DESPITE the ongoing tariff war among the United States, Canada and China which is now threatening to disrupt global supply chains, Malacañang announced that the price of rice and pork are expected to drop this month.
Citing a report from Agriculture
Secretary Francisco Tiu-Laurel Jr., Palace Press Office Claire Castro said the price of rice is projected to decrease from P49 per kilogram (kg) to P45 per kg by 31 March 2025 due to lower international price of the food staple.
“For now, Secretary Laurel said
the world price [for rice] is decreasing,” Castro said in Filipino in a press briefing in the Palace on Wednesday, when asked what accounts for the expected drop in rice prices.
She said DA monitored the price of rice in the international market had significantly dropped from a high of US$740 per ton to between US$380 and US$400 per ton.
Based on its latest price monitoring report in major markets in Metro Manila, DA said the price of local regular milled rice is between P38 and P45 per kg, while for wellmilled rice, it is between P42 and P52 per kg as of 4 March 2025.
The retail price for imported regular milled rice is between P36
and P46 per kg, while imported well-milled riced is sold at between P44 and P47 per kg.
Last month, Laurel said they will consider raising the current 15-percent tariff for rice, as demanded by farmer groups, if the retail price for rice drops to P42 to P45 per kilo.
President Ferdinand Marcos Jr. issued Executive Order No. 62 last year, which cut down the tariff for rice from 35 percent to 15 percent to help stabilize the price of rice, which is one of the causes of food inflation.
Pork prices ASIDE from lower rice prices, Castro said the price of pork may also drop by March 10, 2025. Based on
the forecast from DA, the price for kasim (pork shoulder) and pige (ham) will drop to P350 to P360 per kilo, while liempo (pork belly) will drop to P380 per kilo.
Currently, DA said the retail price for pork ham is between P350 and P420 per kilo; for frozen kasim, it is between P230 and P290 per kilo; and for frozen liempo, it is between P290 and P350 per kilo.
The Philippine Statistics Authority (PSA) reported on Wednesday that food inflation in February slowed down to 2.6 percent from 4 percent last January. Castro made the announcement after US President Donald Trump’s
FEB INFLATION A 5-MO
LOW, BUT GOVT WARY
ROLLING BY THE RIVER’S REVIVAL A cyclist rides past the Pasig River Esplanade in Intramuros, Manila, where murals by National Artist Carlos “Botong” Francisco depict “A Glimpse of a Turbulent Past: Filipino Struggles Through History.” This artwork is a focal point for both locals and tourists. The esplanade is part of the broader Pasig River Rehabilitation Program, initiated in 1991 to restore the river’s ecological health and enhance urban spaces. Once declared biologically dead in the 1990s due to pollution, the Pasig River has seen significant improvements, with aquatic life returning and new public spaces like the esplanade fostering community engagement. NONIE REYES
By Reine Juvierre S. Alberto and Bless Aubrey Ogerio
THE drop in commodity prices in February creates room for potential monetary policy rate easing, lowering interest rates to provide cheaper borrowing costs for consumers and businesses, according to the country’s
Finance chief.
In a statement on Wednesday, Finance Secretary Ralph G. Recto said inflation dropping to 2.1 percent in February 2025 is a “major win” for lower-income households, providing relief on food items. “This will provide greater purchasing power for our people and stronger momentum for investments and growth,” said Recto, who also sits as a member of the Monetary Board. Still, he acknowledged that the government must remain on cautious mode, given the internal and external risks that could cause fresh spikes, and said the government will keep pushing with reforms and inflation-busting interventions. 2.1% in Feb, lowest in 5 months—PSA OVERALL inflation in the country eased in February, hitting a five-month low as food and nonalcoholic beverages posted a slower annual price increase, according to the Philippine Statistics Authority (PSA). The latest figure stood at 2.1 percent in February 2025, down from 2.9 percent in January 2025 and 3.4
By Andrea E. San Juan @andreasanjuan
THE Philippines has secured at least P23.5 billion in investments from Japanese firms which are expected to be poured into new and expansion projects across renewable energy, railways, fashion, IT, BPM, AI and entertainment sectors, according to the Department of Trade and Industry (DTI).
The DTI said global motor manufacturer Nidec Corporation, semiconductor manufacturer Ibiden Co., Ltd., Japanese business-to-business wholesaler Etoiler Kaito & Co.,Inc., and Japanese apparel retailer Adastria Co., Ltd., are some of the firms that signified interest to expand their presence in the Philippines.
In a statement sent to reporters via Viber, DTI said Special Assistant to the President on Investment and Economic Affairs Frederick Go and Trade and Industry Secretary Cristina
A. Roque led discussions with Nidec Corporation on March 3 to explore the expansion of its manufacturing footprint in the Philippines.
“Discussions centered on Nidec’s existing gearbox production and its strategic interest in venturing into humanoid robotics manufacturing, leveraging the Philippines’ skilled workforce and robust manufacturing ecosystem,” DTI noted.
Meanwhile, DTI said its discussions with Ibiden focused on the chips maker’s advanced substrate technologies, its current operations within the Philippines, and opportunities for strategic expansion.
“As the nation’s sole manufacturer of these critical components, Ibiden plays a vital role in producing high-value semiconductors, supplying industry leaders such as Intel,” DTI said.
DTI said Roque committed to “facilitating constructive engagement with international regulatory bodies, advocating
TBy Ada Pelonia @adapelonia
HE global quotations of commodities being imported and exported by the Philippines registered yearon-year increases in February based on the latest World Bank report.
Figures from the World Bank indicated that global prices of coffee varieties like arabica and robusta surged last month.
Arabica prices grew by 96.31 percent to $9.05 per kilo in February from $4.61 per kilo recorded in the same period of the previous year, while the global quotation of robusta variety jumped by 71.89 percent to $5.81 per kilo last month from $3.38 per kilo in 2024.
Global quotations of arabica and robusta coffee varieties in February were higher than the average prices last year at $5.62 per kilo and $4.41 per kilo, respectively.
Global cocoa prices also rose by 77.34 percent to $9.86 per kilo in February from $5.56 per kilo in the previous year. This showed a further increase from its average quotation in 2024 at $7.33 per kilo.
Data from the World Bank indicated that fertilizers like DAP and urea were more expensive in February than in the same period of 2024.
The price of DAP averaged $603.8 per
MT last month, higher than the $583.8 MT recorded in the previous year, while that
disseminates to all member countries so that airlines of all member countries may learn the lessons from these.”
‘Conflict of interest’
HE agreed on the need for a PTSB, patterned after the US National Transport and Safety Board: “In the commercial aviation industry, there is a major conflict of interest in the area of aircraft accident investigation. By the law that created the CAAP, the task of aircraft-accident investigation is entrusted to the Aircraft Accident Investigation Board [AAIB]. The conflict lies in the fact that the CAAP may have to investigate itself in case of an aircraft accident.”
He added, “Safety failure in aircraft accident often lies in the failure of the CAAP to provide the appropriate regulations. If they do, there is the possibility of failure in enforcing the regulations. [When] the Philippines was downgraded by the FAA and blacklisted by the EASA, many of the failures were found to be due to the many deficiencies of the Air Transportation Office, now the CAAP...[An independent PTSB] will have the power to investigate even the CAAP itself.”
Last October, then CAAP Director General Capt. Manuel Tamayo expressed confidence of passing the ICAO audit, saying the Philippines will “score higher than 75 percent in the upcoming audit in March 2025.”
The PTSB bill vetoed by Marcos Jr. in 2022, sought to establish an independent sevenmember board that will investigate air, road, railroad, and maritime accidents. Malacañang said then, the PTSB will just duplicate the functions of existing government agencies.
Ma. Stella F. Arnaldo
Thin supply prompts NGCP to put Luzon on yellow alert
By Lenie Lectura
THE National Grid Corporation of the Philippines (NGCP) on Wednesday placed the Luzon grid on yellow alert—the first for the year—due to thin supply.
A yellow alert is issued when the operating margin is insufficient to meet the transmission grid’s contingency requirement. The yellow alert was hoisted over the Luzon
grid from 5 to 7 pm.
The grid’s available capacity stood at 12,488 megawatts (MW) while peak demand reached 11,829MW.
The NGCP reported that eight plants have been on forced outage since February, and four other power plants were out since 2024; while 16 are running on de-rated capacities, for a total of 3,362.3MW unavailable to the grid.
The Visayas and Mindanao grids
DTI: Japanese firms to pour…
for industry needs while upholding stringent environmental standards.”
Roque also met executives from Etoile Kaito & Co., Inc. to “solidify” support for expanding the export of Philippine-made interior and lifestyle products.
“The company is currently diversifying its product portfolio by sourcing distinctive interior and lifestyle products made from indigenous materials like capiz shells and abaca,” said DTI.
Etoile Kaito & Co., Inc. will focus on exporting a range of products, including flower vases, gardening pots, wall decorations, and fashion accessories like abaca bags and small containers. According to DTI, the Japanese firm noted the “growing” international demand for Philippinesourced handmade Christmas décor during winter and the “sustained” popularity of abaca, capiz, and shell-finished interiors and accesso -
are under normal condition.
Meralco pitches Enercon MEANWHILE , the Manila Electric Company (Meralco) advised the public to practice energy efficiency measures to help manage the overall demand.
“In addition, we are ready to activate the Interruptible Load Program [ILP] if needed,” Meralco Spokesperson and Head of Corpo -
ries during summer.
Beyond sourcing, Roque said this Japanes wholesaler bared expansion plans that include introducing Japanese merchandise to the Philippine market through partnerships with established local distributors.
Meanwhile, Adastria Co., Ltd., a leading Japanese apparel retailer with a diverse portfolio of 45 brands, has announced its “strategic intent to significantly expand” its presence in the Philippines.
Roque said the company outlined plans to introduce more brands and explore local manufacturing opportunities.
“Building on the success of its ‘niko and…’ flagship store launched at SM Mall of Asia in December 2024, Adastria aims to open multiple new stores and introduce additional brands such as Global Work, Lowry’s Farm, and LAKOLE,” said DTI.
“As a company with a strong multi-brand strategy, Adastria operates numerous successful labels beyond ‘niko and...’, each catering to different consumer segments. Their expansion highlights the Philippines’ growing appeal as a retail investment destination,” Special Trade Representative (STR) Dita Angara-Mathay said in a statement.
The DTI has pledged comprehensive support to facilitate potential manufacturing investments, including production and export data on the Philippine clothing industry, facilitating introductions to reputable local exporters, and organizing factory visits to demonstrate
rate Communications Joe Zaldarriaga said. ILP is a demand-side management program through which large-load customers are asked to use their generator sets or reduce their operations, instead of drawing power from the grid. This is meant to spare households from power interruptions during instances of red alert, or when supply is insufficient to meet the demand.
the country’s advanced manufacturing capabilities.
New Japanese firms
DTI also noted that three Japanese firms across manufacturing and services sectors have expressed interest to establish operations in the Philippines.
“There are three, but two prefer not to disclose their names yet. One is Koshidaka Holdings,” DTI said.
Koshidaka Holdings is expected to start operations by the end of 2025 and the two unnamed firms will start operations in early 2026.
Roque also pointed out that the recently enacted CREATE More Law, which offers enhanced tax incentives, among others, has fueled the interest of Japanese firms to collaborate with Philippine firms in securing investment deals.
“The past few days have seen me, alongside SAPIEA Frederick Go, meeting with Japanese business leaders to encourage them to invest in the Philippines. Representing both the government and private sectors, those we engaged with expressed excitement and enthusiasm about collaborating with us, inspired by the positive developments they’ve heard about our country—our robust economic fundamentals and reformed policies and regulations,” Roque said.
The companies that Roque and Go met span “diverse industries,” including renewable energy, railways, fashion, IT BPM, Artificial Intelligence and even entertainment.
of the law will no longer be there and errant government officials will not be deterred.
“forthwith” means in the Constitution.
ConComm member’s take THE “forthwith” provision in the Constitution to immediately start the impeachment trial is a “command” and meant to deter abuses by government officials, call them to account, and preserve “constitutional government,” a member of the commission that drafted the 1987 constitution said.
Atty. Rene Sarmiento said in a radio interview that the delay in the trial Senate President Chiz Escudero wants is “unreasonable,” adding that all rules, laws, and policies “must bow to the Constitution” in line with the doctrine of constitutional supremacy. Otherwise, he said the “sting”
Why not March 15 or in April instead? he asked. Escudero wants the trial to start on July 30, roughly six months after the House submitted the articles of impeachment against Vice President Sara Duterte on February 5.
Escudero adjourned the Senate just an hour after receiving the articles although the chamber had two more days, up to February 7, in its legislative calendar. In Sarmiento’s view, there should be no delay in the impeachment trial as commanded by the Constitution because the issue of accountability in government is “important…[since] public office is a public trust.” He claimed many members of the constitutional commission are with him, that “forthwith” means dapat ituloy agad hindi nag-aatubili…[should proceed right away, without hesitation].” Butch Fernandez blanket 25-percent tariff for goods coming from Canada and Mexico and additional 10 percent tariffs for Chinese goods took effect last Tuesday. In retaliation, Canada slapped 25-percent tariff on US$20.7 billion worth of US goods, while China imposed 10 percent to 15 percent tariff on some agricultural products like chicken, wheat, corn, cotton, sorghum, soybeans, pork, and beef. The recent development, which is expected to reduce international trade volume, caused a significant drop in stock indexes worldwide as
August 2026. Moreover, the Department of Agriculture has also distributed fuel aid to 74.3 percent of 2023 beneficiaries, with 54.1 percent of 2024 recipients in the funding process.
Weighing SRP’s impact WHEN asked about setting a maximum suggested retail price (SRP), Canlas said, “It’s better for the government to launch a food-assistance program that targets the poor.” Lanzona, on the other hand, warned that price volatility persists amid global uncertainties, particularly under US President Donald Trump. “The country needs to strengthen domestic production, which is threatened by disincentives, such as increased imports and maximum SRPs. Farmers are less encouraged to produce if government continues to hold down prices.” Oplas, meanwhile, noted that while SRPs benefit consumers, producers must also be considered. “I would encourage the government to invest heavily in improving the agrologistics in the Philippines,” she said. “We should also encourage large-scale investment in livestock so that we don’t have to be dependent on import.”
For Manzano, SRP can be a shortterm fix, but with limitations, saying “SRP may discourage investments in the food industry which may affect future quantity of food production and prices.”
The inflation rate for the country’s bottom 30 percent income households dropped to 1.5 percent in February, down from 2.4 percent in January and 4.2 percent the same month a year ago—the lowest since March 2020, when it stood at 1.9 percent.
Fiscal measures
FOR HSBC Asean economist Aris Dacanay, February’s inflation data supports not only a continuation of the Bangko Sentral ng Pilipinas’ (BSP) easing cycle next quarter but also a policy rate cut regardless of the US Federal Reserve.
“With inflation finding itself within the lower-end range of the BSP’s target band, there is room for the economy to absorb any FX-induced inflation if the policy rate differential between the BSP and the Fed were to narrow,” he said.
Citi’s Philippine economist Nalin Chutchotitham revised their inflation forecasts for 2025 and 2026 to 2.6 percent (previously 3.2 percent) and 3.2 percent (previously 3.3 percent), respectively.
She said they expect headline inflation to rise to 2.2 percent in March, 2.6 percent in the Q2 and Q3 this year, and 2.7 percent in the fourth quarter of 2025.
“The modest upward trajectory that we forecast for the rest of 2025 largely reflects base effects from sequential softening in rice and energy prices between April to Dec 2024, even as we expect inflation momentum to remain subdued, largely on expected decline in crude oil prices,” Chutchotitham said.
Bank of the Philippine Islands senior vice president and lead economist Emilio Neri Jr. noted that slower inflation will benefit consumers by freeing up funds for both essentials and discretionary spending.
“Spending on other items usually deteriorates when rice prices are high. With rice prices now falling, consumer spending may see a notable recovery this year,” he said.
While easing inflation keeps the door open for BSP rate cuts, Neri cautioned that global uncertainties and the country’s current account deficit make the peso vulnerable. “Maintaining interest rates at appropriate levels may offset the impact of these uncertainties,” he added.
it raised concerns among investors. The National Economic and Development Authority (Neda) earlier said it is closely monitoring the effects of the trade war, particularly on its impact on inflation in the US, which can prompt the Federal Reserve to hike interest rates—and in turn also affect international interest rates.
A4
Thursday, March 6, 2025
Economy
www.businessmirror.com.ph
Groups back continued use of Edsa busway
By Butch Fernandez, @butchfBM
Jonathan L. Mayuga
@jonlmayuga
& Lorenz S. Marasigan
T@lorenzmarasigan
HE Move As One Coalition has thrown its support behind Transportation Secretary Vince Dizon’s decision to keep the Edsa Busway operating despite the extensive road rehabilitation scheduled along Metro Manila’s busiest thoroughfare.
The advocacy group lauded Dizon’s stance that public transport should remain a priority, even as the Department of Public Works and Highways (DPWH) undertakes a major overhaul of Epifanio delos Santos Avenue’s northbound and southbound lanes starting late March.
Move As One Coalition co-convenor Robert Siy said Dizon “delivered the clear message that public transport deserves priority on public roads at all times.”
He lauded Dizon’s decision as “sound management of our road assets, delivering the greatest good for the greatest number,” emphasizing
that 94 percent of Filipinos do not own private cars and rely on public transportation, walking, or cycling to get around.
The coalition highlighted that prioritizing people mobility over private vehicles aligns with the Philippine Development Plan 2023-2028, which states that pedestrians and cyclists should be given the highest priority in road use hierarchy.
The DPWH plans to repair the busway’s northbound and southbound lanes throughout 2025. Dizon earlier recalibrated the government’s approach to the Edsa Busway system, prioritizing the upgrading of stations and passenger facilities before turning over its operations to the private sector under a public-private partnership (PPP).
The 21 remaining stations will be modernized using the designs of the SM North Edsa and SM Megamall model stations as benchmarks. Bidding for the improvements is expected to begin in May, with construction starting in the second half of the year.
In addition, larger concourses will be built to improve passenger flow, particularly at MRT-connected stations like Santolan. While these major
SC summons House appropriations panel chairman to hearing on GAA
Tinfrastructure projects could extend until 2026 or 2027, Dizon remains optimistic that a fully modernized Edsa Busway system can be achieved within President Marcos’ term.
As of Wednesday, the DOTr said motorists should “expect faster travel on the Edsa Busway as 23 timers at various stations have been fixed to ensure a smooth and continuous flow of buses, allowing passengers to reach their destinations more quickly.”
Furthermore, enforcers have been deployed at each station to ensure the efficient movement of buses.
Counterflow
FORMER senator Panfilo Lacson has pushed his proposal to reverse the direction of the movement of buses on the busway at Edsa by citing a new justification: Commuters stand to benefit from an added safety feature from it, because they can get off at the center island and avoid being hit by cars.
Lacson said on Wednesday that with the proper infrastructure in place, commuters can get off at the center island instead of along the highway, since the buses’ doors are on the
Enrolled bill.
right side. “This way, there’s no risk of them being hit by oncoming vehicles.
“The buses’ doors are on the right side. So if you reverse the traffic flow at the busway, passengers getting off the right side would end up at the center island, that way they will be safer,” he said in a radio interview. Commuters will not be in danger of being hit by oncoming vehicles when they get off.”
Lacson initially proposed the counterflow at the busway to end its rampant abuse by unauthorized vehicles, saying no one wants to collide with a bus.
In pushing his proposal to reverse the direction of buses using the busway, Lacson noted that such a system is in use in other cities like Taipei.
“The system is in use in Taiwan and it’s working well. I think it’s worth studying if it can be adopted here. If it is adopted here, who would want to be ‘exempted’ at the risk of a headon?” he said.
Busway audit
VARIOUS groups conducted a citizens’ audit to rate the accessibility, safety, and convenience offered by the Edsa Carousel to the commuting public, including senior citizens, pregnant
women, and persons with disability (PWD).
The audit was dubbed “Citizens’ Audit of the EDSA Busway for Inclusion, Accessibility, and Safety” in front of the Mega QMart, Edsa Northbound, in barangay E. Rodriguez, Quezon City, and involved on-site inspections, surveys, and consultations with affected individuals.
“The primary objective of the citizen’s audit is to raise public awareness of the challenges faced by persons with disabilities, senior citizens, pregnant women, and commuters. The focus will be on the Edsa Busway and its impact on inclusion, accessibility, and safety for PWDs, other vulnerable sectors, and the commuting public in general. We would greatly appreciate the opportunity to collaborate with your organization and enhance our collective efforts to hold the government accountable for its actions and inform the public,” the group called Partnership for Inclusion accessibility and Safety in Edsa (Piase) said in a statement.
Joining the group are leaders and representatives of various groups,
DMW forges pact with church-based group
including PWDs, senior citizens, commuters, bikers, and transport groups, who expressed support behind the call to revisit the Edsa Carousel and transform it to a more accessible, safe, and comfortable means of mass public transportation for the disadvantaged sector. Result of the survey indicate that PWDs and other disadvantaged indivisuals are not able to use or avoid using the Edsa Carousel because of the steep stairs, lack of elevators, and ramp for wheelchairs as mandated by accessibility laws. Aside from the difficulty of going to the different EDSA Carousel Stations mostly found underneath the elevated Metro Rail Transit (MRT) tracks, commuters also blasted the absence of public toilets and waiting areas for the passengers waiting for their turn to ride the bus.
“Even the abled bodied are avoiding the EDSA busway, what more for PWDs, pregnant women, senior citizens and mothers with children in tow? ( Maski mga walang kapansanan umiiwas sa Edsa Carousel. Paano
By Joel R. San Juan @jrsanjuan1573
HE Supreme Court (SC) has compelled the appearance of the House of Representatives’s Committee on Appropriations chairperson, Marikina Rep. Stella Quimbo, at the April 1 oral argument on the petition seeking to declare as unconstitutional Republic Act 12116 or the 2025 General Appropriations Act (GAA).
Former Executive Secretary and now senatorial aspirant, lawyer Victor Rodriguez said the order was issued by the
Court during the preliminary conference on the case held on Wednesday at the SC en banc session hall in Manila. Rodriguez and Davao City Rep. Isidro Ungab earlier filed the petition assailing the 2025 GAA.
Aside from Quimbo, also summoned by the15-man Court were the members of the technical working group of the Senate and the House.
Earlier, the Court directed both houses of Congress and the Palace to submit the original copy of the 2025 General Appropriations bill and the original copy of the 2025 General Appropriations
It has also directed respondents— Speaker Ferdinand Martin Romualdez, Senate President Senate President Francis Escudero and Executive Secretary Lucas Bersamin—to comment on the petition. In their petition, Rodriguez and Ungab claimed that the 2025 GAA is unconstitutional for failing to allocate mandatory funding for PhilHealth, unlawfully increasing appropriations beyond the President’s recommendations and allocating the highest budget to infrastructure over education.
Specifically, the petitioners said the 2025 GAA violated Article XIV, Section 5 (5) of the Constitution as the budget appropriations to the education sector were merely bloated to give the impression of a “superficial adherence to the constitutional mandate” to assign the highest budgetary priority to education.
They added that the 2025 GAA also violated Article VI, Section 25 (1) of the Constitution when the respondents aligned the proposed appropriations under the 2024 National Expenditure Program (NEP), which in effect increased the proposed budget appropriations for Congress and other line agencies.
The 2025 budget, according to the petitioners, also violated Article VI, Section 27 of the Constitution when the Bicameral Conference Committee submitted a report with blank items on the GAA bill.
TBy Samuel P. Medenilla @sam_medenilla
HE Department of Migrant Workers (DMW) has forged a new agreement with Global Filipino Movement Foundation, Inc. (GFM) for the establishment of more help desks for overseas Filipino workers (OFW).
Migrant Workers Secretary Hans Leo J. Cacdac and GFM Chairman Efraim M. Tenedero signed the Memorandum of Agreement (MOA) on Monday at the DMW Central Office in Mandaluyong City.
Cacdac welcomed the new partnership since it will allow more OFWs to access
their services.
“It’s all about the programs and services for OFWs and their families. Our role is to carry the torch, sharing it with our OFW families and children, and working together with our social partners for the activities aimed at empowering our OFWs, including their children.”
Under the agreement, DMW will put up more OFW Help Desk Centers in strategic local and overseas locations and provide GFM with helpful information and materials for its programs to empower of OFWs and their families.
The agency will also provide resource persons for the training of trainers among
Water generator factory to rise in Camarines Sur
By Jovee Marie N. dela Cruz @joveemarie
ASENIOR lawmaker on Wednesday said the provincial government of Camarines Sur has teamed up with Italian innovator Veragon Technologies to establish Southeast Asia’s first atmospheric water generator (AWG) manufacturing hub, converting water vapor into pure, safe drinking water.
Camarines Sur Rep. Luis Raymund Villafuerte said the AWG facility is expected to boost the local economy by generating jobs and reducing reliance on traditional water sources, as well as cutting plastic waste from bottled water consumption. Veragon, a global leader in sustainable water solutions, has developed AWG technology used by institutions such as the United Nations (UN) and North Atlantic Treaty Organization (Nato), with ongoing trials by the United States (US) and United Kingdom (UK) armed forces.
“On top of providing water, especially in communities with scant access to this essential resource or in villages struck
migration stakeholders and conduct seminars on migration awareness, antiillegal recruitment and trafficking in persons (Airtip), financial seminars, and safe and legal migration. For its part, GFM will conduct Airtip awareness programs in local governments, and capability enhancement training for staff tasked at OFW Help Desks. The non-stock and non-profit foundation will also hold migration awareness programs in barangays, churches, and educational institutions on the risks and challenges of overseas work, including its effect on families left behind.
GFM is a foundation that collaborates with Christian churches and stakeholders to support OFWs and their families.
by natural or man-made disasters, this pioneering project on Veragon’s cuttingedge AWG will advance the Marcos administration’s decarbonization agenda as this technology’s use of renewable energy in the water purification process will help reduce our country’s carbon footprint for environmental sustainability,” Villafuerte said.
Villafuerte, a principal author of Republic Act 11898, or the Extended Producer Responsibility (EPR) Act of 2022, highlighted how this project aligns with efforts to address plastic pollution and move toward a circular economy.
Villafuerte underscored that the project puts Camarines Sur at the forefront of
See “Water,” A5
Searchers find wreckage of Air Force jet, bodies of 2 pilots
TBy Rex Anthony Naval
HE Air Force (PAF) on Wednesday confirmed that the wreckage of the missing FA-50PH jet fighter has been located at the Mount Kalatungan Complex in Bukidnon even as it announced the death of the two pilots flying the aircraft. In a statement, the PAF spokesperson, Col. Maria Consuelo Castillo, said wreckage of the ill-fated aircraft was located by ground troops on Wednesday.
“With deep regret and profound sadness, the PAF announces the loss of the two pilots aboard,” she added. Castillo also said the full-scale searchand-rescue operation, started on March 4 when the Korean-man jet fighter was first reported missing, with PAF, Army and local civilian volunteers scouring the mountains of Bukidnon.
“The operation prioritized pilot recov -
ery. Utilizing signals from the aircraft’s emergency locator transmitter and locator beacons, PAF aircraft conducted aerial searches. Despite challenging conditions, including dense fog and difficult terrain, PAF helicopters successfully deployed Army Special Forces and civilian volunteers for ground searches,” she added.
With this development, Castillo said the PAF has grounded its FA-50PH fleet and will ensure a thorough investigation
into the accident.
“We are committed to provide all the necessary support to the bereaved families during this difficult time. Meanwhile, we also request the nation’s prayers for the eternal repose of our fallen pilots, whose service and heroism we deeply honor,” she added.
Earlier, Castillo said the jet went missing while about to conduct a tactical night operation on Tuesday.
“Shortly after midnight on March 4,
House leaders welcome inflation drop
TWO leaders of the House of Representatives on Wednesday vowed to continue working to ensure that the downward trend in inflation results in more savings and better opportunities for the people.
Speaker Ferdinand Martin Romualdez and the House Committee on Ways and Means chairman, Albay Rep. Jose Clemente “Joey” Sarte Salceda, made separate statements after the Philippine Statistics Authority (PSA) reported that inflation further eased to 2.1 percent in February from 2.9 percent in January, marking a sustained downward trend that reflects improving economic conditions.
“This is great news for every Filipino family. The continued drop in inflation—from 2.9 percent in January to 2.1 percent in February—proves that President Marcos’ economic team is getting the job done,” Romualdez said.
He underscored the administration’s unwavering commitment to
food security and economic stability, with the House of Representatives actively supporting these initiatives through key legislative measures aimed at reducing the cost of living.
“The Marcos administration has remained laser-focused on stabilizing prices, ensuring food security, and protecting the purchasing power of our people. We in the House of Representatives fully support these efforts by passing laws that make life easier for ordinary Filipinos— whether it’s lowering food costs, ensuring stable energy prices, or creating more jobs,” Romualdez said. Romualdez highlighted the government’s decisive actions in addressing rice prices, smuggling, and hoarding as crucial steps in curbing inflation. He cited the role of the House Quinta Committee (Quinta Comm) in investigating irregularities and ensuring that essential goods remain affordable and accessible to
consumers.
The Speaker assured the public that the government remains committed to sustaining this momentum and ensuring that inflation continues to decline, translating to more financial relief for households.
“This is just the beginning. We will continue working to make sure that this downward trend in inflation translates to more savings, better opportunities, and an improved quality of life for every Filipino,” Romualdez said.
Assuring the public of the government’s commitment to maintaining this momentum, Romualdez emphasized that further inflation reductions would translate into greater financial relief for households.
Encouraging news
FOR his part, Salceda hailed the country’s February inflation rate of 2.1 percent as a significant economic achievement, emphasizing that the
more encouraging news is the nearly 5 percent year-on-year decline in rice prices.
“I take this as a sign that we can continue with our rate cuts and pursue a more aggressive expansionary stance on the fiscal side,” Salceda said, expressing optimism about sustaining economic momentum.
While celebrating the positive inflation data, Salceda underscored the importance of supply-affirming initiatives such as improvements in farm inputs and logistics. He noted that the country’s highly volatile fruit and vegetable sector would greatly benefit from expanded cold storage facilities, which the administration has prioritized.
Moving forward, Salceda said several critical economic measures are needed to ensure long-term stability and growth, including enhancing port infrastructure and inter-island trade, revitalizing the fisheries sector, ensuring industry
Group calls out erring party-list groups for nailing posters on trees
By Jonathan L. Mayuga @joveemarie
S the Commission on Elections
A(Comelec) announced its plan to issue notices to 36 erring party-list groups for violating rules on campaign posters, a waste and pollution watchdog deplored the use of trees for display of campaign materials by some party-list groups.
EcoWaste Coalition said the act of nailing campaign materials on the trunks or branches of trees is deplorable and that those who continue to practice it should be held accountable.
The poll body earlier said the erring party-list group have seemed to ignore or defy its rules in putting up campaign posters.
“Their campaign materials have the wrong sizes, are not environmentally-friendly, and are in the wrong places,” said Comelec Chairman George Erwin Garcia.
New
law
Meanwhile, based on the monitoring it conducted last Sunday, EcoWaste Coalition found trees in portions of Onyx Street (from Pedro Gil Street to Augusto Francisco Street) and Aurora Boulevard (Barangay 375, Zone 38) in the City of Manila plastered with campaign tarpaulins from at least five partylist groups.
“We are saddened to see the trees harmed in the name of election propaganda,” said Jove Benosa, programs and projects manager of EcoWaste Coalition. “The streets where these trees are planted are two of the few remaining ones in the City of Manila with full grown trees on the center island and on sidewalks of both sides of the street.”
“We call upon the leaders of these party-list groups to remove their campaign tarpaulins on trees and other prohibited places, and to ensure that their party workers and supporters abide by Comelec
Resolution 11111,” he said.
Comelec Resolution 11111, among other provisions, strictly prohibits the posting of campaign materials on planted or growing trees, flowering plants and shrubs or plants of scenic value along public roads, in plazas, parks, school premises or in any other public ground.
Comelec Resolution 11086 on the other provides that, “in cases where parties and candidates still persist in displaying, posting, or exhibiting their campaign or election propaganda on trees and plants, they shall be prosecuted for violation of these Rules, without prejudice to the institution of a criminal complaint for the violation of Republic Act 3571.”
RA 3571 provides for the punishment of prision correccional to prision mayor for any person who shall destroy or injure trees, flowering plants, and shrubs as mentioned in the said law.
EcoWaste Coalition and the
eases tertiary education equivalency
P RESIDENT Marcos signed Republic Act 12124, institutionalizing the expanded tertiary education equivalency and accreditation program (Eteeap) last Monday to allow more Filipinos to earn degrees through nontraditional means.
The new law designates the Commission on Higher Education (CHED) as the lead agency in implementing the Eteeap, which allow higher education institutions (HEI) to give degrees to those with informal learning such as relevant workplace experience and nonformal learning like non-credit courses without going through traditional schooling methods.
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 reestablish contact with the missing aircraft until its return to Mactan, Cebu,” she added.
Interfacing Development Interventions for Sustainability (Idis) earlier emphasized the all-important role of trees in the environment and society and, thus, the need for a concerted action to nurture and protect them. Among other benefits, trees support wildlife and people; offer humans with food and other essentials to stay alive and well; clean the air; stabilize and control soil erosion; conserve water; prevent and reduce flooding; mitigate the devastating effects of typhoons; provide shade, cool and beautify the surroundings; and absorb greenhouse and other harmful gases amid the global climate emergency, the groups emphasized.
The groups appealed to all aspirants and candidates not to nail, pin or staple campaign materials on trees, which can damage the bark and puncture the inside of the tree and make it vulnerable to insects and diseases.
equivalency of learning is sought.
designate at least one Eteeap Center of Development and Excellence per region.
To qualify for the program, the applicant must be a Filipino citizen, at least 23 years old at the time of application, completed secondary school program, as evidenced by a high school diploma or a result of the Philippine Educational Placement Test or Alternative Learning System Accreditation and Equivalency Assessment and Certification, stating that the individual concerned is qualified to enter college.
CHED will also establish and
CHED will have the power to grant and revoke authority to HEIs to implement the Eteeap. It can also set the standards for conducting the program, as well as the amount of administrative charges for accreditation of HEIs with Eteeap. It is also tasked to monitor and evaluate the implementation of Eteeap and convene inter-agency consultations for policy implementation and evaluation of the said program. The Commission is also mandated to allocate and make available student financial assistance programs to Eteeap learners and promote the program through information campaign.
“Opportunity,
They must also have at least five years of aggregate work experience in the industry related to the academic degree program or discipline where
in the country, the
HEIs may be deputized by CHED as an Eteeap providers if it is a Center of Excellence or Center of Development in the program or discipline to be offered through the program.
For state universities and colleges, they must have at least Level II category to be deputized by CHED as an Eteeap provider, while for private HEIs they must be granted autonomous or deregulated status to be given the same recognition.
CHED first implemented Eteeap through Executive Order 330, series of 1996, which is meant to encourage non-formal, informal and indigenous learning systems and self-learning.
As of January 2022, there were 101 HEIs nationwide, which were deputized by CHED to offer Eteeap. Samuel P. Medenilla
resilience, and creating a high-standard highway network and Bicol rail.
Salceda said more ports and lower inter-island trade costs are necessary to improve the country’s supply chain efficiency.
Salceda also suggested revisiting the Cabotage Law, which currently restricts foreign shipping companies from participating in Philippine inter-island trade. He believes repealing restrictive provisions could enhance competition and lower domestic shipping costs.
Castillo also said this was the first major incident involving the FA-50PH fighter aircraft.
The FA-50PH 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-to-air missiles, including the AIM-9 “Sidewinder” air-to-air and heat-seeking missiles aside from light automatic cannons.
The Philippines acquired 12 FA50PH fighters from the Korea Aerospace Industries for P18.9 billion during the Benigno Aquino III administration. These were delivered from 2015 to 2017.
“We should also look at our rapidly deteriorating fish capture sector and see how we can make this more sustainable through aquaculture,” Salceda added. B efore the administration ends, Salceda stressed the importance of jumpstarting the High Standard Highway Network program to establish a robust road transport backbone across the country. He also highlighted the necessity of financing the Bicol rail project to enhance connectivity and economic activity in the region. Jovee Marie N. dela Cruz
Trump’s tariffs trigger global trade war, sparking retaliation and market turmoil
By Josh Boak, Paul Wiseman & Rob Gillies The Associated Press
WASHINGTON—President
Donald Trump launched a trade war Tuesday against America’s three biggest trading partners, drawing immediate retaliation from Mexico, Canada and China and sending financial markets into a tailspin as the US faced the threat of rekindled inflation and paralyzing uncertainty for business.
Just after midnight, Trump imposed 25 percent taxes, or tariffs, on Mexican and Canadian imports, though he limited the levy to 10 percent on Canadian energy.
Trump also doubled the tariff he slapped last month on Chinese products to 20 percent.
Beijing retaliated 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.
In an address to Congress Tuesday night, Trump repeated two different explanations for his tariffs on Canada and Mexico. He cited the trade deficits the US has with both countries, but also said, “they’ve allowed fentanyl to come into our country at levels never seen before, killing hundreds of thousands of our citizens.”
Trump also acknowledged there could be “a little disturbance” from the tariffs, perhaps an acknowledgment of the stock market’s sharp falls in the past two days.
“It may be a little bit of an adjustment period,” he said after claiming that farmers would benefit from reciprocal tariffs on countries that have tariffs on US exports. “You have to bear with me again and this will be even better.”
Canadian Prime Minister Justin Trudeau said his country would plaster tariffs on over $100 billion
(US dollars) worth of American goods over the course of 21 days.
“Today the United States launched a trade war against Canada, their closest partner and ally, their closest friend. At the same time, they are talking about working positively with Russia, appeasing Vladimir Putin, a lying, murderous dictator. Make that make sense,” Trudeau said.
Later in the day, Commerce Secretary Howard Lutnick said the US would likely meet Canada and Mexico “in the middle,” with an announcement coming as soon as Wednesday.
Lutnick told Fox Business News that the tariffs would not be paused, but that Trump would reach a compromise.
“I think he’s going to figure out, you do more, and I’ll meet you in the middle in some way,” Lutnick said.
A Canadian senior government official said Lutnick called Ontario Premier Doug Ford after Ford’s press conference and asked him to stand down. The official, who spoke on condition of anonymity because they were not authorized to speak publicly about the call, said Ford told the US commerce secretary he’ll go harder.
The official said Lutnick told Ford that Trudeau’s “very dumb” comment and remarks by other Canadian officials were not help -
ful, but said Lutnick seemed to acknowledge the tariffs are a part of negotiation toward a trade deal.
A senior Canadian official said Trudeau told the premiers of Canada’s provinces that he hopes to speak to Trump on Wednesday. The official spoke on condition of anonymity because they were not authorized to speak publicly about the call.
Mexican President Claudia Sheinbaum said Mexico will respond to the new taxes with its own retaliatory tariffs. Sheinbaum said she will announce the products Mexico will target on Sunday. The delay might indicate that Mexico still hopes to de-escalate Trump’s trade war.
The president is abandoning the free trade policies the United States pursued for decades after World War II. He argues that open trade cost America millions of factory jobs and that tariffs are the path to national prosperity. He rejects the views of mainstream economists who contend that such protectionism is costly and inefficient.
Import taxes are “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.
“And now we’re using them.”
Dartmouth College economist Douglas Irwin, author of a 2017 history of US tariff policy, has calculated that Tuesday’s hikes will lift America’s average tariff from 2.4 percent to 10.5 percent, the highest level since the 1940s. “We’re in a new era for sure.”
As the trade disputes escalated, stocks racked up more losses Tuesday on Wall Street, wiping out all the gains since Election Day for the S&P 500. Markets in Europe also fell sharply.
Trump has said tariffs are intended to address drug trafficking and illegal immigration. But he’s also said the tariffs will come down only if the US trade deficit narrows.
The American president has injected a disorienting volatility into the world economy, leaving it off balance as people wonder what
he will do next.
During his first term, Trump imposed tariffs only after lengthy investigations—into the national security implications of relying on foreign steel, for example, said Michael House, co-chair of the international trade practice at the Perkins Coie law firm.
But by declaring a national emergency last month involving the flow of immigrants and illicit drugs across US borders, “he can modify these tariffs with a stroke of the pen,’’ House said. “It’s chaotic.”
Democratic lawmakers were quick to criticize the tariffs.
“Presidents don’t get to invent emergencies to justify bad policies,” said Rep. Gregory Meeks, the top Democrat on the House Foreign Affairs Committee. “Abusing emergency powers to wage an economic war on our closest allies isn’t leadership—it’s dangerous.”
Even some Republican senators raised alarms. “Maine and Canada’s economy are integrated,” said Sen. Susan Collins, R-Maine, explaining that much of the state’s lobsters and blueberries are processed in Canada and then sent back to the US.
Truck driver Carlos Ponce, 58, went about business as usual Tuesday morning, transporting auto parts from Ciudad Juarez, Mexico, to El Paso, Texas, just as he’s done for decades.
Wall Street falls again as losses wipe out post-election gains for S&P 500
SBy Damian J. Troise & Alex Veiga Ap Business Writers
TOCKS racked up more losses on Wall Street Tuesday as a trade war between the US and its key trading partners escalated, wiping out all the gains since Election Day for the S&P 500. The Trump administration imposed tariffs on imports from Canada and Mexico starting Tuesday and doubled tariffs against imports from China. All three countries announced retaliatory actions, sparking worries about a slowdown in the global economy. The S&P 500 fell 1.2 percent, with more than 80 percent of the stocks in the benchmark index closing lower. The Dow Jones Industrial Average slid 1.6 percent. The Nasdaq composite slipped
0.4 percent. The tech-heavy index briefly reached a 10 percent decline from its most recent closing high, which is what the market considers a correction, but gains for Nvidia, Microsoft and other tech heavyweights helped pare those losses.
Financial stocks were among the heaviest weights on the S&P 500 index. JPMorgan Chase fell 4 percent and Bank of America lost 6.3 percent.
Markets in Europe fell sharply, with Germany’s DAX falling 3.5 percent as automakers saw sharp losses. Stocks in Asia saw more modest declines.
“The markets are having a tough time even setting expectations for what this trade war could look like,” said Ross Mayfield, investment strategy analyst at Baird. “This is clearly a level step higher than anything we saw during (Trump’s) first term.”
The market could soon face more twists in the tariff drama. President Donald Trump addresses a joint session of Congress Tuesday night. After the closing bell, Commerce Secretary Howard Lutnick told Fox Business News that the
US would likely meet Canada and Mexico “in the middle” on tariffs, with an announcement coming as soon as Wednesday.
The recent decline in US stocks has wiped out all of the markets’ gains since Trump’s election in November. That rally had been built largely on hopes for policies that would strengthen the US economy and businesses. Worries about tariffs raising consumer prices and reigniting inflation have been weighing on both the economy and Wall Street.
The tariffs are prompting warnings from retailers, including Target and Best Buy, as they report their latest financial results. Target fell 3 percent despite beating Wall Street’s earnings forecasts, saying there will be “meaningful pressure” on its profits to start the year because of tariffs and other costs.
Best Buy plunged 13.3 percent for the biggest drop among S&P 500 stocks after giving investors a weaker-than-expected earnings forecast and warning about tariff impacts.
“International trade is critically important to our business
Like many on the border, he was worried about the fallout from the tariffs. “Things could change drastically,” Ponce said. Truckers could lose their jobs or have to drive farther to coastal ports as Mexican manufacturers look for trading partners beyond the US.
Alan Russell, head of Tecma, which helps factories set up in places like Ciudad Juarez, is skeptical that Trump’s tariffs will bring manufacturing back to the United States.
“Nobody is going to move their factory until they have certainty,” Russell said. Just last week, he said, Tecma helped a North Carolina manufacturer that moved to Mexico because it couldn’t find enough workers in the United States.
US businesses near the Canadian border scrambled to deal with the impact. Gutherie Lumber in suburban Detroit reached out Tuesday to Canadian suppliers about the cost of 8-foot wood studs. About 15 percent of the lumber at the Gutherie yard in Livonia, Michigan, comes from Canada. Sales manager Mike Mahoney said Canadian suppliers are already raising prices. “They’re putting that 25 percent on studs.’’ Builders will strain to stay within their budgets.
After years of effort and thou -
and industry,” said Best Buy CEO Corie Barry.
Barry said China and Mexico are the top two sources for products that Best Buy sells, and it also expects vendors to pass along tariff costs, which would make price increases for American consumers likely.
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.
Retaliations were swift.
CHINA responded to new US tariffs by announcing it will impose additional tariffs of up to 15 percent on imports of key US farm products, including chicken, pork, soy and beef, and expanded controls on doing business with key US companies. Canada plans on slapping tariffs on more than $100 billion of American goods over the course of 21 days. Mexico also plans tariffs on goods imported from the US.
Companies in the S&P 500 are wrapping up the latest round of quarterly financial reports.
sands of dollars in investment, Tom Bard, a Kentucky craft bourbon distiller, gained a foothold in the Canadian provinces of British Columbia and Alberta and watched his sales grow north of the border. Now Kentucky bourbon is in Canada’s crosshairs, and an order from his Canadian distributors is on hold.
“That hurts,” he said. At his small distillery “every single pallet that goes out the door makes a huge difference...The last thing you want is to have an empty spot where your bottles are supposed to be on a shelf.”
Bard co-owns the Bard Distillery with his wife, Kim, in western Kentucky’s Muhlenberg County, about 135 miles (217 kilometers) southwest of Louisville, Kentucky. Trump overwhelmingly carried Kentucky in the November election. In Muhlenberg County, Trump defeated Kamala Harris by a more than 3-to-1 margin. The China tariffs also threaten the US toy industry. Greg Ahearn, president and CEO of the Toy Association, said the 20 percent tariffs on Chinese goods will be “crippling,” as nearly 80 percent of toys sold in the US are made in China.
Rachel Lutz owns the Peacock Room, four women’s boutique shops with about 15 employees in Detroit. She’s been bracing for the tariffs but doesn’t understand the logic behind them.
“I’m struggling to see the wisdom in picking a fight with our largest trading partner that we’ve had historically wonderful relationships with,” Lutz said Tuesday from her shop. “I’m struggling to really understand how they can’t see that will profoundly impact our economy in ways that I think the American consumer has not predicted. We’re about to find out.”
Gillies reported from Toronto. Associated Press writers Anne D’Innocenzio in New York; Corey Williams in Detroit; Bruce Schreiner in Louisville, Kentucky; Christopher Rugaber, Didi Tang and Lisa Mascaro in Washington; and Megan Janetsky and Maria Verza in Mexico City contributed to this report.
They’ve posted broad earnings growth of 18 percent for the fourth quarter. But Wall Street has already trimmed expectations for the current quarter to about 7 percent growth from just over forecasts of 11 percent at the beginning of the year.
“The hit to growth is more of the commentary that we’ll be looking for from companies,” said Kevin Gordon, senior investment strategist at Charles Schwab. Concerns about profits follow a series of economic reports with worrisome signals that include US households becoming more pessimistic about inflation and pulling back on spending. Consumer spending has essentially driven US economic growth in the face of high interest rates.
Wall Street has been hoping that the Federal Reserve would continue lowering interest rates in 2025. The central bank has signaled more caution, though, partly because of uncertainty surrounding the economic impact of tariffs. The Fed is expected to hold rates steady at its upcoming meeting later in March. AP
PRIME Minister Justin Trudeau holds a news conference on imposed US tariffs as Foreign Affairs
Minister Melanie Joly, Finance Minister Dominic LeBlanc and Public Safety Minister David McGuinty look on in Ottawa on Tuesday, March 4, 2025. ADRIAN WYLD /THE CANADIAN PRESS
Pope stable with no new respiratory crises but will sleep with ventilation mask, Vatican says
By Nicole Winfield The Associated Press
ROME—Pope Francis was in stable condition Tuesday and breathing with just the help of supplemental oxygen after respiratory crises a day earlier, but will resume using a ventilation mask at night, the Vatican said.
In its late update, the Vatican said Francis had no further respiratory episodes during a day spent praying, resting and undergoing respiratory physiotherapy to try to help him fight double pneumonia.
enough on Tuesday morning to use just high flows of supplemental oxygen delivered by a nasal tube.
Doctors planned to resume using the mask while he sleeps Tuesday night, so that oxygen is pumped into his lungs via a mask that covers his nose and mouth.
Doctors said his clinical condition was stable and that his prognosis remained guarded, meaning he is not out of danger.
pray for Francis. The Argentine pope is particularly devoted to the blue veiled Lujan Madonna, which has been revered in Argentina since the 17th century.
coming weekend with the rest of the Holy See hierarchy.
On Tuesday, the Vatican said the retreat would go ahead without Francis but in “spiritual communion” with him. The theme, selected weeks ago and well before Francis got sick, was “Hope in eternal life.”
The 88-year-old pope, who has chronic lung disease and had part of one lung removed as a young man, had two respiratory crises on Monday in a setback to his recovery.
Francis’ medical team has not provided an in-person update on his condition since February 21, a sign of the up-and-down nature of his hospitalization, which began on February 14 and is the longest of his 12-year papacy.
Doctors extracted “copious” amounts of mucus from his lungs. They put him on a noninvasive mechanical ventilation mask to help him breathe and he slept with it through the night, but was stable
Argentines pray for the pope at hospital ON Tuesday, a group of Argentines from the country’s embassies in Rome brought a statue of Our Lady of Lujan to the Gemelli hospital to
“I am very happy to be now close to him,” said the Rev. Fernando Laguna, parish priest of the Argentine church in Rome. “I would like to hug him, but it’s not possible, but he told us that a prayer is like a hug So I am happy despite the pain.”
Vatican prepares for Lent without Francis FRANCIS’ treatment comes as the Vatican prepares for Lent, the solemn period leading up to Easter on April 20. As it is, a cardinal has been designated to take Francis’ place this week on Ash Wednesday, which opens Lent with a traditional service and procession in Rome. The pope was also supposed to attend a spiritual retreat this
Francis, who is not physically active, uses a wheelchair and is overweight, had been undergoing respiratory physiotherapy to try to improve his lung function. The accumulation of secretions in his lungs was a sign that he doesn’t have the muscle tone to cough vigorously enough to expel the fluid.
Doctors often use noninvasive ventilation to stave off intubation or the use of more invasive mechanical ventilation. Francis has not been intubated during this hospitalization. It’s not clear if he has provided any instructions on
the limits of his care if he declines seriously 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 in a 2017 speech to a meeting of the Vatican’s bioethics think tank, the Pontifical Academy for Life. He said 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.’”
Paolo Santalucia contributed.
Arab leaders endorse Egypt’s plan to rebuild Gaza as an alternative to Trump’s proposal
By Samy Magdy & Mohammad Jahjouh The Associated Press
CAIRO—Arab leaders on Tuesday endorsed Egypt’s postwar plan for the Gaza Strip that would allow its roughly 2 million Palestinians to remain, in a counterproposal to US President Donald Trump’s plan to depopulate the territory and redevelop it as a beach destination.
The $53 billion plan’s endorsement by Arab leaders at a summit in Cairo amounted to a rejection of Trump’s proposal. The summit conclusions were welcomed by Hamas, rejected by Israel and given a lukewarm response by the Trump administration.
Egyptian President Abdel Fattah elSissi expressed his appreciation for “the consensus among the Arab countries to support the reconstruction plan for the Gaza Strip, which allows the Palestinian People to stay on their land without displacement.”
In a social media post after the summit, el-Sissi said he looked forward to working with Trump, other Arab nations and the international community “to adopt a plan that aims for a comprehensive and just settlement of the Palestinian Issue, ends the root causes of the Israeli Palestinian conflict, guarantees the security and stability of the peoples of the region and establishes the Palestinian State.”
Initial reactions
WHITE House National Security Council spokesman Brian Hughes dismissed the Egyptian proposal as unworkable.
“The current proposal does not address the reality that Gaza is currently uninhabitable and residents cannot humanely live in a territory covered in debris and unexploded ordnance,” Hughes said. “President Trump stands by his vision to rebuild Gaza free from Hamas. We look forward to further talks to bring peace and prosperity to the region.”
A spokesperson for Israel’s foreign ministry, Oren Marmorstein, posted on X that the Egyptian plan “fails to address the realities of the situation” and said the summit’s joint communique does not mention Hamas’ Oct. 7, 2023 attack that sparked the war or condemn the militant group. The plan, he said, remains “rooted in outdated perspectives.”
Marmorstein reiterated Israel’s support for Trump’s plan to resettle Gaza’s population elsewhere, describing it as “an opportunity for the Gazans to have free choice based on their free will.”
Egypt’s Foreign Minister Badr Abdelatty blasted Israel’s rejection as “unacceptable,” describing its position as “stubborn and extremist.”
“There will be no peace neither to Israel
or to the region” without establishing an independent Palestinian state in accordance with United Nations resolutions, he said. He said “Israel violates all international law rules…the international law must be imposed.”
“No single state should be allowed to impose its will on the international community,” Abdelatty said.
Hamas welcomed the summit’s outcome, saying it marked a new phase of Arab and Islamic alignment with the Palestinian cause and that it valued Arab leaders’ rejection of attempts to transfer Palestinians from their territories in Gaza and the occupied West Bank.
Israel has embraced what it says is an alternative US proposal for the ceasefire itself and the release of hostages taken in Hamas’ attack on southern Israel on Oct. 7, 2023, which triggered the war. Israel has blocked the entry of food, fuel, medicine and other supplies to Gaza to try to get Hamas to accept the new proposal and has warned of additional consequences, raising fears of a return to fighting.
The suspension of aid drew widespread criticism, with human rights groups saying that it violated Israel’s obligations as an occupying power under international law.
The alternative proposal 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.
Egypt’s postwar plan
EGYPT’S plan foresees rebuilding Gaza by 2030 without removing its population. The first phase calls for starting the removal of unexploded ordnance and clearing more than 50 million tons of rubble left by Israel’s bombardment and military offensives.
Arab League chief Ahmed Aboul Gheit said the summit’s final communique calls on the U.N. Security Council to deploy an international peacekeeping force in Gaza and the occupied West Bank.
“Peace is the Arabs’ strategic option,” he said, adding that the communique rejected the transfer of Palestinians and endorsed Egypt’s reconstruction plan. “The Egyptian plan creates a path for a new security and political context in Gaza.”
The communique said Egypt will host an international conference in cooperation with the United Nations for Gaza’s reconstruction, and a World Bank-overseen trust fund will be established to receive pledges to implement the early recovery and reconstruction plan.
According to a 112-page draft of the plan obtained by The Associated Press, hundreds
of thousands of temporary housing units would be set up for Gaza’s population while reconstruction takes place. Rubble would be recycled, with some of it used as infill to expand land on Gaza’s Mediterranean coast. In the following years, the plan envisages completely reshaping the strip,
building “sustainable, green and walkable” housing and urban areas, with renewable energy. It renovates agricultural lands and creates industrial zones and large park areas.
It also calls for the opening of an airport, a fishing port and a commercial port. The
Oslo peace accords in the 1990s called for the opening of an airport and a commercial port in Gaza, but the projects withered as the peace process collapsed. Hamas would cede power to an interim administration of political independents until a reformed Palestinian Authority
can assume control. Palestinian President Mahmoud Abbas, head of the Westernbacked authority and an opponent of Hamas, attended the summit. Jahjouh reported from Khan Younis, Gaza Strip.
Zelenskyy calls spat with Trump ‘regrettable,’
pledges readiness for peace and mineral deal
By Samya Kullab & Hanna Arhirova The Associated Press
KYIV, Ukraine—Ukrainian
President Volodymyr Zelen -
skyy said Tuesday that the Oval Office blowup with US counterpart Donald Trump last week was “regrettable,” adding that he stands ready to work under Trump’s “strong leadership” to get a lasting peace. Zelenskyy’s remarks—an apparent attempt to placate Trump—came in a social media post on X, hours after the White House announced a pause in military aid to Ukraine that is critical to fighting Russia’s invasion.
But later during his nightly address, Zelenskyy indicated that Ukraine hadn’t received direct notification from the US that aid had been cut and was seeking confirmation.
“I have instructed Ukraine’s minister of defense, the heads of our intelligence agencies and our diplomats to contact their counterparts in the United States and obtain official information. People should not have to guess,” he said.
“Ukraine and America deserve a respectful dialogue and a clear position from one another. Especially when it comes to protecting lives during a full-scale war,” he added, saying that military aid had been cut once before in January for a brief period.
Zelenskyy also said Ukraine is ready to sign a lucrative deal on rare-earth minerals and security with Washington. Trump said during his address to Congress late Tuesday that he received a letter from Zelenskyy saying as much and that it noted Kyiv valued “how much America has done to help Ukraine maintain its sovereignty and independence.”
“I appreciate that he sent this letter, just got it a little while ago,” Trump said. “Simultaneously, we’ve had serious discussion with Russia and have received strong signals that they are ready for peace.”
Earlier, in an apparent reference to Trump’s criticism following the contentious White House meeting Friday that Zelenskyy does not want a peace deal, the Ukrainian leader said, “None of us want an endless war.”
“Ukraine is ready to come to the negotiating table as soon as possible to bring lasting peace closer. Nobody wants peace more than the Ukrainians. My team and I stand ready to work under President Trump’s strong leadership to get a peace that lasts,” he said.
Asked by reporters in Moscow about Zelenskyy voicing readiness
for the resumption of talks, Kremlin spokesman Dmitry Peskov said, “It’s good, it’s positive.”
In his post, Zelenskyy said the Oval Office meeting “did not go the way it was supposed to be.”
“It is regrettable that it happened this way. It is time to make things right,” he added. “We would like future cooperation and communication to be constructive.”
The pause of US military aid catapulted Ukraine into alarm and apprehension. Zelenskyy’s statement came before Trump was expected to address the US Congress later Tuesday.
“Regarding the agreement on minerals and security, Ukraine is ready to sign it in any time and in any convenient format,” Zelenskyy said. “We see this agreement as a step toward greater security and solid security guarantees, and I truly hope it will work effectively.”
French President Emmanuel Macron spoke by phone successively with Trump and Zelenskyy, Macron’s office said, and “welcomes” the Ukrainian’s “willingness to re-engage in dialogue with the US.” It released no details about the discussion with Trump.
UK Prime Minister Keir Starmer also spoke to the Ukrainian leader and “welcomed President Zelenskyy’s steadfast commitment to securing peace.”
Zelenskyy’s post came as officials in Kyiv said they were grateful for vital US help in the war and want to keep working with Washington. Ukraine’s prime minister, though, said the country still wants security guarantees to be part of any peace deal and won’t recognize Russian occupation of any Ukrainian land. Those are potential stumbling blocks for Washington and Moscow, respectively.
Ukraine and its allies are concerned Trump is pushing for a quick ceasefire that will favor Russia, which Kyiv says cannot be trusted to honor truces.
A White House official said the US was “pausing and reviewing” its aid to “ensure that it is contributing to a solution.” The order will remain in effect until Trump determines that Ukraine has demonstrated a commitment to peace negotiations, said the official, who spoke on condition of anonymity to discuss the assistance.
The pause in US aid isn’t expected to have an immediate impact on the battlefield. Ukrainian forces have slowed Russian advances along the 1,000-kilometer (600-mile) front line, especially in the fiercely contested Donetsk region in the east. The Russian onslaught has been costly in troops and armor but hasn’t brought a stra -
tegically significant breakthrough for the Kremlin.
Ukraine needs help to fight Russia UKRAINE , which depends heavily on foreign help to hold back Russia’s full-scale invasion that began on Feb. 24, 2022, has feared that aid could be stopped since Trump took office.
US-made Patriot air defense missile systems, for example, are pivotal to protecting Ukraine. Just as vital is US intelligence assistance, which has allowed Ukraine to track Russian troop movements and select targets.
“I feel betrayed, but this feeling is not really deep for some reason. I was expecting something like that from Trump’s side,” said a Ukrainian soldier fighting in Russia’s Kursk region, where Ukraine launched a daring incursion in August 2024 to improve its hand in negotiations. The soldier spoke by phone to The Associated Press on condition of anonymity because he was not authorized to talk to the media.
On the front line, where Ukraine is struggling to fend off the larger and better-equipped Russian army, another soldier said the US decision would allow further battlefield gains for Moscow.
“War is very pragmatic,” he told AP, speaking on condition of anonymity in compliance with military regulations.
“If we have weapons, enough ammunition, infantry, armored vehicles and aviation—great. If not, then we’re done,” he said.
He recalled a seven-month delay in US aid that ended in April 2024 but opened a door for Russia’s capture of the strategic city of Avdiivka.
Olena Fedorova, 46, of the southern port city of Odesa, said she hoped Trump’s decision would be temporary because “we really need help.”
US support is vital because Europe cannot fully provide what Ukraine needs in air defense systems, leading to increased civilian casualties, said lawmaker Yehor Chernov.
The suspension of US military aid is already being felt at a hub in eastern Poland that has been used to ferry Western weapons into neighboring Ukraine, Polish Prime Minister Donald Tusk said.
The US-Ukraine relationship has taken a downturn since Trump took office and his team launched bilateral talks with Russia.
Trump had vowed during his campaign to settle the war in 24 hours, but later changed that time frame and voiced hope that peace could be negotiated in six months.
Ukrainian Prime Minister Denys Shmyhal said US help is “vital” and has saved “perhaps tens of thousands” of civilian and military lives. But he emphasized that any peace agreement must be “on Ukraine’s terms, as the victim country.”
Ukraine wants “concrete security guarantees” from Washington, European countries and Group of Seven leading industrialized nations, he said. Giving up territory to Russia, which occupies nearly 20% of Ukraine, “is not possible” under the U.N. Charter, he said.
European allies stress support for Kyiv
NOTING that the US has been “the chief supplier” of aid to Ukraine, Peskov said that if Washington suspends these supplies, “it will make the best contribution to peace.”
Poland’s Foreign Ministry said the US had not consulted with or informed NATO countries before announcing the pause.
Russia will likely try to use the halt in supplies to extend its territorial gains and strengthen its position in prospective peace talks.
Andrei Kartapolov, a retired general who heads a defense committee in parliament, told Russia’s state RIA news agency that Ukraine would exhaust its current ammunition reserves within months.
“We need to keep up the pressure and continue to target their bases and depots with long-range precision weapons to destroy the stockpiles,” he said.
Ukraine’s European allies, meanwhile, reaffirmed their commitment to Kyiv.
The chief of the European Union’s executive proposed an 800-billioneuro ($841 billion) plan to bolster defenses of EU nations and provide Ukraine with military muscle.
The UK government, which has been leading European efforts to keep Trump from pushing to end the war on terms that could favor Moscow, said it remains “absolutely committed to securing a lasting peace in Ukraine.”
Malcolm Chalmers, deputy director-general of the Royal United Services Institute, a London-based defense think tank, said Washington’s move could encourage Russia to seek more Ukrainian concessions, including demilitarization and neutrality.
Volodymyr Yurchuk in Kyiv, Vanessa Gera in Warsaw, Poland, and Aamer Madhani, Zeke Miller and Lisa Mascaro in Washington contributed to this report.
Humanitarian crisis deepens in Gaza as Israel cuts off essential supplies, prices soar amid aid freeze
the freeze continues.
JBy Julia Frankel & Samy Magdy
The Associated Press
ERUSALEM—Israel’s cutoff of food, fuel, medicine and other supplies to Gaza’s 2 million people has sent prices soaring and humanitarian groups into overdrive trying to distribute dwindling stocks to the most vulnerable.
The aid freeze has imperiled the tenuous progress aid workers say they have made to stave off famine over the past six weeks during Phase 1 of the ceasefire deal Israel and Hamas agreed to in January. After more than 16 months of war, Gaza’s population is entirely dependent on trucked-in food and other aid. Most are displaced from their homes, and many need shelter. Fuel is needed to keep hospitals, water pumps, bakeries and telecommunications—as well as trucks delivering aid—operating.
French PM calls US military aid suspension to Ukraine ‘unbearable’ abandonment, warns of Russian victory
By John Leicester The Associated Press
PARIS—France’s prime minister decried the US pause on providing military aid to Ukraine as “unbearable” on Tuesday, describing it as tantamount to abandoning Ukrainians and allowing for a possible victory by Russia.
“The word ‘suspension’ fools no one,” Prime Minister François Bayrou said, addressing French senators and mounting what was his second sharp criticism of the administration of US President Donald Trump in as many days.
“The suspension in war of assistance to an aggressed country signifies that the aggressed country is being abandoned and that one accepts—or hopes—that its aggressor wins,” he said.
“It’s obviously unbearable,” Bayrou said.
The French premier, a close ally of President Emmanuel Macron, also argued against strong pressure that the White House is exerting on Ukraine to quickly negotiate an end to the fighting. Bayrou said that Ukraine needs to keep fighting for its very survival.
“If Russia stops fighting, the war stops. If Ukraine stops fighting, Ukraine disappears,” Bayrou said.
Though the Trump administration announced the suspension in aid Monday, Ukrainian President Volodymyr Zelenskyy indicated later during his nightly address that his country had not received direct notification of the pause. He also said he stands ready to work with Trump on obtaining a lasting peace.
Macron, meanwhile, spoke by phone successively with Trump and Zelenskyy and reiterated “France’s determination to work with all the parties to achieve a solid and lasting peace in Ukraine,” his office said, without giving details of the discussion with Trump.
Macron’s prime minister, appointed in December, has become one of the sharpest French critics of the abrupt U-turn in Washington’s policy on Ukraine that Trump has executed since he and US Vice President JD Vance publicly berated Ukrainian President Volodymyr Zelenskyy in an explosive meeting last week. In an address on Monday to See “France,” A9
China keeps its economic growth target at ‘around 5%’ despite looming trade war
By Simina Mistreanu & Ken Moritsugu
BThe Associated Press
EIJING—China is keeping its economic growth target at “around 5%” for 2025 despite a looming trade war with the United States and other headwinds.
The target for GDP growth was announced Wednesday in a report being presented by Premier Li Qiang at the opening session of the National People’s Congress, the annual meeting of China’s legislature. It reflects the government’s plans to try to stabilize growth in challenging economic times, but stop hold back on more dramatic action to supercharge it.
The 32-page report acknowledged the challenges at home and abroad.
new ones. Across-the-board tariffs imposed on Chinese products by US President Donald Trump pose the latest threat to an economy already weighed down by a prolonged real estate slump and sluggish consumer spending and private business investment.
Two days in, how is the cutoff impacting Gaza on the ground?
Food, fuel and shelter supplies are imperiled
THERE’S no major stockpile of tents in Gaza for Palestinians to rely on during the aid freeze, said Shaina Low, communications adviser for the Norwegian Refugee Council. The aid that came in during the ceasefire’s first phase was “nowhere near enough to address all of the needs,” she said.
“If it was enough, we wouldn’t have had infants dying from exposure because of lack of shelter materials and warm clothes and proper medical equipment to treat them,” she said.
Six infants in the Gaza Strip died from hypothermia during Phase 1. Aid groups are now trying to assess what stocks they do have in Gaza.
“We’re trying to figure out, what do we have?
What would be the best use of our supply?” said Jonathan Crikx, a spokesperson for UNICEF. “We never sat on supplies, so it’s not like there’s a huge amount left to distribute.” He predicted a “catastrophic result” if
Israel says the siege aims at pressuring Hamas to accept its spinoff ceasefire proposal. Israel has delayed moving to the second phase of the deal it reached with Hamas, during which the flow of aid was supposed to continue. Israeli Prime Minister Benjamin Netanyahu said Tuesday that he is prepared to raise the pressure and would not rule out cutting off all electricity to Gaza if Hamas doesn’t budge. Rights groups have called the cutoff a “starvation policy.”
During the ceasefire’s first phase, humanitarian agencies rushed in supplies and quickly ramped up their capabilities.
Aid workers set up more food kitchens, health centers and water distribution points. With more fuel coming in, they were able to double the amount of water drawn from wells, according to the U.N. humanitarian coordination agency, or OCHA.
The United Nations and associated nongovernmental organizations brought in around 100,000 tents as hundreds of thousands of Palestinians tried to return to their homes, only to find them destroyed or too damaged to live in.
But the progress relied on the flow of aid continuing.
The International Organization for Migration now has 22,500 tents sitting in its warehouses in Jordan, after supply trucks brought back their undelivered cargo once entry was barred, said Karl Baker, the agency’s regional crisis coordinator.
The International Rescue Commission has 6.7 tons (14,771 pounds) of medicines and medical supplies waiting to enter Gaza, the delivery of which is now “highly uncertain,” said Bob Kitchen, vice president of the Emergencies and Humanitarian
Action Department.
“It’s imperative that aid access is now immediately resumed. With humanitarian needs sky high, more aid access is required, not less,” Kitchen said.
Prices are up
THE UN’s humanitarian office said Tuesday that prices of vegetables and flour shot up after the crossings closed.
Sayed Mohamed al-Dairi walked through a bustling market in Gaza City just after the cutoff was announced. Prices that had just started to come down during the ceasefire had jumped back up, as sellers hiked the prices of their dwindling wares.
“The traders are massacring us, the traders are not merciful to us,” he said.
“In the morning, the price of sugar was 5 shekels, ask him now, the price has become 10 shekels.”
In the central Gaza city of Deir Al-Balah, one cigarette priced at 5 shekels ($1.37) before the cutoff now stands at 20 shekels ($5.49). One kilo of chicken (2.2 pounds) that was 21 shekels ($5.76) is now 50 shekels. ($13.72). Cooking gas has soared even more, from 90 shekels ($24.70) for 12 kilos (26.4 pounds) to 1,480 shekels ($406.24).
“An increasingly complex and severe external environment may exert a greater impact on China in areas such as trade, science, and technology,” Li said, reading parts of the report to the Congress over nearly an hour. “Domestically, the foundation for China’s sustained economic recovery and growth is not strong enough. Effective demand is weak, and consumption, in particular, is sluggish.”
The IMF has projected China’s economy will grow 4.6% this year, down from 5% in 2024, according to Chinese government statistics.
The report offered some details on previously announced plans to step up stimulus for the sluggish economy this year. It outlined plans for a “more proactive fiscal policy,” including an increase in deficit spending from 3% to 4% of GDP, or the size of the overall economy.
It said the government would issue 1.3 trillion yuan ($180 billion) in ultra-long-term bonds, up from 1 trillion yuan last year, and that 300 billion yuan in such bonds would go toward a program launched last year that offers rebates to consumers who trade in automobiles or appliances for
C hina’s ruling Communist Party signaled in December that it would boost stimulus this year. The US tariffs have made that task more urgent, because they could crimp sales to one of China’s major export markets. At the same time, Chinese leader Xi Jinping wants to wean the economy off its long-running dependence on the highly indebted real estate market. He is pushing economic resources into developing a more innovative, high-tech economy—and with growing restrictions on US technology exports to China, one that isn’t beholden to other countries for the most powerful semiconductors and other electronic components. That has remained the overarching long-term economic goal of the Communist Party, though it has enacted various measures since September in a possible shift in emphasis toward shoring up growth in the short-term.
“A target of around 5% is well aligned with our mid- and longterm development goals and underscores our resolve to meet difficulties head-on and strive hard to deliver,” the government report said.
The party announced in December that the central bank would shift its monetary policy from “prudent” to “moderately loose” for the first time in more than a decade.
The government, following the party’s leadership, is expected to borrow more this year, spend more on the consumer rebate program and possibly increase pensions and health care benefits. The question is whether it will be enough to stabilize the economy and reach its target for growth.
France’s lower house of parliament, the prime minister decried the Oval Office thrashing of Zelenskyy as a
“staggering” show of “brutality” that aimed to humiliate Ukraine’s leader and bend him to the will of Russian President Vladimir Putin.
Speaking to lawmakers again on Tuesday, Bayrou argued that the US suspension of military aid could have
repercussions both on and off the battlefields for Ukraine, impacting not only supplies of munitions, intelligence and communications and other military assistance, but also Ukrainian morale.
“The Ukrainians feel terribly abandoned and terribly alone,” he said.
Separately, French Defense Minister Sébastien Lecornu posted a video of what he described as “dangerous behavior” by a Russian Su-35 fighter jet that he said buzzed a French Reaper drone that was conducting a surveillance mission in international
airspace over the eastern Mediterranean on Sunday.
“Three successive close passes, which could have led to the loss of control of the drone, demonstrated an intent to restrict free air circulation in shared spaces,” the defense
minister posted on X.
“This was a deliberate, unprofessional, and aggressive action that is unacceptable.”
AP journalist Sylvie Corbet in Paris contributed.
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House leader laments ‘fake news’ on soldiers’ subsistence allowance
By Jovee Marie N. dela Cruz @joveemarie
ADEPUTY speaker on Wednesday refuted rumors that the administration had turned down an increase in the soldiers’ subsistence allowance, saying that the 2025 national budget will adequately support it.
Deputy Speaker David Suarez called these claims “blatant deception meant to mislead both troops and the public.”
Suarez affirmed that the increase is fully funded, secured, and guaranteed under the 2025 national government budget, emphasizing that President Marcos and the House of Represen -
tatives, under Speaker Ferdinand Martin G. Romualdez, remain committed to support soldiers and combat disinformation.
“We won’t let lies undermine our soldiers. The funding is secured, the commitment is strong, and they will get what they deserve,” Suarez, who represents Quezon, said, recalling that it was Romualdez, following the President’s instruction, who pushed for the inclusion of increased daily subsistence allowance for soldiers from P150 to P350 or P10,500 monthly in this year’s national budget.
Suarez warned that those spreading misinformation are endangering the welfare of uniformed personnel
and attempting to sow distrust within the ranks.
“This is a budol , a big lie! These false claims deceive our soldiers and undermine their trust in the government. But the truth is clear—this increase is funded, secured, and guaranteed under the 2025 budget,” Suarez said.
The Armed Forces (AFP) also refuted the misleading reports, confirming that the P350 increase is embedded in the 2025 General Appropriations Act (GAA) and will be implemented as planned.
The military urged soldiers and the public to rely solely on official announcements, warning that disinformation creates unnecessary confu -
sion and weakens morale within the ranks. It reiterated its full commitment to safeguarding the well-being of uniformed personnel and ensuring they receive their rightful benefits.
Suarez strongly condemned the deliberate spread of falsehoods, calling it a blatant disregard for the sacrifices made by the country’s troops.
“The budget is there. The law is clear. The funding is secured. This will be implemented—no amount of fake news can change that,” he said.
The lawmaker also urged Filipinos to verify information before sharing unverified claims online, reinforcing the government’s commitment to ensuring soldiers receive the benefits they deserve.
Group seeks whole-of-society approach vs abuse of children
CBy Rizal Raoul Reyes @brownindio
ITIZEN Watch Philippines on Wednesday urged the government to implement stronger enforcement, greater public awareness, and a whole-of-society approach against the alarming rise of Online Sexual Abuse and Exploitation of Children (Osaec) and Child Sexual Abuse or Exploitation Materials (CSAEM) in the country.
In a statement, CitizenWatch Philippines co-convenor Christopher Belmonte said: “Every child has the right to a safe childhood—a childhood free from fear, from exploitation, and from harm,” he said. “Osaec and CSAEM are not just crimes that must be pros -
ecuted; they are moral failures that must be confronted with urgency and unwavering resolve.”
Belmonte pointed out that the Philippines has earned notoriety as a major global source of online child exploitation. According to the International Justice Mission, at least 500,000 minors in the country have fallen victim to Osaec and CSAEM. Belmonte warned that the real figures may be even higher owing to rampant underreporting and lack of awareness.
He said CitizenWatch lauded the shift in this year’s Safer Internet Day theme to “Digital Bayanihan, Para sa Kabataang Ligtas at Protektado Online,” recognizing the importance of a united front in
safeguarding children in the digital space.
He emphasized that while telecommunication companies and digital platforms like Globe, PLDT, and Google have made strides in blocking illicit content, more must be done.
“We cannot allow the internet to be weaponized against our children. We need tighter regulation of digital platforms, stronger international cooperation to dismantle syndicates, and intensified efforts to educate parents and children alike,” Belmonte said.
CitizenWatch Philippines is pushing for full enforcement of existing laws such as Republic Act 11930, the Cybercrime Prevention Act, and the
Anti-Child Pornography Act. Nonetheless, Belmonte stressed that legal frameworks alone cannot handle the challenges and stressed the vital role of telecommunications companies and internet providers in blocking websites with child abuse materials and educating consumers in responsible internet use, scams and cybercrimes.
“This fight is not just for lawmakers, enforcers, or tech giants— it is a fight for our youth –the future of our nation. Parents must be the first line of defense. Schools must integrate digital literacy into curricula. Tech companies must continuously refine their safeguards. And every citizen must refuse to turn a blind eye,” he urged.
DepEd adopts measures to protect teachers, learners from extreme heat
By Claudeth Mocon-Ciriaco @claudethmc3
AMID the extreme heat now being felt around the country, Education
Secretary Juan Edgardo Angara ordered the implementation of measures to protect learners and teachers from the sweltering heat.
Angara said that the Department of Education (DepEd) is rolling out interventions to ensure learning continues safely, following President Marcos’s reminder to ensure uninterrupted learning despite environmental challenges.
“Siyempre po laging handa ang pamahalaan patungkol dito. Kung ito po aymakakaapektosaekonomiyanatin,tayo aylaginghandatungkoldiyan,”Malacañang
Press Officer Claire Castro said in a recent press briefing.
To mitigate the effects of extreme heat, DepEd has instructed field offices and schools to take preventive actions, including adjusting class schedules, adopting alternative delivery modes if necessary, improving classroom ventilation, and ensuring access to hydration stations.
“We are deeply concerned about our learners’ and teachers’ safety. We are closely coordinating with our field offices to assess the situation in schools and determine the best course of action given the extreme heat,” Angara said.
Schools are advised to conduct morning sessions from 6:00 a.m. to 10:00 a.m., allow asynchronous learning from 10:00 a.m. to 2:00 p.m., and hold afternoon sessions from
Go cautions workers against extreme heat
SEN. Christopher Go urged government workers to remain dedicated to their duties while taking necessary precautions against the dangers of the intense heat currently affecting many parts of the country.
Go emphasized that excessive heat exposure could lead to serious health conditions, including heat stroke, and called on both the education and labor sectors to adjust accordingly.
Go, chairperson of the Senate Committee on Health, made the statement
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percent in February 2024. It is also the lowest recorded inflation rate since September 2024’s 1.9 percent.
Despite falling below the government’s target range of 2 to 4 percent, which is based on the December 2024 estimates from the Development Budget Coordination Committee, the national average inflation for January to February 2025 is at 2.5 percent.
while attending a gathering of barangay officials from Antique on Tuesday, March 4, in Iloilo City, where he underscored the importance of prioritizing public health amid rising temperatures.
“My primary interest is the safety, health, and welfare, lalung, lalo na ang mga estudyante natin at ang mga workers,” he said. “May mga lugar na napaka-init ngayon at hindi desirable at very conducive para sa pag-aaral. Napaka-hirap ngayon ng panahon. Heat index ang taas. Diyan pala sa
2:00 p.m. to 6:00 p.m.
Additional rest and hydration breaks are encouraged, particularly in non-airconditioned classrooms.
DepEd also underscores the importance of keeping classrooms well-ventilated. Schools are advised to maximize natural ventilation by opening windows, removing obstructions that restrict airflow, and installing additional fans and cooling devices.
Other safety measures include limiting outdoor activities during peak heat hours, ensuring access to potable water, and providing first-aid kits with cooling packs and emergency thermometers. Health personnel are tasked with monitoring cases of heat-related illnesses, such as heat cramps, exhaustion, and stroke.
In terms of suspension, DepEd clarifies
Iloilo, umabot ng 37 degrees Celsius. So napaka-init, delikado po.
Given the extreme conditions, Go stressed the need for preventive measures. He encouraged Filipinos to stay hydrated and for government agencies to make necessary adjustments to safeguard the well-being of workers and students.
“’Pag sobrang init, paalala ko sa mga kababayan natin, uminom ng tubig. At sana ay makapag-adjust ang DepEd [Department of Education]...kung kakailanganintalaga...ng online learning, baka pwede naman makapag-adjust. Mas importantesaakinangkalusuganngbawat Pilipino,” he said.
that there is no automatic suspension of classes due to extreme heat under its current policy.
However, local chief executives may declare class suspensions in affected areas.
In this scenario, schools will shift to alternative learning performance-based tasks, or make-up classes to ensure that learning competencies are still met.
In case there is no automatic suspension of classes and in the absence of a declaration from the local government, DepEd’s policy also allows school heads and ALS coordinators to suspend in-person classes if excessive heat poses health risks to students and teachers.
Offices and schools are instructed to prepare and use self-learning modules (SLMs) and Dynamic Learning Program (DLP) tools in case of shift to ADM.
For employees, particularly those working outdoors or under physically demanding conditions, Senator Go suggested flexible working arrangements to minimize exposure to extreme heat.
“At sa mga nagtatrabaho naman po, ‘yung workers, sana makapag-adjust rin po sa trabaho, sa oras ng pagtatrabaho. Unahin po natin ang kalusugan ng bawat Pilipinodahilkatumbaspo‘yanangbuhay ng bawat Pilipino,” he said.
Citing guidance from the Department of Health (DOH), Go warned about the serious health risks associated with extreme heat, such as heat stroke, heat cramps, and other heat-related illnesses.
BI arrests Chinese ‘money launderer’ of illegal Pogos
TBy Joel R. San Juan @jrsanjuan1573
HE Bureau of Immigration (BI) on Wednesday announced the arrest of a Chinese man accused of being a money launderer for illegal Philippine Offshore Gaming Operators (Pogos).
The suspect identified as 35-yearold Wang Zhouyu was arrested on Roberts Street in Pasay City by operatives of the BI’s fugitive search unit on March 4.
Wang is considered an undesirable alien after information shared by Chinese authorities showed that he has a standing warrant of arrest issued by the Qinhuangdao Public Security Bureau for fraud in violation of the Article 82 of the Peoples Republic of China Criminal Procedure Law dated February 18. 2025.
The complaint alleged that Wang and his cohorts established a network that has been involved in money laundering activities, and coordinates with other fraud groups based in mainland China in order to facilitate fund transfer service of their illegal revenues.
The BI said foreign authorities have traced financial transactions amounting to CNY 19 million that are linked to 23 criminal cases.
Wang has been tagged as a money launderer of illegal Pogo operations and scam hubs in the country, assisting them in the illicit movement of funds.
He is now detained at the BI’s facility at Camp Bagong Diwa, Taguig
Hontiveros
City, pending his deportation. Meanwhile, Immigration Commissioner Joel Viado ordered a manhunt against a South Korean wanted in his home country for fraud.
The man, identified as Na Ikhyeon, 28, is being sought by Korean authorities for his involvement in deceptive investments.
South Korean authorities said Na misled his compatriots by directing them to invest in non-existent enterprises.
He and his partners then withdrew the investments for their personal gain.
Na was previously arrested by the BI in May 31, 2023 and was held in the BI’s facility while awaiting his deportation. However, his deportation was deferred pending the resolution of an estafa case filed by a Filipina against him at the Quezon City Prosecutor’s Office.
The complainant, an owner of a small jewelry business, said that she consigned to Na several pieces of jewelry as an agent, but failed to remit the full amount of sales despite several demands.
Na attended a hearing related to the said case on March 4, but was able to elude his guards, using the court’s restroom.
“We are investigating if his counsel has knowledge of this seemingly pre-planned incident,” Viado said.
“We have also assigned a special tracker team to locate and take him again into custody,” he added.
raises alarm over escape of Korean fugitive from Immigration
By Butch Fernandez @butchfBM
ADAY after she pushed for a top-tobottom revamp at the Bureau of Immigration (BI) for its failure to prevent the escape of dismissed Bamban, Tarlac mayor Alice Guo, a senator on Wednesday raised the alarm over a Korean fugitive who was allegedly able to escape the BI’s detention center.
Sen. Anna Theresia “Risa” Hontiveros said: “Mainit-init pa po ang balita [The story is still quite warm]. We have received alleged credible information from sources that this fugitive was able to escape while en route to a Court hearing in Quezon City.”
Hontiveros admitted having been told the news, but remained skeptical.
“Did he escape or was he allowed to escape? At the very least, this is gross negligence on the part of the BI,” Hontiveros noted.
She added: “I call on our law enforcers to look into this matter immediately. We cannot allow a criminal to be freely roaming in our land.”
“Na Ikhyeon, a South Korean, was arrested in Clark, Pampanga in 2023 for assuming a false Filipino identity. It was later found that he was also wanted in South Korea for his participation in large-scale fraud cases.”
Hontiveros recalled that the Senate Committee on Women hearings showed that a lot of Philippine Overseas Gaming Operations actors also pretend to be Filipinos, “so I won’t be surprised if this fugitive is also involved in Pogo. There are many parties in Pogo who are also involved in fraud or scamming operations, so it’s very likely there’s a connection between this guy and the scam hubs in this country.” Hontiveros then expressed disappointment over the BI’s “constant dereliction of duty.” She further cited the Senate Subcommittee on Justice and Human Rights hearing on Wednesday, in which it was found out that the BI did not even know that three Chinese Pogo bosses—Lyu Xun, Kong Xiangrui and Wang Shangle—who were ordered for deportation did not actually arrive in China.
“The BI does not know that three Chinese Pogo bosses they deported never reached China; they don’t know how Alice Guo escaped; and now, I hope they won’t say again that they don’t know how this Korean fugitive escaped,” Hontiveros said.
“The bureau’s seeming—or deliberate— ignorance is astounding. Habang ang mga Pilipino hirap na hirap makalusot sa immigration counters, itong mga dayuhang pugante parang ang bilis nalang makawala. The BI has to seriously clean up its ranks. Kung hindi,patuloytayongmapapasukanngmga pugante’tkriminal,” Hontiveros concluded.
“The downward trend in headline inflation indicates that our efforts to combat inflationary pressures are working. However, we will not be complacent in addressing causes of commodity price increases, particularly for food, to help uplift the lives of poor and vulnerable Filipino families, especially” Socioeconomic Planning Secretary Arsenio Balisacan stated.
point), and fish and seafood (20.4 percent or 0.5 percentage point).
Food inflation at the national level eased to 2.6 percent in February from 4 percent in January, and is also significantly lower than the 4.8 percent recorded in February 2024. The slowdown was largely driven by a lower inflation rate for vegetables, tubers, plantains, cooking bananas, and pulses, which stood at 7.1 percent last month. Per the PSA, food inflation accounted for 43.4 percent, or 0.9 percentage point, of the overall inflation rate in February. The top contributors were meat and slaughtered land animal parts (70.2 percent or 1.8 percentage points), vegetables and similar produce (24.7 percent or 0.6 percentage
Balisacan said the government is focused on keeping inflation stable to protect consumers’ purchasing power. Moreover, the National Economic and Development Authority (Neda) head noted that with six to 13 typhoons expected between March and August 2025, the government is preparing for potential agricultural disruptions.
“The Department of Agriculture will implement the La Niña action plan to restore agricultural productive capacity in areas likely to be affected by continuous rainfall, flooding, and landslides,” he said. “The action plan includes water management, financial assistance and credit support, and a massive information campaign on La Niña.”
Core inflation eased to 2.4 percent in February 2025, marking a slowdown from 2.6 percent in January 2025 and from 3.6 percent in February 2024.
In the National Capital Region, inflation moderated to 2.3 percent in February 2025, down from 2.8 percent in the previous month and 3.2 percent in February 2024. On the other hand, inflation outside Metro Manila also decelerated, settling at 2 percent in February 2025 from 2.9 percent in January 2025, compared to 3.5 percent in the same period last year. (See: https:// businessmirror.com.ph/2025/03/05/ inflation-drops-to-2-1-in-feb-lowestin-5-months-psa/).
The lower headline inflation rate in February was driven by easing prices in both food, to 2.6 percent from 4 percent, and non-
food items at 1.7 percent from 2.2 percent. Rice prices contracted by 4.9 percent year-on-year in February— a reversal from the 23.7 percent surge recorded a year ago and an improvement from the -2.4 percent rate in January.
Imported rice in the National Capital Region (NCR) also posted an average doubledigit drop of 13.7 percent.
The Monetary Board, the Bangko Sentral ng Pilipinas’ (BSP) highest key policy-making body, kept key policy rates steady at 5.75 percent in its meeting in February.
Local monetary authorities maintained dovish guidance with the possibility of further rate cuts this year as BSP Governor Eli M. Remolona Jr. said the BSP is still in the easing cycle and not thinking about raising rates.
Remolona said earlier a 50-basis-point reduction is possible, with the initial 25-bps cut possibly delivered in the first half of the year while another 25-bps cut will follow in the second half. Despite the easing of inflation, Recto said the government remains committed to alleviating price pressures and maintaining long-term price stability through a wholeof-government approach. Key initiatives include revising the Rice Tariffication Law to stabilize rice supply and prices, importing fish and pork to supplement local production and continuing the rollout of the African swine fever (ASF) vaccine. Furthermore, the Energy Regulatory Commission (ERC) is implementing staggered electricity rate increases to lessen the inflationary burden on consumers.
Trump tariffs spark China retaliation on US agricultural exports
CHINA will impose tariffs on a slew of US farm products as part of its countermeasures against Washington, threatening to disrupt a major portion of trade between the two agricultural powerhouses.
While the full list of measures from Beijing on Tuesday indicated some restraint, the breadth of farming targets was far-reaching, touching commodities from beef and poultry to grains. China also announced a complete suspension of soybean imports from three US entities and halted purchases of American logs.
The government warned earlier in the week, through the state-run Global Times, that agricultural products would be caught in trade crossfire. Its latest moves include additional 10 percent duties on imports of soybeans starting March 10. Sorghum, pork and beef will also incur new 10 percent tariffs, while 15 percent levies will be slapped on US chicken, wheat, corn and cotton, according to a statement.
“It’s a negative for pork and beef, but China wasn’t going to buy much corn or soybeans from us for the next six to eight months anyway,” said Arlan Suderman, chief commodities economist at StoneX. “Argentina and Brazil’s supplies are cheaper, thanks for foreign exchange rates, and that will likely be the case until those supplies run out late this year.”
China’s retaliation, which includes some of America’s most valuable agricultural exports to the Asian nation, comes as the US raised tariffs on China to 20 percent and introduced 25 percent duties on most Canadian and Mexican imports.
Canada also hit back at President Donald Trump, retaliating against about $107 billion worth of US products, including a wide range of food products from meat and dairy to candy. Mexico plans to make an announcement on Sunday.
Soybean futures for May delivery fell as much as 2 percent to $9.91 a bushel last May 4, the lowest for a most-active contract since January. China is the world’s largest buyer of the commodity, used to make cooking oil and animal feed.
Corn for the same month fell as much as 3 percent to $4.425 a bushel, the lowest for a most-active contract since December. Wheat also declined, while cotton futures in New York slumped as much as 4.5 percent to the lowest since the height of the pandemic in 2020.
Agricultural markets were caught in the crosshairs of the US-China trade war during Trump’s first term, with Beijing imposing tariffs as high as 25 percent on American farm products including soybeans. US soybean sales fell almost 80 percent during a two-year period.
This time around, though, China has diversified its purchases and it can mostly live off soybean imports from South America. There’s also very little in outstanding sales of US soy that’s still to be shipped to China, according to data from the US Department of Agriculture. Some of these sales could be canceled.
“I anticipate that we’ll see a few cargoes dropped at some point to get some headline impact,” Suderman said. “But there is only about 1 million tons of unshipped soybeans still on the books at this point.”
Cargoes shipped before March 10 and imported before April 12 won’t incur the additional tariffs, according to the Chinese government statement.
“China will be able to reach a new supply-demand balance, by, for example, importing more soybeans from South America, or releasing supplies from the reserves,” said Hanver Li, chief analyst with Shanghai JC Intelligence Co. “China had been making preparations long ago. China is ready for this.”
During Trump’s first term, the White House was forced to give farmers generous payouts as levies escalated and crop exports shrank, helping to maintain his support in rural areas. That could happen again.
Growers have already been grappling with falling crops prices, with farm income under pressure for the last three years. The cost of seeds, fertilizer and equipment have also gone up, while tariffs on imports on Canadian potash won’t make things any better.
On Sunday, US Agriculture Secretary Brooke Rollins said that American farmers would soon start receiving an initial tranche of $30 billion in funding approved by Congress to fight a market downturn. That funding was approved under the Biden era, before tariffs were even an issue.
“This doesn’t look like a full-scale trade war just yet, but it could be heading that way,” said Kang Wei Cheang, an agriculture broker at StoneX in Singapore. “China’s actions suggest they want to keep things from spiraling out of control, but the real question is whether the US is willing to negotiate. If no deal is reached, this could drag out into a much larger economic conflict.”
During the last trade war, the US and China eventually reached the so-called Phase 1 trade deal, under which China pledged to buy more American agricultural products. Beijing has since taken steps to increase purchases from South America and elsewhere, and to boost domestic production. At this time of year, it is mostly buying from Brazil.
The US said on Monday that it would impose tariffs on “external” agricultural products starting on April 2, adding another layer of threats to impose trade barriers on imported goods. The move comes just as the nation’s food imports balloon, driving the agriculture trade deficit to a record $49 billion this year.
“I really don’t know how raising tariffs would help the US corn and soybean farmer unless tariffs produced a new Phase 1 deal like Trump signed with China in 2020,” said Dan Basse, president of consultants AgResource Co. “Such a deal would completely change the US ag outlook from bearish to bullish, but seems to be a ways off, if at all possible as China diversified suppliers in the past four years.” Bloomberg News
NFA to planters: Earn more by selling dry palay to govt
TBy Ada Pelonia @adapelonia
HE National Food Authority (NFA) urged farmers to invest more time in drying their palay or unmilled rice harvest to increase their income.
NFA Administrator Larry Lacson said rice planters should take advantage of the hot dry season. The agency noted that while
drying their harvest might take additional days and an extra cost of P1 per kilo, the rewards are “substantial.”
“That’s a net additional
income of P4 per kilo. For example, a farmer harvesting 5 tons per hectare could net an extra P20,000,” Lacson said in a statement.
He also noted that the grains agency increased its buying price for palay, which was within the range of P23 to P30 per kilo under its Price Range Scheme.
“This week, we’ve raised our buying price to P18 per kilo for fresh palay and P24 per kilo for clean and dry palay.”
The NFA chief said rice millers are currently buying clean and dry palay for P20 to P22 per kilo, while the average quotation for fresh or wet
unmilled rice is P5 lower. According to the DA, the grains agency’s appeal comes amid a challenging global rice market. It said rice prices are the lowest in over two years, adversely affecting the price of locally produced palay.
Moreover, the anticipated better harvest this year due to improved weather conditions has also put pressure on palay prices.
The NFA said it is targeting to purchase 880,000 metric tons (MT) of palay this year to meet the new rice buffer stock requirement equivalent to 15 days of national consumption, as stipulated under the amended Rice Tariffication Law (RTL).
To achieve this, the grains agency said it is ramping up its rice milling operations, expanding its warehouse capacity, and investing in new trucks to improve procurement efforts. With a procurement budget of around P14 billion this year, including the P5 billion carried over from last year, NFA said it is determined to maintain sufficient stocks for food security and boost farmers’ profits.
Retail prices of imported rice range from P44 to P47 per kilo for well-milled and P36 to P46 per kilo for regular milled, based on the latest government price monitoring report.
Local rice prices range between P42 and P52 per kilo for well-milled and P38 and P45 per kilo for regular milled, government data showed.
SAN MIGUEL FOOD AND BEVERAGE INC . (SMFB) said its net income last year rose 7 percent to P40.9 billion from the P38.1 billion recorded in 2023 despite “evolving market conditions.”
Consolidated sales rose 6 percent to P400.9 billion from P379.82 billion in 2023, fueled by higher volumes and market expansion initiatives.
“Our performance in 2024 reflects the strength of our brands, operational excellence, and disciplined execution of our growth strategies,” SMFB Chairman Ramon S. Ang said. “We continue to invest in
innovation, expand our market reach, and optimize efficiencies to drive sustainable, long-term value for all our stakeholders.”
Sales of San Miguel Foods rose 3 percent to P185 billion, with growth led by prepared and packaged Food, up 12 percent, driven by strong demand for Purefoods Tender Juicy Hotdogs, Magnolia dairy and San Mig Coffee. It posted a 37-percent increase in operating income to P13.3 billion and 33 percent growth in net income to P8.4 billion.
Sales of San Miguel Brewery Inc. grew 4 percent to P153.4 billion. Domestic sales totaled P137.6 billion, while international sales amounted to $276.5 million.
Operating income went up by 6 percent to P33.4 billion, while net income was up by a mere 1 percent to P25.6 billion.
Meanwhile, Ginebra San Miguel Inc.’s sales surged 17 percent to P62.5 billion, driven by volume growth of 9 percent.
Ginebra’s business benefited from strong demand and increased popularity among a wider range of consumers.
Operating income increased 26 percent to P8.6 billion, while net income rose 3 percent to P7.3 billion.
Last January, conglomerate San Miguel Corp. (SMC), through its subsidiary San Miguel Foods Inc. (SMFI), said it is stepping up its purchases of animal feed ingredients, including corn and cassava from local farmers.
Group: Salt prices fall on influx of imports
THE Philippine Association of Salt Industry Networks (PhilASIN) expressed concern over the decline in salt prices, which it attributed to the “unabated” entry of imports.
During a public consultation on salt importation led by the Bureau of Fisheries and Aquatic Resources (BFAR) in Quezon City, PhilASIN said the local salt sector is currently grappling with depressed prices. The group noted that in Mindoro, salt prices fell to as low as P1.80 per kilo.
“The importers can import as much as they want. There is no limit to that importation,”
Gerard Khonghun, president of PhilASIN, told reporters on the sidelines of the consultation last
Tuesday.
With this, the group urged the government to certify salt imports as necessary prior to importation by determining the gap in local supply and consumption to prevent oversupply.
PhilASIN said the provision of a certificate of necessity to import (CNI) would manage inbound shipments of salt and enable farmers to compete with imports.
“We need to manage the importation to prevent oversupply,” Khonghun said. “Every time a law [on farm products] was passed, the intention is to control importation to give local producers a chance.” Under the Philippine
Fisheries Code of 1998, fishery products may only be imported when the importation has been certified as necessary by the Department of Agriculture (DA), in consultation with the National Fisheries and Aquatic Resources Management Council (NFARMC).
The group said salt is included in the definition of aquatic resources as stipulated under the fisheries code and should therefore be used as legal basis for the issuance of a CNI.
“If there’s an El Niño and you still allow a lot of importation, how will the salt farmers be encouraged to make more salt?”
“When they produce salt, they are rewarded with low prices because of oversupply of
The company will do this via its first nationwide publicprivate partnership with the Department of Agriculture. Through a memorandum of understanding (MOU), SMFI said it would establish and manage buying stations for key crops, such as corn, cassava, sorghum, and soybeans. It added that this would allow farmers to have direct access to an institutional buyer, ensuring “a stable and fair market” for their produce and delivering better financial returns. According to Agriculture Secretary Francisco Tiu Laurel Jr., the partnership could help cut import costs and eventually lower the prices of egg and meat products.
imports,” Khonghun said. When the drought hit many parts of the country last year, he said local salt production grew by over 30 percent to 110,000 metric tons (MT).
Following the salt group’s suggestion, the BFAR said its technical working group (TWG) would try to incorporate the provision of CNI under the fisheries code in the salt importation guidelines.
Last year, President Ferdinand Marcos Jr. signed Republic Act (RA) 11985 or the Philippine Salt Development Act to boost the competitiveness of the local salt industry. The Philippines imported 659,443 MT of salt in 2024, 3.6 percent lower than the 684,040 MT recorded in the previous year, based on data from the Philippine Statistics Authority.
NEWLY delivered rice from Regions 2 and 3 is stored at a National Food Authority warehouse in Valenzuela on Monday, January 20, 2025. PHOTO BY NONOY LACZA
Unlocking the country’s mineral wealth: It’s time to clear the deadwood
THE Philippines, a nation blessed with abundant mineral resources, is significantly underperforming in its mining sector. Senate President Francis Escudero’s recent inquiry into inactive and unused exploration permits (EPs) and mineral production sharing agreements highlights a critical impediment to the country’s economic progress. The persistence of these “dead” permits directly contradicts the spirit and intent of Republic Act 7942, or the Philippine Mining Act of 1995, and deprives the nation of potential economic benefits. (Read the BusinessMirror story: “DENR hit for tolerating idle Eps, MPSAs,” March 3, 2025).
The Philippine Mining Act of 1995, which aims to promote the sustainable development of the country’s mineral resources, is being undermined by the lack of effective management and utilization of mining areas. It is imperative that the government takes immediate action to address this issue and ensure that the mining industry is operating in a manner that maximizes its potential benefits to the economy and the people.
As the Senate president pointed out, the Philippines ranks among the world’s top nations in terms of mineral wealth, holding substantial reserves of gold, copper, nickel, and chromite. Yet, in 2024, the mining and quarrying sector contributed a meager 0.71 percent to the country’s GDP and employed a mere 0.54 percent of the workforce. This stark contrast between potential and reality demands immediate and decisive action.
The core of the problem lies in the fact that inactive, non-operational, or invalid EPs and MPSAs are essentially blocking progress. They prevent the government from granting permits to companies that are ready and able to invest in exploration and extraction. These dormant permits also deter other entities, possessing both the financial resources and technical expertise, from pursuing new ventures in areas locked up by these non-performing agreements.
Senator Escudero’s Senate Resolution 1310 rightly identifies this issue as a major obstacle to the effective management and utilization of the country’s mineral resources. His call for a thorough review of existing laws and regulations is timely and necessary. The Senate inquiry must identify the specific bottlenecks that hinder continuous mining operations and determine what legislative changes are needed to unlock the sector’s potential.
It is crucial that the government, through the Mines and Geosciences Bureau, undertakes a comprehensive audit of all existing EPs and MPSAs. Permits that have remained inactive for an unreasonable period, or those held by companies lacking the capacity to develop them, should be revoked. This would free up valuable areas for new investments and create opportunities for companies that can contribute meaningfully to the economy.
Furthermore, the government must streamline the permitting process to reduce bureaucratic delays and ensure transparency. This will encourage responsible mining practices and attract both domestic and foreign investment.
The Philippines cannot afford to let its mineral wealth remain untapped. By clearing the deadwood of inactive permits and fostering a more efficient and transparent regulatory environment, the country can unlock the vast potential of its mining sector, generating jobs, boosting economic growth, and improving the lives of Filipino citizens.
BusinessMirror
T. Anthony C. Cabangon
Lourdes M. Fernandez
Jennifer A. Ng Vittorio V. Vitug
Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso, Dionisio L. Pelayo Ruben M. Cruz Jr.
Eduardo A. Davad Nonilon G. Reyes
D. Edgard A. Cabangon Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan
BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga
What is money? The ugly truth
MJohn Mangun
OUTSIDE THE BOX
ONEY. They say it makes the world go round. Maybe it is the noose around your neck that strangles you slowly. We wake up, take a salary, pay bills, stare at bank apps and never ask: What is this game? Not textbook jargon “medium of exchange” or “store of value.” The ugly truth. Most of us do not question it. It is as natural as air. But lift the curtain, and you might find something unsettling staring back.
Once upon a time, in a freemarket fantasy, folks grabbed the shiniest rock and called it money. Gold is the poster child—tough (immutable), easy to split (fungible), portable, and scarce. History quietly agrees. Gold has been king because it checks every box. The logic is simple: people traded, settled on what worked, and money emerged as the “most marketable commodity.” Case closed? Not so fast. Here is the grim reality. The history of money is not some Libertarian free-market playground. Governments have muscled in since day one, stamping coins with Caesar’s face or churning out paper promises. Forget about there being “market choice.” Fiat currency is money that the government says is valuable, drawing its power from decrees, not demand, and comes from the “full faith and credit” of the government
that issues it. Ancient kings minted junk metal and called it treasure. Today, it is pieces of “plastic paper” with pictures of birds and dead national heroes, backed by nothing, but enforced by law. Taxes cemented the deal: pay up in the King’s Coin, or else. Money is a top-down tool. Take a detour to prison. No fiat there, just cigarettes and packs of instant noodles. Cigarettes rule because they are wanted, divisible, and tradable, and that is money 101. Instant noodles work too, nonperishable and filling. Inmates pick whatever fits, proving money can bubble up anywhere. But if inmate “El Presidente” hates noodles and demands cigarettes, the value of noodles crashes. Power, not utility, makes the rules.
Anthropologist David Graeber drops a bomb in his book “Debt: The First 5,000 Years.” Barter is
Here is the grim reality. The history of money is not some Libertarian free-market playground. Governments have muscled in since day one, stamping coins with Caesar’s face or churning out paper promises. Forget about there being “market choice.” Fiat currency is money that the government says is valuable, drawing its power from decrees, not demand, and comes from the “full faith and credit” of the government that issues it.
a myth. Early community trading ran on IOUs, not swaps. It was not a kilo of chicken for a loaf of bread but chicken for a loaf-of-bread IOU. Debt, not markets, birthed money. Kings figured this out quickly: issue coins, tax them back, and suddenly everyone scrambles for your currency. No swords needed. Johann Wolfgang von Goethe said: “None are more enslaved than those who falsely believe they are free.” You and I are Exhibit A. You are not forced to work for “money”; you just need cash to live. Subtle, brilliant, and chilling. The movie “The Matrix” hammers it home. Morpheus shows Neo a battery, a human battery that is fuel for a machine that the “battery” never sees. Money is the same. It is a system extracting your sweat while you binge-watch Netflix. Look around. You are born, ID-
Trump draws red line to deter China from devaluing currency
US President Donald Trump’s comment on China’s currency policy is strengthening the case for the central bank to stick to its strategy of keeping the yuan stable, even in the face of a looming trade war.
Trump said Japan and China are putting the US at an unfair disadvantage when they weaken their currencies, something analysts have said Beijing may consider to counter the impact of US tariffs. His comments look like a red line of sorts that may deter the People’s Bank of China from weaponizing the yuan to avoid antagonizing the US, even though it has so far signaled no intention to depreciate it in response to higher tariffs.
In fact, the PBOC has been fending off depreciation pressure on the yuan since Trump won the US elections in November. It has capped the yuan’s drop at around 7.3 per dollar through the use of its daily reference rate, which limits moves in the onshore yuan by 2 percent on either side, since late January.
It has also delayed interest-rate cuts, paused bond purchases so far this year and tolerated a funding squeeze among banks to prevent further yuan declines and capital outflows.
“Despite the upcoming extra 10 percent tariff hike, the PBOC will probably refrain from tweaking its steady yuan fixing policy, considering Trump’s warning on yuan depreciation,” said Ken Cheung, chief Asia FX strategist at Mizuho Bank in Hong Kong. “The PBOC may also be inclined to preserve currency stability during the National People Congress.”
Speculations on a yuan devaluation emerged last year when China’s sluggish growth, risks of prolonged deflation fueled calls for bolder stimulus from policymakers. Some
also argue Beijing may also weaken the currency to blunder the impact of tariffs.
In January, some analysts predicted that the yuan would weaken toward 7.5 or even 8 per dollar by year-end depending on how the levies would be rolled out. However, the dollar’s losses amid bets on Federal Reserve rate cuts and the PBOC’s strong defense of the yuan and a rally in Chinese tech shares have helped cool some of these bearish bets. Goldman Sachs Group Inc and BofA Securities recently upgraded some of their yuan forecasts despite fresh tariff threats from Trump. There are two main reasons that hold back the PBOC from allowing the yuan to depreciate, Nomura strategists including Craig Chan wrote in a note. There will be risk of significant capital flight, and a depreciating yuan may conflict with the wish of China’s top leaders for a “powerful currency” that could be increasingly used globally.
tagged, and billed for existing. Taxes are not optional, and earning the state’s cash is not either. Debt is the sweet finishing touch. Just borrow for your dream house and stay chained to the grind. Try leaving the system, going off the financial grid. Good luck. It is not a conspiracy. It is reality, hidden in plain sight. Money is sometimes a physical gem like gold, sometimes a state leash like fiat. “Free-markets” sound noble, but we are stuck with central banks and paper. Even cryptos bow to government pressure with Uncle Sam’s boot on their neck. Trump announced the US Strategic Crypto Reserve, jacking Bitcoin from $80,000 to $94,000, proving government still holds the leash. Gerald Ford knew: “A government big enough to give you everything you want is big enough to take it all.” Spot the trap, play it sharp, or get chewed up. Play it sharp means wake up and see the cage, the debt, the power. You cannot just sleepwalk through, bleeding sweat for the system. We sharpen our eyes, dodge the noose, and pile up what holds value — gold today, cryptos tomorrow, maybe stocks or commodities next week all while outsmarting the machine. Or it grinds you to dust. History screams it: empires fade, but power always rigs the game. Your move. E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.
The onshore yuan climbed 0.1 percent to around 7.28 per dollar while the offshore unit rose 0.3 percent, wiping out losses from the last session. The PBOC set the yuan fixing at a steady level of 7.1739 per dollar on Tuesday, versus the average estimate at 7.2782 in Bloomberg survey with traders and analysts. In Japan, the yen edged higher as the country’s finance minister denied a policy of weakening the currency.
Traders are now watching the annual gathering of China’s National People’s Congress this week for clues how ambitious China will be in setting its growth target and the extent of its support to achieve that.
“We expect the Chinese authorities to eventually allow the yuan to adjust in response to significant tariffs—more possible in the months ahead—as evident in the 2018/2019 trade war experiences. Yuan depreciation pressures may increase again in the near-term,” Nomura’s Chan wrote in a note. Bloomberg
Tariff ‘earthquake’ sends shipping executives into crisis mode
By Laura Curtis, Shawn Donnan & Erik Hertzberg
GLOBAL shipping executives gathered this week in Long Beach, California, for a major annual conference, expecting to discuss market trends and supply chain challenges.
Instead, they found themselves in crisis mode.
On Tuesday, President Donald Trump upended decades of mostly free trade with the two biggest US trading partners, slapping 25 percent tariffs on goods from Mexico and Canada. The White House also layered another 10 percent duty on China on top of an identical hike a month before.
The move sent shock waves through global trade, igniting fears of recession, skyrocketing consumer prices and logistical chaos. While beefing up tariffs has long been one of Trump’s signature issues, veteran shippers at the S&P Global’s TPM25 conference in Long Beach said they didn’t expect him to follow through so fully.
“It’s like an earthquake,” said Cindy Allen, chief executive officer of consultant Trade Force Multiplier, who spoke on a conference panel about navigating Trump’s second term. “You do your best to prepare, but then when it comes it’s an 8.0 on the Richter scale. It’s a shock,” she said in an interview.
Deepening the uncertainty, Commerce Secretary Howard Lutnick said late Tuesday that Trump was weighing a compromise with the country’s North American neighbors. A deal could be announced as soon as Wednesday, Lutnick said in an interview with Fox Business.
The tariffs will probably land “somewhere in the middle,” with Trump “moving with the Canadians and Mexicans, but not all the way,” Lutnick said.
Trump has threatened higher tariffs for years, and the possibility of a major increase was universally understood. At the twin ports of Los Angeles and Long Beach—the largest US gateway for Chinese imports— cargo volumes have ballooned in recent months, a sign that importers were moving in shipments ahead of potential trade restrictions.
The pattern is familiar: During Trump’s first term, port traffic spiked as businesses raced to stockpile goods, only to drop once tariffs on Chinese imports started taking effect. Half a continent away, freight rates between the US and Canada have jumped since Trump’s latest election in November, said Dean Croke, an analyst at DAT Freight and Analytics.
“Clearly, shippers have been positioning as much inventory as they can,” he said. “There’s been a real surge in cross-border rate, volume and rate volatility between the two countries and some of the highest rates we’ve seen in a couple of years.”
Jose “JD” Gonzalez, a customs broker in Laredo, Texas, tried for weeks to sound a similar alarm. But most brushed off his concerns, confident the duties wouldn’t take effect —especially after a previous delay on tariffs for Canada and Mexico just a month earlier.
Then the tariffs kicked in, and the phone hasn’t stopped ringing. One call after another, Gonzalez walked clients through the biggest change in the rules governing trade at the USMexican border in his more than 30 years in the business.
What had been a relatively tarifffree world for many of the companies he serves suddenly became one in which they had to scramble to come up with the funds to pay 25% of the value of imports. For many, that meant rushing to do the basics and setting up an account with the US Customs and Border Protection to pay the new import taxes.
“It’s just culture shock,” said Gonzalez, who also serves as president of the national industry association for customs brokers. “Everybody was kind of waiting to see what was going to happen.”
How mindset, accountability, and adaptability shape corporate success and economic growth
TTrump has threatened higher tariffs for years, and the possibility of a major increase was universally understood. At the twin ports of Los Angeles and Long Beach—the largest US gateway for Chinese imports—cargo volumes have ballooned in recent months, a sign that importers were moving in shipments ahead of potential trade restrictions.
Other companies all across the region are also rushing to adapt in industries from trucking to food— and even the rarefied world of private jets.
At Grupo Fletes Mexico, a trucking company in the border city of Ciudad Juarez, customers are asking for discounts to offset higher costs from the tariffs, said CEO Miguel Gomez. But with slim margins, he can’t afford to say yes and fears layoffs among the company’s 2,600 employees may be necessary if the tariffs remain in place for long.
“We don’t really have many options to reduce costs,” he said. “There is a lot of uncertainty and instability.”
In Canada, Quebec’s UgoWork, which makes batteries for forklifts, is cutting prices by 12.5 percent—essentially splitting the full rate with their US customers.
“But at some point, this is not sustainable,” said CEO Philippe Beauchamp. He said he’s considering opening a plant in the US, where half of UgoWork’s customers are.
At Toronto-based Bondi Produce, which distributes fresh fruits and vegetables, vice president of finance Paul Sandhu said the company can’t absorb a cost increase of 25 percent and will have to pass at least some of it on to customers. Citrus fruits, tomatoes, peaches and berries are among the affected goods.
Bondi also processes produce, importing fruit from the US or Mexico and then selling it to the northeastern US.
“I laugh because it’s just mind boggling to think of, but yes, that’s going to be a two-way impact for the end consumer,” Sandhu said.
In the corporate jet business, some would-be US buyers are hitting the pause button, said Greg Raiff, the Miami-based CEO of Elevate Aviation Group, which offers charter flights and advises clients on aircraft purchases.
Spare parts are a huge consideration and that’s prompted potential buyers of jets made by Bombardier Inc. to back off and try to assess their total cost of ownership. For example, if someone needed $500,000 in parts from the Quebec-based planemaker, the new tariffs would add another $125,000.
“If you buy an airplane from a Canadian manufacturer, you’re marrying yourself to whatever those Canadian import duties are,” Raiff said. While he was still trying to understand the tariffs’ scope Tuesday morning, he predicted “that’s going to hit business aviation considerably.”
At the TPM25 conference, news of Lutnick’s comments on a possible compromise with Mexico and Canada broke during a session with trade and customs expert Pete Mento. After fielding a barrage of questions from retailers and importers, he ended with some words of advice.
“Panic is very expensive, right? It’s probably more expensive than patience,” Mento said, who is customs and trade director at logistics provider DSV.
“The best thing you can do for you, for your customers, for your executives, is to preach calm, not overreacting, no knee-jerk reactions.” With assistance from Amy Stillman, Mathieu Dion, Michael Sasso and Melissa Shin /Bloomberg
By Henry Go
HE Philippine economy is projected to experience strong growth in 2025, driven primarily by increased consumer spending, investments, and exports, according to analysts. The IMF and ADB predict a 6.2 percent growth rate, with the World Bank forecasting 6.1 percent, demonstrating the country’s strong potential among emerging markets. However, to keep this momentum, businesses must do more than rely on good economic conditions— they must strengthen their corporate governance.
Good corporate governance is built on three key principles: mindset, accountability, and adaptability. A strong mindset means having ethical leadership and a long-term vision. Accountability earns trust through transparency in business decisionmaking and financial records thus enhancing the attractiveness of projects to investors. Adaptability keeps businesses competitive due to the ability to maneuver internal operations with shifts in economic circumstances, new technologies, and challenges emerging globally.
Companies that think strategically, uphold ethics, and embrace accountability and adaptability will thrive, not just survive. Responsive governance creates a fertile ground for innovation, resilience, and investor trust. By upholding good governance, a business will grab its share of an economic opportunity and contribute positively to the country.
I) Mindset: The driving force behind corporate vision
The mindset pervasively embedded within the organization’s leadership and workforce will factor significantly in an organization’s success. This governance will originate from a culture of leadership purposely taking an ethical course in its judgment and vision of the future, which has been committing itself to an improvement in a very broad context.
n Visionary leadership: The realignment of a company begins with a change in mindset. As former CEO of IBM, Louis Gerstner has said, “Running a company is more than financial engineering—it’s a cultural transformation.”
n Employee engagement: Corporate thinking extends beyond the circle of leadership. For Howard Schultz, returning to fix Starbucks during its decline meant fixing more
than just the balance sheet. He rekindled the mission of Starbucks and fortified the internal culture. Schultz believed Starbucks’ greatest asset is its people; by strengthening their sense of common purpose, Starbucks was able to not just recover but to thrive.
n Growth culture: These are organizations that learn and are flexible. IBM and Microsoft, in the past, have reinvented themselves time and time again, supporting a culture that embraces change rather than resists it. Accountability begins with a strategic mindset. Leaders that endorse transparency and ethics create structures to govern which in turn inspire trust.
II) Accountability: The basis of trust and good governance
Accountability is pivotal for good governance. The leadership of corporations, represented by the Board of Directors and top management, must be accountable, due to the fact that their decisions impact shareholders, stakeholders, employees, vendors, and ultimately the general public.
Thus, accountability needs to be accompanied by transparency and an uphold of the rule of law. Transparency is one of the pillars of good governance, which leads to and illustrates accountability. A governance structure that lacks transparency invites inefficiencies, erodes stakeholder confidence, and weakens longterm viability.
For accountability to be effective, organizations need to set clear ethical standards, promote open communication among stakeholders, and share responsibility at all levels. Companies that have open communication with employees and shareholders develop stronger bonds, while organizations that give
Economic growth is not something which happens spontaneously and can’t even be sustainable without a sound business sector. Growth comes out from small as well as large business enterprises. They are part of that whole creation of jobs, bringing in innovations, and providing goods and services for basic needs—all this cannot happen without their active participation. It is, in fact, good business governance that leads to sustainable economic progress.
responsibility to employees instill a shared accountability culture and minimize the use of reactive crisis management.
III) Adaptability —The master key to corporate success
Adaptability, the capacity to adapt to new conditions quickly and effectively, is essential in today’s business environment. Organizations that go through constructive transformation and innovation keep their competitive edge, while other non-adaptive organizations will continue to stagnate. An example: Tesla morphed from being a niche luxury EV manufacturer into the mainstream leader in affordable EVs, battery storage, and AI-driven autonomy, ahead of all industry trends. Additionally, adapting AI is one of the keys in the current business environment. Businesses that utilize AI are able to work more quickly, make improved decisions, and outcompete their rivals. AI assists by performing tasks automatically, enhancing customer support, and identifying valuable patterns in data. AI-powered businesses gain a competitive edge, while those that ignore it risk falling behind.
In developing adaptability in corporate leadership, managers should:
n Challenge teams to innovative avenues and search for new avenues to grow.
n Encourage open communication and collaboration among all parties and present all relevant stakeholders with information and consult them on decisions taken.
n Regularly re-assess and refor-
mulate strategies, policies, and structures to address the new conditions in the business environment.
n Employ integrates employees at all levels to contribute to innovation and decision-making. n Establish flexible governance systems to allow quick response to anticipated challenges in the industry.
Adaptability must be anticipatory and strategic, averting crises before they become unmanageable. Organizations that are capable of anticipating shifts in the market, changes in technology, or adaptation to changes in regulation will arm themselves with the necessary tools and confidence to face uncertainty and take advantage of new opportunities.
Today, in a continuously changing global economy, adaptability is no longer an ingredient of competitiveness; it has turned out to be a key to survival and expansion. Companies that incorporate adaptability into their corporate governance are resistant to adverse challenges and open doors for continuous innovations and dominance in their respective industries.
Conclusion Economic growth is not something which happens spontaneously and can’t even be sustainable without a sound business sector. Growth comes out from small as well as large business enterprises. They are part of that whole creation of jobs, bringing in innovations, and providing goods and services for basic needs—all this cannot happen without their active participation. It is, in fact, good business governance that leads to sustainable economic progress. Great leadership that is visionary and accountable to the basic tenets of a growth mindset, responsibility, and adaptability provides the business with the power to respond to challenges and embrace change and remain competitive. In an ever-changing market, companies that can subscribe to such ideals will be more equipped to thrive and succeed over a longer time span. Good governance therefore bodes well for businesses and offers dividends to the country for a strong and more sustainable economy.
BlackRock’s ports deal marks new reach, hands win to Trump
By Silla Brush & Matthew Bristow
BLACKROCK Inc. led one of the biggest acquisitions of the year in a deal that marked both the firm’s expanded reach in infrastructure and a win for US President Donald Trump, who had raised concerns over control of key ports near the Panama Canal.
The world’s biggest asset manager led a consortium that will buy a controlling stake in Panama ports that had become a political lightning rod and a larger unit that has operations across 23 countries. CK Hutchison, the conglomerate founded by Hong Kong billionaire Li Ka-shing, said it would receive cash proceeds of more than $19 billion from the sale.
CK Hutchinson shares jumped as much as 25 percent in Hong Kong on Wednesday, the most in 27 years.
The deal is a major victory for Trump, who had argued that China had taken over the critical waterway, without providing evidence, and that the US was paying too much for the passage of ships. He previously demanded the fees charged on US naval and merchant ships be lowered, or else Panama should return the canal to the US.
The agreement was reached alongside a deal in principle for BlackRock and its Global Infrastructure Partners unit, along with Mediterranean Shipping Co.’s ports division, to acquire units that hold 80% of the Hutchison Ports group, which operates 43 ports in 23 countries, the company said Tuesday in a statement.
The consortium will also acquire 90 percent of Panama Ports Co., which operates the two entryways in Balboa and Cristobal.
The deal also removes a headache for billionaire Li. As recently as Janu-
ary, his company said it was committed to continue operating in the country, but has faced increased scrutiny amid Trump’s threats. Panama’s government had been weighing whether to cancel the company’s contract, Bloomberg reported last month, and had also initiated an audit.
It will also be a lucrative exit for CK Hutchison if the deal goes through. At $19 billion, the proceeds the Hong Kong conglomerate gets from the port business buyout is worth as much as CK Hutchison’s market valuation and “a total free ride for shareholders,” said Kenny Wen, head of investment strategy at KGI Asia Ltd., “Shareholders’ expectations of a special dividend or share buyback will increase significantly.”
While CK Hutchison is based in Hong Kong—a Chinese territory with its own borders, currency and legal system—Beijing has clamped down on the former British colony since 2020 when it imposed a broad national security law that paved the way for a crackdown on dissent.
Infrastructure expansion
THE transaction represents the largest infrastructure deal in BlackRock’s history after it bought infrastructure specialist GIP last year in a push further into private markets. BlackRock shares fell as much as 3.4 percent to $933.34 in New York, slumping along with the rest of the
The world’s biggest asset manager led a consortium that will buy a controlling stake in Panama ports that had become a political lightning rod and a larger unit that has operations across 23 countries. CK Hutchison, the conglomerate founded by Hong Kong billionaire Li Ka-shing, said it would receive cash proceeds of more than $19 billion from the sale.
market amid an escalating trade war.
CK Hutchinson’s American depositary receipts ended the day 17 percent higher.
BlackRock Chief Executive Officer Larry Fink, speaking at an RBC Capital Markets conference, said the deal was a great opportunity for the asset manager and highlighted the company’s “long relationship” with CK Hutchison. The deal includes the bulk of CK Hutchison’s ports division, which produced 20 percent of the conglomerates earnings before interest and tax in the first half of last year and was the company’s third-biggest business. In its most recent results, the ports units outside of China and Hong Kong produced HK$17.8 billion ($2.3 billion) in first-half revenue and HK$6.25 billion in Ebitda.
Ports across Asia, Australia, Panama, Mexico and the Middle East saw a 33 percent jump in profit in that period. The company is keeping its ports in China. Meanwhile, the proceeds from the deal will boost the Hong Kong conglomerate’s war chest for its ongoing acquisition spree.
“The company is well positioned
to replenish its portfolio with assets that are less prone to geopolitical tensions,” said Denise Wong, a Bloomberg Intelligence infrastructure analyst. “In fact, M&A activity across the CK Group has been picking up since last year, following a three years lull.”
‘Writing on the wall’ HUTCHISON could see the writing on the wall, that strategically it was best for them as well for Panama to pursue its interests elsewhere,” said Evan Ellis, Latin America Research Professor with the US Army War College.
The deal could also relieve pressure on Panama President Jose Raul Mulino, who has been attempting to ward off Trump’s designs on control of the Panama Canal, which was handed over to the local government in 1999.
“It’s positive to the extent it helps Mulino to diminish Chinese footprint in Panama and placate Trump,” said Risa Grais-Targow, director for Latin America at Eurasia Group. The White House had no immediate comment. The Trump administration and members of the US Congress were briefed on the agreement, according to a person familiar with the matter. Panama will review the transaction and the audit of the Panama Ports contract will continue, according to a statement posted to Mulino’s account on X. Hutchison has run the ports in Panama’s Balboa and Cristobal under a concession that was first signed in 1997 and, in 2021, extended until 2047. The acquisition of the ports will require government sign-off, BlackRock said. With assistance from Jeremy Hill /Bloomberg
Thursday, March 6, 2025
Non-life insurance costs rising on high reinsurance
By Reine Juvierre S. Alberto @reine_alberto
THEcosts of insuring personal assets against accidental losses could rise due to the increased reinsurance costs as climate change intensifies, according to the umbrella organization of non-life insurers.
In a press briefing on Wednesday, Philippine Insurance and Reinsurers Association (PIRA) former chairperson Eden R. Tesoro said that the wildfires in California could add up to the costs of non-life insurance premiums.
“If your reinsurer is one of those affected by those fires, then you can expect that they will adjust their pricing,” Tesoro said, who also serves as the chief operating officer of Malayan Insurance.
then generally, the product will have to increase in price,” Tesoro added.
This was observed in 2023 and 2024, when there was an increase of about 10 to 15 percent in non-life insurance premiums, according to Tesoro.
Non-life insurers, however, cannot just increase premiums as these need to be approved by the regulator, PIRA Executive Director Michael F. Rellosa said.
NatRe’s Head of Non-Life Reinsurance Division Jose Augurio N. De Vera Jr. said reinsurance costs significantly increased in 2024, as a “hard market” has resulted in increases in reinsurance.
able, ranking first in the World Risk Index.
“We’re gonna be hitting record temperatures and we haven’t even started our summer. If there’s recordhigh heat, it usually translates to record-high rainfall,” Rellosa said.
“It looks like there’s a perfect storm brewing and we wanted to be ready for that,” Rellosa added.
Moreover, while United States politics may not directly hit non-life insurers in the Philippines, it could impact their investments, according to Tesoro.
NEWLY appointed Transportation Secretary Vivencio B. Dizon has exactly one year to get a law passed and signed to establish an independent transport safety and investigation board, or the country runs the risk of cementing its reputation as unsafe for foreign carriers.
The number of fatal air crashes in the country has been picking up since the beginning of the year. Just this week, an F-50 aircraft owned by the Philippine Air Forced crashed in Bukidnon, with its two pilots dead. In February, a Beechcraft King Air 300 crashed in Maguindanao del Sur, carrying four people. Also in February, a private helicopter crashed in Nueva Ecija, killing its lone pilot. The incidents are being investigated by the Civil Aviation Authority of the Philippines (CAAP).
retary for Aviation and Airports Capt. Jim Sydiongco confirmed that, “An independent accident investigation or transport safety board is crucial in the country’s compliance with the ICAO audit. Without an independent safety board, there are about 10 protocol questions that the Philippines will not be able to close/address or comply with the requirements of Annex 13 on independence of investigation.”
Annex 13 refers to a set of guidelines for investigating aircraft accidents and incidents. Its goal is to prevent future accidents by generating safety data and information. Among its key aspects are: the Accident Data Report, a Preliminary Report, a Final Report, Safety recommendations, and Evidence protection.
This would then translate to higher premiums charged to policyholders as it is not sustainable for insurers to price at the same level as the cost of reinsurance is already “very high,” Tesoro said.
However, Tesoro said reinsurance sources of non-life insurers vary, with the National Reinsurance Corporation (NatRe) as the only domestic professional reinsurance company in the Philippines.
“As a rule, when you have this significant rise in reinsurance costs,
A reinsurer is an insurance company providing financial protection to other insurance companies. Tesoro said that for reinsurers to stay afloat, they will push back the pricing to companies that they reinsure.
The California wildfire, De Vera said, was an accumulation of all the disasters that happened elsewhere.
“[It] is just one factor that might increase the overall prices.”
Tesoro said reinsurance costs could be anywhere from 50 percent to nearly double. “Even if you could afford it, which many companies struggle with, it wasn’t always available.”
PHL riskiest
WITH various natural catastrophes occurring all over the world, the Philippines stands as the most vulner-
“The politics, not only America’s but the whole world, there seems to be a full-blown trade war happening already, tit for tat,” Rellosa said, adding that geopolitics is a “big issue.”
As the US imposes tariffs, the companies and countries that are affected will also impose counter-tariffs that will affect trade.
“Anything that affects the economy, we feel that in the insurance industry, either we insure less goods or the cost for example of preparing stuff locally would be more expensive because we import. So an increase in tariffs should also increase in prices,” Rellosa said.
The urgency to establish an independent board was reiterated as BusinessMirror sources disclosed that the International Civil Aviation Organization (ICAO) has postponed its safety audit of the Philippines/CAAP, originally scheduled this month, to next year. The postponement was an accommodation to former Transportation Secretary Jaime Bautista, following President Ferdinand R. Marcos Jr.’s “ill-advised” veto of House Bill No. 9030/Senate Bill No. 1077, which would have established the Philippine Transportation Safety Board (PTSB), said an aviation expert who spoke on background.
Annex 13 failure SOUGHT for comment, Transport Undersec-
MALNUTRITION is likely to occur when households struggle to meet their dietary needs, according to a former socioeconomic planning chief.
Despite inflation easing to 2.1 percent in February, meat and vegetables remained the top drivers of food inflation, which accounted for 43.4 percent of the overall rate, according to the Philippine Statistics Authority (PSA).
Dante Canlas, former National Economic and Development Authority (Neda) secretary, told BusinessMirror in a message that rising meat prices force households to cut back on protein consumption, increasing the risk of nutritional deficiency.
“Reducing the ability of households to meet their protein and other dietary requirements, malnutrition is bound to occur, especially among children below 5 years of age,” Canlas said. “Incidence of malnutrition is already high for the latter age group.”
The PSA on Wednesday reported that in February, the average price of pork kasim rose to P352.89 per kilogram (kg) from P337.38 in January, while liempo climbed to P367.63 per (kg) from P352.31.
The National Capital Region recorded the highest pork prices nationwide, with liempo reaching P428.61 per (kg), while Central Luzon posted the highest price outside Metro Manila at P403.01 per (kg).
“We know how it is with ASF [African Swine Fever] these days. I think the supply is the cause because the ASF is causing a high price for meat, particularly pork,” deputy national statistician Divina Gracia del Prado said, speaking partly in Filipino, at the press briefing. Per Canlas, household food purchasing power depends largely on wages and earnings. “The government must support households’ ability to increase their bargaining power and ensure that work-
ers get a fair share of the national income,” he said.
However, former University of Asia and the Pacific School of Economics dean Peter Lee U said in an exclusive interview that he expects households to adjust by opting for more non-meat options, noting that “nutrition may not immediately suffer as households will first reallocate what foods they will buy before they actually reduce food consumption.”
Moreover, former Philippine Tariff commissioner George Manzano said that nutrition will be affected depending on the extent and duration of such high prices.
“Governments can do a number of steps to address food inflation. One is to reduce the cost of importing, such as tariffs, and another is to improve the food supply chain to reduce waste, mainly infrastructure,” Manzano told the BusinessMirror For Ateneo de Manila University economist Leonardo Lanzona, Jr., the inflation slowdown owes to a broader economic deceleration, both locally and globally.
“While there were better harvests for rice and stable currency, welfare is not generally improved since real incomes remained the same, thus keeping household food consumption generally intact, although with more rice this time but less viands,” Lanzona told this newspaper.
Meanwhile, De La Salle University economist Ella Oplas noted that food inflation eased partly due to the rice harvest season and increased demand for meat as agricultural incomes rose. “I expect demand to grow higher. We are entering the fiesta time,” she told the BusinessMirror
To support the livestock sector, Neda secretary Arsenio Balisacan said efforts to address ASF are being accelerated, with agencies urging the Bureau of Animal Industry to expedite post-vaccination data collection and Food and Drug Administration submission for vaccine approval.
On the other hand, the Department of Science and Technology is funding a genomic sequencing project for animal disease research, set for completion by
“Costly,” A2
Sydiongco, who was CAAP chief under the Duterte administration, added, “In Asia Pacific, less than 20 percent of civil aviation authorities are in compliance with this Annex 13 requirement. There will always be an element of doubt on the result of [our] investigation.”
In a separate interview, former Philippine Airlines president and aviation professor Avelino Zapanta said that while ICAO has no police function, its member civil aviation authorities like the US Federal Aviation Authority (FAA), the European Union Safety Agency (EASA), etc., in a sense, do. “They can downgrade and/or blacklist countries if such countries do not implement the ICAO regulations, and their respective regulations. All records of aircraft accidents/incidents are reported to the ICAO which then
‘Signatures can’t amend, or make me break the law’
SENATE President Chiz Escudero remained unfazed by renewed pressure for him to immediately convene the Senate as an impeachment court even during its recess, saying he will stick to the plan and timeline he had earlier disclosed.
“No amount of signatures will amend the law nor convince me to violate it by convening the impeachment court during recess and without complying with the requisite conditions precedent,” Escudero said in a text message to reporters.
“The law is not bendable and should not bow to anyone’s dictate simply because of their own desire, bias and timetable of wanting to rush the impeachment proceedings vs. Vice President Sara [Duterte],” he added.
He was reacting to a signature campaign mounted by various faithbased groups targeting 1 million signatures until June 8, supposedly to show there is a public clamor for VP Duterte’s immediate trial.
Escudero had been on the receiving end of public exhortations calling on him to convene the court even before the June 2 schedule he had earlier laid down, in compliance, they said, with the constitutional mandate for a Senate president to convene the court for trial “forthwith” after getting the impeachment complaint from the House of Representatives.
The Senate adjourned for its scheduled recess last February 5, hours after receiving the four articles of impeachment from the House. He had repeatedly said that as Senate president, he can only set in motion the preparations, such as creating the support units for the Senate secretariat to help the senator-judges’ work, but not convene the chamber as an impeachment court. Several groups have filed separate petitions in the Supreme Court, to compel Escudero to convene the chamber as an impeachment court, saying the four-month lag between February 5 and January 2 is too long and not in the interest of justice. One petition is for declaratory relief, for the court to determine what exactly
Editor: Jennifer A. Ng
SM Prime unit to build new hotels, convention centers
By VG Cabuag @villygc
SM Hotels and Convention Corp. (SMHCC), a unit of SM Prime Holdings Inc., said it is investing almost P15 billion in its five-year expansion program, which includes the development of eight new hotels and two convention centers.
The investment will add more than 1,500 guest rooms in its current portfolio, the company said.
“The rise in hotel stays and event bookings signals a vibrant rebound for the hospitality and meetings, incentives, conferences and exhibitions [MICE] sectors,” said Peggy E. Angeles, executive vice president of SM Hotels.
SM Hotels’ portfolio includes 10 hotels—spanning luxury Conrad and Radisson Blu; leisure, such as Taal Vista and Pico Sands; and business like Park Inn and Lanson Place brands. It has eight convention centers and trade halls under the SMX brand.
It recorded strong occupancy rates across its hotel and convention properties last year, driven by the increasing demand for travel. The company said it had a 67 percent occupancy rate, marking a 2 percentage-point increase from the previous year. Its properties in Metro Manila the National Capital Region outperformed the hospitality industry, averaging 71 percent occupancy, compared to the 61 percent yearend industry average.
SMX Convention Centers also saw a 15-percent rise in hosted events, drawing 6.3 million visitors in 2024.
The company’s halls and function rooms welcomed major trade shows, corporate events and industry exhibitions.
Many of these events have returned to or surpassed pre-pandemic levels, reflecting strong recovery and sustained market interest.
Aside from its expansion plans, SMHCC is enhancing its competitive edge with new function rooms, additional food and beverage outlets, and room renovations at Taal Vista, Pico Sands Hotel and Park Inn by Radisson Davao.
Its parent firm SM Investments Corp., meanwhile, reported a consolidated net income of P82.6 billion in 2024, a 7-percent increase from the P77 billion recorded in 2023.
Consolidated revenues also grew by 6 percent, reaching P654.8 billion, up from P616.3 billion in the previous year.
“We ended 2024 with a strong performance, despite the high base of 2023 and inflationary headwinds during the year. Our core businesses all grew, supported by positive macroeconomic fundamentals and healthy consumer sentiment. The fourth quarter registered the highest revenue growth rate of 9.4
percent, giving us solid momentum into 2025,” Frederic C. DyBuncio, the company’s president and CEO, said.
Of total net income last year, banking contributed the largest share at 49 percent, followed by property at 26 percent, retail at 18 percent and portfolio investments at 7 percent.
SM Retail posted a net income of P20.9 billion, a 5-percent rise from P19.9 billion in the previous year.
Retail revenues also grew 5 percent to P434.5 billion, up from P412.9 billion in 2023.
The food retail segment was the strongest performer, as it saw a revenue growth of 8 percent driven by expanded store networks and improved customer engagement.
Specialty stores also saw solid performance, posting a 3-percent revenue growth, while department store operations remained resilient.
“In retail, discretionary spending remained strong throughout the year, particularly in branded fashion, health and beauty, and household appliances. Meanwhile, food retailing gained momentum across all formats in the fourth quarter as inflation tapered,” DyBuncio said.
FB1
Topline in talks with strategic investor Berde
CEBU-BASED Top Line Business Development Corp. (Topline) said it is in discussion with a strategic investor, which will acquire primary shares during its initial public offering (IPO) next month.
Erik Lim, Topline’s chairman, president and CEO, said talks with the investor are at an “advanced stage.” While he did not provide more details, Lim said the shares that the investor will acquire will not be enough for a board seat.
“For the expansion, we’ll see in the next couple of years, if the expansion is still going to be part of the strategy. But for now, we’re focusing on the network expansion for the group.”
He said the timing of the company’s maiden offering next month is “just right” since its fundamentals are good.
“If you look at the fundamentals
of the company, for Topline for the past several years, we’re actually quite happy with the with the growth a figure of 53 percent (increase) in net income.”
The company, expects to raise up to P764.2 million in net proceeds from the sale of up to 2.14 billion primary common shares at an indicative offer price of up to P0.38 per share subject to a book-building process.
Topline’s target listing date on the Philippine Stock Exchange is set on April 8.
The company seeks to use the net proceeds for its vertical integration strategy which will allow it to manage key aspects of its operations from sourcing to distribution, representing both its commercial fuel trade and retail market segments.
“In view of the feedback from potential institutional investors, we have updated our expansion
plans and IPO proceeds to focus on growing our current depot space, improving our importation processes and expanding our operations.
This approach will help us strengthen our market position to reliably supply fuel in the highgrowth Central Visayas region and deliver more value to our shareholders in the long run,” Lim said.
The company intends to use a portion of the net proceeds for the construction of additional 20 service stations under the Light Fuels brand expected to be operational within 2025 to 2026. Light Fuels will include Light Fuels Express stations among the target service stations.
Express stations are designed with smaller space requirements and high motorcycle service turnovers. Intended to cater to two-wheeled
vehicles and other light vehicles, its stations will also include a quick motorcycle wash and helmet wash area, as well as expedited payment processing and acceptance through Radio Frequency Identification-enabled lanes for customers requiring technology-enabled transactions.
Currently, Light Fuels has four operational stations while six fuel stations are in various stages of construction and development.
By the first quarter of the year, the company aims to have 10 operational stations, including three Light Fuels Express.
Topline is targeting an expanded network of 30 operational Light Fuels stations by 2026 which includes the 20 stations to be funded by the IPO’s net proceeds.
The company also seeks to acquire one fuel tanker with a capacity of 5 million liters. VG Cabuag
Wyn Power begins construction of solar project
WYN Power Corp. broke ground for a 50-megawatt peak (MWp) ground-mounted solar photovoltaic (PV) project in Taysan, Batangas.
The company said the P1.5-billion solar project will boost the power requirements of Batangas Electric Cooperative 2 (Batelec2) and nearby electric cooperatives. It will also generate up to 74 million kilowatt-hours of clean energy annually.
“This 50 MWp addition to the Luzon grid will significantly benefit industries and consumers served by Batelec2 and nearby electric cooperatives,” said Wyn Power President and CEO Rodel B. Arada.
This ambitious undertaking is being developed under the Department of Energy’s (DOE) Green Energy Auction Program 2 (GEAP-2). Winning the bid in December 2023 secured the project a green energy tariff of P4.10 per kilowatt-hour upon completion, further incentivizing the shift to renewable energy.
The solar plant will connect to the grid via a 2.3-kilometer tap into Batangas Electric Cooperative II’s 69kV transmission line.
By Lenie Lectura @llectura
ILIPINO firm Berde Renewables Inc. has partnered with Thailand’s Power Systems and Solutions Co. Ltd. (PSS) for the development of 300 megawatts (MW) of renewable energy (RE) projects.
Berde Renewables is a portfolio company of Isquared Capital, an independent global infrastructure investment manager. PSS, meanwhile, is a leading supplier of products and services, and equipment for the oil and gas, energy, and industrial markets.
Berde Renewables and PSS will jointly develop and deploy solar photovoltaic, battery storage, and hybrid energy solutions to support Thailand’s growing demand for sustainable power in industrial, commercial, and grid-scale applications. They will start with operating assets of 18.9 megawatt peak (MWp), 30 MWp under construction, and 170 MWp in the pipeline, with a goal to
develop, own, and operate 300 MW of renewable projects over the next three years.
Both will provide integrated solutions that enhance energy efficiency, asset management, and extend the lifespan of key infrastructures across Thailand’s renewable energy market.
“The energy transition demands bold action and strong partnerships. This joint venture strengthens Thailand’s renewable energy landscape by combining PSS’s deep market expertise with ISQ/Berde’s global expertise,” said Sam Yamdagni, founder and CEO of PSS Group.
For Berde Renewables, the partnership is key to advancing its vision of accelerating the global transition to renewable energy.
“By combining our strengths, we aim to deliver innovative, world-class renewable energy solutions and empower organizations and industry leaders to drive decarbonization and sustainability, shaping a greener future,” said Morris Zhou, Co-founder of Berde Renewables.
“Today’s event is a testament of the collaboration between government and the private sector under the successful GEA-2. We welcome the investment of Wyn Power and we eagerly await your project’s completion,” DOE Assistant Secretary Mario Marasigan said during the groundbreaking ceremony held Wednesday.
Armando L. Diaz, Wyn Power business development partner, expressed gratitude to stakeholders for their cooperation in bringing the project to fruition. With permitting complete and financing discussions underway, construction is slated to begin by March.
“We are confident that with the support of the banking community, DOE, DENR [Department of Environment and Natural Resources], and other stakeholders, to Wyn Power, a reputable developer of renewable energy projects, we will be able to bring this project into fruition.” Lenie Lectura
“We stand tall that this project will be able to help the country’s renewable energy aspiration while providing muchneeded employment in the countryside,” said Arada. The DOE said the solar project will help the government realize its renewable energy goals.
DMCI, Nickel Asia seal pact for nickel processing plant
By VG Cabuag @villygc
DMCI Mining Corp. and Nickel Asia Corp. on Wednesday said they signed a memorandum of understanding (MOU) on the development and operation of a nickel processing plant in the Philippines.
The two firms said they will combine their resources, technical expertise and mining assets to strengthen the country’s nickel processing capabilities.
“After extensive discussions, we are now ready to move forward with this strategic initiative. This project is more than just a business—it’s a step toward creating jobs and ensuring the sustainable use of our mineral resources. By laying the groundwork early, we can help position the Philippines as a key player in the global nickel supply chain,”
said Tulsi Das C. Reyes, president of DMCI Mining.
“Despite the current oversupply of nickel globally, we remain confident in the sector’s bright future, driven by the growing demand from the electric vehicle and stainlesssteel markets.
Establishing an economically viable nickel processing plant in the Philippines requires several factors to align, including clear government policy directions and regulations, but proactive preparation is crucial. With the significant nickel resources needed and complex logistical challenges to navigate, early planning is essential for long-term success,”
Martin Antonio G. Zamora, president and CEO of Nickel Asia, said.
Under the agreement, Nickel Asia will contribute its expertise in nickel processing technology and exploration, while DMCI Mining will provide new assets, along with its strength in construction and engineering.
Over the next two to three years, both companies will collaborate to identify the suitable technology, se-
lect an optimal site for the plant, and secure a steady supply of nickel ore through joint exploration, subject to approval of necessary permits. The parties also agreed to discuss the equity structure of a potential joint entity for the plant’s development and operation.
The planned facility aims to process low-grade nickel ore that is currently not viable for export, maximizing the country’s mineral resources, generating new opportunities and boosting the local nickel industry.
Tax
exemption on petrol goods
THE Bureau of Internal Revenue (BIR) has rolled out new regulations for exemptions and refunds on petroleum products and the full or partial denial of refund claims for creditable input taxes. Internal Revenue Commissioner and Finance Secretary Ralph G. Recto signed Revenue Regulation (RR) 006-2025 and RR 008-2025 on February 27, amending several sections in the Tax Code after the passage of Republic Act No. 12066, commonly known as Create More law.
The first exempts from excise taxes international carriers of Philippine or foreign registry that directly import petroleum products for consumption outside the republic.
The regulation, however, said international carriers must store the petroleum products in bonded storage tanks accredited by the Bureau of Customs (BOC) and comply with the registration requirements for their importation.
Suppliers of petroleum products to international carriers shall be allowed to file a claim for refund of excise tax paid on such products, upon presenting proof that the petroleum products were sold to international carriers of Philippine or foreign registry, read 006-2025.
It requires a written claim for refund with the Commissioner of Internal Revenue must be filed within two years. RR 006-2025 mandates that this claim will be processed within 90 days upon submission of complete documents.
A request for reconsideration may also be filed within 15 days of a denial while and unresolved claims can be appealed to the Court of Tax Appeals (CTA) within 30 days.
“Failure on the part of any official
agent or official/employee of the BIR who deliberately caused the delay of processing and deciding on the application within the 90-day period, and/or on the request for reconsideration within the 15-day period, shall be punishable,” the document read.
The new regulation will cover claims for refunds filed starting April 1, 2025.
Meanwhile, RR 008-2025 laid the rules on the resolution of requests for reconsideration against the full or partial denial of taxpayer-claimant’s claim for refund of creditable input taxes and excise tax paid on petroleum products.
All requests for reconsideration on full or partial denial of refund claims should be limited to questions of law, must focus on legal issues and cannot introduce new evidence. Requests for reconsideration must be filed within 15 days of receiving a denial.
“Upon timely filing of the request for reconsideration, the processing of the refund claim subject of the request for reconsideration, if granted, shall be made within 20 days from the date the decision is issued,” the document read.
For denial of claims within the National Office, including those signed by Assistant CommissionerLarge Taxpayers Service, the Appellate Division will be the processing office while the Office of the Commissioner of Internal Revenue will be the approving office.
For denial of claims signed by the Regional Director, the processing office will be the Legal Division of the Revenue Region concerned while the Regional Director concerned will be the approving office.
Reine Juvierre S. Alberto
Treasuries traders eye even bigger rally ahead
MOUNTING worries over the economic impact of tariffs have traders betting that this year’s almost 3 percent rally in the US bond market is set to gather more strength.
A survey of JPMorgan clients published Tuesday showed wagers on further gains—socalled net bullish positions— are at their highest level in 15 years. Large block trades betting on the benchmark 10-year yield falling below 4 percent are proliferating, while demand for options to hedge against further price increases is on the rise.
Rates on 10-year Treasuries are now roughly 25 basis points away from sliding through that key 4 percent level, with bonds steady on Wednesday ahead of economic reports on private payrolls, factory orders and services activity.
Driving those bets has been investors’ increasing certainty that President Donald Trump’s tariff war will rattle the US economy, sentiment that this week saw traders add to expectations for interest-rate cuts by the Federal Reserve. Anticipation of weaker growth tends to drag Treasury yields lower and push up bond prices, as investors hurry to price in the rate cuts that a slowing economy typically brings.
So far, the moves contrast with plans laid out by the Trump administration, which envisioned lowering yields by reducing energy costs and slashing the deficit enough to ease Wall Street’s concerns about the everrising supply of new government bonds.
“The market continues to be spooked by the potential of lower growth,” Citi strategist David B ieber wrote. “Tactical positioning is now one-sided long and deeply in profit.”
Traders are gearing up for jobs data on Friday that offers a crucial read on the health of the US economy following Trump’s first
Banks’ exposure in volatile real estate sector widened
By Reine Juvierre Alberto @reine_alberto
THE exposure of Philippine banks and trust departments to the volatile real estate sector inched up by December last year, latest data from the Bangko Sentral ng Pilipinas (BSP) revealed.
The data showed the real estate loan (REL) ratio of banks and trust departments averaged 19.75 percent as of end-December 2024, the highest since the 19.92-percent REL rate recorded in end-June 2024.
By Jovee Marie N. dela Cruz @joveemarie
THE leadership of the House of Representatives on Wednesday vowed to continue working to ensure that this downward trend in inflation results in more savings and better opportunities for Filipinos.
Speaker Ferdinand Martin G. Romualdez and House Committee on Ways and Means Chairman Jose Ma. Clemente “Joey” S. Salceda issued separate statements after the Philippine Statistics Authority (PSA) reported that inflation further eased to 2.1 percent in February from 2.9 percent in January, “marking a sustained downward trend that reflects improving economic conditions.”
month in office. But before then, they could also get more detail on whether new 25 percent duties imposed Tuesday on most Canadian and Mexican imports—and a decision to raise tariffs on China—are here to stay.
Commerce Secretary Howard Lutnick told Fox Business Network that Trump may yet offer a pathway for tariff relief for Mexico and Canada. That news whipped markets in late trading on Tuesday.
Traders have been putting money to work on the back of lower Treasury yields, as recent activity in the 10-year options market has soared. The bulk of the action however has been focused in the April and May 10-year call options, on strikes specifically targeting yields at 4.15 percent and then as low as 3.85 percent. The activity has also bled into 5-year Treasuries, where one trade Tuesday looked to aim for a 3.35 percent yield level. Open interest, or the amount of risk held by traders in Treasury options, has surged across a number of call strikes on 10year notes. The trades have been making money. One example is a position bought on Monday in May calls for a premium of roughly $27 million. Following Tuesday’s extension of the bond market rally, the same position was worth approximately $40 million, at one point. Over the past week, approximately $150 million has been spent on a handful of stand out trades.
A survey of JPMorgan Treasury clients showed a rise in long positions of 8 percentage points and a drop in neutrals by 9 percentage points in the week to March 3. The short positioning increased 1 percentage point. The client net positioning has now shifted to the biggest long since October 2010. Bloomberg News
“This is great news for every Filipino family. The continued drop in inflation—from 2.9 percent in January to 2.1 percent in February—proves that President Ferdinand R. Marcos Jr.’s economic team is getting the job done,” Romualdez said.
The Speaker underscored the administration’s “unwavering commitment” to food security and economic stability. He also cited that the House of Representatives actively supported these initiatives through
THE dollar fell to a threemonth low on concerns about the negative impact of US tariffs on the economy, with losses particularly stark against the euro.
The Bloomberg Dollar Spot Index fell as much as 0.6 percent on Wednesday to its weakest level since December 9. The euro was among the best performers against the greenback as Germany unveiled plans to boost defense and infrastructure investments, rising to $1.07, a level last seen on November 11.
The dollar has been on a downward trend this week as the US put into force trade tariffs on Canada and Mexico, fueling concern that a global trade war will weigh on economic growth and force major central banks to cut interest rates further. Swaps imply 71 basis points of easing from the Federal Reserve by the end of the year, compared to 66 basis points on Friday.
“The US economy could slow down further and force the Fed to resume its easing cycle in the second half of the year,” said Valentin Marinov, head of global FX strategy at Credit Agricole CIB. “The Fed may also
The banks’ REL ratio stood at 19.80 percent while the trust departments’ REL stood at 7.21 percent in end-December 2024, the data revealed.
In absolute terms, the BSP said the
key legislative measures aimed at reducing the cost of living.
“The Marcos administration has remained laser-focused on stabilizing prices, ensuring food security, and protecting the purchasing power of our people. We in the House of Representatives fully support these efforts by passing laws that make life easier for ordinary Filipinos—whether it’s lowering food costs, ensuring stable energy prices, or creating more jobs,” Romualdez said.
Romualdez highlighted the government’s decisive actions in addressing rice prices, smuggling, and hoarding as crucial steps in curbing inflation. He cited the role of the Quinta Committee (Quinta Comm) in investigating irregularities and ensuring that essential goods remain affordable and accessible to consumers.
The Speaker assured the public that the government remains committed to sustaining this momentum and ensuring that inflation continues to decline, translating to more financial relief for households.
“This is just the beginning. We will continue working to make sure that this downward trend in inflation translates to more savings, better opportunities, and an improved
have to put an end to its quantitative tightening programme to accommodate US President Donald Trump’s fiscal spending plans. This could erode the USD exceptionalism.”
At the same time, moves in Washington to decrease its defense presence in Europe have prompted leaders in the region to quickly plan to beef up its military capabilities. Germany plans to unlock hundreds of billions of euros for defense and infrastructure investments in a dramatic shift that sent the euro surging and the nation’s bonds slumping.
While the greenback is often considered as the safest of global currencies due to its liquidity and political stability, Deutsche Bank AG has put that into question. The bank’s global head of FX strategy George Saravelos said the currency may lose its traditional safe-haven status as global markets adjust to a new geopolitical order.
“The strong recovery in the euro suggests that Europe’s star is rising, as the USD continues to lose its luster as the ‘Trump Bump’ comes to an end,” said Kathleen Brooks, research director at XTB. Bloomberg News
quality of life for every Filipino,” Romualdez said.
Assuring the public of the government’s commitment to maintaining this momentum, the lawmaker emphasized that further inflation reductions would translate into greater financial relief for households.
Encouraging news
MEANWHILE, Salceda hailed the country’s February inflation rate of 2.1 percent as a significant economic achievement, emphasizing that the more encouraging news is the nearly 5 percent year-on-year decline in rice prices.
“I take this as a sign that we can continue with our rate cuts and pursue a more aggressive expansionary stance on the fiscal side,” the lawmaker said adding that he is optimistic about sustaining economic momentum.
While celebrating the positive inflation data, Salceda underscored the importance of supply-affirming initiatives such as improvements in farm inputs and logistics. He noted that the country’s highly volatile fruit and vegetable sector would greatly benefit from expanded cold storage facilities, which the administration has prioritized.
Moving forward, the lawmaker
EDERAL Reserve Bank of New York
FPresident John Williams said he anticipates tariffs will contribute to inflation, but emphasized there is a lot of uncertainty about how the economy will respond to President Donald Trump’s levies.
“Based on what we know today, given all the uncertainties around that, I do factor in some effects of tariffs now on inflation, on prices, because I think we will see some of those effects later this year,” Williams said Tuesday during the Bloomberg Invest conference in New York. You also “have to factor in how does that affect economic activity—decisions by businesses to invest, consumers to spend?” Williams said. “And that’s where I think another big uncertainty is.”
When asked whether policymakers will consider adjusting interest rates at this month’s meeting, Williams said monetary policy is in a good place and that he doesn’t see the need to change borrowing costs right away. He described policy as “modestly restrictive,” and reiterated he expects inflation to move toward the central bank’s 2 percent goal over time.
Policymakers left borrowing costs unchanged in January after lowering their benchmark interest rate by a full percentage point late last year. Officials have said they want to leave rates steady until they
said several critical economic measures are needed to ensure longterm stability and growth, including enhancing port infrastructure and inter-island trade, revitalizing the fisheries sector, ensuring industry resilience, and creating a high-standard highway network and Bicol rail. Salceda said more ports and lower inter-island trade costs are necessary to improve the country’s supply chain efficiency.
He also suggested revisiting the Cabotage Law, which currently restricts foreign shipping companies from participating in Philippine inter-island trade. He believes repealing restrictive provisions could enhance competition and lower domestic shipping costs.
“We should also look at our rapidly deteriorating fish capture sector and see how we can make this more sustainable through aquaculture,” Salceda added.
Before the administration ends, the lawmaker emphasized the importance of jumpstarting the “High Standard Highway Network” program to establish a robust road transport backbone across the country. Salceda also highlighted the necessity of financing the Bicol rail project to enhance connectivity and economic activity in the region.
see more evidence inflation is on track to reach 2 percent. During the conversation with Bloomberg Television’s Michael McKee, Williams said he expects good growth this year, albeit slower than last year. The New York Fed chief said businesses passed through the costs of tariffs to their customers after the levies were enacted on some goods in 2018. While firms are more attuned to how to pass along price increases, he said many consumers are also more price sensitive.
Inflation expectations
WILLIAMS said he is watching inflation expectations “very closely” and said talk about tariffs is influencing how consumers think about price growth in the near term. However, he said he still isn’t seeing “as much of an indication in most of these surveys that that’s about long-run inflation or inflation in the future.” Stock markets around the globe plunged this week, reflecting President Trump’s sweeping tariffs on America’s largest trade partners and mounting worries about the growth outlook. The US levied 25 percent tariffs on most goods from Canada and Mexico and doubled tariffs on China to 20 percent. Investors now
Health& Fitness
Health experts, advocates unite to raise awareness for rare diseases
By Candy P. Dalizon Contributor
Despite their name, rare diseases have a surprisingly widespread impact. Recognizing the u nique needs of those living with rare diseases, health experts, advocates, and patient groups called f or increased public awareness and powerful advocacy to drive meaningful change.
A ccording to Global Genes, a nonprofit advocacy organization for individuals and families fighting rare and genetic diseases, over 4 00 million people worldwide are living with a rare disease, and even more are impacted by the effects on their loved ones and caregivers.
i n t he p h ilippines, there are 156 conditions that are considered rare with an estimated 6,500 affected Filipinos, although the actual number may be much higher due to lack o f diagnosis and awareness.
Last February 28, 2025 on Rare Disease Day, the Department of Health (DOH), the p h ilippine s ociety of Orphan Disorders ( p s O D), the p h ilippine Alliance of p a tients’ Organizations ( pA p O), National i nstitute of Health (N i H ), and global biopharmaceutical company AstraZeneca came together to underscore t he immense challenges endured by individuals with rare diseases.
i n a r oundtable event titled “More
t h an You Can i m agine: Collaboration to tr ansform Rare Disease Outcomes in the p h ilippines,” they emphasized the urgent need for action and awareness.
Raise awareness
O N e i nitiative to raise awareness was this year’s “Light Up for Rare” campaign, part of Global Rare Disease Awareness Week. Also held on February 28, at 7 pm, people around the world lit up their homes, landmarks, and buildings in Rare Disease Day colors. With these creative
MAKA ti M edical Center (MakatiMed) successfully concluded its 5th accreditation survey last February 17 to 21, 2025. it i s the first hospital in the ph ilippines to be accredited under the Joint Commission i nternational (JC i ) 8 th e d ition Accreditation s t andards. t h is latest edition sets a higher benchmark for quality and patient safety, focusing on risk reduction strategies, data-driven performance improvement, and an enhanced emphasis on patientcentered care.
JC i surveyors conducted a thorough assessment of MakatiMed’s systems, procedures, and patient care protocols. t he y commended the hospital for its best practices, outstanding commitment to quality, and dedication to patient safety, and also provided valuable recommendations and insights to further enhance operational excellence.
Dr. s a turnino p. Javier, MakatiMed i n terim Co- p r esident and C e O a nd Medical Director, expressed his profound gratitude to all divisions and personnel who played a role in preparing for and executing the survey.
t h is achievement is a testament to the hard work and dedication of our entire MakatiMed community… [W]e are proud of the strides we have made in strengthening our systems and ensuring that patient care remains our top priority,” Dr. Javier stated.
d isplays shared online, thousands showed support and raised awareness of rare diseases.
i n the p h ilippines, the ps O D is one of the organizations advocating for improved health outcomes f or rare disease patients. p s O D helps patients by making treatment more accessible, giving emotional support to families, running a wareness campaigns, and pushing for the implementation of the Rare Disease Act.
s igned into law in 2016, the Rare Disease Act (RA 10747) officially recognizes rare disease patients as persons with disabilities, which helps them access healthcare, financial aid, and other benefits. H owever, more must be done to implement the law across the country so that all patients living with r are diseases can benefit.
“Raising awareness is just the first step—true change happens when policies are fully implemented, treatments become accessible, a nd no patient is left behind,” said Janet Kochis, ps O D p r ogram Officer for p a tient Care and Family s upport.
t h e Rare Disease Act was a milestone, but we must continue working to ensure that every Filipino living with a rare disease gets t he care and support they deserve,” added Kochis.
Rare diseases as ‘orphan disorders’ tH e d efinition of rare diseases varies from one country to another. t he World Health Organization (WHO) recognizes that a rare disease is often defined as a specific health condition affecting 1 in 2,000 individuals or fewer in the general p opulation.
i n t he p h ilippines, rare diseases, also known as orphan disorders, are defined as conditions that are long-term, often life-threatening or chronically debilitating, and affect fewer than 1 in 20,000 individuals.
i nd ividuals living with rare diseases in the p h ilippines may experience social challenges due to limited awareness and support systems, which can lead to feelings of isolation. t h e Rare Disease Act of the p h ilippines aims to address these challenges by improving access to care and support.
t h e ps O D website lists several rare diseases, including Congenital Central Hypoventilation s y ndrome, Fabry Disease, Gaucher D isease, Maple sy rup Urine Disease (M s U D), Mucopolysaccharidosis (M p s ), and po mpe Disease.
Impact of rare diseases
tH e sheer number of identified rare diseases underscores the immense and pressing difficulties f aced by affected individuals and their families. t h ey grapple with prolonged diagnostic journeys, scarce or nonexistent treatments, and systemic barriers fueled by a lack of awareness, even among medical professionals. t h ese often-invisible burdens are deeply f elt, making their struggle a fight not just for essential care but for recognition and dignity.
ty pically, it takes years for a patient to receive an accurate diagnosis, with many being misdiagnosed a long the way, which prolongs suffering and complicates treatment o ptions.
tr eatment is another problem. While ongoing research and clinical trials hold promise, access r emains limited. A recent study disclosed that only around five percent of rare diseases have FDAapproved therapies worldwide, leaving millions of patients without treatment options.
e x perts and advocates also shared that the daily lives of Filipino rare disease patients and their f amilies are marked by more than just medical challenges. t h ey encounter persistent logistical barriers, including geographic remote -
ness, difficulties in coordinating c are, inadequate transportation, and limited access to advanced technologies. t h e emotional and financial toll is substantial, with caregivers bearing overwhelming burdens of care and support.
Lotis Ramin, p r esident of AstraZeneca p h ilippines, said addressing rare diseases requires m ore than just medicines. e f forts must include adapting healthcare systems, fostering education, and enhancing cooperation in the whole rare disease community to ensure improved outcomes for those affected.
“As we establish our stronger Rare Disease presence in the p h ilippines, we pledge to work towards o ur goal of transforming end to end rare disease care through innovative solutions for early screening a nd detection, diagnostics, care, and treatment access navigation,” said Ramin.
No patient is left behind pAR t i C i pAN t s during the roundtable event agreed that rare diseases c annot be addressed by one organization alone; it takes the whole r are disease community, including experts, patients, innovators, and policymakers.
“Addressing rare diseases requires more than just medical b reakthroughs; it demands a united effort from policymakers, healthcare professionals, advocates, and t he community,” said Dr. Melanie Alcausin, Director of the i n stitute of Human Genetics ( i H G), National i n stitutes of Health.
“With the p h ilippines actively pushing for stronger rare disease policies, now is the time to turn awareness into action and ensure that no patient is left behind,” Dr. Alcausin added.
For more information and resources on rare diseases, visit p h ilippine s o ciety for Orphan Disorders or Rare Diseases i n ternational.
Collective action is key to combating dengue surge
e C e N t d engue outbreaks emphasize that both individual and collective action are vital to combat this threat. While it is often said that dengue prevention starts at home, its impact ripples across entire communities, making unified efforts indispensable.
Dr. Florentina ty, immediate past president of the p h ilippine p ed iatric s o ciety ( p ps ) a nd a staunch advocate for dengue prevention, emphasized the importance of community collaboration. p e ople know the importance of cleaning their homes and removing mosquito breeding sites. But sustainability is the challenge. t h ese efforts must become habits, not something done just when cases spike,” said Dr. ty t h e problem we face is ningaskugon,” Dr. ty n oted, referencing the tendency for community efforts to wane after initial enthusiasm. pe ople take action when cases rise, but once they decline, they become complacent. We need to shift this mindset and make these preventive measures a way of life.”
While vaccination offers a crucial layer of protection against dengue, the established prevention methods, particularly the Department of Health’s 5 s strategy, remain fundamental. Dr. ty stressed the effectiveness of the 5 s s trategy: s e arch and destroy mosquito breeding sites, s e cure selfprotection, s e ek early consultation, s u pport fogging during outbreaks, and s u stain hydration for those infected.
Community engagement
DR ty cited the pps Dengue i nt egrated p r ogram, which evolved from the Dengue Warriors initiative in Cebu, which promotes and highlights community-level education and action. t h e Dengue Warriors, originally led by Cebu-based pediatricians Dr. Ronald Leechiu and Dr. Ramon Naharo, started as a workshop series focusing on dengue management and community vector control. t h is localized effort grew into a national movement under the pp s u mbrella.
Dr. ty s aid the workshops provided a structure that resonated deeply with participants.
“What made the program effective was its hands-on approach— combining lectures and practical sessions tailored to different dengue scenarios. t h e community response has been overwhelmingly positive, with participants eager to apply what they’ve learned,” shared Dr. ty t h e program’s success is due to its inclusivity, targeting not only healthcare workers but also parents, teachers, and local government officials. For example, a recent two-day session trained over 350 midwives, 200 parent-teacher association members, and local healthcare providers in dengue prevention.
e d ucating various sectors of the community is key to spreading awareness and fostering long-term behavioral change,” said Dr. ty
Role of LGUs
LG Us play a pivotal role in translating community awareness into sustained action. Cities like Cebu and
International wines, spirits producer introduces e-labels to promote responsible drinking
By Rory Visco Contributor
Filipinos love bonding with family and friends and that almost always involves consuming alcoholic drinks. Alcoholic drinks are then paired with tasty food that Filipinos call “pulutan ” like “sisig,” or even just snacks like chips or even corn-based treats (“cornick ”).
But those who drink alcohol are always told to be mindful of how they consume alcohol.
As the saying goes in the vernacular “ ilagay sa tiyan ang pag-inom, hindi sa ulo,” to remind people to be responsible in their drinking, to know their limits and be in control, and to make smart decisions. This is true to keep oneself and others safe, especially when driving.
Responsible drinking involves pacing the amount of drinks consumed, staying hydrated, never drinking and driving, and being aware of the effects of alcohol on one’s body. By drinking responsibly, dangerous or risky situations and other negative consequences can be avoided while having a good time.
The e-label initiative in an interview with Hadyu i k rami, Head of l eg al, p ublic Affairs, Communications, and s & R at p e rnod Ricard ( p h ilippines and i ndonesia), the p a ris, France-based maker of international premium wines and spirits, he said the company is committed to promote moderation and responsible drinking among those who choose to drink, and creating awareness about the risks associated with harmful consumption.
As part of this commitment, the company introduced digital labels for the very first time in the country. “This is a new addition to our bottles providing detailed information about what’s in our drinks, including health and alcohol information. This initiative is a proactive move on p e rnod Ricard’s part to support responsible drinking, helping adults of legal drinking age make informed decisions about whether and how much they drink.”
He said the digital label helps more people be better informed about their drink. i k rami pointed out that the e-label contains a localized guide to help with moderation, plus tips on national drinking standards and portion sizes from the Food and n u trition Research i n stitute of the Department of s c ience and Technology.
“There is enhanced transparency with clear information on ingredients and other nutritional information. The e-label also provides digital convenience, all via a simple QR code at the back of the bottle, and provides real-time information,” i k rami told the B usiness M irror
Bacolod have demonstrated that coordinated efforts can significantly curb dengue cases. t h ese LGUs have implemented programs such as regular fogging operations, consistent community cleanup drives, and localized dengue monitoring systems.
“What LGUs can learn from Cebu and Bacolod is that engaging communities consistently, not just during outbreaks, can truly make a difference,” Dr. ty e mphasized. “ t h eir integrated approach, which involves the whole community, has reduced dengue cases and saved lives.”
eNd dengue Coalition
Re LAt e DLY, t he p h ilippine Medical Association has established the e m powering Networks to Defeat Dengue ( e N.D. Dengue Coalition), uniting specialty and subspecialty societies to strengthen dengue prevention and management efforts. t h e coalition operates under five pillars: vaccine development, global and local epidemiology, vector control, clinical management, and communication and advocacy.
e a ch pillar has specific objectives, with tasks already assigned.
As the pps and its partners move forward, they remain focused on holistic dengue prevention. t h e World Health Organization (WHO) calls for an integrated, multi-pronged response to dengue which includes vaccination. “Without a vaccine, our current efforts can only go so far,” said Dr. ty. “Vaccination, combined with sustained community engagement and vector control, will be critical to achieving zero dengue mortality by 2030.” Candy P. Dalizon
Ricard has rigorous protocols in place to ensure detailed, accurate and up-to-date information about its products to empower customers to make informed decisions when purchasing and consuming them. “These QR codes, printed on the back labels, will lead consumers to dedicated webpages offering comprehensive product information, health guidelines, responsible drinking advice, and more.” i k rami further explained that this innovation is aligned with the company’s broader goals of transparency and consumer engagement, where digital labelling meets consumer demand for product transparency and information through mobile solutions, and at the same time tailored to their local language with clear, easy-to-understand formats such as infographics, icons, and pictures.
“ i n the p h ilippines, 75 percent of the population already use the internet to seek information and the digital label fits seamlessly into their digital lifestyle. Rollout of the digital label builds on p e rnod Ricard’s existing efforts to encourage consumers to drink in moderation, such as our Drink More Water campaign,” i k rami emphasized.
For consumers who may not be able to access the QR Code, i k rami said p e rnod Ricard provides moderation messaging on the back labels of its entire portfolio. “ s p ecifically, we provide information in the form of warning pictograms on when not to drink—such as if you are below the legal drinking age, during pregnancy and while driving. Additionally, we will not remove any mandatory information from our labels,” i k rami noted.
He likewise emphasized that to ensure accurate and secure product information, p e rnod
He clarified that their digital labels will not substitute conventional labels but should be complementary with each other. “We maintain all the information required by law in the conventional labels, but we took a step further by introducing the digital labels to widen people’s access to all the information they need, such as the ingredients of the product, other nutritional information, national drinking standards, portion sizes, as well as moderation and responsible drinking messaging,” i k rami continued. As “Créateurs de convivialité” or “Creators of conviviality,” i k rami said that true conviviality starts with responsibility by promoting positive and responsible drinking choices among those who choose to drink. “When consumed responsibly, our products can bring people together to celebrate and enjoy the moment. Therefore, reducing harmful drinking is core to our mission. That means we want to encourage consumers to ‘trade up’ in their consumption choices and drink better, not more. That is why we have created an informative platform and easily accessible QR code label to help adults of legal drinking age make informed decisions about whether, what, and how much they drink.” n o w that they have launched the digital label, i k rami said their next challenge is to further raise awareness among consumers. They are, however, optimistic that the e-label will be welcomed in a positive manner by Filipino consumers. He said the company is constantly looking into creative and innovative ways to ensure engagement with consumers who might not utilize the e-label. And with its conviviality culture, he said the p h ilippines will continue to be an important market to them.
“We are proud to be a pioneer of this innovation in the industry, and by rolling out these e-labels, we have set an industry standard and advanced cross-industry progress for digital labelling and connected packaging and experiences via QR codes. We are pleased to see that other industry players have been following in our footsteps.”
DOH monitors rise in hand, foot and mouth disease cases
By Claudeth Mocon-Ciriaco
TH e D epartment of Health (D o H) is continuously monitoring hand, foot, and mouth disease (HFMD) cases after recording over 7,500 cases from January 1 to February 22, 2025. HFMD is a common illness that usually causes fever, mouth sores, and skin rash, the D o H s aid.
sy mptoms may include fever, sore throat, painful mouth sores that blister and a rash commonly found on the hands and feet.
A total of 7,598 cases of HFMD were recorded from January 1 to February 22, 2025. The cases are three times higher as compared to the 2,665 cases recorded in 2024.
Central Luzon
Fi F T y-TW o cases of the HFMD cases are from Central l u zon, M i M AR o pA , Metro Manila, at Cordillera Autonomous Region (CAR). The D o H s aid that 56 percent or 4,225 of the total number of cases are children four years
old below while 2,069 of the cases are children aged five to nine. HF MD can spread through contact with: n Droplets with virus particles made after person sneezes, coughs, or talks n o bj ects and surfaces that have virus particles n Fluid from blisters n p oop B ihirang makamatay ang HFMD at kusa itong
Editor: Anne Ruth Dela Cruz
Sweden’s partnership strengthens sustainable transport initiatives
TEAM Sweden and Swedfund will further back the EDSA Bus Rapid Transit (BRT) project with an additional grant of SEK 3 million, or more than P16 million.
According to the Embassy of Sweden, the initiative underscores the Scandinavian country’s commitment to supporting the Philippines in the latter’s pursuit of sustainable development and economic growth.
Sweden’s top officials for international development cooperation and trade, representatives from Business Sweden, Swedfund and the Department of Transportation (DOTR) signed the grant agreement which formalized the SwedishPhilippine partnership in the transport sector.
State Secretary Diana Janse of Sweden’s International Development Cooperation and Foreign Trade visited Manila for the occasion and boarded a Volvo Bus along the EDSA Busway from Ayala, Makati City to Ortigas, Pasig City and experienced the BRT system’s implementation in Manila.
Japanese ministry, DOLE and WAPES to boost public-employment services
Project Accelerator Acting Director Anna Älgevik shared that Swedfund— Sweden’s development finance institution—is pleased to continue linkages with DOTR on the EDSA BRT: “With this project, our goal is to help create efficient and inclusive transportation solutions that create benefits for both people and planet.”
Swedfund first partnered with DOTR to support the EDSA development in 2018, and have previously contributed grants of about SEK 10 million.
Undersecretary for Road Transport and Infrastructure Jesus Fernando Ortega of DOTR confirmed that the extension of support represents the collective commitment to continuously improving the local public-transport system, building on the strong foundation during the initial phase: “It is a partnership that unites expertise from Sweden with the dedication of local agencies and
Janse confirmed Sweden’s commitment in supporting the Philippines’ sustainable development goals. She affirmed that “Efficient public transportation has a major impact on urban development and economic growth.”
organizations—a synergy vital for addressing current challenges and future demands.”
Through the cooperation in the public transportation sector with the DOTR, Swedish stakeholders aim to showcase their innovative, energy-efficient solutions that align with the Philippines’ goals for commuter-friendly and inclusive urban transport, the embassy said. Swedfund, the deputation said, is also supporting the Iloilo-Guimaras Metropolitan Area in its work of developing public transportation.
A country known for its high sustainability rankings matched with efficient, accessible public-
transportation system, Sweden positions itself as “a reliable and forward-thinking partner to the Philippines,” shared its embassy in Manila.
Team Sweden—composed of the embassy, Business Sweden and Swedish firms—is greatly involved in other areas of the transport sector such as rail and aviation. To further extend the tie-up, the team recently launched the “Bus Transit Innovation Platform” in Cebu—a project that introduces advanced and integrated transportation solutions for public transportation systems in the Philippines.
German Embassy backs Kärcher, IA in preserving Fort Santiago’s legacy
IN a landmark collaboration, Kärcher and the Intramuros Administration (IA) have teamed up for a restorative cleaning project at Fort Santiago, with the German Embassy expressing its strong support for the initiative.
Dr. David Klebs who is the Economics counsellor of the German Embassy highlighted the initiative’s significance in boosting GermanPhilippine ties, as it reflects the growing partnership between the two countries, fostering “not only diplomatic relations but also collaborative efforts in cultural preservation.”
“These efforts by the German company Kärcher stand as a shining example for the dynamic and multifaceted relationship of our two countries. Last year, we celebrated the 70th anniversary of our diplomatic relations, and I am happy to observe that the future of Germany-Philippine relations looks promising.”
The project focused on cleaning parts of the reconstructed main gate and the wall facades of Baluartillo de San Miguel and Medio Baluarte de San Francisco
in a restorative manner. Said effort is part of Kärcher’s 90th anniversary challenge of undertaking 90 cleaning projects in public places, streets, communities, and historic structures around the world in 2025.
“As we celebrate our long-standing passion for technical solutions that make a difference, Kärcher… recommits to preserving cultural heritage across the globe,” said Gen. Manager Darwin Banez of Kärcher Phils. “Having the esteemed Intramuros Administration as our partner is instrumental to this initiative’s success, enabling us to honor the memory of war victims and celebrate the Filipinos’ heroic sacrifices.”
The German Embassy said Fort Santiago remains a concrete symbol of Filipinos’ national identity: a reflection of allegiance to its forefathers’ pursuit of freedom. The IA embarked on this restorative cleaning project in its mission to protect and conserve the significance of Intramuros for generations to come.
The administration deployed key personnel to help in the restorative cleaning project, who were trained by Kärcher experts in the proper, safe and efficient use of cleaning equipment. Kärcher utilized advanced technologies to address environmental issues confronting the fortress—including organic growth.
The solution involved the use of hot water high-pressure cleaners in steam mode using pressure of only 0.5-1 bar across the surface of the structure at 95-degrees Celsius. The heat of the steam is the most important factor in the cleaning process, as it also kills the seeds of the biological growth that are settling in the stones’ pores.
Constructed in 1571 under Spanish navigator Miguel López de Legazpi, Fort Santiago served as a critical defense fortress within the historic walled city of Manila. Today, it stands as a national monument, providing local and foreign visitors with insights into the rich history and cultural heritage of the Philippines.
Fort Santiago is only one of the various sites under IA’s management.
The latter is responsible for the orderly restoration and development of Intramuros as a monument to the Hispanic period of Philippine history. An attached agency of the Department of Tourism, IA provides cultural property conservation and development, commercial property leasing, tourism promotions, and regulatory programs.
sustainability forum tackles green economy, jobs
THE German-Philippine Chamber of Commerce and Industry (GPCCI), in collaboration with the German Embassy in Manila, successfully hosted the recent “Sustainability Forum 2025: The Green Economies of Tomorrow.”
The event gathered leaders from government, businesses and civil society in addressing climate action green infrastructure, and the future of local “green jobs.”
“Germany is a reliable and longterm partner of climate action in the Philippines,” Amb. Dr. Andreas Pfaffernoschke emphasized in his welcome remarks. “Through our global International Climate Initiative, a wide range of projects have been implemented in the Philippines since IKI was launched in 2008. Currently, ongoing bilateral projects amount to €53.4 million,
[or around P3.2 billion]. Our commitment not only underscores our dedication to environmental and climate protection, but also highlights our ambition to create a resilient, sustainable and prosperous society for all.”
The forum centered on three key objectives: evaluating the Philippines’ progress in meeting its Nationally Determined Contributions (NDCs), promoting sustainable infrastructure and business solutions, and empowering the workforce for green jobs. Discussions explored the Philippines’ status in fulfilling its NDCs under the “Paris Agreement,” emphasizing sustainability efforts and policies that affect various sectors. Industry experts discussed best practices in energy-efficient designs, sustainable urban
development and innovative business solutions. Finally, the session on green jobs underscored the importance of equipping the workforce with the necessary skills to thrive in a green economy.
The event featured key experts led by the Climate Change Commission which delivered the keynote on the Philippines’ progress toward its NDCs. The Climate Action panel also included Planet 2050, the United Nations Global Compact, and the Asian Development Bank, as they discussed climate resilience.
The Green InfrastructureBusiness Solutions panel featured the Department of Energy, Palafox Associates, the Philippine Green Building Council, BASF Philippines, and Siemens Inc. The Green Jobs panel had ASSIST, the Department of Labor’s Institute of Labor Studies,
PV2 Energie Philippines, Employers Confederation of the Philippines, and Humble Sustainability.
“The strength of the Philippine economy lies in its people, and green jobs are key to securing a sustainable future,” said GPCCI president Marie Antoniette Mariano. “By equipping our workforce with the right skills and fostering businessled sustainability initiatives, we can drive economic growth while advancing climate action.”
The Sustainability Forum 2025 concluded with a resounding call to action on urging businesses, policymakers and civil society on implementing impactful sustainability initiatives. Through continued collaboration, the vision of a greener, more resilient future is within reach, according to the chamber.
IN a continued effort to improve public employment services nationwide, the Department of Labor and Employment (DOLE) brought together representatives from the World Association of Public Employment Services (WAPES) and Japan’s Ministry of Health, Labour and Welfare in a preliminary meeting last February, where they tackled the forthcoming Japan-WAPES Joint Project for the Philippines.
The initiative was designed to equip DOLE and its 1,592 Public Employment Service Offices (PESOs) with advanced capacities and best practices to further enhance service delivery.
Led by Sec. Bienvenido E. Laguesma, the DOLE delegation met key members of the Japanese team who included Project Coordinator Minako Takasaki of WAPES; Ministry of Health, Labor and Welfare Section chiefs Takashi Sugimori and Harufumi Chonan; as well as First Secretary Yuki Suzuki of the Japanese Embassy.
Laguesma remarked that the opportunity to discuss this collaborative endeavor among DOLE, WAPES and Japan’s Ministry of Health, Labor and Welfare is extremely important for the Philippines: “I look forward to a successful undertaking that will not only strengthen our partnership, but also significantly enhance the delivery of our employment services.”
Usec. Carmela I. Torres for Employment and Human Resource Development Cluster emphasized the timely nature of the project, as she noted its alignment with the government’s commitment under the “Trabaho Para sa Bayan” plan: the nation’s employment masterplan: “We are truly grateful for our partners’ participation in the
AMB. Massimo Santoro of the Delegation of the European Union in the Philippines visited Davao from February 25 to 27—his first visit to the region since his arrival in the country in September 2024.
Santoro said that the “EU reaffirms its commitment and engagement to support long-term peace and development. Mindanao is a priority region of [our assistance, with] the Southern Philippines having received more than P8.5 billion in development initiatives.”
During his outreach, the envoy paid a courtesy call on Sec. Leo Tereso Abellera Magno who chairs the Mindanao Development Authority and Mayor Sebastian Duterte of Davao City. He also visited the “Mindanao Peace and Development Rise” project: one of the bloc’s major programs in the
Japan-WAPES joint project. This…is a testament to our continuous efforts [in improving employment facilitation… We anticipate that it will open doors to key] discussions on strategic alignment, best practices and innovative approaches.”
The importance of robust public-employment services was underscored in President Ferdinand R. Marcos Jr.’s State of the Nation Address last year, where the PESOs’ contribution to enhanced labor-industry coordination was recognized. It led to a 98-percent job placement success rate in 2024. Among the previous year’s notable achievements were the registration of 3 million job seekers, the solicitation of 5.7 million vacancies, the placement of 2.7 million job seekers in local and overseas positions, plus the training of 32,000 job seekers nationwide.
Looking ahead, a high-level meeting is scheduled to take place in Japan next month to further discuss the project’s details. The agenda will focus on DOLE’s “Five-Point PESO Agenda,” which covers the institutionalization of PESOs; personnel capacity development; delivery of core public employment service functions; as well as strengthening of linkages among government, industry and educational institutions, including the acceleration of digital transformation. The Japanese delegation participated in a study tour to benchmark the employment services provided by Quezon City’s PESO. The tour focused on best practices in providing labormarket information, employment guidance and counseling, as well as referral and matching services.
locale, then engaged with local stakeholders and civil society. The envoy was a key speaker in the Mindanao International Studies Society Convention, as he discussed the topic of “Mindanao and EU-Philippines Relations” before students, faculty and alumni from academic organizations in Mindanao.
He also engaged with Ateneo de Davao University’s young leaders in a conversation: “Pakighinabi between the EU Ambassador and Mindanaoan Youth.”
The EU Delegation to the Philippines has launched the youthsounding board as a platform for young people to advise the EU on ways of improving engagement with the youth, promoting participation and empowerment, as well as connecting young people with their peers.
OFFICIALS of “Team Sweden” and DOTR aboard an EDSA BRT
HOST Daphne Oseña-Paez (from left), German Embassy’s Dr. David Klebs, Kärcher Southeast Asia Ltd.’s Daina Bartuseviciute, Intramuros Administration’s Atty. Joan M. Padilla, cleaning expert Gerd Heidrich, and Kärcher Phils.’ Darwin Bañez.
DOLE officials meet counterparts from WAPES and Japan’s Ministry of Health, Labor and Welfare.
STI Bags Anvil Award for third consecutive year
FOR the third consecutive year, STI Education Services Group (STI ESG) bagged silverware anew at the 60th Anvil Awards at the Manila Hotel on January 28, 2025.
Presented annually by the Public Relations Society of the Philippines (PRSP), the country’s premier organization for public relations, the institution brought home the Silver Anvil award for the STI Social Media Pages: Reaching and Guiding Students through Enriching and Innovative Content, under the Public Relations (PR) Tools (Multimedia) category.
“This recognition reflects our commitment to adapting to the evolving demands of technology and using digital platforms effectively to engage, inform,
Aand inspire our community,” STI ESG Vice President (VP) for Academics Karen Precious Tabije said. “At STI College, we continuously strive to innovate and provide meaningful quality education that resonates with our students and stakeholders,” she added.
STI’s official social media pages have played a crucial role in connecting with students by delivering innovative, engaging, and relevant content. These platforms have become essential in fostering communication, sharing information, and creating a supportive
online community.
The new trophy adds to the institution’s collection of Anvil trophies garnered in the past, including the Grand Anvil Award, the country’s highest form of recognition for a PR program for the STI Mobile School.
Widely considered the “Oscars of PR” in the Philippines, the Anvil Awards is a symbol of excellence in PR, bestowing recognition to exceptional PR programs and tools thoroughly screened by esteemed PR professionals.
Keep yourself up to date with all the latest happenings within the institution, gather fun facts and tips, and stay inspired and motivated by liking and following the official Facebook page here, the official Instagram page here, and the official TikTok account here.
BingoPlus unveil ‘Pusta de Peligro’ short films
“SUSTAINABLE gaming
industry” awaits Filipinos as DigiPlus Interactive and its social development arm, BingoPlus Foundation officially launched the Pusta de Peligro Responsible Gaming Campaign at the Gateway Mall 2, Cinema 11.
Launched last January 23, 2025, the campaign aims to educate, prevent, and intervene with the release of three short films. These films aim to promote responsible gaming and encourage the consumers to heed to the campaign’s call: “‘Pag Pusta de Peligro na, pause na muna, dahil ang gaming dapat fun-fun lang.”
Taken from a Filipino metaphor, “Petsa de Peligro,” the partnership aimed to retain and make the campaign relatable among its consumers.
“We took inspiration from the Filipino term, ‘Petsa de Peligro’ as a relatable reminder of those critical moments when choosing wisely what matters most,” said Angela Camins-Wieneke, Executive Director of BingoPlus Foundation. “Through this campaign, we emphasize
that gaming can only stay fun if it’s done responsibly.”
During the premiere, each of the short films contained themes that echoed selfreflection and instigated mindful gaming choices. The first video depicted a story of a woman who had to decide whether to break her piggy bank to place a bet or just keep her savings.
The second short film focuses on an individual who had to decide whether to use his last money to buy lunch or consume it all for a bet.
Lastly, the third clip shows a woman with ragged shoes have to decide between buying a new pair or risking it to win money on a game.
Aside from the short films, DigiPlus also shared its self-exclusion features in its platforms which align with global standards for responsible gaming. These are tools which players can activate to take control of their gaming habits like: options to set daily gaming durations, customize specific gaming schedules, and establish daily loss limits. Hence, each player has the capacity
to curb their gaming hours into specific schedules such as evening or lunch breaks, and set loss limits to ensure that they will not go beyond their budget.
“We hope this campaign will spark a national conversation about responsible gaming,” said Eusebio Tanco, Chairman of DigiPlus. “We want players to feel empowered to make wise choices, families to feel reassured, and communities to see gaming as a safe form of entertainment. The Pusta de Peligro campaign is a crucial step toward that vision.”
To further back up the advocacy of the campaign, DigiPlus invited Teresita Castillo of the International Gambling Counselors Certification Board and financial coach Armand Bengco to discuss the importance of education, early intervention, and expert collaboration in fostering a safe and responsible gaming culture.
Prior to the end of the event, Tanco, Castillo, Bengco, and other DigiPlus executives took an Oath of Commitment as a testament of their commitment to foster a responsible gaming environment. VPR
Mfaith of Catholics amid trials—whether through pandemics, natural disasters, or ongoing conflicts. Set in Mindanao, where Christians and Muslims coexist peacefully, the film invites viewers to reflect on a profound question: Where does belief end and faith begin? Directed by Ceasar Soriano, a veteran broadcast journalist and kidnap survivor, and Rommel Galapia Ruiz, the movie is inspired by true events, it tells the story of Father Rhoel Gallardo, portrayed by McCoy De Leon, a priest who was tortured and martyred for refusing to renounce his faith. The film also pays tribute to the heroism of soldiers who risked everything to protect others. Jerome Ponce portrays 2Lt. Herbert Dilag, a recipient of the Medal of Valor for his leadership in the daring Basilan rescue mission, while Yves Flores plays 1Lt. Bacala, another brave officer who played a vital role in the operation’s success.
Yves Flores plays First Lt. Andrew Bacala, a 24-year-old commanding officer of the 24th Special Forces Company. Known for making decisive moves under pressure, he led the rescue mission as the ASG was trying to escape with their hostages. Adding to the film’s emotional depth and tension, JC de Vera takes on the role of Khadaffy Janjalani, the elusive ASG leader, while Mon Confiado delivers a chilling performance as Abu Sabaya, the group’s ruthless spokesperson.
With a stellar cast including Martin Escudero, Soliman Cruz, Aya Fernandez, and others, In Thy Name is a powerful testament to faith, sacrifice, and resilience in the face of unimaginable terror. Now showing in cinemas nationwide.
PLAYTIME, the Philippines’ most thrilling and innovative online entertainment games brand, is turning up the heat this year. In celebration of hitting a million followers on its Facebook page and every subsequent milestone, @ PlayTimePH is about to blow your mind with the BIGGEST car giveaway of 2025! That’s right—PlayTime is giving away up to 100 brand-new Toyota cars. YES, you heard that correctly! 100! What started as a promise to reward one lucky follower of FB account @PlayTimePH with a car has now skyrocketed into a jaw-dropping giveaway that will see more cars, more chances to win, and a whole lot more excitement. With every milestone of followers of FB page @PlayTimePH hits, the number of cars up for grabs keeps increasing, with the potential for 100 lucky winners who will drive brand-new sedans this summer.
Here’s how the raffle giveaway works:
PH
“PlayTime owes its success to its incredible and ever-growing community. This giveaway is our way of saying ‘thank you’ to those who have supported us and made our journey special,” said Jay Sabale, Senior PR Manager at PlayTime. “As the Playtime community grows, more fun, interactive and engaging games await our customers .”
Here’s how to join the action: Sign up for a PlayTime account. Link your mobile number. Make a deposit and start playing. Follow us on Facebook (@PlayTimePH). As PlayTime’s followers count rises in social media, the number of cars up for grabs increases correspondingly. Whether someone is a first-time player or a seasoned PlayTime enthusiast, this is an opportunity to win big!
The ride of a lifetime is waiting for lucky PlayTime customers —this summer, they can bring home their dream car soon! Terms and conditions apply.
“Ready to roll? Let’s go! PlayTime na!”
LIMITED TIME OFFER FOR MSMES WITH VIBER BUSINESS PROFILE AND SPX EXPRESS ACCOUNT
ONE of the most trusted and downloaded apps in the world, Rakuten Viber champions small businesses anew as it offers limited time nationwide free shipping services through its partnership with fast and reliable logistics provider SPX Express. Micro, small, and medium enterprises (MSME) that use Viber to engage their customers can now offer free deliveries for their online transactions.
To enjoy the exclusive deal, MSMEs must create a Viber Business Profile via vb.me/vibersmbaccountxspx_pr
shipping privileges from SPX Express. Rakuten Viber and SPX Express are offering up to 4,000 free total deliveries, and the redemption of the offer is limited until vouchers last. Viber first introduced the Viber Business Accounts for small businesses in the Philippines in 2023. The superapp recently revealed it noted 194 percent increase in Business Accounts opened by small business owners in 2024, underlining how Viber provided Filipino MSMEs with a platform for customer discovery and engagement.
Rakuten Viber shares that the partnership with SPX Express reflects how free and fast shipping remains a crucial purchasing decision for online customers and should be a key part of MSMEs’ business operations.
“Two years after we launched the Viber Business Accounts for small businesses in the Philippines, we hope to expand and enhance this toolkit in 2025 to support more MSMEs, which collectively play a major role in the economic growth of local communities and the entire country,” says David Tse, senior director for Asia Pacific at Rakuten Viber. “MSMEs can count on Rakuten Viber as a superapp that provides them with the tools and features that support and enhance their business transactions.”
“At SPX, we remain committed to enhancing our services to support the growth of local MSMEs as they expand their digital commerce capabilities and grow their customer base nationwide,” said Martin Yu, head of SPX Express Philippines. Free shipping is for limited redemption only, and MSMEs are encouraged to sign up now for a Viber Business Profile and offer their customers hassle-free, cost-effective SPX Express shipping.
JOLLIBEE, GOOD SMILE COMPANY TEAM UP FOR FIRST FILIPINO BRAND FIGURE IN NENDOROID LINE
OVER the years, Jollibee has established itself as a beloved global icon. With jolly favorites being staples on families’ dining tables and the loveable mascot turning into one of the most recognizable figures, the brand has become a symbol of joy for many people. This has led to many fun and exciting collaborations with notable brands and artists, further cementing Jollibee’s position as a top-of-mind icon in pop culture, both in the Philippines and beyond.
To kick off 2025 with a dose of excitement, Jollibee has announced its latest brand collaboration, this time with Japanese hobby products manufacturer Good Smile Company (GSC). Called Nendoroid Jollibee, the new collectible is part of GSC’s famous Nendoroid line—cute, chibi-style figures around 10cm in size that come with swappable parts and accessories.
As the first ever Filipino brand to have its own Nendoroid figure, Jollibee joins the ranks of popular global brands and characters from famous movies, shows and games. This partnership aims to add more joy to the collections of Jollibee fans and toy collectors alike, as it features a unique style inspired by Japanese culture, while simultaneously celebrating a Filipino icon.
The Nendoroid Jollibee can do a variety of poses, thanks to its exchangeable parts and accessories which include the Chickenjoy bucket and Jolly Spaghetti, making it not only serve looks but also one’s favorite food. The figure also comes with a base and support arm, so collectors can securely place the item on their shelf, desk, or anywhere they want.
Parentlife
The importance of building strong study habits in children
DEVELOPING good study habits in childhood is crucial for long-term success. Experts agree that study habits should be cultivated as early as preschool. American psychologist Carol Dweck’s work suggests that structured learning activities can help children as young as three develop a growth mindset, which can lead to persistence and curiosity. While toddlers do not need formal study sessions, establishing structured routines such as reading time, puzzles, and hands-on learning can lay the groundwork for strong study habits in the future.
Parents and a child’s home environment play a fundamental role in shaping their child’s approach to learning. Simple practices like setting a consistent study time, creating a distraction-free environment, and modeling good learning behavior can significantly enhance a child’s ability to focus and develop discipline. More than this, giving our children the bigger context of learning and studying is very helpful. We do not have to be afraid that they are too young to understand the reality of studying well to build a better future for themselves. On the contrary, I believe it gives a child a bigger sense of control and accountability. I grew up with my dad’s family until I was 8. My grandparents and aunts would tell me as early as when I was 4 how important studying well is
because it determines getting a good job and salary in the future. They would always tell me that how you study as a child becomes practice on how hard you will also work in the future. It stuck to me that it was my choice if I wanted to work harder, because I will be the one facing the benefits of my hard work in the future.
Teachers also play a crucial role in helping children develop positive study habits. I have seen both for myself and for my children that effective teachers do more than just impart knowledge. They cultivate critical thinking and ignite deeper curiosity and even fun in a subject matter. I have seen how my children would have a lot of energy performing assignments of teachers who give performance tasks that promote active rather than passive learning. It is also important for teachers to give rubrics that are clear and appropriately challenging. Children will intrinsically want to continuously do their homework well if the result they will be getting are clear and leveled appropriately.
Dr. Edward Deci and Dr. Richard Ryan developed the Self-Determination Theory. According to the Self-Determination Theory (SDT), forming good study habits is most likely to occur when an individual feels a strong sense of autonomy (feeling in control of their choices), competence (believing they have the ability to succeed), and relatedness (feeling connected to their learning environment or peers), which are the three core psychological needs that motivate behavior. By fulfilling these needs, students are more likely to develop intrinsic motivation to study effectively and consistently, leading to positive study habits. It seems difficult for us to imagine how our child will actually say, “I love studying!” But I truly believe there are many ways both us as parents and teachers can usher our kids to say, “I love learning!” This is why I am such a proponent of art-infused learning. I learned this from the Crayola website where they combine art
with subject learning of math, English, science and even social studies.
Below are some practical tips I have done with my kids when they started preschool, which helped them do their own homework starting in Grade 4:
■ Allow relax time after school like art and playing, preferably not screen time.
■ Set fixed time for dinner and washing up.
■ Set a fixed place for studying—wide enough table, good lighting, and study materials like pens, scratch papers, coloring materials are readily accessible.
■ Go through each subject your child had for that day, whether or not it has homework. I would usually pretend that I am the student and they are the teacher as they run the lesson by me.
■ For those subjects with homework, I give big importance on reading the instructions then them explaining to me what the teacher is asking for. If there is a rubric, I guide them through the instructions, then let them choose which rubric they want to reach.
■ I would ask them what their plan is for this homework and would give suggestions after.
■ I am very strict in ensuring that they do the homework on their own. I encourage them to check their work but if they choose not to, I leave it be so that they understand self-efficacy early on.
Ultimately, building strong study habits in childhood is not just about academic achievement—it is about fostering essential life skills that will serve children well into adulthood. In my experience with my own children, I saw how establishing study habits early shaped their ability to learn independently, think critically, and manage their time effectively. By instilling good study habits, we as parents equip our children with the tools they need to navigate future academic and professional challenges with much more confidence and resilience. ■
UP TO 4 IN 10 PEOPLE COULD DEVELOP DEMENTIA AFTER 55. WHAT YOU CAN DO TO LOWER YOUR RISK
exacerbate brewing Alzheimer’s symptoms.
Measuring the risk from a certain age over the potential remaining life span can guide public health recommendations and medical research.
This newest Nendoroid Jollibee collectible can be preordered starting February 19 until April 2, 2025. Pre-orders can be placed at the Good Smile Company Online Store or through GSC’s official partner shops. You can also check out GSC’s website for more details, including pricing and shipping.
WASHINGTON—About a million Americans a year are expected to develop dementia by 2060, roughly double today’s toll, researchers have reported. That estimate is based on a new study that found a higher lifetime risk than previously thought: After age 55, people have up to a 4 in 10 chance of eventually developing dementia—if they live long enough.
noted. Black Americans had a slightly higher risk, 44 percent, than white people at 41 percent.
YES, THERE ARE WAYS TO HELP LOWER DEMENTIA RISK
It’s a sobering number but there are steps people can take to reduce that risk, such as controlling high blood pressure and other bad-for-the-brain health problems. And it’s not too late to try even in middle
“It’s not a guarantee that someone will develop dementia,” cautioned Dr. James Galvin, a University of Miami Alzheimer’s specialist. He wasn’t involved with the new study but said the findings fit with other research.
DEMENTIA RISK IS DIFFERENT BY AGE
“All of our research suggests what you do in midlife really matters,” said Dr. Josef Coresh of NYU Langone Health, who coauthored the study in the journal Nature Medicine
DEMENTIA ISN’T ONLY ALZHEIMER’S
PRIOR studies estimated about 14 percent of men and 23 percent of women would develop some form of dementia during their lifetime. Coresh’s team analyzed more recent data from a US study that has tracked the heart health and cognitive function of about 15,000 older adults for several decades.
Importantly, they found the risk changes with the decades.
THERE are some risk factors people can’t control, including age and whether you inherited a gene variant called APOE4 that raises the chances of latein-life Alzheimer’s.
But people can try to avert or at least delay health problems that contribute to later dementia. Coresh, for example, wears a helmet when biking because repeated or severe brain injuries from crashes or falls increase the risk of later-in-life dementia.
Especially important: “What’s good for your heart is good for your brain,” added Miami’s Galvin. He urges people to exercise, avoid obesity, and control blood pressure, diabetes and cholesterol.
TAKING longer to recall a name or where you put your keys is typical with older age. But dementia isn’t a normal part of aging—it’s a progressive loss of memory, language and other cognitive functions. Simply getting older is the biggest risk and the population is rapidly aging.
Only 4 percent of people developed dementia between the ages of 55 and 75, what Coresh calls a key 20-year window for protecting brain health.
Alzheimer’s is the most common form, and silent brain changes that eventually lead to it can begin two decades before symptoms appear. Other types include vascular dementia, when heart disease or small strokes impair blood flow to the brain. Many people have mixed causes, meaning vascular problems could
For people who survive common health threats until 75, the dementia risk then jumped—to 20 percent by age 85 and 42 percent between ages 85 and 95.
Overall, the lifetime dementia risk after age 55 was 35 percent for men and 48 percent for women, the researchers concluded. Women generally live longer than men, a main reason for that difference, Coresh
For example, high blood pressure can impair blood flow to the brain, a risk not just for vascular dementia but also linked to some hallmarks of Alzheimer’s. Similarly, the high blood sugar of poorly controlled diabetes is linked to cognitive decline and damaging inflammation in the brain.
Stay socially and cognitively active, too, Galvin said. He urges people to try hearing aids if age brings hearing loss, which can spur social isolation.
“There are things that we have control over, and those things I think would be really, really important to build a better brain as we age,” he said. AP
FROM left: Meagan’s first academic medal in Grade 2 when she chose to aim for it; one of Meagan’s art relaxation time after school; Meagan graduating Valedictorian of her high school class.
LeBron James: Call him Mr. 50,000 pts!
LOS ANGELES—LeBron James became the first player in National Basketball Association (NBA) history to score 50,000 combined points in the regular season and postseason Tuesday night.
James surpassed the mark with a 3-pointer early in the first quarter of the Los Angeles Lakers’ game against the New Orleans Pelicans.
James got to 49,999 points Sunday night when he scored 17 while the Lakers beat the Clippers, 108-102, for their sixth consecutive win.
T he 40-year-old James already is the top scorer in NBA history in both the regular season and the playoffs during a career in which he has rewritten all previous definitions of basketball longevity.
James reached 50,000 points deep into his 22nd season, which ties him with Vince Carter for the most played in NBA history.
L akers great Kareem AbdulJabbar, who played 20 seasons, is second in NBA history with 44,149 combined points.
And while nearly every other NBA player who lasted to his late 30s finished at a fraction of his peak powers, James’s game shows no significant signs of decline in his 40s. He was named the NBA’s Western Conference player of the month earlier Tuesday after he averaged 29.3 points, 10.5 rebounds, 6.9 assists and 1.2 steals in February while playing more than 35 minutes per game for the Lakers, who went 9-2 to surge into second place in the West.
James began Tuesday at third in NBA history with 1,547 regular-season games played, trailing only Robert Parish (1,611) and Abdul-Jabbar (1,560). If he stays healthy and elects to return for a record 23rd season, he will likely surpass Parish next winter.
James has also played in 287 postseason games, the most in NBA history. He became the league’s career playoff scoring leader on May 25, 2017, when he surpassed Michael Jordan’s total of 5,987 during the Cleveland Cavaliers’
Que,
AEastern Conference finals game at Boston.
James then became the top scorer in regular-season history on February 7, 2023, when he topped Abdul-Jabbar’s record of 38,387 points during the Lakers’ game against Oklahoma City.
James’s prolific scoring is due in large part to his metronomic consistency. With his performance against the Clippers, he has scored at least 10 points in 1,277 consecutive games since January 6, 2007—by far the longest such streak in NBA history. James’ player of the month award for February was his 41st, extending his own league record. He also became the oldest player to win the award, surpassing a 37-year-old Karl Malone in November 2000.
Kyrie out of season: Mavs hexed?
DALLAS Mavericks star Kyrie Irving has a torn ACL in his left knee and will miss the rest of the season, the biggest
setback in a season full of them for a team that traded superstar Luka Doncic.
The team confirmed Irving’s diagnosis Tuesday, a day after he was injured in the first quarter of Dallas’ 122-98 loss to the Sacramento Kings.
Following the injury, Irving made two free throws with tears rolling down his cheeks before leaving the game.
The 32-year-old was fouled by DeMar DeRozan on a drive to the basket and his right foot landed on the foot of the Kings’ Jonas Valanciunas. Irving lost his balance and then landed awkwardly on his left leg, and his knee appeared to hyperextend before he fell to the floor.
T he Mavericks lost 10-time
All-Star Anthony Davis to a groin injury in his Dallas debut last month following the trade that sent Doncic to the Los Angeles Lakers.
The presence of Irving was the biggest reason the Mavericks felt they could proceed with the controversial Davis-for-Doncic deal, a move that infuriated the Dallas fan base.
Now, Irving is out for the season, and would figure to be in the final stages of recovery when teams report for training camp for the 2025-26 season. Irving has a $44 million player option for next season.
“K yrie is the heart and soul of this team, and he has embraced the city of Dallas as his home and our fans as an extension of his own family,” said general manager Nico Harrison, the target of most of the criticism over the trade. “His work ethic and absolute dedication to his craft, it’s cut from the cloth of greats.”
A fter he was hurt, Irving grabbed his leg and remained on the floor for multiple minutes. Davis was among those helping Irving to the locker room before coach Jason Kidd spoke to Irving, who then returned to take two free throws. After converting both to pull Dallas within 23-18, Irving was helped into the tunnel.
“The recovery process has already started,” Irving said in a live post on social media. “Just wanted to let you guys know I’m OK, and I will be OK going forward.” AP
46, a threat to tough field in Eagle Ridge
NGELO QUE’S emphatic six-shot victory over rookie Carl Corpus at Pradera Verde reaffirmed that, like fine wine, the veteran only gets better with age. And with his game in top form, the rest of the field—both seasoned pros and rising stars—will have their work cut out in trying to stop the 46-year-old from winning again.
At my age, I can still win—I proved it at Pradera Verde,” said Que, who delivered a wire-to-wire victory in the challenging four-day, P2.5-million championship that kicked off this year’s Philippine Golf Tour (PGT).
The second leg of the 10-stage circuit, the International Container Terminal Services Inc. Eagle Ridge Championship, unfolds on Monday at the Faldo course in General Trias, Cavite, where Que looms as the heavy favorite. With momentum on his side and confidence at an all-time high, he has set his sights on a second consecutive victory to open the season.
“I b elieve I can still compete with the young ones,” he said. “I’m strong, I’m healthy, and experience-wise, I have the edge.” Que pointed to Tony Lascuña, a fellow veteran and five-time PGT Order of Merit winner, as proof that age is just a number in professional golf.
“ Tony has shown that experience still counts, and I believe I can do the same,” said Que.
But beyond skill and confidence, Que credits his resurgence to finally settling down on the local circuit.
“I have peace of mind now. My schedule is based at home, I know my family is safe, and I can see my wife and kids anytime,” said Que, who previously spent months abroad competing in the Asian Tour, Japan Golf Tour and other international events.
W hile Que and Lascuña continue to defy Father Time, a new wave of young talents, including Corpus, Aidric Chan, Lloyd Go, Sean Ryan Monsalve, and recent PGT Q-School topnotcher Jaehyun Jung, who placed third at Pradera Verde, are eager to challenge the veterans.
The upcoming 72-hole Eagle Ridge Championship is set to be even more competitive than Pradera Verde, with notable names such as Guido van der Valk, Michael Bibat, Keanu Jahns, Reymon Jaraula, Clyde Mondilla, Jhonnel Ababa, Jay Bayron and Zanieboy Gialon in the mix. Still, all eyes will be on Que, who has committed to playing the first three PGT tournaments while keeping his options open for possible stints on the lucrative Asian Tour and the International Series.
HD Spikers, Crossovers go after last 2 quarterfinals berths in PVL
CIGNAL and Chery Tiggo fell short in the qualifying round but remain optimistic on securing the last two quarterfinal slots in the Premier Volleyball League All-Filipino Conference. But with four other teams equally determined to punch their ticket to the playoffs, the stage is set for an intense and unpredictable Play-In Tournament, which kicks off Thursday at the PhilSports Arena. The HD Spikers try to reignite their campaign as
Baliton and Andrea Marzan. A gainst Capital1, the HD Spikers seek redemption, but their recent defeat is a stark reminder that no team is safe in this tournament organized by Sports Vision.
T he growing parity in the league means that every match is a battleground, where underdogs are proving capable of stunning the favorites.
C apital1 coach Roger Gorayeb, however, will need to rally his squad— composed of Jorelle Singh, Heather Guino-o, Leila Cruz, Norielle Ipac, Patty Orendain, Rovena Instrella, Trisha Genesis, Sydney Niego, Des Clemente-De Guzman and playmaker Iris Tolenada—after they fell to the second-seeded Petro Gazz Angels in the qualifiers.
S imilarly, Chery Tiggo looks to bounce back from a tough loss to Choco Mucho.
Led by Ara Galang, Cess Robles, Aby Maraño, Seth Rodriguez, Pauline Gaston, Shaya Adorador and setter Jasmine Nabor, the Crossovers will attempt to impose their will early against an unpredictable Nxled squad. The Chameleons, however, possess enough firepower to stage an upset with a roster featuring Chiara Permentilla, EJ Laure, Lycha Ebon, Krich Macaslang, May Luna-Lumahan, Jaycel delos Reyes, Jaila Atienza and Lucille Almonte. Both pools will play a single round-robin series, with the top teams advancing to the quarterfinals, joining Creamline, Petro Gazz, Choco Mucho, PLDT, Akari and Galeries Tower.
‘The Nightmare’ Tapales returns to Cambodia to fight Indonesian
By Josef Ramos
ARLON “THE NIGHTMARE”
MTAPALES will return to Cambodia to fight World Boxing Council (WBC) Asia super bantamweight champion Jon Jon Jet of Indonesia on April 14 for the vacant WBC International Silver super bantamweight title at a still to be undetermined venue in Phnom Penh.
A few months after beating India’s Saurabh Kumar via unanimous decision last September in Phnom Penh, the 32-year-old former unified World Boxing Association (WBA) and International Boxing Federation (IBF) unified champion expressed excitement in fighting anew in Cambodia.
“I ’m very happy to go back to Cambodia,” Tapales said. “The fans gave great support when I fought here for the first time, and I cannot wait to return.
“Thank you to Sanman Boxing,
Knucklehead, KKIF and the WBC for this opportunity,” he added.
Tapales, who is sporting a 39-4 win-loss record with 20 knockouts, said his fight against the 30-year-old Jet could lead him to a possible third world title shot this year after losing his two crowns to undefeated and undisputed Japanese world champion Naoya Inoue in December 2023. J et, 30, is 15-1-1 (win-loss-draw) with 12 knockouts.
“I have no idea who he is but I got a short video clip from his previous fights. I’ll just prepare the same way I did in my previous fights,” Tapales said. “This is a great opportunity for me to boost my stock not only here in Asia but all over the world.” Highly-ranked Joey Canoy will also fight Minh Phat Sam for the WBC International minimumweight title. We are very excited to host another event in Cambodia,” said Jim Claude Manangquil, CEO of Sanman Boxing. “Thank you to our partners at KKIF for making this possible. Expect a great show featuring Marlon Tapales, Joey Canoy and a Kun Khmer title fight.”
LEBRON JAMES, 40, is already is the top scorer in league history during a career in which he has rewritten all previous definitions of basketball longevity. AP
