BusinessMirror March 05, 2025

THEBy Reine Juvierre S. Alberto @reine_alberto

on more debt in January as well as the peso weakening against the US dollar, moving from P57.847 at the end of 2024 to P58.375 at the end of January 2025, according to the Treasury. Year-on-year, outstanding debt expanded by 10.29 percent from P14.790 trillion as of end-January 2024. Broken down, the total debt stock comprised domestic debt at 67.9 percent, while external obligations comprised the remaining 32.1 percent. Domestic debt amounted to P11.084 trillion as of end-January 2025, 1.41 percent higher than the P10.930 trillion recorded in end-December 2024. This was due to the government’s issuance of P270.01 billion in new securities and paying off P117.84 billion for its debts. The peso depreciation against the US dollar added P1.51 billion to the domestic debt stock. Local borrowings also rose by 9.07 percent year-on-year from P10.162 trillion. Domestic debt

By Bless Aubrey Ogerio @blessogerio

FACTORY gate prices in the country rose at a faster pace in January this year, reflecting an uptick in manufacturing costs, according to the Philippine Statistics Authority (PSA).

Data from the PSA showed that the Producer Price Index (PPI) for manufacturing grew 0.8 percent year-on-year, picking up from the 0.1-percent increase recorded in December 2024. In contrast, the index posted a 1.1-percent annual decline in January 2024.

“The faster annual increase of PPI for the manufacturing sec -

tion in January 2025 was primarily due to the acceleration in the annual rate of the PPI for manufacture of chemical and chemical products industry division,” the PSA stated.

The said industry’s PPI increased by 2.4 percent in January 2025, up from the 1.4-percent annual increase recorded in December 2024. Additionally, it accounted for 30.3 percent of the acceleration in the yearly PPI growth for manufacturing in January this year.

Among the 22 industry divisions for manufacturing, the PSA noted that “the manufacture of chemical and chemical products has the sixth highest weight in

the computation of PPI.”

Other key contributors to the PPI’s annual increase included coke and refined petroleum products, which rose to 1.4 percent from 1.0 percent in December, as well as rubber and plastic products, which rebounded to 0.7 percent from a 0.3-percent decline.

“Of the remaining 19 industry divisions, 13 exhibited annual increases, while six industry divisions registered annual decreases during the period,” the agency said.

Month-on-month, the PPI for manufacturing fell by 0.6 percent in January this year, marking a steeper drop compared to the 0.4- percent decrease in

December last year. In January 2024, the index posted a 1.2-percent monthly contraction.

“The top contributor to the faster decline in the monthly rate of PPI in January 2025 was the manufacture of food products,” the PSA said. Prices, it reported, fell by 1.3 percent in January this year after inching up by 0.1 percent last December. Other industries contributing to the decline were computer, electronic and optical products, which saw a 1-percent drop from 0.7 percent in the previous month; and machinery and equipment (excluding electrical), which declined by 0.8 percent from 0.1 percent.

showed contributions to Pera increased by 23.9 percent to P491.387 million as of end-December 2024, from P396.309 million during the same period in 2023. Similarly, total contributors rose by 6.42 percent year-onyear to 5,912 from 5,555.

The bulk, or 71.22 percent, of the total contributors were employees who contributed P341.747 million.

Self-employed individuals, 15.42 percent of the total contributors, allotted P67.391 million voluntarily. Meanwhile, overseas Filipino

workers (13.34 percent) apportioned P82.248 million. Pera is a voluntary retirement savings program launched in 2016 to supplement the existing retirement benefits from the Government Service Insurance System, the Social Security System and private employers.

Among the advantages of Pera is a 5-percent income tax credit on the actual Pera contribution which can be used to pay income tax liabilities as well as the exemption from taxes on all income earned from the investments and reinvestments.

The maximum aggregate annual contribution is P100,000 except for overseas Filipinos who can contribute up to P200,000 annually. For married individuals, each spouse can contribute up to P100,000.

By Ma. Stella F. Arnaldo Special to the BusinessMirror

HOTELS, not vacation rentals, remain the top choice for international travelers, with direct bookings increasing.

According to the World Travel Monitor (WTM) prepared by think tank IPK International for ITB Berlin, “Most travelers still opt for traditional hotels, which are particularly appreciated for their service and wide range of offers. However, alternative, commercially marketed types of accommodation, including holiday apartments or private holiday rentals, are also becoming increasingly popular. At the same time, the number of people opting

to stay free of charge with friends or relatives remains stable.”

This bodes well for the Philippines which will be seeing the opening of 158 new hotels and resorts with over 40,000 keys in the next few years, attracting some P250 billion in private investments. Of the total keys in the pipeline, 54 percent are owned and are being constructed by the following developers: DoubleDragon Corp. (4,324 keys); Megaworld Hotels and Resorts (3,889); Hann Philippines (2,850); The Henann Group (2,800); Anchor Land Holdings (2,270); SM Hotels and Conventions Corp. (1,723); AppleOne Properties Inc. (1,063); Robinsons Hotels and Resorts (1,016); Cebu

Landmasters Inc. (899); and Ayala Land Hotels and Resorts Corp. (889). (See, “10 developers make huge hotel investments in PHL” in the BusinessMirror, Oct. 9, 2024.)

The WTM also found that while many travelers continue to book via travel agencies, an increasing number now book directly with suppliers and providers. “The majority of travelers [over 90 percent] book their stay in advance. While travel agency bookings remain stable, direct bookings via accommodation and transport providers are increasing. This trend reflects a desire for greater flexibility and more direct control over personal travel options.”

The world’s largest travel trade

fair, the ITB Berlin, will be held on March 4 to 6 at the Messe Berlin with the theme “The Power of Transition lives here.” Over 5,500 exhibitors from 170 countries and regions are expected to present their products and services to an estimated 100,000 participants. The Philippines has participated in this annual trade fair, which is expected to further open the country to more European visitors. The Tourism Promotions Board leads the Philippine delegation which is composed of representatives from 29 private tourism stakeholders and one government agency. The TPB is the marketing arm of the Department of Tourism (DOT).

BREEZY BREAK FROM THE URBAN HEAT With Metro Manila experiencing a high heat index of 43°C, March 4, 2025, as reported by PAGASA, a seaside retreat like Nasugbu, Batangas, offers an ideal escape from the sweltering temperatures. Known for its white sand beaches and stunning coves, this coastal destination invites you to soak in the sea breeze and unwind under the shade. MILA LUMACTAO

“These three industry divisions contributed 89.2 percent to the faster decline in the month-on-month growth rate of PPI for manufacturing in January 2025,” PSA said.

“Of the remaining 19 industry divisions, seven registered monthly decreases, 10 exhibited month-onmonth increases, and two recorded zero-percent month-on-month rates during the period,” PSA added.

The PPI tracks price movements of domestically manufactured goods sold at factory gate prices and is used as a key indicator of inflation in the sector. It also serves as a deflator for economic measures such as the Value of Production Index (VaPI) and the Value of Net Sales Index (VaNSI), which help estimate manufacturing output and sales.

EU packaging rule to hike costs of PHL exporters

By Andrea E. San Juan

IT will be more costly for Philip-

pine exporters to ship goods to the European Union (EU) once the 27-member bloc’s measure on reducing packaging waste is in full force, according to the Philippine Exporters Confederation, Inc. (Philexport).

“This will impact on the cost, the way they source their packaging materials, technology needs and how they manage their factory wastes,” Ma. Flordeliza C. Leong, Philexport Vice President for Advocacy, Communications and Special Concerns Division, told the BusinessMirror in a Viber message on Tuesday.

The advisory made it clear, however, that the PPWR measure will only be applicable from August 12,2026, allowing exporters an 18-month transition period to adhere to the new regulations.

DTI said the primary goal of the regulation is to prevent and reduce packaging waste by promoting more reuse and refill systems.

“It seeks to make all packaging on the EU market recyclable in an economically viable way by 2030,” the DTI advisory read.

Investment products available for Pera are a unit of Unit Investment Trust Fund (UITF), shares of stock of mutual funds, annuity contracts, insurance pension products, shares of stock or other securities listed and traded in a local exchange, government securities, among others. The choice of investment is up to the contributor. However, they may hire an Investment Manager if they are unsure of which investment products to invest in.

The Department of Trade and Industry (DTI) published on its website an advisory that the EU has announced that the new Packaging and Packaging Waste Regulation (PPWR) entered into force on February 11,2025.

“Your Honor, if it pleases the court, Section 58, the sovereign guarantee, even without this maneuver of the

The measure also aims to “safely increase the use of recycled plastics in packaging, phase out hazardous and harmful substances such as per- and polyfluoroalkyl substances (PFAS), promote re-use, and decrease the use of virgin materials, ultimately putting the sector on track to achieve climate neutrality by 2050.”

As such, the DTI urged Philippine exporters to take note of key dates in

P89.9 [billion], government can and always will increase the benefits. But the signal, Your Honor, if it pleases the court, that this litigation gave, is a strong signal for it to do so,” said Domingo.

The DOH official emphasized that

complying with the new regulation.

Come January 1,2030, the advisory warned: “All packaging sold in the EU must be recyclable, with minimum recycled content requirements for plastics.”

“Packaging may only be placed on the market if it is recyclable according to grades A [higher or equal to 95 percent recyclability] or C [higher or equal to 70 percent recyclability]. Recyclability of lower than 70 percent, the packaging will be considered technically non-recyclable, and its placing on the market will be restricted,” the DTI advisory noted.

The DTI said Philippine exporters to EU are “strongly advised” to ensure that their packaging materials are recyclable, reusable, and have the necessary proportion of recycled content in order to comply with the new EU PPWR.

“Packaging weight and volume should be kept to a minimum, labels

the move compels PhilHealth to utilize its funds efficiently rather than allowing them to remain idle.

“This is the start, Your Honor. If the case is allowed to proceed, if the transfer is allowed to proceed, it is a use-it-or-lose-it signal, which all national government agencies have, so that we will use our funds. GOCCs like PhilHealth do not have that signal,” the DOH official added.

Domingo pointed out that, prior to the current leadership of PhilHealth, there had been a perception within the agency that earmarked funds would always be available, regardless of how efficiently they were utilized.

“And they think, at least before the current CEO or the current administration, they think that just because there is an earmark, whether hard or soft, that they will get the money and there is no stimulus for them to actually increase the benefits,” he said.

“That’s why it should be increased. And mathematically, the only way to do this is to increase the benefit packages, which we are doing now,” he added.

Domingo noted that despite the transfer of its unutilized funds,

should be updated to reflect material composition and recycling guidelines, and hazardous materials such as PFAS, lead, cadmium, mercury, and hexavalent chromium should be checked to make sure they are within the allowed limits,” the DTI emphasized.

It also underscored the need for Philippine exporters to coordinate with EU importers in terms of exploring sustainable packaging options and comprehending compliance expectations.

“Maintaining records to demonstrate compliance is recommended,” the DTI said.

In 2023, the EU was the Philippines’s 5th largest trading partner, 6th export market and 6th import source.

Philippine exports to EU amounted to $8.37 billion while imports from the 27-member bloc reached $7.79 billion.

In 2023, the top Philippine exports to the EU were: electronics, semiconductors, coconut oil and tuna.

PhilHealth has expanded its benefit offerings over the past year.

The oral arguments stemmed from the three consolidated petitions filed by Senator Aquilino Pimentel III et al, Bayan Muna Chairman Neri Colmenares et al and the 1Sambayanan Coalition questioning the constitutionality of Department of Finance (Do) Circular No. 003-204 and Section 1 (d) of XLIII of the 2024 GAA.

The DOF Circular directs the transfer of unused subsidies from GOCCs, specifically PhilHealth, amounting to P89.9 billion, to the national treasury to bolster the government’s unprogrammed appropriations.

It was issued in line with Section 1(d) of XLIII of the GAA 2024, which the petitioners said was an “inserted” provision on unprogrammed appropriations.

Under Special Provision No. 1 (d), the Unprogrammed Appropriations shall be sourced from “any remainder resulting from the review and reduction of the GOCC’s reserve funds to reasonable levels, taking into account the disbursements from prior years.”

The oral arguments will continue on April 29, 2025.

service,” acknowledging their essential role in the company’s ongoing success.

The ALC Group has started 2025 on a strong note with several major milestones. Its media companies are undergoing innovation and expansion, enhancing the programming of Aliw Channel 23, DWIZ 882 AM, and 97.9 Home Radio to deliver more engaging content to audiences. In print media, the Philippines Graphic recently acquired a state-of-the-art printing machine, reinforcing its commitment to high-quality journalism. Meanwhile, the memorial and cremation services sector continues to grow, with Eternal Gardens Memorial Park breaking ground for its 13th memorial park in Naga City, and Eternal Crematory inaugurating the three-story San Lorenzo Columbarium in Quezon City. In the automotive industry, Isuzu Gencars continues to renovate its branches, aligning them with the Isuzu Outlet Standard to provide modernized facilities and an enhanced customer experience. This recognition comes as the ALC Group gears up for even greater expansion and growth in 2025, with more projects, business developments, and innovations on the horizon.

Cabangon humbly dedicated the award to the entire ALC Group workforce, saying, “This award is not mine alone—it belongs to all of us at the ALC Group. It is the result of your dedication, hard work, and commitment to our mission. Without your support, none of this would be possible. I truly believe that Dad continues to guide us, and with the grace of our Lord, we will keep moving forward, growing, and serving together.”

End-Jan PHL debt hits record-high

Reine Juvierre S. Alberto mainly consists of governmentissued securities amounting to P11.083 trillion as of end-January 2025. Meanwhile, external debt increased by 2.10 percent to P5.228 trillion as of end-January 2025 from last month’s P5.120 trillion. The increase was traced to the government’s borrowing P59.30 billion in new foreign loans, and peso depreciation. The peso weakening against the dollar added P46.74 billion to external obligations while the impact of other foreign currencies contributed P1.75 billion more. External debt climbed by 12.98 percent year-on-year from P4.628 trillion.

(See, “Report: Foreign visitors seek authentic travel experiences,” in the BusinessMirror, March 3, 2025.)

Meanwhile, some 1.15 million foreign tourists visited the Philippines from January 1 to February 28, 2025, data from the DOT showed. This was 22.8 percent less than the same period in 2019. Of the arrivals in the first two months of the year, 83,446 were overseas Filipinos (OFs)—defined as Philippine passport holders permanently residing abroad, and accounted for 7.23 percent of total inbound travelers.

As the DOT has changed its arrivals statistics report and integrated overseas Filipinos into the country of residence data, BusinessMirror is using DOT’s data based on the visitor’s nationality, who may have arrived from a different host country.

Arrivals topped by S. Koreans OF the total foreign tourists, South Koreans topped the list of visitors at 290,778, and accounted for 25.19 percent of total visitors for the period. This was followed by Americans at 214,322 (18.56 percent of total); Japanese at 74,059 (6.42 percent); Canadians at 57,232 (4.96 percent); and Australians at 54,263 (4.7 percent).

The other top nationalities that visited the Philippines included: mainland Chinese at 52,318 (4.53 percent of total); the Taiwanese at 38,082 (3.3 percent); British at 33,363 (2.89 percent); French at 22,288 (1.93 percent); Germans 19,820 (1.72 percent); and Indians at 18,494 (1.6 percent). With Europeans bringing up the rear, this underscores the importance of the DOT-TPB in spending more to promote the Philippines in said region.

Under its National Tourism Development Plan 2023-2028, the DOT aims to attract 8.4 million international tourists this year, although tourism stakeholders and private analyst have cast doubt on the agency’s ability to reach this after it missed its 7.7-million arrivals target in 2024.

Government securities, such as global bonds, worth P2.704 trillion, took up the bulk of external debt while P2.523 trillion accounted for loans.

The government capped the year 2024 with P16.051 trillion in outstanding debt. This is higher by 9.8 percent than the P14.616-trillion debt in 2023.

Debt-to-GDP (gross domestic product), or debt measured against economic growth, is currently at 60.7 percent. This is slightly above the government’s target of 60.6 percent after economic growth slowed to 5.6 percent in the fourth quarter. This is projected to be in line with the internationally accepted threshold of 60 percent in 2025 at 58.3 percent based on the government’s Medium-Term Fiscal Framework (MTFF). The government’s outstanding debt is expected to reach P16.1 trillion at the end of 2024 and will further balloon to P20.7 trillion by the end of Marcos Jr.’s administration.

Air Force jet fighter goes missing

By Rex Anthony Naval

SOUTH Korea-made FA-

A50PH jet fighter of the Air Force (PAF) went missing while on tactical night operations just after midnight on Tuesday.

The Air Force reported that the plane, whose tail number was witheld, lost radio contact with its flightmate and measures to restore contact proved futile until its flightmate has returned to the Benito Ebuen Air Base in Cebu.

“Shortly after midnight on March 4, 2025, an FA-50 fighter jet went missing during a tactical night operation. The aircraft lost communication with the rest of the flight involved in the mission minutes before reaching the target area. The other aircraft repeatedly attempted to re-establish contact with the missing aircraft until their return to Mactan, Cebu,” the PAF spokesperson, Col. Ma. Consuelo Castillo, said.

She added that the Air Force is now conducting extensive and thorough search operations, utilizing all available resources, to locate the missing jet fighter.

“Our primary concern is the safe return of the aircrew. We hope to locate them and the aircraft soon, and ask you to join us in prayer during this critical time,”

Castillo said.

She added that further details will be provided once they are available.

The FA-50PH has a crew of two pilots.

The Department of National Defense acquired 12 units from the Korea Aerospace Industries of South Korea for P18.9 billion. These were delivered from 2015 to 2017.

When he assumed office, then President Rodrigo Duterte derided the acquisition of the fighters, saying these were only good for fly-bys during parades.

However, the jets proved their worth when used to attack ground targets when the Maute bandit group seized Marawi City less than a year into the Duterte presidency. Castillo said this is the first major incident involving the FA50PH fighter aircraft.

She added that the pilots are equipped with personal locator beacons which emit signals and could aid rescue units in their recovery or rescue.

The FA-50PHs has a top speed of Mach 1.5 or one and a half times the speed of sound and is capable of being fitted with air-toair missiles, including the AIM-9 “Sidewinder” air-to-air and heatseeking missiles aside from light automatic cannons. Rex Anthony Naval

FMJr appoints new PSC chief

MALACAÑANG announced on Tuesday the appointment of Brig. Gen. Peter B. Burgonio as the new commander of the Presidential Security Command (PSC). In a Viber message to Palace reporters, Palace Press Office Claire Castro confirmed Burgonio will replace Maj. Gen. Jesus Nelson B. Morales as PSC commander. Morales’ tour of duty as

PDC commander ended on March 4. Burgonio was named as the commander of the Army’s (PA) Intelligence Regiment in 2023. Prior to the said appointment he served as deputy commander of the same regiment since 2017. He also served as commander of the 14th Infantry Battalion and assistant

See “PSC,” A4

‘China’s Palawan claim baseless, inaccurate’

By Jovee Marie N. dela Cruz @joveemarie

THE House Committee on Foreign Affairs on Tuesday strongly denounced China’s baseless and historically inaccurate claim over Palawan Island, which has recently spread across its social media.

The House Committee on Foreign Affairs chairperson, Pangasinan Rep. Rachel Arenas, emphasized that such assertions disregard international law and constitute an outright attack on Philippine sovereignty.

“The Philippines has always exercised full sovereignty over Palawan. This is an indisputable fact. China’s fabricated claims are blatant propaganda and an attack on our sovereignty. Palawan has always been and will always remain part of the Philippines. This is an established reality,” said Arenas in a statement.

Arenas urged relevant government agencies to issue official maps delineating Philippine territory in accordance with national laws. She stressed that this would counter China’s excessive and illegal claims over Philippine

territory.

Audacious assertion IN a separate statement, Jose Antonio Goitia, first nominee of the Ang Bumbero ng Pilipinas (ABP) party-list group, said China’s audacious assertion that Palawan was historically part of its territory is not only baseless but also a direct affront to international law.

He said this claim contradicts the United Nations Convention on the Law of the Sea (Unclos) and fundamental principles of sovereignty and territorial integrity.

“The Philippines must respond decisively with enhanced maritime patrols, a strengthened military presence, diplomatic protests, and deeper alliances with regional and global partners to counter China’s revisionist claims and expansionist agenda,” he added.

Goitia emphasized the ironclad legitimacy of Philippine sovereignty over Palawan.

“Palawan is an integral part of the Philippine archipelago. Under Unclos, which China ratified in 1996, coastal states have full sovereignty over their archipelagic waters, ter -

ritorial sea, exclusive economic zone (EEZ), and continental shelf. Palawan’s surrounding waters, including the West Philippine Sea, fall squarely within the Philippines’ exclusive economic zone [EEC], granting the nation exclusive rights over maritime resources, fisheries, and hydrocarbon reserves.”

Citing the historical record, Goitia noted that Palawan has long been recognized as part of the Philippines in international treaties. The 1898 Treaty of Paris saw Spain cede the Philippines, including Palawan, to the United States. The 1900 Treaty of Washington reaffirmed US sovereignty over additional islands, including Palawan, while the 1930 US-Britain Convention further solidified Palawan’s legal status as part of the Philippines.

Upon Philippine independence in 1946, the country inherited full sovereignty over Palawan.

Beyond its economic and natural resources, Palawan is also a critical military stronghold in the West Philippine Sea. “Palawan is not just a resource-rich province; it is the Philippines’ frontline defense against foreign aggression,” Goitia said.

Legislator bares Sara attempt to deflect attention on alleged misuse of funds

LAWMAKERS on Tuesday claimed that the appointment of former Department of Education (DepEd) spokesperson Michael Poa to Vice President Sara Duterte’s legal team appears to be a strategic move to prevent him from testifying in the coming impeachment trial by invoking lawyer-client confidentiality.

House Assistant Majority Leader Jude Acidre noted that Poa, who also served as spokesperson for the Office of the Vice President (OVP), holds critical information regarding the Vice President’s use of confidential funds. However, his inclusion in Duterte’s legal team may shield him from being compelled to testify before the impeachment court.

Acidre, a nominee of the party-list group Tingog, added that this move from Duterte’s camp seems to be another attempt to deflect attention from unanswered questions regarding the

alleged misuse of public funds.

“We see yet another attempt to deflect. If Atty. Mike Poa, who is our friend, truly wants to tell the truth; there was an opportunity during the investigation conducted by the Committee on Good Government,” Acidre said.

For her part, House Assistant Majority Leader Pammy Zamora said that Poa’s inclusion in Duterte’s legal team raises further doubts.

Zamora, who represents Taguig City, recalled that Poa previously claimed he had no knowledge of certain details regarding the use of confidential funds, asserting that they were beyond his scope as DepEd spokesperson. Now that he is part of Duterte’s legal team, she expressed anticipation that he would provide clearer answers.

“Before, former spokesperson Poa was unable to answer questions regarding confidential funds because he claimed

PHL healthcare info management systems sector eyes North American expansion

By Andrea E. San Juan @andreasanjuan

THE Philippines is participating in the Healthcare Information and Management Systems Society (HIMSS) Global Health Conference and Exhibition and the Philippine Healthcare USA Roadshow 2025 in Las Vegas to expand the sector’s reach into new international markets, particularly in North America, among others, according to the Department of Trade and Industry (DTI).  At HIMSS 2025, which is slated to happen from March 3 to 7, a “dedicated” Philippine pavilion will showcase the country’s expertise and capabilities in delivering

healthcare information management services, the DTI said in a statement on Tuesday.

The Trade department said this “strong” presence at HIMSS underscores the Philippines’ strategic ambition to “solidify” its position as the premier outsourcing destination for the healthcare information management systems sector.

DTI said the Philippine delegation can utilize this engagement, particularly the increasing demand for digital healthcare solutions and smart hospital technologies in North America, particularly within the US, its primary market.

The DTI underscored the importance of taking advantage of the networking opportunities at this exhibition as the country

leverages its “highly skilled and professional workforce, competitive cost structure, adherence to global standards, and robust government support.”

Complementing the HIMSS conference and exhibition, DTI said the Philippine Healthcare USA Roadshow will feature a business forum, targeted meetings, and facility visits to leading IT and HIMS companies in Las Vegas.

“This roadshow is designed to provide valuable insights into industry trends, supply chain developments, technological advancements, potential partnerships, and investment opportunities, among others,” the DTI noted.

The HIMSS Global Health

Conference and Exhibition is one of the world’s largest and most influential health IT events, offering Philippine firms a “platform” to expand their networks, secure business deals, and stay updated on emerging technologies.

Through this initiative, the country aims to strengthen its presence in the North American healthcare market, reinforcing its role as a “global leader” in healthcare IT while driving economic growth and job creation.

According to DTI, consistent participation in global exhibitions like HIMSS has resulted in “significant” outcomes for the Philippines.

In 2024, the country generated approximately $53

TRB

hopes of cashless toll collection system by yearend

THE Toll Regulatory Board (TRB) is optimistic that full cashless toll collection and interoperability among expressway operators will be implemented within the year, despite existing challenges in account management and system reliability.

TRB Executive Director Alvin Carullo said that while the original plan for full cashless implementation has been suspended for further review, the board is actively working on resolving key issues, particularly in the toll operators’ account management systems and the performance of radio-frequency identification (RFID) technology.

“Until and unless there’s categorical timing that all those issues are resolved, saka pa lang ipatutupad ,” he said in a chance interview on Tuesday. He noted that the TRB is preparing a position paper detailing its assessment, which will be submitted to ad interim Transportation Secretary Vince Dizon.

The agency has also conducted an audit of account management systems for both Metro Pacific Tollways Corp. (MPTC) and San Miguel Corp. (SMC), with results showing mixed outcomes.

he was not involved. Now that he is part of VP Sara’s impeachment defense team, we are eager to hear the correct answers from them,” she added.

Acidre, however, remained skeptical, suggesting that Poa’s legal team role is a calculated move to prevent him from disclosing crucial information in the impeachment court.

“I believe this step taken by VP Duterte’s camp is meant to stop Mike Poa from testifying and revealing the truth before the impeachment court,” he said.

Despite these concerns, Acidre said it remains to be seen whether Poa will choose to prioritize the truth over political considerations.

The impeachment trial against Duterte stems from allegations of corruption, including the questionable allocation and use of confidential funds during her tenure as Education Secretary.

million in export sales and secured potential investments worth $50 million over three years. These engagements, DTI said, have led to the expansion of several firms, which are projected to create around 2,000 to 5,000 new jobs for Filipino professionals.

The business mission is co-organized with the Health Information Management Association of the Philippines (HIMAP).

DTI added that this mission receives “crucial” support from several government programs and agencies, including the Tatak Pinoy Strategy Program, Philippine Economic Zone Authority (Peza), Department of Information and Communications Technology (DICT), Center for International Trade Expositions and Missions (CITEM), Philippine Trade and Investments Center-Los Angeles, and Philippine Honorary Consulate in Las Vegas.

“There are still some problems, particularly with real-time charging of loads. Toll operators must comply with the minimum performance specification standard [MPSS] that we are implementing strictly. If they fail to meet key performance indicators, there will be penalties,” Carullo explained. He explained that one of the persistent issues in the transition to cashless transactions is the reliability of RFID tags. While the readability of toll gate sensors is compliant with standards, defective RFID tags have been a recurring problem.

“The issue may not be with the readers but with the RFID [tags] themselves. Many of these tags become defective due to weather exposure and wear and tear, particularly when they were previously placed near headlights. Now, the policy requires installation on windshields, [which should extend their lifespan],” Carullo said.

Despite these hurdles, the TRB remains optimistic that cashless toll collection will be implemented this year, potentially alongside interoperability.

“I am hopeful that we can enforce cashless transactions within the year. If not, we will implement the cashless/contactless toll policy simultaneously with interoperability,” Carullo said.

To ensure a seamless rollout, the TRB will conduct a final proof-ofconcept testing around August or September, followed by a two-month dry run before full implementation of interoperability among toll operators.

The push for cashless toll collection has faced repeated delays due to concerns over system reliability and its potential impact on motorists.

Dizon earlier suspended its planned implementation, initially set for March 15, citing its possible burden on low-income motorists. The new transport secretary said that the current system remains flawed and could inconvenience motorists.

Cashless tolling has long been promoted as a solution to traffic congestion in major expressways. However, the policy’s previous rollout in December 2020 led to massive traffic jams owing to widespread RFID malfunctions. In September 2023, the TRB initiated extensive dry runs to address these concerns, refine the system, and increase public awareness.

As per the latest TRB data, 97 percent of expressway users have adopted RFID stickers for toll payments. Toll operators are now focusing on the remaining 3 percent of motorists who continue to pay in cash, urging them to transition to RFID for a more seamless travel experience. Lorenz S. Marasigan

MISSING AIRCRAFT. A Philippine Air Force FA-50PH jet fighter in Clark Air Base, Pampanga in this undated photo. The Philippine Air Force on Tuesday (March 4, 2025) confirmed that one of its 12 FA-50PH jet fighters was reported missing during a "tactical night" operation. PNA

A4 Wednesday, March 5, 2025

Economy

House food superpanel urges NFA to buy 20% of harvest

By Jovee Marie N. dela Cruz @joveemarie

THE House of Representa -

tives’ Murang Pagkain Supercommittee on Tuesday proposed that the National Food Authority (NFA) buy at least 20 percent of locally produced palay this harvest season as it also called on government agencies to step up their oversight in order to stop traders from manipulating farmgate prices.

Quezon Rep. Mark Enverga, who chairs the House Committee on Agriculture and Food and co-chairs the House Murang Pagkain Supercommittee, noted that in past harvest seasons, particularly from September to October, some farmers were compelled to sell their palay at prices as low as P14 to P18 per kilogram—well below sustainable levels.

“We must ensure that our farm -

ers receive fair compensation while keeping rice prices affordable for consumers,” Enverga emphasized as the rice harvest season fast approaches from March to May.

Recent data from the Philippine Statistics Authority (PSA) indicates that the average farmgate price of dry palay was P20.69 per kilogram in January 2025. However, without stricter oversight, unscrupulous traders may once again manipulate prices during the upcoming harvest.

Enverga also urged the Department of Agriculture (DA) and the NFA to step up monitoring and actively intervene in price stabilization.

He proposed that the NFA purchase at least 20 percent of locally produced rice this harvest season to help ensure fairer prices for farmers.

“If the NFA buys a larger share of the harvest, traders will have

less control over dictating prices. Competition in purchasing will guarantee farmers a stable income,” he explained.

To further curb price manipulation, Enverga recommended implementing a real-time digital price monitoring system that would make farmgate prices more transparent and accessible.

“There must be a clear pricing mechanism so that farmers are not deceived. With a price tracking system, we can immediately identify those engaging in price manipulation,” Enverga added.

While ensuring affordable consumer prices remains a priority, Enverga stressed that reducing reliance on rice imports is the key long-term solution. He advocated for expanded fertilizer subsidies, improved post-harvest facilities, and mechanization programs to lower production costs and enhance local rice production.

“The solution is not just about

making rice cheap but ensuring sufficient local production. We cannot rely on imported rice forever—we must support our own farmers,” he said.

He also emphasized the urgency of enforcing Republic Act 12022, or the Anti-Agricultural Economic Sabotage Act, signed into law in September 2024.

The law gives the government stronger legal tools to dismantle cartels, penalize hoarders, and stop price manipulation. It imposes severe penalties, including life imprisonment and hefty fines, for those found guilty of economic sabotage.

Enverga called on the AntiAgricultural Economic Sabotage Enforcement Group to immediately draft and implement a clear, enforceable framework to crack down on price-fixing and ensure that profiteering at the expense of both farmers and consumers is eradicated.

Japan, UN set aid for BARMM residents facing weather risks

By Bless Aubrey Ogerio

THE Japanese government and the United Nations World Food Program (WFP) have signed an agreement to support farmers and fishermen in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) who are vulnerable to extreme weather conditions.

Japan has pledged $4.9 million to assist 36,000 individuals, including those in conflictaffected areas. The funding will also help strengthen the

Bangsamoro government’s disaster management systems, focusing on early warning mechanisms and anticipatory action.

Japanese Ambassador Kazuya Endo highlighted his country’s commitment to support peace and development in Mindanao, emphasizing its broader importance to the region.

“We recognize that the peace process in Mindanao is crucial not only for the Philippines but for the entire Asian region. As a committed partner of the Philippines, Japan has made peace and

Ilocos Norte eyes PPP as economy booster

SEEKING to strengthen its economic foothold, Ilocos Norte is tapping publicprivate partnerships (PPPs) to push forward key development initiatives.

The PPP Center and the provincial government of Ilocos Norte have recently signed a memorandum of agreement (MOA) to accelerate economic growth by mobilizing resources and streamlining project implementation.

Socio-economic Planning Secretary Arsenio Balisacan, who hails from Ilocos Norte, emphasized the importance of taking advantage of private sector expertise to enhance efficiency and ensure sustainable development.

“By leveraging the strengths of both the public and private sectors, we can mobilize resources, enhance efficiency, and ensure

long-term sustainability in our development efforts,” Balisacan said during the recent signing ceremony at the PPP Center office in Quezon City.

Under the agreement, Ilocos Norte will work with the PPP Center to facilitate projects in infrastructure, agriculture, and technology. Among the priorities is the resumption of international flights at Laoag International Airport, which aims to improve connectivity with China, Hong Kong and Taiwan, and strengthen trade and tourism.

The partnership will also focus on agricultural development by forming cooperatives to support local farmers and promote sustainable practices. Investments in renewable energy, data centers, and manufacturing are also being explored to generate employment

development in Mindanao as one of the key pillars of our cooperation efforts,” Endo said.

“This project with WFP well aligns with the objectives of the normalization efforts for the region,” he added.

WFP country director Regis Chapman acknowledged Japan’s continued partnership in supporting communities in BARMM, particularly in disaster response and food security.

“Through initiatives ranging from disaster relief to school meals, we continue our efforts to

and drive growth.

Philippine Statistics Authority data indicate that Ilocos Norte recorded an 8.6 percent economic growth rate in 2023, the highest among provinces in Region I. Additionally, the province, along with Ilocos Sur, accounted for 14.2 percent of the region’s total economic output, with a per capita gross domestic product (GDP) of P122,330, also the highest in the region.

Balisacan said Republic Act 11966, or the PPP Code of the Philippines, provides a clearer framework for local government units and agencies to implement similar projects.

“I hope the activities outlined in the MOA and the lineup of proposed projects by the Provincial Government inspire other local government units and implementing agencies to explore PPPs as a means for rapid and sustainable economic transformation,” he said.

ensure that no one in BARMM is left behind,” Chapman said.

A Harvard survey conducted last November found that climate awareness and adaptation efforts in BARMM remain significantly low. (See: https://businessmirror.com.ph/2024/11/27/pinoys-aware-of-climate-changeyet-few-adapt/)

Also in 2024, the collaboration between Japan, the BARMM government and WFP provided food assistance and livelihood opportunities to 50,000 individuals in the region.

chief of staff for intelligence of the 8th Infantry “Storm Troopers” Division; and chief of the counterintelligence branch of the Army’s Office of the Assistant Chief of Staff for Intelligence (G-2).

Burgonio also served as the chief of the Anti-Terrorism Branch of the Armed Forces (AFP) Office of the Deputy Chief of Staff for Intelligence (J-2).

He is a member of the Philippine Military Academy Class of 1993.

The change in the leadership of PSC comes after the arrest of two Chinese nationals and three Filipinos, who were suspected of conducting espionage activities around the Malacañang complex in Manila last month.

After the incident, Castro announced that the Palace will be intensifying its security. Samuel P. Medenilla

www.businessmirror.com.ph

‘Nuclear, radiological emergency response, mitigation plan ready’

By Lenie Lectura @llectura

THE Department of Energy (DOE) announced on Tuesday that nuclear energy stakeholders and experts have crafted a National Nuclear and Radiological Emergency Preparedness and Response Plan (Radplan), aimed at strengthening the country’s ability to mitigate and respond to nuclear and radiological emergencies.

The Radplan establishes clear procedures for protecting public health and the environment while outlining coordinated response strategies for nuclear and radiological emergencies. It addresses potential incidents from various sources, including non-power applications of nuclear and radiological technologies—such as medical diagnostics and industrial quality control.

Moreover, it will enhance the country’s capacity to respond to nuclear incidents from power plants in neighboring countries, strengthening regional security.

The Radplan will be reviewed by the National Disaster Risk Reduction and Management Council (NDRRMC), which is responsible for ensuring that the plan aligns with national disaster risk reduction policies.

“This plan strengthens the country’s emergency response readiness, reducing risks from both internal and external nuclear and radiological hazards,” said Energy Director Nenito C. Jariel, Jr., who leads the Nuclear Energy Program Inter-Agency Commit -

tee (NEP-IAC) Subcommittee on Emergency Planning.

This effort builds on previous initiatives, including two writeshops in 2023 and a 2024 review by the Department of Science and Technology-Philippine Nuclear Research Institute (DOST-PNRI) Technical Working Group (TWG). The TWG assessed gaps, integrated best practices, and incorporated recommendations to ensure that the plan aligns with international nuclear safety frameworks and is in accordance with the Philippine Disaster Risk Reduction and Management Act of 2010.

Recently, a writeshop, led by representatives from the DOE and DOST-PNRI, was held. Around 70 participants from 23 member agencies of the NEPIAC, including technical experts from the NDRRMC preparedness and response clusters reviewed and refined the plan, focusing on comprehensive planning and coordination protocols, detailed emergency response procedures, effective preparedness strategies, and clear operational guidelines.

The NEP-IAC has been intensifying efforts on the development of the Nuclear Energy Program Roadmap to comply with the 19 infrastructure requirements set by the International Atomic Energy Agency (IAEA).

The country aims for a phased entry of nuclear energy into its power generation mix, beginning with a 1,200 megaWatt of capacity, with operations targeted to commence by 2032, up to 2,600 MW by 2035 and 4,800 MW by 2050.

Caap mulls restrictions on transport of gadgets

THE Civil Aviation Authority of the Philippines (Caap) in coordination with local and foreign airlines operating at the Ninoy Aquino International Airport (Naia) and other major airports, will come-up with a policy for the information and safety of all passengers and crew on the transport of dangerous goods like laptops, cellular telephones and power banks on board aircraft.

Caap spokesman Eric Apolonio said that Flight Operations Manager James Conner explained during a radio interview on Tuesday morning that the agency is now coordinating with airlines on how to educate passengers on the proper transport of the said dangerous goods in hand carry bags placed in an overhead compartment inside the aircraft.

New aviation safety regulations on the transport of electronic goods came in the wake of a fire aboard an Air Busan aircraft at Gimhae International Airport in South Korea on February 28, which was suspected to have been caused by a power bank or a battery.

“We will educate our passengers in coordination with the airlines that laptops, cellular phones and power banks will no longer allowed to be placed in handcarry bags, it will be allowed only ‘hand holding‘during the entire flight so that airline cabin crew will not have a hard time locating the said gadget if something happened,” Conner said.

The South Korean Ministry of Land, Infrastructure and Transport also announced that starting on March 1, passengers boarding flights in South Korea will be required to carry portable batteries and chargers on their person rather than storing them in overhead bins. Under the new regulations, power banks and chargers, as well as e-cigarettes, will still be allowed in carry-on luggage but strictly prohibited in checked baggage. Additionally, strict capacity limits for power banks will be enforced. Conner said that Caap allows the use of transmitting portable electronic devices, specially laptops and cellular telephones, as well as including MP3 and GSMOBA gadgets, on a conditional basis, on all commercial aircraft operating within or enroute over territorial jurisdiction of the Republic of the Philippines.

Conner explained that when aircraft doors are still open, laptops and cellular telephones may be used. Internet or short messageservice (SMS) or voice communication is allowed, unless the pilot-in-command announced on the public address system its prohibition. In no case shall laptops using broadband communications and cellular telephones be allowed or used when the aircraft is re-fueling, in this instance, all transmitting portable electronic devices must be turned-off. Nonie Reyes

Top-to-bottom-revamp BI sought over Guo’s escape

By ButchFernandez @butchfBM

NO less than a “top-to-bottom revamp” of the Bureau of Immigration (BI) is needed in order to exact accountability and avoid a repeat of its dismal performance in the case of dismissed Bamban, Tarlac Mayor Alice Guo.

Deputy Minority Leader Risa Hontiveros made this demand after presiding on Tuesday over the continuation of the Committee on Justice and Human Rights public hearing on her privilege speech urging the Department of Foreign Affairs (DFA) to cancel the Philippine passport of Guo, tagged as a Chinese national who acquired “Philippine citizenship” by fraud. Hontiveros said she will recommend a top to bottom revamp of the BI because it failed to watch the country’s porous borders and allowed “bad actors,” including Chinese spies, to enter the country.

Before she was transferred to Philippine custody by authorities in Indonesia, Guo Hua Ping had evaded arrest for her failure to attend congressional hearings on the POGO hub scam that she was accused of abetting in her town.

“On the other side, it allows the unfettered flight of fugitives [like Go] and the continued victimization of our fellow Filipinos,” the senator said. “This is about accountability—accountability for Alice Guo’s escape, but also in a larger sense, accountability for our failure to keep our borders safe and protect Filipinos,” she said, as she called for a revamp of the BI, starting with Commissioner Joel Anthony Viado.

She was incensed that no internal investigation had been done in BI to determine those who allowed Guo to exit first to Malaysia, then Singapore, before being tracked down in Indonesia on the basis of a request by the Philippine law enforcers through Interpol.

“To Commissioner Viado of the Bureau of Immigration, with all due respect, please consider this an ultimatum. If no satisfactory answers on these matters are provided by the BI within 15 days, as designated chair of this Subcommittee of the Committee of Justice, I will call for a revamp of the BI in the committee report of this subcommittee. A revamp starting from the Commissioner himself,” she said in her closing statement.

Kanlaon restiveness continues: Marcos vows support for affected communities

AMID the uncertainty when the Kanlaon’s volcanic activity will subside, President Ferdinand Marcos said the government will come out with a long-term plan allowing the affected communities to live in permanent evacuation areas in extended periods.

T he chief executive met with his Cabinet members last Monday to address the concerns of over 12,000 families, who were affected by ongoing restiveness of Kanlaon Volcano.

“We know there is no guarantee when the Kanlaon will stop from being active, so we have to take steps in place [to assist the affected] to ensure their safety and future,” Marcos said in Filipino in a post in his social media page last Tuesday.

“I will not allo w the living our citizens in Negros to be disrupted,” he added. That’s the one item we have to decide [on]—the location of the evacuation centers. Once again, let’s coordinate very closely with the local governments,” he said his meeting Cabinet officials last Monday.

“ They [local officials] already have some proposals. Let us see if it’s scientifically correct in terms of the choice...And then

[let’s see] how we regulate the rebuilding in the different towns,” he added.

T he President created the National Task Force on Kanlaon led by the Department of Defense-Office of Civil Defense (DNDOCD) to look into the said proposal for safe evacuation sites and permanent relocation sites.

L ocated in the Negros Island, Kanlaon had an explosive eruption last December, which spewed voluminous plume and pyroclastic materials prompting people living in the PDZ to evacuate.

In its la test situation report, the National Disaster Risk Reduction and Management Council (NDRRMC) said Kanlaon remains under alert Alert Level 3 (magmatic unrest) as of 1 March 2025.

This means magmatic has begun that may progress to further explosive eruptions. All local government units are advised to evacuate the 6-km radius from the summit of the volcano and must be prepared for additional evacuation if activity warrants,” Marcos said.

ND DRMC reported that the government already provided some P197.5 million worth of aid to the over 12,000 affected families as of last January. Samuel P. Medenilla

Comelec junks DQ case against Tulfos

TBy Justine Xyrah Garcia

HE Tulfo family can now breathe a little easier after the Commission on Elections (Comelec) dismissed the disqualification case filed against five of its members running in the May elections.

In Special Action 25-017 made public on Tuesday, the commission’s First Division ruled that the petition was “insufficient in form,” leading to its dismissal.

“Upon scrutiny of the submitted petition and its attachments, it appears that the petitioner failed to provide copies of the respondents’ Certificates of Candidacy [COCs], which would have been vital in properly verifying the necessary information alleged in the petition. Consequently, it also cannot be verified whether the petition was properly served to the respondents,” the ruling said. The petition was filed by lawyer Virgilio R. Garcia, a congressional candidate in Quezon City.

He argued that the five Tulfos running for both national and local positions are closely related to incumbent Sen. Rafael “Raffy” Tulfo, falling “within the first or second

civil degree of consanguinity or affinity.”

Citing Article II, Section 26 of the 1987 Constitution, the petitioner contended that their candidacies violate the provision that mandates equal access to public service and prohibits political dynasties as defined by law. The Tulfos named in the petition were ACT-CIS Rep. Erwin T. Tulfo (for senator), ACT-CIS Rep. Jocelyn P. Tulfo (as party-list nominee), Quezon City Rep. Ralph Wendel P. Tulfo (for QC Second District representative), Wanda T. Teo (as party-list nominee), and Ben T. Tulfo (for senator).

However, Comelec Chairman George Erwin M. Garcia clarified that the case was dismissed purely on technical grounds, as the petition lacked required documents.

“The dismissal was really based on technicality because the necessary attachments proving that the Comelec has jurisdiction over the case were missing... Those filing petitions before the Comelec should always ensure that the accusation, allegation, grounds, filing fees, and attachments are complete. Otherwise, the case will be dismissed on technicality and

PCO chief Jay Ruiz denies ties to ₧206-M PCSO deal, calls allegations a ‘demolition job’

By Samuel P. Medenilla @sam_medenilla

RESIDENTIAL Communications Office

P(PCO) Secretary Jay Ruiz said he did not receive any commission from the P206-million deal between joint venture of Digital8 Inc. and the Intercontinental Broadcasting Corporation (IBC) 13 with the Philippine Charity Sweepstakes Office (PCSO) last year.

He made the clarification after he publicly condemned the report of the online media firm, Politiko, which he suspects is part of a demolition job against him as he pushed with the reforms of PCO.

“So, now it is surprising that now we are making changes. On my 8th day there is a story like this coming out. What is this, a demolition job? Is this fake news?,” Ruiz said in Filipino during a press briefing in Malacañang last Tuesday.

Ruiz was appointed as the new PCO secretary on 24 February 2025.

Last Monday, Politiko published a report, which claimed Ruiz owned Digital8, when it signed the PCSO deal for the airing of the lotto draws and other games.

Ruiz maintained he is only the sales and marketing head of Digital8 and not its president, stockholder, or owner.

This, despite multiple articles, which

were posted online last December, where Ruiz was tagged as the President of Digital8 during a PCSO press conference.

Distraction

R

UIZ said he initially planned to file a case against Politiko for the alleged false report after it affected his family, including his 78year old mother, who has a heart disease. However, Ruiz decided to reconsider it since it can distract him further from his task in PCO.

“I was contemplating it. Of course my first reaction was to file legal action against these purveyors of fake news. But after sleeping on it, realized it might distract or [affect] my focus in what to do as [head] of the Presidential Communications Office,” Ruiz said.

He said the online news firm did not only get his side on the matter, but it was published without a byline and with a misleading title, which made it appear that he won the Lotto when the PCSO deal was finalized.

“The story also did not include any document. In the story, it says was an authorized representative—even the document said it. So, all you have to do is easy—look for who is the owner [of Digital8],” Ruiz said.

Ruiz declined to name who is the owner

of Digital8, who may not want to be involved in the controversy.

The issue, he said, could have been easily cleared had Politiko sought his side on the matter.

“The greater the accusation, the greater the fact-checking [needed] and make sure that you ask the person that’s being accused,” Ruiz said.

Owned companies

SINCE he resigned from Digital8, Ruiz said he does not need to divest from it after his appointment as mandated by Republic Act No. 6713.

However, he noted that he does own other firms, where he needs to divest, including political management firm, restaurants in Katipunan and in Congress, an art gallery, and a leasing firm.

“So all of these came from the blood and sweat of me and my wife, which we don’t want mixed [in this issue] since we worked hard for these,” Ruiz said.

Except for the restaurant in the House of Representatives, he said none of his companies have any dealings with the government.

He said he is prepared to divest from the said firms when he joined the government.

“I did not go [to the government] to make money. In fact, it is a decrease in my

260 ships, including 19 from China, seen in WPS

FOR the month of February, a total of 260 assorted ships were detected in the West Philippine Sea (WPS,) of which 19 are classified as belonging to Chinese maritime forces, a military spokesperson said Tuesday.

“For the month of February, a total of 260 various vessels were monitored in the WPS, of which 19 PLA [People’s Liberation Army]Navy and CCG [China Coast Guard]vessels were in Ayungin or Second Thomas Shoal, Sabina or

income since I have neglected my business,” Ruiz said.

Ongoing reforms

DESPITE the said demolition job against him, Ruiz vowed to continue to implement reforms in PCO in in line with the instruction of Executive Secretary Lucas P. Bersamin.

“We are trying to streamline, which is also an order from the Executive Secretary, to come up with better processes in Presidential Communications Office kasi because there are so many leaks and duplication office, which needs to be changed,” he said.

He said the ongoing revamp in the leadership of PCO and its attached agencies is part of the initiative to make is operations more efficient.

The new PCO chief assured his decision to retain incumbents officials or those who will be appointed will be based on performance.

“So, as I said, you will have to make hard choices, I will have to make hard choices. But I know that if I made the wrong choice it’s my—it’s me on the line,” Ruiz said. During his term, Ruiz assured PCO will intensify its campaign against fake news, ensure government communication will reach more people so they will be informed about the government initiatives.

Escoda [Shoal] and Bajo de Masinloc or Scarborough Shoal,” Armed Forces of the Philippines (AFP) spokesperson Col. Francel Margareth Padilla said in a press briefing Tuesday. She added that the Chinese ships’ persistent illegal in the WPS “blatantly disregards the 2016 Arbitral Tribunal ruling”. This infringes upon Philippines sovereignty and sovereign rights, Padilla said. “Your AFP will remain steadfast in our commitment to upholding international law and defending the integrity of our national territory,” she added. Rex Anthony Naval

Sen. Pimentel III seeks Senate probe on series of bridge collapse

SENATE Minority Leader Aquilino “Koko”

Pimentel III is calling for a Senate investigation into the repeated incidents of bridge collapses in the country to hold contractors, government officials, and other responsible parties accountable.

“The number of incidents of bridges collapsing across the country has reached an alarming level. These have resulted in fatalities, injuries, and significant economic losses, raising urgent concerns over deficiencies in engineering and design, use of substandard materials, lack of proper oversight, and possible corruption ininfrastructure projects,” Pimentel stressed in filing Senate Resolution No. 1319.

“Billions of pesos are spent and years are wasted building these bridges, only for them to collapse in an instant, endangering lives and squandering public funds. Bridges must be built to withstand calamities and heavy use, yet their repeated collapses raise serious concerns,” Pimentel underscored.

Pimentel made the call following the recent collapse of the Cabagan-Santa Maria

will never reach [determination on] the merits,” Garcia said, partly in Filipino.

He also emphasized that including the respondents’ COCs is a mandatory requirement, as well as ensuring that the respondents also receive copies of the petition.

“The Comelec cannot simply presume

Bridge in Isabela.

Under Executive Order No. 124 series of 1987, the Department of Public Works and Highways (DPWH) shall serve as the engineering and construction arm of the State to ensure the safety of all infrastructure facilities and secure for all public works and highways the highest efficiency and the most appropriate quality in construction, according to Pimentel in filing Senate Resolution No. 1319.

The newly-opened bridge in Isabela, a 990-meter-long bridge, with a total project cost of P1.225 billion, was completed on February 1, 2025. However, just weeks after its opening, the bridge collapsed on February 27, 2025, when an overloaded dump truck attempted to cross it.

Since 2022, Pimentel has been calling for a review and investigation into governmentconstructed bridges, citing an alarming number of structures with questionable integrity.

Pimentel pointed to multiple bridge collapses as evidence of structural failures.

or assume that the individuals being questioned are candidates, especially if they are not widely known,” he said.

He urged petitioners to review existing election rules before filing cases, stressing that while the Comelec is not trying to be overly strict, basic requirements must still be followed.

The recent collapse of the Magapi Bridge in Balete, Batangas on October 28, 2024, has once again raised concerns over the safety and integrity of the country’s infrastructure. The bridge reportedly gave way due to strong flood currents and uprooted trees carried by the water during Typhoon Kristine.

This incident follows the October 29, 2022, collapse of the Bantilan Bridge, a 30-meter concrete structure connecting Batangas and Quezon. The bridge, located between Barangay Tipas in San Juan, Batangas, and Barangay Bantilan in Sariaya, Quezon, was allegedly weakened by raging river currents and floods before eventually giving way.

Another similar case occurred on October 20, 2022, when the Carlos Romulo Bridge in Bayambang, Pangasinan, collapsed. Reports indicate that the incident was caused by two overloaded dump trucks exceeding the bridge’s weight limit, resulting in significant damage and injuries to four individuals.

Garcia also noted that the petitioner still has the option to file a motion for reconsideration, which would bring the case before the Commission en banc for review.

As of writing, Erwin Tulfo is the only one among the five with a pending disqualification case before the Comelec.

In addition, a bridge under construction in Kulafu, Magsaysay, Marilog District, Davao City, collapsed on February 18, 2022, while workers were filling its floor with fresh concrete. The incident injured three workers who were immediately taken to the hospital. The project, undertaken by MCCI Construction under the DPWH-Davao Region, was initially set for completion in March 2022 as part of a P93.7 million flood control and connectivity project. Also, four people sustained injuries when a 12-wheeler truck fell 80 feet into a river after a steel bridge collapsed in Barangay San Isidro, Majayjay, Laguna, on January 29, 2022. The truck was allegedly transporting sand from Bacolor, Pampanga.

“These incidents highlight the urgent need to review compliance by national and local governments as well as contractors with engineering standards, design feasibility, maintenance protocols, and infrastructure budget allocation,” Pimentel concluded. Butch Fernandez

In Bohol, the Borja Bridge collapsed on June 16, 2022. This was allegedly caused by a 12-wheeler dump truck that exceeded the bridge’s weight limit. Another tragic event occurred in Bohol on April 27, 2022, when the Loay-Clarin Bridge, which spans the famous Loboc River, collapsed. This resulted in four fatalities and 18 injuries.

The petition was filed by disbarred lawyer Berteni C. Causing last week, citing the 2008 libel conviction of Erwin and four more other grounds.

Disqualification cases against any national or local candidate may be filed before the poll body until the proclamation of winners.

Trump slaps 25% tariffs on imports from Mexico and Canada, igniting North American trade war

By Josh Boak, Paul Wiseman & Rob Gillies The Associated Press

WASHINGTON—President

Donald Trump’s longthreatened tariffs against Canada and Mexico went into effect Tuesday, putting global markets on edge and setting up costly retaliations by the United States’ North American allies.

Starting just past midnight, imports from Canada and Mexico are now to be taxed at 25 percent, with Canadian energy products subject to 10 percent import duties.

The 10 percent tariff that Trump placed on Chinese imports in February was doubled to 20 percent, and Beijing retaliated Tuesday with tariffs of up to 15 percent on a wide array of US farm exports. It also expanded the number of US companies subject to export controls and other restrictions by about two dozen.

Canadian Prime Minister Justin Trudeau said his country would slap tariffs on more than $100 billion of American goods over the course of 21 days. Mexico didn’t immediately detail any retaliatory measures.

The US president’s moves raised fears of higher inflation and the prospect of a devastating trade war even as he promised the American public that taxes on imports are the easiest path to national prosperity. He has shown a willingness to buck the warnings of mainstream economists and put his own public approval on the line, believing that tariffs can fix what ails the country.

“It’s a very powerful weapon that politicians haven’t used because they were either dishonest, stupid or paid off in some other form,” Trump said Monday at the White House. “And now we’re using them.”

The Canada and Mexico tariffs were supposed to begin in February, but Trump agreed to a 30-day suspension to negotiate further with the two largest US trading partners. The stated reason for the tariffs is to address drug trafficking and illegal immigration, and both countries say they’ve made progress on those issues. But Trump has also said the tariffs will only come down if the US trade imbalance closes, a process unlikely to be settled on a political timeline.

The tariffs may be short-lived if the US economy suffers. But Trump could also impose more tariffs on the European Union, India, computer chips, autos and pharmaceutical drugs. The American president has injected a disorienting volatility into the world economy, leaving it off balance as people wonder what he’ll do next.

“It’s chaotic, especially compared to the way we saw tariffs rolled out in the first (Trump) administration,” said Michael House, co-chair of the international trade practice at the Perkins Coie law firm. “It’s unpredictable. We don’t know, in fact, what the president will do.’’ Democratic lawmakers were quick to criticize the tariffs, and even some Republican senators raised alarms.

Sen. Susan Collins, R-Maine, said she’s “very concerned” about the tariffs going into effect because of her state’s proximity to Canada.

“Maine and Canada’s economy are integrated,” Collins said, explaining that much of the state’s lobsters and blueberries are processed in Canada and then sent

back to the US.

The world economy is now caught in the fog of what appears to be a trade war.

Even after Trump announced Monday that the tariffs were going forward, Canadian officials were still in touch with their US counterparts.

“The dialogue will continue, but we are ready to respond,” Canadian Defense Minister Bill Blair said in Ottawa as he went into a special Cabinet meeting on US-Canada relations. “There are still discussions taking place.”

Shortly after Blair spoke, Trudeau said Canada would impose 25 tariffs on $155 billion Canadian ($107 billion US) worth of American goods, starting with tariffs on $30 billion Canadian ($21 billion US) worth of goods immediately and on the remaining amount on American products in three weeks.

“Our tariffs will remain in place

until the US trade action is withdrawn, and should US tariffs not cease, we are in active and ongoing discussions with provinces and territories to pursue several nontariff measures,” Trudeau said. The White House would like to see a drop in seizures of fentanyl inside the United States, not just on the northern and southern borders. Administration officials say that seizures of fentanyl last month in everywhere from Louisiana to New Jersey had ties to foreign cartels.

Damon Pike, technical practice leader for customs and trade services at the tax and consulting firm BDO, suggested the responses of other countries could escalate trade tensions and possibly increase the economic pressure points.

“Canada has their list ready,” Pike said. “The EU has their list ready. It’s going to be tit for tat.’’

The Trump administration has suggested inflation will not be as bad as economists claim, saying tariffs can motivate foreign companies to open factories in the United States. On Monday, Trump announced that Taiwan Semiconductor Manufacturing Company, the computer chipmaker, would be investing $100 billion in domestic production.

Still, it can take time to relocate factories spread across the world and train workers with the skills they need.

Greg Ahearn, president and CEO of The Toy Association, said the 20 percent tariffs on Chinese goods will be “crippling” for the toy industry, as nearly 80 percent of toys sold in the US are made in China.

“There’s a sophistication of manufacturing, of the tooling,” he said. “There’s a lot of handcrafting that is part of these toys that a lot of people don’t understand … the face painting, the face masks, the hair weaving, the hair braiding, the cut and sew for plush to get it to look just so. All of that are very high hands, skilled labor that has been passed through generations in the supply chain that exists with China.”

For a president who has promised quick results, Ahearn added a note of caution about how quickly US factories could match their Chinese rivals.

“That can’t be replicated overnight,” he said.

Gillies reported from Toronto. Associated Press writers Anne D’Innocenzio in New York and Lisa Mascaro in Washington contributed to this report.

Canada ready to retaliate against US tariffs, foreign minister says

By Brian Platt

CANADA has prepared a sweeping package of counter-tariffs against USmade products, its foreign minister said, after President Donald Trump confirmed that his administration will go ahead with levies against Canada and Mexico on Tuesday.

“N o room left for Mexico or for Canada,”

Trump told reporters Monday when asked if those two countries could reach a deal to delay tariffs. “They’re all set. They go into effect tomorrow.”

Minutes later, Canadian Foreign Minister Melanie Joly said the government in Ottawa is ready to go ahead with the retaliatory duties announced in early February by Prime Minister Justin Trudeau.

T hose included an initial set of 25 percent tariffs on about C$30 billion ($20.6 billion) worth of goods from US exporters— including orange juice, peanut butter, wine and coffee—and a second round on C$125 billion of products, including cars, trucks, steel and aluminum, which would come

into effect in a few weeks.

“ We know that this is an existential threat to us, and there are thousands of jobs in Canada at stake,” Joly said. “Should the US decide to launch their trade war, we will be ready. We are not looking for this. We’re not seeking this.”

The Canadian dollar and stocks tumbled, with the benchmark S&P/TSX Composite Index falling 1.5 percent, the most since December 18. Traders in overnight swaps increased bets the Bank of Canada would cut interest rates by 25 basis points at its March 12 meeting, rising to nearly 80 percent from about a coin flip.

Trump’s executive order, signed Feb. 1, calls for 25 percent tariffs against most of what the US imports from Canada and Mexico and 10 percent on Canadian energy products such as crude oil, natural gas and uranium.

T he Bank of Canada has warned that a prolonged tariff war has the potential to chop Canadian output by nearly 3 percent over two years and “wipe out growth” during that period. Demand for Canadian goods in

the US would suffer, exporters would cut production and jobs, prices for products imported from the US would rise, and consumers and businesses would spend less.

Trudeau, who’s set to leave office in a matter of days, is returning Monday from a trip to London, where he met with UK Prime Minister Keir Starmer and other leaders.

“Businesses on both sides of the border have already been damaged by the uncertainty coming from President Trump’s drip-drip-drip of tariff threats,” Matthew Holmes, chief of public policy at the Canadian Chamber of Commerce, said in a statement.

“We will have a long road back to Canada and the US being trusted economic partners again. Businesses can’t just switch their whole model to avoid tariffs and then go back again, depending on what politicians decide on any given day,” Holmes said.

Trump’s executive action alleged that Canada allows too much fentanyl to flow over the border. Canadian officials say that’s simply not true—pointing to US government data that shows far less than

US stocks plunge as Trump announces tariffs on Canada and Mexico, wiping out market gains since election day

By STAN CHOE AP Business Writer

EW YORK—US stocks tumbled Monday and wiped out even more of their gains since President Donald Trump ‘s election in November, after he said that tariffs announced earlier on Canada and Mexico would take effect within hours. The S&P 500 dropped 1.8 percent after Trump said there was “no room left” for negotiations that could lower

strength. Monday’s loss shaved the S&P 500’s gain since Election Day down to just over 1 percent from a peak of more than 6 percent. That rally had been built largely on hopes for policies from Trump that would strengthen the US economy and businesses. The Dow Jones Industrial

from big US companies, the market began diving following weaker-thanexpected reports on the US economy, including a couple showing US households are getting much more pessimistic about inflation because of the threat of tariffs. The latest such report arrived Monday on US manufacturing. Overall activity is still growing, but not by quite as much as economists had forecast. Perhaps more discouragingly, manufacturers are seeing a contraction in new orders. Prices, meanwhile, rose amid discussions about who will pay for Trump’s tariffs.

1 percent the illicit opioid that’s seized by US border agents is found at or near the northern crossing.

S till, Trudeau’s government announced a C$1.3 billion plan to beef up border security by adding more aerial surveillance through helicopters and drones. It included a pitch for a new North American joint “strike force” to tackle the fentanyl trade. The prime minister has also appointed a so-called fentanyl czar and increased the number of personnel available to patrol the border, and promised further measures to crack down on organized crime.

C anada’s provinces are also prepared to retaliate against the US. A tariff on Canada is a tax on Americans,” Ontario Premier Doug Ford said at a mining convention in Toronto on Monday. “If they’re going to try to annihilate Ontario, I will do everything—including cutting off their energy—with a smile on my face. I’m encouraging every other province to do the same.”

“Demand eased, production stabilized, and destaffing continued as panelists’ companies experience the first operational shock of the new administration’s tariff policy,” said Timothy Fiore, chair of the Institute for Supply Management’s manufacturing business survey committee. The hope on Wall Street had been that Trump was using the threat of tariffs as a tool for negotiations and that he would ultimately go through with potentially less damaging policies for the global economy and trade. But Trump’s going forward with the Mexican and Canadian tariffs hit a market that wasn’t certain about what would happen next. The market’s recent slump has hit Nvidia and some other formerly highflying areas of the market particularly

THE flags of Mexico, Canada and the United States are shown near the Ambassador Bridge, Monday, February 3, 2025, in Detroit. AP/PAUL SANCYA, FILE

www.businessmirror.com.ph

The World

Pope Francis suffers new respiratory crises, back on noninvasive ventilation

By Nicole Winfield

The Associated Press

ROME—Pope Francis suffered two new acute respiratory crises Monday and was put back on noninvasive mechanical ventilation, in another setback to his battle to fight pneumonia, the Vatican said.

Doctors extracted “copious” amounts of mucus from his lungs during two bronchoscopies, in which a camera-tipped tube was sent down into his airways with a sucker at the tip to suction out fluid. The Vatican said the mucus was his body’s reaction to the original pneumonia infection and not a new infection, given laboratory tests don’t indicate any new bacteria.

Francis remained alert, oriented and cooperated with medical personnel. The prognosis remained guarded. Doctors didn’t say if he remained in stable condition, though they referred to the crises in the past tense, suggesting they were over.

The crises were a new setback in what has become a more than two-week battle by the 88-year-old pope, who has chronic lung disease and had part of one lung removed, to overcome a complex respiratory infection.

Dr. John Coleman, a pulmonary critical care doctor at Northwestern Medicine in Chicago, said the episodes were more concerning than the last one on Friday, in which Francis had a coughing fit, inhaled some vomit that needed to be extracted and then was put on the noninvasive mechanical ventilation for a day and then didn’t need it anymore.

The use of bronchoscopies reflects a worrying level of mucus and phlegm in the lungs, Coleman said. “The fact that they had to go in there and remove it manually is concerning, because it means that he is not clearing the secretions on his own,” he said.

“He’s taking little steps forward and then steps back,” said Coleman, who is not involved in Francis’ care.

In a late update, the Vatican said the episodes were caused by a “significant accumulation” of mucus in his lungs and bronchial spasms. “Copious secretions,” were extracted during the bronchoscopies and the pope was put back on noninvasive mechanical ventilation, a mask that covers his nose and mouth and pumps oxygen into the lungs, the Vatican said. Francis, who is not physically active, uses a wheelchair and is overweight, had been undergoing respiratory physiotherapy to try to improve his lung function. But the accumulation of the secretions in his lungs was a sign that he doesn’t have the muscle tone to cough vigorously enough to expel the fluid.

The Vatican hasn’t released any photos or videos of Francis since before he entered the hospital on Feb. 14 with a complex lung infection. This has become the longest absence of his 12-year papacy.

The Vatican has defended Francis’ decision to recover in peace and out of the public eye. But on Monday one of Francis’ closest friends at the Vatican, Archbishop Vincenzo Paglia, urged him to let his voice

See “Pope,” A8

Indian steelmakers see silver lining in Trump’s trade tariffs

By Sibi Arasu

The Associated Press

BENGALURU, India—Rows of small factories line the streets of a dusty suburb in Bengaluru, where workers weld and cast Indian-made steel into everything from car parts to kitchen sinks.

Here, US President Trump’s announcement to impose high trade tariffs on steel imports has some unexpected supporters. Many industry workers and experts expect that the result of tariffs will be that cheap steel gets dumped in places like India. That’s because the announced 25 percent tariff will make it too expensive for many companies in countries like China and South Korea to keep exporting to the US.

For B. Praveen of Sun Techpro Engineering, which makes products from steel metal sheets, it means his “waferthin” profit margins will probably grow as the steel he buys gets cheaper.

“For thousands of companies like mine, this can be a good thing,” he said. Businesses such as Praveen’s employ over 200 million Indians and are key drivers of

Continued from A6

India’s economy.

But cheaper steel in India isn’t good for everyone. In February Naveen Jindal, the president of the Indian Steel Association, which represents all India’s steelmakers, said that he was “deeply concerned,” especially since “India is one of the few major markets without any trade restrictions,” making it a target for potential steel dumping. And the increased competition could impact efforts by India to produce its own steel more cleanly. The current production of most Indian steel releases high levels of greenhouse gas emissions, which cause climate change. Reduction efforts could be cut in the interest of keeping profits up. India’s steel industry is big and dirty— and is set to keep growing India is the world’s most populous nation and one of the fastest-growing major economies. Steel demand is rising rapidly due to fast-paced urbanization, infrastructure, and industrial growth, and the government expects steel production to increase from 120 million tons to 300

See “India,” A8

TSMC expands chip manufacturing in US with $100 billion investment

By Didi Tang & Michelle L. Price

The Associated Press

WASHINGTON—Chip giant Taiwan Semiconductor Manufacturing Co. plans to invest $100 billion in the United States, President Donald Trump said Monday, on top of $65 billion in investments the company had previously announced.

TSMC, the world’s biggest semiconductor manufacturer, produces chips for companies including Apple, Intel and Nvidia. The company had already begun constructing three plants in Arizona after the Biden administration offered billions in subsidies. Its first factory in Arizona has started mass production of its 4-nanometer chips.

Trump, who appeared with TSMC’s chief executive officer C. C. Wei at the White House, called it a “tremendous move” and “a matter of economic security.”

“Semiconductors are the backbone of the 21st century economy. And really, without the semiconductors, there is no economy,” the president said. “Powering everything from AI to automobiles to advanced manufacturing, we must be able to build the chips and semiconductors that we need right here in American factories with Americans skill and American labor.”

Wei said the investment will be for three more chip manufacturing plants, along with two packaging facilities, in Arizona.

The $165 billion investment “is going to create thousands of high-paying jobs,” Wei said.

Former President Joe Biden in 2022 signed a sweeping $280 billion law, the CHIPS and Science Act, to try to reinvigorate chip manufacturing in the US, especially after the Covid-19 pandemic.

During the pandemic, chip factories, especially those overseas making the majority of processors, shut down. It had a ripple effect that led to wider problems, such as automobile factory assembly lines shutting down and fueled inflation.

Trump has criticized the law and taken a different approach, instead threatening to impose high tariffs on imported chips to bring chip manufacturing back to the US.

Trump also has said companies

like TSMC do not need federal tax incentives.

At the Commerce Department, 40 people who worked on the implementation of the Chips Act were fired Monday as part of the Trump administration’s sweeping moves to cut the size of the federal workforce, according to a person familiar with the move who was not authorized to speak publicly.

When asked if the new investment could minimize impact on the US should China either isolate or seize Taiwan, Trump said he couldn’t say “minimize” because “that would be a catastrophic event obviously.”

Taiwan is an island that broke away from mainland China in 1949 following a civil war. Beijing claims sovereignty over the island and has ratcheted up military and diplomatic pressure on its leaders.

“It will at least give us a position where we have, in this very, very important business, we would have a very big part of it in the United States,” Trump said of the chip manufacturing.

He did not say if the investment would provide security for the self-governed island that Beijing considers to be part of Chinese territory.

Taipei Economic and Cultural Representative Office, the island’s de-facto embassy in the United States, said investments by Taiwanese businesses in the US have exceeded 40 percent of the island’s total foreign investments and that the Taiwanese government is “glad” to see Taiwanese businesses to expand investments in the US and to deep cooperation on supply chain between the two sides.

“It also brings the economic and trade relations closer,” the office said.

Bonnie Glaser, managing director of the Indo-Pacific program at German Marshall Fund of the US, said Taipei is hoping the increased investment pledge will help keep the US-Taiwan relationship strong. “Taiwan is evidently stepping up in a way that supports and advanced President Trump’s priorities,” she said. “The US will benefit greatly from TSMC’s investment.”

Trump has yet to indicate his stance on US support for Taiwan’s security since he took office, and he has said Taiwan should pay the US for its military defense.

Trump has hosted multiple

business leaders at the White House since he took office in January to tout a series of investments that aim to demonstrate his leadership is a boon for the US economy. He’s also pointed to the tariff threats as prodding the investments.

“It’s the incentive we’ve created. Or the negative incentive,” Trump said.

In January, he appeared with the heads of OpenAI, Oracle and SoftBank at the White House as they announced plans for a new partnership to invest up to $500 billion for infrastructure tied to artificial intelligence. He also announced in January a $20 billion

investment by DAMAC Properties in the United Arab Emirates to build data centers tied to AI.

Last week, after Apple CEO Tim Cook met with Trump at the White House, the company announced plans to invest more than $500 billion in the US over the next four years, including plans for a new server factory in Texas. Trump said after their meeting that Cook promised him Apple’s manufacturing would shift from Mexico to the US.

“I don’t have time to do all of these announcements,” Trump joked Monday as he listed some of the other investments.

The Wall Street Journal first reported the planned announcement Monday.

The Associated Press writers Josh Boak and Chris Megerian contributed to this report. Price reported from New York.

US lawmakers and members of Trump’s team not to impose the tariffs.

“It will shut down manufacturing because 50 percent of the nickel you use is coming out of Ontario,” the provincial leader said in an interview with NBC News.

“ We will have to bring the fight and it will hurt Americans as well. It’s important to reiterate that 35 of those states, their primary trading partner is Canada, so it will hurt them. And we hope the logic will prevail.” With assistance from Randy Thanthong-Knight, Melissa Shin and Erik Hertzberg /Bloomberg Canada. . .

Canadian cabinet ministers, provincial premiers and other policymakers have made repeated trips to Washington in recent weeks to talk about the border and to urge

Ontario and other provinces have promised to limit or shut out US companies from government contracts, with Ford reiterating that he would end his province’s contract with Starlink, the Elon Muskcontrolled satellite network. And in a new threat, the Ontario premier said he was prepared to cut off nickel exports to the US.

hard. They fell even more Monday, with Nvidia down 8.8 percent and Elon Musk’s Tesla down 2.8 percent.

Elsewhere on Wall Street, Kroger fell 3 percent after the grocery chain’s Chairman and CEO Rodney McMullen resigned following an internal investigation into his personal conduct.

Wall Street’s blue Monday even pulled down stocks of companies enmeshed in the cryptocurrency economy, which had risen strongly in the morning. They initially bounced after Trump said over the weekend that his administration was moving forward with a crypto strategic reserve.

But MicroStrategy, the company that’s now known as Strategy and has been

raising money to buy bitcoin, slid to a loss of 1.8 percent. Coinbase, the crypto trading platform, fell 4.6 percent. All told, the S&P 500 fell 104.78 points to 5,849.72. The Dow Jones Industrial Average dropped 649.67 to 43,191.24, and the Nasdaq composite slumped 497.09 to 18,350.19.

Across the Pacific in China, manufacturers reported an uptick in orders in February as importers rushed to beat higher US tariffs and a Chinese state media report said that Beijing was considering ways to retaliate. Trump had imposed a tariff of 10 percent on imports from China, and that’s scheduled to rise to 20 percent beginning Tuesday. He also ended the “de minimis” loophole that exempted imports worth less than $800 from tariffs. In Hong Kong, Chinese bubble tea

Joly said go vernment officials have had good conversations with members of the Trump administration. But “there’s a level of unpredictability and chaos that comes out of the Oval Office and we will be dealing with it,” she said.

Immigr ation Minister Marc Miller said earlier Monday that there’s “no question”

chain Mixue Bingcheng’s stock soared 43 percent following its $444 million debut on the market. The company claims to be the world’s largest food retail chain, with more than 45,000 outlets, and its jump came as the Hang Seng index rose 0.3 percent. Indexes rose by even more across Europe and in Tokyo. European markets leaped after a report showed an easing of inflation in February. That should help the European Central Bank, which investors widely expect will deliver another cut to interest rates later this week.

Germany’s DAX surged 2.6 percent, and France’s CAC 40 jumped 1.1 percent.

Stocks outside the United States have performed better than the S&P 500 this year, even with Trump’s promises for “America First” policies In the bond market, the yield on the 10-year Treasury fell to 4.16 percent from

tariffs will be painful for the Canadian economy.

4.24 percent just before the manufacturing report’s release. It’s come down sharply since January, when it was approaching 4.80 percent, as worries have built about the possibility of a slowing US economy. Often, drops in Treasury yields can give a boost to stock prices because they make loans cheaper to get and give a boost to the economy. But the reason for this recent drop in yields, softer economic growth expectations, may mean that’s not the case this time, according to Morgan Stanley strategists led by Michael Wilson. Typically, the Federal Reserve would cut interest rates if the economy needs help. But when inflation is high, or at least worries about it are, the Fed has less leeway to ease rates.

contributed.

Wednesday, March 5, 2025

Trump directs ‘pause’ on US assistance to Ukraine, seeks to pressure Zelenskyy for peace negotiations

By Aamer Madhani, Zeke Miller & Lisa Mascaro

The Associated Press

ASHINGTON—Presi -

Wdent Donald Trump on Monday directed a “pause” to US assistance to Ukraine as he seeks to pressure Ukrainian President Volodymyr Zelenskyy to engage in negotiations to end the war with Russia.

The move comes just days after a disastrous Oval Office meeting in which Trump and Vice President JD Vance laced into Zelenskyy for what they perceived as insufficient gratitude for the more than $180 billion in military aid the US has sent to Kyiv since Russia invaded three years ago.

A White House official said Trump is focused on reaching a peace deal and wants Zelenskyy “committed” to that goal. The official added that the US was “pausing and reviewing” its aid to “ensure that it is contributing to a solution.” The official spoke on condition of anonymity to discuss the assistance.

The order will remain in effect until Trump determines that Ukraine has demonstrated a commitment to peace negotiations with Russia, the official said. The halting of military aid comes some five years after Trump held up congressionally authorized assistance to Ukraine as he sought to pressure Zelenskyy to launch an investigation into Joe Biden, then a Democratic presidential candidate. The moment led to Trump’s first impeachment.

In the leadup to the 2024 election, Trump vowed a quick end to the war in Ukraine, even once boasting that he could bring a halt to the fighting in one day. He has shown increasing frustration with Zelenskyy over the war while simultaneously expressing confidence that Russian President Vladimir Putin, whom he has long admired, can be trusted to keep the peace if a truce is reached.

Trump earlier on Monday slammed Zelenskyy for sug -

gesting that the end of the war likely “is still very, very far away.” Zelenskyy had suggested it would take time to come to an agreement to end the war as he tried to offer a positive take on the US-Ukraine relationship in the aftermath of last week’s White House meeting.

“This is the worst statement that could have been made by Zelenskyy, and America will not put up with it for much longer!”

Trump said in a post on his Truth Social platform, responding to comments Zelenskyy made late Sunday to reporters.

Trump, at a White House event later Monday, referred to Zelenskyy’s reported comments and asserted the Ukrainian leader “better not be right about that.”

Zelenskyy later took to social media in an effort to further explain his thinking. He did not directly refer to Trump’s comments, but underscored that it “is very important that we try to make our diplomacy really substantive to end this war the soonest possible.”

“We need real peace and Ukrainians want it most because the war ruins our cities and towns,” Zelenskyy added. “We lose our people. We need to stop the war and to guarantee security.”

Trump administration and Ukrainian officials had been expected to sign off on a deal during Zelenskyy’s visit last week that would have given the US access to Ukraine’s critical minerals in part to pay back the US for aid it has sent Kyiv since the start of the war. The White House had billed such a pact as a way to tighten US-Ukrainian relations in the long term.

Vance, in an interview with Fox News’ Sean Hannity that aired Monday evening, said European allies were doing Ukraine a disservice by not pressing Zelenskyy to find an endgame to the war.

“A lot of our European friends puff him up,” Vance said. “They say, you know, you’re a freedom fighter. You need to keep fighting forever. Well, fighting forever with what? With whose money, with whose ammunition and with

With Gaza ceasefire in limbo, Israel tries to impose an alternative plan on Hamas

By Joseph Krauss The Associated Press

ISRAEL this week introduced what it said was a new US ceasefire plan—different from the one it agreed to in January— and is trying to force Hamas to accept it by imposing a siege on the Gaza Strip.

Prime Minister Benjamin Netanyahu referred to it as the “Witkoff proposal,” saying it came from US President Donald Trump’s Mideast envoy, Steve Witkoff. But the White House has yet to confirm that, saying only that it supports whatever action Israel takes.

Netanyahu’s remarks came a day after the first phase of the negotiated ceasefire ended, with no clarity on what would come

million tons in the next five years. Currently, up to 12 percent of India’s greenhouse gas emissions come from steelmaking according to the Global Energy Monitor, an organization that tracks energy projects around the globe.

It found this could likely double in five years if more steel is produced as per the government’s plans.

next since the agreement’s second phase has not yet been hammered out.

The new plan would require Hamas to release half its remaining hostages—the militant group’s main bargaining chip—in exchange for a ceasefire extension and a promise to negotiate a lasting truce. Israel made no mention of releasing more Palestinian prisoners—a key component of the first phase.

Hamas has accused Israel of trying to sabotage the existing agreement, which called for the two sides to negotiate the return of the remaining hostages in exchange for more Palestinian prisoners, a full Israeli withdrawal from Gaza and a lasting ceasefire. But no substantive negotiations have been held.

Henna Khadeeja, a research analyst with GEM, explained that unlike China, Europe, or the United States, Indian steelmakers still mostly use coal-based blast furnaces to make steel, which are more high-emitting. In September last year, the Indian government said it would invest $1.72 billion to help the steel industry transition to cleaner methods of steelmaking.

But Khadeeja said all the new steel expansion plans that have been announced are for coal-based steel production

whose lives?”

Democrats said the pausing of aid to Ukraine was dangerous and ill-advised.

Democratic Rep. Brendan Boyle of Pennsylvania, who is co-chair of the Congressional EU Caucus, said the decision “is reckless, indefensible, and a direct threat to our national security.”

The Biden administration provided Kyiv with more than $66.5 billion in military aid and weapons since the war began. It had left unspent about $3.85 billion in congressionally authorized funding to send more weapons to Ukraine from existing US stockpiles—a sum that had not been affected by the foreign aid freeze that Trump put in place when he first took office.

“This aid was approved by Congress on a bipartisan basis— Republicans and Democrats alike recognized that standing with Ukraine is standing for democracy and against Putin’s aggression,” Boyle said in a statement. “Yet, Trump, who has repeatedly praised Putin and undermined our allies, is now playing political games with critical military assistance.”

Democratic Rep. Dan Goldman, who served as counsel to House Democrats in the first impeachment inquiry against Trump, said the pausing of aid was “another extortion” of Zelenskyy.

“This is the exact opposite of peace through strength,” Goldman said. “Instead, what it is it’s another extortion of President Zelenskyy, illegally withholding aid in order to get President Zelenskyy to agree to a minerals deal.”

Trump’s national security adviser said Zelenskyy’s posture during Friday’s Oval Office talks “put up in the air” whether he’s someone the US administration will be able to deal with going forward.

“Is he ready, personally, politically, to move his country towards an end to the fighting?” Mike Waltz said Monday on Fox News’ “America’s Newsroom.” “And can he and will he make the compromises necessary?”

Waltz added another layer of

On Sunday, Israel halted all food, fuel, medicine and other supplies to Gaza’s population of some 2 million people and vowed “additional consequences” if Hamas did not embrace the new proposal.

Arab leaders are meanwhile finalizing a separate plan for postwar Gaza to counter Trump’s suggestion that its population be relocated so it can be transformed into a tourist destination.

But all bets are off if the war resumes.

The existing agreement is in limbo

THE ceasefire reached in January, after more than a year of negotiations mediated by the United States, Egypt and Qatar, laid out a three-phase plan to return all the hostages taken by Hamas on October 7, 2023, and ending the war triggered by the attack.

Hamas-led militants killed some 1,200

See “Gaza,” A9

facilities. “Right now, the focus is mostly on producing as much steel as possible. The strategy is mostly to retroactively decarbonize the steel once the capacity is built in place,” she said.

Cleaning up steel is vital for India’s future BUILDING more coal-based blast furnaces make it more difficult for India to export its steel in the future, particularly to Europe, said Easwaran Narassimhan of the New Delhi-based think tank Sustainable

doubt about US support as other high-profile Trump allies, including House Speaker Mike Johnson and Sen. Lindsey Graham, have suggested that the relationship between Trump and Zelenskyy is becoming untenable.

Angela Stent, a former national intelligence officer for Russia and Eurasia at the National Intelligence Council, said Putin is likely in no rush to end the war amid the fissures between Trump and Zelenskyy and between Europe and the US about the way ahead.

“He thinks Russia is winning.... And he thinks that as time goes on, the West will be more fractured,” said Stent, a senior fellow at the Brookings Institution in Washington.

Trump on Monday suggested he hasn’t given up on the economic pact, calling it “a great deal.” He added that he expected to speak about the deal during his Tuesday address before a joint session of Congress.

Rep. Brian Fitzpatrick, a Pennsylvania Republican who co-chairs the Congressional Ukraine Caucus, spoke with Zelenskyy’s chief of staff, Andriy Yermak, earlier Monday about getting the mineral rights deal back on track.

Key GOP senators also indicated before the announcement of paused aid that they see a path to put US-Ukraine relations back on track.

“We got to lower the temperature,” said Sen. Thom Tillis, R-N.C., “and get to a deal that’s economically beneficial and takes care of our interests as well as the interests of the Ukrainian people.”

Sen. Markwayne Mullin, an Oklahoma Republican who is a close ally of Trump, said he believes the president and Zelenskyy can “move past it.”

“Getting the minerals deal done is a first step,” Mullin said. After that, he said, Zelenskyy needs to be “realistic on what a peace deal looks like.”

The Associated Press writers Tracy Brown, Lolita C. Baldor and Marc Levy contributed to this report.

be heard, saying the world needs to hear it.

“We need men like him who are truly universal and not only one-sided,” Paglia said, speaking after a press conference to launch the annual assembly of his Pontifical Academy for Life, the Vatican’s bioethics academy, which has as this year’s theme “The End of the World?”

Francis wrote a message to the assembly in which he lamented that international organizations are increasingly ineffective to combat the threats facing the world and are being undermined by “short-sighted attitudes concerned with protecting particular and national interests.” It was dated February 26 and signed “from Gemelli Polyclinic.”

Doctors often use noninvasive ventilation to stave off an intubation, or

Futures Collective. The European Carbon Border Adjustment Mechanism, a tax on carbon emissions that Europe will begin charging for all products imported to the bloc from next year, would likely turn off any buyers from steel made with coal-based blast furnaces.

“China’s steel production is less emissions-intensive, which means it’s going to face a lesser impact from European carbon taxes,” said Narassimhan. “Any amount of short-term pain today is going to be worth in the long run.”

Rebels abduct 130 patients from hospitals in Congo amid escalating conflict, UN says

By Mark Banchereau

The Associated Press

DAKAR, SENEGAL —Rwanda-Backed M23 Rebels Abducted At Least 130 Sick And Wounded Men From Two Hospitals In A Major City In Eastern Congo, The United Nations Said Monday.

On February 28, M23 Fighters Raided The Cbca Ndosho Hospital And Heal Africa Hospital In Goma, A Strategic City They Seized Earlier This Year, The U.n. Human Rights Office Spokesperson, Ravina Shamdasani, Said In A Statement.

The Rebels Took 116 Patients From Cbca And 15 Others From Heal Africa They Suspected Of Being Congolese Army Soldiers Or Members Of The Pro-Government Wazalendo Militia.

“It Is Deeply Distressing That M23 Is Snatching Patients From Hospital Beds In Coordinated Raids And Holding Them Incommunicado In Undisclosed Locations,” Shamdasani Said, Calling For Their Immediate Release.

M23 Rebels Have Swept Through Eastern Congo Since The Beginning Of The Year, Seizing Key Cities And Killing Some 3,000 People In The Most Signifi -

the use of invasive mechanical ventilation.

Francis has not been intubated during this hospitalization. It’s not clear if he has provided any advance directives about the limits of his care if he declines or loses consciousness.

Catholic teaching holds that life must be defended from conception until natural death. It insists that chronically ill patients, including those in vegetative states, must receive “ordinary” care such as hydration and nutrition, but “extraordinary” or disproportionate care can be suspended if it is no longer beneficial or is only prolonging a precarious and painful life.

Francis articulated that to a meeting of Paglia’s bioethics body in 2017, saying there was “no obligation to have recourse in all circumstances to every possible remedy.” He added: “It thus makes possible a decision that is morally qualified as withdrawal of ‘overzealous treatment.’” Paglia, whose office helps articulate the

India too has ambitious climate goals and wants to produce 500 gigawatts of clean power—enough to power nearly 300 million Indian homes—by the end of this decade. The South Asian nation recently crossed the milestone of installing 100 gigawatts of solar power, most of which was installed in the last 10 years.

India also aims to go net zero—that is to stop adding planet-warming gas to the atmosphere, either by preventing the emissions in the first place or removing

cant Escalation Of Conflict In Over A Decade. In A Lightning Three-Week Offensive, The M23 Took Control Of Eastern Congo’s Main City Goma And Seized The Second Largest City, Bukavu. The Region Is Rich In Gold And Coltan, A Key Mineral For The Production Of Capacitors Used In Most Consumer Electronics, Such As Laptops And Smartphones.

The Rebels Are Supported By About 4,000 Troops From Neighboring Rwanda, According To U.n. Experts, And At Times Have Vowed To March As Far As Congo’s Capital, Kinshasa, Over 1,000 Miles (1,600 Kilometers) Away. Rwanda Has Accused Congo Of Enlisting Ethnic Hutu Fighters Responsible For The 1994 Genocide In Rwanda Of Minority Tutsis And Moderate Hutus. M23 Says It’s Fighting To Protect Tutsis And Congolese Of Rwandan Origin From Discrimination And Wants To Transform Congo From A Failed State To A Modern One. Analysts Have Called Those Pretexts For Rwanda’s Involvement. At Least 11 People Were Killed And Scores Injured Last Week When Explosions In Bukavu Struck A Rally Held By Leaders Of The M23 Rebel Group.

Catholic Church’s position on end-of-life care, said Francis is like any other Catholic and would follow church teaching if it came to that.

“Today the pope is giving us an extraordinary teaching on fragility,” he added. “Today the pope, not through words but with his body, is reminding all of us, we elderly people to begin with, that we are all fragile and therefore we need to take care of each other.”

Francis’ 17-night hospitalization is by no means reaching the papal record that was set during St. John Paul II’s numerous lengthy hospitalizations over a quarter century. The longest single hospitalization occurred in 1981, when John Paul spent 55 days in Gemelli for a minor operation and then a long infection that followed.

The Associated Press writer Carla K. Johnson contributed from Washington state.

an equivalent amount through natural or technological means—by 2070. Indian steelmakers said they recognize the need to emit less but are apprehensive about how much it’ll cost them. “If you’re not financially viable, you cannot exist as a business,” said Prabodh Acharya, chief sustainability officer at JSW Group, one of India’s biggest steel companies. “Steel is essential for the growth of society and economy. We need to find the right balance between growth, economy and decarbonization,” he said.

M23 rebels enter the center of east Congo’s second-largest city, Bukavu, and take control of the South Kivu province administrative office, Sunday, February 16, 2025. AP/JANVIER BARHAHIGA

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The World

Taiwan says boost in defense spending coming amid China’s ‘escalating threats’

TAIPEI, Taiwan—Taiwan’s defense minister says the island is planning to boost military spending in the face of the “rapidly changing international situation and the escalating threats from adversaries.”

Wellington Koo gave no figures but said President William Lai Ching-te was working with the ministry in consideration of enemy threats and urgent readiness needs, a reference to China’s threats to invade the island, which it considers its own territory.

Those would “increase the proportion of the defense budget in relation to GDP,” Koo said, in comments Monday that were embargoed until Tuesday. Taiwan currently spends about 2.45% of its gross domestic product on its military.

“At the same time, in coordination with national security and foreign policy, the military will continue to deepen cooperation with the United States and other allied nations, expanding multilateral military exchanges to jointly uphold regional peace and stability,” Koo said.

Taiwan sees a growing threat from China, which regularly sends ships and aircraft into areas near Taiwan. China is expected to announce its annual defense budget on Wednesday.

Xinhua, China’s state-run news agency, reported that senior Chi -

nese official Wang Huning during an annual meeting about Taiwan had called for China to take the initiative in cross-strait relations and push toward the “reunification of the motherland.”

The government in Taipei condemned China’s military exercises on Thursday after Beijing designated an area to conduct shooting drills off the self-governed island’s southwest coast.

Along with the latest equipment, the military is seeking funds to increase retention of service people through higher pay, and will need additional funds to accommodate a lengthening of compulsory national service from four months to one year.

United States President Donald Trump has also demanded the selfgoverning island democracy that relies on the US for much of its cutting-edge weaponry, increase defense spending to up to 10% of GDP, a proportion well above what the US or any of its major allies spend.

China’s actions have also unsettled neighbors in the South China Sea and other parts of the Indo-Pacific.

Leaders in Australia and New Zealand also said China should have given them more warning before its navy conducted an unusual series of live fire exercises in the seas between the two countries last month, forcing flights to divert on short notice. AP

More than 200 children raped in Sudan since beginning of 2024, UN children’s agency says

By Fatma Khaled The Associated Press

AIRO—Children in conflict-ravaged

CSudan as young as a year old have been raped since the beginning of 2024, according to the U.N. children’s agency Tuesday, which said sexual violence is being used as a tactic of war.

UNICEF said 221 children, including boys, were raped by armed men, according to records compiled by gender-based violence service providers in the North African nation.

The war in Sudan broke out in April 2023 between the military and its rival paramilitary Rapid Support Forces with battles in Khartoum and around the country. Since then, at least 20,000 people have been killed, though the number is likely far higher. The war has driven more than 14 million people from their homes and pushed parts of the country into famine.

Right groups say that atrocities, including sexual violence and forced child marriages, have been committed by both sides. An estimated 61,800 children have been internally displaced since the war began, UNICEF reported last month.

On Tuesday, the agency reported documented cases involving children who were raped during attacks on cities.

More than 30 percent of the child rape victims were boys, UNICEF said. The victims include 16 children under the age of 5 and four infants. The cases were reported in the states of Gedaref, Kassala, Gezeira, Khartoum, River Nile, Northern State, South Kordofan, North Darfur and West Darfur.

Of the 221 children raped, 73 cases were conflict-related and 71 were not, while the others were unidentified, Tess Ingram, a spokesperson with UNICEF, told The Associated Press.

“In a culture of really serious social stigma and at a time when access to services has been severely hampered, the fact that this group came forward tells us that it is only a small sample,” she said. “It is only the tip of the iceberg of what are undoubtedly hundreds more children who have been raped.”

Survivors are often reluctant to report that they were subject to sexual violence due to social stigma and fear of retribution from armed groups and rejection from family.

willing to do.

people that day, mostly civilians, and took 251 hostage. More than 100 were released in an earlier ceasefire. Israeli forces rescued eight and recovered dozens of bodies before the current ceasefire took hold.

During the first, six-week phase, Hamas released 25 living Israeli hostages and the bodies of eight more in exchange for nearly 2,000 Palestinian prisoners. Israeli forces withdrew from most of Gaza and allowed an influx of desperately needed humanitarian aid. Each side accused the other of violations, but the deal held.

Phase 2 was always going to be far more difficult because it would force Israel to choose between securing the return the hostages and annihilating Hamas—two of Netanyahu’s main war goals. Hamas, which remains in control of Gaza, has said it will only release the remaining hostages if Israel ends the war.

But that would leave the militant group intact and with major influence over the territory, even if it hands over formal power to other Palestinians, as it says it is

EU unveils $841 billion ‘REARM Europe’ to boost defenses amid US uncertainty

By Raf Casert The Associated Press

BRUSSELS—The chief of the European Union’s executive on Tuesday proposed an 800 billion euro ($841 billion) plan to beef up defenses of EU nations to lessen the impact of potential US disengagement and provide Ukraine with military muscle to negotiate with Russia following the freeze of US aid to the embattled nation.

European Commission President

Ursula von der Leyen said the massive “REARM Europe” package will be put to the 27 EU leaders who will meet in Brussels on Thursday

in an emergency meeting following a week of increasing political uncertainty from Washington, where President Donald Trump questioned both his alliance to the continent

and the defense of Ukraine.

“I do not need to describe the grave nature of the threats that we face,” von der Leyen said.

Key to the quandary of EU nations has been an unwillingness to spend much on defense over the past decades as they hid under the US nuclear umbrella and a sluggish economy, which creates challenges for a quick ramp-up of such spending.

Von der Leyen said the first task is to loosen the fiscal constraints the EU puts on budgetary spending to “allow member states to significantly increase their defense expenditures without triggering” punishing rules aimed at keeping deficits from going too far into the red.

“So, if member states would increase their defense spending by 1.5 percent of GDP on average, this could create fiscal space of close to 650 billion euros ($683 billion)

China slaps extra tariffs of up to 15% on imports of major US farm exports, including soy and beef

By The Associated Press

EIJING—China announced

BTuesday it will impose additional tariffs of up to 15 percent on imports of key US farm products, including chicken, pork, soy and beef, and also expanded controls on doing business with key US companies.

The tariffs announced by the Commerce Ministry are due to take effect from March 10, though goods already in transit will be exempt until April 12. They follow US President Donald Trump’s order to raise tariffs on imports of Chinese products to 20 percent across the board. Those took effect on Tuesday.

Imports of US grown chicken, wheat, corn and cotton will face an extra 15 percent tariff, it said. The tariff on sorghum, soybeans, pork, beef, seafoods, fruit, vegetables and dairy products will be increased by 10 percent.

Also Tuesday, Beijing placed 10 more US firms on its unreliable entity list, which would bar them from engaging in China-related import or export activities and from making new investments in the country.

The firms listed are TCOM, Limited Partnership; Stick Rudder Enterprises LLC; Teledyne Brown Engineering; Huntington Ingalls Industries; S3 AeroDefense; Cubic

resume the war.

The new plan favors Israel HAMAS still has 59 hostages, 35 of whom are believed to be dead. Under the socalled Witkoff plan, it would release half the hostages on the first day—apparently without getting anything new in return. The sides would then have around six weeks—through the Muslim holy month of Ramadan and the Jewish Passover holiday ending April 20—to negotiate a permanent ceasefire and the return of the remaining hostages. But with fewer hostages, Hamas’ hand would be weakened, and Israel and the United States are already speaking about new conditions—like the disarmament of Hamas or the exile of its leadership—that were not part of the original agreement. A political lifeline for Netanyahu Netanyahu’s narrow coalition is beholden to far-right allies who want to eliminate Hamas, depopulate Gaza through what they refer to as “voluntary emigration” and rebuild Jewish settlements in the territory. Finance Minister Bezalel Smotrich has threatened to bring down the government if Netanyahu enters Phase 2 of the existing agreement and does not

The new plan would buy Netanyahu six weeks of breathing room and enough time to pass a budget by the end of the month—something he must do to keep his government from automatically falling. If it falls, elections would be held roughly a year and a half ahead of schedule and could see him removed from power.

Opposition parties say they would ensure Netanyahu’s government is not brought down over a deal that returns the rest of the hostages. But that would still weaken him politically.

The American position is unclear NETANYAHU says his government has “fully coordinated” its approach with the Trump administration, which has publicly endorsed Israel’s war goals, including the eradication of Hamas. But Witkoff has not said a word in public about the plan that supposedly bears his name, and US officials did not immediately respond to requests for comment on Monday.

Trump himself has sent mixed signals about Gaza.

As a candidate, he pledged to end wars in the Middle East, and he took credit for pushing the ceasefire agreement past the

Corporation; TextOre; ACT1 Federal; Exovera and Planate Management Group.

Separately, China added 15 US companies to its export control list, including aerospace and defense companies like General Dynamics Land Systems and General Atomics Aeronautical Systems, among others.

“China has decided to include 15 US entities that endanger China’s national security and interests in the export control list, prohibiting the export of dual-use items to them,” the ministry said in a statement.

While the tariffs Beijing has imposed on American farm products are sweeping, China held

back from imposing higher tariffs across the board, and “both sides showed restraint,” said Sun Chenghao, an international relations professor at Beijing’s Tsinghua University.

“The US hopes to get a trade deal with China in the end,” Sun said. “For the long term, it is possible that China and the US will continue to negotiate, but the current atmosphere is not good.”

By raising tariffs, the US has repaid kindness with enmity, Chinese Foreign Ministry spokesperson Lin Jian said.

“I would like to reiterate that the Chinese people have never been afraid of evil, do not believe in ghosts, and have never been

finish line just before his inauguration. But he has also expressed revulsion at Hamas’ treatment of the captives and suggested that “all hell” should break loose if they are not immediately returned, while leaving that decision to Israel.

An Arab counterproposal to Trump’s Gaza plan

TRUMP has also floated the idea of relocating Gaza’s roughly 2 million Palestinians to other countries so the US can rebuild it as a tourist destination. Netanyahu welcomed that proposal, which was universally rejected by Palestinians, Arab countries and human rights experts, who warn it could violate international law.

It’s hard to see how Trump’s Gaza plan would be carried out without Israel resuming the war and launching an even bloodier offensive than the last one, which left much of Gaza in ruins and killed over 48,000 Palestinians, according to local health authorities. They say more than half of those killed were women and children but do not specify how many of the dead were combatants.

Egypt has developed a counterproposal expected to be endorsed at an Arab

over a period of four years,” von der Leyen said. This would be topped up by a loans program of 150 billion euros ($157 billion) to allow member states to invest in defense. She said military equipment that needs to be improved includes air and missile defense, artillery systems, missiles and ammunition, drones and anti-drone systems and cyber preparedness.

Such a plan will force many EU member states to greatly increase their military spending, which is still below 2 percent of gross domestic product. NATO SecretaryGeneral Mark Rutte has told the member states they need to move to more than 3 percent as quickly as possible.

The plan will now be the blueprint for Thursday’s summit, although immediate decisions beyond strong commitments were unlikely.

bullied,” Lin said. China’s is a major importer of American farm products, though its purchases dipped after Trump launched a trade war during his first term in office, and then recovered.

The Commerce Ministry included about two dozen US farm exports subject to additional 15 percent tariffs, including chicken feet and wings, and 711 items subject to an extra 10 percent tariff. In 2021-2022, the United States logged record export values to China for soybeans, corn, beef, chicken meat, tree nuts, and sorghum. Cotton exports to China also rebounded, according to the US Department of Agriculture. US farm exports to China totaled $33.8 billion in fiscal 2023 and $36.4 billion in fiscal 2022. China has been diversifying its sources for farm imports, buying more soybeans from Brazil and Argentina, among other growers. Beijing clearly is prepared to hit back, said Xu Botao, research director of the GoGlobal Institute at EqualOcean, a Shanghai-based Chinese think-tank “The Chinese government and Chinese companies will not be easily frightened and give up resisting unjust trade pressure from the US and other countries,” Xu said.

The end result will depend on how the US side approaches Beijing, analysts said.

“So far, the US hasn’t sent a positive signal. If the US wants to talk, it should not damage the atmosphere,” Sun said.

summit in Cairo on Tuesday. Under its plan, Palestinians would remain in Gaza and relocate to “safe zones” while cities are rebuilt. Hamas would hand over power to a transitional authority of political independents while the international community works to empower the Westernbacked Palestinian Authority.

But Israel, which has ruled out any role for the Palestinian Authority in postwar Gaza, is unlikely to accept such a plan. And while Trump has called on Arab countries to come up with their own proposal, it’s

CHICKENS roam in a fenced pasture at an organic farm in Iowa on October 21, 2015. AP/CHARLIE NEIBERGALL

Urgent policy reforms needed to address rising food prices

LOCAL policymakers should accept the fact that the era of cheap food is over and based on developments in the local and international fronts, it is never coming back. The inflation print of the country has been elevated in recent years mainly due to expensive food. And food items that have seen price spikes are those that are usually consumed by the majority of Filipinos.

After Russia invaded Ukraine, the prices of a number of food items particularly those that require imported fertilizer rose to unprecedented levels. Foremost of these agricultural products is rice, which has become more expensive despite the entry of huge volumes of imports after the Rice Tariffication Law took effect in 2019. Even crops that used to be relatively cheap like onions and vegetables have now become less accessible to the so-called Bottom 30 of the population.

These price spikes served as impetus for the Executive branch and Congress to also consider a suggested retail price (SRP) for other food items. (See, “House panel keen on SRP for essential food products,” BusinessMirror , March 3, 2025). Aside from rice, the House Murang Pagkain Supercommittee or Quinta Comm also wants an SRP for chicken, pork, fish and vegetables. The government has already imposed a maximum SRP for imported rice in its bid to reduce retail prices.

While the SRP scheme for basic food items could help prevent unscrupulous traders from raising prices further for now, it does not address the root causes of the spike in food prices. These traders are well aware of inefficiencies in the value and supply chains, which they have exploited for so many years. And the imposition of these SRPs will do little to improve the access of consumers to affordable food, particularly if the government fails to make the necessary investments in boosting agricultural productivity and reducing logistics cost.

Gaps or problems in the production and marketing of basic food items have already been identified in some of the roadmaps that the government has prepared in recent years. Some of these roadmaps even had inputs from the private sector, which suggested possible interventions that the government can undertake to achieve production efficiency. If these are not enough or did not pinpoint the real problems, then it is incumbent upon the current administration to reassess the local farm sector’s situation and implement the necessary measures that will remove obstacles that hinder its growth.

This reassessment should be done immediately as the term of the current administration will end in three years. Tweaks in strategies should be made as soon as possible given the threat of extreme weather events, which have been largely responsible for the drastic decline in rice production, according to official government data. Sans a coherent strategy for improving agricultural production and farmers’ access to markets through the construction of more farm-to-market roads, consumers will continue to pay more for basic food items.

New transportation chief

TTHE BUILDER

HE appointment of Vince Dizon as the country’s new transportation chief has sparked widespread optimism. I, for one, have high hopes that Secretary Dizon will excel in leading the Department of Transportation (DOTr) and effectively carry out the directives of President Ferdinand Marcos Jr. Having had the pleasure of working with him in the past, I can confidently attest to his dedication and strong work ethic, which gives me every reason to believe he will rise to the challenge.

The plight of commuters wading through traffic jams daily in Metro Manila and other urban centers in the Philippines clearly will not please any leader. President Marcos may have seen enough and he wants pragmatic and speedy solutions to the traffic chaos.

Transportation in the Philippines faces an aging infrastructure and is beset with delayed projects and inefficient routes that increase costs, limit mobility and hold back economic progress.

Dizon received orders from President Marcos to “fast-track” big-ticket transportation projects, including the Metro Manila Subway project and the North-South Commuter Railway System, considered “game-changers” for the commuting public.

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For starters, Dizon ordered the creation of a Flagship Project Management Office (FPMO) to accelerate the implementation of major public transportation projects following President Marcos’ directive to ease commuter woes.

The priority projects under the FPMO’s supervision are the Metro Manila Subway Project, North-South Commuter Railway, Edsa Busway, Edsa Greenways, Cebu Bus Rapid Transit and Davao Public Transport Modernization Project.

Dizon’s job may be daunting and he may not finish these transportation projects within the term of the current administration. Nonetheless, Dizon is acting his job and one can sense that he will perform with dispatch despite the limited time.

Says Dizon: “I will head (FPMO). I will personally focus on these projects and these will be guided by very strict timelines. So, we will impose deadlines for these projects.”

Transportation projects along with new roads are the most strategic actions that can decongest traffic in urban centers. They speed up the mobility of commuters and reduce the pollution generated by slowmoving vehicles.

Railways, for one, provide a faster way of moving people from their

Indonesia’s nickel boom

By Eddie Spence

INDONESIA’S sprawling nickel industry is creaking under the weight of its own success, as a production surge drags down prices and a shortage of ore forces even the country’s own smelters to curb output.

The Southeast Asian nation’s metal boom over the past decade has convulsed the industry, catching many off-guard with its speed and scale. Cheap coal-based power and Chinese technology that makes the most of bountiful low-grade reserves have helped Indonesia to control more than half of the world’s nickel production—a win for Jakarta governments eager to boost manufacturing.

The surge prompted a two-year price plunge that has crippled global rivals. With the metal now

languishing near its lowest levels since 2020, the effects are now being felt at home, too. Weaker-thanexpected demand from key markets like China and ore shortages are adding to the pain in the country’s smelting sector.

“Previously everyone was getting two-year paybacks on their smelting investments,” said Jim Lennon, a veteran metals analyst at Macquarie Group Ltd. “There’s no money in the industry for them now.”

PT Gunbuster Nickel Industry —one of Indonesia’s largest smelt -

Dizon received orders from President Marcos to “fast-track” bigticket transportation projects, including the Metro Manila Subway project and the North-South Commuter Railway System, considered “game-changers” for the commuting public.

homes to their workplaces. Major railway projects under DOTr’s supervision include the ongoing Metro Manila Subway, North-South Commuter Railway (NSCR), MRT-7, LRT1 Cavite Extension, Unified Grand Central Station and MRT-3 Rehabilitation. In the pipeline are the Mindanao Railway Project, MRT-4 and PNR South Long Haul.

Other non-rail projects in the pipeline are the New Cebu International Container Port and the Manila Bay-Pasig River-Laguna Lake Ferry River System Project.

The new transportation chief, meanwhile, is prioritizing the safety and comfort of passengers using the EDSA Busway system. This is one way of improving the travel experience of our Filipino commuters.

The EDSA Busway Project includes the construction of enhanced bus stations, operations control centers and parking depots, and the purchase, operations and maintenance of a high-capacity busway plying through EDSA and other major and feeder roads.

There is a need to improve the existing Edsa Carousel to address the high demand for transportation services along Edsa and feeder roads by increasing capacity and service reliability.

The DOTr plans to transform the EDSA Busway into a modern and ef-

The surge prompted a two-year price plunge that has crippled global rivals. With the metal now languishing near its lowest levels since 2020, the effects are now being felt at home, too. Weakerthan-expected demand from key markets like China and ore shortages are adding to the pain in the country’s smelting sector.

ers with more than 20 production lines for nickel pig iron, a precursor for stainless steel—has delayed payments to suppliers and is close to shutting down completely amid the collapse of its Chinese parent Jiangsu Delong Nickel Industry Co., Bloomberg reported last month. Gunbuster said in a statement last week that its operations continue

ficient transport system within the next few years.

Right-of-way issues are another pestering problem that impedes the speedy completion of transportation projects. The DOTr, like the Department of Public Works and Highways, cannot solve this problem alone. It needs the support of other agencies and local government units, or a whole of government or whole of society approach.

The traffic in Metro Manila alone is a complex problem. The traffic congestion stems from lack of mass transportation system and wider roads, and the uninterrupted migration of workers from the provinces.

Increasing vehicle sales in the Philippines are further limiting the capacities of the roads in Metro Manila. As I’ve mentioned in my last column, the highly urbanized cities of Davao, Cebu and Baguio also suffer from congested roads that restrict the movement of motorists, travelers, businessmen, traders and consumers.

The congestion underscores the need to expedite the completion of flagship infrastructure projects, including railways, subways, expressways and inter-island bridges. But the Philippines is not alone in dealing with monstrous traffic jams. Indonesia, Thailand and other Asian countries are experiencing the same predicament.

President Marcos is very much aware of the notorious traffic congestion. He picked Dizon to provide realistic and sensible solutions to ease the discomfort of our Filipino commuters.

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

to run as normal during “changes in operational management.” It did not elaborate. In Java, Indonesia’s most populous island, several smaller smelters have cut production to minimal levels or stopped altogether, according to a person familiar with the matter. The plants, hundreds of miles from the nickel mining heartland of Sulawesi, face additional costs to ship in ore. But even facilities near mines are facing difficulties, including those in the massive purpose-built industrial parks run by China’s Tsingshan Holding Group Co., the

Mark Villar

China, India obesity problems driving global surge, study says

By Amber Tong

CHINA, India and the US will have the world’s largest populations of adults living with overweight and obesity by 2050, according to new research that highlights the global public health crisis and the potential for colossal economic losses.

Without drastic intervention, 3.80 billion adults over the age of 25 years will have overweight and obesity around the world by 2050 compared to 2.11 billion in 2021, researchers wrote in a paper published Tuesday in The Lancet, noting how that will be more than half of the likely global adult population at that time.

Overweight and obesity are tied to higher risks of diabetes, cardiovascular diseases and certain cancers. The increased disease burdens could translate into “staggering” economic ramifications, the researchers wrote, citing both direct healthcare costs and indirect loss in productivity.

Forecasts suggest that, by 2035, the obesity epidemic could lead to a 2.9 percent reduction in global gross domestic product, equating to a loss of $4 trillion.

Around 627 million Chinese adults are projected to be overweight or obese by 2050, followed by 450 million in India, and 214 million in the US—up from 402 million, 180 million and 172 million, respectively, in 2021. Sub-Saharan Africa, on the other hand, will account for the largest percentage increase in overweight and obese individuals—with the population forecast to jump by about 255 percent.

On top of that, 746 million children and adolescents worldwide— or a third of that population—are projected to live with overweight or obesity by 2050, according to a second study.

The researchers, who comprise a large consortium across Africa, Asia, Europe, New Zealand and the

Indonesia . . .

continued from A10

post-tax impairment.

The current state of affairs is a far cry from just a few years ago, when Indonesia banned the export of ore and lavished firms with tax holidays to build up a domestic smelting industry. The breakneck expansion— driven almost entirely by Chinese companies—was touted as a winning push to turn the country’s natural resources into higher value exports, dubbed “downstreaming.”

While the policies did boost Indonesia’s export earnings and created thousands of jobs, the surge in processing capacity has far outpaced demand for nickel. The country is now looking to curb its mine supply in an effort to support the market— a move with grave consequences for producers.

“More than half of the nickel pig iron furnaces are not making money or are losing money,” said Macquarie’s Lennon. “If you have got a smaller furnace and have to buy your ore, you are not making money.”

Around 627 million Chinese adults are projected to be overweight or obese by 2050, followed by 450 million in India, and 214 million in the US—up from 402 million, 180 million and 172 million, respectively, in 2021. Sub-Saharan Africa, on the other hand, will account for the largest percentage increase in overweight and obese individuals— with the population forecast to jump by about 255 percent.

US, made estimates based on existing data from 1990 to 2021 on body-mass index. The projected surge underscores the urgent need for preventative measures on multiple fronts, including changes in policies affecting food supply , built environments and lifestyle choices, they wrote.

In recent years, new pharmaceutical treatments for obesity—particularly so-called GLP-1 drugs from Novo Nordisk A/S and Eli Lilly & Co —became a global phenomenon and commanded huge windfalls for their unprecedented ability to spur weight loss and mitigate other conditions tied to obesity. But the researchers said drugs alone are unlikely to be a sufficient remedy.

“Although new generation antiobesity medications appear promising, tactful, whole-system, public health strategies will continue to be crucial to achieving widespread and sustainable impact,” they wrote. Bloomberg

The rush to invest in the Indonesia nickel sector was spurred on by the rise of electric vehicles, which need nickel for high-performance batteries. But advances made by Chinese firms have seen the metal being displaced by cheaper battery chemistries, in particular those based on lithium iron phosphate.

Meanwhile consumption by the stainless steel sector, the biggest source of nickel demand, is still attempting to turn the corner after suffering through China’s prolonged property slump. Without a sustained increase in appetite— perhaps driven by stimulus from Beijing—Indonesia’s smelters face more pain this year.

“There are some bright spots for demand in the stainless steel market, but nickel batteries are losing market share in the electric vehicle market,” Dan Smith, head of research at Amalgamated Metal Trading Ltd., wrote in a note, predicting bearish pressure ahead for at least the next six months. “There is more pain to come for producers before the market rebalances.” With assistance from Alfred Cang /Bloomberg

Rubio move failed to protect life-saving aid, USAID official says

By Iain Marlow

EVEN as President Donald Trump froze foreign aid and began dismantling the US Agency for International Development, his top diplomat Marco Rubio promised that waivers would ensure that “life-saving” assistance continued.

But a senior USAID official said in a memo that the secretary of state’s efforts to exempt crucial humanitarian aid “was not possible due to administrative and bureaucratic challenges” erected by political appointees, leading to preventable deaths and national security threats on a “massive scale.”

The memo dated February 28 from Nicholas Enrich, an acting assistant secretary for global health at USAID, asserted that the challenges were a result of new “political leadership” at the agency, as well as at the State Department, which oversees it, and billionaire Elon Musk’s Department of Government Efficiency.

These political appointees refused to pay for aid projects, blocked and restricted access to the agency’s payment system, repeatedly changed guidance for what constitutes “lifesaving” aid and placed thousands of employees on administrative leave, he wrote.

The memo adds to criticism from foreign aid organizations that the Trump administration’s broader crackdown on USAID, which managed $43 billion of foreign aid in 2023, could lead to a humanitarian catastrophe as crucial food relief, medical programs, clinical trials and aid projects are canceled around the world.

“These actions individually and in combination have resulted in the US government’s failure to implement critical lifesaving activities,” Enrich wrote. “This will no doubt result in preventable death, destabilization, and threats to national security on a massive scale.”

The State Department didn’t reply to a request for comment on Monday. Enrich’s letter was reported earlier by the Washington Post, and he told the New York Times that he released the memo on Sunday after receiving an email placing him on leave.

Rubio, who once called USAID

“critical to our national security,” has repeatedly defended the crackdown on the agency by saying it had gone rogue and wasted taxpayer money.

When asked about ending programs that could lead to deaths, he’s consistently cited the waiver process, arguing in February that these had “allowed all these lifesaving programs to continue.”

“We’re not walking away from foreign aid, we are walking away from foreign aid that’s dumb, that’s stupid, that wastes American taxpayer money,” Rubio said on a radio show on February 10. “We’re just not going to continue to do those.”

According to Enrich’s memo, some programs were given waivers and then canceled anyway, while other crucial life-saving programs related to malaria, tuberculosis and ebola were canceled in a massive culling of more than 5,000 USAID awards on February 26—with one senior official later saying some projects may have been canceled “in error.” He said he identified 72 lifesaving activities in the global health bureau that should have received waivers, but weren’t approved and got no payments, “fully preventing their implementation.”

At the same time, Enrich contended that members of Musk’s DOGE

Trump keeps door open to Ukraine deal with Europe now optimistic

By Akayla Gardner, Ellen Milligan, Alex Wickham & Samy Adghirni

PRESIDENT Donald Trump kept the door open to signing a minerals deal with Ukraine despite his feud last week with President Volodymyr Zelenskyy, adding to hope in European capitals that the agreement can be salvaged.

“It’s a great deal for us,” Trump told reporters Monday, adding that “I’ll let you know tomorrow,” when he addresses a joint session of Congress. He said Zelenskyy “should be more appreciative” of the billions in US assistance his country has received to fight Russia’s invasion.

Trump’s relatively optimistic assessment could revive prospects for the deal, which Zelenskyy had flown to the US to sign but was scrapped after an Oval Office meeting between the leaders—as well as US Vice President JD Vance—descended into testy exchanges.

Trump’s latest comments also tracked with hopes shared by the UK and France that the two sides can reconcile, signing a deal on critical minerals and then beginning peace talks. Leaders Keir Starmer and Emmanuel Macron are drawing-up a temporary ceasefire proposal to present to Trump that will allow detailed talks for a durable long-term peace plan to start, three years on from Russia’s full-scale invasion of Ukraine.

Their cautious optimism, based on private conversations between the leaders and other members of the US administration, stems from their belief that Trump is trying to mount pressure on Zelenskyy to apologize and sign the minerals agreement, according to people familiar with the matter who asked not to be identified discussing the deliberations.

The UK and France are privately urging Zelenskyy to repair relations with Trump and believe the US leader

is still committed to a peace deal, they said. European allies believe that Zelenskyy may need to grovel to Trump because a simple apology is unlikely to suffice, one of the people said.

The UK-France plan involves an initial truce between Russia and Ukraine to allow allies to work on a durable peace plan with a coalition of European troops backed by US security guarantees. It would also allow time to see whether Russia is serious about ending its aggression toward Ukraine, the people said.

Challenges remain. Earlier Monday, Zelenskyy expressed a willingness to meet with Trump again, despite Friday’s open confrontation at the White House, if the US president invites him for a “serious” encounter.

But Zelenskyy also was quoted as predicting that the end of Ukraine’s war with Russia is “very, very far away.”

“This is the worst statement that could have been made by Zelenskyy, and America will not put up with it for much longer!” Trump said in a social media post. He said “this guy doesn’t want there to be Peace as long as he has America’s backing and, Europe, in the meeting they had with Zelenskyy, stated flatly that they cannot do the job without the US —Probably not a great statement to have been made in terms of a show of strength against Russia. What are they thinking?”

In yet another of their exchange of posts, Zelenskyy responded: “Ukraine, Europe, the United States—only together can we restore security for all our people, and

Trump’s relatively optimistic assessment could revive prospects for the deal, which Zelenskyy had flown to the US to sign but was scrapped after an Oval Office meeting between the leaders—as well as US Vice President JD Vance—descended into testy exchanges.

this is really possible.”

Zelenskyy’s clash in the Oval Office on Friday with Trump and Vance left attempts to keep the US administration on Kyiv’s side in tatters. It also set off a scramble among Europeans to get the two leaders back to the table as they tried to demonstrate broad support for Ukraine at a security summit in London.

“We are worthy of an equal dialog,” Zelenskyy said on Sunday after attending the summit. If the US president invites him “for a constructive dialog, to solve real problems, for serious issues and real, decisive actions and answers—I will arrive,” he said.

Despite Zelenskyy’s defiant tone, he said that his country was ready to accept a natural resources deal with the US. The accord was left unsigned after the Oval Office bust-up that marked the most serious crisis between Ukraine and its biggest military supporter since Russia’s invasion.

Holding such a conversation in public wasn’t a good thing for either the US or Ukraine, the Ukrainian president said, declining a reporter’s request to switch to English to avoid any misinterpretation. But in a clear attempt to turn the page on the dispute, he added: “I am convinced that the situation will pass and more important things are ahead.”

Zelenskyy has repeatedly argued that Russia can’t be trusted to respect the terms of a potential truce unless

Trump’s blowup with Zelenskyy spurs Taiwan to rethink US tactics

By Yian Lee

RESIDENT Donald

PTrump’s heated meeting with Ukraine’s leader has prompted Taiwan to start rethinking how it deals with the US, according to Taipei’s top defense official. “We have deeply recognized that one cannot discuss values without also addressing national interests,” Defense Minister Wellington Koo said at a media briefing on Monday, just before Trump ordered a pause to

all military aid to Ukraine. In remarks that referenced Trump and aggression from China’s armed forces, Koo said that “facing the rapidly changing international situation and escalating threats from the enemy, we cannot rely on the goodwill of others to maintain peace.” The comments show the urgency confronting security officials in Taipei and other places that rely on US military backing to counter Beijing, including Japan, South Korea and the Philip -

pines. They’ll have to work out new strategies for dealing with the US leader after witnessing the stunning Oval Office blowup with President Volodymyr Zelenskyy.

Highlighting the seriousness of their concerns, on Tuesday, Bloomberg reported that the US is pausing all current military aid to Ukraine until Trump determines the country’s leaders demonstrate a good-faith commitment to peace.

Following Russia’s full-scale invasion of Ukraine in 2022, Taiwan

appealed to democracies around the world to help it stand up to China, which wants to bring the democracy of 23 million people just off its shores under its control someday, by force if necessary. While Taiwan may continue that campaign, Koo’s comments suggest it will also search for more concrete ways to ensure it has America’s backing. Taiwan has already announced it will step up military spending as a share of its economic output after Trump’s prodding, and has said it could buy

team ordered USAID experts to stop reviewing programs and projects before they were terminated—arguing that this was slowing down the systematic canceling of foreign aid contracts and awards.

Since taking office, Trump’s team has undertaken a sweeping assault on US assistance, ordering a 90-day freeze on foreign aid, a stop-work order for projects globally and a review of foreign assistance that has seen a termination of about 90 percent of all foreign aid contracts. With almost 10,000 staff before the cuts, USAID has put more than 4,000 employees on administrative leave, dismissed more than 1,600 and has initiated a process to recall staff posted overseas.

At the same time, many of USAID’s largest implementing partners—which bid for and execute many of the agency’s aid projects globally—are in court trying to get paid for work that’s already done.

These organizations have furloughed thousands of employees in the US and say the lack of payments mean they will need to terminate thousands of employees working on projects overseas, which could leave the organizations at risk of lawsuits from staff and vendors. Bloomberg

more American energy and agricultural products and weapons to cut into its trade surplus with the US, which hit a record last year.

And on Monday, Taiwan’s biggest company, Taiwan Semiconductor Manufacturing Co., announced plans that support Trump’s goal of increasing domestic manufacturing, saying it would invest an additional $100 billion in US plants that will boost its chip output on American soil.

China has been ramping up its campaign of intimidation against

it’s backed by security guarantees from western allies. Last month, he said he provided Trump with a list of 25 ceasefires that Moscow broke since its initial invasion of Ukraine in 2014.

European leaders led by Prime Minister Starmer and President Macron spent the weekend in a diplomatic whirlwind as they tried to mend the break with the US. They also fast-tracked efforts to improve their own defense capabilities in the wake of Trump’s outreach to Russian President Vladimir Putin to end the war in Ukraine—potentially over their heads.

The UK and France are seeking to build what Starmer called a “coalition of the willing” to participate in a peacekeeping force and help reassure Kyiv about the durability of any peace. Britain, France and “one or two” other countries will work with Ukraine on a “plan to stop the fighting,” Starmer said Sunday.  Macron told Le Figaro newspaper after the gathering that the EU should provide €200 billion ($208 billion) to boost its military capabilities, a topic that will be discussed by leaders at an emergency summit in Brussels on March 6.

Kremlin responds THE Kremlin, in its first official response, said on Monday that the “unprecedented” flare-up at the White House between Trump and Zelenskyy showed that Western unity is starting to fall apart.

Zelenskyy’s stance means it will be much harder to reach a settlement of the Ukraine conflict, said Putin’s spokesman, Dmitry Peskov, according to Interfax. “The Kyiv regime and Zelenskyy do not want peace, they want the continuation of the war,” he said. With assistance from Aliaksandr Kudrytski and Piotr Skolimowski /Bloomberg

Taiwan since President Lai Chingte took office in May last year, most notably by holding several rounds of major military drills in nearby waters. Last week it used tougher new language that signaled more intimidation tactics were on the way, while also launching a smaller set of exercises.

Koo said the latest maneuvers showed the Chinese military was “the major destabilizing factor and the trouble maker in the Indo-Pacific region.” Bloomberg

At SC orals on fund transfer, PhilHealth overhaul pitched

By Joel R. San Juan @jrsanjuan1573

ANAssociate Justice of the Supreme Court (SC) on Tuesday suggested an overhaul of the Philippine Health Insurance Corporation (PhilHealth) for its failure to fully utilize government subsidies to expand the health benefits of its indirect contributors.

During the third round of the oral argument on the petitions questioning the constitutionality of the PhilHealth fund transfer, Associate Justice Antonio Kho Jr. grilled Department of Finance (DOF) Deputy Treasurer Eduardo Anthony Mariño III and Department of Health Assistant Secretary Dr. Albert Domingo on determining the unutilized funds of the PhilHealth and the basis for transferring the money to the national treasury.

ter Mariño admitted that the P89.9billion excess funds represent the excess subsidies of PhilHealth from 2021 to 2023.

Mariño cited PhilHealth’s “structural absorptive capacity issue” that led to the accumulation of its excess funds and the decision of the government to order its transfer back to the national treasury.

Justice Kho then asked why PhilHealth is not expanding its benefits and programs that would approximate the subsidies given to the agency to address issues on health benefits of the people.

the supply side issues—these also can be addressed by government,” he said.

“You’re getting money from PhilHealth and telling us that PhilHealth lacks absorptive capacity? But the reason why it lacks absorptive capacity [is]v because it doesn’t get full support from government...So you’re just providing [an] excuse to get this money out of PhilHealth,” Kho pointed out.

“The fact that PhilHealth could not spend this amount for benefits and the national government will take this amount to fund unprogrammed expenditures, the fault is on PhilHealth for not spending this. It is not for the government to take this away—and for PhilHealth to expand its program so that the subsidies that were allocated by government for healthcare should not be taken away,” Justice Kho told Mariño.

In response, Mariño explained that the benefits and expansion of benefits are just a part of the consideration to accomplish the objectives of the Universal Health Care Act.

“Instead of...the national government directing PhilHealth to spend the money for the benefit of the people, you took it away and gave it to others. This is precisely the meat of this case,” Kho added. Justice Kho made the comment af-

DOLE tells employers: Adopt heat-safety steps ahead of summer

By Justine Xyrah Garcia

THE Department of Labor and Employment (DOLE)

is calling on employers to implement preventive measures against extreme heat as temperatures continue to rise ahead of the official summer season.

In a text message, Labor Secretary Bienvenido E. Laguesma reminded companies of Labor Advisory No. 8, issued in April 2023, which outlines steps to protect workers from heatrelated risks.

“If you recall, we issued an advisory on this matter in April 2023... We are reiterating our appeal for employers to comply with it to safeguard the health and safety of workers,” Laguesma said. Under the advisory, employers must assess workers’ risk of heat exposure, particularly those with preexisting conditions like hypertension and kidney disease, and implement necessary control measures.

These include improving workplace ventilation, adjusting work breaks or locations to allow heat recovery, and providing protective gear such as light long-sleeved clothing, hats, and UV-protective goggles.

Companies are also required to ensure access to free drinking water and conduct information campaigns on heat stress symptoms and prevention.

Additionally, workplaces must establish emergency protocols to address heat-related incidents.

Employers and workers may also agree to adopt flexible work arrangements to limit exposure to extreme heat and strenuous activities.

This can involve adjusting work hours while maintaining the required total number of hours per day or week until weather conditions improve.

While the country has yet to officially enter the summer season, Laguesma stressed the importance of early intervention to avoid health risks and operational disruptions.

“[This is] very important in order to prevent untoward incidents that

will adversely affect not just the workers but the continued operations of the company itself. Even if the onset of summer season is not yet officially with us, proactive and preventive measures are always better than reactive ones,” he added.

How about informal workers?

HOWEVER , for Kilusang Mayo Uno Secretary General Jerome Adonis, DOLE’s advisory falls short of addressing the risks posed by extreme heat.

“The Labor Advisory 08-23 is insufficient in protecting workers against heat stress. It does not cover informal and platform workers, and it lacks mechanisms to penalize employers who fail to comply,” Adonis said, emphasizing that employers who fail to comply should face strict penalties.

He added that the government should be held accountable for its “pro-business and pro-foreigner” policies that allow mining, illegal logging, and reclamation, as these are major contributors to climate change.

The World Meteorological Organization earlier confirmed that 2024 was the warmest year on record, with global temperatures exceeding the 1850 to 1900 average by more than 1.5 degrees Celsius. It also reported that ocean warming had reached unprecedented levels, with temperatures rising even in the upper 2,000 meters—an alarming trend that contributed to last year’s extreme heat.

The DOF official added that the government also has to address the “supply side issues” such as the insufficiency of the compensation for healthcare workers, hospitals or healthcare facilities, medical equipment. Kho, however, was unconvinced, saying that Mariño was just providing an excuse to justify the transfer of PhilHealth’s excess funds.

“Sorry, these things that you mentioned—of absorptive of capacity,

DOH defends fund transfer MEANWHILE, DOH’s Domingo told the Court that if the transfer of PhilHealth’s idle fund to the Bureau of Treasury is allowed to proceed, it will serve as a “strong signal” for the state health insurer to improve its services and maximize the benefits available to its members.

Domingo said this in response to Kho’s suggestion to “overhaul” PhilHealth and change its board for not complying with what the law requires.

“It’s the fault of the PhilHealth board, let’s not make people suffer because the money is there. The money is there,” Kho said. In response, Domingo told the Court :

ALC Group of Companies Chairman D. Edgard A. Cabangon was recognized as “Asia’s Visionary Business Leader” at the Asia’s Influential Leader Awards, held on February 28, 2025, at the Grand Ballroom of Okada Manila. The prestigious award celebrates influential figures who have made a significant impact in their respective industries, recognizing Cabangon’s leadership, innovation, and dedication to business

growth as the ALC Group continues to expand and evolve. When asked about his inspiration, Cabangon shared, “It’s because of Dad. It’s for Dad.” He emphasized that he and the Cabangon family remain committed to continuing the legacy of his father, Ambassador Antonio L. Cabangon Chua. He also extended his gratitude to the employees of the ALC Group, whom he regards as “our partners in

Comelec: Educate, don’t hate uninformed voters

THE Commission on Elections on Tuesday reminded the public not to criticize voters, especially the youth, for their lack of awareness about societal issues.

While the situation is concerning, Comelec Chairman George Erwin M. Garcia emphasized that young voters should not be blamed for it.

“Voter education is really the key...We need to expand our understanding, be patient with them, and explain why these issues matter,” he said, partly in Filipino. Garcia also believes young voters remain “teachable” and are capable of electing the right leaders.

The poll chief’s statement came after noontime show contestant

Heart Aquino—who admitted on live television that she knew little about Comelec—visited the poll body’s main office Tuesday afternoon.

Garcia personally invited Aquino to better understand the commission’s role and functions. The 20-year-old was given a tour of Comelec headquarters.

“I now have a deeper understanding of what Comelec really stands for. I also encourage others to learn more about its work,” she said in a media interview after her visit.

As part of the second-largest voting generation in the upcoming elections, Aquino urged fellow young voters to be more informed and socially aware.

“Let’s vote wisely and take time

to know our candidates...This is for our own future. That’s what I realized—we shouldn’t ignore what’s happening around us,” she said.

Aquino also clarified that she had some knowledge of Comelec but admitted she wasn’t fully aware of its duties.

She explained that she rarely had time to watch the news or read up on current events as she was focused on supporting her family. She also pleaded with netizens to stop bashing her, stressing that people often fail to realize how such attacks affect those on the

ceiving end.

as a youth ambassador for its

“We want to show that the

SACRED

ASIA’S Influential Leader Awards Chairman, Dr. Ronnel Ybañez (left), presents the “Asia’s Visionary Business Leader” award to ALC Group Chairman D. Edgard A. Cabangon (right), recognizing his outstanding leadership and commitment to business excellence.

Editor: Jennifer A. Ng

Petron ‘24 income declines on volatile global oil prices

By Lenie Lectura @llectura

PETRON Corp.’s earnings fell to P8.47 billion last year mainly due to the challenges faced by its Malaysian business and volatile global oil prices.

On Tuesday, the country’s oil refiner reported that its net income declined by 16 percent year-on-year.

It said Petron Malaysia faced challenges due to policy changes in fuel subsidies, while a shutdown in Port Dickson refinery for maintenance in the fourth quarter of 2024 limited production and exports.

Consolidated sales volume grew 10 percent to 139.85 million barrels, driven by higher demand and strategic growth initiatives. Petron’s Philippine operations and Singapore trading subsidiary led this growth, with combined sales reaching 92.49 million barrels, a 16-percent jump from 2023, supported by network expansion and strong marketing efforts.

cent. Despite the headwinds, Petron said it remained profitable as it posted an operating income of P29.22 billion, almost unchanged from P30.72 billion in 2023.

B1

At the same time, Petron said global oil prices remained volatile, driven by geopolitical conflicts in the Middle East and weakened demand from China. While Dubai crude averaged $80 per barrel, prices peaked at $89 in April before dropping to $73 by year-end, putting pressure on regional refining margins.

Based on data from the Department of Energy (DOE), Petron grew its market share as the leading oil company in the Philippines to 24.9 percent in the first half of 2024, up from 23.1 percent at the end of 2023, while maintaining its dominance in the liquefied petroleum gas sector with a 25.5 percent share.

Revenues increased by 8 percent to P867.97 billion last year.

Retail sales rose 18 percent while commercial sales increased six per-

“These results demonstrate our ability to adapt to market conditions while strengthening our leadership,” said Petron President Ramon S. Ang. “With the continued support of our customers, employees, and partners, we remain focused on sustainable growth and contributing to our country’s economic progress.”

Meanwhile, Petron’s board of directors gave the green light for the issuance of up to P25 billion worth of retail bonds under the shelf registration window. The planned public offer and peso retail bond offer carry an oversubscription option of up to P7 billion.

Meralco seals pact with Kepco

THE Manila Electric Co. (Meralco) and the Korea Electric Power Corp. (Kepco) are collaborating to accelerate the adoption of “cutting-edge” technologies in the Philippine energy industry.

The two companies signed a memorandum of understanding (MOU) to foster technical cooperation and exchange programs in the field of new energy technology. These include nuclear energy, renewable energy, smart grids, micro grids, energy storage systems, electric vehicles, advanced metering infrastructure, smart substations, and distribution automation.

“This memorandum of under -

RLC unit to build hotel in Panglao

ROBINSONS Hotels and Resorts (RHR), a unit of Robinsons Land Corp. (RLC), said it is bullish on expanding its upscale development called Grand Summit hotel brand in Panglao, Bohol.

The 7,737-square meter, 200-room beachfront development is set to provide a family-friendly resort with architectural and interior designs inspired by the biodiversity of Bohol, the company said.

“We are excited to welcome guests to Grand Summit Panglao to support the booming tourism sector’s call for a quality upscale hotel brand,” Barun Jolly, RHR’s senior vice president and business unit general manager, said.

Marked as the fourth Grand Summit brand in the Philippines, the property is positioned to be the contemporary resort hotel for local and international travelers. It has an all-day dining, specialty restaurant, gym and spa and kid’s play area. Based on the Department of Tourism data, Panglao more than doubled its overnight travelers in 2023. With the expansion of the Bohol-Panglao International Airport and a significant growth in post-pandemic tourist arrivals, Panglao ranked second in the 2024 Philippine Accommodation Pipeline by Leechiu Property Consultants.

It said guests can opt to explore the corals or enjoy a dip in the pool, have a feast in the Filipino and specialty restaurants, relax in the spa with a traditional massage, work out in a well-equipped gym, or celebrate important milestones in the ballroom. VG Cabuag

standing marks an important step for both Kepco and Meralco. Enshrined here is a commitment to exchange knowledge, strengthen capabilities, and work together toward a smarter, more resilient energy future,” Meralco Chairman Manuel V. Pangilinan said in a statement. Both companies will also engage on technical competency development through information and employee exchange programs for specific training courses. Additionally, they will explore potential collaborations in advisory and consulting services, as well as other power and energy initiatives of mutual interest.

“We’re looking forward to work

together with Kepco. This collaboration allows us to refine our strategies, integrate new technologies, and find better ways to power the future. Beyond the business objectives, we want to forge and strengthen relationships that will drive meaningful progress,” added Pangilinan.

This latest partnership builds on Meralco’s earlier MOU with KEPCO, and its Knowledge Data Network signed in November last year to advance the use of smart metering technologies.

Last month, Meralco reported that its consolidated core net income (CCNI) rose to P45.1 billion from P43 billion in 2023 while net income grew

21 percent year-on-year to P45.9 billion last year.

The company attributed this to higher electricity sales and significant contributions from its generation business.

Revenues also increased to P470 billion, driven by the growth in electricity sales volume and higher passthrough transmission charge.

Meralco Chief Operating Officer Ronnie Aperocho described the utility firm’s financial performance last year as “remarkable” as its customer base surpassed the 8-million mark in October last year and it recorded an all-time high energy sales of 54,325 gigawatt. Lenie Lectura

Filreit share swap deal with FLI secures green light of investors

By VG Cabuag @villygc

SHAREHOLDERS of Filinvest REIT Corp., the real estate investment trust of the Gotianun Group, have approved a tax-free property-for-share swap with its sponsor, Filinvest Land Inc. (FLI) worth P6.26 billion.

The approval involves Filreit’s issuance of 1.62 billion primary common shares to FLI at an issue price of P3.85 per share.

The said price is a 30-percent premium over the 30-day weighted average of P2.94 per share.

Filreit’s share price closed on Tuesday at P3.15 apiece, unchanged from the previous trading session.

In exchange for the shares, FLI will infuse into Filreit Festival Mall in Alabang, consisting of a building and certain machinery and equipment.

Based on the company’s disclosure, the addition of the 121,862 square meters of gross leasable area (GLA) of main mall of Festival Mall increases Filreit’s overall occupancy to 88 percent from 83 percent as the main mall has fully leased out occupancy rate by FLI.

It also extends WALE, or weighted average lease expiry, to 14.6 years from, 7.3 years.

WALE is a metric used to estimate how long it will take for all leases in a commercial property to end.

The deal also diversifies its GLA portfolio away from offices to 67 percent from 91 percent, and into retail assets to 27 percent from none.

Filreit’s gross leasable area will increase by 37 percent to 452,310 square meters with improved operating metrics.

“We estimate regulatory approvals to be completed by second half, raising our 2025/2026 forecasts by 9 percent/5 percent year-on-year growth, and target price to P3.50,” Maybank Securities said in a research note.

Filreit’s income last year fell 6

percent to P1.63 billion from the previous year’s P1.74 billion.

Revenues also slightly fell to P2.84 billion from P2.98 billion in 2023.

The company said it signed new leases totaling almost 29,000 square meters in 2024, including 12,488 square meters of traditional tenants comprised of both new entrants and existing tenants expanding within Northgate Cyberzone.

The size of new leases in 2024 is a 44-percent improvement from the signed 20,100 square meters of new leases in 2023.

By Andrea E. San Juan @andreasanjuan

THE Philippines wants to tap the expertise of global apparel retailer Uniqlo as it aims to revive its textile and fashion design industry, according to the Department of Trade and Industry (DTI).

Trade Secretary Cristina A. Roque told executives of Fast Retailing Co. Ltd., the multinational firm that operates multiple brands including Uniqlo, that the Philippines wants to become a candidate for the Japanese brand’s partner factory model program.

“The Philippines is fully committed to working with global retailers like Uniqlo who share a vision of responsible sourcing and environmental consciousness,” Roque told the Japanese executives during a recent meeting in Tokyo.

The Philippines’s Trade chief made this pronouncement as she divulged that the country is currently “revitalizing” its textile and fashion design industry.

Roque said the partner factory model program of Uniqlo has been a “success” in other countries. As such, she noted that opening the program to the Philippines would be beneficial to both parties, saying this would not only reduce shipping time and lower cost but would also improve sustainability by minimizing the carbon footprint in the Philippines.

Moreover, she said the Trade department is “prepared to facilitate connections” with weaving communities,

sustainable fabric producers and designers to help UNIQLO establish a “more reliable” local supply base. In showcasing the country’s sustainability efforts as well as the “richness” of Filipino craftsmanship, Roque urged Japanese business executives to consider “pop-up showcases” in major Uniqlo stores in the Philippines.

“This could feature sustainable Philippine products and can coincide with the celebration of the 75th anniversary of diplomatic relations between our two nations. This would be a meaningful collaboration that aligns with both our sustainability and cultural exchange goals.”

Roque presented these proposals to Daisuke Tsukagoshi, Koji Yanai, and Keiko Mayuizum as she expressed her “appreciation” to Uniqlo, citing the Japanese retail brand’s “impressive” performance and positive contributions to the Philippine economy, such as the brand’s advocacy to sustainability under its “Unlocking the Power of Clothing” initiative.

Based on the website of Fast Retailing, there are 74 Uniqlo stores in the Philippines as of February 28,2025. The retail brand opened its first store in the country on June 15, 2012.

A UNIQLO store in Singapore. PHOTOGRAPHER: NICKY LOH/BLOOMBERG

THIS BusinessMirror file photo shows Filinvest One, one of the 17 Grade A office buildings in Northgate Cyberzone along Alabang-Zapote Road.

YIELDS of the 5-year Treasury bonds (T-bonds) rose on Tuesday due to weak investor appetite after US President Donald Trump proceeded with his planned tariffs on China, Canada and Mexico.

The auction committee made a full award of the re-issued 5-year T-bonds with an average yield of 6.019 percent. Yields ranged from a low of 5.975 percent to a high of 6.040 percent.

The average auction yield is higher than the 5.968 percent yield set during the previous auction of the securities with the same tenor a month ago and the benchmark Philippine Bloomberg Valuation (PHP BVAL) rate of 5.935 percent for the 5-year tenor.

The T-bonds have a remaining life of five years and four months and a coupon rate of 6.375 percent.

The Bureau of the Treasury (BTr) raised P30 billion, as total bids reached P56.819 billion. This was lower than the P98.633 billion in bids during the previous auction for the same tenor last month.

Demands for the tender were 1.89 times oversubscribed as the committee rejected P26.819 billion.

The rise of T-bond yields reflected the lower market interest amid Trump tariff concerns, according to Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp. (RCBC).

The White House said Trump signed an order doubling a tariff on China to 20 percent effective on March 4, as well as a 25-percent tariff on all imports from Canada and Mexico.

These measures could lead to higher US inflation and reduce the likelihood of the US Federal Reserve cutting key policy rates, which could be matched by the Bangko Sentral ng Pilipinas (BSP), Ricafort said.

“Fed and BSP officials are still on a wait-and-see mode on the effects of Trump’s higher US import tariffs and other protectionist measures on US inflation that could determine future Fed rate cuts that could be matched by the BSP,” the RCBC economist said on the possibility of yields increasing in the coming days.

Ricafort added that the expectations of inflation further declining, the reduction in banks’ reserve requirement ratio and the Philippines’ exit from the Financial Action Task Force’s grey list would lead to greater demand for loans and investments, such as government securities.

The RCBC executive cited other offsetting factors include the declining 5-year US Treasury bond yield to 3.95 percent, lower global crude oil prices and the Trump administration’s policy pronouncements to reduce the 10-year US Treasury yield through higher oil production and government cost-cutting.

This March, the Treasury aims to raise a total of P125 billion by auctioning T-bonds and P88 billion from Treasury bills. As planned, the national government will borrow P2.545 trillion, following an 80:20 mix in favor of local sources.

The government’s outstanding debt reached a new record high at P16.312 trillion as of the end of January 2025. This is 10.29 percent higher year-on-year from P14.790 trillion. Reine Juvierre S. Alberto

Banking&Finance

BIR outs rules on tax cuts, standards

By Reine Juvierre Alberto @reine_alberto

THE Bureau of Internal Revenue

(BIR) has issued a series of new Revenue Regulations (RRs) reducing corporate income tax rates and standardizing value-added tax (VAT) rules, following the recent passage of the Create More law.

Internal Revenue Commissioner and Finance Secretary Ralph G. Recto signed RRs Nos. 005-, 007-, 008-, 009-, 010-2025 on February 27, amending certain sections in the Tax Code after Republic Act (RA) 12066 (Create More law) was passed into law. Under RR 005-2025, withholding tax rates were revised while the basis of certain income payments was adjusted.

By VG Cabuag @villygc

THE Philippines is well-positioned to capitalize on the growing momentum in sustainable finance, as stable economic indicators and favorable market conditions create an enabling environment for green financing, according to the ING Bank NV-Manila Branch.

According to the Amsterdam, the Netherlands-domiciled bank, the Philippines is emerging as a key player in the region’s sustainable finance landscape, with renewable energy and infrastructure projects attracting significant interest.

The country’s stable inflation and proactive monetary policy measures by the Bangko Sentral ng Pilipinas provide a conducive environment for green financing, it said.

“The Philippines is at a pivotal moment in its sustainable finance journey. With stable economic indicators and a clear focus on renewable energy and infrastructure, the country is well-po -

By Manuel T. Cayon @awimailbox

DAVAO CITY—The Bangsamoro Ministry of Finance, Budget, and Management (MFBM) disclosed a fresh partnership with the Land Bank of the Philippines to smoothen the autonomous region’s financial management and accountability.

The February 24 Memorandum of Agreement has its focus on improving the Bangsamoro Treasury System on Disbursement, which the autonomous regional government said was a system that has operational only last year.

“This initiative has already facilitated the reversion of unutilized funds across the Bangsamoro ministries, offices, and agencies, offering valuable insights into cash flow management,” said MFBM Minister Ubaida C. Pacasem. Pacasem said the achievement “has provided us with valuable insights into cash flow management and has reinforced our interest in exploring the establishment of a Treasury Single

Credit card companies must withhold 0.5 percent on payments to businesses for cardholder transactions while electronic marketplace operators and digital financial service providers must withhold 0.5 percent in gross remittances to merchants for the goods or services sold through their platform.

Meanwhile, RR 007-2025 implemented the reduced income tax rates for domestic and resident foreign

sitioned to attract green investments,” said Leoncio A. Palanca Jr., the country manager and head of wholesale banking for ING Bank NV in Manila.

Palanca further expressed the lender’s commitment “to supporting this transition by providing innovative financing solutions that align with global sustainability goals.

Our efforts in 2024, including the mobilization of €130 billion in sustainable financing globally, reflect our dedication to driving meaningful change in the markets we serve, added the lender.

As transition bonds and loans gain traction across Asia and emerging markets, the Philippines remains focused on maintaining economic stability while leveraging the region’s expanding sustainable finance landscape, the bank said.

“With supportive regulatory frameworks and increasing investor demand for credible ESG solutions, the country is poised to play a significant role in the global transition to a sustainable

Account (TSA) for the Bangsamoro Region.”

The official emphasized that the initiative wanted to consolidate Barmm’s cash accounts, enhance fiscal discipline, streamline financial operations, and optimize government resources.

Both the MFBM and LBP hoped that their partnership will contribute to the financial progress and stability of the Bangsamoro region.

The Bangsamoro Ministry of Basic, Higher, and Technical Education (MBHTE), meanwhile, granted subsidies to selected madrasah, or Arabiclanguage schools, to further improve their learning and to gradually integrate their system into the country’s general educational system.

The subsidy totaling P23.21 million went to the following madrasah schools: Southern Philippines Islamic Institute Foundation Inc. (P1,575,000); Madrasah Bahrul Hayat Al-Islamie Inc. (P360,000); Sakeenah Al-Islamiyah Institute Inc. (P1,780,000); Ma’ahad AsSaqafah Al-Islamie Inc. (P2,200,000);

corporations classified as Registered Business Enterprises (RBEs) under the Enhanced Deductions Regime (EDR).

General domestic corporations will have a 25-percent income tax rate while domestic corporations with net taxable income of not more than P5 million and total assets not exceeding P100 million will be imposed a 20 percent rate.

RBEs under EDR will enjoy a 20-percent corporate income tax rate and will cover taxable income derived from registered projects or activities during each taxable year.

Meanwhile, input tax paid on local purchases attributable to VATexempt sales will be deductible from the gross income of the taxpayer.

RBE’s excess income tax payments due to the reduction of tax rate may be carried forward to the succeeding taxable quarter or year.

Moreover, RR 009-2025 subjects the local sales of goods or services of RBEs to 12 percent VAT, regardless of income tax regime and location, and

are subject to 12 percent VAT unless exempt or zero-rated.

The buyer of products or services is now liable to pay and remit the VAT to the government, based on the Create More law.

Meanwhile, the national government must withhold 12-percent VAT on the purchase of goods and services from RBEs. As part of transitory provisions, invoices must be updated to include “VAT on Local Sales” by December 31, 2025, while registered invoicing systems must reconfigure their VAT descriptions accordingly.

Further, the BIR issued RR 0082025 to set rules on the reconsideration requests on full or partial denial of taxpayer-claimant’s refund claims for creditable input taxes and excise tax on petroleum products.

The processing of the refund claim, if granted, shall be made within 20 days from the date the decision is issued upon the timely filing of the reconsideration request.

The full or partial denial shall be deemed final upon the lapse of

economy,” it said.

The Philippines was Southeast Asia’s second-most active sustainable bond floater last year, offering some $15.28 billion worth of debt paper that will support green or sustainable projects. Thailand was the region’s top seller of green bonds at $19.56 billion and Malaysia was third at $14.99 billion.

Total global sustainable finance issuance reached a record $1.657 trillion in 2024, an 11 percent increase from 2023. Green bond issuance led the way, hitting $688 billion in 2024, with projections indicating a rise to $700 billion in 2025.

Sustainability bonds and green loans also achieved new records, with $252 billion and $192 billion issued, respectively.

ING Bank NV reportedly mobilized about $136.33 billion in sustainable financing last year, surpassing market growth rates. It says it is making “significant progress” toward the group’s 2027 target of €150 billion ($157.19 billion) annually.

and, Sultan Kudarat Islamic AcademyElementary Annex (P2,260,000). Other recipients were Shariff Aguak Ibn Ampatuan Islamic Memorial Academy Inc. (P3,445,000) and Ibn Siena Integrated School Foundation Inc., which got the highest grand of P11,590,000.

Education Minister Mohagher M. Iqbal said he would like to underscore the significance of the program, stating that “Islamic education is crucial not only in madaris [plural of madrasah) but also in the education system itself.”

“We believe that when one is educated, they have a greater chance of improving their life and making a more significant contribution to their respective communities,” Iqbal said. He also pointed out the necessity to integrate Islamic studies into the broader education system.

During the ceremony, the MBHTE awarded 13 madrasah institutions for their achievement and performance in various categories, and excellence in curriculum development, community engagement, and student achievement.

moves are the opposite of the so-called “Trump trade,” which favors rising equities and higher Treasury yields. Treasuries Are Now Beating Stocks Since Nov. 5 “It’s easy to see the Fed cutting

50, 100, 150 basis points this year, but tough—if not impossible—to see them tightening by the same magnitude,” said Michael Brown, senior research strategist at Pepperstone Group Ltd. in London. “Sprinkle a growth scare on top, and there’s your bull case in a nutshell” for bonds, he said. Treasury 10-year yields fell to a fourmonth low of 4.11 percent Tuesday as investors bet the intensifying trade war will bludgeon global growth. The US economy, long lauded for its outperfor-

mance, is showing cracks with factory activity edging closer to stagnation in February—bolstering the appeal of fixed-income assets.

“The ‘US exceptionalism’ narrative—a driver of macro markets for well over a year—faces an increasingly uphill battle, given risks to growth on both sides of the Atlantic,” Morgan Stanley strategists including Matthew Hornbach wrote in a note. “We think US Treasuries will benefit the most from a rethink of the narrative.” Bloomberg News

the 15-day period from the date the taxpayer-claimant received the notice of full or partial denial of the refund claim.

The taxpayer-claimant may appeal the full or partial denial of the request for reconsideration or the full or partial denial of the claim for refund in case of inaction to the Court of Tax Appeals within 30 days upon receiving the decision or from the lapse of the 15-day period to decide. Lastly, in RR 010-2025, VAT-registered businesses engaged in zerorated sales of goods, properties or services may apply for a cash refund of input tax.

The regulation subjected to a zero percent VAT rate the services rendered to foreign clients, international transport services, services under the Philippine Economic Zone Authority and other registered enterprises, services to foreign embassies, government and international organizations and the processing, manufacturing or repacking goods for export.

MULTIPLE RECOGNITIONS

High toll fees to have ‘slight effect’–Peza

THE Philippine Economic Zone Authority (PEZA), the investment promotion agency tasked to promote and establish economic zones (ecozones) in the country, expressed favoring “reasonable” hikes in toll fees on expressways only if these will contribute to more seamless transport of ecozone cargoes.

“As long as it will improve our lot! Whatever it takes to enhance the road infrastructure, travel time and experience—and the fees are reasonable,” PEZA Director General Tereso O. Panga told the BusinessMirror last Monday.

Panga made this remark after the Nlex Corp. started charging higher toll fees with the approval of the Toll Regulatory Board (TRB) last Sunday.

The head of the investment promotion agency said the PEZA is ready to support hard and soft infrastructure that would enhance the transport, logistics and manufacturing sectors in the country.

“For instance, the improvements in the expressway and toll management system is seen to address road congestions and bottlenecks at toll booths,” added Panga.

The PEZA chief explained further that infrastructure improvements will contribute to a “faster and more seamless” transport of ecozone cargos and import/export shipments from the ports to the zones, which he said will also enhance the country’s logistics supply chain.

Panga deduced that this move will “ultimately contribute” to the country’s overall competitiveness as an investment destination.

Still, the head of the investment promotion agency said there may be a “slight effect” on the business operational costs of some of PEZA’s locators based in the North Economic Zones.

“However, I believe that this is part of the plan and contract as managed by the TRB and the private enterprise managing NLEX,” added Panga.

He made an appeal to toll operators “if they can provide discounts to PEZA-registered logistics entities with high volume of imports for the ecozones coming from the ports,” adding “That would be well and good and we are willing to talk with them.”

Panga said the investment promotion agency’s concern lies in making sure that the business environment for investors remain “stable and predictable” in order to make them stay.

“As of this writing, we have yet to receive any complaints on the issue. But, once we do, we will elevate this matter and discuss with the relevant government agencies to come up with a win-win solution... most specially as it concerns foreign direct investments which we are trying to court and existing brick and mortar manufacturing investments which we are campaigning to retain,” Panga told this paper.

In a press briefing on Monday, Palace Press Officer Clarissa A. Castro said the Palace is checking with concerned agencies if the toll increase will lead to higher prices of goods, particularly agricultural products, which are delivered through the Nlex.

We will check if there is a price increase and if there is, if it is reasonable, Castro said in Filipino.

“It will still undergo study to make sure it will not be a burden to the people if there will be such an increase,” she added. Castro made the remark after the Alliance of Concerned Truck Owners and Organizations (Actoo) warned that the toll increase will lead to more expensive goods for consumers. (See: https://businessmirror.com.ph/2025/03/03/

Explore your artistic side

EXPLORING your artistic side is more than a creative outlet. It is a powerful tool for self-expression, stress relief, and personal growth. When I managed a team of content developers, I discovered that beyond learning new skills, I was also refining my communication in meaningful ways. Engaging in art sharpens problemsolving abilities, enhances mental well-being, and boosts confidence. Whether you are an experienced artist or just starting, embracing creativity can bring new joys and feelings of fulfillment.

One of the best ways to explore your artistic side is by experimenting with different art forms. Painting, drawing, sculpting, photography, and digital art all offer unique ways to express creativity. For example, if you enjoy capturing moments, try photography and experiment with different lighting and angles to bring out the emotion in your images. If you prefer working with your hands, sculpting with clay or creating do-ityourself crafts like handmade jewelry or pottery can be a fulfilling experience, allowing you to transform raw materials into something beautiful and personal. Keeping a creative journal is another way to unlock your artistry. This can include doodling, writing poetry, sketching ideas, or mixing and matching colors freely. For instance, if you love writing, try composing short poems or personal reflections accompanied by illustrations. If you are drawn to visual arts, you can make a mood board filled with colors, textures, and design ideas that inspire you. A journal is a safe space to let your thoughts flow without judgment and track your creative growth over time, making it an excellent tool for selfexpression.

Of course you can also take an art class or workshop to provide structure and inspiration. Online platforms offer courses in painting, digital design, and even calligraphy. If you have always wanted to learn watercolor painting, for example, joining a beginner’s class can teach you blending techniques and color theory while giving you the confidence to create beautiful artwork. Attending inperson workshops can also allow you to connect with fellow artists, receive constructive feedback, and learn

consistent growth. Even small creative exercises, such as quick sketches, writing a short story, or experimenting with digital design for five minutes a day, can help strengthen your skills over time. Setting aside a few moments each day for creative expression can turn art into an integral part of your routine. Consider setting up a designated creative space at home where you can immerse yourself in artistic activities without distractions.

Collaborating with other creatives can be both inspiring and motivating. Joining an art community or participating in group projects allows you to exchange ideas and gain encouragement. For instance,

intricate designs, experimenting with unique flavors, or crafting beautiful dessert presentations. You can also personalize everyday items by hand-painting mugs, designing your own clothing, or creating handmade greeting cards for loved ones. Art is a personal journey, and there is no right or wrong way to express yourself. The key is to embrace creativity, explore different avenues, and enjoy the process of making something uniquely yours. No matter how you choose to express your artistic side, the most important thing is to have fun and let your creativity shine. Start today and unleash the artist within. ■

Seaoil breaks ground for biggest station in Luzon

A LEADING independent fuel provider in the Philippines, Seaoil continues its expansion efforts in the north with the groundbreaking of a new station in Bauang, La Union, its biggest one in Luzon.

The new location spans 12,400 square meters and will cater to both fuel-powered vehicles and electric vehicles (EV). It will be a hub where motorists can gas up their cars and charge their electric vehicles, catering to the growing local market in La Union and nearby provinces. The venue will also serve passing travelers as it will become a one-stop hub housing various locators such as coffee shops, convenience stores, and car service shops alongside EV charging stations.

Seaoil is eyeing to set up the station to accept payments using PriceLOCQ, the company’s fuel-saving app, and sell its lubricant products once the location is fully operational.

It will also be home to BYD La Union showroom and service shop.

“This milestone marks the beginning of a new era for Seaoil. We’re ready to bring sustainable energy and electric vehicles to motorists based in the north. The decision to open in Bauang is strategic as we have an extensive business partner network in North Luzon, and it is close to our Bangar depot further up north,” said Seaoil CEO Glenn Yu in a statement.

The hub is projected to complete construction in the first half of 2025 and will be the third station in Bauang. Currently, Seaoil has 15 stations in the La Union province.

Sea Electric Philippines Inc., Seaoil’s major partner locator in its Bauang La Union station, will manage the BYD dealership. Seaoil also plans to add EV charging points at some of its 25 gasoline stations from its NLEX Balintawak branch to the Bauang station.

This strategic move not only supports the growing demand for electric vehicles but also addresses concerns on range anxiety by making EV charging more accessible to drivers along key routes.

Eugenia Last

GEMINI

satisfy your expectations. ★★★

CANCER (June 21-July 22): Efficiency is the way forward. How others perceive you will depend on what you achieve. Put your best foot forward and make a lasting impression. Express your thoughts and ideas with confidence, clarity and creativity; the support you need to carry on will be yours. ★★★

LEO (July 23-Aug. 22): Remain in your comfort zone. Refuse to let anyone talk you into something questionable. Don’t feel you have to impress anyone. Concentrate on expanding your mind and learning something that will contribute to surpassing your expectations, and you’ll feel good about the prospects that surface. A new look will boost your confidence. ★★★★

VIRGO (Aug. 23-Sept. 22): Take a moment to evaluate your position and prospects. Try not to make comparisons between yourself and others. Set your goals and standards to suit who you are and the lifestyle you want to aspire to, and you’ll find the happiness you desire. Positive change begins with you. ★★

LIBRA (Sept. 23-Oct. 22): An open mind will lead to new beginnings and a new version of yourself. Trust your instincts and adjust what no longer suits your needs. Move on; taking advantage of something you encounter will help you gain ground. Follow your heart, rely on your intelligence and avoid procrastinating. ★★★★★

SCORPIO (Oct. 23-Nov. 21): Get out, strut your stuff and leave a lasting impression. It’s time to take a leadership position, believe in yourself and your attributes, and shift your thinking to pursuing what you love to do most without taking on debt, carrying old baggage or letting anyone take advantage of you. ★★

SAGITTARIUS (Nov. 22-Dec. 21): Revise your to-do list and eliminate tasks and requests that don’t fit your schedule or help you get where you want to go. Be true to yourself and forgo being the one everyone relies on to get things done. ★★★

CAPRICORN (Dec. 22-Jan. 19): Do what you have to do, and don’t look back. It’s up to you to make the moves that will satisfy your needs. Take a step toward pleasing yourself and stop worrying about who doesn’t like your choices. ★★★★★

AQUARIUS (Jan. 20-Feb. 18): Sit tight; wait, watch and assess situations. Timing will make a difference regarding personal and domestic issues and finances. Set yourself up for success with a budget, a solid plan and the people who count in your life by your side. Smart moves take planning, precision and patience.

(Feb.

FROM left: Seaoil chairman Francis Yu, Seaoil Bauang La Union dealer Engr. Pepito Alba Jr., and Seaoil CEO Francis Glenn Yu.

YACHT

PARTY GIRL

A CONTROVERSIAL public figure contacted this beautiful starlet about a potential side hustle. The starlet was interested because any extra amount would be welcome as she is a single mom. It turns out that the controversial public figure wanted her to attend a yacht party abroad for a huge amount of money and what the starlet needed to do was be pretty and presentable. The starlet needed the money but the whole situation seemed suspicious to her. Why would anyone pay her such a huge amount just for the presence? The starlet knows she is pretty but she also realizes that isn’t enough. She also figured out how the controversial figure has earned his keep for the last few years.

SUSPICIOUS

THE actor is suspicious of the man his ex is dating. The man has been involved in certain issues, including sexual abuse. This should not concern the actor except that he and the girl have a child and he wants to be sure that anyone who’s in his child’s presence is someone who is trustworthy and does not have an unsavory character. The actor knows that his ex is with the guy for his money and that’s not his business. He just wants his child to be safe.

CREEPY ACTOR

THE athlete is being linked to a super popular pop star and the former has been interviewed about it. He has neither denied nor confirmed any of the rumors about in the name of privacy. But in the midst of all these rumors, netizens have uncovered something curious. An actor has been liking some of the pop star’s posts on a certain social media platform when he doesn’t even follow her. The actor is in a serious relationship. He has since unliked the posts after he was called out on it.

NICE GIRL

DESPITE having the most obnoxious fans and some negative perceptions surrounding her, a rising female star is said to be one of the nicest in the business. The female star has told people that she just wants to earn money for herself and her family. She also realizes that she’s made some mistakes but that’s because she is young and sometimes foolish. She said she just wants her place in the industry and it does not have to be big. She is happy just to have a career.

‘MY ILONGGO GIRL’ BREAKS ONLINE RECORDS WITH SHOCKING TWISTS

GMA Public Affairs’ romcom miniseries My Ilonggo Girl has taken the nation by storm, captivating audiences both on television and online. Since its premiere on January 13, the series has consistently dominated ratings and amassed an astounding 970 million views across digital platforms. It remains the most-watched program on GMA Network’s YouTube channel, solidifying its place as a winning series on both on-air and digital platforms.

Starring Jillian Ward, My Ilonggo Girl continues to break records, fueled by her undeniable chemistry with Michael Sager. Their on-screen pairing—dubbed "MicJill"—has become one of the most popular in recent years. The series’ compelling storyline, which initially showcased Jillian in a dual role as the humble Ilongga, Tata, and the glamorous actress, Venice, has deeply resonated with audiences nationwide. Recent episodes have taken viewers on an emotional rollercoaster, unveiling shocking betrayals and unexpected twists. With Venice’s dramatic return—now portrayed by Myrtle Sarrosa—Tata’s life is thrown into chaos. One of the biggest revelations came when Margaret (Andrea Del Rosario) finally exposed the real culprit behind her late son Vincent’s stolen watch: their maid, Sharon. With the help of Julius (Geo Mhanna) and crucial evidence, Tata’s innocence is proven at last.

But just as the truth surfaces, new dangers emerge. Desperate to hide her and Venice’s failed schemes against Tata, Vivian (Teresa Loyzaga) escalates her devious plots. In a jaw-dropping turn of events, Margaret is poisoned at Nay Gwapa’s (Arlene Muhlach) canteen, setting the stage for another dramatic showdown. Tata soon finds herself at the center of yet another accusation. To protect her daughter, Nay Gwapa takes the blame, leading Tata to fight for her mother’s freedom. However, Francis’ family remains unconvinced of Nay Gwapa’s innocence, setting up a fierce battle for justice.

My Ilonggo Girl airs Monday through Thursday at 9:35 pm on GMA Prime and 11:25 pm on GTV. Global audiences can also tune in via GMA Pinoy TV. More information can be found at www.gmanetwork.com

Show BusinessMirror

Key Oscar moments, from Zoe Saldaña’s emotional win and ‘Oz’ opening to Kieran Culkin’s baby wish

By Mark Kennedy The Associated Press

THERE were a lot of smiling faces at the Oscars but one had to stand out—Sean Baker saw his film Anora go home with the top film prize and he took four for himself. Its star Mikey Madison was crowned best actress. Twenty-two years after winning best actor for Pianist, Adrien Brody won the same Oscar again for his performance as another Holocaust survivor in Brady Corbet’s The Brutalist. He somehow kept the playoff music at bay.

On Sunday, firefighters who battled recent wildfires got applauded, Mick Jagger handed out the best original song Oscar and John Lithgow was tasked with looking “slightly disappointed” when speeches ran long. One highlight was Timothée Chalamet— literally. His yellow suit got more than one comment. Here were some other telecast highlights:

n ‘Proud child of immigrant parents’. Zoe Saldaña was the favorite but that didn’t diminish her emotional win.

After accepting the Oscar for best supporting actress for her work in Emilia Pérez, Saldaña spoke emotionally about her family and her grandmother, tearing up during her speech.

“My grandmother came to this country in 1961—I am a proud child of immigrant parents,” she said. “With dreams and dignity and hard-working hands, and I am the first American of Dominican origin to accept an Academy Award, and I know I will not be the last. I hope. The fact that I’m getting an award for a role where I got to sing and speak in Spanish— my grandmother, if she were here, she would be so delighted, this is for my grandmother.”

The accolade comes after Saldaña swept the awards season, taking home the Golden Globe, Critics’ Choice, BAFTA and SAG awards for playing lawyer Rita Mora Castro.

n A ‘Wicked’ opening. Host Conan O’Brien took a back seat at the Oscars’ opening number, ceding the floor to a Wizard of Oz-themed, 8-minute musical medley led by Ariana Grande and Cynthia Erivo. Grande, in a red sparkly dress, performed a rendition of “Somewhere Over the Rainbow” from The Wizard of Oz. Then Erivo, in a white gown with floral embellishments, took the stage to sing a staggering rendition of “Home” from The Wiz. They joined up for Wicked’s “Defying Gravity,” with Grande kissing Erivo’s ring.

Wildfire-battered Los Angeles, on this night, stood in for Oz, with the graphic “We Love LA” showing after the pair were finished. The show began with a medley of film moments that used Los Angeles as a backdrop, including La La Land, Straight Outta Compton, Iron Man 2 and Mulholland Drive

Then it was O’Brien’s turn, comically pulling himself—and a missing shoe—from within the body of Demi Moore, in a take on her film The Substance.

n A very—maybe too—public family discussion. While accepting an Emmy Award in January 2024, Kieran Culkin used his time onstage to plead with his wife for more kids. They have two, Kinsey Sioux and Wilder Wolf. “You said maybe if I win,” he said, cheekily.

On Sunday, he upped the demand.

Culkin from the Oscar stage repeated the story and then said that he and Jazz Charton made a deal in the parking lot at the Emmys: If he won an Oscar, she’d

not only give him a third, they could plan for a fourth. They even shook on it.

“I just have to say this to you, Jazz, love of my life, ye of little faith,” he said as the crowd roared. “No pressure, I love you. I’m really sorry I did this again. Now let’s get cracking on those kids, what do you say?”

The moment got an echo later in the night when I’m Not A Robot director Victoria Warmerdam said she wasn’t following Culkin’s lead.

“To my producer and partner in life, Trent: I’m not having your babies because of this statue,” she said after winning best live action short.

n 007, celebrated by women. There was no James Bond movie nominated in 2024 but there was a big James Bond section at the Oscars that ate up a lot of telecast time. To honor transfer of the franchise to Amazon, three singers—Lisa, Doja Cat and Raye—each sang a different 007 title song. Lisa sang “Live and Let Die,” Doja Cat tackled “Diamonds Are Forever” and Raye did “Skyfall.”

Amazon MGM announced on Thursday that the studio has taken the creative reins of the 007 franchise after decades of family control. Longtime Bond custodians Michael G. Wilson and Barbara Broccoli said they would be stepping back. On Sunday, Halle Berry thanked them for being the “heart and soul” of Bond.

The tribute began with The Substance nominee Margaret Qualley in a red gown taking to the stage to dance acrobatically with a team of male dancers to the James Bond theme.

n Gene Hackman honored. Morgan Freeman made an understated tribute to a friend: Gene Hackman.

Freeman, who starred with Hackman in two movies, kicked off the in memoriam section with a somber note about Hackman, who was found dead

last week alongside his wife.

“This week, our community lost a giant. And I lost a dear friend, Gene Hackman,” Freeman began in his speech. “I had the pleasure of working alongside Gene on two films, Unforgiven and Under Suspicion. Like everyone who ever shared a scene with him, I learned he was a generous performer and a man whose gifts elevated everyone’s work.”

“Gene always said, ‘I don’t think about legacy. I just hope people remember me as someone who tried to do good work,’” Freeman continued. “I think I speak for us all when I say, ‘Gene, you will be remembered for that, and so much more.’ Rest in peace, my friend.”

The in memoriam section would honor such luminaries as Terri Garr, Donald Sutherland, Louis Gossett Jr, Shelley Duvall, David Lynch, Bob Newhart, Gena Rowlands, Maggie Smith and James Earl Jones. A separate section in the telecast honored Quincy Jones.

n How to stop the wrap-up music. It has been an endless torment to winners everywhere whenever they hear the music swelling. It means one thing: Stop talking.

Brody had a novel response to the playoff music on Sunday. He looked sternly into the camera and said: “I’m wrapping up, please turn the music off. I’ve done this before. Thank you. It’s not my first rodeo, but I will be brief.”

It’s true. He won the Oscar in 2003 for The Pianist, memorably kissing Halle Berry at the podium. But that time he was pleading, not demanding, more time from producers.

When the music started rolling during his emotional speech back then, Brody said: “One second, please. One second. Cut it out. I got one shot at this.” He added, “I didn’t say more than five names, I don’t think.” He went on for more than a minute more. n

‘CAPTAIN AMERICA: BRAVE NEW WORLD’ STAYS AT THE TOP ON WEAK OSCARS WEEKEND AT THE BOX OFFICE

LOS ANGELES—Captain America: Brave New World kept falling but still hovered above all others at a weak weekend box office.

The latest Disney-Marvel offering brought in another $15 million according to studio estimates on Sunday, when most of Hollywood’s attention was on the Oscars. The Anthony Mackie-led Captain America: Brave New World opened strong at about $120 million on a three-day weekend last month, but plunged to $28.2 million last week in one of the most significant second-week drops for a Marvel movie. It’s earned $163.7 since its release. It was slammed by many critics and audiences, failing to bring the Marvel reset some had hoped for. That task now falls to May’s Thunderbolts and July’s Fantastic Four: First Steps. But Captain America will face little competition through March, and could remain at No. 1 for a while. The weekend’s only significant new release, Focus Features’ Last Breath, earned just $7.8 million. The

based-on-a-true-story adventure starring Woody Harrelson, Simi Liu and Chris Lemons is about a routine deep-sea diving mission that goes terribly wrong when a young diver is stranded some 300 feet below the surface.

It got strong reviews, with Lindsey Bahr of The Associated Press praising the “white-knuckle experience” and “pure suspense and anxiety” it brings. At No. 3 was Oz Perkins’ The Monkey, which brought in $6.4 million

FROM left: Oscar winners Adrien Brody, Mikey Madison, Zoe Saldaña and Kieran Culkin. AP

MICHAEL SAGER and Jillian Ward

Grafik Hotel Collection to Debut in Cebu

CHROMA Hospitality, a proud subsidiary of Filinvest Development Corporation, has officially signed an agreement with QM AZ Holdings, Inc. to introduce Grafik Hotel Collection in Moalboal, Cebu. This marks the second property under the Grafik Hotel Collection, following its first location in Baguio City.

The agreement was officially sealed during a momentous ceremony on February 14, 2025, at Crimson Resort and Spa Mactan, marking the start of a new chapter in the vibrant and growing tourism destination of Moalboal.

Known for its pristine beaches, rich marine life, and the iconic sardine run, Moalboal has long been an underappreciated gem. As one of the most biodiverse coastal areas in the Philippines, it is home to world-class diving spots, majestic waterfalls, and a thriving local culture. Grafik Hotel Collection in Moalboal will offer guests an immersive experience, deeply rooted in the destination’s natural beauty and rich heritage, all while delivering vibrant, locally inspired cuisine.

With its extensive portfolio of homegrown Filipino hospitality brands, Chroma Hospitality has been a leading force in the local hospitality industry. Among them are Crimson Hotels & Resorts, including the Michelin-listed

Crimson Mactan, and Quest Hotels. Its culinary offerings have also earned praise, with standout concepts like Enye by Chele Gonzalez, AKA by Chef Naoki Eguchi, Azure Beach Club, Baker J – a charming French café, and Firehouse – a favorite pizza parlor.

As part of Chroma’s ongoing expansion, the Grafik Hotel Collection is set to become a standout in the Filipino hospitality landscape. Inspired by the unique character of each destination, the brand’s mission is simple: to transform every guest into a storyteller.

QM AZ Holdings, Inc., led by CEO Allan Quirante and COO Jum Quirante, has long been the force behind major road and infrastructure projects in Cebu Province, connecting cities and communities. Today, they are laying the foundations for their first hospitality business venture.

The signing ceremony was a unique celebration attended by Filinvest Group’s Francis Gotianun and David Gotianun, Chroma’s Country Manager James Montenegro, and Business Development Deputy Executive Officer Kirk Llamas, and the Quirante family. A highlight of the event was a mixology ritual where the bespoke cocktail Tidal Essence was crafted, symbolizing the virtues of this partnership.

Reflecting on this milestone, Lyka Quirante, Chief Marketing Officer of QM AZ Holdings, shared, “Growing up in southern Cebu, we always felt Moalboal was an underappreciated destination. Its beauty, vibrant marine life, and lively community make it special. With tourism growing rapidly, Moalboal is the perfect place for our first hospitality venture.”

Jum Quirante, COO of QM AZ Holdings, added, “Chroma’s deep understanding of both local and international tourism, combined with their expertise in crafting

HILTON Manila is pleased to announce the appointment of Gagan Talwar as its new General Manager. A seasoned hospitality leader, Gagan brings a wealth of expertise in business development, operational efficiency and team leadership, having successfully led teams across five countries in the Asia Pacific region.

“Gagan’s leadership and deep understanding of the Hilton brand make him the ideal choice to drive Hilton Manila’s continued success. The Philippines continues to be a key market for Hilton, and Gagan’s strategic approach to operations, coupled with his passion for guest satisfaction and team development, will further strengthen the hotel’s reputation as one of the leading hospitality destinations in the country,” said Jamie Mead, senior director of operations, South East Asia, Hilton.

With a career spanning more than 17 years at Hilton, Gagan has demonstrated a strong track record in hotel pre-openings, delivering financial performance, and service excellence. Most recently, as general manager of DoubleTree by Hilton Shah Alam i-City in Malaysia, he spearheaded the hotel’s successful pre-opening, securing top-line performance and earning accolades such as Malaysia’s Leading Business Hotel for 2023. His leadership philosophy is rooted in fostering high-performing, diverse teams that consistently elevate guest experiences.

“I am excited to join the Hilton Manila team and continue building on the hotel’s legacy

exceptional hotel concepts, made them the ideal partner for us in bringing our vision for Moalboal to life.”

Grafik Hotel Collection in Moalboal, Cebu will boast 126 rooms, four food and beverage concepts, including Chroma’s homegrown Azure Beach Club and its very own Aum Spa. The spaces and interiors draw inspiration from the coastal beauty and rich biodiversity of Moalboal, Cebu. It will also offer fitness and recreational facilities, versatile meetings and event spaces, and a dive shop with a dedicated dive pool to cater to marine enthusiasts.

James Montenegro, Country Manager of Chroma Hospitality, added, “The property of QM AZ is a perfect addition to the Grafik Hotel Collection. Moalboal holds many stories untold, with its rich marine life and exciting activities. The design itself captures the colors and spirit of the sardine run—one of Moalboal’s iconic attractions. We believe Grafik is truly a fitting brand for this destination. Together, we’ll build hotels that are not just places to stay, but places that stay with you.”

As Grafik Hotel Collection prepares to welcome its first guests, this collaboration marks the beginning of an exciting new chapter for both Chroma Hospitality and QM AZ Holdings.

With its growing appeal as a premier destination, Moalboal will soon be ready to share its story with the world. With Grafik Hotel Collection, guests are invited to be a part of this unfolding journey—and write their very own Chapter One.

For more information about Grafik Hotel Collection and Chroma Hospitality’s technical consultation and hotel management service, visit https:// www.chromahospitality.com/ and/or email development@chromahospitality.com

After the Hug-A-Palooza, the featured guests received special giveaways and were led to an intimate Valentine’s dinner treat at EK’s very own restaurants Amazon Grill and LaunchTime.

Further spreading the Valentine vibe, violinist Dominique Casacop serenaded everyone at the Victoria Park last February 21 and 22. Sparkle GMA Artist Center stars Sofia Pablo and Allen Ansay also spread more kilig at the Park on their grand fans day last February 23 at the Bandstand.

With the “Forever Enchanted Photowall,” park goers can capture their magical memories with their loved ones at this colorful installation located near the Rialto 4D.

At nighttime, scroll along the streets of the Brooklyn Place and fall in love with the vibrant display in sync with classic romantic ballads at the “Forever Enchanted Love Symphony” during Fridays to Sundays.

To complete your romantic EK itinerary, EK brought back Forever Love: Enchanting Dinner in the Sky for all weekends in February. This iconic Valentine’s offering featured a unique dining experience for groups and couples while riding the Wheel of Fate ride. Create more Forever Enchanted memories filled with thrill and fun only here at EK with the Enchanted Hearts Promo. Walk-in guests will enjoy two Regular Day Passes and four Skill Games Tickets for only P2,400 until March 9. And as a special treat, enjoy four additional Skill Games Tickets when you book this limited-time offering via the EK Online Store.

BUILDING on the remarkable success of its flagship store in BGC, Key Coffee Kissaten proudly announces the opening of its newest branch at Opus Mall. The new location brings its signature blend of Japanese coffee culture and ItalianJapanese culinary artistry to a wider Filipino audience.

The Opus Mall branch, which soft-opened on January 11, 2025, continues Key Coffee’s century-old legacy while embracing the innovative culinary concept of Itameshi. This style, which blends the words “ita” (Italian) and “meshi” (Japanese for meal), harmoniously fuses the rich culinary traditions of both cultures.

Since its establishment in 1920, Key Coffee has been a cornerstone of Japan’s coffee culture. The brand has pioneered numerous innovations in Japan’s coffee industry, including the introduction of the kissaten culture, the renowned Blue Mountain coffee, and Toarco Toraja. Today, through Key Coffee Kissaten キ ッサ, the brand continues to bridge tradition and modernity, offering a contemporary interpretation of the classic kissaten experience.

This cultural collaboration is driven by Bryan Chua, President of Boosterfoods Inc., Marvin Chua, Vice President of Operations, and Kathleen Chua, Marketing and Sales Manager. Their extensive coffee exploration in Japan inspired them to create an experience that authentically captures Japanese coffee culture while appealing to Filipino tastes.

The culinary program is led by a talented team of professionals, including Chefs Thirdy Dolatre and Jorge Mendez, currently of Hapag and Modan, who

bring their innovative approach to Itameshi cuisine. Alexa Versoza, Head of Commissary and Research & Development Consultant with Four Seasons US experience, oversees the dessert program, while Corporate Head Chef Mianne Manguiat ensures the highest culinary standards and smooth operations.

The menu features a blend of traditional and innovative dishes. Kissaten Classics—crowd favorites such as the Horje-San Truffle Egg Sandwich, Kissa Veggie Chips, Okonomiyaki Fries, and Crab Ikura Udon—are complemented by new creations. The pasta selection includes Mushroom Shoyu Batā Pasta, while premium donburi options showcase Wagyu & Onsen Egg and Wasabi Ginger Glazed Salmon variations.

The Napori Signatures section introduces Italian dishes reimagined with Japanese techniques, including appetizers like Corn & Edamame Arancini and Sicilian Sashimi, and main courses such as Kaisen Seafood Pasta and Udon Carbonara. Specialty pizzas, such as Roasted Pomodoro, Amarena Formaggi, and Salmon Gravlax, offer a unique twist, alongside comfort foods like Buta Bianca Doria and Beef Hayashi Donburi. Visit Key Coffee Kissaten’s new branch at: Location: 2nd Floor, Opus Mall Operating Hours: 10:00 AM to 10:00 PM daily Reservations: +63 947 581 6122 Facebook/Instagram: @keycoffeekissaten

IN the photo are, from left, Chroma Hospitality’s Corporate Executive for Business & Project Development Kirk Llamas; Filinvest’s AVP Supply Chain Management Head for Hospitality David Gotianun; Filinvest Hospitality Corporation’s First SVP Francis Gotianun; Chroma Hospitality’s Country Manager James Montenegro; QM AZ Holdings, Inc.’s CEO Allan Quirante; QM AZ Holding, Inc.’s COO Aljumer “Jum” Quirante; QM AZ Holding, Inc.’s CMO Lyka Galeos-Quirante; and Hospitality Consultant Carmela Malagar.

EK Serenade at Victoria Park 2025

Key Coffee Kissaten Expands Legacy With New Branch At Opus Mall

Editor: Tet Andolong

Proper coordination and going back to basics are keys to achieve true sustainability

By Rizal Raoul S. Reyes @brownindio

In the age of the climate crisis, sustainability has become more important these days in community planning and development in the Philippines.

Elmer Mercado, a senior climate resilience, environmental sustainability/safeguards and land governance consultant, told the BusinessMirror in a recent interview t hat the first thing to implement is to treat the community not as victims but as partners who need to be given support and capability programs based on their needs.

“They keep missing out the part that the people themselves have the capability to bounce back provided they are given the proper support,” he pointed out.

Moreover, Mercado, a post graduate candidate of urban and regional planning at the University of the Philippines, said there s hould be a holistic approach in helping a community rebound from a natural calamity.

Right now, Mercado said rehabilitation plans of a community o r communities emanate from the top, for instance the national government. “Before empowering the p eople in a community, the sup -

da V ao , with its breathtaking landscapes, vibrant culture, and booming business scene, is rapidly becoming one of the Philippines’ most enticing destinations.

This southern gem is not just a place to visit; it’s an experience waiting to be had. a s d avao continues to grow into a top investment hub, it attracts both travelers and businesses alike.

o n e developer that has long recognized the city’s potential is Sta. Lucia Land i nc., which has been a key player in d avao’s real estate market for years. i t s latest offering, Soto g r ande h o tel d avao, is set to further strengthen their long standing presence in the region while offering travelers an unforgettable experience.

o p ened in 2022 in the peaceful Talomo district, Soto g r ande h o tel d avao embodies Sta. Lucia Land’s commitment to providing high-quality, thoughtfully designed spaces that cater to both leisure and business needs. Combining modern comforts with the serenity of nature, this new hotel will play a crucial role in reinforcing Sta. Lucia Land’s reputation for delivering exceptional developments in d avao.

“We are always looking for opportunities that would allow us to better serve the needs of the people and the opening of Soto g r ande h o tel d avao is simply a testament of how we remain true to our commitment. We believe that our diverse portfolio of offerings will allow us to create an even bigger impact here in d avao,” said Sta. Lucia Land president Exequiel r o bles.

“Soto g r ande h o tel d avao is our way of providing travelers a comfortable home away from home. We hope that our hotels will serve as a perfect start to their exciting adventures and memorable stays,” he added.

Conveniently located, Soto g r ande h otel d avao puts guests just minutes away from top attractions like the d avao Crocodile

porting agencies and organizations h ave to disempower themselves,” Mercado said. He also lamented that the policy and decision-making processes a re done by the highest officials. Although their objective is to deliver community resilience, the p rograms are pre-determined.

“The people on the top have decided what programs are going to b e implemented in the communities,” he pointed out. Fu rthermore, he said the outside players such as the national g overnment, local and international donors and the different g overnment agencies should not act on silos but adopt a holistic approach to ensure a smooth recovery a nd rehabilitation. For example, the donors should bear in mind that not all women in a community would need hygienic products. T hey should consider the seniors who would need financial assistance, the persons with disabilities ( PWDs), the marginalized sector,

among others.

Instead, Mercado said crafting of the sustainability and recovery programs must start from the bottom. Nevertheless, there are no s hortcuts in building the capabilities from the ground. When it was t ime to implement on the ground level, Mercado said it could not implement little or no changes if needed.

“It’s like Jollibee. When you decide to eat the spaghetti, there w ill be only one variety and nothing more,” he said.

M ercado also stressed the religiosity of the Filipinos and bayanihan spirit to be factored in the p rogram because they are part of the Filipino DNA.

“Before empowering us, they have to disempower themselves first,” according to a community

organizer.

Challenges of climate change in 2025

I T A l PINA s D evelopment Corp. (IDC) executive chairman and CEO Romolo Valentino Nati told the BusinessMirror in an email interview that climate change-related c hallenges faced by architects and developers remain consistent year after year.

“Architects must continuously focus on creating sustainable and environmentally conscious designs that address both the construction process and the long-term l ifespan of a project. Whether it’s 2024, 2025, or beyond, the priority remains the same: integrating e nvironmental considerations into every aspect of design,” he said. Nati firmly believes that archi -

tects must rethink their approach t o the profession. Elucidating, he said sustainability isn’t just about the environment but also covers economic and social sustainability. “Architects should strive to c reate harmony with nature while integrating these three pillars of sustainability into every stage of design and construction,” Nati said. IDC walks the talk as it was among the first in the Philippines to recognize the importance of sustainable design, starting with Primavera Residences in 2010—the f irst green building in Mindanao and one of the first in the country. Moreover, all its projects are Excellence in Design for Greater Efficiencies (EDGE)-certified projects, t he green rating system developed by the World Bank’s IFC. Further, IDC’s subsidiaries operate with

This unique concept is an extension of Sta. Lucia Land’s long-term strategy to create high quality, multi-use developments that offer both lifestyle benefits and financial rewards.

With Soto g r ande h o tel d avao, Sta. Lucia Land is not only expanding

features a beautiful swimming pool with comfortable sofa beds and parasols, providing the perfect place to relax under the d avao sun. The on-site Centro f i tness Club offers a fully equipped gym, along with a steam room and sauna, ensuring guests can stay active and unwind after a busy day. i nside the hotel, the rooms are designed to provide a warm, homey atmosphere with light, airy interiors and spacious layouts. Select rooms even feature balconies that overlook lush greenery, offering a peaceful retreat from the bustling city.

Soto g r ande h o tel d avao is not only a place to stay but also a smart investment. a s a condotel property, it offers both residential and accommodation units, providing guests and investors the opportunity to experience d avao’s vibrant lifestyle while securing potential income from property rentals.

visiting for a short stay or looking for a long-term investment, Sotog r ande h o tel d avao offers the perfect blend of comfort, convenience, and opportunity, making it an exciting addition to d avao’s thriving landscape.

“We will continue to

sustainability at its core, focusing on reducing energy and water c onsumption, incorporating renewable energy, and implementing s ystems like rainwater harvesting.

Back to basics

F OR y outhful architect Angelica F. Perez, the CEO and founder of A.P.& A Architectural Design s t udio, going back to the basics is the m ost important element in land acquisition. For the buyers, the first t hing to do is check the Comprehensive l a nd Use Program (C l U P) for the proper guidance.

A C l U P is a document that guides how land is used in a municipality. It’s a key planning tool t hat’s required by the l o cal Government Code.

I n case a client bought a site that is flood prone and is determined to build a house in that lot, Perez said their company will have to introduce mitigating measures such as elevating structures above flood levels, utilizing flood-resistant building materials, proper d rainage systems, landscaping techniques to manage water flow, among others.

Nevertheless, Perez said not all of their clients want to introduce green technologies into their homes because of monetary reasons.

Aside from using the C l U P, a property buyer should also factor primarily their budget, the location, and their lifestyle when investing in a property.

Johndorf Ventures Corp. officially enters the office market in Cebu City

Johndorf Ventures Corporation (JVC) proudly marks a new chapter in its growth with the o p ening Ceremony and Blessing of Johndorf Tower, its first corporate headquarters. This milestone event, held at Johndorf Tower on f e bruary 25, 2025, signifies JVC’s entry into the commercial real estate sector with a focus on providing high-quality office spaces in Cebu’s premier business district.

Setting a new standard for office spaces in Cebu

S Tan ding 21 stories tall, Johndorf Tower is a cutting-edge LEE d g o ld-certified office development designed to cater to the needs of i T-BPM firms, multinational corporations, and local enterprises. The building earned 61 out of 110 points under the LEE d v4 B d + C: Core and Shell rating system, demonstrating its commitment to sustainable construction and operations. a s a P EZ a -a ccredited building, it provides 16,000 sqm of leasable office space, with 1,300 sqm per floor in a warm shell hand-over condition—offering flexible, high-quality workspaces. Johndorf Tower is JVC’s first foray into the office space sector, reflecting the company’s confidence in Cebu as a prime destination for i T-BPM investments, strengthened by the presence of Cebu’s highly skilled labor force.

Strategically positioned for success

S T raTE gi C a L Ly p ositioned in Cebu Business Park, Johndorf Tower offers a prime address along Mindanao a v enue, ensuring convenient access to key commercial, residential, healthcare, and educational hubs. Within walking distance of a y ala Center Cebu, Seda ay ala Center Cebu, taxi stops, a PUJ terminal, and various commercial establishments, the tower is designed to support the 24/7 operations of i T-BPM companies.

i t s prime location offers professionals seamless access to essential business, retail, and lifestyle amenities, making it an ideal

workplace for companies requiring roundthe-clock operations.

Designed for the modern workplace

Johndorf Tower integrates cutting-edge design and sustainability features to enhance workplace efficiency and comfort.

Key highlights include:

n Expansive high ceilings and a stateof-the-art h VaC s ystem for superior indoor air quality and thermal comfort.

n Energy-efficient glass façades and an advanced building management system to optimize energy consumption and reduce operational costs.

n 43 percent indoor water use reduction, ensuring sustainable water management.

n o pt imized energy performance, achieving 10 out of 18 possible LEE d credits, contributing to long-term energy savings.

n h e at island reduction strategies, including reflective roofing and environmentally friendly building materials to minimize thermal impact.

n f u lly integrated security and access control systems, 100 percent backup genset power, rainwater collection systems, double-glazed windows, and

Road show set for FIVB Men’s Worlds

ALAS Pilipinas standouts

Eya Laure and Bryan Bagunas were introduced as Official Ambassadors and folk-pop band Ben&Ben as Official Music Partner as the country hosts the FIVB Men’s Volleyball World Championship Philippines 2025 in September.

Led by president Ramon “Tats” Suzara, the Philippine National Volleyball Federation (PNVF) unveiled the latest development on Tuesday during the official launch at The Vault in BGC in Taguig City to signal a six-month countdown before the historic conclave from September 12 to 28.

Laure and Bagunas will join the PNVF in a bevy of promotional tours here and abroad with Ben&Ben’s ‘Triumph’ serving as the official song all throughout the countdown until the 32-team world joust, which will be the country’s first-ever hosting and only the second appearance since 1974 edition in Mexico.

BBy Josef T. Ramos

ARANGAY Ginebra looks to secure its 32nd championship appearance in the Philippine Basketball Association as it tries to finish off struggling top seed NorthPort on Wednesday night in Game Four of the best-of-seven semifinals of the Commissioner’s Cup at the Araneta Coliseum. T he Gin Kings have won the first three games in convincing fashion and now look to complete a sweep, while the Batang Pier are expected to pour everything they’ve got to avoid an early exit. We have a team that doesn’t move back. We move forward, that’s the luxury we are taking advantage of,” Ginebra coach Tim Cone said.

Uy eyes Ultraman

JENNIFER AIMEE UY is setting her sights on the Ultraman World Championships after a fine display of physical and mental strength in the three-day Ultraman Florida.

Uy, one of only two women in the 30-athlete field, placed 27th, in the grueling race consisting of a 10km swim, 423km of cycling, and an 84km double marathon last month.

“I struggled on Day 3, and it all came down to an epic finish,” Uy recalled of her achievement in the three-day event last month in central Florida. “The entire crowd was waiting for me, pacing me through the final mile and cheering me on.”

Every athlete receives the same medal, and the final finisher is given special recognition for never giving up. Two competitors were unable to finish.

Uy completed Day 1 in 10:36:56—covering a 6.2-mile (10km) swim in 4:35:54, followed by a 90-mile (145km) bike ride in 6:01:02. On Day 2, she powered through a 171.4-mile (278km) bike leg in 11:47:56, and on Day 3, she conquered the 52.4-mile (84km) run in 11:58:21.

The Gin Kings won the series opener, 115-93, Game Two 119-106 and the third game, 127-100. Cone credited the whole team from starting unit down to the second stringers, and lauded the coaching staff which was able to handle the team well while he was busy with Gilas Pilipinas’ campaign in the last window of International Basketball Federation (FIBA) Asia Cup qualification. “Our first group is coming out and playing well but our second unit led by Jamie Malonzo and RJ Abarrientos are playing great,” Cone added. “They have been able to extend leads and break the back of the other team.” Malonzo erupted for 25 points and grabbed eight rebounds while Abarrientos had 10 points and 10 assists in Game Three. Justin Brownlee added

Her total event time across all three days was an impressive 34:23:13.

With a hilly bike course and the same grueling three-day format, the Ultraman World Championship in Hawaii in November demands even more from its competitors.

Uy is determined to become the first Filipino to complete the world championship course.

“I’ve learned a lot from my first Ultraman experience. I realized that my recovery was lacking—I wasn’t getting enough sleep, and my calorie intake wasn’t sufficient,” she said. “This time, I’ll be working with a nutritionist and training harder on high-elevation cycling to prepare for Hawaii’s tough terrain.”

Uy began participating in ultraendurance sports in 2016, winning her first 50km ultramarathon. She has since claimed numerous titles, including victories in the 264km Baguio-to-Luneta race and the 102km Bataan Death March in 2023. Seeking greater challenges, she transitioned to triathlons, completing her first full Ironman in 2017. arch

a huge boost for the volleyball community. We are learning a lot and it’s a huge opportunity for us to showcase Philippine volleyball,” added the 25-year-old Bagunas, a former University Athletic Association of the Philippines and Spikers’ Turf MVP who has also played in professional leagues in Japan and Taiwan. Bagunas is in the thick of his recovery from a left knee injury, making steady progress to full availability for the world championships as Alas takes on 11-time African champion Tunisia, current Africa titlist and Paris Olympian Egypt, and 2024 Asian Championship runner-up Iran in Group A. W

Ginebra looks to complete sweep of playoffs top seed Northport

22 points, eight rebounds and eight assists also in that game.

K adeem Jack, who is averaging 30.6 points and 8.3 rebounds, expects to get massive support from Joshua Munzon, Cade Flores, William Navarro and Fran Yu as they try to keep NorthPort in the hunt.

In the other matchup, Rain or Shine tries to knot the series to 2-2 when it battles TNT Tropang Giga at 7:30 pm.

The Elasto Painters are coming off a 103-98 win in Game Three behind Deon Thompson’s 19 points and 15 rebounds, Caelan Tiongson’s 19 points and Adrian Nocum’s 16 points.

T he Tropang Giga, relying heavily on Rondae Hollis-Jefferson’s 28 points, 12.6 rebounds, 5.0 assists and 2.0 steals per game, look to move a step closer to the finals.

Golden saga of Yulo & Fadriga

HERE is a heart-piercing piece on the saga of three gold medals won by two Filipinos on two different platforms on the global stage. A tale of 3 golds” by Ramon Uy, a well-respected businessman of Bacolod City, zeroes in on the irony of how multiple victories by two Filipinos could create a narrative that exposes a double-bladed appreciation of achievements that confronts the Filipino psyche.  Ramon’s masterpiece:

“THIS is a story of contrasts, of how similar results can generate vastly differing responses following stirring achievements by two world-class Filipino players.

Gymnast Carlos Yulo won two gold medals in the 2024 Paris Olympics. This brought attention and honor to the country, eliciting a well-deserved recognition for Yulo from the City of Manila, Congress, Senate, Multi-National Corporations and even the Office of the President—not to mention material rewards coming his way of gargantuan proportions.

“Meanwhile, farmer Christopher Fadriga also won a gold medal in Paris in 2021 in the International Competition on Cacao beans.  He clinched it with his entry, Criollo Cacao, a rare and almost extinct variety that was brought to the Philippines during the Galleon Trade between Mexico and the Philippines nearly 500 years ago.

“Despite this global feat, Fadriga was sadly unnoticed in his own country even as he received immense recognition from the international community.  His consolation was he got employment offers, received a constant stream of visitors from Japan and Europe, and drew various invitations to share his expertise to those willing to listen.

“Both Yulo and Fadriga possessed a passion in their areas of interest, worked hard and, with Spartan discipline, they overcame obstacles on their way to the top of the heap.

“Prior to his twin victories, Yulo’s talent was largely unnoticed and he had to train in Japan for seven years under a

KC VALINO made a stellar season debut as University of the Philippines blanked La Salle, 7-0, in six innings on Tuesday for its second straight win in the University Athletic Association of the Philippines Season 87 Softball tournament at the Rizal Memorial Baseball Stadium in Manila.

The senior pitcher limited the Lady Batters to just three hits in six innings of work, striking out three of the 21 batters she faced. Valino also contributed on offense, going 2-for-3 at the plate with two doubles, including a key hit that extended UP’s lead to 3-0 in the third inning.

The Fighting Maroons improved to 2-0, joining their Season 85 and 86 Finals rival Adamson University at the top of the standings. The two unbeaten teams will clash on Saturday at 10 a.m. Valino’s first double of the game drove in Generose Torremocha and Jaja Pascual. Her efforts helped UP finish with 10 hits, with first baseman Martine Francisco also collecting two.

Fourth-year head coach Ron Pagkaliwagan was thrilled with his team’s offensive production.

“I’m happy with the team because everyone is doing well, especially our hitters,” Pagkaliwagan said.

La Salle had its chances, particularly when Ciarina Eder broke through with a hit in the second inning. However, the rookie was left stranded when Valino caught Jeryll Duller’s shallow fly and turned an unassisted double play at first base.

THREE-TIME Asian Tour winner Angelo Que is among the featured attractions in GolfCon 2025 set this weekend at the Marriott grand ballroom exhibit floor.

The 46-year-old Que will serve as one of the coaches in Day 2 of the Masterclass, along with Ladies Philippine Golf Tour Order of Merit winner Harmie Constantino, Keena Puzon, Dan Cruz and Venjo Reyes. Que is coming fresh from his victory in the Pradera Verde Championship in Lubao, Pampanga, the opener of the PGT season.

Learning from the experts is just some of the things in store at the biggest golf convention to be hosted by the country in collaboration with the Department of Tourism.

The theme of the event set Saturday and Sunday from 10 a.m. to 8 p.m. is “Let’s Golf In The Philippines.”

“In partnership with the DOT, we really want to promote not just the brand or the sport, but the Philippines is a very viable destination for golf not just in Southeast Asia, but also on the global market. We really want people to know the industry players, professionals, coaches, there will be free clinics and

Japanese coach.  Yulo was motivated only by a burning desire to succeed in his chosen career.

Similarly, Fadriga was also discovered by a Japanese, who personally visited him in Bacolod and supported him.

Yulo and Fadriga would have gone unnoticed if not for this outside intervention.

“Fadriga, with a steely resolve to succeed, had diligently researched and experimented with the Criollo variety to become a world authority on cacao. Criollo was what the Aztecs offered to their gods—meaning they would only give the best to their gods.

“Upon further research, Fadriga discovered and verified, through sophisticated testing methods, that we still have remnants of the original strain of Criollo here in the Philippines.  To Fadriga’s pleasant surprise, he discovered that, through ‘nature’s wisdom,’ Criollo had been preserved and has remained unchanged through the centuries.

“Both Yulo and Fadriga had taken identical paths en route to success: They both participated in regional competitions, moved on to the national level and finally reached and gained success on the international stage.

“This raises an interesting question to our nation’s psyche.

Why the stark differences in responses?

Sponsorships, money, condos, name and fame to one of the pai.  But, cruelly to the other, only a mere footnote on the last page of the story.

“ Why would foreigners see what we could not see,

prompting them to come up with an opposite response to the screaming contrasts of ironies?

As I write this, Fadriga is in Turin, Italy, presenting his discovery and the possibilities it holds, with a lot of  chocolate buffs sampling—and savoring—his Criollo creations.

“This is not an attempt to downplay the achievements of Yulo, but only an honest exercise to re-examine our collective responses as a nation to a feat also worthy of our undivided attention.

“I t is time for us to wake up, circle the wagons and protect yet another national treasure from being hijacked by outsiders.

We are the only nation outside the South American amazon basin to be blessed with this brown gold aka Criollo. Our priority should be in preserving and strengthening our presence on the world cacao map.

“In short, without Fadriga, Criollo could have been lost forever to oblivion.

“It is now time to be proud and to think big.

“Give Fadriga his due. Now.”

THAT’S IT

PHILIPPINE

(center)

and Bryan Bagunas along with members of pop group Ben&Ben.