross, when dozens of masked Hamas fighters wearing green headbands and military fatigues paraded in front of cameras and held back a crowd of hundreds who surrounded the vehicles.
The scenes elsewhere in Gaza were even more remarkable: Thousands of Hamas-run police in uniform re-emerged, making their presence known even in the most heavily destroyed areas.
“The police have been here the whole time, but they were not wearing their uniforms” to avoid being targeted by Israel, said Mohammed Abed, a father of three who returned to his
“If you come into this country illegally and you commit a crime, you should not be free to roam the streets of this nation,” said Sen. Katie Britt, R-Ala., who helped push the bill through the Senate.
The legislation would require federal authorities to detain migrants accused of crimes, including shoplifting, and would grant states new legal standing to challenge federal immigration decisions, including by immigration judges.
Critics of the bill say that provision will open the door for Republican state attorneys general to wage a legal battle against federal immigration decisions, injecting even more uncertainty and partisanship into immigration policy.
Deporting millions of migrants or enforcing the Laken Riley Act will largely depend on Congress’ ability to allocate roughly $100 billion that Republicans have proposed for border security and immigration enforcement. Republicans are debating how to approve that money through a process known as budget reconciliation that will allow them to squeeze it through Congress purely on party-line votes. That won’t be easy in the House, where Republicans hold the majority by just a few seats. They will also face intense pressure to balance their pledges to tame budget deficits and concerns about the economic, as well as humanitarian, impacts of mass deportations.
Currently, the Laken Riley Act has no funding attached to it, but Democrats on the Appropriations Committee estimate the bill would cost $83 billion over the next three years, according to a memo obtained by The Associated Press. US Immigration and Customs Enforcement has estimated it would need to nearly triple the number of detention beds and conduct more than 80 removal flights per week to implement the requirements, according to the memo.
“That’s a lot of money to spend on a bill that is going to cause chaos, punish legal immigrants and undermine due process in America—all while drawing resources away from true threats,” said Washington Sen. Patty Murray, the top Democrat on the Senate Appropriations Committee, in a floor speech last week.
Democrats also raised concerns about its impact on immigrants who have received deportation protection from an Obama-era program called Deferred Action for Childhood Arrivals. Trump sought to end the program during his first term, but he also occasionally expressed openness to allowing those covered by it to stay in the US.
home in Gaza City more than seven months after fleeing the area.
“They were among the displaced people in the tents. That’s why there were no thefts,” he said.
Other residents said the police had maintained offices in hospitals and other locations throughout the war, where people could report crimes.
Israel has repeatedly blamed Hamas for the heavy civilian death toll and damage to infrastructure because the group’s fighters and security forces embed themselves in residential neighborhoods, schools and hospitals.
A deeply rooted movement
OPINION polls consistently show that only a minority of Palestinians support Hamas. But the Islamic militant group—which does not accept Israel’s existence—is deeply rooted in Palestinian society, with an armed wing, a political party, media and charities that date back to its founding in the late 1980s.
For decades, Hamas functioned as a wellorganized insurgency, able to launch hitand-run attacks on Israeli forces and suicide bombings in Israel itself. Many of its top leaders have been killed—and quickly replaced. It won a landslide victory in 2006 parliamentary elections, and the following year it seized Gaza from the Western-backed Palestinian Authority in a week of street battles.
Hamas then established a fully-fledged government, with ministries, police and a civilian bureaucracy. Its security forces quickly brought Gaza’s powerful families into line and crushed rival armed groups. They also silenced dissent and violently dispersed occasional protests.
Hamas remained in power through four previous wars with Israel. With help from Iran it steadily enhanced its capabilities, extended the range of its rockets and built deeper and longer tunnels to hide from Israeli airstrikes. By October 7, 2023, it had an army of tens of thousands in organized battalions.
See “Ceasefire,” A8
The World
Wednesday, January 22, 2025
Landslides and flash floods on Indonesia’s Java island leave 17 dead and 8 missing
By Niniek Karmini The Associated Press
AKARTA, Indonesia—Indo -
Jnesian rescuers recovered the b odies of at least 17 people who were swept away in flash floods or buried under tons of mud and rocks that hit hilly villages on the country’s main island of Java, officials said Tuesday. Eight people w ere missing.
Torrential rains on Monday caused rivers to burst their banks, tearing through nine villages in Pekalongan regency of C entral Java province, as mud, rocks and trees tumbled down on mountainside hamlets, said Bergas Catursasi, who heads the local Disaster Management Agency.
He said rescue workers by Tuesday had pulled out at least 17 bodies in the worst-hit village of Petungkriyono, and res -
cuers are searching for eight v illagers who are reportedly still missing. Eleven injured people managed to escape and were rushed to nearby hospitals, Catursari said.
Television reports on Tuesday showed police, soldiers and r escue workers used excavators, farm equipment and their bare hands to sift through the rubble looking for the dead and missing in devastated villages, while o thers carried victims on bamboo stretchers or body bags to a mbulances or trucks.
“Bad weather, mudslides and rugged terrain hampered the rescue operation,” Catursari said, a dding that people who were fishing in the river and those who were taking shelter from the rain were swept away by flash floods.
National Disaster Management Agency spokesperson A bdul Muhari said flash floods
Thailand legalizes same-sex marriage, a historic victory for LGBTQ+ couples
By Jintamas Saksornchai
The Associated Press
BANGKOK—They have been in a committed relationship for more than 13 years, and even had a wedding in 2019. Since then, Danaya Phonphayung and Sunma Piamboon, both women, have considered themselves a married couple, even if same-sex marriages were not legally recognized.
The walls of their home in suburban Bangkok are decorated with faded photos from their happy union, filled with joy and love from their families and friends. Come this Thursday, their wedded status will be recognized by the nation as well, when a law that allows members of the LGBTQ+ community in Thailand to get married and have the same legal rights as heterosexual couples takes effect.
The couple said they can’t wait to formalize their union. They plan to register their marriage at a district office near their home on the very first day that the law allows.
“I think I’ll cry,” Danaya, an office worker, said with a big smile, thinking about the moment that they will sign the paper. “I’m so happy. It’s something that was more than I could’ve dreamed of, that suddenly this day is happening.”
“We live together. We bought a house. We bought a car. But we cannot share these things together like a married couple. When this is happening, we feel that it’s our rights that we need to secure as quickly as possible,” she said.
The marriage equality bill, which sailed through both the House of Representatives and the Senate, amended the Civil and Commercial Code to change the words “men and women” and “husband and wife” to “individuals” and “marriage partners.” It would open up access to full legal, financial and medical rights for LGBTQ+ couples.
Sunma, who owns a travel agency,
Ceasefire. . .
Continued from A7
In the surprise incursion that triggered the war, its fighters attacked southern Israel by air, land and sea, killing around 1,200 people, mostly civilians. Hamas-led militants abducted 250 others.
A war like no other IN response, Israel launched an air and ground war that has killed over 47,000 Palestinians, according to local health officials, and has reduced entire neighborhoods to fields of rubble. Some 90 percent of Gaza’s population has been displaced, often multiple times.
Nearly every day of the war, the Israeli military announced that it had killed dozens of fighters, or taken out
swept away villagers and vehicles passing through devastated villages and triggered a l andslide that buried two houses. The disaster also destroyed two main bridges connecting villages in Pekalongan d istrict.
Seasonal rain from about October to March frequently causes f looding and landslides in Indonesia, an archipelago of 17,000 i slands where millions of people live in mountainous areas or near fertile floodplains.
Last month, a landslide, flash floods and strong winds hit the Sukabumi district of West Java province, killing 12 people. In November a landslide and flash floods triggered by heavy downpours hit Indonesia’s North Sumatra province, leaving 20 dead a nd two missing. A landslide in the region also hit a tourist bus that killed nine people.
said that she had realized how crucial being legally married was when Danaya was hospitalized with dengue fever, as they don’t live close to her parents.
“The doctors asked me who I was, and I said I was the girlfriend, and they were like, ‘so what’?’ I couldn’t make any decision until her condition became quite serious,” she said. “I was so upset, like, if I had lost her … there would be nothing that could’ve made up for it. So, I think this is very important for both of us.”
How marriage equality became law
THAILAND has a reputation for acceptance and inclusivity, but struggled for decades to pass a marriage equality law. Thai society largely holds conservative values. Members of the LGBTQ+ community say they face discrimination in everyday life, although they note that things have improved greatly in recent years.
The government led by the Pheu Thai party made marriage equality one of its main goals. It made a major effort to identify itself with the annual Bangkok Pride parade in June, in which thousands of people celebrated in one of Bangkok’s busiest commercial districts.
Last week, Government House invited dozens of LGBTQ+ couples and activists for a photo op and a meeting with Prime Minister Paetongtarn Shinawatra and several high-ranking officials to celebrate the law coming into effect, making Thailand the first in Southeast Asia and the third place in Asia, after Taiwan and Nepal, to legalize same-sex marriage.
“It is almost like a dream, but it’s not. So, congratulations to all,” Paetongtarn said. “I think it’s very important that the world notice us, and know that in this small country we have this kind of thought. We have this kind of support for our people. So, we all should be proud.” The organizers of Bangkok Pride have collaborated with relevant
a midlevel commander, or dismantled a tunnel complex or obliterated a weapons factory. Israeli forces killed Hamas’ top leader, Yahya Sinwar, and most of his lieutenants. But the exiled leadership is mostly intact and Mohammed Sinwar, his brother, has reportedly assumed a bigger role in Gaza.
The military says it has killed over 17,000 fighters—roughly half of Hamas’ estimated prewar ranks—though it has not provided evidence. What Israel said were carefully targeted strikes frequently killed women and children and in some cases wiped out entire extended families.
The military blamed civilian casualties on Hamas. But survivors of the bombardment, crammed into tents after their homes were flattened, were a pool of potential recruits. Earlier this month, Secretary of State
government agencies to hold a grand celebration in central Bangkok and facilitate couples who wish to register their marriage on the very first day. They said that more than 300 couples have registered to officially tie the knot on Thursday at the event.
“(The law) is about returning our dignity, and confirming that we also have dignity as a human being,” said Ann “Waaddao” Chumaporn, a gender equality activist and the lead organizer of Bangkok Pride. “That day is going to be meaningful to all the couples that have gone through this journey together. I’d like to thank everyone, every love, that has faithfully struggled so that today would finally happen.”
How the law will be implemented THE government and state agencies in Thailand are historically traditional in outlook. To prepare them for change, the Bangkok Metropolitan Administration said that it has organized workshops for staff of all Bangkok district offices who are in charge of handling marriage registration. They included lectures raising awareness about gender diversity and guidance on how to properly communicate with those who come for the service.
“It’s like a missing piece of the jigsaw,” Bangkok Deputy Gov. Sanon Wangsrangboon said at one of the workshops earlier this month. “Society is ready. The law is getting ready. But the last piece of the jigsaw is the understanding from officials.”
He acknowledged there that would be problems in the beginning, but said that he hoped they would gradually improve over time.
After they register their marriage, Sunma said that she’s looking forward to having a “real marriage celebration” with her and Danaya’s families.
“It’s not just the two of us that are happy, but both of our families feel it is a big deal, and it is what everyone has been waiting for. Everyone said they are waiting for Jan. 23,” she said.
Antony Blinken said in a prepared speech that Hamas had recruited nearly as many fighters as it lost during the war. Michael Milshtein, an Israeli expert on Palestinian affairs and former military intelligence officer, said Hamas no longer has the ability to launch an Oct. 7-style attack but has returned to its insurgent roots, using creative tactics like harvesting unexploded Israeli ordnance for homemade bombs.
“Hamas is a chameleon. It changed its colors according to the circumstances,” he said.
“The war is ending with a strong perception of success for Hamas,” he added. “The enlistment capabilities will be crazy. They won’t be able to handle it.”
Magdy reported from Cairo. Associated Press writer Tia Goldenberg in Tel Aviv, Israel contributed.
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LAU PHILEX FREIGHT FORWARDING CORP. Kabatuhan Road, Deparo, Barangay 168, City Of Caloocan
DesPite the numerous difficulties faced by the local banana sector, the Philippines was able to maintain its status as the world’s second-largest exporter of the tropical fruit for the fourth consecutive year in 2021 (See, “PHL still second-largest banana exporter–FAO,” in the BusinessMirror, May 30, 2022). in 2022, its ranking slipped to third, a position which it held until 2023. A year after, the Philippines was overtaken by Colombia, a country once known for its notorious drug cartels (See, “Colombia, not PHL, now 3rdlargest banana exporter,” in the BusinessMirror, January 15, 2025).
A report published by the Food and Agriculture Organization of the United Nations (FAO) showed that the Philippines exported 2.28 million metric tons (MMT) of bananas last year, slightly lower than Colombia’s 2.31 MMT. Compared to the 2023 level of 2.35 MMT, the Philippines’ shipments of the tropical fruit were lower last year. FAO attributed this to the difficulties of banana growers in raising output due largely to the spread of Banana Fusarium Wilt Tropical Race 4 (TR4) in local plantations.
What’s alarming, according to the FAO report, is that banana growers “bore the brunt of substantial costs” to prevent the disease. This is on top of the rising cost of inputs, such as fertilizer, and logistics. The spread of TR4, FAO noted, made it difficult for the Philippines to supply the volume requirements of its top customers such as China and Japan.
The silver lining for the Philippines is that preliminary data from FAO indicated that its major customers did not turn to other suppliers of the tropical fruit. The UN agency said the decline in shipments from the Philippines were not offset by Ecuador and Vietnam – two of the countries that can capture our market share. The Philippines can heave a sigh of relief for now, but it does not mean that it should become complacent.
Local plantations have been plagued by TR4 for years, which is largely responsible for the reduction in the volume of bananas exported by the Philippines in the last three years. FAO itself acknowledged that the Cavendish variety, which the Philippines exports, is vulnerable to the disease. While it pushed for variety diversification, the chief UN agency said during the 4th Global Conference of The World Banana Forum (WBF) last year that acceptance by retailers and consumers of different varieties “remains a challenge.”
While efforts to lower or even eliminate tariffs on bananas in key markets are welcome, these would mean nothing if the Philippines could not deliver the volume requirements of foreign buyers. Policymakers should now work with the banana sector and find out what they could do together to stop Fusarium wilt from further harming the international reputation of Philippine bananas. Without the necessary interventions to eliminate the disease and manage high costs, the country will have to relinquish its market share to more efficient producers of the tropical fruit.
Not an easy task
GTHE BUILDER
overninG the country and making the population happy is not an easy job. A leader has to be sensitive to gut issues—those that generally affect the purchasing power of consumers. in their simplest term, gut issues are about prices of products and certain services that a consumer buys or uses regularly.
Government leaders, thus, are wary over the spike in the prices of basic commodities. Higher prices erode the purchasing power of consumers. Consumers react quickly to higher prices and easily put the blame on the government or local leaders if the cost of basic commodities becomes unaffordable.
The ensuing high inflation rate is a concern for economic planners and the administration they represent. It is an election issue that will hound the administration if left unmitigated. The high inflation rate was generally blamed for the loss of US Vice President and Democratic presidential candidate Kamala Harris in the November elections last year.
Here in the Philippines, consumers had to contend with high prices of rice and, lately, tomatoes. But the administration of President Ferdinand
Marcos Jr. successfully reined in the inflation rate, especially in the first few months of last year.
The supply side is clearly the culprit for the high prices of rice and some commodities. Flooding the market with rice to ease prices cannot be done overnight. It takes time to normalize the supply situation, especially amid drought and heavy rains that destroyed some crops late last year.
Fortunately, the government did succeed in taming the inflation rate through what our economic planners call strategic, timely and proactive measures.
The Philippines recorded an average inflation rate of 3.2 percent in 2024, or down significantly from the 6.0 percent average in 2023.
Food accounts for a significant part of the so-called consumer bas-
By Gregory Korte
V. Vitug Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso, Dionisio L. Pelayo Ruben M. Cruz Jr.
Eduardo A. Davad Nonilon G. Reyes
D. Edgard A. Cabangon Benjamin V. Ramos Aldwin Maralit Tolosa
Rolando M. Manangan
Former President Joe Biden granted blanket pardons to five family members in the last hour of his presidency, the final acts of clemency that also included sweeping pardons for members of Congress who investigated trump’s role in the assault on the Capitol four years ago.
“My family has been subjected to unrelenting attacks and threats, motivated solely by a desire to hurt me —the worst kind of partisan politics. Unfortunately, I have no reason to believe these attacks will end,” Biden said in a written statement.
The full and unconditional pardons—for any nonviolent offenses committed since 2014—were signed on Sunday but not announced until Monday, 21 minutes before ceding power to President Donald Trump.
Those pardoned included brothers James Biden and Francis Biden, sister Valerie Biden Owens, and James’ and Valerie’s spouses. He previously gave a blanket pardon to his son, Hunter Biden, who was about
to be sentenced on gun and tax evasion charges.
Biden said the pardons for his family should not be taken as admission or acknowledgment of any crime. Republicans had promised investigations into what they called the “Biden crime family,” which they said benefited financially from Biden’s access to world leaders during his term as vice president.
Biden also commuted the sentences of three people, including Native American activist Leonard Peltier, convicted of murdering two FBI agents in 1975. Peltier, who had been sentenced to life in prison, will serve the remainder of his sentence in home confinement.
Projects such as road, airports and seaports, bridges and power plants facilitate the transfer of goods within the country and promote an inclusive economy. More importantly, they lead to lower prices and empower the consumers to buy more and invest. They are the answers to their basic needs.
ket that measures the inflation rate.
The government knows well that increasing production and building resilience toward ensuring food security and protecting consumers’ purchasing power are the key to controlling the surge in prices.
Official data showed that the decline in the annual average inflation rate was led by lower inflation for food and non-alcoholic beverages, which fell to 4.4 percent in 2024 from 7.9 percent in 2023. Rice inflation also softened to 0.8 percent in December 2024, the lowest since January 2022.
“The 3.2-percent average inflation rate in 2024 is a significant improvement from the 6.0 percent figure in 2023. Despite the risks we encountered throughout the year, our combined efforts to temper inflation have largely been successful. We will build upon this momentum as we commit to keep the inflation rate within our target range in 2025,” says National Economic and Devel-
Biden said the pardons for his family should not be taken as admission or acknowledgment of any crime. Republicans had promised investigations into what they called the “Biden crime family,” which they said benefited financially from Biden’s access to world leaders during his term as vice president.
Also Sunday, Biden granted preemptive pardons to leading government officials that Trump has threatened to punish, fending off potential retribution by his successor against those he has labeled as political enemies.
opment Authority Secretary Arsenio Balisacan.
The high inflation regime, however, can come back and hound our consumers again if we remain complacent. Economic downturn, poverty and inequality and inflation are the major risks for the Philippines in 2025, according to the World Economic Forum.
The 20th edition of the WEF’s Global Risks Report also listed food supply shortage and unemployment or lack of economic opportunity as the major risks for the Philippines. But I believe the Philippines remains aware of the challenges ahead. The economy is, in fact, tracking a respectable and high growth path compared with its Asian neighbors.
The Philippines is set to achieve an upper middle-income status if it can sustain its growth trajectory and meet key targets through strategic investments, policy reforms and a favorable economic environment, according to the Philippine Institute for Development Studies (PIDS).
It said the government’s ability to implement reforms, manage inflationary pressures and boost investor confidence would determine whether it could sustain long-term growth and economic stability.
The PIDS study stressed the critical roles of the robust information technology-business process
Those pardoned include retired General Mark Milley, infectious diseases expert Anthony Fauci, and members of Congress and staff who served on the select committee which investigated the Jan. 6, 2021 attack on the US Capitol and recommended that Trump be prosecuted for his role in the insurrection. Those on the panel included Liz Cheney, a former Wyoming Republican congresswoman who helped lead the investigation, and now-Senator Adam Schiff, a Democrat from California who also led the prosecution in Trump’s first impeachment trial. The chair of the panel was Representative Bennie Thompson, a Mississippi Democrat. Former Representative Adam Kinzinger of Illinois, along with Cheney, were the only Republicans on the committee. The president also pardoned US Capitol and DC Metropolitan police officers who testified before the committee.
“The issuance of these pardons should not be mistaken as an acknowledgment that any individual engaged in any wrongdoing, nor should acceptance be misconstrued as an admission of guilt for any offense,” Biden said in a separate statement Monday. Eleventh-hour pardons have be-
Mark Villar
Billionaires worth $1.3 trillion embrace Trump at inauguration
By Jamie Tarabay, Amanda Gordon, Steven T. Dennis & Emily Birnbaum
AWho’s who of the world’s wealthiest people surrounded President donald trump as he took the oath of office—gathering a combined net worth exceeding $1.3 trillion for the occasion.
Seated prominently behind the Trump family for Monday’s swearing-in were the top three individuals on the Bloomberg Billionaires Index: Elon Musk, Jeff Bezos and Mark Zuckerberg. Also spotted inside the Capitol Rotunda for the inaugural ceremony were LVMH Chief Executive Officer and France’s richest man, Bernard Arnault, Alphabet Inc. cofounder Sergey Brin and Las Vegas Sands Corp. majority owner Miriam Adelson.
In a telling gesture, the tech billionaires were seated in front of Trump’s nominated Cabinet. Defense Secretary nominee Pete Hegseth had to crane past Musk and Alphabet CEO Sundar Pichai to watch the proceedings.
“It’s important to bring some of the brightest minds in the world together,” Donald Trump Jr. said when asked after the ceremony about the presence of tech billionaires.
The phalanx of deep-pocketed attendees highlighted a surge in support for Trump from Silicon Valley, Wall Street and other industries following his comeback victory in November’s election. At stake for many of their businesses is the promise of relief from US regulations and the hope of a boost to their corporate bottom lines from Trump’s pledge to spur investment. Others are hoping to avoid the worst of the fallout from tariffs that the president has vowed to use as an instrument of economic policy.
Embracing Trump marks a turnabout for some business leaders, who had recoiled from him four years ago following the January 6, 2021 attack on the US Capitol by hundreds of his supporters. Yet Trump’s pariah status faded as odds increased toward his election on a business-friendly message that included an extension of tax cuts enacted in 2017 during his first term in office.
Out of all those present, Musk has put perhaps the most into Trump’s return to the White House. The Tesla Inc. CEO spent more than $200 million of his personal fortune on the president’s campaign, quickly emerging as an influential adviser to Trump and taking a role as head of a government-efficiency initiative. Musk also has a lot at stake with the new administration, with reducing government regulation and boosting access to space contracts key for his businesses. After hearing Trump invoke plans during his inaugural address to send US astronauts
Villar . . .
continued from A10
outsourcing (IT-BPO) sector and the government’s Build, Better, More infrastructure program in driving the country’s economic recovery.
Infrastructure is a top priority of President Marcos as he urged the private sector to participate in nation building.
come a predictable feature of the modern presidency, with presidents waiting until their final moments in office to grant their most controversial acts of clemency.
Jollibee: A taste of Filipino pride on the global stage
FIn a telling gesture, the tech billionaires were seated in front of Trump’s nominated Cabinet.
Defense Secretary nominee Pete Hegseth had to crane past Musk and Alphabet CEO Sundar Pichai to watch the proceedings.
to Mars, the SpaceX CEO pumped his fists in the air. Colonizing Mars has been a longtime ambition of Musk. Present in the crowd as well were hedge fund billionaire John Paulson, conservative media mogul Rupert Murdoch and Apple Inc. CEO Tim Cook, who enjoyed a cordial relationship with the president during his first term. On Sunday, during a rally at Capital One Arena on the eve of Trump’s swearing-in, Cook received a shout-out from the incoming president, who said Apple had planned an unspecified investment in the US.
The billionaires waited in line along with lawmakers and other top officials to head into a celebratory post-inaugural luncheon at the Capitol. At one point, Bezos emerged with his fiancée Lauren Sanchez. Asked for his thoughts on Trump’s speech, Bezos responded: “Oh, I don’t know, I’m looking for a restroom.” At the luncheon, Cook was seen seated next to incoming Attorney General Pam Bondi, while Bezos sat with Republican Senate Majority Leader John Thune. Republican Senator Shelley Moore Capito of West Virginia got a photo of herself with Meta’s Zuckerberg.
Since the election, Zuckerberg has openly pivoted the social-media giant to align more closely with Trump and the new Republican majorities in Congress. He’s dropped a thirdparty fact-checking system in the US, following conservative complaints about censorship, and abandoned many of the company’s diversity and inclusion efforts.
Another closely watched guest was TikTok CEO Shou Chew, whose company’s fate rests in Trump’s hands. The president has promised to issue an executive order sparing the app from a ban that was to have taken effect on Sunday over the refusal by its Chinese parent company, ByteDance Ltd, to divest.
Trump, who initially sought to ban TikTok in his first term, has since found the social media platform to be an effective conduit to young voters and vowed to find a way to cut a deal that would keep it alive. With assistance from Billy House /Bloomberg
Projects such as road, airports and seaports, bridges and power plants facilitate the transfer of goods within the country and promote an inclusive economy.
More importantly, they lead to lower prices and empower the consumers to buy more and invest. They are the answers to their basic needs.
For feedback e-mail to senatormarkvillar@ gmail.com or visit our web site: https://markvillar.com.ph
In his last hours in office during his first administration, Trump pardoned more than 70 people, including Elliott Broidy, a former Republican National Committee finance official who pleaded guilty over charges of acting as an unregistered Chinese agent; Robert Zangrillo, a Miami investor ensnared in a college admissions bribery scandal, and Albert J. Pirro Jr., the ex-husband of Fox News host Jeanine Pirro. Trump’s pardons went to people who had been charged with crimes, if not always convicted and sentenced, while Biden’s most recent pardons cover people not known to be under criminal investigation. Such blanket pardons are valid, but rare. President Gerald Ford pardoned his predecessor, Richard Nix-
MAKE SENSE
iliPinos have long embraced their rich culinary heritage, and one of the most beloved symbols of this pride is Jollibee Foods Corporation (JFC). What began as a modest family-owned ice cream parlor in Manila in 1975 has transformed into a global fastfood sensation, capturing the hearts and taste buds of millions of other nationalities around the world.
Jollibee’s journey started with a simple idea: to serve delicious ice cream. However, as demand grew, the founder, Tony Tan Caktiong, expanded the menu to include hot meals. This pivot laid the groundwork for what would become a unique fastfood experience that blends Western fast food with Filipino flavors. At the heart of Jollibee’s success are its signature dishes that resonate deeply with Filipino culture. The iconic Chickenjoy, a crispy fried chicken served with its own gravy, has become a household favorite, while the sweet and savory Filipinostyle spaghetti offers a delightful contrast to traditional pasta dishes. These menu items not only satisfy cravings but also evoke a sense of nostalgia and connection to home for many Filipinos, especially those living abroad.
Following the success of its flagship brand, JFC expanded its presence by acquiring several brands in the fast food sector, both in the Philippines and internationally. These include Chowking, Greenwich, Red Ribbon, and Mang Inasal. As of September 2022, JFC operates over
6,300 stores globally, with systemwide retail sales amounting to P210.9 billion.
Today, Jollibee boasts over 9,500 locations across 32 countries, making it one of the largest fast-food chains in the world. Its expansion into international markets has not only showcased Filipino cuisine but has also helped to promote a sense of national pride. Jollibee’s colorful mascot has also become a symbol of happiness, appealing to both Filipinos and nonFilipinos alike.
My wife and I celebrated Christmas in Seattle, Washington, where one of our sons has made his home.
In Tukwila, a suburban city in King County just south of Seattle, a Jollibee outlet shines as a hub of Filipino cuisine. This prime spot, located near the extensive shopping and dining options of Southcenter Mall and the picturesque Duwamish Greenbelt, is an ideal destination for both Filipinos and others who have developed a taste for Jollibee’s offerings.
I was pleasantly surprised to see not just Filipinos, but customers
Today, Jollibee boasts over 9,500 locations across 32 countries, making it one of the largest fast-food chains in the world. Its expansion into international markets has not only showcased Filipino cuisine but has also helped to promote a sense of national pride. Jollibee’s colorful mascot has also become a symbol of happiness, appealing to both Filipinos and non-Filipinos alike.
of various nationalities waiting in long lines from 10 a.m. to 2 p.m. for takeout at Jollibee, as there were hardly any empty tables inside. I also noticed lines at Chowking and Red Ribbon next to Jollibee. It’s a point of pride for Filipinos that people from different backgrounds enjoy their beloved Jollibee.
During our visits to Guam, my wife and I observed the long lines of customers eager for Jollibee’s world-famous Chickenjoy and other popular menu items. According to the company, the Guam location is Jollibee’s 38th outlet in the US and its territories. “The standalone Jollibee store seats 205 and is in front of Micronesia Mall in Dededo, the most populous village in Guam,” Jollibee said. “An estimate of over 1,000 enthusiastic fans lined up with some queuing for 12 hours to celebrate the first day of Jollibee’s Guam store,” it added. Jollibee’s global recognition embodies the resilience and creativity of the Filipino spirit. Its success reflects the high quality of its food offerings. As Jollibee expands, it shares a slice of the Philippines with the world, promoting a greater appreciation for
Trump holds off on immediate China tariffs, calls for study
By Jenny Leonard
President donald trump delayed the announcement of China-specific tariffs on his first day in office. instead, he instructed his administration to address unfair trade practices on a global scale and to investigate whether Beijing had adhered to a deal signed during his first term..
The moves—detailed in a fact sheet that is not yet public—are aimed at “reversing the destructive impact of globalist, America last trade policy,” according to a copy seen by Bloomberg News. The fact sheet also called for key federal agencies to address currency manipulation by other countries.
“This action underscores the Administration’s dedication to reducing dependence on foreign nations for critical supply chains and reinvigorating the US industrial base,” the fact sheet said.
The decision not to immediately target Beijing on Monday reflects a shift by the incoming president into a negotiating mode and an eagerness to cut another deal with Chinese President Xi Jinping, according to a person familiar with the decision who asked not to be identified discussing private deliberations.
The move could set the stage for trade duties in the coming weeks or months but it will come as a relief for some companies that had feared the tariffs would be imposed from the start. On the campaign trail, he promised a 10% to 20% charge on all
on, of all offenses he “committed or may have committed or taken part in” during his presidency. Biden’s pardon of his son, Hunter Biden, also included any offenses he may have committed in the past 11 years.
As recently as this month, Biden said he tried to avoid issuing mass pardons by convincing Trump not to retaliate. “I tried to make it clear that there was no need, and it was counterintuitive for his interest to go back and try to settle scores,” Biden told USA Today. Trump, in a text message to a NBC
imported goods and 60% on Chinese products. He also vowed a 25% tariff on all products from Canada and Mexico, and an additional 10% duty on Chinese goods.
Some people familiar with the decision cautioned that Trump often quickly changes his mind on strategy and could decide again to push forward with his original plans to target China. Still, Monday’s actions suggest a more deliberate approach than the fiery rhetoric about tariffs Trump offered during his campaign last year.
And he made clear in his inaugural address that tariffs were on the way.
“Instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens,” Trump said in the speech.
On the US-Mexico-Canada Agreement, Trump is set to direct his cabinet secretaries to assess its impact on American workers and businesses and make recommendations on whether the US should continue participating in it, according to the document. Trump in his last term replaced the North American Free
News reporter, called Biden’s pardons “disgraceful.”
“Many are guilty of MAJOR CRIMES!” the president-elect said.
Chip Roy, a congressman from Texas, said he believed Congress should “test the bounds” of Biden’s pardons by bringing in Fauci and others to testify before Congress this year.
“Come on in and testify. Get under oath,” Roy said. “Tell us what you did.”
An NPR review of Trump’s public statements last year found more than 100 threats to investigate, prosecute
Filipino culture and cuisine.
Jollibee is more than just a fastfood chain; it is a celebration of Filipino heritage and innovation. As it continues to expand its reach, Jollibee remains a source of pride for Filipinos everywhere, proving that delicious food has the power to unite people across borders. At Jollibee’s outlet in Guam, while my wife and I waited for our order, I was struck by a powerful realization: this is a testament to why we should take pride in being Filipinos. Jollibee’s success stands as a source of pride, honor, dignity, and global achievement for all of us. As the Chairman of the Federation of Philippine Industries, I can proudly say that we are fortunate to have Jollibee among our members. In my recent column, “Ramon S. Ang: The Ultimate Nation Builder,” I mentioned that I will be launching a series of columns to honor corporate and industry leaders who have significantly contributed to national development and improved the lives of our citizens. I’m looking forward to sitting down with Jollibee founder Tony Tan Caktiong for an interview to share his inspiring success story. My goal is to highlight the crucial role the private sector plays in supporting the government’s initiatives for inclusive growth and social development. I genuinely hope this series will motivate more entrepreneurs and business leaders to use their influence and resources for the betterment of our nation.
Dr. Jesus Lim Arranza is the chairman of the Federation of Philippine Industries and Fight Illicit Trade; a broad-based, multisectoral movement intended to protect consumers, safeguard government revenues and shield legitimate industries from the ill effects of smuggling.
The decision not to immediately target Beijing on Monday reflects a shift by the incoming president into a negotiating mode and an eagerness to cut another deal with Chinese President Xi Jinping, according to a person familiar with the decision who asked not to be identified discussing private deliberations.
Trade Agreement with USMCA and has often called it the best deal ever negotiated.
Earlier, Trump had said he could sign as many as 100 executive actions on Monday. His officials said those orders will also include measures to curb inflation and cut regulations, particularly those related to oil and gas production.
Trump also directed agencies to study the feasibility of an external revenue service—a new agency that would collect tariff revenue—and to recommend how to design and implement it. It’s unclear how that’ll be different than the existing federal system under which the Treasury secretary establishes tariff collection rules and Customs and Border Protection administers them at ports of entry.
During his first term, Trump negotiated a “phase one” trade deal with Beijing that ended years of tit-for-tat tariffs, but few of China’s promised purchases of US goods materialized.
or punish political opponents. Milley had served as chairman of the Joint Chiefs of Staff under Trump, but has since called him “fascist to the core” and “the most dangerous person to this country.”
Trump, in turn, has called Milley “a Woke train wreck” and “grossly incompetent” and suggested Milley’s efforts to defuse tensions with China after the Jan. 6 attacks were “an act so egregious that, in times gone by, the punishment would have been DEATH!” Fauci led the Covid-19 response
Trump’s swearing-in ceremony is set for about midday in Washington.
“China’s adherence to this agreement will now be assessed, to determine whether enforcement or changes are required,” the fact sheet said. The dollar tumbled on the news that Trump would refrain from immediately implementing aggressive tariffs, with a Bloomberg gauge of the greenback extending losses to about 1.2% — on track for its biggest daily slide since November 2023.
Investors have speculated that a trade war would be positive for the dollar given one would likely hurt foreign economies more than the US, limit US demand for international goods and boost the currency’s safe-haven status. US equity futures climbed.
Trump’s tariffs—which he’s threatened to slap on adversaries and allies alike—stand to have one of the biggest impacts on the US economy, analysts say. The self-proclaimed “tariff man” enacted duties on about $380 billion in imports in his first term.
Whether tariffs will do anything to close the trade deficit or bring back manufacturing or end any crisis is debatable. Many economists are skeptical. Tariffs in the short term are more certain to lead to a further appreciation of the dollar, raise the cost of imports, and add to government revenues, at least initially. With assistance from Josh Wingrove, Enda Curran and Nancy Cook / Bloomberg
during the Trump administration but the president-elect and his allies have turned on him for recommending lockdowns to slow the spread of the virus.
“My pronouns are still prosecute/ Fauci,” billionaire Elon Musk wrote on his X platform after the election. It’s not clear that those receiving pardons had asked for them or would accept them. Schiff, the California senator, has stopped short of saying he didn’t want a pardon but said “it would be the wrong precedent.” With assistance from Emily Birnbaum /Bloomberg
Dr. Jesus Lim Arranza
Wednesday, January 22, 2025
Trump tariffs not key issue, but fuel uncertainty – Recto
By Reine Juvierre S. Alberto @reine_alberto
THE proposed China-specific tariffs of United States President Donald Trump are not concerning and might be more beneficial for the Philippines, according to Finance Secretary Ralph G. Recto.
“Today, we’re not so much concerned. There are also opportunities for Western companies to leave China and come to the Philippines to export to the United States,” Recto told Bloomberg Television’s Haslinda Amin in an interview on the sidelines of the World Economic Forum in Davos.
This comes after Southeast Asia countries like Malaysia were reported planning to reform their anti-dumping legislation to prevent the barrage of goods from countries such as China.
Despite the optimism, Recto
said there is uncertainty on what Trump plans to do with tariffs, as these could drive inflation up and dim the possibility of reducing key policy rates, which the Philippines intends to do.
“Interest rates will not go down as much as we want it to, right? So that will affect global growth,” the Finance chief said. Recto supposed that Trump would increase tariffs on countries with high trade deficits, which the Philippines is not in a position in.
Data from the Philippine
Statistics Authority (PSA) showed the Philippines has a trade surplus with the US, with total exports amounting to $11.169 billion as of end-November 2024. This is compared to the $7.518 billion the Philippines has imported from the US.
The Philippines is in a vulnerable position “only with regard to inflation and interest rates. But directly, not so much,” Recto said.
The Bangko Sentral ng Pilipinas, where Recto is part of the Monetary Board, reduced key policy rates by a total of 75 basis points in 2024, placing interest rates at 5.75 percent.
This year, Recto said a 50 to 75 bps in key rate reductions is possible, delivering a 25-bps cut per semester, which will in turn enable the economy to grow to 6.5 percent.
This is within the 6.5 to 7.5 percent target of the government. He also said the growth target is intact and there is no reason to tweak the goal set.
Borrowing plans AMID high borrowing costs and the Philippine peso at risk of being weighed down further by the US dollar, the Philippines will be relying less on the overseas debt market this year, sourcing 20 percent of its debt
offshore.
Recto said the programmed $3.5 billion global offer will mostly be in US dollars while the remaining will be in euros.
The Philippines will be tapping the foreign market in the first half of the year for its dollar bond offer as it identified eight banks to help in the sale.
Data compiled by Bloomberg indicated about $1.5 billion in dollar bonds will be scheduled for issuance in March while 785 million euros in eurodenominated debt will be up in April.
The government is also looking at yen-denominated bonds and Sukuk as part of its financing program for the year.
“There’s a lot of domestic savings in the Philippines. There’s a lot of liquidity. It’s even cheaper for us to borrow domestically, practically speaking,” the Finance chief said.
So far, Recto sees no need to increase the programmed borrowings for the year, citing “healthy” gross international reserves, “thriving” business process outsourcing industry and remittances from overseas Filipino workers.
Of the government’s P2.545 trillion gross borrowings program this year, P507.408 billion will come from external sources while P2.037 trillion will be sourced locally.
F ILIPINO CEOs are more trusting of Artificial Intelligence (AI), with 75 percent trusting its integration into core business processes compared to the global average, according to PwC’s 28th Annual Global CEO Survey.
PwC said this “confidence” signals a “transformative shift” as Philippine business leaders position technological innovation at the forefront of their growth strategies.
The company said the 2025 Global CEO Survey was launched at the World Economic Forum Annual Meeting in Davos, Switzerland, and polled over 4,700 CEOs worldwide.
“Many Philippine business leaders aim to systematically integrate AI into their companies within three years, showing strong commitment to technological transformation across operations, decision-making and customer experience,” PwC said in a statement on Tuesday.
The professional services firm said the survey findings reflect a “progressive” mindset among Philippine CEOs, who see AI not only as a tool for operational efficiency but also as a catalyst for innovation, growth and competitive advantage.
PwC Philippines Deals and Corporate Finance Managing Partner Mary Jade RoxasDivinagracia said “AI offers so many possibilities for businesses, from automating routine tasks to uncovering and analyzing deeper insights into consumer behavior.”
In fact, she noted, this is already happening at PwC Philippines, which integrates GenAI into its operations through tools such as ChatPwC, a “secure” virtual assistant tailored to its “unique needs.”
The PwC Philippines official said AI’s impact depends on how it is used. “Businesses that thoughtfully embed AI into their strategies will not only enhance operations but also uncover opportunities for transformative growth.”
The survey noted that as many Philippine-based CEOs plan to integrate AI throughout their organizations over the next three years, their plans include modernizing technology platforms with
AI-ready infrastructure, transforming business processes, developing workforce capabilities, creating AI-enhanced products and services and aligning these initiatives with long-term business objectives. At least 47 percent of Philippine CEOs predict AI will be “systemically integrated” in their companies in the next three years, and integrated to a large extent on their business processes and workflows; 38 percent of the CEOs predict this will be embedded to a large extent in technology platforms, while 28 percent see this being integrated into new products/services development.
PwC explained that while global CEOs show “substantial” trust in AI technology, Philippine-based business leaders demonstrate “higher confidence” levels.
“This enhanced trust in AI’s transformative potential is evident in their strategic planning: Many Filipino CEOs are actively preparing to integrate AI across their organizations, from business processes and workflows to technology platforms and workforce skills—signaling a proactive approach to leveraging technology for efficiency and growth,” the PwC survey noted. However, the survey noted that challenges in workforce upskilling and technological disruption remain.
Filipino CEOs are also concerned about technological disruption, particularly keeping pace with rapid digital changes and a “significant” shortage of workers with critical skills needed for modern business operations.
“This skills gap is especially pronounced in areas like data analytics, digital transformation and emerging technologies,” said the survey, adding that these challenges underscore the urgent need for targeted investments in two key areas: comprehensive workforce development programs to upskill existing employees and attract new talent, and accelerated digital transformation initiatives to ensure organizations remain competitive in an “increasingly” tech-driven business landscape. Andrea E. San Juan
Amid uncertainties, Amro bullish on Asean economies
By Cai U. Ordinario @caiordinario
CONOMIES in the Asso -
Eciation of Southeast Asian Nations are expected to remain resilient amid the threat of higher tariffs to be imposed by the Trump administration in the United States, according to Asean+3 Macroeconomic Research Office (Amro) Chief Economist Hoe Ee Khor.
In a briefing on Tuesday, Khor said that higher tariffs to be imposed by the Trump administration are expected to be delivered in the second semester of the year.
Khor said the experience of the region during the height of the pandemic lends confidence to Amro to expect Asean’s regional growth to average 4.8 percent this year while the Asean+3 is expected to post a growth of 4.2 percent this year.
“There will be a reconfiguration of trade and many of the countries in the Asean will benefit from the reconfiguration simply because they have built up such [an efficient] ecosystem in manufacturing,” Khor said in a virtual briefing.
Khor said countries like Malaysia could become a location for electric vehicle (EV) factories while Thailand could host auto industry players.
He added that natural resources such as the abundance of nickel deposits could make Indonesia a location for the production of EV batteries.
Apart from this, Khor said the recent history of the Asean+3 at the height of the Covid-19 pandemic is a testament to the region’s resilience against shocks.
Khor noted that the regional economy was able to absorb the shocks brought by the pandemic and was able to post a rebound soon after.
“Despite the many uncertainties that’s facing the region, we still believe that the region can sustain growth of around 4 to 4.2 percent or around that area,” Khor said. “It would be one of the strongest growth, I think, in the world.”
Growth expectations for PHL MEANWHILE , Amro retained its growth expectations for the Philippines that was pegged at 5.8 percent in 2024 and 6.3 percent for 2025, the same as its December 2024 outlook for the country. In terms of inflation, Amro said this is expected to average 3.2 percent in 2024 and in 2025. These expectations are within the 2 to 4 percent inflation target of the government.
“We expect growth to be much stronger and supported by a stronger improvement in domestic demand. But also, the Philippines’ exports [have] held quite well recently. So for those reasons, we think the Philippines will be able to register a growth of 6.3 percent for [this] year,” Khor said.
Khor noted that Amro’s optimism in the growth of the Philippine economy also stems from the decision of the Bangko Sentral ng Pilipinas (BSP) to ease monetary policy.
This has already started to boost growth, given that fullyear economic growth in 2024 is expected to average 5.8 percent. The official GDP figures are due
to be released by the Philippine Statistics Authority (PSA) at the end of the month. Nonetheless, Khor said the continuation of the monetary easing of the BSP would also help spur economic growth moving forward, as interest rates are “still pretty high.”
“The Philippines is one of the stronger, faster-growing economy in the region,” Khor said. “We see signs that the economy is beginning to respond [to monetary policy easing].”
Meanwhile, the economic outlook for Asean+3, a region contributing to over 40 percent of global growth, is subject to significant uncertainties. These include escalating trade tensions and shifting expectations for US monetary policy.
Amro said recent US economic indicators, such as a persistently tight labor market and firmer core inflation, have fueled concerns about sustained inflationary pressures and prolonged high interest rates.
Policy shifts by the new US administration, including higher tariffs and tax cuts, may further heighten inflation risks, tightening external financial conditions for the region.
“Many regional central banks have begun easing monetary policy amid declining inflationary pressures,” Khor said in a statement.
“However, the upward revision in US interest rate expectations could widen the divergence between US and regional interest rate paths, complicating the conduct of monetary policy for Asean+3 economies,” he added.
Editor: Jennifer A. Ng
NPC’s claim for govt subsidy requires further study–ERC
By Lenie Lectura @llectura
THE Energy Regulatory Commission (ERC) has deferred the issuance of a decision to the subsidy claims filed by the National Power Corp. (NPC).
ERC Chairman Monalisa C. Dimalanta said further deliberations are needed on the petitions for approval of the availment from the Universal Charge for Missionary Electrification (UCME) for 2017-2022, petitions for the approval of the recovery from the UC of the shortfall in the ME subsidy from 2015-2016, and petitions for the recovery of 2017-2022 revenue shortfall from the UCME.
“They were deferred because of some questions. The Commission directed our legal services to evaluate further. We expect them to come back to us so we can resolve this within the first quarter,” said The UCME is used to subsidize the more expensive cost of providing electricity in off-grid areas, as authorized by the Electric Power Industry Reform Act of 2001 (Epira).
Dimalanta added that it is too early to say if the results of an ongoing review will result in additional cost for on-grid consumers.
“It will be premature to say at this point because the open items for further evaluation will have a significant impact on the decision,” she said.
A contentious issue cited by the ERC chief is NPC’s claim on a 12-percent return-on-rate base (RORB),
which the state firm claims it is entitled every year.
“One of which is whether or not NPC is entitled to receive 12-percent RORB on top of its cost recovery for missionary electrification. The Commission has previously denied this claim, given that UCME is already a subsidy provided by end-users, but NPC asked for reconsideration,” Dimalanta said.
The NPC said it is allowed to include a 12-percent return on its rate base composed of the sum of its net assets in operation plus two months operating capital in the revenue requirement.
“NPC’s position is that Epira did not repeal the provision in their charter as regards RORB, so their claim is that, as a rule they, are still entitled to RORB every year,” added Dimalanta.
Senator Sherwin T. Gatchalian had said that the UCME subsidy has steadily increased over the years, from P7.34 billion in 2015 to P24.62 billion in 2024. He wants NPC to think of ways to reduce UCME subsidy to possibly bring down electricity rates for consumers connected to the main transmission grid.
“Look for ways to reduce UCME.
I know that hybridization is one and connecting to the grid could be another,” Gatchalian had told NPC officials at a Senate hearing last year on the proposed budget of the NPC, which is mandated by law to energize far-flung, off-grid areas, and islands in the country.
The islands of Palawan and Mindoro account for about 60 percent of the UCME subsidy, Gatchalian said, citing data from the Department of Energy (DOE).
The lawmaker suggested that NPC accelerate the hybridization of its Small Power Utilities Group (SPUG) diesel power plants using renewable energy (RE) resources.
“I’m very optimistic that one day, the benefit of hybridization and rationalization of the UCME would translate to lower subsidy,” he said.
According to the NPC, hybridization lowers the cost of energy by P2 to P3 per kilowatt hour (kWh). The NPC had said that with the completion of hybridization for 16 projects, the NPC expects to generate up to P1.3 billion in savings from fuel costs by 2025. The NPC, however, accounts for only 30 percent of the energy supply in missionary areas, while 70 percent is provided by new power providers (NPPs).
“How do we convince the NPPs, which account for 70 percent, to hybridize? I understand they have supply contracts, so we should explore the possibility of incentivizing or compelling them, if necessary, to hybridize. The UCME subsidy is steadily increasing,” the senator said. At the same time, Gatchalian urged the NPC to pursue a rationalization
January 22, 2025
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study of the UCME that the DOE has conducted.
“I am not suggesting that we impose the true cost of energy because if you do that, it might discourage business establishments, and they might leave and cause massive unemployment. But we need to find the right balance,” he said.
Previous NPC filings stated that NPCproposedUCMETrue-upfor2022 amounting to P14,828,809,742.90 for 12 months recovery period, or an equivalent monthly rate of P0.1244 per kWh.
“The grant of provisional authority or interim relief will also help alleviate the financial burdens of NPC is currently experiencing. Due to the rise of prices of fuel, NPC is now operating on a loss just to sustain and deliver power in the missionary areas and to pay NPPs and qualified third parties their UCME subsidies,” NPC had said.
The ERC earlier granted NPC a final UCME rate of P0.1561 per kWh for 2015 to 2016 in its September 2021 decision.
In 2015, the average fuel rate is only P26.7 per liter. This shoot up to P62.84 per liter in 2022 due to the Russia-Ukraine conflict.
The NPC said the last approved UCME rate was no longer sufficient to cover the expense incurred in 2022. Hence, the shortfall requires a provisional authority to ensure an uninterrupted electricity supply, as this would augment the funding requirements given the increasing demand for energy in line with the government’s thrust of economic development in the off-grid areas.
ICTSI subsidiary opens storage hub
By Lorenz S. Marasigan @lorenzmarasigan
NTERNATIONAL Container
ITerminal Services Inc. said on Tuesday its Ecuadorian subsidiary has inaugurated the Guayaquil Banana Gateway, Ecuador’s first on-dock cold storage facility, marking a significant leap in the country’s banana export capabilities.
A62-megawatt peak (MWp) solar power project of Solaris Inc., an affiliate of Palm Concepcion Power Corp. (PCPC), is targeted for completion by end of the year.
On Tuesday, the PCPC said Solaris signed an engineering, procurement, and construction (EPC) contract for its 62.01MWp solar project in the Municipality of Ajuy, Province of Iloilo. The signing of the EPC contract between Solaris and China Energy Engineering Group Northeast No. 1 Electric Power Construction Co. Ltd. (NEPC) marks the official start of the solar project’s implementation, accelerating the company’s 1000MWp renewable energy installation target in the next five years.
The construction of the said solar project commenced this month.
Upon completion, the Ajuy Solar Project is projected to generate 94.32 gigawatt hours (GWh) of clean energy each year, enough to supply electricity to over 25,000 Filipino homes yearround. This will also help the government achieve its 35% renewable energy target share in the energy mix by 2030. The project will also contribute to the economic growth of the Province of Iloilo and improve the power supply situation in the Panay Island. Lenie Lectura
THE Manila Electric Co. (Meralco) will tap a P75billion credit facility from local banks to mainly support the company’s gas investment in Chromite Gas Holdings, Inc.
In a disclosure at the stock exchange on Tuesday, Meralco said it will draw from its P75 billion credit facility with BDO Unibank Inc., Bank of the Philippine Islands, and Metropolitan Bank and Trust Company within the week.
The credit facility, which has a maximum amount of P75 billion, is payable in 12 years.
“The loan will be used to finance investments and other general corporate purposes of the company,” it said.
When sought for further comment, Meralco Senior Vice President and Chief Finance Officer
Betty Siy-Yap said via Viber that the amount will be used “for acquisition of investments in project Chromite.”
The deal involves Meralco’s power generation arm, Merlaco PowerGen Corp., and Therma Natgas Power Inc. of Aboitiz Power Corp. acquiring 100 percent of Linseed Field Corp., a natural gas terminal operating in Batangas City. This acquisition is done through a joint venture called Chromite Gas Holdings, which in turn bought a 67-percent stake in the South Premiere Power Corp. (SPPC), which owns and operates 1,278 megawatt (MW) Ilijan power plant.
The SPPC is owned by San Miguel Global Power Holdings Corp. (San Miguel Global Power).
The LNG (liquefied natural gas) deal was already approved by the Philippine Competition Commission (PCC) but is subject to conditions aimed at ensuring fair competition and promoting transparency.
lection Process” to ensure power supply agreements are awarded through a transparent and competitive bidding process. This oversight aims to prevent collusion or unfair practices.
The acquired companies must also operate independently of their parent companies, with strict measures to separate IT systems, offices, and management to prevent coordination or undue influence. Boards of directors will include independent members, and internal trading units will operate independently of affiliates. To promote transparency, power plants must submit reports on unplanned outages to the PCC within seven days of reporting to the Department of Energy (DOE). Additionally, Competitive Retail Electricity Market reports must also be shared with the PCC.
The parent companies are also required to appoint a competition compliance officer to monitor the fulfillment of these commitments. The PCC will communicate to DOE and Energy Regulatory Commission the conditions imposed, as well as coordinate on the alignment of existing guidelines and policies with competition law and policy to curb competition concerns that may arise from similar transactions.
The conditions will remain in effect for five years, with possible extensions depending on market conditions. Violations could result in daily fines of up to P2 million per infraction, until the entity fully complies, in addition to other penalties and sanctions.
“These safeguards strike a balance between encouraging investments in critical energy infrastructure and ensuring a fair and competitive market that benefits consumers, businesses, and the broader economy.
L“Our cold storage facility not only transforms the way we export but also sets a new standard in the logistics industry. We will continue driving Ecuador to be synonymous with excellence in fresh produce exports,” Lancha said.
In a statement, Contecon Guayaquil CEO Javier Lancha said the ondock cold storage facility was developed to provide the terminal with uninterrupted cold chain preservation from cargo reception to shipment. This, he said, is expected to reduce waiting times, optimize processes, and guarantee that bananas—the country’s top export—reach international markets in peak condition.
By VG Cabuag @villygc
ISTED firm A. Brown Co. Inc. announced last Tuesday it is investing P2.5 billion to develop a portion of Misamis Oriental’s provincial capital property.
The company said it is forming a joint venture with the provincial government of Misamis Oriental for the project where it will develop the propert into a mixed-use complex.
This will include needed public infrastructure, construction of a high rise multi-purpose building, commercial and office buildings, a dormitory and a public park.
“The project is to be developed in four parts with total investment committed by the corporation of P2.5 billion,” A. Brown said in its disclosure.
A. Brown said phase one of the project will include the development and construction of office spaces, a commercial/shopping center, a park and parking facilities.
“Part 4 (phase two) of the project will include the development and construction of a multilevel
He added that Ecuador, the world’s leading banana exporter, is poised to benefit significantly from the facility’s advanced features, which enhance the efficiency and reliability of its supply chain.
ICTSI holds a 20-year concession agreement to operate the container and multipurpose terminals in Guayaquil.
mixed-use building with a dormitory,” it said.
“The JVA (joint venture agreement) is expected to be signed on January 23, 2025 after which the corporation will be making a more comprehensive disclosure on the final terms and conditions thereof,” the company said.
A Brown is in the middle of expanding its real estate projects, raising P1.5 billion in funding last year.
Last year, the company said that it is launching in Alexandrite Columns in Xavier Estates in Cagayan de Oro City, which will feature resort-like amenities such as multiple swimming pools and landscaped greens, to its residents.
A Brown also said that it is launching Coral Bay Suites in Initao, Misamis Oriental, a four-tower residential condominium project bayfront views.
The PCC emphasized that while the transaction supports the country’s energy security, the imposed conditions are vital to maintaining a competitive market. Key safeguards include PCC oversight of the “Competitive Se -
By addressing potential competition issues while supporting energy security, the approved transaction represents a key step toward bolstering the Philippines’ energy landscape,” the PCC said. Lenie Lectura
SALESFORCE Inc., a leading US-based customer relationship management (CRM) company, will launch its operations in the Philippines this year, according to the Department of Trade and Industry (DTI).
A statement the DTI issued last Tuesday following a meeting between Trade and Industry
Secretary Cristina A. Roque and Salesforce executives on the sidelines of the World Economic Forum in Davos, Switzerland. Roque reportedly met Executive Vice President and General Manager Adam Evans and Executive Vice President for Global Government Affairs Eric Loeb.
The Trade department said the entry of the US-based customer relationship management firm’s entry into the Philippines is expected to “create numerous job opportunities, boost the country’s digital transformation efforts, and strengthen its position as a key player in the Asia Pacific region.”
According to the DTI, Salesforce also plans to “empower” micro-sized, small-scale and medium-sized enterprises (MSMEs) and upskill Filipino
talent through partnerships with top universities and organizations.
The DTI said Roque welcomed Salesforce’s commitment to the Philippines, highlighting the country’s “investor-friendly policies, strong economic momentum, and talented workforce.”
The DTI added that Roque also invited Salesforce to establish a shared services facility in the country and emphasized the potential for collaboration on upskilling initiatives along artificial intelligence (AI).
“Salesforce’s decision to invest in the Philippines was influenced by the positive feedback from its clients about the country’s business environment and the government’s commitment to digital transformation,” DTI said in its statement.
The Trade department added that this “significant” investment “reinforces the Philippines’ growing attractiveness as a destination for global technology companies.”
As to the value of Salesforce’s investment into the Philippines and the number of jobs expected to be generated, however, DTI told reporters in a Viber message, “We’ll provide further details once available.” Andrea San Juan
New DBP Charter bill OK’d by solons
By Jovee Marie N. dela Cruz @joveemarie
HE House of Representatives
Thas approved a bill establishing a new charter for the Development Bank of the Philippines (DBP).
Through viva voce voting, lawmakers approved House Bill (HB) 11230, which seeks to strengthen the powers and functions of the DBP as the country’s premier development financial institution mandated to provide development financing and financial services to strategic sectors for the achievement of sustained economic growth.
The new charter underscores the DBP’s mandate to support government programs promoting economic growth and productivity in critical sectors such as the following: infrastructure; micro, small, and medium enterprises (MSMEs); education; healthcare; housing; environmental protection; and, other essential social services. These initiatives aim to contribute to sustained economic growth while ensuring the bank’s financial viability and competitiveness in the global market.
The DBP is tasked with serving as the government’s policy bank, implementing financing policies for priority areas, promoting competition in the financial markets, and fostering financial sector development to improve capital allocation and enhance macroeconomic stability.
HB 11230 prescribes a wide array of powers and functions for the DBP, which include: exercising powers under Republic Act (RA) 11232 (Revised Corporation Code) and RA 8791 (General Banking Law of 2000); serving as the official depository for the National Government, government agencies, government-owned and controlled corporations (GOCCs), local government units, and autonomous regions; managing trust funds, properties, and trust corporation business; establishing its legal insurance fund or obtaining coverage from reputable insurers; engaging in financial leasing of properties for government projects; issuing common and preferred shares, subject to the Secretary of Finance’s approval; and, issuing bonds, securities, and other financial instruments domestically and internationally.
The bill provides for a substantial increase in the DBP’s authorized capital stock—from P50 billion to P300 billion—divided into three billion common shares with a par value of P100 per share. Of this, the national government will subscribe and fully pay P32 billion, representing 10.67 percent of the total shares. Additionally, the DBP is authorized to allocate unrestricted retained earnings to boost its paid-up capital stock.
The bank’s Board of Directors will consist of nine members, including four regular directors, three independent directors, and two ex-officio members: the Secretary of Finance as Chairperson and the Secretary of the National Economic and Development Authority. The DBP President will serve as Vice-Chairperson and Chief Executive Officer. Directors will be appointed by the President of the Philippines, with tenure, remuneration, and duties outlined in the bill. HB 11230 provides exemptions for the DBP’s collaterals, securities, loan guarantees, and credit accommodations from court attachments, executions, and insolvency proceedings unless all debts owed to the bank have been cleared. It also includes provisions safeguarding the confidentiality of client transactions and accounts while penalizing unauthorized disclosures or improper actions by bank employees.
The measure empowers the DBP to reorganize its structure to align with industry trends, incentivize early separation for employees, and improve succession planning under Republic Act No. 10149. It also allows the temporary appointment of directors for urgent actions in subsidiaries where a quorum is unavailable. These subsidiaries include the DBP Leasing Corporation, DBP Data Center, Inc., and the Al-Amanah Islamic Investment Bank of the Philippines. The bill repeals Executive Order No. 81, which previously governed the DBP’s operations, thereby paving the way for a more modern and responsive framework for its growth and development.
Banking&Finance
BSP hopeful of exit from FATF grey list
By Cai U. Ordinario @caiordinario
THE Bangko Sentral ng Pilipinas (BSP) remains hopeful that the Philippines could receive good news in the upcoming meeting of the Financial Action Task Force (FATF) Plenary and Working Group Meetings next month.
was moved to February 13 from the initial schedule of February 20. The FATF meetings are slated for February 17 to February 20.
“We won’t really know until the plenary in Paris. We are hopeful that we will hear good news,” Remolona told the BusinessMirror on Tuesday.
The Philippines is currently working its way toward exiting the grey list of the FATF. The country was placed in the FATF grey list in June 2021.
The FATF flagged the country for supposed inadequacies in the effectiveness of the targeted financial sanctions framework (TFS) for both terrorism financing and proliferation financing.
BSP earlier noted that a grey list exit will benefit Filipinos, especially Overseas Filipino Workers, through
THE International Finance Corp. (IFC) extended $130 million (roughly P7.601 billion) to the Asialink Finance Corp. (AFC) to provide more financing support to womenowned businesses in the Philippines.
In a contract signing last Tuesday, Asialink Finance Group of Companies CEO Robert B. Jordan Jr. said at least 60 percent of the funds will be allotted to women entrepreneurs and the rest are for micro, small and medium enterprises (MSMEs).
There would be no restriction as to which specific industries or types of businesses would benefit most from the financing, Jordan added. Women are typically underserved and unbanked, Jordan said. “They lag versus the men. So that’s the reason why IFC is really pushing us to lend to the women entrepreneurs.”
A 2021 Bangko Sentral ng Pilipinas Financial Inclusion Survey revealed that only 20 percent of women own formal bank accounts compared with 26 percent of men.
“By addressing the financing gap, particularly for women-led MSMEs, we
faster and cheaper remittances and other cross-border transactions.
The Anti-Money Laundering Council also said FATF member countries can impose restrictions and additional checks, and possibly refusal of financial transactions with countries in the blacklist. This results in failed transactions, delays, and costs that may be passed on to the consumers.
However, in October 2024, the FATF said the Philippines has addressed the 18 action plan items that had kept the country in its “grey list” since June 2021 (See: https://businessmirror.com.ph/2024/10/26/ philippines-efforts-to-exit-fatfgrey-list-a-significant-milestonein-financial-security/).
The FATF is scheduled for an
are confident that this partnership will create lasting economic impact, foster gender equity in entrepreneurship, and further contribute to the growth and resilience of the Philippine economy,” Jordan said.
Aside from financing, IFC will also assist AFC in implementing an Environmental and Social Management System framework and responsible finance principles in line with international best practices.
“We hope to demonstrate the viability of lending to this sector and encourage other players to develop solutions that cater to MSMEs,” IFC Philippines Acting Country Manager Jane yuan Xu said.
“Every loan to an MSME can mean five, ten or twenty new jobs in local communities. And that’s what drives an economy forward.”
AFC said its partnership with IFC will boost its growth and reach, having supported 20,214 MSMEs in 2024, of which 12,048 are women.
Further, AFC aims to expand its reach nationwide, targeting to open more branches in Visayas and Mindanao this year.
onsite assessment which will verify the implementation of AML/CFT reforms done by the country and whether these are being sustained. Once this is confirmed, the country will finally be removed from the grey list. FATF President Elisa de Anda Madrazo, who started her term on July 1, 2024, said a site visit will be conducted to affirm the country’s progress and decide on its exit from the grey list. The visit will take place between now and February. Madrazo explained that an onsite visit will entail the arrival of a group of experts to a country to verify the progress that was reported to the FATF. After verification, the FATF will decide whether the country’s efforts merit an exit from the grey list.
Net income, IPO plans
THE AFC recorded a net income of about P1.7 billion as of the third quarter of 2024. For this year, AFC is targeting to earn P2.3 billion.
Jordan said the company will be offering new products this year. Aside from the cars and trucks as collateral for MSME loans, the firm is building its real estate collaterals to MSMEs to borrow against their properties.
Should AFC sustain its growth in 2025 and 2026, Jordan said the corporation might need to go to the capital markets for more equity. The plan
“In a country well governed, poverty is something to be ashamed of. In a country badly governed, wealth is something to be ashamed of.” Confucius, c.500 B.C.
ASTORy was once shared. When God created the world, He specifically considered the Philippines very special. He made it a tropical country, endowed it with rich natural resources, planted its history with various interventions from the different rulers of the world, provided its people with good intellect and features, and gave the people free will.
After several centuries and turnover of presidents, beset with a lot of crises and problems, the Filipinos prayed so hard and asked God for good government. In his usual gentle manner, God replied, “ you are so special that I provided you with all the things you need. I am sorry but governance is the only thing you have to do!”
I remember in one of my past trips, I was seated beside a bureaucrat from Taipei. He relayed to me that in the sixties, he made his first trip to the Philippines as their government’s delegate to an international meeting. He was amazed at our development then.
He thought the organizers of the meeting extremely valued his presence that they arranged for glass doors to open and close as soon as he approached the doors. He had his first paper napkin from Philippine Airlines and embarrassingly asked for some more from the stewardess so that he could share them with his colleagues back home. The Filipinos could manage English very well and could be at par with the world’s top businessmen. The Philippines seemed to have everything then. Now, he said that his country has more than automatic glass doors and paper napkins. I died a little when he compared our development to Taiwan’s, a territory that once looked up to the Philippines. The reality now: we have wealth
yet it is with a few and poverty has increased.
The mid-term election is forthcoming. As early as the last two months of 2024, we have seen lots of billboards/tarpaulins where likely candidates were featured and soon in accordance with set rules, those billboards/tarpaulins should be taken down only to be replaced by permissible campaign materials.
Interviews in various media outlets are becoming regular occurrences featuring aspirants for different positions—local government units and the legislature. A friend said, the biggest circus is on. All will be entertained and money will change hands from those rooting for candidates to the electorate. Technology has offered alternative modalities of transmission translating to minimum physical handling.
The political exercise will definitely cause “sharing of wealth” that will be recovered in some other ways by those who dispense them with immeasurable returns. And the saga continues.
One can only wish that our people be mindful of what is important for our country: to have good governance. The acceptance of pittance in exchange for the privilege to choose who will govern us translates to betraying our motherland and perpetuating the “trapo.”
Conchita L. Manabat is the President of the Development Center for Finance, a Trustee at the University of San Carlos, and San Carlos School of Cebu, Inc. She is a member of the Stakeholder Advisory Council of the Public Interest
Board and she
of the
The views she expressed here do not necessarily reflect those of the BusinessMirror
THE national government raised P30 billion through the sale of Treasury bonds (T-bonds) amid strong investor demand.
On Tuesday’s auction, the Bureau of the Treasury (BTr) awarded in full the 10-year tenor T-bonds with a remaining term of nine years and two days.
Investors offered to buy P93.320 billion, 3.1 times oversubscribed than the original offering of P30 billion.
y ields of the government securities averaged at 6.251 percent. The T-bond rate rose by 36.1 basis points from an earlier rate of 5.890 percent when the same tenor was last auctioned on December 10, 2024.
T-bond rates ranged from a low of 6.220 percent to a high of 6.270 percent. Meanwhile, the coupon rate settled at 6.250 percent.
However, the average yield was lower than the comparable 10-year Philippine
MBloomberg Valuation Service Reference Rates (PHP BVAL) rate of 6.33 percent as of January 20, 2025.
The yields went down after the recent downward correction in the comparable benchmark 10-year US Treasury yield, according to Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael Ricafort. The 10-year US Treasury yield went down to a new 3-week low of 4.53 percent from the immediate high of 4.81 percent on January 14, 2025.
In the coming months, T-bond yields would largely be a function of future trend of the comparable US Treasury yields, Ricafort opined.
“Ironically, the US Federal Reserve has already cut by a total of 1.00 since September 18, 2024, but the 10-year US Treasury yield has already increased by a total of +0.93 since then (could largely reflect the Trump risk premium),” the RCBC executive said.
This would make long-term funding more expensive globally amid increased bond issuances/supply globally recently, to partly hedge borrowing
ALABON CIT y To assist small business owners and improve the economy in Malabon, Mayor Jeannie L. Ng Sandoval announced that the city government will provide a 100-percent tax exemption to sari-sari store and carinderia businesses for the year 2025. Habang tayo po ay patuloy na nagbibigay ng serbisyo ay atin ding sinisiguro ang pag-unlad ng buhay at kabuhayan ng mga Malabueno. Kaya po aking ikinagagalak na i-anunsiyo na hindi na po kinakailangan ng mga sari-sari store and carinderia owners na magbayad pa ng buwis ngayong taon. Ito ay naipatupad matapos nating marinig ang inyong mga hiling. Makakaasa po kayo na patuloy tayong makikinig at aaksyon para sa pangangailangan ng mga Malabueno,” Sandoval was quoted in a statement as saying. The tax exemption took effect after the City Council approved City Ordinance 01-2025 or the “Pagbibigay-Luwag sa Buwis Negosyo ng mga Sari-Sari Store at Karinderyang Malabueno,” on January 7. It covers all sari-sari stores and carinderia in the city except for those engaged in other forms of business activities beyond their primary purpose such as sari-sari stores that also operate as car repair shops or carinderias that also function as entertainment venues like karaoke bars. The Business Permit and Licensing Office (BPLO)
Show BusinessMirror
‘Conclave’ leads race for British BAFTA film awards as thoughts focus on fires in LA
BY HILA�Y FOX & PAN PYLAS The Associated Press
LONDON—Papal thriller Conclave, which stars Ralph Fiennes as a cardinal overseeing the election of a new pope, leads the race—just—for the British Academy Film Awards, with nominations in 12 categories, one more than the genre-busting musical Emilia Perez
But with the wildfires in Los Angeles over the past week fresh in the minds of everyone in the movie industry, Wednesday’s announcement of the latest BAFTA nominations was restrained.
“Before we begin, on behalf of everyone at BAFTA, our thoughts are with colleagues, friends and peers and all those affected by the devastating wildfires in the Los Angeles area,” actor Will Sharpe said before he and fellow actor Mia McKenna-Bruce announced the nominations.
BAFTA chair Sara Putt would not say whether the fires may impact the ceremony, which is due to take place on February 16 at the Royal Festival Hall in London, hosted by Scottish actor David Tennant.
“The ceremony is a month away. It would be inappropriate and far too early to say anything about that,” Putt told The Associated Press.
The five films nominated for the best film award were Conclave, Emilia Perez, the 215-minute postwar epic The Brutalist, the Palme d’Or-winning comedy/ drama Anora and the Bob Dylan biopic A Complete Unknown.
The Brutalist had nine nominations, including leading actor for Adrien Brody, who faces stiff competition from Fiennes and Timothee Chalamet, who plays the young Dylan in A Complete Unknown.
The other actors nominated are Hugh Grant for his creepy role in the horror film Heretic, Colman Domingo in real-life prison drama Sing Sing and Sebastian Stan for his portrayal of a real estate mogul—a certain Donald Trump—in The Apprentice. Anora, the sci-fi epic Dune: Part Two and Wicked each received seven nominations. A Complete Unknown received six nominations, as did Kneecap, the Irishlanguage hip-hop drama.
The prizes—officially called the EE BAFTA Film Awards—are Britain’s equivalent of Hollywood’s Academy Awards and will be watched closely for hints of who may win at the Oscars on March 3.
Putt praised the variety in the nominations, noting that six different genres were represented on the best film list.
“There’s some really exciting stories in there and just a real glorious range of filmmaking this year,” she said.
She also highlighted that 14 of the 24 nominations in the acting categories were first-timers, and that whoever takes the best actress award will be a firsttime BAFTA winner.
Demi Moore has a chance, with a nomination for lead actress for her role in the body horror film The Substance.
Other notable nominations for best supporting actress were Selena Gomez and Ariana Grande for their roles in Emilia Perez and the musical Wicked
Like other major movie awards, Britain’s film academy has introduced changes in recent years to increase diversity. In 2020, no women were nominated as best director for the seventh year running, and all 20 nominees in the lead and supporting performer categories were white.
The voting process was changed to add a longlist round in the selection before the final nominees are voted on by the academy’s 8,000-strong membership of industry professionals.
One notable absentee from Wednesday’s shortlist was Denzel Washington, who had featured on the longlist released last month, and who had been nominated for his role as a bisexual scheming owner of gladiators in Ridley Scott’s Gladiator II
Edward Berger, the German-born director of Conclave, expressed his joy at the number of nominations received, including one for himself, but acknowledged the “strange” time to be celebrating when everyone’s thoughts are with the people of Los Angeles.
“To feel their strength is very, very inspiring,” he said. ■
FEMINIST READINGS TAKE CENTER
STAGE IN ON-SITE LECTURE
BODIES in Flux offers feminist readings of time, labor and becoming in artistic practice at the Museum of Contemporary Art and Design (MCAD) of the De La Salle-College of Saint Benilde (DLS-CSB) on Thursday, January 23. The talk is part of the public programs for the ongoing exhibition maria taniguchi: body of work. It is the first survey show of the internationally acclaimed visual artist which brings together some of her largest canvasses, key videos, objects, and site-specific commissions.
Dr. Rosallia Domingo, the vice chairman of the Department of Philosophy at De La Salle University (DLSU), will spearhead the session. Her research interests lie at the intersection of feminist philosophy, gender studies, and gender development, with a particular focus on gender equality and AI. She is likewise deeply engaged in feminist post-structuralism and posthumanism, in an exploration of how these theories challenge traditional notions of identity, power, and technology.
In Bodies of Flux, Domingo will provide another angle to view Taniguchi’s artworks. She will offer a feminist reading of French thinker Gilles Deleuze’s concepts of becoming and duration. The expert will expound on how Deleuze’s idea of becoming emphasizes fluid, transformative processes. She will draw on contemporary philosopher and feminist theoretician Rosi Braidotti’s nomadic subjectivity to explore embodied labor in artistic practice. Braidotti’s theory challenges fixed identities, viewing the body as a dynamic site of resistance. Through the lens of Deleuze and Braidotti, it critiques patriarchal frameworks to render a reimagined understanding of artistic labor as both a site of agency and embodied transformation, where labor and identity are fluid and resistant to mechanization.
The discussion will examine how repetitive, disciplined art-making externalizes gendered labor, and reframes it as an engagement with time and materiality.
Domingo holds an MA in Gender Studies from the Central European University, a private research campus in Vienna, Austria, and a PhD and MA in Philosophy from DLSU.
Bodies in Flux is free and open to the public. It is scheduled for January 23, 3 pm, at the Learning Commons of the Benilde Design + Arts Campus, 950 Pablo Ocampo Street, Malate, Manila. Interested participants can register via tinyurl. com/MCADBodiesinFlux.
By Eugenia Last
GEMINI (May 21-June 20): Taking on too much will tempt you. Consider your priorities and what will benefit you most. It’s essential not to take on someone else’s fight when you have personal battles to win. Show concern and offer suggestions, but don’t lose sight of your needs.
CANCER (June 21-July 22): You have more going for you than you realize. Don’t hesitate to step up and take over. Express your concerns and the changes you want to implement, and put your plans in motion. Stop waiting for someone else to fix things; it’s up to you to make things happen. ★★★★★
LEO (July 23-Aug. 22): Pay more attention to what’s happening around you. Observation will give you an advantage when the time comes to make a move. An emotional situation will escalate if you ignore the signals someone close to you is sending. Refuse to let uncertainty take over when a solution is necessary. ★★
VIRGO (Aug. 23-Sept. 22): You’ll be eager to please, and someone will be happy to take advantage of you if you can’t say no. Weigh the pros and cons before taking on someone else’s responsibilities. Chasing personal success is a better use of your time. ★★★★
LIBRA (Sept. 23-Oct. 22): Stick close to home, take care of your responsibilities and avoid arguments. Be open to suggestions, learn something new and explore avenues that help you stretch your skills to accommodate unique applications. Changing how you earn your living or handle cash will help you gain financial stability. ★★★
SCORPIO (Oct. 23-Nov. 21): Participation will lead to new possibilities. A lifestyle change will become a learning experience and a chance to test your skills and make improvements that help you stay in the game. Share your thoughts, feelings and long-term plans with someone who can help you achieve your dreams. ★★★
SAGITTARIUS (Nov. 22-Dec. 21): Count your pennies and use your money wisely. A tight budget will help you avoid being taken advantage of by someone eager to sell you something you don’t need. Trust your instincts, and protect your health, financial well-being and reputation. Avoid temptation and excessive behavior. ★★★
CAPRICORN (Dec. 22-Jan. 19): Stop analyzing, and fast-forward your plans. It’s what you do that will influence your status quo. Aim to reach your goal, please yourself and impress onlookers. Let your ambition rise and your talent carry you to the finish line. ★★★★
AQUARIUS
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COS CELEBRATES 2025 LUNAR NEW YEAR WITH LIMITED-EDITION COLLECTION
GLOBAL lifestyle behemoth COS celebrates the 2025 Lunar New Year and Year of the Snake, a time for fresh beginnings, renewal and opportunity, with a campaign highlighting new energy and good fortune. The collection features limitededition bags, bag charms, and a capsule of seasonal ready-towear pieces in a fresh color palette.
Four repurposed leather bag charms sit at the heart of the collection, merging modern design with traditional knots, each welcoming new possibilities for the year ahead. The charms feature hand-made decorations, each a little different from the next—elements that form the true essence of individuality. Mini bags in leather or suede complement the charms, which can be mixed and matched based on favorite color combinations or individual sentiments.
The Cross knot is associated with good fortune, bringing prosperity and new beginnings, complemented by Yellow Jade, symbolizing a long life. The Peace knot represents peace and harmony, while its Clear Quartz stone is believed to have healing properties and amplify positive energy. The Ice Blossom knot is thought to turn dreams into reality, and the Jade is believed to attract wealth, success and love. Finally, the Double Ear knot symbolizes a union of two people, with the Rose Quartz pairing representing all forms of unconditional love.
Continuing to celebrate the renewal of life, COS offers a capsule collection of ready-to-wear pieces that embrace spring’s vibrant and lively hues inspired by the harmonious coexistence of elements found in nature where new life begins. The collection highlights include soft knitwear, tailoring and accessories.
Alongside the collection, COS is collaborating with Chinese artist Amber Chen this Lunar New Year, showcasing pieces from Chen’s work, The Unwrapped-Wrapper. Her intricate hand-woven jacquards, inspired by traditional Chinese techniques, evoke the beauty and complexity of family ties. Golden ivory complements abstract red and blossom-like patterns, the designs symbolizing hope and good fortune for the year ahead. The capsule is available online and at the COS Store in SM Aura Premier.
Back on track
LIFE has a way of pulling us off track, whether it is due to personal setbacks, overwhelming responsibilities, or simply losing sight of our goals. When this happens, it is easy to get stuck in a cycle of frustration and inaction.
Last week, I dropped the ball in one of our presentations and I found myself fumbling and trying to regain traction but to no avail. It was an awful experience but thankfully a trusted colleague was there to pick up my slack. Well-meaning colleagues asked if I was okay but I could not avoid the overwhelming feeling of embarrassment and disappointment in myself.
A doctor checked me and discovered that my blood pressure was elevated which might have caused my shortness of breath. For the first time in a very long time, I felt I was not in control. That experience made me think deeply about what I could do to regain my balance and sense of control. Over the weekend, I realized that it is only possible by identifying what is causing me to feel off track, take intentional steps to address them, and adopt a change in perspective.
Here are some things I learned:
The first thing you need to do when things feel out of track is to take a moment to reflect on what is causing it. For example, if you have been feeling burnt out at work, ask yourself if it is due to long hours, unclear expectations, or a lack of work-life balance. Identifying the root cause is the first step toward change because once you know what you are dealing with, it becomes easier to think of ways to address them.
When life feels overwhelming, set clear priorities and focus on what truly matters. For instance, if you are juggling work, family and personal goals, write down your top three priorities for the week. Examples could be completing a key project, attending your child’s school event, and dedicating time for your significant other. Once you have a clear picture of what you need to do for the week, let go of tasks that are not urgent or important.
Then, start small. Big changes can feel daunting, so begin with small, manageable actions. If you have fallen out of an exercise routine, start with a 10-minute walk each day instead of aiming for an hour-long workout. A routine, even starting small, builds momentum because it provides structure and stability. If your mornings feel chaotic, try setting a simple routine: wake up at the same time, spend five minutes reflecting, and plan your top tasks for the
being overly critical of yourself. For example, if you missed a deadline, acknowledge that you are doing your best and use the experience to improve your planning next time. Remind yourself that setbacks do not define your journey and that it was only a bad day, not a bad life. When things go wrong, it is easy to go back to past mistakes and worry about it over and over again. The key to regain control and be on track is to be present in the moment. Practice mindfulness techniques such as meditation or journaling. One thing you can do is to write down three things you are grateful for so that you can ground yourself in the moment. This will also motivate you and give you the needed bost to keep going. When you see progress, celebrate it. Recognize
How drinking alcohol can affect your health
WITH the new year comes Dry January and a new surgeon general’s advisory on alcohol and cancer risk.
Moderate drinking was once thought to have benefits for the heart, but better research methods have thrown cold water on that.
“Drinking less is a great way to be healthier,” said Dr. Timothy Naimi, who directs the Canadian Institute for Substance Use Research at the University of Victoria in British Columbia.
US Surgeon General Dr. Vivek Murthy has called for updating the existing surgeon general’s health warning label on alcohol-containing beverages to include the risk of cancer. His proposal would require approval from Congress.
What’s the harm in drinking alcohol?
Drinking raises the risk of several types of cancer, including colon, liver, breast and mouth and throat. Alcohol breaks down in the body into a substance called acetaldehyde, which can damage your cells and stop them from repairing themselves. That creates the conditions for cancer to grow.
Thousands of US deaths per year could be prevented if people followed the government’s dietary guidelines, Naimi said. Those guidelines advise men to limit themselves to two drinks or fewer per day and women to one drink or fewer per day. One drink is the equivalent of about one 12-ounce can of beer, a 5-ounce glass of wine or a shot of liquor.
According to Murthy’s advisory, there are about 100,000 alcohol-related cancer cases and about 20,000 alcohol-related cancer deaths annually in the United States.
“As you consider whether or how much to drink, keep in mind that less is better when it comes to cancer risk,” Murthy wrote on the social media platform X.
What about moderate drinking?
That idea that moderate drinking has health benefits came from imperfect studies comparing
groups of people by how much they drink. Usually, that was measured at one point in time. And none of the studies randomly assigned people to drink or not drink, so they couldn’t prove cause and effect.
People who report drinking moderately tend to have higher levels of education, higher incomes and better access to health care, said Naimi.
“It turns out that when you adjust for those things, the benefits tend to disappear,” he said.
Another problem: Most studies didn’t include younger people. Almost half of the people who die from alcohol-related causes die before the age of 50.
Sometimes, an outside perspective can provide clarity and encouragement.
Life changes and so do our priorities. That is why you need to revisit and adjust goals as you see fit. Periodically review your goals to ensure that they align with your values and current circumstances. For example, if you initially set a goal to run a marathon but now prioritize family time, adjust your fitness goals to something more flexible, like weekend hikes with your kids.
Getting back on track takes time and effort. But with patience and persistence, you can regain control and find harmony in your life. Remember, it is not about perfection but progress and resilience. Take one step at a time and who knows how far you can still go
“If you’re studying people who survived into middle age, didn’t quit drinking because of a problem and didn’t become a heavy drinker, that’s a very select group,” Naimi said. “It creates an appearance of a benefit for moderate drinkers that is actually a statistical illusion.”
Other studies challenge the idea that alcohol has benefits. These studies compare people with a gene variant that makes it unpleasant to drink to people without the gene variant. People with the variant tend to drink very little or not at all. One of these studies found people with the gene variant have a lower risk of heart disease—another blow to the idea that alcohol protects people from heart problems. What do guidelines say?
Guidelines vary a lot from country to country but the overall trend is toward drinking less.
The United Kingdom, France, Denmark, Holland and Australia recently reviewed new evidence and lowered their alcohol consumption recommendations. Ireland will require cancer warning labels on alcohol starting in 2026.
“The scientific consensus has shifted due to the overwhelming evidence linking alcohol to over 200 health conditions, including cancers, cardiovascular diseases and injuries,” said Carina Ferreira-Borges, regional adviser for alcohol at the World Health Organization regional office for Europe. AP
SEAOIL AWARDS CASH INCENTIVE FOR ECT BOARD TOPNOTCHER
THE leading independent fuel provider in the Philippines, Seaoil has awarded a P100,000 cash incentive to the first beneficiary of its Angat Pangarap Program— Engr. Jose Reynaldo Cube.
Cube, who is a graduate of the Electronics Engineering program at the Pamantasan ng Lungsod ng Pasig (PLP), placed third in the Electronics Technician (ECT) board exams in October 2023 and is the first to receive an incentive from the Angat Pangarap initiative. This effort was launched in 2022 in partnership with the PLP and the Pasig City LGU. Angat Pangarap aims to inspire students to achieve academic excellence by pledging to reward top board passers from PLP, specifically those taking the licensure exams for nursing, teaching, accountancy, and engineering.
“Education is key whether or not you’re a topnotcher. Seaoil’s incentive is not just motivation for students, but it also instills discipline in themselves even at the undergraduate level. It also teaches them not to place too much pressure on themselves. Seaoil is a driving force and motivation to be a topnotcher in the board exams,” Engr. Cube said. Since the launch of the program, the college has noticed a significant increase in academic performance, as seen in high scores on board exams compared to before the program began.
“Seaoil is excited to recognize more dedicated scholars like Engineer Cube, who has not just dedicated time and hard work to succeed in the board exam. Our hope is that he and future board topnotchers inspire their peers to reach new heights,” said Mark Yu, Seaoil chief finance officer.
The Angat Pangarap program was set to run for only two years but will continue indefinitely. The unused allocations will be set aside to help fund PLP’s faculty training and research efforts to bolster the quality of education in the university.
PHOTO BY LLOYD DIRKS ON UNSPLASH
FROM left: Enge. Godofredo Zapanta, PLP’s dean for College of Engineering; Enge. Jose Reynaldo Cube, the first beneficiary of Seaoil Angat Pangarap Program; Mark Yu, Seaoil president for retail business and CFO; Jayvee dela Fuente, Seaoil vice president for corporate and consumer marketing.
IMAGES COURTESY OF COS
Aling Tindera, Mondelēz International Open Two New Plastic Collection Sites
MONDELĒZ International in the Philippines, in collaboration with its partners and rooted in its home community of Parañaque City, PCX Markets, HOPE, Barangay BF Homes, and SM Cares, recently announced the launch of two new Aling Tindera sites in Barangay BF Homes and SM City Sucat.
Mondelēz International is the maker of beloved brands such as Oreo, Cadbury Dairy Milk, and Toblerone. The Aling Tindera is a flagship initiative by impact organization HOPE and is a pioneering waste-to-cash initiative that provides communities with opportunities to earn additional income by collecting and exchanging plastic waste for cash at the sites.
This new action supports the snacks company’s commitment to its Sustainable Snacking strategy and focuses on helping to reduce environmental impact while promoting responsible consumption. Furthermore, the initiative is particularly meaningful as it directly benefits the local communities of Parañaque where Mondelēz International has been present
for the past 62 years, highlighting the importance of grassroots engagement and collaboration.
The Aling Tindera Program contributes to diverting plastic waste from nature, while educating the public on responsible waste management practices. In each site, residents can bring their collected plastic waste from home and exchange them for cash. By establishing these sites, Mondelēz International and its partners aim to inspire behavior change and provide sustainable livelihood opportunities for local communities.
“We believe that sustainability starts at the grassroots level,” said Caitlin Punzalan, Corporate and Government Affairs Lead at Mondelēz International.
“By expanding the Aling Tindera program in Parañaque, we are helping address a pressing environmental challenge while fostering positive change within the communities we call home. The biggest challenge in plastic waste collection is knowing where the waste can be brought so that it is properly diverted and does not end up as landfill or marine litter. We hope these new sites will help build the habit of collecting plastic waste in homes to give them new life and to avoid ending up in nature.”
In 2024, Mondelēz International also achieved key sustainability milestones, including attaining the PCX Market’s Plastic Cleanup Partner badge. This certification reflects the company’s ongoing commitment to reducing plastic waste in the Philippines including its extensive support for the Extended Producer Responsibility (EPR) Law. Since 2023, the company has pledged to collect the equivalent amount of the plastic packaging it puts out in the market and divert it from nature. This commitment goes beyond the percentage targets required by the EPR Law.
“We welcome and fully support the Aling Tindera site in our barangay,” shares BF Homes Barangay Captain Jeremy Marquez.
New BUCAS Center to rise in Mapandan, Pangasinan
Paula Paz
THE Department of Health (DOH) –Ilocos Region, in collaboration with the Region 1 Medical Center (R1MC), one of its apex hospitals located in Dagupan City, will soon establish the third Bagong Urgent Care and Ambulatory Services (BUCAS) Center in the town of Mapandan, Pangasinan. After a successful consultative meeting and strategic planning held on Janaury 11, 2025 headed by Regional Director Paula Paz M. Sydiongco together with Region 1 Medical Center Chief II Joseph Rolando O. Majia with the members of the local government of Mapandan, headed by Mayor Karl Christian F. Vega and the Sanguniang members, both parties have agreed to establish the BUCAS
Center which will improve the accessibility and health care services in the town, including its surrounding communities. Sydiongco said that they have already conducted site visit and ocular inspection of the area where the said BUCAS Center will be built. Itong mga tinatayo nating mga BUCAS centers will bridge the gap between primary care facilities gaya ng mga rural health units at mga higher-level hospitals at sila ang magbibigay ng urgent health care services para sa mga minor surgeries at iba pang ancillary services upang hindi na pumunta pa sa mga malalaking ospital para makapagpagamot [These BUCAS centers that we are building will bridge the gap
between primary care facilities such as rural health units and higher-level hospitals and they will provide urgent health care services for minor surgeries and other ancillary services so that they are not who even go to big hospitals to get treatment].”
Mas magiging focus din ang services dito dahil bukas ito ng 7 am up to 11 pm upang magbigay serbisyo sa mga pasyente na may mga trabaho at hindi makapunta sa mga health centers ng working hours, kasama na ang weekend to provide more medical care [Services will also be more focused here because it will be open from 7AM up to 11PM to provide services to patients who work and cannot go to health centers during working hours, including the weekend to provide more medical care].”
The BUCAS Center is one of the DOH flagship programs under the Modernization for Health Equity and “28 for 28 by 28” initiative to serve the 28 million Filipinos who are most in need of quality and accessible healthcare services.
The BUCAS Center in Mapandan is an initiative of Third District of Pangasinan Rep. Rachel J. Arenas who was also present during the meeting including Municipal Health Officer Karessa QuintoOrtiz, distinguished guest philanthropist Ashok Vasandani and R1MC management committee members.
Wallet Detox 101: Shake Off That Holiday Hangover with Maya
T HE holidays may have left your wallet feeling lighter than you’d like, but that doesn’t mean you have to sacrifice your style or comfort in the new year. If you’re ready to bounce back and keep your home (and life) feeling cozy without blowing your budget, Maya, the #1 Digital Bank App in the Philippines, has you covered! With these simple, practical tips plus Maya’s highyield savings and flexible credit options, you’ll be on track to start 2025 feeling financially secure and confident.
1. Run through Your Post-Holiday Finances THINK of this like a quick declutter session for your bank account. Gather those holiday receipts, check your statements, and determine precisely where your money went last December. Did impulse gifting or last-minute party expenses take a bigger bite out of your budget than expected? Maya makes it easy to track spending in real time, so you’ll know precisely where you stand and can set more realistic goals moving forward.
2. Try a One-Week Spending Freeze BEFORE you commit to a new monthly budget, give yourself a short “financial detox” to see what expenses you truly need. It could be pressing pause on non-essential buys or only covering the basics like groceries and bills. Afterwards, check your Maya app to see how much you saved and use that mini success as motivation to set a new monthly spending plan.
3. Stay in Control with a Prepaid Budget AFTER mapping out your financial plan, keep your day-to-day spending in check with the Maya Card. This debit card allows you to spend only what’s in your Maya Wallet, giving you a real-time grip on every peso. It’s perfect for everyday buys like groceries or a quick coffee run, minus the risk of overshooting your budget. You’ll also see your balance update instantly in the Maya app, so you know exactly where your money is going and can dodge impulse splurges.
It’s the ultimate passive way to recover from holiday spending while building toward something even better.
IN
are, from left,
“Our environmental protection team has already made it a priority project for 2025 and we will continue to leverage on these sites to ensure plastic waste is collected in our community and this action helps provide livelihood for out citizens.”
The successful establishment of the new collection sites underscores the importance of collaboration between businesses, local governments, and community members. Mondelēz International and its partners remain dedicated to driving innovative solutions that create shared value for people and the planet.
Could 6 be your lucky number this 2025?
FILIPINOS love to believe in the power of luck.
Whether it’s eating grapes under a table on New Year’s Eve or believing in one’s lucky numbers, the possibility of attracting good fortune brings hope to the year ahead. The number 6 holds significance across various cultures and belief systems, often carrying positive connotations. In numerology, it is associated with harmony, balance, and responsibility. Individuals associated with the number 6 are often described as compassionate, responsible, and dedicated to their loved ones.
As far as fulfilling financial plans go, perhaps 6 could be your lucky number this 2025 with Sun Life Secure Income, the latest offering from Sun Life Philippines.
A protection and savings plan, Sun Life Secure Income features a guaranteed annual cash payout equal to 6 percent of the face amount, currently one of the best in market. The payouts start from the end of the 6th policy year until you reach the age of 100. Beyond the payouts, there’s a Centenarian Bonus too, where 25 percent of the face amount of the life insurance benefit is paid out in advance on policy anniversaries following the centenarian ages 80, 85, 90, and 95. This provides an additional boost to your income and financial security in your later years.
So, whether you’re dreaming of traveling to your dream destination, starting a business, supporting your
STATE-OWNED Development Bank of the Philippines (DBP) has successfully raised P11 billion under its latest local bond issuance as part of efforts to diversify its funding sources in anticipation of increased lending activities this year, a top official said.
children’s education, or enjoying a comfortable retirement in your golden years, Sun Life Secure Income can give you the freedom to live life as you please.
At the core of this protection and savings plan is the life insurance coverage to ensure financial security for your loved ones. Perhaps Sun Life Secure Income can be a lucky charm for your finances, providing a steady flow of good fortune to support your lifestyle and aspirations. You can plan for your future with confidence, knowing that you have a reliable stream of income to support your needs.
Ready to make 6 your lucky number? For more information, visit sunlife.co/ SunLifeSecureIncome. Those interested in availing of the Sun Life Secure Income may get in touch with a Sun Life advisor via www. sunlife.co/TalkTo-SunLifeAdvisor.
4. Give Your Cash a “Spa Day” in High-Yield Savings ONCE you’ve taken stock, it’s time to let your money do the heavy lifting. Maya’s high-yield savings, offering up to 15 percent p.a., is like giving your cash a refreshing spa day. Whether you deposit a big chunk all at once or chip in smaller amounts throughout the month, watching your balance grow feels like a little win every single day. Want to take it a step further? Start fresh financial goals for the new year with Maya Personal Goals, where you can set up to five unique targets, each earning up to six percent p.a. until January 31. Need more structure? Try Time Deposit Plus—lock in your savings for three, six, or 12 months with rates as high as 5.75 percent per annum.
5. Lean on Maya Easy Credit for Emergencies SOMETIMES life just can’t wait for your monthly budget to catch up—like when you need a gadget
or
improvements as you enter the
Instead of draining your
savings, Maya Easy Credit
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To learn more, visit maya.ph or mayabank.ph. And don’t forget to follow @mayaiseverything on Facebook, Instagram, YouTube, and TikTok, plus @mayaofficialph on Twitter for more tips, tricks, and updates on how to stay budget-savvy all year long.
DBP President and CEO Michael O. de Jesus said that the Bank’s Fixed Rate Series 6A Bonds and Fixed Rate Series 6B Bonds were oversubscribed by five-and-a-half times over the minimum offer size of P2-billion.
“This latest bond issuance is a testament to the trust and confidence of the market in DBP as a government financial institution and allows the Bank to expand its funding sources even as it ramps up its lending activities in support of the Marcos Administration’s economic agenda,” de Jesus said.
DBP is the 10th largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy – infrastructure and logistics; micro, small, and medium enterprises; environment; social services and community development. The DBP Fixed Rate Series 6A bonds was offered
the photo
Mondelēz International’s Caitlin Punzalan, PCX’s Hazel Castro, HOPE’s Mia Azurin and Ilusion Farias, and BF Homes Barangay Captain Jeremy Marquez at the opening of the Aling Tindera site in BF Homes, Parañaque.
DOH - Ilocos Regional Director
M. Sydiongco led the strategic planning ang collaborative meeting for the establishment of a BUCAS Center in Mapandan, Pangasinan on January 11, 2025 together with officials of R!MC and local government officers of Mapandan.
Investing in FILRT provides higher yields
By Rizal Raoul S. Reyes @brownindio
If you are looking to invest in the real estate sector in 2025, filinvest REIT Corp. (fILRT), a real estate investment trust backed by the Gotianun-led filinvest Land, Inc. (fLI), is one of the solid bets.
FILRT president and CEO Mari -
cel Brion-Lirio, said an investor will get their money’s worth as FILRT has been consistently declaring dividends over and above the minimum required 90 percent of distributable income. Moreover, Lirio noted that the dividend yield of FILRT has been consistently above the average yield of the other commercial REITs combined. “Using the closing share price of FILRT last December 6, 2024, FILRT registered an annualized dividend yield of 8.3 percent against the average of all PH commercial REITs at 7.8 percent,” she said.
FILRT is run by professional management with over 75 years of combined experience in office leasing and real estate development.
Backed by one of the country’s major conglomerates under the leadership of the Gotianun family, FILRT has a huge land bank with at least 720,000 square meters of gross lease area (GLA) of commercial assets for potential infusion to the company.
Providing higher yields
Contractual escalation terms are built into about 90 percent of its leases, averaging 5.0 percent p.a. rental escalation overall. Further upside can also be expected as the occupancy rate increases. For inorganic growth, one of FILRT’s strategies is
FILRT’s portfolio consists of 18 properties totaling over 330k square meters. It has 17 Grade A
W H E n i nterest rates fall, investors tend to seek out alternatives with higher yields over traditional fixedincome investments such as bonds that typically offer lower returns. Meanwhile, REITs, which often provide consistent and higher dividend payouts, become more appealing in a low-interest rate environment. “As such, we may be able to see increased demand for REIT shares in general (including FILRT shares) which may lead to improved REIT share prices performance,” said Lirio. With the support of Filinvest Land (FLI), Lirio said FILRT has recently concluded a voluntary Tender Offer that provided FLI shareholders with the opportunity for their shares to be bought back in exchange for those of FILRT. She said the Tender Offer gave the FLI shareholders that participated a compelling opportunity to participate in REITs, gaining exposure to a portfolio of income-generating properties. On the other hand, the exercise enabled FILRT’s public float to expand to 46.68 percent, effectively creating room for further asset infusions. Lirio said FILRT aims to double its current GLA of 330,000 by acquiring dividend-accretive assets in the next three years, subject to prevailing market conditions. Moreover, she said FILRT has 720,000 sqm of potential asset infusion from FLI and the broader Filinvest group. Lirio said these are Grade A office buildings, retail assets under the Filinvest malls and townships portfolio, and hotels under the Crimson and Quest brands in key tourist destinations of the country.
office assets totaling over 300k square meters GLA of prime office space with a diverse and globally recognized tenant base. Geographically, 16 of the 17 buildings are in n o rthgate Cyberzone in Filinvest City in Alabang, while another building is located in the gateway of Cebu IT Park in Lahug, Cebu City. In
December 2022, FILRT also acquired a 29.1-hectare land located in the most prime section of Boracay, Aklan from its ultimate parent company, Filinvest Development Corporation (FDC). FILRT’s growth drivers are both organic and inorganic. FILRT has organic growth from fixed rental escalations.
WHE n it comes to real estate, location is everything. A property’s proximity to business hubs, lifestyle amenities, and thriving communities directly impacts its value and appeal. For investors looking to grow their wealth, Le Pont Residences by RLC Residences stands out as a strategic choice. Situated within the master-planned Bridgetowne Destination Estate that connects Quezon City and Pasig, this premium development offers unparalleled access to Metro Manila’s major business districts while presenting a host of investment advantages that make it a standout opportunity in today’s competitive market.
Prime location For maximum returns
A CCORDI n G t o a study by Colliers, properties in well-connected, mixed-use estates like Bridgetowne see faster appreciation rates due to their accessibility and comprehensive urban planning. Le Pont Residences benefits from its unique position in Bridgetowne, the only master-planned estate connecting Quezon City and Pasig. This accessibility is supported by direct routes via C5 Road and Amang Rodriguez Avenue and proximity to key landmarks such as PEZAaccredited office buildings within the estate and nearby, prestigious institutions like University of the Philippines Diliman and Ateneo de Manila University; world-class healthcare facilities
St. Luke’s Medical Center and The Medical City; plus lifestyle destinations including Opus Mall that is located at the estate’s core. This connectivity and convenience drive strong rental yields and consistent demand, ensur -
Le Pont Residences
Your wealth at the center of two mega cities: discover the investment perks of
ing that your investment remains competitive over the long term.
Proven value appreciation
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NEw SHda
LEadERSHIP CHaRTS BOLd aGENda TO addRESS HOuSING BaCkLOG aNd advaNCE SuSTaINaBILIT y IN 2025
The Subdivision and h o using Developers Association (S h DA), the Philippine’s foremost organization of housing and urban developers, has unveiled its 2025 leadership team with a renewed focus on tackling the country’s growing housing backlog and advancing sustainability in the sector. Under the leadership of Architect Leonardo B. Dayao Jr., who continues as Chairman, and newly elected National President e ngr. Francis Richmond Z. Villegas, S h DA is set to implement strategies that prioritise affordability, innovation, and regional collaboration to create a more inclusive and sustainable housing industry.
“The housing sector is at a critical juncture, and S h DA is committed to driving meaningful reforms and innovative solutions to address the country’s growing housing challenges. With the 2025–2040 h ousing Roadmap as our guide, we aim to foster stronger collaboration with government and private stakeholders, promote sustainability, and empower our members to deliver quality, affordable housing to Filipino families,” said S h DA Chairman, Ar. Dayao.
Building on the momentum of 2024, S h DA’s 2025 agenda focuses on addressing the housing backlog through strengthened partnerships and regional engagement. These efforts aim to tackle local concerns faced by developers in various regions and include plans to establish new S h DA regional chapters. S h DA also plans to enhance engagement with sponsors and partners through expanded networking events and collaborative agreements, ensuring mutual growth and benefit for developers, sponsors, and stakeholders.
e ng r. Villegas highlighted the importance of collaboration and grassroots support in achieving these goals. “Our primary focus for 2025 is sustaining S h DA’s collaborative partnerships with government agencies to continue lobbying for housing policies and initiatives. At the same time, we are committed to bringing services closer to our members by empowering regional chapters and addressing grassroots concerns. These combined efforts aim to make housing more accessible and sustainable while fostering
a deeper connection between S h DA and its stakeholders.”
S h DA continues its pledged support for the government’s Pambansang Pabahay Para sa Pilipino Program (4P h), which seeks to eliminate the housing backlog within six years. The association is working with public and private stakeholders to explore innovative solutions, including rent-to-own schemes and public housing programs, to cater to various segments of the population. Sustainability remains at the forefront of S h DA’s initiatives, with a focus on promoting climateresponsive designs, the use of indigenous materials, and green building technologies.
To enhance its members’ competitiveness, S h DA plans to conduct study tours in countries such as Thailand, Malaysia, and Vietnam to adopt best practices and innovative housing models. Additionally, the association is integrating emerging technologies, including artificial intelligence, to streamline housing production and improve developers’ operational efficiency.
Preparations are also underway for the 2025 National Developers Convention, which serves as a vital platform for industry collaboration. The event will bring together key stakeholders, including government officials, developers, and experts, to discuss actionable solutions for the sector’s most pressing challenges.
In 2024, S h DA made significant strides that laid the foundation for its 2025 agenda. One of its landmark achievements was the development of the Philippine h ousing Industry Roadmap (2025–2040), a comprehensive framework created in collaboration with national and local government agencies, academic institutions such as the University of Asia and the Pacific, private developers, and other housing organizations such as OS h DP, NR e A an d CR e B A. The roadmap identifies critical gaps in housing delivery and outlines strategies to reduce the housing backlog while aligning with the country’s economic goals.
The association also successfully lobbied for the adjustment of the socialised housing price ceiling, resulting in D h S UD-N e D A Joint Memorandum Circular 2024-001. This
policy increased the guarantee ceilings for low-cost housing to P4,900,000 and for medium-cost housing to P6,600,600, making homes more accessible to Filipino families. Additionally, S h DA championed the inclusion of housing in the government’s Strategic Investments Priority Plan (SIPP) for 2025–2027, which provides incentives to private developers. Legislative advocacy also played a crucial role, with S h DA engaging policymakers to address issues such as the removal of the land conversion requirement and the regular adjustment of socialised housing price ceilings.
Joining Dayao and Villegas on the 2025 leadership team are Arnold Leigh Ryan Choa as 1st Vice President, Atty. Mena R. Ojeda Jr. as 2nd Vice President, Atty. Marianne Reyna Lina-Cruz as Corporate Secretary, Kerwin Padua as Assistant Corporate Secretary, e d gardo Tantoco as National Treasurer, Jazmin Paz Trinidad as Auditor, and Renelyn Tan-Castillejos as Chief Marketing Officer. S h DA’s Board of Governors consists of Grandii Abarico, Russell S. Lim, h erbert Joseph G. Tan, Gena Valerie U. Chua, Regina h ah n Siy, and Cesar Lee h i ong Wee, Jr. Regional leaders from South Luzon (Dennis R. Leveriza Jr.), Central Luzon (John Paul T. Dy), Central Visayas (Anthony L. Noel), e a stern Visayas (MGen. Rufo A. De Veyra), Negros (Steven
Mariano D. Martinez, May P. Rodriguez, George T. Siy, and Rosie S. Tsai. As the largest industry association of housing developers in the Philippines, S h D A remains committed to championing inclusivity, sustainability, and innovation. With its 2025 leadership team at the helm, the association is prepared to deepen its impact and drive meaningful progress in the housing sector.
FILRT president and CEO Maricel Brion-Lirio
Japanaese
By Aldrin Quinto
winner Aguri Iwasaki
APAN Tour
Jbraces for a tough week at the club he called home for years before turning pro as he sees action in the Smart Infinity Philippine Open starting on Thursday at the Masters Course in Carmona, Cavite.
Iwasaki helped propel Southwoods to three titles in the Philippine Airlines Interclub, the country’s premier club team competition, and familiarity with the Masters gives him an edge in the battle for the trophy and the lion’s share of the $500,000 (P29 million) prize pot.
“After that, [I turned] pro,” Iwasaki said. “But [this is very much] my home. [I have] lots of friends here.”
The 27-year-old Iwasaki, who has played two practice rounds, said the setup at the Jack Nicklaus-designed course has made the already challenging course much tougher even for top pros.
Still very difficult,” he said “Par-70, [it will be] very hard.” Nos. 4 and 15 have been reconfigured as par-4s, with the 7,200-yard course set up as a par-70 for the first time as the Philippine Open returns to the Asian Tour calendar after nine years.
“[It’s been] five years,” Iwasaki said. “[The course] is still beautiful [but] very hard, especially if [it] becomes windy.” Heading the cast are Thailand’s Suteehat Prateeptienchai, winner of two titles last season, and reigning Indonesia Open champion Steve Lewton of England, along with 2022 Asian Tour Order of Merit champion Sihwan Kim of the US and 2019 top earner Jazz Janewattananond of Thailand.
A ngelo Que, another Southwoods product, is banking on course familiarity as he seeks a return to the Asian Tour winners’ circle.
“The good thing going for us is that we [those familiar with the course] know where to miss,” said Que, winner of three Asian Tour titles including the 2008 Philippine Open at Wack Wack.
“I t will take a long
at
MELBOURNE, Australia—Coco Gauff’s retooled forehand and serve abandoned her in the worst way and at the worst time at the Australian Open. The unforced errors just kept accumulating, and so did the double-faults and break points, often followed by a palm placed over her eyes or a slap to a thigh. Add it all up, and Gauff’s trip to Melbourne Park—and her 13-match winning streak that dated to late last season—ended in the quarterfinals.
Never able to take control on a hot afternoon in Rod Laver Arena, the 2023 US Open champion was eliminated by No. 11 Paula Badosa of Spain, 7-5, 6-4.
CIGNAL erased the stigma of a previous numbing straight-set defeat and showcased its depth and resilience in trouncing Galeries Tower, 25-17, 25-20, 25-19, to regain a share of the lead in the Premier Volleyball League All-Filipino Conference at the PhilSports Arena on Tuesday. Vanie Gandler, stepping into a leadership role following the departure of skipper Ces Molina and Riri Meneses after the holiday break, delivered a standout 17-point performance.
TBy Josef Ramos
in LA 2028, thus the need to build from the bottom up, according to ABAP secretary-general Marcus Jarwin Manalo. Manalo said Paalam, Petecio and Villegas have started to reboot their Olympics campaign with the rest of the national pool at the Teachers’ Camp training facility in Baguio City. But age, Manalo said, is catching up on the Olympic heroes. They are not getting any younger,
King,
Buddy & PAL Interclub
Off day for Gauff Australian Open
Using tweaks to some key strokes, and a change to her coaching team after a disappointing end to her title defense in New York in September, the 20-yearold Gauff arrived in Australia with hopes of earning a second Grand Slam title.
“I feel like (at the) US Open, I was playing with no solution, so that was more the frustrating part. Today, I feel like I’m playing with solutions; I know what I need to work on. US Open, I needed to work on my serve,” Gauff said. “Not saying that my serve is where I want it to be, but I worked on it; obviously a big improvement. So I want to continue working on that, continue working on playing aggressive.”
“So I feel like I’m on the road to the right way, right path,” she said. “Even
Gandler’s relentless hitting set the tone for Cignal’s dominant win as the HD Spikers showed they remain a powerhouse even without two of their brightest stars.
The swift one-hour and 31-minute victory served as a redemption following their previous shutout loss to the Petro Gazz Angels last December 14—a defeat that ended a four-game winning streak and allowed the Angels to claim the solo lead before the holiday break. Gandler was well-supported on
so we have to take a look at our grassroots programs to find the next fighters for LA,” Manalo said. “But I believe they can still fight and represent Philippines in big events like the LA Olympics.”
Paalam will be 30 years old, Petecio will be 36 and Villegas 32 when the LA Olympics are held July 14 to 30, 2028.
M analo said the ABAP has programmed a training camp in
though I lost today, I feel like I’m in an upward trajectory.”
The American entered Tuesday with a 9-0 record in 2025; she also won her last four matches of last season to collect the trophy at the Women’s Tennis Association Finals in November.
“Just a lot more work to do,” Gauff said after the one-hour, 43-minute loss to Badosa, who had been 0-2 in Grand Slam quarterfinals. “I’m obviously disappointed, but I’m not completely crushed.” Badosa now heads to her first Grand Slam semifinal at age 27.
“I’m a bit emotional,” Badosa said. “I wanted to play my best tennis. I think I did.… I’m super proud of the level I gave today.”
She kept the pressure on Gauff, who only briefly managed to showcase her
offense with Rose Doria-Aquino, Jacqueline Acuña and Ishie Lalongisip each contributing nine points with Judith Abil adding seven points.
B ut the game’s top performer was defense specialist Dawn Catindig, who protected the floor with 19 excellent digs that neutralized Galeries Tower’s attacks. We wanted to apply everything we’ve worked on in training,” said Catindig, who downplayed her stellar showing and credited the entire team for
April in South Korea with the national team focused on the world championships from September 4 to 13 in Liverpool, England, and the 33rd Southeast Asian Games in Thailand from December 9 to 20.
A sta ble of under-15 and under-17 boxers are also under the care of ABAP’s coaches and they are expected to see action in international tournaments this year.
Senator ‘Bato’ praises champ Zamboanga
skills. Gauff finished with 41 unforced errors, a total that included six doublefaults—including on the last point of the game that put Badosa ahead 5-2 in the second set—and 28 missed forehands.
Gauff had to contend with 10 break points and lost four of her 11 service games. She never earned so much as a single break point while returning until after she already trailed by a set and a break. One key game—and one that illustrated Gauff’s problems on this afternoon—started the second set. It lasted 22 points spread over more than a dozen minutes, and Badosa converted her fifth break chance after Gauff missed two forehands in a row.
Of Badosa’s 12 points in that game, 11 came via mistakes by Gauff, including
the victory. “I’m very proud of the team, everyone stepped up.” Setter Gel Cayuna also shone with 15 excellent sets while scoring three points of her own. Cayuna’s precise
seven errant forehands. Today,” Gauff said, “she did better in those key moments.” That sort of thing kept happening, and Gauff didn’t try to hide her dismay. After one error, she dropped her racket to the blue court.
W hen Badosa ended the quarterfinal with a forehand winner, she placed her hand over her mouth, then knelt on the ground. This was a big moment for someone who reached a career-best ranking of No. 2 in 2022, but then dealt with a serious back injury that made her contemplate ending her tennis career.
“I would never think that, a year after, I would be here,” Badosa said. “I’ve been through a lot. In the past, I was one of the best players in the world.” AP
Cignal player to contribute, including Caroline Santos, who sealed the game with a quick hit in the final moments. The HD Spikers tallied 46 attack points—seven more than the Highrisers—while adding five service aces without conceding any to their opponents. M olina an Meneses are reportedly pursing opportunities abroad.
NEVER able to take control on a hot afternoon, Coco Gauff is eliminated by No. 11 Paula Badosa of Spain, 7-5, 6-4. AP
VANIE GANDLER puts matters in her own hands in the HD Spikers’ victory.
AGURI IWASAKI’S playing on a course he calls home for years before turning pro.
