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 - Sun, 18 Jan 2026 04:30:53 +0000 + Wed, 21 Jan 2026 03:48:12 +0000 en-US hourly @@ -20,657 +20,538 @@ 1 https://wordpress.org/?v=6.9 - DepEd reports substantial gains after pilot run of reading program - https://www.bworldonline.com/education/2026/01/18/724743/deped-reports-substantial-gains-after-pilot-run-of-reading-program/ + Empowering content creators, supporting livelihoods at Nestlé Professional’s first-ever TikTok affiliates event + https://www.bworldonline.com/spotlight/2026/01/21/725529/empowering-content-creators-supporting-livelihoods-at-nestle-professionals-first-ever-tiktok-affiliates-event/ - Sun, 18 Jan 2026 04:30:53 +0000 - - - https://www.bworldonline.com/?p=724743 - - - The Department of Education (DepEd) reported on Friday a ‘substantial’ literacy improvement among learners in Zamboanga Peninsula, following the pilot implementation of the Bawat Bata Makababasa Program (BBMP).

-

“The lesson here clearly shows that when you focus on a child, give them time, and provide the right support, they learn,” Education Secretary Juan Edgardo “Sonny” M. Angara said in Filipino in a news release.

-

“This is not a miracle—it is the result of hard work carried out collectively by teachers and the community,” he added.

-

The nationwide literacy crisis is one of the key factors that fueled the launch of the BBMP program. Data from the Second Congressional Commission on Education (EDCOM 2) in December 2025 showed that only 15% of students in grades 1 to 3 are grade-level readers, while 85% are considered “struggling readers.”

-

The BBMP program is an initiative that aims to help struggling readers reach grade-level proficiency through a multi-sectoral approach involving teachers, volunteer tutors, parents, barangay officials, medical professionals, and private sector partners.

-

The program was piloted in elementary schools across Region 9 as part of the agency’s 2025 Summer Program and is soon to be rolled out nationwide under the Academic Recovery and Accessible Learning (ARAL) Program.

-

“Without the program, data showed that many learners would have experienced learning losses during school breaks instead of gains,” the DepEd said.

-

The post-program report, which was a collaboration between the World Bank and DepEd, showed that learning gains under the BBMP were estimated to be four to five times faster than those typically achieved through regular classroom instruction over a comparable timeframe.

-

The report also underscored that among grade 2 students in Filipino, grade-level readers increased from 2.23% to 26.22%, about 24% increase after completion of the program.

-

Meanwhile, the reading proficiency levels of learners also rose from 1.28 to 2.40.

-

The DepEd noted that observations from the field, such as improved confidence and class participation among struggling readers, were aligned with the quantitative results of the report. “Teachers reported that struggling readers became more willing to read aloud and engage in class within days of targeted instruction.”

-

One of the field implementers, however, raised concerns about the impacts of parents on children’s literacy rates.

-

“We are gradually working to establish reading corners in the students’ homes by providing localized learning materials…so that students can continue practicing and engaging with the lessons outside school,” the report said, citing the field implementer.

-

“Issues on parents’ literacy levels persist and affect learner engagement,” it added. — Almira Louise S. Martinez

-]]> - - - - https://www.bworldonline.com/wp-content/uploads/2025/11/SF_M_deped.gov-OL-300x200.jpg - - Wholesale price growth of NCR building materials steady in December - https://www.bworldonline.com/economy/2026/01/16/724720/wholesale-price-growth-of-ncr-building-materials-steady-in-december/ - - - Fri, 16 Jan 2026 08:17:16 +0000 - - - - - https://www.bworldonline.com/?p=724720 - - - Price growth of bulk construction materials in the National Capital Region (NCR) steadied in December, the Philippine Statistics Authority (PSA) reported on Thursday.

-

Data from the PSA showed the construction materials wholesale price index (CMWPI) in NCR went up by 0.8% year on year in December, matching the pace in November. However, it was higher than the 0.2% annual growth posted in December 2024.

-

In 2025, the CMWPI growth average slowed to 0.1% from 0.6% in 2024.

-

The CMWPI is based on constant 2018 prices.

-

The PSA noted faster annual growths in sand and gravel at 0.2% in December from 0.1% in November, painting works (0.6% from 0.4%), and plywood (0.3% from -0.1%).

-

Slower year-on-year declines were seen in structural steel (-3% from -3.2%) and metal products (-0.7% from -0.8%).

-

Meanwhile, annual growths slowed in concrete products (2.4% from 2.5%), lumber (0.2% from 0.4%), G.I. sheet (0.1% from 0.2%), and tileworks (3.4% from 3.5%).

-

The indices of cement and glass and glass products saw steeper year-on-year declines at -1.5% from -1.4% and -0.2% from -0.1%, respectively.

-

According to the PSA, the easing in the average growth rate of the CMWPI in 2025 was driven by the downtrend in the year-on-year average growths of 12 out of the 20 commodity groups.

-

This was led by the structural steel subindex which declined 2% from the 0.9% growth a year earlier.

-

Michael L. Ricafort, chief economist of Rizal Commercial Banking Corp., partly attributed the faster wholesale price growth of building materials in December 2025, compared to a year ago, to the “higher US dollar/peso exchange rate in recent months that increased importation costs for some construction materials with imported components.”

-

He also noted that weather-related disruptions reduced working days and construction activities in 2025, but was offset by the reconstruction of damaged homes, businesses, and infrastructure.

-

“The relatively slower [annual average] growth in construction materials wholesale prices could also reflect some slowdown in government spending especially on infrastructure, in view of the anti-corruption narrative/measures since the SONA on July 28, 2025 amid political noises related to the anomalous flood control projects,” he added.

-

Moving forward, Mr. Ricafort expects demand for construction materials to increase amid the series of rate cuts by the Fed and the central bank which reduced financing costs, increasing demand for loans to finance new investments and expansion projects. — Isa Jane D. Acabal

-]]> - - - - https://www.bworldonline.com/wp-content/uploads/2025/01/Infra-Construction-Workers-JR-4-300x200.jpg - - PHL orders Grok AI ban - https://www.bworldonline.com/technology/2026/01/16/724713/phl-orders-grok-ai-ban/ - - - Fri, 16 Jan 2026 07:59:30 +0000 - - - - https://www.bworldonline.com/?p=724713 + Wed, 21 Jan 2026 02:00:25 +0000 + + + + + https://www.bworldonline.com/?p=725529 - - The Philippines has ordered the ban of Grok, the generative artificial intelligence (AI) chatbot developed by X.AI Corp. (xAI), owned by Elon Musk over deepfake and growing threats involving women and minors.

-

This came after the Department of Information and Communications Technology (DICT) through its Cybercrime Investigation and Coordinating Center (CICC) ordered the National Telecommunications Technology (NTC) to block and take down access to Grok in the Philippines.

-

ICT Secretary Henry Rhoel R. Aguda said the agency is now working on a policy measure, through a department order, that would require users in the country to have their account verified.

-

“This is currently under review, I think, we can issue the department order next week which will require users [to have their] account verified,” Mr. Aguda said, adding that this will allow easy tracing of those who will abuse the use of AI.

-

In a media release, CICC said that the move to block Grok is in accordance with Republic Act 10175 or also known as the Cybercrime Prevention Act.

-

“This measure is intended to prevent the abuse of the tool and to safeguard the public from being exploited by its ability to manipulate content, produce sexually explicit materials, and generate deepfakes of real individuals without their consent,” CICC said.

-

It said that Grok AI enables the creation of pornographic content, especially child pornography which is against the law.

-

Further, Mr. Aguda said that Grok AI’s affiliate has reached out to the DICT, and is set to meet with the agency, and NTC to come up with a potential solution.

-

“We don’t want to block innovation. We don’t want to stifle or hinder progress… Other countries have shown the kinds of harm Grok AI can cause. So, the next question is: after we block Grok AI, what’s next?,” he said.— Ashley Erika O. Jose

-]]> - - - - https://www.bworldonline.com/wp-content/uploads/2026/01/XAI_AI-300x200.jpg - - PHIVOLCS warns of possible Kanlaon lahars amid Storm Ada - https://www.bworldonline.com/the-nation/2026/01/16/724714/phivolcs-warns-of-possible-kanlaon-lahars-amid-storm-ada/ - - - Fri, 16 Jan 2026 07:56:28 +0000 - - - https://www.bworldonline.com/?p=724714 - - - Several communities near Kanlaon Volcano in Negros Island are advised to prepare for possible lahars due to heavy rainfall from Tropical Storm Nokaen, locally named Ada, according to the Philippine Institute of Volcanology and Seismology (PHIVOLCS).

-

In an 11:00 a.m. advisory, PHIVOLCS said the forecasted rains from Ada may trigger lahars and muddy run-off in rivers and drainage areas around the volcano.

-

“Prolonged heavy rainfall could generate life-threatening lahars and sediment-laden streamflows on major channels draining the southern, western, and eastern slopes of Kanlaon Volcano,” PHIVOLCS said.

-

The bureau explained that post-eruption lahars can form when heavy rain washes away loose volcanic debris from recent eruptions and ashfall.

-

Meanwhile, non-eruption lahars can occur when recently landslide-exposed or weakened slopes, like those affected by Super Typhoon Tino in November 2025, collapse and send debris into rivers, threatening downstream communities.

-

PHIVOLCS said that communities that may be affected by lahars and sediment-laden streamflows include Bago City, La Carlota City, La Castellana, Moises Padilla, and San Carlos City in Negros Occidental.

-

It is also possible in Canlaon City in Negros Oriental, particularly along rivers and creeks such as Ibid, Cotcot, Talaptapan, Malaiba, Panubigan, Buhangin–Indurayan, Najalin, Inyawan, Maragandang, Panun-an, Intiguiwan, Camansi, Maao, Tokon-tokon, Masulog, Binalbagan, Taco, and Linothangan.

-

“These communities, as well as those further downstream of the above channels, are advised to prepare in case evacuation becomes necessary and to avoid traversing affected streams, even those farther downslope of the volcano,” PHIVOLCS said.

-

The bureau also reminded that Kanlaon lahars have been proven strong enough to carry large volumes of gravel and boulders, as shown during Super Typhoon Tino, posing a serious threat to communities.

-

Alert Level 2 remains in effect at Kanlaon Volcano, indicating increased unrest, according to PHIVOLCS.— Edg Adrian A. Eva

-]]> - - - - https://www.bworldonline.com/wp-content/uploads/2024/12/Kanlaon-Volcano-300x200.jpg - - Philippines unveils ‘big bold reforms’ to shore up investor confidence - https://www.bworldonline.com/top-stories/2026/01/16/724710/philippines-unveils-big-bold-reforms-to-shore-up-investor-confidence/ - - - Fri, 16 Jan 2026 07:47:09 +0000 - - - https://www.bworldonline.com/?p=724710 - - - By Aubrey Rose A. Inosante, Reporter

-

The Philippine government on Friday pledged “big bold reforms” that are aimed at restoring investor trust as it tries to contain the economic fallout from a widening corruption scandal.

-

Finance Secretary Frederick D. Go said the economic team unveiled reforms before the largest names and groups in the private sector on Friday, which are expected to improve the ease of doing business and build the needed infrastructure.

-

“The briefing’s objective is clear, to inspire optimism, renew investor confidence, and encourage greater investments in the Philippines,” Mr. Go said during the “Big Bold Reforms: the Philippines 2026” press briefing held in Taguig City.

-

A corruption scandal over anomalous flood control projects has dampened investor sentiment and contributed to slower growth, household consumption and public spending.

-

One of the biggest announcements was the restoration of the P4.32 billion funding gap for the Comprehensive Automotive Resurgence Strategy (CARS) program, which had offered car manufacturers fixed investment support and production-volume incentives.

-

“The government finalized a funding solution for the CARS program, and therefore, car manufacturers enrolled in the program can now be assured that the government will fulfill its commitment to investors,” Mr. Go said.

-

President Ferdinand R. Marcos Jr. had earlier vetoed the CARS program funding under the unprogrammed appropriations of the 2026 budget, along with P250 million for the Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) program.

-

Mr. Go said other reforms include visa‑free entry for Chinese businessmen and tourists for up to 14 days, as well as plans by the Bureau of Internal Revenue to roll out a digitized, risk‑based audit system this year and to reduce the frequency of Letters of Authority.

-

The Bureau of Customs is also rolling out a national single‑window trade facilitation platform.

-

Mr. Go also urged private sector stakeholders to capitalize on the Philippines’ chairship of the Association of Southeast Asian Nations (ASEAN) this year.

-

“This is a clear signal that the Philippines is moving forward decisively and not being distracted,” he added.

-

‘NOT A DOOMSDAY SCENARIO’
-The Finance Chief also noted that the government’s current projection of 5-6% gross domestic product (GDP) growth this year remains above both the Southeast Asian and global averages, rejecting concerns that it signals a “doomsday scenario.”

-

“The growth target of north of 5% or better in 2026 should not be dismissed as a doomsday scenario. It’s not,” he said.

-

Economy Secretary Arsenio M. Balisacan earlier said the Philippines’ economic growth may have slowed to 4.8% to 5% in 2025 due to corruption.

-

Mr. Go said this forecast still outpaces the ASEAN growth average of 3.8% and the global growth average of 2.9%.

-

INFRASTRUCTURE PUSH
-At the same time, government agencies are now ramping up infrastructure spending in early 2026 after a “rough” second half in 2025 due to the graft scandal.

-

Public Works Secretary Vivencio B. Dizon said the department aims to boost spending while ensuring funds are used wisely.

-

“Our target spend for the first quarter is anywhere between P200 billion to P250 billion in the first quarter,” Mr. Dizon said, noting that this depends on how much the government can raise.

-

He added the Department of Public Works and Highways (DPWH) will prioritize “basics” such as road and bridge maintenance, along with unfinished projects spanning hospitals and classrooms.

-

Meanwhile, the Department of Transportation (DoTr), which has most of its capital outlay allocated for foreign-assisted projects, said it can obligate around P60 billion in the first quarter.

-

“The budget for DoTr for the entire year right now is around P103 billion, and the DoTr center alone is like P75 billion. But we have unprogrammed appropriations so far as the loan process is concerned,” Transportation Secretary Giovanni Z. Lopez said.

-

In the same briefing, Mr. Go announced that the Department of Finance will begin reporting the general government debt-to-GDP ratio, along with national government debt, in line with International Monetary Fund (IMF) standards.

-

“Going forward, the data point shared with the media and our private stakeholders will be the general government debt, which currently stands at 54% to 55% of GDP,” he said.

-

This figure is well below the IMF’s 70% debt-to-GDP threshold.

+ + Social commerce has changed the landscape of discovering and purchasing products online. Through live selling and affiliate content creators on social media platforms like TikTok, buying an item is now as easy as scrolling on your feed, clicking the yellow basket and proceeding to checkout. This streamlined process is what brands are leveraging to keep up with today’s dynamic retail space and bring their products directly to consumers.

+

Nestlé Professional, with its commitment to empower creators and foster collaboration in the food and beverage industry, gathered over 100 affiliates from Metro Manila and nearby cities to join the Nestlé Professional Creator Playground last Nov. 5. Culinary experts conducted hands-on workshops and live demos using Nestlé Professional and Maggi Professional products that served as a guide for attendees to boost their selling potential and further elevate their content on TikTok.

+

The event also featured informative and inspiring talks about content creation strategies, effective use of social media platforms, and best practices for monetizing content through affiliate marketing.

+

“We recognize the growing influence of social commerce and the vital role that content creators play in shaping consumer preferences. By bringing together creators, we aim to provide them with the tools, resources, and support they need to thrive in this space,” said Nestlé Professional Business Executive Officer Rica Mier. “This event is just the beginning of our goal to build a community where creators feel valued and empowered to share their experiences with our brand.”

+

Michelle Mendoza from Antipolo City is one of the content creators who joined the Nestlé Professional Creator Playground. According to her, she gained valuable insights from the event about developing more creative videos for her audience and driving sales. While new to the TikTok affiliate scene, Michelle has a background in business marketing that makes her comfortable in communicating with all types of people through live selling. “Swak kami ni TikTok at ng pag-a-affiliate. Yan ang aking passion. At yung gusto ko sa ganito, sarili mo yung oras mo.”

+

Just like Michelle, fellow Nestlé Professional affiliate Jenalyn Vicente enjoys the freedom that being an affiliate provides especially to moms like her who are looking for an additional source of income. “’Yung kinikita ko sa dati kong work, kinikita ko na rin ngayon. Sina-sideline ko lang dati itong pag-a-affiliate. Mula pa-isa-isang items, dumami nang dumami dahil ina-approach talaga ng tao,” she shared.

+

Self-proclaimed rakitero Genesis Quejada added being an affiliate to his long list of side hustles just after graduating college this year. He believes consistency and hard work are key to make it big in this line of work. “’Yung strategy ko ay mag-live for two hours in the morning and two hours at night. ’Yung pagitan ng oras ko na ’yun, I make more content in batches para kung ma-busy man in the next days, may ready-made videos pa rin for posting,” he said.

+

Because Nestlé products are pantry and kitchen essentials in Filipino homes, Michelle said they’re always in demand. Discounts vouchers and freebies also attract more consumers to their page and to check out the products they’re showcasing. This results in higher sales and bigger commissions for the affiliates.

+

When asked about their long-term goals as an affiliate, everyone expressed their desire to earn enough to save for the future. Michelle and Genesis both also want to one day establish their own brands and employ affiliates of their own as a way to share their expertise and opportunities to others. Jenalyn, on the other hand, aims for financial security. “Kaya ako nag-affiliate para makatulong sa family ko fully at magkaroon ng extra income. ’Di na ako hihingi sa iba. Lahat ito sarili kong sikap.”

+

Being an affiliate may seem easy at first look — just promoting products through videos and live selling — but it does come with its own set of challenges such as managing time wisely, coming up with engaging and fresh content ideas, and avoiding violations that may get your account banned, among others. Genesis advises new and aspiring affiliates to familiarize themselves well with the community guidelines and strictly adhere to them in creating content and during lives.

+

Through the Nestlé Professional Affiliate Program, Nestlé aims to improve the livelihoods of its affiliates and help them maximize their potential as content creators. Check out @barangayNestlé on TikTok to know more and score the best deals on your favorite Nestlé products.

+

 

+
+

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.

+

Join us on Viber at https://bit.ly/3hv6bLA to get more updates and subscribe to BusinessWorld’s titles and get exclusive content through www.bworld-x.com.

]]> - https://www.bworldonline.com/wp-content/uploads/2026/01/220925_nando06-300x169.jpg + https://www.bworldonline.com/wp-content/uploads/2026/01/Nestle2-OL-300x212.jpg - Globe brings Starlink direct-to-cell technology in PHL - https://www.bworldonline.com/corporate/2026/01/16/724705/globe-brings-starlink-direct-to-cell-technology-in-phl/ + SEC studies lifting moratorium on new online lending platforms + https://www.bworldonline.com/corporate/2026/01/21/725526/sec-studies-lifting-moratorium-on-new-online-lending-platforms/ - Fri, 16 Jan 2026 07:24:47 +0000 + Wed, 21 Jan 2026 01:54:37 +0000 - - https://www.bworldonline.com/?p=724705 - - - GLOBE TELECOM, Inc. has partnered with Elon Musk’s Starlink to bring its direct-to-cell satellite services in the Philippines, making the country the first in Southeast Asia to offer the technology.

-

“By leveraging Starlink’s low earth orbit satellites, we will bridge coverage gaps in what we called geographically isolated and disadvantaged areas, enabling Filipinos to access essential services,” Globe President and Chief Executive Officer Carl Raymond R. Cruz said during the signing of a memorandum of agreement for the partnership.

-

The technology is targeted to be commercially available by end March, Mr. Cruz said, adding that the company is working to lower the pricing of the services to make it more inclusive.

-

Starlink’s direct-to-cell technology connects users directly to its low-earth orbit (LEO) satellite, which provides text, voice, and data connectivity to users particularly in remote areas which lack coverage.

-

This landmark initiative is part of the Ayala-led telecommunications company’s commitment to ramp up its investment in technologies to help bridge the digital and connectivity gap in the Philippines.

-

At present, Globe said that it has achieved about 97% coverage in the country, and the balance 3%, which are considered underserved, can take advantage of the new technology being offered.

-

Information and Communications Technology Secretary Henry Rhoel R. Aguda said the agency is confident that the new technology will spur growth of the digital economy as this will enhance connectivity in the country.

-

Starlink’s direct-to-cell service is a satellite-to-mobile wireless technology launched by its parent company Space Exploration Technologies Corp. (SpaceX).

-

Although Globe is the first telecommunications company in the country to bring Starlink’s direct-to-cell services, Starlink has also inked a partnership with Converge ICT Solutions, Inc., making it an authorized reseller of Starlink kits in the Philippines.

-

Starlink continues to expand its satellite network to provide high-speed broadband to rural and remote areas, according to its website.— Ashley Erika O. Jose

-]]> - - - - https://www.bworldonline.com/wp-content/uploads/2026/01/WhatsApp-Image-2026-01-16-at-1.49.13-PM-300x184.jpeg - - Philippines’ infrastructure watchdog stalls operations as quorum lost - https://www.bworldonline.com/the-nation/2026/01/16/724701/philippines-infrastructure-watchdog-stalls-operations-as-quorum-lost/ - - - Fri, 16 Jan 2026 07:05:28 +0000 - - - https://www.bworldonline.com/?p=724701 + + https://www.bworldonline.com/?p=725526 - - The Philippines’ Independent Commission for Infrastructure (ICI) formally said on Friday it cannot carry out official functions after resignations left the fact-finding body without a quorum, as the President hinted its investigative work has been completed.

-

In a statement, the ICI said the departures of Commissioners Rogelio “Babes” L. Singson and Rossana A. Fajardo, which took effect in late December, have left Chairperson Andres B. Reyes Jr. as the commission’s sole member.

-

Under Executive Order No. 94, which created the ICI, the body requires a majority of its three original members to conduct official business.

-

“As a collegial body, the ICI may take official action only with the approval of a majority of its members,” the ICI said.

-

“Consequently, following the resignation of its two commissioners, the Commission is unable to resume its official operations until a quorum is restored,” it added.

-

The leadership vacuum comes as the investigative body reports significant progress in its crackdown on infrastructure-related corruption. Since its inception in September last year, the ICI has referred eight cases to the Office of the Ombudsman involving nearly 100 individuals.

-

These investigations have already yielded three formal court cases filed by the Ombudsman, the arrest of 16 individuals, and the freezing of over P20 billion in assets through coordination with the Anti-Money Laundering Council.

-

President Ferdinand R. Marcos, Jr. hinted on Friday that the ICI’s mandate may be nearing its conclusion.

-

“Again, it all depends on the work that ICI still has,” Mr. Marcos reportedly told journalists in an interview. “But if the work is done, if all the information has been given to the department of justice and the Ombudsman, then the focus of the investigation will go through the DOJ and the Ombudsman.”

-

Before the current impasse, the ICI proposed wide-ranging reforms to prevent irregularities in large-scale projects, including automatic reporting of DPWH contracts over P30 million to the Bureau of Internal Revenue, live-streaming of investigative hearings, and a centralized contractor registry and blacklist, the commission said.

-

The body also called for the immediate suspension of payments for projects under serious review and the institutionalization of a permanent, independent fact-finding body.

-

Mr. Marcos noted that no decision has been made regarding the appointment of new commissioners to fill the vacancies. “If there is still a need, then we will [appoint],” he added.

-

Final Reporting
-The ICI is currently consolidating its findings into a comprehensive report covering its operations from September 11 to December 31, 2025.

-

“The report will be submitted to the Office of the President for its consideration in determining the next steps for the Commission,” the ICI said.

-

In the interim, the commission stated it is focusing on safeguarding all records and evidence in its custody to ensure that ongoing legal proceedings are not compromised.— Erika Mae P. Sinaking

+ + The Securities and Exchange Commission (SEC) said it is studying a possible lifting of the moratorium on the registration of new online lending platforms.

+

“The moratorium is already long — it’s already long, so I said it’s about time to study [whether] to lift it,” SEC Chairperson Francisco Ed. Lim told reporters on the sidelines of an event on Monday.

+

In November 2021, the SEC imposed a moratorium on the registration of new online lending platforms run by financing and lending companies as it worked on rules to curb predatory lending and abusive debt collection practices.

+

“Liberalizing the rules — that’s my focus this year,” Mr. Lim said.–Alexandria Grace C. Magno

]]> - https://www.bworldonline.com/wp-content/uploads/2026/01/IMG_9715-300x200.jpg + https://www.bworldonline.com/wp-content/uploads/2024/06/SEC-buillding-2-300x200.jpg - Signal No. 1 up in more than a dozen areas amid Tropical Storm Ada - https://www.bworldonline.com/the-nation/2026/01/16/724690/signal-no-1-up-in-more-than-a-dozen-areas-amid-tropical-storm-ada/ + Billionaires 4,000 times more likely to hold political office, says Oxfam report + https://www.bworldonline.com/economy/2026/01/21/725519/billionaires-4000-times-more-likely-to-hold-political-office-says-oxfam-report/ - Fri, 16 Jan 2026 06:05:05 +0000 - + Wed, 21 Jan 2026 01:09:49 +0000 + - https://www.bworldonline.com/?p=724690 + https://www.bworldonline.com/?p=725519 - - Storm Signal No. 1 has been raised in more than a dozen areas due to Tropical Storm Nokaen, locally named Ada, according to the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) advisory on Friday.

-

The affected areas include the eastern portion of Camarines Norte, Camarines Sur, Catanduanes, Albay, Sorsogon, Masbate, Northern Samar, Samar, and Eastern Samar, PAGASA said in its 11:00 a.m. advisory.

-

The signal is likewise in effect in Biliran, the northern and central portions of Leyte, the eastern portion of Southern Leyte, Dinagat Islands, and Siargao–Bucas Grande Islands.

-

PAGASA said that under Storm Signal No. 1, winds of up to 61 kilometers per hour may be experienced within the next 36 hours, which could cause minimal to minor damage to properties made of light materials.

-

The weather bureau added that the highest wind signal that may be hoisted throughout the passage of Nokaen is Signal No. 2.

-

The storm has maintained its strength, packing maximum sustained winds of 65 kilometers per hour and gusts of up to 80 kph.

-

It was last located 325 kilometers east of Guiuan, Eastern Samar, moving northward at 15 kph.

-

As for its track, PAGASA said Nokaen is likely to pass close to Eastern Samar and Northern Samar on Saturday, then near Catanduanes from Saturday evening through Sunday.

-

Although the latest tracking shows that the storm is not expected to make landfall, PAGASA said a possible landfall over Samar cannot be ruled out due to the cyclone’s wide forecast cone, which indicates potential changes in direction.

-

Meanwhile, PAGASA also issued an orange heavy rainfall warning over Northern Samar and Eastern Samar, where rainfall of up to 200 millimeters is expected from Friday to Saturday noon.

-

This means that up to 200 liters of rain per square meter may fall over the affected areas, which could trigger flooding even in non–flood-prone locations, as well as landslides in moderate- to high-risk areas, PAGASA said in a separate 11:00 a.m. advisory.— Edg Adrian A. Eva

+ + Billionaires, whose wealth saw record growth in 2025, are 4,000 times more likely to hold political office than ordinary citizens, according to a global Oxfam report released Tuesday, coinciding with the World Economic Forum in Davos, Switzerland.

+

In the report titled “Resisting the Rule of the Rich: Protecting Freedom from Billionaire Power,” Oxfam said that 11% of the world’s billionaires had either held or sought political office in 2023, making them 4,000 times more likely to occupy political positions than average citizens.

+

Oxfam warned that this extreme concentration of political power is “hollowing out democracies, weakening public institutions, and driving growing anger and unrest worldwide, including in the Philippines.”

+

The organization noted that billionaires’ increased political participation coincides with their record-breaking wealth.

+

In 2025 alone, the wealth of the world’s billionaires grew by more than 16%, or US $18.3 trillion, Oxfam said, marking a growth rate three times faster than the average of the previous five years. The number of billionaires worldwide also surpassed 3,000 for the first time.

+

This surge comes amid persistent global inequality, with nearly half of the world’s population living in poverty, Oxfam said.

+

“The widening gap between the rich and the rest is creating a political deficit that is highly dangerous and unsustainable,” Amitabh Behar, Oxfam International executive director, said in a statement.

+

“Governments are making wrong choices to pander to the elite, defending wealth while repressing people’s rights and fueling anger as many struggle with unaffordable and unbearable living conditions.”

+

The report also cited the World Values Survey, which found that almost half of respondents across 66 countries believe that wealthy people often buy elections in their countries.

+

In the Philippines, Oxfam highlighted that recent corruption in flood control projects has worsened income inequality.

+

The country remains the 15th most unequal globally and among the Southeast Asian nations with the starkest wealth divide, the report said.

+

“Filipinos are witnessing inequality become a matter of life and death when corruption diverts billions meant for flood control, while the wealthy amass record fortunes,” Maria Rosario “Lot” Felizco, Oxfam Pilipinas executive director, told BusinessWorld in a text message.

+

“We cannot let wealth and greed capture our democracy and determine who gets protected and who is abandoned during disasters,” she added.

+

Meanwhile, Oxfam Pilipinas policy advocacy and communications manager Mai Lagman told BusinessWorld in a phone interview that a local report detailing billionaires’ political influence in the Philippines is set to be released soon.

+

Oxfam urged governments to control the political power of extreme wealth by implementing realistic, time-bound national inequality reduction plans, effectively taxing the super-rich, enforcing stronger firewalls between wealth and politics, and ensuring accountability for the political empowerment of ordinary citizens.

+

Oxfam International is a global confederation of over 20 organizations working in over 70 countries to fight poverty, reduce inequality, and promote social justice.— Edg Adrian A. Eva

]]> - https://www.bworldonline.com/wp-content/uploads/2026/01/nokaen-300x217.jpg + https://www.bworldonline.com/wp-content/uploads/2025/05/election-posters-wc-300x200.jpg - Philippine remittances slip to six-month low in November - https://www.bworldonline.com/top-stories/2026/01/16/724641/philippine-remittances-slip-to-six-month-low-in-november/ + Philippines’ BoP position swings to deficit in 2025 + https://www.bworldonline.com/top-stories/2026/01/21/725229/philippines-bop-position-swings-to-deficit-in-2025/ - Thu, 15 Jan 2026 16:34:07 +0000 + Tue, 20 Jan 2026 16:34:44 +0000 - https://www.bworldonline.com/?p=724641 + https://www.bworldonline.com/?p=725229 - + By Katherine K. Chan, Reporter

-

MONEY SENT HOME by overseas Filipino workers (OFW) fell to its lowest level in six months in November, the Bangko Sentral ng Pilipinas (BSP) reported.

-

Preliminary central bank data released on Thursday showed that cash remittances coursed through banks rose by 3.6% to $2.91 billion from $2.808 billion in the same month in 2024.

-

This was the lowest remittance level recorded in six months or since the $2.658 billion in May.

-

-

In terms of growth, November marked the fastest pace in two months or since the 3.7% in September.

-

Meanwhile, remittances declined by 8.2% from $3.171 billion in October.

-

“November’s dip is really just a timing story,” Jonathan L. Ravelas, a senior adviser at Reyes Tacandong & Co., said in a Viber message. “A lot of the holiday money was already sent in October, which is why we saw that month heavy with remittances — partly due to pre‑holiday transfers and even typhoon‑related aid being front‑loaded.”

-

Mr. Ravelas noted that the month-on-month dip was not a “red flag” as it is a usual trend seen before remittances surge in December.   

-

In November, land-based OFWs sent home the bulk of cash remittances, which went up by 3.6% year on year to $2.303 billion.

-

Remittances from sea-based workers likewise grew by an annual 3.6% to $606.592 million in November.

-

BSP data also showed that personal remittances, which include both cash coursed through banks and informal channels and in-kind remittances, rose by 3.6% to $3.235 billion in November from $3.121 billion in the previous year.

-

Metropolitan Bank & Trust Co. Chief Economist Nicholas Antonio T. Mapa said movements in the foreign exchange market likely drove the annual growth in remittances.

-

In November, the peso touched the P59-per-dollar level several times. It even closed at P59.17 against the greenback on Nov. 12, breaking the previous record of P59.13 seen on Oct. 28.

-

“Despite this development, remittances proved to be a solid and reliable source of FX (foreign exchange) while also translating into healthy purchasing power that likely helped drive holiday spending,” Mr. Mapa said in a Viber message.

-

11-MONTH CLIMB
-As of November, cash remittances from migrant Filipinos reached $32.111 billion, climbing by 3.2% from $31.113 billion during the same period in 2024.

-

Remittances from land-based workers grew by 3.3% year on year to $25.66 billion as of end-November, while sea-based OFW remittances rose by 2.8% to $6.45 billion.

-

On the other hand, personal remittances in the 11-month period stood at $35.727 billion, up by 3.2% from $34.608 billion at end-November 2024.

-

“The United States remained the top source of remittances to the Philippines during January-November 2025, followed by Singapore and Saudi Arabia,” the BSP said in a statement.

-

Based on BSP data, money sent home from the US accounted for 40% of the remittances in the 11 months to November.

-

Inflows from Singapore made up 7.1% of the total remittances, followed by Saudi Arabia (6.4%), Japan (5%), the United Kingdom (4.6%), the United Arab Emirates (4.6%), Canada (3.5%), Qatar (2.9%), Taiwan (2.8%) and South Korea (2.4%).

-

The US was the top source of land-based remittances at end-November with 41.9% of total remittances. The rest came from Saudi Arabia (8%), Singapore (6.4%), the United Arab Emirates (5.7%) and the UK (4.5%).

-

Meanwhile, 32.2% of the remittances from sea-based workers were from the US, followed by Singapore (10.2%), Japan (7.1%), Germany (5.5%) and the UK (5.4%).

-

The BSP expects cash remittances to grow by 3% to $35.5 billion this year.

+

THE PHILIPPINES’ balance of payments (BoP) deficit in 2025 settled below the central bank’s full-year forecast despite posting a wider deficit in December.

+

Data from the Bangko Sentral ng Pilipinas (BSP) showed that the country’s BoP position swung to a $5.661-billion deficit, a reversal from the $609-million surplus seen in 2024.

+

This was narrower than the central bank’s projection of a $6.2-billion gap or -1.3% of the country’s gross domestic product (GDP).

+

+

In December alone, the BoP deficit narrowed year on year to $827 million from a $1.508-billion gap.

+

However, it widened from the $225-million shortfall recorded in November.

+

“The Philippines’ balance of payments registered an $827-million deficit in December 2025, bringing the full‑year outcome to a $5.7-billion deficit,” the BSP said in a statement late on Monday.

+

BoP refers to the country’s economic transactions with other nations. A surplus indicates more funds entered the country, while a deficit shows that the country spent more than it received.

+

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said the BoP deficit in December was partly due to the country’s continued trade deficit.   

+

The Philippines’ trade-in-goods balance, or the difference between the values of exports and imports, narrowed to a $45.2-billion gap as of end-November from $50.18 billion in the same period in 2024.

+

Meanwhile, John Paolo R. Rivera, a senior research fellow at the Philippine Institute for Development Studies, said subdued capital inflows and foreign direct investments, as well as sustained net outflows from portfolio investments, may have also fueled the recent BoP deficit.

+

“It reflects a mix of weaker capital inflows, softer FDI (foreign direct investment), and continued net outflows from portfolio investments, alongside a persistently wide trade deficit driven by imports,” he said in a Viber message.

+

“(The December) deficit likely reflects year-end debt servicing, profit repatriation, and portfolio rebalancing, which are typical toward the close of the year.”

+

FDI net inflows have recorded double-digit annual declines every month since August 2025. In October, it slumped by 39.8% to $642 million from $1.067 billion a year ago.

+

Mr. Ricafort said the country’s BoP position may improve in the near term if the administration’s governance reforms would materialize.

+

“For the coming months, BoP data would improve further if anti-corruption measures and other reform measures, especially in further leveling up the country’s governance standards, are taken seriously, just like 10-15 years ago, as these help further improve international investor confidence in the country,” he said in an e-mail.

+

RECORD DOLLAR RESERVES
+Meanwhile, the central bank’s dollar reserves stood at $110.833 billion as of end-2025, 4.31% higher than the $106.257 billion logged in the prior year.

+

This marked a new all-time high gross international reserves (GIR) level on an annual basis, breaking the previous record of $110.117 billion at end-2020.

+

The dollar reserves level in 2025 also exceeded the BSP’s estimate of $109 billion for the year.

+

At end-December, the country’s GIR level translated to 7.4 months’ worth of imports of goods and payments of services and primary income, well above the three-month standard.

+

“Specifically, the latest GIR level ensures the availability of foreign exchange to meet balance of payments financing needs, such as for payment of imports and debt service, in extreme cases when there are no export earnings or foreign loans,” the central bank said.

+

It is also enough to cover about 3.9 times the country’s short-term external debt based on residual maturity.

+

GIR comprises foreign-denominated securities, foreign exchange, and other assets such as gold. It enables a country to finance imports and foreign debts, maintain the stability of its currency, and safeguard itself against global economic disruptions.

+

For Mr. Rivera, a rebound in FDIs, export performance, remittance inflows, the US Federal Reserve’s monetary policy actions, among other global financial conditions, will determine the country’s BoP position this year.

+

“While near-term pressures from global uncertainty and PHP (Philippine peso) weakness may persist, a pickup in investments and exports could help narrow the deficit this year, with GIR expected to remain broadly stable barring major external shocks,” he said.

+

For 2026, the BSP expects the overall BoP position to end at a $5.9-billion deficit or -1.2% of the Philippine GDP. Meanwhile, it sees the GIR level reaching $110 billion by yearend.

]]> - https://www.bworldonline.com/wp-content/uploads/2026/01/remittance-currency-wc-300x200.jpg + https://www.bworldonline.com/wp-content/uploads/2024/01/dollar-currency-300x200.jpg - Philippines risks slowdown this year as election spending effect wanes - https://www.bworldonline.com/top-stories/2026/01/16/724640/philippines-risks-slowdown-this-year-as-election-spending-effect-wanes/ + Philippines looks to raise $1.5B via triple-tranche dollar bonds + https://www.bworldonline.com/top-stories/2026/01/21/725430/philippines-looks-to-raise-1-5b-via-triple-tranche-dollar-bonds/ - Thu, 15 Jan 2026 16:33:06 +0000 + Tue, 20 Jan 2026 16:33:38 +0000 - - - https://www.bworldonline.com/?p=724640 + + https://www.bworldonline.com/?p=725430 - - By Aubrey Rose A. Inosante and Katherine K. Chan, Reporters

-

THE PHILIPPINES risks losing economic momentum in 2026 unless reforms are carried out to extend the lift from election-related spending last year, according to a state think tank.

-

Growth last year has been partly driven by higher household consumption and public outlays tied to the elections, but that boost may fade once the political cycle ends, said John Paolo R. Rivera, a senior research fellow at the Philippine Institute for Development Studies (PIDS).

-

Without structural reforms, the economy could slow as temporary spending support unwinds, he told a webinar on Thursday.

-

“But for 2026, we might face post-election risks. Without reforms, momentum will fade, and sustainability depends on reforms, not on political cycles,” Mr. Rivera said.

-

The state think tank expects Philippine gross domestic product (GDP) to expand by 5.3% in 2026, within the government’s revised 5-6% growth target.

-

It also noted that Philippine GDP growth likely averaged 5% in 2025, below the government’s 5.5-6.5% target and slower than the actual 5.7% growth in 2024.

-

Mr. Rivera noted election years stimulate growth, but its effects are temporary and cyclical. For instance, infrastructure spending was frontloaded in early 2025 ahead of an election ban on public works.

-

“While fiscal expansions, such as those that we are seeing always during election periods, can temporarily stimulate the economy, and generate economic activities, they are not substitutes for structural reforms,” he said.

-

Mr. Rivera said good governance, transparency and accountability are needed to ensure the temporary boost from elections are converted into “durable, real and long-term gains.”

-

For this year, Mr. Rivera said the key headwinds or risks include a global economic slowdown and rising protectionism among developed economies.

-

“[Add to these] more frequent and severe climate-related shocks, fragile investment recovery, and persistent governance risk. We need to watch out for those headwinds,” he said.

-

At the same time, PIDS President Philip Arnold P. Tuaño said that election years in the Philippines have been associated with faster economic growth, with effects that often extend to the year immediately following the elections.

-

Between 2001 and 2024, average GDP growth during election years was 6.4%, compared with about 4.3% in non-election years, he said.

-

GDP grew by 6.9% in 2016 and 7.6% in 2022, supported by strong household expenditures and service activities, he said.

-

“Taken together, these studies remind us that while election years may provide temporal economic momentum, sustainable growth ultimately depends on credible governance, sound macroeconomic management, and institutions that endure beyond the political cycle,” he said.

-

RATE CUTS TO SPUR GROWTH
-Meanwhile, recent monetary policy easing is expected to prop up domestic demand and boost growth this year, giving the Philippines an edge over its regional peers, Fitch Solutions unit BMI said.

-

BMI trimmed its growth forecast for the ASEAN-5 region, which is composed of Indonesia, Malaysia, the Philippines, Thailand and Singapore, to an average 3.8% for 2026, down from its earlier projection of 4.4%.

-

“In 2025, the ASEAN-5 benefited from the frontloading of exports,” BMI said in a report dated Jan. 12. “As this frontloading is paid back in 2026, however, we expect export growth to moderate across the ASEAN-5, weighing on regional growth.”

-

“However, we expect the Philippines and Indonesia to buck regional trends, with growth accelerating in 2026 as robust domestic demand offsets their relatively smaller, less-exposed external sectors,” it added.

-

The Fitch unit expects the Philippine economy to expand by 5.2% this year.

-

Also, BMI sees room for a 50-basis-point (bp) cut this year to bring the key policy rate at 4% or the lowest since August 2022.

-

It noted that a more accommodative monetary policy will help the economy recover from last year’s slump.

-

“For the Philippines, easier monetary policy will gradually feed through while infrastructure spending will rebound from the disruptions caused by the probe into misappropriated funds earmarked for flood control,” BMI said.

-

Severe flooding last year exposed multiple anomalous flood control projects nationwide, sparking public outrage and investigations that uncovered corruption among Public Works officials, lawmakers and private contractors behind the administration’s infrastructure program.   

-

The economy saw its weakest growth in over four years at 4% in the July-to-September period as the scandal slowed government spending and household consumption. As of the third quarter, GDP growth averaged 5%.

-

A dim growth outlook and weak investor sentiment, coupled with benign inflation, prompted the Monetary Board to deliver a fifth straight 25-bp reduction at the Dec. 11 meeting. This brought its total cuts to 200 bps since August 2024, lowering the benchmark interest rate to 4.5%.

-

Since then, the central bank has repeatedly said that they are approaching the end of the current easing cycle, with BSP Governor Eli M. Remolona, Jr. noting that the policy rate is already “very close” to where they want it to be.

-

However, Mr. Remolona left the door open for a sixth straight 25-bp cut, adding that a weaker-than-expected GDP growth could prompt them to slash key borrowing costs twice this year.

-

The Monetary Board is set to have its first rate-setting meeting for 2026 on Feb. 19.

-

Meanwhile, BMI noted that central banks across the region will likely be less aggressive in cutting rates as inflation is expected to pick up this year.

-

“Despite the generally less upbeat outlook for the ASEAN-5, we are still projecting fewer rate cuts in 2026, compared with 2025,” it said. “One reason is that inflation will rise back towards policy targets or long-term averages in 2026, lowering real policy rates across ASEAN-5.” 

-

BMI forecasts Philippine inflation to settle at 3.1% by yearend, slightly below the 3.2% seen by the BSP but at the midpoint of its 2%-4% target.

+ + By Aaron Michael C. Sy, Reporter

+

THE GOVERNMENT is seeking to raise at least $1.5 billion from its triple-tranche offering of dollar-denominated notes, marking the Marcos administration’s fourth offshore bond issuance and its first in a year.

+

National Treasurer Sharon P. Almanza said in a Viber message that the government is targeting benchmark volumes of at least $500 million for the 5.5-year, 10-year, and 25-year issuances.

+

“This transaction marks the Republic’s return to the international capital markets for 2026, building on a robust track record of successful issuances, following a dual-currency issuance of $2.25 billion and €1 billion in January 2025, a $2.5-billion triple-tranche offering in August 2024, and a $2-billion dual-tranche offering in May 2024,” the Bureau of the Treasury said in a statement on Tuesday.

+

Proceeds of the issuance will be used for general budget financing, it added.

+

The government aims to price the 5.5-year tranche at about 70 basis points (bps) over the US Treasuries, the 10-year tranche at around 100 bps over US Treasuries, and the 25-year tranche at near 5.9% levels.

+

The transaction was scheduled to be priced during the New York session on Tuesday, with the settlement date set on Jan. 27.

+

“The Marcos administration remains firmly committed to promoting strong and inclusive socioeconomic growth. This transaction underscores our steadfast dedication to sound fiscal policy and sustainable development. We are confident that our policy direction and reform agenda will continue to resonate with the global investment community and support a successful outcome for this offering,” Finance Secretary Frederick D. Go said in a statement.

+

BofA Securities, Deutsche Bank, HSBC (B&D), JPMorgan, Morgan Stanley, Standard Chartered Bank and UBS were mandated as joint lead managers and bookrunners for the transaction.

+

The global bonds, which will be drawn from the government’s existing shelf program, were rated “Baa2” by Moody’s Ratings, “BBB+” by S&P Global Ratings, and “BBB” by Fitch Ratings. These ratings are in line with the Philippine government’s issuer rating.

+

“We have seen favorable market conditions for the Republic to return to the international capital markets today. Anchored on stable fundamentals and our recent credit affirmation, this transaction reflects our proactive and strategic approach to secure cost-efficient funding while advancing the National Government’s development priorities,” Ms. Almanza said.

+

Meanwhile, a trader said in a text message that the issuance could be affected by the sell-off in Japanese bonds and US Treasury yield movements on Tuesday, which could result in investors asking for higher yields but still lower than the initial price guidance.

+

Philippine Institute for Development Studies Senior Research Fellow John Paolo R. Rivera likewise said in a Viber message that the demand for the dollar bonds could be “healthy but selective” amid a weak peso and volatile US market.

+

The local unit on Tuesday closed at P59.455 versus the greenback, weakening by 1.5 centavos from its P59.44 finish on Monday, data from the Bankers Association of the Philippines  showed.

+

The peso’s intraday low of P59.50 was its weakest on record, surpassing the previous record low of P59.46 set on Jan. 15 as well as the P59.47 it briefly touched.

+

“A softer peso often pushes some investors toward higher-yield emerging-market papers like Philippine-issued USD bonds, especially if yields are attractive relative to US Treasuries and regional peers,” Mr. Rivera said. “But, global risk sentiment and interest rate uncertainty mean that investors will be discerning on timing, tenor, and pricing.”

+

Mr. Rivera added that the government will have to price the global bonds higher if the dollar rallies or risk appetite wanes to secure demand, but a more stable US market could tighten spreads.

+

“On rates, expect the government to pay a premium relative to recent periods of calm both to compensate for forex (foreign exchange) risk and global volatility,” Mr. Rivera said.

]]> - https://www.bworldonline.com/wp-content/uploads/2026/01/public-market-shopper-1-300x200.jpg + https://www.bworldonline.com/wp-content/uploads/2023/09/US-Dollar-flag-300x186.jpg - Job shortage tops worries of Philippine business leaders — WEF - https://www.bworldonline.com/top-stories/2026/01/16/724638/job-shortage-tops-worries-of-philippine-business-leaders-wef/ + Philippine agriculture output likely increased in 2025 + https://www.bworldonline.com/top-stories/2026/01/21/725428/philippine-agriculture-output-likely-increased-in-2025/ - Thu, 15 Jan 2026 16:32:06 +0000 + Tue, 20 Jan 2026 16:32:37 +0000 - - https://www.bworldonline.com/?p=724638 + + https://www.bworldonline.com/?p=725428 - - A SHORTAGE of jobs is emerging as the biggest worry for Philippine business leaders, according to the World Economic Forum (WEF), a sign that economic growth risks falling short of what’s needed to absorb workers over the next two years.

-

Philippine executives ranked weak public services and social protection as their second concern in the WEF’s 2026 Global Risks Report, with respondents pointing to shortcomings in education, infrastructure and pension systems.

-

Business leaders also flagged the spread of misinformation and disinformation, unintended effects of artificial intelligence, and inflation as key threats to the economy.

-

Leonardo A. Lanzona, an economics professor at the Ateneo de Manila University, said the Philippine executives’ concern over jobs reflects the recent economic slowdown.

-

“As the economy screeches to a slowdown as a result of the decrease in government expenditures, aggregate demand decreases,” he said in a Messenger chat.

-

The lack of additional opportunities is also causing a number of businesses, particularly micro, small, and medium enterprises, to fail, Mr. Lanzona said.

-

“Consequently, this economic slowdown brings about significant unemployment,” he added.

-

In the first 11 months of 2025, the unemployment rate averaged 4.19% or equivalent to 2.25 million jobless Filipinos. This is higher than the 3.9% jobless rate, which is equivalent to 1.66 million in the same period in 2024.

-

“As most of the budget is eaten by debt, the situation is aggravated by lower social protection, political infighting, and a labor-saving technology such as AI (artificial intelligence) that can further reduce labor demand,” Mr. Lanzona said.

-

Meanwhile, the WEF report showed globally, the biggest risk over the next two years remained geoeconomic confrontation.

-

The WEF’s Global Risks Perception Survey captured insights from over 1,300 experts worldwide.

-

Other top risks cited by global business leaders included misinformation and disinformation, societal polarization, extreme weather events, and state-based armed conflict.

-

“Geoeconomic confrontation has emerged as the most severe risk over the next two years, while economic risks have experienced the sharpest rises among all risk categories over the two-year timeframe,” WEF Managing Director Saadia Zahidi said.

-

Rising inflation and potential asset worries rose as countries face high debt burdens and volatile markets amid growing concerns over an economic downturn, she said.

-

The WEF noted that 18% of surveyed participants identified geoeconomic confrontation as the top risk likely to trigger a material global crisis in 2026.

-

This was followed by state-based armed conflict (14%), extreme weather events (8%), societal polarization (7%), misinformation and disinformation (7%), and economic downturn (5%).

-

Meanwhile, over the next 10 years, survey participants expect extreme weather events to become even more severe. — Aubrey Rose A. Inosante

+ + By Vonn Andrei E. Villamiel

+

THE PHILIPPINES’ agricultural production is estimated to have grown modestly in 2025 as gains in poultry and crop output likely offset the decline in livestock and fisheries, analysts said.

+

Former Agriculture Secretary William D. Dar told BusinessWorld that he estimated agriculture output to have expanded by about 2% in 2025.

+

If this projection is realized, it will be a reversal from the 2.2% decline in farm output recorded in 2024.

+

The Philippine Statistics Authority (PSA) reported an agricultural output of P1.72 trillion in 2024, down from P1.76 trillion a year earlier. 

+

“Overall, for the 2025 performance of the agriculture sector, there is potentially an increase in output year on year. The crops and poultry subsector will have positive growth as compared to the negative growth of livestock and fisheries,” Mr. Dar said in a Viber message.

+

Former Agriculture Undersecretary Fermin D. Adriano said a higher full-year output in 2025 can be attributed to relatively better weather conditions.

+

“My sense is that agriculture performed better in 2025 compared to 2024, which saw a series of devastating typhoons and flooding,” he told BusinessWorld via Viber.

+

Meanwhile, Raul Q. Montemayor, national manager of the Federation of Free Farmers, said agriculture output is likely lower or flat in the fourth quarter of 2025.

+

According to PSA data, agricultural output in the fourth quarter of 2024 fell 1.95% to P484.59 million from P494.25 million a year earlier.

+

“I think it will basically be the same story — lower or stagnant output, with only the poultry sector as the bright spot. I think palay (unmilled rice) and corn will be down,” he told BusinessWorld via Viber.

+

Mr. Montemayor said the low farmgate prices of palay and corn last year likely discouraged farmers, leading to a reduced crop output.

+

Palay and corn account for about 27% of the Philippines’ total crop output.

+

Data from the PSA showed that palay production in the fourth quarter of 2025 fell by 5.21% to 6.85 million metric tons (MMT) from 7.23 MMT a year earlier.

+

POULTRY GROWTH
+For both fourth-quarter and annual output, analysts project a strong turnout for the poultry subsector and declines in livestock and fisheries output.

+

Elias Jose M. Inciong, chairman of the United Broiler Raisers Association, told BusinessWorld that poultry output likely grew in the fourth quarter of 2025 from a year earlier.

+

“The reason would probably be an influx of new entrants to the industry,” he said in a Viber message.

+

For the livestock subsector, the African Swine Fever (ASF), a highly contagious viral disease lethal to swine and wild boars, likely continued to weigh down on production.

+

“ASF continues to be a problem not only in terms of casualties but also hesitance of hog raisers to repopulate because of the risk,” Mr. Montemayor said.

+

Meanwhile, Norberto O. Chingcuanco, a board member of the National Fisheries Research and Development Institute and co-convenor of Tugon Kabuhayan, said weather disruptions in the fourth quarter heavily affected fishery production.

+

“It was a good increase till Typhoon Uwan (international name: Fung-wong) hit us. A huge volume of fish escaped from sea cages,” he told BusinessWorld via Facebook Messenger in mixed English and Filipino

+

Data from the Department of Agriculture showed that Typhoon Uwan caused P83.66 million in damage to fisheries, with almost 21,000 metric tons of fishery commodities reported lost.

+

However, Mr. Chingcuanco said fishery output did not actually disappear or decline in terms of its contribution to national food security. Many of the fish that escaped from sea cages were later caught as community catch, which official statistics cannot track.

+

The PSA will release the 2025 fourth-quarter and full-year agriculture output data on Jan. 28, a day before the release of fourth-quarter and full-year preliminary gross domestic product (GDP) data on Jan. 29.

+

Agriculture output contributes about a tenth to GDP and a fourth of the country’s jobs.

]]> - https://www.bworldonline.com/wp-content/uploads/2026/01/Infra-construction-worker-1-300x200.jpg + https://www.bworldonline.com/wp-content/uploads/2026/01/Ricefield-farmer-300x200.jpg - Gov’t partnerships with private sector seen to boost transparency in public works projects - https://www.bworldonline.com/top-stories/2026/01/16/724637/govt-partnerships-with-private-sector-seen-to-boost-transparency-in-public-works-projects/ + Maybank sees Philippine economy growing below target until 2027 + https://www.bworldonline.com/top-stories/2026/01/21/725427/maybank-sees-philippine-economy-growing-below-target-until-2027/ - Thu, 15 Jan 2026 16:31:06 +0000 + Tue, 20 Jan 2026 16:31:36 +0000 - - https://www.bworldonline.com/?p=724637 - - - By Aubrey Rose A. Inosante, Reporter

-

TAPPING PRIVATE and development partners for state infrastructure projects may help improve efficiency and transparency as the Philippine government continues to deal with the economic fallout from a corruption scandal linked to public works.

-

Public-Private Partnership (PPP) Center Executive Director and Undersecretary Rizza Blanco-Latorre, who took office on Dec. 11, said teaming up with private entities for infrastructure projects could be a “feasible” option for the government.

-

“(The) PPP option enables the public to harness private sector expertise while at the same time ensuring that project delivery is performance-based, has optimal risks allocation, and holds private partners accountable throughout the project lifecycle, she told BusinessWorld in a Viber message on Dec. 19.

-

The Marcos administration is facing governance concerns as a wide-scale controversy involving anomalous state flood control and infrastructure projects linked to Public Works officials, lawmakers, and contractors has highlighted the systemic corruption that continues to hamper the delivery of public services, weighing on the Philippines’ economic prospects.

-

In the third quarter of 2025, Philippine gross domestic product (GDP) growth slowed to a more than four-year low of 4% as the graft scandal stalled both public and consumer spending.

-

Analysts have said that minimizing the government’s monopoly over infrastructure projects could be a key to curbing corruption.

-

Under the PPP model, the government can grant subsidies, tax breaks, guaranteed revenues, or asset transfers to attract private sector partners to help fund, build, and operate projects.

-

“The PPP Center has established relevant project development and project management interventions, as well as capacity building support, to enable concerned implementing agencies to pursue the said PPP option,” Ms. Blanco-Latorre said.

-

The PPP Code enables projects usually funded by the national budget to be carried out through the model and also allows for both solicited and unsolicited proposals.

-

A solicited proposal refers to projects that are identified by the implementing agency from the list of their priority projects, for which bids are invited from the public, while an unsolicited proposal is submitted by private sector proponents without formal solicitation from the government.

-

“We reiterate, though, the critical need to diligently structure these projects as PPPs to ensure the viability of private sector participation, manage implementation risks, and truly secure the best deal for government and the public,” she said.

-

PPP Center data as of Dec. 19 showed that the project pipeline consists of 251 projects valued at P2.81 trillion, while 290 projects worth P3.61 trillion are under implementation.

-

Acting Budget Secretary Rolando U. Toledo said that both private and development partners could help the government plug infrastructure gaps, with public spending now undergoing greater scrutiny.

-

“Strategic use of PPPs and concessional financing can help restore credibility and accelerate delivery given the additional layer of review that is being undertaken here by the oversight agencies,” he said in a statement sent to BusinessWorld via Viber message on Dec. 20.

-

Proposed projects are reviewed through inter‑agency deliberations to assess viability, while ongoing projects are regularly monitored for performance, he said.

-

“Given the downturn in public infrastructure spending brought about by the flood control issues, it is important that private construction steps up to cover the gaps we are now facing in the infrastructure development.”

-

Mr. Toledo added that PPPs have “big potential” as private sector interest in undertaking projects has increased since the passage of the PPP Code. However, this also heightens the need for stronger preparation, transparency, and accountability mechanisms at all stages of project delivery.

-

GOVERNANCE RISKS
-Infrastructure investment is a “critical” contributor to GDP as it directly contributes to output and has multiplier effects that can boost economic growth, Asian Development Bank (ADB) Country Director for the Philippines Andrew Jeffries said in an e-mailed statement on Dec. 18.

-

“There remains a need for public investment at scale to address critical infrastructure gaps — particularly in transport, energy, and digital connectivity — to strengthen the Philippines’ competitiveness as a destination for private investment,” he said.

-

“The greatest risk with a sustained reduction in public expenditure is if critical investment needs are not met, in turn depressing the country’s overall competitiveness and productivity. Regardless of the source of funds, execution and governance risks need to be managed to ensure the quality of infrastructure spending.”

-

Mr. Jeffries said the government should prioritize investments in social infrastructure where commercial returns are not attractive for private sector players.

-

“Private sector investment can increase efficiency and help in effective technology transfers. Multilateral development bank financing can be a source of long-term stable financing and best practices, and help deliver strong governance,” he added. “As the Philippines approaches upper middle-income country status, the private sector will need to play an increasingly significant role in driving innovation, job creation, and growth.”

-

The ADB is ready to support Philippine infrastructure development through both financing and policy support, Mr. Jeffries said.

-

“This support includes the ability to provide large-scale financing coupled with strong oversight of procurement, financial management, and project implementation. ADB’s support goes well beyond infrastructure project lending, however, and includes policy support and technical assistance to improve regulatory frameworks and the ease of doing business,” he said.

-

Improving the enabling environment for private investments and PPPs is also part of the ADB’s key support areas for the Philippines, he added.

-

“At the same time, recent issues also underscore that PPPs are not a substitute for strong public sector planning, governance, and oversight. In practice, the feasibility of an expanded PPP role will closely depend on sustained improvements in upstream project preparation, transparent and competitive procurement, and credible regulatory frameworks,” he said.

-

“Without these foundations, transferring more responsibility to private firms could shift — rather than reduce — project risks and costs.”

-

Nigel Paul C. Villarete, a senior adviser on PPPs at technical advisory group Libra Konsult Inc., said that it is necessary for a developing economy like the Philippines, whose spending requirements far exceed its capacity to generate revenues, to open the door for increased private sector participation in infrastructure projects while having the appropriate safeguards in place.

-

“While we do have a sizeable and increasing chunk of private sector investments, our annual development expenditures are still mostly public. But the possibility of boosting private investments in nation-building remains available and even necessary,” he said in a Viber message on Dec. 20. “We’re not placing or changing priority from one to the other — we’re just making use of available financing opportunities to support the main public fiscal spending, which should continue as the main source.”

-

However, the government must rebuild investor trust by implementing reforms, he said.

-

“As always investor confidence is key. No one will shell out money when uncertainties remain, more so when these include possible corruption issues. That’s why clear and proper rules and guidelines are necessary, [with] ambiguities minimized or even completely erased,” Mr. Villarete said.

-

“We also need to understand that private sector financing will be attractive when the private sector is allowed to generate an attractive rate of return. This is where the balance comes in. PPPs must be both attractive and safe for all sectors.”

-

Mr. Toledo also acknowledged that improving investor sentiment is key to ensuring the economy’s recovery amid the corruption mess.

-

“The main risk is if investors’ confidence remains low and therefore, it would not provide the needed boost to the GDP growth,” he said.

-

“Over the short term, growth outcomes will still depend on the government’s ability to instill confidence through its efficient spending and credible policies in addressing corruption.”

-]]> - - - - https://www.bworldonline.com/wp-content/uploads/2026/01/Road-repair-worker-300x200.jpg - - UAE-based G42 eyes up to $500-M investment in PHL data center — DICT - https://www.bworldonline.com/corporate/2026/01/16/724607/uae-based-g42-eyes-up-to-500-m-investment-in-phl-data-center-dict/ - - - Thu, 15 Jan 2026 16:08:57 +0000 - - - - https://www.bworldonline.com/?p=724607 + + https://www.bworldonline.com/?p=725427 - - THE PHILIPPINES is attracting renewed interest from global data center operators, with Abu Dhabi-based technology firm Group 42 Holding Ltd. (G42) planning to invest as much as $500 million (around P29.6 billion) in a new facility.

-

Department of Information and Communications Technology (DICT) Secretary Henry Rhoel R. Aguda said G42, which expressed interest toward the end of the Philippine delegation’s recent trip to Abu Dhabi, is considering an investment of $300 million to $500 million over three to five years.

-

“They still have a lot to do. They need to come to the Philippines and check the availability of land. With data centers, you also need power and water,” Mr. Aguda told a Palace briefing.

-

Combined with multiple international subsea cables linking the Philippines to global routes, the country is positioned as a potential data center hub in Southeast Asia.

-

Data center operators view the Philippines’ geography and connectivity as strategic, Mr. Aguda said, noting that strong digital infrastructure could allow the country to eventually export artificial intelligence (AI) services, treating AI computing like a utility delivered from local facilities.

-

“As for connectivity, they’re essentially already sold on that — it’s not a problem. The Philippines has many international subsea cables coming in from the north-south, northeast, and southwest routes,” he added.

-

Investors have also been encouraged by the near completion of the national fiber backbone, which runs from north to south, and the Luzon Bypass Infrastructure, which strengthens east-west connectivity.

-

Connectivity is no longer a constraint, Mr. Aguda said, with remaining considerations focused on securing suitable land with reliable power and adequate water access — key requirements for large-scale data centers.

-

President Ferdinand R. Marcos, Jr. was in the United Arab Emirates (UAE) earlier this week to witness the signing of a trade deal and a defense pact. During his trip, he and Mr. Aguda met with tech firm DAMAC Digital, which is exploring plans for what may become the country’s largest data center in Laguna.

-

The administration is offering priority support for the sector as part of its strategy to attract capital into high-value, tech-driven industries and position the Philippines as a regional hub for digital infrastructure amid rising demand from e-commerce, digital payments, and AI.

-

DAMAC Digital has committed over $3 billion to Southeast Asia and plans 250 megawatts of operational capacity in the region by 2026. — Chloe Mari A. Hufana

+ + PHILIPPINE ECONOMIC growth may continue to undershoot the government’s targets until next year as the lingering effects of the flood control corruption scandal will likely derail recovery, Maybank Investment Banking Group said.

+

Maybank economist Azril Rosli said the country’s gross domestic product (GDP) may have grown by 4.8% in 2025, before picking up slightly to 4.9% in 2026. This was down from their earlier estimates of 5.6% and 5.8%, respectively.

+

If realized, these will fall short of the government’s targets of 5.5%-6.5% for 2025 and 5%-6% for 2026.

+

“So, we did some quantification on the… impact of the flood control (issue on the Philippine economy). Based on the quantification, we actually revised our GDP growth for the Philippines to 4.8% in 2025 and to 4.9% in 2026,” Mr. Rosli told a media briefing on Tuesday.

+

“I think… currently the important significant features that we are looking at (are) driven by the flood control spending cuts, as well as the broader Department of Public Works and Highways (DPWH) budget consolidation,” he added. “We thought that the quantification is expected to derail the government’s medium-term economic targets.”

+

Last year, investigations into anomalous flood control projects across the country uncovered widescale corruption involving lawmakers, DPWH officials and private contractors.

+

The controversy weakened consumer and investor sentiment as well as slowed government spending and household consumption, driving GDP growth to an over four-year low of 4% in the third quarter. As of end-September, GDP growth stood at 5%.

+

However, Maybank analysts said the lower end of this year’s target is still attainable if private consumption, which accounts for about 43% of GDP, will pick up.

+

“(At) the end of the day, it’s really the consumer segment that’s the biggest driver for the Philippines. So, as long as your underlying demand remains quite robust… then the 5%, to a certain extent, is achievable,” Kervin Sisayan, head of equity research at Maybank Securities Philippines, said.

+

Mr. Rosli likewise said that the government’s renewed push for reforms and catch-up plans, if materialized, could provide some boost for domestic demand and investment climate in the near term.

+

“We’ll see clearer policy direction, improved regulatory certainty, and stronger public-private engagement that can help unlock delayed private investment and accelerate project implementation,” he said.

+

“So, this could definitely help in terms of, especially on infrastructure, energy as well as strategic industries. And, this could also provide (a) meaningful boost to domestic demand in the second half of the year.”

+

For 2027, Maybank expects the economy to expand by 5.2%, also below the 5.5%-6.5% aimed by the government.

+

If Maybank’s projections until 2027 hold true, the Philippines would miss its growth targets for a fifth straight year.

+

INFLATION TO PICK UP
+Meanwhile, Maybank said Philippine inflation is expected to accelerate this year due to base effects, stabile utility costs and a weak peso in the first half.

+

The bank sees the consumer price index picking up to 2.2% this year from 1.7% in 2025. If realized, inflation will be back to the Bangko Sentral ng Pilipinas’ (BSP) 2%-4% target.

+

“Looking ahead, inflation is suspected to gradually pick up to around 2.2% in 2026, moving closer to the BSP’s target range as base effects fade and utility-related costs stabilize,” Mr. Rosli said.

+

He also noted that geopolitical tensions and exchange rate volatility pose risks to transport inflation, which could bring price pressures this year.

+

On Jan. 15, the peso slumped to a fresh low of P59.46 against the dollar, surpassing the previous record of P59.44 versus the greenback on Jan. 14.

+

Amid this macro backdrop, Maybank sees room for deeper cuts this year to bring the benchmark policy rate to 4%.

+

Mr. Rosli said the central bank will likely deliver one 25-basis-point (bp) cut in each half of the year.

+

“We’re maintaining vigilance on emerging risks from the external trade outlook, as well as geopolitical tensions and tariff-related uncertainties,” he said.

+

“So, the policy stance balances providing monetary accommodation to support economic activity while preserving credibility on inflation control, as well as maintaining adequate policy space for future shocks.”

+

The Monetary Board has so far lowered key borrowing costs by 200 bps since August 2024, bringing it to an over three-year low of 4.5%.

+

BSP Governor Eli M. Remolona, Jr. has said that they could consider easing further but noted that it may be unlikely given current economic data and as the policy rate is already close to where they want it to be.

+

Still, he left the door open for two 25-bp cuts this year if economic growth turns out weaker than they anticipated.

+

The Monetary Board is set to have its first policy review this year on Feb. 19. — Katherine K. Chan

]]> - https://www.bworldonline.com/wp-content/uploads/2026/01/Data-center-engineer-coding-on-notebook-adjusting-power-settings-300x169.jpg + https://www.bworldonline.com/wp-content/uploads/2026/01/Public-market-shopper-3-300x200.jpg - Meralco sees interest from top power firms for 200-MW RE supply - https://www.bworldonline.com/corporate/2026/01/16/724605/meralco-sees-interest-from-top-power-firms-for-200-mw-re-supply/ + ACEN to invest P60B in PHL solar, wind, and battery projects + https://www.bworldonline.com/corporate/2026/01/21/725466/acen-to-invest-p60b-in-phl-solar-wind-and-battery-projects/ - Thu, 15 Jan 2026 16:07:41 +0000 + Tue, 20 Jan 2026 16:09:50 +0000 - https://www.bworldonline.com/?p=724605 + https://www.bworldonline.com/?p=725466 - - SUBSIDIARIES of ACEN Corp., First Gen Corp., San Miguel Global Holdings Corp. (SMGP), and Aboitiz Power Corp. (AboitizPower) are looking to bid for Manila Electric Co.’s (Meralco) 200-megawatt (MW) renewable energy (RE) supply requirements.

-

All 15 companies that expressed interest and attended Thursday’s pre-bid conference were major players in the country’s power sector.

-

Ayala-led ACEN Corp., along with its subsidiaries SanMar Solar, Negros Island Solar, and Sinocalan Solar Power, indicated interest in supplying Meralco’s renewable energy needs.

-

Lopez-led First Gen and its subsidiaries, including First Gen Hydro, Energy Development Corp., BacMan Geothermal, and Greencore Geothermal, also participated in the conference.

-

SMGP subsidiaries Mariveles Power Generation, and Sual Power expressed their interest in joining the bidding.

-

Aboitiz Power Corp.’s subsidiaries, including AP Renewable Energy, GNPower Mariveles Energy Center, Therma Luzon, and Therma Visayas, are also expected to participate. GNPower Kauswagan is owned by Power Partners, a partner of AboitizPower.

-

AboitizPower, SMGP, First Gen, and ACEN were the country’s leading power producers, dominating the national market share last year, according to the Energy Regulatory Commission (ERC).

-

Since the bid submission deadline on Feb. 16 is after the proposed effective date of Jan. 26, Meralco said the latter will be moved depending on when the ERC approves the resulting power supply contract.

-

The four-year agreement aims to help Meralco comply with the Renewable Portfolio Standards, which require distribution utilities to source a portion of their electricity from eligible renewable energy sources.

-

Suppliers, whether renewable, conventional, or a combination, can fulfill the supply requirements from their own plants or the spot market, provided that renewable energy certificates (RECs) are guaranteed. Each REC represents a megawatt-hour of electricity generated from eligible RE sources.

-

“As a highly regulated entity, Meralco remains fully committed to upholding the highest standards of transparency, fairness, and regulatory compliance throughout the CSP (competitive selection process),” said Lawrence S. Fernandez, chairman of Meralco’s bids and awards committee for power supply agreements.

-

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc. Hastings Holdings, a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Sheldeen Joy Talavera

+ + RENEWABLE ENERGY developer ACEN Corp. is expected to allocate the bulk of its P80-billion capital expenditure (capex) this year to the development of its major renewable energy projects in the Philippines.

+

Speaking to reporters on Tuesday, ACEN President and Chief Executive Officer Eric T. Francia said the budget will finance solar, wind, and battery storage projects currently in the company’s pipeline.

+

“Over 60 billion [is allocation for] the Philippines alone,” Mr. Francia said.

+

If realized, the P80-billion capex would surpass last year’s actual spending of around P55 billion.

+

ACEN currently operates 4.3 gigawatts (GW) of renewable energy projects across its markets, including the Philippines, Australia, Vietnam, India, Indonesia, Laos, and the United States.

+

Mr. Francia said the company expects to end the year with more than 5 GW of operational renewable energy capacity, as around 1 GW of projects is set to be energized this year.

+

“We’ll be more than 5 GW operational expected by end of this year. And then we should be close to 7 GW operational by next year,” he said, referring to projects under construction and backed by signed agreements.

+

The company also anticipates improved performance this year compared with 2025, supported by additional output from recently energized plants and those scheduled to come online.

+

“The wind farms that were impacted in late 2024 by the typhoon have been substantially restored already since the third quarter of last year,” Mr. Francia said.

+

“So the plants have been stable in terms of operations. That would definitely add to the volume output.”

+

For the nine months ending September, ACEN posted a 78% drop in attributable net income to P1.79 billion from P8.14 billion a year ago.

+

Revenues fell 18% to P23 billion from P28 billion in the previous year, reflecting softer electricity prices and lower power generation output.

+

On the local bourse on Tuesday, ACEN shares fell 3.92% to close at P2.94 apiece. — Sheldeen Joy Talavera

]]> - https://www.bworldonline.com/wp-content/uploads/2024/05/Meralco_LineMan-300x200.jpg + https://www.bworldonline.com/wp-content/uploads/2025/12/ACEN-Arayat-Mexico-Solar-plant-300x200.jpeg - Basic Energy earmarks P1.9B for 43-MW solar project in Negros - https://www.bworldonline.com/corporate/2026/01/16/724482/basic-energy-earmarks-p1-9b-for-43-mw-solar-project-in-negros/ + Art Fair Philippines makes another move + https://www.bworldonline.com/arts-and-leisure/2026/01/21/725340/art-fair-philippines-makes-another-move/ - Thu, 15 Jan 2026 16:06:11 +0000 - + Tue, 20 Jan 2026 16:08:31 +0000 + - - https://www.bworldonline.com/?p=724482 + + https://www.bworldonline.com/?p=725340 - - LISTED Basic Energy Corp. is allocating around P1.9 billion for the development of a 43.41-megawatt alternating current (MWac) solar power project in Cadiz City, Negros Occidental.

-

In a disclosure on Thursday, the company said it received a certificate of award from the Department of Energy (DoE) following its successful bid in the fourth round of the green energy auction (GEA-4).

-

GEA-4 projects cover technologies such as ground-mounted, roof-mounted, and floating solar; onshore wind; and integrated solar with energy storage systems.

-

“With the receipt of the certificate of award, the company is advancing the completion of the remaining project requirements, including the execution of the necessary agreements, in preparation for the development and delivery of the project to the Visayas grid,” Basic Energy said.

-

The solar project is slated to begin commercial operations on or before the end of the year.

-

Basic Energy Chief Executive Officer Oscar L. de Venecia, Jr. said construction has not yet started, as the company is completing remaining pre-development requirements. The start of construction will follow once these requirements are finalized, in line with the project’s overall development timeline. 

-

“The company is mindful of the project’s delivery commitment and is managing the development work accordingly. However, construction will only commence after the remaining pre-development requirements are completed,” he said.

-

Last year, he said the company allocated up to P300 million to finance pre-development activities for its renewable energy projects over the next two to three years.

-

Basic Energy is pursuing three solar projects with a combined potential capacity of around 150 MW and aims to build a 1-gigawatt renewable energy portfolio by 2030.

-

At the local bourse on Thursday, shares of the company rose 8.06% to close at P0.134 per share. — Sheldeen Joy Talavera

+ + ART FAIR Philippines has moved away from the central business district in the Ayala Avenue area that had served as its home for years — first at the car park next to the Shangri-La Makati, then the Ayala Triangle garden — to a completely different area of Makati. The 13th edition of the art fair will occupy Circuit Corporate Center One at Circuit Makati, from Feb. 6 to 8.

+

For the fair’s founders — Trickie Colayco-Lopa, Lisa Ongpin-Periquet, and Geraldine “Dindin” Araneta — there’s great potential to be found in the new venue. There, six floors of an office building will be repurposed for the fair.

+

While it may seem like an odd journey from a carpark to an urban garden and now to an office building, the three expressed their eagerness to continue growing a local audience for contemporary art in another part of the city.

+

“This year’s edition is not just an art fair — it’s the start of a bigger cultural ecosystem in the heart of Makati,” Ms. Lopa told the media at a press conference in Circuit, the former Santa Ana racetrack that Ayala started developing in 2011. “They have a mall complex and a performing arts theater here, and soon they will have an arts hub,” she said.

+

Ms. Araneta added that the contemporary art museum being built by Ayala by the Pasig River (slated for completion in 2027) is one of the reasons art enthusiasts must get used to the area.

+

GETTING THERE
+There will be hourly P2P buses from the One Ayala transport hub on EDSA corner Ayala Ave., to cater to fairgoers coming from the central business district. The bus will stop right in front of Circuit Corporate Center One.

+

“It’s not that far. It’s not that bad, but I understand it’s also a psychological thing — that it’s not where it used to be, in the center of Makati,” Ms. Periquet said. Art Fair Philippines is also partnering with Grab to offer a promo code.

+

She explained that having the corporate center repurposed is an exciting part of the Art Fair.

+

“We’ve had a rich history of adaptive reuse of space, especially in a country like the Philippines where we lack the infrastructure, so it’s an appropriate adjustment for us. Adaptive reuse is a practical move,” said Ms. Araneta. “This year, it’s six floors of an office building with glass partitions, so design firm Leandro V. Locsin and Associates is working with that element to carve out gallery spaces.”

+

The art fair will occupy levels six to 11 of Circuit Corporate Center One. They will be serviced by eight elevators in total, to accommodate persons with disabilities (PWDs).

+

“I invite people to be adventurous. They’re building up this space as an art hub. There will be a contemporary art center coming up in the corner by the river in a very beautiful site, so it’s good to get used to this space,” Ms. Periquet added. “It’s exciting to have a new place every year, but it’s hard for us because planning it is not easy.”

+

All three founders shared that they aim for the move to Circuit, Makati, to be permanent.

+

EXHIBITORS AND HIGHLIGHTS
+This year’s fair will have exhibitors from the Philippines, France, Hong Kong, Indonesia, Japan, Korea, Malaysia, Singapore, Taiwan, Vietnam, and Spain.

+

They are: 125 Projects, Ames Yavuz, Archivo 1984, Art Agenda, Art Cube Gallery, Art for Space, Art Lounge Manila, Art Underground, Art Verité Gallery, Artemis Art, Avellana Art Gallery, Boston Art Gallery, Caiyun Art, Cartellino, Cayón, CCP x Scarletbox, Core Contemporary, Der-Horng Art Gallery, FotomotoPH, Gajah Gallery, Galerie Stephanie, Gallery Kogure, ISTORYA STUDIOS, J Studio, Kaida Contemporary, Kawata Gallery, León Gallery, Modeka Art, Museo Trece, Orange Project, Parallel+, Pintô Art Museum and Arboretum, Qube Gallery, Rose Studio Art Gallery, SHUKADO + SCENA, Silverlens, Tarzeer Pictures, The Columns Gallery, The Crucible Gallery, The METRO Gallery, TLYR Collective, Tomura Lee, Triangulum, Village Art Gallery, Vin Gallery, White Walls Gallery, Yeo Kaa (Ames Yavuz), YOD Gallery, and Ysobel Art Gallery.
+This year’s edition aims to have “greater spatial flexibility and a more integrated environment for galleries, curated projects, and public programming.”

+

The ArtFairPH/Projects section will be celebrating artistic excellence and experimental innovation, with a focus on modern masters and contemporary visionaries. It will be placed in an exhibition space designed by Nazareno/Lichauco. Artists featured are Imelda Cajipe Endaya, Ambie Abaño, Max Balatbat, Ged Unson Merino, Jon and Tessy Pettyjohn, Filipino diaspora artists from Berlin-based Sa Tahanan Co. collective, Spanish artist Ampparito, and four late Filipino masters: Brenda Fajardo, Constancio Bernardo, Solomon Saprid, and Romeo Tabuena.

+

“There’s a wonderful variety in our Projects section this year. We have so many featured artists each year — sometimes six, sometimes eight — and this time we have 11,” Ms. Periquet said. “There’s social realism, geometric abstraction, printmaking, installation art, ceramics. There’s really a variety.”

+

The ArtFairPH/Residencies section this year will welcome Anne-Laure Lemaitre as the curator for the residency grant. An independent curator and producer based in New York, Ms. Lemaitre is recognized for her work in cross-disciplinary projects and her expertise in navigating the intersection of public art, technology, and cultural storytelling. Applications are now officially open, inviting artists to engage in this transformative cross-cultural dialogue.

+

This year’s ArtFairPH/Talks, handled by the Ateneo Art Gallery and the Museum Foundation of the Philippines, will present daily discussions that dive into the evolving art landscape, including project artists’ work at the fair and experts’ views on art collecting and the art market. Speakers and specific topics for the 2026 sessions will be announced on the fair’s website.

+

Now on its fourth year, the ArtFairPH/Digital section will feature painter and graphic artist TRNZ’s animated short film The Keeper, created in collaboration with Fleet Studios. It explores “the gravity of pressure in our society, and how important things fall through the cracks in pursuit of success, accolades, and external validation.”

+

There will also be an immersive installation by TLYR Collective. It will center on the theme of “digital alchemy,” where the fluidity of identity in virtual spaces is explored and the boundary between physical and simulated is challenged using generative art and augmented reality.

+

10 DAYS OF ART
+Complementing the fair is the 10 Days of Art initiative, a series of events, public installations, and museum openings held around Makati City from Jan. 30 to Feb. 8.

+

Some of the public art include a usable carousel of fantastical creatures by Ronald Ventura at Ayala Malls Circuit, an interactive piece called Signs and Intimations by Alfredo and Isabel Aquilizan at the Fountain Area of Ayala Tower One, and Nagsasalitang Ulo by Mich Dulce and Art 2 Wear by Joel Wijangco, both at Greenbelt 5.

+

Photography collective FotomotoPH will also transform the Paseo Underpass into a display of local photography, while Isaiah Cacnio will present his digital work Between Thoughts on the walls of the One Ayala Mall Terminal, the Glorietta 4 Cinema, the Glorietta Activity Center, Greenbelt 4, and Circuit Mall Makati.

+

A regular day pass to the fair is P750. Tickets for students, senior citizens, and PWDs with valid IDs are P500. Makati students and teachers with valid IDs can get tickets for a discounted price of P300.

+

Tickets can be purchased in advance at www.artfairphilippines.com. They will also be available at the reception area for the duration of the event. For more information, visit the Art Fair Philippines website and follow Art Fair Philippines on Instagram (@artfairph) and Facebook (www.facebook.com/artfairph). — Brontë H. Lacsamana

]]> - https://www.bworldonline.com/wp-content/uploads/2022/06/solar-panels-300x197.jpg + https://www.bworldonline.com/wp-content/uploads/2026/01/AFP-2026-POSTER-A-thumb-300x200.jpg - Peso slips to fresh record low on rate cut bets - https://www.bworldonline.com/banking-finance/2026/01/16/724580/peso-slips-to-fresh-record-low-on-rate-cut-bets/ + PSEi may approach 7,000 in 2026 on supportive macro, regulatory factors — ICCP + https://www.bworldonline.com/corporate/2026/01/21/725441/psei-may-approach-7000-in-2026-on-supportive-macro-regulatory-factors-iccp/ - Thu, 15 Jan 2026 16:06:03 +0000 - + Tue, 20 Jan 2026 16:08:17 +0000 + - - - - https://www.bworldonline.com/?p=724580 + + https://www.bworldonline.com/?p=725441 - - THE Philippine peso weakened to a new record low against the dollar on Thursday as markets priced in the possibility that the Bangko Sentral ng Pilipinas (BSP) could cut interest rates ahead of the US Federal Reserve.

-

The local currency closed at P59.46 a dollar, down two centavos from Wednesday’s record-low finish of P59.44, data from the Bankers Association of the Philippines showed.

-

The peso opened Thursday’s session slightly stronger at P59.43, touched an intraday high of P59.35, and weakened to as low as P59.47. Dollar trading volume rose to $1.079 billion, higher than the $951 million recorded the previous day.

-

“The dollar-peso closed higher on prospects of a narrowing interest rate differential, with the BSP expected to cut rates before the Fed,” a trader said by telephone.

-

Another trader said the peso continued to soften after recent US producer inflation and retail sales data underscored the resilience of the American economy, reinforcing expectations that the Fed will keep policy rates unchanged in the coming months.

-

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said market expectations of a BSP rate cut at its February policy meeting also weighed on the peso.

-

BSP Governor Eli M. Remolona, Jr. said last week that a rate cut at the Monetary Board’s Feb. 19 meeting “remains on the table” but is “unlikely,” as the central bank is nearing the end of its easing cycle.

-

The BSP has reduced its benchmark rate by a total of 200 basis points since August 2024, bringing the policy rate to a more than three-year low of 4.5%.

-

Despite the peso’s weakness, the BSP sees no need for immediate intervention. Palace Press Officer Clarissa A. Castro said the central bank continues to closely monitor exchange-rate movements and is prepared to act if necessary.

-

“The Bangko Sentral ng Pilipinas continues to monitor the peso-dollar exchange rate so it can take appropriate action if needed,” she told a news briefing in Filipino. “For now, the central bank is confident that intervention is not required.”

-

She said the peso’s depreciation reflects global developments, including the strength of the US dollar driven by expectations on Fed policy and geopolitical tensions abroad.

-

The government is working to mitigate the impact of a weaker peso by slowing price increases, supporting investments, and strengthening key economic sectors, she added.

-

MUFG Global Markets Research Senior Currency Analyst Michael Wan said the peso might remain more sensitive to oil price movements than some of its regional peers, although further oil price increases are not his base case scenario.

-

“Further oil price increases is not our base case, and we will look to see if the peso retraces some weakness on these recent oil price moves,” he said.

-

Traders said the peso could continue testing record lows until the BSP and Fed hold their respective policy meetings, unless the US central bank signals a shift toward rate cuts.

-

However, movements will remain data-dependent, particularly on US inflation and labor market indicators. 

-

For Friday, the first trader sees the peso trading from P59.20 to P59.50 a dollar, while the second trader expects a range of P59.25 to P59.50.

-

Mr. Ricafort said the local currency could move from P59.35 to P59.55, noting that strong foreign exchange reserves and continued net foreign buying in the local stock market might help cushion further depreciation. — Aaron Michael C. Sy

+ + THE PHILIPPINE Stock Exchange index (PSEi) may approach the 7,000 mark this year, supported by falling interest rates, steady economic conditions, and regulatory reforms, according to the Investment & Capital Corporation of the Philippines (ICCP).

+

ICCP President and Chief Operating Officer Manny Ocampo said he is “cautiously optimistic” about the market but warned that full-year 2025 corporate results could trigger short-term volatility.

+

“We are cautiously optimistic for the market, maybe looking at the PSEi hitting 7,000 for 2026, bearing no big negative surprises,” he said in a statement on Tuesday.

+

The PSEi closed at 6,052.92 on Dec. 29, 7.3% lower than the 6,528.79 close on Dec. 27, 2024. However, the benchmark index recently staged a strong rebound, rising 1.52% or 97.72 points to 6,487.53 on Jan. 15, its highest finish in six months. The broader all-share index also gained 0.68% or 24.76 points to 3,660.7.

+

Mr. Ocampo said the recent rise in the PSEi reflects a “catch-up” phase compared with regional peers, noting that market momentum could build further barring major external shocks.

+

He also noted that slower business activity in certain sectors and unforeseen disruptions could lead to temporary swings.

+

From a macroeconomic perspective, 2026 is expected to be a year of consolidation, he said, with inflation projected by the Bangko Sentral ng Pilipinas (BSP) to accelerate to 3.2% before cooling to 3% in 2027, gross domestic product growth forecast at 5.5%-6.5%, and interest rates set for another 25-basis-point (bp) reduction.

+

The BSP on Dec. 11 delivered a fifth straight 25-bp reduction in benchmark interest rates, bringing the policy rate to an over three-year low of 4.5%. It has lowered borrowing costs by a total of 200 bps since its rate cut cycle began in August 2024.

+

“Starting this year, we will see a lot of the renewable energy projects coming online. That should have a positive impact on energy costs overall,” Mr. Ocampo said, citing the ongoing shift toward non-fossil fuel energy.

+

Regulatory reforms are also expected to provide a boost to the market.

+

Recent changes to real estate investment trusts (REITs) rules expand eligible income-generating assets beyond traditional offices and malls to include tollways, water systems, data centers, telecom towers, and other infrastructure, the ICCP noted.

+

The Securities and Exchange Commission (SEC) has also extended reinvestment deadlines and strengthened disclosure and governance requirements.

+

The Philippines currently has eight listed REITs covering offices, hotels, malls, land, renewable energy, and infrastructure segments, including AREIT, Inc., DDMP REIT, Inc., Filinvest REIT Corp., RL Commercial REIT, Inc., MREIT, Inc., VistaREIT, Inc., Citicore Energy REIT Corp., and Premier Island Power REIT Corp.

+

In addition to REITs, ICCP is monitoring potential initial public offerings (IPOs) this year.

+

The PSE is targeting four potential listings this year, doubling last year’s two IPOs.

+

Companies that are eyeing going public, according to the exchange, include electronic wallet platform GCash and PNB Holdings Corp.’s planned listing by way of introduction.

+

On Tuesday, the PSEi went down by 1.31% or 84.92 points to close at 6,352.86, while the all shares index declined by 1.02% or 37.39 points to finish at 3,606.81. — A.G.C. Magno

]]> - https://www.bworldonline.com/wp-content/uploads/2022/10/peso-dollar-300x200.jpg + https://www.bworldonline.com/wp-content/uploads/2022/07/PSE-trading-floor-traders-300x200.jpg - Fintech firms may drive IPO activity - https://www.bworldonline.com/banking-finance/2026/01/16/724574/fintech-firms-may-drive-ipo-activity/ + Art as ‘pure intention’ at the Singapore Biennale + https://www.bworldonline.com/arts-and-leisure/2026/01/21/725339/art-as-pure-intention-at-the-singapore-biennale/ - Thu, 15 Jan 2026 16:05:43 +0000 - + Tue, 20 Jan 2026 16:07:30 +0000 + - - https://www.bworldonline.com/?p=724574 + + https://www.bworldonline.com/?p=725339 - - THE financial technology (fintech) sector is expected to drive initial public offering (IPO) activity in the Philippine stock market later this year through 2027, Citigroup Inc. (Citi) said, as investor interest gradually returns to the local equity market.

-

Rob Chan, head of Equity Capital Markets (ECM) Syndicate for Asia at Citi, said the Philippine equity market is likely to remain stable, with several companies — particularly fintech firms — seen lining up potential listings.

-

“We could see more (IPO activity) coming from the Philippines, but that’s, to my understanding, perhaps later in the year, or perhaps even slipping into 2027,” he told reporters.

-

“What we are excited to see is, to the extent there’s going to be growth in businesses, especially around fintech names that investors are expecting,” he added.

-

IPO activity in the Philippines has been muted in recent years. In 2025, only two companies completed their listings, falling short of the Philippine Stock Exchange’s (PSE) target of six IPOs.

-

Cebu-based fuel distributor and retailer Top Line Business Development Corp. listed in April, while Maynilad Water Services, Inc. completed its IPO in November.

-

Mr. Chan said the Philippine market has historically not been among the region’s most active in terms of equity capital market transactions, citing relatively low trading liquidity as a key concern for international investors.

-

“The lower trading liquidity is something investors are very focused on,” he said.

-

Still, he pointed to Maynilad’s $500-million IPO and its strong aftermarket performance as a positive signal for the local market.

-

To see a transaction of that size trade well is a “very positive sign,” he said, adding that such deals help build confidence in the Philippines as an investment destination.

-

The PSE is targeting four potential listings this year, including electronic wallet platform GCash and PNB Holdings Corp.’s planned listing by way of introduction.

-

GCash was initially slated to go public last year, but its operator, Globe Fintech Innovations, Inc., deferred the plan due to weak market conditions.

-

Mr. Chan said the successful execution of these offerings could help lift overall equity capital market activity compared with recent years and attract greater interest from global investors.

-

“As those IPOs actually happen, that could increase the overall level of global investor focus on the Philippines,” he said.

-

He added that while Singapore remains the dominant market for equity capital transactions in Southeast Asia, the Philippines has shown gradual year-on-year growth in capital market activity over the past three years, with annual deal values reaching about $1 billion.

-

Mr. Chan said international investors are likely to continue focusing on larger, well-established Philippine companies with clear growth narratives, particularly in sectors such as fintech.

-

The Philippine Stock Exchange index rose 1.52% or 97.72 points to close at 6,487.53, while the broader all-share index gained 0.68% or 24.76 points to 3,660.70. — Katherine K. Chan

+ + + + #tdi_1 .td-doubleSlider-2 .td-item1 { + background: url(https://www.bworldonline.com/wp-content/uploads/2026/01/Tan-Pin-Pins-On-a-Clear-Day-You-Can-See-Forever-juxtaposes-footage-of-Inuka-Singapores-first-polar-bear-born-in-captivity-and-the-citys-relentless-drive-toward-efficiency-80x60.jpg) 0 0 no-repeat; + } + #tdi_1 .td-doubleSlider-2 .td-item2 { + background: url(https://www.bworldonline.com/wp-content/uploads/2026/01/Eisa-Jocsons-The-Filipino-Superwoman-X-H.O.M.E.-Karaoke-Living-Room.-Image-courtesy-of-Singapore-Art-Museum.-2-80x60.jpg) 0 0 no-repeat; + } + + + + +

From museum halls to Lucky Plaza, art unfolds where lives are actually lived.

+

By Lito B. Zulueta

+

RUNNING since Oct. 31, 2025 until March 29 this year, the 8th edition of the Singapore Biennale coincidentally becomes part of Singapore Art Week on Jan. 22-31, unfolding across the city with a quiet but firm confidence. Commissioned by the National Arts Council and organized by the Singapore Art Museum (SAM), the Biennale marks Singapore’s 60th year as a nation while reaffirming its status as a major platform for contemporary art in Southeast Asia.

+

With the theme, “Pure Intention,” the biennale extends across five key locations — the Civic District, Wessex Estate, Tanglin Halt, Orchard Road, and SAM at Tanjong Pagar Distripark — transforming both familiar and overlooked spaces into sites of reflection, encounter, and critique.

+

The theme “pure intention” resists spectacle for spectacle’s sake. According to the curatorial team (Duncan Bass, Hsu Fang-Tze, Ong Puay Khim, and Selene Yap), the Biennale asks how art can help people see the city anew by engaging deeply with space, history, identity, and transformation.

+

Rather than presenting grand gestures, the exhibition privileges embeddedness: art situated within lived environments, attentive to everyday rhythms, and responsive to social realities. SAM Director Eugene Tan explained that when art is woven into the environment, it allows audiences to imagine possible futures collectively, grounded in the city’s layered past.

+

ORCHARD ROAD
+Nowhere is this more palpable than along Orchard Road, Singapore’s iconic shopping belt.

+

At Lucky Plaza, Filipino artist Eisa Jocson presents The Filipino Superwoman X H.O.M.E. Karaoke Living Room, an installation developed in collaboration with Filipino domestic workers.

+

Transforming a shop unit into a familiar Filipino living room, the work invites visitors to sing karaoke to newly produced videos that foreground resilience, humor, and collectivity.

+

The choice of Lucky Plaza is crucial: on Sundays, it becomes the principal social hub for Filipina domestics on their day off, making Jocson’s work inseparable from the lived realities of care, labor, and migration.

+

Jocson’s background as a choreographer, dancer, and visual artist deeply informs this project. Known for works such as “Death of the Pole Dancer,” “Macho Dancer,” and “Host,” Jocson interrogates how bodies — especially Filipino bodies — are disciplined, commodified, and mobilized within global economies of entertainment and service.

+

Her Lucky Plaza installation resonates her “Happyland” series, particularly Princess (2017), which exposed Filipino labor through a Disneyland performance. Both works show how joy, hospitality, and performance are demanded forms of labor, masking structural inequities beneath smiles and spectacle.

+

Nearby, in another mall unit, Singaporean filmmaker Tan Pin Pin’s installation juxtaposes two moving images: footage of Inuka, Singapore’s first polar bear born in captivity, swimming endlessly within an artificial Arctic enclosure; and 80km/h, a work updated annually using dashcam footage that maps the city’s relentless drive toward efficiency. Together, they stage a tension between the biological and the engineered, between cyclical life and bureaucratic speed, suggesting that progress is neither seamless nor innocent.

+

SAM AT TANJONG PAGAR
+From Orchard Road, the Biennale’s contemplative arc leads to SAM at Tanjong Pagar Distripark. Here, history, technology, memory, and desire intersect across multiple galleries.

+

At the entrance, CAMP’s Metabolic Container transforms a shipping container into a living archive of trade, filled with everyday goods moving weekly between Singapore and Batam, Indonesia nearby.

+

Inside, Paul Chan’s Khara En Tria (Joyer in 3) animates the foyer with brightly colored figures that sway and inflate, reimagining classical ideas of the body through movement and air.

+

Gallery 1 brings together works that unsettle linear narratives of progress.

+

Pierre Huyghe’s Offspring uses AI to orchestrate light, smoke, and sound in response to environmental changes and visitor presence, creating an ever-shifting ecosystem.

+

Álvaro Urbano’s metallic plants evoke orchid diplomacy and plantation histories, while Cui Jie’s Thermal Landscapes paints watchtowers as surreal monuments to modernist aspiration.

+

Ju Young Kim’s hybrid sculptural forms merge aircraft components with Art Nouveau glass, reflecting on desire and displacement in an age of mobility.

+

LOST CULTURAL SPACES
+Among these, Ming Wong’s Filem-Filem-Filem stands out for its quiet poignancy. Composed of digitally manipulated photographs presented in Polaroid form, the series documents abandoned and repurposed cinemas across Singapore and Malaysia.

+

Hyperreal yet deeply nostalgic, the images capture the faded grandeur of cinema architecture, evoking a collective memory of film-going as communal ritual. In a Biennale concerned with intention and continuity, Wong’s work gently mourns cultural spaces lost to redevelopment while affirming their lingering emotional power.

+

Overall, the Singapore Biennale’s 8th edition confirms its role as a sensitive barometer of contemporary art in Southeast Asia. If pure intention is measured by consistency — by sustained commitment rather than fleeting spectacle — then the SG Biennale demonstrates it through careful curatorship, site-responsive works, and ethical attentiveness.

]]> - https://www.bworldonline.com/wp-content/uploads/2025/01/SF_PSE-trading-floor-640x427-OL-300x200.jpg + https://www.bworldonline.com/wp-content/uploads/2026/01/Tan-Pin-Pins-On-a-Clear-Day-You-Can-See-Forever-juxtaposes-footage-of-Inuka-Singapores-first-polar-bear-born-in-captivity-and-the-citys-relentless-drive-toward-efficiency-300x200.jpg - JFC reports stable domestic sales, strong overseas growth in Q4 2025 - https://www.bworldonline.com/corporate/2026/01/16/724604/jfc-reports-stable-domestic-sales-strong-overseas-growth-in-q4-2025/ + Hotel101 to build 766-room condotel in Melbourne as part of global expansion + https://www.bworldonline.com/corporate/2026/01/21/725440/hotel101-to-build-766-room-condotel-in-melbourne-as-part-of-global-expansion/ - Thu, 15 Jan 2026 16:05:41 +0000 + Tue, 20 Jan 2026 16:07:16 +0000 + - https://www.bworldonline.com/?p=724604 + https://www.bworldonline.com/?p=725440 - - JOLLIBEE Foods Corp. (JFC) said it saw stable domestic demand and strong overseas growth in the fourth quarter (Q4) of 2025, led by Vietnam.

-

“Since our December update, the operating environment and business trends have remained broadly consistent with our prior disclosures,” JFC Chief Financial and Risk Officer Richard Shin said in a statement on Thursday.

-

“Customer demand has been stable across key markets, and network expansion continues to be supported by strong franchise engagement, reinforcing our asset light growth strategy,” he added.

-

The company said preliminary indicators showed solid system-wide and same-store sales growth in Q4 2025.

-

In the Philippines, Jollibee Group’s Champion Brands, including Jollibee, Chowking, and Mang Inasal, drove domestic system-wide and same-store sales growth through brand equity and consumer engagement, with fourth-quarter results showing improving demand amid a challenging operating environment.

-

Vietnam, Jollibee Group’s largest overseas market by store count, recorded high double-digit system-wide and same-store sales growth that outperformed peers, supported by strong market position and asset-light expansion, the company said.

-

“The Tim Ho Wan (THW) concept continues to emerge as a strategic growth engine for the Jollibee Group, highly complementary to the Group’s portfolio and well positioned for long-term global expansion,” it said.

-

In January 2025, JFC completed its takeover of Tim Ho Wan through its subsidiary Jollibee Worldwide Pte. Ltd., acquiring 166.46 million shares from Titan Dining Group Ltd. for $20.2 million under a share purchase agreement signed in November 2024.

-

“In Hong Kong, store operations have stabilized and returned to profitability, reinforcing confidence in the brand’s operating model and execution under the Jollibee Group’s stewardship, including the first THW location opened following the acquisition. In the US, early customer response to newly opened stores has been encouraging, supporting management’s conviction in the scalability and long-term growth potential of the THW brand across international markets,” it said.

-

Over the past four years, Jollibee Group achieved double-digit growth in system-wide sales, revenues, earnings before interest, taxes, depreciation, and amortization (EBITDA), operating profitability, and store network expansion, the company noted.

-

Its store network growth remained on track, supported by more franchises and its low-asset strategy, which aids scalability and efficiency across markets.

-

Jollibee recently inaugurated its fourth food commissary in Guinsay, Danao, Cebu, supporting regional expansion and job creation. The facility serves Jollibee and six of its 13 brands and aims to optimize logistics across the Visayas and Mindanao.

-

JFC plans to spin off its international business into a standalone company, which it will list on a US stock exchange by late 2027 to support its global expansion.

-

Jollibee Foods Corp. International (JFCI) would include all businesses outside the Philippines, while domestic operations will remain listed locally.

-

Shares of JFC jumped the most in over five years after the announcement.

-

In a media briefing, Mr. Shin said the proposed transaction seeks to unlock value by providing structural clarity, enabling investors to evaluate each business independently with greater transparency.

-

“Each entity will operate as a fully independent entity post-separation. They are independent companies now, they’re not subsidiaries anymore. Each entity will have its own board management team and operating model with clear accountability and decision-making authority,” he said.

-

Mr. Shin added that the setup would make capital allocation and strategy execution smoother, potentially driving sustainable returns and valuation re-rating over time. 

-

He noted that a US listing aligns JFCI with the largest capital market, provides liquidity access, and supports valuation discovery, making it preferable over other indices.

-

At the local bourse on Thursday, JFC shares rose 0.29% or 60 centavos, closing at P209 each. — Alexandria Grace C. Magno

+ + HOTEL101 GLOBAL HOLDINGS Corp., the Nasdaq-listed hospitality arm of DoubleDragon Corp., is expanding its overseas presence with a 766-room condotel project in Melbourne, Australia, which will be the largest hotel in the city by room count.

+

In a statement on Tuesday, the company said it signed definitive agreements to develop the condotel, which is slated for completion in 2029.

+

Hotel101-Melbourne, located in the city’s central business district (CBD), is projected to generate A$323.6 million (around P12.6 billion) in total sales revenue once fully sold.

+

The property is near landmarks such as Federation Square, Flinders Street Station, the Yarra River, and the Southbank entertainment precinct.

+

“This strategic site positions the property as an ideal hub for leisure and business travelers seeking seamless access to Melbourne’s cultural, commercial, and sporting hubs and will complement the existing premium hotel offerings in the CBD,” the company said.

+

The condotel will offer four-star amenities at affordable rates, including meeting spaces, a conference center, modern rooms, 24/7 reception, all-day dining, swimming pool, gym, business center, kids’ pool, rooftop bar, parking, and luggage storage, in line with Hotel101’s global offerings.

+

The development is subject to standard approvals from national, regional, and municipal regulators, the company noted.

+

Hotel101 currently operates nine properties in the Philippines and is developing projects in Hokkaido, Madrid, and Los Angeles.

+

In November, the company signed a joint venture to build a 429-room condotel on a 1.4-hectare site in San Donato Milanese, marking its second European project amid accelerated international expansion.

+

In May, Hotel101 also signed an agreement with Saudi Arabia’s Horizon Group to develop 10 hotels in the kingdom.

+

The Melbourne project is part of Hotel101’s plan to establish a presence in 25 countries over the next three years, with a long-term goal of operating one million rooms across 100 markets.

+

DoubleDragon remains the only Philippine company with a unit listed on Nasdaq. Hotel101 Global had a market capitalization of about $2.34 billion (P139 billion) as of Jan. 16.

+

At the local bourse on Tuesday, DoubleDragon shares rose 2.91% to P9.55 apiece. — Alexandria Grace C. Magno

]]> - https://www.bworldonline.com/wp-content/uploads/2022/12/Jollibee-300x200.jpg + https://www.bworldonline.com/wp-content/uploads/2026/01/Hotel101-Melbourne-Location-300x200.jpg - Floating above Cappadocia - https://www.bworldonline.com/arts-and-leisure/2026/01/16/724479/floating-above-cappadocia/ + Masters on display at Galleria Duemila + https://www.bworldonline.com/arts-and-leisure/2026/01/21/725338/masters-on-display-at-galleria-duemila/ - Thu, 15 Jan 2026 16:05:37 +0000 + Tue, 20 Jan 2026 16:06:30 +0000 - - https://www.bworldonline.com/?p=724479 + + https://www.bworldonline.com/?p=725338 - + - #tdi_1 .td-doubleSlider-2 .td-item1 { - background: url(https://www.bworldonline.com/wp-content/uploads/2026/01/Cappadocia-2-80x60.jpg) 0 0 no-repeat; - } - #tdi_1 .td-doubleSlider-2 .td-item2 { - background: url(https://www.bworldonline.com/wp-content/uploads/2026/01/Cappadocia-3-80x60.jpg) 0 0 no-repeat; + #tdi_2 .td-doubleSlider-2 .td-item1 { + background: url(https://www.bworldonline.com/wp-content/uploads/2026/01/Galleria-Duemila-20260110_125319-80x60.jpg) 0 0 no-repeat; } - #tdi_1 .td-doubleSlider-2 .td-item3 { - background: url(https://www.bworldonline.com/wp-content/uploads/2026/01/Cappadocia-1-80x60.jpg) 0 0 no-repeat; + #tdi_2 .td-doubleSlider-2 .td-item2 { + background: url(https://www.bworldonline.com/wp-content/uploads/2026/01/Galleria-Duemila-20260110_123018-80x60.jpg) 0 0 no-repeat; } -