By Katherine K. Chan, Reporter
\nTHE BANGKO SENTRAL ng Pilipinas (BSP) has opened its door to a more aggressive monetary policy path to curb inflation as persistent shocks stemming from the Middle East conflict continue to feed into consumer prices.
\nIn an exclusive interview on One News\u2019 Money Talks with Cathy Yang on Thursday, BSP Governor Eli M. Remolona, Jr. said the Monetary Board is considering a second straight rate hike before its June 18 meeting.
\nAsked about the likelihood of off-cycle tightening, Mr. Remolona said: \u201cI wouldn\u2019t say likely. We\u2019re considering it.\u201d
\nHowever, the central bank chief noted that they may also wait until the May inflation report comes out on June 5 before delivering the next monetary policy decision.
\n\u201cThat\u2019s very close to the next scheduled policy meeting. So, at this point, it\u2019s a toss-up whether we do an off-cycle or we just wait for the regular meeting, which is not that far away anyway,\u201d Mr. Remolona said.
\nMr. Remolona also acknowledged the emerging stagflation risks, with slowing economic growth and accelerating inflation, but said the BSP is banking on fiscal policy to help the economy recover as it seeks to maximize its monetary policy tools for inflation-targeting.
\nThe BSP reversed its policy path at its April 23 meeting, starting a new tightening cycle as it delivered its first 25-basis-point increase in over two years to bring the key policy rate to 4.5%.
\nCentral bank officials have said that their latest move was aimed at preventing broader second-round effects of inflation, keeping inflation expectations anchored and steering it back to their target as the prolonged Middle East war dimmed the growth outlook.\u00a0
\nHowever, despite the preemptive rate hike last month, inflation has accelerated faster than expected, raising the risk that the BSP could fall behind the curve, according to Mr. Remolona.
\n\u201cOrdinarily, a supply shock, you would look through it because it would go away and then you\u2019re back to where you are. But now this is a big supply shock and it\u2019s a persistent supply shock,\u201d he said. \u201cSo, we have to react and we have to react aggressively, I think, in this kind of situation. That\u2019s why we raised rates early.\u201d
\nInflation has breached the BSP\u2019s 2%-4% target and monthly forecasts since the war erupted in late February.
\nIn April, rising costs of food and utilities amid elevated oil prices drove the headline print to an over three-year high of 7.2% from 4.1% in March and 1.4% last year. This was past the BSP\u2019s 5.6%-6.4% estimate for the month.
\nAsked if they are now behind the curve, Mr. Remolona said: \u201cThere\u2019s a risk that we are. It depends on whether the supply shock persists.\u201d
\nHe noted that they fell short of anticipating the rapid impact of the oil supply shock on other items in the consumer basket such as fertilizer and rice, as the cost of those items typically takes time to rise.
\nMr. Remolona said the BSP is closely monitoring transport fares, which he said were \u201cadjusted very quickly,\u201d as well as faster inflation for the bottom 30% of households.
\nThe central bank governor also noted that the slowdown in consumer spending has helped ease inflation but added that they do not want to address increasing price pressures that way.
\n\u201cThe slowdown in consumer spending helps lower inflation. We don\u2019t want to lower inflation that way. We want consumer spending to resume and then it\u2019s our job to keep inflation low,\u201d Mr. Remolona said, adding that they expect consumer spending to recover.
\nThe central bank projects inflation to hover above 5% for most of the year to average 6.3%, faster than its 5.1% forecast before the war. By 2027, it expects inflation to cool down to 4.3%.
\nThe central bank, according to Mr. Remolona, also remains \u201cactive as usual\u201d in the foreign exchange market to smoothen out sharp swings amid recent episodes of the peso plunging to back-to-back historic lows.
\nThe local unit closed at its historic low level of P61.75 against the dollar for two straight trading days this week as lingering market uncertainty from the still-waging war in the Middle East prompted safe-haven demand for the greenback.
\nHowever, it gained 15.90 centavos on Thursday to close at P61.581 per dollar from its P61.74 finish on Wednesday.
\n", "content_text": "By Katherine K. Chan, Reporter\nTHE BANGKO SENTRAL ng Pilipinas (BSP) has opened its door to a more aggressive monetary policy path to curb inflation as persistent shocks stemming from the Middle East conflict continue to feed into consumer prices.\nIn an exclusive interview on One News\u2019 Money Talks with Cathy Yang on Thursday, BSP Governor Eli M. Remolona, Jr. said the Monetary Board is considering a second straight rate hike before its June 18 meeting. \nAsked about the likelihood of off-cycle tightening, Mr. Remolona said: \u201cI wouldn\u2019t say likely. We\u2019re considering it.\u201d\nHowever, the central bank chief noted that they may also wait until the May inflation report comes out on June 5 before delivering the next monetary policy decision.\n\u201cThat\u2019s very close to the next scheduled policy meeting. So, at this point, it\u2019s a toss-up whether we do an off-cycle or we just wait for the regular meeting, which is not that far away anyway,\u201d Mr. Remolona said.\nMr. Remolona also acknowledged the emerging stagflation risks, with slowing economic growth and accelerating inflation, but said the BSP is banking on fiscal policy to help the economy recover as it seeks to maximize its monetary policy tools for inflation-targeting.\nThe BSP reversed its policy path at its April 23 meeting, starting a new tightening cycle as it delivered its first 25-basis-point increase in over two years to bring the key policy rate to 4.5%.\nCentral bank officials have said that their latest move was aimed at preventing broader second-round effects of inflation, keeping inflation expectations anchored and steering it back to their target as the prolonged Middle East war dimmed the growth outlook.\u00a0\nHowever, despite the preemptive rate hike last month, inflation has accelerated faster than expected, raising the risk that the BSP could fall behind the curve, according to Mr. Remolona.\n\u201cOrdinarily, a supply shock, you would look through it because it would go away and then you\u2019re back to where you are. But now this is a big supply shock and it\u2019s a persistent supply shock,\u201d he said. \u201cSo, we have to react and we have to react aggressively, I think, in this kind of situation. That\u2019s why we raised rates early.\u201d\nInflation has breached the BSP\u2019s 2%-4% target and monthly forecasts since the war erupted in late February.\nIn April, rising costs of food and utilities amid elevated oil prices drove the headline print to an over three-year high of 7.2% from 4.1% in March and 1.4% last year. This was past the BSP\u2019s 5.6%-6.4% estimate for the month. \nAsked if they are now behind the curve, Mr. Remolona said: \u201cThere\u2019s a risk that we are. It depends on whether the supply shock persists.\u201d\nHe noted that they fell short of anticipating the rapid impact of the oil supply shock on other items in the consumer basket such as fertilizer and rice, as the cost of those items typically takes time to rise. \nMr. Remolona said the BSP is closely monitoring transport fares, which he said were \u201cadjusted very quickly,\u201d as well as faster inflation for the bottom 30% of households.\nThe central bank governor also noted that the slowdown in consumer spending has helped ease inflation but added that they do not want to address increasing price pressures that way.\n\u201cThe slowdown in consumer spending helps lower inflation. We don\u2019t want to lower inflation that way. We want consumer spending to resume and then it\u2019s our job to keep inflation low,\u201d Mr. Remolona said, adding that they expect consumer spending to recover.\nThe central bank projects inflation to hover above 5% for most of the year to average 6.3%, faster than its 5.1% forecast before the war. By 2027, it expects inflation to cool down to 4.3%.\nThe central bank, according to Mr. Remolona, also remains \u201cactive as usual\u201d in the foreign exchange market to smoothen out sharp swings amid recent episodes of the peso plunging to back-to-back historic lows.\nThe local unit closed at its historic low level of P61.75 against the dollar for two straight trading days this week as lingering market uncertainty from the still-waging war in the Middle East prompted safe-haven demand for the greenback.\nHowever, it gained 15.90 centavos on Thursday to close at P61.581 per dollar from its P61.74 finish on Wednesday.", "date_published": "2026-05-22T00:35:53+08:00", "date_modified": "2026-05-22T08:40:04+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2025/07/Eli-M.-Remolona.jpg", "tags": [ "Katherine K. Chan", "Editors' Picks", "One News", "大象传媒" ] }, { "id": "/?p=751348", "url": "/top-stories/2026/05/22/751348/adb-likely-to-cut-phl-growth-outlook-anew/", "title": "ADB likely to cut PHL growth outlook anew", "content_html": "By Justine Irish D. Tabile, Senior Reporter
\nGROWTH PROJECTIONS for the Philippines are likely to be revised downward again as the prolonged conflict in the Middle East continues to weigh on economic activity, according to Asian Development Bank (ADB) Country Director for the Philippines Andrew Jeffries.
\n\u201cWhen we did the Asian Development Outlook in very early April, it had several scenarios including more downside scenarios, but the main scenario was based on what I would call an early stabilization scenario,\u201d he told 大象传媒 in an interview.
\n\u201cSo that was envisioning if this crisis got resolved and things went back to normal within a few months. That obviously has not happened,\u201d he added.
\nIn April, the Philippine-based multilateral lender cut its Philippine gross domestic product (GDP) growth forecast to 4.4% from 5.3% previously projected in December.
\nThe revised forecast falls below the government\u2019s 5-6% GDP growth target for 2026 and matches the country\u2019s growth pace last year.
\nFor 2027, the ADB expects the Philippine economy to expand by 5.5%, at the low end of the government\u2019s 5.5-6.5% target range.
\nOn April 29, the ADB downgraded its growth outlook and raised inflation forecasts for developing Asia and the Pacific, reflecting the impact of the conflict. The lender now expects the region to grow by 4.7% in 2026 and 4.8% in 2027, lower than its earlier 5.1% forecast for both years.
\nMeanwhile, regional inflation is projected to accelerate to 5.2% this year and 4.1% next year from the earlier forecasts of 3.6% and 3.4%, respectively.
\nMr. Jeffries said inflation in the region could rise as high as 7.4% this year under a severe downside scenario.
\n\u201cNow, the Philippines is being disproportionately negatively affected compared to other countries. In the Philippines we just saw 7.2% (inflation) recently, so the Philippines is unfortunately experiencing that kind of much more downside quicker because of the vulnerability,\u201d he said.
\n\u201cJust given the new numbers that have come out for the quarter that showed lower figure GDP, I guess we will be anticipating lower projections in July, given current trends,\u201d he added.
\nThe Philippine economy expanded by 2.8% in the first quarter, slower than the previous quarter\u2019s 3% growth, reflecting the lingering effects of last year\u2019s corruption scandal and soaring oil prices triggered by the Middle East conflict.
\nMeanwhile, headline inflation accelerated to 7.2% in April, exceeding the Bangko Sentral ng Pilipinas\u2019 (BSP) 5.6%-6.4% forecast and 2%-4% target range.
\nWEAKER PESO
\nJesus Felipe, a professor at Carlos L. Tiu School of Economics at the De La Salle University (DLSU), said the continued depreciation of the peso will further strain the economy.
\u201cThe problem is the type of economy that we have is a very weak economy\u2026 It is an economy that has problems really sustaining production capacity,\u201d he told Money Talks with Cathy Yang on One News on Thursday.
\n\u201cIn the end, what is going to happen is that in the short run, at the very least, the current account deficit is going to deteriorate,\u201d he added.
\nMr. Felipe said he expects the peso to weaken to P63.5 against the dollar by August.
\nThe peso closed at a record low of P61.75 per dollar on Tuesday, unchanged from Monday\u2019s finish.
\nWhile a weaker peso may benefit exporters, Mr. Felipe said this, coupled with soaring fuel prices, would mean more expensive imports which immediately feeds into inflation and lower real incomes.
\nHe said the Philippines should use the crisis as an opportunity to diversify the economy and increase the value-added component of local manufacturing.
\nThe DLSU May economic report projected Philippine GDP growth at 3.11% in 2026, well below the government\u2019s 5-6% target.
\nIt also projected growth at 3.93% in 2027 and 5.71% in 2028, both below the government\u2019s targets of 5.5-6.5% and 6-7%, respectively.
\n\u201cFor the time being, it\u2019s a question of uncertainty. This is not really a deep crisis. We\u2019re not into that. It\u2019s not that growth is negative,\u201d he said.
\nMr. Felipe said the uncertainty stems from a combination of peso depreciation and last year\u2019s corruption scandal.
\n\u201cEverybody\u2019s simply waiting to see what happens. So, consumption is really subdued and investment is really subdued… The recovery will start happening in 2028. It\u2019s very, very important to notice that even with the recovery, we will not reach the targets that the government has been, during this administration, announcing, which is to grow 6.5% to 8%,\u201d he added.
\nMr. Felipe said the government should implement reforms aimed at strengthening local firms and improving export competitiveness. He also cited the need for stronger fiscal policy support to improve productivity.
\nWithout structural reforms, the Philippine economy will remain vulnerable to future crises, he added.
\n\u201cIf the government doesn\u2019t do anything toward the long term, a couple of decades, even up to 2050, what we will see is what we call\u2026 a weak economy that will be shaken by the next crisis, be it domestic or international,\u201d he added.
\nSeparately, Bank of America Global Research said higher oil prices could significantly widen the country\u2019s current account deficit.
\n\u201cOil prices around $90-$100 range would translate into roughly 1-1.3% widening of the current account deficit to 4%,\u201d it said.
\n\u201cWe have previously argued that a sustainable current account deficit for the Philippines is 2-2.5% of GDP which can be financed via foreign direct investment in government funding flows,\u201d it added.
\nBank of America (BofA) said a current account deficit nearing 4% would increase reliance on the BSP\u2019s intervention to limit depreciation pressures on the peso.
\nIt also warned that persistently high oil prices could worsen the country\u2019s fiscal position as the government rolls out measures to cushion the impact of inflation.
\nHowever, BofA said stronger intervention in the foreign exchange market would be difficult to sustain and could raise concerns over the adequacy of foreign exchange reserves.
\nThe bank expects the peso to weaken to P63 per dollar in the second quarter and to P64 per dollar by yearend amid elevated oil prices.
\n\u201cAn oil price spike remains the key external risk for the Philippines. Domestically, political uncertainty may weigh on public spending, sentiment and growth,\u201d it added.
\n", "content_text": "By Justine Irish D. Tabile, Senior Reporter\nGROWTH PROJECTIONS for the Philippines are likely to be revised downward again as the prolonged conflict in the Middle East continues to weigh on economic activity, according to Asian Development Bank (ADB) Country Director for the Philippines Andrew Jeffries.\n\u201cWhen we did the Asian Development Outlook in very early April, it had several scenarios including more downside scenarios, but the main scenario was based on what I would call an early stabilization scenario,\u201d he told 大象传媒 in an interview.\n\u201cSo that was envisioning if this crisis got resolved and things went back to normal within a few months. That obviously has not happened,\u201d he added.\nIn April, the Philippine-based multilateral lender cut its Philippine gross domestic product (GDP) growth forecast to 4.4% from 5.3% previously projected in December.\nThe revised forecast falls below the government\u2019s 5-6% GDP growth target for 2026 and matches the country\u2019s growth pace last year.\nFor 2027, the ADB expects the Philippine economy to expand by 5.5%, at the low end of the government\u2019s 5.5-6.5% target range.\nOn April 29, the ADB downgraded its growth outlook and raised inflation forecasts for developing Asia and the Pacific, reflecting the impact of the conflict. The lender now expects the region to grow by 4.7% in 2026 and 4.8% in 2027, lower than its earlier 5.1% forecast for both years.\nMeanwhile, regional inflation is projected to accelerate to 5.2% this year and 4.1% next year from the earlier forecasts of 3.6% and 3.4%, respectively.\nMr. Jeffries said inflation in the region could rise as high as 7.4% this year under a severe downside scenario.\n\u201cNow, the Philippines is being disproportionately negatively affected compared to other countries. In the Philippines we just saw 7.2% (inflation) recently, so the Philippines is unfortunately experiencing that kind of much more downside quicker because of the vulnerability,\u201d he said.\n\u201cJust given the new numbers that have come out for the quarter that showed lower figure GDP, I guess we will be anticipating lower projections in July, given current trends,\u201d he added.\nThe Philippine economy expanded by 2.8% in the first quarter, slower than the previous quarter\u2019s 3% growth, reflecting the lingering effects of last year\u2019s corruption scandal and soaring oil prices triggered by the Middle East conflict.\nMeanwhile, headline inflation accelerated to 7.2% in April, exceeding the Bangko Sentral ng Pilipinas\u2019 (BSP) 5.6%-6.4% forecast and 2%-4% target range.\nWEAKER PESO\nJesus Felipe, a professor at Carlos L. Tiu School of Economics at the De La Salle University (DLSU), said the continued depreciation of the peso will further strain the economy.\n\u201cThe problem is the type of economy that we have is a very weak economy\u2026 It is an economy that has problems really sustaining production capacity,\u201d he told Money Talks with Cathy Yang on One News on Thursday.\n\u201cIn the end, what is going to happen is that in the short run, at the very least, the current account deficit is going to deteriorate,\u201d he added.\nMr. Felipe said he expects the peso to weaken to P63.5 against the dollar by August.\nThe peso closed at a record low of P61.75 per dollar on Tuesday, unchanged from Monday\u2019s finish.\nWhile a weaker peso may benefit exporters, Mr. Felipe said this, coupled with soaring fuel prices, would mean more expensive imports which immediately feeds into inflation and lower real incomes.\nHe said the Philippines should use the crisis as an opportunity to diversify the economy and increase the value-added component of local manufacturing.\nThe DLSU May economic report projected Philippine GDP growth at 3.11% in 2026, well below the government\u2019s 5-6% target.\nIt also projected growth at 3.93% in 2027 and 5.71% in 2028, both below the government\u2019s targets of 5.5-6.5% and 6-7%, respectively.\n\u201cFor the time being, it\u2019s a question of uncertainty. This is not really a deep crisis. We\u2019re not into that. It\u2019s not that growth is negative,\u201d he said.\nMr. Felipe said the uncertainty stems from a combination of peso depreciation and last year\u2019s corruption scandal.\n\u201cEverybody\u2019s simply waiting to see what happens. So, consumption is really subdued and investment is really subdued… The recovery will start happening in 2028. It\u2019s very, very important to notice that even with the recovery, we will not reach the targets that the government has been, during this administration, announcing, which is to grow 6.5% to 8%,\u201d he added.\nMr. Felipe said the government should implement reforms aimed at strengthening local firms and improving export competitiveness. He also cited the need for stronger fiscal policy support to improve productivity.\nWithout structural reforms, the Philippine economy will remain vulnerable to future crises, he added.\n\u201cIf the government doesn\u2019t do anything toward the long term, a couple of decades, even up to 2050, what we will see is what we call\u2026 a weak economy that will be shaken by the next crisis, be it domestic or international,\u201d he added.\nSeparately, Bank of America Global Research said higher oil prices could significantly widen the country\u2019s current account deficit.\n\u201cOil prices around $90-$100 range would translate into roughly 1-1.3% widening of the current account deficit to 4%,\u201d it said.\n\u201cWe have previously argued that a sustainable current account deficit for the Philippines is 2-2.5% of GDP which can be financed via foreign direct investment in government funding flows,\u201d it added.\nBank of America (BofA) said a current account deficit nearing 4% would increase reliance on the BSP\u2019s intervention to limit depreciation pressures on the peso.\nIt also warned that persistently high oil prices could worsen the country\u2019s fiscal position as the government rolls out measures to cushion the impact of inflation.\nHowever, BofA said stronger intervention in the foreign exchange market would be difficult to sustain and could raise concerns over the adequacy of foreign exchange reserves.\nThe bank expects the peso to weaken to P63 per dollar in the second quarter and to P64 per dollar by yearend amid elevated oil prices.\n\u201cAn oil price spike remains the key external risk for the Philippines. Domestically, political uncertainty may weigh on public spending, sentiment and growth,\u201d it added.", "date_published": "2026-05-22T00:34:52+08:00", "date_modified": "2026-05-21T20:44:21+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/vegetable-market-wc.jpg", "tags": [ "Justine Irish D. Tabile", "Editors' Picks", "One News", "大象传媒" ], "summary": "GROWTH PROJECTIONS for the Philippines are likely to be revised downward again as the prolonged conflict in the Middle East continues to weigh on economic activity, according to Asian Development Bank (ADB) Country Director for the Philippines Andrew Jeffries." }, { "id": "/?p=751347", "url": "/top-stories/2026/05/22/751347/sec-imposes-10-year-term-limit-for-broker-directors-serving-on-exchange-boards/", "title": "SEC imposes 10-year term limit for broker directors serving on exchange boards", "content_html": "THE SECURITIES and Exchange Commission (SEC) is imposing a cumulative 10-year term limit on broker directors serving on exchange boards, a rule that is being opposed by some market participants.
\nUnder SEC Memorandum Circular No. 17, a broker director may serve a maximum cumulative period of 10 years in the same exchange, whether cumulative or intermittent.
\nThe circular was signed by SEC Chairperson Francisco Ed. Lim on May 21.
\n\u201cStrong institutions require regular renewal, independent oversight, and broader representation,\u201d Mr. Lim said in a statement on Thursday.
\n\u201cBy setting reasonable term limits for broker directors, the SEC seeks to strengthen market governance, mitigate potential conflicts of interest, level the playing field among the different categories of directors in exchanges, and align our regulatory framework with internationally recognized standards, while ensuring a fair and orderly transition,\u201d he added.
\nThe SEC said the measure is aligned with principles of the International Organization of Securities Commissions, which promote fair representation in the governance of self-regulatory organizations such as exchanges.
\nUnder the circular, a broker director that has served for five cumulative years will be required to undergo a one-year cooling-off period before becoming eligible for re-election.
\nThe five-year term and 10-year term maximum period is reckoned up to the date of the next annual stockholders\u2019 meeting, following the fifth or 10th cumulative annual election.
\nA broker director\u2019s service of more than six months in a year will be counted as one full year for purposes of computing the five-year term and 10-year maximum cumulative service under the circular.
\nFollowing the cooling-off period, the re-elected broker director can serve a fresh term of up to five cumulative years.
\nThe SEC circular also provides for a two-year transition period for incumbent broker directors, allowing them to complete their current terms and remain eligible for the next two annual elections.
\nCovered exchanges that exceed the maximum cumulative term limit for broker directors will be subject to penalties, including a P1-million fine per broker director per year and a P30,000 monthly penalty for each month that the violation continues.
\nThird or succeeding offense for the same violation will be subject to suspension or revocation of the exchange\u2019s secondary or primary license.
\nThe new directive would affect several long-serving broker directors at the Philippine Stock Exchange, including Ma. Vivian Yuchengco (28 years), Eddie T. Gobing (25 years), and Wilson L. Sy (12 years).
\nThe SEC\u2019s term limit proposal had previously drawn opposition from individuals, including Ms. Yuchengco, who argued that it would be \u201cwrong,\u201d noting that brokers are also shareholders of the PSE.
\nCertain business groups expressed support for the changes, saying these would promote board renewal and investor confidence, and committed to working with regulators and stakeholders to help develop a fair capital market.
\nThe SEC circular will take effect 15 days after its full publication in the Official Gazette or in at least two newspapers of general circulation. \u2014 Alexandria Grace C. Magno
\n", "content_text": "THE SECURITIES and Exchange Commission (SEC) is imposing a cumulative 10-year term limit on broker directors serving on exchange boards, a rule that is being opposed by some market participants.\nUnder SEC Memorandum Circular No. 17, a broker director may serve a maximum cumulative period of 10 years in the same exchange, whether cumulative or intermittent.\nThe circular was signed by SEC Chairperson Francisco Ed. Lim on May 21.\n\u201cStrong institutions require regular renewal, independent oversight, and broader representation,\u201d Mr. Lim said in a statement on Thursday.\n\u201cBy setting reasonable term limits for broker directors, the SEC seeks to strengthen market governance, mitigate potential conflicts of interest, level the playing field among the different categories of directors in exchanges, and align our regulatory framework with internationally recognized standards, while ensuring a fair and orderly transition,\u201d he added.\nThe SEC said the measure is aligned with principles of the International Organization of Securities Commissions, which promote fair representation in the governance of self-regulatory organizations such as exchanges.\nUnder the circular, a broker director that has served for five cumulative years will be required to undergo a one-year cooling-off period before becoming eligible for re-election. \nThe five-year term and 10-year term maximum period is reckoned up to the date of the next annual stockholders\u2019 meeting, following the fifth or 10th cumulative annual election.\nA broker director\u2019s service of more than six months in a year will be counted as one full year for purposes of computing the five-year term and 10-year maximum cumulative service under the circular.\nFollowing the cooling-off period, the re-elected broker director can serve a fresh term of up to five cumulative years.\nThe SEC circular also provides for a two-year transition period for incumbent broker directors, allowing them to complete their current terms and remain eligible for the next two annual elections.\nCovered exchanges that exceed the maximum cumulative term limit for broker directors will be subject to penalties, including a P1-million fine per broker director per year and a P30,000 monthly penalty for each month that the violation continues.\nThird or succeeding offense for the same violation will be subject to suspension or revocation of the exchange\u2019s secondary or primary license.\nThe new directive would affect several long-serving broker directors at the Philippine Stock Exchange, including Ma. Vivian Yuchengco (28 years), Eddie T. Gobing (25 years), and Wilson L. Sy (12 years).\nThe SEC\u2019s term limit proposal had previously drawn opposition from individuals, including Ms. Yuchengco, who argued that it would be \u201cwrong,\u201d noting that brokers are also shareholders of the PSE.\nCertain business groups expressed support for the changes, saying these would promote board renewal and investor confidence, and committed to working with regulators and stakeholders to help develop a fair capital market.\nThe SEC circular will take effect 15 days after its full publication in the Official Gazette or in at least two newspapers of general circulation. \u2014 Alexandria Grace C. Magno", "date_published": "2026-05-22T00:33:51+08:00", "date_modified": "2026-05-21T20:43:14+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2024/06/SEC-buillding-3.jpg", "tags": [ "Alexandria Grace C. Magno", "Editors' Picks", "One News", "大象传媒" ] }, { "id": "/?p=751346", "url": "/top-stories/2026/05/22/751346/philippine-financial-system-resources-climb-in-q1/", "title": "Philippine financial system resources climb in Q1", "content_html": "By Katherine K. Chan, Reporter
\nTHE PHILIPPINE financial system\u2019s total resources rose to P37.45 trillion in the first quarter of 2026 as the sector\u2019s assets ballooned despite headwinds stemming from the Middle East war, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed.
\nAs of March, banks and nonbank financial institutions\u2019 combined resources grew by 8.61% to P37.45 trillion from P34.481 trillion in the same period last year.
\nMonth on month, it edged up by 1.38% from P36.941 trillion previously.
\nThese include funds and assets such as deposits, capital, and bonds or debt securities, but exclude resources from the central bank.\u00a0 \u00a0
\nBanks alone held P31.103 trillion worth of resources during the period, climbing by 9.19% from the P28.485 trillion seen a year earlier.
\nBroken down, universal and commercial banks\u2019 resources rose by 8.41% year on year to P28.871 trillion at end-March from P26.631 trillion previously. This was the bulk of the sector\u2019s resources in the first quarter.\u00a0
\nResources of thrift banks also jumped by 25.17% to P1.478 trillion at end-March from P1.181 trillion in the comparable year-ago period, while digital banks had 44.82% more resources at end-March with P188.7 billion from P130.3 billion in the prior year.
\nMeanwhile, resources held by rural and cooperative banks stood at P565 billion as of end-December last year, 4.01% higher than the P543.2 billion seen in the first quarter of 2025. There were no data for rural and cooperative banks as of end-March this year.
\nUnion Bank of the Philippines Chief Economist Ruben Carlo O. Asuncion said the higher resources as of end-March came as banks and nonbank financial institutions\u2019 balance sheets remained sound amid the Middle East conflict, with lending activity and deposit inflows likewise boosting their holdings.\u00a0 \u00a0
\n\u201cThe increase underscores the resilience of the domestic financial system, which remains well-positioned to intermediate funds despite external headwinds such as the ongoing Middle East conflict,\u201d he said in a Viber message.\u00a0
\nSeparate central bank data showed that lenders\u2019 assets hit an all-time high of P30.336 trillion as of end-March, the first full month of the Middle East war. This was up by 9.77% year on year from P27.644 trillion.
\nBanks\u2019 loan growth likewise hit its fastest pace in seven months in March, as lending to businesses and consumers climbed 10.7% to P14.603 trillion from P13.192 trillion a year ago.
\nHigher investment holdings and continued savings may have helped sustain the sector\u2019s resource growth despite economic woes during the period, said John Paolo R. Rivera, a senior research fellow at the Philippine Institute for Development Studies.
\n\u201c(This) reflects continued expansion in bank lending, deposit growth, and investment holdings, indicating that the financial system remains liquid and broadly resilient despite a more challenging macroeconomic environment,\u201d he noted.
\nThe latest available BSP data also showed nonbanks held P6.347 trillion in resources as of end-2025. This reflects a 7.26% climb from the P5.917-trillion resources logged at end-2024.
\nNonbanks include investment houses, finance companies, security dealers, pawnshops, and lending companies.
\nInstitutions such as nonstock savings and loan associations, credit card companies, private insurance firms, the Social Security System, and the Government Service Insurance System are also considered nonbank financial firms.
\nIn the coming months, analysts noted that tighter financial conditions amid lingering economic uncertainties could dampen the growth of the financial sector\u2019s resources.
\n\u201cLooking ahead, while resources are expected to continue expanding, the pace of growth may moderate amid tighter financial conditions, elevated inflation, and softer economic momentum,\u201d Mr. Asuncion said.
\n\u201cKey factors to watch include BSP policy direction, liquidity conditions, risk sentiment, and the strength of domestic demand, which will collectively shape the trajectory of financial system resources in the coming months,\u201d he added.
\nThe industry should also strive to maintain healthy asset quality and credit conditions, especially as economic risks continue to weigh on them, according to Mr. Rivera.
\n", "content_text": "By Katherine K. Chan, Reporter\nTHE PHILIPPINE financial system\u2019s total resources rose to P37.45 trillion in the first quarter of 2026 as the sector\u2019s assets ballooned despite headwinds stemming from the Middle East war, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed.\nAs of March, banks and nonbank financial institutions\u2019 combined resources grew by 8.61% to P37.45 trillion from P34.481 trillion in the same period last year. \nMonth on month, it edged up by 1.38% from P36.941 trillion previously.\nThese include funds and assets such as deposits, capital, and bonds or debt securities, but exclude resources from the central bank.\u00a0 \u00a0\nBanks alone held P31.103 trillion worth of resources during the period, climbing by 9.19% from the P28.485 trillion seen a year earlier.\nBroken down, universal and commercial banks\u2019 resources rose by 8.41% year on year to P28.871 trillion at end-March from P26.631 trillion previously. This was the bulk of the sector\u2019s resources in the first quarter.\u00a0\nResources of thrift banks also jumped by 25.17% to P1.478 trillion at end-March from P1.181 trillion in the comparable year-ago period, while digital banks had 44.82% more resources at end-March with P188.7 billion from P130.3 billion in the prior year. \nMeanwhile, resources held by rural and cooperative banks stood at P565 billion as of end-December last year, 4.01% higher than the P543.2 billion seen in the first quarter of 2025. There were no data for rural and cooperative banks as of end-March this year. \nUnion Bank of the Philippines Chief Economist Ruben Carlo O. Asuncion said the higher resources as of end-March came as banks and nonbank financial institutions\u2019 balance sheets remained sound amid the Middle East conflict, with lending activity and deposit inflows likewise boosting their holdings.\u00a0 \u00a0\n\u201cThe increase underscores the resilience of the domestic financial system, which remains well-positioned to intermediate funds despite external headwinds such as the ongoing Middle East conflict,\u201d he said in a Viber message.\u00a0\nSeparate central bank data showed that lenders\u2019 assets hit an all-time high of P30.336 trillion as of end-March, the first full month of the Middle East war. This was up by 9.77% year on year from P27.644 trillion.\nBanks\u2019 loan growth likewise hit its fastest pace in seven months in March, as lending to businesses and consumers climbed 10.7% to P14.603 trillion from P13.192 trillion a year ago.\nHigher investment holdings and continued savings may have helped sustain the sector\u2019s resource growth despite economic woes during the period, said John Paolo R. Rivera, a senior research fellow at the Philippine Institute for Development Studies.\n\u201c(This) reflects continued expansion in bank lending, deposit growth, and investment holdings, indicating that the financial system remains liquid and broadly resilient despite a more challenging macroeconomic environment,\u201d he noted.\nThe latest available BSP data also showed nonbanks held P6.347 trillion in resources as of end-2025. This reflects a 7.26% climb from the P5.917-trillion resources logged at end-2024.\nNonbanks include investment houses, finance companies, security dealers, pawnshops, and lending companies.\nInstitutions such as nonstock savings and loan associations, credit card companies, private insurance firms, the Social Security System, and the Government Service Insurance System are also considered nonbank financial firms. \nIn the coming months, analysts noted that tighter financial conditions amid lingering economic uncertainties could dampen the growth of the financial sector\u2019s resources.\n\u201cLooking ahead, while resources are expected to continue expanding, the pace of growth may moderate amid tighter financial conditions, elevated inflation, and softer economic momentum,\u201d Mr. Asuncion said.\n\u201cKey factors to watch include BSP policy direction, liquidity conditions, risk sentiment, and the strength of domestic demand, which will collectively shape the trajectory of financial system resources in the coming months,\u201d he added.\nThe industry should also strive to maintain healthy asset quality and credit conditions, especially as economic risks continue to weigh on them, according to Mr. Rivera.", "date_published": "2026-05-22T00:32:50+08:00", "date_modified": "2026-05-21T20:42:49+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2023/08/Peso-currency-1.jpg", "tags": [ "Katherine K. Chan", "Editors' Picks", "One News", "大象传媒" ], "summary": "THE PHILIPPINE financial system\u2019s total resources rose to P37.45 trillion in the first quarter of 2026 as the sector\u2019s assets ballooned despite headwinds stemming from the Middle East war, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed." }, { "id": "/?p=751361", "url": "/corporate/2026/05/22/751361/agi-income-rises-to-p5-2-billion-as-property-hospitality-drive-growth/", "title": "AGI income rises to P5.2 billion as property, hospitality drive growth", "content_html": "ANDREW L. TAN-LED conglomerate Alliance Global Group, Inc. (AGI) posted a 5% rise in first-quarter (Q1) attributable net income to P5.2 billion, driven by growth in its property, hospitality, leasing, and spirits businesses.
\nIn a statement on Thursday, the company said January-to-March net income stood at P7.8 billion, up 6% from the normalized P7.4 billion recorded a year earlier, excluding one-time gains and the impact of Golden Arches Development Corp.\u2019s (GADC) deconsolidation in March 2025.
\nConsolidated revenues rose 1% to P42.2 billion from the normalized P42 billion recorded in the same period last year.
\n\u201cAGI had an optimistic start; first-quarter results reflected healthy residential sales, strong leasing revenues, sustained improvement in the hospitality business, and the nascent recovery in spirits sales. These businesses continued to perform well even against a demanding macroeconomic and geopolitical backdrop,\u201d AGI President and Chief Executive Officer Kevin L. Tan said.
\n\u201cOur first quarter performance is supported by ongoing cost discipline, embedded in our operations. This allowed our Group to gain operating leverage, while we continue to implement our aggressive business strategies. Overall, we have maintained our financial prudence, which helps us stay on course even in this challenging environment,\u201d he added.
\nOn the property business, Megaworld Corp. saw a 4% increase in attributable net income to P5.3 billion as revenue climbed by 3% to P21.6 billion.
\nReal estate sales reached P13.3 billion, up 15%, driven mainly by construction progress in Metro Manila projects.
\nThe office segment through Megaworld Premier Offices saw a 4% increase in office rental income supported by new leases and contract renewals.
\nThe malls business led by Megaworld Lifestyle Malls saw revenues climb 9% to P1.8 billion, supported by higher tenant sales, improved occupancy, and stronger foot traffic.
\nRevenues from Megaworld Hotels & Resorts also increased 8% to P1.5 billion on the back of expanding operations and growing meetings, incentives, conferences, and exhibitions (MICE) activity.
\nThe liquor manufacturing segment led by Emperador, Inc. posted attributable net income of P1.9 billion and consolidated revenues of P13.4 billion, driven by a favorable product mix and ongoing cost management, with brandy and whisky sales growing 6% year on year.
\n\u201cThe brandy segment continued to gain momentum, enjoying higher sales due to encouraging consumer shifts despite the soft domestic liquor market. Whisky sales have shown gradual, steady improvement as the Group continues to navigate ongoing challenges in the international spirits market,\u201d AGI said.
\nOn the leisure and tourism segment, Travellers International, operator of Newport World Resorts, posted net revenues of P7 billion and gross revenues of P8.6 billion during the quarter.
\nGross gaming revenue reached P6.6 billion, with gains in the mass segment offsetting weakness in VIP gaming. Non-gaming revenues rose 10% year on year to P2 billion, supported by higher hotel rates and increased retail spending within the resort complex.
\nEarnings before interest, taxes, depreciation, and amortization (EBITDA) reached P1.7 billion, aided by cost management efforts.
\nAGI has interests in real estate through Megaworld, spirits through Emperador, leisure and hospitality through Travellers International, and quick-service restaurants through its stake in GADC, the operator of McDonald\u2019s Philippines.
\nOn Thursday, AGI shares rose by five centavos or 0.58% to close at P8.70 apiece. \u2014 Alexandria Grace C. Magno
\n", "content_text": "ANDREW L. TAN-LED conglomerate Alliance Global Group, Inc. (AGI) posted a 5% rise in first-quarter (Q1) attributable net income to P5.2 billion, driven by growth in its property, hospitality, leasing, and spirits businesses.\nIn a statement on Thursday, the company said January-to-March net income stood at P7.8 billion, up 6% from the normalized P7.4 billion recorded a year earlier, excluding one-time gains and the impact of Golden Arches Development Corp.\u2019s (GADC) deconsolidation in March 2025.\nConsolidated revenues rose 1% to P42.2 billion from the normalized P42 billion recorded in the same period last year.\n\u201cAGI had an optimistic start; first-quarter results reflected healthy residential sales, strong leasing revenues, sustained improvement in the hospitality business, and the nascent recovery in spirits sales. These businesses continued to perform well even against a demanding macroeconomic and geopolitical backdrop,\u201d AGI President and Chief Executive Officer Kevin L. Tan said.\n\u201cOur first quarter performance is supported by ongoing cost discipline, embedded in our operations. This allowed our Group to gain operating leverage, while we continue to implement our aggressive business strategies. Overall, we have maintained our financial prudence, which helps us stay on course even in this challenging environment,\u201d he added.\nOn the property business, Megaworld Corp. saw a 4% increase in attributable net income to P5.3 billion as revenue climbed by 3% to P21.6 billion.\nReal estate sales reached P13.3 billion, up 15%, driven mainly by construction progress in Metro Manila projects.\nThe office segment through Megaworld Premier Offices saw a 4% increase in office rental income supported by new leases and contract renewals.\nThe malls business led by Megaworld Lifestyle Malls saw revenues climb 9% to P1.8 billion, supported by higher tenant sales, improved occupancy, and stronger foot traffic.\nRevenues from Megaworld Hotels & Resorts also increased 8% to P1.5 billion on the back of expanding operations and growing meetings, incentives, conferences, and exhibitions (MICE) activity.\nThe liquor manufacturing segment led by Emperador, Inc. posted attributable net income of P1.9 billion and consolidated revenues of P13.4 billion, driven by a favorable product mix and ongoing cost management, with brandy and whisky sales growing 6% year on year.\n\u201cThe brandy segment continued to gain momentum, enjoying higher sales due to encouraging consumer shifts despite the soft domestic liquor market. Whisky sales have shown gradual, steady improvement as the Group continues to navigate ongoing challenges in the international spirits market,\u201d AGI said.\nOn the leisure and tourism segment, Travellers International, operator of Newport World Resorts, posted net revenues of P7 billion and gross revenues of P8.6 billion during the quarter.\nGross gaming revenue reached P6.6 billion, with gains in the mass segment offsetting weakness in VIP gaming. Non-gaming revenues rose 10% year on year to P2 billion, supported by higher hotel rates and increased retail spending within the resort complex.\nEarnings before interest, taxes, depreciation, and amortization (EBITDA) reached P1.7 billion, aided by cost management efforts.\nAGI has interests in real estate through Megaworld, spirits through Emperador, leisure and hospitality through Travellers International, and quick-service restaurants through its stake in GADC, the operator of McDonald\u2019s Philippines.\nOn Thursday, AGI shares rose by five centavos or 0.58% to close at P8.70 apiece. \u2014 Alexandria Grace C. Magno", "date_published": "2026-05-22T00:11:06+08:00", "date_modified": "2026-05-21T19:55:12+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2024/04/Marriot.jpg", "tags": [ "Alexandria Grace C. Magno", "Corporate", "Editors' Picks" ] }, { "id": "/?p=751360", "url": "/corporate/2026/05/22/751360/vivant-studying-follow-on-offer-for-p67-b-pipeline/", "title": "Vivant studying follow-on offer for P67-B pipeline", "content_html": "CEBU-BASED conglomerate Vivant Corp. is studying the possibility of conducting a follow-on offering to help finance its planned P67-billion investment pipeline through 2030.
\n\u201cWe\u2019re studying the possibility of doing a follow-on offering also. But of course, we have to consider the market conditions when we do the follow-on offering,\u201d Vivant Chief Finance Officer and Risk Officer Minuel Carmela N. Franco said during the company\u2019s annual stockholders\u2019 meeting on Thursday.
\nShe said the company plans to fund its pipeline of projects through a combination of debt and internal equity.
\nVivant is planning around P60 billion in investments for its energy business from 2026 to 2030, particularly for renewable energy (RE) projects and related infrastructure.
\n\u201cWe have laid out an ambitious roadmap with total projected investments amounting to P60 billion from 2026 to 2030,\u201d Vivant Chief Executive Officer Arlo G. Sarmiento said.
\nAbout 78% of the planned investments will go toward renewable energy projects.
\n\u201cStabilized by our strong foundation of existing investments in power and water, I am confident that our projected P60-billion to P70-billion pipeline investments over the next five years will allow us to continue to deliver on our mission to bring excellence to industries that improve everyday living,\u201d he said.
\nAmid ongoing geopolitical tensions in the Middle East, company officials said renewable energy development could help reduce the country\u2019s dependence on imported conventional fuel sources.
\n\u201cWe could use more RE. Our dependence on conventional energy sources has made us the most expensive, maybe next to Singapore, country in terms of power costs. And that\u2019s largely because of our dependence on oil, gas, and even coal,\u201d Mr. Sarmiento said.
\nEmil Andre Garcia, president and chief executive officer of Vivant Energy Corp., the company\u2019s wholly owned energy investment arm, said Vivant is looking to develop up to 15 energy projects with capacities ranging from 30 megawatts (MW) to 300 MW.
\n\u201cWe\u2019re looking at starting heavy investments this year, but the heavier ones should be in \u201927 and \u201928, assuming, of course, that the macros improve, or at the very least, stay where they are,\u201d he said.
\nVivant currently has an attributable operating generation capacity of around 471 MW and is targeting to expand its power portfolio to 1,000 MW by 2030.
\nFor its water business, the company is planning another P7 billion in investments across the water value chain, including bulk water supply, desalination, wastewater, and water distribution projects.
\nJess Anthony N. Garcia, president and chief executive officer of Vivant Water, said the investment pipeline is intended primarily to expand the company\u2019s desalination, wastewater, and water distribution segments.
\n\u201cI think for the water sector, it\u2019s a sector that\u2019s been largely neglected. And I think because of that, there\u2019s a lot of room there to improve infrastructure,\u201d he said.
\nVivant Water is set to operationalize a desalination plant in Cordova capable of producing up to 20 million liters of water per day.
\nVivant has investments in electric power generation and distribution, retail electricity supply, bulk water supply, wastewater treatment, and water distribution. \u2014 Sheldeen Joy Talavera
\n", "content_text": "CEBU-BASED conglomerate Vivant Corp. is studying the possibility of conducting a follow-on offering to help finance its planned P67-billion investment pipeline through 2030.\n\u201cWe\u2019re studying the possibility of doing a follow-on offering also. But of course, we have to consider the market conditions when we do the follow-on offering,\u201d Vivant Chief Finance Officer and Risk Officer Minuel Carmela N. Franco said during the company\u2019s annual stockholders\u2019 meeting on Thursday.\nShe said the company plans to fund its pipeline of projects through a combination of debt and internal equity.\nVivant is planning around P60 billion in investments for its energy business from 2026 to 2030, particularly for renewable energy (RE) projects and related infrastructure.\n\u201cWe have laid out an ambitious roadmap with total projected investments amounting to P60 billion from 2026 to 2030,\u201d Vivant Chief Executive Officer Arlo G. Sarmiento said.\nAbout 78% of the planned investments will go toward renewable energy projects.\n\u201cStabilized by our strong foundation of existing investments in power and water, I am confident that our projected P60-billion to P70-billion pipeline investments over the next five years will allow us to continue to deliver on our mission to bring excellence to industries that improve everyday living,\u201d he said.\nAmid ongoing geopolitical tensions in the Middle East, company officials said renewable energy development could help reduce the country\u2019s dependence on imported conventional fuel sources.\n\u201cWe could use more RE. Our dependence on conventional energy sources has made us the most expensive, maybe next to Singapore, country in terms of power costs. And that\u2019s largely because of our dependence on oil, gas, and even coal,\u201d Mr. Sarmiento said.\nEmil Andre Garcia, president and chief executive officer of Vivant Energy Corp., the company\u2019s wholly owned energy investment arm, said Vivant is looking to develop up to 15 energy projects with capacities ranging from 30 megawatts (MW) to 300 MW.\n\u201cWe\u2019re looking at starting heavy investments this year, but the heavier ones should be in \u201927 and \u201928, assuming, of course, that the macros improve, or at the very least, stay where they are,\u201d he said.\nVivant currently has an attributable operating generation capacity of around 471 MW and is targeting to expand its power portfolio to 1,000 MW by 2030.\nFor its water business, the company is planning another P7 billion in investments across the water value chain, including bulk water supply, desalination, wastewater, and water distribution projects.\nJess Anthony N. Garcia, president and chief executive officer of Vivant Water, said the investment pipeline is intended primarily to expand the company\u2019s desalination, wastewater, and water distribution segments.\n\u201cI think for the water sector, it\u2019s a sector that\u2019s been largely neglected. And I think because of that, there\u2019s a lot of room there to improve infrastructure,\u201d he said.\nVivant Water is set to operationalize a desalination plant in Cordova capable of producing up to 20 million liters of water per day.\nVivant has investments in electric power generation and distribution, retail electricity supply, bulk water supply, wastewater treatment, and water distribution. \u2014 Sheldeen Joy Talavera", "date_published": "2026-05-22T00:10:05+08:00", "date_modified": "2026-05-21T19:54:39+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/vivant.jpg", "tags": [ "Sheldeen Joy Talavera", "Corporate", "Editors' Picks" ] }, { "id": "/?p=751359", "url": "/corporate/2026/05/22/751359/megawide-profit-up-24-on-stronger-operations/", "title": "Megawide profit up 24% on stronger operations", "content_html": "MEGAWIDE Construction Corp. posted a 24% increase in first-quarter (Q1) attributable net income to P265.35 million, driven by strong results from its real estate operations and sustained performance from its construction segment.
\n\u201cOur results in the first three months are consistent with our back-ended target for the year. While we sustained a healthy performance early on, we have yet to quantify the impact of the Middle East war and a newly replenished construction order book in the coming months,\u201d Megawide Chairman and Chief Executive Officer Edgar B. Saavedra said in a media release on Thursday.
\nFor the January-to-March period, the listed engineering and construction company posted gross revenue of P5.04 billion, up 16.4% from P4.33 billion a year earlier.
\nMegawide said revenues from operations accounted for 95.44% of total revenue at P4.81 billion. Construction operations contributed P3.84 billion, while landport and real estate operations generated P137.86 million and P831.13 million, respectively.
\n\u201cOverall, the revenue growth reflects increased project activity and portfolio expansion, with the real estate segment providing a higher contribution during the period. However, revenues remain partially influenced by project timing and recognition cycles, particularly for construction and real estate operations,\u201d the company said.
\nTotal expenses rose 15.59% to P4.67 billion from P4.04 billion previously.
\nMegawide said the impact of the Middle East war, which escalated in February, has yet to materialize. The company added that it continues to explore strategies to strengthen revenue growth and its balance sheet.
\n\u201cThe other side of our value creation strategy is boosting our financial position to ease the debt-servicing burden and provide financial flexibility. Already, we have pared down almost P6 billion of our short-term debt in the first quarter alone, which should translate to estimated interest cost savings of around P250 million to P300 million for the year based on our average cost of debt,\u201d Mr. Saavedra said.
\nMegawide said its bank debt-to-equity ratio improved to 1.1x as of end-March from 1.54x at end-2025, in line with its medium-term commitments and long-term financial management program.
\n\u201cFor the remainder of the year, we are programmed to pay down another P2.5 billion to P3 billion from our short-term obligations as we aim to boost our liquidity and free up more debt headroom to support our long-term growth aspirations,\u201d Chief Financial Officer Jez G. dela Cruz said.
\nMegawide has a construction order book worth P48.7 billion and is building 11,000 housing units under the government\u2019s expanded 4PH program. The company is also developing the Baguio City Integrated Terminal, the South Luzon Integrated Terminal Exchange, and the Cavite Bus Rapid Transit System.
\nShares in Megawide fell three centavos, or 0.94%, to close at P3.17 apiece. \u2014 Ashley Erika O. Jose
\n", "content_text": "MEGAWIDE Construction Corp. posted a 24% increase in first-quarter (Q1) attributable net income to P265.35 million, driven by strong results from its real estate operations and sustained performance from its construction segment.\n\u201cOur results in the first three months are consistent with our back-ended target for the year. While we sustained a healthy performance early on, we have yet to quantify the impact of the Middle East war and a newly replenished construction order book in the coming months,\u201d Megawide Chairman and Chief Executive Officer Edgar B. Saavedra said in a media release on Thursday.\nFor the January-to-March period, the listed engineering and construction company posted gross revenue of P5.04 billion, up 16.4% from P4.33 billion a year earlier.\nMegawide said revenues from operations accounted for 95.44% of total revenue at P4.81 billion. Construction operations contributed P3.84 billion, while landport and real estate operations generated P137.86 million and P831.13 million, respectively.\n\u201cOverall, the revenue growth reflects increased project activity and portfolio expansion, with the real estate segment providing a higher contribution during the period. However, revenues remain partially influenced by project timing and recognition cycles, particularly for construction and real estate operations,\u201d the company said.\nTotal expenses rose 15.59% to P4.67 billion from P4.04 billion previously.\nMegawide said the impact of the Middle East war, which escalated in February, has yet to materialize. The company added that it continues to explore strategies to strengthen revenue growth and its balance sheet.\n\u201cThe other side of our value creation strategy is boosting our financial position to ease the debt-servicing burden and provide financial flexibility. Already, we have pared down almost P6 billion of our short-term debt in the first quarter alone, which should translate to estimated interest cost savings of around P250 million to P300 million for the year based on our average cost of debt,\u201d Mr. Saavedra said.\nMegawide said its bank debt-to-equity ratio improved to 1.1x as of end-March from 1.54x at end-2025, in line with its medium-term commitments and long-term financial management program.\n\u201cFor the remainder of the year, we are programmed to pay down another P2.5 billion to P3 billion from our short-term obligations as we aim to boost our liquidity and free up more debt headroom to support our long-term growth aspirations,\u201d Chief Financial Officer Jez G. dela Cruz said.\nMegawide has a construction order book worth P48.7 billion and is building 11,000 housing units under the government\u2019s expanded 4PH program. The company is also developing the Baguio City Integrated Terminal, the South Luzon Integrated Terminal Exchange, and the Cavite Bus Rapid Transit System.\nShares in Megawide fell three centavos, or 0.94%, to close at P3.17 apiece. \u2014 Ashley Erika O. Jose", "date_published": "2026-05-22T00:09:04+08:00", "date_modified": "2026-05-21T19:54:04+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2025/01/Megawide-construction-workers.jpg", "tags": [ "Ashley Erika O. Jose", "Corporate", "Editors' Picks" ] }, { "id": "/?p=751326", "url": "/banking-finance/2026/05/22/751326/moodys-affirms-bdo-and-bpis-ratings-outlooks/", "title": "Moody\u2019s affirms BDO and BPI\u2019s ratings, outlooks", "content_html": "MOODY\u2019S RATINGS has affirmed its long- and short-term ratings and outlooks for BDO Unibank, Inc. and Bank of the Philippine Islands (BPI), citing their profitability and strong deposit bases.
\nThe debt watcher affirmed the two banks\u2019 \u201cBaa2/P-2\u201d long- and short-term foreign and local currency deposit ratings and \u201cstable\u201d outlooks, it said in separate statements late on Wednesday.
\nAlso affirmed were their counterparty risk ratings and assessments, baseline credit assessments, and the ratings for their respective medium-term note programs.
\nFor BDO, Moody\u2019s said the affirmed ratings reflect its strong asset quality, funding and liquidity, adding that it has ample buffers and good profitability.
\n\u201cThe bank\u2019s funding and liquidity will remain its key strengths, with a robust and dominant deposit franchise supporting its very high deposit market share, and hence access to lower cost of funding and high current and savings account deposit ratio of 68% as of end-2025. Its less-stable funds ratio stood at an adequate 23.1% as of end-2025, while its core banking liquidity ratio was 20.6% as of the same date,\u201d it said.
\nIt added that BDO\u2019s nonperforming loan (NPL) ratio is likely to stay stable this year, still supported by write-offs on its fast-growing unsecured retail loans.
\nMeanwhile, its credit costs may stay elevated amid the surge in the share of consumer loans in its portfolio over the past two years, and amid preemptive provisioning as macroeconomic conditions become more challenging.
\n\u201cThe bank\u2019s high concentration to large corporate loans and long-dated investment securities will also pose risks to its asset quality.\u201d
\nThe credit rater sees BDO\u2019s return on assets (RoA) to range from 1.4% to 1.5% this year as net interest margin (NIM) stabilizes, even while credit costs and operating expenses remain elevated.
\nMeanwhile, capitalization will stay adequate, although capital generation may grow slower as credit demand eases. Widening government bond yields could also hit its Tier 1 ratio.
\nMoody\u2019s said BDO\u2019s deposit ratings will depend largely on the movement of the Philippines\u2019 sovereign rating as they are at the same level.
\nMeanwhile, a significant deterioration in its asset quality, which could drive up credit costs and hit its earnings, as well as increased risks from related party lending or loan concentration, could lead to a downgrade.
\nBPI
\nFor BPI, Moody\u2019s said it credit strengths are strong profitability, adequate capital, healthy liquidity, and stable funding supported by its solid deposit franchise.
These balance out its weakening loan quality as it continues to expand its higher-risk retail lending businesses and amid \u201cchallenges\u201d in its corporate segment after it reported in the first quarter that \u201cseveral corporate loans slipped into problem loans due to challenges unrelated to the conflict in the Middle East.\u201d
\nIt said the bank\u2019s problem loan ratio and credit costs have increased amid the seasoning of its retail loans and heightened macroeconomic risks.
\n\u201cWe expect the retail segments to experience further strain in 2026, given the shrinking financial buffers of retail borrowers amid higher inflation in the Philippines,\u201d Moody\u2019s said.
\n\u201cAlthough the bank has tightened credit underwriting and plans to moderate its retail loan growth, we expect the bank\u2019s asset risks to remain elevated, with credit costs normalizing closer to the 0.9% range in 2026. The bank\u2019s high concentration to large corporate loans and long-dated investment securities will also pose risks to its asset quality.\u201d
\nMeanwhile, the bank\u2019s NIM will likely continue expanding in line with growth in its retail loan, while its RoA could decline slightly due to elevated credit costs.
\n\u201cAdditionally, lower repayment capacities of retail borrowers amid higher inflation will add further upside on the bank\u2019s credit costs.\u201d
\nThe debt watcher said BPI\u2019s funding and liquidity will remain strong thanks to its strong deposit base.
\n\u201cAlthough the bank\u2019s current and savings account deposit ratio has declined to 60% as of March 2026, from 63% the year before, the bank\u2019s cost of funds remains one of the lowest among its domestic rated peers. As of end-2025, the bank\u2019s less-stable funds ratio stood at a good level of 17.1% and its core banking liquid assets ratio was 21.7%.\u201d
\nLike BDO, BPI\u2019s ratings will hinge on the movement of the Philippines\u2019 sovereign rating as they are at the same level.
\nDowngrades could be possible if its solvency metrics, including its asset quality and liquidity ratios, worsen significantly. \u2014 Aaron Michael C. Sy
\n", "content_text": "MOODY\u2019S RATINGS has affirmed its long- and short-term ratings and outlooks for BDO Unibank, Inc. and Bank of the Philippine Islands (BPI), citing their profitability and strong deposit bases.\nThe debt watcher affirmed the two banks\u2019 \u201cBaa2/P-2\u201d long- and short-term foreign and local currency deposit ratings and \u201cstable\u201d outlooks, it said in separate statements late on Wednesday.\nAlso affirmed were their counterparty risk ratings and assessments, baseline credit assessments, and the ratings for their respective medium-term note programs.\nFor BDO, Moody\u2019s said the affirmed ratings reflect its strong asset quality, funding and liquidity, adding that it has ample buffers and good profitability.\n\u201cThe bank\u2019s funding and liquidity will remain its key strengths, with a robust and dominant deposit franchise supporting its very high deposit market share, and hence access to lower cost of funding and high current and savings account deposit ratio of 68% as of end-2025. Its less-stable funds ratio stood at an adequate 23.1% as of end-2025, while its core banking liquidity ratio was 20.6% as of the same date,\u201d it said.\nIt added that BDO\u2019s nonperforming loan (NPL) ratio is likely to stay stable this year, still supported by write-offs on its fast-growing unsecured retail loans.\nMeanwhile, its credit costs may stay elevated amid the surge in the share of consumer loans in its portfolio over the past two years, and amid preemptive provisioning as macroeconomic conditions become more challenging.\n\u201cThe bank\u2019s high concentration to large corporate loans and long-dated investment securities will also pose risks to its asset quality.\u201d\nThe credit rater sees BDO\u2019s return on assets (RoA) to range from 1.4% to 1.5% this year as net interest margin (NIM) stabilizes, even while credit costs and operating expenses remain elevated.\nMeanwhile, capitalization will stay adequate, although capital generation may grow slower as credit demand eases. Widening government bond yields could also hit its Tier 1 ratio.\nMoody\u2019s said BDO\u2019s deposit ratings will depend largely on the movement of the Philippines\u2019 sovereign rating as they are at the same level.\nMeanwhile, a significant deterioration in its asset quality, which could drive up credit costs and hit its earnings, as well as increased risks from related party lending or loan concentration, could lead to a downgrade.\nBPI\nFor BPI, Moody\u2019s said it credit strengths are strong profitability, adequate capital, healthy liquidity, and stable funding supported by its solid deposit franchise. \nThese balance out its weakening loan quality as it continues to expand its higher-risk retail lending businesses and amid \u201cchallenges\u201d in its corporate segment after it reported in the first quarter that \u201cseveral corporate loans slipped into problem loans due to challenges unrelated to the conflict in the Middle East.\u201d\nIt said the bank\u2019s problem loan ratio and credit costs have increased amid the seasoning of its retail loans and heightened macroeconomic risks.\n\u201cWe expect the retail segments to experience further strain in 2026, given the shrinking financial buffers of retail borrowers amid higher inflation in the Philippines,\u201d Moody\u2019s said.\n\u201cAlthough the bank has tightened credit underwriting and plans to moderate its retail loan growth, we expect the bank\u2019s asset risks to remain elevated, with credit costs normalizing closer to the 0.9% range in 2026. The bank\u2019s high concentration to large corporate loans and long-dated investment securities will also pose risks to its asset quality.\u201d\nMeanwhile, the bank\u2019s NIM will likely continue expanding in line with growth in its retail loan, while its RoA could decline slightly due to elevated credit costs.\n\u201cAdditionally, lower repayment capacities of retail borrowers amid higher inflation will add further upside on the bank\u2019s credit costs.\u201d\nThe debt watcher said BPI\u2019s funding and liquidity will remain strong thanks to its strong deposit base.\n\u201cAlthough the bank\u2019s current and savings account deposit ratio has declined to 60% as of March 2026, from 63% the year before, the bank\u2019s cost of funds remains one of the lowest among its domestic rated peers. As of end-2025, the bank\u2019s less-stable funds ratio stood at a good level of 17.1% and its core banking liquid assets ratio was 21.7%.\u201d\nLike BDO, BPI\u2019s ratings will hinge on the movement of the Philippines\u2019 sovereign rating as they are at the same level.\nDowngrades could be possible if its solvency metrics, including its asset quality and liquidity ratios, worsen significantly. \u2014 Aaron Michael C. Sy", "date_published": "2026-05-22T00:07:25+08:00", "date_modified": "2026-05-21T19:22:36+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2025/05/Moodys.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance", "Editors' Picks" ] }, { "id": "/?p=751325", "url": "/banking-finance/2026/05/22/751325/metrobank-taps-ex-sun-life-philippines-country-head-as-independent-director/", "title": "Metrobank taps ex-Sun Life Philippines country head as independent director", "content_html": "METROPOLITAN Bank & Trust Co. (Metrobank) has appointed former Sun Life of Canada (Philippines), Inc. (Sun Life Philippines) Chief Executive Officer and Country Head Benedict C. Sison as its new independent director.
\nThis came after the resignation of Philippine Savings Bank President Jose Vicente L. Alde as Metrobank director to focus on the thrift bank.
\n\u201cHis invaluable contributions over the past four years have been instrumental to Metrobank\u2019s sustained success. He will continue to provide strategic leadership within the Metrobank Group,\u201d Metrobank said.
\nMeanwhile, Mr. Sison, who retired from Sun Life Philippines earlier this year, is the fifth independent director to serve Metrobank\u2019s board.
\n\u201cA renowned veteran of the insurance industry, Mr. Sison\u2019s appointment underscored the bank\u2019s commitment to upholding the highest standards of corporate governance.\u201d
\nMr. Sison was also appointed as chairman of the board\u2019s Audit Committee and a regular member of the Risk Oversight Committee.
\nMeanwhile, Metrobank\u2019s board appointed Vice Chairman Francisco C. Sebastian as director of the Trust Committee, a seat previously held by director Anthony Paul C. Yap.
\nMr. Sebastian\u2019s previous role in the IT Steering Committee has now been assumed by Metrobank President and Director Fabian S. Dee.
\nMetrobank\u2019s attributable net income grew by 2.68% year on year to P12.603 billion in the first quarter. Its shares closed at P63 apiece on Thursday, down 35 centavos or 0.55% from Wednesday\u2019s finish. \u2014 Aaron Michael C. Sy
\n", "content_text": "METROPOLITAN Bank & Trust Co. (Metrobank) has appointed former Sun Life of Canada (Philippines), Inc. (Sun Life Philippines) Chief Executive Officer and Country Head Benedict C. Sison as its new independent director.\nThis came after the resignation of Philippine Savings Bank President Jose Vicente L. Alde as Metrobank director to focus on the thrift bank.\n\u201cHis invaluable contributions over the past four years have been instrumental to Metrobank\u2019s sustained success. He will continue to provide strategic leadership within the Metrobank Group,\u201d Metrobank said.\nMeanwhile, Mr. Sison, who retired from Sun Life Philippines earlier this year, is the fifth independent director to serve Metrobank\u2019s board.\n\u201cA renowned veteran of the insurance industry, Mr. Sison\u2019s appointment underscored the bank\u2019s commitment to upholding the highest standards of corporate governance.\u201d\nMr. Sison was also appointed as chairman of the board\u2019s Audit Committee and a regular member of the Risk Oversight Committee.\nMeanwhile, Metrobank\u2019s board appointed Vice Chairman Francisco C. Sebastian as director of the Trust Committee, a seat previously held by director Anthony Paul C. Yap.\nMr. Sebastian\u2019s previous role in the IT Steering Committee has now been assumed by Metrobank President and Director Fabian S. Dee.\nMetrobank\u2019s attributable net income grew by 2.68% year on year to P12.603 billion in the first quarter. Its shares closed at P63 apiece on Thursday, down 35 centavos or 0.55% from Wednesday\u2019s finish. \u2014 Aaron Michael C. Sy", "date_published": "2026-05-22T00:06:24+08:00", "date_modified": "2026-05-21T19:23:01+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/Metrobank-Benedict-C.-Sison.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance", "Editors' Picks" ] }, { "id": "/?p=751295", "url": "/arts-and-leisure/2026/05/22/751295/board-game-celebrates-philippine-modern-art/", "title": "Board game celebrates Philippine modern art", "content_html": "\r\n \r\n\r\nPLAYING board games is a cherished pastime among family and friends, especially now that people taking time away from screens is rare. There are various tabletop gaming clubs, organizations, and informal groups that cater to everyone from casual hobbyists and social players, to serious board game enthusiasts, who meet up weekly to sit down and spend hours at the tabletop.
\nWhile the likes of Scrabble, Monopoly, and Clue continue to be the most popular games, modern strategy games are also in demand. In the Philippines, local and localized titles provide a unique experience \u2014 the latest of which is Modern Art, a highly acclaimed international board game which now has a Philippine edition.
\nFollowing a collaboration between the Gaming Library and Fundacion Sans\u00f3, the art auction board game Modern Art by Dr. Reiner Knizia has been adapted locally to feature works by Federico Aguilar Alcuaz, Abdulmari Imao, Larry Alcala, Raul Lebajo, and Juvenal Sans\u00f3.
\n\u201cThe game is played by three to five players. Basically, you guys will be playing as museums and participating in auctions to sell and to collect paintings, and, depending on the season or the market, be given a return of value based on which artist is trending,\u201d said Gaming Library Chief Executive Officer Hans Kenner Fernandez, at the media preview held at Fundacion Sans\u00f3 in San Juan City.
\n\u201cWhat\u2019s exciting is that there are different types of auctions that you can participate in,\u201d he added.
\nGaming Library, aside from being a board game shop, is the organizer of All Aboard Expo, a tabletop gaming convention which is now in its second year. From May 28 to 31, it will be the venue for various board game tournaments and new title launches, including Modern Art.
\nOther local titles to be launched at the event are Sinigang (a card game of bluffing and timing where the goal is to cook the perfect pot of sinigang) and Kalikasan (a localized version of the habitat-building game Cascadia, featuring Philippine animals like tarsiers and tamaraws).
\nFINDING COMMON GROUND
\nWhile one would think there isn\u2019t much overlap between art enthusiasts and board game enthusiasts, Mr. Fernandez noted that the gap need not be too wide.
He explained that reaching out to Fundacion Sans\u00f3 was the perfect move, as it happens to have the Initiative for the Continuation of Artist\u2019s Estate, a program to help manage artists\u2019 estates (not just Mr. Sans\u00f3\u2019s) through legacy-building, skill transfer, and copyright management.
\n\u201cWhat we\u2019ve learned last year was we shouldn\u2019t just focus on people who already play games,\u201d he said. \u201cIf we can find similarities and common ground together, especially now when our political climate is trying to divide people, I feel like we can do the opposite. So, Modern Art came to be because we believe that art is really a big component of board games.\u201d
\nConsidered by gaming enthusiasts as a masterclass in game design, Modern Art is a classic board game centered on the dynamics of the art market. The Philippine Edition introduces works by five contemporary Philippine artists \u2014 National Artists Federico Aguilar Alcuaz, Larry Alcala, and Abdulmari Imao, Filipino surrealist Raul Lebajo, and Presidential Medal of Merit Awardee Juvenal Sans\u00f3 \u2014 with works ranging from comics to classic oil paintings, from sculptures to tapestries.
\nThe board game\u2019s layout and visual design were led by graphic artist Tanya Mallillin, in collaboration with Mr. Fernandez and Duane Galang from the Gaming Library. Select releases of Modern Art: Philippine Edition will include a limited-edition archival print of Juvenal Sans\u00f3\u2019s Fat Cat, produced in strictly limited quantities.
\nThe original creator of Modern Art, mathematics whiz Dr. Reiner Knizia, is revered among game designers with over 900 published games and books.
\n\u201c\u2018Monopoly but for art\u2019 is the easiest way to grasp what Modern Art is about,\u201d said Tenie Santos, Fundacion Sans\u00f3\u2019s assistant director, at the preview. \u201cNot a lot of people know how big the gaming community is in the Philippines. We actually have the biggest gaming community in Southeast Asia. And we\u2019re so happy because board games are actually a form of art, with visual components, storytelling, culture, and even math.\u201d
\nShe added that the project will help the five artists\u2019 estates gain visibility among younger generations.
\n\u201cMany of them don\u2019t know these artists anymore, so we need to do something about it. We have to be flexible to the changes, trends happening outside the museums,\u201d Ms. Santos said.
\nPart of proceeds from the sales of the game will go to Strays Worth Saving, which Fundacion Sans\u00f3 donated to for the first time last month from the deluxe preorders of the board game.
\n\u201cWe\u2019ll keep doing it while we still have stocks of the game and of the Fat Cat archival prints. We hope to reach out to the entire Filipino community, to support local and to support arts and culture,\u201d she said. \u201cHopefully this will encourage people to be into art and not be intimidated.\u201d
\nBIGGEST GAMING CONVENTION IN SEA
\nThe official launch of Modern Art: Philippine Edition will take place at All Aboard Expo 2026, to be held at the MICE Center inside the Quezon City Hall complex from May 28 to 31. Representatives from the five artists\u2019 estates will be present.
Mr. Fernandez said that, since it is the biggest tabletop gaming convention in Southeast Asia (SEA), they are expecting 15,000 attendees throughout the weekend. Last year, they had 10,500 attendees.
\n\u201cWe have 40 international brands flying over and visitors from Poland, Portugal, Vietnam, South Korea \u2014 about 30 countries in total,\u201d he said. \u201cPeople have volunteered to teach the new board games, so a demo team will guide you if you want to try to play some.\u201d
\nGames will be labeled from Stages 1 to 5, indicating increasing level of difficulty, with Modern Art: Philippine Edition assigned to Stage 2.
\n\u201cIt will only have 100 copies at All Aboard Expo, so come and try it and get yours when you can!\u201d Mr. Fernandez said.
\nEntrance to the event is free for Quezon City residents and priced at P150 for everyone else. More details can be found here: https://www.gaminglib.com/pages/all-aboard-expo-2026. \u2014 Bront\u00eb H. Lacsamana
\n", "content_text": "1 of 4\r\n \r\n \r\n \r\n \r\n \r\n \r\n\r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n\r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n \r\n\r\n \r\n\r\n \r\n \nNew and localized titles to launch at tabletop gaming convention\nPLAYING board games is a cherished pastime among family and friends, especially now that people taking time away from screens is rare. There are various tabletop gaming clubs, organizations, and informal groups that cater to everyone from casual hobbyists and social players, to serious board game enthusiasts, who meet up weekly to sit down and spend hours at the tabletop.\nWhile the likes of Scrabble, Monopoly, and Clue continue to be the most popular games, modern strategy games are also in demand. In the Philippines, local and localized titles provide a unique experience \u2014 the latest of which is Modern Art, a highly acclaimed international board game which now has a Philippine edition.\nFollowing a collaboration between the Gaming Library and Fundacion Sans\u00f3, the art auction board game Modern Art by Dr. Reiner Knizia has been adapted locally to feature works by Federico Aguilar Alcuaz, Abdulmari Imao, Larry Alcala, Raul Lebajo, and Juvenal Sans\u00f3.\n\u201cThe game is played by three to five players. Basically, you guys will be playing as museums and participating in auctions to sell and to collect paintings, and, depending on the season or the market, be given a return of value based on which artist is trending,\u201d said Gaming Library Chief Executive Officer Hans Kenner Fernandez, at the media preview held at Fundacion Sans\u00f3 in San Juan City.\n\u201cWhat\u2019s exciting is that there are different types of auctions that you can participate in,\u201d he added.\nGaming Library, aside from being a board game shop, is the organizer of All Aboard Expo, a tabletop gaming convention which is now in its second year. From May 28 to 31, it will be the venue for various board game tournaments and new title launches, including Modern Art.\nOther local titles to be launched at the event are Sinigang (a card game of bluffing and timing where the goal is to cook the perfect pot of sinigang) and Kalikasan (a localized version of the habitat-building game Cascadia, featuring Philippine animals like tarsiers and tamaraws).\nFINDING COMMON GROUND\nWhile one would think there isn\u2019t much overlap between art enthusiasts and board game enthusiasts, Mr. Fernandez noted that the gap need not be too wide.\nHe explained that reaching out to Fundacion Sans\u00f3 was the perfect move, as it happens to have the Initiative for the Continuation of Artist\u2019s Estate, a program to help manage artists\u2019 estates (not just Mr. Sans\u00f3\u2019s) through legacy-building, skill transfer, and copyright management.\n\u201cWhat we\u2019ve learned last year was we shouldn\u2019t just focus on people who already play games,\u201d he said. \u201cIf we can find similarities and common ground together, especially now when our political climate is trying to divide people, I feel like we can do the opposite. So, Modern Art came to be because we believe that art is really a big component of board games.\u201d\nConsidered by gaming enthusiasts as a masterclass in game design, Modern Art is a classic board game centered on the dynamics of the art market. The Philippine Edition introduces works by five contemporary Philippine artists \u2014 National Artists Federico Aguilar Alcuaz, Larry Alcala, and Abdulmari Imao, Filipino surrealist Raul Lebajo, and Presidential Medal of Merit Awardee Juvenal Sans\u00f3 \u2014 with works ranging from comics to classic oil paintings, from sculptures to tapestries. \nThe board game\u2019s layout and visual design were led by graphic artist Tanya Mallillin, in collaboration with Mr. Fernandez and Duane Galang from the Gaming Library. Select releases of Modern Art: Philippine Edition will include a limited-edition archival print of Juvenal Sans\u00f3\u2019s Fat Cat, produced in strictly limited quantities.\nThe original creator of Modern Art, mathematics whiz Dr. Reiner Knizia, is revered among game designers with over 900 published games and books.\n\u201c\u2018Monopoly but for art\u2019 is the easiest way to grasp what Modern Art is about,\u201d said Tenie Santos, Fundacion Sans\u00f3\u2019s assistant director, at the preview. \u201cNot a lot of people know how big the gaming community is in the Philippines. We actually have the biggest gaming community in Southeast Asia. And we\u2019re so happy because board games are actually a form of art, with visual components, storytelling, culture, and even math.\u201d\nShe added that the project will help the five artists\u2019 estates gain visibility among younger generations.\n\u201cMany of them don\u2019t know these artists anymore, so we need to do something about it. We have to be flexible to the changes, trends happening outside the museums,\u201d Ms. Santos said.\nPart of proceeds from the sales of the game will go to Strays Worth Saving, which Fundacion Sans\u00f3 donated to for the first time last month from the deluxe preorders of the board game.\n\u201cWe\u2019ll keep doing it while we still have stocks of the game and of the Fat Cat archival prints. We hope to reach out to the entire Filipino community, to support local and to support arts and culture,\u201d she said. \u201cHopefully this will encourage people to be into art and not be intimidated.\u201d\nBIGGEST GAMING CONVENTION IN SEA\nThe official launch of Modern Art: Philippine Edition will take place at All Aboard Expo 2026, to be held at the MICE Center inside the Quezon City Hall complex from May 28 to 31. Representatives from the five artists\u2019 estates will be present.\nMr. Fernandez said that, since it is the biggest tabletop gaming convention in Southeast Asia (SEA), they are expecting 15,000 attendees throughout the weekend. Last year, they had 10,500 attendees.\n\u201cWe have 40 international brands flying over and visitors from Poland, Portugal, Vietnam, South Korea \u2014 about 30 countries in total,\u201d he said. \u201cPeople have volunteered to teach the new board games, so a demo team will guide you if you want to try to play some.\u201d\nGames will be labeled from Stages 1 to 5, indicating increasing level of difficulty, with Modern Art: Philippine Edition assigned to Stage 2.\n\u201cIt will only have 100 copies at All Aboard Expo, so come and try it and get yours when you can!\u201d Mr. Fernandez said.\nEntrance to the event is free for Quezon City residents and priced at P150 for everyone else. More details can be found here: https://www.gaminglib.com/pages/all-aboard-expo-2026. \u2014 Bront\u00eb H. Lacsamana", "date_published": "2026-05-22T00:06:05+08:00", "date_modified": "2026-05-21T19:03:58+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/Board-game-2.jpg", "tags": [ "Bront\u00eb H. Lacsamana", "Arts & Leisure", "Editors' Picks" ], "summary": "PLAYING board games is a cherished pastime among family and friends, especially now that people taking time away from screens is rare. There are various tabletop gaming clubs, organizations, and informal groups that cater to everyone from casual hobbyists and social players, to serious board game enthusiasts, who meet up weekly to sit down and spend hours at the tabletop." }, { "id": "/?p=751324", "url": "/banking-finance/2026/05/22/751324/bpi-may-issue-first-blue-bond-this-year/", "title": "BPI may issue first blue bond this year", "content_html": "BANK of the Philippine Islands (BPI) could issue its first blue bond within the year but remains open to other funding options amid surging interest rates.
\n\u201cOne of the things that we would really like to do is issue a blue bond which is linked to water-related investments. Not only because we put the effort to get the framework in, but also because we think that there is demand from some of the vendors. As we market the bond, we create awareness for some of these projects,\u201d BPI Chief Financial and Sustainability Officer Eric M. Luchangco said at a media briefing on Thursday.
\nThe bank has over P50 billion in assets it can finance under the blue bond framework, he added.
\nHowever, higher interest rates due to the Middle East conflict have made the bank hesitant about tapping the debt market.
\n\u201cI think the deeper issue potentially preventing or affecting the timing of the issue is probably the global circumstances. If you had asked us in February, for example, whether we thought the market would be open for us to do an issue, I think the answer would have been, \u2018we don\u2019t have any issues there.\u2019 But the Middle East conflict really created some more volatility in the market. And I mean, I\u2019m sure you\u2019ve seen interest rates swing very high,\u201d he said at the sidelines of the same briefing.
\nThe bank could also tap other funding options to refinance a coming maturity in the third quarter, such as how it issued a green bond last year with the International Finance Corp. (IFC) as the sole subscriber that invested $250 million to help boost climate finance in the country.
\n\u201cWith IFC, it was not a widespread bond, but basically a corporate note that we bought.
\nIf that turns out to be more efficient for us, then we may go down that route again. Or if the public market seems more efficient for us, then we may go down that route,\u201d Mr. Luchangco said.
\nThe bank in June last year also raised P40 billion from 1.5-year SINAG or Supporting Inclusion, Nature, and Growth Bonds at 5.85% per annum, well above the P5-billion target.
\nHe added that the bank is not under any pressure to issue bonds as market conditions remain uncertain.
\nBPI\u2019s net income rose by 1.7% to P16.92 billion in the first quarter. Its shares went up by P2.4 or 2.76% to close at P89.50 each on Thursday. \u2014 Aaron Michael C. Sy
\n", "content_text": "BANK of the Philippine Islands (BPI) could issue its first blue bond within the year but remains open to other funding options amid surging interest rates.\n\u201cOne of the things that we would really like to do is issue a blue bond which is linked to water-related investments. Not only because we put the effort to get the framework in, but also because we think that there is demand from some of the vendors. As we market the bond, we create awareness for some of these projects,\u201d BPI Chief Financial and Sustainability Officer Eric M. Luchangco said at a media briefing on Thursday.\nThe bank has over P50 billion in assets it can finance under the blue bond framework, he added.\nHowever, higher interest rates due to the Middle East conflict have made the bank hesitant about tapping the debt market.\n\u201cI think the deeper issue potentially preventing or affecting the timing of the issue is probably the global circumstances. If you had asked us in February, for example, whether we thought the market would be open for us to do an issue, I think the answer would have been, \u2018we don\u2019t have any issues there.\u2019 But the Middle East conflict really created some more volatility in the market. And I mean, I\u2019m sure you\u2019ve seen interest rates swing very high,\u201d he said at the sidelines of the same briefing.\nThe bank could also tap other funding options to refinance a coming maturity in the third quarter, such as how it issued a green bond last year with the International Finance Corp. (IFC) as the sole subscriber that invested $250 million to help boost climate finance in the country.\n\u201cWith IFC, it was not a widespread bond, but basically a corporate note that we bought.\nIf that turns out to be more efficient for us, then we may go down that route again. Or if the public market seems more efficient for us, then we may go down that route,\u201d Mr. Luchangco said.\nThe bank in June last year also raised P40 billion from 1.5-year SINAG or Supporting Inclusion, Nature, and Growth Bonds at 5.85% per annum, well above the P5-billion target.\nHe added that the bank is not under any pressure to issue bonds as market conditions remain uncertain.\nBPI\u2019s net income rose by 1.7% to P16.92 billion in the first quarter. Its shares went up by P2.4 or 2.76% to close at P89.50 each on Thursday. \u2014 Aaron Michael C. Sy", "date_published": "2026-05-22T00:05:24+08:00", "date_modified": "2026-05-21T19:19:58+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2025/03/BPI-Davao-Azuela-Cove.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance", "Editors' Picks" ] }, { "id": "/?p=751294", "url": "/arts-and-leisure/2026/05/22/751294/content-creator-jemay-santiago-opens-up-through-music/", "title": "Content creator Jemay Santiago opens up through music", "content_html": "FOR Filipino R&B artist Jemay Santiago, who is also a prominent online content creator, making music allows her to reveal a more vulnerable side that is different from her more jovial public persona. So, it is not a surprise that her latest single, \u201c1A,\u201d which was released this month, presents a laidback sound and an inner depth.
\n\u201cThe context is that I came to a point where I had self-doubt and suicidal thoughts. I felt like a failure as a daughter, as a content creator, as a public figure,\u201d Ms. Santiago said at an interview on May 18 in Makati City. \u201cI\u2019m able to express it in song when I\u2019m in the recording studio. Doon lang ako nagiging totoo sa nararamdaman ko (That\u2019s the only place where I get real about my feelings).\u201d
\nTo further challenge the glamorized narratives often associated with mainstream exposure and music culture, the song is set to be the first single to be released from her upcoming EP, Depresyon.
\n\u201cI used to be scared to express myself as a public figure because people might take my weaknesses against me, but I thought it\u2019s better to be authentic, raw, and vulnerable for people to understand who you are and what you\u2019re going through \u2014 and for others to relate and realize they\u2019re not alone,\u201d the singer said.
\nThe track showcases hazy textures thanks to the mixing and mastering of Icy D. of Got Name? Collective, and the nocturnal beats care of Mark Arganda\u2019s production. Originally titled \u201cMARY1A,\u201d it was later shortened to \u201c1A,\u201d a metaphorical concept representing prioritizing oneself and personal healing.
\nAccording to Ms. Santiago, the number one signifies mental health being first, while the letter A represents beginning. Thus, \u201c1A\u201d openly addresses \u201cthe emotional realities hidden behind the smiles, confidence, and success often projected online.\u201d
\nBeing part of the lesbian, gay, bisexual, trans, queer, intersex, and asexual plus (LGBTQIA+) community also motivates the artist, who identifies as pansexual, or someone attracted to all genders. \u201cI\u2019ve seen hate comments about my identity, about how they think my music is bad, about how I\u2019m just a clout chaser,\u201d she said.
\nMs. Santiago explained that people don\u2019t bother to understand once they\u2019ve made judgments about you, adding that she had become a content creator to help with her mother\u2019s medical bills.
\n\u201cShe passed away two years ago,\u201d she said. \u201cWala man lang akong nagawa. Kaya nagawa ko \u2019yong kanta ngayon na palipat na ako mula sa pamilya papunta sa sarili ko. Kasi pakiramdam ko rin na nagkulang ako (I wasn\u2019t able to do anything. That\u2019s why I made this song, now that I\u2019m shifting from family to myself, because I felt I didn\u2019t do enough).\u201d
\nFor her, the pressure felt among LGBTQIA+ Filipinos who are trying to find themselves while also facing dangerous thoughts of failure and self-doubt, is quite common.
\n\u201cWe can be the most genuine and very happy, but we\u2019re also carrying our own struggles,\u201d she said. \u201cWe have to deal with it alone.\u201d
\nMs. Santiago added that music was the best way she found to tap into these unspoken feelings in the community.
\n\u201cI was 15 years old when I first found out I could compose my own songs. I loved to sing,\u201d she said. \u201cLittle did I know, being a musician could be my profession.\u201d
\n\u201c1A\u201d is out now on digital music streaming platforms. \u2014 Bront\u00eb H. Lacsamana
\n", "content_text": "New single confronts failure, self-doubt\nFOR Filipino R&B artist Jemay Santiago, who is also a prominent online content creator, making music allows her to reveal a more vulnerable side that is different from her more jovial public persona. So, it is not a surprise that her latest single, \u201c1A,\u201d which was released this month, presents a laidback sound and an inner depth.\n\u201cThe context is that I came to a point where I had self-doubt and suicidal thoughts. I felt like a failure as a daughter, as a content creator, as a public figure,\u201d Ms. Santiago said at an interview on May 18 in Makati City. \u201cI\u2019m able to express it in song when I\u2019m in the recording studio. Doon lang ako nagiging totoo sa nararamdaman ko (That\u2019s the only place where I get real about my feelings).\u201d\nTo further challenge the glamorized narratives often associated with mainstream exposure and music culture, the song is set to be the first single to be released from her upcoming EP, Depresyon. \n\u201cI used to be scared to express myself as a public figure because people might take my weaknesses against me, but I thought it\u2019s better to be authentic, raw, and vulnerable for people to understand who you are and what you\u2019re going through \u2014 and for others to relate and realize they\u2019re not alone,\u201d the singer said.\nThe track showcases hazy textures thanks to the mixing and mastering of Icy D. of Got Name? Collective, and the nocturnal beats care of Mark Arganda\u2019s production. Originally titled \u201cMARY1A,\u201d it was later shortened to \u201c1A,\u201d a metaphorical concept representing prioritizing oneself and personal healing.\nAccording to Ms. Santiago, the number one signifies mental health being first, while the letter A represents beginning. Thus, \u201c1A\u201d openly addresses \u201cthe emotional realities hidden behind the smiles, confidence, and success often projected online.\u201d\nBeing part of the lesbian, gay, bisexual, trans, queer, intersex, and asexual plus (LGBTQIA+) community also motivates the artist, who identifies as pansexual, or someone attracted to all genders. \u201cI\u2019ve seen hate comments about my identity, about how they think my music is bad, about how I\u2019m just a clout chaser,\u201d she said.\nMs. Santiago explained that people don\u2019t bother to understand once they\u2019ve made judgments about you, adding that she had become a content creator to help with her mother\u2019s medical bills.\n\u201cShe passed away two years ago,\u201d she said. \u201cWala man lang akong nagawa. Kaya nagawa ko \u2019yong kanta ngayon na palipat na ako mula sa pamilya papunta sa sarili ko. Kasi pakiramdam ko rin na nagkulang ako (I wasn\u2019t able to do anything. That\u2019s why I made this song, now that I\u2019m shifting from family to myself, because I felt I didn\u2019t do enough).\u201d\nFor her, the pressure felt among LGBTQIA+ Filipinos who are trying to find themselves while also facing dangerous thoughts of failure and self-doubt, is quite common.\n\u201cWe can be the most genuine and very happy, but we\u2019re also carrying our own struggles,\u201d she said. \u201cWe have to deal with it alone.\u201d\nMs. Santiago added that music was the best way she found to tap into these unspoken feelings in the community.\n\u201cI was 15 years old when I first found out I could compose my own songs. I loved to sing,\u201d she said. \u201cLittle did I know, being a musician could be my profession.\u201d\n\u201c1A\u201d is out now on digital music streaming platforms. \u2014 Bront\u00eb H. Lacsamana", "date_published": "2026-05-22T00:05:05+08:00", "date_modified": "2026-05-21T19:04:37+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/Jemay-Santiago.jpg", "tags": [ "Bront\u00eb H. Lacsamana", "Arts & Leisure", "Editors' Picks" ], "summary": "FOR Filipino R&B artist Jemay Santiago, who is also a prominent online content creator, making music allows her to reveal a more vulnerable side that is different from her more jovial public persona. So, it is not a surprise that her latest single, \u201c1A,\u201d which was released this month, presents a laidback sound and an inner depth." }, { "id": "/?p=751240", "url": "/opinion/2026/05/22/751240/the-philippine-senate-from-institutional-guardrail-to-systemic-risks/", "title": "The Philippine Senate: From institutional guardrail to systemic risks", "content_html": "What transpired in the Philippine Senate over the past week may eventually be remembered not simply as another episode of political drama, but as a defining moment in the deterioration of one of the country\u2019s most important democratic institutions. In attempting to protect itself and its political allies, the Senate may have triggered two forms of risk simultaneously: first, an idiosyncratic risk unique to the institution itself; and second, a broader systemic or economywide risk whose consequences extend far beyond the halls of Congress.
\nThe first risk is institutional and reputational.
\nThe sequence of events has now entered public consciousness. A senator facing an International Criminal Court-related warrant was effectively sheltered within Senate premises under \u201cprotective custody,\u201d allowed to participate in a dramatic leadership change, and later escorted out of the building despite active efforts by authorities to serve him the warrant. The Senate initially projected the narrative that it was under external threat. Subsequent reports, however, showed otherwise. The alleged \u201cattack\u201d appeared exaggerated, if not entirely imagined. Philippine National Police (PNP) and Department of the Interior and Local Government (DILG) official reports indicated that the gunfire came from Senate security personnel themselves and involved only a lone National Bureau of Investigation (NBI) agent who had remained behind upon the request of Government Service Insurance System (GSIS) authorities to help secure their premises.
\nThe Supreme Court\u2019s subsequent denial of the senator\u2019s petition for a Temporary Restraining Order further weakened the legal and moral basis for the Senate\u2019s actions. The implication became difficult to avoid: the institution appeared less interested in defending constitutional independence than in shielding one of its own.
\nSELF-INFLICTED DAMAGE
\nThis is where the Senate inflicted damage upon itself.
For decades, the Senate cultivated the image of being the country\u2019s stabilizing institution, the chamber where statesmanship prevailed over political impulse, where independent judgment tempered executive excess, and where constitutional principles carried greater weight than partisan loyalty. That image has now been severely compromised.
\nThe problem did not begin this week or last week. The Senate had already suffered reputational damage last year when it refused to immediately proceed with the impeachment process against the Vice-President and instead remanded the matter back to the House of Representatives on procedural grounds. To many, that decision suggested a reluctance to confront politically difficult issues directly despite the Constitution\u2019s use of the word \u201cforthwith.\u201d
\nTo its credit, the Senate this year finally organized itself into an impeachment court. But the institutional damage had already accumulated. The events of the past week only reinforced public suspicion that accountability in the country has become selective and negotiable.
\nThat is the essence of the Senate\u2019s idiosyncratic risk.
\nIt is a risk unique to the institution itself: the erosion of its credibility, legitimacy, and moral authority. The Senate now faces a growing perception that it no longer functions as an independent constitutional body guided principally by law and national interest, but increasingly as a political sanctuary shaped by alliances, personalities, and survival instincts.
\nThe decline is not merely procedural; it is cultural and institutional.
\nThe Senate today is increasingly perceived as dominated by celebrity politics, media performance, and political theatrics rather than serious legislation and statesmanship. Public debate has become noisier but less substantive. Committee assignments often appear driven more by political convenience than expertise. Institutional independence, once the Senate\u2019s defining characteristic, now appears inconsistent and selective depending on the issue involved.
\nThis deterioration matters because institutions derive their authority not only from constitutional design but from public trust. Once that trust weakens, institutional legitimacy begins to erode.
\nSYSTEMIC RISK, MORE SERIOUS
\nBut the second risk is even more serious.
The Senate\u2019s credibility crisis is no longer confined to itself. It now threatens to generate systemic or economywide consequences, particularly at a time when the Philippine economy is already showing increasing signs of stagflation.
\nThis concern is not speculative. No less than President Ferdinand Marcos, Jr. himself has publicly expressed concern over the possible emergence of stagflationary conditions in the country. That concern is not without basis.
\nPHILIPPINE ECONOMY LOSING STEAM
\nThe Philippine economy has clearly been losing momentum. Annual GDP growth slowed from 5.7% in 2024 to 4.4% in 2025. Quarterly growth data have shown a continuing downtrend, culminating in a disappointing 2.8% in real GDP growth in the first quarter of 2026.
The weakness is broad-based.
\nAgriculture remains under pressure, with palay production continuing to decline amid structural inefficiencies, climate disruptions, and supply constraints. Industry has weakened significantly, from 5.6% growth in 2024 to only 1.7% in 2025, before contracting by 0.1% in the first quarter of 2026. Manufacturing barely expanded during the same period, while construction sharply decelerated to 2.8% from 7.1% the previous year. Even the services sector, traditionally the economy\u2019s growth anchor, has shown visible moderation.
\nELEVATED INFLATION
\nAt the same time, inflationary pressures remain elevated.
Consumer prices continue to erode household purchasing power, particularly among lower-income Filipinos already burdened by food and transport costs. More concerning are the inflation forecasts themselves. Following the elevated April inflation print of 7.2%, well above the Bangko Sentral ng Pilipinas\u2019 target range, inflation is now projected to average 6.3% in 2026 and 4.3% in 2027, both significantly above target.
\nThe upside risks are equally troubling: geopolitical tensions involving Iran, Israel, and the United States; uncertainties surrounding the Strait of Hormuz; the threat of El Ni\u00f1o to domestic food supply; second-round effects on transport fares and wages; and the sustained weakening of the peso.
\nThis is the dangerous combination that is characteristic of stagflation: slowing growth accompanied by persistently high inflation.
\nACCELERATING ECONOMIC VULNERABILITIES
\nThe Senate\u2019s recent actions did not create these economic vulnerabilities. But they may have accelerated them by injecting another thick layer of uncertainty into an already fragile environment.
Political institutions are not isolated from economic outcomes. Weak institutions create uncertainty; uncertainty weakens confidence; and weakened confidence discourages investment and economic activity.
\nThe timing therefore could not be worse.
\nThe country\u2019s fiscal space is already narrowing rapidly. National Government debt has exceeded 65% of GDP, while weak revenue generation continues to constrain the government\u2019s capacity to sustain aggressive infrastructure and development spending. The ongoing controversies surrounding flood control projects and public spending have also created a chilling effect within the bureaucracy, slowing implementation, and weakening capital formation.
\nMeanwhile, the Philippine economy remains heavily dependent on overseas remittances and business process outsourcing or BPO revenues, both of which are vulnerable to global instability. The recent Middle East conflict therefore presents not merely a geopolitical concern but a direct economic threat to remittance flows, labor markets, and energy prices.
\nThe country\u2019s energy vulnerability remains especially alarming. The Philippines remains heavily dependent on imported fossil fuel, exposing the economy to external price shocks and supply disruptions. Red alerts in the Luzon and Visayas power grids have already underscored the fragility of domestic energy supply and transmission systems.
\nCONFUSION AND FRAGILITY
\nUnder such conditions, what the country requires most are stable, disciplined, and credible institutions capable of reassuring markets and encouraging long-term investment.
Instead, the Senate projected confusion, volatility, and institutional fragility.
\nThe implications are not theoretical. Financial markets respond quickly to political instability. Investor confidence weakens. Currency pressures intensify. Risk premiums rise. Businesses postpone expansion decisions. Foreign investors become more cautious toward economies where institutions themselves appear unstable or politicized.
\nIndeed, even international media coverage reflected those concerns. Foreign reporting described the Philippines as entering another period of political turmoil and institutional instability. What should have demonstrated democratic maturity instead projected political spectacle and constitutional uncertainty.
\nFROM IDIOSYNCRATIC TO SYSTEMIC RISK
\nThis is how idiosyncratic risk transforms into systemic risk.
The Senate may initially have believed that the controversy involved only an internal political maneuver, a leadership dispute, the protection of an ally, or an institutional turf issue. But institutions do not operate in isolation. Their actions shape perceptions regarding governance quality, rule of law, accountability, and policy stability across the entire political system.
\nAnd in an economy already facing slowing growth and elevated inflation, the additional burden of institutional instability may hasten the emergence of stagflationary conditions.
\nThe tragedy is that the Senate once represented the opposite. It was historically regarded as the country\u2019s last major institutional guardrail, a chamber capable of moderating political excesses, defending constitutional boundaries, and producing leaders with intellectual depth and independence.
\nToday, that reputation is badly diminished.
\nUltimately, the gravest damage inflicted last week was not on any political faction or branch of government. It was on the credibility and legitimacy of the Philippine Senate itself. And in weakening one of the country\u2019s most important democratic institutions, the Senate may also have deepened the economywide risks confronting the Philippines at a particularly vulnerable moment in its history.
\nTo be sure, what the Philippine Senate is doing is hardly revolutionary. Yet like Saturn of old, it risks consuming the very forces it once nurtured.
\n\n
Diwa C. Guinigundo is the former deputy governor for the Monetary and Economics Sector, the Bangko Sentral ng Pilipinas (BSP). He served the BSP for 41 years. In 2001-2003, he was alternate executive director at the International Monetary Fund in Washington, DC. He is the senior pastor of the Fullness of Christ International Ministries in Mandaluyong.
\n", "content_text": "What transpired in the Philippine Senate over the past week may eventually be remembered not simply as another episode of political drama, but as a defining moment in the deterioration of one of the country\u2019s most important democratic institutions. In attempting to protect itself and its political allies, the Senate may have triggered two forms of risk simultaneously: first, an idiosyncratic risk unique to the institution itself; and second, a broader systemic or economywide risk whose consequences extend far beyond the halls of Congress.\nThe first risk is institutional and reputational.\nThe sequence of events has now entered public consciousness. A senator facing an International Criminal Court-related warrant was effectively sheltered within Senate premises under \u201cprotective custody,\u201d allowed to participate in a dramatic leadership change, and later escorted out of the building despite active efforts by authorities to serve him the warrant. The Senate initially projected the narrative that it was under external threat. Subsequent reports, however, showed otherwise. The alleged \u201cattack\u201d appeared exaggerated, if not entirely imagined. Philippine National Police (PNP) and Department of the Interior and Local Government (DILG) official reports indicated that the gunfire came from Senate security personnel themselves and involved only a lone National Bureau of Investigation (NBI) agent who had remained behind upon the request of Government Service Insurance System (GSIS) authorities to help secure their premises.\nThe Supreme Court\u2019s subsequent denial of the senator\u2019s petition for a Temporary Restraining Order further weakened the legal and moral basis for the Senate\u2019s actions. The implication became difficult to avoid: the institution appeared less interested in defending constitutional independence than in shielding one of its own.\nSELF-INFLICTED DAMAGE\nThis is where the Senate inflicted damage upon itself.\nFor decades, the Senate cultivated the image of being the country\u2019s stabilizing institution, the chamber where statesmanship prevailed over political impulse, where independent judgment tempered executive excess, and where constitutional principles carried greater weight than partisan loyalty. That image has now been severely compromised.\nThe problem did not begin this week or last week. The Senate had already suffered reputational damage last year when it refused to immediately proceed with the impeachment process against the Vice-President and instead remanded the matter back to the House of Representatives on procedural grounds. To many, that decision suggested a reluctance to confront politically difficult issues directly despite the Constitution\u2019s use of the word \u201cforthwith.\u201d\nTo its credit, the Senate this year finally organized itself into an impeachment court. But the institutional damage had already accumulated. The events of the past week only reinforced public suspicion that accountability in the country has become selective and negotiable.\nThat is the essence of the Senate\u2019s idiosyncratic risk.\nIt is a risk unique to the institution itself: the erosion of its credibility, legitimacy, and moral authority. The Senate now faces a growing perception that it no longer functions as an independent constitutional body guided principally by law and national interest, but increasingly as a political sanctuary shaped by alliances, personalities, and survival instincts.\nThe decline is not merely procedural; it is cultural and institutional.\nThe Senate today is increasingly perceived as dominated by celebrity politics, media performance, and political theatrics rather than serious legislation and statesmanship. Public debate has become noisier but less substantive. Committee assignments often appear driven more by political convenience than expertise. Institutional independence, once the Senate\u2019s defining characteristic, now appears inconsistent and selective depending on the issue involved.\nThis deterioration matters because institutions derive their authority not only from constitutional design but from public trust. Once that trust weakens, institutional legitimacy begins to erode.\nSYSTEMIC RISK, MORE SERIOUS\nBut the second risk is even more serious.\nThe Senate\u2019s credibility crisis is no longer confined to itself. It now threatens to generate systemic or economywide consequences, particularly at a time when the Philippine economy is already showing increasing signs of stagflation.\nThis concern is not speculative. No less than President Ferdinand Marcos, Jr. himself has publicly expressed concern over the possible emergence of stagflationary conditions in the country. That concern is not without basis.\nPHILIPPINE ECONOMY LOSING STEAM\nThe Philippine economy has clearly been losing momentum. Annual GDP growth slowed from 5.7% in 2024 to 4.4% in 2025. Quarterly growth data have shown a continuing downtrend, culminating in a disappointing 2.8% in real GDP growth in the first quarter of 2026.\nThe weakness is broad-based.\nAgriculture remains under pressure, with palay production continuing to decline amid structural inefficiencies, climate disruptions, and supply constraints. Industry has weakened significantly, from 5.6% growth in 2024 to only 1.7% in 2025, before contracting by 0.1% in the first quarter of 2026. Manufacturing barely expanded during the same period, while construction sharply decelerated to 2.8% from 7.1% the previous year. Even the services sector, traditionally the economy\u2019s growth anchor, has shown visible moderation.\nELEVATED INFLATION\nAt the same time, inflationary pressures remain elevated.\nConsumer prices continue to erode household purchasing power, particularly among lower-income Filipinos already burdened by food and transport costs. More concerning are the inflation forecasts themselves. Following the elevated April inflation print of 7.2%, well above the Bangko Sentral ng Pilipinas\u2019 target range, inflation is now projected to average 6.3% in 2026 and 4.3% in 2027, both significantly above target.\nThe upside risks are equally troubling: geopolitical tensions involving Iran, Israel, and the United States; uncertainties surrounding the Strait of Hormuz; the threat of El Ni\u00f1o to domestic food supply; second-round effects on transport fares and wages; and the sustained weakening of the peso.\nThis is the dangerous combination that is characteristic of stagflation: slowing growth accompanied by persistently high inflation.\nACCELERATING ECONOMIC VULNERABILITIES\nThe Senate\u2019s recent actions did not create these economic vulnerabilities. But they may have accelerated them by injecting another thick layer of uncertainty into an already fragile environment.\nPolitical institutions are not isolated from economic outcomes. Weak institutions create uncertainty; uncertainty weakens confidence; and weakened confidence discourages investment and economic activity.\nThe timing therefore could not be worse.\nThe country\u2019s fiscal space is already narrowing rapidly. National Government debt has exceeded 65% of GDP, while weak revenue generation continues to constrain the government\u2019s capacity to sustain aggressive infrastructure and development spending. The ongoing controversies surrounding flood control projects and public spending have also created a chilling effect within the bureaucracy, slowing implementation, and weakening capital formation.\nMeanwhile, the Philippine economy remains heavily dependent on overseas remittances and business process outsourcing or BPO revenues, both of which are vulnerable to global instability. The recent Middle East conflict therefore presents not merely a geopolitical concern but a direct economic threat to remittance flows, labor markets, and energy prices.\nThe country\u2019s energy vulnerability remains especially alarming. The Philippines remains heavily dependent on imported fossil fuel, exposing the economy to external price shocks and supply disruptions. Red alerts in the Luzon and Visayas power grids have already underscored the fragility of domestic energy supply and transmission systems.\nCONFUSION AND FRAGILITY\nUnder such conditions, what the country requires most are stable, disciplined, and credible institutions capable of reassuring markets and encouraging long-term investment.\nInstead, the Senate projected confusion, volatility, and institutional fragility.\nThe implications are not theoretical. Financial markets respond quickly to political instability. Investor confidence weakens. Currency pressures intensify. Risk premiums rise. Businesses postpone expansion decisions. Foreign investors become more cautious toward economies where institutions themselves appear unstable or politicized.\nIndeed, even international media coverage reflected those concerns. Foreign reporting described the Philippines as entering another period of political turmoil and institutional instability. What should have demonstrated democratic maturity instead projected political spectacle and constitutional uncertainty.\nFROM IDIOSYNCRATIC TO SYSTEMIC RISK\nThis is how idiosyncratic risk transforms into systemic risk.\nThe Senate may initially have believed that the controversy involved only an internal political maneuver, a leadership dispute, the protection of an ally, or an institutional turf issue. But institutions do not operate in isolation. Their actions shape perceptions regarding governance quality, rule of law, accountability, and policy stability across the entire political system.\nAnd in an economy already facing slowing growth and elevated inflation, the additional burden of institutional instability may hasten the emergence of stagflationary conditions.\nThe tragedy is that the Senate once represented the opposite. It was historically regarded as the country\u2019s last major institutional guardrail, a chamber capable of moderating political excesses, defending constitutional boundaries, and producing leaders with intellectual depth and independence.\nToday, that reputation is badly diminished.\nUltimately, the gravest damage inflicted last week was not on any political faction or branch of government. It was on the credibility and legitimacy of the Philippine Senate itself. And in weakening one of the country\u2019s most important democratic institutions, the Senate may also have deepened the economywide risks confronting the Philippines at a particularly vulnerable moment in its history.\nTo be sure, what the Philippine Senate is doing is hardly revolutionary. Yet like Saturn of old, it risks consuming the very forces it once nurtured.\n \nDiwa C. Guinigundo is the former deputy governor for the Monetary and Economics Sector, the Bangko Sentral ng Pilipinas (BSP). He served the BSP for 41 years. In 2001-2003, he was alternate executive director at the International Monetary Fund in Washington, DC. He is the senior pastor of the Fullness of Christ International Ministries in Mandaluyong.", "date_published": "2026-05-22T00:04:02+08:00", "date_modified": "2026-05-21T18:06:02+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/Senate-Impeachment-Courth-oath-philstar.jpg", "tags": [ "Diwa C. Guinigundo", "Signs And Wonders", "Editors' Picks", "Opinion" ] }, { "id": "/?p=751239", "url": "/opinion/2026/05/22/751239/all-about-that-grid/", "title": "All about that grid", "content_html": "Last week saw several reports about power \u2014 in the realms of both politics and physics \u2014 filling primetime news and dominating the front pages of broadsheets. I leave the matter of politics to those who are more adept with its dynamics.
\nOn the electrical power system, as of this writing, we continue to monitor the issuances of red and yellow alerts over Luzon and the Visayas by the National Grid Corp. of the Philippines (NGCP) signaling sufficiency or insufficiency of supply and reserves to meet system demand. This follows the tripping of critical transmission lines in south Luzon resulting in a loss of around 2,500 megawatts (MW) of capacity which then triggered widespread power interruptions on the main island. In a statement released on May 15, the Department of Energy (DoE) said that it has mobilized the Grid Reliability Task Force to conduct a full investigation of the incident and required the NGCP to provide full disclosure of operational data, incident reports, and technical findings for a comprehensive assessment of the event.
\nQuite fortuitously, earlier this week, it was also reported that the Energy Regulatory Commission (ERC) partially granted a motion for reconsideration by the NGCP for an upward adjustment of the regulated entity\u2019s revenue cap for the 5th regulatory period covering 2023-2027. According to the Order, promulgated on May 15, the Commission modified its earlier Final Determination, dated Jan. 9, and adjusted the NGCP\u2019s Maximum Allowable Revenue (MAR) for the said period from P374.981 billion to P378.711 billion, or an Annual Revenue Requirement (ARR) ranging from P63.659 billion for 2023 to P89.982 billion for 2027. This will later be translated to transmission rates on peso/kW or peso/kWh basis to be collected from consumers starting in the October 2026 billing.
\nIt is against this backdrop that we discuss the highlights of the Discussion Paper prepared by Dr. Adoracion Navarro of the Philippine Institute for Development Studies (PIDS), entitled, \u201cThe Need for Power Transmission Sector Reforms in the Philippines.\u201d
\nThe study was part of the January 2026 publication by PIDS (the full copy is available on its website) and presented in a webinar on May 14 \u2014 yes, fortuitously scheduled as well \u2014 for which I was invited to provide some reaction and inputs. The copy of the presentation is available at https://pids.gov.ph/CDN/document/Navarro_0514.pdf.
\nKEY FUNDAMENTALS
\nWe often hear the phrase \u201cthere is no transition without transmission,\u201d and assume this to mean that the grid just needs to continue expanding to meet the requirements of the energy transition. This is why I found it refreshing that Dr. Navarro took the time to discuss the history of the Philippine power sector in her study. It frames quite astutely the fact that, to a great extent, what we still have is a grid that existed prior to the reforms introduced by the Electric Power Industry Reform Act (EPIRA) of 2001.
While it is true that there have been expansions to the network, including the most important Mindanao-Visayas Interconnection Project, the grid remains a highly centralized network designed to operate with large power generation units, including the large renewable energy (RE) plants built and operated pre-EPIRA by the National Power Corp. and its independent power producers (IPPs). The question then that must be asked and perhaps addressed in a joint technical-economic study: given the direction the DoE has taken on increasing supply from RE and indigenous resources to wean us away from dependence on imported fuels, what revisions are needed in: a.) the grid\u2019s design to most efficiently serve variably-sized RE plants located in multiple far-flung sites, and b.) the operation of a power system with high-and-dispersed RE penetration?
\nDr. Navarro\u2019s paper is also most helpful in dedicating a chapter discussing the economic principles governing the transmission industry. Given the tendency for political discussions to veer towards forcing competition in the transmission and distribution sectors via the issuance of parallel franchises over the same area, Dr. Navarro\u2019s study serves as a good reminder as to why the transmission of electricity is known as a natural monopoly: it is one \u201ccharacterized by high fixed costs, economies of scale, and network externalities. In liberalized electricity markets, transmission plays a critical coordinating role by enabling competition in generation and supply while remaining subject to economic regulation\u2026 Transmision investments are typically large, lumpy and irreversible\u2026\u201d
\nAs a natural monopoly, the success then of the transmission sector in the grand scheme of a power system rests in several factors beyond competition.
\nPERSISTENT ISSUES
\nDr. Navarro identified seven issues that continue to beset the sector in the Philippines: project delays; regulatory concerns; right-of-way concerns; grid reliability (including reserves and ancillary services); coordination and institutional frictions; ownership and national security concerns; and transmission capacity and congestion. I agree with the assessment of these issues and would just highlight the following points on three matters:
1. On project delays and transmission congestion. Dr. Navarro noted that although the ERC had imposed penalties on NGCP for certain project delays, \u201ccritics argue that the economic costs of delayed investments \u2014 such as congestion, reliability issues, and foregone access to cheaper generation \u2014 are substantial and often underestimated.\u201d
\nIndeed, penalties cannot approximate the economic costs of delays in transmission projects. In the ERC\u2019s evaluation of the NGCP\u2019s application for approval of transmission projects, the economic analysis actually includes an estimate of the expected amount of energy not being served (EENS) to consumers, in the absence of the project, resulting from capacity shortages or unexpected power outages for the period considered, which is usually 15 years given the planning horizon for transmission assets. For example, in the ERC\u2019s Order approving the Balaoan-Laoag 500-kilovolt (kV) Transmission Project (ERC Case No. 2021-003RC, promulgated on Nov. 26, 2024), the Commission computed the EENS for 15 years at 13,079,227,930 kilowatt/hour (kWh). Translating this in monetary terms using P18.75/kWh as the Cost of Alternative Energy Sources (CAES) \u2014 usually benchmarked to the cost of diesel fuel in the area to be served by the project at the time of evaluation \u2014 the ERC estimated P99.813 billion to be the cost to consumers over the 15 year period resulting from the absence of this one project alone. The potential revenue loss to generators, on the other hand, was estimated at P50.320 billion for the same period. Given the magnitude of these amounts and the maximum penalty of P50 million for each violation that ERC may impose, it is reasonable to expect the penalties will always fall short of the actual cost of delay.
\nThe impact gets more magnified when delays affect interconnector projects and or result in line congestion.
\nDr. Navarro correctly points out that \u201c[w]hen transmission capacity is not available on time, lower-cost or cleaner generation gets curtailed, forcing the system to rely on more expensive alternatives. Congestion is especially acute in fast-growing load centers (such as cities in the Visayas), where demand growth has outpaced transmission upgrades. These constraints not only increase system costs but also undermine broader policy objectives related to system security and decarbonization.\u201d
\nOne can simply monitor the average prices at the wholesale electricity spot market (WESM) daily to verify the disparity in prices in Luzon, Visayas, and Mindanao that can largely be attributed to congestion: to illustrate, for May 19, the Load Weighted Average Price (LWAP) for the system was P7.32/kWh. For Luzon, however, the LWAP was P3.90/kWh, while it stood at P20.21/kWh for the Visayas and P11.05/kWh for Mindanao.
\n2. On regulatory concerns. Dr. Navarro also explains the rationale behind the shift from the return-on-rate-base (RORB) methodology to the performance-based review (PBR) regime that currently governs the transmission and distribution sectors pursuant to EPIRA. The economic theory behind the adoption of PBR is to link the revenues of the regulated entity to outcomes to reduce the need for heavy-handed regulation. However, she observes, \u201c\u2026for reasons still insufficiently addressed in public discourse, the ERC was unable to conduct on time the regulatory reset for 2016 to 2020 (the Fourth Regulatory Period or 4th RP). This delay is inappropriate because PBR is designed to be forward-looking, relying on forecasts to establish rates before the start of each regulatory period. As a result, transmission rates for the 4th RP were not determined as scheduled and the NGCP was allowed to operate using the wheeling charges set during the 3rd RP\u2026\u201d
\nWhile the laudable intention behind the shift from RORB methodology to PBR cannot be disputed, we must also confront our scorecard for success, so to speak, in implementing a regulatory regime observed in many developed countries with stronger governance and enforcement institutions. Our experience with PBR or incentives-based methodology in the power sector, for instance, has been ad hoc and improvisational, at best.
\nI find merit in Dr. Navarro\u2019s proposal to adopt what she calls a \u201chybrid approach\u201d that offers a more balanced policy option. This, to my mind, allows us to still benefit from the decades of experience and jurisprudence on the RORB methodology while also developing the discipline needed among regulators and stakeholders alike for an effective incentives-based regime. For this hybrid approach, particularly for capital expenditures, Dr. Navarro suggests one \u201cwhere capital expenditures are provisionally included to support financing but only fully recognized for depreciation and return upon commissioning… International experience in liberalized markets suggests that such hybrid designs can better align investment incentives with consumer protection (e.g., \u2018split CAPEX\u2019 method in the UK)\u2026\u201d This, of course, does not do away with ensuring that the Commission is well-capacitated to perform its job not only to make timely approvals but, perhaps more importantly, in following through on monitoring and regular validation of project completion and rate adjustments, particularly in case of unjustified project delays.
\n3. On coordination among institutions and grid reliability. The DoE\u2019s push for large capacity-RE projects through the Green Energy Auction Program (GEAP) and its recent policy on energy storage solutions make coordination and alignment among the ERC, the DoE and the NGCP more crucial than ever. As clearly articulated in Dr. Navarro\u2019s study:
\n\u201cIn theory, flexibility options such as energy storage, demand response, and increased interconnection can interact with transmission investment decisions. These options may reduce the need for certain transmission projects, but they also alter the risk-return profile of network investments. Well-designed market and regulatory institutions therefore are essential to ensure that transmission expansion keeps pace with system needs without imposing excessive costs on consumers.
\n\u201cIn the Philippine context, these theoretical concerns are evident. Transmission expansion is planned through long-term Transmission Development Plans [TDP]. But implementation faces uncertainty arising from fluctuating demand projections, delays in generation projects, rights-of-way issues, and evolving energy policies. These risks shape the incentives of the NGCP\u2026and influence the timing and scale of investments.\u201d
\nAlignment of generation and transmission projects was the focus of the modeling done for the study initiated in 2018 by the DoE, with the support of the US National Renewable Energy Laboratories (NREL), and completed in 2020 identifying what are now known as the Competitive RE Zones (CREZ) all over the country. The CREZ report already highlighted what it called the \u201ctimescale misalignment\u201d: while it takes around two to three years only to construct a wind or solar project, it would typically take around 10-20 years to build a transmission project if factors such as ROW acquisition and regulatory delays are not addressed.
\nWe also have today what we can call \u201cproject siting misalignment\u201d: while the NGCP reports that there is currently 10 gigawatts of capacity available in the grid for generator connections, the location of these connection points may not be in the areas where RE projects awarded under the GEAP would connect, unless the TDP is aligned with the CREZ report, and the CREZ report is aligned with the GEAP design.
\nWhen project siting misalignment persists and close coordination is lacking in long-term planning between transmission and generation, we cannot have a grid that is optimally designed for cost-effective service delivery and reliability.
\nINCREASED COMPLEXITY
\nThe recent grid incident in Luzon and the series of red and yellow alerts are just the latest of what we may consider as distress signals from the system itself to adopt certain reforms. As the generation profile is reconfigured with significant RE capacity, we must ensure that this actually results in improved energy security by reducing dependence on imported fuel and increasing system reliability. This means the transmission infrastructure and system operation will need to be adjusted accordingly.
This will not be easy, nor will it come without deliberate design. \u201cThe evolution of ancillary services procurement and reserve markets highlights the importance of institutional adaptability, but it also underscores the need to carefully manage cost pass-through to consumers,\u201d Dr. Navarro observes. \u201cAs grid complexity increases, regulatory frameworks must ensure reliability while maintaining transparency and accountability in cost recovery.\u201d
\n\n
Monalisa C. Dimalanta is a senior partner at Puyat Jacinto & Santos Law (PJS Law). She was the chairperson and CEO of the Energy Regulatory Commission from 2022 to 2025, and chairperson of the National Renewable Energy Board from 2019 to 2021.
\n", "content_text": "Last week saw several reports about power \u2014 in the realms of both politics and physics \u2014 filling primetime news and dominating the front pages of broadsheets. I leave the matter of politics to those who are more adept with its dynamics.\nOn the electrical power system, as of this writing, we continue to monitor the issuances of red and yellow alerts over Luzon and the Visayas by the National Grid Corp. of the Philippines (NGCP) signaling sufficiency or insufficiency of supply and reserves to meet system demand. This follows the tripping of critical transmission lines in south Luzon resulting in a loss of around 2,500 megawatts (MW) of capacity which then triggered widespread power interruptions on the main island. In a statement released on May 15, the Department of Energy (DoE) said that it has mobilized the Grid Reliability Task Force to conduct a full investigation of the incident and required the NGCP to provide full disclosure of operational data, incident reports, and technical findings for a comprehensive assessment of the event.\nQuite fortuitously, earlier this week, it was also reported that the Energy Regulatory Commission (ERC) partially granted a motion for reconsideration by the NGCP for an upward adjustment of the regulated entity\u2019s revenue cap for the 5th regulatory period covering 2023-2027. According to the Order, promulgated on May 15, the Commission modified its earlier Final Determination, dated Jan. 9, and adjusted the NGCP\u2019s Maximum Allowable Revenue (MAR) for the said period from P374.981 billion to P378.711 billion, or an Annual Revenue Requirement (ARR) ranging from P63.659 billion for 2023 to P89.982 billion for 2027. This will later be translated to transmission rates on peso/kW or peso/kWh basis to be collected from consumers starting in the October 2026 billing.\nIt is against this backdrop that we discuss the highlights of the Discussion Paper prepared by Dr. Adoracion Navarro of the Philippine Institute for Development Studies (PIDS), entitled, \u201cThe Need for Power Transmission Sector Reforms in the Philippines.\u201d \nThe study was part of the January 2026 publication by PIDS (the full copy is available on its website) and presented in a webinar on May 14 \u2014 yes, fortuitously scheduled as well \u2014 for which I was invited to provide some reaction and inputs. The copy of the presentation is available at https://pids.gov.ph/CDN/document/Navarro_0514.pdf.\nKEY FUNDAMENTALS\nWe often hear the phrase \u201cthere is no transition without transmission,\u201d and assume this to mean that the grid just needs to continue expanding to meet the requirements of the energy transition. This is why I found it refreshing that Dr. Navarro took the time to discuss the history of the Philippine power sector in her study. It frames quite astutely the fact that, to a great extent, what we still have is a grid that existed prior to the reforms introduced by the Electric Power Industry Reform Act (EPIRA) of 2001.\nWhile it is true that there have been expansions to the network, including the most important Mindanao-Visayas Interconnection Project, the grid remains a highly centralized network designed to operate with large power generation units, including the large renewable energy (RE) plants built and operated pre-EPIRA by the National Power Corp. and its independent power producers (IPPs). The question then that must be asked and perhaps addressed in a joint technical-economic study: given the direction the DoE has taken on increasing supply from RE and indigenous resources to wean us away from dependence on imported fuels, what revisions are needed in: a.) the grid\u2019s design to most efficiently serve variably-sized RE plants located in multiple far-flung sites, and b.) the operation of a power system with high-and-dispersed RE penetration?\nDr. Navarro\u2019s paper is also most helpful in dedicating a chapter discussing the economic principles governing the transmission industry. Given the tendency for political discussions to veer towards forcing competition in the transmission and distribution sectors via the issuance of parallel franchises over the same area, Dr. Navarro\u2019s study serves as a good reminder as to why the transmission of electricity is known as a natural monopoly: it is one \u201ccharacterized by high fixed costs, economies of scale, and network externalities. In liberalized electricity markets, transmission plays a critical coordinating role by enabling competition in generation and supply while remaining subject to economic regulation\u2026 Transmision investments are typically large, lumpy and irreversible\u2026\u201d\nAs a natural monopoly, the success then of the transmission sector in the grand scheme of a power system rests in several factors beyond competition.\nPERSISTENT ISSUES\nDr. Navarro identified seven issues that continue to beset the sector in the Philippines: project delays; regulatory concerns; right-of-way concerns; grid reliability (including reserves and ancillary services); coordination and institutional frictions; ownership and national security concerns; and transmission capacity and congestion. I agree with the assessment of these issues and would just highlight the following points on three matters:\n1. On project delays and transmission congestion. Dr. Navarro noted that although the ERC had imposed penalties on NGCP for certain project delays, \u201ccritics argue that the economic costs of delayed investments \u2014 such as congestion, reliability issues, and foregone access to cheaper generation \u2014 are substantial and often underestimated.\u201d\nIndeed, penalties cannot approximate the economic costs of delays in transmission projects. In the ERC\u2019s evaluation of the NGCP\u2019s application for approval of transmission projects, the economic analysis actually includes an estimate of the expected amount of energy not being served (EENS) to consumers, in the absence of the project, resulting from capacity shortages or unexpected power outages for the period considered, which is usually 15 years given the planning horizon for transmission assets. For example, in the ERC\u2019s Order approving the Balaoan-Laoag 500-kilovolt (kV) Transmission Project (ERC Case No. 2021-003RC, promulgated on Nov. 26, 2024), the Commission computed the EENS for 15 years at 13,079,227,930 kilowatt/hour (kWh). Translating this in monetary terms using P18.75/kWh as the Cost of Alternative Energy Sources (CAES) \u2014 usually benchmarked to the cost of diesel fuel in the area to be served by the project at the time of evaluation \u2014 the ERC estimated P99.813 billion to be the cost to consumers over the 15 year period resulting from the absence of this one project alone. The potential revenue loss to generators, on the other hand, was estimated at P50.320 billion for the same period. Given the magnitude of these amounts and the maximum penalty of P50 million for each violation that ERC may impose, it is reasonable to expect the penalties will always fall short of the actual cost of delay.\nThe impact gets more magnified when delays affect interconnector projects and or result in line congestion.\nDr. Navarro correctly points out that \u201c[w]hen transmission capacity is not available on time, lower-cost or cleaner generation gets curtailed, forcing the system to rely on more expensive alternatives. Congestion is especially acute in fast-growing load centers (such as cities in the Visayas), where demand growth has outpaced transmission upgrades. These constraints not only increase system costs but also undermine broader policy objectives related to system security and decarbonization.\u201d\nOne can simply monitor the average prices at the wholesale electricity spot market (WESM) daily to verify the disparity in prices in Luzon, Visayas, and Mindanao that can largely be attributed to congestion: to illustrate, for May 19, the Load Weighted Average Price (LWAP) for the system was P7.32/kWh. For Luzon, however, the LWAP was P3.90/kWh, while it stood at P20.21/kWh for the Visayas and P11.05/kWh for Mindanao.\n2. On regulatory concerns. Dr. Navarro also explains the rationale behind the shift from the return-on-rate-base (RORB) methodology to the performance-based review (PBR) regime that currently governs the transmission and distribution sectors pursuant to EPIRA. The economic theory behind the adoption of PBR is to link the revenues of the regulated entity to outcomes to reduce the need for heavy-handed regulation. However, she observes, \u201c\u2026for reasons still insufficiently addressed in public discourse, the ERC was unable to conduct on time the regulatory reset for 2016 to 2020 (the Fourth Regulatory Period or 4th RP). This delay is inappropriate because PBR is designed to be forward-looking, relying on forecasts to establish rates before the start of each regulatory period. As a result, transmission rates for the 4th RP were not determined as scheduled and the NGCP was allowed to operate using the wheeling charges set during the 3rd RP\u2026\u201d\nWhile the laudable intention behind the shift from RORB methodology to PBR cannot be disputed, we must also confront our scorecard for success, so to speak, in implementing a regulatory regime observed in many developed countries with stronger governance and enforcement institutions. Our experience with PBR or incentives-based methodology in the power sector, for instance, has been ad hoc and improvisational, at best.\nI find merit in Dr. Navarro\u2019s proposal to adopt what she calls a \u201chybrid approach\u201d that offers a more balanced policy option. This, to my mind, allows us to still benefit from the decades of experience and jurisprudence on the RORB methodology while also developing the discipline needed among regulators and stakeholders alike for an effective incentives-based regime. For this hybrid approach, particularly for capital expenditures, Dr. Navarro suggests one \u201cwhere capital expenditures are provisionally included to support financing but only fully recognized for depreciation and return upon commissioning… International experience in liberalized markets suggests that such hybrid designs can better align investment incentives with consumer protection (e.g., \u2018split CAPEX\u2019 method in the UK)\u2026\u201d This, of course, does not do away with ensuring that the Commission is well-capacitated to perform its job not only to make timely approvals but, perhaps more importantly, in following through on monitoring and regular validation of project completion and rate adjustments, particularly in case of unjustified project delays.\n3. On coordination among institutions and grid reliability. The DoE\u2019s push for large capacity-RE projects through the Green Energy Auction Program (GEAP) and its recent policy on energy storage solutions make coordination and alignment among the ERC, the DoE and the NGCP more crucial than ever. As clearly articulated in Dr. Navarro\u2019s study:\n\u201cIn theory, flexibility options such as energy storage, demand response, and increased interconnection can interact with transmission investment decisions. These options may reduce the need for certain transmission projects, but they also alter the risk-return profile of network investments. Well-designed market and regulatory institutions therefore are essential to ensure that transmission expansion keeps pace with system needs without imposing excessive costs on consumers.\n\u201cIn the Philippine context, these theoretical concerns are evident. Transmission expansion is planned through long-term Transmission Development Plans [TDP]. But implementation faces uncertainty arising from fluctuating demand projections, delays in generation projects, rights-of-way issues, and evolving energy policies. These risks shape the incentives of the NGCP\u2026and influence the timing and scale of investments.\u201d\nAlignment of generation and transmission projects was the focus of the modeling done for the study initiated in 2018 by the DoE, with the support of the US National Renewable Energy Laboratories (NREL), and completed in 2020 identifying what are now known as the Competitive RE Zones (CREZ) all over the country. The CREZ report already highlighted what it called the \u201ctimescale misalignment\u201d: while it takes around two to three years only to construct a wind or solar project, it would typically take around 10-20 years to build a transmission project if factors such as ROW acquisition and regulatory delays are not addressed.\nWe also have today what we can call \u201cproject siting misalignment\u201d: while the NGCP reports that there is currently 10 gigawatts of capacity available in the grid for generator connections, the location of these connection points may not be in the areas where RE projects awarded under the GEAP would connect, unless the TDP is aligned with the CREZ report, and the CREZ report is aligned with the GEAP design.\nWhen project siting misalignment persists and close coordination is lacking in long-term planning between transmission and generation, we cannot have a grid that is optimally designed for cost-effective service delivery and reliability.\nINCREASED COMPLEXITY\nThe recent grid incident in Luzon and the series of red and yellow alerts are just the latest of what we may consider as distress signals from the system itself to adopt certain reforms. As the generation profile is reconfigured with significant RE capacity, we must ensure that this actually results in improved energy security by reducing dependence on imported fuel and increasing system reliability. This means the transmission infrastructure and system operation will need to be adjusted accordingly.\nThis will not be easy, nor will it come without deliberate design. \u201cThe evolution of ancillary services procurement and reserve markets highlights the importance of institutional adaptability, but it also underscores the need to carefully manage cost pass-through to consumers,\u201d Dr. Navarro observes. \u201cAs grid complexity increases, regulatory frameworks must ensure reliability while maintaining transparency and accountability in cost recovery.\u201d\n \nMonalisa C. Dimalanta is a senior partner at Puyat Jacinto & Santos Law (PJS Law). She was the chairperson and CEO of the Energy Regulatory Commission from 2022 to 2025, and chairperson of the National Renewable Energy Board from 2019 to 2021.", "date_published": "2026-05-22T00:03:02+08:00", "date_modified": "2026-05-21T18:05:27+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/electricity-power-grid.jpg", "tags": [ "Monalisa C. Dimalanta", "The Law Of All Progress", "Editors' Picks", "Opinion" ] }, { "id": "/?p=751283", "url": "/labor-and-management/2026/05/22/751283/worker-disengagement-seen-eroding-productivity/", "title": "Worker disengagement seen eroding productivity", "content_html": "NEARLY NINE in 10 employers in the Philippines are reporting declining productivity tied to employee disengagement, according to global talent solutions firm Robert Walters.
\nIn a statement on Thursday, the recruitment consultancy said 89% of hiring managers surveyed in the Philippines identified employee disengagement as a major factor affecting workplace productivity and team dynamics.
\nThe phenomenon, known as \u201cquiet cracking,\u201d involves employees continuing to fulfil their responsibilities while internally feeling disengaged, demotivated, or emotionally strained.
\nAccording to the survey findings, released alongside the Robert Walters Talent Trends 2026 report, more than 38% of Filipino professionals said they experience quiet cracking \u201cvery often,\u201d while nearly one in four said they encounter it occasionally.
\nJosua T. Mata, secretary-general of labor group Sentro ng mga Nagkakaisa at Progresibong Manggagawa, told 大象传媒 that worker disengagement is often the result of accumulated frustration, burnout, and loss of hope rather than a sudden decline in motivation.
\n\u201cWorkers are not \u2018quiet cracking\u2019 because they suddenly lost motivation. Many are simply exhausted from low wages, insecure jobs, overwork, toxic workplace and the erosion of work-life balance,\u201d Mr. Mata said via Viber.
\n\u201cYou cannot expect workers to remain fully engaged when they are constantly anxious about survival while being asked to do more with less,\u201d he said.
\nEmployers seeking long-term employee engagement should go beyond workplace wellness campaigns and address issues such as living wages, job security, manageable workloads, and respect for workers\u2019 dignity and rights, he added.
\nKimberlyn Lu, chief executive officer at Robert Walters Southeast Asia, said in the statement that disengagement often goes unnoticed because employees may still appear productive despite dealing with prolonged pressure and uncertainty.
\n\u201cIf left unaddressed, these issues can erode productivity, lower morale, and lead to higher turnover rates. Employers should be proactive in identifying early signs and fostering an environment where employees feel supported,\u201d she said.
\nThe study also found that 47% of Philippine employers are recognizing employee achievements to improve morale, while 42% are conducting regular feedback sessions to strengthen engagement within teams.
\nRobert Walters cited a 2025 Gallup report estimating that declining global employee engagement resulted in about $438 billion in lost productivity in 2024.
\nThe company said workplace disengagement is evolving into what it described as an \u201cengagement recession,\u201d where reduced motivation spreads across teams and weakens collaboration, creativity, and workplace culture.
\nAmong Filipino workers surveyed, 40% identified distracted behavior and lack of focus as the most common signs of disengagement, while 33% pointed to reduced collaboration and 20% cited low participation during meetings.
\nThe report also examined factors affecting employee retentions, with 54% of respondents saying career growth opportunities were the main reason for staying with an employer.
\nFlexible work arrangements were cited by 32%, while 15% said inclusive workplace culture was their priority.
\nMeanwhile, 56% of professionals said they preferred transformational leadership styles that encourage change and innovation, while 34% favored leaders who provide greater autonomy in the workplace.
\nRobert Walters said companies may need to strengthen communication, career development programs, and workplace flexibility to prevent disengagement from affecting productivity and employee retention further. \u2014 Erika Mae P. Sinaking
\n", "content_text": "NEARLY NINE in 10 employers in the Philippines are reporting declining productivity tied to employee disengagement, according to global talent solutions firm Robert Walters.\nIn a statement on Thursday, the recruitment consultancy said 89% of hiring managers surveyed in the Philippines identified employee disengagement as a major factor affecting workplace productivity and team dynamics.\nThe phenomenon, known as \u201cquiet cracking,\u201d involves employees continuing to fulfil their responsibilities while internally feeling disengaged, demotivated, or emotionally strained.\nAccording to the survey findings, released alongside the Robert Walters Talent Trends 2026 report, more than 38% of Filipino professionals said they experience quiet cracking \u201cvery often,\u201d while nearly one in four said they encounter it occasionally.\nJosua T. Mata, secretary-general of labor group Sentro ng mga Nagkakaisa at Progresibong Manggagawa, told 大象传媒 that worker disengagement is often the result of accumulated frustration, burnout, and loss of hope rather than a sudden decline in motivation.\n\u201cWorkers are not \u2018quiet cracking\u2019 because they suddenly lost motivation. Many are simply exhausted from low wages, insecure jobs, overwork, toxic workplace and the erosion of work-life balance,\u201d Mr. Mata said via Viber.\n\u201cYou cannot expect workers to remain fully engaged when they are constantly anxious about survival while being asked to do more with less,\u201d he said.\nEmployers seeking long-term employee engagement should go beyond workplace wellness campaigns and address issues such as living wages, job security, manageable workloads, and respect for workers\u2019 dignity and rights, he added.\nKimberlyn Lu, chief executive officer at Robert Walters Southeast Asia, said in the statement that disengagement often goes unnoticed because employees may still appear productive despite dealing with prolonged pressure and uncertainty.\n\u201cIf left unaddressed, these issues can erode productivity, lower morale, and lead to higher turnover rates. Employers should be proactive in identifying early signs and fostering an environment where employees feel supported,\u201d she said.\nThe study also found that 47% of Philippine employers are recognizing employee achievements to improve morale, while 42% are conducting regular feedback sessions to strengthen engagement within teams.\nRobert Walters cited a 2025 Gallup report estimating that declining global employee engagement resulted in about $438 billion in lost productivity in 2024.\nThe company said workplace disengagement is evolving into what it described as an \u201cengagement recession,\u201d where reduced motivation spreads across teams and weakens collaboration, creativity, and workplace culture.\nAmong Filipino workers surveyed, 40% identified distracted behavior and lack of focus as the most common signs of disengagement, while 33% pointed to reduced collaboration and 20% cited low participation during meetings.\nThe report also examined factors affecting employee retentions, with 54% of respondents saying career growth opportunities were the main reason for staying with an employer.\nFlexible work arrangements were cited by 32%, while 15% said inclusive workplace culture was their priority.\nMeanwhile, 56% of professionals said they preferred transformational leadership styles that encourage change and innovation, while 34% favored leaders who provide greater autonomy in the workplace.\nRobert Walters said companies may need to strengthen communication, career development programs, and workplace flexibility to prevent disengagement from affecting productivity and employee retention further. \u2014 Erika Mae P. Sinaking", "date_published": "2026-05-22T00:02:06+08:00", "date_modified": "2026-05-21T20:14:03+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2022/05/women-stressed.jpg", "tags": [ "Erika Mae P. Sinaking", "Editors' Picks", "Labor and Management" ] }, { "id": "/?p=751282", "url": "/labor-and-management/2026/05/22/751282/pirating-an-executive-from-a-sister-firm/", "title": "Pirating an executive from a sister firm", "content_html": "I\u2019m planning to hire a junior executive within our conglomerate. My idea is to promote him as a manager or one rank higher from his original post. What do you think of this plan? \u2014 Gray Tower.
\nPromoting someone from within, whether the person comes from the same organization or within the group of companies is an excellent idea. In today\u2019s so-called \u201cwar for talent,\u201d some companies have gone from head-hunting to hijacking. The battlefield has expanded to include not just competitors, but even companies under the same corporate umbrella.
\nIt\u2019s like raiding your cousin\u2019s refrigerator for the last slice of cake. Technically, it\u2019s family property \u2014 but still bad manners. So, the burning question is: Is it advisable to pirate an executive from a sister company?
\nRecruiting talent from within your conglomerate can be a smart move \u2014 but only if handled with transparency and tact. Otherwise, you could create animosity to make your next conglomerate convention feel like a family reunion gone wrong.
\nBut first, better to ask your boss for approval and support. If he agrees, then go ahead talk to the boss of your candidate. Or maybe, your boss can do it for you.
\nRISKS
\nIndeed, it\u2019s tempting to pirate someone within the group of companies. They\u2019re already familiar with the corporate culture, its policies, systems, buzzwords, and acronyms. Training time? Practically zero. Risk of cultural mismatch? Minimal. But convenience doesn\u2019t always mean correctness. Here\u2019s why:
One, legal and contractual obligations. Some organizations have agreements that include non-piracy clauses, even among affiliates. That\u2019s why you must secure the permission of one\u2019s boss.
\nEven without it, the executive\u2019s employment contract might include a non-compete or conflict-of-interest provision.
\nTwo, breach of trust. In business, trust is the invisible glue that holds everything together. Pirating talent from an affiliate without transparency can feel like betrayal. If you break that trust, you may not be able to recover your partnership with people.
\nAnd your affiliate may perceive your move as an act of war rather than collaboration.
\nThree, reputational damage. The corporate world has sharp ears and long memories. Once you earn a bad reputation as a \u201cpirate,\u201d other leaders may become cautious around you. They\u2019ll lock their best people in metaphorical vaults.
\nWhen you need cross-functional support in future projects, expect a cold shoulder and longer e-mail response times, if ever they take the time to reply.
\nSMARTER ROUTE
\nInstead of outright poaching, consider collaborative talent-sharing arrangements. If you truly believe that executive talent from an affiliate can make a significant impact, there are cleaner, smarter, and win-win solutions to go about it.
Here are the things you can do simultaneously:
\nOne, limited secondment. It could be four to six months \u2014 even longer. This is beneficial to both sides. The \u201cpirated\u201d executive gains new challenges, exposure, and skills, while his original employer retains the relationship.
\nTwo, mentoring project. This means assigning the executive to create a training program for the young guns of the \u201cpirate\u201d organization. To entice the executive, offer a monthly allowance while continuing his current pay and benefits from his employer.
\nThree, exchange program. Initiate an internal job program that allows employees within the conglomerate to undergo a corporate Rigodon de Honor, a formal rotational exchange among affiliates. This is for faster career mobility for those with high potential.
\nHONOR
\nGood leaders don\u2019t just win the war for talent \u2014 they win it honorably. Leadership isn\u2019t about collecting the best people by any means. It\u2019s about building a system that attract talent naturally from everywhere.
If your culture is strong, people will come to you without being lured with a golden handshake. But if your only way to fill key roles is to \u201cpirate\u201d from affiliates, it may be time to check your ship\u2019s condition. Maybe it\u2019s not a talent shortage. It could be that you\u2019re not doing enough to train your people so they become promotable.
\nAfter all, piracy, even when successful, rarely earns applause. Collaboration and transparency in creating a dynamic management development program gives you stronger, more sustainable organizations.
\nIn the modern talent marketplace, companies are learning that the real competitive advantage isn\u2019t in stealing good people \u2014 it\u2019s in developing them. If you need a rare talent, then create one. Mentor a rising star. Cultivate your own people. It\u2019s better to be known as a talent builder than a talent pirate.
\n\n
Consult Rey Elbo for free insights on people management. Send your question or story to elbonomics@gmail.com or\u00a0DM him on Facebook, LinkedIn, X or\u00a0https://reyelbo.com.
\n", "content_text": "I\u2019m planning to hire a junior executive within our conglomerate. My idea is to promote him as a manager or one rank higher from his original post. What do you think of this plan? \u2014 Gray Tower.\nPromoting someone from within, whether the person comes from the same organization or within the group of companies is an excellent idea. In today\u2019s so-called \u201cwar for talent,\u201d some companies have gone from head-hunting to hijacking. The battlefield has expanded to include not just competitors, but even companies under the same corporate umbrella.\nIt\u2019s like raiding your cousin\u2019s refrigerator for the last slice of cake. Technically, it\u2019s family property \u2014 but still bad manners. So, the burning question is: Is it advisable to pirate an executive from a sister company?\nRecruiting talent from within your conglomerate can be a smart move \u2014 but only if handled with transparency and tact. Otherwise, you could create animosity to make your next conglomerate convention feel like a family reunion gone wrong.\nBut first, better to ask your boss for approval and support. If he agrees, then go ahead talk to the boss of your candidate. Or maybe, your boss can do it for you.\nRISKS\nIndeed, it\u2019s tempting to pirate someone within the group of companies. They\u2019re already familiar with the corporate culture, its policies, systems, buzzwords, and acronyms. Training time? Practically zero. Risk of cultural mismatch? Minimal. But convenience doesn\u2019t always mean correctness. Here\u2019s why:\nOne, legal and contractual obligations. Some organizations have agreements that include non-piracy clauses, even among affiliates. That\u2019s why you must secure the permission of one\u2019s boss. \nEven without it, the executive\u2019s employment contract might include a non-compete or conflict-of-interest provision.\nTwo, breach of trust. In business, trust is the invisible glue that holds everything together. Pirating talent from an affiliate without transparency can feel like betrayal. If you break that trust, you may not be able to recover your partnership with people.\nAnd your affiliate may perceive your move as an act of war rather than collaboration.\nThree, reputational damage. The corporate world has sharp ears and long memories. Once you earn a bad reputation as a \u201cpirate,\u201d other leaders may become cautious around you. They\u2019ll lock their best people in metaphorical vaults. \nWhen you need cross-functional support in future projects, expect a cold shoulder and longer e-mail response times, if ever they take the time to reply.\nSMARTER ROUTE\nInstead of outright poaching, consider collaborative talent-sharing arrangements. If you truly believe that executive talent from an affiliate can make a significant impact, there are cleaner, smarter, and win-win solutions to go about it.\nHere are the things you can do simultaneously:\nOne, limited secondment. It could be four to six months \u2014 even longer. This is beneficial to both sides. The \u201cpirated\u201d executive gains new challenges, exposure, and skills, while his original employer retains the relationship.\nTwo, mentoring project. This means assigning the executive to create a training program for the young guns of the \u201cpirate\u201d organization. To entice the executive, offer a monthly allowance while continuing his current pay and benefits from his employer.\nThree, exchange program. Initiate an internal job program that allows employees within the conglomerate to undergo a corporate Rigodon de Honor, a formal rotational exchange among affiliates. This is for faster career mobility for those with high potential.\nHONOR\nGood leaders don\u2019t just win the war for talent \u2014 they win it honorably. Leadership isn\u2019t about collecting the best people by any means. It\u2019s about building a system that attract talent naturally from everywhere.\nIf your culture is strong, people will come to you without being lured with a golden handshake. But if your only way to fill key roles is to \u201cpirate\u201d from affiliates, it may be time to check your ship\u2019s condition. Maybe it\u2019s not a talent shortage. It could be that you\u2019re not doing enough to train your people so they become promotable.\nAfter all, piracy, even when successful, rarely earns applause. Collaboration and transparency in creating a dynamic management development program gives you stronger, more sustainable organizations.\nIn the modern talent marketplace, companies are learning that the real competitive advantage isn\u2019t in stealing good people \u2014 it\u2019s in developing them. If you need a rare talent, then create one. Mentor a rising star. Cultivate your own people. It\u2019s better to be known as a talent builder than a talent pirate.\n \nConsult Rey Elbo for free insights on people management. Send your question or story to elbonomics@gmail.com or\u00a0DM him on Facebook, LinkedIn, X or\u00a0https://reyelbo.com.", "date_published": "2026-05-22T00:01:05+08:00", "date_modified": "2026-05-21T18:43:21+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2021/04/LM-default.jpg", "tags": [ "In The Workplace", "REY ELBO", "Editors' Picks", "Labor and Management" ] }, { "id": "/?p=751383", "url": "/the-nation/2026/05/21/751383/philippines-moves-to-enforce-icc-warrant-of-arrest-on-senator-bato/", "title": "Philippines moves to enforce ICC warrant of arrest on Senator Bato", "content_html": "THE Department of Justice (DoJ) said it has ordered Philippine law enforcement agencies to arrest Senator Ronald \u201cBato\u201d M. dela Rosa and facilitate his transfer to The Hague, escalating a legal standoff tied to International Criminal Court (ICC) crimes against humanity charges.
\nJustice Secretary Fredderick A. Vida on Thursday said state authorities, including the Philippine National Police and the National Bureau of Investigation, are now mandated to enforce the arrest warrant after the senator left Senate custody.
\n\u201cSenator Bato is a fugitive from justice, and he should be brought to the ICC to face the charges,\u201d he told reporters.
\nThe directive follows a Supreme Court ruling that declined to issue a temporary restraining order that would have blocked the ICC warrant\u2019s implementation, effectively removing judicial barriers cited by the defense.
\nMr. Vida said the government had refrained from acting due to the Senate\u2019s protective custody arrangement, but that cover ended when Mr. dela Rosa, who enforced former President Rodrigo R. Duterte\u2019s deadly drug war as his national police chief, left the premises on May 14.
\nHe rejected suggestions that authorities were mounting a \u201cmanhunt,\u201d describing such terminology as unnecessary, while confirming that intelligence operations and coordination among agencies were underway.
\nLaw enforcement units have been ordered to conduct intelligence gathering, operational planning and counterintelligence work to determine the senator\u2019s location. Authorities also warned that people helping in evasion could face legal consequences.
\nAn Immigration Lookout Bulletin Order remains in effect, according to the DoJ, preventing Mr. dela Rosa from leaving the country while efforts to secure custody continue.
\nDoJ spokesman Raphael Niccolo L. Martinez said the government might also pursue an Interpol Red Notice as part of international coordination efforts.
\n\u201cThat is a remedy available to us,\u201d Mr. Martinez said, adding that a domestic hold departure order could not be issued without a pending case before a Philippine court.
\nThe DoJ maintained that enforcement of the ICC warrant aligns with the Philippines\u2019 obligations under the Rome Statute despite its withdrawal from the treaty in 2019, citing continuing legal exposure linked to alleged crimes committed while the country was still a party.
\nThe ICC has accused Mr. dela Rosa of crimes against humanity of murder as a co-perpetrator in Mr. Duterte\u2019s drug war, covering incidents between 2011 and 2019.
\nJudges of the ICC\u2019s Pre-Trial Chamber I found reasonable grounds to believe he bore responsibility for killings between July 2016 and April 2018, involving at least 32 deaths, according to the warrant summary.
\nMr. dela Rosa\u2019s legal team said it would file a motion for reconsideration and exhaust all remedies to block enforcement, arguing that the warrant lacks domestic enforceability.
\nThe Office of the Solicitor General (OSG) said the Supreme Court\u2019s denial of injunctive relief confirms there is no legal impediment to executing the arrest order.
\nIt said Mr. dela Rosa failed to show a clear and unmistakable right, an imminent violation or urgent and irreparable harm that would justify court intervention. It also noted that the Criminal Investigation and Detection Group subpoena cited in earlier filings had been withdrawn.
\nThe OSG said it is awaiting the full Supreme Court ruling to clarify remaining legal issues.
\nFamilies of drug war victims, represented by the advocacy group Rise Up for Life and Rights, urged the international community to support swift enforcement of the ICC warrant.
\nThey said their pursuit of accountability followed years of impunity and denial of justice domestically.
\n\u201cIn the interest of justice, respect for due process, and the healing of our families and communities, Senator Bato dela Rosa should be arrested and surrendered to the ICC immediately,\u201d the group said in a statement. \u2014 Erika Mae P. Sinaking
\n", "content_text": "THE Department of Justice (DoJ) said it has ordered Philippine law enforcement agencies to arrest Senator Ronald \u201cBato\u201d M. dela Rosa and facilitate his transfer to The Hague, escalating a legal standoff tied to International Criminal Court (ICC) crimes against humanity charges.\nJustice Secretary Fredderick A. Vida on Thursday said state authorities, including the Philippine National Police and the National Bureau of Investigation, are now mandated to enforce the arrest warrant after the senator left Senate custody.\n\u201cSenator Bato is a fugitive from justice, and he should be brought to the ICC to face the charges,\u201d he told reporters.\nThe directive follows a Supreme Court ruling that declined to issue a temporary restraining order that would have blocked the ICC warrant\u2019s implementation, effectively removing judicial barriers cited by the defense.\nMr. Vida said the government had refrained from acting due to the Senate\u2019s protective custody arrangement, but that cover ended when Mr. dela Rosa, who enforced former President Rodrigo R. Duterte\u2019s deadly drug war as his national police chief, left the premises on May 14.\nHe rejected suggestions that authorities were mounting a \u201cmanhunt,\u201d describing such terminology as unnecessary, while confirming that intelligence operations and coordination among agencies were underway.\nLaw enforcement units have been ordered to conduct intelligence gathering, operational planning and counterintelligence work to determine the senator\u2019s location. Authorities also warned that people helping in evasion could face legal consequences.\nAn Immigration Lookout Bulletin Order remains in effect, according to the DoJ, preventing Mr. dela Rosa from leaving the country while efforts to secure custody continue.\nDoJ spokesman Raphael Niccolo L. Martinez said the government might also pursue an Interpol Red Notice as part of international coordination efforts.\n\u201cThat is a remedy available to us,\u201d Mr. Martinez said, adding that a domestic hold departure order could not be issued without a pending case before a Philippine court.\nThe DoJ maintained that enforcement of the ICC warrant aligns with the Philippines\u2019 obligations under the Rome Statute despite its withdrawal from the treaty in 2019, citing continuing legal exposure linked to alleged crimes committed while the country was still a party.\nThe ICC has accused Mr. dela Rosa of crimes against humanity of murder as a co-perpetrator in Mr. Duterte\u2019s drug war, covering incidents between 2011 and 2019.\nJudges of the ICC\u2019s Pre-Trial Chamber I found reasonable grounds to believe he bore responsibility for killings between July 2016 and April 2018, involving at least 32 deaths, according to the warrant summary.\nMr. dela Rosa\u2019s legal team said it would file a motion for reconsideration and exhaust all remedies to block enforcement, arguing that the warrant lacks domestic enforceability.\nThe Office of the Solicitor General (OSG) said the Supreme Court\u2019s denial of injunctive relief confirms there is no legal impediment to executing the arrest order.\nIt said Mr. dela Rosa failed to show a clear and unmistakable right, an imminent violation or urgent and irreparable harm that would justify court intervention. It also noted that the Criminal Investigation and Detection Group subpoena cited in earlier filings had been withdrawn.\nThe OSG said it is awaiting the full Supreme Court ruling to clarify remaining legal issues.\nFamilies of drug war victims, represented by the advocacy group Rise Up for Life and Rights, urged the international community to support swift enforcement of the ICC warrant.\nThey said their pursuit of accountability followed years of impunity and denial of justice domestically.\n\u201cIn the interest of justice, respect for due process, and the healing of our families and communities, Senator Bato dela Rosa should be arrested and surrendered to the ICC immediately,\u201d the group said in a statement. \u2014 Erika Mae P. Sinaking", "date_published": "2026-05-21T21:11:15+08:00", "date_modified": "2026-05-21T21:11:15+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/Ronald-Dela-Rosa-.jpg", "tags": [ "Erika Mae P. Sinaking", "Editors' Picks", "The Nation" ] }, { "id": "/?p=751382", "url": "/the-nation/2026/05/21/751382/marcos-to-expand-direct-aid-if-delivery-improves/", "title": "Marcos to expand direct aid if delivery improves", "content_html": "PRESIDENT Ferdinand R. Marcos, Jr. said the government would expand direct aid to local governments and villages if implementation proves effective, as Manila pushes faster decentralization of social assistance amid inflation pressures.
\n\u201cDon\u2019t worry because this is not a one-time thing,\u201d he told fire-hit residents of Obando, Bulacan in Filipino on Thursday. \u201cWe will provide 10 kilos of rice every two months, six times a year, repeatedly.\u201d
\nAbout 2,000 residents received 10-kilo rice packs during Thursday\u2019s distribution in the province.
\nMr. Marcos said stronger coordination with local government units (LGUs) is key to improving delivery through the Local Government Support Fund (LGSF), which he said has been underused.
\n\u201cIf results are good, we will try the LGSF and the Socio-Civic Development Program for the village,\u201d he said.
\nHe added that budget allocations could be increased next year if implementation proves effective at the local level.
\n\u201cIf we are doing well and see implementation is good, I will increase the budget so we can help more people,\u201d he said.
\nUnder the Socio-Civic Development Program, each village receives P200,000, with half allocated to five presidential scholars per village, each receiving P20,000 from the Office of the President.
\nMr. Marcos said education remains a central priority of the administration\u2019s social development agenda.
\n\u201cI tell them to make good use of that funding so they can graduate,\u201d he said. \u201cWhen it\u2019s their time to become leaders\u2026 they are ready and trained.\u201d
\nHe said education is a right, not a privilege, and the government is expanding health access and nutrition programs and school-based feeding initiatives.
\nThe administration is rolling out targeted subsidies to cushion households from rising prices linked to global supply shocks, including the Middle East war. Mr. Marcos recently ordered a P50 cap on imported rice prices to ease food inflation.
\nHe also addressed the landfill fire in Obando that affected nearby communities in April, saying the blaze took more than three weeks to extinguish after spreading underground.
\nHe warned about health risks from burning plastics and said authorities would tighten monitoring of dumpsites during dry season to prevent similar incidents.
\nMr. Marcos said the administration is assessing local execution capacity to determine whether expanded transfers could be sustained across provinces, noting that stronger implementation would justify higher allocations under existing fiscal programs.
\nThe initiative forms part of a broader effort to streamline social assistance delivery by channeling funds directly through LGUs while maintaining national oversight on targeting and monitoring.
\nIt also reflects the administration\u2019s push to strengthen fiscal efficiency by reducing administrative bottlenecks that delay distribution of aid in disaster-affected and low-income communities. \u2014 Chloe Mari A. Hufana
\n", "content_text": "PRESIDENT Ferdinand R. Marcos, Jr. said the government would expand direct aid to local governments and villages if implementation proves effective, as Manila pushes faster decentralization of social assistance amid inflation pressures.\n\u201cDon\u2019t worry because this is not a one-time thing,\u201d he told fire-hit residents of Obando, Bulacan in Filipino on Thursday. \u201cWe will provide 10 kilos of rice every two months, six times a year, repeatedly.\u201d\nAbout 2,000 residents received 10-kilo rice packs during Thursday\u2019s distribution in the province.\nMr. Marcos said stronger coordination with local government units (LGUs) is key to improving delivery through the Local Government Support Fund (LGSF), which he said has been underused.\n\u201cIf results are good, we will try the LGSF and the Socio-Civic Development Program for the village,\u201d he said.\nHe added that budget allocations could be increased next year if implementation proves effective at the local level.\n\u201cIf we are doing well and see implementation is good, I will increase the budget so we can help more people,\u201d he said.\nUnder the Socio-Civic Development Program, each village receives P200,000, with half allocated to five presidential scholars per village, each receiving P20,000 from the Office of the President.\nMr. Marcos said education remains a central priority of the administration\u2019s social development agenda.\n\u201cI tell them to make good use of that funding so they can graduate,\u201d he said. \u201cWhen it\u2019s their time to become leaders\u2026 they are ready and trained.\u201d\nHe said education is a right, not a privilege, and the government is expanding health access and nutrition programs and school-based feeding initiatives.\nThe administration is rolling out targeted subsidies to cushion households from rising prices linked to global supply shocks, including the Middle East war. Mr. Marcos recently ordered a P50 cap on imported rice prices to ease food inflation.\nHe also addressed the landfill fire in Obando that affected nearby communities in April, saying the blaze took more than three weeks to extinguish after spreading underground.\nHe warned about health risks from burning plastics and said authorities would tighten monitoring of dumpsites during dry season to prevent similar incidents.\nMr. Marcos said the administration is assessing local execution capacity to determine whether expanded transfers could be sustained across provinces, noting that stronger implementation would justify higher allocations under existing fiscal programs.\nThe initiative forms part of a broader effort to streamline social assistance delivery by channeling funds directly through LGUs while maintaining national oversight on targeting and monitoring.\nIt also reflects the administration\u2019s push to strengthen fiscal efficiency by reducing administrative bottlenecks that delay distribution of aid in disaster-affected and low-income communities. \u2014 Chloe Mari A. Hufana", "date_published": "2026-05-21T21:10:59+08:00", "date_modified": "2026-05-21T21:10:59+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/04/MC-taxi-cash-aid.jpg", "tags": [ "Chloe Mari A. Hufana", "Editors' Picks", "The Nation" ] }, { "id": "/?p=751381", "url": "/the-nation/2026/05/21/751381/senate-eyes-july-6-start-of-vps-impeachment-trial/", "title": "Senate eyes July 6 start of VP\u2019s impeachment trial", "content_html": "THE SENATE is targeting July 6 for the start of the impeachment trial of Vice-President (VP) Sara Duterte-Carpio, potentially moving proceedings ahead of President Ferdinand R. Marcos, Jr.\u2019s annual address to Congress, a minority senator said on Thursday.
\nSenator Erwin T. Tulfo said the timeline was discussed during a caucus, where senators mapped out a weekly schedule for the impeachment court.
\n\u201cWe\u2019re looking at July 6, the impeachment trial may start earlier than expected, pre-SONA (State of the Nation Address),\u201d he told reporters.
\nHe said Mondays would combine regular plenary work with trial sessions, while Tuesdays and Wednesdays would be dedicated to impeachment proceedings.
\nThursdays will be reserved for committee hearings, while Fridays will be used for motions and other chamber matters unless additional hearings are required.
\n\u201cThe day off of the senators will only be Saturday and Sunday,\u201d he said.
\nMr. Tulfo said the schedule could constrain legislative work as the chamber allocates more time for the trial.
\nThe impeachment court convened on May 18, with Senate President Alan Peter S. Cayetano sitting as presiding officer.
\nThe court summoned Ms. Duterte and gave her 10 days to respond. The prosecution was given a nonextendible five-day period to reply once her response is filed.
\nThe Office of the Vice-President confirmed receipt of the summons on May 20.
\nThe House of Representatives impeached Ms. Duterte on May 11 with 257 votes, alongside 25 opposition votes and nine abstentions.
\nHouse Secretary-General Cheloy Velicaria-Garafil sent the articles of impeachment to the Senate on May 13.
\nMs. Duterte faces allegations of misuse of public funds and threats against the President, First Lady Marie Louise Araneta-Marcos and former Speaker Ferdinand Martin G. Romualdez. She has denied the charges.
\nA conviction in the Senate impeachment court would bar her permanently from holding public office.
\nMs. Duterte was previously impeached in 2025, but the Senate archived the case after a Supreme Court ruling cited the one-year bar rule on repeat impeachment filings.
\nMeanwhile, Batangas Rep. Gerville R. Luistro opposed proposals allowing online participation of senator-judges in the proceedings, saying impeachment requires full in-person attendance.
\n\u201cMy humble submission about this issue is that senator-judges must personally witness the trial and personally vote because this process is very important,\u201d she said in a statement in mixed English and Filipino.
\nThe statement came after Senator Rodante D. Marcoleta suggested that Senator Ronald M. dela Rosa could be allowed to participate and vote via Zoom if necessary.
\nMr. dela Rosa, who is known to be close to the Duterte family, had earlier taken refuge in the Senate after reports of an International Criminal Court arrest warrant linked to the previous administration\u2019s anti-drug campaign, before later returning to participate in a vote that led to a change in Senate leadership.
\nMs. Luistro stressed that senator-judges must be physically present to properly assess evidence and witness credibility.\u00a0
\n\u201cIt is very important that senator-judges personally see each witness,\u201d she said, adding that reviewing documents and video evidence requires direct scrutiny.
\n\u201cIt is difficult to leave such a critical decision based only on online voting or remote participation,\u201d she added. \u2014 Kaela Patricia B. Gabriel and Pexcel John Bacon
\n", "content_text": "THE SENATE is targeting July 6 for the start of the impeachment trial of Vice-President (VP) Sara Duterte-Carpio, potentially moving proceedings ahead of President Ferdinand R. Marcos, Jr.\u2019s annual address to Congress, a minority senator said on Thursday.\nSenator Erwin T. Tulfo said the timeline was discussed during a caucus, where senators mapped out a weekly schedule for the impeachment court.\n\u201cWe\u2019re looking at July 6, the impeachment trial may start earlier than expected, pre-SONA (State of the Nation Address),\u201d he told reporters.\nHe said Mondays would combine regular plenary work with trial sessions, while Tuesdays and Wednesdays would be dedicated to impeachment proceedings.\nThursdays will be reserved for committee hearings, while Fridays will be used for motions and other chamber matters unless additional hearings are required.\n\u201cThe day off of the senators will only be Saturday and Sunday,\u201d he said.\nMr. Tulfo said the schedule could constrain legislative work as the chamber allocates more time for the trial.\nThe impeachment court convened on May 18, with Senate President Alan Peter S. Cayetano sitting as presiding officer.\nThe court summoned Ms. Duterte and gave her 10 days to respond. The prosecution was given a nonextendible five-day period to reply once her response is filed.\nThe Office of the Vice-President confirmed receipt of the summons on May 20.\nThe House of Representatives impeached Ms. Duterte on May 11 with 257 votes, alongside 25 opposition votes and nine abstentions.\nHouse Secretary-General Cheloy Velicaria-Garafil sent the articles of impeachment to the Senate on May 13.\nMs. Duterte faces allegations of misuse of public funds and threats against the President, First Lady Marie Louise Araneta-Marcos and former Speaker Ferdinand Martin G. Romualdez. She has denied the charges.\nA conviction in the Senate impeachment court would bar her permanently from holding public office.\nMs. Duterte was previously impeached in 2025, but the Senate archived the case after a Supreme Court ruling cited the one-year bar rule on repeat impeachment filings.\nMeanwhile, Batangas Rep. Gerville R. Luistro opposed proposals allowing online participation of senator-judges in the proceedings, saying impeachment requires full in-person attendance.\n\u201cMy humble submission about this issue is that senator-judges must personally witness the trial and personally vote because this process is very important,\u201d she said in a statement in mixed English and Filipino.\nThe statement came after Senator Rodante D. Marcoleta suggested that Senator Ronald M. dela Rosa could be allowed to participate and vote via Zoom if necessary.\nMr. dela Rosa, who is known to be close to the Duterte family, had earlier taken refuge in the Senate after reports of an International Criminal Court arrest warrant linked to the previous administration\u2019s anti-drug campaign, before later returning to participate in a vote that led to a change in Senate leadership.\nMs. Luistro stressed that senator-judges must be physically present to properly assess evidence and witness credibility.\u00a0\n\u201cIt is very important that senator-judges personally see each witness,\u201d she said, adding that reviewing documents and video evidence requires direct scrutiny.\n\u201cIt is difficult to leave such a critical decision based only on online voting or remote participation,\u201d she added. \u2014 Kaela Patricia B. Gabriel and Pexcel John Bacon", "date_published": "2026-05-21T21:10:33+08:00", "date_modified": "2026-05-21T21:10:33+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2024/06/Sara-Duterte-Carpio-1.jpg", "tags": [ "Kaela Patricia B. Gabriel", "Pexcel John Bacon", "Editors' Picks", "The Nation" ] }, { "id": "/?p=751370", "url": "/economy/2026/05/21/751370/ecozone-moratorium-in-ncr-seen-curbing-locator-flexibility/", "title": "Ecozone moratorium in NCR seen curbing locator flexibility", "content_html": "By Juliana Chloe A. Gonzales
\nTHE MORATORIUM on approving new economic zones in Metro Manila is restricting the flexibility of IT and business process management (IT-BPM) companies in selecting office locations, Savills Philippines said.
\nSavills Philippines Chief Operating Officer Cha Carbonell told 大象传媒 via Viber on Thursday that while the Metro Manila office market \u201chas a headline vacancy of around 20%\u2026 once you apply the filters that creditworthy multinational corporations (MNC) and business process outsourcing (BPO) occupiers require \u2014 PEZA accreditation, green certification, business continuity plan (BCP)-grade specifications \u2014 that figure drops sharply.\u201d
\nAdministrative Order (AO) No. 2018, signed by former President Rodrigo R. Duterte, instructed the Philippine Economic Zone Authority (PEZA) to no longer accept, process, or evaluate applications for new ecozones in Metro Manila to channel investment to areas outside the capital.
\nMs. Carbonnell said the policy may no longer be a good fit given the current demand for high-quality, PEZA-compliant spaces.
\nThe core business districts have only 478,000 square meters (sq.m.) of such space available combined, including 119,000 sq.m. in the Ortigas central business district (CBD), 160,000 sq.m. in the Makati CBD, and 199,000 sq.m. in Bonifacio Global City (BGC).
\nWhen asked if major locators are migrating to secondary CBDs, or choosing to forgo PEZA incentives to remain in primary districts, Ms. Carbonell said the large occupiers with PEZA registered status, are almost universally not interested in giving up the incentives.
\n\u201cWhat we are seeing instead is a more structured migration rationale toward secondary districts, driven by\u2026 employee accessibility, cost arbitrage (secondary district rents run roughly 20-40% below BGC and Makati), and BCP considerations where companies want to split requirements across multiple hubs,\u201d Ms. Carbonell said.
\nThe supply gap is forecast to worsen in the coming years, with only 711,000 sq.m. of upcoming office stock being PEZA-certified, according to the Colliers first quarter 2026 Property Market Briefing.
\nColliers called AO 18 a \u201cblunt policy tool\u201d given that Metro Manila is the primary driver of the office sector, accounting for around 70% of IT-BPM transactions in the first quarter.
\n\u201cNon-PEZA, non-green buildings are already carrying a vacancy rate of approximately 30%, and the trajectory is upward. The structural demand drivers are firmly against this segment: the most creditworthy occupiers will not enter them, and even government office take-up\u2026 is unlikely to absorb the volume at risk,\u201d Ms. Carbonell said when asked about the occupancy outlook for non-PEZA office buildings.
\n", "content_text": "By Juliana Chloe A. Gonzales\nTHE MORATORIUM on approving new economic zones in Metro Manila is restricting the flexibility of IT and business process management (IT-BPM) companies in selecting office locations, Savills Philippines said.\nSavills Philippines Chief Operating Officer Cha Carbonell told 大象传媒 via Viber on Thursday that while the Metro Manila office market \u201chas a headline vacancy of around 20%\u2026 once you apply the filters that creditworthy multinational corporations (MNC) and business process outsourcing (BPO) occupiers require \u2014 PEZA accreditation, green certification, business continuity plan (BCP)-grade specifications \u2014 that figure drops sharply.\u201d\nAdministrative Order (AO) No. 2018, signed by former President Rodrigo R. Duterte, instructed the Philippine Economic Zone Authority (PEZA) to no longer accept, process, or evaluate applications for new ecozones in Metro Manila to channel investment to areas outside the capital.\nMs. Carbonnell said the policy may no longer be a good fit given the current demand for high-quality, PEZA-compliant spaces.\nThe core business districts have only 478,000 square meters (sq.m.) of such space available combined, including 119,000 sq.m. in the Ortigas central business district (CBD), 160,000 sq.m. in the Makati CBD, and 199,000 sq.m. in Bonifacio Global City (BGC).\nWhen asked if major locators are migrating to secondary CBDs, or choosing to forgo PEZA incentives to remain in primary districts, Ms. Carbonell said the large occupiers with PEZA registered status, are almost universally not interested in giving up the incentives.\n\u201cWhat we are seeing instead is a more structured migration rationale toward secondary districts, driven by\u2026 employee accessibility, cost arbitrage (secondary district rents run roughly 20-40% below BGC and Makati), and BCP considerations where companies want to split requirements across multiple hubs,\u201d Ms. Carbonell said.\nThe supply gap is forecast to worsen in the coming years, with only 711,000 sq.m. of upcoming office stock being PEZA-certified, according to the Colliers first quarter 2026 Property Market Briefing.\nColliers called AO 18 a \u201cblunt policy tool\u201d given that Metro Manila is the primary driver of the office sector, accounting for around 70% of IT-BPM transactions in the first quarter.\n\u201cNon-PEZA, non-green buildings are already carrying a vacancy rate of approximately 30%, and the trajectory is upward. The structural demand drivers are firmly against this segment: the most creditworthy occupiers will not enter them, and even government office take-up\u2026 is unlikely to absorb the volume at risk,\u201d Ms. Carbonell said when asked about the occupancy outlook for non-PEZA office buildings.", "date_published": "2026-05-21T21:06:02+08:00", "date_modified": "2026-05-21T21:06:02+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2025/10/BPO-Call-center-employee.jpg", "tags": [ "Juliana Chloe A. Gonzales", "Economy", "Editors' Picks", "One News" ], "summary": "THE MORATORIUM on approving new economic zones in Metro Manila is restricting the flexibility of IT and business process management (IT-BPM) companies in selecting office locations, Savills Philippines said." }, { "id": "/?p=751369", "url": "/economy/2026/05/21/751369/davao-dpwh-officials-charged-over-ghost-farm-road-projects/", "title": "Davao DPWH officials charged over \u2018ghost\u2019 farm road projects", "content_html": "THE Department of Agriculture (DA) said it lodged graft, malversation, and falsification charges against multiple officials of the Department of Public Works and Highways (DPWH) in Davao Occidental, alleging that they improperly certified eight farm-to-market road (FMR) projects as complete.
\nIn a statement, the DA said it discovered eight projects valued at P94 million in the province, with the officials allegedly falsifying documents to declare the projects complete, facilitating the release of public funds.
\nThe complaints over what the DA described as \u201cghost\u201d projects, filed on Thursday at the Office of the Ombudsman, include corrupt practices, malversation, falsification of public documents, grave misconduct, and serious dishonesty.
\nThe complaints cite violations of Articles 217, 171, and 172 of the Revised Penal Code concerning malversation through falsification of public documents, Section 3(e) of Republic Act 3019 (Anti-Graft and Corrupt Practices Act), and administrative offenses including grave misconduct and serious dishonesty.
\nThe DA is now the lead agency for FMRs after the DPWH was stripped of responsibility for building them in the wake of the infrastructure corruption scandal of 2025.
\nValidation of the projects was carried out by the DA\u2019s Internal Audit Service (IAS), which has inspected at least 1,200 FMR projects in Regions III, IV-A, V, IX, X, and XI.
\nThose charged face potential penalties of imprisonment of up to 40 years, fines, and perpetual disqualification from public office. \u2014 Pierce Oel A. Montalvo
\n", "content_text": "THE Department of Agriculture (DA) said it lodged graft, malversation, and falsification charges against multiple officials of the Department of Public Works and Highways (DPWH) in Davao Occidental, alleging that they improperly certified eight farm-to-market road (FMR) projects as complete.\nIn a statement, the DA said it discovered eight projects valued at P94 million in the province, with the officials allegedly falsifying documents to declare the projects complete, facilitating the release of public funds.\nThe complaints over what the DA described as \u201cghost\u201d projects, filed on Thursday at the Office of the Ombudsman, include corrupt practices, malversation, falsification of public documents, grave misconduct, and serious dishonesty.\nThe complaints cite violations of Articles 217, 171, and 172 of the Revised Penal Code concerning malversation through falsification of public documents, Section 3(e) of Republic Act 3019 (Anti-Graft and Corrupt Practices Act), and administrative offenses including grave misconduct and serious dishonesty.\nThe DA is now the lead agency for FMRs after the DPWH was stripped of responsibility for building them in the wake of the infrastructure corruption scandal of 2025.\nValidation of the projects was carried out by the DA\u2019s Internal Audit Service (IAS), which has inspected at least 1,200 FMR projects in Regions III, IV-A, V, IX, X, and XI.\nThose charged face potential penalties of imprisonment of up to 40 years, fines, and perpetual disqualification from public office. \u2014 Pierce Oel A. Montalvo", "date_published": "2026-05-21T21:05:40+08:00", "date_modified": "2026-05-21T21:05:40+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2025/09/Ilocos-Norte-Farm-to-Market-Road.jpg", "tags": [ "Pierce Oel A. Montalvo", "Economy", "Editors' Picks", "One News" ] }, { "id": "/?p=751368", "url": "/economy/2026/05/21/751368/visayas-grid-on-yellow-alert-again/", "title": "Visayas grid on yellow alert again", "content_html": "THE Visayas grid was placed on yellow alert once more on Thursday, with the region\u2019s power supply remaining under pressure in the face of surging demand due to the hot weather, with a number of power plants still offline.
\nThe National Grid Corp. of the Philippines (NGCP) said the yellow alert for the Visayas was in effect between 4 p.m. and 9 p.m. on Thursday.
\nA yellow alert is issued when supply margins are insufficient to meet the transmission grid\u2019s contingency requirement.
\nDuring the period, available capacity stood at 2,670 megawatts (MW) against peak demand of 2,479 MW.
\nRemaining on forced outage were 19 power plants, with 14 plants derailed. Overall, 867 MW was unavailable to the grid.
\nNGCP said the unavailability of large coal-fired power plants in the Visayas and high forecasted power demand triggered the yellow alert.
\nThis year, the grid operator has issued a total of 15 yellow alerts and six red alerts in Luzon and the Visayas.
\nMark Anthony Ynoc, former president of Mandaue Chamber of Commerce and Industry, called the consecutive yellow alerts in the Visayas deeply concerning.
\n\u201cThese incidents reflect the need for stronger long-term energy planning, more aggressive investment in power generation, and improvements in transmission infrastructure,\u201d Mr. Ynoc said in a statement on Thursday.
\n\u201cReliable and affordable power is critical to sustaining economic growth and business confidence in the region,\u201d he added.
\nMr. Ynoc said higher power rates and recurring outages affect productivity, increase the cost of consumer goods and disrupt operations.
\n\u201cThese challenges ultimately weaken the competitiveness of businesses in Cebu and the Visayas,\u201d he said. \u2014 Sheldeen Joy Talavera
\n", "content_text": "THE Visayas grid was placed on yellow alert once more on Thursday, with the region\u2019s power supply remaining under pressure in the face of surging demand due to the hot weather, with a number of power plants still offline.\nThe National Grid Corp. of the Philippines (NGCP) said the yellow alert for the Visayas was in effect between 4 p.m. and 9 p.m. on Thursday.\nA yellow alert is issued when supply margins are insufficient to meet the transmission grid\u2019s contingency requirement.\nDuring the period, available capacity stood at 2,670 megawatts (MW) against peak demand of 2,479 MW.\nRemaining on forced outage were 19 power plants, with 14 plants derailed. Overall, 867 MW was unavailable to the grid.\nNGCP said the unavailability of large coal-fired power plants in the Visayas and high forecasted power demand triggered the yellow alert.\nThis year, the grid operator has issued a total of 15 yellow alerts and six red alerts in Luzon and the Visayas.\nMark Anthony Ynoc, former president of Mandaue Chamber of Commerce and Industry, called the consecutive yellow alerts in the Visayas deeply concerning.\n\u201cThese incidents reflect the need for stronger long-term energy planning, more aggressive investment in power generation, and improvements in transmission infrastructure,\u201d Mr. Ynoc said in a statement on Thursday.\n\u201cReliable and affordable power is critical to sustaining economic growth and business confidence in the region,\u201d he added.\nMr. Ynoc said higher power rates and recurring outages affect productivity, increase the cost of consumer goods and disrupt operations.\n\u201cThese challenges ultimately weaken the competitiveness of businesses in Cebu and the Visayas,\u201d he said. \u2014 Sheldeen Joy Talavera", "date_published": "2026-05-21T21:05:21+08:00", "date_modified": "2026-05-21T21:05:21+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2023/02/electricity-pylon-tower.jpg", "tags": [ "Sheldeen Joy Talavera", "Economy", "Editors' Picks", "One News" ] }, { "id": "/?p=751278", "url": "/stock-market/2026/05/21/751278/psei-halts-losing-streak-on-iran-peace-deal-hopes/", "title": "PSEi halts losing streak on Iran peace deal hopes", "content_html": "THE benchmark index bounced back from a four-day losing run on bargain hunting and also lifted by renewed optimism over peace talks between the United States and Iran.
\nThe Philippine Stock Exchange index (PSEi) rose by 0.46% or 27.3 points to close at 5,920.70 on Thursday, while the broader all shares index fell by 0.12% or 4.03 points to end at 3,335.85.
\n\u201cThe local market ended higher after four straight days of decline as selective bargain hunting emerged among investors. However, market participants still looked to remain engaged in short-term positions amid cautious sentiment. Gains were trimmed in the afternoon session as selling pressure resurfaced, limiting the market\u2019s upside,\u201d Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.
\n\u201cThe local market rose taking cues from Wall Street\u2019s rally overnight. US President Donald J. Trump\u2019s statement saying that the US and Iran are already on the final stages of negotiation sparked hopes that a peace deal would be coming soon,\u201d Philstocks Financial, Inc. Research Manager Japhet Louis O. Tantiangco said in a Viber message.
\nIran said on Thursday it was reviewing Washington\u2019s latest position on ending the war after Mr. Trump suggested he was prepared to wait a few days to \u201cget the right answers\u201d from Tehran but warned of renewed attacks if it did not agree to a deal, Reuters reported.
\nSix weeks since a fragile ceasefire came into force, talks to end the war have shown little progress, while soaring oil prices have raised concern over inflation and the impact on the global economy.
\nIran submitted its latest offer to the US this week. Tehran\u2019s descriptions suggest it largely repeats terms Mr. Trump previously rejected, including demands for control of the Strait of Hormuz, compensation for war damage, lifting of sanctions, release of frozen assets and the withdrawal of US troops.
\nBack home, most sector counters closed higher on Thursday. Services jumped by 1.22% or 36.68 points to 3,027.05; mining and oil increased by 0.56% or 99.86 points to 17,658.63; holding firms went up by 0.41% or 17.99 points to 4,390.3; property climbed by 0.2% or 3.89 points to 1,915.02; and financials rose by 0.2% or 3.51 points to 1,762.14.
\nMeanwhile, industrials fell by 0.61% or 52.61 points to 8,524.78.
\nDecliners beat advancers, 99 to 69, while 65 names were unchanged.
\n\u201cBank of the Philippine Islands was the day\u2019s index leader, climbing 2.76% to P89.50. Monde Nissin Corp. was the main index laggard, falling 3.66% to P6.84,\u201d Mr. Tantiangco said.
\nValue turnover went up to P6.58 billion on Thursday with 1.03 billion shares traded from the P5.67 billion with 1.24 billion issues that changed hands on Wednesday.
\nNet foreign selling increased to P190.76 million from P115.32 million in the previous session. \u2014 Alexandria Grace C. Magno with Reuters
\n", "content_text": "THE benchmark index bounced back from a four-day losing run on bargain hunting and also lifted by renewed optimism over peace talks between the United States and Iran.\nThe Philippine Stock Exchange index (PSEi) rose by 0.46% or 27.3 points to close at 5,920.70 on Thursday, while the broader all shares index fell by 0.12% or 4.03 points to end at 3,335.85.\n\u201cThe local market ended higher after four straight days of decline as selective bargain hunting emerged among investors. However, market participants still looked to remain engaged in short-term positions amid cautious sentiment. Gains were trimmed in the afternoon session as selling pressure resurfaced, limiting the market\u2019s upside,\u201d Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.\n\u201cThe local market rose taking cues from Wall Street\u2019s rally overnight. US President Donald J. Trump\u2019s statement saying that the US and Iran are already on the final stages of negotiation sparked hopes that a peace deal would be coming soon,\u201d Philstocks Financial, Inc. Research Manager Japhet Louis O. Tantiangco said in a Viber message.\nIran said on Thursday it was reviewing Washington\u2019s latest position on ending the war after Mr. Trump suggested he was prepared to wait a few days to \u201cget the right answers\u201d from Tehran but warned of renewed attacks if it did not agree to a deal, Reuters reported.\nSix weeks since a fragile ceasefire came into force, talks to end the war have shown little progress, while soaring oil prices have raised concern over inflation and the impact on the global economy.\nIran submitted its latest offer to the US this week. Tehran\u2019s descriptions suggest it largely repeats terms Mr. Trump previously rejected, including demands for control of the Strait of Hormuz, compensation for war damage, lifting of sanctions, release of frozen assets and the withdrawal of US troops.\nBack home, most sector counters closed higher on Thursday. Services jumped by 1.22% or 36.68 points to 3,027.05; mining and oil increased by 0.56% or 99.86 points to 17,658.63; holding firms went up by 0.41% or 17.99 points to 4,390.3; property climbed by 0.2% or 3.89 points to 1,915.02; and financials rose by 0.2% or 3.51 points to 1,762.14.\nMeanwhile, industrials fell by 0.61% or 52.61 points to 8,524.78.\nDecliners beat advancers, 99 to 69, while 65 names were unchanged.\n\u201cBank of the Philippine Islands was the day\u2019s index leader, climbing 2.76% to P89.50. Monde Nissin Corp. was the main index laggard, falling 3.66% to P6.84,\u201d Mr. Tantiangco said.\nValue turnover went up to P6.58 billion on Thursday with 1.03 billion shares traded from the P5.67 billion with 1.24 billion issues that changed hands on Wednesday.\nNet foreign selling increased to P190.76 million from P115.32 million in the previous session. \u2014 Alexandria Grace C. Magno with Reuters", "date_published": "2026-05-21T21:00:21+08:00", "date_modified": "2026-05-21T18:36:08+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2023/09/PSE.jpg", "tags": [ "Alexandria Grace C. Magno", "Editors' Picks", "One News", "Stock Market", "大象传媒" ] }, { "id": "/?p=751269", "url": "/sports/2026/05/21/751269/ros-tnt-seek-to-double-series-lead-against-gin-kings-meralco/", "title": "ROS, TNT seek to double series lead against Gin Kings, Meralco", "content_html": "Games on Friday
\n(SM MOA Arena)
\n5:15 p.m. \u2013 Rain or Shine vs Ginebra (Semis Game 2)*
\n7:30 p.m. \u2013 TNT vs Meralco (Semis Game 2)*
\n*ROS, TNT lead series, 1-0
TAKING GAME 1 doesn\u2019t guarantee anything. But it could well serve as a momentum builder and good foundation for success in such a tightly fought series that could go the full route.
\n\u201cIt\u2019s really encouraging to win Game 1 against a tough team like Ginebra. It can boost morale,\u201d said Rain or Shine (ROS) coach Yeng Guiao, quick to temper the celebration. \u201cBut series eh, it\u2019s a seven-game series. They\u2019re very talented and very experienced in a situation like this.\u201d
\nThe Elasto Painters look to draw momentum from their 115-111 opening W as they seek to double their lead in the race-to-four Final Four series in Friday\u2019s Game 2 at the SM MOA Arena.
\n\u201cI\u2019m really proud of the guys because they show up and compete against a team like Ginebra, with the GOAT (greatest of all time) import (Justin Brownlee), GOAT coach (Tim Cone), half of the Gilas team and the probable Best Player of the Conference (RJ Abarrientos) in their team,\u201d Mr. Guiao said.
\nLike ROS, defending champion TNT is out to make it 2-0 versus Meralco following Wednesday\u2019s 94-89 win.
\nThe Tropang 5G have been showing their championship caliber in the playoffs, with local aces Calvin Oftana, RR Pogoy, Jayson Castro and Jordan Heading connecting stronger with Bol Bol and giving their fancied import big helping hand.
\nTNT mentor Chot Reyes said having a full, healthy complement has been key.
\n\u201cWe were struggling the whole conference trying to find that combination and that balance (between Mr. Bol and the locals) but remember, we were never fully healthy in the eliminations,\u201d he said.
\n\u201cFortunately, as the eliminations wound down, we got Roger (Pogoy) back to 100% healthy and I think what you\u2019re seeing now is being able to finally put the combinations that we want together.\u201d
\nTheir respective rivals remain defiant.
\n\u201cThey (TNT) had six losses in the elimination round so they are beatable. And we just have to play probably a little bit more disciplined than we did on Wednesday,\u201d said Bolts active consultant Nenad Vucinic after their opening loss. \u2014 Olmin Leyba
\n", "content_text": "Games on Friday\n(SM MOA Arena)\n5:15 p.m. \u2013 Rain or Shine vs Ginebra (Semis Game 2)*\n7:30 p.m. \u2013 TNT vs Meralco (Semis Game 2)*\n*ROS, TNT lead series, 1-0\nTAKING GAME 1 doesn\u2019t guarantee anything. But it could well serve as a momentum builder and good foundation for success in such a tightly fought series that could go the full route.\n\u201cIt\u2019s really encouraging to win Game 1 against a tough team like Ginebra. It can boost morale,\u201d said Rain or Shine (ROS) coach Yeng Guiao, quick to temper the celebration. \u201cBut series eh, it\u2019s a seven-game series. They\u2019re very talented and very experienced in a situation like this.\u201d\nThe Elasto Painters look to draw momentum from their 115-111 opening W as they seek to double their lead in the race-to-four Final Four series in Friday\u2019s Game 2 at the SM MOA Arena.\n\u201cI\u2019m really proud of the guys because they show up and compete against a team like Ginebra, with the GOAT (greatest of all time) import (Justin Brownlee), GOAT coach (Tim Cone), half of the Gilas team and the probable Best Player of the Conference (RJ Abarrientos) in their team,\u201d Mr. Guiao said.\nLike ROS, defending champion TNT is out to make it 2-0 versus Meralco following Wednesday\u2019s 94-89 win.\nThe Tropang 5G have been showing their championship caliber in the playoffs, with local aces Calvin Oftana, RR Pogoy, Jayson Castro and Jordan Heading connecting stronger with Bol Bol and giving their fancied import big helping hand.\nTNT mentor Chot Reyes said having a full, healthy complement has been key.\n\u201cWe were struggling the whole conference trying to find that combination and that balance (between Mr. Bol and the locals) but remember, we were never fully healthy in the eliminations,\u201d he said.\n\u201cFortunately, as the eliminations wound down, we got Roger (Pogoy) back to 100% healthy and I think what you\u2019re seeing now is being able to finally put the combinations that we want together.\u201d\nTheir respective rivals remain defiant.\n\u201cThey (TNT) had six losses in the elimination round so they are beatable. And we just have to play probably a little bit more disciplined than we did on Wednesday,\u201d said Bolts active consultant Nenad Vucinic after their opening loss. \u2014 Olmin Leyba", "date_published": "2026-05-21T18:34:00+08:00", "date_modified": "2026-05-21T18:34:00+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/PBA-Bolbol.jpg", "tags": [ "Olmin Leyba", "Editors' Picks", "Sports" ], "summary": "TAKING GAME 1 doesn\u2019t guarantee anything. But it could well serve as a momentum builder and good foundation for success in such a tightly fought series that could go the full route." }, { "id": "/?p=751268", "url": "/sports/2026/05/21/751268/denmarks-hog-and-bisgaard-duo-barely-beat-pons-rondina-tandem-in-world-beach-volleyball/", "title": "Denmark\u2019s Hog and Bisgaard duo barely beat Pons-Rondina tandem in world beach volleyball", "content_html": "IT MAY NOT be a victory.
\nBut the way Bernadeth Pons and Sisi Rondina battled in the Volleyball World Beach Pro Tour, they showed they deserved to be there.
\n\u201cMargins this small only prove one thing, we belong on this stage,\u201d said a proud Ms. Pons right after their pulsating 21-19, 21-17 defeat to Denmark\u2019s Cirkeline Roed Hog and Sofia Norager Bisgaard in Nuvali in Sta. Rosa, Laguna on Thursday.
\nThe Southeast Asian Games gold medalists didn\u2019t let the star-studded event intimidate them a bit and brought everything on the table, and made their more experienced Danish foes work a little harder in the event considered as the first of many roads to the 2028 Los Angeles Olympics.
\nIt was a result that pushed the Filipinas on the brink of elimination though.
\nMs. Pons, who is back on the sands after helping steer Creamline to the PVL All-Filipino Conference crown a month ago, vowed to get back on track when they face Swiss Annique Niederhauser and Menia Bentele, needing a victory to advance to the next round.
\n\u201cWe dust ourselves off and come back stronger, on to the next,\u201d she added.
\nInterestingly, Mses. Niederhauser and Bentele edged Mses. Pons and Rondina in their one and only meeting thus far last year in a heartbreaking 18-21, 24-22, 25-12 result also on this same grounds.
\nAlso coming through were Lithuanians Gerda Grudzinskaite and Ieva Dumbauskaite, who smashed Hungarians Lilla Villam and Stefania Flora Kun, 22-20, 21-14.
\nIn men\u2019s action, American Chase Budinger, a former American player who transitioned to the sport where he eventually became an Olympian, partnered with Trevor Crabb in decimating Canadians Luke de Greeff and Tynan Gannett, 21-9, 21-13.
\nUkrainians Valentyna Davidova and Anhelina Khmil downed Mses. Niederhauser and Bentele, 20-22, 21-13, 15-11, to set a duel with Mses. Bisgaard and Hog.
\nParis 2024 Olympians Monika Paulikiene and Aine Raupelyte of Lithuania survived wildcards Marie-Alex Belanger and Amy Ozee of Canada, 21-18, 20-22, 15-12, to stay in the hunt.
\nMen\u2019s top seed players Eylon Elazar and Kevin Cuzmiciov of Israel opened their title quest with a 21-14, 21-15 rout of Denmark\u2019s Kristoffer Abell and Christian Andersen. \u2014 Joey Villar
\n", "content_text": "IT MAY NOT be a victory.\nBut the way Bernadeth Pons and Sisi Rondina battled in the Volleyball World Beach Pro Tour, they showed they deserved to be there.\n\u201cMargins this small only prove one thing, we belong on this stage,\u201d said a proud Ms. Pons right after their pulsating 21-19, 21-17 defeat to Denmark\u2019s Cirkeline Roed Hog and Sofia Norager Bisgaard in Nuvali in Sta. Rosa, Laguna on Thursday.\nThe Southeast Asian Games gold medalists didn\u2019t let the star-studded event intimidate them a bit and brought everything on the table, and made their more experienced Danish foes work a little harder in the event considered as the first of many roads to the 2028 Los Angeles Olympics.\nIt was a result that pushed the Filipinas on the brink of elimination though.\nMs. Pons, who is back on the sands after helping steer Creamline to the PVL All-Filipino Conference crown a month ago, vowed to get back on track when they face Swiss Annique Niederhauser and Menia Bentele, needing a victory to advance to the next round.\n\u201cWe dust ourselves off and come back stronger, on to the next,\u201d she added.\nInterestingly, Mses. Niederhauser and Bentele edged Mses. Pons and Rondina in their one and only meeting thus far last year in a heartbreaking 18-21, 24-22, 25-12 result also on this same grounds.\nAlso coming through were Lithuanians Gerda Grudzinskaite and Ieva Dumbauskaite, who smashed Hungarians Lilla Villam and Stefania Flora Kun, 22-20, 21-14.\nIn men\u2019s action, American Chase Budinger, a former American player who transitioned to the sport where he eventually became an Olympian, partnered with Trevor Crabb in decimating Canadians Luke de Greeff and Tynan Gannett, 21-9, 21-13.\nUkrainians Valentyna Davidova and Anhelina Khmil downed Mses. Niederhauser and Bentele, 20-22, 21-13, 15-11, to set a duel with Mses. Bisgaard and Hog.\nParis 2024 Olympians Monika Paulikiene and Aine Raupelyte of Lithuania survived wildcards Marie-Alex Belanger and Amy Ozee of Canada, 21-18, 20-22, 15-12, to stay in the hunt.\nMen\u2019s top seed players Eylon Elazar and Kevin Cuzmiciov of Israel opened their title quest with a 21-14, 21-15 rout of Denmark\u2019s Kristoffer Abell and Christian Andersen. \u2014 Joey Villar", "date_published": "2026-05-21T18:33:35+08:00", "date_modified": "2026-05-21T18:33:35+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/Rondina-Pons.jpg", "tags": [ "Joey Villar", "Editors' Picks", "Sports" ] }, { "id": "/?p=751048", "url": "/top-stories/2026/05/21/751048/adb-urges-phl-to-maximize-ppps/", "title": "ADB urges PHL to maximize PPPs", "content_html": "By Justine Irish D. Tabile, Senior Reporter
\nTHE PHILIPPINE government should maximize public-private partnerships (PPP) to help narrow the country\u2019s infrastructure gap while easing fiscal pressure from rising debt levels, the Asian Development Bank (ADB) said.
\nDespite the government\u2019s infrastructure catch-up programs, gaps remain as rapid urbanization and economic growth continue to drive demand, ADB Country Director for the Philippines Andrew Jeffries told 大象传媒 on Wednesday.
\n\u201cThere is an infrastructure gap in the Philippines\u2026 The population of Metro Manila has grown so much over a few decades, so investment in urban transport needs to catch up,\u201d he said.
\nMr. Jeffries said both the current administration\u2019s \u201cBuild Better More\u201d program and the previous administration\u2019s \u201cBuild Build Build\u201d initiative were aimed at addressing years of underinvestment.
\n\u201cAs the Philippines grows, population-wise, gross domestic product (GDP)-wise, transport needs to keep growing as well,\u201d he said.
\n\u201cAnd with what\u2019s happening now with diesel fuel prices and all, alternatives for public transport become part of that longer-term solution,\u201d he added.
\nHowever, Mr. Jeffries said infrastructure catch-up efforts are facing challenges from fiscal pressures and budget constraints.
\n\u201cThe government is keeping a very close eye on public debt levels, so how to bring the private sector into some of these investments as opposed to just government budget and borrowing, I know, is very important to this government,\u201d he said.
\nThe country\u2019s debt-to-GDP ratio reached 65.2% in the first quarter, the highest level since 2005. This comes as the National Government\u2019s outstanding debt climbed by 1.8% to P18.49 trillion as of end-March from P18.16 trillion at the end of February.
\nMr. Jeffries said that bringing in private investment ensures that \u201cpublic debt levels can be maintained or reduced over time as opposed to that being the only funding source.\u201d
\n\u201cThere is a lot of private infrastructure already in this country. And the key is how to make sure it\u2019s done well so that the government and the people are getting the best value for money,\u201d he added.
\nAccording to the PPP Center, the PPP pipeline as of May 19 consists of 250 projects valued at P3.13 trillion.\u00a0 The railway sector accounted for P1.97 trillion of the project pipeline, followed by land transport (P277.26 billion) and property development (P221.46 billion).
\nTRANSPORT PROJECTS
\nMeanwhile, Mr. Jeffries said transport projects will continue to account for a significant share of ADB\u2019s financing portfolio in the Philippines in the near term.
The multilateral lender\u2019s portfolio of projects under construction and implementation in the Philippines is valued at $12.5 billion.
\n\u201cOur transport portfolio exceeds $7 billion, so that\u2019s obviously a nice large percentage of our overall portfolio in the Philippines,\u201d he said.
\n\u201cThat is really because of some extremely large projects we are funding\u2026 From a dollar point of view, transport is clearly our largest in our portfolio here in the Philippines,\u201d he added.
\nThese projects include the North-South Commuter Railway, Bataan-Cavite Interlink Bridge, Laguna Lakeshore Road Network Project, and Davao Public Transport Modernization Project.
\nAsked if ADB is considering additional transport projects, Mr. Jeffries said that \u201cbecause they (the projects) are so large and it takes considerable time, we\u2019re funding those in time-sliced tranches.\u201d
\n\u201cSo, we have a robust pipeline going forward, just seeing those projects through to completion… We are focusing a lot on implementing what we already have,\u201d he added.
\nMr. Jeffries said the government is exploring ways to attract more private investment into the transport sector amid fiscal pressures stemming from the Middle East crisis.
\n\u201cWith the fiscal issues with this Middle East crisis and so on, the government is also looking actually at how to bring more private sector investment into this sector,\u201d he said.
\n\u201cSo, we don\u2019t have new big projects specifically in our pipeline at this time,\u201d he added.
\nMr. Jeffries said transport projects are likely to remain a major part of ADB\u2019s Philippine portfolio over the next few years as the government prioritizes completing existing projects.
\n\u201cI think that proportion will stay more or less the same for the next few years, especially now that the government is very worried about the trade-offs and the fiscal and the public debt levels,\u201d he said.
\n\u201cThey want to focus on implementation and reaching completion of what is already ongoing because until they are done and in operation, they are not benefiting the people,\u201d he added.
\nFINANCING GAP
\nThe infrastructure and investment gap is not unique to the Philippines. In its Asian Transport 2035 Outlook, the Asian Transport Observatory (ATO) said annual investment demand for transport infrastructure in Asia and the Pacific is expected to more than triple over the next decade.
\u201cAnnual investment needs across all transport modes will climb from roughly $800 billion per year during 2000-2025 to approximately $2.6 trillion per year between 2025 and 2035,\u201d the ATO said.
\n\u201cThat is equivalent to 2.3% of LMIC (lower- and middle-income countries\u2019) GDP per year,\u201d it added, referring to those in Asia and the Pacific.
\nHowever, the ATO said the projection remains conservative as it only reflects current trends and existing project pipelines.
\n\u201cActual needs, accounting for the full cost of the energy transition, the climate adaptation backlog, and the SDG (Sustainable Development Goals) access deficit, are likely to be considerably higher,\u201d it added.
\nDespite this, the ATO said the region still faces a large financing gap.
\n\u201cDevelopment banks can do things commercial investors cannot \u2014 blend concessional and market-rate lending, absorb early project risk, and attach technical assistance to pipelines that would otherwise stall at the feasibility stage,\u201d it said.
\n\u201cBut there is a limit to what external finance can do. The long-run answer to Asia\u2019s transport financing gap is stronger revenue systems and public finance reform. We are not just facing an infrastructure gap, but also an investment and governance gap,\u201d it added.
\n", "content_text": "By Justine Irish D. Tabile, Senior Reporter \nTHE PHILIPPINE government should maximize public-private partnerships (PPP) to help narrow the country\u2019s infrastructure gap while easing fiscal pressure from rising debt levels, the Asian Development Bank (ADB) said.\nDespite the government\u2019s infrastructure catch-up programs, gaps remain as rapid urbanization and economic growth continue to drive demand, ADB Country Director for the Philippines Andrew Jeffries told 大象传媒 on Wednesday.\n\u201cThere is an infrastructure gap in the Philippines\u2026 The population of Metro Manila has grown so much over a few decades, so investment in urban transport needs to catch up,\u201d he said.\nMr. Jeffries said both the current administration\u2019s \u201cBuild Better More\u201d program and the previous administration\u2019s \u201cBuild Build Build\u201d initiative were aimed at addressing years of underinvestment.\n\u201cAs the Philippines grows, population-wise, gross domestic product (GDP)-wise, transport needs to keep growing as well,\u201d he said.\n\u201cAnd with what\u2019s happening now with diesel fuel prices and all, alternatives for public transport become part of that longer-term solution,\u201d he added.\nHowever, Mr. Jeffries said infrastructure catch-up efforts are facing challenges from fiscal pressures and budget constraints.\n\u201cThe government is keeping a very close eye on public debt levels, so how to bring the private sector into some of these investments as opposed to just government budget and borrowing, I know, is very important to this government,\u201d he said.\nThe country\u2019s debt-to-GDP ratio reached 65.2% in the first quarter, the highest level since 2005. This comes as the National Government\u2019s outstanding debt climbed by 1.8% to P18.49 trillion as of end-March from P18.16 trillion at the end of February.\nMr. Jeffries said that bringing in private investment ensures that \u201cpublic debt levels can be maintained or reduced over time as opposed to that being the only funding source.\u201d\n\u201cThere is a lot of private infrastructure already in this country. And the key is how to make sure it\u2019s done well so that the government and the people are getting the best value for money,\u201d he added.\nAccording to the PPP Center, the PPP pipeline as of May 19 consists of 250 projects valued at P3.13 trillion.\u00a0 The railway sector accounted for P1.97 trillion of the project pipeline, followed by land transport (P277.26 billion) and property development (P221.46 billion). \nTRANSPORT PROJECTS\nMeanwhile, Mr. Jeffries said transport projects will continue to account for a significant share of ADB\u2019s financing portfolio in the Philippines in the near term.\nThe multilateral lender\u2019s portfolio of projects under construction and implementation in the Philippines is valued at $12.5 billion.\n\u201cOur transport portfolio exceeds $7 billion, so that\u2019s obviously a nice large percentage of our overall portfolio in the Philippines,\u201d he said.\n\u201cThat is really because of some extremely large projects we are funding\u2026 From a dollar point of view, transport is clearly our largest in our portfolio here in the Philippines,\u201d he added.\nThese projects include the North-South Commuter Railway, Bataan-Cavite Interlink Bridge, Laguna Lakeshore Road Network Project, and Davao Public Transport Modernization Project.\nAsked if ADB is considering additional transport projects, Mr. Jeffries said that \u201cbecause they (the projects) are so large and it takes considerable time, we\u2019re funding those in time-sliced tranches.\u201d \n\u201cSo, we have a robust pipeline going forward, just seeing those projects through to completion… We are focusing a lot on implementing what we already have,\u201d he added.\nMr. Jeffries said the government is exploring ways to attract more private investment into the transport sector amid fiscal pressures stemming from the Middle East crisis.\n\u201cWith the fiscal issues with this Middle East crisis and so on, the government is also looking actually at how to bring more private sector investment into this sector,\u201d he said.\n\u201cSo, we don\u2019t have new big projects specifically in our pipeline at this time,\u201d he added.\nMr. Jeffries said transport projects are likely to remain a major part of ADB\u2019s Philippine portfolio over the next few years as the government prioritizes completing existing projects.\n\u201cI think that proportion will stay more or less the same for the next few years, especially now that the government is very worried about the trade-offs and the fiscal and the public debt levels,\u201d he said.\n\u201cThey want to focus on implementation and reaching completion of what is already ongoing because until they are done and in operation, they are not benefiting the people,\u201d he added.\nFINANCING GAP\nThe infrastructure and investment gap is not unique to the Philippines. In its Asian Transport 2035 Outlook, the Asian Transport Observatory (ATO) said annual investment demand for transport infrastructure in Asia and the Pacific is expected to more than triple over the next decade.\n\u201cAnnual investment needs across all transport modes will climb from roughly $800 billion per year during 2000-2025 to approximately $2.6 trillion per year between 2025 and 2035,\u201d the ATO said. \n\u201cThat is equivalent to 2.3% of LMIC (lower- and middle-income countries\u2019) GDP per year,\u201d it added, referring to those in Asia and the Pacific.\nHowever, the ATO said the projection remains conservative as it only reflects current trends and existing project pipelines.\n\u201cActual needs, accounting for the full cost of the energy transition, the climate adaptation backlog, and the SDG (Sustainable Development Goals) access deficit, are likely to be considerably higher,\u201d it added.\nDespite this, the ATO said the region still faces a large financing gap.\n\u201cDevelopment banks can do things commercial investors cannot \u2014 blend concessional and market-rate lending, absorb early project risk, and attach technical assistance to pipelines that would otherwise stall at the feasibility stage,\u201d it said.\n\u201cBut there is a limit to what external finance can do. The long-run answer to Asia\u2019s transport financing gap is stronger revenue systems and public finance reform. We are not just facing an infrastructure gap, but also an investment and governance gap,\u201d it added.", "date_published": "2026-05-21T00:34:31+08:00", "date_modified": "2026-05-20T20:34:22+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/mrt-7-1.jpg", "tags": [ "Justine Irish D. Tabile", "Editors' Picks", "One News", "大象传媒" ], "summary": "THE PHILIPPINE government should maximize public-private partnerships (PPP) to help narrow the country\u2019s infrastructure gap while easing fiscal pressure from rising debt levels, the Asian Development Bank (ADB) said." }, { "id": "/?p=751047", "url": "/top-stories/2026/05/21/751047/el-nino-rising-costs-to-weigh-on-rice-production/", "title": "El Ni\u00f1o, rising costs to weigh on rice production", "content_html": "By Beatriz Marie D. Cruz, Senior Reporter
\nSINGAPORE \u2014 Soaring fuel and fertilizer costs linked to the Middle East conflict, coupled with drier-than-usual conditions, are putting increasing pressure on domestic rice production and threatening the Philippines\u2019 food security, according to the International Rice Research Institute (IRRI).
\n\u201cRising fuel and fertilizer costs driven by Middle East tensions, along with the emerging threat of El Ni\u00f1o, weigh heavily on agricultural production and rice farmers,\u201d IRRI Director-General Yvonne Pinto told 大象传媒 on the sidelines of the Philanthropy Asia Summit on Tuesday.
\n\u201cThe prospects for food security in the Philippines in two, three years from now are going to be much worse, unless we support and enable farmers to generate income from the rice they are producing,\u201d she said.
\nFilipino farmers are now grappling with rising costs and unstable supply of fuel and fertilizer, which are essential to rice production, Ms. Pinto said.
\nThe closure of the Strait of Hormuz has affected global supply of fertilizer and caused prices to spike. The Middle East is a hub for fertilizer production. In particular, the supply of urea from the world\u2019s largest production facility in Qatar has been stopped due to the conflict.
\nFor instance, the cost of urea, a nitrogen-based fertilizer, is 33% higher today, she noted.
\nUrea (prilled) prices averaged P2,607.42 per 50-kilogram (kg) bag between May 11 and May 15, significantly higher than the P1,686.03 per 50-kg bag in the same period last year, according to data from the Fertilizer and Pesticide Authority.\u00a0
\n\u201cSo, these geopolitical tensions really escalate the costs,\u201d Ms. Pinto said. \u201cWhat the government may have to do is provide safety nets to farmers so that they can afford them.\u201d
\nBefore the Iran war, the Philippine Department of Agriculture (DA) projected palay (unmilled rice) output to reach 20.28 million metric tons (MT) this year, under favorable weather conditions. This has been lowered to 19.87 million MT due to the Middle East conflict and the looming El Ni\u00f1o.
\nMs. Pinto said the El Ni\u00f1o phenomenon threatens to disrupt the country\u2019s rice production in the next few months.
\nThe Philippine Atmospheric, Geophysical and Astronomical Services Administration recently warned of the possibility of a moderate to severe dry spell from June until early next year.\u00a0 \u00a0
\nThe DA also estimated that agricultural output could be slashed by as much as 30% under a \u201cSuper El Ni\u00f1o\u201d scenario.
\nIn 2024, total damage to agriculture due to El Ni\u00f1o reached P15.3 billion, affecting 333,195 farmers and fisherfolk nationwide.
\nMs. Pinto said there is a need to focus on reducing labor costs for rice production through better seed distribution, mechanization, and fertilizer supply.
\nIn the medium and long terms, she called for capacity-building for fertilizer production and nature-based solutions like composting to improve affordability for farmers.
\n\u201cOur analysis tells us we only need to raise yields by one ton per hectare,\u201d Ms. Pinto said. \u201cFrom all of the strategies I mentioned, it is achievable.\u201d
\nShe also emphasized better coordination between national and local governments to ensure farmers benefit from agricultural policies.
\nThe country\u2019s rice self-sufficiency ratio, which measures the capacity of local production, dropped to 71.7% in 2024, according to the Philippine Statistics Authority. The ratio was the lowest in 37 years, or since the data series began in 1988.
\nWith the Philippines facing another El Ni\u00f1o this year, farmers should have increased access to early warning systems, alternative wetting and drying solutions, and irrigation equipment, Ms. Pinto said.
\n\u201cThese shocks are going to continue, so we\u2019ve got to develop architecture that supports farmers to stay in farming to enable the Philippines to be food secure,\u201d Ms. Pinto said.\u00a0 \u00a0
\nFor the past 65 years, IRRI has worked closely with the Philippine government through science-based innovations to help reduce hunger and poverty through rice. Headquartered in Laguna, the organization promotes sustainable agricultural production, improved nutrition, and stronger livelihoods for farmers.
\n", "content_text": "By Beatriz Marie D. Cruz, Senior Reporter \nSINGAPORE \u2014 Soaring fuel and fertilizer costs linked to the Middle East conflict, coupled with drier-than-usual conditions, are putting increasing pressure on domestic rice production and threatening the Philippines\u2019 food security, according to the International Rice Research Institute (IRRI). \n\u201cRising fuel and fertilizer costs driven by Middle East tensions, along with the emerging threat of El Ni\u00f1o, weigh heavily on agricultural production and rice farmers,\u201d IRRI Director-General Yvonne Pinto told 大象传媒 on the sidelines of the Philanthropy Asia Summit on Tuesday. \n\u201cThe prospects for food security in the Philippines in two, three years from now are going to be much worse, unless we support and enable farmers to generate income from the rice they are producing,\u201d she said.\nFilipino farmers are now grappling with rising costs and unstable supply of fuel and fertilizer, which are essential to rice production, Ms. Pinto said.\nThe closure of the Strait of Hormuz has affected global supply of fertilizer and caused prices to spike. The Middle East is a hub for fertilizer production. In particular, the supply of urea from the world\u2019s largest production facility in Qatar has been stopped due to the conflict.\nFor instance, the cost of urea, a nitrogen-based fertilizer, is 33% higher today, she noted.\nUrea (prilled) prices averaged P2,607.42 per 50-kilogram (kg) bag between May 11 and May 15, significantly higher than the P1,686.03 per 50-kg bag in the same period last year, according to data from the Fertilizer and Pesticide Authority.\u00a0\n\u201cSo, these geopolitical tensions really escalate the costs,\u201d Ms. Pinto said. \u201cWhat the government may have to do is provide safety nets to farmers so that they can afford them.\u201d\nBefore the Iran war, the Philippine Department of Agriculture (DA) projected palay (unmilled rice) output to reach 20.28 million metric tons (MT) this year, under favorable weather conditions. This has been lowered to 19.87 million MT due to the Middle East conflict and the looming El Ni\u00f1o.\nMs. Pinto said the El Ni\u00f1o phenomenon threatens to disrupt the country\u2019s rice production in the next few months.\nThe Philippine Atmospheric, Geophysical and Astronomical Services Administration recently warned of the possibility of a moderate to severe dry spell from June until early next year.\u00a0 \u00a0\nThe DA also estimated that agricultural output could be slashed by as much as 30% under a \u201cSuper El Ni\u00f1o\u201d scenario.\nIn 2024, total damage to agriculture due to El Ni\u00f1o reached P15.3 billion, affecting 333,195 farmers and fisherfolk nationwide.\nMs. Pinto said there is a need to focus on reducing labor costs for rice production through better seed distribution, mechanization, and fertilizer supply. \nIn the medium and long terms, she called for capacity-building for fertilizer production and nature-based solutions like composting to improve affordability for farmers.\n\u201cOur analysis tells us we only need to raise yields by one ton per hectare,\u201d Ms. Pinto said. \u201cFrom all of the strategies I mentioned, it is achievable.\u201d\nShe also emphasized better coordination between national and local governments to ensure farmers benefit from agricultural policies.\nThe country\u2019s rice self-sufficiency ratio, which measures the capacity of local production, dropped to 71.7% in 2024, according to the Philippine Statistics Authority. The ratio was the lowest in 37 years, or since the data series began in 1988.\nWith the Philippines facing another El Ni\u00f1o this year, farmers should have increased access to early warning systems, alternative wetting and drying solutions, and irrigation equipment, Ms. Pinto said.\n\u201cThese shocks are going to continue, so we\u2019ve got to develop architecture that supports farmers to stay in farming to enable the Philippines to be food secure,\u201d Ms. Pinto said.\u00a0 \u00a0\nFor the past 65 years, IRRI has worked closely with the Philippine government through science-based innovations to help reduce hunger and poverty through rice. Headquartered in Laguna, the organization promotes sustainable agricultural production, improved nutrition, and stronger livelihoods for farmers.", "date_published": "2026-05-21T00:33:30+08:00", "date_modified": "2026-05-20T20:29:53+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/Drought-El-Nino-farmer-philstar.jpg", "tags": [ "Beatriz Marie D. Cruz", "Editors' Picks", "One News", "大象传媒" ], "summary": "SINGAPORE \u2014 Soaring fuel and fertilizer costs linked to the Middle East conflict, coupled with drier-than-usual conditions, are putting increasing pressure on domestic rice production and threatening the Philippines\u2019 food security, according to the International Rice Research Institute (IRRI)." }, { "id": "/?p=751046", "url": "/top-stories/2026/05/21/751046/erc-yet-to-decide-on-extension-of-gea-all-suspension/", "title": "ERC yet to decide on extension of GEA-All suspension", "content_html": "ELECTRICITY CONSUMERS may face higher power costs, as the Energy Regulatory Commission (ERC) has yet to decide whether to extend the suspension of the green energy auction allowance (GEA-All) collection.
\nSharon O. Monta\u00f1er, ERC\u2019s director for market operations service, said the extension of the suspension will depend on the status of the GEA-All fund.
\n\u201cSo next month, we\u2019re going to assess again if there are (enough) funds. If we see that there\u2019s still difficulty in the payment of the bills, or electricity rates are quite high compared with previous months, and if there is sufficient balance in the fund to suspend, we can extend the suspension,\u201d she told reporters on the sidelines of the 大象传媒 Economic Forum on May 18.
\nEarlier this month, the ERC ordered to temporarily halt the collection of GEA-All from May to June to ease the financial burden on consumers amid rising inflation and global economic pressures.
\nGEA-All is a uniform charge amounting to P0.0371 per kilowatt-hour (kWh) that is passed on to on-grid consumers. It is a separate line item in the bills of consumers that started in January 2026.
\nThe amount collected is used to fund the incentives of new renewable energy (RE) projects being awarded under the green energy auction program (GEAP).
\nAs of May 5, GEA-All Fund maintains a balance of approximately P466.49 million, which is sufficient to cover the projected payment requirements of eligible RE developers during the suspension period, according to the ERC.
\n\u201cIf the crisis extends again, then, definitely, the commission will look into that (extension of the suspension) as it has always been one of the tools to relieve customers,\u201d Ms. Monta\u00f1er said.
\nMeanwhile, Ms. Monta\u00f1er said the ERC is not looking to suspend the feed-in tariff allowance (FIT-All). She noted there are no excess funds as the funds are only enough to cover payments to RE developers.
\n\u201cThere\u2019s no sufficient buffer for FIT-All. It\u2019s only enough to pay for the RE developers,\u201d she said.
\nFIT-All is another RE charge amounting to P0.2011 per kWh that is separate from GEA-All which is being paid by consumers to support emerging RE technologies.
\nNic Satur, Jr., chief advocate officer of consumer group Partners for Affordable and Reliable Energy, argued that GEA-All should be permanently removed, as consumers have been shouldering expensive power rates.
\n\u201cI believe that GEA-All has no legal basis and it should not be collected from consumers,\u201d Mr. Satur told 大象传媒. \u201cWe support our move towards clean energy but not at the expense of consumers.\u201d
\nMr. Satur said that consumers have suffered \u201clong hours of brownout, expensive electricity rate and poor service\u201d but are continuously burdened by pass-through charges, including GEA-All and FIT-All.
\nThe crisis in the Middle East has pushed global oil prices higher, increasing power generation costs in the Philippines and driving up electricity rates.
\nTo provide relief to consumers, the regulator directed distribution utilities to suspend electricity service disconnections and to implement staggered or deferred payment schemes.
\nThe suspension covers unpaid electricity bills for both residential and nonresidential consumers covering the May-to-July billing periods.
\nCustomers with a monthly consumption not exceeding 200 kWh may defer payment of their bills and settle them on a staggered basis over three months from receipt of the bill. \u2014 Sheldeen Joy Talavera
\n", "content_text": "ELECTRICITY CONSUMERS may face higher power costs, as the Energy Regulatory Commission (ERC) has yet to decide whether to extend the suspension of the green energy auction allowance (GEA-All) collection.\nSharon O. Monta\u00f1er, ERC\u2019s director for market operations service, said the extension of the suspension will depend on the status of the GEA-All fund.\n\u201cSo next month, we\u2019re going to assess again if there are (enough) funds. If we see that there\u2019s still difficulty in the payment of the bills, or electricity rates are quite high compared with previous months, and if there is sufficient balance in the fund to suspend, we can extend the suspension,\u201d she told reporters on the sidelines of the 大象传媒 Economic Forum on May 18.\nEarlier this month, the ERC ordered to temporarily halt the collection of GEA-All from May to June to ease the financial burden on consumers amid rising inflation and global economic pressures.\nGEA-All is a uniform charge amounting to P0.0371 per kilowatt-hour (kWh) that is passed on to on-grid consumers. It is a separate line item in the bills of consumers that started in January 2026.\nThe amount collected is used to fund the incentives of new renewable energy (RE) projects being awarded under the green energy auction program (GEAP).\nAs of May 5, GEA-All Fund maintains a balance of approximately P466.49 million, which is sufficient to cover the projected payment requirements of eligible RE developers during the suspension period, according to the ERC.\n\u201cIf the crisis extends again, then, definitely, the commission will look into that (extension of the suspension) as it has always been one of the tools to relieve customers,\u201d Ms. Monta\u00f1er said.\nMeanwhile, Ms. Monta\u00f1er said the ERC is not looking to suspend the feed-in tariff allowance (FIT-All). She noted there are no excess funds as the funds are only enough to cover payments to RE developers.\n\u201cThere\u2019s no sufficient buffer for FIT-All. It\u2019s only enough to pay for the RE developers,\u201d she said.\nFIT-All is another RE charge amounting to P0.2011 per kWh that is separate from GEA-All which is being paid by consumers to support emerging RE technologies.\nNic Satur, Jr., chief advocate officer of consumer group Partners for Affordable and Reliable Energy, argued that GEA-All should be permanently removed, as consumers have been shouldering expensive power rates.\n\u201cI believe that GEA-All has no legal basis and it should not be collected from consumers,\u201d Mr. Satur told 大象传媒. \u201cWe support our move towards clean energy but not at the expense of consumers.\u201d\nMr. Satur said that consumers have suffered \u201clong hours of brownout, expensive electricity rate and poor service\u201d but are continuously burdened by pass-through charges, including GEA-All and FIT-All.\nThe crisis in the Middle East has pushed global oil prices higher, increasing power generation costs in the Philippines and driving up electricity rates.\nTo provide relief to consumers, the regulator directed distribution utilities to suspend electricity service disconnections and to implement staggered or deferred payment schemes.\nThe suspension covers unpaid electricity bills for both residential and nonresidential consumers covering the May-to-July billing periods.\nCustomers with a monthly consumption not exceeding 200 kWh may defer payment of their bills and settle them on a staggered basis over three months from receipt of the bill. \u2014 Sheldeen Joy Talavera", "date_published": "2026-05-21T00:32:30+08:00", "date_modified": "2026-05-20T20:29:01+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/solar-panel-1.jpg", "tags": [ "Sheldeen Joy Talavera", "Editors' Picks", "One News", "大象传媒" ] }, { "id": "/?p=751069", "url": "/corporate/2026/05/21/751069/ictsi-secures-300-m-aiib-loan-for-terminal-upgrades-expansion/", "title": "ICTSI secures $300-M AIIB loan for terminal upgrades, expansion", "content_html": "INTERNATIONAL Container Terminal Services, Inc. (ICTSI) said on Wednesday that it had secured a $300-million (equivalent to about P18.52 billion) senior unsecured loan from the Asian Infrastructure Investment Bank (AIIB) to finance capacity expansion and technology upgrades at three Philippine container terminals.
\nIn a statement on Wednesday, the Razon-led global port operator said the funding will support infrastructure improvements at the Manila International Container Terminal (MICT), the South Luzon Container Terminal (SLCT), which remains under development, and the Mindanao Container Terminal (MCT).
\nICTSI said the transaction marks AIIB\u2019s first non-sovereign-backed deal in the Philippines.
\nThe company also said the investments are expected to help raise annual throughput capacity and improve berth productivity across the terminals.
\nUnder the project, MICT\u2019s capacity is targeted to reach 3.7 million twenty-foot equivalent units (TEUs) by 2027, while MCT and SLCT are projected to expand capacity to one million TEUs and 800,000 TEUs, respectively, by 2028.
\n\u201cICTSI welcomes this promising partnership with the AIIB, which supports our expansion and sustainability initiatives,\u201d ICTSI Chairman and President Enrique K. Razon, Jr. said.
\n\u201cWe value AIIB\u2019s shared commitment to long-term value creation, inclusive economic growth and responsible business practices, and as such, look forward to strengthening our partnership and accomplishing more together,\u201d he added.
\nAIIB Chief Officer Yong Zhou said the transaction highlights the multilateral lender\u2019s support for infrastructure development through private sector financing.
\n\u201cThis transaction demonstrates how AIIB can support infrastructure development by deploying innovative financing instruments and working closely with global operators who have the scale and execution capacity to deliver impact for the people we serve,\u201d he said.
\nFor the first quarter, ICTSI reported a 22.56% increase in attributable net income to $293.57 million, driven by higher cargo volumes and contributions from new terminals.
\nGross revenues rose 28.94% to $961.11 million during the January-to-March period from $745.42 million a year earlier.
\nShares in ICTSI climbed P5.50 or 0.69% to close at P800 each on Wednesday. \u2014 Ashley Erika O. Jose
\n", "content_text": "INTERNATIONAL Container Terminal Services, Inc. (ICTSI) said on Wednesday that it had secured a $300-million (equivalent to about P18.52 billion) senior unsecured loan from the Asian Infrastructure Investment Bank (AIIB) to finance capacity expansion and technology upgrades at three Philippine container terminals.\nIn a statement on Wednesday, the Razon-led global port operator said the funding will support infrastructure improvements at the Manila International Container Terminal (MICT), the South Luzon Container Terminal (SLCT), which remains under development, and the Mindanao Container Terminal (MCT).\nICTSI said the transaction marks AIIB\u2019s first non-sovereign-backed deal in the Philippines.\nThe company also said the investments are expected to help raise annual throughput capacity and improve berth productivity across the terminals.\nUnder the project, MICT\u2019s capacity is targeted to reach 3.7 million twenty-foot equivalent units (TEUs) by 2027, while MCT and SLCT are projected to expand capacity to one million TEUs and 800,000 TEUs, respectively, by 2028.\n\u201cICTSI welcomes this promising partnership with the AIIB, which supports our expansion and sustainability initiatives,\u201d ICTSI Chairman and President Enrique K. Razon, Jr. said.\n\u201cWe value AIIB\u2019s shared commitment to long-term value creation, inclusive economic growth and responsible business practices, and as such, look forward to strengthening our partnership and accomplishing more together,\u201d he added.\nAIIB Chief Officer Yong Zhou said the transaction highlights the multilateral lender\u2019s support for infrastructure development through private sector financing.\n\u201cThis transaction demonstrates how AIIB can support infrastructure development by deploying innovative financing instruments and working closely with global operators who have the scale and execution capacity to deliver impact for the people we serve,\u201d he said.\nFor the first quarter, ICTSI reported a 22.56% increase in attributable net income to $293.57 million, driven by higher cargo volumes and contributions from new terminals.\nGross revenues rose 28.94% to $961.11 million during the January-to-March period from $745.42 million a year earlier.\nShares in ICTSI climbed P5.50 or 0.69% to close at P800 each on Wednesday. \u2014 Ashley Erika O. Jose", "date_published": "2026-05-21T00:07:53+08:00", "date_modified": "2026-05-20T20:08:17+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2025/09/MICT-Hybrid-RTGs.jpg", "tags": [ "Ashley Erika O. Jose", "Corporate", "Editors' Picks" ] }, { "id": "/?p=750944", "url": "/technology/2026/05/21/750944/data-needs-to-be-ready-for-ai-boomi/", "title": "Data needs to be ready for AI \u2014 Boomi", "content_html": "By Cathy Rose A. Garcia, Editor-in-Chief
\nCHICAGO \u2014 Boomi, the data activation company, wants to help enterprises make their data ready for the artificial intelligence (AI) world.
\n\u201cOnly 7% of your organization\u2019s data is AI ready today. AI-ready being things like contextual, consistent, etc. And these projects, they\u2019re going to be abandoned unless you have your data activated and ready,\u201d Steve Lucas, Boomi chairman and chief executive officer (CEO), said in a keynote speech during Boomi World here on May 13. \u201cBut we can help. We can do this together.\u201d
\nBoomi currently moves twice the amount of data per second for its 30,000 customers than Visa does every day, he said.
\n\u201cWhen I looked at that number, I realized we are way more about the journey for the data than the destination. At Boomi, our job is to help you move data, get information to the right place, to the right people, to the right agents… with quality and context,\u201d Mr. Lucas said.
\nThe Boomi CEO said data activation is critical to the success of any enterprise, as the data will be activated not just for human intelligence but for AI.
\n\u201cWe want to put you at the center of the center, that center of data. Automation, integration, and AI. And that\u2019s what we\u2019re focused on with Boomi as the data activation company,\u201d Mr. Lucas said.
\n\u201cData is not the new oil… Data is simply sand. There are tons of it. Not all of it\u2019s useful, but we can do amazing things with it. We can turn sand into chips, silicon. We can do these things with data, but it\u2019s only if you put it to work. It\u2019s only if you activate that data,\u201d he said.
\nWith all the hype about AI, Mr. Lucas emphasized that AI needs to translate into real return on investment (RoI).
\n\u201cNo matter how good AI is, if RoI doesn\u2019t exist, it won\u2019t matter. Who cares if it\u2019s more creative… The RoI must exist for AI,\u201d he said.
\nHe noted that around 95% of AI projects miss RoI, because \u201cit\u2019s just too easy to start\u201d with no planning and analysis.
\n\u201cOur job is to find value in RoI. Our job is to not brag about numbers. Our job is to help you become the center of the universe where data, automation, integration, and AI, where they converge,\u201d Mr. Lucas said.
\nIn terms of RoI, he said they are looking at time savings and productivity boosts.
\n\u201cAre we saving people time? Time equals capacity for our sellers, for our marketers, for our engineers…\u00a0 I would say that we have solidly saved 100,000 or so hours per year at Boomi worth of productivity,\u201d he said.
\n\u201cWe are still growing. What we\u2019re realizing is that we can produce more products and support more customers with the same number of people that we have. So, if anything, I would say that productivity or all of this AI has led us to a greater ambition for our growth. That\u2019s the RoI,\u201d he added.
\nENTERPRISE PLATFORM
\nMeanwhile, Boomi announced a major expansion of its enterprise platform to support modern, AI-driven environments.
At Boomi World, the company said it was adding new capabilities across orchestrated agentic workflows, agentic engineering, governed agent connectivity, grounded agent context, and localized agent infrastructure.
\nThese innovations are expected to power the agentic enterprise, \u201cwhere agents and humans work together to drive action and operationalize AI at scale,\u201d it said.
\n\u201cEvery enterprise transformation has a platform moment. For agentic AI, that moment is now. Customers don\u2019t need more disconnected tools; they need an active data foundation that connects data, orchestrates workflows, and governs AI for people and agents. With these new innovations, we\u2019re extending the Boomi Enterprise Platform to make that foundation a reality,\u201d Ed Macosky, chief product and technology officer at Boomi, said.
\nWith an acceleration in AI adoption, many enterprises are having problems in scaling beyond initial use cases because of fragmented systems and lack of operational infrastructure.
\nBoomi introduced new innovations to address these issues faced by enterprises.
\nBoomi Connect provides secure, governed connectivity between AI tools and enterprise applications through model context protocol (MCP)-enabled tools, while Boomi AI Gateway enables built-in policy enforcement, cost controls, and observability.
\nThe MCP Registry allows enterprises to scale AI with control and manage MCP servers across Boomi.
\nBoomi Orchestrate allows customers to turn business ideas into enterprise-grade agentic workflows, while Agent SIM lets organizations simulate and validate agent behavior before deployment.
\nBoomi Companion is touted to accelerate agentic engineering on the Boomi platform. It is a collection of open-source agent skills that allow developers to design, build, test, deploy, and diagnose integrations through natural language using AI tools that they prefer.
\nWith Agentstudio, developers can invoke Boomi agents from any architecture or pipeline, while non-technical users can securely surface them within custom apps and portals.
\nBoomi Knowledge Hub provides a single, unified context layer to ensure AI agents and people always work from trusted, up-to-date information.
\nBoomi Meta Hub grounds AI agents and people in expert-endorsed business definitions that improve agent accuracy, eliminate fragmented interpretations, and ensure consistent business logic at scale.
\nDistributed Agent Runtime reduces cloud latency and controls costs by deploying agents on-premises while keeping sensitive data behind the firewall.
\nAgentstudio Multi-region Instances allow enterprises to scale agents globally by leaving agent metadata and runtime execution in specified regions.
\n\u201cWe\u2019re entering the next phase of enterprise AI, where success won\u2019t be defined by how many agents you deploy, but by how well they are connected, governed, and grounded in trusted data. With more than 30,000 customers and AI guided by hundreds of millions of integrations, we\u2019re helping organizations move from connected and automated to fully agentic, and turn AI into real operational impact,\u201d Mr. Lucas said.
\nBoomi recently received several analyst recognitions, such as being named a Leader for a 12th straight year and positioned highest for Ability to Execute in the 2026 Gartner Magic Quadrant for Integration Platform as a Service (IPaaS).
\nIt was also named a Leader in the IDC MarketScape: Worldwide API Management 2026 Vendor Assessment, and included in the 2026 Constellation ShortList for Cross-Platform Agentic AI, the 2026 Constellation ShortList for Data Integration and Transformation for Cloud-Based Analytical Data Platforms, and the 2026 Constellation ShortList for IPaaS.
\nBoomi was also named a Leader in the Nucleus Research iPaaS Technology Value Matrix 2026.
\n\u201cWe believe this wave of analyst recognition reflects the strength of our platform and the momentum we\u2019re seeing from customers who want one strategic foundation for integration, APIs, data, automation, and agentic AI,\u201d Mr. Lucas said.
\n", "content_text": "By Cathy Rose A. Garcia, Editor-in-Chief\nCHICAGO \u2014 Boomi, the data activation company, wants to help enterprises make their data ready for the artificial intelligence (AI) world.\n\u201cOnly 7% of your organization\u2019s data is AI ready today. AI-ready being things like contextual, consistent, etc. And these projects, they\u2019re going to be abandoned unless you have your data activated and ready,\u201d Steve Lucas, Boomi chairman and chief executive officer (CEO), said in a keynote speech during Boomi World here on May 13. \u201cBut we can help. We can do this together.\u201d\nBoomi currently moves twice the amount of data per second for its 30,000 customers than Visa does every day, he said.\n\u201cWhen I looked at that number, I realized we are way more about the journey for the data than the destination. At Boomi, our job is to help you move data, get information to the right place, to the right people, to the right agents… with quality and context,\u201d Mr. Lucas said.\nThe Boomi CEO said data activation is critical to the success of any enterprise, as the data will be activated not just for human intelligence but for AI.\n\u201cWe want to put you at the center of the center, that center of data. Automation, integration, and AI. And that\u2019s what we\u2019re focused on with Boomi as the data activation company,\u201d Mr. Lucas said.\n\u201cData is not the new oil… Data is simply sand. There are tons of it. Not all of it\u2019s useful, but we can do amazing things with it. We can turn sand into chips, silicon. We can do these things with data, but it\u2019s only if you put it to work. It\u2019s only if you activate that data,\u201d he said.\nWith all the hype about AI, Mr. Lucas emphasized that AI needs to translate into real return on investment (RoI).\n\u201cNo matter how good AI is, if RoI doesn\u2019t exist, it won\u2019t matter. Who cares if it\u2019s more creative… The RoI must exist for AI,\u201d he said.\nHe noted that around 95% of AI projects miss RoI, because \u201cit\u2019s just too easy to start\u201d with no planning and analysis.\n\u201cOur job is to find value in RoI. Our job is to not brag about numbers. Our job is to help you become the center of the universe where data, automation, integration, and AI, where they converge,\u201d Mr. Lucas said.\nIn terms of RoI, he said they are looking at time savings and productivity boosts.\n\u201cAre we saving people time? Time equals capacity for our sellers, for our marketers, for our engineers…\u00a0 I would say that we have solidly saved 100,000 or so hours per year at Boomi worth of productivity,\u201d he said.\n\u201cWe are still growing. What we\u2019re realizing is that we can produce more products and support more customers with the same number of people that we have. So, if anything, I would say that productivity or all of this AI has led us to a greater ambition for our growth. That\u2019s the RoI,\u201d he added.\nENTERPRISE PLATFORM\nMeanwhile, Boomi announced a major expansion of its enterprise platform to support modern, AI-driven environments.\nAt Boomi World, the company said it was adding new capabilities across orchestrated agentic workflows, agentic engineering, governed agent connectivity, grounded agent context, and localized agent infrastructure.\nThese innovations are expected to power the agentic enterprise, \u201cwhere agents and humans work together to drive action and operationalize AI at scale,\u201d it said.\n\u201cEvery enterprise transformation has a platform moment. For agentic AI, that moment is now. Customers don\u2019t need more disconnected tools; they need an active data foundation that connects data, orchestrates workflows, and governs AI for people and agents. With these new innovations, we\u2019re extending the Boomi Enterprise Platform to make that foundation a reality,\u201d Ed Macosky, chief product and technology officer at Boomi, said.\nWith an acceleration in AI adoption, many enterprises are having problems in scaling beyond initial use cases because of fragmented systems and lack of operational infrastructure.\nBoomi introduced new innovations to address these issues faced by enterprises.\nBoomi Connect provides secure, governed connectivity between AI tools and enterprise applications through model context protocol (MCP)-enabled tools, while Boomi AI Gateway enables built-in policy enforcement, cost controls, and observability.\nThe MCP Registry allows enterprises to scale AI with control and manage MCP servers across Boomi.\nBoomi Orchestrate allows customers to turn business ideas into enterprise-grade agentic workflows, while Agent SIM lets organizations simulate and validate agent behavior before deployment.\nBoomi Companion is touted to accelerate agentic engineering on the Boomi platform. It is a collection of open-source agent skills that allow developers to design, build, test, deploy, and diagnose integrations through natural language using AI tools that they prefer.\nWith Agentstudio, developers can invoke Boomi agents from any architecture or pipeline, while non-technical users can securely surface them within custom apps and portals.\nBoomi Knowledge Hub provides a single, unified context layer to ensure AI agents and people always work from trusted, up-to-date information.\nBoomi Meta Hub grounds AI agents and people in expert-endorsed business definitions that improve agent accuracy, eliminate fragmented interpretations, and ensure consistent business logic at scale.\nDistributed Agent Runtime reduces cloud latency and controls costs by deploying agents on-premises while keeping sensitive data behind the firewall.\nAgentstudio Multi-region Instances allow enterprises to scale agents globally by leaving agent metadata and runtime execution in specified regions.\n\u201cWe\u2019re entering the next phase of enterprise AI, where success won\u2019t be defined by how many agents you deploy, but by how well they are connected, governed, and grounded in trusted data. With more than 30,000 customers and AI guided by hundreds of millions of integrations, we\u2019re helping organizations move from connected and automated to fully agentic, and turn AI into real operational impact,\u201d Mr. Lucas said.\nBoomi recently received several analyst recognitions, such as being named a Leader for a 12th straight year and positioned highest for Ability to Execute in the 2026 Gartner Magic Quadrant for Integration Platform as a Service (IPaaS).\nIt was also named a Leader in the IDC MarketScape: Worldwide API Management 2026 Vendor Assessment, and included in the 2026 Constellation ShortList for Cross-Platform Agentic AI, the 2026 Constellation ShortList for Data Integration and Transformation for Cloud-Based Analytical Data Platforms, and the 2026 Constellation ShortList for IPaaS.\nBoomi was also named a Leader in the Nucleus Research iPaaS Technology Value Matrix 2026.\n\u201cWe believe this wave of analyst recognition reflects the strength of our platform and the momentum we\u2019re seeing from customers who want one strategic foundation for integration, APIs, data, automation, and agentic AI,\u201d Mr. Lucas said.", "date_published": "2026-05-21T00:06:58+08:00", "date_modified": "2026-05-20T18:07:47+08:00", "authors": [ { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/cedadiantityclea/", "avatar": "https://secure.gravatar.com/avatar/fc38d2668fdee8f1e2b22df5e72ae6f4ad265ab7814de4aa60060edd377a70ce?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/Boomi-Steve-Lucas-Keynote-45.jpg", "tags": [ "Cathy Rose A. Garcia", "Editors' Picks", "Technology" ], "summary": "CHICAGO \u2014 Boomi, the data activation company, wants to help enterprises make their data ready for the artificial intelligence (AI) world." } ] }![\"\"](\"/wp-content/uploads/2026/05/Board-game-2.jpg\")
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