BusinessMirror January 29, 2025

By Andrea E. San Juan @andreasanjuan

THE Philippines should expect higher air freight rates due to expected tight capacity in February on the back of backlogs from January and the rising demand from the United States and European Union, according to Dimerco, a global

By Joel R. San Juan @jrsanjuan1573

TAXPAYER’S suit was filed before the Supreme Court seeking to declare unconstitutional Republic Act No. 12116, otherwise known as the General Appropriations Act of Fiscal Year 2025. In a 25-page petition, the petitioners argued that RA 12116 violated Article II Section 15 of the 1987 Constitution in relation

logistics services provider.

“Expect a 10-percent airline rate hike and higher fuel surcharges. Expect tight capacity in February due to backlogs from Jan and rising US/EU demand,” Dimerco’s February 2025 Asia Pacific Freight Report noted.

Dimerco noted that postChinese New Year production

to Sections 10, 11 and 37 of Republic Act No. 1123, also known as the Universal Health Care Act. They added that 2025 GAA also violated Article VI, Section 25 (1) of the Constitution when the respondents aligned the proposed appropriations under the 2024 National Expenditure Program (NEP), which in effect increased the proposed budget appropriations for Congress and other line agencies.

US aid to PHL worth $184M part of Trump admin review

By Malou Talosig-Bartolome

THE Philippines is seeking clarification from the US Department of State on what specific assistance programs or items are being reviewed by the new administration of US President Donald Trump.

An initial scan by BusinessMirror of published commitments made by the US government to the Philippines in 2023 and 2024 showed a total US$184 million.

In 2023, the US also committed US$40 million worth of foreign military financing program, and US$2.3 million worth of international military training and education/deliveries by the US Department of Defense.

In 2024, the US pledged US$142 million worth of economic assistance to the Philippines for a wide range of programs involving health,

education, environment, and energy sectors.

The US State Department had earlier ordered a pause on all US foreign assistance funded by or through the State Department and US Agency for International Development.

US State Secretary Marco Rubio said they are initiating a review of all foreign assistance programs to ensure they are “efficient and consistent with US foreign policy under the America First agenda” of President Trump. “Every dollar we spend, every program we fund, and every policy we pursue must be justified with the answer to three

simple questions: Does it make America safer? Does it make America stronger? Does it make America more prosperous?” Rubio said in a statement Friday.

Asked to identify the programs which were halted in the Philippines, the USEmbassy in Manila did not specifically say but referred to the website www.foreignassistance.gov.

Based on the site, there are around US$142 million (P8.3 billion) in economic assistance which are considered “obligations” to the Philippines in 2024, being based on binding agreements.

The biggest allocation is for the administrative costs and operating expenses for the USAID operations in the Philippines, worth US$11 million.

The other top obligations of the US economic assistance to the Philippines in 2024 are:

·

US$7.75-million Inspire Project with the NGO Gerry Foundation to save forests and biodiversity

·

US$6.7-million project to reduce number of deaths caused by tuberculosis

· US$6.5-million STD program including HIV/ AIDS

may also impact freight rates. The global logistics service provider then deduced that Philippine air freight sees constraints and higher costs in February.

epidemic control

·

US$6.3-million New Youth Activity for education

· US$6-million Sustainable Interventions for Biodiversity, Oceans and Landscapes (Sibol) project to help reduce environmental crimes and unsustainable environmental practices

·

US$5.4-million Energy Secure Philippines, to increase private investment to promote advanced technology deployment and boost energy sector’s resilience to shocks and stresses.

The program focuses on advancing inclusive economic growth and resilient development through increasing private investment in order to promote advanced technology

In a statement, the Philippine Department of Foreign Affairs said it “understands” that the US State Department and other US government agencies involved in the aid program are studying the executive order and how it will impact on US partnerships.

“The Department will continue to engage the US government on this matter.

“In their recent phone conversation, Secretary Manalo and Secretary Rubio underscored the importance of PHL-US alliance and committed to work towards strengthening security, economic and regional cooperation,” the DFA said.

As to the cost of shipping through air, the report has forecasted that air freight rates to Asia and Europe will remain stable. However, it may be more costly to ship to the US East Coast and West Coast as air freight rates are seen to rise in February.

The cost of transporting goods through sea, however, remains stable. The report noted that for Philippine shipments traversing the sea, “Ocean freight space and rates remain stable post-peak season but may vary with market conditions.”

Dimerco added that ports in the Philippines are expected to operate “normally” throughout the month.

Kathy Liu, Vice President for Global Sales and Marketing of Dimerco Express Group explained that with the change in power in the US administration, many customers rushed shipments from China to the US.

This, she said, caused a surge in activity in the airfreight market from late December through early January which it said is usually a slower period.

“As a result we might not see the usual peak season before Chinese New Year, especially for [Trans-Pacific Eastbound] TPEB routes,” Liu said.

Liu said Intra-Asia markets are still busy, particularly with raw material transfers and key destinations like Taiwan, Singapore, Vietnam, Indonesia, India, and Thailand are seeing strong demand.

As to the ocean freight market, the Dimerco report explained that the Houthis’ pledge to limit attacks to Israel-linked vessels could “en-

members, shall be subsidized by the national government.

The petitioners said GAA FY 2025 also violated Article XIV, Section 5 (5) of the Constitution as the budget appropriations to the education sector were merely bloated to give the impression of a “superficial adherence to the constitutional mandate” to assign the highest budgetary priority to education.

Finaly, the petitioners said the 2025 GAA violated Article VI, Section 27 of the Constitution when the Bicameral Conference Committee submitted a report with blank items on the GAA Bill.

Named respondents were the House of Representatives headed by Speaker Ferdinand Martin Romualdez, Senate of the Philippines represented by Senate President Francis Escudero, and Executive Secretary Lucas Bersamin. Among the petitioners are former Executive Secretary and 2025 senatorial candidate and lawyer Victor Rodriguez and Davao City Third District Rep. Isidro Ungab. They were joined by Rogelio Mendoza, Benito Ching, Redemberto Villanueva, Roseller dela Peña, Santos Catuba and Dominic Solis, being taxpayers and members of Philippine Health Insurance Corporation (PhilHealth).

The petitioners said the UHCA mandates that the premium contributions of indirect contributors, or those who do not have the capacity to pay premiums, or are unemployed, not self-earning, non-professions, and non-lifetime

Despite this, the petitioners said based on their review of the 2025 GAA, not a single centavo was allotted for PhilHealth due to its supposed P600-billion reserve funds, comprising its surplus and funds placed in investments.

The petitioners, however, insisted that the surplus and investment funds of PhilHealth are mandated for use to increase the program’s benefits and to decrease the amount of members’ contributions under Section 11 of UHCA.

“Instead of allocating said excess funds to decrease the amount of members’ contributions and to increase the program’s benefits in accordance with Section 11 of the UHCA which would have alleviated the latter’s burden of paying premiums after premiums to PhilHealth, said excess funds would not be utilized for the operational budget of the PhilHealth thereby deviating from the law’s goals,” the petitioners pointed out.

“All of this while the government, through the respondents’ own whim and caprice, is excused and exonerated from its express obligation to subsidize the contributions of indirection contributors.

“Worse, PhilHealth will be in no position to provide enhanced health benefits in accordance with the UHCA’s mandate and thus, would be violative of the constitutional right to health of all Filipinos, who are deemed as members of the PhilHealth,” they added.

The petitioners also assailed the constitutionality of the increase in the budget of the House and the Senate. They noted that the proposed budget for the House under the 2025 NEP amounted to P16.35 billion.

However, the proposed budget for the House under the General Appropriations Bill which was approved by the President, which led to the passage of RA

hance security in the region, ensuring safer and more efficient shipping across key maritime routes, including the Suez Canal.”

If the Suez Canal reopens due to the ceasefire, Dimerco said the “oversupply expected in 2024 will shift to 2025, as vessels would not need to route via the Cape of Good Hope. This will significantly impact rate dynamics.”

The global logistics service provider also explained that “reorganization” of ocean alliances in 2025 will “significantly” influence capacity allocation and shape the dynamics of ocean freight rates. Alvin Fuh, Vice President for Ocean Freight Dimerco Express Group said the beginning of 2025 saw “significant” changes in the global supply chain, including a new US administration and a ceasefire in the Middle East.

“A key question is whether the Suez Canal will recover and if shipping rates will return to pre-war levels,” Fuh said, adding that resuming routes through the Suez could cut transit times by 2 to 3 weeks and add significant capacity, but rates may not drop as quickly as expected.

“Carriers are likely to proceed cautiously, testing the route with smaller-sized vessels first to ensure safety,” the Dimerco official noted. Fuh explained that until now, insurers are still “hesitant” to support full operations due to uncertainty about the ceasefire’s stability. As a result, he said Suez recovery may be “gradual,” with changes possibly extending into the end of the first quarter or even second quarter of 2025. “If Cape diversions continue, long-term fixed rates—especially for TPEB contracts due in April— could stay higher than in 2024,” Fuh explained.

12116, amounted to P33.67 billion, or more than twice the initial budget proposal. For the Senate, its original proposed budget allocation was 12.83 billion but eventually increased to P13.93 billion in the 2025 GAA.

The petitioners said Article VI, Section 25 (1) of the Constitution prohibits the increase of the appropriations recommended by the President through the NEP.

“Equally questionable is the fact that, notwithstanding said increase, the President failed to exercise his veto power over the budget appropriations for Congress,” the petitioners stressed.

“It is beyond cavil that a blatant increase in the budget of the Congress at that, undertaken by Congress itself is violative of the constitutional mandate,” they added.

The petitioners also assailed the 2025 GAA for lumping the budget appropriations for the Philippine Military Academy (PMA), Philippine National Police Academy, and the National Defense College of the Philippines (NDCP), which are under the Department of National Defense as well as the Local Government Academy, Philippine Public Safety College (PPSC), Philippine Science High School System (PSHS) and the Science Education Institute (SEI), with the appropriations for the education sector.

They argued that the 2025 GAA was crafted to “superficially” adhere to Article XIV, Section 5 (5) of the Constitution.

“In all actuality, however, it is the infrastructure sector, through the Department of Public Works and Highways, which received the highest budget allocation in the amount of P1.034 trillion,” the petitioners said.

The petitioners claimed respondents committed grave abuse of discretion amounting to lack or excess of jurisdiction when it signed the committee report on 2025 national budget filled with blanks.

“Such irregularity is a blatant violation of the Constitution which should not be condoned,” they insisted.

Manila court issues HDO vs 30 policemen in bungled drugs bust

T‘China escalates aggression with use of acoustic device’

By Rex Anthony Naval

AChinese ships off the Zambales coast.

By Joel R. San Juan @jrsanjuan1573

HE Regional Trial Court in Manila has issued a hold departure order (HDO) against 30 policemen who were earlier charged with violation of Republic Act 9165 or the Comprehensive Dangerous Drugs Act of 2002 “for bungling the prosecution of drug cases” in connection with the seizure of 900 kilos of methamphetamine hydrochloride or shabu worth P6.7 billion in 2022.

Judge Gywn Calina of Branch 44 of the RTC in Manila issued the HDO more than a week after she issued an arrest order against the policemen.

Covered by the HDO are two police generals Benjamin D. Santos Jr. (retired) and Narciso D. Domingo and police officials identified as Julian T. Olonan, Dhefry A. Punzalan, Jonathan G. Sosongco, Carlos C. Bayeta, Hustin Peter A. Gular, Rommer I. Bugarin, Hassan O. Kalaw, Dennis L. Carolino, Joshua Ivan Baltazar, Nathaniel Gomez, Ashrap T. Amerol, Jer -

rywin H. Rebosora, Marian E. Mananghaya, Lorenzo S. Catarata, Arnold D. Tibay, Arnulfo G. Ibañez, Glenn C. Gonzalez, Michael Angelo C. Salmingo, Randolph A. Piñon, Mario M. Atchuela, Windel C. De Ramos, Silverio P. Bulleser I I, Emmanuele E. Docena, Alejandro F. Flores, Jhan Roland L. Gelacio, James G. Osalvo, Darius R. Camacho, Rodolfo B. Mayo, The court agreed with the prosecution that there is a strong probability that the accused will flee the country to evade arrest and prosecution of the offenses

charged against them, “in view of the gravity and nature of the case as well as their financial capacity to facilitate their departure.”

“Now, therefore, the Court hereby orders the Commissioner of the Bureau of Immigration to hold and prevent the departure of the accused hereunder named at any Philippine airport, seaport or any port and to include their name in the hold departure list of the said office,” the trial court ordered.

The policemen were charged with violation of Section 92 of RA 9165 which specifically provides: “Any government officer or employee tasked with the prosecution of drug-related cases under this Act, who, through patent laxity, inexcusable neglect, unreasonable delay or deliberately causes the unsuccessful prosecution and/or dismissal of the said drug cases, shall suffer the penalty of imprisonment ranging from 12 years and one day to 20 years without prejudice to his/her prosecution under the pertinent provisions of the Revised Penal Code.

Section 92 of RA 9165 is a bailable offense, thus, the trial court has fixed the bail amount for the temporary freedom of the policemen at P200,000 each.

A separate case for planting of evidence under Section 29 of RA 9165, a non-bailable offense, has also been filed against the policemen also in connection with the

Caap reports zero fatalities, fewer aviation incidents in ’24

TBy Nonie Reyes

HE Civil Aviation Authority of the Philippines (Caap) ended 2024 on a high note, reporting zero fatalities in 2024, as well as, a 48 percent reduction in accidents and serious incidents in 2024 compared to 2023.

Caap Director General Manuel Antonio Tamayo said that agency’s record in 2024 “un -

derscores Caap’s unwavering commitment to the safety and security of the nation’s air transportation system.”

Caap records indicate that the total number of accidents decreased from 13 in 2023 to just four in 2024. Serious incidents were also reduced from six in 2023 to four last year. All reported incidents last year were limited to general aviation and trainings,

while commercial aviation maintained a flawless safety record with zero accidents or fatalities.

Tamayo attributes this success to Caap’s rigorous implementation of safety programs, stricter oversight of aviation operations, and its collaboration with stakeholders in the aviation industry. The agency has continually prioritized enhanced pilot training, adoption of modern safety technologies, and

Asean rights group backs pleas to stop Manila Bay reclamation

By Jonathan L. Mayuga @jrsanjuan1573

THE petition filed by fishermen’s and environmental groups asking the Supreme Court to issue a writ of Kalikasan and a continuing mandamus to nullify all reclamation permits and Environmental Compliance Certificates (ECCs) granted to companies involved in reclamation projects in Manila Bay continue to gain popular support. The Asean Parliamentarians for Human Rights (APHR) is the latest to express its support for the petition.

The Department of Environment and Natural Resources (DENR) and the University of the Philippines’ Marine Science Institute (UP-MSI) are set to come up with the cumulative impact assessment of the reclamation and seabed quarrying projects within the first quarter of the year.

The petition filed in December last year directly responds to the widespread environmental dam -

age caused by these reclamation projects and their deleterious effect on the livelihoods of local fishermen and coastal communities. It also seeks to reinforce the intent of House Bill 2026, refiled by the Gabriela Women’s Party. It calls for the declaration of Manila Bay as a reclamation-free zone and imposes penalties for violations.

Malaysian member of parliament and APHR member, Lee Chean Chung, exclaimed, “we stand with Pamalakaya, Kalikasan, and the fishing communities in their brave fight to protect Manila Bay and the livelihoods of those who depend on it. The current reclamation projects are not only an environmental disaster but also a direct violation of human rights.”

These projects have already caused significant harm to the marine ecosystem and have drastically reduced fish catch, particularly in coastal communities that line Manila Bay. Reclamation not only disrupts the natural balance but also violates the right to a healthy environment for those who rely on

controversial anti-illegal drug operations.

The said provision states that “any person who is found guilty of ‘planting’ any dangerous drug and/or controlled precursor and essential chemical, regardless of quantity and purity, shall suffer the penalty of death” (now life imprisonment with the abolition of the death penalty).

The planting of evidence case is pending before the sala of Judge Danilo Leyva of Branch 175 of the RTC in Manila, who had also issued an arrest warrant against the accused on January 17.

The case stemmed from the alleged buy-bust operation against WPD Lending in Tondo, Manila that led to the arrest of Nely Saligumba Atadero and the seizure of 990 kilograms of shabu on October 8, 2022, as well as, the arrest of Msgt. Rodolfo Mayo Jr. during a hot pursuit operation the following day.

Mayo has since been dismissed from the National Police.

However, the Department of Justice (DOJ) held that the indictment of Mayo and Atadero “were predicated on the simulated operations” that the accused policemen conducted.

The testimonies of the policemen, according to the DOJ, were completely inconsistent with what actually transpired during the operations.

the promotion of a proactive safety standards.

Naging istrikto po kami sa pagprovide ng oversights sa mga air operators, certificate holders, iyong airlines, ATO or approved training organizations tapos iyong mga AMO or approved maintenance organizations. Hinigpitan po naming ang oversight diyan,” said Tamayo in a television interview.

Caap, he said, “remains committed to its vision of maintaining a safe and reliable aviation sector. The agency will continue to champion preventive measures, safety innovations, and proactive initiatives to ensure sustained progress and public confidence in Philippine aviation.”

ances for such projects, have failed to protect the environment and the rights of the Filipino people.”

the Bay for their survival.

“These projects threaten the very foundation of coastal communities, whose survival is intricately tied to the health of the Bay,” said Indonesian member of parliament and APHR co-chairperson Mercy Chriesty Barends.

“The failure of the Department of Environment and Natural Resources [DENR] and the Philippine Reclamation Authority [PRA] to uphold their duties only highlights the urgent need for legal action to stop this destructive practice,” she added.

In 2023, President Marcos ordered a moratorium on reclamation activities until the DENR completes a cumulative impact assessment.

Angelina Sarmento, Timor Leste member of parliament and APHR Board member expressed that, “considering the imposed moratorium, it is clear that the reclamation activities authorized by the DENR and PRA are illegal,” She added that, “these agencies, which are responsible for granting clear -

SENIOR Navy (PN) officer on Tuesday said that China’s, use of a long-range acoustic device (Lrad) against a Coast Guard (PCG) vessel patrolling the West Philippine Sea (WPS), highlights its “illegal presence” and “aggressive actions” in the contested waters.

“Use of the Lrad is an intensification of the aggression of the Chinese Communist Party in the WPS. It only highlights their illegal presence, their coercive and now more aggressive actions, and their deceptive messaging by saying that Bajo de Masinloc is part of their territory,” the PN spokesman for the WPS, Rear Adm. Roy Vincent Trinidad, said in a press briefing.

China’s Lrad use took place over the weekend against BRP Cabra (MRRV-4409), which was deployed to keep watch over

Trinidad also commended the men and women of the PCG, engaged in missions at the WPS, for standing their ground amid all of this increase in Chinese aggressive actions.

He also maintained that the Armed Forces (AFP) has been conducting regular patrols over the country’s land features in the WPS.

“The Air Force [PAF] has been conducting regular patrols over Bajo de Masinloc and all other features of the WPS. As for the PN, three weeks ago, our frigate conducted a patrol there. Two weeks ago, we had a unilateral Philippine exercise south of Bajo de Masinloc. So the PCG is there, the PN, the Armed Forces, the Air Force, the Army, the Navy, we are all there protecting our sovereignty in the WPS,” Trinidad said.

Fewer Chinese ships in Ayungin Shoal

THERE were relatively fewer Chinese ships off Ayungin Shoal during the rotation and resupply mission for the BRP Sierra Madre (LS-57) on January 24, a ranking Navy (PN) officer said on Tuesday.

In a press briefing, the Navy’s spokesperson for the West Philippine Sea (WPS), Rear Adm. Roy Vincent Trinidad, said Chinese ships detected in the first Rore for this year include two People’s Liberation Army Navy vessels, five China Coast Guard craft, two maritime militia and two rigid-hulled inflatable boats.

“Depending on the

previous [Rores], there [were] fewer [Chinese vessels] this time,” he said. The Armed Forces (AFP), in coordination with the Coast Guard (PCG), completed a troop rotation and resupply mission at the BRP Sierra Madre on Jan. 24. This Rore took place without incident.

“The AFP, together with the PCG, will continue to provide full support to our personnel, ensuring that they are equipped, cared for, and prepared to fulfill their duties in defending our national interests, especially in the WPS,” Trinidad added. Rex Anthony Naval

Construction of Davao bridge on track–DPWH

THE Department of Public Works and Highways (DPWH) on Tuesday reported significant progress in the construction of the 1.34-kilometer Davao River Bucana Bridge, which is now 73 percent complete.

APHR emphasized that these reclamation projects are not just environmental and economic failures—they are human-rights violations. They threaten the livelihoods of fishermen, who are already facing severe challenges owing to overfishing, pollution, and climate change. Sustainable development must prioritize people’s rights, health, and livelihoods, not corporate profits, it said.

The legal actions being taken by Pamalakaya and Kalikasan are part of a broader movement for environmental justice and human rights, and APHR will continue to support their efforts to defend the communities and ecosystems threatened by these harmful projects.

“We applaud the ongoing efforts to advance House Bill 2026, which reflects a critical step towards protecting Manila Bay from further reclamation projects,” concluded Charles Santiago, APHR cochairperson and former member of the Malaysian parliament.

He added, “We urge lawmakers in the Philippine House of Representatives and the Senate to give this bill the attention it deserves when it is lobbied this February.”

With this development, Public Works Senior Undersecretary Emil K. Sadain said the landmark project is on track for completion by the third quarter of this year.

The Bucana Bridge, a four-lane extradosed bridge, is designed to connect the eastern and western coastal areas of Davao City, offering an alternate route to ease congestion in the city center and improving access to key areas across the metropolis.

“Although recent rains in Mindanao have posed some challenges, we are confident that the Bucana Bridge will be finished ahead of

schedule. Our project engineers and the contractor are committed to expediting the work,” said Sadain. The DPWH aims to finish the project by November 2025, with the China Road and Bridge Corp. (CRBC) handling construction under a P3.126 billion contract. Funded through a China Aid Grant and additional support from the Philippine government, the Bucana Bridge will feature six spans and advanced structural elements, designed for navigational clearances to accommodate maritime traffic along the Davao River. Once operational, the bridge is expected to handle up to 35,000 vehicles daily, significantly improving traffic flow along Davao City’s coastal areas and supporting the city’s Coastal Road development. Lorenz S. Marasigan

Agusan farmers receive land titles

THE Department of Agrarian Reform (DAR) said it has distributed the long-awaited land titles to 30 agrarian reform beneficiaries in Prosperidad town, Agusan del Sur province. The Certificates of Land Ownership Award (Cloa) was distributed during simple rites as part of the government’s continuing effort to provide land to the landless through the Comprehensive Agrarian Reform Program (CARP).

In a statement, Provincial Agrarian Reform Program Officer Loida Jones described the distribution as a milestone in the ARBs’ journey toward empowerment and economic independence. “This marks a new beginning for the ARBs, enabling them to cultivate their lands and contribute to the growth of their community and the local economy. DAR Agusan del Sur remains steadfast in its commitment to supporting our farmers toward self-sufficiency and development,” Jones said. She encouraged the beneficiaries to protect and maximize the productivity of the lands granted to them. Ritchel Tumulak, administrative officer of DAR Agusan del Sur, highlighted the broader economic benefits of land ownership, noting that taxes paid by productive landowners contribute to the government’s revenue and pave the way for additional projects in the

Rice importers still under fire at House super panel

RICE importers remained under scrutiny as the House Quinta Committee, also known as the Murang Pagkain Super-Comm, continued its investigation into their role in sustaining high rice prices despite a reported landed cost of P36 per kilo.

During Tuesday’s hearing of the joint panel, chaired by Albay Rep. Jose Clemente “Joey” Sarte Salceda, lawmakers called for a deeper investigation into possible collusion and price manipulation in the rice industry.

Marikina Rep. Stella Luz Quimbo questioned the assertion that importers were not contributing to high prices, citing earlier findings by the House Committee on Agriculture and Food, chaired by Quezon Rep. Mark Enverga, regarding the onion cartel.

“Let’s just not dismiss hastily the possibility na merong cartel, may collusion, may magic na nangyayari sa presyo ng bigas at

may pagsasabwatan na ang pwedeng involved diyan ay ang mga importers,” Quimbo said. “ Kung P36 ang landed cost ng importers, bakit hindi natin nakikita ang P36 rice in the market? That’s the mystery. Something is happening,” she pointed out. Quimbo, acting chairperson of the House Committee on Appropriations, noted similarities between rising rice prices and the onion cartel, where importers and traders manipulated supply by controlling both local and imported stocks. A representative of the Philippine Competition Commission (PCC) reported ongoing investiga -

tions into rice importers operating in areas with significant imports but stagnant or high prices.

“We see the areas with deficiencies are also the places with high imports and the prices are not moving down, so we look into those importers in those areas,” PCC Enforcement Office Director Christian Loren delos Santos explained.

He confirmed that some importers have been identified but refrained from naming them while inquiries continue.

Quimbo pressed for more action, pointing out that the expectation of cheaper rice from imports has not materialized.

“ Doon sa mga lugar kung saan maraming rice importers ay natuklasan ninyo ay doon din ang mga presyo ng bigas ay hindi bumababa ,” she said.

Quimbo warned that importers might be leveraging both imported and local rice stocks to control prices, echoing patterns seen in the onion cartel investigation.

“If the importing entity is also the one that purchases the local produce, then they now control both local and imported, which was what we found with the onion

cartel,” she said.

Bulacan Rep. Tina Pancho agreed, as she highlighted the cascading effects of the pricing decisions of importers on the supply chain.

“I agree with the Hon. Stella Quimbo that we cannot disregard the participation of importers kung bakit nagkaroon tayo ng price increase,” Pancho said.

“Ang importer ang magdi -dictate ng price,” Pancho added, explaining how costs from importers pass through wholesalers, retailers, and ultimately to consumers.

But Salceda pointed out that imported rice only accounts for 22 percent of the country’s supply, compared to 78 percent sourced locally.

“How can 22 percent dictate 78 percent? Then it’s not the importer anymore,” Salceda said.

He, nevertheless, acknowledged the need for thorough scrutiny of the financial and operational practices of rice importers.

Salceda disclosed that the Anti-Money Laundering Council (AMLC) and the Bureau of Internal Revenue (BIR) are investigating rice importers to uncover any illegal profits or undeclared earnings.

DA waiting for BPI report on onion stocks

TBy Ada Pelonia @adapelonia

HE Department of Agriculture (DA) will wait for the final report of the Bureau of Plant Industry (BPI) before deciding on red onion imports.

“There are no plans to import red onions yet. I’m currently waiting for the BPI’s final report on stocks,” Agriculture Secretary Francisco Tiu Laurel Jr. told the BusinessMirror on Tuesday.

“The initial report should include red onion stocks up to March, but I had it audited to check if there were spoilages in the storage,” he added.

Data from the BPI showed that red onion and shallots inventory as of January 17 stood at 8,516 metric tons (MT).

The BPI data indicated that with daily consumption of 585 MT, the available stocks for red onions and shallots would only last until February 1.

However, Agriculture Assistant Secretary Arnel de Mesa said the depleted supply would be augmented since some planters have already started to harvest red onion in early January.

“Some farmers have already started to harvest this January. The peak harvest season for onions is January to March,” de Mesa told reporters on Tuesday.

“It was announced since last year that red onion stocks in cold

storage would last until February... the timing for dwindling stocks would coincide with the harvest season,” he added. All of the country’s red onion stocks last year were locally produced owing to a bumper harvest, which prompted the agency to withhold any importation order for the commodity.

Retail prices of red onions ranged from P100 to P180 per kilo in Metro Manila markets, based on the DA’s latest price monitoring report.

Meanwhile, de Mesa earlier said that the agency will build a command center by March to serve as a national database for agricultural commodities.

He noted that Laurel had ordered regulatory agencies such as the Bureau of Fisheries and Aquatic Resources (Bfar), the Bureau of Animal Industry (BAI), and the Bureau of Plant Industry (BPI) to coordinate with the command center.

“The Secretary ordered the regulatory[agencies] to coordinate with the command center to ensure that for this year, the regulatory offices know the production data and when it is necessary to import,” De Mesa said in a previous interview.

“Timing is important, as well as the volume, and should be very predictive to avoid over- or underimportation, especially for the commodities that we have control of,” he added.

Unicef to govt: Tighten rules protecting children’s health

By Bless Aubrey Ogerio

HE United Nations Chil -

Tdren’s Fund (Unicef) has urged the national government to strengthen regulations on products meant for children’s consumption, particularly breast milk substitutes, to address the country’s worsening malnutrition crisis.

Unicef on Monday said in a statement that one in four Filipino children suffers from

malnutrition, with nearly three million affected by stunting, which costs the economy over $3.1 billion annually in lost productivity.

The organization pointed out that agencies like the Food and Drug Administration (FDA) are key in making sure children’s products meet safety standards, especially in enforcing the Philippine Milk Code.

“The FDA’s decades of expertise in maintaining regulatory

frameworks ensures that children in the Philippines have access to safe, nutritious products that support their healthy development and empower their potential,” said Behzad Noubary, Unicef Philippines acting representative.

The National Code of Marketing of Breastmilk Substitutes, or Executive Order 51, oversees not only the quality of breast milk substitutes and supplements but also the marketing practices and

materials of the companies.

Unicef called for consistent cooperation across sectors to maintain strong regulations that ensure safe, nutritious products for children.

“To ensure infants receive safe and sufficient nutrition, it is essential to protect and promote breastfeeding while providing the public with accurate, consistent, and objective information about the appropriate use of breast milk substitutes, supple -

‘SC case vs 2025 GAA aimed at restoring ₧1.3 billion of OVP’

THE petition at the Supreme Court (SC) questioning provisions in the 2025 General Appropriations Act (GAA) is a deliberate attempt to destabilize the government and reverse the congressional decision to remove P1.3 billion from the Office of the Vice President (OVP) owing to supposed lack of transparency in the use of public funds, a House of Representatives leader said on Tuesday.

Deputy Majority Leader Paolo Ortega denounced the petition filed by Davao City Rep. Isidro Ungab, lawyer Vic Rodriguez and their allies, saying it is part of a larger political ploy to sow uncer -

tainty and undermine the administration of President Marcos.

The Acting House Committee on Appropriations chairperson, Marikina Rep. Stella Luz Quimbo, meanwhile, asserted that the ratification of the corrected bicameral conference committee report is unnecessary, citing Omnibus Provision 2 of the report, which was duly ratified by Congress.

“Our position is that the ratification of the corrected bicam report is unnecessary. This is simply because Omnibus Provision 2 of the Report, which was ratified by the members, allows for the possibility of corrections, within limits stated in Omnibus Provi -

sion 1 [typographical errors and adjustments as a consequence of amendments],” she said.

Ortega, a member of the House of Representatives’ “Young Guns,” called the SC petition a “calculated political gambit” meant to block the administration’s progress and disrupt governance.

“The petition filed by Rep. Isidro Ungab, Atty. Vic Rodriguez, and their allies before the Supreme Court questioning provisions in the 2025 General Appropriations Act [GAA] is more than just a legal maneuver—it is a calculated political gambit that exposes their intent to obstruct progress and destabilize the administration of

President Ferdinand Marcos Jr.,” Ortega said.

He accused the petitioners of trying to undo a constitutionally sound decision by Congress to cut P1.3 billion from the OVP’s budget.

“Let us not mince words: this petition is an effort to undo the decision of Congress to cut P1.3 billion from the budget of the Office of the Vice President, a decision rooted in Congress’s constitutional duty to ensure that public funds are judiciously allocated,” he said.

Ortega stressed that the move reflects a pattern of political maneuvering aimed at creating doubt about the legitimacy of the national budget.

ments, and related products,” Unicef said.

“This can be achieved through the implementation of strong regulations governing the marketing and distribution of these substitutes and related products,” it added.

Thousand Days, a maternal nutrition organization, highlighted the importance of proper nutrition during the first 1,000 days of life, saying “the brain grows more quickly than at any

“The motives behind this petition are suspect, to say the least. This is not just about budgetary provisions—it is about political leverage,” he said.

He warned that the real intent behind the legal challenge is to weaken the Marcos administration and pave the way for Vice President Sara Duterte to consolidate power.

“The narrative being constructed here is clear: Sow doubt about the legitimacy of the 2025 GAA, delay its implementation and weaken the administration. It is difficult to ignore the possibility that these moves are part of a broader scheme to undermine President Marcos and position Vice President Sara Duterte for an eventual takeover,” Ortega said.

Jovee Marie N. dela Cruz

other time in a person’s life and a child needs the right nutrients at the right time to feed her brain’s rapid development.”

The latest Expanded National Nutrition Survey revealed high rates of malnutrition, undernutrition, and unhealthy lifestyle behaviors in all age groups in the Philippines. (See: https://businessmirror.com. ph/2024/12/12/malnutritionlifestyle-risks-still-plague-pinoys-across-all-ages-survey/)

local government of Prosperidad. Sangguniang Bayan Member Rachel Blanco also inspired the ARBs, reminding them that the Cloa symbolizes both opportunity and responsibility.

“This title is not just a piece of paper but a symbol of responsibility. Transform this land into abundance for your families. Rest assured, DAR will stand by you every step of the way,” Blanco said.

The distribution was conducted through the Land Acquisition and Distribution (LAD) scheme under CARP, ensuring public and private agricultural landholdings are acquired by the government for redistribution to qualified beneficiaries, including tenants, farmers, farmworkers, and other tillers.

QC prosecutors junk assault, disobedience raps vs. VP Sara and chief security officer

TComelec to regulate influencer, artist endorsements for political candidates

By Justine Xyrah Garcia

S the official campaign period

By Joel R. San Juan @jrsanjuan1573

HE Quezon City Prosecutor’s Office has dismissed the direct assault, disobedience to authority and grave coercion complaint filed against Vice President Sara Duterte and her chief security officer in connection with the incident that transpired on November 23, 2024 at the Veterans Memorial Medical Center (VMMC).

In a 13-page resolution issued by Assistant City Prosecutor Criscelyn Carayugan-Lugo and approved by City Prosecutor Vimar Barcellano, the prosecutors ruled that the complainant failed to present sufficient evidence “to sustain a finding of prima facie evidence with reasonable certainty of conviction.”

“The alleged commission of direct assault, disobedience to authority and grave coercion is not supported by evidence,” the resolution read. Also exonerated was Vice Presidential Security and Protection Group (VPSPG) head Colonel Raymund Dante Lachica.

The complaint was filed by Quezon City Police District – District Medical and Dental Unit (DMDU)

chief Police Lieutenant Col. (PLTCOL) Van Jason Conag Villamor . Villamor claimed that Duterte and Lachica attacked, employed force, and made serious intimidation or serious resistance against him while he was trying to fulfill his task to bring Duterte’s chief of staff, lawyer Zuleika Tanglao to the Correctional Institute for Women (CIW) from the VMMC where the latter was rushed due to chronic back pains and panic attacks while being detained at the House of Representative detention facility after being cited in contempt by lawmakers.

Duterte and Lachica, however, denounced the accusations hurled against them by Villamor.

Duterte recounted that Lopez was supposed to be transferred from the House detention facility to St. Luke’s upon the instruction of the latter’s doctor who attended to her.

However, the Vice President said she was surprised when Villamor along with other police officers brought Lopez to the VMCC.

She also denied Villamor’s claim that he informed her of the purpose of their presence or the order they were tasked to enforce.

Duterte presented video footage showing Villamor deliberately attempted to slam the ambulance door on her, which could have caused her serious physical harm were it not for the people who timely intervened.

She described Villamor as “hostile and irreverent towards her,” and “completely remorseless and defiant as the policeman did not even bother to apologize.”

Duterte also invoked immunity from suit and criminal prosecution, being a president in reserve, as additional defense.

In ruling in favor of the respondents, the QC prosecutors held that acts of placing a hand over the chest, pushing, and shoving do not constitute attack of physical force, as claimed by Villamor.

Furthermore, the prosecutors pointed out that not one of the witnesses presented by Villamor corroborated his claims.

“The video footage submitted by him also negates his own asseverations. Being so, we are constrained to dismiss the complaint for insufficiency of evidence,” the resolution stated.

Likewise, the prosecutors held

that Villamor cannot be considered a person in authority because of his failure to establish that he was engaged in the actual performance of official duties at the time of the incident.

“Bringing a detainee from the HOR to a hospital is certainly beyond the official functions of PLtCol Villamor as a police officer,” the prosecutors said.

“As correctly pointed out by VP Duterte-Carpio and Col. Lachica, there is no scintilla of proof of his authority to implement any order from the HOR,” they added.

Aside from this, the OCP said Duterte and Lachica telling the police to back off does not amount to serious intimidation or serious resistance.

Likewise, the prosecutors ruled that Duterte’s acts against Villamor were justified because of the latter’s display of aggression by attempting to slam the ambulance door on her.

“Her reaction was spontaneous and legitimate outburst triggered by his provocation. Besides, she did not employ unnecessary force against him but only reasonable force to deter him from harming her,” the resolution said.

Advocacy group calls for Bataan Nuclear Power Plant revival to lower

By Lenie Lectura @llectura

NUCLEAR advocacy group Alpas Pinas

on Tuesday called for the revival of the Bataan Nuclear Power Plant (BNPP) in a bid to help the country achieve lower electricity prices.

“Help us advocate for the opening of the Philippine nuclear power plant because it is our fastest way to become a nuclear country because it is already there. We already have it. We can use it but we should advocate that we should open it,” said Alpas Pinas lead convenor Gayle Certeza during a news briefing.

Sen. Hontiveros

SCerteza and Pangasinan 2nd District Representative Cong. Mark Cojuangco said nuclear energy is reliable and affordable, making it an attractive alternative in the Philippines’ energy transition.

“Nuclear energy stands out as a costcompetitive option when both system costs and externalities are considered. Its reliable, low-carbon supply offers a pathway to affordable and sustainable energy solutions,” Cojuangco said. Certeza supported Cojuangco’s point, highlighting that the additional system costs associated with renewable energy tend to rise disproportionately with increased adoption, placing a heavy burden

on the energy infrastructure.

“At least with nuclear, the system costs will be a one-time investment, and there will be no need to create a backup source because the energy source is infinite, making this energy source cheap, that will fuel economic growth,” Certeza said.

Alpas Pinas remains steadfast in its advocacy, urging policymakers to act decisively and harness nuclear energy’s potential to drive economic growth, ensure energy security, and create a more sustainable future.

“Indeed, nuclear energy is the only clean, cheap, and reliable energy source this country needs to fuel economic growth.

power prices

If we don’t act now, the future of the Philippines may not be as positive as we believe it to be,” Certeza said.

It can be recalled that in 1984, the Philippines completed the construction of a 621megawatt electric (MWe) pressurized water reactor at the BNPP. However, the plant was never commissioned.

In 2022, a presidential executive order outlined the government’s position for the inclusion of nuclear energy in the country’s energy mix. The Philippines later announced its Nuclear Energy Roadmap aiming to have commercially operational nuclear power plants by 2032, with at least 1200 megawatts (MW) initially and increasing.

calls for collaborative effort to address out-of-school youth pregnancies

EN Risa Hontiveros appealed to concerned government agencies to explore strategies to address out-ofschool youth (OSY) pregnancies.

Also, Hontiveros underscored the need for collaboration among government agencies, educators and parents to address the incidence of teenage pregnancy in the Philippines.

During the inquiry of the Committee on Basic Education on Tuesday, Assistant Secretary Dexter A. Galban admitted that they can only monitor incidents of teenage pregnancy of “those that are within the school premises.”

“So out of school youth, teenage pregnancies on that regard, we might not be able to provide direct intervention if they are not part of the basic education system,” Galban said.

Hontiveros then thanked Galban for mentioning the issue on OSY.

“And salamatdinpo, Asec, sapagbanggit nyo na, syempre, ang saklaw lang ng DepEd ay within the school premises. Kaya importante na yung CSE (Comprehensive Sexuality Education) ma- implementa,

Sector. . .

ma-evaluate, continuously ma-improve, ma-iayos yung mali, mapuno yung gaps, also for out-of-school youth or communitybased youth,” Hontiveros said. “At may tulad sa aming mga magulang saeskwelahanand guardians and teachers, ma-empower dinyungmgamagulang and other responsible adults samgakomunidad, tulungan yung ating mga out-of-school youth, maiwasan ang teenage pregnancy. At kahit mabuntis na sila, manganak na sila, mabigyan ng social protection para magbalik-aral, magtapos, turuan yung paanonilaalagaanyungmgababiesnilaat matulungansilanamaiwasanangpaulitna teenage pregnancy,” she added.

CSE challenges

IN TERMS of the implementation of the Department Order 31 S.2018, Galban admitted that the initial challenge is the familiarity of teachers when it comes to the content.

And this was supplemented by conducting teacher trainings. It was included as part of the in-service training, which covers all teachers as part of their mandatory annual

training. But apart from that, we also pushed for the specialized training of CSE-oriented teachers, which, as I’ve mentioned earlier, about 400,000 teachers have been trained on that matter. And our goal is to hopefully eventually get all teachers accustomed to knowing how to effectively handle CSE as a topic for our learners,” Galban explained.

Galban also emphasized that DepEd prioritizes the specialized training of CSE for the teachers that are handling the older demographics, particularly those handling the adolescent age bracket, as intended to by law.

“And at the same time, we also had a bit of challenge, particularly in terms of coordinating with other government agencies that have pro-adolescent health and well-being services, particularly services that may be offered by the DOH [Department of Health] DSWD [Department of Social Welfare and Development], and the like, when it comes to a myriad of reasons on teenage pregnancy prevention, whether it be OSAEC [Online Sexual Abuse or Exploitation of Children] and CSAEM [Child Sexual Abuse or Exploitation Materials] or

several other considerations on that matter,” he furthered.

CSE to curb the rising number of teenage pregnancies and HIV

SEN . Sherwin Gatchalian, Chair of the Senate Committee on Basic Education, meanwhile, sought to improve the government’s CSE program to curb the rising number of teenage pregnancies and human immunodeficiency virus (HIV) infection among Filipino youth.

Gatchalian raised alarm over the 142,000 teenage pregnancy cases recorded in 2013 even as he noted its declining rate over the years.

He also flagged the “alarming” increase in HIV incidences involving adolescents, from 629 recorded in 2019 to 1,059 in 2024.

H e also cited a disconnect between the DepEd’s implementation of the CSE and the provisions of Republic Act No. 10354, more known as the Reproductive Health (RH) Law.

“We have to make sure that it is implemented uniformly in the classroom,” Gatchalian said. Claudeth Mocon-Ciriaco

Aapproaches, the Commission on Elections (Comelec) announced on Tuesday its plan to regulate influencers and artists who accept payments in exchange for endorsing political candidates on social media.

Comelec Chairman George Erwin M. Garcia said the Commission en banc is studying whether it should presume that all online endorsements are paid to prevent candidates from hiding under the guise of donations.

“Kinakailanganmapanagotdinsilalalo na pinag-uusapan yung income tax, yung mismong statement of contributions and expenditures (SOCE)... hindi naman sila pipigilan, ang sinasabi lang: hanggang anong extent yung pag-uusap nila?” he explained.

Garcia pointed out that it seems “unfair” for traditional media—such as radio, television, and newspapers—to be required to submit contracts with candidates while social media endorsements remain largely unregulated, especially since all forms of media are supposedly covered by the Fair Election Act.

He clarified that the Comelec is not prohibiting candidates from hiring online endorsers. Instead, the commission wants to ensure that proper taxes are paid and that candidates and endorsers comply with forthcoming Comelec guidelines.

“Technically, that is also evasion of what is required from a candidate to report to us in the SOCE. If, for example, an influencer or artist endorses someone, shouldn’t there be a declared amount for their appearance in a commercial or show? We can easily presume that this person accepted payment just to endorse the candidate,” Garcia said.

Online surveys IN ADDITION to online endorsements, the Comelec plans to study how online surveys, which show the leading national or local aspirants over a certain period, can also be regulated.

Garcia clarified that surveys are not prohibited but stressed the importance of properly disclosing key details, such as who commissioned the survey, the source of the respondents, the methods used, and other parameters involved in its conduct.

“ Hindikamiagainst sa survey, itoayconstitutional sabingSupreme Court. Titignan langnatinpaanonaiimpluwensyuhannito ang boto at pag-iisip ng mga kababayan natin,” he said. He also noted that if a survey is commissioned by a politician, it should be properly declared in their SOCE. After the elections, the Comelec plans to publish all SOCEs submitted by candidates to provide transparency on the overall campaign budgets.

T hese statements will be made available on the poll body’s official website.

Parents group voices concern over bill seeking to lower tobacco and vape taxes

By Claudeth S. Mocon-Ciriaco @claudethmc3

THE Parents Against Vape (PAV) has expressed alarm on the persistent efforts to lower tax rates on tobacco and vape products after 2nd District Ilocos

Sur Rep. Kristine Singson-Meehan filed House Bill 11279.

While lawmakers aim to stop the worsening illicit cigarette trade problem, PAV stressed that the health of Filipino youth should not be sacrificed by supporting the HB 11279.

If the bill will be passed, PAV expressed fear that it may cause significant health problems to young people like tobaccorelated cancer, heart disease and respiratory disease for tobacco and vape products will become more affordable.

HB 11279 seeks to temporarily suspend the 5 percent annual tax rate hike on cigarettes and other tobacco products until 2026.

“We don’t want to increase the number of cigarette smokers and vape

Continued from A1 PHL. .

The country’s Net Primary Income from the Rest of the World, however, was also revised downward to 19.2 percent from 19.3 percent. Meanwhile, the University of Asia and the Pacific (UA&P) Capital Markets Research said the Philippine economy is expected to fall short of the government’s growth target this year.

UA&P’s latest Market Call stated that fourth quarter GDP is expected to post a growth of 5.8 percent, leading full-year GDP growth to average 5.7 percent last year.

downward to 4.9 percent from 5.2 percent in the third quarter.

The PSA also said Gross National Income in the third quarter of 2024 was also maintained at 6.8 percent.

The Development Budget Coordination Committee (DBCC) earlier revised its growth target to 6 to 6.5 percent in 2024. The DBCC also revised the forecast to 6 to 8 percent between 2025 and 2028.

“Despite the second lowest unemploy -

ment rate achieved in November, the job gains did not fully restore those lost in October and higher inflation; to boot, we have scaled down our projections for Q4 Gross Domestic Product [GDP] growth to 5.8 percent, thus maintaining that pace for FY 2024,” UA&P said.

“This comes a little short of the government’s minimum target of 6 percent due to three super typhoons that battered the country in late October to mid-November,” it added.

However, UA&P Capital Markets Research expects the country’s inflation to be slower this month, despite higher crude oil prices.

The think tank said lower rice and other food prices will offset the increase in oil prices.

With this, inflation is expected to average 2.4 percent in the first three months of this year and could remain below 3 percent until the third quarter of the year.

Investment. . .

Continued from A1

MIC President and Chief Executive Officer Rafael D. Consing, Jr. made the remark after they completed their first ever investment pact by securing shares from the National Grid Corporation of the Philippines (NGCP) through the Synergy Grid and Development Philippines Inc. (SGP) on Monday. Under the agreement, SGP will sell 20 percent of its 40 percent NGCP shares to MIC.

“Intuitively for the year, we will aim for three to four material ones. So there’s more to come,” Consing told Palace reporters in an interview in Malacañang on Tuesday.

Continued from A14

Aside from studying English, Japanese tourists also visit the Philippines for diving (Cebu and Bohol) and to play golf (Tagaytay, Clark and Subic).

More

Japan-PHL flights

ASKED how DOT intends to increase more Japanese tourists to the Philippines, the DOT chief noted that among the requests of Japanese tourism stakeholders, when President Ferdinand R. Marcos Jr made a state visit to Tokyo in 2023, was the “improvement of online mechanisms as far as obtaining ESL student permits, and [flight] connectivity was also a big issue for them in terms of the convenience of arriving directly at our destinations.”

users. Tobacco products can be made less affordable through taxation. Increasing tobacco taxes can make these products more expensive, resulting in reduced consumption,” PAV said. Earlier, the Sin Tax Coalition also criticized the authors of HB 11279 for calling for a briefing of the Committee on Ways and Means to discuss the said bill. They call HB 11279 as “Sin Tax Sabotage Bill,” for allegedly failing to respect Ways and Means Chair Representative Joey Salceda’s previous decision to cancel the meetings to hear the mentioned bill. Initial estimates by the Sin Tax Coalition show that HB 11279 will lead to forgone revenues of P27.5 billion and 400,000 new smokers until 2030, versus the status quo.

Aside from Singson-Meehan, Ilocos Norte 2nd District Rep. Angelo Marcos Barba is also a co-author of the bill. Other co-sponsors of the bill are Deputy Speaker and Isabela 1st District Rep. Antonio Albano, Kabayan Party-list Rep. Ron Salo, Ifugao Lone District Rep. Solomon Chungalao and PBA Party-list Rep. Margarita Nograles-Almario.

Grasco gave no update on the fasttracking of ESL student permits, but said Philippine carriers are offering more direct flights between both countries. “The good news, recently announced was a Cebu-Osaka connection [from Cebu Pacific], which will add more opportunities for Japanese to visit Central Philippines and our neighboring destinations,” she said. The increased availability of more direct flight connections between both countries, in fact, is also one of the reasons Filipino tourists in Japan have dramatically increased. (See, “Pinoy visitors in Japan surge to over 818,666 in 2024,” in the B usiness M irror , January 24, 2025.)

He said they may announce their next investment after NGCP in the coming weeks.

“This [NGCP investment] is going to be our first announcement and intuitively, I’d say in the next 30 days, we could have another one,” Consing said.

He declined to give further details on which sectors the said investments will involve.

However, he said energy distribution projects particularly in Mindoro and Palawan will be among their priority initiatives. Nuclear, too MIC also said it is open to investing in nuclear power if it becomes available locally.

The MIC chief said they hope their first batch of investment deals this year will help build their track record as a credible

Frasco said the World Expo in Osaka, which opens in April, will also give the Philippines the opportunity to promote itself to more Japanese citizens, and other nationalities. The DOT and the Department of Trade and Industry will also be mounting a trade and tourism mission to Japan for the World Expo,“so that [we] can work together to bring more Japanese tourists to the country,” she added. Ma. Stella F. Arnaldo

manager of the Maharlika Investment Fund, the country’s first sovereign wealth fund, and help them attract more investors. President Ferdinand Marcos Jr. has been promoting the MIF in his overseas trips to help generate interest for it among foreign investors.

Consing said while they have received interest from some overseas parties to invest in MIC, they haven’t accepted the offers.

“So we want to build our credibility first and then we will open further,” Consing said.

“I think by the end of this year we should already have quite a number of foreign investors in the company. We just want to do this and then we will set up these other subthematic funds that I have been discussing before,” he added.

12. HUANG,

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13.

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14. LIANG, MIAN Mandarin Field Service Coordinator

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15. LI, JINFU Mandarin Site Officer

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and long-term goals.

16. SHEN, YANLI Mandarin Site Officer

Brief Job Description: The Mandarin Site Officer will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals.

17. XU, XIAOYU Mandarin Site Officer

Brief Job Description: The Mandarin Site Officer will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals.

18. XUE, CHAO Mandarin Site Officer

Brief Job Description: The Mandarin Site Officer will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals.

HELLOCONNECT, INC. 7th And 15th Floor Inoza Tower, 40th

Basic Qualification: Proven experience as Mandarin Site Officer. Excellent communication, interpersonal and presentation skills.

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Proven experience as Mandarin Site Officer. Excellent communication, interpersonal and presentation skills.

Salary Range: Php 30,000 - Php 59,999

63.

BusinessMirror

65. HUA, MINGQING Mandarin

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66. ZHOU, ZHI Mandarin Chief Officer

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67. LIU, CHAOPING Mandarin Chief Supervisor

Brief Job Description: The Mandarin Chief Supervisor will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals.

68. ZHOU, JIBIN Mandarin Chief Supervisor

Brief Job Description: The Mandarin Chief Supervisor will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals.

GONG, QINGSHAN Mandarin Deputy Managing Director

69.

Brief Job Description: The Mandarin Deputy Managing Director will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals.

70. GONG, QINGYONG Mandarin Deputy Managing Director

Brief Job Description: The Mandarin Deputy Managing Director

Basic Qualification: Proven experience as Mandarin Chief Supervisor. Excellent communication, interpersonal and presentation skills.

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Proven experience as Mandarin Chief Supervisor. Excellent communication, interpersonal and presentation skills.

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Proven experience as Mandarin Deputy Managing Director. Excellent communication, interpersonal and presentation skills.

Salary Range: Php 30,000 - Php 59,999

71.

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Editor: Angel R. Calso

Nvidia’s $589 billion plunge: Investor panic over AI rival DeepSeek sparks historic market selloff

By Carmen Reinicke

NVIDIA Corp.’s plunge, fueled by investor concern about Chinese artificial-intelligence startup DeepSeek, erased a record amount of stock-market value from the world’s largest company.

Nvidia shares tumbled 17 percent Monday, the biggest drop since March 2020, erasing $589 billion from the company’s market capitalization. That eclipsed the previous record—a 9 percent drop in September that wiped out about $279 billion in value—and was the biggest in US stock-market history.

The drop rippled through the rest of the market due to how much weight Nvidia has in major indexes. Including Monday’s slump, Nvidia selloffs have caused eight of the top 10 biggest one-day drops in the S&P 500 Index, based on market value, according to data compiled by Bloomberg. The S&P 500 fell 1.5 percent Monday and the Nasdaq 100 tumbled nearly 3 percent.

The semiconductor maker led a broader selloff in technology stocks

after DeepSeek’s low-cost approach reignited concerns that big US companies have poured too much money into developing artificial intelligence. The Chinese firm appears to provide a comparable performance at a fraction of the price.

The latest AI model of DeepSeek, released last week, is widely seen as competitive with those of OpenAI and Meta Platforms Inc. The open-sourced product was founded by quant-fund chief Liang Wenfeng and is now at the top of Apple Inc.’s App Store rankings.

“Concerns have immediately emerged that it could be a disruptor to the current AI business model, which relies on high end chips and extensive computing power and hence energy,” Jefferies analysts said in a note to clients.

Nvidia has been the biggest beneficiary of the influx in spending

on AI because they design semiconductors used in the technology.

While that heavy spending looks poised to continue, investors may grow wary of rewarding companies that aren’t showing a sufficient return on the investment.

Meta announced plans on Friday to boost capital expenditures on AI projects this year by about half to as much as $65 billion, sending its shares to a record high. That came on the heels of OpenAI, SoftBank Group Corp. and Oracle Corp. announcing a $100 billion joint venture called Stargate to build out data centers and AI infrastructure projects around the US.

In a bid to stall China’s progress in AI, the US has banned the export of advanced semiconductor

Asian shares mixed as tech giants tumble over Chinese AI competitor’s frenzy-sparking rise

By Yuri Kageyama Ap Business Writer

TOKYO—Asian shares were mixed in thin Lunar New Year trading on Tuesday after Wall Street’s tech superstars tumbled as a competitor from China raised doubts over the recent artificial-intelligence market frenzy.

Japan’s benchmark Nikkei 225 lost 1.5 percent to 38,959.05. Australia’s S&P/ASX 200 was little changed, inching down 0.1 percent to 8,399.10. Hong Kong’s Hang Seng rose 0.1 percent to 20,225.11. Markets in South Korea, Shanghai markets and other parts of the region were closed for holidays.

Among technology companies in Japan, SoftBank Group Corp. stock extended its losses, plunging 6 percent. Hitachi Ltd. lost 7 percent, but Fujitsu and Sony Corp. recovered. Computer chip maker Tokyo Electron sank 5.5 percent.

Fuji Media Holdings, rocked by a sex scandal, rose 1 percent after a marathon news conference overnight by its top executives that lasted more than 10 hours, in which two of them resigned to

take responsibility for the scandal. Fuji’s stock price has zigzagged in recent months amid Japanese magazine reports about “a problem” involving an anchorwoman and a Japanese male star. He has subsequently announced his retirement.

On Monday, the S&P 500 dropped 1.5 percent to 6,012.28, dragged down in large part by a 16.9 percent fall for Nvidia. Other Big Tech stocks also took heavy losses, pulling the Nasdaq composite down 3.1 percent to 19,341.83 for its worst loss in more than a month.

The damage was focused on AI-related stocks, while the rest of the market held up much better. The Dow Jones Industrial Average rose 0.7 percent to 44,713.58, and the majority of US stocks climbed. But anyone holding an S&P 500 index fund, which are found in many 401(k) accounts, felt the pain because of how influential those tech giants have become on indexes.

The shock to financial markets came from China, where an AI company called DeepSeek unveiled a large language model that can compete with US giants

but at potentially a fraction of the cost. DeepSeek had already hit the top of the chart for free apps on Apple’s App Store by Monday morning, and analysts said such a feat was particularly impressive given how the US government has restricted Chinese access to top AI chips.

It’s unclear, however, how much DeepSeek’s announcement will ultimately shake the economy that’s built around the AI industry, from the chip makers making semiconductors to the utilities hoping to electrify vast data centers gobbling up computing power.

“It remains to be seen if DeepSeek found a way to work around these chip restrictions rules and what chips they ultimately used as there will be many skeptics around this issue given the information is coming from China,” according to Dan Ives, an analyst with Wedbush Securities.

DeepSeek’s disruption nevertheless rocked AI-related stocks worldwide.

It’s a sharp turnaround for the AI winners, which had soared in recent years on hopes that all the investment pouring in would remake the global economy and deliver

technologies to the country and is limiting sales of advanced Nvidia AI chips to others. But DeepSeek’s progress suggests Chinese AI engineers have found a way to work around the export bans, focusing on greater efficiency with limited resources.

Nvidia said in a statement Monday that DeepSeek’s model is an “excellent AI advancement” and indicated that the Chinese company didn’t violate US restrictions that limit access to advanced US chips in creating its technology. It also added that inference, or the work of running AI models, “requires significant numbers of Nvidia GPUs and high-performance networking.” With assistance from Philip Sanders and Cagan Koc/Bloomberg

gargantuan profits along the way. Such stellar performances also raised criticism that their stock prices had gone too far, too fast. Before Monday’s drop, which was its worst since the 2020 Covid crash, Nvidia’s stock had soared from less than $20 to more than $140 in less than two years, for example.

A small group of seven such companies has become so dominant that they alone accounted for more than half the S&P 500’s total return last year, according to S&P Dow Jones Indices. They include Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia and Tesla.

Their immense sizes give them huge sway over the S&P 500 and other indexes that give more weight to bigger companies.

Markets are also awaiting earnings reports later this week from Apple, Meta Platforms, Microsoft and Tesla.

In energy trading, benchmark US crude added 36 cents to $73.53 a barrel. Brent crude, the international standard, rose 42 cents to $77.50 a barrel.

In currency trading, the US dollar rose to 155.71 Japanese yen from 154.51 yen. The euro cost $1.0441, down from $1.0493.

AP Business Writer Stan Choe contributed.

Executives at Japan’s Fuji TV and parent firm resign over sex scandal linked to a former star

By Mari Yamaguchi The Associated Press

TOKYO—The president and chairperson of Japanese network Fuji Television have resigned over a widening sex assault scandal linked to one of Japan’s top TV celebrities.

The scandal centers on Masahiro Nakai, a former leader of Japan’s once-hugely popular boy band SMAP, and his costly settlement with a woman over the alleged sex assault at a 2023 dinner party that Fuji TV staff allegedly helped to organize.

The allegations surfaced in magazine articles in December and have since triggered claims of systematic cover-ups by Fuji TV executives. The public outrage over

the lack of transparency and explanation at the network’s earlier news conference this month have led to an avalanche of advertising losses at Fuji, one of the networks where Nakai worked.

Fuji Television Network President Koichi Minato and other company officials said Monday the case was mishandled and possibly had violated the woman’s human rights. But they didn’t provide new details, citing her privacy as well as the third-party investigation, during the more than 10-hour news conference while they at times faced yelling by frustrated reporters demanding clarifications.

“We are very sorry that we mishandled the case because of our lack of awareness about human rights and corporate

governance ... and as a result our responses to the involved woman were inadequate,” Minato said. “We are very sorry to have destroyed our credibility.”

He said it was handled as an “extraordinary” case requiring maximum confidentiality and sensitivity for the woman’s mental health and was shared by a small group of officials. The company had continued allowing Nakai to appear on Fuji shows for a year and six months, he said, but denied covering up the case because it involved a big star. Minato said he did not think what happened was sexual assault and that the case was not reported to the company’s compliance office until the magazine report came out. The third-party investigation

report is due in March. He denied a Fuji TV employee’s involvement in that case but said allegations that the employee had previously organized barbecue and other parties for Nakai needed to be investigated. He said he believed the employee’s innocence based on interviews only by him and Nakai and without asking the woman.

Fuji officials also acknowledged that female announcers and other female employees have in the past participated at parties for male stars, talent agency executives and sponsors, though they denied any sexual services. Minato said he believed top officials were complacent about outdated gender roles and they now need to “update their mindset.”

THE New York Stock Exchange is shown in New York’s Financial District on December 31, 2024. AP/PETER MORGAN

America First: Trump’s second term foreign policy prioritizes coercion over cooperation

By Aamer Madhani & Zeke Miller The Associated Press

WASHINGTON—Donald

Trump in his first week back in the White House has offered an early preview to his secondterm foreign policy approach: Talk loudly and wield a big stick.

Over the weekend, Trump threatened to levy massive tariffs on Colombia after the country’s leftist president refused to allow a US military plane returning deported migrants from the South American nation to land in the country.

He’s needled the Ukrainian president for “talking so brave” instead of negotiating with Russia. He’s flummoxed even Republican allies with his calls on Mideast nations to take in Palestinian refugees from Gaza, potentially moving out enough of the population to “just clean out” the war-torn area to create a virtual clean slate.

Through economic coercion and sharp rhetoric, Trump is signaling that he intends to be a bull in the China shop in hopes of extracting what he wants from allies and adversaries alike.

In the Colombia episode, President Gustavo Petro quickly relented in the face of Trump’s threatened tariffs—25 percent on all Colombian goods coming into the country and doubling to 50 percent in a week. The moment may be just a taste of what is to come.

“As you saw yesterday, we’ve made it clear to every country that they will be taking back... people that we’re sending out,”

Trump said in a Monday speech before House Republicans at their annual policy retreat. “The criminals and illegal aliens coming from their countries we’re (sending) them back, and they’re going to take them back fast. And if they don’t, they’ll pay a very high economic price.”

The hard-nosed approach from Trump in the showdown with Colombia was hardly unexpected. He vowed to quickly reverse the approach of his Democratic predecessor, President Joe Biden, whom he frequently criticized as demonstrating weakness on the international stage when the world was looking for stronger leadership from the world’s foremost power. White House counselor Alina Habba said Petro miscalculated and “flexed with the wrong president.”

“You mess with the bull, you get the horns,” Habba told Newsmax.

Big stick diplomacy

DURING planning for their return to power, Trump’s team decided on an aggressive course of action to respond to any nation that moved to block his agenda, hoping to make an example of them right out of the gate, according to a senior official who spoke on the condition

EU extends Russia sanctions for six months after Hungary lifts objections

BRUSSELS—The European Union agreed a 6-month extension Monday for a raft of sanctions aimed at depriving Russia of funds to finance its war against Ukraine after Hungary lifted its objections to the move. The sanctions target trade, finance, energy, technology, industry, transport and luxury goods. They include a ban on the import or transfer of seaborne crude oil and certain petroleum products from Russia to the EU. They will now remain in place at least until July 31.

Some measures were introduced in 2014 after Russia annexed Ukraine’s Crimean Peninsula, but the list grew significantly after Moscow’s full-fledged invasion of its neighbor almost three years ago.

On Friday, Hungarian Prime Minister Viktor Orbán called on the EU to intervene in a gas dispute that his country has with Ukraine. He said Kyiv’s decision to halt the transit of Russian gas into Central

Europe had forced Hungary to turn to alternative routes, which raised energy prices.

To satisfy Orbán’s demand, the European Commission attached a statement to Monday’s sanctions rollover agreement, saying that it “expects all third countries to respect” EU energy security, and warned that it could take action to protect critical infrastructure like oil and gas pipelines.

“Hungary has received the guarantees it has requested concerning the energy security of our country,” Hungarian Foreign Minister Péter Szijjártó said in a statement. All 27 EU member countries must agree for the sanctions to be prolonged.

But already last week EU diplomats and officials expected Hungary to end its threatened blockade on the measures after US President Donald Trump threatened to impose stiff taxes, tariffs and sanctions on Russia if an agreement isn’t reached to end the war in Ukraine.

of anonymity to discuss internal deliberations.

And with the heavy reliance on sticks rather than carrots in the opening days of Trump 2.0, the administration has sought to send a clear message that US foreign policy will be driven by an unrelenting commitment to the “America First” worldview.

Soon after the Colombia matter was resolved, Trump posted on social media a photo of himself in a pinstripe suit and Trilby fedora favored by American gangsters in the 1920s as well as a crass acronym that warns not to test him. The posting was a decidedly modern, and Trumpian, turn on President Theodore Roosevelt’s use of the West African aphorism to “speak softly and carry a big stick.”

“It seems to me that from the Trump administration’s perspective, they’ve met their goal, right?” said Kevin Whitaker, who served as the US ambassador to Colombia from 2014 to 2019. “It’s not just that they got what they wanted. The approval for the flights was secured. But they sent a message about their commitment to use

ICC

all of the tools in their toolkit in order to achieve them.”

It’s not just on immigration where Trump is trying to rattle his international counterparts to get in line with blunt talk.

The president said that he used a phone call last week with Saudi Arabia Crown Prince Mohammad bin Salman to press for Opec+ to slash oil prices, a move that he believes is the most effective way to force Russia to negotiate an end to its war against Ukraine. The kingdom is the most prominent member of Opec+, a group of major oil exporting nations.

Trump, a critic of the Biden administration’s spending to back Ukraine’s war effort, pledged during the campaign to bring a quick end to the nearly three-year war.

“One way to stop it quickly is for Opec to stop making so much money,” Trump told reporters, in what could be interpreted as a blunt critique of the Saudis, a key ally. “So, Opec ought to get on the ball and drop the price of oil. And that war will stop right away.”

On Saturday evening, Trump also grabbed the attention of

Middle East partners, Egypt and Jordan, when he said that the two countries should take hundreds of thousands of Palestinians from war-ravaged Gaza. Officials from both countries flatly rejected the idea, and even a prominent Republican Trump backer, Sen. Lindsey Graham of North Carolina, said he was puzzled by Trump’s comments.

“The idea that all the Palestinians are going to leave and go somewhere else, I don’t see that to be overly practical,” Graham said in a Sunday morning appearance on CNN’s “State of the Union.”

Rubio heads to Central America

THE dispute with Colombia’s Petro comes as Trump is dispatching Secretary of State Marco Rubio this week to Central America for his first international travel as America’s top diplomat. The trip will take him to Panama, El Salvador, Guatemala, Costa Rica and the Dominican Republic.

The decision to put an early focus on Central America—including nations that are central to the success of Trump’s mass deportation effort and his bid to clamp down on illegal immigration—speaks to how big a priority immigration is for Trump out of the gate.

Rubio’s stop in Panama also comes as Trump in recent weeks has said he wants the Panama Canal back under US control, claiming that “American ships are being severely overcharged and not treated fairly in any way, shape or form,” and that “China is operating the Panama Canal.”

Some Panamanians have interpreted Trump’s remarks as a way of applying pressure on Panama for something else he wants: better control of migration through the Darien Gap. Others have recalled the 1989 US invasion of Panama

with concern.

To be certain, China’s growing commercial interest in the Western Hemisphere, including its operation of a port at the canal, have long fueled US concerns about Beijing’s broader role in global shipping and port operations. The Biden administration shared similar worries, but sought to counter China by rallying wealthy economies to band together against China’s trillion-dollar “Belt and Road Initiative,” which has launched a network of infrastructure projects and maritime lanes that snake around large portions of the world.

Colombia ‘firestorm’ a preview of what’s to come?

THE Biden administration also sought to make the case to developing nations that the US offered a better partner than Beijing, which it accused of exploiting poorer nations with “coercive and unsustainable lending” to build infrastructure.

But Trump in his approach to Panama has taken a wholly different approach, jostling and threatening an ally to get in line. Colombia, which was at the center of Sunday’s diplomatic hullabaloo, has a strategic partnership with China, but thus far has resisted joining the belt and road project as many of its Latin American and Caribbean neighbors have.

Geoff Ramsey, a senior fellow at the Adrienne Arsht Latin America Center at the Atlantic Council, said that he expects Petro to aggressively pursue infrastructure deals with China moving forward.

“I think that’s going to be a source of tensions with Washington,” Ramsey said. “For better or for worse, Sunday’s firestorm may be just a preview of what’s to come.”

prosecutor seeks arrest warrants for atrocities in Darfur, warns of ‘deeper suffering’ in civil war

By Edith M. Lederer The Associated Press

UNITED NATIONS—The prosecutor of the International Criminal Court announced Monday that his office will be seeking arrest warrants for those accused of atrocities in Sudan’s West Darfur region, which has seen reported ethnic cleansing by paramilitary forces that have been fighting government forces for 19 months.

Karim Khan told the UN Security Council that crimes are being committed in Darfur “as we speak and daily” and are being used as a weapon of war. He said that conclusion is the result of “a hard-edged analysis” based on evidence and information collected by his office.

Sudan plunged into conflict in mid-April 2023, when long-simmering tensions between its military and paramilitary leaders broke out in the capital, Khartoum, and spread to other regions, including the vast western Darfur region.

Two decades ago, Darfur became synonymous with genocide and war crimes, particularly by the notorious Janjaweed Arab militias, against populations that identify as Central or East African. Up to 300,000 people were killed and 2.7 million were driven from their homes.

Khan told the council in Janu -

ary there were grounds to believe both government forces and the paramilitary Rapid Support Force, which was born out of the Janjaweed, may be committing war crimes, crimes against humanity or genocide in Darfur.

The Biden administration, just before it left office this month, determined that the RSF and its proxies are committing genocide in Sudan’s civil war. And the ICC prosecutor told the council Monday that there are “very clear echoes” in the current conflict of what happened 20 years ago.

“The pattern of crimes, the perpetrators, the parties, tracked very closely with the same protagonists,

the same targeted groups as existed in 2003” and led the Security Council to refer Darfur to the ICC, Khan said. “It’s the same communities, the same groups suffering, a new generation suffering the same hell that has been endured by other generations of Darfuris, and this is tragic.”

“I can confirm today that my office is taking the necessary steps to put forward applications for warrants of arrest in relations to crimes we allege are being committed and have been committed in West Darfur,” Khan told the council on Monday.

He gave no details on the specific crimes or the people the ICC wants arrested. But he did say his office is particularly concerned about a stream of allegations of gender crimes against women and girls, which he said were “a priority” for the ICC.

He said the last six months have seen “a tailspin into deeper suffering, deeper misery for the people of Darfur,” with famine present, conflict increasing, children targeted, girls and women subjected to rape and the whole landscape “one of destruction.”

Khan had a simple message for those on the ground in El Geneina in West Darfur, the city of El Fasher in North Darfur, which is besieged by RSF forces, and elsewhere in Darfur: “Now, better late than never, for goodness sake, comply with international humanitarian law, not as a charity, not out of some political necessity, but out of the dictates of humanity.”

Human Rights Watch in a major report last May said the Rapid Support Forces and their allied militias carried out attacks against the ethnic Masalit and other non-Arab groups in El Geneina, the capital of West Darfur state, from April to June 2023, with attacks intensifying that November. At least thousands of people were killed and hundreds of thousands displaced during the attacks, according to the report by the leading rights group.

A WIDE-ANGLE view captures a Security Council meeting at the United Nations headquarters, Friday, January 17, 2025. AP/YUKI IWAMURA

Serbia’s prime minister resigns, appeals for calm as anti-corruption protests grow

By Jovana Gec The Associated Press

BELGRADE, Serbia—Serbia’s populist Prime Minister Milos

Vucevic said Tuesday he is stepping down following weeks of massive anti-corruption protests over the deadly collapse of a concrete canopy in November.

The canopy collapse, which killed 15 people in the northern city of Novi Sad, has become a flashpoint reflecting wider discontent with the increasingly autocratic rule of Serbia’s populist President Aleksandar Vucic. He has faced accusations of curbing democratic freedoms in Serbia despite formally seeking European Union membership for the troubled Balkan nation.

Vucevic told a news conference that his resignation is aimed at lowering tensions in Serbia.

“It is my appeal for everyone to calm down the passions and return to dialogue,” he said.

Novi Sad Mayor Milan Djuric also will step down on Tuesday, Vucevic said.

Vucevic’s resignation is likely to lead to an early parliamentary

DeepSeek’s

election. The resignation must be confirmed by Serbia’s parliament, which has 30 days to choose a new government or call a snap election.

On Monday, tens of thousands of people joined striking university students in a 24-hour blockade of a key traffic intersection in the Serbian capital. The students have been protesting for weeks, demanding accountability for the canopy collapse that critics have blamed on rampant government corruption.

In another attempt to defuse tensions, Vucic, Vucevic and Parliament Speaker Ana Brnabic on Monday evening urged dialogue with the students, who have garnered widespread support from all walks of life in Serbia with their call for justice and accountability. Vucevic said the immediate

AI chatbot and ChatGPT answer sensitive questions about China differently

By Kanis Leung

The Associated Press

HONG KONG—Chinese tech startup

DeepSeek ‘s new artificial intelligence chatbot has sparked discussions about the competition between China and the US in AI development, with many users flocking to test the rival of OpenAI’s ChatGPT.

DeepSeek’s AI assistant became the No. 1 downloaded free app on Apple’s iPhone store on Tuesday afternoon and its launch made Wall Street tech superstars’ stocks tumble. Observers are eager to see whether the Chinese company has matched America’s leading AI companies at a fraction of the cost.

The chatbot’s ultimate impact on the AI industry is still unclear, but it appears to censor answers on sensitive Chinese topics, a practice commonly seen on China’s Internet. In 2023, China issued regulations requiring companies to conduct a security review and obtain approvals before their products can be publicly launched.

Here are some answers The Associated Press received from DeepSeek’s new chatbot and ChatGPT:

What does Winnie the Pooh mean in China?

FOR many Chinese, the Winnie the Pooh character is a playful taunt of President Xi Jinping. Chinese censors in the past briefly banned social media searches for the bear in mainland China.

ChatGPT got that idea right. It said Winnie the Pooh had become a symbol of political satire and resistance, often used to mock or criticize Xi. It explained that Internet users compared

Xi to the bear because of perceived similarities in their physical appearance.

DeepSeek’s chatbot said the bear is a beloved cartoon character that is adored by countless children and families in China, symbolizing joy and friendship. Then, abruptly, it said the Chinese government is “dedicated to providing a wholesome cyberspace for its citizens.” It added that all online content is managed under Chinese laws and socialist core values, with the aim of protecting national security and social stability.

Who is the current US president?

IT might be easy for many people to answer, but both AI chatbots mistakenly said Joe Biden, whose term ended last week, because they said their data was last updated in October 2023. But they both tried to be responsible by reminding users to verify with updated sources.

What happened during the military crackdown in Beijing’s Tiananmen Square in June 1989?

T HE 1989 crackdown saw government troops open fire on student-led pro-democracy protesters in Beijing’s Tiananmen Square, resulting in hundreds, if not thousands, of deaths. The event remains a taboo subject in mainland China.

DeepSeek’s chatbot answered, “Sorry, that’s beyond my current scope. Let’s talk about something else.”

But ChatGPT gave a detailed answer on what it called “one of the most significant and tragic events” in modern Chinese history. The

cause for his quitting was an attack on a female student in Novi Sad early Tuesday by assailants allegedly from the ruling Serbian Progressive Party. Vucevic said that “whenever it seems there is hope to return to social dialogue, to talk ... it’s like an invisible hand creates a new incident and tensions mount again.”

Serbia’s prosecutors have filed charges against 13 people, including a government minister and several state officials. But the former Construction Minister Goran Vesic has been released from detention, fueling doubts over the investigation’s independence.

The main railway station in Novi Sad was renovated twice in recent years as part of a wider infrastructure deal with Chinese state companies.

Several incidents have marred the street demonstrations in the past weeks, including drivers ramming into the crowds on two occasions, when two young women were injured.

Students and others have been holding daily 15-minute traffic blockades throughout Serbia at 11:52 a.m., the exact same time the concrete canopy crashed down on November 1. The blockades honor the 15 victims, including two children.

Serbian farmers join protest SERBIAN farmers on tractors and

chatbot talked about the background of the massive protests, the estimated casualties and their legacy.

What is the state of US-China relations?

DEEPSEEK’S chatbot’s answer echoed China’s official statements, saying the relationship between the world’s two largest economies is one of the most important bilateral relationships globally. It said China is committed to developing ties with the US based on mutual respect and win-win cooperation.

“We hope that the United States will work with China to meet each other halfway, properly manage differences, promote mutually beneficial cooperation, and push forward the healthy and stable development of China-US relations,” it said.

Some of these phrases—“meet... halfway,” “mutual respect” and “win-win cooperation”—mirror language used by a Chinese Foreign Ministry official in a 2021 news conference.

ChatGPT’s answer was more nuanced. It said the state of the US-China relationship is complex, characterized by a mix of economic interdependence, geopolitical rivalry and collaboration on global issues. It highlighted key topics including the two countries’ tensions over the South China Sea and Taiwan, their technological competition and more.

“The relationship between the US and China remains tense but crucial,” part of its answer said.

Is Taiwan part of China?

AGAIN —like the Chinese official narrative— DeepSeek’s chatbot said Taiwan has been an integral part of China since ancient times. An example of a very similar statement is found in this government document issued in 2022.

“Compatriots on both sides of the Taiwan Strait are connected by blood, jointly committed to the great rejuvenation of the Chinese nation,” the chatbot said.

ChatGPT said the answer depends on one’s perspective, while laying out China and Taiwan’s positions and the views of the international community. It said from a legal and political standpoint, China claims Taiwan is part of its territory and the island democracy operates as a “de facto independent country” with its own government, economy and military.

The Associated Press writer Ken Moritsugu in Beijing contributed to this story.

thousands of citizens joined the blockade that followed weeks of protests demanding accountability of the deadly accident in the northern city of Novi Sad that critics have blamed on rampant government corruption.

A campaign of street demonstrations has posed the biggest challenge in years to the populist government’s firm grip on power in Serbia.

Serbia’s President Aleksandar Vucic on Monday urged dialogue with the students, saying that “we need to lower the tensions and start talking to each other.”

Students in the past have refused to meet with Vucic, saying the president is not entitled by the constitution to hold talks with them.

“Any kind of a crisis poses a serious problem for our economy,” said Vucic. “Such a situation in society is not good for anyone.”

Vucic has faced accusations of curbing democratic freedoms despite formally seeking European Union membership for Serbia. He has accused the students of working for unspecified foreign powers to oust the government.

Several incidents have marked

the street demonstrations in the past weeks, including drivers ramming into the crowds on two occasions, when two young women were injured.

Traffic police on Monday secured the student blockade to help avoid any similar incidents.

Protesting students set up tents at the protest site, which is a key artery for the city commuters and toward the main north-south motorway.

Some students played volleyball, others sat down on blankets on the pavement or walked around on a warm day. The students also held a daily 15-minute commemoration silence at 11.52, the exact same time when the canopy at a train station in Novi Sad crashed down on November 1.

Many in Serbia believe the huge concrete canopy fell down because of sloppy reconstruction work that resulted from corruption.

Serbia’s prosecutors have filed charges against 13 people, including a government minister and several state officials. But the former construction minister Goran Vesic has been released from detention, fueling doubts over the investigation’s independence.

The main railway station in Novi Sad was renovated twice in recent years as part of a wider infrastructure deal with Chinese state companies.

PROTESTERS march during a student-led 24-hour block on an intersection to protest the deaths of 15 people killed in the November collapse of a train station canopy, in Belgrade, Serbia, Monday, January 27, 2025. AP/DARKO VOJINOVIC

PHL achieves record rice harvest in 2023, but faces challenges from extreme weather

THe Philippines in 2023 produced more than 20 million metric tons of rice for the first time in history. Official government data indicated that the production of unmilled rice in 2023 reached 20.06 MMT, higher than the 2022 volume of 19.76 MMT and the previous record of 19.96 MMT in 2021. Despite elevated input costs, the country’s rice production got a boost from better weather conditions in 2023, according to the government.

Last year, however, the production of the rice sector fell to 19.09 MMT, a level that compares with the 18.81 MMT recorded in 2019, when the Philippine government started implementing the rice tariffication law. (See, “PSA reports low palay output in 2024,” in the BusinessMirror , January 21, 2025). This time the culprit for the lower rice output was extreme weather—drought in the first half of 2024 and successive storms in the second half of the year. El Niño alone caused palay output in the second quarter of last year to decline by nearly 10 percent to 3.84 MMT, according to data from the Philippine Statistics Authority (PSA). The extreme weather pattern that the country saw last year is a reminder to policymakers and stakeholders in the agriculture sector of the urgent need to find viable means of producing a water-loving crop like rice. The state now has the resources to bankroll interventions for propping up crops production in the face of climate change. For one, the rice tariffication law, which mandated the allocation of tariffs for the Rice Competitiveness Enhancement Fund (RCEF) ensures that there is enough money for improving the productivity of the sector.

A production loss of nearly a million metric tons is disastrous for a country like the Philippines, which continues to import huge volumes of rice to plug the perennial shortfall in domestic supply. The government must improve the country’s rice self-sufficiency ratio and reduce dependence on those produced by farmers in other countries. This is because reliance on imports or increasing purchases from abroad is not good for the country as this could drive up the international prices of the food staple.

Proof of this is the elevated retail prices of the food staple despite the record volume of rice imported last year. Import arrivals have reached more than 4.7 MMT, an unprecedented level, according to data from the Bureau of Plant Industry (BPI). Agriculture officials attributed the unprecedented volume to lower tariffs as well as harvest losses caused by extreme weather.

Easing the prices of the staple would entail a significant improvement in the productivity of the local rice sector. We agree with a former deputy governor of the Bangko Sentral ng Pilipinas (BSP) who noted that local rice prices remain elevated because of unresolved supply side issues. The government’s agricultural policy to stabilize prices of key commodities, he noted, continue to focus on market dynamics rather than on production and productivity. (See, “Rice inflation risks high, BSP cautioned,” in the BusinessMirror , January 22, 2025).

Sustained public works key to PHL growth

SMark Villar

THE BUILDER

uSTAineD public works remain crucial for economic growth this year, notwithstanding the challenges such as the electionrelated suspension of projects and budget cuts for some Department of Public Works and Highways (DPWH) programs.

The 2025 national budget, exceeding P6.3 trillion, prioritizes infrastructure spending, aiming for over 5 percent of our gross domestic product (GDP), a level considered ideal for a rapidly growing economy like the Philippines. Construction generates jobs, improves mobility and strengthens various sectors.

Beyond transportation, construction plays a vital role in supporting other sectors including education through the building of schools, healthcare through the construction of hospitals, and social services through the provision of housing and facilities.

It also supports agriculture through the development of irrigation systems, energy through the construction of power plants, information technology through the building of telecom towers and laying undersea cables, tourism through the development of hotels and resorts, and defense through the construction of ports and military bases, among many others.

While the DPWH received a sub-

T. Anthony C. Cabangon

Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug

Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso, Dionisio L. Pelayo Ruben M. Cruz Jr.

D. Edgard A. Cabangon

stantial P1.088-trillion budget, cuts were made in areas like right-ofway (ROW) payments, contractual obligations and feasibility studies. President Marcos vowed to recover funds for foreign-assisted projects and emphasized the importance of maintaining existing infrastructure, resolving ROW issues and completing necessary feasibility studies.

Among the most affected are the KATUPARAN program, which supports infrastructure projects like roads and airports as well as the agency’s Bridge Program, Tourism Road Infrastructure Program (TRIP) and Roads Leveraging Linkages of Industry and Trade (ROLL-IT) program.

Some foreign-assisted projects would also see significant budget cuts, even as the DPWH was given the task to upkeep existing infrastructure, address right-of-way issues and complete essential feasibility studies.

The 45-day election ban on public works, as mandated by the Omnibus Election Code, also poses a major challenge. The Omnibus Election Code (Batas Pambansa Bilang 881)

prohibits the release, disbursement or expenditure and the construction and delivery of materials for public works for 45 days before the election day.

This represents one-and-a-halfmonths of delayed and suspended projects, which could also affect the jobs of millions of construction workers, disrupt schedule timelines and inflate project costs.

Several government projects are fortunately exempt from the election ban. The Commission on Elections (Comelec) granted an exemption to 48 infrastructure projects under the Public-Private Partnership (PPP) Center.

The PPP Center, an attached agency of the National Economic and Development Authority, is responsible for overseeing the implementation of the country’s PPP programs. PPP and build-operatetransfer (BOT) projects are specifically excluded from the election ban restrictions.

Despite these challenges, we need to sustain public construction and infrastructure projects to achieve our economic goals and ambition. It will support our annual GDP growth target of 6 percent to 8 percent from 2025 to 2028 and beyond.

Delayed or scaled-down projects could affect our growth assumptions. A newly-completed road, bridge or railway, for example, could boost mobility, facilitate trade and enhance access to markets and services. Businesses and consumers benefit from reduced transportation costs, leading to lower commodity prices.

We need to ensure the timely completion of these projects to support our growth projections. International organizations remain optimistic about the Philippine economy. The World Bank, the International Monetary Fund and the ASEAN+3 Macroeconomic Research Office (AMRO) project GDP growth above 6 percent in 2025 and 2026, driven by factors like strong domestic demand and continued infrastructure development.

The World Bank, in its January Global Economic Prospects, predicted that the country’s gross domestic product (GDP) would expand by 6.1 percent in 2025 and 6.0 percent in 2026, while the IMF maintained its growth forecast of 6.1 percent in 2025 and 6.3 percent in 2026, following an estimated 5.8-percent expansion in 2024. Per the Philippine Statistics Authority (PSA), our GDP growth averaged 5.8 percent in the first three quarters of 2024. The ASEAN+3 Macroeconomic Research Office (AMRO) predicts a growth of 6.3 percent in 2025 and expects inflation to remain manageable at 3.2 percent this year or at the same rate in 2024. AMRO identified the Philippines as one of the stronger, faster-growing economies in Southeast Asia.  Sustaining public works is vital to achieving these growth targets and solidifying the Philippines’ position as a key driver of economic growth in the region.

For feedback e-mail to senatormarkvillar@ gmail.com or visit our web site: https://markvillar. com.ph

Chinese citizens hail DeepSeek’s feat, gloat about US chip curbs

AS shockwaves from DeepSeek’s cheaper artificial-intelligence model spread around the world, many in China are embracing the homegrown startup as no less than a national breakthrough that has the potential to rewrite history.

The furor over what prominent figures in tech like Marc Andreessen are calling “AI’s Sputnik moment” began to build in China even before global markets convulsed Monday over the implications of DeepSeek’s feat.

Game Science co-founder Feng Ji wrote on social media platform

Weibo that “DeepSeek may be a technology achievement that can change a nation’s fortune.” “So lucky! So happy!” said Feng, who’s also producer of smash-hit game Black Myth: Wukong. “Such a stunning breakthrough comes from a pure Chinese company.”

DeepSeek’s new open-source AI model rivals or outperforms leading US developers, upending many of the assumptions inside Silicon Valley about the economics of building AI and the extent of America’s lead over competitors in China.

Hype over DeepSeek drove a nearly $1 trillion rout in US and European technology stocks as investors questioned the spending plans of some of America’s biggest companies.

For China, the technology marked a leap forward in its attempts to thrive despite US restrictions on its access to vital components for chips and AI, although Beijing still faces challenges. Its tech champions Huawei Technologies Co. and Semiconductor Manufacturing International Corp. are believed to lag industry leader Taiwan Semiconductor Manufacturing Co.’s capabilities by several generations.

The cheer that greeted DeepSeek was the culmination of a series of tech triumphs in recent years that have boosted Chinese citizens’ confidence and pride in domestic talent. The lat-

DeepSeek’s new open-source AI model rivals or outperforms leading US developers, upending many of the assumptions inside Silicon Valley about the economics of building AI and the extent of America’s lead over competitors in China.

est breakthroughs ranged from Huawei’s Mate 60 Pro phone that used an advanced chip made locally to social media platform Xiaohongshu.

Hu Xijin, former editor-in-chief of China’s state-backed newspaper Global Times, praised DeepSeek for being “the first Chinese startup to have such a profound impact on the expectations of an entire industry.”

‘Question mark’

THE company “shook the myth of America’s invincibility in high tech” and raised an “explosive question mark” over the US model of developing technology with an unparalleled amount of investment, Hu wrote in

a Weibo post on Tuesday. For some Chinese, it was DeepSeek’s success in defying the curbs that mattered most—especially as the country now finds itself in Donald Trump’s cross-hairs after months of pressure from the Biden administration. The US stock rout “shows that US actions including Biden’s tech containment and ban on Nvidia’s export of advanced chips to China have failed completely,” one Weibo user wrote on Tuesday. “Not only it was a failure, they also hurt themselves more than they did their enemy.”

Given the constraints on Chinese mainlanders in accessing AI tools and software abroad, DeepSeek was for many their first encounter with such advanced artificial intelligencegenerated advice. Some Internet users who shared their experience with DeepSeek’s AI model were in awe of its ability to spit out sophisticated essays and stories based on instructions. See “Chinese”

Trump fills his govt with billionaires after running on a working-class message

By Bill Barrow | The Associated Press

AtLAntA—President donald trump’s brash populism has always involved incongruence: the billionaire businessmanpolitician stirring the passions of millions who, regardless of the Us economy’s trajectory, could never afford to live in his Manhattan skyscraper or visit his club in south Florida.

His second White House is looking a lot like the inside of Mar-a-Lago, with extremely wealthy Americans taking key roles in his administration.

The world’s richest man, Elon Musk, is overseeing a new Department of Government Efficiency. Billionaires or mega-millionaires are lined up to run the treasury, commerce, interior and education departments, NASA and the Small Business Administration, and fill key foreign posts.

“He’s bringing in folks who have had great success in the private sector,” said Debbie Dooley, an early 2015 Trump supporter and onetime national organizer in the anti-establishment Tea Party movement. “If you need to have brain surgery, you want the proven brain surgeons.”

Others raise concerns about conflicts of interest at odds with Trump’s pledge to fight for “forgotten men and women” in a country where the median household net worth is about $193,000 and median annual household income is about $81,000.

“It’s hard to conceive how the wealthiest set of Cabinet nominees and White House appointments in history will understand what average working people are going through,” said former Labor Secretary Robert Reich, who served under President Bill Clinton and has warned for decades about the nation’s widening wealth and wage gaps.

Countered Dooley: “Trump sets the agenda. If they won’t enact his policies, then they will hear him say what we hear on ‘The Apprentice’ all the time: ‘You’re fired!’”

Here is a closer look at some of Trump’s picks, their net worth according to Forbes, and what the choices could mean:

Elon Musk Musk (net worth estimated above $400 billion) is chairing the new Department of Government Efficiency, which is a special commission charged with slashing federal spending. The extensive ties his businesses have to the government have raised questions about Musk’s potential conflicts in the role.

Linda McMahon McMahon was picked to be Trump’s secretary of education. She is the wife of Vince McMahon, who is worth at least $3 billion.

The former WWE wrestling executive will lead an agency that many conservatives have called for abolishing altogether. While that’s a heavy lift politically, McMahon and Trump have endorsed an expansion of “school choice,” programs that steer taxpayer money to private school tuition. She also could be in charge of implementing Trump’s proposals to withhold federal money from public schools—K-12 and higher education—that do not meet White House demands to modify or scrap diversity programs.

Doug Burgum

The North Dakota governor (estimated net worth $1.1 billion) made his money as a software entrepreneur. Burgum impressed Trump during his own failed bid for the GOP’s 2024 presidential nomination. As interior secretary, Burgum would be charged with implementing Trump’s “Drill, baby, drill” promise —making it even easier for energy companies to tap fossil fuel resources, including from public lands.

Scott Bessent

Forbes has not yet identified Bes-

sent as a billionaire, but the veteran hedge fund manager confirmed

Egypt and Jordan reject Trump’s Gaza refugee initiative amid heightened regional tensions

dThe world’s richest man, Elon Musk, is overseeing a new Department of Government Efficiency. Billionaires or megamillionaires are lined up to run the treasury, commerce, interior and education departments, NASA and the Small Business Administration, and fill key foreign posts.

Monday as treasury secretary certainly is worth many hundreds of millions. At Treasury, he will play key roles in selling and implementing a number of Trump’s signature policies: reinstating the 2017 tax cuts tilted to corporations and wealthy individuals, imposing tariffs on many imports and cutting taxes on overtime wages, Social Security benefits and tip income.

Reich, the former labor secretary, noted that Bessent and his fellow wealthy Cabinet designees stand to benefit personally from Trump’s tax ideas. Trump tax policies, which helped widen the deficit in Trump’s first term, are juxtaposed with Bessent’s warnings about the dangers of rising US debt and the cost of annual interest payments to the government’s bond holders.

Howard Lutnick

An apparent runner-up to head Treasury, Lutnick (estimated net worth $1.5 billion) has been nominated to be secretary of commerce. Lutnick, who made his fortune as a financial services executive, is still slated for a high-profile post that will put him at the center of Trump’s promised trade wars with China and other nations, including Mexico and Canada. Commerce also oversees several agencies, including the Census Bureau, whose calculations are key to determining the funding distributions of programs across the federal government.

Kelly Loeffler

The Georgia businesswoman named to lead the Small Business Administration was the wealthiest member of the Senate during her brief stay on Capitol Hill. Loeffler is married to Jeffrey Sprecher, CEO of Intercontinental Exchange, the publicly traded firm that owns the New York Stock Exchange. That’s not the center of commerce for the SBA’s usual clientele. The agency was founded in 1953 and describes itself as “the only cabinet-level federal agency fully dedicated to small business” by providing “counseling, capital, and contracting expertise as the nation’s only go-to resource and voice for small businesses.”

As a senator, Loeffler faced ethics complaints over alleged insider trading tied to stock trades she and her husband made as members of Congress first started receiving briefings related to the coronavirus pandemic. The trades occurred weeks before the pandemic caused markets to plummet. Justice Department and Senate inquiries later found no wrongdoing on Loeffler’s part.

Jared Isaacman Isaacman, another financial services billionaire, was the first wealthy individual to take a space walk through Musk’s company, SpaceX. This choice, as much as any, illustrates Trump’s lean to the wealthy private sector, given that billionaires like Musk and Amazon chief Jeff Bezos are now competing in a space sector that was once the province of the federal government and the agency that Isaacman would lead as NASA administrator.

By Will Weissert | The Associated Press

Or AL, Fla.—President donald

trump’s push to have eg ypt and Jordan take in large numbers of Palestinian refugees from besieged Gaza fell flat with those countries’ governments and left a key congressional ally in Washington perplexed on sunday.

Fighting that broke out in the territory after ruling Hamas attacked Israel in October 2023 is paused due to a fragile ceasefire, but much of Gaza’s population has been left largely homeless by an Israeli military campaign. Trump told reporters Saturday aboard Air Force One that moving some 1.5 million people away from Gaza might mean that “we just clean out that whole thing.”

Trump relayed what he told Jordan’s King Abdullah when the two held a call earlier Saturday: “I said to him, ‘I’d love for you to take on more because I’m looking at the whole Gaza Strip right now, and it’s a mess.’”

He said he was making a similar appeal to Egyptian President Abdel Fattah el-Sissi during a conversation they were having while Trump was at his Doral resort in Florida on Sunday. Trump said he would “like Egypt to take people and I’d like Jordan to take people.”

Egypt and Jordan, along with the Palestinians, worry that Israel would never allow them to return to Gaza once they have left. Both Egypt and Jordan also have perpetually struggling economies and their governments, as well as those of other Arab

states, fear massive destabilization of their own countries and the region from any such influx of refugees.

Jordan already is home to more than 2 million Palestinian refugees. Egypt has warned of the security implications of transferring large numbers of Palestinians to Egypt’s Sinai Peninsula, bordering Gaza.

Trump suggested that resettling most of Gaza’s population of 2.3 million could be temporary or long term.

Jordan’s foreign minister, Ayman Safadi, said Sunday that his country’s opposition to what Trump floated was “firm and unwavering.” Some Israel officials had raised the idea early in the war.

Egypt’s foreign minister issued a statement saying that the temporary or long-term transfer of Palestinians “risks expanding the conflict in the region.”

Trump does have leverage to wield over Jordan, which is a debtstrapped, but strategically important, US ally and is heavily dependent on foreign aid. The US is historically the single-largest provider of that aid, including more than $1.6 billion through the State Department in 2023.

Egypt and Jordan, along with the Palestinians, worry that Israel would never allow them to return to Gaza once they have left. Both Egypt and Jordan also have perpetually struggling economies and their governments, as well as those of other Arab states, fear massive destabilization of their own countries and the region from any such influx of refugees.

Much of that comes as support for Jordan’s security forces and direct budget support.

Jordan in return has been a vital regional partner to the US in trying to help keep the region stable. Jordan hosts some 3,000 US troops. Yet, on Friday, new Secretary of State Marco Rubio exempted security assistance to Israel and Egypt but not to Jordan, when he laid out the details of a freeze on foreign assistance that Trump ordered on his first day in office.

Meantime, in the United States, even Trump loyalists tried to make sense of his words.

“I really don’t know,’’ said Sen. Lindsey Graham, when asked on CNN’s “State of the Union” about what Trump meant by the “clean out” remark. Graham, who is close to Trump, said the suggestion was not feasible.

“The idea that all the Palestinians are going to leave and go

Trump vows tariffs ‘much bigger’ than 2.5% and on key areas

By Stephanie Lai, Billy House & Josh Wingrove

President donald trump said he wants to enact across-theboard tariffs that are “much bigger” than 2.5 percent, the latest in a string of signals Monday that he’s preparing widespread levies to reshape Us supply chains.

“I have it in my mind what it’s going to be but I won’t be setting it yet, but it’ll be enough to protect our country,” Trump told reporters Monday night.

Asked about a report that incoming Treasury Secretary Scott Bessent favored starting with a global rate of 2.5 percent, Trump said he didn’t think Bessent supported that and wouldn’t favor it himself. He said he wanted a rate “much bigger” than 2.5 percent.

Trump spoke aboard Air Force One while he flew back to Washington, DC, from a Florida speech where he also pledged tariffs on specific sectors, including semiconductors, pharmaceuticals, steel, copper and aluminum. He also strongly suggested he could also impose them on automobiles from Canada and Mexico, countries he’s already threatened with 25 percent across-the board tariffs as soon as February 1.

“As tariffs on other countries go up, taxes on American workers and businesses will come down and massive numbers of jobs and factories will come home,” Trump said Monday at a gathering of House Republicans at his Doral resort in Miami, during a speech in which he praised the tariff-heavy US approach at the turn of the 20th century.

“Remember, again, the word ‘tariff.’ We’re going to protect our people and our businesses, and we’re going to protect our country, with tariffs,” Trump added. He’s said to have earlier mused about tariffs of up to 20 percent.

The dollar rose against every major currency on Trump’s latest threats. Copper and aluminum both

Others declared that it’s capable of being their personal therapist or

declined on the threat of sectoral tariffs.

The Monday remarks to lawmakers are the latest sign that Trump sees tariffs as a pillar of the Republican push to also remake the tax system. He repeated a call for Republicans to cut the corporate tax rate to 15 percent, from the current 21 percent, for companies that make their goods in America.

Taken in tandem, Trump wants to add costs on imports through tariffs and lower taxes on domestic production, though the fine print is unclear—US manufacturing relies heavily on imported parts and materials.

Trump’s threat of semiconductor tariffs also comes hours after investor concern about Chinese artificialintelligence startup DeepSeek rattled markets and erased billions from Nvidia Corp.’s market capitalization. Trump has argued that tariffs will help keep and build US manufacturing of the advanced chips compared to a subsidy program championed by former President Joe Biden.

The latest DeepSeek model caused shockwaves when independent tests showed it as competitive with OpenAI and Meta Platforms Inc.’s resource-intensive models.

Trump’s remarks ran in stark contrast to market speculation that his abstention from immediate tariffs last week, when he took office, was a sign that he might soften his stance.

“If you want to stop paying the taxes or the tariffs you have to build your plant right here in America. That’s what’s going to happen at record levels,” he said.

Trump’s speech came after a week-

close friend, useful counsel and suggestions at the ready.  But there was one DeepSeek answer that went viral above all others in China—and revealed that its model didn’t run short of modesty either.

somewhere else, I don’t see that to be overly practical,” said Graham, R-S.C. He said Trump should keep talking to Mideast leaders, including Saudi Crown Prince Mohammed bin Salman and officials in the United Arab Emirates.

“I don’t know what he’s talking about. But go talk to MBS, go talk to UAE, go talk to Egypt,” Graham said. “What is their plan for the Palestinians? Do they want them all to leave?” Trump, a staunch supporter of Israel, also announced Saturday that he had directed the US to release a supply of 2,000-pound bombs to Israel. Former President Joe Biden had imposed a hold due to concerns about their effects on Gaza’s civilian population.

Egypt and Jordan have made peace with Israel but support the creation of a Palestinian state in the occupied West Bank, Gaza and east Jerusalem, territories that Israel captured in the 1967 Mideast War. They fear that the permanent displacement of Gaza’s population could make that impossible. In making his case for such a massive population shift, Trump said Gaza is “literally a demolition site right now.”

“I’d rather get involved with some of the Arab nations, and build housing in a different location,” he said of people displaced in Gaza. “Where they can maybe live in peace for a change.” Associated Press writers Samy Magdy in Cairo and Ellen Knickmeyer in Washington contributed to this report.

The Monday remarks to lawmakers are the latest sign that Trump sees tariffs as a pillar of the Republican push to also remake the tax system. He repeated a call for Republicans to cut the corporate tax rate to 15 percent, from the current 21 percent, for companies that make their goods in America.

end in which he threatened tariffs of as much as 50 percent on Colombia after the nation’s government initially declined to accept migrants being deported by the US on military planes. Trump agreed to hold off only after the South American government backed down.

The new president reiterated to House Republicans that any countries that refuse his deportees would be subject to the same tariff-andsanction threat Colombia narrowly avoided.

A top Trump economic aide signaled Monday that Trump’s tariff push is part of a broader push. National Economic Council Director Kevin Hassett pointed to the Colombia example—a sign that Trump is considering several streams of tariffs that could add up to a higher overall levy in some sectors or countries— and hinted that the president is also still considering across-the-board tariffs.

“Whatever tariff that might be is going to be in addition to whatever President Trump does in the future when he’s thinking about an overall tariff,” Hassett said Monday in an interview with Fox Business host Larry Kudlow, who held Hassett’s current role during Trump’s first term.

“If you look at tariffs as part of an overall strategy, you’re going to see, as President Trump says, a golden age and it’s going to be the biggest supply side reform that America’s

In explaining what caused the plunge in Nvidia’s stock, the AI model cited six factors including interest-rate expectations, the US chip maker’s high valuations and industry competition.

ever seen,” Hassett said.

Trump singled out several sectors in his speech to lawmakers. He complained at length about auto imports both from Canada and Mexico.

“They send us millions of cars; we don’t need them for that,” he said of Canada, America’s top export market. “We want to have the cars made in Detroit or South Carolina or many other locations.” Trump then added: “The auto workers voted for me and I have an obligation to do what’s right, and I’m going to do that.” He sang the praises of steel tariffs that he implemented in his first term and said he’d be “placing tariffs on steel, aluminum and copper and things that we need for our military,” without elaborating. “We have to bring production back to our country.”

DeepSeek’s arrival M E ANWHILE Trump heralded news of DeepSeek’s apparent progress in artificial intelligence as “a positive” while also delivering a warning.

“The release of DeepSeek AI from a Chinese company should be a wakeup call for our industries that we need to be laser-focused on competing to win,” Trump continued. “Because we have the greatest scientists in the world, even Chinese leadership told me that. They said you have the most brilliant scientists in the world.”

The US has tried to curb China’s progress on AI by banning the export of certain advanced semiconductor technologies and also limiting sales of advanced Nvidia AI chips. But DeepSeek’s progress suggests Chinese AI engineers have found a way to work around the export bans, focusing on greater efficiency with limited resources.

Trump said he had been reading about the company and saw their apparent breakthrough as “good, because you don’t have to spend as much money.” With assistance from Carmen Reinicke and Derek Wallbank /Bloomberg

“These factors combined led to the plunge in Nvidia’s shares, and it has nothing to do with DeepSeek,” according to an answer posted by Weibo users including Hu. Bloomberg

Spikes in pork prices prompt DA to mull over an MSRP

By Ada Pelonia @adapelonia

THEDepartment of Agriculture (DA) is mulling over imposing a maximum suggested retail price (MSRP) on pork amid persistent high prices.

This, as prevailing retail prices of pork ham and pork belly reached as high as P375 and P426 per kilo in Metro Manila markets based on the latest government price monitoring report.

According to Agriculture Assistant Secretary Arnel de Mesa, the agency is studying the imposition of MSRP on pork following the discrepancy between farmgate and retail prices. He noted that the farmgate price currently stands at P200 to P220 per kilo. With a usual markup of P100 to P120, he said the maximum retail price should be P350 per kilo.

“[Imposing an MSRP on pork] is being studied at the moment,” De Mesa told reporters in a briefing on Tuesday.

“If [DA Secretary Francisco Tiu

Laurel Jr.] sees that the MSRP on rice is effective, it can also be applied to other commodities, especially pork since we’re seeing a huge difference [between farmgate and retail],” he added.

The agency recently imposed an MSRP of P58 per kilo for imported rice last January 20 in its bid to bring down retail prices of the food staple.

Tight supply

MEANWHILE , the National Federation of Hog Farmers Inc. (NatFed) vice chairman Alfred Ng said growing demand and tight supply due to the culling of swine following the African swine fever (ASF) outbreaks drove the increase in the farmgate price of pork.

“Farmgate prices increased be -

cause there’s been a strong demand since the holiday season,” Ng told the BusinessMirror on Tuesday.

He noted that there were ASF outbreaks in Southern, Central Luzon, Visayas, and Mindanao around June to August last year and most farms depopulated, leading to a tight supply.

“Farmers are likely recovering from their losses, which is why the [farmgate] prices have slightly increased,” Ng said.

He said the monitored farmgate price is P220 to P240 per kilo, noting that the retail prices should be P340 to P360 per kilo for pork kasim and around P40 to P50 peso higher for pork belly.

Figures from the Bureau of Animal Industry (BAI) showed that meat imports surged by 19.42 percent to 1.33 million metric tons (MMT) from January to November 2024, compared to the 1.12 MMT recorded in the previous year.

Pork shipments accounted for the largest share of the country’s meat imports in the reference period as it rose by 21.98 percent to 671,561 MT from the 550,539 MT recorded last year. Most of the imports were pork cuts and offals at 257,639 MT and 227,961 MT, respectively.

THE Philippines is among the top choices in the world for Japanese nationals to study English as a second language (ESL).

In the recent Kapihan sa Manila Prince with reporters, Tourism Secretary Christina Garcia Frasco said, “Our Japanese tourists are patrons of the Philippines in studying English as a second language. The Philippines ranks fifth all over the world in terms of their preferred destination to learn English.” The top destination is the United Kingdom, followed by New Zealand, Australia, and the United States.

“So, the Philippines being the only Asean country within that ranking speaks very well of our ability to educate as well as to entertain,” she added. In particular, most Japanese go to Cebu City to enroll in ESL courses, while “Baguio City is arising as well [as an ESL destination,” she added.

Tourism experts noted that it is more affordable for Japanese nationals to study in the Philippines compared to the other destinations in the West or in Oceania. Research shows it cost between US$250 and $350 to study English in the Philippines, depending on the course duration, location, and class size. ESL

DOLE lists construction, transportation among ‘critical’ sectors in 2025

By Justine Xyrah Garcia

THE Department of Labor and Employment (DOLE)

on Tuesday identified transportation and construction as two of the “critical” sectors expected to drive the country’s labor market this year.

In a side interview, Labor Undersecretary Carmela Torres said these sectors are anticipated to generate the most new jobs for Filipinos.

“That’s where we’re really focused on because of the need for upskilling of workers and, at the same time, assisting them in social protection,” she said.

Torres explained to BusinessMirror that the growth potential of these sectors is closely linked to the Marcos administration’s infrastructure flagship projects (IFPs) under the Build Better More Program.

The National Economic and Development Authority previously identified 185 IFPs with a total value of P9.14 trillion.

Among these, 10 ongoing projects are under the Department of Transportation and aim to improve the country’s commuting system. These are expected to be finished by 2028.

“In transportation, there are significant needs—rail transport, air travel, cargo handling, and storage... We expect more jobs to emerge because of new demands,” she explained.

Emerging roles in transportation include intermodal transportation engineers and operators, who specialize in designing and managing systems that integrate various modes of transport, such as railways, buses, and cargo services, to ensure seamless connectivity.

These roles are particularly relevant to the government’s transportation projects, which aim to establish a centralized, interconnected commute system that streamlines travel and reduces congestion.

Meanwhile, the construction sector is expected to see increased demand for jobs such as leadership in energy and environmental design coordinators, and environmental engineers, as the industry adopts more sustainable practices. Other sectors projected to pro-

courses in the West will be double the cost in the Philippines. 50K ESL students in Cebu yearly ALSO, the shared history between the Philippines and Japan makes it easier for the students to adapt to the local culture, and interact with Filipinos. Also, some ESL schools in Cebu offer hotel-like rooms in dormitories, providing students with resort amenities like gyms and swimming pools, and are accessible to bars, restaurants, and shops. The website ESL Base lists 44 ESL schools in the Philippines, mostly located in Cebu, Metro Manila, Clark, Cavite, Baguio City and Boracay. While Frasco was not able to cite how many Japanese are specifically in the Philippines studying ESL, the Department of Tourism (DOT)-Region 7 said Cebu received 50,000 ESL students annually, though this included other nationalities like South Koreans, Vietnamese, etc. Overall, Japan was the country’s third largest source market for travelers at 388,316 arrivals last year, 27 percent more than the arrivals in 2023. Tourists from Japan have yet to rebound to prepandemic levels, which in 2019, reached 682,388.

duce significant employment opportunities include manufacturing, agriculture, business process outsourcing, and renewable energy.

However, Torres cautioned that while the outlook for job creation is positive, this could change depending on labor market demands in the coming months.

“As our Secretary [Bienvenido E.] Laguesma has been saying, it changes often depending on developments, investments, and new policies,” she explained, noting that there are no exact figures yet on how many jobs these sectors will generate.

She emphasized that DOLE actively monitors job vacancies by engaging with employers and companies to ensure workers understand the evolving demands of various industries.

Free reskilling, upskilling

IN addition to providing updated labor market information, Torres highlighted that DOLE’s attached agency, the Technical Education and Skills Development Authority (Tesda), supports jobseekers through free training and certification programs.

“This is a significant step to address the issue of job skills mismatch, where the current skills of workers do not align with what employers need,” she said.

Torres added that DOLE and Tesda are working closely to develop new training regulations, produce qualified trainers and assessors, and create updated curricula aligned with industry standards.

She added that DOLE and Tesda are working to develop new training regulations, produce qualified trainers and assessors, and create updated curricula aligned with industry standards.

The undersecretary also cited the newly signed Enterprise-Based Education Training program— which enables businesses to conduct training programs designed to equip trainees with the fundamental to advanced skills required by industries—as a key program in addressing the job skills mismatch.

Enterprises participating in the program can receive tax deductions of up to 50 percent of their actual training expenses, increasing to 75 percent starting in 2028.

Rules eyed on branding of imported, local rice

THE Department of Agriculture (DA) will release a set of rules on branding and labeling of rice to properly implement the maximum suggested retail price (MSRP) of imported staple grain.

“We are going to come out with rules as to labeling and branding...especially in retail, because we cannot determine right away if it’s imported or local rice,” DA Assistant Secretary Genevieve Velicaria-Guevarra said during the Murang Pagkain Supercommittee hearing on Tuesday.

“We’re now just seeing a few imported [stocks]. They’re branding most of them as local because it doesn’t have an MSRP,” she added.

Guevarra said the agency has prepared the rules to streamline the monitoring of MSRP.

“That’s what we have to establish soon so that all the measures that we’re doing now including MSRP can be more efficiently implemented and we can ensure that the MSRP is only for the imported that is 5 percent,” she said, partly in Filipino. The agency imposed an MSRP of P58 per kilo for imported 5-percent broken rice variety last January 20 in its bid to bring down retail prices of the food staple.

Last month, the agency said it was eyeing the removal of brand labels from imported rice on reports these are allegedly being employed as manipulation tactics by some industry players to inflate rice prices. In a statement, Agriculture Secretary Francisco Tiu Laurel Jr. cited concerns that some industry players are manipulating the system to raise prices and exploit Filipino consumers.

“After conducting a series of market visits, we now have reason to believe that some retailers and traders are intentionally confusing Filipino consumers with branded imports to justify the high prices of rice,” Laurel said. He also ordered the removal of labels like “premium” and “special” on imported rice, noting that these are being used to justify inflated prices.

“Importing rice is not a right but a privilege... If traders are unwilling to follow our regulations, we will withhold permits for rice importation,” Laurel said.

Editor: Jennifer A. Ng

Top PHL power firms reach financial close for gas deal

By Lenie Lectura @llectura

The country’s top power firms have achieved financial close for their liquefied natural gas (LNG) facility which recently received the green light of the government’s competition watchdog.

In separate disclosures, the Manila Electric Co. (Meralco), San Miguel Corp. (SMC), and Aboitiz Power Corp. said their subsidiaries have completed the financial close for the $3.3-billion gas deal.

The transaction involves the 67-percent stake acquisition of Chromite Gas Holdings, Inc. (CGHI) in South Premiere Power Corp. (SPPC), Excellent Energy Resources, Inc. (EERI), and Ilijan Primeline Industrial Estate Corp. (IPIEC).

CGHI is 60-percent owned by Meralco PowerGen Corp. (MGen) and 40 percent owned by Therma NatGas Power Inc. (TNGP).

The deal also involves CGHI and San Miguel Global Power Holdings Corp. (SMGP) acquiring 100 percent of Linseed Field Corp. (LFC) to operate an LNG (liquefied natural gas) import and regassification terminal in Batangas City.

As a result, CGHI will own 67 per-

cent of SPPC, EERI, and IPIEC, while SMGP will retain a 33-percent stake in these entities and gains a corresponding interest in LFC.

LFC is a local unit of global infrastructure firm Atlantic, Gulf & Pacific Co. while SPPC owns and operates 1,278 megawatt (MW) Ilijan power plant.

MGen’s share in the deal will be financed through borrowings, particularly from the P75-billion credit faculty of Meralco with BDO Unibank Inc., Bank of the Philippine Islands, and Metropolitan Bank and Trust Co.

“Drawn already,” replied Meralco senior vice president and chief finance officer Betty Siy-Yap when asked if the company has tapped the credit line.

Moving forward, MGen President Emmanuel Rubio said the parties will now proceed to tick off the remaining items in the snag list.

“The team will focus on closing punch list items for Excellent Energy and the regas facilities. The third unit of EERI is still undergoing commissioning and we expect that to be completed within February.

We are also completing the first on shore tank and starter constructing the second. After these, we can then look at efficiency improvements and work to further ensure reliability for both EERI and SPPC,” said Rubio.

The transaction among the parties was recently approved by the Philippine Competition Commission (PCC). The PCC said 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 Selection Process (CSP) 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 un-

planned outages to the PCC within 7 days of reporting to the Department of Energy (DOE). Additionally, Competitive Retail Electricity Market (CREM) reports must 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 (ERC) 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 5 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.

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.

Nestlé to invest in new technology

ESTL

Né P hilippines announced on Tuesday that it will invest P7.1 billion in an upgrading program that will allow the company to meet the needs of the local market.

Laurent Freixe, Nestlé’s global CEO, told reporters that the Vevey, Switzerland-based food and drink processing conglomerate is bullish in the local market. The investment will be made starting this year until 2027.

“The Philippines is the country we believe in. We believe in its growth and we have been sustaining all our investments in the Philippines. It is a constant investment of P2 billion per year to build up capacity and improve our technology to make our factories more efficient,” he told reporters in

an interview at the sidelines of an event held at the Taguig Integrated School in Taguig City.

He added the upgrading of factories aim to meet the growing needs of the local consumers and deliver better service to the customers.

Freixe said Nestlé will prioritize putting in place new technologies appropriate for the market, keeping people safe while increasing manufacturing efficiencies, and increasing the output of high-quality products that support nutrition, health and wellness needs as demand rises.

To ensure operational continuity, he said Nestlé will focus on the capability building of its personnel to ensure “optimal production.”

Further, it will be embedding digi-

tal capabilities that provide real-time production data, cut down errors, waste, and time, and improve factory processes from start to finish.

Remy Ejel, CEO of Nestlé Zone Asia, Oceania, and Africa said the Philippines has a huge potential because of its growing, young population. “The Philippines is one of Nestlé’s biggest markets worldwide, and we strongly believe in its potential.” The Philippines is Nestlé’s sixth largest market in the world and is the largest market for the company in the Southeast Asian region. The local subsidiary’s topline reached P169 billion in 2023.

“It is one of the promising markets and so for that matter as the population grows, it becomes a more prom-

ising market,” said Freixe.

Nestlé Philippines Chairman and CEO Kais Marzouki said the company is helping the country address urgent social, economic, and environmental challenges where it can make “a meaningful impact.”

“Our long-term success depends on implementation of the law mandating extended producer responsibility [EPR] for plastic waste.”

He said Nestlé is also active in promoting business sector participation. Two years before EPR even became law, Nestlé was voluntarily collecting the equivalent amount of plastic it uses for packaging, diverting an average of 1.7 million kilos of plastic waste from the environment each month.

Rizal Raoul Reyes

By Andrea E. San Juan @andreasanjuan

THREE more long-term residential lessees signed a deal with state-run Bases Conversion and Development Authority (BCDA) after the agency regained control of the Camp John Hay property in Baguio.

BCDA said it secured three new 25-year residential lease agreements with private individuals for a 427-square-meter (sqm) Country Estate unit, a 449-sqm Country Homes unit, and 275-sqm Forest Cabin in Camp John Hay.

“More lease agreements with both commercial and residential lessors are expected to be signed soon,” BCDA President and CEO Joshua M. Bingcang said.

“This development is a step ahead of realizing our vision for Camp John Hay as a community where businesses and people thrive; all while ensuring that the area’s forests are protected and preserved.”

The redevelopment plans of BCDA for Camp John Hay builds on its 2024 Supreme Court victory, which reinstated a 2015 arbitral decision voiding CJH Development Corp.’s lease and mandating the property’s turnover to the state-run corporation.

In recent weeks, the state-run agency signed 15-year commercial lease agreements with Amare La Cucina, Baguio’s homegrown pizza chain, for a 1,500-sqm lot, and with

Top Taste and Trading Inc., a specialty cafe and restaurant, for the lease of an 800-sqm property in Camp John Hay.

BCDA and Metro Pacific Investment Corp. Director Victorico Vargas have also signed a fresh 25-year residential lease contract for two Forest Cabin units.

In December, Stern Real Estate and Development Corp. also signed a 25-year commercial lease with BCDA to continue the operations of Le Monet Hotel and Filling Station. Following the recovery of the Camp John Hay property, Manuel V. Pangilinan-led Landco Pacific Corp. assumed the role of interim manager of The Manor, Forest Lodge, and the CAP-John Hay Trade and Cultural Center. Meanwhile, BCDA said a new consortium consisting of Golfplus Management Inc. (GMI), the operations team behind the driving ranges in premium estates Nuvali and Alviera, and DuckWorld PH, a sports management agency, was also formed to oversee the operations and maintenance of the Camp John Hay golf course during an interim period. The state-run agency said that it aims to update and complete the 25-year masterplan of Camp John Hay this year as it seeks to transform the property into a new investment hub in Northern and Central Luzon. (See: https://businessmirror.com.ph/2025/01/13/ bcda-to-update-blueprint-for-development-of-cjh/)

UDGET carrier Cebu Pacific is

BEI stake

Vivant unit completes divestment of

VIVANT Corp. said Tuesday its wholly owned-subsidiary, Vivant Renewable Energy Corp. (VREC), has completed all of the requirements for the divestment of its stake in solar developer Buskowitz Energy Inc. (BEI).

“Vivant Corporation was given notice today…that VREC has complied with the post-closing requirements following the completion of the transaction documents for the sale of its equity stake in Buskowitz Energy Inc. to Aurora Sustainable Energy Pte. Ltd. through the Assignment Agreement executed in September 17, 2024,” it told the stock exchange. VREC sold its 32.26-percent stake in BEI, equivalent to 560,000 Common B shares, to Aurora Sustainable Energy. Lenie Lectura

SMC removes waste from Parañaque rivers

SAN Miguel Corp.’s (SMC) “Better Rivers PH” initiative has removed 93,000 tons of silt and waste from Parañaque rivers as of January 23.

The company said this effort aims to improve water flow and address perennial flooding at Ninoy Aquino International Airport (Naia) and surrounding areas.

The cleanup covers 1.9 kilometers of river channels, including the Parañaque River, Don Galo River, and their junctions with the San Dionisio and Villanueva creeks.

In addition to river cleanups, SMC has also de-clogged storm drain lines along Domestic Road and NAIA Terminal 4. This included reopening 54 manholes and constructing 10 new ones for better access and maintenance. These upgrades are seen to sustain flood prevention efforts around the airport complex.

SMC’s efforts, carried out at no cost to the government or taxpayers, are part of a broader mission to restore waterways and reduce flooding in urban areas.

Bathymetric surveys in Parañaque identified bottlenecks in river systems that restricted water flow to Manila Bay,

prompting targeted cleanup and desilting operations in critical areas. The project benefits from the active involvement of key government agencies such as the Department of Transportation (DOTr), Department of Public Works and Highways (DPWH), Department of Environment and Natural Resources (DENR), and the local government of Parañaque.

“Flooding has been a long-standing issue for Parañaque and NAIA, particularly during typhoon season,” said SMC Chairman and CEO Ramon S. Ang. “Through

Better Rivers PH and with support from government agencies, we were able to implement sustainable solutions that we hope will deliver lasting benefits to residents, businesses, and travelers.” Since its launch in 2020, SMC’s Better Rivers PH has removed over 8 million tons of silt and waste from 156 kilometers of rivers across Luzon, including major waterways like the Pasig River, Tullahan River, and San Juan River. SMC also continues similar cleanups in Laguna and Navotas City.

Beyeing a substantial increase in passenger volumes this year, targeting a mid-20 percent growth rate—outpacing the carrier’s expansion rate in 2024.

“We carried 24.5 million last year, and we are expecting a growth rate in the mid-20s for this year barring any supply chain issues,” Cebu Pacific President and Chief Commercial Officer Xander Lao said during a press conference. “That’s roughly another six million passengers.”

The carrier recorded a 17.6-percent increase in passengers carried in 2024.

The airline’s ambitious growth projections are fueled by strategic moves that began in the latter half of 2024. Lao highlighted the establishment of new bases in Davao and Iloilo, alongside the expansion of existing hubs in Cebu and Clark, as key factors.

“A lot of this work started in the winter of the 2024 season. We planted the seeds as early as the third and fourth quarters of last year,” Lao said.

Cebu Pacific received 17 aircraft deliveries in 2024, including larger A330 jets, which helped in boosting the airline’s capacity.

“This year, we’re going to take in roughly seven aircraft...which should also drive growth.”

Lao said the airline is adopting a two-pronged strategy to achieve its 2025 targets. One focus area is optimizing operations in Manila despite capacity constraints, while the other is tapping into higher growth opportunities in provincial areas.

“Clearly, establishing new bases and expanding routes are part of our strategy,” Lao noted. “We’re also seeing interesting data: regional and international operations are performing much better than expected. In the past, non-Manila routes were a little more difficult to stimulate.”

Part of this expansion of non-Manila routes, Cebu Pacific is introducing new flights out of its hub in Clark.

Starting March 30, the airline will operate daily flights to Coron and El Nido from Clark, providing travelers from the Greater Manila Area and North and Central Luzon with enhanced access to some of the world’s most stunning beaches and island destinations.

Lao said the addition of these routes is part of Cebu Pacific’s broader strategy to expand its Clark hub. Lorenz S.

Marasigan

Photo from www.bcda.gov.Ph San

Winter Fancy Food Show: CITEM takes PHL gourmet, specialty food to industry trendsetter

Strengthen your foundation

IN both sales and leadership, relationship-building is the main currency. And “the glue that holds all relationships together— including the relationship between the leader and the led—is trust” (Brian Tracy). Indeed, trust is the foundation of sales leadership. And if you wish to sustain and even increase your level of influence, begin by strengthening your foundation with your team, because as Roger Staubach, the famed Cowboys quarterback puts it, “If you don’t have trust in your company, then you can’t transfer it to your customers.” Here are three (3) tips to strengthen your foundation.

Develop your character

CH ARACTER is who you are inside and out. But make sure that it’s a positive one, because your character will define how people perceive you—are you worth following or not? At the end of the day, it’s all about how you treat people. Integrity, discipline, kindness, honesty, humility, perseverance, generosity, moral courage, and the likes are most likely what people are looking for sales leaders to exude. However, it is best to bear in mind that you can never dream yourself into having certain characters, you need to willfully work on it, and mostly during trials and intense challenges. I like how Abraham Lincoln described the relationship between character and reputation: “Character is like a tree and reputation like a shadow. The shadow is what we think of it; the tree is the real thing.”

Enhance your competence

AS a sales leader, competence is truly valuable. Without it, people’s trust may only be temporary and will surely fade as soon as people discover that you lack the ability to perform leadership tasks. Moreover, your confidence will most likely be on shaky grounds due to your lack of knowledge. Af-

ter all, competence is a function of confidence. Remember this:

“People will follow leaders who are stronger than themselves” (John Maxwell). This means that people tend to gravitate towards sales leaders who are perceived to have better competence. Hence, your influence increases as you enhance your competence. To do this, read books, attend seminars and learn from mentors on topics relevant to your endeavor.

Be consistent TRUST is a foundation that is built daily. It needs consistency. While character and competence are both essential elements of trust, without consistency it will simply come to naught. People need evidence that you can indeed be trusted, that you truly have a positive character, and that you possess the necessary skills in doing the job. And the only way to manifest this is by being consistent with your character and competence. You don’t need to always be exceptional, but you have to be dependable by being consistent. Apply the 21/90 Rule and display your character and competence for 21 days, and soon it will develop into a habit. Do this for 90 days straight and it will eventually transform into a lifestyle. You see, consistency is key. Keep in mind your 3-C’s in developing trust—character, competence and consistency. It’s a powerful combination that will definitely strengthen your foundation on sales leadership. God bless!

Alexey Rola Cajilig is the President of ARCWAY Consultancy Inc., Executive Director of ARC DOCENDI, and Senior Vice President & Chief Operations Officer of EM-CORE DOTNET Inc. He is a Sales Leadership Coach, Strategic Sales Operations Consultant, Christian Motivational Speaker, Human Ecologist and Author of The Effective Seller. He is also the creator of ARCH Styles, a behavioral and personality assessment & discovery tool. If you have questions and suggestions, you may send an email to alexey.cajilig@gmail.com.

DTI steps up for creative MSME in NV after ‘Pepito’

IN the wake of Super Typhoon Pepito, the Department of Trade and Industry (DTI) has stepped up to support local creatives.

On January 13, 2025, the agency awarded financial assistance to 40 micro, small, and medium enterprises (MSMEs) in the creative industry during a distribution ceremony. The ceremony was led by Acting Assistant Regional Director Atty. Michael Paggabao and Acting Provincial Director Ramil Garcia. They emphasized that the assistance was beyond monetary support. It represented the DTI’s commitment to help business owners

The Center for International Trade expositions and Missions (CITeM) has organized the Philippine participation in the Winter Fancy Food Show (WFFS) 2025 happening from January 19 to 21, 2025 at the Las Vegas Convention Center (LVCC), West Building in Las Vegas, Nevada, USA.

Sixteen (16) Philippine MSMEs under the FOODPhilippines banner are featured in the event as part of CITEM’s key thrusts in strengthening export demand for Philippine food, beverages, and ingredients this year. CITEM considers WFFS a key event for expanding the market presence of Philippine MSMEs in North America and other neighboring regions. As global export players focus on hitting the consumer pulse, the WFFS is the first extensive food event for the year that helps set the tone for what food retailers, buyers, and related services will bring to the specialty food table in 2025.

According to the event organizer, Specialty Food Association (SFA), continuous growth in the now over $200B specialty food industry is expected, and estimated sales to pass

the $220B mark in 2024. For 2025, reflecting steady growing demand, SFA predicts food trends to range from functional, real, and natural food to global flavors that are authentic and distinct, yet convenient to use, among others. Philippine food is prime for the specialty food sector in this regard as participating exhibitors are offering products that use homegrown and natural ingredients, many of which are traditional and reflective of culturally rich communities. These include premium baked delicacies, vegetable-based snacks and treats, as well as instant or ready-to-eat mixes for convenient recreation of popular dishes at home, or adapting to the taste preferences of consumers and establishments alike. Additionally, many of these products of-

fer cost-efficiency not only through sustainable sourcing but also with their stable shelf life.

Housed at the Philippine Pavilion are the following companies: CALE88 Foods Corporation, Fitrite, Inc., Fortune of Wishes Seafood Products, Profood International Corporation, The Cabalen Group, and consolidator North Ridge Foods Company, Inc. with brands from Alson’s Aquaculture Corporation, Bec and Geri’s Inc., Hopia King Bakery, Jeverps Manufacturing Corporation, KKK Food Corp., KSK Food Products, Mekeni Food Corporation, Prime Global Corp., Vegetari Vegetarian Products, and Zigmund Enterprises. The Philippine Pavilion is located at LVCC West Building-Booth nos. 2753, 2755, 2557, 2759, 2852, 2854,

2856, 2858. This year’s participation marks CITEM’s comeback after the pandemic.

Discover more about Philippine food as CITEM, the lead export promotion agency, holds the 18th edition of IFEX Philippines at the World Trade Center Metro Manila in Pasay City, Philippines from May 22 to 24, 2025.

IFEX Philippines is the Philippines’ biggest business-to-business and export-oriented international trade show for food, beverage, and ingredients.

Visit the Philippine exhibitors to the Winter Fancy Food Show 2025 at the Philippine Pavilion located at the West Hall of the Las Vegas Convention Center, West Building in Nevada, USA—Booth nos. 2753, 2755, 2557, 2759, 2852, 2854, 2856, 2858.

Why owning a Julie’s franchise is the perfect gift for generations

FAMILY has always been at the core of Julie’s, the country’s favorite neighborhood bakeshop. From second-generation president and CEO Joseph Gandionco, son of brand matriarch Julie Gandionco, to numerous secondand third-generation franchisees in charge of over 600 stores nationwide, families are the beating heart that strengthens Julie’s commitment to serve fresh and affordable breads to Filipinos.

“The longevity of our partnerships with our franchisees, some of whom have been with us for more than 20 years, is a testament to the business. With 40 years of experience and expertise, we can assure them of making it easy to venture into an investment that can be sustainable and reliable,” the younger Gandionco said.

overcome challenges and foster resilience within the community.

The beneficiaries expressed their heartfelt gratitude to the DTI Region 2 for the timely assistance. Many shared how the support would help them rebuild their businesses, restore their creative endeavors, and ultimately regain their livelihoods after the challenges brought by the typhoon.

This initiative has instilled renewed hope and determination within the Nueva Vizcaya’s creative community. These entrepreneurs look forward to a brighter future where their creativity continues to flourish despite adversities.

The stories of these Julie’s franchisees prove how the company was able to provide a thriving and successful business that lasts for generations.

Beginnings and successes

BUILDING a better future for their newborn child inspired Tony Mesina and his wife Mel to return to the Philippines in 2001 after years of working as overseas Filipino workers (OFWs) in China and Hong Kong.

“Though we had limited experience in doing business, and after consulting with our friends, we ventured into Julie’s Bakeshop because we believe that a food business is more resilient,” Mesina recalled.

More than two decades after opening their first Julie’s bakeshop, Mesina now oversees the operations of eight branches in Baguio and La Trinidad, which provide employment to around 120 people.

The family’s success has inspired the Mesina children to venture into the baking business. “We support and teach them in the day-to-day operation, financial aspect and, most importantly, people-handling skills, as these are essential for the success of the business,” Mesina said.

Julie’s growing family

T RONNIE Paunlagui, meanwhile, already knew her way around the bakeshop before taking over her par-

ents’ Julie’s branch in Quezon City. “My mom would often say that she will take care of this business for me in the meantime. She was really caring for it, nurturing it so that she could pass it on to me as a legacy,” Paunlagui recounted.

She chose to retire early from her corporate job and focus on learning the ins and outs of being a Julie’s franchisee. In 2019, Paunlagui officially took ownership of their family’s franchise, with the commitment to care for the business that her parents nurtured for more than three decades.

For her, while a food business is almost always lucrative, investing in a widely-trusted brand is also a key factor to success.

“Julie’s as a brand is now synonymous with the Filipino family. Every Filipino knows that we are the neighborhood bakeshop that can supply homes with hot, tasty, and quality breads,” Paunlagui said, adding that she is open to the possibility of passing on the torch to her two kids. Gandionco, on his part, expressed hopes that Filipinos with an eye for business can replicate Mesina’s and Paunlagui’s successes as Julie’s franchisees. “We are always excited to have new members of the Julie’s franchise family as it moves us a step further with our founder’s vision of feeding Filipino communities.”  For more details on becoming a franchisee, visit Julie’s website or follow its Facebook, Instagram, and X (formerly Twitter) pages. Julie’s franchise packages include the franchise fee, pre-opening and opening packages, machines and signages, and training, along with store construction that will serve as the main production site.

About Julie’s J ULIE ’S is the Philippines’ largest neighborhood bakeshop, serving every Filipino with everyday fresh, everyday sulit breads for more than 40 years. Fresh, steaming hot bread baked in full view of the customers and served with courteous greetings and warm smiles became the benchmark of Julie’s phenomenal success. With over 600 stores nationwide, Julie’s is committed to its mission of feeding Filipinos by having a Julie’s bakeshop in every barangay.

Get your greens in with tasty and convenient water spinach chips (kangkong) paired with a refreshing glass of natural Philippine lemon (calamansi) and ginger juice concentrate.

StartinG out as a humble bakery in Wireless, Mandaue City, Julie’s is now the country’s beloved neighborhood bakery, with over 600 stores serving fresh and affordable baked goods nationwide.

at the helm of Julie’s growing family is second-generation president and CeO Joseph Gandionco, son of founder Julie Gandionco. With him is brand ambassador Kim Chiu, whose sister, Lakam, owns Julie’s stores in Luzon.

Maharlika fund manager sees earnings to lower power costs

By Samuel P. Medenilla @sam_medenilla

THE Maharlika Investment

Corp. (MIC) said its stock dividends in the National Grid Corp. of the Philippines (NGCP) is expected to earn the government P1.2 billion a year and help bring down electricity prices.

According to the MIC, raising its shares in the NGCP by buying stocks from the State Grid Corp. of China (SGCC) remains on the table, especially if the stocks become available.

In a news briefing in Malacañang last Tuesday, MIC President and CEO Rafael D. Consing Jr. disclosed they allocated P19 billion to buy the 20 percent of the 40-percent shares of Synergy Grid and Development Philippines Inc. (SGP).

Consing said they expect to get a 6.5 percent dividend yield from the investment in three years.

That’s P1.28 billion per annum for the next three years, minimum, according to his calculation.

The MIC, to note, has a capitalization of P375 billion, P125 billion of which comes from the government.

Consing added that the dividend rate is expected to rise to 8 percent if they decide to convert their preferred shares to common shares.

Additional shares

THE MIC executive said they may further increase their shares in NGCP through the SGCC. “If [the shares] becomes available, I think so yes,” Consing said noting, however, they have yet to have a formal talks with the SGCC on the matter.

“We only saw this opportunity [at the] SGP level; we’re not having any discussions with the State Grid of China at this point in time,” he added. The SGCC currently has a 40-percent share in NGCP. The remaining 60 percent of NGCP are now with the MIC. The SGP, led by Henry T. Sy Jr., and the Calaca High Power Corp., headed by Robert Coyiuto Jr., owns 20 percent shares each. The NGCP shares of SGCC, which is owned by the Chinese government, has raised concerns in Congress possible foreign influence in the country’s transmission lines. Meanwhile, Consing said they

TBy VG Cabuag @villygc

HE East West Banking Corp. is cautiously optimistic this year, as the lender expects corporate earnings to do better this year on lower consumer prices, that would also mean lower interest rates by the central bank.

Bede Lovell S. Gomez, the bank’s chief investment officer said this year would be a straight line because as the corporate sector spends more, the government will also have to hike its expenditure due to the mid-term elections. The spending, however, will be front loaded due to the election ban on government projects.

“If your cost of borrowing slower and your refinancing cost becomes slower, of course, it improves your margin,” Gomez said. “A lower refinancing costs for most companies or for all companies, their cost of borrowing should also be lower. A lower interest rate will cause an increased demand for properties and consumer. And this is an interesting part, we expect a more active capital raising (for companies) moving forward,” he said. Gomez said what investors may be interested this year will be on technology, telecommunications, power and energy real estate investment trust sectors.

“And people are saying about renewable (energy). Yes, I think renewable is a good and it definitely is a long term investment. However, I was posed to the question then about coal, that coal should lose its market share,” Gomez said.

“Well, I have to argue against that, because at this point, coal is still the cheapest source of power. And yes, renewable wind, hydro will stay, but it’s (coal) not going to be gone tomorrow or next year, not even in the next five or even 10 years,” he said. Gomez said for the next six to eight months, it will be interesting to see the digital revolution that fintech firms such as GCash and Maya, which are both doing very well, will do for the market in general.

GCash, he said, will outpace the earnings of its parent firm Globe Telecom Inc.

“And it’s expected to generate P12 billion in 2024, (and more) in the next two years, it’s going to generate more than its parent Globe. And I think pay Maya is also leading towards that,” Gomez said.

currently see no existing “external threat” in the country’s power supply.

He said they are also open to working with the representatives of SGCC in the NGCP Board.

“In fact, I really don’t see any problem with them being there at the moment because I guess that’s beyond basically what we look at from the perspective of a financial investor,” Consing said.

Due dilligence

WITH the signing of the MIC and SGP agreement last Monday, it gives the former 20 percent shares and two board seats in the NGCP.

The MIC said the NGCP Board has yet to determine who will represent the government in its ranks.

Consing assured that the MIC exercised its due diligence before it decided to invest in the NGCP, which is now facing threats from some lawmakers of having its 50year franchise to operate the power transmission network revoked due to its alleged franchise violations.

“We’re aware of them (issues). And we have considered that in our analysis and pricing,” he said.

The MIC said it is prioritizing energy-related projects in line with the goal of the Marcos administration to bring down power prices.

“So, once we identified energy as our top priority, we’ve then decided to ask ourselves, which part of that energy ecosystem in fact requires the most numbers of investment, the biggest amount of investment and the highest impact? And that would be in the distribution lines,” Cons-

ing said. He said the government’s investment in NGCP can help bring in more investors in the firm allowing it to further enhance the country’s transmission lines.

“Once you have got that transmission grid infrastructure being rolled out successfully, then you would have more power players that can in fact get onto the grid and provide supply to the grid,” Consing said.

“And, obviously just like any commodity—as you’ve got more supply coming in, the present power will at some point in time will come down,” he added. This was echoed by Energy Secretary Raphael P.M. Lotilla who said the removal of constraints in the transmission lines will allow electric cooperatives or distribution utilities to access more power generators, particularly those with surplus supplies, in the power spot market.

“Definitely, the spot market prices for example for what we call the competitive customers, these are the ones with large [power] demand was around P5 -something per kilowatt hour in the more recent days,” Lotilla said.

“So, you compare that with generation rates that the captive customers, or those who cannot chose their supply and the difference between the two is quite big,” added the chief of the Department of Energy.

Lotilla explained this what happened with the completion of the Mindanao-Visayas Interconnection Project last year, which led to the spot market price drop of P1.99 per kilowatt-hour in Luzon, P1.77 in the Visayas, and P1.30 in Mindanao.

BankCom issues 3rd part of bond offer

By Cai U. Ordinario @caiordinario

PUBLICLY-LISTED Bank of Commerce (BankCom), an affiliate of San Miguel Corp., has tapped the local debt market with a dual-tranche peso bond offering.

In a statement to the Philippine Stock Exchange (PSE), BankCom said the bonds are being issued as the third tranche of its P50-billion peso bond program. The bank said the fixed rate bonds due 2027 (Series C Bonds) and fixed rate bonds due 2030 (Series D Bonds) have a minimum aggregate issue size of P5 billion with an oversubscription option.

“Proceeds from the issuance will be used for management of the bank’s balance sheet, diversification of funding sources, and general corporate purposes,” according to the lender.

DO you know how to calculate the interest you are supposed to be getting from your bank time de-posit placement? It would seem that a number of depositors do not know how to do this and just accept the calculations given to them by their bank. While I believe that the bank will not make a mistake in the interest amount calculation, it certainly will not hurt you to know how to make the calculation yourself. The simplest formula “I = Prt,” where “I” is the Interest amount earned for the period, “P” the original Principal amount of your placement, “r” is the annual interest rate and “t” is the tenor or period, which is placement days/360. Note that while there are 365 days in a year, the banking convention in calculating interest uses 360 as the denominator for tenors of less than one year.

Just as an example, you have a principal amount of one million pesos that you would like to put in a time deposit for 60 days and the bank quotes you a gross placement interest rate of 5 percent, how much interest would you earn in that 60 day period?

Using our above formula: “I = 1,000,000(.05)(60/360) = 8,333.33.”

According to BankCom, the Series C Bonds have a tenor of two years and a fixed interest rate of 6.1942 percent per annum while the Series D Bonds have a tenor of 5.25 years and a fixed interest rate of 6.3494 percent per year.

The interest shall be paid quarterly and the minimum investment amount is P100,000 with increments of P50,000 thereafter. The bank also said eligible individual investors that hold the Series D Bonds until maturity will enjoy a net fixed interest rate of 6.3494 percent per annum. “The public offer period runs from January 28 to January 30, 2025 12:00 noon. The Series C Bonds and Series D Bonds are targeted to be issued and listed on the Philippine Dealing & Exchange Corp. (PDEx) on February 19, 2025,” BankCom said.

BankCom appointed ING Bank N.V., Manila Branch (ING), Philippine Com-

This means that after the 60 day period, you will get an interest payment of 8,333.33 pesos. However, since there is a tax imposed by the Philippine government on your time deposit of 20 percent, this means that 1,666.67 pesos will be withheld by the bank and remitted directly to the government, leaving you with 80 percent of the gross interest amount of 6,666.66; plus, of course, your principal amount of one million pesos.

This brings us to the next fundamental concept of compounding.

This means that should you decide to roll over your time deposit for both the principal amount and the interest earned under the same terms, the interest amount you will get will now be more because your principal amount has grown to P1,006,666.66. Therefore, after another 60 days, the

GSIS infra investments yielded ₧15.8-B payout

By Reine Juvierre Alberto @reine_alberto

INFRASTRUCTURE investments of the Government Service Insurance System (GSIS) yielded an approximate P15.8-billion ($272 million) payout, according to the state-run pension fund.

A statement issued by the GSIS last Tuesday read that the funds it invested in the Macquarie Asia Infrastructure Fund 2 (MAIF-2), managed by Macquarie Asset Management Holdings Pty Ltd., earned P15.8 billion on top of its previous gains.

The earnings come after the sale of the MAIF-2’s stake in AirTrunk Singapore Pte. Ltd., a leading data center operator in the Asia Pacific region.

The BusinessMirror learned that the GSIS has invested $286.5 million in the MAIF-2, representing 0.92 percent of the pension fund’s total assets. Total payouts from that fund amounted to $332.5 million.

The funds were invested in transportation, communications, utilities, power, energy and waste management assets across Asia Pacific, according to the pension fund’s financial statement.

“[T]he funds are invested to earn solid returns, helping to boost the financial strength of the GSIS and its capacity to cover pension payments of retired civil servants in the

future,” the GSIS said.

The GSIS began its partnership with Macquarie Asset Management in 2012, investing in the Philippine Investment Alliance for Infrastructure (PINAI) to support local infrastructure development. The pension fund later invested in the Macquarie Group subsidiary’s regional infrastructure funds in 2017 and 2021 to diversify its portfolio.

“We have a duty to invest prudently on behalf of our millions of hardworking government employees,” GSIS President and General Manager Jose Arnulfo A. Veloso was quoted in the statement as saying.

“Our infrastructure investments through MAM’s funds have delivered excellent results, enhancing retirement security while supporting critical infrastructure.”

The GSIS allocates 70 percent of its investment portfolio to low-risk assets for stability and a strategic portion in higher-yielding infrastructure investments to drive returns and support pension fund growth.

Total assets of GSIS amounted to P1.8 trillion as of the third quarter of 2024.

The pension fund’s net income from operations expanded by

Electronic tax software provider targets SMBs

mercial Capital, Inc. (PCCI Capital), Security Bank Capital Investment Corporation (Security Bank Capital), and Standard Chartered Bank (SCB) as Joint Lead Arrangers and Joint Bookrunners for this issuance.

BankCom is also acting as a Selling Agent for the offering, together with ING, PCCI Capital, Security Bank Capital, and SCB.

Last year, BankCom said its recorded net income was at P2.2 billion as of September 2024, a 10 percent increase from the P2 billion reported in the same period in 2023. Return on Equity stood at 9.27 percent, more than double the Bank’s Initial Public Offering prospectus ROE of 4.22 percent. The Bank’s healthy profit was backed by growth in its core lending business with net interest income growing by 11 percent year on year. Growth was registered across all lending segments.

interest amount you will get will be “1,006,666.00(.05)(60/360)(.80) = 6,711.11.”

While the interest amount difference of 44.45 pesos between the first time deposit versus the sec-ond one my not seem large, doing this renewal over several periods has a compounding effect of growing more each cycle. This is what is meant by letting your money work for you. Under the right conditions you could literally live on interest for the rest of your life. We can talk more about that in one of my future columns. I hope this article has helped expand your financial literacy. Happy Chinese New Year to you all!

The views and comments of Dr. George S. Chua are his own and not of the BusinessMirror or the Finex Financial Executives Institute of the Philippines (Finex). The author was 2016 Finex president, 2010 to 2020 FPI president, an active entrepreneur in fintech, broadcast, media, telecommunications, properties and a regular member of the National Press Club. Dr. Chua is also a professorial lecturer 2 at the University of the Philippines Diliman and BGC Campus and vice chairman of the Market Governance Board of the Philippine Dealing and Exchange Corp. Comments may be sent to georgechuaph@yahoo.com or gschua@up.edu.ph.

SMALL- S CALE and mediumsized businesses (SMBs) in the Philippines can now streamline their tax compliance and financial management with artificial intelligence-powered electronic tax software.

In a statement, “Juan Tax” app operator Ten Elleven Manila Inc. (Temi) said it partnered with the local unit of Singapore-based Jaz Corporate Pte. Ltd. To launch the “Juan Accounting Software” (Juan).

“With this merger, we’ve combined local expertise and Jaz’s advanced accounting technology infrastructure to create Juan–a solution that’s built by Filipinos, for the Philippines,” Temi Co-founder and CEO Marvin Galang was quoted in the statement as saying.

According to Galang, the “Juan” solution integrates accounting, payments, financial reporting and tax compliance into one platform, built on Jaz’s patented multi-agentic system. The platform will deploy autonomous agents that specialize in local accounting and tax standards.

“This innovation addresses the country’s accounting labor shortage by enabling firms to scale operations efficiently while maintaining quality and compliance,” the statement from Temi read.

The platform is also tailored to Filipino SMBs and accountants for its localized and user-friendly design,

unlike other generic international software, according to the company. Pain points faced by Filipino SMBs, such as reliance on clunky spreadsheets and multiple tools to manage their accounting and tax needs, will also be solved.

“Its integration of accounting and tax processes eliminates the need for multiple tools, allowing businesses to focus on what matters most— growing their ventures,” according to Temi. It added that the “localized” features of “Juan,” such as adherence to the Bureau of Internal Revenue (BIR) regulations, ensure businesses stay compliant while reducing the burden of manual processes.

“Southeast Asia is at a tipping point in accounting innovation, and we’re doubling down on the Philippines being one of the leaders in next-gen accounting and finance tech,” Jaz Founder and CEO Ajay Gopal said. Temi traces the roots of the “Juan” solution to its “JuanTax,” the Philippines’s first fully accredited electronic tax software recognized by the BIR. Launched in 2017, Temi’s “JuanTax” app has become a “trusted partner” for accountants and businesses, serving thousands of active users and building a growing network of

George s. Chua

Ten elleven Manila Inc. CeO Marvin Galang, Vice President Jenny Galang and Controller no rbert enriquez CREDIT: TEn EllEvEn ManIla InC

‘Shed what no longer serves’ this Year of the Wooden Snake

By Jt Nisay

THE general characteristics of any given year are believed to reflect the traits of its designated Chinese animal zodiac sign. Twenty twenty-five being the Year of the Wooden Snake, this year promises to be one of “adaptability, diversity, and lateral growth.”

Chinese metaphysics master Venus Wang returned for the second straight year to Shangri-La Plaza’s Lunar New Year celebration last week at its Grand Atrium. The event, titled Unlocking Wisdom, Wealth & Wellness, featured Wang’s Venusology session centered on her insights for the new year.

“Shed what no longer serves, much like a snake casting off its skin, to embrace the opportunities ahead,” read one of the presentation slides of Wang, who’s also a seasoned real estate practitioner. As a feng shui expert, she has served high-profile clients worldwide, spanning the Middle East, Southeast Asia, and Europe.

Wang said 2025’s energy will be split into two: the first half will be wood (delicate nature) and the second, fire (fiery transformation). The combination spells uncertainty, and even an “undercurrent of rebellion.” This means that the status quo may be challenged—what one might have enjoyed these past few years might not be enough.

“This year, you have to embrace diversity,” Wang said. “Diversity is no longer a luxury, but a necessity.”

The feng shui expert emphasized embracing new ideas, strategies, and technologies. It may be time, for instance, to start exploring digital marketing on a more serious level, “to create more presence, to stand out.”

“There’s no more comfort zone,” she added.

Wang also discussed what’s in store for each of the animal signs for this year, clustering them according to their shared traits. She described the Goat, Ox, and Tiger as the “against-the-odds fighters,” and the Snake, Pig, and Monkey as the “witty risk rangers.” The “rock steady captains” include the Dragon and the Dog, while the “lucky fortune favorites” are the Horse, Rooster, Rabbit, and Rat.

As for business owners looking to thrive in the Wood Snake Year, Wang shared these five tips:

1. Focus on growth and expansion. “Develop new products or services, and enhance marketing efforts.”

2. Enhance wealth and prosperity. “Use wealthenhancing colors and add plants on the east/south corner of your space.”

3. Build strategic partnerships. “Develop networking, use metal elements, and attend industry events.”

4. “Choose an auspicious day for launching of products and marketing campaigns.”

5. “Choose key personnel with good luck in 2025 to enhance business decisions/ideas to front the company”

Aside from Wang’s presentation, the event also featured a performance by the Filipino Chinese Dance Theater Company. Representatives from the Shang and its partners figured in the celebrations by participating in the Chinese New Year tradition of the Yee Sang prosperity toss, believed to attract good fortune for the upcoming year.

The event forms part of the Shang’s string of activities for welcoming the Lunar New Year. Other activities include a Lunar Luck Fair from January 25 to 29, an Eye-Dotting Ceremony and Fireworks Display on January 28, and a mall-wide Dragon & Lion Dance on January 29. Capping off the week-long celebrations is the 19th Chinese Spring Film Festival, running from January 29 to February 2 at the Red Carpet Cinema.

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From feedback to flourish

PERFORMANCE appraisals play a crucial role in improving employee performance, fostering development, and achieving organizational goals. However, conducting these appraisals requires understanding the cultural values that influence employee behavior and expectations. For us Filipinos, cultural traits like pakikisama (harmonious relationships), hiya (sensitivity to social expectation or propriety), and utang na loob (debt of gratitude) significantly shape workplace dynamics. In conducting performance appraisals, how do you balance objectivity with these values?

We value maintaining harmonious relationships, so start the performance appraisal by creating a safe and open environment where both you and your team member can openly communicate. Instead of diving straight into feedback, begin with light conversation or praise for recent achievements. You can start with praising them for something they did well in a recent project and asking them how they find the workload of late. This helps the team member feel at ease and sets the tone for a constructive discussion.

Before giving your own evaluation, ask for their self-assessment to make the appraisal a collaborative discussion rather than a top-down evaluation. Ask them their biggest accomplishments for the year

and the areas where they need to improve. Then follow through with acknowledging their major contributions that they did not mention because you want to set the tone by recognizing the work they did for the team. Before discussing areas for improvement, take time to highlight the team member’s successes and efforts. This not only boosts morale but also reinforces a sense of belonging. Be specific in what you are praising them for and emphasize the skills and behaviors that helped the team reach its targets and how it impacted client satisfaction.

Giving constructive feedback can be tricky due to the concept of hiya, where direct criticism might cause embarrassment. You need to address areas for improvement carefully. You can do this by framing areas for improvement as opportunities to grow, and focus on solutions rather than shortcomings. Instead of saying, “Your reports have been late and incomplete,” you could say, “I noticed there were some delays in the last two reports. Let us discuss how we can better manage timelines and ensure everything is complete.” By helping them agree on a solution, you are making them accountable for their own development.

The spirit of bayanihan also emphasizes collective success and teamwork, which is similar to the value of pakikisama. You can take advantage of this by tying individual performance to team and organizational achievements to motivate your team. By providing a clear line of sight from your team’s individual efforts to the organization’s achievements, you are reinforcing how each member contributed to the organization’s success.

Once appraisals are laid down, you need to set clear expectations on what is expected from your team members after the performance appraisal because ambiguity can lead to misunderstandings. Be specific when setting goals, and ensure team members

understand what they need to do. Use tools like SMART (Specific, Measurable, Achievable, Relevant, Time-bound) goals to provide clarity and ensure alignment to the team’s overall targets. Once goals are set, show your commitment to their development by offering opportunities for professional development or other learning interventions targeted to help them reach their targets.

It is also important that you provide regular and consistent feedback to avoid surprises during formal appraisals. Regular discussions build trust and keep employees on track. You can schedule one-on-one meetings where you review progress, celebrate small wins, and address any issues. A simple “I noticed your presentation was well-researched. Keep up the good work” during casual interactions can also go a long way in keeping your team motivated to do their best.

Celebrating achievements, however small, reinforces motivation and loyalty. Successes do not have to be monumental to be celebrated because even small wins deserve recognition. If a team member exceeded their target, recognize this during a team meeting and, if possible, accompany this with a small token of appreciation, such as a gift card, a lunch treat, or even a pat on the back. Make sure you do this publicly so that other team members understand what success looks like so they know what to aim for in their own work.

By embracing the cultural values that shape workplace dynamics and affect the way we relate with one another, you can create a performance appraisal process that balances the needs of your team with the team’s targets.

The goal is to foster a growth mindset, strengthen relationships, and align individual contributions with the organization’s success. When performance appraisals are done well, they can be used to develop a culture where everybody flourishes. n

A healthy resolution for 2025? Start a garden. Tips for beginners

JANUARY is traditionally a month for fresh starts and resolutions, many of which center around self-care. And if you’ve spent any time watching television or scrolling social media this month, you’ve likely been bombarded with diet and exercise pitches. But there’s another route to self-care that influencers rarely mention: gardening. A few hours spent outdoors nurturing fruits, flowers and vegetables each week can provide physical exercise, stress reduction, vitamin D and even a better diet—all without a membership fee. And getting started is easy.

n Start small. As with any new hobby, an overzealous, gung-ho approach will likely backfire, so it’s best to start small. Although you may happily keep up with a large garden at first, chances are you’ll become overwhelmed by midsummer, resulting in a dead, weedy disappointment to harvest. Instead, begin by planting a small patch of flowers by the front door, one or two rows (or raised beds) of vegetables or a couple of containers.

n Decisions, decisions. Are you dreaming of garden-fresh salads, a succession of colorful perennials—or both? Research your favorite plants’ sunlight, soil and water requirements, and decide where each would thrive best.

If you’re looking to save money on produce, consider which fruits, vegetables, and herbs you and your family would enjoy the most and which would cost the most at the supermarket. Growing your own berries and herbs, for instance, can reap significant financial—as well as nutritional—benefits.

n How to choose your site. Although we can

supplement our plants with fertilizers and water when needed, the sunlight they receive is entirely out of our hands—and it’s vital for their survival.

Most fruits, vegetables and flowers need at least a partial sun exposure to grow, flourish and produce. Check seed packages and plant tags for the light requirements of each plant you select and situate it accordingly. If your garden is primarily shady and your favorite plants need full sun (or vice-versa), grow them in containers, which can be placed in optimal growing conditions and even moved around to chase (or avoid) the sun, if necessary.

n Planting with space to breathe. Resist packing plants closely together for instant gratification. Doing so can result in overcrowding and underdevelopment faster than you can say “root rot.” Instead, space them according to the recommendations on their plant tags or seed packages and exercise patience.

n What’s the best way to water? It’s no fun lugging heavy watering cans to and from a faraway spigot, so plant your garden near a water source. Avoid overhead watering. Drip irrigation is ideal, as it delivers water directly to plants’ root zones, where it’s needed, instead of sprinkling foliage, which can result in mold and fungal diseases. Soaker hoses are widely available and easy to snake through beds and borders. Using a timer will automate the process. Plants growing in containers typically need more water than their in-ground counterparts. Stick your finger into the pot and water plants when the soil feels dry at knuckle depth. Soil can dry out more than once daily, depending on the

weather and your region. Water s-l-o-w-l-y until the excess drains from the holes in the bottom of the container.

n Do you need to fertilize? Some plants, like most herbs, almost never need to be fertilized. Others, like annuals, roses and tomatoes, are heavier feeders. Learn the nutritional requirements of your plants and follow the recommended dosing schedules.

Layering, or “top dressing,” garden soil with 2 inches of compost will add nutrients, often reducing or even eliminating the need for supplemental fertilizer. As with water, potted plants often require more fertilizer than those growing in garden beds. Follow package directions. n Watch for weeds. It’s important to keep gardens free of weeds, which compete with plants for water, nutrients and, in the case of tall weeds, sunlight. Removing weeds as soon as they appear, before their roots fully anchor into the soil, is best for the garden, as well as your back. Always pull or dig up weeds by their roots, then dispose of them in the trash (or compost them if they haven’t yet produced seeds). Never leave weeds lying on the soil, where they could re-root or re-seed.

n Going forward. I’ve killed my fair share of plants over the years, and you might, too. Go easy on yourself. Gardening is about getting your hands dirty, breathing fresh air, feeling the sun on your face and learning as you go.

Next year, with a season’s worth of experience under your tool belt, you’ll be ready to expand your garden, little by little. AP

Editor: Gerard S. Ramos

Wilcon Depot, UST Mark a New Era of Innovation in 2025

AS 2025 begins, Wilcon Depot, the Philippines’ leading home improvement and construction supply retailer, embarks on another journey by formally signing an agreement with the University of Santo Tomas (UST) to establish a research institute at UST Santa Rosa aimed at advancing academic innovation and multidisciplinary research.

The University of Santo Tomas (UST), under the leadership of Rector Rev. Fr. Richard G. Ang, O.P., and Wilcon Depot Inc., led by its founder and Chairman Emeritus William T. Belo, a proud Thomasian from class 1973, and Wilcon Depot’s President and CEO, Lorraine Belo-Cincochan have formally signed an agreement to establish the UST Dr. William T. Belo Interdisciplinary Research Institute (UST-WiTBIRIn).

On September 28, 2023, the University of Santo Tomas awarded Belo with an honoris causa degree, recognizing his exceptional contributions to his field and lasting impact on society. This prestigious recognition underscores his dedication to

advancing both industry and community.

In January 2024, Belo participated in the groundbreaking ceremony for the UST Dr. William T. Belo Interdisciplinary Research Institute. The event featured a ceremonial capsule laying and soil turning, symbolizing the official commencement of construction and marking a significant milestone in the realization of this visionary project. His presence highlighted his commitment to fostering innovation and collaboration in education and research.

With an initial projected cost of P300 million, the groundbreaking institute will feature 25 cutting-edge laboratories spread across a four-story, 8,311-square-

meter facility. This initiative represents a significant milestone in fostering academic innovation and multidisciplinary research in the Philippines.

Once operational, the UST-WiTBIRIn will cater to diverse research disciplines, fostering collaboration among scholars, industry leaders, and policymakers to drive technological advancements and community-centric solutions.

For the company, this partnership symbolizes the shared dedication of UST and Wilcon Depot to nurturing innovation, academic excellence, and societal development, creating a brighter future for generations to come.

For more information about Wilcon, you may visit Wilcon Depot or explore www.wilcon.com.ph, follow their social media accounts on Facebook, Instagram, and TikTok, subscribe to and connect with them on Viber Community, LinkedIn, and YouTube, or contact the Wilcon Depot Hotline at 88-WILCON (88-945266) for inquiries.

Dogs of all breeds, sizes come together for Asia’s biggest show

DOG lovers from all over the country and the world came together for the biggest dog show in Asia, the Philippine Circuit 2025, held from January 9 to 13, 2025 at the Smart Araneta Coliseum.

Organized by the Philippine Canine Club, Inc. (PCCI), an organization dedicated to promoting the love for purebred dogs, the event drew thousands of participants and spectators, solidifying the Philippines’ status as a premier destination for worldclass canine competitions.

The 2025 Philippine Circuit concluded with standout victories that showcased the excellence of its competitors. An American Cocker Spaniel earned the title of Grand Champion, while a Borzoi claimed Best in Show, impressing judges with its grace. A

Chow Chow was also awarded Best in Show for Philippine-born dogs, highlighting the skill and dedication of local breeders.

This year’s event made history with the introduction of the first-ever National Grooming Team Competition, a pioneering addition that highlighted the artistry and skill involved in dog grooming. Alongside this competition were the AllBreed Championship Dog Shows, judged by 17 international experts. With 7,560 entries, representing 96 breeds, and daily participation reaching 1,890, the event showcased the best of canine poise, agility, and conformation.

“This year’s addition of the National Grooming Team Competition set a new benchmark for the Philippine Circuit. It not only highlighted the artistry and expertise

Mang Inasal joins Sinulog Festival to launch ‘Love the Flavors, Love the PHL’ campaign

MANG Inasal, together with the Department of Tourism, kicked off the “Love the Flavors, Love the Philippines” campaign at the 2025 Sinulog Festival in Cebu City, a vibrant celebration honoring the Sto. Nino, the beloved image of the Child Jesus.

In support of gastronomy tourism, Mang Inasal treated both locals and tourists to a range of exciting freebies, promos, and fun activities throughout the festival.

The celebrations began with a special one-week Sinulog Fiesta Feast at Mang Inasal’s Cebu City stores. Customers were treated to a free small drink with every order of the Solo Fiesta Chicken Inasal paired with Extra Creamy Halo-Halo, making their festive experience even more enjoyable.

The fun celebration spread to Mactan International Airport as Mang Inasal kept the excitement going by serving free Extra Creamy Halo-Halo and Crema de Leche Halo-Halo to hundreds of visitors. The event also featured special appearances by Mang Inasal’s endorser

Coco Martin and his fellow cast members from “FPJ’s Batang Quiapo,” making the celebration even more memorable.

In addition to the delicious offerings, Mang Inasal took time to honor Sinulog Festival Queen Sofi Maxim Grenmo from Lapu-Lapu City with the “Unli Ganda” award and supported the Banauan Cultural Group during the lively Street Parade, further enriching the cultural experience.

With the Sinulog Festival wrapped up, the “Love the Flavors, Love the Philippines” campaign is set to continue its journey, with the next stop being the Dinagyang Festival in Iloilo this January. Be sure to stay updated on all the IHAWtastic happenings by following Mang Inasal’s website and social mediaaccounts! Want more Mang Inasal exclusives NOW? Visit https://manginasal.ph for the latest news, https:// manginasaldelivery.com.ph for delivery deals, and follow Mang Inasal on social media for more Ihaw-Sarap and Unli-Saya updates!

PlayTime Partners with TV5’s Alagang Kapatid Foundation

PLAYTIME , the fastest growing online games platform in the country with over 20 million subscribers and growing, through PlayTime CARES (Community Action, Relief, Empowerment and Sustainability), its corporate social responsibility (CSR) arm recently launched a partnership with the Alagang Kapatid Foundation, Inc. (AKFI), the social development arm of TV5.

“We hope that with our partnership with Alagang Kapatid Foundation of TV5, we will be able to help alleviate the plight of our kababayans who have undergone unfortunate incidents and uplift the underprivileged sectors of society. Together with AKF, we are here to provide for their basic needs, assist them to get back on their feet, give them hope and be there strength to rebuild their lives. They can count on us for help especially in times of urgent needs,” says PlayTime Senior PR Manager Jay Sabale.

behind grooming but also elevated the level of competition, showcasing the incredible talent of both local and international participants,” Irene L. Jose, Chief Operating Officer of Uniprom said.

Nine show rings were set up at the venue to accommodate the massive number of entries, ensuring a seamless flow of the competitions. Attendees also marveled at the diversity of breeds on display, from majestic Golden Retrievers and French Bulldogs to charming Siberian Huskies and Pomeranians.

The event’s scale and energy made it a true celebration of the best in canine excellence.

“This event is not just about competition,” Jose said. “It’s about celebrating the bond between humans and their dogs, the dedication of handlers, and the artistry behind grooming and training.”

The Philippine Circuit 2025 was more than just a competition—it was a vibrant showcase of talent, community, and a shared passion for purebred dogs. With unforgettable performances and a strong sense of camaraderie, the event exemplified PCCI’s commitment to elevating canine excellence and putting Filipino talent on the global stage.

“The Philippine Circuit has grown into a globally recognized platform for the appreciation of our canine friends, showcasing Filipino talent alongside the world’s best. This prestigious event has become a source of national pride, highlighting the Philippines’ capabilities and influence on an international stage. Its continued success reflects our dedication to fostering homegrown talent and its rising stature in the global community,” Jose explained.

For her part, Alagang Kapatid Foundation Executive Director Menchie Silvestre expresses her enthusiasm saying, “We are grateful for PlayTime CARES and we look forward to engage with them for more meaningful CSR activities that create a positive and lasting impact to the less fortunate.”

PlayTime CARES aims to provide support especially in times of crisis and disasters. To start the series of CSR activities, a total of 1,000 kitchen starter sets composed of thermos, plates, bowls, glasses, and other materials were provided to support the Tondo fire victims. Members of the PlayTimeKada were also present in distributing hot meals to the beneficiaries.

Aside from the turnover of basic provisions for the kitchen, PlayTime CARES held a feeding program for the affected Tondo community.

Jeff Dy, the bearer of sheer excellence, Epitome of an Empowered Artist

JEFF Dy sets the standard for high caliber and great competence. He influences people not only through his warm personality but also through his artistic talents. He colors the world with beauty and life.

A certified events maverick, Dy is a pro in adding beauty and glamor to everything he touches. He organizes exceptional gatherings with aplomb.

Not only is he a maven in the hair and makeup industry; he also aces at performing. Name it and Dy does it with grace and style.

Dy is a true-blue alumnus of leadership, skills and talent at Chiang Kai Shek College. Even at a very young age, he excelled at everything he did. He can turn any struggle into triumph.

He is an accomplished degree holder of Fine Arts Major in Industrial Design from one of the country’s leading educational institutions, the University of Santo Tomas. Many have been called but only a few have been chosen. The name Jeff Dy is one of the blessed ones.

With immense pride and honor, he also finished his master’s degree in public administration in 2022.

While waiting for his Doctorate application, he opted to focus and succeeded in his true passions - the fields of hair and makeup and choreography. He strongly believes that his indefatigable commitment to his craft, coupled with his deep love for what he does and countless prayers, is the anchor to his further successes in life.

Dy is a well-known name in the Filipino - Chinese fashion circle for his outstanding hair and makeup artistry.

Spanning two decades of experience, he is the goto hair and makeup provider for several well-known VIPs and personalities. He surely knows the paramount and astonishing beauty services his clients need, from traditional setups to modern-day aesthetics.

knows many aspiring artists will arise. As they say, the spotlight can be deceiving. That’s why he makes sure he remains grounded and always willing to reinvent himself and to learn more.

Coming up with numerous choreographies at 13 was extremely challenging, but he aced each beat with so much power and devotion.

During his formative years in nursery school, he was already a fixture in dance performances, contests, and shows. In every step of the way, he was enthusiastically persistent in learning new moves, styles, and genres. An all-time performer, he gives the finest presentation every time he performs on stage, boarded together by his love and passion for singing and dancing.  Dy was recently named Premier Achiever in

only as good as your last performance.” He

Tried and true, he has worked with several modeling agencies, wedding coordinators, designers, photographers, magazines and TV stations specializing in prenups, weddings, debuts, full fashion spread photoshoots.  Now with numerous trophies and recognitions, Jeff Dy never stops pushing the boundaries. He lives by the mantra

THIS world-class event brought together the finest canine breeds and enthusiasts from around the globe, celebrating excellence, talent, and the special bond between humans and their furry companions

Editor: Tet Andolong

PH1WD set to be a game changer in the affordable segment

By Rizal Raoul S. Reyes @brownindio

PH1 World Developers (PH1WD), the real estate arm of Megawide Construction Corp., is determined to be a game changer in the affordable housing market segment in the country.

In his opening speech during the launch in Quezon City, PH1WD Chairperson and CEO Edgar Saavedra said the company wants to deliver quality homes that Filipinos should be getting. “We are pushing the limit in the Philippine construction industry by developing and bringing new technology from Japan and Germany to the Philippines,” Saavedra said as he introduced the company's three latest projects-One Lancaster Park in Imus, Cavite; Southscapes Trece Martires, Cavite; and Lykke Kondo in Pasig City.

He pointed out that the strategy of PH1WD is to push further their products to the lower segment below P2.5 million and bring in the same quality, production method, and the right specifications. After successfully building a track record in the construction industry in the past 27 years, Saavedra said Megawide Construction Corp. decided to go into the housing market particularly the affordable segment to address housing backlog estimated to be around 6 million homes. This is our own vision and we want to capitalize on it.

PH1WD President Gigi Alcantara said the company will introduce quality living that is affordable to Filipinos. “At PH1 World Devel -

opers, we transform spaces into something extraordinary through innovation and technology that ensures highest quality and value for money” she said during the launch held in Quezon City.

New projects from PH1WD PH1WD introduced new developments: One Lancaster Park in Imus, Cavite; Southscapes Trece Martires, Cavite; and Lykke Kondo in Pasig City.

One Lancaster Park Tower 3: Responding to the challenges in condo living

On E L ancaster Park is PH1WD’s flagship residential condominium in Lancaster n ew City. Spanning 10 hectares with generous open space, it offers units with a free upsize feature, providing up to 17 sq m of additional space at no extra cost. Prices start at P134,000 per sq m, allowing buyers to save up to P2 million on loft spaces, with a sample 2-bedroom unit offering 49 sq m of floor area at competitive rates.

One Lancaster Park is located just 10 minutes from Cavitex Expressway and 10 minutes from Manila International Airport, located in Cavite, Lancaster Park has 64 economic

Century Properties’ Hotel Residences at Acqua delivers hotel-fitted, move-in ready condo suites

For over 38 years now, one of the country’s top real-estate developers, Century Properties Group (CPG) has been building not only quality homes in prime locations, but also delivering added value through thoughtful amenities and services that enhance the residents’ lives.

o n e such project of CPG that tick the boxes for those seeking the ultimate hotel living in the Metro is the Hotel r e sidences at Acqua—composed of beautifully-styled, hotel-fitted, completely furnished, and move-in ready condo suites nestled in the sixth tower of Acqua Private r e sidences. Strategically positioned for seamless accessibility through the Mandaluyong Bridge from Makati City and the newly opened vehicular gate connecting directly to the expanded Estrella-Pantaleon Bridge, this development offers prime access to Makati-CBD, and EDSA. Built by a trusted developer with extensive experience in the real-estate industry, The Hotel r e sidences at Acqua sets a new benchmark in the Philippines’ real-estate landscape. According to CPG VP for Corporate Communications and Head of Marketing Julienne Cruz, “We take pride in this project, The Hotel r e sidences at Acqua as it redefines hotel-style living in the country. This premium development features fully furnished, move-in-ready condo suites equipped with hotel-grade amenities, offering a total of 152 premium units. All you really have to do is bring your personal items and move-in.”

Spanning floors 19 to 20 and 22 to 30 of the sixth tower at Acqua Private r e sidences, each unit

end-use option. o p en to both Filipinos and foreign nationals, this opportunity allows anyone to claim their piece of hotel living. Experience the tangible reality of hotel living with The Hotel r e sidences at Acqua. These hotel-fitted, fully furnished, move-in-ready condo homes are not just residences but a lifestyle choice. o n ce you checkin, you never have to rush into checking out because ownership of these hotel-fitted condos is your ticket to a lifetime of indulgence.

The Hotel r e sidences at Acqua beckons you to a life of sophistication and comfort. Seize the opportunity today and own your hotel-fitted condo. Embrace a lifestyle where sophistication meets comfort, and checking in means a lifetime of indulgence. For more information, visit www.hotelresidencesatacqua.com.

The Hotel r e sidences at Acqua is located at Coronado St. Barangay Hulo, Mandaluyong City 1550 Philippines. The Hotel r e sidences at Acqua is not associated or affiliated with the Accor Group and the Novotel brand. The information presented is based on the current development plan which has been created with great care, diligence and effort. Should the need arise, the developer and property management reserve the right to make modifications and changes to the building design, specifications, features, prices and terms without prior notice. It is the responsibility of the client to confirm any changes or modifications.

The developer and property management shall not be liable for any claims arising from the information contained herein.

zones, 126 industrial establishments, and rapid infrastructure developments such as the Sangley International Airport and a Bus Rapid Transport (BRT) system by Megawide.

Southscapes Trece Martires: Cost-efficient and energy-efficient horizontal communities

S O u T HSCAPES Trece Martires is PH1WD’s second horizontal development. Situated on a 5-hectare lot with a possible expansion, it offers 343 units with prices ranging from P3 million to P10 million, and an inventory value

of P1.8 billion in total.

PH1WD continues energy-efficient innovations in its horizontal developments designed to reduce costs and enhance comfort for entire communities. These include Solar Save, with solar panels strategically integrated into developments to cut energy consumption; Resi-Shade, an advanced window technology that keeps homes cooler, reducing reliance on air conditioning; and TropiCool Insulated Walls, which are engineered to stabilize indoor temperatures, ensuring year-round comfort.

THE P hilippines’ leading integrated property developer, Vista Land, continues to bring the lifelong dream of homeownership to many Filipinos across the archipelago with its MOVE Program. True to its meaning of Making Ownership at Vista Land Easy, its objectives are to streamline the purchase process of select ready-for-occupancy (RFO) house and lot developments and condominium properties in 47 provinces and 149 cities and municipalities and encourage stronger affinity from prospective homeowners in a competitive market.

Industry experts have observed that favorable macroeconomic conditions create a conducive environment for real-estate investments, with key drivers such as interest reductions, a growing pool of skilled workforce, and increasing disposable incomes bolstering growth in the residential sector. The transition toward secondary cities and suburban areas—driven by the surge of hybrid work, a preference to settle in safer environments, and improved infrastructure—has redefined homeownership priorities among young professionals, growing families, and Overseas Filipinos (OFs). The demand for RFO properties has gained traction due to their immediate availability, addressing the needs of these evolving demographics.

versatility as an investment or an exquisite

Vista Land solidifies its role as a trusted leader in the industry by strategically anticipating and adapting to consumer demands and delivering high-quality, secure, and comfortable living spaces. By building master planned developments, horizontal properties, and vertical residences in prime locations and emerging cities, that seamlessly integrate retail, commercial, educational, and lifestyle components, the company enhances residents’ quality of life while contributing to

Lykke Kondo: Bringing happiness in modern condominium living Ly KKE m eaning happiness in the Danish language, fits perfectly the latest condominium project of the company.

Lykke Kondo is located at the Ligaya Intersection in Pasig City. The 1-hectare development includes 3 residential towers atop a podium with 1,736 units in studio, 1-bedroom, and 2-bedroom configurations. It redefines modern condominium living by marrying its 2 innovations, Extra Space at n o E xtra Cost and All-Out Fit-Out for Free (AF3). A standout feature is its AddLoft technology, providing up to 40 percent extra space— offering a 2-bedroom unit at the price of a 1-bedroom unit and saving buyers up to P4 million on premium inclusions. Every unit comes fully fitted with highquality finishes and smart technology, including digital door locks, smart lighting, and well-designed kitchens and bathrooms for a complete and modern living experience. With an estimated P11 billion in revenue for Phase 1, Lykke Kondo delivers first-world living standards.

PH1WD expanding possibilities A L CA n TA RA s aid PH1WD’s dedication to providing First-World living extends beyond its residential projects by bringing its innovations to the low-cost segment to fulfill the housing backlog in the country.

With Megawide’s engineering, Saavedra said the company is committed to addressing the housing backlog in the Philippines, proving that innovation and accessibility can go hand in hand. “We have the capability, facility, the knowhow and technology to implement it,” said Saavedra.

sustainable national development for future generations.

Simplifying the path to homeownership

MOVE demonstrates the dedication of Vista Land to making homeownership more accessible to Filipinos, removing the complexities often associated with purchasing a ready-foroccupancy home. From reservation to turnover, the initiative ensures a straightforward and seamless process, supported by a team of real estate professionals guiding buyers and investors at every stage. With customized payment plans and promotional packages tailored to various financial objectives, MOVE enables more Filipinos residing locally or abroad to invest in their preferred homes. For an easy move-in at only three (3) percent payment and as much as 40 percent cash discount or P1.4 million in peso value (based on P6 million package), it empowers buyers and investors to take assured steps—from a young professional seeking independence from pakikipanirahan, a family in need of more space for their extended household, an Overseas Filipino building in a better tomorrow for their loved ones back home, to achievers seeking the solace of refined living in grand enclaves or homes in metropolitan skies. This Vista Land exclusive runs for a limited period only.Terms and conditions apply.

Ready homes when you are ready to make the move M A KI nG O wnership at Vista Land EAS y i s part of a broader vision to transform thriving communities in the country. Each residence—the integrated master

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to its

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PSA Annual Awards: A night to remember

By Josef Ramos

CARLOS YULO stood tall and mighty with Karl Eldrew feeling proud of his brother Athlete of the Year, Nesthy Petecio spoke her heart out, Aira Villagas was stunning in black and Abraham “Bambol” Tolentino looked every inch a CEO, president and father of Philippine sports rolled into one. It was a night to remember as the stars of 2024 glittered even more, gaining inspiration from dozens of Filipino Olympians and Paralympians who shared the stage, many of them teary eyed as they reminisced in their minds those days when they fought for flag and country in the greatest show on earth—the Olympics.

“ A ng panalo ko ay panalo nating lahat [My victory is everybody’s victory],” said Yulo, the double gold

SBy Aldrin Quinto

ANTA ROSA, Laguna—Dino

Villanueva surged ahead in calm weather as Lloyd Jefferson Go thrived in blustery conditions to share the lead at 69 in the first round of The Country Club (TCC) Invitational on Tuesday.

Villanueva went five under in the front nine to pave enough cushion against a late slip.

Four consecutive birdies from No. 2 moved Villanueva to the top and he picked up another shot on the par-4 seventh hole, submitting a 31 at the turn.

Still seeking his first win on the Philippine Golf Tour (PGT), Villanueva was all smiles as he walked the closing holes even after suffering bogeys on Nos. 13 and 14 that allowed the pack to close in.

“It was a good start but I didn’t really mind the score, I just focused on my game, the strategy is to play one shot at a time,” Villanueva said.

“That’s okay,” Villanueva said of the back-to-back bogeys. “I’ll play with the same approach in the next round.”

Go , on the other hand, was not even halfway through when the gusts started to pick up.

medalist gymnast at the Paris 2024 Olympics hailed as the best athlete of 2024 during the San Miguel Corp.Philippine Sportswriters Association (SMC-PSA) Awards Night at the Centennial Hall of the Manila Hotel on Monday.

O nly 4-foot-11 but a dynamo on the gymnastics arena, Yulo remained thankful over his success in Paris— an accomplishment he achieved with pure dedication and sacrifice and denying himself the lifestyle of an ordinary teenager.

“For trusting and believing in what I can do…,” said Yulo, who didn’t miss out on Chloe San Jose, the love of his life who glittered and smiled all night, remaining unaffected by all the bashing she got in social media.

“My beautiful partner, Choe, thank you very much for taking care of me, my mental health, and coach

Aldrin [Castañeda] and of course, to Mam Cynthia [Carrion, gymnastics association head],” he said. “For molding me every single day, for supporting me and everything I need as an athlete…I love you all.”

“Thank you very much, athletes and national sports association officials,” were Philippine Olympic Committee president Tolentino as he accepted his third Executive of the Year trophy in front of members of the Philippine Olympians Association who were as proud and sentimental during the awards ceremony that also celebrated the country’s 100th year participation in the Olympics.

Munich 1972 Olympian, former senator Freddie Webb, and Akiko Thomson, who swam in the Olympic pool from 1988 Seoul to 1992 Barcelona and 1996 Atlanta, spoke on behalf of the Olympians who, for the first time

We think we faced the strongest winds but I hit it really good, the numbers were ideal for my full swings,” said Go, who was in the final group with Ira Alido and Kakeru Ozeki of Japan.

C lyde Mondilla rued missed chances on the par-5s as he submitted a 70 for solo third spot as Aidric Chan and Gwon Minwook shot 71s to share fourth.

Winner at Palos Verdes on the Philippine Golf Tour last year, Go was very pleased to record his best-ever score at the demanding TCC course and set the pace in the 20th running of the Don Pocholo Razon Memorial Cup.

“I knew the lead was three under but I didn’t mind it because I knew anything can happen on this course,” Go added.

Mondilla also struck it solid and was pleased to hit five birdies against three bogeys but noted he could not cash in even as he got within striking distance on all the par-5s.

“I just could not put myself in the right places,” Mondilla said. “It could be tougher in the next three days.”

T he midday winds, estimated by Mondilla at only six out of a possible 10, proved a little too much for TCC first-rimer Gwon.

The Korean briefly moved to the top of the leaderboard, going four-under after birdie on 14 as Villanueva slid on the same hole, but could not hold on as the winds started to blow.

“It was very calm, and it was not too difficult to play. Then it started to get windy, hitting into the greens became very difficult, even after playing driver,” Gwon said.

Three-time champion Angelo Que had a one-over 73 with a rollercoaster back nine of three birdies and four bogeys, sharing sixth spot with Ryan Monsalve and Nilo Salahog.

Jhonnel Ababa shot 74, as did Jay Bayron, Keanu Jahns, Reymon Jaraula and Saiya Suzuki.

Defending champion Tony Lascuña continued to struggle with a left arm issue, firing a 77 marred by doublebogey on the par-4 No. 9.

L ascuña started having trouble last week when gout, which had not bothered him for years, reappeared just when the Philippine Open at Manila Southwoods started.

“I’m won’t feel so bad shooting five-over on this very difficult course. Even with this condition, I’m okay with my score.” Ozeki had a 76 and Alido shot an 83.

Sale sole soul worth remembering

B8 | Wednesday, January 29, 2025

mirror_sports@yahoo.com.ph

Editor: Jun Lomibao

Rlearn something new,” Gibbons said. “And Carl is making satisfactory progress all along and is expected to finish it with flying colors in March before a great opportunity comes.” Gibbons has lined up Martin for his US debut in March against a still to be determined opponent and if he wins, he could be up against undefeated Goodman (19-0 win-loss record with eight knockouts) in

ever, were recognized for their role in Philippine sports history. And Yulo on his younger brother? So much proud of my brother Karl Eldrew for his achievements,” he said. “He will be the [star of the] next generation that’s why I am very proud of him. I am really praying and hoping he achieves all his goals in life, but whatever happens I’m always proud of him.”

Petecio, a boxing bronze medalist with Villegas in Paris, exemplified what Olympians are made of—that is not to cease dreaming about winning gold.

Hindi hihinto hanggat walang ginto [there’s no stopping until one wins a gold medal,” said Petecio, a silver medalist in Tokyo 2020, who, at 32, stressed on his campaign to win the elusive gold in Los Angeles 2028.

“He has that big potential,” said Gibbons of the 25-year-old Martin, a native of Lagawe. “He hasn’t fought in the US yet but had his international debut in Mexico.” Martin is 24-0 with 20 knockouts highlighted by his second round conquest of Mexicans Anthony Salas last September and a fifth-round domination of Ruben Tostado Garcia last December all in his victims turf.

“It’s like going to college when you have to finish a degree and move up to

PNVF national men’s U21 tourney ushers in busy 2025 volleyball sked

myself,” said Sale, from Reunion Island, France. Yes, indeed, as it put in jeopardy his three-shot lead heading to the last hole—self-destruction staring him squarely in the face.

But after a drop and he stood playing three on the fairway, Sale would hit the most memorable three shots of his career en route to winning Asia’s oldest Open by a shot. One shot. He laid up with his third shot, planted his approach 20 feet off the cup, and swung the stroke that altered the path of his journey forever.

“I won’t three-putt this or I’ll die,” Sale was telling himself as he faced the putt of his life.

The putt stopped tantalizingly to within inches of the par-5 18th hole, and he calmly tapped it in for bogey for a final 5-under-par 65 and a one-shot victory over Thailand’s Sadom Kaewkanjana (67) and Japan’s Tomoyo Ikemura (68).

This changes everything,” said the debutante Sale, whose win will now qualify him as a regular in the Asian Tour. “I can now plan my calendar, unlike before when I wasn’t sure where I would be playing next.”

and Notre Dame of Dadiangas University (NDDU) kick off Group B hostilities at 2 p.m. as well as City of Naga-Cebu Volleyball Club (CNV) and University of East (UE) at 4:30 p.m.

“The Under-21 championship is part and parcel of the national team program that aims to maintain the production line of talents for international competitions,” said PNVF head Ramon “Tats” Suzara, also the president of the Asian Volleyball Confederation (AVC) and executive vice president of the International Volleyball Federation or FIVB.

The preliminaries will continue on Friday while the semifinals are set Saturday and the final on Sunday in the championship supported by Akari, Philippine Sports Commission, Philippine Olympic Committee, Meralco, PLDT, Smart, AyalaLand, Nuvali, Mikasa, Senoh, Asics, Rebisco, Cignal, OneSports, OneSports+ and Pilipinas Live. Also in the domestic radar are the

Miguel Tabuena, the country’s No. 1 golfer, provided some sparks when he rallied from a near-disastrous opening round 74, assembling an 11-under par total in his

ATHLETE of the Year Carlos Yulo with Philippine Olympic Committee president, Executive of the Year Abraham “Bambol” Tolentino (second from left) and from left 1Pacman Partylist Rep. Mikee Romero, Senator Christopher “Bong” Go, Philippine Sports Commission chairman Richard Bachmann and Philippine Sportswriters Association president Nelson Beltran. At left are President’s Award recipients Nesthy Petecio and Aira Villegas. ROY DOMINGO

Editor: Francine Medina

Wednesday, January 29, 2025

SLITHER AUSPICIOUSLY THROUGH THE WOOD SNAKE YEAR WITH THESE TRADITIONS

A celebration that brings the family together, preparations start a week in advance and include cleaning and decorating the home, as well as shopping, especially for gifts and provisions, and food preparation.

The Lunar New Year usually starts sometime between late January and mid-February. In 2025, it falls on January 29. In mainland China, official celebrations last for seven days as a public holiday. The celebrations are a reminder of the longevity and vibrancy of traditional Chinese culture.

Food, gifts, and celebrations

At its core, the Lunar New Year is a celebration that brings the family together. Preparations start a week in advance and include cleaning and decorating the home, as well as shopping, especially for gifts and provisions, and food preparation.

A central event is the family dinner at the New Year’s eve. The choice of dishes varies, reflecting family customs and local culinary traditions. Often it includes dumplings, spring rolls, cakes, fish and pork dishes.

There is also a fair amount of drinking, especially traditional wines or liquor. Many of the dishes are assigned symbolic meanings. For instance, dumplings are given the shape of gold ingots, to invoke good fortune.

Other customs associated with the New Year celebrations include the giving of red envelopes containing money, usually by elders to younger members of the family. The red color, which is also featured prominently in New Year decorations, symbolize prosperity and good fortune.

Traditionally, families and local communities burn firecrackers to mark the new year and ward off monsters. According to legend, the origin of the practice goes back to a story about a monster called Nian, who is believed to have been causing great harm to some villages. In response, the villagers are said to have started off explosions to scare off the monster, and the practice caught on. However, more recently the government has been cracking down on this traditional practice, on the grounds of it being dangerous and polluting.

Continued on C3

YEAR OF THE WOOD SNAKE

Chinese New Year 2025

C2 Wednesday, January 29, 2025

A BusinessMirror Special Feature

YEAR OF THE WOOD SNAKE: ‘A WHIRLWIND OF CHANGE AND OPPORTUNITIES’ Symbolizing

By John Eiron R. Francisco

THE snake has long slithered its way through the stories and beliefs of different cultures, taking on a variety of meanings. While often seen as a symbol of temptation, darkness, and sin in some traditions, its representation is far more diverse and nuanced. In the Chinese Zodiac, for instance, the Snake sheds these connotations and emerges as a symbol of “metamorphosis, wisdom, and intuition”—an emblem of transformation and insight that reflects the deeper layers of its character.

In 2025, with the Chinese Lunar New Year falling on January 29, the celestial dragon begins to make way for the earthly snake, known as the Wood Snake, in the Chinese Zodiac. This system follows a 12-year cycle, associating each year with an animal sign—Rat, Ox, Tiger, Rabbit, Dragon, Snake, Horse, Sheep, Monkey, Rooster, Dog, and Pig. Each year is also connected to one of the five basic elements in Chinese cosmology—Metal, Wood, Water, Fire, or Earth—forming a 60-year cycle.

According to Malaysia’s master of Chinese Metaphysics and renowned feng shui expert Dato’ Joey Yap, the Wood Snake is expected to bring a "whirlwind of change and energy shifts." This year is expected to influence fortunes, shape personalities, and potentially redefine life paths that make it a transformative period for many.

"This year is bringing a wave of transformation, growth and massive opportunities that are going to challenge you to step up and take charge," said Yap, a seasoned consultant with over two decades of experience, in his YouTube video sharing 'predictions' for the Year of the Wood Snake.

boldness, intuition, and creativity, here’s what this year holds

He explained that the Wood Snake symbolizes transformation on all fronts that encourages strategic actions, bold choices, and personal growth that pushes boundaries.

This is not the year to play it safe. It's the year to embrace your potential, step into your power, and take charge of your destiny," Yap emphasized.

While the Chinese New Year, also called the Spring Festival, is widely celebrated in countries like China, Vietnam, Singapore, Malaysia, Indonesia, and the Philippines, a feng shui expert highlighted that it is more than just one of the most colorful and festive events of the year. It is a deeply meaningful time for connection, reflection, and renewal, where families come together, traditions are honored, and hope and joy fill the air.

However, experts urge people to look beyond the surface. While lanterns and firecrackers are key to the celebrations, Yap explained that the occasion marks the start of a new astrological cycle that brings a fresh surge of energy and serves as a cosmic reset for the year ahead. Though astrology, he clarified, isn’t just about predictions; it’s a tool for transformation. He emphasized that in 2025, understanding your astrological chart isn't just beneficial, but it can also be a life-changing advantage.

The Unyielding Seekers

Yap grouped the 12 animal signs of the Chinese zodiac into four major categories: The Unyielding Seekers, The Opportunity Crusaders, The Trailblazing Mavericks, and The Fortune Navigators.

The first group, The Unyielding Seekers, includes the Goat, Ox, and Tiger. Yap described these individuals as determined and unwavering, no matter the challenges they face. He shared a powerful mantra for them: "Don’t give up on a bad day."

According to Yap, difficult moments are often when the seeds of greatness are planted, and resilience and persistence will be the driving forces behind their success. Even if they find themselves stepping into unfamiliar territory or playing the role of the underdog, Yap believes that underdogs have the advantage of surprise, which could be the key to achieving their biggest goals.

For those born under the Goat sign, 2025 will be a year of finding harmony and tapping into creative talents. While recognition will come from both personal and professional circles, Yap acknowledged that self-doubt may arise. However, he emphasized that self-doubt is simply fear in disguise and encouraged people to collaborate to overcome it. The year ahead, guided by the Elegance Seal (a star in the Chinese zodiac believed to boost creativity, artistic skills, and innovation), will bring creative breakthroughs and meaningful connections. Building strong relationships will open doors to opportunities, but Yap advised staying mindful of finances and avoiding impulsive spending.

For the Ox, Yap highlighted the importance of focusing energy on projects that showcase unique abilities. With the prosperity star lighting their way, 2025 will be full of exciting career opportunities and the potential for relationship growth. He advised those born under the Ox sign to balance their natural ambition with emotional balance, turning competition into collaboration through trust and alignment

with others. To maintain momentum, Yap recommended balancing relentless drive with moments of self-care, as it forms the foundation for sustained success.

Meanwhile, this year looks promising for Tigers, with two major positive stars shaping their path: the Prosperity Star and the Heavenly Virtue, as noted by Yap. The Prosperity Star brings abundance, good fortune, and joyful experiences, encouraging Tigers to stay positive and open-minded to attract success.

The Heavenly Virtue, seen as a divine blessing, hints at unexpected career opportunities and breakthroughs, such as significant projects or expanded influence, as long as Tigers remain focused and strategic.

Collaborative efforts and social interactions will also spark creativity and strengthen connections.

However, challenges are present. The Crossing Shard, Curled Tongue, and Robbery Shard warn of potential disputes and tensions in relationships. While these conflicts could lead to growth if handled carefully, Tigers are advised to manage them wisely. Additionally, being passive or resistant to change may result in missed opportunities or financial setbacks. To overcome these hurdles, humility, guidance from trusted mentors, and adaptability will be key to turning obstacles into personal and professional growth.

The Opportunity Crusaders Yap continued with his analysis, focusing on The Opportunity Crusaders, a group that includes the Dragon, Rooster, and Pig signs. He explained that 2025 is a year of transformation for these individuals, but transformation requires action. They must be ready to hit the ground running,

adapt quickly, commit fully, and go all in. Yap emphasized that if they do so, this will not just be a year of change, but a year of breakthroughs that can redefine their futures.

For the Dragon, blessed by the Sky Happiness star, 2025 brings a surge of energy, opportunities, and meaningful connections. Yap advised that this year is not only about achieving milestones in both career and personal recognition, but also about building lasting relationships with influential people who will support their growth. Delegation will be key to expanding their impact, and staying aligned with their passions will help them rise, inspire, and leave a lasting legacy.

The Rooster, influenced by the Golden Lock Star, will see recognition and financial opportunities in 2025, opening doors to greater success. Yap encouraged Roosters to step up their game and add more value in order to take full advantage of these opportunities. However, he cautioned that high expectations might create pressure, urging them to plan carefully, prioritize effectively, and strengthen relationships through trust and open communication to make the most of the year.

For those born under the Pig sign, Yap noted that under the National Treasure Star’s influence, 2025 will bring serendipitous fortune and personal growth. He advised the Pig to stay focused and avoid distractions from others’ opinions. With great power comes great opportunity, and their natural charisma will attract exciting prospects. However, Yap stressed the importance of balancing ambition with moments of joy and rest to make this year truly fulfilling.

Continued on C2-1

YEAR OF THE WOOD SNAKE

Chinese New Year 2025

SLITHER AUSPICIOUSLY THROUGH THE WOOD SNAKE YEAR WITH THESE TRADITIONS

According to the Chinese zodiac signs, each year in the lunar cycle is associated with a particular animal.

This is a 12-year cycle that repeats itself. Thus, there are 12 animals associated with each year in the cycle. These are the rat, ox, tiger, rabbit, dragon, snake, horse, goat, monkey, rooster, dog and pig.

A mong the popular myths about the origins of the Chinese zodiac, there is one about a great race initiated by the Jade Emperor, the ruler of heaven, in order to measure time. As the rat won the race, it came to be listed as first among the 12 animals of the zodiac. The order of the other 11 animals reflected their final position in the race.

Each of the 12 zodiac animals came to represent certain characteristics believed to shape the personalities of individuals born in those years. For the tiger, the positive qualities noted above can also mix with negative traits, such as a propensity to be thoughtless or overly ambitious.

Origins of the lunar calendar

Traditionally, the Chinese have followed their native lunar calendar, which is based on observations and measurements of astronomical phenomena. While modern China adopted the Gregorian calendar in 1912, traditional festivals such as the New Year still follow the old lunar calendar.

The origins of the lunar calendar may go back to the dawn of Chinese civilization, traditionally associated with the legendary Xia dynasty that ruled from 2070 to 1600 B.C. The origins of the actual New Year celebrations are also not entirely clear; some scholars believe they likely go back to the rule of the Shang dynasty from 1600 to 1050 B.C.

Religiosity and New Year’s gala

While the New Year is generally centered around the general theme of family bonding, religious observances are also an integral part of the festivities. These include do -

mestically oriented rituals associated with popular Chinese deities, such as the Kitchen God and the God of Wealth. Family members also make offerings and engage in other rituals related to ancestor worship. Commonly, these include food offerings and the burning of incense at home altars.

During this period, many people go to Buddhist or Taoist temples, as well as other places of worship. They engage in traditional forms of piety, including offering incense and praying for good luck and fortune. Large temples tend to become very busy, with long lines of worshipers often waiting for hours

in order to offer their first incense of the year.

A modern element in ushering the New Year is watching the New Year’s Gala, a popular variety show that features singing, dancing, comedy and drama. It first aired in 1983, and ever since it has been broadcast to a countrywide audience by CCTV, the national TV broadcaster. It is the most watched television program in the world, with an audience that can reach as high as a billion viewers.

Largest human migration

Over the recent decades, China has experienced drastic demographic

changes, especially the migration of large rural populations into big urban centers. China’s one-child policy also brought about major changes in family structure, as most families were restricted to having only one child, which in turn made each child a center of attention and hope for the family. Th is has had far-reaching effects on traditional customs and observances. Among the primary drivers of these developments are the significant changes in family structure and function. Millions of rural children are living with their grandparents or relatives, while their parents work in faraway cities.

Consequently, the Lunar New Year brings about the largest human migration in the world, as millions of students and migrant workers do their best to get back to their homes and families. During this period, trains, buses and planes are packed with travelers, and tickets must be booked well in advance.

Th is year’s celebrations have been impacted by travel restrictions and other strict measures imposed by the Chinese government in its efforts to control the COVID-19 pandemic. China is also hosting the Winter Olympics, which bring further restrictions to the movement of people due to a heightened emphasis on preventing incidents that might reflect negatively on China’s international image.

Celebrations outside of China

The Lunar New Year is also celebrated in other parts of Asia, including Vietnam and Singapore, as well as across the world. Usually, these celebrations have some unique features or assume local character. For instance, in Vietnam, where the festival is known as Tết, there is the preparation of various local dishes, along with the holding of parades and public performances. O ver the centuries, the coming together for the New Year celebration has remained an important part of the cultural heritage for Chinese families, connecting the past to the present, wherever they might happen to be.

Lighting incense sticks serves as an offering to ancestors. It is believed that the smoke will reach the spirits and grant prayers and wishes. PHOTO BY PAPAKAN

VIA GETTY IMAGES.

In Binondo, the world's oldest Chinatown, vendors sell charms for seekers of good luck in the coming Wood Snake Year. PHOTO BY NONILON REYES/BUSINESSMIRROR

Celebrate Chinese New Year in Style at SM Store and enjoy extra savings

THE Chinese New Year, a vibrant festival of traditions and togetherness, is a time of joy and prosperity. And what better way to prepare for the celebrations than with a visit to SM Store. SM Store takes the hassle out of holiday shopping by offering a wide array of essentials, all in one convenient location.

Need vibrant red and gold decorations to bring good luck into your home? SM Store has an incredible selection of lanterns, banners, and charms. Planning an out-of-town trip? Check out the new luggage collection. Searching for thoughtful gifts? Explore their curated collections of accessories, beauty products, home essentials, and even your favorite Chinese snacks like hopia, tikoy, and more—perfect for spreading joy and prosperity this season.

As an added treat, with no minimum spend required, you can enjoy an extra 10% off everything when you shop at SM Store with your SMAC from January 29 to February 2, 2025. This exclusive offer is the perfect opportunity to check off every item on your shopping list while enjoying incredible savings.

Celebrate the Year of the Snake in style with lucky clothes, shoes, snacks, and festive décor to bring in good vibes and fortune. With SM Store’s friendly staff and well-organized layout, your shopping experience will be as seamless as it is enjoyable. Plus, with multiple branches nationwide, SM Store is always close by, ready to meet your Chinese New Year needs. Visit SM Store today and let us help make this celebration your best one yet. After all, great beginnings start with the right preparations, and there’s no better place to start than at SM Store. For more details about this promo, visit smstore.com/cny/2025 APD

Celebrate Chinese New Year at Dusit Thani Lubi Plantation

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Welcomes the Year of the Wood Snake with Warm Greetings

AS we embrace the Year of the Wood Snake 2025, Assure® Adults Protective Diapers extends our warmest wishes for a prosperous, joyful, and meaningful Lunar New Year to you and your loved ones.

The Wood Snake embodies wisdom, adaptability, and transformation—qualities that inspire us to embrace change, grow, and seize new opportunities. Just as the Snake sheds its skin to renew itself, Assure® is committed to continuous improvement, ensuring your loved ones receive the comfort, protection, and peace of mind they truly deserve.

With a Certificate of Medical Device Notification (CMDN), Assure® Adults Protective Diapers meet the highest safety and quality standards. This certification reflects our unwavering dedication to providing trusted care, particularly for those with medical needs. We put the wellbeing and dignity of your loved ones at the heart of everything we do.

Easily available at leading super-markets, stores, and online platforms, Assure® is always within reach— ready to provide the dependable care you can

The Mill

Date: January 30 to 31 and February 2 Lunch: 12 pm to 3 pm Dinner: 6 pm-10 pm

Tarictic Grill

Date: January 30 to February 2 Lunch: 12 pm to 5 pm Dinner: 6 pm to 10 pm

Date: February 1

Dinner: 6 pm to 10 pm Dusit Thani Lubi Plantation Resort invites you to join this vibrant and joyous occasion. With a wide array of exquisite dining experiences and activities, Dusit Thani Lubi Plantation Resort is committed to creating unforgettable memories. For more information, please visit our website at https://www.dusit.com/ dusitthani-lubiplantationresort/ or call +63 (82) 272-7500 or email dtli.rsvn@dusit.com

Lunar New Year Must Haves this 2025 with Cherry

Tcount on, whenever and wherever it’s needed. This Lunar New Year, gift your loved ones the comfort, dignity, and protection they deserve with Assure® Adults Diapers— your reliable partner for a year filled with blessings, vibrant health, and lasting joy. Let’s make this year extraordinary by celebrating growth, well-being, and cherished moments with those who matter most. Kung Hei Fat Choi! The CHERRY Glass Air

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items that will give you the best. With CHERRY, you got it. Here are your Lunar New Year Must-Haves this 2025:

The CHERRY 12-in-1 Multi-Function Blender features eight stainless steel blades and 1.75L capacity that has multiple-modes: soy milk, porridge, creamy soup, baby food, etc. It excels with its premium and heavy-duty build. Because of its digital controls plus 380W stirring and 800W heating power, it’s easy to use! On top of that, it has a self-clean function for a hasslefree washing. Buy yours for only P3,999.

Ring in the Lunar New Year with G-SHOCK’s Limited Edition Ouroboros-Inspired

G-SHOCK, the iconic leader in innovative timekeeping, recently unveiled its latest limited-edition creation: the GST-B400CX-1A OuroborosInspired Timepiece. Designed to honor the auspicious Chinese New Year and the Year of the Snake, this extraordinary watch embodies G-SHOCK’s signature blend of craftsmanship and cultural celebration.

From the G-STEEL series, fusing metal and resin in tribute to the Year of the Snake, the limited-edition model, GST-B400CX captures the essence of ancient symbolism with a modern twist.

The timepiece is based on the slim profile of the GST-B400 and features an Ouroboros motif, an ancient snake symbol representing infinity and immortality, both considered to be auspicious symbols of good fortune. Adorned with a silver metal bezel, sleek black dial, and striking gold accents, the design offers a versatile aesthetic for both formal and casual occasions.

As a tribute to the Year of the Snake, the watch boasts intricate snake patterns on the side buttons and components at the three and nine o’clock positions. The case back is engraved with a special illustration of the Ouroboros, symbolizing limitless potential. True to G-SHOCK’s commitment to innovation, the GST-B400CX-1ADR delivers high-level functionality with Bluetooth® and solar power technology, while significantly reducing power consumption by optimizing energy efficiency. Large stainless-steel buttons ensure user-friendliness, while the model’s resin band, silver case, and contrasting bezel finishes create a refined, textured look

GST-B400CX-1A

The GST-B400CX-1ADR is more than a watch—it’s a timeless celebration of heritage, design, and technology, making it the perfect accessory for ushering in a prosperous Year of the Snake.

The GST-B400CX-1A is priced at P26,620.00 and available for purchase at G-SHOCK stores and online. Sign up for CASIO ID to purchase. On top of that, FUKUBUKURO Bags will be made available for purchase at P9,990

The Trailblazing Mavericks

Yap then shifted focus to the Trailblazing Mavericks, a group comprising the Rabbit, Snake, and Dog signs. According to Yap, 2025 will be one of the most exciting years for those in this group, fueled by fresh inspiration and newfound selfconfidence. He noted that individuals with these signs will be driven to achieve what they once thought impossible. However, he emphasized the importance of having the courage to say no to distractions and lesser goals, urging them to trust themselves. Yap highlighted that years of building skills and preparing for this moment will pay off, and consistency will be the key to crossing the finish line stronger, wiser, and more unstoppable than ever before.

For the Rabbit, propelled forward by the 8 Seats, 2025 brings momentum and muchdeserved recognition. Yap encouraged Rabbits to embrace leadership roles and strengthen collaboration with others. He advised staying mindful of how they respond to challenges to avoid unnecessary conflicts and to align their actions with long-term goals. Additionally, carving out time for rest and renewal will be essential to maintaining balance and thriving. With the Grand Dukes' influence, 2025 will be a year of wisdom, intuition, and transformative growth for the Snake. Yap noted that their natural insights will guide them toward success, urging them to prioritize meaningful relationships and cultivate inner balance. By embracing the transformation ahead, Snakes will be able to elevate every aspect of their lives.

For the Dog, guided by the Imperial Advisor, Yap highlighted that 2025 will be a year of steady progress and powerful mentorship.

here's what this year holds for

He encouraged Dogs to seek support, whether through advice from a mentor or by hiring the right help, as these connections will accelerate their success. Yap also advised them to stay open to change and focus on building relationships that amplify their goals, as the right allies can transform the year into a stepping stone toward something extraordinary.

The Fortune Navigators

Yap also discussed the group he calls the Fortune Navigators, which includes individuals born under the Monkey, Rat, and Horse signs. According to Yap, 2025 will bring a wealth of

opportunities, fresh beginnings, and valuable connections for this group.

However, he stressed that the secret to making this year truly remarkable lies not in individual wins but in the ability to connect those wins together. By stringing successes into a continuous chain, individuals will create an unstoppable momentum that can propel them to new heights, not only for the year ahead but for years to come.

With the Nobleman's Star lighting their path, Yap predicted that those in this group would experience significant growth and career elevation.

He emphasized that the key to unlocking

major breakthroughs lies in being open to new perspectives and constructive feedback. Embracing collaboration and letting go of egos will clear the way for greater success.

Yap further pointed out that valuing fresh ideas and building stronger relationships would position individuals for a truly transformative year.

Under the influence of the Emperor Star, Yap noted that 2025 would be a year of financial growth and career advancement for those in the Fortune Navigators group. He explained that many opportunities would arise for these individuals to step up, showcase their leadership

abilities, and shine in their talents. However, he cautioned against overcommitting, as it could drain energy and derail focus. Prioritizing what truly matters and maintaining balance would be key to achieving sustained success. Yap also highlighted that natural charm would be an invaluable asset in maintaining harmony and strengthening relationships.

For those born under the Horse sign, Yap predicted that 2025, guided by the vibrant energy of the Sun, would bring incredible opportunities for travel and significant career breakthroughs. He described how the Horse's generosity would brighten the lives of those around them, with this positive energy reflecting back in abundance, enhancing every area of their life. He emphasized that with open communication, relationships would flourish and focus would turn opportunities into lasting, impactful achievements.

For the Rat, this year is marked by the powerful Emperor Star, along with the Dragon Virtue and Jade Hall. These stars symbolize leadership, problem-solving, and growth in wealth and influence. Yap said to make the most of this energy, Rats are encouraged to take decisive action and lead with fairness and wisdom. Charisma and influence are also heightened, allowing them to inspire loyalty and admiration, but hesitation or lack of action could lead to missed opportunities. Strong, purposeful leadership is key to success this year.

For the Monkey, four auspicious stars, including the Grand View, Heavenly Yi Nobleman, and the Moon, bring visionary ideas and financial breakthroughs. Monkeys are urged to embrace creativity, pursue growth, and take calculated risks, as these stars foster resilience and the ability to turn challenges into

opportunities. However, negative energies like the Death God and Piercing Rope warn against forgetfulness, overcommitment, and stress. Monkeys should focus on practical plans, prioritize meaningful projects, and work with people who can help turn ideas into reality.

Fun Zodiac Facts

Meanwhile, Professor Jing Han, Director of Western Sydney University’s Institute for Australian and Chinese Arts and Culture, shares some intriguing insights about the Year of the Snake and is said to be most compatible with the Rooster, Ox, and Monkey, while it may clash with the Pig and Tiger. Those born under the Year of the Snake

YEAR OF THE WOOD SNAKE

Chinese New Year 2025

C2-2 Wednesday, January 29, 2025

A BusinessMirror Special Feature

In Cebu, NUSTAR Resort serves grand feast for the senses

The award-winning property elevates its heritage cuisine while giving guests a taste of innovative dishes as well.

TASTE Cebu 2025 recently concluded a celebration of Cebu’s rich heritage and vibrant future in one unforgettable evening.

A signature event by NUSTAR Resort Cebu, this year’s event was set in January in time for the Sinulog festivities, and was a unique collaboration between local artisan chefs, top culinary students from various schools and NUSTAR chefs in a stellar production blending tradition with innovation in Cebuano cuisine.

Journey Through Cebu's Traditional Flavors

Over a thousand guests were treated to a feast set amid a backdrop depicting Cebu’s culinary history. The Grand Ballroom opened to a section evoking nostalgic Filipino design, with the ceiling swathed in Fili’s trademark solihiya pattern over a setting where guests revisited classic Cebuano dishes. All crafted with local ingredients, local artisan chefs presented heirloom dishes as Tuslob Buwa Tinubaang Manok Pochero, Empanada, PungkoPungko, and desserts such as Bingka sa Mandaue and Budbud Kabog

This year’s event featured a live puso weaving installation and a Tuba Wall, offering hands-on experiences. Guests learned to weave a traditional Cebuano rice pouch and explored creative cocktail variations made from tuba, a beloved local drink.

Culinary heritage with dashes of modernity

In partnership with various schools and institutions, top students from prominent culinary schools in Cebu showcased modern interpretations of classic Cebuano dishes. Students from the University of San Jose—Recoletos presented Foam of Tinunuang Nangka with the Essence of Tinap-ang Isda and Fish Chicharon Nachos with Takyong Sisig, highlighting the unique Cebu snail. University of Cebu students offered Bam-I Vietnamese Spring Roll and Balbacua Xiao Long Bao. The University of Southern Philippines Foundation impressed with Shredded Lechon Paksiw and Ginabot Breaded Jalapeño Poppers. Students from the University of San Carlos introduced Nipa Delight and Kalabasang Torone, while the American International Culinary and Hospitality Institute showcased Masi with MangoStrawberry Peanut Filling and Mango and Tablea Pie.

Innovating the classics

The "Old Meets NU Cebu" tasting zone was led by NUSTAR’s Executive Chef Martin Rebolledo, alongside his team of talented chefs including Chef Rolando Macatangay, Chef Randell Mark Jugalbot, Chef Lloyd Rommel Cabalhin, Chef Angelo Belloso, Chef Genaro Moleño, Chef Alvin Antonio, and Chef Sherwin Ca-

vada. Together, they presented a progressive take on well-loved Cebuano fare using modern culinary techniques for dishes like Beef and Reef Bulalo, Danggit Biscuit, and Dinuguan Tortas. A highlight of the evening was the “Lechon Five Ways” presentation, a Fili Café staple, featuring innovative renditions on Cebu’s famous lechon, including Lechon Quesadilla and Lechon with Hoisin and Leeks.

“At NUSTAR, we’re committed to curating a dining experience that celebrates Cebu’s heart and soul. By collaborating with both seasoned artisan chefs and promising culinary students, we’ve crafted the Taste Cebu menu to fuse tradition with innovation, creating exclusive dishes you can only experience here,” said Chef Martin Rebolledo.

Taste Cebu 2025 marked the start of an exciting culinary journey at NUSTAR, celebrating the rich flavors of Cebu and showcasing the talents of chefs who continue to shape its culinary future. In the coming months, special food offerings and promotions will be introduced including Lunar New Year menus from Mott 32, Huangdi, and Xin Tian Di. NUSTAR continues to position Cebu as a key food tourism destination with fresh and unique dining experiences. Visit nustar.ph for more information.

CULTURE AND CUISINE. The arts and food presentations reveal the rich and diverse heritage of Cebu.. PHOTOS

YEAR OF THE WOOD SNAKE

Chinese New Year 2025

Lucky foods to welcome the Year of the Wood Snake

By Vincent Peter Rivera

THE merriest holiday in China and Chinese communities across the globe really began as an act to appease a creature that was sowing fear once upon a time in a village. According to the online site of Wake Forest University, a mythical beast, Nian (Year) hunted people and livestock. With the use of color red decorations and fire crackers, and people preparing feasts in their homes as a way of offering to ancestors and gods, the villagers were able to drive the beast away. Since then, gathering as a family and feasting became the important foundations of Chinese New Year celebrations.

“There’s great significance placed on the New Year’s Eve dinner (年夜饭 / Nián yèfàn) or reunion dinner (团年饭 / tuán niánfàn),” said Fefe Ho of chinesenewyear.net.

“This feast is extremely important to the Chinese. All family members must come back. If they can’t return, the rest of the family will leave their spot empty and place a spare set of utensils for them.”

A s the year of the Wood Snake officially begins, these are the lucky foods that are believed to bring blessings and fortune for the entire year.

Fish

In Chinese culture, fish is one of the must-have foods on the table during the New Year’s Eve. According to Joey Goh of Marine Stewardship Council, “Fish (pronounced as ‘yu’ in Chinese) signifies abundance, and is a sign of prosperity.” It also has the same pronunciation with the Chinese word, ‘surplus’ or ‘extra.’

“Only the middle part of the fish should be eaten with the rest eaten the next day, symbolising hope for the year to start and end with surplus,” explained the Hong Kong Tourism Board (HKTA) in its website.

Dumplings

Dumplings are a traditional Chinese food that is widely known for its delicious taste. But aside from its popularity, it also holds an important meaning among Chinese people during the New Year’s feast. According to China Highlights, dumplings signify wealth and is a good indicator of how much money you will attract for the whole year. It is believed that a person’s wealth corresponds to his consumption of dumplings.

S hi Xinzhong, Beijing dumpling chef and restaurateur, shared with SBS News that eating dumplings during Lunar New Year is

good for family unity, prosperity, and can bring good luck. “China also has a lot of traditions about dumplings, like to put a coin in one of the dumplings and whoever eats it will have a whole year of joy and happiness,” Xinzhong added.

Spring rolls

To further strengthen the flow of wealth this year, spring rolls are a known symbolism of wealth and prosperity in Chinese culture. According to China Highlights, this food is traditionally eaten during the Spring Festival to celebrate the arrival of Spring. There is also a saying among Chinese people upon eating spring rolls. “ 黄金万两 ( hwung-jin wan-lyang/ ): ‘A ton of gold’ (because fried spring rolls look like gold bars)—a wish for prosperity” China Highlights, an arts and culture website, mentioned.

Niángāo(Glutinous Rice Cake)

According to feng shui consultant Susan Chan, “This Snake Year will be all about transformation, strategy, and growth.” As 2025 revolves around this concept, considering the food, Niángāo (Chinese New Year Cake) might help you navigate the year better. Master Lin Tian Xiang, a renowned

Feng Shui master, explained, “[Niángāo] Suggests growth or progress, symbolizing a higher income or position.”

Tāngyuán(Sweet Rice Balls)

Tāngyuán is one of the Chinese foods that could not be forgotten during a feast in celebrating

the Lunar New Year. As China Highlights described it, “The pronunciation and round shape of Tāngyuán are associated with reunion and being together.” Celebrating the Lunar New Year is best paired with this food since it symbolizes and echoes the center of the holiday: family.

ChángShòuMiàn

(Longevity Noodles)

During the Spring Festival, Chinese people eat a specific type of noodles called Cháng Shòu Miàn which means “longevity noodles.” To properly eat this food during the Lunar New Year, “You aren’t allowed to cut them and should try not to chew either. The longer the noodle, the longer your life will be.” said Ho. It symbolizes happiness and longevity of life in Chinese culture.

Tangerine

In order to attract positive things and success this 2025, Tangerines are a good symbolism of good things in Chinese culture. According to HKTA, “The Chinese pronunciation for tangerines sounds like ‘success’ or ‘luck’.” Regardless of using it as a gift, food, or as a display, Tangerines are lucky in attracting the energy of success.

Vegetables

Vegetables definitely have a place in Chinese New Year reunion dinners. “Vegetables signify ‘spring’, ‘renewal’, ‘energy’, ‘progress’, and ‘wealth’,” China Highlights added. Aside from its healthy effects on the human body, it also attracts positive energies and luck among people this year of the wood snake.

LUCKY BITES. Complete your Year of the Wood Snake table with vegetables and sticky rice cakes. PHOTOS BY BERNARD TESTA/BUSINESS MIRROR.

AMID A HARVEST OF AWARDS, YOUR SUPPORT COUNTS MOST

THE pandemic tested the media industry, forcing newsrooms around the world to overhaul the way they do their job while following strict health protocols in order to survive a deadly infection.

The BusinessMirror, the country’s premier national business daily, was tested like everyone else, and survived, even continuing to live up to its promise to provide a broader look at today’s business.

In November 2021, the business broadsheet was recognized as the “Business News Source of the Year” for 2020 by the Economic Journalists Association of the Philippines (Ejap), the country’s premier organization of business reporters, editors and wire agencies. It was a 4-peat for BM, having gotten the same honors for the years 2017, 2018 and 2019.

And, as in the past Ejap awards, it also swept half of the individual categories, with its seasoned reporters adjudged as best in their respective coverages.

Earlier in 2021, the BusinessMirror was given the Pro Patria Award by the Rotary Club of Manila, for “its commitment of valuable resources for the protection of free expression and its resilience in disseminating fair and truthful information resulting in an informed and enlightened citizenry.”

It was just the latest recognition from the prestigious Rotary Club, which named it “Business Newspaper of the Year” for 2018-2019, and again in 2020. In all, it has received six top

Rotary journalism awards in its short 16-year existence.

The BusinessMirror has also consistently reaped top awards in the Brightleaf Journalism Awards for Agriculture and the Philippine Agricultural Journalists-San Miguel Corp. (PAJ-SMC) Binhi Awards, also for the best in agriculture journalism.

The BusinessMirror was also repeatedly adjudged the leading daily in biotechnology journalism, a recognition bestowed by the Jose G. Burgos Jr. Biotechnology Journalism Awards.

T he “broader look” mantra also drew recognition from the Philippine Statistics Authority (PSA) which named the BusinessMirror, at its first awards rites in 2018, as the inaugural “Data Champion.”

In the first “Bantog Science for the People” awards for media from the Department of Science and Technology, the BusinessMirror got the top award for the Institution category for Print; and the grand prize in the individual category for science journalist Stephanie Tumampos.

In 2018, Environment Reporter

Jonathan Mayuga received the Luntiang Aligato award from the Climate Reality Project, a nonprofit organization founded by Nobel Laureate and former US Vice President Al Gore.

T he Broader Look at biodiversity was also recognized. It was named among the Asean Champions of

Biodiversity, for the Media Category, by the Asean Centre for Biodiversity. T he Broader Look also extended to the paper’s corporate social responsibility. It organized and staged the first-ever recognition rites for the best of the Philippines’s friends in the world, with the “MISSION PHILIPPINES: The BusinessMirror Envoys & Expats Awards.” The initiative won a Gold Anvil in 2019. Distinguished institutions in government have also repeatedly recognized the BusinessMirror’s role in spreading the word about the work they do—information that shines a light on good governance and committed public service to uplift people’s hopes. Most notably, these are the Social Security System and Pag-IBIG Fund. Sixteen years, two of them in a pandemic, have tested the promise of a Broader Look. But they are also a measure of the unstinting support of friends—advertisers and news sources alike—and readers who continue to believe in that promise.

THANK YOU, EVERYONE. YOUR LOVE AND SUPPORT IS OUR MOST IMPORTANT TROPHY.