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https://www.bworldonline.com/
BusinessWorld: The leading and most trusted source of business news and analysis in the Philippines
- Fri, 23 Jan 2026 08:45:05 +0000
+ Mon, 02 Feb 2026 04:12:49 +0000en-US
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- Skin Republic: Where great skin became simple
- https://www.bworldonline.com/spotlight/2026/01/23/726103/skin-republic-where-great-skin-became-simple/
+ VP Duterte faces fresh impeachment complaints
+ https://www.bworldonline.com/the-nation/2026/02/02/727872/vp-duterte-faces-fresh-impeachment-complaints/
- Fri, 23 Jan 2026 08:45:53 +0000
+ Mon, 02 Feb 2026 04:12:49 +0000
+
+
+ https://www.bworldonline.com/?p=727872
+
+
+ Two impeachment complaints were filed against Vice-President Sara Duterte-Carpio on Monday, reviving efforts to remove her from office over corruption allegations after a bid last year stalled when the Supreme Court halted proceedings.
+
The first complaint, filed by activists affiliated with opposition groups, accused Ms. Duterte of misusing hundreds of millions of pesos in confidential funds, ordering subordinates to falsify reports to conceal the alleged misuse and repeatedly skipping congressional hearings on her office’s budget.
+
Ms. Duterte is prepared to answer the allegations, her defense spokesman Michael T. Poa said in a statement. She is confident that an impartial review would find the accusations “devoid of both factual and legal basis.”
+
“The people already know what happened in the past, and we will not give the second-highest official of the land any excuse to be corrupt,” former congresswoman Arlene D. Brosas told a news briefing in Filipino after the complaint was filed at the House of Representatives.
+
The accusations echo similar claims raised two years ago, when calls for Ms. Duterte’s impeachment intensified after a congressional inquiry that found she might have misused more than 612.5 million in confidential and intelligence funds.
+
“The Constitution does not permit such cynical disregard for public trust,” according to a copy of the complaint, alleging betrayal of public trust — one of the five constitutional grounds for impeachment, along with bribery, treason, graft and corruption and culpable violation of the Constitution.
+
It added that the Vice President had treated public funds as a “personal war chest” while evading legislative oversight.
+
The complaint was endorsed by party-list lawmakers Antonio L. Tinio, Sarah Jane Elago and Renee Louise M. Co.
+
A second impeachment complaint was later filed by civil society and religious leaders, accusing Ms. Duterte of corruption, unexplained wealth and betrayal of public trust.
+
“The impeachment complaint is not that different from the previous one,” complainant Francis Joseph “Kiko” Aquino Dee said, noting that the Supreme Court had not cleared the Vice President of the earlier allegations.
+
Ms. Duterte was impeached by the House last year after more than a third of lawmakers backed a fourth complaint, which was transmitted directly to the Senate.
+
She later won a Supreme Court ruling that voided the proceedings, with the high court saying lawmakers violated constitutional rules by bypassing earlier complaints.
+
The court barred impeachment moves against the Vice President until Feb. 6, though its ruling allowed new complaints to be filed starting Jan. 15.
+
Renewed impeachment efforts risk reopening a bitter political feud between the Duterte and Marcos camps, whose alliance in the 2022 elections has since unraveled. — Kenneth Christiane L. Basilio
+]]>
+
+
+
+ https://www.bworldonline.com/wp-content/uploads/2024/09/Sara-Duterte-1-300x200.jpg
+
+ PHL manufacturing activity growth hits nine-month high in January
+ https://www.bworldonline.com/top-stories/2026/02/02/727862/phl-manufacturing-activity-growth-hits-nine-month-high-in-january/
+
+
+ Mon, 02 Feb 2026 01:59:43 +0000
+
+
+ https://www.bworldonline.com/?p=727862
+
+
+ PHILIPPINE factory activity in January expanded at its fastest pace in nine months amid an increase in output and new orders, S&P Global said on Monday.
+
S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI) rose to 52.9 in January from 50.2 in December, the strongest improvement in nine months or since April’s 53.0.
+
A PMI reading above 50 denotes better operating conditions than in the preceding month, while a reading below 50 shows deterioration.
+
Maryam Baluch, economist at S&P Global Market Intelligence, said the January PMI data showed a “marked shift in momentum” after a prolonged period of subdued growth in the second half of 2025 due to weather disruptions.
+
“New orders registered a strong and accelerated uptick, supported in part by a renewed rise in export demand. As a result, production returned to expansion territory for the first time in five months,” Ms. Baluch said.
+
“Firms responded by stepping up their purchasing activity and increasing their staffing levels in January,” she added. — Aubrey Rose A. Inosante
+]]>
+
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+ https://www.bworldonline.com/wp-content/uploads/2024/12/for-PMI-010323_megaSardines07_kjrosales-300x199.jpg
+
+ January inflation seen holding at 1.8%
+ https://www.bworldonline.com/top-stories/2026/02/02/727764/january-inflation-seen-holding-at-1-8/
+
+
+ Sun, 01 Feb 2026 16:34:08 +0000
+
+
+
+
+ https://www.bworldonline.com/?p=727764
+
+
+ By Katherine K. Chan, Reporter
+
PHILIPPINE INFLATION likely held steady in January as lower electricity charges and easing vegetable prices helped offset pressures from higher food and fuel costs and a weaker peso, economists said ahead of official data.
+
A BusinessWorld survey of 18 economists yielded a median forecast of 1.8% for the January consumer price index, within the Bangko Sentral ng Pilipinas’ (BSP) 1.4% to 2.2% projection for the month. That means inflation would be unchanged from December and slower than 2.9% a year earlier.
+
“Headline inflation likely remained steady at 1.8% year on year in January, implying a 0.5% month-on-month increase, as food and energy pressures offset easing utility and vegetable costs,” Bank of the Philippine Islands Lead Economist Emilio S. Neri, Jr. said in a commentary.
+
+
January would also mark the 11th straight month that inflation stayed below the BSP’s 2% to 4% target, reinforcing the view that price pressures remain subdued despite a volatile peso and higher global energy prices.
+
The Philippine Statistics Authority is set to release January inflation data on Feb. 5.
+
Fuel prices rose during the month, adding to inflationary pressure. Pump price adjustments in January resulted in a net increase of P1.60 per liter for gasoline, P3.80 for diesel and P2.70 for kerosene, according to industry data.
+
These increases were partly offset by lower electricity rates. Manila Electric Co. cut power prices by P0.1637 per kilowatt-hour (kWh) to P12.9508 in January from P13.1145 in December. Households consuming 200 kWh paid about P33 less on their monthly electricity bills.
+
Currency movements also influenced price dynamics. The peso weakened sharply in mid-January, briefly hitting record lows against the dollar, which raised concerns over imported inflation.
+
“A relatively higher US dollar-peso exchange rate in recent months amid political noise could have partly led to higher import costs and overall inflation,” Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp., said in a Viber message.
+
The peso slid to an all-time low of P59.46 a dollar on Jan. 15 before recovering modestly. It closed at P58.86 on Friday, according to Bankers Association of the Philippines data posted on its website.
+
Rice prices, a major driver of inflation, fell from a year earlier but rose slightly from December, signaling a slower decline. The government reopened the market to imported rice on Jan. 1 after a four-month ban imposed in September.
+
Data from the Bureau of Plant Industry showed rice imports totaled about 248,000 metric tons from Jan. 1 to Jan. 22, nearing the 279,000 metric tons brought in during the entire month of January last year.
+
“The pace of rice price declines is likely to slow as imports resumed after the government’s import restriction expired in December,” Moody’s Analytics Assistant Director and economist Sarah Tan said in an e-mailed reply to questions. “At the same time, a weaker peso has pushed up import costs, limiting further disinflation in rice prices in January.”
+
Ms. Tan expects inflation to settle at about 2% for the month.
+
In mid-January, the average retail price of regular milled rice fell 9.56% year on year to P43.52 per kilo but rose 3.37% from December levels, Philippine Statistics Authority data showed.
+
Well-milled rice fell 9.13% annually to P50.06 per kilo while increasing 1.07% month on month. Special rice dropped 4.68% from a year earlier but climbed almost 2% from December.
+
Other economists pointed to improved weather conditions as a counterweight to food price pressures. HSBC Global Investment Research ASEAN economist Aris D. Dacanay said inflation might have eased slightly to 1.7% in January.
+
“Food prices, particularly vegetables, moderated after [December’s] surge,” he said in an e-mailed reply to questions, adding that supply conditions might have normalized after favorable weather.
+
Most analysts expect inflation to move back toward the middle of the BSP’s target later this year. Union Bank of the Philippines Chief Economist Ruben Carlo O. Asuncion said unusually low food and rice inflation last year had largely dissipated.
+
“As a result, we anticipate headline inflation to rise back above 2% starting February, as rice deflation narrows and food prices begin normalizing from last year’s very low base,” he added.
+
Metropolitan Bank & Trust Co. (Metrobank) said rental inflation began rebounding late last year following an oversupply of condominium units after the online gaming boom, a trend that may persist through 2026 and add modest upward pressure to inflation.
+
“Given these, inflation could remain positive but moderate,” Metrobank research officers Maria Kaila Balite and Joaquim Pantanosas said in a report. “Low base effects, however, could bring rental inflation higher before normalizing, putting upward pressure on the headline figure.”
+
RATE CUT
+The relatively benign inflation outlook, coupled with subdued economic growth, has strengthened expectations for further policy easing. BSP Governor Eli M. Remolona, Jr. on Sunday said the central bank could deliver a sixth straight 25-basis-point rate cut if the fourth-quarter GDP slowdown proves demand-driven.
+
“If we can help on the demand side and still keep inflation low, then of course we’ll help,” he told reporters in Dumaguete City.
+
He said the Monetary Board is still reviewing whether the slowdown stemmed from weak demand or supply constraints.
+
Despite these risks, subdued price growth and weak economic momentum have strengthened expectations of further policy easing. Mr. Neri said the inflation backdrop supports another rate cut at the central bank’s next meeting.
+
The Monetary Board lowered interest rates five times in 2025, bringing the benchmark rate to 4.5%.
+
Meanwhile, Mr. Remolona said the central bank could revise its 2026 growth forecast but still expects the economy to rebound in the second half.
+
“We’re looking to revise that. I hope we don’t revise it [downward],” he said.
+
He added that the BSP is seeking better data on public sector activity through its expectations survey, particularly as public investment slowed in the fourth quarter.
+
He earlier said policymakers would weigh inflation trends, growth data and US Federal Reserve policy signals when they meet on Feb. 19.
+]]>
+
+
+
+ https://www.bworldonline.com/wp-content/uploads/2023/01/grocery-shoppers-3-300x200.jpg
+
+ PHL recovery likely delayed in 2026 amid corruption drag, analysts say
+ https://www.bworldonline.com/top-stories/2026/02/02/727763/phl-recovery-likely-delayed-in-2026-amid-corruption-drag-analysts-say/
+
+
+ Sun, 01 Feb 2026 16:33:08 +0000
+
+
+
+
+ https://www.bworldonline.com/?p=727763
+
+
+ By Aubrey Rose A. Inosante, Reporter
+
THE PHILIPPINE ECONOMY may shake off its slump by mid-2026, but lingering governance issues and execution bottlenecks could delay the recovery, economists said.
+
Growth is expected to remain subdued in the first quarter as households face income shocks and the lingering impact of natural disasters, John Paolo R. Rivera, a senior research fellow at the Philippine Institute for Development Studies, said in a Viber message on Jan. 31.
+
Companies are also postponing investment until policy clarity and governance signals improve, he pointed out. “A meaningful recovery is more likely from mid-2026 onward, rather than immediately in the first quarter, as confidence and execution constraints take time to unwind.”
+
The economy grew 3% in the fourth quarter of 2025, bringing full-year gross domestic product (GDP) to 4.4%, well below the government’s 5.5%-6.5% target. This was the slowest in almost five years and, excluding pandemic effects, the weakest since 2009.
+
Economy Secretary Arsenio M. Balisacan attributed the slowdown to bad weather and a corruption scandal involving anomalous flood control projects, which dampened consumer and investor sentiment.
+
“A stronger pickup would be underpinned by faster public spending rollout, easing inflation and interest rates, a stable peso and improved investor sentiment that crowds in private capital,” Mr. Rivera said.
+
Household consumption may recover gradually, but a durable rebound depends on restored confidence and accelerated investment-led growth.
+
Citigroup, Inc. projected modest GDP growth in the first half, before gaining momentum in the second half. Its baseline forecast is 3.5-4% GDP growth in the first half, before gradually reaching around 5% by the fourth quarter, it said in a statement last week.
+
It expects full-year growth of 4.5%, slightly above last year’s 4.4% but below the government’s target.
+
Citi expects public investment to continue contracting in the first quarter, though slower than in the last quarter.
+
Government spending grew 3.7% last quarter and 9.1% for the year, partly due to front-loaded election-related disbursements. “Any subsequent recovery of public investment spending should be quickly followed by a turnaround of household consumption growth.”
+
Household consumption, the economy’s largest component at over 70%, rose 3.8% last quarter and 4.6% for the year. Citi also flagged potential policy easing, noting room for a 25-basis-point BSP rate cut in February, with a further cut in April possible if growth remains weak.
+
The University of Asia and the Pacific expects a rebound this quarter, supported by early disbursement of P1.6 trillion to local government units and low inflation. It projects 5% GDP growth for the first quarter and full year of 2026, matching the lower bound of the government’s target.
+
Analysts stressed that a sustained recovery hinges on governance reforms. Emmanuel J. Lopez, an associate professor at Colegio de San Juan de Letran, said political and geopolitical risks continue to impede the economy.
+
“More than short-term solutions, hard investments should be implemented, resulting in a long-term benefit,” he said via Viber.
+
Calixto V. Chikiamco, president of the Foundation for Economic Freedom, said recovery would depend on transparency and anti-corruption measures.
+
Without these, the economy will likely face a period of slow growth, he said, citing high interest rates, geopolitical tensions and political instability.
+
Business groups are cautiously optimistic. The Federation of Philippine Industries (FPI) expects investment to rebound as delayed infrastructure projects resume.
+
The “real lift” will come from faster public spending, clear policy signals and renewed investor confidence,” FPI Chairperson Elizabeth H. Lee said in a statement.
+]]>
+
+
+
+ https://www.bworldonline.com/wp-content/uploads/2025/10/Mural-corruption-300x200.jpg
+
+ Philippine infrastructure spending declines for fifth straight month in Nov.
+ https://www.bworldonline.com/top-stories/2026/02/02/727762/philippine-infrastructure-spending-declines-for-fifth-straight-month-in-nov/
+
+
+ Sun, 01 Feb 2026 16:32:07 +0000
+
+
+
+
+ https://www.bworldonline.com/?p=727762
+
+
+ PHILIPPINE GOVERNMENT spending on infrastructure fell for a fifth straight month in November, underscoring how a widening corruption investigation has weighed on public works implementation and fiscal momentum.
+
State disbursements for infrastructure and other capital outlays plunged 45.2% to P48 billion from a year earlier, according to data released by the Department of Budget and Management (DBM) on Jan. 31. Spending also declined 27.2% from October.
+
November marked the fifth straight annual contraction since July, when infrastructure spending dropped 25.3% after allegations of corruption linked to flood control projects surfaced. The scandal has since triggered investigations, leadership changes and tighter scrutiny of project approvals, slowing the pace of government outlays.
+
“The spending performance of the DPWH (Department of Public Works and Highways) continued to post negative growth amid the ongoing probe and crackdown on corruption issues,” the DBM said.
+
The fiscal slowdown curtailed project execution and prompted contractors to submit progress billings and payment claims immediately, the agency said, as authorities sought to strengthen controls and oversight.
+
The DPWH, which has been at the center of the controversy, has undergone a budget overhaul, the dismissal of several officials and a continuing investigation that weakened sentiment and slowed activity across the construction sector.
+
The fallout has also spilled over to the broader economy, weighing on household spending and private investment.
+
From January to November, total government infrastructure spending fell 16% to P991.1 billion from a year earlier. This accounted for 65.51% of the government’s P1.51-trillion full-year infrastructure program.
+
“Infrastructure spending was weighed down significantly by the contraction of DPWH’s disbursements during the period in the wake of flood control corruption issues,” the DBM said.
+
Broader infrastructure disbursements, which include capital components of subsidies and equity infusions to state-owned companies, as well as transfers to local government units, also weakened. These fell 13.3% year on year to P1.2 trillion in the first 11 months of the year.
+
Public Works Secretary Vivencio “Vince” B. Dizon said last month the agency was seeking to lift spending while ensuring public funds are deployed prudently.
+
The DPWH has set a spending program of P200 billion to P250 billion this quarter, signaling an effort to regain momentum after months of subdued disbursements.
+
Despite the drag from infrastructure, total government spending edged up 2.5% to P5.41 trillion in January to November, equivalent to about 89% of the P6.08-trillion full-year program.
+
For the final stretch of 2025, the DBM said overall spending would be supported by payments to cover personnel service shortfalls across line agencies, including the release of benefits and the creation or filling of government positions.
+
“Based on a preliminary report of allotment releases, some P74.3 billion worth of allotments were released in December 2025, which might have helped propel spending for the remainder of 2025,” the agency said.
+
Additional spending drivers include the rollout of social programs such as disaster relief and recovery, education subsidies and funding for local development initiatives, the DBM added.
+
WAIT-AND-SEE STANCE
+Economists said the corruption probe has been a major factor behind the persistent contraction in infrastructure outlays.
+
Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp., said the scandal has forced authorities to adopt a more cautious approach to public works spending.
+
“This was caused by the continued caution versus the risk of corruption for various government spending on infrastructure,” he said in a Viber message.
+
He added that the pullback in government spending has been a key contributor to the recent softness in economic growth, given the sector’s role as a major pillar of gross domestic product.
+
The slowdown has also weighed on investor sentiment, prompting a wait-and-see stance that curbed private investment, Mr. Ricafort said. Against this backdrop, he noted it would be difficult for the government to meet its P1.51-trillion infrastructure target for 2025.
+
“Yes, tough one, as manifested by the weaker-than-expected local GDP data,” he said.
+
Philippine economic growth slowed sharply to 4.4% last year from 5.7% in 2024, as the infrastructure pullback dampened public spending and eroded confidence among consumers and businesses.
+
The expansion was the weakest in five years, excluding the 9.5% contraction in 2020 at the height of the pandemic, and the slowest since 2011 if the pandemic period is set aside.
+
Still, Mr. Ricafort said a rebound in infrastructure spending is likely this year, supported by catch-up programs anchored on stronger governance and anti-corruption measures.
+
Acting Budget Secretary Roland U. Toledo said the government remains committed to scaling up infrastructure investment over the medium term, adding that risks of project delays this year are limited after what he described as a “clean” budget process.
+
For 2026, the Development Budget Coordination Committee (DBCC) has scaled back its infrastructure outlay target to 4.3% of GDP, or about P1.3 trillion, from an earlier goal of 5.1% of GDP, equivalent to P1.56 trillion.
+
The overall government disbursement program for next year was also trimmed by 3.19% to P4.824 trillion.
+
Finance Secretary Frederick D. Go said public spending is expected to rebound this year, noting that authorities have worked to clear bottlenecks in the spending program.
+
The top five spending agencies include the DPWH and the Education, Health, Agriculture and Transportation departments, he said. — Aubrey Rose A. Inosante
+]]>
+
+
+
+ https://www.bworldonline.com/wp-content/uploads/2025/11/Infra-road-construction-300x200.jpg
+
+ Hog raisers urge gov’t to increase pork tariffs
+ https://www.bworldonline.com/top-stories/2026/02/02/727761/hog-raisers-urge-govt-to-increase-pork-tariffs/
+
+
+ Sun, 01 Feb 2026 16:31:07 +0000
+
+
+
+ https://www.bworldonline.com/?p=727761
+
+
+ HOG RAISERS want the government to restore higher pork tariffs, warning that a surge in imports has oversupplied the market and dragged down farmgate prices.
+
Alfred Ng, vice-chairman of the National Federation of Hog Farmers, said the group is pushing to raise pork tariffs back to 40%, arguing that lower duties have outlived their purpose and are now hurting local producers.
+
Lower tariff rates were introduced in 2021 to stabilize pork prices after African swine fever disrupted domestic supply. Since then, tariffs have remained at 15% for in-quota imports and 25% for out-of-quota shipments.
+
“Tariffs are supposed to protect local farmers from unfair trade and the dumping of subsidized agricultural products,” Mr. Ng said in a Viber message. “The reductions were meant to be temporary, but they have remained in place even as import volumes surged.”
+
Pork imports rose about 16% last year, or roughly 120 million kilos, bringing total shipments to more than 850 million kilos. Mr. Ng said these volumes are unprecedented and have weighed heavily on local prices.
+
He said live hog prices began falling in June last year and failed to recover during the usual peak months of December and January, when demand typically lifts prices.
+
“For the first time in more than 30 years of hog farming, liveweight prices did not improve in December and continued to decline in January,” he said.
+
Data from the Philippine Statistics Authority showed that average liveweight hog prices in the fourth quarter fell 14% to P182.83 per kilo, from a year-high average of P212.54 per kilo in the first quarter.
+
In response to the sharp drop, the Department of Agriculture agreed in November to raise the floor price for live hogs to P210 per kilo after prices sank to as low as P150 per kilo, close to production cost.
+
Despite the weakness at the farm level, Mr. Ng said retail pork prices in wet markets remained elevated, even as the landed cost of imported pork fell to about P120 per kilo.
+
“This clearly shows that consumers are not benefiting from importation,” he said. “Instead, local farmers are bearing the cost, while importers are capturing the margins.
+
Mr. Ng also raised concerns over food safety, saying frozen imported pork has entered wet markets and been sold as thawed meat, competing directly with locally produced pork.
+
He said this practice violates agriculture regulations that prohibit the display and sale of thawed frozen meat without proper chilling equipment.
+
Continued overimportation could undermine the Department of Agriculture’s multibillion-peso hog repopulation program, Mr. Ng said, as low prices and the risk of African swine fever discourage farmers, especially small producers, from raising hogs.
+
Aside from restoring higher tariffs, hog raisers are calling for tighter controls on pork import volumes to cover only supply shortfalls, as well as stronger border inspections.
+
These measures would help keep unsafe and smuggled meat out of the market and protect both farmers and consumers, he added. — Vonn Andrei E. Villamiel
+]]>
+
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+ https://www.bworldonline.com/wp-content/uploads/2021/09/pig-farm-300x169.jpg
+
+ Meralco-First Gen gas supply contract extended until June
+ https://www.bworldonline.com/corporate/2026/02/02/727772/meralco-first-gen-gas-supply-contract-extended-until-june/
+
+
+ Sun, 01 Feb 2026 16:07:48 +0000
+
+
+
+ https://www.bworldonline.com/?p=727772
+
+
+ THE Energy Regulatory Commission (ERC) has granted a five-month extension of the gas power supply contract between Manila Electric Co. (Meralco) and First Gen Corp., citing its role in supporting energy security, particularly with the summer months approaching.
+
In an eight-page order promulgated on Jan. 30, the ERC approved the joint motion filed by Meralco and First Gen unit First Gas Power Corp. (FGPC) to continue sourcing power from the Sta. Rita gas-fired power plant in Batangas until June 25, 2026.
+
The approval of the second interim extension comes ahead of the Jan. 31 expiration of the previous temporary extension of the 25-year power purchase agreement.
+
The ERC said the renewed arrangement will be implemented under the same terms and conditions as the earlier extension and will remain a pass-through charge to Meralco customers.
+
In approving the extension, the ERC reiterated that spot market prices could increase by around twofold if the Sta. Rita plant were to operate as a merchant plant, citing simulations conducted by the Independent Electricity Market Operator of the Philippines.
+
FGPC said it would likely be constrained to shut down the power plant due to the loss of offtake. This could, in turn, compel the Malampaya gas field operations and the liquefied natural gas terminal to cease operations because of “technical interdependencies” among the facilities.
+
“This situation presents a critical energy security risk in the Luzon Grid with dire consequences extending beyond power rate increases to rotating power outages that would disrupt household, business, and industrial activities,” the ERC said.
+
The agency also noted the Sta. Rita plant’s contribution to energy security through the frequent operation of its available units at full capacity, helping increase supply and stabilize spot prices.
+
“The Commission is cognizant that the reliable and flexible capacity offered by the Sta. Rita Plant is much needed during the summer months,” the ERC said.
+
“It is thus imperative that the power grids maintain sufficient capacity available to avert yellow/red alerts, power interruptions, or worse, widespread outage.”
+
Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc.
+
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera
+]]>
+
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+ https://www.bworldonline.com/wp-content/uploads/2023/09/SANTA-RITA-PP-300x174.jpg
+
+ Tanduay eyes Central and Eastern Europe markets
+ https://www.bworldonline.com/corporate/2026/02/02/727771/tanduay-eyes-central-and-eastern-europe-markets/
+
+
+ Sun, 01 Feb 2026 16:06:47 +0000
+
+
+
+ https://www.bworldonline.com/?p=727771
+
+
+ TANDUAY is expanding its footprint beyond Western Europe by targeting markets in Slovenia, Slovakia, and Hungary as part of its push into central and eastern regions.
+
Following its debut in Denmark last year, the company said that it is in talks to enter these countries.
+
“Right now, we’re in the western part of Europe, but we’re also trying to penetrate Central and Eastern Europe,” Tanduay International Business Development Manager Roy Kristoffer Sumang told reporters on the sidelines of an event last week.
+
In December, Tanduay Distillers, Inc. announced a distribution partnership with Denmark’s Bastard Spirits to enter the Nordic market and expand its premium rum portfolio.
+
The deal targets wine shops, online retailers, bars, and potential future duty-free listings, capitalizing on Denmark’s openness to new flavors.
+
Last month, the company signed a distribution agreement with Spain’s Torres to bring its brandy to supermarkets nationwide, starting with Torres 5 Light, with additional products arriving in the first quarter as part of the latter’s Philippine market debut.
+
Tanduay is a rum brand produced by Tanduay Distillers, Inc., a subsidiary of the Tan-led conglomerate LT Group, Inc. — Alexandria Grace C. Magno
+]]>
+
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+ https://www.bworldonline.com/wp-content/uploads/2025/12/Tanduay-300x201.jpg
+
+ DMCI to break ground on Kalayaan, BGC subway stations this year
+ https://www.bworldonline.com/corporate/2026/02/02/727770/dmci-to-break-ground-on-kalayaan-bgc-subway-stations-this-year/
+
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+ Sun, 01 Feb 2026 16:05:47 +0000
+
+
+
+ https://www.bworldonline.com/?p=727770
+
+
+ D.M. CONSUNJI, INC. (DMCI) is preparing to break ground on a key portion of the Metro Manila subway project this year, its top executive said.
+
The project, known as contract package 105 (CP 105), covers the Kalayaan and Bonifacio Global City (BGC) stations, with construction expected to start this year, DMCI President and Chief Executive Officer Jorge A. Consunji told reporters last week.
+
The project includes a short tunnel and the two stations, which were originally scheduled for completion in 2029 but have faced delays because of earlier right-of-way issues.
+
DMCI is undertaking the work alongside Japanese firm Nishimatsu Construction Co. Ltd., its partner for another section of the subway covering Quezon Avenue and East Avenue stations.
+
Meanwhile, the company is pursuing another subway project and expects the award decision as early as next month.
+
“That’s just the award phase. The groundbreaking for that is possibly in March or April, depending on the department that handles it — we can’t control that. But it was bid out 18 months ago,” Mr. Consunji said.
+
Without giving details, DMCI said it is eyeing other major projects and possible partnerships with both public and private sectors.
+
DMCI is the construction arm of listed infrastructure and engineering conglomerate DMCI Holdings, Inc., which also has core investments in coal mining, water, off-grid power generation, and property development. — Alexandria Grace C. Magno
+]]>
+
+
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+ https://www.bworldonline.com/wp-content/uploads/2023/09/BGC-buildings-skyline-300x200.jpg
+
+ Arthaland forges partnership with Mitsui Fudosan (Asia) for a premium green development in Makati
+ https://www.bworldonline.com/spotlight/2026/02/02/727612/arthaland-forges-partnership-with-mitsui-fudosan-asia-for-a-premium-green-development-in-makati/
+
+
+ Sun, 01 Feb 2026 16:05:40 +0000
-
-
- https://www.bworldonline.com/?p=726103
+
+
+
+ https://www.bworldonline.com/?p=727612
-
- Grace had always been that friend — the one whose vanity cabinet looked like a miniature skincare lab. Toners from Japan, serums from Korea, creams from the US — each promising radiant, youthful skin. But one day, standing in front of her mirror, she realized that despite all her knowledge and devotion, something had gone missing — clarity.
-
Between countless “miracle” facials that promised similar results and the steep price tags attached to good skin, things stopped making sense. Treatments were too painful, too time-consuming, and too expensive to feel sustainable. Grace wasn’t alone. Her friends, fellow skincare lovers juggling work, family, and everything in between, were feeling it too.
-
So, she started asking one simple question — what if good skin didn’t have to be complicated?
-Skin Republic Three Central Mall branch in Makati
-
The Birth of a Republic
-
With that question, Skin Republic was born — not as a place, but as a belief. Great Skin made simple — accessible to everyone through bright, firm, hydrated skin. A place where great skin could be simple, smart, and accessible. Grace and her team envisioned a world where everyone could have skin that’s bright, firm, and hydrated — the three building blocks of truly great skin.
-
After endless testing, curating, and perfecting, they built three signature treatments that embodied these qualities:
-
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Brightening Laser Facial for clarity and glow
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V-Lift Firming Facial for lift and youthful bounce
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Hydrating Aqua Facial for supple, glass-skin smoothness
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+
+ Arthaland Corporation (ARTHALAND) and Mitsui Fudosan (Asia) recently entered into a joint venture for the development of Sondris, a premium, multi-certified sustainable residential condominium that will rise along Arnaiz Avenue, Legazpi Village, Makati City.
+
This partnership marks a significant collaboration between Arthaland and Mitsui Fudosan (Asia), a wholly owned subsidiary of Mitsui Fudosan Co., Ltd., one of Japan’s largest real estate companies and a publicly traded company with approximately $62 billion (¥9.8 trillion, as of Dec. 2024) in assets. Mitsui Fudosan has pursued mixed-use neighborhood creation that integrates office buildings, retail facilities, logistics, hotels/resorts, and residentials across various areas in Japan. Mitsui Fudosan’s area of operations is not only in Japan; the Group has been conducting business in major cities in North America, Europe, China, Taiwan, Southeast Asia, Australia, and India. The Group is continuously pursuing business expansion through driving the evolution of neighborhood creation.
+
“We are honored to collaborate with Mitsui Fudosan to bring Sondris to life. By combining ARTHALAND’s deep local experience with a global perspective and Mitsui Fudosan’s distinct strength in truly people-focused neighborhood creation and global expertise, we created a development that delivers durability, functionality, and a new benchmark for refined living in the heart of Makati,” said Jaime C. González, Vice Chairman and President of ARTHALAND.
+
Sondris brings together two like-minded, best-in-class real estate companies with shared values centered on sustainability, green building, and long-term value creation. ARTHALAND leads the project’s development and operations, while Mitsui Fudosan contributes to global expertise in design, engineering, and value preservation.
+
“We express our appreciation and honor in collaborating and developing this project together with Arthaland, a partnership that reflects our shared vision for excellence and sustainability. Guided by this commitment, we take pride in making Sondris one of the pioneering residential developments in the Philippines to pursue multiple prestigious green certifications—underscoring our unwavering commitment to sustainability and future-ready communities. Together, we aspire to deliver a landmark project that harmonizes world-class standards with local insight, creating a destination designed to endure and inspire for generations to come.” said Daijiro Eguchi, Managing Director of Mitsui Fudosan (Asia).
+
Sondris offers a rare balance of cultural richness, business connectivity, and urban convenience. Its address along Arnaiz Avenue provides immediate access to EDSA and the Skyway, connecting residents to the metro’s key business and lifestyle destinations. Its location also allows its residents to enjoy unobstructed views of the San Lorenzo Village.
+
Inspired by Japanese sensibilities, Sondris brings together refined architecture, wellness, and environmental stewardship to create homes shaped by intention and balance. Designed by the internationally renowned architectural firm AEDAS, the 37-story tower features 252 thoughtfully designed residences, each crafted to maximize natural light, ventilation, and comfort.
+
As with other ARTHALAND developments, Sondris targets to achieve the highest sustainability and wellness standards from both local and global organizations. It aims to become multi-certified, targeting LEED, WELL, EDGE, and BERDE certifications from the US Green Building Council, International Well Building Institute, the International Finance Corporation and the Philippine Green Building Council, respectively.
+
ARTHALAND is the only real estate developer in the Philippines with a residential and commercial portfolio 100% certified as sustainable by local and global organizations. It has made its mark in the Philippine real estate industry by pioneering the development and management of exceptional best in-class properties that adhere to international and local standards.
Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.
+
Join us on Viber at https://bit.ly/3hv6bLA to get more updates and subscribe to BusinessWorld’s titles and get exclusive content through www.bworld-x.com.
+]]>
+
+
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+ https://www.bworldonline.com/wp-content/uploads/2026/01/advert_ALCO-MFA-New-final-photo-OL-300x220.jpg
+
+ T-bill, bond rates may drop on BSP easing hopes
+ https://www.bworldonline.com/banking-finance/2026/02/02/727700/t-bill-bond-rates-may-drop-on-bsp-easing-hopes/
+
+
+ Sun, 01 Feb 2026 16:05:04 +0000
+
+
+
+ https://www.bworldonline.com/?p=727700
+
+
+ RATES of the Treasury bills (T-bills) and Treasury bonds (T-bonds) on offer this week could decline as weak gross domestic product (GDP) data increased expectations of further policy easing by the central bank.
+
The Bureau of the Treasury (BTr) will auction off P27 billion in T-bills on Monday, or P9 billion each in 91-, 182-, and 364-day papers.
+
On Tuesday, the government will offer P30 billion in reissued seven-year T-bonds with a remaining life of four years and 11 months.
+
T-bill and bond rates could mirror the week-on-week drop in comparable secondary market yields as weaker-than-expected fourth-quarter and full-year 2025 GDP growth heightened the odds of a sixth straight cut from the Bangko Sentral ng Pilipinas (BSP) this month, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.
+
“Expect bullish momentum to translate into [this] week as players price in a poor (economic) outlook,” a trader said in an e-mail.
+
At the secondary market on Friday, yields on the 91-, 182-, and 364-day T-bills went down by 8.38 basis points (bps), 6.34 bps, and 5 bps week on week to 4.6826%, 4.7725%, and 4.8412%, respectively, based on PHP Bloomberg Valuation Service Reference Rates data as of Jan. 30 published on the Philippine Dealing System’s website.
+
Meanwhile, the seven-year bond’s yield eased by 8.19 bps week on week to close at 5.8549%, while the five-year debt, the tenor closest to the T-bond’s remaining life, fell by 11.05 bps to fetch 5.6551%.
+
Philippine GDP growth slowed to 3% in the fourth quarter of 2025 from 5.3% in the same period a year prior and 3.9% in the third quarter. This brought the full-year average to 4.4%, well below the government’s 5.5%-6.5% goal.
+
Analysts said that the weak GDP report could prompt the BSP to cut rates further to boost domestic demand. The Monetary Board will hold its first policy meeting for this year on Feb. 19.
+
Last week, the government raised P37.8 billion via the T-bills, higher than the P27-billion plan as the offer was oversubscribed, with total tenders reaching P155.975 billion.
+
Broken down, the government awarded P12.6 billion in 91-day T-bills, above the P9-billion program, as demand reached P40.1 billion. The three-month paper fetched an average rate of 4.666%, down by 5.7 bps from the previous week. Yields accepted ranged from 4.64% to 4.673%.
+
The Treasury also borrowed P12.6 billion via the 182-day debt as tenders hit P57.55 billion. The average rate of the six-month T-bill was at 4.751%, easing by 6.6 bps. Tenders awarded carried yields from 4.73% to 4.763%.
+
Lastly, the BTr raised P12.6 billion from the 364-day securities as bids totaled P58.325 billion. The one-year paper’s average yield was at 4.827%, falling by 6.1 bps. Accepted rates were from 4.81% to 4.843%.
+
Meanwhile, the reissued seven-year T-bonds to be offered on Tuesday were last sold on Jan. 13, where the government borrowed P40 billion versus the P30-billion plan as it opened its tap facility. The reissued bonds fetched an average rate of 5.71%, below the 6.125% coupon rate.
+
The government aims to raise P308 billion from the domestic market this month, or P108 billion via T-bills and up to P200 billion through T-bonds.
+
The government borrows from local and foreign sources to help fund its budget deficit, which is capped at P1.647 trillion or 5.3% of gross domestic product this year. — A.M.C. Sy
+]]>
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+ https://www.bworldonline.com/wp-content/uploads/2023/05/BTr-Treasury-300x200.jpg
+
+ BPI shares rise on PSEi rebalancing, performance outlook
+ https://www.bworldonline.com/corporate/2026/02/02/727769/bpi-shares-rise-on-psei-rebalancing-performance-outlook/
+
+
+ Sun, 01 Feb 2026 16:04:46 +0000
+
+
+
+ https://www.bworldonline.com/?p=727769
+
+
+ By Isa Jane D. Acabal, Researcher
+
BANK OF THE PHILIPPINE ISLANDS (BPI) shares climbed last week on Philippine Stock Exchange index (PSEi) rebalancing and on improved investor sentiment following the bank’s announcement of its performance targets for this year, analysts said.
+
BPI was the fifth most actively traded stock from Jan. 26 to 30, with 14.09 million shares worth P1.65 billion, according to PSE data.
+
The stock closed at P124 per share on Friday, up 6.9% from P116 the previous week. This outpaced the financial sector’s 1.8% week-on-week gain and the 0.1% decline in the benchmark PSEi.
+
Year to date, BPI shares have risen 6.8%, ahead of the financial sector’s 5% growth and the PSEi’s 4.6% increase.
+
Franco M. Fernandez, equity research analyst at DragonFi Securities, Inc., said the stock’s gain was largely driven by “rebalancing-related flows” toward the end of the week.
+
On Jan. 27, the PSE announced changes to its indices, with RL Commercial REIT, Inc. (RCR) set to replace Alliance Global Group, Inc. (AGI) in the PSEi starting Feb. 2.
+
AGI will move to the PSE MidCap index, while Apex Mining Co., Inc. will be added and DoubleDragon Corp. removed. Meanwhile, Universal Robina Corp. will return to the PSE Dividend Yield index, which will also include OceanaGold (Philippines), Inc. as a new constituent.
+
“I expect prices to normalize next week, as sharp gap-ups during the run-off period, particularly those linked to PSEi rebalancing, have historically been followed by profit taking in the next session,” Mr. Fernandez said in a Viber message.
+
Unicapital Securities, Inc. Research Head Wendy B. Estacio-Cruz attributed the rise in BPI shares to positive investor sentiment as the market priced in the bank’s strong performance targets.
+
“This price movement is partly ahead of the release of its [full-year 2025] earnings, as investors anticipate strong performance driven by a rebound in borrowing demand,” she said in an e-mailed response to questions.
+
“Market sentiment may also have been supported by broader optimism in the banking sector amid easing inflation,” she added.
+
In an earlier interview with reporters, BPI President and Chief Executive Officer Jose Teodoro K. Limcaoco said the bank aims to exceed its 2025 performance this year, citing a rebound in demand for consumer loans.
+
BPI also started the public offer for its P5-billion Supporting Individuals Grow, Lead, and Achieve (SIGLA) Bonds, priced at 5.405% per annum, on Jan. 26.
+
In a disclosure to the stock exchange, the bank said this marked the second tranche of its P200-billion Bond and Commercial Paper Program, which will run until Feb. 4.
+
“BPI’s strategic shift toward higher-yielding segments is expected to boost profitability and help cushion any increase in provisioning, further reinforcing investor confidence,” Ms. Estacio-Cruz said.
+
In the third quarter of 2025, BPI’s attributable net income rose 0.6% to P17.53 billion, bringing its nine-month profit to P50.48 billion.
+
Ms. Estacio-Cruz projects fourth-quarter net profit at P16.9 billion and full-year earnings at P67.4 billion.
+
Mr. Fernandez forecasts BPI’s attributable net profit at P15 billion for the fourth quarter and P66 billion for full-year 2025. He placed support between P112 and P115 per share, with resistance at P125.
+]]>
+
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+ https://www.bworldonline.com/wp-content/uploads/2025/03/BPI-Davao-Azuela-Cove-300x169.jpg
+
+ Peso may be range-bound as market awaits inflation report
+ https://www.bworldonline.com/banking-finance/2026/02/02/727699/peso-may-be-range-bound-as-market-awaits-inflation-report/
+
+
+ Sun, 01 Feb 2026 16:04:04 +0000
+
+
+
+
+
+ https://www.bworldonline.com/?p=727699
+
+
+ THE PESO may be range-bound against the dollar this week as players await the release of Philippine inflation data and assess the possible policy implications of the nomination of a new US Federal Reserve chair.
+
On Friday, the local unit closed at P58.86 per dollar, rising by 8.5 centavos from its P58.945 finish on Thursday, data from the Bankers Association of the Philippines showed.
+
Week on week, the peso jumped by 23 centavos from its P59.09 close on Jan. 23.
+
“The dollar-peso closed lower but traded mostly sideways, touching the P59 high amid selling on peso weakness due to lower-than-expected GDP (gross domestic product) figures,” a trader said in a phone interview, adding that there was profit taking in the afternoon session.
+
Philippine GDP growth slowed to 3% in the fourth quarter of 2025, bringing the full-year average to 4.4%, missing government’s 5.5%-6.5% goal.
+
The soft growth data raise the odds of a rate cut by the Bangko Sentral ng Pilipinas (BSP) at the Monetary Board’s Feb. 19 meeting, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.
+
The Monetary Board has reduced benchmark rates by a cumulative 200 basis points since its easing cycle began in August 2024, bringing the policy rate to an over three-year low of 4.5%.
+
For this week, the trader said the peso will move sideways as players await the release of January Philippine inflation data on Thursday (Feb. 5) and developments following US President Donald J. Trump’s announcement of his Fed chair pick.
+
The market will also monitor US economic data, the trader added.
+
The trader sees the peso moving between P58.80 and P59.10 per dollar this week, while Mr Ricafort said it may range from P58.65 to P59.15.
+
The choice of Kevin Warsh to lead the US Federal Reserve clears uncertainty on Wall Street about the central bank’s likely next chair, but leaves investors weighing how the former Fed governor’s past hawkish leanings will mesh with Mr. Trump’s insistence on far lower interest rates, Reuters reported.
+
Mr. Warsh, whom Mr. Trump nominated on Friday to lead the US central bank, ending a months-long process, had been one of four candidates widely tipped as potential successors to Jerome H. Powell, whose term as chair ends in May. A proponent of tighter monetary policy as a Fed governor from 2006 to 2011, Mr. Warsh said recently that Mr. Trump is right to press for interest rate cuts. — A.M.C. Sy with Reuters
+]]>
+
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+ https://www.bworldonline.com/wp-content/uploads/2024/07/Peso-currency-300x200.jpg
+
+ PHL banana exports estimated to have grown 26% in 2025
+ https://www.bworldonline.com/agribusiness/2026/02/02/727709/phl-banana-exports-estimated-to-have-grown-26-in-2025/
+
+
+ Sun, 01 Feb 2026 16:04:02 +0000
+
+
+
+ https://www.bworldonline.com/?p=727709
+
+
+ PHILIPPINE BANANA exports likely surged by more than a quarter in 2025, helping make the country the world’s number two exporter, according to the Food and Agriculture Organization (FAO).
+
In a market review, the FAO said that preliminary data indicate that exports of Philippine bananas likely grew 25.6% to 2.93 million metric tons (MMT) in 2025.
+
Ecuador likely remained the world’s biggest banana exporter in 2025, with shipments projected at 6.41 MMT. Costa Rica, which was the second-largest banana exporter last year, likely slipped to fifth place, with shipments projected to decline 17% to 1.96 MMT.
+
According to the FAO, the rebound in Philippine exports was the result of favorable weather as well as a recovery from setbacks caused by disease in recent years.
+
In 2024, banana exports amounted to 2.33 MMT, slipping from 2.35 MMT a year earlier after infestations of Fusarium wilt, a soil-borne fungal disease that blocks a banana plant’s vascular system and deprives it of nutrients and moisture.
+
The FAO said the Philippines, the biggest banana exporter in Asia, also benefited from renewed investments in production.
+
“Industry sources reported that substantial investments had been made in boosting the production of bananas in Cagayan Valley, including through the provision of organic fertilizer and other inputs by the Department of Agriculture (DA),” the FAO said.
+
The FAO also reported stronger demand from major Asian markets in 2025, helping support the Philippine export rebound.
+
Banana imports by China, one of the world’s largest buyers, were estimated to have increased 17.02% to 2.04 MMT in 2025, with shipments from the Philippines expanding in the double digits during the first nine months.
+
Imports by Japan likely rose, with shipments projected to have grown 1.44% to 1.06 MMT in 2025. The Philippines accounts for around 75% to 80% of Japan’s total banana imports.
+
Agriculture Secretary Francisco P. Tiu Laurel, Jr. said he recently met with his Japanese counterpart to negotiate lower tariffs on Philippine bananas shipped to Japan.
+
He said the DA is seeking amendments to the Japan-Philippines Economic Partnership Agreement (JPEPA), under which Japan imposes seasonal tariffs on Philippine bananas.
+
Under JPEPA, bananas shipped from the Philippines face an 8% tariff between October and March and a duty of 18% between April and September. Mr. Laurel said the government is pushing to lower the duties to a fixed rate of between 5% and 8%.
+
“We requested a lower, flat rate to help our banana sector. This is because other countries like Vietnam, Thailand, and Mexico are already moving toward zero tariffs,” Mr. Laurel told reporters at a briefing.
+
He said the tariff negotiations are meant to serve as a temporary measure to keep Philippine bananas competitive, while the country works toward securing zero duties through its application for accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
+
The CPTPP is a free trade agreement among Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the UK, and Vietnam. It provides for more liberalized trade, including zero tariffs on a wide range of goods. — Vonn Andrei E. Villamiel
TO BUY — and learn about — authentic indigenous Filipino weaves, Metro Manila residents can visit the regular DTI fairs held in SM Megamall. — ALICIA A. HERRERA
Each treatment used the most effective technology and techniques — gentle yet powerful, precise yet indulgent — because skincare shouldn’t hurt or break the bank to work.
-
In November 2024, Skin Republic opened its first home at Three Central Mall in Makati. Within months, a second came to life in Ortigas Center. The dream was growing — proof that simplicity, when done right, resonates deeply.
-
Great Skin for All
-
From the start, Skin Republic’s mission was clear: Great Skin for All.
-
That meant rethinking everything that made skincare feel exclusive. Great Skin for All because Great Skin made simple means treatments had to be:
-
-
Accessible for your pocket — premium care without the luxury markup
-
Accessible for your time — quick, with zero downtime
-
Accessible for your comfort — painless yet effective
-
-
Because self-care shouldn’t feel like a chore. It should fit effortlessly into real life.
-
The Next Evolution in Care
-Slim & Tight Body Treatment
-
As clients discovered and loved their results, one new sentiment began to surface. They wanted more — not just in results, but in rituals. People craved something soothing, sustainable, and natural — treatments they could enjoy regularly, not only to enhance their skin, but also to unwind, reset, and rebalance from the stress of daily life.
-
That inspiration led to the creation of the Advance Naturals Series — a new chapter in Skin Republic’s story, blending nature’s best actives with modern skincare technology. From tea tree for defense, lavender for calm, charcoal for detox, and rose for radiance, to caviar for renewal — each treatment offers a moment to pause, refresh, and reconnect.
-
True to its roots, Skin Republic also honors its Korean heritage through the Luxe Korean Series, featuring the Sulwhasoo Holistic Facial rooted in ancient ginseng rituals and the Rejuran Regenerative Facial powered by PDRN for deep renewal.
-
And because the vision of great skin goes beyond the face, the Slim & Tight Body Treatment was developed — a comfortable, time-efficient way to melt fat, tighten skin, and smooth the body, extending the same Skin Republic promise from head to toe.
-
Skin Republic Today
-
Today, Skin Republic stands for more than skincare. It stands for confidence, accessibility, and genuine well-being — a belief that good skin should be simple, affordable, and restorative.
-
Because great skin isn’t just about appearance. It’s about feeling good, inside and out. And when that happens — beauty becomes effortless.
-
-
-
Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.
-
Join us on Viber at https://bit.ly/3hv6bLA to get more updates and subscribe to BusinessWorld’s titles and get exclusive content through www.bworld-x.com.
-]]>
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- https://www.bworldonline.com/wp-content/uploads/2026/01/2-OL-1-240x300.jpg
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- PHL women’s healthcare five years behind other SEA countries – expert
- https://www.bworldonline.com/health/2026/01/23/726115/phl-womens-healthcare-five-years-behind-other-sea-countries-expert/
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- Fri, 23 Jan 2026 08:38:43 +0000
-
-
- https://www.bworldonline.com/?p=726115
-
-
- An expert said on Thursday that women’s healthcare in the Philippines lags five years behind other Southeast Asian countries, raising concerns about accessibility and awareness.
-
“The healthcare industry here, particularly women’s health, has so much potential to be filled and to be so much opportunity for growth and also for development,” Carol Joanna Violago-Olivarez, founder and chief executive officer of Eluvo Health, told BusinessWorld in an interview.
-
“We’re already five years behind our Southeast Asian neighbors and global institutions. It’s just a matter of bringing in what’s there already and putting it here,” she added.
-
Data from the Hologic Global Women’s Health Index Year 4 Global Report revealed that the Philippines ranked 109th out of 141 countries, scoring 45 points. This is a 3-point decline on the year-over-year score index.
-
In the East and Southeast Asian region, Taiwan ranked the highest globally with 68 points, followed by Singapore with 64 points. Japan and Vietnam trailed behind with 62 points.
-
The global index aims to measure women’s health through five categories, including preventive care, emotional health, opinions of health and safety, basic needs, and individual health.
-
The Philippines scored 16 points in preventive care, 57 points in emotional health, 75 points in opinions of health and safety, 30 points in basic needs, and 71 points in individual health.
-
“I would say that our experience in training, when it comes to our exposure in public hospitals and private hospitals… I feel that the level of our expertise is very much at par with international,” Ms. Olivarez said.
-
“There’s so much potential for us because we have the best compassionate healthcare providers in the world,” she added.
-
The awareness and accessibility in women’s health are linked to the country’s culture as a conservative nation, with over 80% of the population identifying as Catholic.
-
“It goes back to the idea that women came from that perception that you only need to get checked when you’re pregnant. In fact, it shouldn’t be even reactive,” she said. “We should be getting ourselves checked because that’s how we empower ourselves.”
-
“I have to say, this is even something that we don’t fully touch up on during our training. The community awareness, training, and also culture,” she added.
-
Eluvo Health
-Eluvo Health clinic, launched on Thursday, aims to address the gaps in women’s health and how Filipinas receive their wellness needs.
-
“Eluvo is for the modern women who want to be the best that they can be and who takes control of their health,” Ms. Olivarez said.
-
“Even from the design…we want it to be something that women are proud to go to. Like, you’re not embarrassed to go,” she added. “It’s like, I’m going here because I’m this level of wealth, this is me taking control of my health.”
-
The clinic offers services including fertility, maternal health, family planning, sexual health, and hormone health, among others, ranging from P3,000 to P90,000.
-
In Q2 of 2026, Eluvo will open its second branch in Quezon City and a third branch in Makati by Q3 to Q4.— Almira Louise S. Martinez
+
Or is that Filipiniana blouse or skirt you are eyeing actually from China?
+
WHILE it’s cool right now to sport local textiles, it’s becoming a little bit too cool — by that we mean fakes are being made of handwoven textiles by indigenous people.
+
During a press conference on Jan. 27 as part of the 2026 National Textile Convention (TELACon), Julius Leaño, Jr., director of DoST-PTRI (Department of Science and Technology – Philippine Textile Research Institute), discussed the Weavers’ Manifesto.
+
TELACon was organized by the DoST-PTRI at the Philippine International Convention Center, Pasay City, and ran from Jan. 27 to 29.
+
The manifesto was released in December last year during the Philippine Handloom Weaving Festival in Ilocos Norte. One of the points raised in the manifesto was the “opposition to the widespread use of counterfeit handwoven textiles and machine-made woven replicas as substitutes for the authentic handwoven fabrics of the Philippines.”
+
During the press conference, Mr. Leaño made clear that the PTRI’s job was to put together these sentiments, although the sentiments come from the weavers themselves, collected through a focus group discussion.
+
“Ang number one na layunin noon ay talaga para ma-ipahayag na tumututol sila doon sa paggamit ng replica at iyong mga counterfeit (Its number one goal is to announce that they are against the use of replicas and counterfeits),” he said during the press conference.
+
According to him, the fakes come from China. They are of foreign make, and are machine-made, while claiming to be handwoven by indigenous people. He said that the fakes began to proliferate during the pandemic, beginning with prints claiming to be of Cordillera origin.
+
Maria Raquel Bullayao, a weaver from Lubuagan, Kalinga said, “Parangnadudurog ang mga puso namin (it’s like our hearts are being crushed),” she said about seeing fakes passed off as their work. “It is our labor of love… ilang araw mo siya gagawin (you would have been working on it for days). Tapos makikita po namin dito (Then we’ll see it here), mostly here also in NCR na may mga nagbebenta ng peke na Filipiniana na nabibili po sa Divisoria (that they’re selling fake Filipiniana that you can buy in Divisoria).”
+
Meanwhile, Mervin To-Ong, a weaver from the Binugao Bagobo-Tagabawa Women Association from Davao said, “Buhay namin ito eh (this is our life).”
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“Nakakahiya sa atin na gumamit tayo ng mga replica at mga pekeng hinabi (it is shameful for us to use replica and fake woven products),” he said.
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Mr. Leaño said that as of now, the Intellectual Property Code of the Philippines isn’t sufficient to protect the intellectual property rights of the weavers. They are currently working with several agencies to fix the problem, as well as relying on a bill by Senator Loren Legarda regarding cultural protection, which has yet to be passed into law.
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Legally speaking, there are no prohibitions against these machine-made textiles: “Okay lang naman kung binenta yan na sinasabi na (it’s okay to sell it if it says) ‘this is machine-woven.’ Wala namang problema doon (there’s no problem there). Pero huwag mo lang sabihin na ito ay (but just don’t say that it is) Kalinga weave, when in fact, it is not,” said Mr. Leaño.
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As for DoST Secretary Renato U. Solidum, Jr., he said, “It is also important to do a lot of educational awareness for the buyer. Bilang buyer, hindi mo naman malalaman kung totoo o hindi (as a buyer, you wouldn’t know what’s real or not).”
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For now, PTRI measures to combat fake textiles include education campaigns, but also the development of a covert marking. In normal light, textiles using the marking will appear the same color, but the mark will glow under blue light. They are also rolling out handwoven marks to be distributed only to their partner weavers. “There are ways,” said Mr. Leaño. “We just have to put them together.”
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The onus is still on the buyer to buy the real thing. And where can we go to guarantee that what we’re getting is a true-blue handwoven product?
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“Ideally, go directly to the communities,” he said.
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And one can also visit the regularly scheduled Department of Trade and Industry (DTI) fairs which bring the makers and their products to Metro Manila. Not only will you be assured that what you buy is the real McCoy, but by talking to the weavers and getting a close up look at authentic weaves you learn to identify in the future if what you are offered comes from real hand weavers or should come with a warning: Made in China. — Joseph L. Garcia
Unedited photo taken with the REDMI Note 15 Pro 5G—BETTINA V. ROC
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Changing of the guard: Outgoing Chamber of Automotive Manufacturers of the Philippines President Atty. Rommel Gutierrez (left) with incoming President Jose Maria “Jing” Atienza — PHOTO BY KAP MACEDA AGUILA
Unedited photo taken with the REDMI Note 15 Pro 5G—BETTINA V. ROC
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DoTr Director for Transportation Security Carlo Bala (second from left), DoTr Usec. for Road Transport and Non Infrastructure Ramon Reyes (fifth from left) and Land Transportation Office (LTO) Asec. Markus Lakanilao (sixth from right) join the group for a photo. — PHOTO BY KAP MACEDA AGUILA
Unedited photo taken with the REDMI Note 15 Pro 5G—BETTINA V. ROC
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CAMPI board of trustees and officers pose with Department of Transportation (DoTr) Undersecretary Mark Steven Pastor (sixth from left). From left are BOT members Levy Santos, Masao Tsutsumi, and Rie Miyake; vice-president Atty. Rhys Alexei Murillo; former president Atty. Rommel Gutierrez; Usec. Pastor, president Jose Maria “Jing” Atienza; BOT member Masando Hashimoto; assistant treasure Atty. Louie Soriano; corporate secretary Robert Carlos, executive committee member Mario Regis, and treasurer Victor Vinarao. — PHOTO BY KAP MACEDA AGUILA
CAMPI officers, board of trustees, executive committee, and executives of CAMPI member companies pose with guest of honor Usec. Pastor. — PHOTO BY KAP MACEDA AGUILA
Unedited photo taken with the REDMI Note 15 Pro 5G—BETTINA V. ROC
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Members of the CAMPI Public Relations Committee pose with Mr. Atienza. From left are Mixie Flavier (TMP), Nelda Castro (Mitsubishi Motors Philippines Corporation), Mr. Atienza, Elvin Luciano (TMP), Jade Sison-Mendoza (TMP), and EJ Francisco (Ford Philippines). — PHOTO BY KAP MACEDA AGUILA
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XIAOMI Corp. last week launched in the Philippines its latest mid-range smartphones, the REDMI Note 15 Series, consisting of five devices with Pro and base models and both 4G and 5G versions, offering a variety of choices to fit different budgets and needs.
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The brand lent BusinessWorld a unit of one of the three Pro models of the series, the REDMI Note 15 Pro 5G (8GB+256GB), for this review. The device’s suggested retail price starts at P19,999. Discounts and freebies for customers are available until Feb. 8.
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Besides the phone and the usual documentation, included in the box are a 45-watt (W) two-round-pin charging adapter, a USB-A to USB-C cable, and a protective case for the device.
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Using the provided charger and cable, it took a little over an hour to get the REDMI Note 15 Pro 5G’s 6,580mAh silicon-carbon battery 100% from 20%.
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The battery is one of the standout features of this phone for me. For a three-day media trip with Xiaomi to Cebu for the launch of the REDMI Note 15 Series, I only needed to recharge the phone once — and that was with heavy use of its cameras during a city tour and also for typical social media browsing. With typical use, I’d say you can get one to two days out of a full charge.
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A bonus: the REDMI Note 15 Pro 5G also supports up to 22.5W wired reverse charging via USB-C. Xiaomi also says this battery is designed with technology that can make its life last up to six years.
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Another feature that shines is the screen. The REDMI Note 15 Pro 5G has a 6.83-inch 1.5K CrystalRes AMOLED display that has a refresh rate of up to 120Hz, which supports a peak brightness of up to 3,200 nits. This made the phone very easy to use during the daytime, especially under direct sunlight — no need to shield the screen just to see what’s on it. Visuals are also clear and crisp, and color reproduction is vivid. The screen is also very responsive, and its flat design is a plus for me.
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When watching videos or listening to music, the REDMI Note 15 Pro 5G’s dual speakers, which have Dolby Atmos support, have great audio quality, making for an immersive experience. Even when using 400% volume boost, there is only minimal distortion.
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The phone’s overall design and form factor also makes for a good user experience. The flat side edges with rounded corners make it easy to grip for prolonged periods of time, even for a relatively large phone, as the device is thin and light. It also looks and feels premium.
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Powered by a MediaTek Dimensity 7400-Ultra chipset, the phone delivers a smooth performance for typical use cases like social media browsing, watching videos, and even light gaming, making it a great mid-range daily driver.
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Software-wise, the phone runs on HyperOS 2.0 and has a simple and clean interface, and it also offers several AI features, including image editing tools. It does come with some preloaded apps and bloatware, but all of these are easy to uninstall if you find them unnecessary.
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The REDMI Note 15 Pro 5G features a dual-camera setup at the rear with a new 200-megapixel (MP) ultimate-clarity main sensor with optical image stabilization and an 8MP ultra-wide lens. Even without a telephoto lens, the phone captures sharp images with great details and colors. It performs very well when used outdoors in the daytime. During the night or indoor conditions with challenging lighting, as well as when using Ultra HD mode, image processing can get a tad slower than usual.
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There are also several shooting modes that can cater to both casual and more advanced users. I especially liked tinkering with Pro Mode (which allows you to use or save parameter presets), especially for night shots.
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Now for another of the REDMI Note 15 Series’ main selling points — its Titan Durability — the phone has IP66/IP68/IP69/IP69K dust and water resistance ratings, as well as drop resistance certification. Its display is also made with Corning Gorilla Glass Victus 2.
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I subjected the REDMI Note 15 Pro 5G to simple drop and water tests, and unsurprisingly, the review unit survived these. One drop test on floors made of hard tiles did result in small dents in the phone’s rear camera panel but did not affect its performance.
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Of course, only time will tell just how much (intentional and accidental) beating this phone can take, but its “Titan Tough” build can give users peace of mind — especially at a time when smartphones are set to become more expensive due to the surge in memory chip costs fueled by growing AI demand. Customers also get a four-year battery replacement warranty, two-year liquid damage coverage and front and back cover replacement, and a comprehensive two-year overall warranty.
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With its durability and long battery life, the REDMI Note 15 Pro 5G is a very capable daily driver for those who want a smartphone that can deliver great performance at a competitive price. — Bettina V. Roc
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- Pit Señor! Toyota Motor Philippines celebrates Sinulog with Coco Martin
- https://www.bworldonline.com/spotlight/2026/01/23/726093/pit-senor-toyota-motor-philippines-celebrates-sinulog-with-coco-martin/
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- Fri, 23 Jan 2026 07:00:25 +0000
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- https://www.bworldonline.com/?p=726093
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- Toyota Tamaraw Ambassador pays homage to Sinulog
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Toyota Motor Philippines (TMP) brought extra excitement to this year’s Sinulog celebration by welcoming Coco Martin to Cebu City during the festival weekend. Through this, TMP highlighted its support for local traditions and its commitment to engaging communities across the Philippines.
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Festival-goers were treated to a memorable experience, seeing Coco Martin up close as he joined the festivities, bringing energy and star power to the vibrant celebration.
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For Coco Martin, the Sinulog is not only a fiesta but also an occasion for people to unite in prayer and set aside differences.
-Coco Martin shines during his Sinulog Grand Parade appearance.
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“Ramdam mo dito yung tibay ng loob at pananampalataya ng mga Cebuano (You feel the Cebuanos’ inner strength and faith),” he said during his visit to Cebu City on Sinulog weekend.
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TMP’s initiative not only amplified the spirit of Sinulog but also created meaningful connections with the people of Cebu.
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TMP and Coco Martin timed his Next Generation Toyota Tamaraw Roadshow with the Sinulog celebration, held every third weekend of January in Cebu, to be one with the Cebuano devotees. He proudly carries his badge as the Tamaraw Next Generation ambassador, enthusiastically going from one city to another to engage with the Tamaraw customers and his fans.
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Cebu City was his fourth stop after Cagayan de Oro City, Tacloban City, and Marilao, Batangas. He has more cities to visit in the months ahead.
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He likens the strong and persevering faith of the people of Cebu to the durability and reliability of the Tamaraw Next Generation. A devout Catholic, the actor/filmmaker who is behind the TV hit series FPJ’s Ang Probinsyano and FPJ’s Batang Quiapo, has a strong devotion to the Black Nazarene.
-Coco Martin meets with the customers of Toyota Mabolo and fields questions about the Tamaraw from the Cebu media.
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Toyota Motor Philippines (TMP) brought Coco Martin closer to Cebuano fans during the Sinulog weekend, starting with a meet-and-greet at the Toyota Mabolo showroom with Toyota Tamaraw customers. He then entertained mallgoers with lively performances, trivia games, and photo opportunities, even trying the steps of the traditional Sinulog dance. The weekend culminated with Coco joining the Grand Parade aboard a “Next Generation Toyota Tamaraw” float organized by Toyota Team Cebu, braving intermittent weather to experience the Sinulog beat and delight the street crowd.
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The Next Generation Toyota Tamaraw utility van, launched in 2024, has quickly become a popular choice among micro, small, and medium enterprises (MSMEs), start-ups, and those familiar with the early Tamaraw FX. With its design customizability, fuel efficiency, and affordability, the Tamaraw is now increasingly seen on roads nationwide, supporting nation-building by enabling better mobility and empowering MSMEs to grow their businesses.
-Eric Ong (leftmost) and his family receive the ceremonial key to their Tamaraw FX from Tamaraw Ambassador Coco Martin (in brown jacket) at the Toyota Mabolo showroom on Sinulog weekend.
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Cebu businessman Eric Ong has just bought his second Tamaraw, the 2.4 GL Utility Van DSL AT. He already has the Dropside DSL A/T variant that he uses for his construction business, Worldwide Builders.
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He said he had waited for the 2.4 GL Utility Van DSL AT automatic transmission because it is more efficient to drive than a vehicle with manual transmission. Also, when he needs to load purchases of auto parts needed for his EGO Taxi fleet, the FX provides security for his cargo. And, he added, human passengers can safely ride in the Tamaraw FX.
-Christine and Marc Lin (first and second from left) and their son (fourth from left) receive the ceremonial key to their Tamaraw FX from Tamaraw Ambassador Coco Martin (center) at the Toyota Mabolo showroom on Sinulog weekend. With them is their agent Jinggoy Olvido.
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Marc and Christine Lin just bought a Tamaraw FX DSL A/T, intending it for their restaurant business especially for delivery. They said they find the Tamaraw “sturdy and reliable.”
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The Ongs and the Lins received the ceremonial keys to their Tamaraw FX from Coco Martin at the Toyota Mabolo showroom on Jan. 17.
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The FX is the first and only utility van with automatic transmission across all brands in the Philippine market today, according to Toyota Mabolo.
-Lester Alferez (left) bought a Tamaraw because he wanted a more efficient delivery of his coffee beans and other supplies for his business. With him is his agent Jay Naparate.
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Lester Alferez, who is in the coffee industry, found the Tamaraw “a reliable vehicle that can handle daily work in the shop.”
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“It’s strong, practical, and perfect for our coffee business needs,” he said.
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Toyota has rolled out new colors for the Tamaraw utility van: greyish blue metallic and super red for the Tamaraw FX DSL MT and super red for the Tamaraw Dropside DSL AT.
Follow Toyota Motor Philippines onFacebook,InstagramandX, and join the ToyotaPH community onViberto get the latest updates on products, services, and promos.
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Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.
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Join us on Viber at https://bit.ly/3hv6bLA to get more updates and subscribe to BusinessWorld’s titles and get exclusive content through www.bworld-x.com.
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- Poor student literacy rates seen weighing on PHL economic growth
- https://www.bworldonline.com/education/2026/01/23/726079/poor-student-literacy-rates-seen-weighing-on-phl-economic-growth/
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- Fri, 23 Jan 2026 05:03:55 +0000
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- https://www.bworldonline.com/?p=726079
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- By Almira Louise S. Martinez, Reporter
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The Philippines may experience an economic slowdown fueled by the low proficiency levels of students, as literacy rates in both local and international assessments decline.
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“A decline in literacy weakens human capital, lowers workers’ ability to adapt to technology, and limits movement into higher-value jobs,” John Paolo R. Rivera, senior research fellow at the Philippine Institute for Development Studies (PIDS), told BusinessWorld in a Viber message.
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“If this trend is not reversed, the Philippines risks slower long-term growth, weaker competitiveness, and deeper inequality, as more Filipinos remain trapped in low-skill, low-pay work while other countries move up the value chain,” he added.
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The foundational learning crisis has been a long-term problem for the country for at least 30 years, according to the Second Congressional Commission on Education (EDCOM 2).
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“If you see our curriculum for the past three decades, it’s very ambitious, it’s very aspirational. You go from so many types of literary texts, you study poems, short stories, extended essays,” EDCOM 2 Executive Director Karol Mark R. Yee told BusinessWorld in an interview.
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“But (it) turns out our challenge was illiteracy and the lack of ability to comprehend complex texts,” he added. “We need a curriculum that adapts to the learner, and we need to strategize and prioritize because we can’t expect them to learn everything.”
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Functionally illiterate Filipinos on the rise
-Data from the agency showed that about 24.8 million Filipinos were functionally illiterate in 2025, nearly doubling from the 14.5 million in 1993.
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The same concern was evident in the 2024 Functional Literacy, Education, and Mass Media Survey (FLEMMS) report by the Philippine Statistics Authority (PSA), which showed 18.9 million Filipinos aged 10 to 64 were considered functionally illiterate.
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Functional illiteracy, as defined by the local statistics agency, is the ability to read, write, and compute, but lacks comprehension skills.
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One of the most alarming markers flagged by Mr. Yee is the poor performance of elementary students, specifically in grades 1 to 3, where 85% are struggling to read, and only 15% can read according to their grade level.
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“We need to focus on the foundation,” he said. “We really need literacy until grade 3 because without that, you cannot keep moving them up to further grade levels to learn the other complex tasks.”
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The SEA-PLM 2024 report
-In the 2024 Southeast Asia Primary Learning Metrics (SEA-PLM), Filipino grade 5 students were lagging in reading and mathematics within the region.
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The study revealed that only 13% of learners were considered to have reached the minimum reading proficiency, while 14% have reached the minimum proficiency in mathematics.
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“If you look at the global data, it is really declining, which is why we’re not the only ones saying there’s a crisis – almost all are facing their own crisis,” Mr. Yee said.
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“Except that for us, because this is perhaps the first time that we are confronting this… It is clear to us that we are not alone. There’s a lot of us, and many have already succeeded,” he added.
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Economic effects of the learning crisis
-The decades-long learning crisis will have lasting implications for the country’s future workforce, Federation of Free Workers President Jose Sonny G. Matula said. “If literacy rates keep falling, the long-term risk is that the economy becomes locked into low value-added work.”
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“That means slower productivity growth, weaker ability to absorb technology, reduced competitiveness in higher-skill manufacturing and services, and greater inequality because fewer workers can move up the skills ladder,” he added in a Viber message.
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Mr. Matula noted that the industries that could be affected by workers lacking foundational literacy skills include manufacturing and production lines, construction, and OSH-sensitive work, logistics and inventory systems, customer handling and documentation services, and gig work where workers must navigate apps, terms, ratings, and digital pay systems.
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“At the macro level, declining literacy undermines human capital – so GDP growth becomes harder to sustain, more fragile, and less inclusive because productivity improvements stall,” he said.
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“A major gap is the tendency to treat literacy as a ‘school issue only’ when it is also a labor, economic, and social protection issue,” he added.
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Leonardo A. Lanzona, an economics professor at Ateneo De Manila University, said that roughly one year of schooling can lead to a 7% increase in wages. “We can perhaps infer that illiteracy is close to losing 7% of wages per year.”
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Analysts underscored that persistent low learning outcomes could lead to significant economic losses.
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“Global studies suggest learning losses can cost countries several percentage points of GDP (Gross Domestic Product) over the long run through lower lifetime earnings, weaker productivity, and reduced tax revenues,” Mr. Rivera said.
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“For the Philippines, persistent poor literacy could mean billions of pesos in foregone income annually, especially as the economy becomes more digital and skills intensive.”
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Citing the data from the World Literacy Foundation in 2023, Ateneo Center for Economic Research and Development Director Ser Percival K. Peña-Reyes echoed similar worries, stating that lost earnings, reduced productivity, and limited employability caused by illiteracy could cost $4.72 billion or P277 billion annually.
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He added that the United Nations Children’s Fund (UNICEF) also warned of a potential $17 trillion in lost lifetime earnings for the current generation globally without intervention.
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“These numbers highlight the severe learning crisis in the Philippines, especially post-pandemic,” he told BusinessWorld in a Viber message.
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By 2028, Mr. Yee said EDCOM 2 is seeking around 30% improvement in the reading proficiency of grade 3 students, raising the grade-level readers from 43% to 75% within three years.
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Reforms underway
-“Our proposal is that by 2028, we hope that 75% of all of our grade 3 students are reading at their grade level,” he said. “That will be a very good start because it means that we have seriously undertaken the reforms needed.”
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The Department of Education (DepEd) aims to address learning gaps through different education reforms and initiatives, such as the ARAL (Academic Recovery and Accessible Learning) program.
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The ARAL program, launched on Sept. 13, is mandated under Republic Act No. 12028 and aims to provide tutorial support for kindergarten to grade 10 learners in reading, mathematics, and science.
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In the 2026 budget for education, P8.93 billion will be allocated to the ARAL program to ensure learning gaps are addressed by “adequately trained and fairly compensated” tutors.
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- New Google Gemini update enables beginners to create software
- https://www.bworldonline.com/technology/2026/01/23/726069/new-google-gemini-update-enables-beginners-to-create-software/
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- Fri, 23 Jan 2026 02:01:23 +0000
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- https://www.bworldonline.com/?p=726069
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- Multinational technology firm Google announced on Thursday a major update to its artificial intelligence (AI) model, Gemini, where users even beginners, can begin developing software through the new Google AI Studio.
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In a statement, the tech company said that through Google AI Studio, powered by Gemini 3, software development is now heading into an era of “vibe coding.”
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This means that the user can just provide a prompt or idea, while the AI, such as Google AI Studio, does the work by handling the code, visuals, and logic.
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Google said that, basically, even beginners with no programming background can create software with the new update.
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”We’re moving from a world where you have to write every line manually, to a world where you orchestrate,” said Logan Kilpatrick, group product manager at Google DeepMind, the company’s AI research lab.
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”The fundamental skills of critical thinking and creativity are becoming more valuable, not less,” he added.
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Google AI Studio can be accessed through the website aistudio.google.com. Upon visiting the website, there is a chatbox that allows the user to write a prompt for the desired software or application.
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Based on an initial attempt, the indicated prompt generated a working result in minutes, which is aligned with what Google claimed in its statement.
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Multimedia formats such as video, image, and audio inputs can also be uploaded to the platform and integrated into the generated application. Then it can deployed to Google Cloud with a single click, Google said.
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The tech giant said that by removing traditional coding barriers, Google is empowering users such as students, educators, and entrepreneurs to focus on innovation, creativity, and real-world problem solving.
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The Gemini app is being used by over 650 million users per month, according to Google’s report in November.— Edg Adrian A. Eva
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- BIR to resume issuance of LoAs within Q1
- https://www.bworldonline.com/top-stories/2026/01/23/725961/bir-to-resume-issuance-of-loas-within-q1/
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- Thu, 22 Jan 2026 16:34:38 +0000
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- https://www.bworldonline.com/?p=725961
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- THE BUREAU of Internal Revenue (BIR) may resume the issuance of letters of authority (LoA) within the first quarter, as the agency seeks to boost revenue collection.
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Finance Secretary Frederick D. Go said tax audits should be resumed as the BIR seeks to meet its revised P3.431-trillion revenue target this year.
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“We need to resume that. We need that for revenue collection,” he told reporters on Wednesday evening.
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An informed source said the BIR will likely resume LoA issuance within the first quarter.
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The LoA is a document from the BIR that allows an examiner to inspect taxpayer accounts. It is required before any tax audit can proceed.
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Last November, the BIR banned all field audits, including the issuance of LoAs, mission orders and examinations, following misuse allegations by business groups and lawmakers.
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“I must tell you that the Bureau of Internal Revenue (BIR) cannot also survive with these letters of authority suspended forever,” Mr. Go said during his speech at the Financial Executives Institute of the Philippines event on Jan. 21.
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The BIR collected only P3.11 trillion in 2025, missing its full-year target of P3.22 trillion.
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Data provided to journalists showed that the BIR has lowered its revenue collection target this year to P3.431 trillion, 4.14% lower than the previous goal of P3.579.9 trillion. However, it is 10.5% higher than the actual collection in 2025.
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“When we resume this (LoA) activity, we will reduce the number of departments within the BIR authorized to issue letters of authority, and reduce the number of letters of authority a taxpayer can receive in any given year,” Mr. Go said.
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Mr. Go said the BIR will also digitalize and institutionalize a data-driven audit selection process for LoA.
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“By leveraging automated risk-based modeling, we are creating a system that minimizes discretion and strengthens accountability. The keyword here is quality assessments, and we will not allow arbitrary or abusive audits,” he said.
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The BIR earlier announced preparations ahead of the suspension’s lifting to address concerns of businesses. Business groups have long complained that inconsistent audit practices create uncertainty and expose firms to potential abuse.
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BIR Commissioner Charlito Martin R. Mendoza has said the agency earlier established a Technical Working Group Review Committee on Assessment Integrity and Audit Reform following the suspension of tax audits.
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The committee is now in the final stages of completing the policy issuances that will guide audit procedures once the freeze is lifted, he said.
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Mr. Mendoza had said that once audits resume, taxpayers will have access to an LoA verifier through the BIR’s Chatbot REVIE, and a new policy will limit audits to one LoA per taxpayer.
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He added that the agency will also implement a “revalida,” or audit‑the‑auditors system, to tighten accountability among revenue officers.
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These reforms are part of the BIR’s five-point priority reform agenda, called BIR DARES, with audit reforms as its top priority.
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DARES stands for Digital and Data Transformation, Audit Reform and Accountability, Revenue Collection and Base Protection, Employee Empowerment and Welfare Promotion, and Service Excellence and Stakeholder Engagement.
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Meanwhile, the Bureau of Customs’ (BoC) 2026 collection target has also been lowered to P1.003 trillion, 1.07% below the original goal of P1.0138 trillion but 7.34% higher than the P934.4-billion actual collection last year.
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Customs Commissioner Ariel F. Nepomuceno earlier said the agency missed its P958.71-billion target in 2025 due to slower import activity amid the rice import ban and the corruption scandal.
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In addition, the government raised its nontax revenue collection target by 40.47% to P349.9 billion from its previous target of P249.1 billion.
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For 2026, the collection target for other offices is pegged at P38.7 billion. — ARAI
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- Philippines falling short of its RE targets, says S&P Global
- https://www.bworldonline.com/top-stories/2026/01/23/725960/philippines-falling-short-of-its-re-targets-says-sp-global/
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- Thu, 22 Jan 2026 16:33:38 +0000
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- https://www.bworldonline.com/?p=725960
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- By Sheldeen Joy Talavera, Reporter
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THE PHILIPPINES may not be able to hit its renewable energy (RE) targets on time due to grid constraints and challenges in securing permits, according to S&P Global.
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Vince Heo, director of Asia-Pacific Power and Renewables Research at S&P Global, said that RE’s share in the national power mix may only reach 27% in the next four years and 50% by 2050.
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“We are making a forecast. It’s our own view. It’s not based on our base case,” Mr. Heo told reporters on the sidelines of an event in Makati City on Wednesday.
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S&P Global’s latest forecast falls short of the Philippines’ target to raise the share of renewables in the power generation mix to 35% by 2030 and 65% by 2050.
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RE accounts for 25% of the country’s energy mix.
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Coal still dominates the energy mix but the Philippines is trying to move away from fossil fuel and tapping renewables to have a cleaner and more sustainable source of power.
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The Department of Energy (DoE) has been launching a series of green energy auctions (GEAs) to entice more developers to harness renewable energy sources, which has so far promised around 20 gigawatts (GW) of potential capacity.
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Despite this, Mr. Heo said that there is still “a big gap” between the government targets and the green energy auction.
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“They always disclose a very big number but when let’s say the GEA-4 was announced, we discounted the actual capacity to be installed knowing that there will be challenges in meeting all these targets,” he said.
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“Let’s say all these solar projects, seven gigawatts are all operational, there’s an issue with dealing with this intermittency from solar and there’s not enough storage in the power grid,” he added.
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Mr. Heo said this would likely push the country to rely more on “firm capacity” from coal and gas, which can provide round-the-clock power.
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Earlier this year, the National Grid Corp. of the Philippines — the country’s sole grid operator — has called for “a more incisive and progressive policies” on the entry of variable renewable energy to ensure grid stability.
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At the same time, Mr. Heo pointed out that the cost of financing a project in the Philippines is higher than in other countries.
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“I think [the Philippines has] a WACC (weighted average cost of capital) estimation of about 10-11% for solar project which is about 3-4% higher than the other markets and that’s a big portion of your project,” he said.
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Mr. Heo said the Philippines has higher country risk, making it difficult for international banks to finance projects in the Philippines.
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“A lot of things on the government regulation, uncertainties in the transmission, etc. It’s much more clear and visible in other advanced markets than the Philippines,” he said.
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Mr. Heo said the DoE’s termination of RE contracts is “good news,” as it shows the government is committed to transparency.
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“I think it’s good that the government came out and announced this news so that everyone knows what’s happened and the consequences of not meeting the timeline,” he said.
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The DoE earlier said it has terminated and relinquished 163 RE contracts, which is equivalent to nearly 18 GW of potential capacity, due to the failure of developers to implement these projects.
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Also, Mr. Heo said the Philippines is attracting more foreign interest after it opened its RE market to 100% foreign ownership.
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“Philippines is an interesting market, but definitely the government lifting the foreign ownership restrictions was a good trigger. We see a lot of foreign developers and investors now interested in the Philippines market,” he said.
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Meanwhile, Avril de Torres, deputy executive director at think tank Center for Energy, Ecology, and Development, said that failing to meet the RE targets “is certainly a possible scenario for the Philippines.”
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She said that this is due to the government’s policy directions that allow coal, gas, and other “detrimental energy sources” to crowd out renewable energy, rather than be displaced by it.
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“The government must ramp up support for distributed and community-based RE initiatives to help take advantage of this untapped potential, such as through incentives and concessional financing,” Ms. De Torres told BusinessWorld.
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- Rice millers committed to higher farmgate prices for palay — DA
- https://www.bworldonline.com/top-stories/2026/01/23/725959/rice-millers-committed-to-higher-farmgate-prices-for-palay-da/
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- Thu, 22 Jan 2026 16:32:38 +0000
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- https://www.bworldonline.com/?p=725959
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- By Vonn Andrei E. Villamiel
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RICE MILLERS have committed to raising their buying prices for both wet and dry palay (unmilled rice), while importers agreed to an initial shipment of 300,000 metric tons (MT) to arrive by the end of February, ahead of the peak harvest season, the Department of Agriculture (DA) said.
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At a briefing on Thursday, Agriculture Assistant Secretary Arnel V. De Mesa said the commitment followed consultations by the DA with rice millers and importers, amid the early start of the dry-season harvest.
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Mr. De Mesa said millers agreed to buy unmilled grain at a minimum of P17 per kilo for wet palay and P21 per kilo for dry palay, particularly in major rice-producing provinces in Northern and Central Luzon.
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“The millers committed that they will buy at that price. Hopefully, it will be maintained until the end of the harvest season in April,” he said in mixed English and Filipino.
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The higher farmgate price is expected to provide much-needed support to farmers, as palay prices have dropped over the past year.
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Preliminary data from the Philippine Statistics Authority showed that the national average farmgate price of dry palay in 2025 was P17.70 per kilo, down 24.62% from P23.48 a year earlier.
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Following consultations with importers, the DA also identified an initial import volume of about 300,000 MT through the end of February, subject to further review based on market conditions.
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“The volume needs to arrive on or before the end of February, so that it will not coincide with peak harvest in March and April,” Mr. De Mesa said.
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According to guidelines issued by the Bureau of Plant Industry, rice shipments arriving beyond the Feb. 28 deadline will be returned to the source country at the expense of the importer.
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Data from the bureau showed that 178,397 MT of imported rice arrived in the country from Jan. 1 to 15, more than double the 71,772 MT initially projected for the period.
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Mr. De Mesa said the DA will study whether to reimpose an import ban or further limit import volumes once the peak harvest season begins in March.
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He added that the tariff rate on imported rice remains at 15%, pending an official announcement from the agency.
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In a separate statement, the DA said rice tariffs will not be raised until February and that the final details will be “carefully managed to avoid unnecessary market speculation.”
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Under the implementing guidelines of Executive Order No. 105, the rice tariff rate for January was scheduled to be announced by Jan. 15, based on December prices of Vietnam 5% broken rice, and will remain in effect until May 15.
DIGITAL PAYMENTS in the Philippines continued to grow in 2025 as transfers made through InstaPay and PESONet amounted to P24.745 trillion last year.
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Data from the Bangko Sentral ng Pilipinas (BSP) showed that the combined value of transactions done via the payment gateways stood at P24.745 trillion at end-2025, surging by 42.02% from P17.423 trillion at end-2024.
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Meanwhile, the volume of payments more than tripled to 4.773 billion last year from 1.508 billion in 2024.
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As of December 2025, the value of transactions done on InstaPay soared by 57.27% to P11.554 trillion by the end of last year from P7.347 trillion at end-2024.
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Meanwhile, the volume of transactions coursed through the payment gateway jumped by 231% year on year to 4.656 billion at end-December from 1.407 billion previously.
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Local households and businesses’ increasing use of digital payments led to the strong growth of InstaPay and PESONet transactions in 2025, Union Bank of the Philippines Chief Economist Ruben Carlo O. Asuncion said.
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“Wider adoption of mobile banking and e‑wallets, improved interoperability across banks and fintech (financial technology) platforms, and the growing use of digital payments for salaries, bill payments, and business-to-business transactions all contributed to the rise in transaction values in 2025,” he added in a Viber message.
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Mr. Asuncion noted that consumers and businesses have been using such automated clearing houses for large value transactions.
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Meanwhile, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the convenience and security of digital payments likely boosted traffic in both payment gateways.
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“The strong, double-digit growth rates reflect the continued adoption of these digital payment solutions by Filipinos, who are shifting from over-the-counter payment transactions to digital banking due to greater convenience, lower costs, faster, safer and more reliable transactions,” he said via Viber.
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BSP data also showed that P13.191 trillion worth of transactions went through PESONet last year, jumping by 30.91% from the P10.077 trillion recorded in 2024.
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In terms of volume, PESONet processed 117.246 million transactions in 2025, up by 16.25% from 100.853 million in the previous year.
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InstaPay and PESONet are automated clearing houses under the central bank’s National Retail Payment System framework.
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InstaPay is a real-time, low-value electronic fund transfer facility for transactions of up to P50,000 and is mostly used for remittances and e-commerce.
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Meanwhile, PESONet is mainly used for high-value transactions and may be considered an electronic alternative to paper-based checks.
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Analysts said further digitalization push in the financial system would help prop up transactions in both InstaPay and PESONet this year.
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“We expect InstaPay and PESONet transactions to continue expanding this year, supported by sustained digitalization efforts, further onboarding of users into the formal financial system, and the growing role of digital payments in commerce and government transactions,” Mr. Asuncion said.
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“Continued investments in payment infrastructure, enhanced consumer trust in electronic channels, and policy initiatives promoting cash‑lite transactions should help underpin growth moving forward,” he added.
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John Paolo R. Rivera, a senior research fellow at the Philippine Institute for Development Studies, also said that InstaPay and PESONet may see more transactions this year amid growing partnerships between digital wallets and banks as well as government and merchant payment systems.
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“These transactions are likely to continue rising in 2026,” Mr. Rivera said in a Viber message. “Key drivers include financial inclusion efforts, expanding digital wallets and bank partnerships, deeper integration with government and merchant payment systems, and rising comfort with cashless everyday transactions.”
-“Ongoing fintech innovation, improved trust and security, and broader education on digital tools will also support sustained growth for InstaPay and PESONet,” he added.
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The BSP wants digital payments to account for 60%-70% of the total volume of retail payments by 2028, in line with the Philippine Development Plan.
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In 2024, the share of online payments in monthly retail transactions stood at 57.4% in terms of volume and 59% in value terms, the BSP’s 2024 Status of Digital Payments in the Philippines report showed.
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- https://www.bworldonline.com/wp-content/uploads/2024/04/digital-payment-300x200.jpg
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- Gaming sector seen to post modest growth in 2026 — analysts
- https://www.bworldonline.com/corporate/2026/01/23/725975/gaming-sector-seen-to-post-modest-growth-in-2026-analysts/
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- Thu, 22 Jan 2026 16:13:24 +0000
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- https://www.bworldonline.com/?p=725975
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- By Alexandria Grace C. Magno
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ANALYSTS expect the Philippine-listed gaming and casino sector to see modest growth this year, fueled by online gaming expansion and steady mass-market play at physical casinos, though performance is likely to vary across operators due to regulatory challenges, rising costs, and uneven market conditions.
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“Listed gaming firms are shaping up to be a tale of two segments for 2026. Online gaming remains the main growth driver, while physical casinos are expected to deliver more stable but moderate returns, anchored on mass-market play and non-gaming revenues rather than a full recovery in VIP volumes,” said F. Yap Securities analyst Marky Carunungan.
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He noted that companies with diversified revenue streams, strong balance sheets, and exposure to stable tourism markets are better positioned for steady growth, while those reliant on a single customer type or regulatory framework could face greater risks.
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“Online gaming continues to be a key catalyst, benefiting operators with established digital platforms such as DigiPlus Interactive Corp., although earnings visibility remains clouded by regulatory uncertainties,” Mr. Carunungan added.
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Integrated resort operators, including Bloomberry Resorts Corp. and Belle Corp., are expected to benefit from gradual tourism recovery and resilient domestic mass-market play, he said.
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Toby Allan C. Arce, head of sales trading at Globalinks Securities, described the sector outlook as cautiously optimistic, noting that growth will likely continue but at a more measured pace than during the post-pandemic rebound.
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“Demand for gaming and resort experiences is likely to remain supported by recovering tourism, rising disposable incomes in key markets, and the appeal of entertainment-focused destinations,” Mr. Arce said.
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“However, performance is expected to be uneven, reflecting differences in geographic exposure, regulatory environments, and operators’ ability to diversify revenues beyond traditional gaming.”
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Analysts flagged regulatory and policy risks, heightened competition, and higher operating costs — including labor, utilities, compliance, and promotions — as key hurdles that could cap earnings growth despite improving revenues.
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“Any slowdown in regional or global economic growth could weigh on discretionary spending, particularly for high-end gaming and entertainment offerings,” Mr. Arce said.
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“For land-based operators, VIP and premium gaming recovery remains uncertain, while operating expenses and promotional intensity continue to pressure margins,” Mr. Carunungan added.
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Last year, listed gaming and casino companies showed mixed financial results. DigiPlus Interactive posted signs of recovery in the fourth quarter after regulatory changes affected e-wallet access earlier in the year. Pacific Online Systems reported higher net income for the January-to-September period, supported by stable lottery operations through its joint venture, PinoyLotto Technologies Corp.
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Bloomberry Resorts recorded a third-quarter net loss due to higher costs on its MegaFUNalo! online platform and weaker international casino performance. Belle Corp. also saw net income decline for the same period, while PhilWeb Corp. reported a net loss.
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Looking ahead, analysts said sustained travel and tourism, especially in regional hubs with strong cross-border visitation, could help integrated resorts, which combine casinos with hotels, retail, dining, conventions, and entertainment, tap diverse revenue sources.
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“Mass-market and premium mass segments are expected to outperform high-roller play in many markets, as operators focus on volume, stability, and lower credit risk,” Mr. Arce said. “Digitalization, loyalty programs, and data analytics will continue to enhance customer engagement and support repeat visitation, while non-gaming revenue streams will play a growing role in stabilizing earnings.”
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Mr. Carunungan said the shift toward mass-market gaming, non-gaming amenities, and technology-driven customer acquisition will shape the sector’s medium-term outlook.
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“Sustainability, responsible gaming initiatives, and stronger regulatory compliance frameworks are expected to become central to long-term strategy and investor perception,” he added.
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- https://www.bworldonline.com/wp-content/uploads/2026/01/Gambling-casino-300x200.jpg
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- Ayala Corp. plans up to P30-billion bond program
- https://www.bworldonline.com/corporate/2026/01/23/725974/ayala-corp-plans-up-to-p30-billion-bond-program/
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- Thu, 22 Jan 2026 16:12:24 +0000
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- https://www.bworldonline.com/?p=725974
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- LISTED CONGLOMERATE Ayala Corp. has moved to secure regulatory flexibility for future fund-raising after its board approved a plan to register up to P30 billion in peso-denominated bonds with the Securities and Exchange Commission (SEC).
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In a disclosure on Thursday, the company said its board, acting on the recommendation of its finance committee, approved the filing of a five-year shelf registration.
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The registration will allow Ayala Corp. to issue bonds in tranches over time, instead of seeking separate regulatory approval for each offering.
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The company said the required documents and disclosures will be submitted to regulators in the coming months.
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AP Securities, Inc. Equity Research Analyst Shawn Ray R. Atienza said the move is typical for large, diversified groups with ongoing capital requirements across multiple businesses.
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“The shelf registration improves Ayala Corp.’s capital-raising flexibility and streamlines future bond issuances by eliminating the need for repeated SEC approvals,” he said in a Viber message.
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Ayala Corp. is the holding company of the Ayala Group, with businesses spanning real estate, banking and financial services, telecommunications, power generation, healthcare, logistics, infrastructure, industrial manufacturing, education, and technology services.
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At the stock exchange on Thursday, shares in Ayala Corp. rose 2.1% to close at P534 apiece. — Alexandria Grace C. Magno
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- https://www.bworldonline.com/wp-content/uploads/2025/10/Ayala-300x200.jpg
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- Megawide inks lease for P1.19-B Baguio City transport terminal
- https://www.bworldonline.com/corporate/2026/01/23/725973/megawide-inks-lease-for-p1-19-b-baguio-city-transport-terminal/
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- Thu, 22 Jan 2026 16:11:24 +0000
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- https://www.bworldonline.com/?p=725973
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- MEGAWIDE Construction Corp. has signed a lease agreement with the Baguio City Government to implement the P1.19-billion Baguio City Integrated Terminal (BCIT) project.
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In a stock exchange disclosure on Thursday, the listed engineering and infrastructure company said the agreement follows its receipt of the notice of award for the project last year.
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The lease covers the development, construction, and operation of an integrated transport terminal, including mixed commercial spaces within the premises, Megawide said.
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The lease term will not extend beyond the 40th anniversary of the construction start date or the expiration of the applicable usufruct arrangement.
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Megawide noted that the project was awarded after no competing bids were received to challenge the company���s unsolicited proposal.
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The BCIT is designed to handle up to 25,000 passengers daily and will initially serve seven southbound routes, including La Union, Pangasinan, Tarlac, Pampanga, Bulacan, Metro Manila, and Cavite via the planned South Luzon Integrated Terminal Exchange.
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The terminal will be built on a five-hectare property in Barangay Dontogan, about five kilometers from Baguio City proper.
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The project aims to ease traffic congestion in the city by relocating provincial buses and UV Express vans outside the central district.
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On Thursday, Megawide shares rose 17 centavos, or 5.41%, to close at P3.31 apiece. — Ashley Erika O. Jose
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- https://www.bworldonline.com/wp-content/uploads/2024/12/proposed-baguio-terminal-design-300x169.jpg
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- Cebu Pacific to complete turboprop transfer to Clark by March
- https://www.bworldonline.com/corporate/2026/01/23/725972/cebu-pacific-to-complete-turboprop-transfer-to-clark-by-march/
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- Thu, 22 Jan 2026 16:10:23 +0000
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- https://www.bworldonline.com/?p=725972
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- BUDGET CARRIER Cebu Pacific Air, Inc. said it will complete the transfer of its turboprop operations from Ninoy Aquino International Airport (NAIA) to Clark International Airport by March.
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Starting March 29, Cebgo, the airline’s regional brand, will operate from Clark, covering its Coron (Busuanga) and Naga routes, the company said in a statement on Thursday.
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The move follows a 2025 resolution issued by the Department of Transportation’s (DoTr) Manila Slot Coordination Committee directing the relocation of turboprop operations outside Metro Manila.
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Boutique airline AirSWIFT, a wholly owned subsidiary of Cebu Pacific, will also transfer its operations to Clark from NAIA Terminal 2.
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The shift will affect its Manila-El Nido-Manila flights, the company said.
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Cebu Pacific said affected passengers will be automatically rebooked on new flights departing from Clark.
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It added that passengers may opt for free rebooking, refunds, or travel fund conversion should they prefer alternative arrangements.
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The government had earlier deferred the implementation of the turboprop relocation to March this year from October last year to give airlines additional time to complete the transition.
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The transfer aims to help decongest NAIA and improve air traffic flow, the airline said.
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Cebu Pacific also said it will increase flight frequencies for selected domestic and international routes from Manila.
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Weekly flights will rise to 63 for Bacolod, 46 for Butuan, 69 for Cagayan de Oro, 108 for Cebu, 90 for Davao, 42 for Dumaguete, 14 for Ozamiz, 49 for Tacloban, and 45 for Zamboanga.
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Internationally, the airline will increase Manila-Hong Kong flights to 35 per week from 28, and Manila-Kaohsiung flights to five per week from three.
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Cebu Pacific currently serves 37 domestic and 26 international destinations with a fleet of 100 aircraft. — Ashley Erika O. Jose
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- https://www.bworldonline.com/wp-content/uploads/2026/01/CEB-ATR_72-500-air-CEBu-Pacific-300x200.jpg
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- SPNEC seeks SEC nod for rebranding to MGEN Renewable Energy
- https://www.bworldonline.com/corporate/2026/01/23/725971/spnec-seeks-sec-nod-for-rebranding-to-mgen-renewable-energy/
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- Thu, 22 Jan 2026 16:09:23 +0000
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- https://www.bworldonline.com/?p=725971
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- SP NEW ENERGY CORP. (SPNEC) said it has applied for regulatory approval to change its corporate name to MGEN Renewable Energy Holdings, Inc., as part of a broader rebranding initiative within its parent group.
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In a statement on Thursday, SPNEC said it filed an application with the Securities and Exchange Commission (SEC) to amend its corporate name and change its stock symbol to MGENR.
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The company said the move forms part of the “ongoing rebranding initiative” of its parent, Meralco PowerGen Corp. (MGEN), which began in August last year.
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“It aims to strengthen alignment and consistency across the One MGEN group as it presents a unified identity for its diversified power generation portfolio, including renewable energy,” SPNEC said.
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SPNEC added that the initiative is intended to “enhance clarity and ease of identification for stakeholders and does not involve any changes to SPNEC’s ownership structure, operations, or existing renewable energy projects.”
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SPNEC is a subsidiary of MGEN, the power generation arm of Manila Electric Co. (Meralco).
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Analysts said the rebranding may help clarify the company’s position within the Meralco group following recent developments in the renewable energy sector.
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“SPNEC’s corporate name change positions the company away from the Solar Philippines branding and allows it to be perceived as a renewable energy arm within Meralco’s ecosystem, which has an impeccable track record in project execution,” Shawn Ray R. Atienza, an equity research analyst at AP Securities, Inc., told BusinessWorld.
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Juan Paolo E. Colet, managing director at China Bank Capital Corp., said the move could support Meralco PowerGen’s longer-term plans for its renewable energy business.
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“I think this confirms that Meralco PowerGen will push through with the backdoor infusion of its renewable energy business into the listed company,” he said.
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MGEN said last year that it is evaluating a potential initial public offering of its renewable energy unit, MGEN Renewable Energy, Inc., which may involve the injection of assets into SPNEC in exchange for shares.
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SPNEC is developing the MTerra Solar Project through its subsidiary, Terra Solar Philippines, Inc.
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The project consists of a 2,500-megawatt solar facility with a 4,600-megawatt-hour battery energy storage system located in Nueva Ecija and Bulacan.
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The first phase of the project is expected to be completed early this year, while the second phase is scheduled for completion in 2027.
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MTerra Solar is expected to contribute to MGEN’s goal of reaching 1,500 megawatts of renewable energy capacity by 2027.
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Meralco’s controlling shareholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera
+
+
Atty. Gutierrez alights as president, Mr. Atienza takes the wheel
+
THE COUNTRY’S “foremost automotive industry organization” changes drivers, so to speak.
+
On its milestone 30th anniversary, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) bade farewell to its president of 14 years, Atty. Rommel Gutierrez, who also retired from his post at Toyota Motor Philippines Corporation (TMP). Taking his place is TMP Executive Vice-President Jose Maria “Jing” Atienza.
+
“To say that this has been an interesting and rewarding experience is an understatement,” said Atty. Gutierrez to CAMPI members, the press, and guests during a formal turnover ceremony held last week at the Grand Hyatt Manila in Bonifacio Global City, Taguig. “A lot of the most wonderful people I have met in my entire professional life are in this room. You have all been mentors, advocates, supporters and friends.”
+
CAMPI has become a significant industry association, boasting 29 member companies. During its anniversary celebration last June, a “renewed strategy” for the group was conveyed – a strategy Mr. Atienza said he will continue to champion. The foundational pillars are: technology and innovation (promotingthe adoption of electric vehicles, autonomous systems, and digital platforms to deliver smarter, more efficient mobility solutions); sustainability (advocating for carbon neutrality through electrification, fuel diversification, and energy-efficient practices [to] address climate challenges), road safety (advancing industry-wide safety standards and international alignment to enhance protection for all road users), and industry development (focusing on regional integration, workforce development, and positioning the Philippine automotive sector to compete globally).
+
Atty. Gutierrez leaves a CAMPI that almost reached half a million units in consolidated sales last year – despite a 2025 marred by political, natural, and economic turmoil.
+
In a report from CAMPI and the Truck Manufacturers Association (TMA), total sales reached 491,395 in 2025 – a number that includes 26,122 units from Chinese auto brand BYD (not yet a CAMPI member). “The industry delivered a modest growth last year due to the overall unfavorable market environment during the second half, caused by a number of factors such as the reimposition of excise tax on pickup trucks and several natural calamities experienced across the country,” said an accompanying release. Nonetheless, member companies sold 47,371 vehicles last December – “the strongest monthly performance since 2017.”
+
Mr. Atienza attributed the sales rally to “aggressive promotional campaigns and new product introductions from the various car brands which expanded consumer options, especially in electrified and commercial vehicle segments.”
+
Electrified vehicles (xEVs) accounted for 12% of sales, up from 5.5% the previous year, with battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hybrid electric vehicles (HEV) growing by a hefty 142.5% compared to 2024. Commercial vehicle sales went up by 7% (from 346,482 units to 370,722 units). However, passenger car sales dipped by 23.1% – for a total of 92,924 units from 120,770 units the year before.
+
“We did look into the numbers. Essentially, last year, the market was flat, but there was small market growth, thanks to a strong December market. We were still able to achieve (a sales increase),” said Mr. Atienza in a separate interview with members of the media. “There’s a big chance that the market can achieve 500,000 units this year… (basing) from the trend. If you look at the numbers last year, the first half was high, five to seven percent. The second half was either one or two (percent). But we’re still hopeful (about the 500,000 units).” Growth is expected to be modest at 2.4% or 2.5%. “In general, the market is quite sound. It’s just about when customer confidence comes in.”
+
He asserted that the “foundation of the market is still strong.” And while, as mentioned, pickup sales dropped (by 20%) because of excise tax changes, there were segments that did well (electrified automobiles and multipurpose vehicles).
+
Mr. Atienza paid tribute to Atty. Gutierrez and CAMPI leadership, saying that the chamber is in a good position and state of health owing to them and “members who have been very participative.”
+
Asked by “Velocity” on what the priorities are, particularly for its 30th year, he said, “We have four basic pillars as mentioned. It’s quite wide, but you sense probably that there’s a lot of things we have to do together with government… (These include) how to promote manufacturing, safe vehicles, education to improve programs under TESDA (Technical Education and Skills Development Authority) and the Department of Education to have a good pipeline of students. There’s quite a lot.”
+
The growth in electrified vehicles is expected to continue this year. “As an industry, we see the good trend going up. We don’t have an actual projection, because that one will depend on how many new models will be introduced. But as a trend, surely it will increase. It will be higher, the trend is very clear. If you look at the trajectory, it should increase. We are quite positive (about this).”
+
After a brief brouhaha on the funding for the Comprehensive Automotive Resurgence Strategy (CARS) strategy, government recently provided assurances that commitments will be honored this year. “We’re very thankful with the resolution of budget sourcing and payment for the CARS program,” Mr. Atienza maintained. “As you know, there were commitments by automakers which we’ve already done in the past years of the program, and we appreciate the move of the Department of Trade and Industry, Board of Investments, Department of Budget and Management, and Department of Finance for tax credits. Next is RACE (Revitalizing the Automotive Industry for Competitiveness Enhancement). We all know how important it is for automotive manufacturing. We’re always here to work with government and concerned agencies.”
+
Replying to a question from this writer on the possibility of greater local manufacturing activities for CAMPI members, Mr. Atienza averred, “First, we are, as a Filipino chamber, hopeful that the manufacturing industry will continue to grow in the Philippines. Of course, we all know the contribution of manufacturing in general – it can be cars, it can be anything. It’s a very big contribution to the economy and society; we hope that automotive can be part of it.”
+
There are ways to enhance the conduciveness for manufacturing, he explained, such as areas of competitiveness and costing. This is where “collaboration with agencies should come in on how to make Philippines a good environment for investments.” Speaking of, Mr. Atienza emphasized that establishing “a predictable environment” will also go a long way.
+
Does he think that RACE is not merely a contributing factor to realizing increased local auto production activities but a must as far as enticing players or participants go?
+
“It’s a must,” he declared. “But of course, it’s a transition into a longer future for manufacturing. So (we need to work) with government again to achieve that good environment for production.”
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- https://www.bworldonline.com/wp-content/uploads/2026/01/SPNEC-solar-panel-worker-300x200.jpg
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- SEC says new rules on board directors expected this quarter
- https://www.bworldonline.com/corporate/2026/01/23/725970/sec-says-new-rules-on-board-directors-expected-this-quarter/
+ Villar Land says it will respond to SEC complaint
+ https://www.bworldonline.com/corporate/2026/02/02/727768/villar-land-says-it-will-respond-to-sec-complaint/
- Thu, 22 Jan 2026 16:08:22 +0000
+ Sun, 01 Feb 2026 16:03:46 +0000
- https://www.bworldonline.com/?p=725970
+ https://www.bworldonline.com/?p=727768
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- THE SECURITIES and Exchange Commission (SEC) plans to introduce new rules within the first quarter setting fixed terms for independent directors, as part of efforts to strengthen corporate governance and accountability in listed companies.
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Under the proposed rules, independent directors — board members who represent shareholders and help oversee company management — would serve three-year terms, with a maximum cumulative service of nine years.
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The SEC also plans to stagger terms so that not all seats are renewed at the same time.
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“This ensures that boards remain balanced and independent while giving companies time to plan leadership transitions,” SEC Chairperson Francisco Ed. Lim said on Wednesday.
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Currently, independent directors can serve up to nine years, with some companies allowed to extend their terms under special exemptions.
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Mr. Lim said the SEC intends to enforce the nine-year cap more strictly going forward.
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The changes aim to strengthen the role of independent directors in holding management accountable, protecting shareholder interests, and promoting transparency in company operations. — Alexandria Grace C. Magno
+
+ VILLAR LAND Holdings Corp. said it has not yet received a copy of the complaint filed by the Securities and Exchange Commission (SEC) and will respond to all allegations once it does.
+
“Villar Land and its directors will answer all the allegations leveled against them after formal receipt of the alleged complaint,” the company said in a statement over the weekend.
+
Over the weekend, the SEC announced that it had filed a criminal complaint against Villar Land, its related entities, and their officers for market manipulation, insider trading, and misleading disclosures that the regulator said distorted the company’s share prices and misled investors.
+
The SEC filed the complaint on Jan. 30, charging Villar Land (formerly Golden MV Holdings, Inc.) with violations of Sections 24.1(d) and 26.3 of the Securities Regulation Code (SRC) for making false or misleading statements and engaging in acts that operated as fraud or deceit upon investors, according to the Commission.
+
Respondents named in the SEC complaint include Villar Land Chairperson Manuel B. Villar, Jr., former Senator Cynthia A. Villar, directors Cynthia J. Javarez, Manuel Paolo A. Villar, Camille A. Villar, and Mark A. Villar, as well as independent directors Ana Marie V. Pagsibigan and Garth F. Castañeda.
+
The SEC also named related entities Infra Holdings Corp. and MGS Construction, along with their officers Virgilio B. Villar, Josephine R. Bartolome, Jerry M. Navarrete, and Joy J. Fernandez, for alleged violations of Section 24.1(b) of the SRC.
+
According to the SEC, the charges stem from its investigation into Villar Land’s public disclosures and trading activities, which the regulator said misled investors and distorted the market price of the company’s shares.
+
2024 FINANCIAL STATEMENTS
+Villar Land’s 2024 financial statements reported total assets of P1.33 trillion and net income of P999.72 billion, up from P1.46 billion the previous year. The company attributed the increase to a revaluation of its real estate holdings.
+
The SEC said these figures were disclosed to the public before the completion of the company’s external audit. The independent auditor later confirmed that the financial statements were not fully audited, particularly regarding the valuation of major properties. When audited statements were later submitted, total assets were reported at P35.7 billion.
+
The Commission’s complaint also cited trading activities by related entities, including Infra Holdings Corp. — owned by Virgilio B. Villar, brother of Manuel B. Villar, Jr. — and MGS Construction, which the SEC said appeared to create artificial demand and support Villar Land’s share price. Camille A. Villar was named for alleged insider trading after purchasing 73,600 shares in December 2017, shortly before a corporate disclosure that lifted the stock price.
+
“Building investor confidence in the Philippines is crucial in driving the inclusive and sustainable growth of our capital market and business sector for national development,” SEC Chairperson Francisco Ed. Lim said.
+
“In this light, the SEC is firm in addressing fraudulent and manipulative acts that mislead the investing public and distort our capital markets. The Commission likewise enjoins publicly listed companies to uphold the highest standards of good corporate governance to help strengthen and sustain investor confidence badly needed by our capital markets,” he added.
+
In November last year, the SEC revoked the accreditation of Villar Land’s appraiser, E-Value Phils, Inc., for failing to justify its P1.33-trillion valuation of the listed company’s properties. — Alexandria Grace C. Magno
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+ https://www.bworldonline.com/wp-content/uploads/2023/03/SEC-HEADQUARTERS-300x176.jpg
- ’80s nostalgia seen with fresh eyes
- https://www.bworldonline.com/arts-and-leisure/2026/01/23/725924/80s-nostalgia-seen-with-fresh-eyes/
+ Defunding foreign-assisted projects and the costs we now bear
+ https://www.bworldonline.com/opinion/2026/02/02/727717/defunding-foreign-assisted-projects-and-the-costs-we-now-bear/
- Thu, 22 Jan 2026 16:07:47 +0000
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- https://www.bworldonline.com/?p=725924
+ Sun, 01 Feb 2026 16:03:24 +0000
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+ https://www.bworldonline.com/?p=727717
-
- Bagets the Musical gets ready for its audience
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By Brontë H. Lacsamana, Reporter
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STAGING a beloved Filipino coming-of-age tale four decades after the original film came out could be considered a no-brainer in 2026, given how nostalgia is the big thing in different forms of storytelling today. Using the versatility of Philippine theater as a platform, the challenge now is presenting 1980s nostalgia with a refreshed perspective.
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As Bagets the Musical opens this year, it’s important to note the interesting blend of creative groups that brought the show to life. It’s adapted by PETA Plus (the creative agency of the Philippine Educational Theater Association), produced by Viva Communications, Inc. (which produced the Bagets film in 1984), and helmed by Philstar Next (the Philstar Media Group’s entertainment arm*).
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Put all of that together, and you have a musical that aims to recapture the spirit of Filipino youth — with the help of songs from the movie as well as other iconic 1980s hits — while giving audiences some nuggets of reflection to carry home from the show.
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“We hope you’ll enjoy this because the kids worked hard during rehearsals. It’s a fun show and I hope you all enjoy it!” said director Maribel Legarda at the start of the open rehearsals on Jan. 21.
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(As with all technical dress rehearsals, the show BusinessWorld saw was not yet fully polished, so there were a few mishaps with lighting. Otherwise, it was already mostly how it should be on opening night.)
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“It’s not perfectly clean yet, but generally it’s complete and you’ll get a sense of what Bagets has become from its transition from the 1984 movie to the musical you’re going to see,” Ms. Legarda said.
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A cute touch while the audience waits for the curtains to rise is the voiceover announcing the minutes left before the show starts — each one is recorded by a cast member announcing the time in character.
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The musical opens by traveling back in time, as a large box television set projected on the screen in front takes us from 2026 newsbites to all the way back to the vibrant colors and sounds of 1984.
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After that, the energy kicks off, as five young men — Topee, Tonton, Gilbert, Arnel, and Adie — cap off their third year in high school causing trouble as usual. Hilarious antics follow as they get kicked out of their school and launch into a series of adventures and misadventures both at home and in their new school, revealing complex family issues at the same time.
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Tall, rolling set pieces were utilized cleverly, allowing us to glimpse each boy’s house in multiple scenes, while the mini car they used onstage was fun to see as it glided around.
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While the timing of the lights with the music and dialogue was, indeed, a work-in-progress, the use of set pieces, props, and LED screens is exciting. It’s fun to watch a dynamic PETA Plus production on a stage as vast as the Newport Performing Arts Theater.
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The five leads were played by Sam Shoaf, Milo Cruz, Noel Comia, Jr., Ethan David, and Andres Muhlach during the open rehearsals, and it was good to see that a shared chemistry was there.
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Admittedly, there were some glaring pain points in terms of singing and dancing skills. Some of the performers take to the songs and choreography better than others, but the chemistry of the five as friends is undeniable.
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Each brings something different to the table. Sam Shoaf has a magnetic presence as martial arts ace and athletic heartthrob Topee. Milo Cruz is a solid performer who can sing and bust out moves as he takes on daredevil Tonton. Noel Comia, Jr., stands out as an actor, able to bring out both the comic relief and endearing geek within Gilbert. Ethan David lends his beautiful voice to the role of well-mannered rich kid Arnel.
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Andres Muhlach probably has the most pressure on him out of the bunch, having the least performing experience in the group and being inthe shadow of his father who originated the role of the baby-faced romantic Adie in the movie. Still, he perseveres through the songs and choreography, offering a singular charm to the role.
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Altogether, the five make it work, amid understandable first-show jitters and timing issues. The other batch of leads — Jeff Moses, Migo Valid, Tomas Rodriguez, KD Estrada, and Mico Hendrix Chua — would be interesting to see, for a different take on the main barkada.
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Finally, it would be remiss to talk about Bagets the Musical without giving kudos to the actors playing the moms. Thanks to director Ms. Legarda and writer J-mee Katanyag, a noticeable focus of the show is how mothers take care of their sons, expanding the glimpses we see in the original film.
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The ermats are played splendidly by Neomi Gonzales, Natasha Cabrera, Mayen Cadd, Ring Antonio, and Carla Guevara Laforteza, each delivering the quirks and flaws that flesh out dimensions of the boys’ lives. They have their own journey growing up alongside their sons, in the context of working women becoming a norm in the 1980s.
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Another cool element is seeing the machismo and youth culture that only make sense in that time period. While deemed inappropriate and politically incorrect in today’s milieu, it’s intriguing to witness these outdated aspects in a Bagets updated in 2026.
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Most of all, Bagets the Musical leans heavily into the nostalgia, offering a fun time in the theater with hits like “Telefone (Long Distance Love Affair)” and “Wake Me Up Before You Go-Go” alongside iconic Bagets tunes “Growing Up” and “Just Got Lucky.” The entire ensemble really fills out the stage and brings their A-game each time.
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The experience is a good one that both young and old can appreciate. There are even interactive portions that allow the audience to revel in the music and the youthful energy. While there are still things to fine-tune here and there, it’s a show worth checking out.
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Bagets the Musical opens on Jan. 23 andruns until March at the Newport Performing Arts Theater, Pasay City. Tickets, ranging in price from P1,000 to P4,000, are now available at the Newport World Resorts Box Office and via TicketWorld.
-
*The Philstar Media Group is part of MediaQuest Holdings, Inc., as is BusinessWorld.
+
+ For four straight budget cycles, billions of pesos meant for airports, railways, mass transport, flood control, and climate protection were quietly pulled out of the national budget. The projects were approved. The loans were negotiated. The need was undeniable. And yet, year after year, the funding was stripped away at the last moment.
+
What followed was not fiscal discipline. It was paralysis.
+
Idle loans. Delayed infrastructure. Rising costs. Missed jobs. And communities left exposed to floods, congestion, and high prices — while public money flowed elsewhere.
+
This has been the fate of the Philippines’ foreign-assisted projects since 2023. This is not a debate about foreign borrowing. It is about who derailed development — and who is paying for it.
+
+
What happened?
+
From 2023 to 2026, the Executive branch proposed between P200 billion and P280 billion a year in foreign-assisted projects (FAPs) under the National Expenditure Program (NEP). These were not wish lists. They were real projects — already vetted technically and financially, already reviewed for environmental and climate risks, already negotiated with institutions like the Asian Development Bank, the World Bank, and the Japan International Cooperation Agency.
+
Then came the budget process. Between the NEP and the final General Appropriations Act (GAA), legislators removed the bulk of these projects from the programmed budget and dumped them into Unprogrammed Appropriations, where funding becomes uncertain, contingent — or simply unusable.
• 2025: P216 billion proposed; at least P118 billion removed (some reports put it as high as P210 billion); and,
+
• 2026: P283 billion proposed; P190 billion removed, P93 billion of which was vetoed.
+
In just four years, nearly P800 billion worth of foreign-assisted development projects were deprogrammed. This was not an accident. It became a habit.
+
WHAT THIS MEANS IN PRACTICE
+Foreign-assisted projects do not run on promises. They require two things: a peso counterpart from the government, and annual authorization to use the loan.
+
When legislators strip a project from the programmed budget, one or both disappear.
+
The loan itself is not canceled. It sits there — signed, valid, and unused. Without authorization, it cannot be drawn. Construction does not start. Workers are not hired. Communities wait.
+
And while the project is frozen, the money does not vanish.
+
The peso counterpart is reallocated — often to fragmented, low-priority, locally controlled spending: flood control and drainage patches, multi-purpose buildings, assorted assistance programs. These may look useful on paper, but they are no substitute for nationally planned, rigorously vetted infrastructure.
+
In plain terms, development capital is broken apart and recycled into spending that is faster to announce, easier to control, politically more rewarding and vulnerable to abuse.
+
And let’s not forget the hidden costs.
+
Idle loans cost money. Most foreign-assisted loans charge commitment fees — paid simply for not using the funds. From 2023 to 2026, these unused loans likely cost the government hundreds of millions of pesos in fees alone.
+
Then come the delays: price escalation, rebidding, remobilization, redesign. Projects eventually cost more — if they resume at all.
+
But the damage goes further. Foreign-assisted projects are closely watched by investors, credit-rating agencies, and development partners. When a government repeatedly approves projects, negotiates loans, and then blocks their use through its own budget, it sends a message: Plans here are fragile.
+
At a time when foreign direct investment inflows have already plunged, this matters. Defunding FAPs does not explain the entire FDI decline — but it deepens doubts about infrastructure readiness, growth prospects, and the state’s ability to execute long-term commitments.
+
Confidence, once shaken, is slow to return.
+
Who bears the burden? The costs are not shared equally.
+
When rail and bus projects stall, commuters lose hours — and income. When ports and logistics projects are delayed, food prices rise. When flood control projects are postponed, poor communities lose homes, livelihoods, and lives.
+
For the wealthy, delay is an inconvenience. For the poor, delay is devastation.
+
WHY THIS KEEPS HAPPENING
+Politics explains part of it.
+
Breaking up large national projects into smaller local ones delivers immediate visibility — and electoral advantage. The benefits are quick. The costs are distant.
+
But politics is not the whole story.
+
Ongoing investigations by the Senate Blue Ribbon Committee and the Independent Commission for Infrastructure (ICI) have exposed serious cases of ghost and substandard flood control, drainage, and shore-protection projects, as well as diversions to low-priority, far-from-shovel-ready works.
+
Unlike foreign-assisted projects — subject to international procurement rules, lender oversight, multilayered appraisal, and independent audits — these smaller projects often escape scrutiny. Fragmentation makes abuse easier. Oversight becomes harder. Kickbacks become simpler.
+
Arrests have already been made, and further indictments will follow.
+
At that point, defunding development is no longer just bad policy. It becomes a systemic enabler of plunder.
+
Who is accountable?
+
Congress removed the projects. That much is clear.
+
But the Executive cannot escape responsibility. These projects were proposed, defended in hearings, and then sacrificed in the final stretch — without a fight strong enough to stop it.
+
In public finance, priorities are not measured by speeches. They are measured by what leaders refuse to give up.
+
Defunding foreign-assisted projects did not save money. It wasted it. It froze infrastructure, raised costs, slowed growth, weakened investor confidence, and shifted the burden onto those with the least protection.
+
As ongoing investigations already confirm that this same process also enabled massive leakages of public funds, the issue is no longer technical. It is moral.
+
The facts are no longer in dispute. The damage is visible.
+
The only question left is: Who will be held to account for the costs we now bear?
+
+
Florencio “Butch” Abad was the vice-chair/chair of the House Committee on Appropriations (1995-2004) and secretary of the Department of Budget and Management (2010-2016). He is currently professor of Praxis at the Ateneo School of Government.
]]>
- https://www.bworldonline.com/wp-content/uploads/2026/01/5-arts-news-Bagets-The-Musical-2026-at-Newport-World-Resorts-300x300.jpg
+ https://www.bworldonline.com/wp-content/uploads/2026/02/PBBM-Marcos-300x200.jpg
- Globe, Nokia widen tie-up to offer new digital tools to businesses
- https://www.bworldonline.com/corporate/2026/01/23/725969/globe-nokia-widen-tie-up-to-offer-new-digital-tools-to-businesses/
+ Life sector to drive insurance industry’s growth
+ https://www.bworldonline.com/banking-finance/2026/02/02/727698/life-sector-to-drive-insurance-industrys-growth/
- Thu, 22 Jan 2026 16:07:22 +0000
-
-
- https://www.bworldonline.com/?p=725969
+ Sun, 01 Feb 2026 16:03:03 +0000
+
+
+
+ https://www.bworldonline.com/?p=727698
-
- GLOBE TELECOM, INC. said it has expanded its collaboration with Nokia Corp. to make network application programming interfaces (APIs) available to more users and businesses.
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The Ayala-led telecommunications company said broader access to network data through APIs could create opportunities for enterprises to use advanced network capabilities across sectors such as banking, healthcare, automotive, and entertainment.
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Under the agreement, Globe will gain access to Nokia’s full portfolio of APIs through the Network Exposure Program (NEP), a cloud-native and programmable platform designed to streamline API services and enable interoperability within network environments.
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“With cyberattacks on digital services accelerating, it is crucial that we make available the latest network-powered technologies to our enterprise customers and help safeguard against fraud. We are now at the stage of testing how Nokia’s NEP can support our customers in the banking and enterprise sectors,” Globe Vice-President and Head of Globe Business Stella Christine D. Dizon said in a media release on Thursday.
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Globe previously partnered with Nokia last year to test the NEP for the development of security-focused applications aimed at addressing mobile banking fraud.
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“Nokia’s open API solutions will empower Globe to rapidly develop and deploy new services, fostering innovation and creating new revenue streams by securely exposing network capabilities to developers and partners,” Nokia Head of Network Monetization Platform Shkumbin Hamiti said.
-
Shares in Globe rose P28, or 1.75%, to close at P1,630 apiece on Thursday. — Ashley Erika O. Jose
+
+ THE INSURANCE INDUSTRY is expected to post steady growth this year, driven by the life sector.
+
“I think we’ll continue. We’ll continue the growth of the industry for life [insurance],” Insurance Commissioner Reynaldo A. Regalado told reporters on the sidelines of an event on Friday.
+
He said the industry recorded “sustained” growth in 2025 as Filipinos remained willing to spend on insurance protection.
+
However, there is room to further expand insurance coverage, especially on the nonlife side, he said.
+
“Eighty percent is on life. But we need to cover much on property. Last year, it was a challenge considering the natural calamities that we felt… But we have to focus on the on the number of coverage and what benefits we’ve been giving our own people, especially those who are not exactly in a certain level of confidence in their economic status.”
+
The combined premiums of the life and nonlife insurance sectors and mutual benefit associations stood at P499.23 billion in 2025, the Insurance Commission (IC) said in a statement on Friday.
+
As a result, insurance penetration, or the ratio of insurance premiums to the gross domestic product (GDP), rose to 1.78% last year from 1.67% in 2024.
+
Insurance density, or the average spending of each individual on insurance, also reached an all-time high of P4,384.56 last year from P3,894.03 in 2024.
+
“The sustained increase in premiums and net worth highlights the industry’s positive momentum entering 2026,” Mr. Regalado said in the statement.
+
“Insurance continues to provide a vital safety net, protecting Filipino families and businesses alike. Through the Commission’s programs on financial literacy and inclusion, together with strengthened regulatory supervision, we aim to broaden access to insurance and achieve even greater protection for all Filipinos this year.”
+
Latest data showed that the life insurance sector’s premium income rose by 14.54% year on year to P403.21 billion in 2025 from P352.02 billion in 2024.
+
“Of the 1.78% of insurance penetration, the life insurance sector accounted for 1.44%, reflecting its significant contribution to overall industry growth,” the IC said.
+
The life sector’s total assets stood at P2.09 trillion at end-2025, growing by 8.54% from P1.93 trillion in 2024.
+
“Despite an 8.19% increase in total liabilities, the total net worth of the insurance industry grew by 10.58%, from P280.99 billion in 2024 to P310.72 billion in 2025,” the IC said.
+
The sector’s net income grew by 15.11% year on year to P46.32 billion. Life insurance companies also paid out a total of P121.88 billion in benefits. — AMCS
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+ https://www.bworldonline.com/wp-content/uploads/2021/04/IC-Insurance-Commission-logo-Philstar-300x176.jpg
- Ayala Land unit signs five-year office lease with LANDBANK
- https://www.bworldonline.com/corporate/2026/01/23/725968/ayala-land-unit-signs-five-year-office-lease-with-landbank/
+ Sugar industry calls for curbs on artificial-sweetener imports
+ https://www.bworldonline.com/agribusiness/2026/02/02/727708/sugar-industry-calls-for-curbs-on-artificial-sweetener-imports/
- Thu, 22 Jan 2026 16:06:22 +0000
-
-
- https://www.bworldonline.com/?p=725968
+ Sun, 01 Feb 2026 16:03:02 +0000
+
+
+
+ https://www.bworldonline.com/?p=727708
-
- THE OFFICE leasing unit of Ayala Land, Inc. (ALI) has signed a five-year lease agreement with Land Bank of the Philippines (LANDBANK) for 3,866.75 square meters of office and parking space at the Ayala Malls Manila Bay Corporate Center.
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In a statement on Thursday, Ayala Land Offices, Inc. (ALO) said the space will be used by selected LANDBANK head office units, departments, and a subsidiary. The lease is scheduled to begin on June 1.
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Under the agreement, LANDBANK is the lessee, Bay City Commercial Ventures Corp. is the lessor, and ALO will serve as the leasing manager.
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ALO said the lease reflects its continuing efforts to meet evolving office requirements as organizations adjust their space needs.
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Ayala Land reported combined revenues from office and commercial and industrial lot sales of P12.8 billion in the first nine months of 2025, up from P10.4 billion in the same period a year earlier.
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The company attributed the increase to lot sales in the first half and sustained bookings in key locations, including the Makati central business district, Vertis North, and Arca South.
-
Shares in ALI were unchanged at P22.50 apiece on Thursday. — Alexandria Grace C. Magno
+
+ THE Department of Agriculture (DA) said the sugar industry is lobbying for curbs on artificial sweeteners because they are crowding out domestically produced sugar from the market.
+
“We have received a manifesto asking the government to regulate the import and use of artificial sweeteners and other sugar substitutes. (We) will surely work on this, as this is an extraneous force affecting the demand for locally produced sugar,” Agriculture Secretary Francisco P. Tiu Laurel, Jr. was quoted as saying in a statement.
+
The DA said a policy framework was initiated together with the Sugar Regulatory Administration (SRA) to closely monitor imports of sugar substitutes and to better understand their impact on the market.
+
SRA Administrator Pablo Luis S. Azcona has flagged a sharp rise in imports of artificial sweeteners and sugar substitutes, which he said are equivalent to more than 500,000 metric tons of raw sugar.
+
He said these substitutes have diluted demand for domestically produced sugar and contributed to weak prices.
+
Mr. Laurel has said the Department of Health may also be asked to review the public health implications of widespread use of intense sweetening agents. — Vonn Andrei E. Villamiel
OVER 90 young designers showed off their work at Sinulid, the graduation fashion show of De La Salle-College of Saint Benilde’s (DLS-CSB) Fashion Design and Merchandising (FDM) students. A lot of the standout collections took inspiration from their roots, showing how their past might influence their future in fashion (and if they someday make it big, ours).
+
The show, held at the PNB Financial Center in Pasay, was themed “Awanggan,” an archaic Filipino term for “infinity.” The show was divided into three parts: Takipsilim (twilight), Hating-Gabi (midnight), and Bukang Liwayway (dawn).
+
There are two collections that we felt really stood out: Elmar Pascua’s Kabsat and Shagami Felizco’s Walang Tamad sa Quezon.
+
Kabsat, the Ilocano word for sibling, showed massive white dresses on the runway: expertly draped and gathered to create billowing silhouettes. One gown had a hood lined with native woven material; another had a collar made of native woven fans. The lookbook says that it drew inspiration from traditional weddings from the province, and uses vintage inabel sourced from his mother’s siblings. The billowing techniques are inspired by table skirting techniques used at these provincial weddings.
+
In Walang Tamad sa Quezon (Nobody’s Lazy in Quezon), we saw a giant basket used as body armor over a gown, and a large, beaded, ruff-style collar with beads hanging around it, reminiscent of Quezon’s Pahiyas Festival. The last dress in this collection showed a trailing train made out of woven banig (grass-woven mat). The collection pays tribute to Quezon’s forgotten hand-beading tradition, as seen in the ruff and a terno beaded with wood.
+
We also liked Joaquin Rubio’s Paparazzi, Press, and Power, a commentary on celebrity culture. A red and black tuxedo, reminiscent of Yves Saint Laurent’s Le Smoking, was covered in strips of film, while a dress was made using velvet ropes used to separate fans from stars. The final outfit was a newsprint catsuit. “It’s a reminder that chasing fame comes at a price. Some learn to play the game, while others get played,” said Mr. Rubio.
+
Jennica Aquino took on a dark theme as well, with a collection called Eyes on Me, an exploration of facial dysmorphia. Hand-beaded faces and beaded eyes covered a cocktail dress, while distorted faces were painted on a more drab outfit.
+
Ecce Homosexual by Justin Hernandez explores his relationship with religion as influenced by his gender. “Ecce Homosexual, I unwaveringly declare, inspecting the scars of a gay kid admonished by a religion he wished to embrace. The language of couture documents the unexplored limbo that exists between Catholicism and homosexuality,” he said in the lookbook. The collection, with white drapery, and a flesh-toned dress (that looks like a distortion of the Crucified Christ) takes on the appearance of unfinished Greek marbles.
+
Efflorescent Dreams by Alliyah Camporendo uses fabric to create living flowers, such as in a sculpted dress covered in fake petals, wrapping around its wearer’s head.
+
Finally, we were amused by Chloe Uy’s Flowing Within — she manipulated fabric to appear like water (a spinning applique was a bonus).
+
Ionica Abrahan-Lim, program chair of the Benilde Fashion Design and Merchandising program, said in an interview that part of their strengths as a fashion program include their textile manipulation lessons (“We don’t just ask our students to buy retail”) and their facilities. They’ve been using software that allows students to create patterns and place them on an avatar to predict what their clothes would look like, bypassing several stages of manual testing. Also, after graduation, they allow their graduates to come back and use the facilities to create. “They can go back to school and develop their ideas and new concepts. The mentoring is still there.”
+
She also noted the collaborative nature of their design courses: “When we’re doing the curriculum, it’s not just fashion design,” she said. “In the end, you will see that mix of architecture, or interior, or industrial design.” — Joseph L. Garcia
The Denza logo sits on the grille of the B5 SUV. Curiously, it looks like a stylized tie, perhaps to reflect the more upmarket qualities of its vehicles. — PHOTO BY KAP MACEDA AGUILA
BYD and Denza officials pose with dealer partners: From left are: Denza Alabang and Cebu General Manager Jun Cajayon; Denza Makati Harmony New Energy Auto Service (Philippines) Ltd. Corp. Country Manager Fred Guowang; ACMobility Premium Dealerships, Inc. President Dana Unson; ACMobility President and CEO Jaime Alfonso Zobel de Ayala; BYD Philippines, BYD Singapore, and BYD Brunei Managing Director James Ng; BYD Asia-Pacific Auto Sales Division General Manager Liu Xueliang; BYD and Denza Philippines Country Head Adam Hu; Denza Greenhills Dealer Principals (E-Vantage Motors, Inc.) Roger Chiu, Jessica Sy, Cesar Wee, and Walter “Wally” Alvarez. — PHOTO BY KAP MACEDA AGUILA
Denza Makati, operated by Harmony New Energy Auto Service (Philippines) Ltd. Corp., is on Chino Roces Avenue. Browsers can already preview vehicles and put down a reservation fee. — PHOTO BY KAP MACEDA AGUILA
@@ -976,6 +1177,9 @@ The decades-long learning crisis will have lasting implications for the country
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@@ -984,414 +1188,399 @@ The decades-long learning crisis will have lasting implications for the country
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Go to Asia’s biggest dog show
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THE Philippine Circuit Dog Show 2026 is ongoing at the Smart Araneta Coliseum until Jan. 26. Now in its 12th year, it is headlined by the 2026 Fédération Cynologique Internationale (FCI) World Grooming Competition, which highlights the skills and artistry in dog grooming. Dogs and their handlers from around the world showcase creative styling, breed-specific cuts, and technical expertise. Alongside this contest, there will be 12 All-Breed Championship Dog Shows, mediated by renowned international judges to ensure fair and healthy competition. There are 7,440 entries representing 91 breeds.
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Listen to some jazz
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THE year 2026 marks the 70th anniversary of the establishment of diplomatic relations between Japan and the Philippines. To formally launch this landmark year, The Japan Foundation, Manila will present Harmony of Friendship: A Jazz Prelude to 70 Years of Japan-Philippine Ties. The concert series is headlined by the Tokyo-Manila Jazz & Arts Festival Group led by Filipino jazz vocalist Charito. They will be joined by the Philippines’ AMP Big Band, an organization of professional session musicians. On Jan. 22 at the Carlos P. Romulo Auditorium, RCBC Plaza, Makati City, the concert tour continues, free and open to the public, while a jazz workshop at De La Salle University-Dasmariñas will be organized by Lasallian Pop Band, with registration required through the organization. A third by-invitation-only concert will be held in Cebu.
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Watch CAST’s staged readings
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CAST PH’s (The Company of Actors in Streamlined Theatre) is once again presenting its annual staged readings. The theme of this year’s season (its 6th) is “RE-ORIENT — Narratives from Asian Voices.” As has been done every year during the CAST PH Staged Reading Series, the titles of the plays are not revealed beforehand. The season takes place over the course of four weeks (every Sunday), and Play #3 on Jan. 25, will be directed by Guelan Varela-Luarca. It will star Jenny Jamora, Zoë De Ocampo, Jam Binay, Frances Makil-Ignacio, Dolly de Leon, and Roselyn Perez, with stage directions to be read by Monty Uy. The season ends on Feb. 1 with Play #4 which will be directed by Caisa Borromeo. It will feature Jillian Ita-as, Kakki Teodoro, George Schulze, Yanah Laurel, Alfredo Reyes, and Miren Alvarez-Fabregas. There are only 100 seats per performance, priced at P500 each. For tickets, visit https://tinyurl.com/vrdfrfwm. All performances will be held at The Mirror Theatre Studios, 5th floor, SJG Center, Kalayaan Ave., Makati City. Performances are at 3 and 8 p.m.
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Try out new fitness experiences at GH Mall
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GH MALL at San Juan’s Greenhills Shopping Center, balances the overindulgence of the Christmas season by going healthy in January and offering a lineup of sports and wellness activities. There is the Table Tennis Academy, running until Jan. 31 at the 4F Tech Hub. Mallgoers can also play pickleball at the 5th floor until Jan. 31. The “Motion in Glow” Zumba sessions at the 6F roof deck run every Monday from 5 to 7 p.m. “Step & Groove” dance sessions occur in the same location and at the same time on Wednesdays, while yoga is available on Fridays.
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Do not sing along with Les Miz
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THAT is the plea of GMG Productions which has brought Les Misérables: World Tour Spectacular, a reimagined staged concert production of the iconic musical, to the Philippines. “Let the cast tell the story,” it exhorts. That castincludesFilipinos: Lea Salonga and Red Concepcion as the Thenardiers, Rachelle Ann Go as Fantine, and Emily Bautista as Eponine. The expanded concert-like format features a new design and production enhanced with new set and lighting designs, bringing Cameron Mackintosh’s critically acclaimed production to life on a scale never seen before in Manila, with a company and crew of over 110, including an international all-star cast and a large ensemble of musicians. Les Misérables runs at the Theater at Solaire, Solaire Resort & Casino, Entertainment City, Aseana Ave., Parañaque from Jan. 20 to March 1, with no extensions possible. As of now, all 48 shows are sold out. But keep checking as you never know.
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Enjoy a bit of timely satire
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THE Corner Studio presents People v. Dela Cruz, a one-act satirical play that looks at online behavior by using the Philippines’ first-ever jury case as its frame. According to Theater Fans Manila, People v. Dela Cruz takes a country testing its new jury system and turns legal deliberation into a circus of ego, politics, prayer, hunger, and possibly Wi-Fi withdrawal. Written and directed by Eldrin Veloso, it stars Mark Aranal, Emlyn Olfindo-Santos, JP Basco, Althea Aruta, Pauline Arejola, Rain de Jesus, and Aaron Dioquino. The show has performances on Jan. 23, 7 p.m., and Jan. 24 at 3 and 7 p.m., The Corner Studio, J&T Building, 3894 Magsaysay Blvd., Santa Mesa, Manila. Tickets are priced at P800 and are available for purchase via Helixpay.
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Get nostalgic with Bagets the Musical
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BAGETS THE MUSICAL, a stage adaptation of the 1984 coming-of-age film Bagets, follows a group of high school friends navigating adolescence, family, friendship, and young love. This production by Newport World Resorts, The Philippine Star, and VIVA Communications, is directed by Maribel Legarda, with a book by J-mee Katanyag and music by Vince Lim. The five leads are played by Sam Shoaf, Milo Cruz, Noel Comia, Jr., Ethan David, and Andres Muhlach. They alternate with Jeff Moses, Migo Valid, Tomas Rodriguez, KD Estrada, and Mico Hendrix Chua. Also in the cast are Neomi Gonzales, Natasha Cabrera, Mayen Cadd, Ring Antonio, and Carla Guevara Laforteza. Bagets the Musical opens on Jan. 23 andruns until March at the Newport Performing Arts Theater, Pasay City. Tickets, ranging in price from P1,000 to P4,000, are now available at the Newport World Resorts Box Office and via TicketWorld.
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Glimpse artifacts of Philippine devotion at NCCA
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THE National Commission for Culture and the Arts (NCCA) has opened the Balaang Bata exhibit, which explores the enduring Filipino devotion to the Santo Niño. On view at the NCCA Gallery in Intramuros, Manila, it features a diverse selection of Santo Niño images and sculptures from across the country, bringing together treasured works from private collections that reflect centuries of personal faith, artistry, and cultural tradition surrounding the Holy Child. Many of the pieces on display are more than a century old, carved from various types of wood and shaped by everyday devotion passed down through generations. The exhibit is open to the public.
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Watch chimpanzee thriller Primate in cinemas
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PRACTICAL EFFECTS in the new movie Primate, helmed by filmmaker Johannes Roberts,bring the character of Ben the chimpanzee to life. Billed as a shocking, bone-chilling tale, it follows a group of teens who are terrorized when their pet chimp suddenly turns on them. It combines visceral terror with old-school, in-camera special effects. Primate is now showing in cinemas nationwide.
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Listen to Charlie Puth’s new single
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AWARD-WINNING artist, producer, musician and songwriter Charlie Puth has released his latest single, “Beat Yourself Up,” from his forthcoming studio album Whatever’s Clever!, which will be out in March. Co-produced by Mr. Puth and BLOODPOP, the track is personal and explorative, accompanied by an official music video directed by Hunter Moreno. It is out now on all digital music streaming platforms.
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Watch Abbott Elementary, 9-1-1: Nashville on Disney+
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THIS JANUARY, several acclaimed and long-running titles are streaming new episodes on Disney+. One of these is crime-dramedy series High Potential, starring Kaitlin Olson as extraordinary and eccentric Morgan Gillory, a cleaning lady for the Los Angeles Police Department recruited as an investigative consultant. Another is the returning 9-1-1 and its newest spinoff, 9-1-1: Nashville, updating the drama franchise that follows different first responders in their day jobs. There’s also the critically acclaimed mockumentary Abbott Elementary, created by and starring Quinta Brunson, centered on a group of dedicated, underfunded teachers in a fictional public school in Philadelphia.
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Listen to Cavetown’s new album
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CAVETOWN, the moniker of UK-born artist Robin Skinner, has released his new album, Running With Scissors, via Futures Music Group. The record is emotionally expansive and aims to capture the disorienting threshold between youth and adulthood, braided together sonically through hyper-pop, heavy guitars, and dream-pop sounds. Alongside the album is the lead single and music video for “Cryptid,” which explores Skinner’s experience as a transgender person. The album is out now on digital music streaming platforms.
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With Denza, BYD goes back to the well for more
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By Kap Maceda Aguila
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IT’S ALWAYS a good idea to go back to the proverbial well, particularly if it has proven to be a giving one. That’s exactly what Chinese automotive juggernaut BYD hopes to do – stepping up its business in the Philippines with the introduction of its luxury auto marque Denza, set for a public debut on February 27.
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Obviously buoyed by its sterling year-round sales performance in 2025 (to the tune of 26,122 units) – allowing the ACMobility-distributed new energy vehicle (NEV) specialist to leapfrog to third place in overall auto sales in the country – BYD is now once again stepping up to the plate. This time, it’s taking aim at the premium segment.
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Denza was born as a joint venture with Daimler AG when it was first introduced in May 2010. BYD eventually took increasing control of the brand, fully owning it by September 2024. In the same year, Denza began the exportation and selling of its cars overseas. Notably, vehicles of other premium BYD brands Yangwang and Fangchengbao are rebranded into Denza for this purpose.
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In a prepared statement, BYD Asia-Pacific Auto Sales Division General Manager Liu Xueliang noted, “Across (the region), we’ve seen strong momentum for Denza as more markets embrace premium new energy vehicles. That experience gives us confidence in the Philippines, where consumers are increasingly sophisticated and (are) ready to engage with a brand that combines intelligent technology with refined design and comfort.”
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BYD and Denza recently held a formal recognition ceremony of its initial dealer partners at the the soon-to-fully-open Denza Makati on Chino Roces Avenue. Speaking through a translator, Mr. Xueliang shared, “Many people ask me why the EV industry has been growing so fast in the Philippines.” The executive maintained that in the Southeast Asian region, no one could have predicted the speed by which the Philippines has begun to adopt electrified mobility. That’s why Denza’s entry as a “premium, high-tech,” and electrified auto brand makes sense to BYD leadership.
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“The Philippine market is advancing rapidly and is ready for a new expression of premium. Our responsibility as brand leaders is to introduce Denza in a way that reflects local expectations while staying true to its global standards,” joined BYD Philippines Country Head Adam Hu, who now double-hats as Denza Philippines country head as well.
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He added, “We hope that more Filipino consumers will understand, know, and love BYD as a brand. Since its founding, Denza has focused on maturing… sustainability in the new energy vehicle sector. To meet the diverse needs of the Philippine market, we have a full range of the product lineup covering MPVs, SUVs, sedans, and sports cars… high-end new energy vehicle (NEV) solutions for every scenario with differentiated positioning.”
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For its debut, Denza Philippines has three initial partners in ACMobility (through ACMobility Premium Dealership, Inc.), operating Denza Alabang and Denza Cebu; Harmony New Energy Auto Service (Philippines) Ltd. Corp. for Denza Makati; and E-Vantage for Denza Greenhills.
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If you’ve been paying attention, ACMobility, the local exclusive distributor of BYD in the Philippines, is not going to add Denza to the portfolio of brands it directly handles. This time, BYD itself, through BYD Philippines, has a direct hand in both importation and distribution.
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Asked by this writer on the timing of Denza’s entry, BYD Singapore, Philippines, and Brunei Managing Director James Ng said that they believe the success of BYD here is a “very strong foundation (upon which) to introduce Denza,” and that company leadership is counting on the strong reputation BYD already has for its technology and innovation.
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Addressing our question on how they expect to challenge the premium legacy brands already here, Mr. Xueliang said, “We’re not here to compete.” What they want is for Filipinos to experience a diversified product NEV lineup from the mass to premium markets through both BYD and Denza. “The best tech must be enjoyed by more people. This is why we’re bringing in so many vehicles to the Philippines… (Through Denza) we want to make the luxury market enjoy and feel our NEVs.”
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There’s an opportunity, he continued, in the luxury segment because there are relatively fewer NEV solutions there – something that Denza can capitalize on. “(Additionally), we aim to break the traditional luxury car (mold),” added the executive.
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Mr. Hu later announced the “key models” slated for initial release. The Denza D9 is positioned as a “benchmark household and commercial MPV that balances comfort and practicality.” Two SUVs will also be sold, the Denza B5 and B8, “for consumers who pursue outdoor adventures, fun and high-end quality… (combining) strong off-road performance with luxurious intent.”
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While Denza Philippines hasn’t given the official indicative pricing on these forthcoming releases, we obtained the following from a well-placed source: The D9 is expected to be priced at around P4.5 million, the B5 at P3.8 million, and the B8 at P5 million and P5.4 million for its two variants.
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+ https://www.bworldonline.com/wp-content/uploads/2026/02/VELO_page2_denza-300x200.jpg
- PLDT, Smart deploy technology to improve connectivity in remote areas
- https://www.bworldonline.com/corporate/2026/01/23/725967/pldt-smart-deploy-technology-to-improve-connectivity-in-remote-areas/
+ ERC looks into Solar Para Sa Bayan amid questions on permits and fees
+ https://www.bworldonline.com/corporate/2026/02/02/727766/erc-looks-into-solar-para-sa-bayan-amid-questions-on-permits-and-fees/
- Thu, 22 Jan 2026 16:05:21 +0000
+ Sun, 01 Feb 2026 16:02:45 +0000
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- https://www.bworldonline.com/?p=725967
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+ https://www.bworldonline.com/?p=727766
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- PLDT INC. and its wireless unit Smart Communications, Inc. have deployed new technologies to enhance internet connectivity in remote and geographically isolated and disadvantaged areas (GIDAs).
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“By working hand-in-hand with our partners in government, we believe we can roll out a stronger, more resilient network faster and more efficiently,” PLDT Chief Operating Officer Menardo G. Jimenez, Jr. said in a media release on Thursday.
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The Pangilinan-led telecommunications company said connecting underserved communities requires multiple solutions to ensure faster and more reliable internet services.
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To reach GIDAs, PLDT said it will continue investing in network infrastructure and innovative technologies, while also strengthening partnerships with government agencies and industry stakeholders.
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“PLDT’s investments in innovating to enhance its network are aligned with the Group’s broader thrust to deliver improved services to customers nationwide. It also supports PLDT and Smart’s commitment to national development through strategic partnerships that expand digital access and enhance the delivery of essential services,” the company added.
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On Thursday, PLDT shares rose P26, or 1.95%, to close at P1,360 apiece.
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Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose
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+ THE Energy Regulatory Commission (ERC) has launched an investigation into Solar Para Sa Bayan Corp. (SPSB), a social enterprise founded by businessman-turned-politician Leandro L. Leviste, over allegations of unauthorized operations and collecting fees without approval.
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In a statement on Saturday, the ERC said it had issued show-cause orders to SPSB to clarify concerns stemming from consumer complaints and reports that the company has been operating in Paluan, Occidental Mindoro, and other off-grid areas without securing the necessary regulatory approvals.
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The permits include an authority to operate and certificates of compliance for its generation facilities.
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SPSB was granted a 25-year congressional franchise in 2019, allowing it to construct, install, and operate distributed energy resources and microgrids in remote and unviable areas.
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However, the ERC said that the franchise law itself requires SPSB to comply with applicable regulatory approvals, particularly concerning the rates it will charge its customers.
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ERC Chairperson and Chief Executive Officer Francis Saturnino C. Juan said that charging electricity rates without regulatory approval is a “mortal sin” for a regulated entity.
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He added: “Adhering to both ERC regulations and franchise conditions is essential when operating and charging consumers as a regulated entity.”
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Mr. Leviste has yet to respond to BusinessWorld’s request for comment.
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In a radio interview last month, Mr. Leviste said that SPSB’s franchise had been “ipso facto revoked” since the company ceased operations in 2022.
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He cited government red tape and regulatory hurdles as the reasons the company did not launch its planned projects.
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However, Mr. Juan said the alleged violations still warrant investigation.
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“Despite reports suggesting that SPSB has already ceased operations, the seriousness of the violation still justifies an investigation, as any penalties that may be imposed can still be enforced against SPSB and its assets,” he said.
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The ERC added that it would ensure due process is observed when evaluating explanations and submissions from the parties involved. — Sheldeen Joy Talavera
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- An ongoing journey towards modernized transport
- https://www.bworldonline.com/special-features/2026/01/23/725838/an-ongoing-journey-towards-modernized-transport/
+ Our moralistic paradigm of development
+ https://www.bworldonline.com/opinion/2026/02/02/727715/our-moralistic-paradigm-of-development/
- Thu, 22 Jan 2026 16:05:06 +0000
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- https://www.bworldonline.com/?p=725838
+ Sun, 01 Feb 2026 16:02:24 +0000
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+ https://www.bworldonline.com/?p=727715
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- Transportation may very well be the very engine that keeps any economy running. The sector, after all, is responsible for connecting producers to resources and consumers, creating jobs in the making of roads and in the driving of vehicles, boosting productivity by lowering costs, and fostering overall growth by moving goods, services, and people efficiently.
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Dealing with the difficult task of making lives easier for millions of Filipino motorists and commuters, the Department of Transportation (DoTr) is the government entity in charge of promoting, developing, and regulating a dependable and coordinated network of transportation systems, as well as providing fast, safe, efficient, and reliable transportation services.
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Established under the Malolos Constitution on Jan. 21, 1899, the agency, then called the Communicaciones y Obras Publicas, was given the role of accelerating the country’s economic development through the creation of effective and efficient transportation infrastructure systems.
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After 80 years of regulating transportation activities in the country, the Ministry of Transportation and Communication (MoTC) was created pursuant to Executive Order No. 546 with the task of regulating a dependable and coordinated network of transportation and communication systems in the country. Eight years later, the MoTC converted to the Department of Transportation and Communications (DoTC) through Executive Order No. 125.
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With the signing of Republic Act No. 10844 in 2016, the communications portfolio from the DoTC was removed following the creation of the Department of Information and Communications Technology (DICT). Hence, the department’s current name.
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Expanded capacity
-Artist’s render of Siargao Airport, one of the Philippine airports currently undergoing improvements — Photo from facebook.com/DOTrPH
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This year, the agency is marking its 127th year in service of Filipinos, remaining committed to providing comfortable, accessible, safe, sustainable, and affordable transportation for Filipinos.
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As the department reflects on more than a century of service and modernizing Philippine transport, it is equally important to highlight the agency’s recent achievements that show its lasting impact on the lives of Filipinos.
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For rail transport, the DoTr has consistently maintained its standard in what may be the country’s busiest transport systems: the Metro Rail Transit Line 3 (MRT-3), the Light Rail Transit Line 1 (LRT-1), and Light Rail Transit Line 2 (LRT-2). Last year, both the MRT-3 and LRT-2 lines observed an increase in ridership, with the former recording a total of 141,626,536 passengers in 2025, higher than the 135,885,336 commuters served in 2024, and the latter tallying a total of 58,754,981 passengers served in last year compared to around 50.7 million total passengers the year before.
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Over the past few years, the country’s rail system has seen improvements led by the DoTr. The most important of which is the completion of Phase 1 of the LRT-1 Cavite extension project, which opened up five new stations spanning from Pasay City to Sucat, Parañaque City. Additionally, the agency partnered up with the finance superapp GCash last year to enable commuters to pay for their fares in the MRT-3 railway line through cashless methods.
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The department has also carried out road decongestion works to remedy the capital region’s notorious traffic problem. One of the most visible successes in this area is the EDSA Busway, which has drastically reduced travel times along the capital’s busiest road by dedicating a lane exclusively for buses. This system has not only made commuting more predictable for thousands but has also served as a model for “people-centric” infrastructure that prioritizes high-capacity public transport over private vehicles.
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Simultaneously, the Public Transport Modernization Program (PTMP) continues its phased implementation across the country. The project aims to replace aging, high-emission jeepneys and buses with safer, Euro-4-compliant modern public utility vehicles. In recent budget hearings, the increase in subsidy for cooperatives by the said program has been discussed to rise from P260,000 in 2025 to P400,000 in 2026.
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In aviation, the agency has worked tirelessly to shed what is globally perceived as a legacy of congestion and inefficiency. The most significant move in this direction is the landmark privatization and rehabilitation of the Ninoy Aquino International Airport (NAIA) via a public-private partnership. Since the turnover to the San Miguel-led New NAIA Infra Corp. (NNIC), the gateway has seen improvement in terminal efficiency, upgraded baggage handling systems, and improved facilities, all aimed at restoring the airport’s reputation and elevating the passenger experience.
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Similar to the rehabilitation efforts at NAIA, modernization efforts of the Tuguegarao, Bacon, Loakan, Daet, Cauayan, Vigan, and Candon airports are taking place, according to the DoTr. Catbalogan, Dumaguete, Kabankalan, Calbayog, Zamboanga, Mati, M’lang, Jolo, Siargao, and Tandag airports in Visayas and Mindanao will also undergo improvements.
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Maritime travel improvements have also been made in various ports in the country. An example of this is the Amandayehan Port in Basey, Samar. Improvements made on the port include increasing its service capacity, with six landing craft tank (LCT) vessels, as well as addressing the alleged “palakasan” (patronage) system and illegal collection of fees raised by port users.
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Last year, the Philippine Ports Authority, under the DoTr, said that it allocated as much as P1.42 billion for the expansion and improvement of three ports in the country, including the third phase of the Malalag Port expansion project in Davao del Sur; Lipata Port improvement project in Surigao del Norte; and Buenavista Port expansion project in Guimaras.
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Sustainable transport
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Aside from these achievements in different areas of transportation, the DoTr has also begun on projects that seek to make Philippine transport more convenient, inclusive, and sustainable.
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Part of this is the transportation department’s recently launched Active Transport Project, aimed at promoting healthier and more sustainable modes of transport. Under the program, pedestrians and non-motorized vehicles are prioritized in the hierarchy of road users, with the DoTr mandated to focus on the development of active transport infrastructure. The project is pegged to establish 2,400 kilometers of protected and dedicated lanes for cyclists by 2028.
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Topping off the agency’s lengthy list of accomplishments, the Transportation department, together with the DICT, launched the DICT Free WiFi for All program along EDSA Busway Stations, which will provide internet connection to over 183,000 passengers daily. Based on data from the department, the EDSA busway ridership jumped by 6% from 63.02 million in 2024 to 66.67 million last year.
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Projects in the pipeline for the agency include the highly anticipated Metro Manila Subway Project (MMSP), often referred to as the “Project of the Century.” Complementing this is the North-South Commuter Railway (NSCR) system, a massive 147-kilometer rail network that will link Clark in Pampanga to Calamba in Laguna. The agency is also making significant strides in regional rail development through the PNR South Long Haul project, popularly known as the “Bicol Express.”
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The department is also looking into the development of more Intermodal Terminal Exchanges (ITX) to provide commuters with seamless transfers between different modes of transport, similar to the operations of the Parañaque Integrated Terminal Exchange (PITX).
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As the DoTr enters its 127th year, these ambitious projects signify its vision of a Philippines that is fully connected and economically vibrant. By blending the preservation of its historical mandate with the adoption of world-class technology and sustainable practices, the DoTr continues to drive the nation forward and ensure that the “engine” of the Philippine economy remains fueled for the generations of commuters yet to come. — Jomarc Angelo M. Corpuz
+
+ By Cesar Ilao III
+
THE ARREST of Bong Revilla this January was met with public celebration. After months of investigations into the flood control scandal, there was a palpable sense of relief: finally, someone — a “big fish” — had been caught. Memes circulated, and many took this as a sign of the wheel of justice spinning.
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This reaction is understandable. But it also reveals something deeper about how Filipinos talk about politics, and fundamentally, development.
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The most common way we do so is not economic, technological, institutional, or political. It is moral.
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When long-standing structural reforms are proposed, whether amending the economic provisions of the Constitution, reforming political parties, or improving the efficiency and transparency of laws and regulations, the pushback is familiar, both from prominent academics and politicians: “Hindi ’yan ang tunay na problema” (That is not the real problem).
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The real problem, we are told, is that Filipinos are morally deficient. If only leaders were honest. If only voters were wiser. If only citizens behaved better, we wouldn’t be in this mess.
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This moral diagnosis has been repeated so often to the point of being “common sense.” It is echoed in slogans that once dominated our politics: “daang matuwid,” “kung walang korap, walang mahirap”(“straight path,” “if there is no corruption, there is no poverty”).
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These phrases are rhetorically powerful because they frame development as a matter of virtue. Poverty persists because someone is corrupt. In this sense, our development discourse resembles religious evangelism, perhaps a legacy of our Catholic heritage. True to its Zoroastrian roots, such talk divides the world neatly into the “righteous” and the “wicked.”
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But what this paradigm consistently misses is a basic social science insight: corruption, like all other human behavior, does not occur in a vacuum. As institutional economist Douglass North famously notes, human behavior responds to incentives, constraints, and rules.
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The “rules of the game” — formal rules such as laws, constitutions, and regulations — gradually reshape behavior. Because politics and economics exist only through human interaction, they are sustained by the rules participants follow and reinforce.
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People do not act on values alone, nor are values otherworldly. They act according to what the rules reward and penalize. Over time, incentivized behavior hardens into habit, and habits pass for virtue or vice.
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Consider elections. The moralist sees voters who support the “wrong” candidate as “bobotante”* — misguided at best, immoral at worst. Case closed. But a systems thinker asks questions: What kind of political system and digital landscape produce personality-based voting?
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In a country without strong, programmatic parties, credible campaign finance enforcement, or a fast and reliable justice system, voters rationally gravitate toward name recall, patronage networks, and perceived access to power. Calling this a moral failure may feel cathartic, but it explains nothing. It solves nothing.
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And what of the economy? Many industries remain dominated by the same names and faces. Our instinctive response is moral condemnation, labeling them “evil” or “selfish” capitalists, instead of calling for laws that open markets to competition. We beg for subsidies from the same government we denounce as corrupt, inefficient, and incompetent, and then act surprised when it uses the same rigged system to steal. Does this not resemble a toxic relationship? One repeatedly hopes an abusive partner will change without taking steps to alter the underlying dynamic.
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While we spent the last four decades calling for moral renewal, our neighbors have been pushing technological and economic frontiers to their limits.
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Take China. As Yuen Yuen Ang shows in his book, China’s Gilded Age, its long boom occurred not because corruption disappeared, but because it evolved into forms that did not stifle investment and enterprise. Beijing’s high-profile anti-corruption campaigns have focused less on purifying the system than on disciplining its excesses, curbing the most destabilizing abuses while preserving the institutions that sustain economic integration and development.
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Vietnam, meanwhile, weathered one of Southeast Asia’s largest fraud scandals: the Vạn Thịnh Phát case, involving the embezzlement of about $12.4 billion, or roughly 3% of its GDP (by comparison, our own flood control scandal, at around $2 billion, appears modest). Yet the episode did not spell apocalypse. On the contrary, Vietnam still recorded growth of over 8% in 2025 and is now pursuing double-digit expansion through sustained investments in infrastructure, trade, and institutional reform.
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In Malaysia, the 1MDB scandal exposed the misappropriation of about $4.5 billion in public funds (still higher than our recent scandal) under former Prime Minister Najib Razak, who has since been sentenced to prison. The episode triggered renewed institutional reforms precisely because it revealed systemic weaknesses, not because Malaysians suddenly rediscovered virtue.
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The uncomfortable lesson for the moralist is that development often depends not on eliminating imperfections, but on preventing them from becoming fatal.
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These countries are not in denial about corruption (nor is this piece supportive of it). They simply refuse to treat it as the main cause of stagnation. Their economic and political institutions, though not a spotless lamb, are resilient enough to absorb scandals while continuing reforms. In contrast, the Philippines, with its fragile economy, weak industrial base, poor education system, and underperforming tourism sector, suffers finishing blows from corruption controversies, leaving little room for sustained progress. Unfortunately, we still refuse to accept that the EDSA Revolution, for all its good intentions, left behind legal and institutional legacies that have since become obstacles to reform.
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We see and experience these rules-based barriers daily. Our justice system allows cases to drag on for years, lowering the expected cost of wrongdoing. Our regulatory agencies are often slow and vulnerable to bribery because of unclear mandates and opaque processes. Meanwhile, we have a constitution that allows political leaders to run without adequate education, competence, or clear party-based advocacy. These are design failures. But thankfully, design solutions do not presuppose a Great Awakening. They are measurable, scalable, and actionable.
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Policy reforms are more feasible — and ultimately more effective — than “appeals to the heart.” Take the Konektadong Pinoy bill, for example. By loosening barriers to entry, it weakens the grip of a few dominant telecom players who have long controlled the price and quality of internet services.
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A moralistic critique would end by condemning these firms as selfish or evil. But a systems view recognizes that their dominance was enabled by the rules of the game. The steady decline in internet prices and improvements in service following liberalization show that rewriting the rules outperforms moral condemnation in solving real-world problems.
+
Why emphasize the distinction? Because our moral paradigm has produced a peculiar political outcome: a perpetual search for pure-hearted messiahs. For decades, we have waited for the incorruptible leader who will finally save the country. And once this rare figure leaves office after their three- or six-year term, the old order quickly reasserts itself. Each election turns into a moral crusade, with every disappointment only deepening cynicism.
+
It is hardly surprising that moralism also breeds helplessness among its followers. By framing politics as a cosmic battle between good and evil, it suggests that ordinary citizens can do little but wait, hope, or eventually leave (“wala nang pag-asa sa Pilipinas”).** It reduces policies into catchy slogans while flattening complex trade-offs into virtue tests. Moralism is emotionally satisfying but prone to despair when salvation fails to arrive.
+
A systems mindset is less glamorous. It is technical, incremental, and often counterintuitive. It does not promise heroes nor saints, nor an eschatological utopia. It assumes, as public choice theorists and the framers of the American Constitution did, that politicians are not angels. Like all of us, they have their interests. Effective rules and institutions are designed to manage these realities, not pray them away.
+
This mindset understands politics not as a morality play but as a continuous negotiation among competing interests. Its goal is modest but enduring: make doing good easier and doing bad harder. Align private incentives with public outcomes. Increase business competition, increase transparency, speed up enforcement, and strengthen feedback mechanisms.
+
Until we move beyond our moralistic paradigm of development, we will continue playing the waiting game. As the saying goes: “If we wait until we are ready [in our case, our leaders to be ‘renewed within’], we will be waiting for the rest of our lives.”
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* Bobotante — A portmanteau of “bobo” or “stupid” and “botante” or “voter.”
+
**The Philippines is hopeless.
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Cesar Ilao III is a researcher and communications specialist for the Foundation for Economic Freedom (FEF). He is a lecturer at the University of the Philippines and was formerly a researcher at Monash University, Australia.
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- Sun Life Philippines looking to boost digitalization initiatives
- https://www.bworldonline.com/banking-finance/2026/01/23/725909/sun-life-philippines-looking-to-boost-digitalization-initiatives/
+ Style (02/02/26)
+ https://www.bworldonline.com/arts-and-leisure/2026/02/02/727671/style-02-02-26/
- Thu, 22 Jan 2026 16:04:46 +0000
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+ Sun, 01 Feb 2026 16:02:22 +0000
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- https://www.bworldonline.com/?p=725909
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- SUN LIFE of Canada (Philippines), Inc. (Sun Life Philippines) will ramp up its technology investments to further expand its reach via online distribution platforms and create specialized products to cater to Filipinos’ varying insurance needs.
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“Tech is going to be one of my focus areas… I would like to leverage the digital savviness of Filipinos. The use of technology to make higher value transactions, it’s still not yet there, especially as insurance would be a higher value transaction. But I want to already be in that space where they think of Sun Life once they are ready to make a high-value transaction,” Sun Life Philippines President and incoming Chief Executive Officer (CEO) and Country Manager Jonathan Juan “JJ” D. Moreno told BusinessWorld on the sidelines of an event this month.
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“I want to be able to catch that wave because it’s going to be very difficult if that’s the only time I will build a platform once the market is ready for those kinds of things.”
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He said younger Filipinos who are digital natives are becoming increasingly aware of the importance of financial protection.
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“We’re seeing a trend. We’re seeing that more and more, there are younger cohorts, young professionals actually buying insurance, realizing that it’s an essential expense,” Mr. Moreno said.
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While these individuals usually do their research on insurance via digital platforms, they still prefer to consult with human financial advisors and transact in person when they want to avail of policies, he said.
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“Some do not want to be approached by an agent immediately. They’ll do their own research, they’ll do everything, they’ll use AI (artificial intelligence) to compare the products, and then when they’re ready, they call an agent.”
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They’ve seen the same trend among high-net-worth individuals, he said.
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Recognizing this consumer behavior, Mr. Moreno said insurers can boost their digital distribution by first offering simple, straightforward, and lower value products that are tailored for specific needs that clients would be confident to buy via online channels.
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For their part, Sun Life Philippines plans to launch products targeting employees and professionals, the high-net-worth segment, and business owners this year.
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“So, it would be correct to say that we will launch low-value products… The products we will be launching will be specifically tailored to address a particular segment.”
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He said there has been strong demand for traditional life insurance and variable unit-linked products among Filipinos.
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“After the previous year, there was a shift towards more traditional products in terms of product creation. That’s due to global headwinds, but it’s still just going down,” Mr. Moreno added.
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At end-September, Sun Life Philippines topped the life insurance sector with a premium income of P44.73 billion. — A.M.C. Sy
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- DENZA to launch first EV model in Philippines next month
- https://www.bworldonline.com/corporate/2026/01/23/725966/denza-to-launch-first-ev-model-in-philippines-next-month/
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- Thu, 22 Jan 2026 16:04:21 +0000
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- https://www.bworldonline.com/?p=725966
+
+ https://www.bworldonline.com/?p=727671
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- PREMIUM ELECTRIC VEHICLE (EV) brand DENZA, under the BYD Group, is set to launch its first model, the multi-purpose vehicle D9, in the Philippines on Feb. 27.
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“Many people have been asking me why we (BYD) have grown so fast here in the Philippines. Indeed, it is very fast,” BYD Asia Pacific Auto Sales Division General Manager Xueliang Liu said in Chinese at an event on Thursday.
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Asked about the brand’s local market presence, he said: “[If] you are asking about the Philippine figures, it would be over 26,000.”
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BYD Singapore, Philippines, and Brunei Managing Director James Ng said the company’s earlier success in introducing BYD vehicles locally helped motivate the DENZA launch.
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“In collaboration with ACMobility, we have successfully introduced BYD into the Philippine market and got reception from the public,” Mr. Ng said.
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“So, with that, this gives us a very strong motivation to introduce DENZA … it gives us very good strength to further push our DENZA brand.”
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Mr. Liu added that the company plans to introduce the other two models, the sports utility vehicles B8 and B5, later in 2026.
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On Thursday, DENZA also awarded its initial dealer partners, which will form the foundation of its retail network in the country.
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The brand partnered with ACMobility Premium Dealership, Inc. for DENZA Alabang and DENZA Cebu; with Harmony New Energy Auto Service (Philippines) Ltd. Corp. for DENZA Makati; and with E-Vantage Motors, Inc. for DENZA Greenhills.
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At the event, DENZA showcased all three models, though only the D9 will be available for launch next month. — Justine Irish D. Tabile
WITH the campaign “This Valentine’s, Keep It Fresh,” Lego is turning Valentine’s gifting into something hands-on and memorable. This month Lego introduces 2026 novelties that expand the collection beyond traditional bouquets: Lego Botanicals Daisies, Peace Lily, Tulip Bouquet, and the statement-making Flower Wall. Alongside these new sets, favorites like the Bouquet of Roses and Bouquet of Pink Roses offer a fresh take on traditional Valentine’s florals, while lighter arrangements such as the Bouquet of Pretty Pink Flowers, Flower Bouquet, and Wildflower Bouquet lend a softer, more contemporary feel. For those looking for a graphic, design-led twist, the collection also features Lego Art Love which doubles as a home accent. The Lego Group brings these blooms to life at the SM Mall of Asia Main Mall Atrium from Feb. 9 to 16. There will be immersive displays, hands-on builds, and Instagram-worthy setups. A weekend in-store caravan runs from Feb. 8 to March 1 at selected stores across Metro Manila. Shoppers can enjoy up to 25% off selected products. For more information, visit www.lego.comor follow official Lego stores online such as bankeebricks.ph, Lazada, and Shopee.
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+
Anko marks Love Month with gift ideas, workshops
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THIS LOVE MONTH, Australian home and lifestyle brand Anko is positioning itself as the one-stop shop for gifts to celebrate Valentine’s Day. Anko Club members can also join exclusive in-store workshops where they can create personalized keepsakes and handmade cards. Among the suggestions are items to celebrate the occasion at home (from glasses to tablecloths, to vases for flowers), to gifts (think trinket bowls and boxes for rings, keys, and everyday accessories). There are mugs for coffee lovers, pans and trays for loved ones who cook, and much more including things to treat yourself with. Meanwhile, keep the kids busy with the Anko Club’s Valentine’s Card Making Workshop, offered every weekend this February (2-5 p.m.), at Anko’s Glorietta, TriNoma, Ayala Malls Manila Bay, and Ayala Malls Feliz branches. Anko Club members can also join an exclusive Galentine’s Workshop at Anko TriNoma on Feb. 14 at 4 p.m., featuring a Make Your Own Galentine’s Card activity in collaboration with the Weekend Watercolor Circle, plus a special Arrange Your Own Bouquet session. Anko Club members who shop at Anko Trinoma that day between 2-5 p.m. and spend a minimum of P500 can enjoy free candle calligraphy to personalize their favorite Anko candles. To join these workshops, download the Anko app and sign up for the Anko Club at anko.com/anko-club.
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+ https://www.bworldonline.com/wp-content/uploads/2026/02/1-LEGO-lego.com_-300x200.jpg
- Missing the point — and falling further behind
- https://www.bworldonline.com/opinion/2026/01/23/725896/missing-the-point-and-falling-further-behind/
+ Debt yields go down on weak GDP data
+ https://www.bworldonline.com/banking-finance/2026/02/02/727697/debt-yields-go-down-on-weak-gdp-data/
- Thu, 22 Jan 2026 16:03:56 +0000
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- https://www.bworldonline.com/?p=725896
+ Sun, 01 Feb 2026 16:02:03 +0000
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+ https://www.bworldonline.com/?p=727697
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- In our “In Brief” for New York-based GlobalSource Partners last Monday, and in my interview with Cathy Yang on Money Talks that same day, we addressed a simple but consequential question: Are the Marcos Jr. administration’s responses to deteriorating business sentiment truly game-changing, or do they merely move the needle?
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The decline in sentiment among business and civil society is not cyclical noise. It reflects a hard judgment: the state has failed to curb corruption and enforce good governance. Without restoring integrity in public institutions, public resources will continue to be siphoned away from infrastructure, innovation, sound economic planning, public health, and education. Without good governance, there can be no durable growth.
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Against this backdrop, government officials announced a slate of “big, bold reforms.” The issue is not whether these reforms are well intentioned. The issue is whether they represent a break from the past — or simply another iteration of familiar promises.
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Several agencies outlined commitments. Tourism, Agriculture, and Agrarian Reform pledged modernization initiatives. The Department of Trade and Industry, Board of Investments, and Department of Information and Communications Technology committed to attracting high-impact investments and accelerating digital transformation. Regulatory agencies — the Securities and Exchange Commission, Food and Drug Administration, the Philippine Competition Commission, and the Department of Environment and Natural Resources — promised to streamline procedures and reduce bottlenecks.
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We readily acknowledge that engagement with the private sector is necessary. Signaling reform intent and addressing the high cost of doing business, much of it driven by regulatory inefficiency, are overdue. Streamlining processes and cutting red tape are welcome steps. They should, however, have been done on day one of every administration over the past two decades. We are now into the last two and a half years of President Ferdinand Marcos, Jr.’s term.
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Yet these initiatives are not sufficient. They miss the core of the problem.
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As one broadsheet captured succinctly: “Corruption puts investors on edge.” The deeper issue can be summarized as TEA: weak transparency, selective enforcement and execution, and uncertain accountability. These deficits corrode trust far more severely than administrative delays. When corruption is systemic, public funds are diverted away from research and development, innovation, and productivity-enhancing infrastructure. The consequence is slower growth, weaker efficiency, and fading regional relevance.
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Specific examples underscore the point. How does restoring P4.32 billion to the CARS (Comprehensive Automotive Resurgence Strategy) Program reverse decades of manufacturing hollowing? How does visa-free entry for Chinese nationals boost tourism and investment when signage is inadequate, connectivity is weak, and destinations are poorly maintained? How does IMF-compliant debt reporting restrain a growing bias toward borrowing rather than fiscal consolidation? How does digitizing Bureau of Internal Revenue audits prevent abuse of Letters of Authority when discretion remains entrenched in enforcement? In each case, the reform is procedural; the problem is institutional.
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A wry comparison in social media illustrates the gap between reform as rhetoric and reform as rupture:
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• Vietnam: “We will reduce provinces from 63 to 34 and cut 30% of party commissions and ministries — making the state leaner and easier to coordinate.”
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• Philippines: “We will eliminate visas for Chinese tourists and create a National Single Window for Imports.”
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Both are reforms. Only one fundamentally alters how power, accountability, and coordination operate.
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This distinction helps explain why, despite respectable GDP growth, often ranking second only to Vietnam for 2025 and perhaps for 2026 as well, many Filipinos feel no corresponding improvement in their lives. Inflation may be contained, but absolute prices remain beyond household capacity. Jobs exist, but many are insecure and poorly paid. The economy appears stable, but it lacks the resilience to absorb future shocks.
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The proposed reforms will not overturn a consumption-led growth model fueled by remittances and Business Process Outsourcing receipts. The Philippines has a weak industrial base, a fragmented, if not absent, industrial policy, limited processing of raw materials, feeble exports, Asia’s highest power costs, chronic port congestion, and unpredictable investment rules — problems flagged repeatedly by multilateral institutions, with little sustained follow-through.
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Indonesia and Vietnam stand in sharp contrast. Private consumption accounts for less than 60% of GDP in both countries, compared with over 70% in the Philippines. Gross investment consistently exceeds 30% of GDP in Indonesia and Vietnam, versus roughly 23% in the Philippines. Indonesia anchors growth on resource-based manufacturing; Vietnam on export manufacturing. Investor trust reflects this reality: Tesla suppliers and Hyundai invest in Indonesia; Samsung, Apple, Intel, and Lego operate at scale in Vietnam. Their industrial zones, logistics, and incentives are coherent, predictable, and credible.
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In short, the Philippines grows by spending more; Indonesia and Vietnam grow by making more.
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This brings us to what game-changing reform actually looks like. For that, Canadian Prime Minister Mark Carney’s Davos speech is instructive.
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Carney offered an unvarnished diagnosis: we are witnessing “the rupture of the world order” — the end of comforting narratives and the emergence of a brutal reality in which great-power geopolitics is no longer constrained. Territorial pressure over Greenland, regime-change intervention in Venezuela without a clear multilateral mandate, and the weaponization of tariffs against allies, including Canada, all signal that the old rules no longer hold.
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The appropriate response, Carney argued, cannot be superficial. Middle powers must decide whether to retreat behind walls or act with ambition. His prescription was both principled and pragmatic: anchored on sovereignty, territorial integrity, the prohibition of force, and respect for human rights — while recognizing that interests diverge and progress is often incremental.
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Crucially, Canada acted. It dismantled federal barriers to interprovincial trade. It fast-tracked nearly a trillion dollars in investment in energy, AI, critical minerals, and new trade corridors. It committed to doubling defense spending with domestic industrial linkages. It rapidly diversified trade partnerships and asserted sovereignty in Ukraine, the Arctic, and NATO — marking a decisive departure from automatic reliance on the United States. These were not slogans; they were structural breaks.
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By contrast, the Philippine response remains tangential. The crisis is a collapse of public trust in the state’s capacity to enforce rules and punish wrongdoing. Yet the policy response centers on process streamlining and visa facilitation. What about the rule of law, or justice, or overhauling the election law, or banning political dynasties?
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President Marcos’ “Mahiya naman kayo!”* moment in last year’s State of the Nation Address nearly crossed into game-changing territory. It named corruption at an unprecedented scale. But without sustained enforcement, institutional backing, and visible consequences, it remained rhetorical.
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Which brings us back to “big, bold reforms.” Too many echo recommendations repeated for more than a decade by international financial institutions: better planning, improved budgeting, technical assistance, revenue mobilization. Necessary, yes — but not transformative.
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Carney’s invocation of Václav Havel’s greengrocer is apt. Everyone displays the slogan — “Workers of the world, unite!” — even though no one believes it. The system endures not through coercion, but through participation in rituals known to be untrue. Havel called this living within a lie.
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For policymakers, the implication is stark. Game-changing reform is not about announcing familiar fixes with louder adjectives. It is about visibly breaking with practices that hollow out the state: enforcing accountability without exception, dismantling rent-seeking structures, committing to an industrial strategy that survives political cycles, and building institutions that work even when personalities change.
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Until reform shifts from ritual to rupture, from intent to enforcement, the Philippines will continue to grow on paper while falling behind in reality. And if we continue to post slogans we no longer believe, we should not be surprised when Indonesia and Vietnam pull decisively — and permanently — ahead.
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*“For shame.”
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Diwa C. Guinigundo is the former deputy governor for the Monetary and Economics Sector, the Bangko Sentral ng Pilipinas (BSP). He served the BSP for 41 years. In 2001-2003, he was alternate executive director at the International Monetary Fund in Washington, DC. He is the senior pastor of the Fullness of Christ International Ministries in Mandaluyong.
+
+ YIELDS on government securities (GS) traded in the secondary market declined last week as below-target Philippine gross domestic product (GDP) growth last year raises the odds of further easing by the Bangko Sentral ng Pilipinas (BSP).
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GS yields, which move opposite to prices, went down by 7.14 basis points (bps) on average week on week, based on PHP Bloomberg Valuation Service Reference Rates data as of Jan. 30 published on the Philippine Dealing System’s website.
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At the short end of the curve, yields on the 91-, 182-, and 364-day Treasury bills (T-bills) dropped by 8.38 bps, 6.34 bps and 5 bps week on week to 4.6826%, 4.7725% and 4.8412%, respectively.
+
Similarly, at the belly, rates fell across all tenors. Yields on the two-, three-, four-, five-, and seven-year Treasury bonds (T-bonds) went down by 11.04 bps (to 5.1883%), 11.78 bps (5.3796%), 12.06 bps (5.5283%), 11.05 bps (5.6551%), and 8.19 bps (5.8549%), respectively.
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At the long end, yields ended mixed. The rates of the 20- and 25-year debt papers went up by 1.31 bps (to 6.5127%) and 1.61 bps (6.5117%), respectively, while the 10-year bond went down by 7.67 bps to fetch 5.9868%.
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GS volume traded on Friday reached P118.3 billion, higher than the P102.98 billion recorded a week earlier.
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Yields declined almost across the board as weaker-than-expected Philippine GDP growth bolstered expectations of a BSP rate cut this month, a bond trader said in an e-mail.
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“Local bond movements were mainly driven by the weaker GDP print, which signaled a sharper loss of growth momentum than expected. Markets took this as increasing the likelihood that the BSP may need to provide policy support sooner, leading to a rally in bonds, with yields declining and the front end outperforming,” Lodevico M. Ulpo, Jr., vice-president and head of Fixed Income Strategies at ATRAM Trust Corp., said in an e-mail.
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“The weak growth data has shifted market focus toward downside economic risks, reinforcing expectations that domestic monetary policy could become more supportive. This creates a continued downward bias in local rates, especially for shorter tenors that are more sensitive to policy expectations.”
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Philippine GDP expanded by 3% year on year in the fourth quarter, slowing from 5.3% in the same quarter in 2024 and the revised 3.9% print in the third quarter of 2025.
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In 2025, the economy grew by 4.4%, much weaker than the 5.7% print in 2024. This was the weakest pace in five years or when GDP contracted by 9.5% in 2020. Excluding the pandemic, it was the slowest growth since the 3.9% expansion in 2011.
+
This was also below the government’s 5.5%-6.5% target and was weaker than market expectations, as a BusinessWorld poll yielded a median estimate of 4.2% for the October-to-December period and 4.8% for 2025.
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Analysts said the disappointing GDP outturn gives the BSP room to lower rates further to help prop up domestic demand to spur economic recovery.
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BSP Governor Eli M. Remolona, Jr. said before the GDP data release that the Monetary Board would consider the economy’s performance when they meet to review their policy settings on Feb. 19, but a weak growth print wouldn’t automatically mean further easing.
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The central bank has cut benchmark borrowing costs by a cumulative 200 bps since it began its easing cycle in August 2024, with the policy rate now at 4.5%.
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Mr. Ulpo added that the US Federal Reserve’s decision to pause its own easing cycle last week and “still firm tone” partially offset the yield rally, particularly at the long end.
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“However, the Fed’s cautious stance suggests that global easing may be gradual, which could temper the pace of yield declines locally. Longer-dated bonds may remain more influenced by global rate movements than domestic factors,” he said.
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Last week, the Fed held rates steady after lowering its benchmark rate to 3.5%-3.75% last year, Reuters reported. Interest rate futures markets stuck with anticipating two rate cuts in 2026, with the likely next reduction in June, after the new chair takes over.
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For this week, the market’s focus will be on the release of January Philippine inflation data on Thursday (Feb. 5), as this could affect the BSP’s policy decision this month, the bond trader said.
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“Philippine inflation remains key, as it determines how much room the BSP has to ease. A stable inflation backdrop would reinforce the growth-driven case for lower yields,” Mr. Ulpo added.
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He said GS yields could also be affected by this week’s T-bond offering. On Tuesday, the Treasury will auction off P30 billion in reissued seven-year bonds with a remaining life of four years and 11 months.
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“Attention will be on the five-year bond auction, which will test demand in the belly of the curve and could influence near-term yield movements depending on the strength of participation.” — Abigail Marie P. Yraola
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- Infrastructure meets inclusion: Redefining commuter experiences in 2025
- https://www.bworldonline.com/special-features/2026/01/23/725847/infrastructure-meets-inclusion-redefining-commuter-experiences-in-2025/
+ Rice retail price down, meat up in mid-January
+ https://www.bworldonline.com/agribusiness/2026/02/02/727707/rice-retail-price-down-meat-up-in-mid-january/
- Thu, 22 Jan 2026 16:03:36 +0000
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- https://www.bworldonline.com/?p=725847
+ Sun, 01 Feb 2026 16:02:01 +0000
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+ https://www.bworldonline.com/?p=727707
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- The Philippines has consistently ranked among the countries with the world’s most congested urban corridors. In 2023, Metro Manila recorded some of the highest travel times globally: motorists averaged 25 minutes to cover just 10 kilometers, with over 117 hours lost annually stuck in slow-moving traffic.
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Recognizing the scale of the problem, the Department of Transportation (DoTr) has been repositioning mobility as a strategic economic enabler rather than a purely operational concern.
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In 2025, the DoTr undertook a series of interconnected initiatives to improve commuter experiences and strengthen active transport infrastructure nationwide. These efforts reflect evolving policies: sustainable urban mobility, inclusive infrastructure, digital transformation, and integrated land use that incorporates green spaces into transport corridors.
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The department’s recent initiatives signal a shift away from fragmented interventions toward an integrated transport strategy that addresses infrastructure gaps, operational inefficiencies, and commuter experience simultaneously.
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Institutionalizing accessibility and inclusion
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One of the most notable shifts in the DoTr’s strategy has been its move toward participatory planning. At the Philippine Mobility Summit 2025, the department unveiled plans to institutionalize an Accessibility and Inclusion Reference Group (AIRG) — a consultative body comprising of commuters from underrepresented communities, including persons with disabilities (PWDs), senior citizens, women, caregivers, and others with lived experience of mobility challenges.
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The AIRG is intended to assist technical teams and policy makers in co-designing transport frameworks, feasibility studies, and infrastructure designs that better reflect everyday commuter requirements.
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This marks a departure from traditional top-down infrastructure planning toward a model that incorporates user insight at every stage, a step toward both accessibility and inclusion in public transport system development.
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Cycling and pedestrian infrastructure
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Active transport, consisting of cycling and walking, continued to be a central theme of the DoTr’s strategy. Under the national Active Transport and Safe Pathways Program, more kilometers of bike lanes are being added, linking residential areas with employment centers, transport terminals, schools, and green spaces.
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The agency plans to build at least 260 kilometers of new bike lanes, advancing toward a long-term target of 2,400 kilometers by 2028.
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Pedestrian infrastructure remains a priority in parallel with cycling enhancements. Walkways are being constructed and upgraded nationwide to ensure safer and more accessible pedestrian routes, in alignment with the National Transport Policy (NTP) and the Philippine Development Plan (PDP) 2023-2028, which place non-motorized transport at the top of road-user hierarchy.
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Institutional strengthening
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To ensure that large-scale transportation projects deliver tangible improvements for commuters, the DoTr established a Flagship Project Management Office (FPMO).
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Designed to accelerate implementation of high-impact infrastructure programs, the FPMO centralizes oversight of major initiatives such as the Metro Manila Subway Project, North-South Commuter Railway, the EDSA Busway, the EDSA Greenways Project, as well as modernized address programs such as the Cebu Bus Rapid Transit and the Davao Public Transport Modernization Project. These flagship projects aim to ease congestion, cut travel times, and expand intermodal connectivity across the Greater Manila area and key regional hubs.
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By having senior officials directly monitoring milestones, budget execution, and right-of-way acquisition, the FPMO aims to reduce bureaucratic delays and thus improve service delivery for daily commuters.
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Green spaces and integrated mobility corridors
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Operationalizing the synergy between transport and urban green spaces is emerging as a complementary priority.
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The DoTr’s transport vision also recognizes the role of green infrastructure in shaping healthier cities. By integrating green spaces into active transport corridors, the agency aims to enhance street-level environments for pedestrians and cyclists while supporting environmental goals such as heat mitigation and urban biodiversity.
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Former Transport Secretary Vivencio “Vince” B. Dizon emphasized that mobility projects should not only move people efficiently but also improve the quality of urban environments by incorporating landscaped corridors, shading vegetation, and pedestrian-oriented green areas.
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These integrative approaches align with broader goals to make transport corridors more resilient and environmentally friendly, anchoring mobility improvements within healthier, more livable city frameworks where active commuters can enjoy greener surroundings as they travel.
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During the National Bike Day last year, officials of the department reiterated commitments to expanding bicycle and pedestrian lanes while underscoring that cyclists and walkers should not be marginalized on roads.
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This safety emphasis complements the broader active transport agenda by ensuring non-motorized users are recognized as legitimate road participants deserving dedicated space and protective infrastructure.
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As the DoTr’s recent initiatives unfold, the integration of inclusive planning, active transport expansion, flagship project management, and green space integration represents a multi-pronged approach to modernizing mobility in the Philippines.
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Digitalizing fare payments
-A digital payment system on MRT-3 allows commuters to pay using mobile wallets, QR codes, or contactless bank cards. — Photo from facebook.com/DOTrPH
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Beyond physical infrastructure, the DoTr is also focusing on digital innovation and service quality improvements designed to make public transport more convenient and user-friendly.
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One initiative is the digital transformation of fare payment systems across rail and bus networks. In mid-2025, the DoTr partnered with the Bangko Sentral ng Pilipinas (BSP), Department of Information and Communications (DICT), and GCash to pilot an open-loop, digital payment system on MRT-3. This allows commuters to pay using mobile wallets, QR codes, or contactless bank cards, eliminating queues at ticket booths. The pilot is intended to be expanded to other rail and bus systems.
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Busway upgrades and commuter amenities
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The DoTr continues to improve EDSA Busway with targeted station upgrades and rehabilitation projects. In 2025, the department pursued renovations of key busway stations such as Monumento, Bagong Barrio, North Avenue, and Guadalupe.
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The DoTr is also developing plans to turn over the busway’s operations and management to the private sector through a public-private partnership (PPP), intended to harness private expertise and capital to sustain and modernize the service while preserving dedicated lanes for high-capacity buses.
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In response to ongoing infrastructure works, the DoTr has also deployed additional buses to bolster capacity and reduce congestion for commuters during rehabilitation periods.
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Commuter-centric governance
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To ensure that decision-makers remain grounded in commuter realities, the DoTr issued a directive requiring agency officials to commute weekly using public transport.
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This policy, championed by Acting Secretary Giovanni Z. Lopez, aims to expose senior staff to firsthand commuter experiences so that policies and projects are informed by actual system conditions and pain points.
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Officials are expected to document their journeys and identify operational issues, creating a feedback loop between experience and institutional planning.
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These developments signal a shift toward transport systems that are more accessible, safer, environmentally sound, and attuned to the needs of everyday commuters.
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The challenge ahead will be scaling these initiatives across urban and regional contexts, monitoring impact on commuter behavior, and ensuring that infrastructure investments tangibly improve daily travel experiences.
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With coordinated execution and sustained public engagement, these initiatives offer a promising blueprint for a more mobile, connected, and inclusive Philippines. — Krystal Anjela H. Gamboa
+
+ THE retail price of rice declined year on year in mid-January, while meat and galunggong (round scad) prices increased, according to the Philippine Statistics Authority (PSA).
+
During the Jan. 15-17 period, which the PSA calls the second phase of January, the national average retail price of regular milled rice declined 9.56% year on year to P43.52 per kilo.
+
The second-phase price was higher than the P43.13-per-kilo average during the first phase of January (Jan. 1-5) and the P42.10 average a month earlier.
+
The highest average retail price of regular-milled rice in the second phase was recorded in the Bangsamoro Autonomous Region in Muslim Mindanao at P50.06 per kilo, down 0.72% from a year earlier.
+
The lowest retail price of regular milled rice was reported in the Cagayan Valley at P36.70 per kilo, down 13.5% from a year earlier.
+
Meanwhile, the retail price of bone-in fresh pork averaged P314.04 per kilo in the second phase of January, up 1.5% from a year earlier. The national average declined from the P315.44 per kilo recorded in the first phase of January and P314.72 a month earlier.
+
The retail price of dressed chicken averaged P213.35 per kilo in the second phase of January, up 1% from a year earlier. The average retail price for the period was lower than the P213.72 per kilo recorded during the first phase of January, but higher than the P212.40 a month earlier.
+
Galunggong prices rose 11.32% year on year to P251.35 per kilo in the second phase of January. The average price of the staple fish declined from P252.75 in the first phase of January and increased from P249.11 a month earlier. — Vonn Andrei E. Vilamiel
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- https://www.bworldonline.com/wp-content/uploads/2026/01/SF_R1-1-OL-300x200.jpg
+ https://www.bworldonline.com/wp-content/uploads/2024/04/rice-store-worker-300x200.jpg
- Zepz buys remittance provider Pomelo to strengthen presence in the Philippines
- https://www.bworldonline.com/banking-finance/2026/01/23/725833/zepz-buys-remittance-provider-pomelo-to-strengthen-presence-in-the-philippines/
+ New Geely PHEV to be unveiled in Q1
+ https://www.bworldonline.com/velocity/2026/02/02/727631/new-geely-phev-to-be-unveiled-in-q1/
- Thu, 22 Jan 2026 16:03:26 +0000
-
-
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- https://www.bworldonline.com/?p=725833
+ Sun, 01 Feb 2026 16:01:51 +0000
+
+
+
+ https://www.bworldonline.com/?p=727631
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- GLOBAL PAYMENTS group Zepz, which owns WorldRemit and Sendwave, has acquired a US-based financial technology (fintech) company providing credit-based remittance services as it looks to strengthen its presence in the Philippines.
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Zepz said in a statement on Jan. 20 that it has acquired Pomelo International, Inc., whose product mainly caters to migrants in the US sending money to the Philippines and Mexico. The latter’s team will join Zepz to continue developing their product.
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Pomelo’s operations have been paused temporarily as Zepz integrates the product into its roadmap.
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“Pomelo is a San Francisco-based fintech company focused on cards, lending and credit-building, with a strong presence in the Philippines,” it said. “The acquisition represents a key step in Zepz’s evolution beyond remittances, enabling the company to support more of the financial lives of cross-border communities and underserved customers across the Global South.”
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“The acquisition further strengthens Zepz’s position in the Philippines, one of its core markets, where it has deep local knowledge and a long-standing customer base. Combining Pomelo’s product and expertise with Zepz’s global platform creates meaningful synergies for customers and supports Zepz’s long-term growth strategy by deepening engagement, improving retention and broadening its revenue mix beyond money movement.”
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The company said the move will complement their existing products and businesses and allow them to expand into cards, lending, and credit, as Pomelo’s platform integrates consumer credit and remittances with a credit card designed for money transfers.
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Using the Pomelo Mastercard or any debit card via its app, customers in the US can transfer money real-time to Philippine-based bank accounts or e-wallets as low costs while earning rewards points.
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“Acquiring Pomelo is a natural next step in our evolution beyond remittances,” said Zepz Chief Executive Officer Mark Lenhard. “It will allow us to offer customers access to cards and credit services, and supports our broader ambition of financial empowerment for cross-border communities.”
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“This is an exciting next chapter for Pomelo, and our mission to help people build their financial future doing what matters most — helping families. Zepz shares our focus on serving cross-border communities and has tremendous potential to accelerate access to credit and everyday financial tools for people who have historically been underserved,” Pomelo CEO Eric Velasquez Frenkiel said.
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More Filipinos abroad have been using digital channels to remit money to save on transaction costs.
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Cash remittances coursed through banks rose by 3.6% to $2.91 billion in November from $2.808 billion in the same month in 2024, the latest Bangko Sentral ng Pilipinas data showed.
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For the first 11 months of 2025, money sent home by migrant Filipinos reached $32.111 billion, climbing by 3.2% from $31.113 billion during the same period in 2024.
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The US was the top source of remittances in the period, accounting for 40% of inflows. — BVR
Geely Motor Philippines said it will continue to espouse a diversified electrification strategy across its global lineup — PHOTO FROM GEELY MOTOR PHILIPPINES
GEELY IS slated to introduce here a plug-in hybrid electric vehicle (PHEV) – known internally as EX5 EM-I –within the first quarter of the year as the company continues to grow its electrified lineup.
+
The EX5 EM-I has recently been spotted in camouflage at local ports and customs areas, signaling that units have already entered the country ahead of its official reveal. The EX5 EM-I is positioned as balancing electric driving capability with extended range flexibility. In global markets, the model is reported to feature a combination of electric-only driving for daily commutes and a hybrid system suited for longer trips, addressing common concerns around charging access and range limitations.
+
“This positioning places the EX5 EM-I in direct consideration alongside other PHEVs currently competing in the compact-to-midsize, electrified segment, where buyers are increasingly looking for alternatives that offer both fuel efficiency and adaptability to unpredictable driving conditions,” said Geely Motor Philippines in a release, and maintained that, compared to pure electric vehicles, PHEVs like the EX5 EM-I are often favored in dense urban environments such as Metro Manila, where traffic, flooding, detours, and varied daily routes make charging-dependent mobility less predictable.
+
Geely is taking a “diversified electrification strategy” across its global lineup, combining battery-electric, plug-in hybrid, and internal combustion powertrains to meet different market needs. According to the company, this multi-path approach allows it to introduce products that align more closely with real-world usage rather than relying on a single electrification solution.
+
The Philippine introduction of the EX5 EM-I is expected to be part of Geely’s broader product roadmap following its transition to direct local operations. The company has indicated that additional new models across various segments and powertrain types are in the pipeline as it continues to strengthen its presence in the country.
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- https://www.bworldonline.com/wp-content/uploads/2026/01/Zepz-Logos-Partnership-Pulse-HQ-Connect-4-300x169.jpg
+ https://www.bworldonline.com/wp-content/uploads/2026/02/VELO_BRANDNEW_IMAGE1-300x225.jpg
- SEC launches online registry to simplify corporate ownership reporting
- https://www.bworldonline.com/corporate/2026/01/23/725965/sec-launches-online-registry-to-simplify-corporate-ownership-reporting/
+ Manila office tenants favor flexible, cost-efficient spaces — Colliers
+ https://www.bworldonline.com/corporate/2026/02/02/727765/manila-office-tenants-favor-flexible-cost-efficient-spaces-colliers/
- Thu, 22 Jan 2026 16:03:20 +0000
+ Sun, 01 Feb 2026 16:01:45 +0000
-
- https://www.bworldonline.com/?p=725965
+
+ https://www.bworldonline.com/?p=727765
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- THE SECURITIES and Exchange Commission (SEC) on Thursday launched the Hierarchical and Applicable Relations and Beneficial Ownership Registry (HARBOR), a web-based platform aimed at making disclosures of corporate ownership faster and more transparent.
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“Beneficial ownership disclosures are a key transparency reform that supports good governance and helps prevent the misuse of corporate structures for illicit activities,” SEC Chairperson Francisco Ed. Lim said.
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“Through HARBOR, the SEC streamlines the filing process while strengthening BO data management, enabling the Commission to provide timely and meaningful support to partner agencies in lawful enforcement actions,” he added.
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Starting Jan. 30, corporations required to submit beneficial ownership information must use HARBOR, accessible at https://harbor.sec.gov.ph or via the Electronic Filing and Submission Tool (eFAST).
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The system allows secure submission and updates of beneficial ownership data, reducing manual processing and helping the SEC verify information more efficiently.
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With HARBOR’s launch, the SEC also released the 2026 General Information Sheet (GIS) without the beneficial ownership page. Companies will now submit or update ownership information directly through HARBOR and revalidate it only if changes occur, such as new owners being added.
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Beneficial owners are individuals who ultimately own or control a corporation, either directly or indirectly. Filers need an active Electronic SEC Universal Registration Environment (eSECURE) account to access the system. Only authorized eFAST filers may submit declarations.
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HARBOR was created under Memorandum Circular No. 15, Series of 2025, which updates Beneficial Ownership Disclosure Rules. The registry also supports the Philippines’ commitments under the Financial Action Task Force (FATF) to maintain transparency and prevent money laundering.
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“These reforms build on earlier beneficial ownership and transparency measures that supported the Philippines’ exit from the FATF grey list in February 2025 and demonstrate the Commission’s continuing commitment to sustain AML/CFT improvements and keep the country off the grey list,” the SEC said. — Alexandria Grace C. Magno
+
+ METRO MANILA’S office developers are being urged to focus on flexible and cost-efficient office spaces as more multinational firms shift to hybrid work, according to property consultancy Colliers Philippines.
+
“Occupiers are increasingly focused on capital preservation, balance sheet flexibility, and reduced execution and delivery risk. As a result, operating expenditure (opex)-led workspace solutions where costs are spread predictably over time are gaining traction,” Melissa Mabanta, assistant manager for office service — landlord representation at Colliers, said in a report.
+
She noted that multinational companies are moving toward Grades A and B+ offices that prioritize flexibility, faster move-ins, and cost predictability, as firms’ planning cycles have shortened to between six and 18 months.
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Colliers added that the rise of hybrid work has pushed occupiers to favor ready-to-occupy and built-to-suit offices.
+
“As the Philippine office market matures, value is increasingly defined not just by location or rental rates, but by speed to market, operational readiness, and risk mitigation,” Ms. Mabanta said.
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Previously, office occupiers invested in longer lease terms and fit-outs, information technology infrastructure, and project management. In central business districts, fit-out costs typically range from P45,000 to P70,000 per square meter (sq.m.), Colliers said.
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It also noted that challenges in traditional office leasing, such as design, permitting, procurement, and construction delays, have become a “major friction point” for occupiers.
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“While Metro Manila vacancy rates remain elevated compared to pre-pandemic levels, leasing inquiries are increasingly driven by quality, readiness, and flexibility rather than sheer size,” Colliers said.
+
In the first nine months of 2025, Metro Manila’s office vacancy stood at 19.8%, Colliers said in its Third-Quarter Property Market Report.
+
Office vacancy in the region is projected to rise slightly to 19.9% in 2026, before declining steadily to 19.2% in 2028, the consultancy added.
+
In Metro Manila, traditional occupiers transacted an average of 830 sq.m. of space, while third-party operators and government tenants occupy about 1,500 sq.m., equivalent to roughly a whole floor. Shared services sector tenants occupy larger spaces of around 3,000 sq.m., or about two or more floors. — Beatriz Marie D. Cruz
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- https://www.bworldonline.com/wp-content/uploads/2026/01/coworkers-discussing-statistics-300x200.jpg
+ https://www.bworldonline.com/wp-content/uploads/2024/10/Workplace-Employees-1-300x200.jpg
- The economics of nuclear power
- https://www.bworldonline.com/opinion/2026/01/23/725895/the-economics-of-nuclear-power/
+ Hypertension: Why prevention and early treatment save lives
+ https://www.bworldonline.com/opinion/2026/02/02/727714/hypertension-why-prevention-and-early-treatment-save-lives/
- Thu, 22 Jan 2026 16:02:55 +0000
-
+ Sun, 01 Feb 2026 16:01:23 +0000
+
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- https://www.bworldonline.com/?p=725895
+
+
+ https://www.bworldonline.com/?p=727714
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- By Dianne Araral
-
THE Philippine government has been laying the legal, institutional, safety, and diplomatic groundwork for nuclear energy. This matters because the heavy reliance on imported fuels leaves electricity prices exposed to global commodity shocks. Coal accounts for around 60% of electricity generation, natural gas roughly 15-20%, and renewables — including hydro, geothermal, wind, and solar — about 20%. Demand continues to rise and large-scale renewables face intermittency, grid land constraints, and recently contract cancellations. Energy security is a precarious problem for the Philippines despite the recent Malampaya discovery.
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In 2020, the president Rodrigo Duterte signed Executive Order (EO) No. 116, directing the development of a national position on nuclear energy, and EO No. 164 instructing the Department of Energy (DoE) to integrate nuclear power into the Philippine Energy Plan. Recently, President Ferdinand Marcos, Jr., signed the Philippine National Nuclear Energy Safety Act (PNNESA), creating an independent nuclear safety regulator. The Philippines has also secured US approval for the export of nuclear technology, including small modular reactors (SMRs), following the entry into force of a civil nuclear cooperation agreement.
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These are all good. The next question now is whether nuclear energy can be deployed safely, affordably, and within the country’s fiscal constraints. This is where nuclear economics becomes decisive.
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SMALLER REACTORS, NOT SMALLER RISKS
-SMRs are typically defined as nuclear units below 300 megawatts. Their appeal is clear for an archipelagic country with uneven grid capacity: smaller units, potential modular construction, and the promise of faster builds.
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The cost numbers are sobering. Current global estimates place SMR capital costs at roughly $4,000 to over $8,000 per kilowatt, depending on design, location, and financing terms. A single 300-MW SMR can therefore cost $1.2 billion to $2.4 billion before financing. These are first-of-a-kind costs. The price reductions often cited by proponents depend on serial production and repeat builds; they do not appear on the first unit.
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Financing magnifies the challenge. Nuclear projects have long construction periods, and interest during construction can add hundreds of millions of dollars if schedules slip. Delays matter far more for nuclear than for gas or renewables because the capital base is large and revenues arrive late.
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SMRs may be smaller than traditional reactors, but their economic risks are not proportionally smaller — especially for a first-time nuclear country.
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Comparisons with other generation options make this clear. New coal plants typically produce electricity in the range of $70 to $200 per megawatt-hour, depending on fuel prices and environmental controls. Gas combined-cycle plants often fall in the $45 to $75 per megawatt-hour range but are highly exposed to fuel and foreign-exchange volatility. Utility-scale solar and wind are cheaper on paper, often below $70 per megawatt-hour, but require storage, backup, and grid upgrades to deliver reliable power. By contrast, SMRs span a wide range: optimistic projections for mature designs suggest costs competitive with gas and coal, while conservative assessments of first-of-a-kind projects place SMR costs well above those benchmarks once financing and delay risks are included. How nuclear is financed matters as much as the technology itself.
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TECHNOLOGY RISK MEETS FISCAL REALITY
-Most SMR designs remain early in commercial deployment. Some have cleared regulatory milestones in advanced economies; many have not. None has a long operating record without substantial public support. Investors therefore price multiple uncertainties at once: construction timelines, licensing outcomes, supply chains, fuel services, waste management, and decommissioning.
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For government, these risks collide with fiscal reality. The Philippines operates with limited fiscal space. Debt servicing already absorbs a significant share of the national budget, while competing priorities — transport, health, education, disaster resilience, and climate adaptation — remain pressing. Any nuclear program that relies on poorly structured guarantees or implicit bailouts risks becoming a long-term fiscal burden.
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This is why nuclear economics must drive design choices. If risks are misallocated at the outset, they do not disappear; they reappear later as tariff shocks, contract renegotiations, or quiet fiscal transfers.
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WHY PPPS ARE TEMPTING — AND DANGEROUS IF MISUSED
-Given these constraints, it is natural to look to Public-Private Partnerships (PPPs). The Philippines has used PPPs successfully for airports, expressways, and conventional power generation. The instinct is understandable: mobilize private capital, reduce fiscal pressure, and shift risk away from the state.
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Nuclear breaks this logic.
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Some nuclear risks cannot be transferred at any price voters will accept. Licensing risk is binary. Catastrophic tail risk is politically non-diversifiable. Long construction timelines make financing extremely sensitive to delay. When governments try to push these risks fully onto private investors, lenders demand high returns. Those returns surface as higher electricity prices, larger guarantees, or both.
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International experience is consistent: fully private nuclear projects either do not get built, or they are built at prices that become politically untenable.
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This does not mean PPPs are inappropriate. It means they must be designed around a basic truth: in nuclear energy, the state is the risk bearer of last resort, whether explicitly or implicitly.
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LESSONS FROM ABROAD
-International experience reinforces this point.
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The United Arab Emirates (UAE) delivered its Barakah nuclear plant through a sovereign-anchored model, combining public finance with an experienced foreign vendor. Financing costs were kept low, and execution was relatively disciplined. The lesson is not to copy the UAE, but to recognize that first nuclear projects succeed when the state anchors risk and imports capability.
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The United Kingdom illustrates the opposite hazard. Its private-led nuclear project, supported by long-term price guarantees, reached financial close but at high cost to consumers. Delays and overruns reinforced a basic lesson: shifting risk to private capital does not eliminate risk; it prices it into electricity bills.
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France shows the advantages and limits of a state-led approach. Financing costs were low and standardization delivered efficiencies, but contingent liabilities ultimately rested with the state and consumers. China’s rapid nuclear expansion further underscores the same point: relatively low costs were achieved through state-owned enterprises, state banks, and serial construction — a model not transferable to the Philippine political economy.
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The United States shows both sides of the ledger. Federal loan guarantees and regulated utility models enabled projects to proceed, yet major overruns demonstrate that finance cannot compensate for weak execution and governance.
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Across these cases, one pattern stands out. Countries that treated early nuclear projects as publicly anchored learning investments managed risk better than those that tried to offload uncertainty onto private balance sheets from the start.
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WHAT THIS MEANS FOR THE PHILIPPINES
-For an initial SMR deployment, the government will inevitably bear a large share of risk — explicitly or implicitly. The honest approach is to recognize this upfront.
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PPP structures where private partners are paid for delivering and operating a licensed, available plant — rather than betting on volatile power prices — are more realistic for a first project. They lower financing costs, protect consumers from excessive risk premiums, and give government tighter control over siting, safety, and emergency preparedness.
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This does not exclude the private sector. Private firms still design, build, finance, and operate the plant. They are paid for performance. What changes is that non-diversifiable risks — first-of-a-kind uncertainty, regulatory tail risk, catastrophic risk — are not quietly pushed into tariffs or hidden guarantees.
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As experience accumulates, uncertainty falls. Regulators gain hands-on capability. Construction benchmarks become clearer. Supply chains stabilize. At that point, more risk can be shifted to private investors through long-term contracts or hybrid arrangements without pushing prices to unsustainable levels.
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Only after domestic capability is proven should more private, industrial, or merchant-style models even be considered. Industrial SMRs require creditworthy anchor customers willing to commit for decades. They do not eliminate first-of-a-kind risk; they merely repackage it.
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In short, nuclear SMRs in the Philippines should be treated as strategic infrastructure, not merchant power.
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+ Hypertension may be silent, but its consequences are not. Early detection and timely treatment can prevent heart attacks, strokes, and kidney failure.
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As the country observes Philippine Heart Month, it bears repeating that high blood pressure or hypertension is the single most important risk factor for heart disease and stroke, two of the leading causes of death among Filipinos. Often called the “silent killer,” hypertension typically has no symptoms, yet its consequences can be devastating. Left undetected and uncontrolled, it can lead to heart failure, kidney disease or kidney failure, vision loss, and erectile dysfunction, among other complications.
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Hypertension develops due to a mix of non-modifiable and modifiable risk factors. These include family history and advancing age, as well as physical inactivity, an unhealthy diet, overweight or obesity, smoking, and chronic kidney disease. Because many of these risks are preventable or manageable, hypertension is not just a medical condition, it is a public health issue that demands early action.
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The scale of the problem is sobering. The most recent Philippine Heart Association survey, PRESYON-4, found that nearly four in 10 Filipinos (37%) have hypertension. Alarmingly, only about half (52%) were aware they had the condition. Among those diagnosed, 22% were smokers, 37% were overweight, and 5% had diabetes. Even more concerning, six out of 10 hypertensive respondents who were already taking maintenance medications still had uncontrolled blood pressure, placing them at continued risk for heart attack and stroke.
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Hypertension is diagnosed by measuring blood pressure on two or more separate occasions in a clinic or hospital setting. Normal blood pressure is below 120/80 mm Hg. The 2020 Philippine Clinical Practice Guidelines of the Philippine Society of Hypertension define hypertension as a blood pressure reading of 140/90 mm Hg or higher, while readings between 120-139/80-99 were previously classified as “prehypertension” or borderline hypertension.
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Globally, however, there has been a shift toward earlier intervention. In August 2025, the American Heart Association and the American College of Cardiology released updated guidelines emphasizing prevention and earlier treatment to reduce long-term cardiovascular risk. Under these guidelines, blood pressure of 120-129/less than 80 is considered “elevated,” while readings of 130-139/80-89 are already classified as stage 1 hypertension. A blood pressure of 140/90 or higher is stage 2 hypertension, and readings of 180/120 or greater constitute a hypertensive crisis requiring urgent medical care.
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This shift underscores a critical message: waiting for blood pressure to reach very high levels before acting is no longer acceptable. Early lifestyle changes, and medication when appropriate, can prevent irreversible damage to the heart, brain, and kidneys.
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At the core of hypertension prevention and control is a heart-healthy lifestyle. Regular physical activity, a diet rich in fruits, vegetables, and whole grains, and limiting sodium and unhealthy fats are foundational steps. Maintaining a healthy weight is particularly important; for individuals who are overweight or obese, even a 5% reduction in body weight can significantly lower blood pressure. Avoiding smoking, limiting alcohol intake, getting seven to nine hours of quality sleep, and managing stress also play an important role.
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For many patients, dietary changes are especially powerful. The Philippine Society of Hypertension recommends the Dietary Approaches to Stop Hypertension (DASH) meal plan for individuals without kidney insufficiency. The DASH diet emphasizes fruits, vegetables, low-fat dairy, fish, whole grains, fiber, potassium, and other essential minerals, while limiting red and processed meat, sugar-sweetened foods and beverages, saturated fat, cholesterol, and sodium.
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Lifestyle measures are the first-line treatment for hypertension and work hand in hand with medications. Most people with hypertension will require maintenance medicines for life to keep their blood pressure under control and prevent complications. It is essential that patients take their medications exactly as prescribed and never stop treatment without consulting their doctor, even when they feel well.
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Home blood pressure monitoring is another important tool. The American Heart Association recommends that all individuals diagnosed with hypertension use an automatic, cuff-style, upper-arm blood pressure monitor at home. Accurate home readings help doctors determine whether treatments are working and guide medication adjustments. Patients should ensure the correct cuff size, avoid smoking, caffeine, or exercise 30 minutes before measurement, rest quietly for at least five minutes, and take readings at the same time each day. Recording and sharing these readings during medical appointments strengthens shared decision-making between patients and healthcare providers.
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Hypertension remains a major public health challenge in the Philippines but it is also one of the most preventable. The research-based pharmaceutical industry recognizes its central role in cardiovascular disease and is committed to expanding access to diagnostics, effective treatments, and patient education. Through the Pharmaceutical and Healthcare Association of the Philippines, member companies are supporting awareness campaigns, strengthening hypertension management, and working with stakeholders to reduce the country’s cardiovascular disease burden.
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Preventing and treating hypertension early saves lives. It is an investment in healthier families, a more productive workforce, and a stronger healthcare system, one blood pressure reading at a time.
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Dianne Araral is a green finance and energy policy researcher based in Singapore.
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- https://www.bworldonline.com/wp-content/uploads/2026/01/Engineer-working-at-a-nuclear-power-plant-300x168.jpg
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- Peso strengthens to two-week high as Trump retracts tariff threats
- https://www.bworldonline.com/banking-finance/2026/01/23/725906/peso-strengthens-to-two-week-high-as-trump-retracts-tariff-threats/
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- Thu, 22 Jan 2026 16:02:43 +0000
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- https://www.bworldonline.com/?p=725906
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- THE PESO rose to a two-week high against the dollar on Thursday on improving market sentiment after US President Donald J. Trump backed down on his earlier threats to impose tariffs on some European countries to get control of Greenland.
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The local unit ended at P59.16 versus the greenback, rising by 10.1 centavos from its P59.261 finish on Wednesday, data from the Bankers Association of the Philippines showed.
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This was its best close in over two weeks or since Jan. 5’s P59.13.
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The peso opened Thursday’s trading session stronger at P59.18 against the dollar. Its intraday best was at P59.095, while it dropped to a low of P59.23 against the greenback.
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Dollars traded rose to $1.367 billion from $1.557 billion on Wednesday.
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The peso strengthened against the dollar on Tuesday amid improved global risk appetite after US President Donald J. Trump retracted his threats of higher tariffs on European countries as he sought to buy Greenland, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.
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The US dollar held on to overnight gains against major peers on Thursday after Mr. Trump withdrew a threat to impose tariffs on a number of European North Atlantic Treaty Organization (NATO) nations, trumpeting the framework of a deal with NATO over control of Greenland, Reuters reported.
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Mr. Trump’s threat to levy tariffs on allied nations opposed to his ambition to control Greenland spooked markets and triggered a broad sell-off of US assets, but his comment in Davos on Wednesday that he had ruled out military action offered relief.
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The US president said he had reached a framework for a deal with NATO over Greenland, but he did not offer any details in a post to his Truth Social platform about what that would entail. As a result, though, he said he would not impose tariffs.
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President Ferdinand R. Marcos, Jr.’s statement on not wanting the peso to reach the P60 level also provided support to the currency, a trader said in a phone interview.
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Palace Press Officer Clarissa A. Castro said at a news briefing on Thursday that Mr. Marcos hopes that the peso-dollar exchange rate will not reach P60, but reiterated that the central bank sees no need for market intervention.
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For Friday, the trader sees the peso moving between P59 and P59.30 per dollar, while Mr. Ricafort expects it to range from P59.05 to P59.25. — A.M.C. Sy with Reuters
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Teodoro B. Padilla is the executive director of Pharmaceutical and Healthcare Association of the Philippines, which represents the biopharmaceutical medicines and vaccines industry in the country. Its members are at the forefront of developing, investing and delivering innovative medicines, vaccines, and diagnostics for Filipinos to live healthier and more productive lives.
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The department has also carried out road decongestion works to remedy the capital region’s notorious traffic problem. One of the most visible successes in this area is the EDSA Busway, which has drastically reduced travel times along the capital’s busiest road by dedicating a lane exclusively for buses. This system has not only made commuting more predictable for thousands but has also served as a model for “people-centric” infrastructure that prioritizes high-capacity public transport over private vehicles.
Aside from these achievements in different areas of transportation, the DoTr has also begun on projects that seek to make Philippine transport more convenient, inclusive, and sustainable.
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