diff --git "a/raw_rss_feeds/https___www_bworldonline_com_feed_.xml" "b/raw_rss_feeds/https___www_bworldonline_com_feed_.xml" --- "a/raw_rss_feeds/https___www_bworldonline_com_feed_.xml" +++ "b/raw_rss_feeds/https___www_bworldonline_com_feed_.xml" @@ -12,7 +12,7 @@ https://www.bworldonline.com/ BusinessWorld: The leading and most trusted source of business news and analysis in the Philippines - Thu, 01 Jan 2026 11:39:44 +0000 + Thu, 01 Jan 2026 11:45:00 +0000 en-US hourly @@ -20,6 +20,787 @@ 1 https://wordpress.org/?v=6.9 + NG borrowings surge in November + https://www.bworldonline.com/top-stories/2026/01/02/721894/ng-borrowings-surge-in-november/ + + + Thu, 01 Jan 2026 16:34:32 +0000 + + + + + https://www.bworldonline.com/?p=721894 + + + By Aubrey Rose A. Inosante, Reporter

+

THE NATIONAL Government’s (NG) gross borrowings surged in November amid a sharp rise in domestic and foreign borrowings, the Bureau of the Treasury (BTr) said.

+

Latest data from the Treasury showed that total gross borrowings jumped by 74.55% to P113.53 billion from P65.05 billion in the same month a year ago.

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Month on month, gross borrowings rose by 29.3% from P87.81 billion in October.

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Domestic borrowings increased by 59.57% to P78 billion in November from P48.88 billion in the same month last year. This accounted for the bulk or 68.7% of the total gross borrowings in November.

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Domestic borrowings were mainly composed of P70 billion in fixed-rate Treasury bonds (T-bonds) and P8 billion in Treasury bills (T-bills).

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On the other hand, external borrowings, which mainly consisted of project loans, jumped by 119.81% to P35.53 billion in November from P16.17 billion in the previous year.

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Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the higher gross borrowings in November were due to the need to plug the budget deficit.

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“This could be attributed to the continued NG budget deficit that needs to be financed by NG borrowings/debt, despite lower maturing government bonds in the fourth quarter,” he said in a Viber message.

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In the first 11 months of the year, NG’s gross borrowings inched up by 4.07% to P2.6 trillion from P2.49 trillion a year ago.

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The 11-month tally made up around 99.85% of the revised P2.6-trillion financing program for 2025.

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As of end-November, domestic borrowings made up 81.32% of the total.

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Domestic debt went up by 10.42% to P2.11 trillion in the period ending November from P1.91 trillion a year ago.

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This accounted for 99.98% of the P2.112-trillion domestic borrowing program for the year.

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Domestic debt was composed of P1.19 trillion in fixed-rate T-bonds, P425.61 billion in retail T-bonds, P300 billion fixed-rate Treasury notes, and P192.2 billion in T-bills.

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Meanwhile, gross external borrowings stood at P484.89 billion as of end-November, 16.75% down from P582.41 billion a year ago.

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This accounted for 99.33% of the P488.174-billion external borrowing program this year.

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Broken down, foreign debt included P201.35 billion in program loans, P191.97 billion in global bonds, and P91.57 billion in project loans.

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The end‑November external debt reflected the $3.3-billion global bond issuance completed in late January and settled in February.

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Mr. Ricafort said there is a seasonal increase in the budget deficit towards the end of the year, which would require more borrowings to finance the widening budget deficit.

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The budget deficit shrank by 26.02% year on year to P157.6 billion in November, but still pushed the fiscal gap to P1.26 trillion in the 11-month period.

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This represented 80.92% of the revised full-year target of P1.56 trillion for 2025.

+]]>
+ + + + https://www.bworldonline.com/wp-content/uploads/2025/10/US-Dollar-Peso-currency-1-300x200.jpg
+ + White corn gives Cagayan farmers a lifeline after years of debt and flood losses + https://www.bworldonline.com/top-stories/2026/01/02/721893/white-corn-gives-cagayan-farmers-a-lifeline-after-years-of-debt-and-flood-losses/ + + + Thu, 01 Jan 2026 16:33:32 +0000 + + + + + https://www.bworldonline.com/?p=721893 + + + + + #tdi_1 .td-doubleSlider-2 .td-item1 { + background: url(https://www.bworldonline.com/wp-content/uploads/2026/01/White-Corn-Vonn-Andrei-Villamiel-80x60.jpg) 0 0 no-repeat; + } + #tdi_1 .td-doubleSlider-2 .td-item2 { + background: url(https://www.bworldonline.com/wp-content/uploads/2026/01/White-Corn-Products-2-Vonn-Andrei-Villamiel-80x60.jpg) 0 0 no-repeat; + } + + + + +

By Vonn Andrei E. Villamiel

+

CAGAYAN — For decades, Crecencia B. Garan planted yellow corn in the river plains of Alcala, Cagayan — only to watch most of her earnings circle back to the middlemen who financed her inputs.

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Each planting season left the 67-year-old Filipino deeper in debt, and each flood that swept through her low-lying community wiped out whatever gains remained.

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“For yellow corn, we shoulder all the expenses, and we often borrow from middlemen,” she told reporters invited by the Agriculture department to Alcala on Dec. 5 in Filipino. “What we earn just ends up being used to pay our debts.”

+

Today, Ms. Garan says she is finally making money from the same land. She is part of a small but rising group of farmers shifting to white corn, a variety long grown for household consumption but now fetching higher prices and attracting steadier buyers as Alcala tries to rewire its corn economy.

+

While yellow corn is a feed and industrial crop, white corn is eaten directly and draws higher farmgate prices — P35 to P45 per kilo, roughly double the P18 farmers usually get for yellow corn.

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Grown alongside the yellow variety, white corn has become a crucial second stream of income that helps farmers absorb losses from the more volatile yellow corn market.

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Input access has also changed the equation. Seeds, fertilizer and pesticides are provided by government programs pushing white corn planting, while Alcala’s municipal processing hub buys the harvest and channels it to institutional buyers.

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“Because of white corn, we earn more because of higher prices,” Ms. Garan said. “Farmers also receive free fertilizer and insecticide, and we can borrow tractors and rotavators.”

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Alcala’s farmers have long depended on yellow corn, grown across more than 4,200 hectares and sold to livestock growers and feed millers across Cagayan Valley.

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That model began to crack after Typhoon Ulysses struck in 2020, sending floodwaters across the province and destroying about P52 million worth of crops and livestock in Alcala alone.

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Municipal agriculturist Vincent C. Espejo said years of heavy herbicide use in yellow corn areas contributed to vegetation loss and soil runoff, worsening the impact of flooding.

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Local officials began looking for crops that required fewer chemicals and encouraged more manual weeding — conditions that pointed them to white corn.

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“We have about 4,200 hectares planted to yellow corn, and almost all of them use herbicide,” Mr. Espejo said in Filipino. “The local government decided to adopt white corn because it does not use herbicide.”

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Today, about 100 hectares in Alcala are planted with white corn, producing roughly 170 metric tons per cycle.

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The changes required deliberate intervention. During the first harvests, the town government had to buy white corn because there were no buyers yet.

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“We bought it at P25 per kilo and sold it at P20 per kilo,” Mr. Espejo said. “The LGU (local government unit) would incur losses, and that was not sustainable.”

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That experience led to the creation of the Alcala Product Center, which now buys white corn, processes part of it, and connects farmers to institutional buyers.

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One of them is snack maker Nacho King, which buys at P45 per kilo and has a monthly requirement of up to 10 metric tons, according to Alcala’s agriculture office.

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‘BIG BROTHER’
+
The center’s purchases reach about 30 metric tons per cropping cycle. Roughly 3 tons are turned into corn-based products — noodles, coffee, corn bits and corn rice — sold in groceries, trade fairs and pasalubong stores, reaching markets as far as Manila and Palawan.

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The Alcala Fine Producers Cooperative, which manages the center, uses what it calls a “big-brother, small-brother” setup to support growers.

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“We are the big brother, and they are the small brother,” cooperative manager Jennifer M. Pagaduan told reporters in Filipino. “We help them process and market their products. They no longer need to find buyers themselves.”

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For farmers like Belly A. Duruin, president of the White Corn Growers Association, the mix of input assistance, equipment access and market guarantees has transformed their outlook.

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“This is a big help to us farmers,” she said in Filipino. “Because of growing white corn, our income increased. We no longer suffer losses.”

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Still, expansion remains slow. Of Alcala’s more than 4,000 hectares of corn land, only around 100 hectares have shifted to white corn. Habits, market familiarity, and yield differences continue to anchor farmers to yellow corn.

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“White corn is more labor intensive,” Mr. Espejo separately told BusinessWorld. “Unlike yellow corn, which only needs to be sprayed with herbicide, white corn requires manual weeding.”

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White corn yields about 2 metric tons per hectare, less than half the 5 tons typical for yellow corn. And although white corn commands higher prices, its market is smaller. Yellow corn remains easier to sell — traders and livestock growers will pick it up directly from farms.

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The processing center has also reached its limits. Drying equipment is scarce, and the town still lacks a proper warehouse for bigger volumes.

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Despite the constraints, Alcala sees momentum turning. As more buyers explore white corn for snacks and other food products, farmers are finding demand that did not exist just a few years ago.

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“When demand for white corn increases, production will also increase. Before, buyers could only find yellow corn, but now producers are available,” Mr. Espejo said.

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The local government aims to expand white corn planting to 20% of Alcala’s corn land — around 800 hectares — within five years.

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The expectation is that demand for locally grown white corn will continue rising as processors and food manufacturers search for unique ingredients and as consumers explore alternatives to traditional staples.

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For now, farmers like Ms. Garan say white corn has already changed their lives. After decades of borrowing from middlemen, she says she no longer ends each harvest season in debt.

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“We no longer suffer losses. We earn more now.”

+]]>
+ + + + https://www.bworldonline.com/wp-content/uploads/2026/01/White-Corn-Vonn-Andrei-Villamiel-300x200.jpg
+ + Easing bank secrecy law likely to boost Philippines’ efforts vs financial crimes + https://www.bworldonline.com/top-stories/2026/01/02/721895/easing-bank-secrecy-law-likely-to-boost-philippines-efforts-vs-financial-crimes/ + + + Thu, 01 Jan 2026 16:32:33 +0000 + + + + + https://www.bworldonline.com/?p=721895 + + + By Katherine K. Chan, Reporter

+

THE PROPOSED AMENDMENTS to the country’s decades-old bank secrecy law would be a sensible preemptive measure against illicit financial activities, despite being limited to bank officers and employees.

+

“The Philippines is one the very few countries with this, so (it is) a welcome development to align with global best practices (and) to help improve governance standards,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort told BusinessWorld in a Viber message.

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In December, the House of Representatives approved on third and final reading a bill introducing amendments to the Philippine bank secrecy law.

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Under House Bill (HB) No. 6707, the Bangko Sentral ng Pilipinas (BSP) will be granted the authority to access bank accounts owned by bank officers and employees linked to financial crimes.

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The measure consolidated eight similar House bills under the 20th Congress, including HB Nos. 7, 1674, 1786, 1918, 3026, 3196, 4388 and 5152.

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If the proposal is signed into law, the BSP will be allowed to examine the bank deposits of officials, employees, or any related parties of entities under any BSP-supervised institution.

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BSP-supervised institutions are banks, nonbank financial institutions with quasi-banking functions, and other entities that are engaged in financial activities like pawnshops, electronic money issuers, money service businesses, and trust corporations.

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The bill, which is included in the Legislative-Executive Development Advisory Council’s priority measures for the 20th Congress, likewise seeks to permit the BSP to exercise the same authority in investigating closed banks.

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Asked if limiting the scope to bank officers and employees is sufficient, Mr. Ricafort said: “Better to align banking standards with other ASEAN (Association of Southeast Asian Nations) or Asian countries and with other developed countries, based on global banking best practices.”

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Meanwhile, John Paolo R. Rivera, a senior research fellow at the Philippine Institute for Development Studies, said despite the limitations, the proposal is still a “sensible first step” to combat financial crimes involving banking officials.

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“It is a sensible first step because it targets areas of highest risk and accountability without undermining depositor confidence,” he told BusinessWorld in a Viber message. “Many financial crimes involve insiders who facilitate or ignore suspicious transactions, so tighter scrutiny here can meaningfully strengthen enforcement while preserving the principle of bank secrecy for the general public.”

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The central bank has been pushing for amendments to the Philippines’ tight bank secrecy laws to boost its oversight of the financial sector by preventing cases of insider abuse, citing cases where bankers themselves borrow from their own banks or hide proceeds of fraudulent activities in their banks, which endanger depositors.

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Mr. Rivera said introducing further amendments to require ordinary account holders suspected of ties to illegal financial activities to waive bank deposit secrecy could potentially undermine public confidence.

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“Allowing BSP to look into accounts of the general public would be far more sensitive and could raise serious privacy and confidence concerns if not narrowly defined,” he said.

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“Any broader access should be strictly risk-based, court-authorized, and tied to specific investigations, not blanket powers. Otherwise, it risks capital flight, weaker trust in banks, and reputational damage to the financial system,” he added.

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Meanwhile, analysts said easing the bank secrecy law could boost investor confidence in the Philippines.

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“Easing bank secrecy is a game-changer,” Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co., said via Viber. “It strengthens BSP’s ability to fight fraud and money laundering, keeps us off global gray lists, and signals that the Philippines is serious about transparency.”

+

“That builds investor confidence and makes us more attractive for foreign capital — because trust is the currency that drives investment,” he added.

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Mr. Rivera noted that investors appreciate clear rules, strong governance and transparent financial channels, all of which are reflected in the rationale behind the proposed amendments to the bank secrecy law.

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“Clear, risk-based access paired with due process signals lower regulatory and reputational risk, which can ultimately make (the Philippines) a more attractive and trustworthy investment destination,” he added.

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In a report for its Article IV Consultation with the Philippines released last month, the International Monetary Fund (IMF) said the Philippines should continue to prioritize advancing efforts to combat money laundering and terrorist financing.

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“Amendments to the Bank Deposits Secrecy laws in line with international good practices should be pursued to enhance the BSP’s supervisory powers and strengthen AML/CFT (anti-money laundering and combating the financing of terrorism) supervisory effectiveness,” the IMF said.

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“Strengthening the AML/CFT frameworks is also important to support broader anti-corruption efforts and effectively combat the laundering of proceeds of corruption,” it added.

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In February 2025, the Philippines exited the Financial Action Task Force’s (FATF) “gray list” or the list of jurisdictions under increased monitoring for money laundering.

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The FATF is set to reassess the country in 2027, when it will verify whether the country’s anti-money laundering measures are being sustained and still in place.

+]]>
+ + + + https://www.bworldonline.com/wp-content/uploads/2021/08/Peso-currency-2-300x200.jpg
+ + PSEi rebound seen this year if governance issues resolved + https://www.bworldonline.com/top-stories/2026/01/02/721870/psei-rebound-seen-this-year-if-governance-issues-resolved/ + + + Thu, 01 Jan 2026 16:31:03 +0000 + + + + https://www.bworldonline.com/?p=721870 + + + By Alexandria Grace C. Magno

+

THE PHILIPPINE Stock Exchange’s (PSE) main index will most likely consolidate or move sideways this year amid continued uncertainty, according to analysts.

+

China Bank Capital Corp. Managing Director Juan Paolo E. Colet said as things stand today, the PSE index (PSEi) could go up to the 6,700 level if governance issues are resolved and gross domestic product (GDP) growth remains above 5%.

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“There’s a chance that the market could rise to around 6,600-6,700 if we see decisive action on governance issues as well as a sustained trend of GDP growth above 5%,” he said in a Viber message. “Conversely, there’s a risk of the index revisiting 5,600 or lower if economic growth stalls or fresh governance concerns emerge.”

+

Economic managers expect 6-7% GDP growth this year, slightly faster than the 5.5-6.5% goal in 2025.

+

A corruption scandal involving anomalous flood control projects has already shaken investor confidence and slowed economic activity last year.

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An independent commission is still investigating the allegations that government officials, lawmakers and contractors received billions of pesos in kickbacks from anomalous projects.

+

The flood control mess has affected the stock market, which slumped in 2025. The PSEi ended lower on Monday — the final trading day of 2025 — at 6,052.92, down by 7.29% or 475.87 points from its end-2024 finish of 6,528.79.

+

Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp., said that if anti-corruption measures and governance reforms are pursued seriously, markets could sustain gains above 6,000.

+

“Local market sentiment was largely supported recently by the S&P’s latest affirmation on the Philippine credit ratings and positive outlook shows that the country’s economic and credit fundamentals remain intact despite geopolitical risks, the Trump factor, and local political noises recently,” Mr. Ricafort said in a Viber message.

+

In November, S&P Global Ratings kept the Philippines’ long-term “BBB+” and short-term “A-2” ratings with a “positive” outlook, noting that growth prospects remain solid despite the corruption scandal.

+

The “BBB+” sovereign rating is a notch below the “A”-level grade targeted by the government, while a positive outlook means the Philippines’ credit rating could be raised within 24 months if improvements are sustained.

+

AP Securities, Inc. Equity Research Analyst Shawn Ray R. Atienza said the PSEi may get stuck between the 6,000 and 6,400 level as weak manufacturing, slow consumer spending, and tighter infrastructure disbursements could hold back growth.

+

“Conversely, we anticipate 2025 fourth-quarter earnings of mining stocks to cushion macroeconomic woes and serve as a natural hedge against the weakening equity market and depreciating peso,” he said.

+

The peso on Monday closed at P58.79 per dollar, depreciating by eight centavos from its P58.71 finish on Friday. Year to date, it weakened by 94.5 centavos or 1.61% from its P57.845 close on Dec. 27, 2024.

+

In a Viber message, Regina Capital Development Corp. Head of Sales Luis A. Limlingan said the market could see a “solid recovery, potentially reaching 6,300-6,500” if data show strong fourth-quarter GDP growth and inflation remains stable.

+

Philstocks Financial, Inc. Research Manager Japhet Louis O. Tantiangco said the local economy needs positive catalysts to restore confidence and get economic growth back on track.

+

“This would include inflation remaining under control, a robust labor market, signs that household consumption growth is re-accelerating, investments in the country are recovering, more progress on the investigation of the Philippines’ corruption issues that would in turn help reignite consumer and investor confidence,” he said.

+

F. Yap Securities Investment Analyst Marky Carunungan said that investors are weighing political and governance uncertainties, which may temper investment and economic momentum.

+

“For early 2026, we expect the PSEi to trade in a relatively contained 5,900-6,200 range as the market navigates mixed signals from both macroeconomic and policy fronts. The 5,900 level remains as key support, while heavy resistance around 6,120-6,200 continues to cap upside,” he said in a Viber message.

+

“Until there’s a clearer visibility on governance clarity, fiscal execution, and sustained foreign inflows, our stance remains wait-and-see, with a more constructive market outlook contingent on a decisive break above 6,200 level,” Mr. Carunungan added.

+

PSE President and Chief Executive Officer Ramon S. Monzon on Monday said that despite the PSEi’s decline last year, there are reasons to be optimistic this year.

+

“If our government succeeds in its drive to hold the corrupt accountable and institute real and lasting improvements in transparency and governance, our market should be one of the best-performing markets in the region next year,” he said in a statement on Monday.

+

IPO ACTION
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The Philippine stock market may still face limited initial public offering (IPO) action in 2026, as some analysts forecast pointing to no more than four listings.

+

“We might have at most four IPOs in 2026. The most likely candidates are REITs and those in defensive sectors,” Mr. Colet said, noting that proposed changes to real estate investment trust (REIT) rules and lower interest rates could motivate some sponsors to move forward with REIT IPOs.

+

In November, the Securities and Exchange Commission (SEC) released a draft memorandum circular proposing updates to the REIT rules to broaden the definition of income-generating assets, extend sponsors’ reinvestment deadlines, and strengthen disclosure and governance requirements.

+]]>
+ + + + https://www.bworldonline.com/wp-content/uploads/2026/01/MARKETS-GLOBAL-300x200.jpg
+ + Flexible workspaces may sustain growth in 2026 + https://www.bworldonline.com/corporate/2026/01/02/721877/flexible-workspaces-may-sustain-growth-in-2026/ + + + Thu, 01 Jan 2026 16:06:25 +0000 + + + + https://www.bworldonline.com/?p=721877 + + + By Beatriz Marie D. Cruz, Reporter

+

THE PHILIPPINES’ flexible workspace market is set to expand further this year as global capability centers (GCC) and multinationals increase their presence in key business districts and regional hubs, analysts said.

+

“We expect continued growth in the flexible workspace sector, supported by both local and global trends,” Mikko Barranda, director for commercial leasing at Leechiu Property Consultants, said in an e-mailed reply to questions. “Global economic uncertainty and cost optimization requirements will reinforce demand further to look for adaptable solutions.”

+

GCCs, or in-house service hubs of multinational companies, continue to see the Philippines as a key location for talent and cost efficiency.

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“For many of these companies, flexible workspaces provide a low-risk entry point before committing to larger, long-term offices,” Mr. Barranda said.

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He added that flexible workspaces — offering hot desks, pods, meeting rooms and lounges — have become a staple in corporate real-estate strategies. These models attract project-based teams and market entrants looking to scale operations amid uncertain global conditions and high leasing costs.

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Local coworking operator GreatWork Global Workspaces plans to double its footprint by 2026 to capture rising demand.

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“We have a strong pipeline of local and international companies requesting GreatWork locations in areas where they are scaling operations and hiring talent,” Ruth Coyoca, assistant vice-president for sales and business development at GreatWork Global Workspaces, said in a Viber message.

+

GreatWork is in talks with more than 20 landlords across Metro Manila, Clark, Cebu and select regional business districts. Its offices offer coworking areas, private suites and virtual office services with designs featuring natural light, ergonomic layouts and premium finishes.

+

In 2025, the company recorded about 90% occupancy in its Quezon City and Mandaluyong branches.

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About 60% of its tenants are foreign companies — including business process outsourcing and Fortune 500 companies — while 40% are Filipino-led enterprises and government clients.

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“This mix provides resilience across economic cycles and reinforces our positioning as a premium, enterprise-ready coworking operator,” Ms. Coyoca said.

+]]>
+ + + + https://www.bworldonline.com/wp-content/uploads/2025/08/office-space-300x224.jpg
+ + PHL firms told to prepare for rise in AI-driven scams + https://www.bworldonline.com/corporate/2026/01/02/721876/phl-firms-told-to-prepare-for-rise-in-ai-driven-scams/ + + + Thu, 01 Jan 2026 16:05:25 +0000 + + + + https://www.bworldonline.com/?p=721876 + + + PHILIPPINE ORGANIZATIONS face a higher risk of scams driven by artificial intelligence (AI) this year and should strengthen intelligence-led cybersecurity and employee awareness to limit exposure, according to Trend Micro.

+

“In 2026, cybercriminal tactics will increasingly be driven by AI and automation,” Trend Micro Philippines Country Manager Ian V. Felipe said in an e-mailed reply to questions.

+

Autonomous or agentic AI systems are expected to make fraud campaigns more targeted, persuasive, and scalable, according to the cybersecurity software firm’s 2026 Scam Predictions report. These tools let attackers automate scam creation, social engineering and fraud execution with limited human oversight, Mr. Felipe said.

+

Trend Micro expects phishing, impersonation scams and payment-related fraud to continue rising, often paired with malware infections or account takeover attempts.

+

Organizations with digital customer touchpoints such as online payment systems, customer service platforms and cloud-based applications are likely to face the highest exposure.

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“While the Philippines shares many of the same risk factors as other Asia-Pacific countries, including reliance on hybrid environments and digital platforms, its growth in digital adoption has made proactive cybersecurity a strategic imperative,” Mr. Felipe said.

+

The company also warned that Philippine organizations would remain targets of advanced persistent threats this year, particularly those handling sensitive data or connected to national and economic infrastructure.

+

“Any organization with a significant digital footprint, reliance on cloud or hybrid environments or exposure to regional and global networks should consider itself a potential target and take a proactive, intelligence-driven approach to security,” he added.

+

Other scam types expected to persist include multi-channel fraud, relationship and investment scams, instant payment fraud and delivery- and billing-related schemes, according to Trend Micro.

+

Scammers are also expected to time attacks around major events such as natural disasters, layoffs and elections to increase credibility and success rates.

+

Trend Micro estimates that global losses from scams reached $442 billion in 2024, underscoring the scale of the threat as AI-driven techniques become more accessible and sophisticated.

+

The firm said organizations that combine technical defenses with employee awareness programs would be better positioned to limit risk as scam tactics continue to evolve. — Beatriz Marie D. Cruz

+]]>
+ + + + https://www.bworldonline.com/wp-content/uploads/2025/06/criminal-hacking-system-unsuccessfully-cybersecurity-300x200.jpg
+ + SEC warns investors against Adscent International + https://www.bworldonline.com/corporate/2026/01/02/721875/sec-warns-investors-against-adscent-international/ + + + Thu, 01 Jan 2026 16:04:25 +0000 + + + + https://www.bworldonline.com/?p=721875 + + + THE Securities and Exchange Commission (SEC) has warned the public against Adscent International, saying it is promoting investment schemes that promise unusually high returns over short periods.

+

In an advisory, the corporate regulator said Adscent International, using Facebook and agents, is soliciting funds or offering loans with promised returns of 120%, 350% and 300% over seven, 20 and 15 days, depending on the completion of certain tasks. The scheme also offers a 10% bonus for referring others.

+

“Investors may register through their website… or join Facebook groups managed by team leaders to manage their investments and serve as advisers in future transactions,” the SEC said.

+

The regulator noted that Adscent International’s social media posts offer three investment plans with different profit margins linked to varying minimum and maximum investment amounts.

+

The SEC said such arrangements constitute an investment contract, which under the Securities Regulation Code must be registered and authorized by the commission.

+

The code defines an investment contract as a security where funds are invested in a common enterprise with profits expected primarily from the efforts of others.

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Adscent International does not have a license to solicit investments. Its chief executive officer has also not been registered as an associated person, compliance officer, salesman or certified investment solicitor for any broker-dealer, investment house, underwriter, investment adviser or mutual fund distributor, the SEC said.

+

The company’s website link is unavailable, and no other contact information for Adscent International is publicly listed. — Alexandria Grace C. Magno

+]]>
+ + + + https://www.bworldonline.com/wp-content/uploads/2024/06/SEC-buillding-4-300x169.jpg
+ + A show for lawyers + https://www.bworldonline.com/arts-and-leisure/2026/01/02/721808/a-show-for-lawyers/ + + + Thu, 01 Jan 2026 16:04:21 +0000 + + + + https://www.bworldonline.com/?p=721808 + + + + + #tdi_2 .td-doubleSlider-2 .td-item1 { + background: url(https://www.bworldonline.com/wp-content/uploads/2026/01/a-scene-from-Bar-Boys-After-School--80x60.jpg) 0 0 no-repeat; + } + #tdi_2 .td-doubleSlider-2 .td-item2 { + background: url(https://www.bworldonline.com/wp-content/uploads/2026/01/Bar-Boys-After-School-2025-80x60.jpg) 0 0 no-repeat; + } + + + + +

By Joseph L. Garcia, Senior Reporter

+

Movie Review
+Bar Boys: After School
+Directed by Kip Oebanda
+Produced by 901 Studios
+MTRCB Rating: PG

+

THE 2017 film Bar Boys is becoming quite the beloved franchise, with a 2024 stage adaptation and now with a second movie. Unfortunately for me, I didn’t ride the 2017 hype of the first movie, about friends navigating life and law school. In other words, I did not see it.

+

What that meant for this review of its sequel was that I had zero emotional investment in the characters (played by Rocco Nacino, Carlo Aquino, and Enzo Pineda). Kean Cipriano attends law school the way his character in the first film did not. (All the actors play the same roles they played in the first film.)

+

The “boys” are now shown living their lives after passing the bar 10 years ago. Mr. Aquino’s lawyer works for an NGO. Mr. Nacino’s character is a devoted family man, a handsome lawyer in a law firm (and is used only as the face of his firm, much to his dissatisfaction), and a law professor. Mr. Pineda still plays the conflicted rich boy who just can’t have it all; Mr. Cipriano drops his showbiz act from the first film and does the grunt work in law school.

+

Meanwhile, their beloved law professor, Justice Hernandez (played by veteran Odette Khan), is dying. The boys take turns caring for her. Now, for her, I felt instant love. The boys are good, but any scene that had Ms. Khan in it, frail as she was in wheelchairs and hospital beds, is immediately dominated by her.

+

However, even Ms. Khan suffered from clunky dialogue, which was probably why I couldn’t immediately love the characters. They don’t sound like real people, or the actors aren’t comfortable with their lines — we note this especially with the newbies in the cast, led by internet sensation Sassa Gurl. In all fairness to her, she levels up her acting skills in the last bits of the film, when she is no longer required to act out classroom recitations. For the rest of the cast, however, their delivery only sounds like a rough idea of how people think lawyers talk. The few times the dialogue does land right (mostly when it’s just the four of the main cast), I’m reminded only of aspiring lawyers I didn’t like (but maybe that’s just me).   

+

The movie is not unwatchable, despite my nitpicking. Perhaps due to Mr. Oebanda’s roots in activism, we’re given side stories related to social issues: Mr. Aquino’s character, for example, becomes a victim of violence related to his profession. Economic issues are highlighted by Mr. Nacino’s character’s students: Therese Malvar’s CJ strives to become a lawyer to save her village from a corrupt quarrying company; Will Ashley’s Arvin struggles through juggling law school and actual work. We commend Mr. Ashley’s acting skills in bringing justice to that specific arc (that his young boss is a benevolent “nepo baby” played by a handsome Emilio Daez is a bonus). The story arcs bouncing away from the problems of the main four give the film a little more oomph and longevity. We also give credit where credit is due: despite the clunky, jargon-filled dialogue, the film shows the tedium of paperwork, meetings, and red tape that more glamorous legal dramas won’t show — and still somehow make it interesting.

+

The movie isn’t for me: I’m not a lawyer. The subplots, I feel, can be developed into standalone movies; but as for the main plot, I imagine mid-career lawyers getting shivers up their spine while watching some scenes. This is their show, and they should treat themselves to it.

+]]>
+ + + + https://www.bworldonline.com/wp-content/uploads/2026/01/a-scene-from-Bar-Boys-After-School--300x169.jpg
+ + Desiderata for the Philippines: Piercing the upper limit + https://www.bworldonline.com/opinion/2026/01/02/721842/desiderata-for-the-philippines-piercing-the-upper-limit/ + + + Thu, 01 Jan 2026 16:03:42 +0000 + + + + + https://www.bworldonline.com/?p=721842 + + + As the nation crossed into 2026, the annual ritual of New Year’s resolutions once again crowded our public discourse. The Philippine Government announces yet another reform agenda, our political leaders issue promises of change, and citizens renew long-held hopes. Yet experience, both personal and collective, instructs us that most resolutions do not endure. Studies show that only a small fraction of these intentions are ever fulfilled. The rest dissolve under the weight of vague goals, weak accountability, and the unwillingness to confront difficult structural constraints. They are more crucified on paper, rather than converted.

+

What is true of individuals is true of nations.

+

More than a decade ago, Gay Hendricks, in The Big Leap, described what he called the “upper limit problem”: the self-imposed barriers that prevent people and institutions from realizing their full potential. Progress, he argued, requires first acknowledging these limits and then deliberately transcending them, moving from incompetence, to competence, to excellence, and finally to what he termed the “zone of genius,” where purpose, capability, and responsibility converge.

+

The Philippines today is trapped below its potential not because of a lack of talent, resources, or opportunity, but because it has failed, repeatedly, to break through its governance upper limit. There is great space for getting its act together.

+

As we must speak plainly, public policy in the Philippines continues to underperform relative to our neighbors not by accident, but by design. We elect legislators without the competence and preparation required for lawmaking. We reward loyalty over merit in public appointments. We tolerate patronage politics and weak institutions, then wonder why execution fails. In doing so, we normalize mediocrity and excuse injustice. That’s how we designed our political and economic system.

+

The consequences are now evident. Following the conclusion of the Article IV consultation with the Philippines this month, the International Monetary Fund has warned that the balance of risks to the country’s growth is tilted to the downside, explicitly citing corruption allegations, particularly in flood control projects, alongside climate shocks and global trade uncertainty. The Fund has called for stronger governance, firmer adherence to the rule of law, and decisive action against corruption vulnerabilities.

+

The World Bank, the Asian Development Bank, and the ASEAN+3 Macroeconomic Research Office have echoed these concerns, pointing to eroding public trust as a drag on growth. Even where credit outlooks remain stable, confidence is increasingly fragile.

+

This is not merely an economic problem. It is a crisis of institutions, leadership, and moral direction.

+

It is therefore imperative to ask, not rhetorically but seriously, what do we, as a people and as a polity, truly desire for the Philippines? What are our non-negotiable desiderata?

+

Our answer draws from some years of civic and political engagement with 1Sambayan, particularly since the 2022 national elections. At its heart, 1Sambayan is not a traditional political organization but a reform coalition grounded in shared values. Its People’s Agenda: Nine Principles of Unity and Commitment opens with a reminder from Pope Francis: “Rivers do not drink their own water; trees do not eat their own fruits; the sun does not shine on itself; nor do flowers spread their fragrance for themselves.” Power exists for service. Leadership exists for others.

+

This moral clarity is precisely what our politics lacks — and precisely what our country needs.

+

Thus, our desiderata for the Philippines, addressed directly to policymakers and the Filipino people, are clear.

+

First, elections must be genuinely free, fair, and honest. The right of suffrage is sacred because it determines who governs and how power is exercised. Electoral integrity is not a procedural issue; it is the foundation of legitimate authority.

+

Second, the nation must unite against corruption — not selectively, not rhetorically, but decisively. Corruption is not a victimless crime; it steals from the poor, weakens institutions, and robs future generations.

+

Third, the rule of law must be upheld without exception, and human rights must be respected as a matter of policy and principle. Laws lose meaning when enforcement is arbitrary, and development becomes hollow when dignity is denied.

+

Fourth, the Philippines must safeguard its sovereignty and territorial integrity with clarity and resolve. A nation that cannot defend its rights cannot inspire confidence among its citizens or its business partners.

+

Fifth, public health must be treated as a core investment, not a residual expense. A healthy population is a productive population, and access to healthcare — especially for the marginalized — is both a moral and economic imperative. What happened to the PhilHealth funds should be a cautionary tale.

+

Sixth, the economy must be comprehensively restructured to achieve inclusive, self-sustaining, and resilient growth. Growth that benefits only a few is not progress; it is instability deferred.

+

Seventh, education, civic values, and cultural integrity must be strengthened. Nation-building depends not only on skills, but on character, responsibility, and a shared sense of purpose.

+

Eighth, social justice and peace must be actively pursued, particularly in communities long excluded from opportunity and voice. Peace without justice is temporary; justice without peace is incomplete.

+

Ninth, communities must be empowered to become resilient, especially in the face of climate change. Citizens must have both the capacity and the agency to influence policies that affect their security and livelihoods.

+

These principles are not aspirational slogans. They are policy imperatives.

+

As former congressman Joey Salceda has observed, fiscal space is not the same as progress. The Philippines has not failed because of weak growth or uncontrolled inflation. It has stalled because institutions have not kept pace with economic change, and politics has failed to serve the common good. Our plateau is institutional, not technical.

+

This is where 1Sambayan’s thrust is most urgent. Making the system work requires placing the right people in the right positions through credible elections. It requires mobilizing civil society and the business community to demand transparency and accountability. It requires recognizing that investors, like citizens, value predictability, justice, and the rule of law more than short-term gains.

+

Human capital — health, education, and the capacity to adapt to technological change — must be the enduring foundation of innovation-led growth. No country has prospered sustainably by neglecting the well-being and capabilities of its people. Public health and quality education are not social add-ons; they are strategic investments that determine productivity, resilience, and national competitiveness.

+

At the same time, long-delayed structural reforms can no longer be deferred. As the Foundation for Economic Freedom has time and again advanced, constitutional, legal, and regulatory frameworks must be updated to reflect present realities rather than outdated fears. An economic system that entrenches exclusion, limits opportunity, and privileges a narrow few cannot generate dignity, social cohesion, or peace. Reform is not ideological — it is practical, moral, and urgent.

+

Our ultimate desideratum is for the Philippines to finally pierce its self-imposed upper limit. That we dismantle an unjust political and economic order that restrains the many for the benefit of the few, and replace it with institutions that are fair, competent, and accountable. This demands courage and integrity from policymakers who must govern not for the next election but for the next generation. It demands vigilance and participation from citizens, who must insist that public office is a public trust.

+

The choice before us is stark and clear: to continue managing decline through cosmetic reforms, or to make the decisive leap toward a good system that works — for the people, by the people, and in service of the common good. Only by choosing the latter can 2026 mark not another year of abandoned resolutions, but the beginning of a sustained national transformation toward a just, sovereign, and inclusive Philippines.

+

God bless the Philippines!

+

 

+

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.

+]]>
+ + + + https://www.bworldonline.com/wp-content/uploads/2026/01/PHILIPPINES-POLITICS-PROTEST-300x200.jpg
+ + Further BSP, Fed policy easing may stabilize market sentiment + https://www.bworldonline.com/banking-finance/2026/01/02/721781/further-bsp-fed-policy-easing-may-stabilize-market-sentiment/ + + + Thu, 01 Jan 2026 16:03:25 +0000 + + + + https://www.bworldonline.com/?p=721781 + + + FURTHER RATE CUTS from both the Bangko Sentral ng Pilipinas (BSP) and the US Federal Reserve could put some pressure on the peso in the near term, but may help stabilize markets and investor sentiment, analysts said.

+

“Both the Fed and the BSP signaling room for another rate cut generally point to a more supportive liquidity backdrop… One more cut from both central banks would likely put more mild pressure on the peso’s depreciation as rate differentials remain, while also increasing demand for government securities in the short term as investors can take advantage of lower policy rates and softer yield expectations,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

+

“In the medium term, further easing could help stabilize financial conditions and partially support risk sentiment.”

+

The BSP on Dec. 11 delivered a fifth straight 25-basis-point (bp) reduction in benchmark borrowing costs, bringing the policy rate to an over three-year low of 4.5%.

+

It has lowered benchmark rates by a total of 200 bps since its easing cycle began in August 2024. BSP Governor Eli M. Remolona, Jr. has left the door open to one final 25-bp cut this year to help boost the economy amid a dismal outlook due to a wide-ranging corruption scandal involving government infrastructure projects, which has affected public spending and investor confidence.

+

The Monetary Board will hold its first meeting for this year on Feb. 19.

+

Meanwhile, the Fed cut by 25 bps for a third consecutive time at its Dec. 9-10 meeting to bring its target rate to the 3.5%-3.75% range. It next meets on Jan. 27-28, with investors currently expecting the central bank to leave its benchmark rate unchanged, Reuters reported.

+

The Fed agreed to cut interest rates at its December meeting only after a deeply nuanced debate about the risks facing the US economy right now, according to minutes of the latest two-day session.

+

Even some of those who supported the rate cut acknowledged “the decision was finely balanced or that they could have supported keeping the target range unchanged,” given the different risks facing the US economy, according to the minutes released on Tuesday.

+

“Most participants” ultimately supported a cut, with “some” arguing that it was an appropriate forward-looking strategy “that would help stabilize the labor market” after a recent slowdown in job creation.

+

Others, however, “expressed concern that progress towards the committee’s 2% inflation objective had stalled.”

+

“One more rate cut from BSP and Fed would likely pull yields lower and keep demand for GS (government securities) strong as investors position for a prolonged easing cycle. For the Philippine peso, additional cuts may cause mild short-term pressure, but this should be manageable if global conditions remain stable and inflows hold,” Philippine Institute for Development Studies Senior Research Fellow John Paolo R. Rivera said in a Viber message.

+

However, further policy accommodation by both central banks may not be enough to boost investor sentiment, he said.

+

“While rate cuts help liquidity and valuations, they may not be enough to fully offset weak sentiment from slower growth expectations. Monetary easing can cushion markets, but restoring confidence will still depend on improved growth prospects, fiscal execution, and clearer policy signals.”

+

In 2025, global financial markets were roiled by US President Donald J. Trump’s shifting trade policies that he said are meant to reestablish the world’s largest economy’s dominance, as well as geopolitical concerns.

+

In the Philippines, the graft scandal linking officials of the Public Works department, lawmakers, and private contractors to corruption in allegedly anomalous flood control projects also weighed on investor sentiment, especially in the second half of the year, causing stocks to hit multi-year troughs and the peso to post fresh record lows. — A.M.C. Sy with Reuters

+]]>
+ + + + https://www.bworldonline.com/wp-content/uploads/2024/07/BSP-Building-300x200.jpg
+ + FLI focuses on bigger Laguna projects after exit from CCPC + https://www.bworldonline.com/corporate/2026/01/02/721874/fli-focuses-on-bigger-laguna-projects-after-exit-from-ccpc/ + + + Thu, 01 Jan 2026 16:03:24 +0000 + + + https://www.bworldonline.com/?p=721874 + + + FEDERAL LAND, INC. (FLI) said it would concentrate on bigger developments in Laguna province after the divestment of Crown Central Properties Corp. (CCPC).

+

“The master-planned community in Biñan developed by CCPC, our joint venture with Crown Equities, is almost fully sold out and represents a small, legacy portion of our total development portfolio,” FLI President Jose Mari H. Banzon said in a Viber message on Monday.

+

“We decided to divest from CCPC and focus our resources on our more recent and larger developments in Laguna,” he added.

+

In October, Mr. Banzon said the company had completed its 2025 project launches and was preparing several residential developments for 2026, including a 21-hectare horizontal project in Biñan, Laguna, as a continuation of its Meadowcrest community.

+

He said the Biñan project is among the company’s bigger developments.

+

“It includes the sequel to Hartwood, a village in Meadowcrest. Federal Land still has a significant land bank in Biñan and Sta. Rosa,” he added.

+

Last month, FLI and unit Horizon Land Property Development Corp. sold their combined 52% stake in Crown Central Properties to Crown Equities, Inc. for P73.48 million.

+

Crown Equities acquired 62.5 million common shares from FLI valued at P68.12 million, and 5 million shares from Horizon Land worth P5.37 million. The board approved the acquisition on Dec. 16, and the deal remains subject to closing conditions.

+

After the transaction, Crown Equities now owns 100% of Crown Central Properties, which develops residential and commercial projects.

+

Crown Central was originally established in 1996 as a joint venture between Crown Equities and Solid Share Holdings — now Federal Land — to develop Palma Real Residential Estates in Biñan, Laguna.

+

In 2003, it entered a memorandum of agreement with Sta. Lucia Realty and Development, under which Crown Central contributed land and initial improvements while Sta. Lucia completed the subdivision.

+

Federal Land is a unit of GT Capital Holdings, Inc., a diversified group with interests in automotive, banking and real estate. — Alexandria Grace C. Magno

+]]>
+ + + + https://www.bworldonline.com/wp-content/uploads/2025/10/The-Grand-Midori-Ortigas-300x200.jpg
+ + Peso may trade in tight range to open the year amid holiday-thinned liquidity + https://www.bworldonline.com/banking-finance/2026/01/02/721821/peso-may-trade-in-tight-range-to-open-the-year-amid-holiday-thinned-liquidity/ + + + Thu, 01 Jan 2026 16:02:33 +0000 + + + + + + https://www.bworldonline.com/?p=721821 + + + THE PESO could move within a limited range to open 2026 amid a lack of catalysts, with activity likely to be driven by positioning and entities keen to take advantage of bargains to secure their dollar requirements.

+

On Dec. 29, the last trading day for 2025, the local unit closed at P58.79 versus the greenback, depreciating by eight centavos from its P58.71 finish on Dec. 26, 2025.

+

Year on year, the peso depreciated by 94.5 centavos or by 1.61% from its P57.845 close at end-2024.

+

Philippine financial markets were closed on Dec. 30, Dec. 31, and Jan. 1 for Rizal Day and the New Year holidays.

+

The peso will likely continue to move sideways when the market reopens on Friday as players seek fresh leads, a trader said in a text message.

+

“There could still be some accumulated though residual seasonal increase in OFW (overseas Filipino workers) remittances and conversion to pesos to finance Yuletide- and New Year-related holiday spending, though offset by some bargain hunting by some importers and others with requirements for US dollars,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message. He expects the peso to move between P58.65 and P58.95 per dollar on Friday.

+

Meanwhile, the US dollar advanced on Wednesday, erasing earlier declines after a stronger-than-expected labor market reading, Reuters reported.

+

The dollar index, which measures the greenback against a basket of currencies, rose 0.27% to 98.50.

+

For the year 2025, the dollar was down more than 9%. — AMCS

+]]>
+ + + + https://www.bworldonline.com/wp-content/uploads/2024/09/Dollar-peso-coins-currency-300x153.jpg
+ + Analysts weigh impact of stock exchange’s one-share trading rule + https://www.bworldonline.com/corporate/2026/01/02/721873/analysts-weigh-impact-of-stock-exchanges-one-share-trading-rule/ + + + Thu, 01 Jan 2026 16:02:24 +0000 + + + https://www.bworldonline.com/?p=721873 + + + By Alexandria Grace C. Magno

+

THE Philippine Stock Exchange’s (PSE) proposal to adopt a one-share board lot and revise run-off and trading-at-last rules could broaden retail participation, though analysts warn the changes may also lead to fragmented liquidity, execution challenges and higher operating costs for brokers.

+

“In theory, allowing investors to buy a single share improves accessibility and aligns the PSE with global practices, especially as digital platforms attract younger, smaller-ticket investors,” Toby Allan C. Arce, head of sales trading at Globalinks Securities and Stocks, Inc., said in a Viber message.

+

“However, the trade-off is a higher risk of fragmented and choppy trading, as order books may become crowded with very small orders that add noise rather than depth,” he added.

+

In December, the PSE released proposed changes that would standardize the minimum lot size at one share for all listed securities, regardless of price. The move will effectively abolish the odd-lot market and lower the minimum capital required to buy any stock, as part of the exchange’s broader trading system upgrade.

+

Mr. Arce said overall participation might rise, but liquidity quality could initially deteriorate, particularly in thinly traded stocks where wider bid-ask spreads and sharper price movements are more likely.

+

“Much will depend on how brokers implement minimum order value policies and how quickly market participants adapt their order-routing and aggregation strategies,” he added.

+

Under the proposed amendments, the revised board lot will reduce the minimum investment for any security to its market price.

+

“The proposed board lot will allow investors to trade a single share of a security and effectively reduce the minimum investment for any security to its market price, making stock market investing more affordable and accessible to retail investors,” the PSE said.

+

China Bank Capital Corp. Managing Director Juan Paolo E. Colet said a uniform board lot would also shift all trades to the regular market, removing inefficiencies tied to odd-lot transactions.

+

“Trading participants are allowed to set a reasonable minimum order value, so the rule change is a win-win for both brokers and small investors,” he said in a Viber message.

+

By consolidating liquidity into the regular market, the proposal could eliminate price distortions and wide bid-ask spreads that typically characterize odd-lot trades, Mr. Colet said.

+

To address concerns from trading participants whose business models may not suit a one-share structure, the PSE said brokers could impose minimum order values when accepting client orders. This provision is meant to offset higher processing costs from handling many small-value trades, especially for firms focused on institutional clients.

+

The exchange said any minimum order value must be implemented without exceeding commission limits under existing laws and regulations.

+

Mr. Arce noted that while the change could help attract first-time investors and incremental retail activity, it is not a complete solution to boosting market participation.

+

He noted that if brokers set minimum order values too high, accessibility gains could be diluted, while setting them too low might create operational inefficiencies and weaker per-trade economics.

+

“Over time, the reform could shift retail behavior toward more frequent but smaller trades, which may boost headline trade counts but not necessarily value turnover,” Mr. Arce said.

+

BDO Securities also said it does not expect major issues from the proposed changes, particularly in terms of retail participation, noting that removing odd lots could boost transaction volumes without lifting peso turnover value.

+

“Overall, the Philippine stock market has not been performing well, which has led retail investors to other types of investments outside the PSE,” it said.

+

It added that institutional clients generally view odd-lot trades as immaterial, but brokers will need to update systems to support the framework. These upgrades “will entail added costs, which will vary from broker to broker.”

+

The board lot proposal coincides with the PSE’s migration to Nasdaq Eqlipse Trading. The exchange said it completed a detailed gap analysis comparing Nasdaq Eqlipse Trading with PSEtrade XTS across operational, functional and regulatory requirements.

+

One identified gap involves trading during the run-off or trading-at-last period. Under PSEtrade XTS, incoming orders are rejected if the counterparty order price is more favorable than the established closing price.

+

The PSE noted that under Nasdaq Eqlipse Trading, orders priced at the closing price will be accepted and matched at that level, even if existing orders are priced more favorably. This lets more trades go through at the close, without disadvantaging investors whose orders are executed at the closing price.

+

Mr. Arce said the combined impact of broker-level minimum order values and revised run-off trading rules could complicate execution for institutional and end-of-day rebalancing trades.

+

“In the medium term, the success of these reforms will hinge on calibration — how minimum order values are set, how brokers adapt execution models and how effectively the PSE balances inclusivity with market efficiency as it transitions to a more technologically advanced trading environment,” he said.

+]]>
+ + + + https://www.bworldonline.com/wp-content/uploads/2022/07/PSE-trading-floor-traders-300x200.jpg
+ + Minimum wages raised in most Philippine regions + https://www.bworldonline.com/labor-and-management/2026/01/02/721850/minimum-wages-raised-in-most-philippine-regions/ + + + Thu, 01 Jan 2026 16:02:09 +0000 + + + + https://www.bworldonline.com/?p=721850 + + + THE PHILIPPINE government has wrapped up most of its 2025 regional minimum wage reviews, leading to a round of pay increases for workers across the country, the Department of Labor and Employment (DoLE) said.

+

Fourteen regional wage orders covering private sector workers were issued last year by Regional Tripartite Wages and Productivity Boards, the agency said in a statement.

+

These covered the National Capital Region (NCR), Cordillera Administrative Region (CAR), Ilocos Region, Cagayan Valley, Central Luzon, Calabarzon, Mimaropa, Western Visayas, Central Visayas, Eastern Visayas, Zamboanga Peninsula, Northern Mindanao, Soccsksargen and Caraga. The increases ranged from P20 to P100 daily.

+

The NCR kept the highest minimum wage level nationwide, with daily rates ranging from P658 to P695. Other regions approved more modest adjustments, reflecting differences in local economic activity, cost of living and productivity conditions.

+

Separate wage orders were also issued for domestic workers. DoLE said 11 wage orders covering domestic workers were released in the CAR, Ilocos Region, Cagayan Valley, Central Luzon, Mimaropa, Western Visayas, Central Visayas, Eastern Visayas, Northern Mindanao, Soccsksargen and Caraga. These orders granted monthly minimum wage increases ranging from P300 to P2,000.

+

DoLE estimates that more than 4.5 million minimum wage earners in private establishments directly benefited from the wage adjustments in 2025. About 755,000 domestic workers were also covered by the revised rates.

+

“Wage orders were issued in consultation with workers and employers to ensure balance between protection and needs, reasonable returns on investments and employment generation,” the agency said.

+

It added that about 8 million full-time wage and salary workers earning above the minimum wage could also benefit indirectly. These adjustments may trigger wage distortion corrections at the enterprise level.

+

DoLE defines wage distortion as a situation where a mandated wage increase reduces or eliminates established pay differences among employee groups within the same company.

+

Separately, DoLE confirmed that the National Wages and Productivity Commission has affirmed the wage orders for Northern Mindanao, which will take effect on Jan. 16. These include a P39 daily minimum wage increase for private sector workers, to be implemented in two tranches, and a P500 monthly increase for domestic workers.

+

Once fully implemented, minimum daily wages in Northern Mindanao will range from P485 to P500. Monthly pay for domestic workers in the region will rise to P6,500.

+

Meanwhile, wage boards in the Davao Region and Bicol Region are expected to begin their wage review processes in January and February, respectively.

+

DoLE said wage-setting decisions continue to rely on consultations with labor and management groups, alongside assessments of regional economic conditions, productivity trends and employment levels.

+

Beyond wage setting, DoLE said the National Wages and Productivity Commission and wage boards have reached more than 28,000 micro, small and medium enterprises through productivity and gain-sharing programs. A portion of these firms had begun executing productivity-based action plans as of November 2025. — Erika Mae P. Sinaking

+]]>
+ + + + https://www.bworldonline.com/wp-content/uploads/2022/11/commuters-300x200.jpg
+ + A sober look at the New Year + https://www.bworldonline.com/banking-finance/2026/01/02/721820/a-sober-look-at-the-new-year/ + + + Thu, 01 Jan 2026 16:01:32 +0000 + + + + + https://www.bworldonline.com/?p=721820 + + + Every new year arrives with noise. Fireworks, countdowns, slogans about fresh starts. As business leaders and managers, we are expected to sound upbeat, to rally people around new goals and bold plans. I understand why. Optimism sells. It motivates. It makes people feel lighter after a long and difficult year. But after decades of working with organizations, both here and abroad, I have learned to be cautious of this ritualized optimism. The new year also has a flip side, and ignoring it can be costly.

+

I have always found it useful to begin the year not with grand promises but with a quiet inventory. What is broken? What is fragile? What might get worse before it gets better? This may sound pessimistic, but it is actually an act of responsibility. Leaders who only talk about hope risk blinding their teams to real constraints. In business, hope without realism quickly turns into frustration.

+

Globally, the mood is far from simple. Inflation may be easing in some markets, yet costs remain stubborn. Supply chains are still exposed to conflict, climate shocks, and politics. Technology continues to move fast, especially with AI, but adoption gaps are widening. Some firms are racing ahead, while many are quietly struggling to keep up. This unevenness matters. When leaders declare that the new year will be a breakout year, they often forget that not everyone starts from the same line.

+

In the Philippines, the contrast is even sharper. On paper, growth numbers look decent. Consumer spending is holding up. Yet talk to business owners, managers, or even government staff, and you hear a different story. Budgets are tight. Hiring is cautious. Projects move slowly. Decisions are delayed because approvals take time, or because people are simply exhausted. I have seen teams enter January already tired, carrying unfinished work from the previous year, expected to act as if everything has magically reset.

+

This is where realism becomes a leadership skill. A new calendar does not erase old problems. Backlogs do not disappear. Weak systems do not suddenly improve because of a resolution slide in a town hall. When leaders acknowledge this openly, something interesting happens. People relax. They feel seen. The pressure to perform optimism fades, and honest conversations begin.

+

There is also value in what some might call healthy pessimism. Not the kind that complains endlessly, but the kind that plans for things to go wrong. I often tell executives that pessimists build buffers. They ask what happens if revenues fall short, if a key person leaves, if a policy shifts, if technology fails. Optimists assume smooth sailing. Pessimists design lifeboats. In uncertain times, lifeboats matter more than slogans.

+

In management, the start of the year is when targets are set. Stretch goals are fashionable. They look good on paper and in board decks. But stretch goals without clear trade-offs create silent damage. Teams cut corners. Managers burn people out. Ethical lines blur. When results fall short, blame travels downward. A more grounded approach asks harder questions. What can we realistically deliver with the people and tools we have? What should we stop doing to protect what truly matters?

+

Leadership also means managing expectations, not just performance. In the Philippines, we are culturally inclined to say yes, to avoid disappointing others. This tendency becomes stronger at the start of the year, when everyone wants to sound cooperative and positive. Yet leaders who never say no in January often spend the rest of the year explaining delays and failures. Realism early on saves relationships later.

+

I have also noticed that personal new year habits spill into organizations. Individuals promise to be more productive, healthier, more disciplined. By February, guilt sets in. The same happens in companies. Big transformation programs are launched, only to stall quietly. A leader who accepts that change is slow, uneven, and sometimes boring is better equipped to guide it. Progress measured in small steps may lack drama, but it lasts.

+

None of this means abandoning hope. It means grounding hope in evidence. It means admitting that some years are about defense, not expansion. Some years are about fixing leaks, not building towers. In my own work, there were years when survival and learning mattered more than growth. Those years were not failures. They were preparation.

+

As the new year unfolds, I encourage leaders to balance optimism with clear-eyed judgment. Speak about risks as openly as opportunities. Allow teams to express doubt without being labeled negative. Reward honesty over cheerleading. In doing so, you build trust, and trust is a far stronger asset than motivational quotes.

+

The new year does not owe us success. It offers time. What we do with that time depends on how honestly we see the road ahead. Realism may not sound inspiring, but in the long run, it is what keeps organizations standing when the initial excitement fades.

+

The views expressed herein are his own and do not necessarily reflect the opinion of his office as well as FINEX.

+

 

+

Reynaldo C. Lugtu, Jr. is the founder and CEO of Hungry Workhorse, a digital, culture, and customer experience transformation consulting firm. He is a fellow at the US-based Institute for Digital Transformation. He teaches strategic management and digital transformation in the MBA Program of De La Salle University.

+

rey.lugtu@hungryworkhorse.com

+]]>
+ + + + https://www.bworldonline.com/wp-content/uploads/2021/04/banking-and-finance-default-300x169.jpg
+ + NNIC records over 50M passengers in 2025 + https://www.bworldonline.com/corporate/2026/01/02/721872/nnic-records-over-50m-passengers-in-2025/ + + + Thu, 01 Jan 2026 16:01:23 +0000 + + + https://www.bworldonline.com/?p=721872 + + + NEW NAIA Infra Corp. (NNIC) said it handled 52.02 million passengers in 2025, with holiday travel driving overall growth at the Ninoy Aquino International Airport (NAIA).

+

“Managing higher passenger volumes requires both infrastructure and close coordination,” it said in a statement on Thursday. “The focus has been on improving flow, reducing bottlenecks and ensuring the airport can handle peak demand more effectively.”

+

December alone saw 4.86 million passengers, with 2.37 million international travelers and 2.5 million domestic passengers. Despite the surge, airport operations remained stable, the company said.

+

It did not provide comparative year-ago figures.

+

NNIC credited operational improvements introduced last year for the smooth handling of passengers. These include new biometric immigration gates, upgraded passenger processing systems and enhanced terminal facilities.

+

Data from the Manila International Airport Authority (MIAA) showed NAIA’s passenger volume for January to September 2025 rose 3.96% to 38.86 million from a year earlier. Domestic traffic grew 3.29% to 20.75 million, while international passengers increased 4.74% to 18.11 million. Over the same period, MIAA recorded 218,086 flights, down 0.6% from 2024. — Ashley Erika O. Jose

+]]>
+ + + + https://www.bworldonline.com/wp-content/uploads/2023/05/NAIA-passengers-300x200.jpg
+ + Rejecting worker ideas without creating hatred + https://www.bworldonline.com/labor-and-management/2026/01/02/721851/rejecting-worker-ideas-without-creating-hatred/ + + + Thu, 01 Jan 2026 16:01:09 +0000 + + + + + https://www.bworldonline.com/?p=721851 + + + There are individuals and teams that continue to create unwanted ideas that border on folly as if they’re testing management sincerity. Exactly how do we manage ideas without making them feel we are too harsh in declining their work? — Quiet Fox. 

+

First rule of the game? Don’t use unkind words, even if you’ve just received costly to implement or impractical suggestions. It’s difficult, but there’s always a way of deciding on each and every case by following certain guidelines that you’ve formulated when you started promoting, soliciting and receiving ideas.

+

If not, it’s not too late for you to adjust, change or even create new rules.

+

In today’s fast-paced business world, many dynamic organizations rely heavily on employee creativity and initiative. Chief executive officers know their managers can’t do it alone. The solution depends much on the active contribution of an army of employee problem solvers.

+

Linus Pauling (1901-1994), one of the greatest scientists of the 20th century, said: “The best way to have a good idea is to have a lot of ideas.” In other words, quantity precedes quality. That also means tolerating silly ideas under certain limitations.

+

For people managers, the challenge is delicate: how can you reject ideas without discouraging future contributions or creating resentment among employees?

+

BALANCING ACT
+
You have to do it with a mix of empathy, transparency and strategic communication. Rejecting an idea need not be a negative experience. When handled correctly, it can strengthen trust, motivate employees to keep contributing and foster a culture of collaboration. Here are some key strategies to achieve that balancing act:

+

One, make the process easy for the workers. How easy it is for an employee to submit an idea? Can it be done on a piece of paper or via e-mail with a brief explanation, that could be understood in less than five minutes? How about using a QR code or any internally developed app?

+

Two, pass the screening process to a triage. This alone insulates top management from harm. Acknowledge receipt within 24 hours. Authorize a three-person small management committee composed of a leader, supervisor and manager for each department. Let them do the cost-benefit analysis as many, ordinary workers aren’t skilled on it.

+

Three, separate the idea from the employees. Reject the bad idea from the contributor. However, be respectful. Regardless of your industry, be like Toyota that has the ideal, long-term two pillars of “Continuous Improvement” and “Respect for People,” which can’t be separated from one another.

+

Four, give credit and ownership to the right worker. The sponsor is the worker who’s doing the task every day and is undoubtedly the closest person to the issues. They know how to make things easy for them without sacrificing product quality and quantity. They must be allowed to witness the experimental process, with the help of their leaders, acting as coaches.

+

Five, implement right away after a successful pilot test. This applies if the idea requires zero, if not minimal investment. If you’re confident, do a company-wide rollout with the condition that it’s for further evaluation. If successful, write the standard operating procedure and circulate it with other stakeholders.

+

Six, be clear and specific about the rejection. Vague rejections are breeding grounds for confusion and disappointments. By simply saying, “That won’t work” at the outset leaves employees feeling dismissed and undervalued. Instead, explain why the idea cannot be implemented at that time.

+

Or you may say, “the idea is sound, but at this stage the cost outweighs the benefit.” Also, you may rethink the process to salvage something from an employee’s idea. At times, even weak ideas often contain a usable fragment.

+

POSITIVE CULTURE
+
The setting of your feedback can greatly influence how it’s received. For ideas that may be sensitive or disappointing, a private conversation is often the best option. This prevents embarrassment, protects morale and reinforces trust. Public rejections, especially in team meetings, can unintentionally discourage participation and generate resentment.

+

After rejecting an idea, it’s essential to reinforce a positive culture of idea-sharing. Make it clear that the employee’s contributions are valued and that future suggestions are welcome.

+

A simple statement like: “Even if this particular idea won’t move forward, I really value your perspective. Please continue bringing ideas to the table.”

+

Communication is not just about words. Tone, body language and facial expressions play a crucial role in how a message is received. Leaders should maintain a calm, neutral tone and avoid defensive or dismissive gestures. A sincere, approachable demeanor communicates respect and keeps the interaction constructive.

+

Finally, maintain a record of rejected and submitted ideas for future use. It demonstrates organizational commitment to innovation. Employees can see that their contributions are acknowledged and tracked, rather than discarded.

+

Lastly, if management only listens to “perfect” ideas, it will never hear the good ones.

+

Here’s wishing you fewer resolutions and better direction this New Year.

+

 

+

Consult Rey Elbo for free. E-mail elbonomics@gmail.com or DM him on Facebook, LinkedIn, X or via https://reyelbo.com. Anonymity is guaranteed, if requested.

+]]>
+ + + + https://www.bworldonline.com/wp-content/uploads/2021/04/LM-default-300x169.jpg
+ + CEBR: Philippines to be 24th largest economy by 2040 + https://www.bworldonline.com/infographics/2026/01/02/721861/cebr-philippines-to-be-24th-largest-economy-by-2040/ + + + Thu, 01 Jan 2026 16:00:28 +0000 + + + https://www.bworldonline.com/?p=721861 + + + The Philippines is expected to become the 24th largest economy globally by 2040, according to the latest edition of the World Economic League Table. Published by London-based think tank Center for Economics and Business Research (CEBR), the country’s gross domestic product (GDP) is projected to hit $1.5 trillion. This represents a nine-rank improvement from the country’s 2025 ranking of 33rd among 190 economies.

+

+]]>
+ + + + https://www.bworldonline.com/wp-content/uploads/2026/01/260102Global_Welt-thumb-300x169.jpg
+ + PHL market may kick off 2026 on cautious note + https://www.bworldonline.com/stock-market/2026/01/01/721817/phl-market-may-kick-off-2026-on-cautious-note/ + + + Thu, 01 Jan 2026 13:00:21 +0000 + + + + + + https://www.bworldonline.com/?p=721817 + + + PHILIPPINE STOCKS may start 2026 moving mostly sideways as trading activity is expected to remain thin due to the holidays and as the market awaits developments on the National Government’s budget for the year.

+

On Dec. 29, the last trading day for 2025, the bellwether Philippine Stock Exchange index (PSEi) dropped by 0.21% or 12.72 points to end at 6,052.92. Meanwhile, the broader all shares index increased by 0.24% or 8.58 points to 3,473.24.

+

Year on year, the PSEi was down by 7.29% or 475.87 points from its end-2024 finish of 6,528.79.

+

Philippine financial markets were closed on Dec. 30, Dec. 31, and Jan. 1 for Rizal Day and the New Year holidays.

+

As trading resumes on Friday, the market is expected to start the year on a quiet note amid the holiday lull, F. Yap Securities Investment Analyst Marky Carunungan said.

+

“For the first trading day of 2026, we expect the market to trade cautiously with a slight downside bias given a thin holiday liquidity and lingering uncertainty around the delayed signing of the 2026 budget,” he said.

+

“While broader fundamentals point to a gradual recovery later in the year, near-term sentiment may still remain fragile until there’s clarity on fiscal execution.”

+

Executive Secretary Ralph G. Recto said on Tuesday that President Ferdinand R. Marcos, Jr. and his team are reviewing the 2026 General Appropriations Act (GAA) and the changes made by lawmakers. Mr. Marcos is expected to sign the GAA on Jan. 5, forcing the country to operate on a reenacted budget in the first few days of 2026.

+

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said players could take cues from how other stock markets performed over the Philippine bourse’s three-day trading break.

+

“There is a chance for a start-of-the-year rally, depending on forecasts, especially on reform measures on anti-corruption and further improving governance standards — especially if these priority reform measures are taken seriously,” Mr. Ricafort said.

+

Meanwhile, for this year, analysts said the PSEi could continue to struggle to find its footing as economic uncertainties linger.

+

“There’s a chance that the market could rise to around 6,600-6,700 if we see decisive action on governance issues as well as a sustained trend of GDP (gross domestic product) growth above 5%. Conversely, there’s a risk of the index revisiting 5,600 or lower if economic growth stalls or fresh governance concerns emerge,” China Bank Capital Corp. Managing Director Juan Paolo E. Colet said.

+

“We expect the index to tread sideways between the 6,000 and 6,400 range as a multitude of headwinds, such as the slowdown in manufacturing activities, softer consumer spending, and tightening infrastructure disbursements which could taper economic growth once again,” AP Securities, Inc. Equity Research Analyst Shawn Ray R. Atienza added. — Alexandria Grace C. Magno

+]]>
+ + + + https://www.bworldonline.com/wp-content/uploads/2021/10/PSE-bell-300x200.jpg
+ China eyes stricter Scarborough Shoal measures, accuses PHL of reef damage https://www.bworldonline.com/the-nation/2026/01/01/721866/china-eyes-stricter-scarborough-shoal-measures-accuses-phl-of-reef-damage/ @@ -325,560 +1106,5 @@ https://www.bworldonline.com/wp-content/uploads/2024/06/car-factory-assembly-line-010919-300x164.jpg - - PPA awards contract to expand Bohol port - https://www.bworldonline.com/economy/2026/01/01/721909/ppa-awards-contract-to-expand-bohol-port/ - - - Thu, 01 Jan 2026 11:25:38 +0000 - - - - - https://www.bworldonline.com/?p=721909 - - - THE Philippine Ports Authority (PPA) said it awarded the P501.95-million Getafe Port Expansion project in Bohol to BNR Construction and Development Corp.

-

The regulator awarded the contract to the Mandaue-based construction company, which submitted the low bid among 11 contenders, PPA said in a notice of award dated Dec. 18.

-

BNR Construction will have 660 calendar days to complete the project, the PPA said. The project includes construction of the port operational area.

-

Getafe port in northern Bohol is opposite Cebu City on the Cebu Strait.

-

In 2024, the PPA said it earmarked up to P16 billion for infrastructure projects until 2028. The funds will be allocated for enhancing port efficiency and capacity, including 14 big-ticket projects targeted for completion within the period.

-

The PPA said cargo and passenger traffic last year have been stronger than expected, with targets expected to be exceeded due to the demand peak in the fourth quarter of 2025.

-

The regulator had targeted cargo throughput of 301.47 million metric tons, while container volume is anticipated to top eight million twenty-foot equivalent units. — Ashley Erika O. Jose

-]]>
- - - - https://www.bworldonline.com/wp-content/uploads/2021/09/PPA-logo-e1632308936624-300x210.jpg
- - Asian airlines seen leading industry’s growth in 2026 - https://www.bworldonline.com/economy/2026/01/01/721908/asian-airlines-seen-leading-industrys-growth-in-2026/ - - - Thu, 01 Jan 2026 11:25:17 +0000 - - - - https://www.bworldonline.com/?p=721908 - - - THE International Air Transport Association (IATA) expects the airline industry, particularly in Asia, to sustain growth in 2026, driven by strong demand across both passenger and cargo segments.

-

“The air transport industry continues to demonstrate resilience amid persistent non-fuel cost pressures and operational constraints,” IATA said in a report.

-

The airline trade association projects stronger revenue growth in 2026, as carriers adapt to softer yields by expanding ancillary services and sustaining high load factors through efficient fleet utilization.

-

“Cost discipline is central to sustaining profitability in this low-margin business. While fuel prices have stabilized, non-fuel costs, particularly labor and maintenance, are rising due to pilot shortages, wage inflation, and aging fleets,” IATA said.

-

Airlines in the Philippines continue to recover, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said, noting higher domestic passenger tariffs even with foreign tourist arrivals yet to return to pre-pandemic levels.

-

Passenger fuel surcharges have remained steady, with the Civil Aeronautics Board (CAB) maintaining the surcharge at Level 4 for the sixth month in January.

-

Jet fuel prices declined 3.8% to $86.73 per barrel for the week ending Dec. 26; on a year-on-year basis, the global average jet fuel price dropped 12.4%.

-

IATA projects the Asia-Pacific to lead global growth, as regional airlines report rising passenger traffic. For the nine months ending September, the CAB said air passenger volume rose 6.247% to 46.84 million driven by growth in domestic passenger traffic.

-

Domestic passenger volume was 24.95 million, up 5.36% from a year earlier. International passengers were up 7.25% at 21.89 million.

-

PAL Holdings, Inc., the operator of flag carrier Philippine Airlines, reported a rise in attributable net income of 33.58% to P9.03 billion for the first nine months, supported by passenger revenue of P116.56 billion, up from P115.66 billion.

-

Cargo and ancillary revenue contributed P6.71 billion and P12.67 billion, respectively.

-

Meanwhile, Cebu Air, Inc., the operator of budget carrier Cebu Pacific, recorded an attributable net income of P5.03 billion for the nine months, reversing a net loss of P12.05 billion a year earlier.

-

Consolidated revenue for the period climbed 78.3% to P66.90 billion.

-

Passenger revenue for the first nine months rose to P46.13 billion, more than double the P22.48 billion previously. — Ashley Erika O. Jose

-]]>
- - - - https://www.bworldonline.com/wp-content/uploads/2024/09/NAIA-pal-300x200.jpg
- - PHL food service sales seen rising 10% this year - https://www.bworldonline.com/economy/2026/01/01/721907/phl-food-service-sales-seen-rising-10-this-year/ - - - Thu, 01 Jan 2026 11:24:19 +0000 - - - https://www.bworldonline.com/?p=721907 - - - FOOD SERVICE sales in the Philippines are projected to increase 10% in 2026 to $15.4 billion, building on the sector’s recovery to pre-pandemic levels in 2025, according to the US Department of Agriculture (USDA).

-

In a report, the USDA said food service revenue in 2025 was estimated to have risen 8% to $14 billion from $13 billion in 2024. If realized, this would bring industry sales back to the levels recorded in 2019, before the COVID-19 (coronavirus disease 2019) pandemic.

-

For 2026, sales of full-service restaurants are projected to increase 3.23% to $2.18 billion.

-

The projected growth in full-service restaurant sales is attributed to the arrival of new international entrants, the development of innovative restaurant concepts, and increasing consumer demand for unique dining experiences.

-

The sales of limited-service restaurants are also projected to rise 10.23% to $9.52 billion this year.

-

According to the USDA, chicken-focused chains are driving growth in the limited-service sector. Asian, including Filipino, limited-service restaurants, as well as bakery, burger, and convenience store formats, are also showing strong performance.

-

The sales of street stalls and kiosks are also expected to grow 4.68% to $1.97 billion this year.

-

“Fueled by strong demand for quick, affordable food and beverage options, the enduring popularity of milk tea and grab-and-go coffee kiosks, and the widespread adoption of franchising models enable rapid expansion,” the USDA said.

-

Sales of cafés and bars are projected to rise 7.13% to $1.74 billion this year. If realized, this would represent a rebound from the 5.9% decline in sales last year.

-

According to the USDA, growth in the café and bar sector is driven by rising consumer mobility, the popularity of specialty coffee and tea shops, and the rising demand for innovative beverages and café experiences. — Vonn Andrei E. Villamiel

-]]>
- - - - https://www.bworldonline.com/wp-content/uploads/2022/05/dining-restaurant-300x200.jpg
- - Raising quality of labor-intensive jobs in services seen as key to growth, equity - https://www.bworldonline.com/economy/2026/01/01/721905/raising-quality-of-labor-intensive-jobs-in-services-seen-as-key-to-growth-equity/ - - - Thu, 01 Jan 2026 11:23:32 +0000 - - - https://www.bworldonline.com/?p=721905 - - - THE Philippine Institute for Development Studies (PIDS) said the government needs to channel its support to raising the quality of labor-intensive service jobs in retail, transport and hospitality to spur growth and improve equity.

-

In a Dec. 23 report, the government think tank said services, the largest contributor to gross domestic product and employment, have expanded mainly through subsectors with low productivity and wages.

-

“Enhancing productivity in labor-absorbing services is an essential priority for both growth and equity,” PIDS said.

-

The services sector expanded by 5.5% in the third quarter, against 6.3% a year earlier, the Philippine Statistics Authority said.

-

Wholesale and retail trade, transport and storage, accommodation and food services, and other low-productivity industries account for 73.6% of total services employment.

-

These subsectors are dominated by low- to medium-skilled jobs and pay below-average wages, it added.

-

PIDS also noted that 68% of female workers are in services, especially in the wholesale and retail trades, accommodation and food service activities.

-

“Improving the productivity of these sectors while ensuring women benefit from, rather than are disadvantaged by, productivity gains is essential to closing the gender gap,” it added.

-

“Services that are not necessarily big employers, but have high forward linkages, especially to the manufacturing sector, should also be a focus of policy reforms, as productivity improvements in these subsectors have positive spillover effects to the rest of the economy,” PIDS said.

-

In addition, the think tank said companies can lift productivity by improving management practices, investing in innovation, upgrading workforce skills and adopting new technologies.

-

Broader structural reforms, though outside the control of individual firms, are needed to create an operating environment that supports sector-wide upgrading, it said.

-

“A strategic framework that integrates key policy areas — labor market, enterprise and industry development, technology, innovation, and structural reform — can help maximize the impact of public interventions towards increasing productivity in services,” it said.

-

To address these challenges, PIDS said the government should use a Theory of Change framework to map how labor productivity in services can be improved.

-

This approach would guide the design and implementation of specific interventions.

-

“A logic model, such as a theory of change, provides the government a strategic framework to more effectively identify pathways to connect interventions to desired outcomes, rationalize its investments to assist firms and workers, and adopt appropriate policy levers,” PIDS said.

-

The paper “Increasing Labor Productivity in the Services Sector: Towards a Theory of Change and Some Design Options” was written by Ramonette B. Serafica, Queen Cel A. Oren, Emmanuel F. Esguerra, and Aniceto C. Orbeta, Jr. — Aubrey Rose A. Inosante

-]]>
- - - - https://www.bworldonline.com/wp-content/uploads/2021/04/grocery-supermarket-110519-300x164.jpg
- - PCC opens online reporting system to boost antitrust enforcement - https://www.bworldonline.com/economy/2026/01/01/721904/pcc-opens-online-reporting-system-to-boost-antitrust-enforcement/ - - - Thu, 01 Jan 2026 11:23:05 +0000 - - - https://www.bworldonline.com/?p=721904 - - - THE Philippine Competition Commission (PCC) said it has opened its case reporting system to the public, allowing individuals and businesses to submit reports of suspected anti-competitive conduct directly through its website.

-

In a statement, the PCC said the online platform, which opened to the public in December, allows users to file complaints and securely upload supporting documents without staff-assisted processing.

-

Developed with support from the Korea International Cooperation Agency, the system was unveiled in April last year to replace a multi-step process that required users to request access and wait for staff assistance before submitting reports.

-

PCC Chairman Michael G. Aguinaldo said the platform is intended to encourage public participation in competition enforcement by making reporting more accessible and secure.

-

“This system empowers the public to take part in safeguarding competition. By making reporting faster, simpler, and more secure, we are strengthening our collective effort to ensure fair markets for all,” Mr. Aguinaldo said in a statement.

-

The PCC enforces Republic Act No. 10667, or the Philippine Competition Act, which prohibits anti-competitive agreements, abuse of dominance, and mergers and acquisitions that substantially lessen competition.

-

The commission said opening the system to the public is expected to improve the detection of potential violations while reducing administrative barriers for complainants. — Vonn Andrei E. Villamiel

-]]>
- - - - https://www.bworldonline.com/wp-content/uploads/2021/12/PCC-logo-e1700152915531-300x179.jpg
- - Choco Mucho signs up Eya Laure - https://www.bworldonline.com/sports/2026/01/01/721859/choco-mucho-signs-up-eya-laure/ - - - Thu, 01 Jan 2026 11:06:13 +0000 - - - - https://www.bworldonline.com/?p=721859 - - - THE CHOCO MUCHO Flying Titans have caught one of the biggest, if not the biggest, fish in the Premier Volleyball League (PVL) pool — Eya Laure.

-

Ms. Laure officially signed with the Flying Titans right on the break of dawn on Thursday to usher in 2026, a year after parting ways with her former team, the disbanded Chery Tiggo.

-

The power-hitting Alas Pilipinas standout was acquired along with Jaila Atienza, setter Alina Bicar and Choco Mucho returnee Caitlin Viray that highlighted the popular club’s complete rebuild.

-

“A new era begins,” said the team on its social media account.

-

Choco Mucho is also expecting the return of its most dangerous weapon in Sisi Rondina, who took a leave and won the beach volley gold in the Southeast Asian Games a month ago in Thailand.

-

The four, along with Ms. Rondina, will join an already loaded roster headed by Maddie Madayag, Kat Tolentino, Des Cheng, Isa Molde, Deanna Wong and Tia Andaya.

-

Their arrival came after letting go of Royse Tubino, Bia General, Cherry Nunag and Aduke Agunsanya.

-

The retooled lineup should boost Choco Mucho’s stock as it aims to bounce back from a pair of forgettable performances — 10th in the PVL on Tour and ninth in the Reinforced. — Joey Villar

-]]>
- - - - https://www.bworldonline.com/wp-content/uploads/2026/01/EYA-LAURE-300x169.jpg
- - Sister teams set to clash in either bracket of PBA semis - https://www.bworldonline.com/sports/2026/01/01/721858/sister-teams-set-to-clash-in-either-bracket-of-pba-semis/ - - - Thu, 01 Jan 2026 11:05:49 +0000 - - - - https://www.bworldonline.com/?p=721858 - - - THE CHASE for the coveted Philippine Cup title in the PBA’s golden season is down to four.

-

And all that’s left are heavyweights that have taken turns ruling the centerpiece competition in the last five years.

-

On one side, it’s San Miguel Beermen (SMB), the defending champion and also the winner in 2022, taking on Barangay Ginebra, the kings of the 2020 All-Filipino.

-

On the other, it’s TNT, the 2021 rulers and runners-up in Season 49, and Meralco, the 2023 titlists.

-

It’s a pair of explosive best-of-seven affairs beginning on Sunday at the Smart Araneta Coliseum, pitting sister teams but fierce rivals from the MVP Group on one hand and sibling rivals from San Miguel Corp. on the other.

-

The Final Four also features a squad that made the most of its win-once advantage in the quarterfinals against an opponent that pulled off a twice-to-win reversal to get to this stage — No. 1 SMB versus No. 5 Ginebra and No. 3 TNT against No. 7 Meralco.

-

“In front of us is TNT. You know they’ve had their number quite a lot last year, they’ve won two championships (Season 49 Governors’ Cup and Commissioner’s Cup), very solid. It’s going to be a battle for us,” said Bolts coach Luigi Trillo after forging a date with the Tropang 5G with a 98-89 win over No. 2 Rain or Shine in the quarterfinal sudden death.

-

“And I think this is what they (players) want, they want to go through the best. So ngayon andun ’yung TNT. And I feel it’s also going to be a good series on the other side, ’yung Ginebra-San Miguel,” he added.

-

The Gin Kings took virtually the same path as the Bolts, beating No. 4 Converge a second time, 99-98 in overtime on Stephen Holt’s buzzer-beating winner from three-point arc, to advance.

-

Revenge may well be added motivation for the crowd darlings with their 4-3 loss to SMB in the same stage last season still fresh.

-

“We know them. They know us. And we took them to seven games last time. We’re going to try to flip the script this time around,” said Ginebra mentor Tim Cone. — Olmin Leyba

-]]>
- - - - https://www.bworldonline.com/wp-content/uploads/2026/01/SAN-MIGUEL-BEERMEN-300x200.jpg
- - Sidelined Jokić to test Nuggets’ resilience - https://www.bworldonline.com/sports/2026/01/01/721854/sidelined-jokic-to-test-nuggets-resilience/ - - - Thu, 01 Jan 2026 11:04:30 +0000 - - - - https://www.bworldonline.com/?p=721854 - - - The Nuggets pulled off a thrilling escape against the Raptors in the absence of Nikola Jokić and with other key players nursing injuries.

-

Compelled to compete without the National Basketball Association’s leading candidate for Most Valuable Player (MVP), the Nuggets scraped out a 106-103 win over Toronto that called for both a celebration in the moment and a moment to ponder their uncertain future.

-

Jokić, three-time MVP and the engine of everything the Nuggets run on the court, will miss action until late January at the earliest. He hyperextended his left knee in the Nuggets’ loss to the Heat, and tests revealed a bone bruise, but no structural damage requiring surgery. During the time he is sidelined, the Nuggets will be negotiating at least 16 games, the results of which are certain to reshape the pecking order in the highly competitive West.

-

What makes Jokić’s absence so jarring goes beyond the box-score brilliance he provides (near-historic averages in points, rebounds, and assists that have him among the league leaders on all three fronts), but the gravitational pull he exerts on every possession. Teams without their best player typically limp through the standings, and the Nuggets’ recent history proves it; they’re a pitiful 13 and 23 in contests he has missed over the past five seasons.

-

As such, the victory against the Raptors on the road was as much a patch job as a statement of resilience. Peyton Watson stepped into the spotlight with 24 points, Jamal Murray delivered 21, and the Nuggets survived a late surge by the hosts that ended with a buzzer-beating trey waved off on review. Yet even as they got out of Scotiabank Arena with a win, their experience highlighted the absence of any margin for error shrink. They were without Jokić AND three other starters, and then needed late free throws and poise down the stretch to prevail.

-

To be sure, the Nuggets had already been flirting with inconsistency, dropping four of six before Jokić’s sidelining and trekking through a long road swing that figured to become a test of depth. Make no mistake: Opponents now sense blood in the water, aiming to take advantage of the turn of events and not necessarily pull them out of playoff position, but to make the climb steeper. Certainly, they will be forced into uncomfortable lineups and mismatches that their foundational piece erases by rote.

-

Still, the Nuggets’ response against the Raptors demonstrated an intangible that coaches and contenders talk about this time of year: belief. It was not a fluke. It was an amalgamation of timely effort, brilliance, and cohesion to weather late pressure. But confidence, like momentum, is fragile, and one month without Jokić will test every ounce of it. It doesn’t help that the January schedule will feature tough opponents. Every possession will feel like a referendum on their identity and depth. For now, they cling to the hope that they can hold the fort until their leader returns in time to anchor a title push.

-

 

-

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and human resources management, corporate communications, and business development.

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- - - - https://www.bworldonline.com/wp-content/uploads/2021/04/sports-basketball-default-300x169.jpg
- - DoT denies claims over magazine cover allegations - https://www.bworldonline.com/the-nation/2026/01/01/721787/dot-denies-claims-over-magazine-cover-allegations/ - - - Thu, 01 Jan 2026 06:50:10 +0000 - - - https://www.bworldonline.com/?p=721787 - - - The Department of Tourism (DoT) said on Wednesday that the allegations surrounding a magazine cover featuring Tourism Secretary Esperanza Christina G. Frasco are false and misleading, following claims made by a photographer online.

-

“Any claim suggesting that the Department or the Secretary used public office or resources for personal promotion is false, misleading, and expressly denied,” the department said in a statement.

-

“The Department views the dissemination of these false claims with serious concern,” it added.

-

In a now-deleted Facebook post by Max Abasalo, a photographer allegedly commissioned by the department to photograph “almost 320 tourist spots” nationwide, he expressed disappointment upon seeing the cover of the magazine Philippine Topics.

-

“When you were tasked to shoot Region 1 to Region 13… Almost 320 tourist spots, 236,000 photos, and 6,500 video materials, only for them to use this,” he said in Filipino.

-

The DoT, however, denies that it has authority over the publication in question, which is privately owned.

-

“The DOT clarifies that it did not supply the photograph in question to Philippine Topics,” the department said. “At no time did the Department instruct, select, approve, or endorse any photograph for the magazine.”

-

“Any implication that the DOT chose or favored the use of an image of the Secretary over destination-focused materials is entirely false and without factual basis,” it added.

-

The department also noted that the privately run publication independently covered the World Expo Osaka 2026 and all of the activities related to the event.

-

“The Department did not contract, pay, commission, or direct the magazine to produce its cover or feature story,” it said. “The content, including the selection of images and text, was produced entirely at the magazine’s editorial discretion.”

-

The World Expo Osaka 2025 was a major global event held on Yumeshima Island from Apr. 13 to Oct. 13. It showcased cutting-edge innovations, global cultural experiences, and advanced technologies to millions of visitors worldwide. — Almira Louise S. Martinez

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- - - - https://www.bworldonline.com/wp-content/uploads/2026/01/Christina-Garcia-Frasco-300x200.jpg
- - Filipino teacher earns royal recognition from King Charles III   - https://www.bworldonline.com/education/2025/12/30/721749/filipino-teacher-earns-royal-recognition-from-king-charles-iii/ - - - Tue, 30 Dec 2025 09:31:58 +0000 - - - https://www.bworldonline.com/?p=721749 - - - A London-based Filipino teacher was named Member of the Most Excellent Order of the British Empire (MBE) by His Majesty King Charles III for his contributions to the education sector in the United Kingdom (UK).  

-

Edison David, an executive headteacher in the London Borough of Lambeth, and a lead inspector for Ofsted, the UK’s national education body, was part of the 2025 New Year Honors List, published in the Gazette, the official newspaper of the Crown.  

-

“I wasn’t doing my job, thinking that I would get an MBE one day; not even in my dreams, that I think that I’m going to get an MBE because this is such an ultimate accolade,” Mr. David told BusinessWorld in an interview on Tuesday.   

-

“I make sure that I work hard on a daily basis, I always give my best to everything that I do because if I don’t start anything at the point of excellence, there’s no point in doing it,” he added.   

-

Before moving abroad, Mr. David began his teaching career in a public school in Tarlac City in 1994.   

-

“I think my experience is a testament that anything and everything is possible if you work hard,” he said. “It’s not one thing that happens overnight, you really have to work hard for it; the accolades come as a consequence of your hard work.”   

-

“Never in my wildest dreams have I thought that first and foremost I’m going to be a school leader in the United Kingdom, but also that I will be given a membership to the most excellent order of the British Empire,” he added.  

-

The MBE is the third-highest ranking Order of the British Empire level, excluding a knighthood/damehood, trailing behind Commander of the Order of the British Empire (CBE) and Officer of the Most Excellent Order of the British Empire (OBE).  

-

An individual is recognized as an MBE for their “outstanding achievement, or service to the community that has had a long-term, significant impact.”   

-

Among the known personalities appointed an MBE are English singer-songwriter Adele and professional football manager and former player Steven Gerrard.  

-

In 2023, Filipino nurse Brenda Deocampo was also awarded the MBE medal for her excellence in managing the admitting ward during the COVID-19 pandemic at Charing Cross Hospital.  

-

RECOMMENDATIONS TO PHL’S EDUCATION LEADERS 
-
Before receiving his recognition from the UK, Mr. David said he had already reached out to different government officials in the Philippines, including Senator Paolo Benigno “Bam” Aquino IV, who heads the Senate education committee, to help improve the country’s education system.   

-

“I think what is most important as well for the Philippines itself is probably a recognition that there are Filipinos out there who have earned a lot of knowledge and wisdom that they can share within the Philippine education system,” he said.   

-

“The recommendations I gave are actually very clear, they’re quite precise,” he added. “If they have time to read them, they will find the wisdom and the knowledge in it because it’s actually backed by evidence.”   

-

One of the key recommendations made by Mr. David tackled the importance of synthetic phonics and the systemized approach to its implementation nationwide.   

-

“I think every single school in the country, in the Philippines, should be able to teach synthetic phonics as a way,” he said. “There should be a comprehensive reading program that, first and foremost, relies on synthetic phonics.”   

-

“The ability to discern and really understand what the text is actually telling you involves the improvement of skills around inference and deduction, and most basically, the ability to decode as fluently as possible,” he added.  

-

Data from the Second Congressional Commission on Education (EDCOM 2) found that about 24.8 million Filipinos are functionally illiterate or those who struggle to comprehend and use written information in daily tasks. — Almira Louise S. Martinez  

-]]>
- - - - https://www.bworldonline.com/wp-content/uploads/2025/12/edison-david-300x200.jpg
- - PHL net external liability position narrows to $58.2 billion at end-September - https://www.bworldonline.com/banking-finance/2025/12/30/721742/phl-net-external-liability-position-narrows-to-58-2-billion-at-end-september/ - - - Tue, 30 Dec 2025 09:05:18 +0000 - - - - https://www.bworldonline.com/?p=721742 - - - THE PHILIPPINES’ international investment position (IIP) was at a net external liability of $58.2 billion as of September 2025, narrowing from the previous quarter, the Bangko Sentral ng Pilipinas (BSP) said.

-

Central bank data showed that end-September’s net liability position was 13.2% narrower than the $67 billion seen at end-June. It was also down by 7.1% from the $62.7 billion logged a year prior.

-

“The lower net liability position reflects higher external assets and lower foreign obligations,” the BSP said in a statement released late Monday.

-

This corresponds to 12.1% of the country’s gross domestic product, lower than the 14.1% share recorded a quarter prior.

-

The IIP is a gauge of the economy’s external exposure, providing a snapshot of the value of its foreign financial assets and liabilities at a given point in time. The net position refers to the difference between assets and liabilities and represents either a net claim on or a net liability to the rest of the world.

-

“The IIP serves as an important indicator of the country’s financial links with the rest of the world, helping to assess external vulnerability and resilience by showing what the country owns and owes internationally,” the central bank said.

-

The country’s investments in foreign assets increased by 1.9% to $263.9 billion at end-September from $259 billion at end-June and by 3.3% from $255.5 billion a year earlier.

-

“The country’s stock of external financial assets rose primarily due to a 2.9% increase in reserve assets from $106 billion in end-June 2025 to $109.1 billion in end-September 2025,” the BSP said.

-

Of the total, 43% or $113.6 billion came from the BSP, while 15.6% or $41.2 billion were from banks. Other sectors invested a total of $109.1 billion during the period or 41.3% of the total.

-

By type of instrument, the bulk of residents’ foreign investments were reserve assets valued at $109.1 billion (41.3% of the total), followed by debt instruments at $42.4 billion (16.1%), debt securities $38.9 billion (14.7%), equity capital at $36.7 billion (13.9%), currency and deposits at $15 billion (5.7%), loans at $11.9 billion (4.5%) and equity securities at $7.7 billion (2.9%).

-

Meanwhile, foreign investments in Philippine assets went down by 1.2% to $322.1 billion at end-September from $326 billion a quarter ago. Year on year, it climbed by 1.2% from $318.2 billion.

-

By sector, the general government accounted for 27.9% or $89.9 billion of the total external financial liabilities during the period. This was followed by banks with $39.4 billion (12.2%), the BSP with $3.9 billion (1.2%) and other sectors with $188.9 billion (58.6%).

-

Foreign loans made up 25% or $80.5 billion of foreign investments in Philippine assets at end-September. Other forms included nonresidents’ investments in debt instruments amounting to $73.5 billion (22.8%), investments in debt securities at $59.4 billion (18.4%), equity capital at $59.3 billion (18.4%) and equity securities at $34.7 billion (10.8%).

-

The national government remained a net debtor with $89.9 billion in liabilities as of Septmber, while other sectors, such as other financial corporations, nonfinancial corporations, and households and nonprofit institutions serving households, had $79.8 billion in external financial liabilities.

-

On the other hand, the central bank stood as a net lender during the period, extending $109.7 billion worth of resources worldwide, while banks lent $1.8 billion. — Katherine K. Chan

-]]>
- - - - https://www.bworldonline.com/wp-content/uploads/2023/10/BSP_3825-300x200.jpg
- - BSP told to monitor banks’ exposure to manufacturing, public sector - https://www.bworldonline.com/top-stories/2025/12/30/721727/bsp-told-to-monitor-banks-exposure-to-manufacturing-public-sector/ - - - Tue, 30 Dec 2025 08:23:52 +0000 - - - - - https://www.bworldonline.com/?p=721727 - - - The International Monetary Fund (IMF) urged the Bangko Sentral ng Pilipinas (BSP) to closely monitor banks’ exposure to the manufacturing and public sectors amid lingering uncertainty over global trade policies.

-

In a report following its Article IV Consultation with the Philippines, the IMF noted that the manufacturing sector’s earnings remain subdued and global trade woes pose risks to manufacturing and wholesale or retail lending.

-

“The earnings in the manufacturing sector have been weak and the soundness of manufacturing and wholesale or retail loans, accounting for about 19% of domestic loans at end-August 2025, could be affected by adverse global trade developments,” it said.

-

Since Aug. 7, the US has been imposing a 19% tariff on most Philippine goods, the same rate imposed on goods from Cambodia, Malaysia, Indonesia and Thailand.

-

The US is usually the top destination for Philippine exports.

-

Latest central bank data showed that banks’ granted P1.179 trillion in loans to the manufacturing sector at end-October, equivalent to 8.5% of the P13.793-trillion total bank lending during the period.

-

Banks also lent P1.58 trillion to wholesale and retail trade in the 10-month period, accounting for 11.5% of the total loans.

-

The S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI) fell sharply to 47.4 in November, a reversal from the 50.1 in October. This was the steepest drop in over four years as production and new orders declined in November.

-

At the same time, the IMF said the central bank should track household debt as low savings rates among households add to the financial system’s vulnerabilities.

-

“Household debt, buoyed by robust growth in real estate loans, rapid growth in bank credit card and salary loans, and increased credit access through NBFIs (nonbank financial institutions) and digital finance warrants close monitoring, given low household saving rates,” it said. “So does banks’ exposure to the public sector, which has increased since the pandemic.”

-

Latest BSP data showed that consumer loans climbed by 21.26% year on year to P3.537 trillion as of September.

-

CORPORATE TIES
-
Meanwhile, the IMF said the financial system may also be more vulnerable to risks stemming from banks’ close ties with the corporate sector.

-

“Banks’ interconnectedness with the corporate sector, including through complex conglomerate structures, may also expose the financial system to risks,” it said. “NBFIs, some of which are not supervised by the BSP, are relatively small, but have expanded lending activities to real estate, consumer loans, and micro, small and medium-sized enterprises (MSMEs).”

-

The Financial Stability Coordination Council earlier said that it has recently observed tighter connections between the financial system and nonfinancial corporations.

-

However, the FSCC noted that associated risks remain from trends in the housing market and leverage in corporate and household sectors, though cushioned by banks’ robust capital, healthy liquidity, and sufficient loan loss provisioning.

-

Meanwhile, the IMF said the Philippines should improve its macroprudential policy framework to mitigate potential risks and vulnerabilities.

-

“Replacing the cap on commercial real estate exposures with a sectoral systemic risk buffer would help capture broader risks in the real estate sector and provide banks with price-based incentives to align their loan portfolios and capital buffers with systemic risk; though its implementation would need to ensure that there are no unintended changes in the macroprudential stance,” it added.

-

At end-September, the banking system’s real estate exposure ratio stood at 19.54%, down from 19.61% at end-June and 19.55% last year. The BSP has set a threshold for banks’ real estate lending at 25% of their total loan portfolio.

-

Central bank data likewise showed that past due real estate loans climbed by 7.06% year on year to P158.619 billion at end-September from P148.157 billion previously.

-

This, as past due residential real estate loans rose by 5.16% to P110.379 billion, while past due commercial real estate loans went up by 11.7% to P48.24 billion. — Katherine K. Chan

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- - Recto says Palace now reviewing 2026 national budget - https://www.bworldonline.com/top-stories/2025/12/30/721726/recto-says-palace-now-reviewing-2026-national-budget/ - - - Tue, 30 Dec 2025 08:22:28 +0000 - - - - - https://www.bworldonline.com/?p=721726 - - - By Chloe Mari A. Hufana, Reporter

-

The Philippine executive branch is now reviewing the 2026 national budget, a process that could temporarily place the government under a reenacted budget in the first few days of January, Executive Secretary Ralph G. Recto said.

-

President Ferdinand R. Marcos, Jr. and his team are scrutinizing the 2026 General Appropriations Act (GAA) to account for changes made by lawmakers from the originally submitted National Expenditure Program (NEP), Mr. Recto said.

-

“We will ensure that the 2026 GAA will satisfy not only the legal and technical requirements but, more importantly, the needs of the Filipino people,” he added in a statement, noting the review will take about a week.

-

Mr. Marcos is expected to sign the spending plan on Jan. 5, forcing the country to briefly operate on a reenacted budget in the first few days of 2026.

-

The 2026 national budget has been subjected to more scrutiny following allegations of corruption-tainted insertions in this year’s budget.

-

As the country probes a graft scandal, Mr. Marcos had ordered Congress to be more transparent in crafting the national budget. Among these measures included the upload of budget documents online, a livestream of bicameral proceedings, and the involvement of civil society in budget deliberations.

-

“The public is assured that a brief period under a reenacted budget will not disrupt government operations,” Mr. Recto said. “This deliberate review safeguards fiscal discipline and ensures that taxpayers’ hard-earned money is spent wisely and translated into benefits for the Filipino people.”

-

Congress ratified the P6.793-trillion 2026 national budget, formally approving the bicameral conference committee report and concluding what had been a contentious legislative process, on Monday.

-

Lawmakers moved quickly in both chambers, with the Senate and House of Representatives clearing the measure largely by voice vote.

-

Senate Finance Committee Chair Sherwin T. Gatchalian said the spending plan prioritizes education, health, and agriculture, with increased allocations aimed at expanding classroom construction, school-feeding programs, healthcare services and support for farmers.

-

Hansley A. Juliano, a political science lecturer at the Ateneo de Manila University, said the budget process takes time and the administration is pushing for swift action, but stressed that the law and the Constitution are clear in giving the President only 30 days to act on a bill before it automatically lapses into law.

-

“The speed they are working with here may be less about review and more catching up with public perception,” he said via Facebook Messenger.

-

“The credibility of Mr. Marcos in this is already where it is at, it is already not in a good place. It either stays there, or it goes up depending on whether services are delivered, and the public is satisfied by his upcoming responses to investigation.”

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- - - - https://www.bworldonline.com/wp-content/uploads/2025/12/General-Appropriation-Act-2026-300x200.jpg
- - DTI eyes trade, investment opportunities as Philippines chairs ASEAN - https://www.bworldonline.com/top-stories/2025/12/30/721714/dti-eyes-trade-investment-opportunities-as-philippines-chairs-asean/ - - - Tue, 30 Dec 2025 08:07:45 +0000 - - - - - https://www.bworldonline.com/?p=721714 - - - The Philippines is preparing to leverage its Association of Southeast Asian Nations (ASEAN) chairmanship in 2026 to strengthen trade and investment ties within the region, the Department of Trade and Industry (DTI) said.

-

Trade Secretary Ma. Cristina A. Roque told reporters that the Philippines’ assumption of the chairmanship will allow ASEAN partners to gain a closer look at the country’s business landscape and regulatory environment.

-

“Sometimes, we just meet them in their country, or they send deputies or representatives. Not like now, they’ll really see how everything is — the landscape, the setup, how everything goes,” she said.

-

As part of its engagement strategy, the DTI plans to organize a major business-matching initiative. Ms. Roque said priority sectors include renewable energy, minerals and semiconductors.

-

The agency also plans to highlight the creative economy, women-led businesses, and micro, small, and medium enterprises (MSMEs), as well as digitalization and artificial intelligence initiatives.

-

Meanwhile, Ms. Roque said the DTI is also preparing to conclude negotiations on the ASEAN-Canada Free Trade Agreement (FTA). 

-

“The countries’ leaders have been in talks (regarding the FTA). We just have to get started,” she said.

-

The ASEAN-Canada FTA, for which negotiations started in 2021, is expected to expand market access and boost investments between the Asian bloc and the North American country.

-

According to the DTI, the FTA would expand the Canadian market for Philippine exports, particularly electronic products and agricultural goods. 

-

The FTA would also open more opportunities for Philippine companies to invest in Canada’s technology, natural resources, and service sectors. — Vonn Andrei E. Villamiel

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- - - - https://www.bworldonline.com/wp-content/uploads/2025/12/ASEAN-PHL-2026-300x200.jpg
- - Three stations added to EDSA Busway - https://www.bworldonline.com/economy/2025/12/30/721707/three-stations-added-to-edsa-busway/ - - - Tue, 30 Dec 2025 08:04:57 +0000 - - - - - - https://www.bworldonline.com/?p=721707 - - - The Department of Transportation (DoTr) is set to begin the construction of three more stations for the Epifanio de los Santos Avenue (EDSA) Busway by the first quarter.

-

“We will have three (new) EDSA Busway stations next year… We will start the construction by 2026, we just awarded the (contract) this month,” Undersecretary for Road Transport and Infrastructure Mark Steven C. Pastor said in a statementn Tuesday.

-

The additional stations are in Cubao, Magallanes and Parañaque Integrated Terminal Exchange (PITX), he said, adding that the construction of these new stations will be completed by the fourth quarter of 2026

-

The DoTr estimates that the EDSA Busway served more than 63 million passengers in 2024, or about 177,000 commuters daily.

-

The EDSA Busway, a dedicated bus lane along Metro Manila’s main ring road, will eventually have 23 stations operating round-the-clock.

-

The DoTr said the new busway station at Kamuning will be inaugurated by the first quarter.

-

Mr. Pastor said the new Kamuning station will be equipped with elevators and escalators to help improve accessibility.

-

Earlier this year, the DoTr announced that it is working on the P89-million Kamuning footbridge in Quezon City designed to connect to EDSA Busway.

-

The DoTr said the upgrade of the footbridge is also expected to allow seamless access for Metro Rail Transit Line 3 and busway passengers, with the footbridge linking to the EDSA busway stop. — Ashley Erika O. Jose

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- - Fil-Chinese chamber sees tax audit reform as positive signal to global investors - https://www.bworldonline.com/economy/2025/12/30/721706/fil-chinese-chamber-sees-tax-audit-reform-as-positive-signal-to-global-investors/ - - - Tue, 30 Dec 2025 08:03:19 +0000 - - - - - - https://www.bworldonline.com/?p=721706 - - - By Aubrey Rose A. Inosante, Reporter

-

The Federation of Filipino-Chinese Chambers of Commerce and Industry, Inc. (FFCCCII) said recent reforms to the tax audit process at the Bureau of Internal Revenue (BIR) send a positive signal to global investors.

-

FFCCCII President Victor T. Lim said the group welcomes the “positive reforms” in the BIR designed to curb the misuse of Letters of Authority and related audit instruments, which are documents issued to revenue officers authorizing them to inspect company books.

-

“Secretary Go’s decisive action transcends mere procedural adjustment; it is an investment in confidence itself,” Mr. Lim said in a statement Tuesday, referring to Finance Secretary Frederick D. Go..

-

Mr. Go said the Department of Finance is seeking to limit the number of BIR offices authorized to issue letters, and will create a centralized digital platform to verify the authenticity of these LoAs and mission orders.

-

BIR Commissioner Charlito Martin R. Mendoza had ordered the suspension of field audits in November, which require the issuance of such documents.

-

“By instituting greater transparency and accountability in tax audit processes, we protect the integrity of our institutions and fuel the confidence that leads to job creation, innovation, and shared national progress,” Mr. Lim said.

-

The group said investor morale is boosted by fair play and clear rules, but arbitrary enforcement undermines confidence and growth.

-

FFCCCII also flagged practices such as audits that exceed their scope, overlapping investigations, and weak digital traceability in regulatory issuances as sources of uncertainty that discourage compliance and capital inflows.

-

Mr. Go’s move addresses these issues, reinforcing due process and accountability in state power, it said.

-

“These reforms are also a powerful signal to the international investment community. They demonstrate the Philippines’ commitment to evolving as a rules-based, predictable, and fair destination for capital,” it said.

-

“Protecting investors—foreign and domestic alike—from arbitrary administrative actions is not a concession; it is a cornerstone of competitive modernity and a prerequisite for long-term economic partnerships.”

-

Philippine Exporters Confederation, Inc. President Sergio R. Ortiz‑ Luis said he hopes the BIR will address the selective issuance of LoAs and reduce the overall number of issuances.

-

“From my point of view as an exporter, the LoA issue has been addressed, I hope it does not come back after December’ maybe there could be duplication of issued LoAs. I hope there is only one LoA issued,” Mr. Ortiz-Luis said by phone last week.

-

Mr. Go also said the government is seeking to the frequency of LoAs issued to once a year.

-

“Sometimes, the issuance of LoAs seems selective, with the same ones targeted year after year, and even different BIR branches issuing them. I hope this will be addressed,” he added.

-

Mr. Ortiz‑ Luis a recovery in investor confidence will depend on the government showing resolve in addressing corruption in infrastructure projects.

-

“First and foremost, confidence can be regained if there is a showing… that it can solve this problem of corruption which obviously is not doing very well now,” he said.

-

“The year is about to end, and they’re still waiting for the masterminds. Nothing clear has come out yet on whether they will be charged or not,” he added.

-

British Chamber of Commerce Philippines Executive Vice Chairman Chris Nelson said it may be challenging to improve investor confidence in 2026.

-

“I think what we have to see is a clear movement forward which the government should try to do,” he said, describing the flood control mess as “floodgate,” a reference to the Watergate political scandal that brought down US President Richard M. Nixon.

-

Mr. Nelson also said that passage of key legislation, such as a general tax amnesty, and continued outreach and engagement may encourage investor confidence.

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- - Cold storage hubs due for completion in Bicol, Mindoro, Taguig, Cabanatuan - https://www.bworldonline.com/economy/2025/12/30/721705/cold-storage-hubs-due-for-completion-in-bicol-mindoro-taguig-cabanatuan/ - - - Tue, 30 Dec 2025 08:03:05 +0000 - - - - - https://www.bworldonline.com/?p=721705 - - - The Department of Agriculture (DA) said four major cold storage facilities in various locations are due for completion next year.

-

The DA said cold storage facilities with a capacity of 4,000 to 5,000 pallet positions each are being constructed in Pili, Camarines Sur; San Jose, Occidental Mindoro; Taguig City; and Cabanatuan City.

-

The department said it will also roll out some 60 modular cold storage units, each the size of a standard 40-foot shipping container and designed to be easily transportable.

-

“This is the first time that the DA will roll out this massive cold storage system. All of these will be deployed and finished next year,” Agriculture Secretary Francisco Tiu Laurel, Jr. told reporters at a briefing last week.

-

Aside from cold storage hubs, the DA is also expanding the network of drying and rice processing systems, to reduce losses and improve the quality of agricultural produce.

-

The DA said it completed the construction of 145 rice processing systems (RPS) between 2023 and 2025, with nine more units expected to be operational by March. It is also planning to build 370 additional drying systems in major rice-producing provinces.

-

Rice processing systems are integrated facilities that include mechanical dryers, rice mills, and related equipment designed to improve the efficiency of drying and milling palay (unmilled rice).

-

Mr. Laurel said the new facilities are expected to result in the recovery of about 7% more rice during processing, thereby increasing farmer incomes.

-

“The difference between the price of wet and dry palay is P4 to P5. If the cost to dry palay is just P2, that means there’s an additional P2 for farmers,” he said. — Vonn Andrei E. Villamiel

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- - LIMA Technology Center warehouse project starts construction with cost estimated at P950 million - https://www.bworldonline.com/economy/2025/12/30/721704/lima-technology-center-warehouse-project-starts-construction-with-cost-estimated-at-p950-million/ - - - Tue, 30 Dec 2025 08:02:46 +0000 - - - - https://www.bworldonline.com/?p=721704 - - - Amplefield Malvar, Inc. has started building a P950-million warehouse complex at the LIMA Technology Center in Batangas, the Philippine Economic Zone Authority (PEZA) said.

-

PEZA said in a social media post that groundbreaking for the warehouse project took place on Dec. 17, coinciding with the 30th anniversary of CAM Connectivity (Phils.), Inc., an affiliate of Amplefield Malvar and a PEZA-registered enterprise.

-

The project involves the construction of 13 warehouses intended for sale or lease to PEZA-registered enterprises.

-

According to PEZA, the development is expected to significantly expand quality industrial space for export-oriented and supply-chain-driven locators.

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PEZA Director General Tereso O. Panga, who was present at the groundbreaking, said the project highlights the agency’s commitment to supporting investors. — Vonn Andrei E. Villamiel

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- - No regrets for Norwood after premature exit during final season - https://www.bworldonline.com/sports/2025/12/30/721701/no-regrets-for-norwood-after-premature-exit-during-final-season/ - - - Tue, 30 Dec 2025 07:58:22 +0000 - - - https://www.bworldonline.com/?p=721701 - - - It’s the opposite of what he hoped for but Rain or Shine veteran Gabe Norwood isn’t harboring ill feelings after a quarterfinal exit marred his final bow.

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After all, Norwood’s 17-year career in the PBA – all with the Elasto Painters – is filled with a lot of great memories.

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“I mentally pictured this (last game) differently, I thought it was going to be a championship and you know kind of a more joyful situation But I’ve been blessed. I can’t complain at all,” he said.

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Norwood, who turned 40 in February, tagged the Season 50 Philippine Cup as his “Final Flight.” The 6-foot-6 swingman is leaving behind a legacy highlighted by two PBA championships, inclusion to the All Star Game 11 times, All-Star Game MVP and Defensive Player of the Year accolades in 2010, Rookie of the Year and Mythical Second Team in 2009, the PBA All-Defensive Team seven times and the Sportsmanship Award three times.

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“He’s the epitome of loyalty and decency and being a true professional,” said coach Yeng Guiao of Norwood. “Madalas ko sabihin na wala kang maipipintas kay Gabe, eh, kahit sa anong bagay.”

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“I pride myself as a pretty loyal person, especially if loyalty (is) shown to me and  Rain or Shine  did  that since Day One. Winning isn’t easy in the PBA and I think we all understand the difficulties that may come with resources and things like that.   But Rain or Shine finds ways to compete. And I take a lot of pride in that. I play for underdogs my whole career. I like being the underdog, but it makes winning that much more special, said Norwood.

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They may have fallen short of giving Norwood a happy exit but the E-Painters will honor him by retiring his familiar No. 10.

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“We actually proposed to retire his number, as a sign of recognition and respect for what he’s done. I think management would be very willing to do that,” said Guiao.

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Prior to his swan song, Norwood was serving ROS as an assistant coach. Guiao said it’s up to the ROS lifer if he wants to continue in this capacity.

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Norwood is open but for now, fatherhood is his main job.

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“I want to definitely stay around the game, with Batang Gilas as of now and see where that goes, on the coaching side,” he said.

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“But ultimately I got to be the best dad I can be. Put my kids in the best situation they can be in to grow as young men, maximize their talents and what they’re into. So that’s my first priority and then anything after that is, you know, just   icing on the cake. So family first and figure out the basketball stuff.” — Olmin Leyba

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