![\"\"](\"/wp-content/uploads/2026/05/Table-001-OL.jpg\")
As digital financial services become essential to daily life, GCash, the Philippines\u2019 leading finance superapp, continues to strengthen its commitment to user security by streamlining its support channels.
\nTo help users navigate concerns such as unauthorized transactions, account takeovers, scams, and \u201cwrong send\u201d errors, GCash provides clear and accessible reporting tools designed to enable faster resolution. By knowing exactly where to seek help, users can better protect their accounts and minimize financial risks in an increasingly cashless ecosystem.
\nBuilt-in support channels and security safeguards
\nGCash provides a range of official help channels designed to address different types of concerns. Inside the app, users can access in-app guides that offer step-by-step instructions for common issues. The GCash Help Center also serves as a central hub where users can find articles, submit requests, and report concerns.
\nFor transaction-related concerns, the transaction history feature allows users to review details and identify discrepancies. Error notifications within the app also help flag failed or suspicious activities, prompting users to take action when needed.
\nUsers seeking direct support can connect with Gigi, the chat agent in the Help Center which serves as the primary channel for account-related concerns. Through Gigi, users can report lost SIM cards or phones, request transfer of funds, and apply for wallet limit upgrades, with guided steps to help resolve these cases quickly.
\nFor more complex concerns, live agent support is available to handle cases that require deeper investigation, such as unauthorized transactions or account takeovers. Users can\u00a0get in touch with\u00a0these agents by calling the official\u00a0GCash\u00a0Help Center hotline at 2882.
\nThese support channels are structured based on the level of concern. Simple issues can often be resolved through guides and self-service tools, while more sensitive cases are escalated to trained support agents. This approach helps ensure that users receive the right level of\u00a0assistance\u00a0without unnecessary delays.
\nAlongside this support ecosystem are security features built into the\u00a0GCash\u00a0app that give users an added layer of protection. Account Secure limits account access to one device at a time.\u00a0DoubleSafe\u00a0adds an extra verification step that requires selfie scans to confirm the user\u2019s identity, especially for high-risk activities such as logging in to a new device and high-value transactions. Biometrics Login and MPIN Protection confirm that only the account owner can authorize transactions, while One-Time Passwords (OTP) provide an\u00a0additional\u00a0check for sensitive actions.
\nA shared effort to keep digital financing safe
\nBeyond its in-app security features and help channels,\u00a0GCash\u00a0also works closely with regulators and law enforcement agencies such as the Cybercrime Investigation and Coordinating Center (CICC) and PH Payments Management Inc. (PPMI) to detect and act on fraud.\u00a0GCash\u00a0has blocked more than 4,900 fraudulent merchants linked to\u00a0quishing\u00a0or QR phishing schemes, reflecting the scale of its enforcement efforts.
\nThe company continues to strengthen its customer experience by refining support tools and reducing response times. Enhancements are regularly introduced to make it easier for users to report concerns and track the status of their requests.
\n“Resolving a concern quickly starts with going to the right channel. We have built our support system so that users can find the help they need, whether it is a simple guide in the app or a conversation with a live agent,\u201d said Paul Velasquez, GCash AVP and Head of Customer Service Operations.
\nGCash also encourages users to remain vigilant and report suspicious activity immediately through official support channels. The company advises transacting only through official GCash channels and verifying website URLs before completing any payment. No one from GCash will ever ask for an OTP, MPIN, or password.
\nSuspicious activity can be reported through the\u00a0GCash\u00a0Help Center in the app or by going to help.gcash.com and\u00a0submitting\u00a0a ticket. Users can also call the official hotline at 2882 to speak to a live agent.
\nFor more information on account safety and available support, visit www.gcash.com.
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\nJoin us on Viber at\u00a0https://bit.ly/3hv6bLA\u00a0to get more updates and subscribe to 大象传媒\u2019s titles and get exclusive content through\u00a0www.bworld-x.com.
\n", "content_text": "As digital financial services become essential to daily life, GCash, the Philippines\u2019 leading finance superapp, continues to strengthen its commitment to user security by streamlining its support channels.\nTo help users navigate concerns such as unauthorized transactions, account takeovers, scams, and \u201cwrong send\u201d errors, GCash provides clear and accessible reporting tools designed to enable faster resolution. By knowing exactly where to seek help, users can better protect their accounts and minimize financial risks in an increasingly cashless ecosystem.\nBuilt-in support channels and security safeguards\nGCash provides a range of official help channels designed to address different types of concerns. Inside the app, users can access in-app guides that offer step-by-step instructions for common issues. The GCash Help Center also serves as a central hub where users can find articles, submit requests, and report concerns.\nFor transaction-related concerns, the transaction history feature allows users to review details and identify discrepancies. Error notifications within the app also help flag failed or suspicious activities, prompting users to take action when needed.\nUsers seeking direct support can connect with Gigi, the chat agent in the Help Center which serves as the primary channel for account-related concerns. Through Gigi, users can report lost SIM cards or phones, request transfer of funds, and apply for wallet limit upgrades, with guided steps to help resolve these cases quickly.\nFor more complex concerns, live agent support is available to handle cases that require deeper investigation, such as unauthorized transactions or account takeovers. Users can\u00a0get in touch with\u00a0these agents by calling the official\u00a0GCash\u00a0Help Center hotline at 2882.\nThese support channels are structured based on the level of concern. Simple issues can often be resolved through guides and self-service tools, while more sensitive cases are escalated to trained support agents. This approach helps ensure that users receive the right level of\u00a0assistance\u00a0without unnecessary delays.\nAlongside this support ecosystem are security features built into the\u00a0GCash\u00a0app that give users an added layer of protection. Account Secure limits account access to one device at a time.\u00a0DoubleSafe\u00a0adds an extra verification step that requires selfie scans to confirm the user\u2019s identity, especially for high-risk activities such as logging in to a new device and high-value transactions. Biometrics Login and MPIN Protection confirm that only the account owner can authorize transactions, while One-Time Passwords (OTP) provide an\u00a0additional\u00a0check for sensitive actions.\nA shared effort to keep digital financing safe\nBeyond its in-app security features and help channels,\u00a0GCash\u00a0also works closely with regulators and law enforcement agencies such as the Cybercrime Investigation and Coordinating Center (CICC) and PH Payments Management Inc. (PPMI) to detect and act on fraud.\u00a0GCash\u00a0has blocked more than 4,900 fraudulent merchants linked to\u00a0quishing\u00a0or QR phishing schemes, reflecting the scale of its enforcement efforts.\nThe company continues to strengthen its customer experience by refining support tools and reducing response times. Enhancements are regularly introduced to make it easier for users to report concerns and track the status of their requests.\n“Resolving a concern quickly starts with going to the right channel. We have built our support system so that users can find the help they need, whether it is a simple guide in the app or a conversation with a live agent,\u201d said Paul Velasquez, GCash AVP and Head of Customer Service Operations.\nGCash also encourages users to remain vigilant and report suspicious activity immediately through official support channels. The company advises transacting only through official GCash channels and verifying website URLs before completing any payment. No one from GCash will ever ask for an OTP, MPIN, or password.\nSuspicious activity can be reported through the\u00a0GCash\u00a0Help Center in the app or by going to help.gcash.com and\u00a0submitting\u00a0a ticket. Users can also call the official hotline at 2882 to speak to a live agent.\nFor more information on account safety and available support, visit www.gcash.com.\n \n \n\nSpotlight is 大象传媒\u2019s sponsored section that allows advertisers to amplify their brand and connect with 大象传媒\u2019s audience by publishing their stories on the 大象传媒 Web site. For more information, send an email to\u00a0online@bworldonline.com.\nJoin us on Viber at\u00a0https://bit.ly/3hv6bLA\u00a0to get more updates and subscribe to 大象传媒\u2019s titles and get exclusive content through\u00a0www.bworld-x.com.", "date_published": "2026-05-23T09:00:06+08:00", "date_modified": "2026-05-23T11:11:13+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/GCah-Help-OL.jpg", "tags": [ "GCash", "GCash Help Center", "reporting tools", "support channels", "user security", "Spotlight" ] }, { "id": "/?p=751503", "url": "/property/2026/05/22/751503/taal-vista-hotel-opens-its-doors-to-newly-renovated-rooms-presidential-villa/", "title": "Taal Vista Hotel opens its doors to newly renovated rooms, Presidential Villa", "content_html": "Taal Vista Hotel has opened its Presidential Villa and unveiled newly renovated rooms as part of its ongoing property upgrades.
\nThe hotel recently introduced the Presidential Villa, a 630.2-square-meter private retreat overlooking Taal Lake.
\nThe villa features a grand foyer and living area, formal dining room, expansive Master Suite with veranda views of Taal Lake, and complementary King and Twin bedrooms.
\nThe villa also includes premium bath amenities, personalized butler service, expansive balcony and deck spaces, and exclusive access features.
\nThe development strengthens the property\u2019s position as a lifestyle and wellness destination, offering guests a short escape from the city with direct views of Taal Lake and Volcano.
\n“The Presidential Villa really encapsulates who we are as a property\u2014spacious, private, and fully oriented toward those uninterrupted views of Taal Lake and Volcano.\u201d Taal Vista Hotel General Manager Ramon Makilan said in a written interview.
\n\u201cAt Taal Vista Hotel, our distinction really comes from heritage and location. There\u2019s an authenticity to the experience that you can\u2019t replicate. The Presidential Villa builds on that by offering a heightened level of privacy, space, and personalized service\u2014all set against the iconic Taal Lake and Volcano backdrop,\u201d he said.
\nMr. Makilan said the hotel incorporated locally sourced materials and handcrafted elements throughout the villa\u2019s interiors to highlight local craftsmanship and create a more authentic guest experience.
\nAccording to Mr. Makilan, while Taal Vista Hotel’s positioning is premium, its broader impact especially economically\u2014remains inclusive and far-reaching.
\n“A large portion of both our team and supplier base is locally sourced, which is something we consciously prioritize,” Mr. Makilan said.
\n“A significant part of Taal Vista Hotel’s role is supporting the local economy\u2014through employment, partnerships, and contributing to tourism activity in the area,” he said.\u2014 Kaizzer Angela Marie V. Manuba
\n", "content_text": "Taal Vista Hotel has opened its Presidential Villa and unveiled newly renovated rooms as part of its ongoing property upgrades.\nThe hotel recently introduced the Presidential Villa, a 630.2-square-meter private retreat overlooking Taal Lake.\nThe villa features a grand foyer and living area, formal dining room, expansive Master Suite with veranda views of Taal Lake, and complementary King and Twin bedrooms.\nThe villa also includes premium bath amenities, personalized butler service, expansive balcony and deck spaces, and exclusive access features.\nThe development strengthens the property\u2019s position as a lifestyle and wellness destination, offering guests a short escape from the city with direct views of Taal Lake and Volcano.\n“The Presidential Villa really encapsulates who we are as a property\u2014spacious, private, and fully oriented toward those uninterrupted views of Taal Lake and Volcano.\u201d Taal Vista Hotel General Manager Ramon Makilan said in a written interview.\n\u201cAt Taal Vista Hotel, our distinction really comes from heritage and location. There\u2019s an authenticity to the experience that you can\u2019t replicate. The Presidential Villa builds on that by offering a heightened level of privacy, space, and personalized service\u2014all set against the iconic Taal Lake and Volcano backdrop,\u201d he said.\nMr. Makilan said the hotel incorporated locally sourced materials and handcrafted elements throughout the villa\u2019s interiors to highlight local craftsmanship and create a more authentic guest experience.\nAccording to Mr. Makilan, while Taal Vista Hotel’s positioning is premium, its broader impact especially economically\u2014remains inclusive and far-reaching.\n“A large portion of both our team and supplier base is locally sourced, which is something we consciously prioritize,” Mr. Makilan said.\n“A significant part of Taal Vista Hotel’s role is supporting the local economy\u2014through employment, partnerships, and contributing to tourism activity in the area,” he said.\u2014 Kaizzer Angela Marie V. Manuba", "date_published": "2026-05-22T16:05:44+08:00", "date_modified": "2026-05-22T16:05:44+08:00", "authors": [ { "name": "大象传媒", "url": "/author/agarwalekwensi/", "avatar": "https://secure.gravatar.com/avatar/63a6222a994ecdcd0783bb257b7c4e6d18b49dfa789dd168af5420ab8a45082c?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/agarwalekwensi/", "avatar": "https://secure.gravatar.com/avatar/63a6222a994ecdcd0783bb257b7c4e6d18b49dfa789dd168af5420ab8a45082c?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/1663.jpg", "tags": [ "Kaizzer Angela Marie V. Manuba", "Property" ] }, { "id": "/?p=751495", "url": "/the-nation/2026/05/22/751495/us-embassy-pushes-for-more-filipino-students-in-america/", "title": "US Embassy pushes for more Filipino students in America", "content_html": "The US Embassy in the Philippines encouraged more students to explore higher education opportunities in America, following a 50% increase in the Filipino student population in the country.
\n“The United States is really a leader in both quality and innovative education, and the doors are very much open for Filipino students,” Jessica Simon, counselor for public affairs of the US Embassy in the Philippines, told reporters on Friday at the sidelines of an event.
\nAccording to the Open Doors 2024 Report on International Educational Exchange, the number of Filipino students enrolled in US universities and colleges increased from 3,000 to 4,500 over the past decade.
\nScience, technology, education, and mathematics are among the popular programs pursued by Filipinos, driven by the global rise in demand for artificial intelligence (AI).
\n“We’re hoping the number just goes one direction, and that’s up,” Ms. Simon said.
\n“With the increasing awareness of the importance of artificial intelligence, and the jobs that are going to be created in artificial intelligence fields, that’s definitely an interest,” she added.
\nThe US Embassy official also noted that global economic uncertainties and challenges do not directly affect learners’ interest in studying abroad.
\n“I don’t know that we’ve seen a direct effect on the demand for student visas,” she said. “I think any kind of uncertainty, economic uncertainty, global uncertainty, causes just general uncertainty.”
\nShe also assured that there would be no tighter regulations on student visa applications for the Philippines, following the US government’s expansion of its travel ban to 39 countries in January. “There are no restrictions; we have student visa appointments open.”
\n“We very much welcome Filipino and international students in the United States, and that’s why we’re holding the EducationUSA Fair today,” she added.
\nThe EducationUSA University Fair Spring 2026, happening in Quezon City and Davao City, connects Filipino students with 17 higher education institutions overseas.
\n“I think this is the 1st step in pursuing an education exchange experience,” Ms. Simon said. “Even if it’s not to depart next month, next year on an exchange, the students here today can really benefit from taking this 1st step and getting this initial information.”
\nArizona State University, College of Central Florida, Lewis University, Manhattan University, Middle Tennessee State University, and the University of San Francisco are among the universities at the fair.
\nEducationUSA is the official source of information on US tertiary education. It offers free advising services to interested applicants through its offices at the US Embassy and Fulbright Philippines.\u2014 Almira Louise S. Martinez
\n", "content_text": "The US Embassy in the Philippines encouraged more students to explore higher education opportunities in America, following a 50% increase in the Filipino student population in the country.\n“The United States is really a leader in both quality and innovative education, and the doors are very much open for Filipino students,” Jessica Simon, counselor for public affairs of the US Embassy in the Philippines, told reporters on Friday at the sidelines of an event.\nAccording to the Open Doors 2024 Report on International Educational Exchange, the number of Filipino students enrolled in US universities and colleges increased from 3,000 to 4,500 over the past decade.\nScience, technology, education, and mathematics are among the popular programs pursued by Filipinos, driven by the global rise in demand for artificial intelligence (AI).\n“We’re hoping the number just goes one direction, and that’s up,” Ms. Simon said.\n“With the increasing awareness of the importance of artificial intelligence, and the jobs that are going to be created in artificial intelligence fields, that’s definitely an interest,” she added.\nThe US Embassy official also noted that global economic uncertainties and challenges do not directly affect learners’ interest in studying abroad.\n“I don’t know that we’ve seen a direct effect on the demand for student visas,” she said. “I think any kind of uncertainty, economic uncertainty, global uncertainty, causes just general uncertainty.”\nShe also assured that there would be no tighter regulations on student visa applications for the Philippines, following the US government’s expansion of its travel ban to 39 countries in January. “There are no restrictions; we have student visa appointments open.”\n“We very much welcome Filipino and international students in the United States, and that’s why we’re holding the EducationUSA Fair today,” she added.\nThe EducationUSA University Fair Spring 2026, happening in Quezon City and Davao City, connects Filipino students with 17 higher education institutions overseas.\n“I think this is the 1st step in pursuing an education exchange experience,” Ms. Simon said. “Even if it’s not to depart next month, next year on an exchange, the students here today can really benefit from taking this 1st step and getting this initial information.”\nArizona State University, College of Central Florida, Lewis University, Manhattan University, Middle Tennessee State University, and the University of San Francisco are among the universities at the fair.\nEducationUSA is the official source of information on US tertiary education. It offers free advising services to interested applicants through its offices at the US Embassy and Fulbright Philippines.\u2014 Almira Louise S. Martinez", "date_published": "2026-05-22T15:48:47+08:00", "date_modified": "2026-05-22T15:48:47+08:00", "authors": [ { "name": "大象传媒", "url": "/author/agarwalekwensi/", "avatar": "https://secure.gravatar.com/avatar/63a6222a994ecdcd0783bb257b7c4e6d18b49dfa789dd168af5420ab8a45082c?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/agarwalekwensi/", "avatar": "https://secure.gravatar.com/avatar/63a6222a994ecdcd0783bb257b7c4e6d18b49dfa789dd168af5420ab8a45082c?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/EducationUSA.jpg", "tags": [ "almira louise s. martinez", "Lilybeth Tan-Ng", "The Nation" ] }, { "id": "/?p=751482", "url": "/the-nation/2026/05/22/751482/lpa-to-drench-the-country-on-friday-says-pagasa/", "title": "LPA to drench the country on Friday, says PAGASA", "content_html": "A low-pressure area (LPA) is expected to bring rains over large parts of the country on Friday, according to the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA).
\nThe LPA being monitored within the Philippine Area of Responsibility was located 875 kilometers east of southern Mindanao, PAGASA said in a tropical cyclone formation outlook released at 10am.
\n\u201cIt has a low chance of developing into a tropical cyclone,\u201d PAGASA weather specialist Loriedin De La Cruz-Galicia said in a 5am media briefing in Filipino, attributing this to the LPA\u2019s weak circulation.
\n\u201cHowever, its trough or extension is expected to bring rains over large parts of the country today and in the succeeding days.\u201d
\nShe added that the LPA may persist within at least the next 48 hours.
\nPAGASA cautioned against possible flash floods or landslides due to moderate to occasional heavy rains, attributed to the LPA.
\nMeanwhile, the easterlies are also expected to prevail over large parts of Luzon and Visayas, bringing hot and humid weather conditions within the next 24 hours.
\nDangerous-level heat index is expected in 56 out of the 78 monitoring stations of PAGASA on Friday, based on the agency\u2019s heat index monitoring.
\nThe highest \u201cfeels-like\u201d temperature expected is 45 degrees Celsius, which may be experienced in seven areas.
\nPAGASA still reminded the public to avoid going outdoors and to use sun protection to prevent heat-related illnesses.\u2014 Edg Adrian A. Eva
\n", "content_text": "A low-pressure area (LPA) is expected to bring rains over large parts of the country on Friday, according to the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA).\nThe LPA being monitored within the Philippine Area of Responsibility was located 875 kilometers east of southern Mindanao, PAGASA said in a tropical cyclone formation outlook released at 10am.\n\u201cIt has a low chance of developing into a tropical cyclone,\u201d PAGASA weather specialist Loriedin De La Cruz-Galicia said in a 5am media briefing in Filipino, attributing this to the LPA\u2019s weak circulation.\n\u201cHowever, its trough or extension is expected to bring rains over large parts of the country today and in the succeeding days.\u201d\nShe added that the LPA may persist within at least the next 48 hours.\nPAGASA cautioned against possible flash floods or landslides due to moderate to occasional heavy rains, attributed to the LPA.\nMeanwhile, the easterlies are also expected to prevail over large parts of Luzon and Visayas, bringing hot and humid weather conditions within the next 24 hours.\nDangerous-level heat index is expected in 56 out of the 78 monitoring stations of PAGASA on Friday, based on the agency\u2019s heat index monitoring.\nThe highest \u201cfeels-like\u201d temperature expected is 45 degrees Celsius, which may be experienced in seven areas.\nPAGASA still reminded the public to avoid going outdoors and to use sun protection to prevent heat-related illnesses.\u2014 Edg Adrian A. Eva", "date_published": "2026-05-22T13:44:17+08:00", "date_modified": "2026-05-22T13:44:17+08:00", "authors": [ { "name": "大象传媒", "url": "/author/agarwalekwensi/", "avatar": "https://secure.gravatar.com/avatar/63a6222a994ecdcd0783bb257b7c4e6d18b49dfa789dd168af5420ab8a45082c?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/agarwalekwensi/", "avatar": "https://secure.gravatar.com/avatar/63a6222a994ecdcd0783bb257b7c4e6d18b49dfa789dd168af5420ab8a45082c?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/pagasa-lpa-5-22.jpg", "tags": [ "Edg Adrian A. Eva", "The Nation" ] }, { "id": "/?p=751467", "url": "/the-nation/2026/05/22/751467/phl-logs-over-4600-new-hiv-cases-in-q1-nearly-all-cases-reported-among-males-doh/", "title": "PHL logs over 4,600 new HIV cases in Q1; nearly all cases reported among males \u2014 DoH", "content_html": "The Philippines recorded 4,633 new confirmed cases of Human Immunodeficiency Virus (HIV) during the first quarter of 2026, with nearly all cases occurring among males, according to the Department of Health (DoH).
\nThe newly logged cases translate to a ninefold increase from January to March compared with the same period last year, the DoH said in its latest surveillance report.
\nThis means that about 51 new cases were diagnosed per day during the first quarter, which the report noted an 11% decline compare to the previous quarter.
\nThe country\u2019s total HIV cases stands at 168,079, from the first reported case in January 1984 to March 2026.
\nOf the total new cases, 4,381 were reported among males, comprising 95% of the cases, while 252 new cases were logged among females, accounting for 5%.
\nAs for age demographics, nearly half of the new cases, or 2,118 (46%), were reported among individuals aged 25 to 34 years old.
\nThis was followed by individuals aged 15 to 24 years old, with 1,443 new cases or 31% of the total.
\nOther age groups also recorded new cases: 845 (18%) among individuals aged 35 to 49 years old, 116 (3%) among those aged 50 years and older, and 23 (<1%) among individuals younger than 15 years old.
\nThe DoH said this brought the country\u2019s median age of new HIV cases to 28 years old.
\nOf the total recorded new cases, 24% or 1,104 were diagnosed with advanced HIV disease at the time of diagnosis.
\nIn terms of geographic distribution, the National Capital Region logged the highest number of cases at 989 (21%), followed by Region IV-A with 808 (17%), and Region III with 551 (12%).
\nNew cases were also reported in Region XII (277), Region XI (263), Region VII (228), Region VI (216), Region I (191), Region X (183), Region V (158), Region IX (137), the Negros Island Region (133), and Region II (108), as well as in Region IV-B and VIII (101), CARAGA (84), BARMM (42), and CAR (37).
\nThe DoH said the mode of transmission for new HIV cases remains primarily through sexual contact, accounting for 4,214 cases (91%), including 3,095 among males who have sex with males and 567 among individuals who engaged in both male-to-male and male-to-female sexual contact.
\nWhile no definitive cure is currently available, the DoH earlier said that people living with HIV undergo antiretroviral therapy (ART), which \u201cslows down and virtually halts the progression\u201d of the disease. People living with HIV on ART may still live long and healthy lives.
\nFor prevention, the DoH urged the public to practice safe sex and to use pre-exposure prophylaxis (PrEP) for individuals at high risk of infection.\u2014 Edg Adrian A. Eva
\n", "content_text": "The Philippines recorded 4,633 new confirmed cases of Human Immunodeficiency Virus (HIV) during the first quarter of 2026, with nearly all cases occurring among males, according to the Department of Health (DoH).\nThe newly logged cases translate to a ninefold increase from January to March compared with the same period last year, the DoH said in its latest surveillance report.\nThis means that about 51 new cases were diagnosed per day during the first quarter, which the report noted an 11% decline compare to the previous quarter.\nThe country\u2019s total HIV cases stands at 168,079, from the first reported case in January 1984 to March 2026.\nOf the total new cases, 4,381 were reported among males, comprising 95% of the cases, while 252 new cases were logged among females, accounting for 5%.\nAs for age demographics, nearly half of the new cases, or 2,118 (46%), were reported among individuals aged 25 to 34 years old.\nThis was followed by individuals aged 15 to 24 years old, with 1,443 new cases or 31% of the total.\nOther age groups also recorded new cases: 845 (18%) among individuals aged 35 to 49 years old, 116 (3%) among those aged 50 years and older, and 23 (<1%) among individuals younger than 15 years old.\nThe DoH said this brought the country\u2019s median age of new HIV cases to 28 years old.\nOf the total recorded new cases, 24% or 1,104 were diagnosed with advanced HIV disease at the time of diagnosis.\nIn terms of geographic distribution, the National Capital Region logged the highest number of cases at 989 (21%), followed by Region IV-A with 808 (17%), and Region III with 551 (12%).\nNew cases were also reported in Region XII (277), Region XI (263), Region VII (228), Region VI (216), Region I (191), Region X (183), Region V (158), Region IX (137), the Negros Island Region (133), and Region II (108), as well as in Region IV-B and VIII (101), CARAGA (84), BARMM (42), and CAR (37).\nThe DoH said the mode of transmission for new HIV cases remains primarily through sexual contact, accounting for 4,214 cases (91%), including 3,095 among males who have sex with males and 567 among individuals who engaged in both male-to-male and male-to-female sexual contact.\nWhile no definitive cure is currently available, the DoH earlier said that people living with HIV undergo antiretroviral therapy (ART), which \u201cslows down and virtually halts the progression\u201d of the disease. People living with HIV on ART may still live long and healthy lives.\nFor prevention, the DoH urged the public to practice safe sex and to use pre-exposure prophylaxis (PrEP) for individuals at high risk of infection.\u2014 Edg Adrian A. Eva", "date_published": "2026-05-22T13:33:07+08:00", "date_modified": "2026-05-22T13:33:07+08:00", "authors": [ { "name": "大象传媒", "url": "/author/agarwalekwensi/", "avatar": "https://secure.gravatar.com/avatar/63a6222a994ecdcd0783bb257b7c4e6d18b49dfa789dd168af5420ab8a45082c?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/agarwalekwensi/", "avatar": "https://secure.gravatar.com/avatar/63a6222a994ecdcd0783bb257b7c4e6d18b49dfa789dd168af5420ab8a45082c?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2024/12/hiv-and-aids.jpg", "tags": [ "Edg Adrian A. Eva", "The Nation" ] }, { "id": "/?p=751453", "url": "/technology/2026/05/22/751453/enterprise-wide-adoption-of-ai-coming-soon-says-boomi/", "title": "Enterprise-wide adoption of AI coming soon, says Boomi", "content_html": "By Cathy Rose A. Garcia, Editor-in-Chief
\nCHICAGO – Developments in artificial intelligence (AI) are accelerating at exponential rates, and companies are expected to adopt AI at a faster pace in the next few months, according to data activation company Boomi.
\n“I think we are going to start seeing enterprise-wide adoption of AI. I think we’ve reached a point where we understand the risks, we understand the value,” Dan McAllister, senior vice president of global alliances and channels at Boomi, told 大象传媒 on the sidelines of Boomi World here on May 13.
\n“We understand the cost model. And it’s matured enough where companies can actually start making real decisions based on RoI (return on investment), based on risk profile, based on tasks that they want to have accomplished,” he added.
\nMr. McAllister said Boomi’s role is to help companies achieve all these things as it provides a strategic foundation for integration, application programming interfaces (API), data, automation, and agentic AI.
\n“I think technology has caught up to the outcomes that customers want to achieve. We’ve seen enough to now take some action. You’re going to see some people take some bets and put this out in the market. Of course, there will be those that left behind. There will be ones that go too fast. But we’re going to start seeing some real success,” he said.
\nAs VP for global alliances and channels, Mr. McAllister’s role is to manage the company’s go-to-market partnerships and commercialized partnerships. This includes systems integrator relationships, product alliances, and OEM (original equipment manufacturer) partners that package Boomi within their own solutions.
\nBoomi currently has around 300 OEM partners, and around 400 active systems integration partners.
\nMr. McAllister said Boomi is already a very successful company with hundreds of partners that were successful in their go-to-market strategy.
\n“I felt that we could leverage that as well as modify it a bit to really help the business grow… Our win rate is three times of what it is when we work alone. And so it’s when you think about what kind of an impact a partner can have, that’s pretty impressive,” he said.
\nIn selecting partners, Mr. McAllister said Boomi is looking for companies that are “bringing value to their customers and are essentially winning on their own”.
\n“But we can provide value to them within their go-to-market strategy,” he added.
\nFor systems integration partners, he said they are looking for those with technical or industry expertise.
\n“We look for partners who have that (expertise) because now they can apply our solution to the problem. It’s a bit like we give them the raw materials, they build the house,” he said.
\nAmong the recent announcements at Boomi World, Mr. McAllister highlighted Boomi Companion and Boomi Connect as the most notable developments.
\nBoomi Companion aims to accelerate agentic engineering on the Boomi enterprise platform. Developers can now design, build, test, deploy, and diagnose integrations through natural language using their preferred AI tools.
\nBoomi Connect provides secure, governed connectivity between AI tools such as Claude, Copilot and Gemini, and enterprise applications through managed, Model Context Protocol (MCP)-enabled tools.
\nCUSTOMER EXPERIENCE
\nMeanwhile, Serco, a leading public services organization, has modernized its operations by leveraging Boomi AI agents and accelerating enterprise-wide integration initiatives.
Kiran Narayan, director for products and digital capabilities at Serco Australia, said the company was already using Boomi when they discovered that powerful AI capabilities were already available within the platform.
\nIn an interview on the sidelines of Boomi World, Mr. Narayan said they were privy to the early access program for AgentStudio, and they started experimenting on the different agents.
\n“Boomi’s integration also has had a lot of improvements through the process. We have had significant recalibration of our processes… It created more efficiency,” he said.
\nWith Boomi, Serco has significantly lowered integration complexity and time-to-delivery. Using Boomi Scribe, Serco said that documentation that once required 40-60 hours now takes only 6-12 hours. Individual documentation tasks dropped to 15 minutes from three hours previously.
\nMr. Narayan said Boomi has a “very good support system” for customers like Serco.
\n“Boomi clearly differentiates itself with a very positive approach and culture in helping every customer, regardless of the size, regardless of where they are around the globe, with the best possible team equipped to support,” he said.
\nMr. Narayan said he is very excited about the new innovations such as Boomi Orchestrate and Boomi Companion.
\n“I’m a technologist at heart. I’m seeing so many possibilities,” he said.
\n", "content_text": "By Cathy Rose A. Garcia, Editor-in-Chief\nCHICAGO – Developments in artificial intelligence (AI) are accelerating at exponential rates, and companies are expected to adopt AI at a faster pace in the next few months, according to data activation company Boomi.\n“I think we are going to start seeing enterprise-wide adoption of AI. I think we’ve reached a point where we understand the risks, we understand the value,” Dan McAllister, senior vice president of global alliances and channels at Boomi, told 大象传媒 on the sidelines of Boomi World here on May 13.\n“We understand the cost model. And it’s matured enough where companies can actually start making real decisions based on RoI (return on investment), based on risk profile, based on tasks that they want to have accomplished,” he added.\nMr. McAllister said Boomi’s role is to help companies achieve all these things as it provides a strategic foundation for integration, application programming interfaces (API), data, automation, and agentic AI.\n“I think technology has caught up to the outcomes that customers want to achieve. We’ve seen enough to now take some action. You’re going to see some people take some bets and put this out in the market. Of course, there will be those that left behind. There will be ones that go too fast. But we’re going to start seeing some real success,” he said.\nAs VP for global alliances and channels, Mr. McAllister’s role is to manage the company’s go-to-market partnerships and commercialized partnerships. This includes systems integrator relationships, product alliances, and OEM (original equipment manufacturer) partners that package Boomi within their own solutions.\nBoomi currently has around 300 OEM partners, and around 400 active systems integration partners.\nMr. McAllister said Boomi is already a very successful company with hundreds of partners that were successful in their go-to-market strategy.\n“I felt that we could leverage that as well as modify it a bit to really help the business grow… Our win rate is three times of what it is when we work alone. And so it’s when you think about what kind of an impact a partner can have, that’s pretty impressive,” he said.\nIn selecting partners, Mr. McAllister said Boomi is looking for companies that are “bringing value to their customers and are essentially winning on their own”.\n“But we can provide value to them within their go-to-market strategy,” he added.\nFor systems integration partners, he said they are looking for those with technical or industry expertise.\n“We look for partners who have that (expertise) because now they can apply our solution to the problem. It’s a bit like we give them the raw materials, they build the house,” he said.\nAmong the recent announcements at Boomi World, Mr. McAllister highlighted Boomi Companion and Boomi Connect as the most notable developments.\nBoomi Companion aims to accelerate agentic engineering on the Boomi enterprise platform. Developers can now design, build, test, deploy, and diagnose integrations through natural language using their preferred AI tools.\nBoomi Connect provides secure, governed connectivity between AI tools such as Claude, Copilot and Gemini, and enterprise applications through managed, Model Context Protocol (MCP)-enabled tools.\nCUSTOMER EXPERIENCE\nMeanwhile, Serco, a leading public services organization, has modernized its operations by leveraging Boomi AI agents and accelerating enterprise-wide integration initiatives.\nKiran Narayan, director for products and digital capabilities at Serco Australia, said the company was already using Boomi when they discovered that powerful AI capabilities were already available within the platform.\nIn an interview on the sidelines of Boomi World, Mr. Narayan said they were privy to the early access program for AgentStudio, and they started experimenting on the different agents.\n“Boomi’s integration also has had a lot of improvements through the process. We have had significant recalibration of our processes… It created more efficiency,” he said.\nWith Boomi, Serco has significantly lowered integration complexity and time-to-delivery. Using Boomi Scribe, Serco said that documentation that once required 40-60 hours now takes only 6-12 hours. Individual documentation tasks dropped to 15 minutes from three hours previously.\nMr. Narayan said Boomi has a “very good support system” for customers like Serco.\n“Boomi clearly differentiates itself with a very positive approach and culture in helping every customer, regardless of the size, regardless of where they are around the globe, with the best possible team equipped to support,” he said.\nMr. Narayan said he is very excited about the new innovations such as Boomi Orchestrate and Boomi Companion.\n“I’m a technologist at heart. I’m seeing so many possibilities,” he said.", "date_published": "2026-05-22T11:07:52+08:00", "date_modified": "2026-05-22T11:07:52+08:00", "authors": [ { "name": "大象传媒", "url": "/author/agarwalekwensi/", "avatar": "https://secure.gravatar.com/avatar/63a6222a994ecdcd0783bb257b7c4e6d18b49dfa789dd168af5420ab8a45082c?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/agarwalekwensi/", "avatar": "https://secure.gravatar.com/avatar/63a6222a994ecdcd0783bb257b7c4e6d18b49dfa789dd168af5420ab8a45082c?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/Boomi2.jpg", "tags": [ "Cathy Rose A. Garcia", "Corporate", "Technology" ] }, { "id": "/?p=751507", "url": "/spotlight/2026/05/22/751507/call-center-philippines-the-fortune-500-vendor-selection-playbook/", "title": "Call Center Philippines: The Fortune 500 Vendor Selection Playbook", "content_html": "The 6-Phase Protocol That Reduces Outsourcing Failure to Near Zero
\nOver 65% of SME outsourcing initiatives\u00a0fail to\u00a0achieve their stated financial or customer experience\u00a0objectives. Fortune 500 corporations\u00a0operate\u00a0under a completely different paradigm \u2014 a structured 6-Phase procurement protocol that reduces operational failure to near zero. This is the full framework.
\nThe standard approach to offshore call center selection among small and medium enterprises closely mirrors the process of purchasing a commodity service. An executive submits contact credentials to an online aggregator or a handful of visible Philippine BPOs. Within days, three to five generalized price quotes arrive. A few introductory calls are scheduled. The final outsourcing decision is made based on superficial variables: who presented the most polished sales deck, who felt most trustworthy on camera, or who offered the lowest hourly rate.\u00a0
\nWhile this reactive approach works for commoditized utilities, applying it to offshore Business Process Outsourcing is mathematically catastrophic. When an organization treats a strategic operational integration like a transactional vendor purchase, they enter an unmitigated game of operational Russian roulette \u2014 and the house always wins.
\nWhy Are the Most Visible Philippine BPO Providers the Wrong Choice for SME Buyers?
\nThe most visible Philippine BPOs \u2014 those dominating search results, directories, and broker recommendations \u2014 employ between 20,000 and 100,000 staff and are built exclusively for Fortune 500-scale programs. An SME outsourcing 10 to 100 seats is operationally invisible to these providers, assigned to junior teams, and deprioritized against larger accounts.
\nThe Philippine BPO industry employs 1.9 million professionals across more than 1,000 registered companies \u2014 but the top 50 providers account for an estimated 70% of total industry employment and revenue. The providers with the highest visibility and the most polished sales operations are precisely the providers for whom an SME engagement is operationally irrelevant.\u00a0\u00a0
\nThis is\u00a0The Visibility Trap.
\n
Why Do Over 65% of SME Philippine Outsourcing Initiatives Fail \u2014 While Fortune 500 Programs Succeed?
\nSME outsourcing initiatives fail at over 65% because they select vendors through reactive, transactional processes \u2014 price quotes, Zoom calls, and sales decks \u2014 rather than structured evaluation architecture. The failure rate is not a Philippine vendor quality problem. It is a procurement methodology problem.
\n![\"\"](\"/wp-content/uploads/2026/05/Table-002-OL.jpg\")
Sales Deck Asymmetry:\u00a0The measurable delta between what a BPO\u2019s sales team promises in a pitch and the actual operational capacity of the team assigned to the account post-contracting. The primary mechanism by which SME outsourcing engagements fail within their first 90 days.
\nProcurement Drift:\u00a0The gradual alignment of a client organization\u2019s operations with a vendor\u2019s internal limitations rather than the client\u2019s own corporate goals \u2014 a slow, invisible erosion of expected value that never generates a formal failure event.
\n![\"\"](\"/wp-content/uploads/2026/05/John-Maczynski-OL.jpg\")
According to John Maczynski, CEO of\u00a0PITON-Global and the former global EVP of the world\u2019s largest contact center outsourcing provider, \u201cIn 40 years in this industry, I have seen the same failure pattern repeat across hundreds of SME outsourcing engagements: a buyer selects a vendor based on a 45-minute Zoom call and a slide deck designed by a sales team that will never manage the account. The operations team they meet in Month 3 is entirely different from the team they evaluated. Sales Deck Asymmetry is not a vendor dishonesty problem \u2014 it is a procurement architecture problem. The Fortune 500 protocol is specifically engineered to eliminate it before a contract is signed.\u201d
What Is the Fortune 500 Protocol for Selecting a Philippine Call Center Partner?
\nThe Fortune 500 protocol is a structured 6-phase, 12-week procurement lifecycle. Each phase eliminates a specific failure mode that the standard SME approach leaves open. For smaller, less mission-critical engagements under 20 FTEs, the process can be compressed to as little as 4 weeks.
\n![\"\"](\"/wp-content/uploads/2026/05/Table-003-OL-765x1024.jpg\")
![\"\"](\"/wp-content/uploads/2026/05/Ralf-Ellspermann-OL.jpg\")
Ralf Ellspermann, CSO of PITON-Global and a 25-year veteran of Philippine outsourcing operations, on what the protocol reveals: \u201cThe unannounced audit in Phase 4 is where vendor selection is truly made or broken. In 25 years of evaluating Philippine BPO providers, I have seen impeccable RFI/RFP responses and polished executive presentations fall apart completely when we walked the floor unannounced and spoke directly with the team leaders who would\u00a0actually run\u00a0the account. The Fortune 500 protocol is not bureaucratic overhead \u2014 it is the only mechanism that\u00a0eliminates Sales Deck Asymmetry before it becomes a contractual dispute.\u201d
What Is Procurement Drift \u2014 and Why Is It More Dangerous Than\u00a0an Outright\u00a0Outsourcing Failure?
\nProcurement Drift is the gradual alignment of a client\u2019s operations with a vendor\u2019s internal limitations rather than the client\u2019s own goals. It is more dangerous than an outright failure because it is invisible: the vendor hits 94% of SLA targets \u2014 close enough to avoid escalation, too low to deliver the ROI the engagement was justified on.
\nProcurement Drift manifests as acceptable CSAT scores masking eroding institutional knowledge, agent turnover within permitted contractual bands slowly degrading delivery quality, and a vendor quietly deprioritizing the client\u2019s account once a larger contract arrives. No crisis. No formal failure event. Just a slow, compounding tax on the value the outsourcing program was supposed to create.
\nThe predictive SLA/KPI governance frameworks\u00a0established\u00a0in Phase 5 are the only structural defense \u2014 detecting the leading indicators of misalignment, not the lagging ones. A vendor trending toward a missed target in Week 8 generates an automated alert. A vendor\u00a0operating\u00a0under an SME hourly contract generates an invoice.
\nEllspermann on what Procurement Drift costs in practice: \u201cWe have taken on clients who came to us after two or three years with a vendor they never formally fired \u2014 because the vendor never formally failed. The CSAT was acceptable. But the ROI that justified the outsourcing decision had quietly evaporated. That is Procurement Drift. The governance frameworks in our protocol exist specifically to make the invisible visible \u2014 before it becomes irreversible.\u201d
\nFor a Philippine call center outsourcing initiative to deliver sustained enterprise value, the vendor search must shift from an exercise in finding the lowest hourly price point to a meticulous engineering project designed to eliminate operational friction. Structural resilience, Sales Deck Asymmetry elimination, and Procurement Drift prevention are achieved only through the rigorous, uncompromised execution of a 6-phase selection protocol \u2014 and the institutional advisory expertise to run it.
\nMaczynski\u00a0on\u00a0what PITON-Global\u2019s\u00a0advisory model gives service buyers: \u201cMost SMEs do not have experienced BPO procurement resources in-house. That is the institutional knowledge gap that kills outsourcing programs before they start \u2014 and it is precisely what PITON-Global provides. We give smaller organizations access to the same forensic vendor selection expertise typically found only inside globally operating corporations with large, dedicated procurement divisions. And we do it at no cost and without any obligation to the client.
\n\n
Spotlight is 大象传媒\u2019s sponsored section that allows advertisers to amplify their brand and connect with 大象传媒\u2019s audience by publishing their stories on the 大象传媒 Web site. For more information, send an email to\u00a0online@bworldonline.com.
\nJoin us on Viber at\u00a0https://bit.ly/3hv6bLA\u00a0to get more updates and subscribe to 大象传媒\u2019s titles and get exclusive content through\u00a0www.bworld-x.com.
\n", "content_text": "The 6-Phase Protocol That Reduces Outsourcing Failure to Near Zero\nOver 65% of SME outsourcing initiatives\u00a0fail to\u00a0achieve their stated financial or customer experience\u00a0objectives. Fortune 500 corporations\u00a0operate\u00a0under a completely different paradigm \u2014 a structured 6-Phase procurement protocol that reduces operational failure to near zero. This is the full framework.\nThe standard approach to offshore call center selection among small and medium enterprises closely mirrors the process of purchasing a commodity service. An executive submits contact credentials to an online aggregator or a handful of visible Philippine BPOs. Within days, three to five generalized price quotes arrive. A few introductory calls are scheduled. The final outsourcing decision is made based on superficial variables: who presented the most polished sales deck, who felt most trustworthy on camera, or who offered the lowest hourly rate.\u00a0\nWhile this reactive approach works for commoditized utilities, applying it to offshore Business Process Outsourcing is mathematically catastrophic. When an organization treats a strategic operational integration like a transactional vendor purchase, they enter an unmitigated game of operational Russian roulette \u2014 and the house always wins.\nWhy Are the Most Visible Philippine BPO Providers the Wrong Choice for SME Buyers?\nThe most visible Philippine BPOs \u2014 those dominating search results, directories, and broker recommendations \u2014 employ between 20,000 and 100,000 staff and are built exclusively for Fortune 500-scale programs. An SME outsourcing 10 to 100 seats is operationally invisible to these providers, assigned to junior teams, and deprioritized against larger accounts.\nThe Philippine BPO industry employs 1.9 million professionals across more than 1,000 registered companies \u2014 but the top 50 providers account for an estimated 70% of total industry employment and revenue. The providers with the highest visibility and the most polished sales operations are precisely the providers for whom an SME engagement is operationally irrelevant.\u00a0\u00a0\nThis is\u00a0The Visibility Trap.\n\nWhy Do Over 65% of SME Philippine Outsourcing Initiatives Fail \u2014 While Fortune 500 Programs Succeed?\nSME outsourcing initiatives fail at over 65% because they select vendors through reactive, transactional processes \u2014 price quotes, Zoom calls, and sales decks \u2014 rather than structured evaluation architecture. The failure rate is not a Philippine vendor quality problem. It is a procurement methodology problem.\n\nSales Deck Asymmetry:\u00a0The measurable delta between what a BPO\u2019s sales team promises in a pitch and the actual operational capacity of the team assigned to the account post-contracting. The primary mechanism by which SME outsourcing engagements fail within their first 90 days.\nProcurement Drift:\u00a0The gradual alignment of a client organization\u2019s operations with a vendor\u2019s internal limitations rather than the client\u2019s own corporate goals \u2014 a slow, invisible erosion of expected value that never generates a formal failure event.\nAccording to John Maczynski, CEO of\u00a0PITON-Global and the former global EVP of the world\u2019s largest contact center outsourcing provider, \u201cIn 40 years in this industry, I have seen the same failure pattern repeat across hundreds of SME outsourcing engagements: a buyer selects a vendor based on a 45-minute Zoom call and a slide deck designed by a sales team that will never manage the account. The operations team they meet in Month 3 is entirely different from the team they evaluated. Sales Deck Asymmetry is not a vendor dishonesty problem \u2014 it is a procurement architecture problem. The Fortune 500 protocol is specifically engineered to eliminate it before a contract is signed.\u201d\nWhat Is the Fortune 500 Protocol for Selecting a Philippine Call Center Partner?\nThe Fortune 500 protocol is a structured 6-phase, 12-week procurement lifecycle. Each phase eliminates a specific failure mode that the standard SME approach leaves open. For smaller, less mission-critical engagements under 20 FTEs, the process can be compressed to as little as 4 weeks.\n\nRalf Ellspermann, CSO of PITON-Global and a 25-year veteran of Philippine outsourcing operations, on what the protocol reveals: \u201cThe unannounced audit in Phase 4 is where vendor selection is truly made or broken. In 25 years of evaluating Philippine BPO providers, I have seen impeccable RFI/RFP responses and polished executive presentations fall apart completely when we walked the floor unannounced and spoke directly with the team leaders who would\u00a0actually run\u00a0the account. The Fortune 500 protocol is not bureaucratic overhead \u2014 it is the only mechanism that\u00a0eliminates Sales Deck Asymmetry before it becomes a contractual dispute.\u201d\nWhat Is Procurement Drift \u2014 and Why Is It More Dangerous Than\u00a0an Outright\u00a0Outsourcing Failure?\nProcurement Drift is the gradual alignment of a client\u2019s operations with a vendor\u2019s internal limitations rather than the client\u2019s own goals. It is more dangerous than an outright failure because it is invisible: the vendor hits 94% of SLA targets \u2014 close enough to avoid escalation, too low to deliver the ROI the engagement was justified on.\nProcurement Drift manifests as acceptable CSAT scores masking eroding institutional knowledge, agent turnover within permitted contractual bands slowly degrading delivery quality, and a vendor quietly deprioritizing the client\u2019s account once a larger contract arrives. No crisis. No formal failure event. Just a slow, compounding tax on the value the outsourcing program was supposed to create.\nThe predictive SLA/KPI governance frameworks\u00a0established\u00a0in Phase 5 are the only structural defense \u2014 detecting the leading indicators of misalignment, not the lagging ones. A vendor trending toward a missed target in Week 8 generates an automated alert. A vendor\u00a0operating\u00a0under an SME hourly contract generates an invoice.\nEllspermann on what Procurement Drift costs in practice: \u201cWe have taken on clients who came to us after two or three years with a vendor they never formally fired \u2014 because the vendor never formally failed. The CSAT was acceptable. But the ROI that justified the outsourcing decision had quietly evaporated. That is Procurement Drift. The governance frameworks in our protocol exist specifically to make the invisible visible \u2014 before it becomes irreversible.\u201d\nFor a Philippine call center outsourcing initiative to deliver sustained enterprise value, the vendor search must shift from an exercise in finding the lowest hourly price point to a meticulous engineering project designed to eliminate operational friction. Structural resilience, Sales Deck Asymmetry elimination, and Procurement Drift prevention are achieved only through the rigorous, uncompromised execution of a 6-phase selection protocol \u2014 and the institutional advisory expertise to run it.\nMaczynski\u00a0on\u00a0what PITON-Global\u2019s\u00a0advisory model gives service buyers: \u201cMost SMEs do not have experienced BPO procurement resources in-house. That is the institutional knowledge gap that kills outsourcing programs before they start \u2014 and it is precisely what PITON-Global provides. We give smaller organizations access to the same forensic vendor selection expertise typically found only inside globally operating corporations with large, dedicated procurement divisions. And we do it at no cost and without any obligation to the client.\n \n\nSpotlight is 大象传媒\u2019s sponsored section that allows advertisers to amplify their brand and connect with 大象传媒\u2019s audience by publishing their stories on the 大象传媒 Web site. For more information, send an email to\u00a0online@bworldonline.com.\nJoin us on Viber at\u00a0https://bit.ly/3hv6bLA\u00a0to get more updates and subscribe to 大象传媒\u2019s titles and get exclusive content through\u00a0www.bworld-x.com.", "date_published": "2026-05-22T11:00:01+08:00", "date_modified": "2026-05-22T16:39:53+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/65-OL.jpg", "tags": [ "Spotlight" ] }, { "id": "/?p=751349", "url": "/top-stories/2026/05/22/751349/bsp-considering-off-cycle-rate-hike-as-inflation-risks-worsen/", "title": "BSP \u2018considering\u2019 off-cycle rate hike as inflation risks worsen", "content_html": "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=751345", "url": "/top-stories/2026/05/22/751345/instapay-pesonet-transactions-top-p10-trillion-at-end-april/", "title": "InstaPay, PESONet transactions top P10 trillion at end-April", "content_html": "DIGITAL PAYMENTS continued to expand in the Philippines as transactions made via InstaPay and PESONet reached a total value of over P10 trillion as of April, data from the Bangko Sentral ng Pilipinas (BSP) showed.
\nIn the first four months of the year, the combined value of InstaPay and PESONet transfers amounted to P10.388 trillion, up 45.38% from the P7.145 trillion seen in the year-ago period.
\nMeanwhile, more users turned cashless as the volume of transactions made through the two payment gateways more than tripled (225.1%) year on year to 2.721 billion as of April from 837.118 million previously.
\nBroken down, the value of InstaPay transactions jumped by 62.71% to P5.093 trillion from P3.13 trillion a year ago.
\nThis came as the clearing house recorded a surge in the volume of transactions during the period, which soared by 234.95% to 2.68 billion from 799.971 million in the prior year.
\nOn the other hand, transfers done via PESONet stood at a total value of P5.295 trillion at end-April, 31.88% higher than the P4.015 trillion posted in the same period last year.
\nThe volume of PESONet transactions also went up by an annual 12.89% to 41.938 million in the four-month period from 37.148 million previously.
\nInstaPay and PESONet are automated clearing houses under the central bank\u2019s National Retail Payment System framework.
\nInstaPay is a real-time, low-value electronic fund transfer facility for transactions up to P50,000 and is mostly used for remittances and e-commerce.
\nMeanwhile, PESONet is mainly used for high-value transactions and may be considered as an electronic alternative to paper-based checks.
\nAs of April, there are 94 InstaPay participants, most of which are nonbank electronic money issuers. PESONet has a total of 124 participants, with the bulk being universal and commercial banks.
\nThe BSP wants digital payments to make up 60%-70% of the total volume of retail payments by 2028 in line with the Philippine Development Plan.
\nIn 2024, online payments made up 57.4% of the volume and 59% of the value of the country\u2019s total monthly retail transactions, according to the BSP\u2019s 2024 Status of Digital Payments in the Philippines report. \u2014 Katherine K. Chan
\n", "content_text": "DIGITAL PAYMENTS continued to expand in the Philippines as transactions made via InstaPay and PESONet reached a total value of over P10 trillion as of April, data from the Bangko Sentral ng Pilipinas (BSP) showed.\nIn the first four months of the year, the combined value of InstaPay and PESONet transfers amounted to P10.388 trillion, up 45.38% from the P7.145 trillion seen in the year-ago period.\nMeanwhile, more users turned cashless as the volume of transactions made through the two payment gateways more than tripled (225.1%) year on year to 2.721 billion as of April from 837.118 million previously.\nBroken down, the value of InstaPay transactions jumped by 62.71% to P5.093 trillion from P3.13 trillion a year ago.\nThis came as the clearing house recorded a surge in the volume of transactions during the period, which soared by 234.95% to 2.68 billion from 799.971 million in the prior year.\nOn the other hand, transfers done via PESONet stood at a total value of P5.295 trillion at end-April, 31.88% higher than the P4.015 trillion posted in the same period last year. \nThe volume of PESONet transactions also went up by an annual 12.89% to 41.938 million in the four-month period from 37.148 million previously.\nInstaPay and PESONet are automated clearing houses under the central bank\u2019s National Retail Payment System framework.\nInstaPay is a real-time, low-value electronic fund transfer facility for transactions up to P50,000 and is mostly used for remittances and e-commerce.\nMeanwhile, PESONet is mainly used for high-value transactions and may be considered as an electronic alternative to paper-based checks.\nAs of April, there are 94 InstaPay participants, most of which are nonbank electronic money issuers. PESONet has a total of 124 participants, with the bulk being universal and commercial banks.\nThe BSP wants digital payments to make up 60%-70% of the total volume of retail payments by 2028 in line with the Philippine Development Plan.\nIn 2024, online payments made up 57.4% of the volume and 59% of the value of the country\u2019s total monthly retail transactions, according to the BSP\u2019s 2024 Status of Digital Payments in the Philippines report. \u2014 Katherine K. Chan", "date_published": "2026-05-22T00:31:50+08:00", "date_modified": "2026-05-21T20:41:26+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/photo-1571867424488-4565932edb41-e1714070119866.jpg", "tags": [ "Katherine K. Chan", "One News", "大象传媒" ] }, { "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=751358", "url": "/corporate/2026/05/22/751358/rlc-led-jv-breaks-ground-on-clark-fedex-facility/", "title": "RLC-led JV breaks ground on Clark FedEx facility", "content_html": "ROBINSONS Logistix and Industrials, Inc. (RLX) and Asian Infrastructure Holdings Corp. (AIHC) have broken ground on a build-to-suit logistics facility for FedEx Corp. in Pampanga.
\n\u201cThis partnership reflects Robinsons Land\u2019s commitment to developing well-located, future-ready logistics facilities that support the growth requirements of world-class companies such as FedEx,\u201d RLX General Manager Cora Ang Ley said in a statement on Thursday.
\nThe facility will rise on an estimated 15-hectare site within Clark International Airport (CRK) and will have a gross floor area of around 78,000 square meters. Completion is targeted by the first quarter of 2028.
\nGroundbreaking for the project was held on May 19.
\nThe facility will be developed by RL Clark Logistix, Inc. (RCLX), a joint venture (JV) between Robinsons Land Corp. (RLC) and AIHC.
\nRLC holds an 85% stake in the venture, while AIHC owns the remaining 15%.
\nThe project is being undertaken in coordination with the Bases Conversion and Development Authority, Clark Development Corp., and Luzon International Premiere Airport Development Corp., the operator of CRK.
\n\u201cThrough RCLX, we are building in Clark with a long-term view of operational efficiency, network expansion, and the growing role of the Philippines in regional trade and logistics,\u201d Ms. Ley said.
\nThe upcoming facility is expected to strengthen Robinsons Land\u2019s logistics and industrial footprint in a corridor supported by cargo movement, aviation activity, and regional distribution links.
\nRLC said the project supports its broader strategy of expanding investment properties and diversifying recurring income streams through RLX.
\nDuring its annual stockholders\u2019 meeting, RLC reported consolidated revenues of P12.28 billion and first-quarter net income of P4.4 billion, driven by its property portfolio and improved contributions from its development businesses.
\nIts investment portfolio remained the company\u2019s primary earnings driver, with revenues rising 8% year on year to P9.2 billion and earnings before interest, taxes, depreciation, and amortization (EBITDA) increasing 4% to P5.6 billion.
\nMeanwhile, revenues from its development portfolio climbed 22% to P3.1 billion, while EBITDA rose 7% to P1 billion due to improved project execution and revenue recognition.
\nCapital expenditures in the first quarter stood at P3.25 billion, slightly higher than P3.23 billion recorded a year earlier. \u2014 Juliana Chloe A. Gonzales
\n", "content_text": "ROBINSONS Logistix and Industrials, Inc. (RLX) and Asian Infrastructure Holdings Corp. (AIHC) have broken ground on a build-to-suit logistics facility for FedEx Corp. in Pampanga.\n\u201cThis partnership reflects Robinsons Land\u2019s commitment to developing well-located, future-ready logistics facilities that support the growth requirements of world-class companies such as FedEx,\u201d RLX General Manager Cora Ang Ley said in a statement on Thursday.\nThe facility will rise on an estimated 15-hectare site within Clark International Airport (CRK) and will have a gross floor area of around 78,000 square meters. Completion is targeted by the first quarter of 2028.\nGroundbreaking for the project was held on May 19.\nThe facility will be developed by RL Clark Logistix, Inc. (RCLX), a joint venture (JV) between Robinsons Land Corp. (RLC) and AIHC.\nRLC holds an 85% stake in the venture, while AIHC owns the remaining 15%.\nThe project is being undertaken in coordination with the Bases Conversion and Development Authority, Clark Development Corp., and Luzon International Premiere Airport Development Corp., the operator of CRK.\n\u201cThrough RCLX, we are building in Clark with a long-term view of operational efficiency, network expansion, and the growing role of the Philippines in regional trade and logistics,\u201d Ms. Ley said.\nThe upcoming facility is expected to strengthen Robinsons Land\u2019s logistics and industrial footprint in a corridor supported by cargo movement, aviation activity, and regional distribution links.\nRLC said the project supports its broader strategy of expanding investment properties and diversifying recurring income streams through RLX.\nDuring its annual stockholders\u2019 meeting, RLC reported consolidated revenues of P12.28 billion and first-quarter net income of P4.4 billion, driven by its property portfolio and improved contributions from its development businesses.\nIts investment portfolio remained the company\u2019s primary earnings driver, with revenues rising 8% year on year to P9.2 billion and earnings before interest, taxes, depreciation, and amortization (EBITDA) increasing 4% to P5.6 billion.\nMeanwhile, revenues from its development portfolio climbed 22% to P3.1 billion, while EBITDA rose 7% to P1 billion due to improved project execution and revenue recognition.\nCapital expenditures in the first quarter stood at P3.25 billion, slightly higher than P3.23 billion recorded a year earlier. \u2014 Juliana Chloe A. Gonzales", "date_published": "2026-05-22T00:08:04+08:00", "date_modified": "2026-05-21T20:19:11+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/ROBINSONS.jpg", "tags": [ "Juliana Chloe A. Gonzales", "Corporate" ] }, { "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=751357", "url": "/corporate/2026/05/22/751357/fni-profit-jumps-on-higher-nickel-ore-prices-shipments/", "title": "FNI profit jumps on higher nickel ore prices, shipments", "content_html": "LISTED miner Global Ferronickel Holdings, Inc. (FNI) posted a sharp increase in first-quarter (Q1) earnings, driven by higher nickel ore prices and increased shipment volumes from its Palawan operations.
\nIn a statement on Thursday, the company said attributable net income surged 169.6% to P478 million from P177.3 million a year earlier, while revenues rose 36.6% to P1.646 billion from P1.205 billion.
\n\u201cOur Palawan operations delivered a strong start to the year, supported by continued operational optimization, enhanced mine planning, and disciplined execution across our operations,\u201d FNI President Dante R. Bravo said.
\nMining revenues from the company\u2019s Palawan operations climbed 36.4% to P1.644 billion during the quarter, driven by higher nickel ore prices and shipment volumes.
\nTotal shipments increased 8.9% to 550,632 wet metric tons (WMT) from 505,459 WMT a year earlier.
\nFNI said its sales mix during the quarter consisted of 80% medium-grade and 20% low-grade nickel ore, compared with entirely medium-grade shipments in the same period last year. All shipments in both periods were sold to customers in China.
\nAverage realized nickel ore prices rose 23% to $50.57 per WMT from $41.13 per WMT, which the company attributed to tighter nickel ore supply following production quota restrictions in Indonesia and higher industry costs linked to tensions in the Middle East.
\n\u201cDespite global and industry-wide cost pressures, we remained focused on improving productivity, maintaining operational readiness, and advancing initiatives that strengthen efficiency and support our long-term growth objectives,\u201d Mr. Bravo said.
\nCost of sales for the January-to-March period increased 2.2% to P544.2 million from P532.3 million a year earlier due to higher production and shipment volumes.
\nOperating expenses, including excise taxes and royalties, general and administrative expenses, and shipping and distribution costs, rose 22.4% to P530.2 million from P433.3 million in the same period last year.
\nThe increase was mainly attributed to higher excise taxes and shipping expenses linked to larger shipment volumes, partly offset by an input value-added tax impairment provision recognized in the prior year.
\nFNI said it remains focused on technology adoption, resource expansion, and cost management to strengthen operations and respond to changing nickel market conditions.
\nThe company added that the start of the Surigao mining season in the second quarter is expected to support operations and contribute to overall performance this year. \u2014 Alexandria Grace C. Magno
\n", "content_text": "LISTED miner Global Ferronickel Holdings, Inc. (FNI) posted a sharp increase in first-quarter (Q1) earnings, driven by higher nickel ore prices and increased shipment volumes from its Palawan operations.\nIn a statement on Thursday, the company said attributable net income surged 169.6% to P478 million from P177.3 million a year earlier, while revenues rose 36.6% to P1.646 billion from P1.205 billion.\n\u201cOur Palawan operations delivered a strong start to the year, supported by continued operational optimization, enhanced mine planning, and disciplined execution across our operations,\u201d FNI President Dante R. Bravo said.\nMining revenues from the company\u2019s Palawan operations climbed 36.4% to P1.644 billion during the quarter, driven by higher nickel ore prices and shipment volumes.\nTotal shipments increased 8.9% to 550,632 wet metric tons (WMT) from 505,459 WMT a year earlier.\nFNI said its sales mix during the quarter consisted of 80% medium-grade and 20% low-grade nickel ore, compared with entirely medium-grade shipments in the same period last year. All shipments in both periods were sold to customers in China.\nAverage realized nickel ore prices rose 23% to $50.57 per WMT from $41.13 per WMT, which the company attributed to tighter nickel ore supply following production quota restrictions in Indonesia and higher industry costs linked to tensions in the Middle East.\n\u201cDespite global and industry-wide cost pressures, we remained focused on improving productivity, maintaining operational readiness, and advancing initiatives that strengthen efficiency and support our long-term growth objectives,\u201d Mr. Bravo said.\nCost of sales for the January-to-March period increased 2.2% to P544.2 million from P532.3 million a year earlier due to higher production and shipment volumes.\nOperating expenses, including excise taxes and royalties, general and administrative expenses, and shipping and distribution costs, rose 22.4% to P530.2 million from P433.3 million in the same period last year.\nThe increase was mainly attributed to higher excise taxes and shipping expenses linked to larger shipment volumes, partly offset by an input value-added tax impairment provision recognized in the prior year.\nFNI said it remains focused on technology adoption, resource expansion, and cost management to strengthen operations and respond to changing nickel market conditions.\nThe company added that the start of the Surigao mining season in the second quarter is expected to support operations and contribute to overall performance this year. \u2014 Alexandria Grace C. Magno", "date_published": "2026-05-22T00:07:03+08:00", "date_modified": "2026-05-21T20:18:44+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/2026/01/DJI_0926-scaled-1.jpg", "tags": [ "Alexandria Grace C. Magno", "Corporate" ] }, { "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=751356", "url": "/corporate/2026/05/22/751356/pioneer-sees-growing-demand-for-sachet-style-insurance/", "title": "Pioneer sees growing demand for \u2018sachet-style\u2019 insurance", "content_html": "SINGAPORE \u2014 Pioneer Group of Companies sees rising demand for \u201csachet-style\u201d insurance products as climate-related risks heighten vulnerabilities among low-income communities in the Philippines.
\n\u201cYou really want to empower people. You want them to take responsibility for their lives. But they can\u2019t if there\u2019s no tools,\u201d Pioneer, Inc. President and Chief Executive Officer Lorenzo O. Chan, Jr. told reporters on the sidelines of the Philanthropy Asia Summit (PAS) on Tuesday.
\nHe said affordable microinsurance products are becoming increasingly important for low-income households exposed to typhoons, flooding, crop losses, and other climate-related disruptions.
\n\u201cPeople think if I help the poor, if I insure the poor, there is no business case. [But,] there is business case,\u201d he said.
\nThe Philippines was ranked the world\u2019s most disaster-prone nation for the 21st straight year in the 2025 WorldRiskIndex by Germany\u2019s B\u00fcndnis Entwicklung Hilft and Ruhr University Bochum.
\n\u201cThere are enough insurers, there are enough needs. What we have is a lack of those willing to look beyond the business case to give it a go,\u201d Mr. Chan said.
\nPioneer\u2019s microinsurance products are primarily distributed through CARD Pioneer Microinsurance, Inc., its joint venture with CARD Mutually Reinforcing Institutions (CARD MRI).
\nIn the Philippines, the Pioneer group includes Pioneer Life, Inc., Pioneer Insurance and Surety Corp., M Pioneer Insurance, Inc. \u2014 its joint venture with Manila Electric Co. (Meralco) \u2014 and CARD MRI.
\nUnder Republic Act No. 10607, or the Insurance Code of the Philippines, microinsurance daily premiums cannot exceed 7.5% of the daily minimum wage for a non-agricultural worker in Metro Manila.
\nMr. Chan said the company plans to expand its microinsurance offerings for farmers and fisherfolk.
\nLast year, Pioneer partnered with Nestl\u00e9 Philippines to provide crop insurance for coffee farmers in Sultan Kudarat to help protect production against climate-related risks.
\nIn 2025, the group recorded 36.7 million enrollments in its microinsurance products and generated more than P4 billion in premiums.
\nAccording to Insurance Commission data, Pioneer Insurance was the top nonlife insurer last year in terms of premium income, with P6.903 billion in net premiums written. \u2014 Beatriz Marie D. Cruz
\n", "content_text": "SINGAPORE \u2014 Pioneer Group of Companies sees rising demand for \u201csachet-style\u201d insurance products as climate-related risks heighten vulnerabilities among low-income communities in the Philippines.\n\u201cYou really want to empower people. You want them to take responsibility for their lives. But they can\u2019t if there\u2019s no tools,\u201d Pioneer, Inc. President and Chief Executive Officer Lorenzo O. Chan, Jr. told reporters on the sidelines of the Philanthropy Asia Summit (PAS) on Tuesday.\nHe said affordable microinsurance products are becoming increasingly important for low-income households exposed to typhoons, flooding, crop losses, and other climate-related disruptions.\n\u201cPeople think if I help the poor, if I insure the poor, there is no business case. [But,] there is business case,\u201d he said.\nThe Philippines was ranked the world\u2019s most disaster-prone nation for the 21st straight year in the 2025 WorldRiskIndex by Germany\u2019s B\u00fcndnis Entwicklung Hilft and Ruhr University Bochum.\n\u201cThere are enough insurers, there are enough needs. What we have is a lack of those willing to look beyond the business case to give it a go,\u201d Mr. Chan said.\nPioneer\u2019s microinsurance products are primarily distributed through CARD Pioneer Microinsurance, Inc., its joint venture with CARD Mutually Reinforcing Institutions (CARD MRI).\nIn the Philippines, the Pioneer group includes Pioneer Life, Inc., Pioneer Insurance and Surety Corp., M Pioneer Insurance, Inc. \u2014 its joint venture with Manila Electric Co. (Meralco) \u2014 and CARD MRI.\nUnder Republic Act No. 10607, or the Insurance Code of the Philippines, microinsurance daily premiums cannot exceed 7.5% of the daily minimum wage for a non-agricultural worker in Metro Manila.\nMr. Chan said the company plans to expand its microinsurance offerings for farmers and fisherfolk.\nLast year, Pioneer partnered with Nestl\u00e9 Philippines to provide crop insurance for coffee farmers in Sultan Kudarat to help protect production against climate-related risks.\nIn 2025, the group recorded 36.7 million enrollments in its microinsurance products and generated more than P4 billion in premiums.\nAccording to Insurance Commission data, Pioneer Insurance was the top nonlife insurer last year in terms of premium income, with P6.903 billion in net premiums written. \u2014 Beatriz Marie D. Cruz", "date_published": "2026-05-22T00:06:02+08:00", "date_modified": "2026-05-21T20:18:20+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/rain-pedestrian-philstar.jpg", "tags": [ "Beatriz Marie D. Cruz", "Corporate" ] }, { "id": "/?p=751190", "url": "/spotlight/2026/05/22/751190/turning-sustainability-into-savings-ayala-group-helps-filipinos-navigate-high-energy-costs/", "title": "Turning sustainability into savings: Ayala Group helps Filipinos navigate high energy costs", "content_html": "As\u00a0elevated oil prices and supply disruptions continue to affect households and businesses, Ayala Corporation is mobilizing its group-wide capabilities to help cushion the impact on Filipino consumers. Through investments in sustainability and operational efficiency, the Group is enabling more stable, cost-efficient solutions across energy, mobility,\u00a0logistics, finance, and connectivity.
\u00a0
Sustainability is central to this approach, not just as a long-term goal, but as a practical way to manage today\u2019s challenges. By reducing dependence on fossil fuels and improving efficiency, Ayala companies are helping mitigate exposure to fuel price volatility while delivering tangible savings and reliability for customers.
\u00a0
\u201cSustainability continues to guide how we respond to the needs of our customers and communities, especially in times of uncertainty. By operating more efficiently and investing in cleaner, more resilient solutions, we are better able to support Filipino consumers as they navigate today\u2019s challenges,\u201d said Ayala Corporation\u00a0Chief Social Infrastructure Officer\u00a0Paolo\u00a0F.\u00a0Borromeo.
\u00a0
Investments in the energy transition are enabling more stable and affordable power for businesses and consumers. ACEN has expanded its renewable energy portfolio to 7 GW, while ACEN Renewable Energy Solutions supports institutions in shifting to cleaner power. Across Ayala, 119 facilities sourcing electricity from renewables help avoid approximately 329,000 tons of carbon emissions annually while generating over P191 million in electricity savings, helping support more sustainable cost structures for customers.
![\"\"](\"/wp-content/uploads/2026/05/1-Ayala-Sustainability-OL.jpg\")
These gains are being realized across the Group, where sustainability-driven efficiencies are strengthening operations while also translating into real value for customers. BPI now uses 100% renewable energy for 70 of its branches, while Globe has transitioned over 3,000 cell sites and smaller facilities to cleaner energy sources. By managing energy costs and reducing exposure to fuel price volatility, these initiatives help support more reliable services and more stable cost structures for consumers.
Building on these gains, the Ayala Group is extending the benefits of its sustainability efforts beyond its own operations by enabling households to directly access cleaner and more cost-efficient solutions. BPI\u2019s Green Solutions offerings provide financing for residential solar installations and electric vehicles through flexible loan terms, competitive rates, and partnerships with accredited providers that help lower upfront costs. Demand continues to grow, with BPI reporting strong uptake in green consumer loans and an electric vehicle financing portfolio of around P12 billion.
\u00a0
![\"\"](\"/wp-content/uploads/2026/05/Quezon-City-UP-Town-Center-OL-1.jpg\")
Electrified mobility is\u00a0emerging\u00a0as one of the most direct ways to help consumers manage\u00a0high\u00a0fuel costs. As\u00a0ACMobility\u00a0CEO Jaime Alfonso Zobel de Ayala emphasized, \u201cAt\u00a0ACMobility, our strategy was underpinned by a strong conviction that the cost of mobility has historically been a pain point for many Filipinos. Our view is that with the efficiency and the durability of battery technology, new energy vehicles directly address this pain point, providing retail customers with more affordable mobility options, as well as providing the broader population with innovations in energy security.\u201d
\u00a0
Demand is accelerating, with electrified vehicles accounting for 12% of new vehicle sales in 2025 and rising further in early 2026. Other things being equal,\u00a0with today\u2019s fuel prices, an EV charged at home\u00a0can deliver up to 70% savings compared to a gasoline-powered\u00a0car,\u00a0a value proposition further enhanced by the fact that EVs in general have lower maintenance costs because\u00a0of fewer moving parts and no oil changes required. Through ACMobility, Ayala is scaling this transition by expanding access to EVs and building a nationwide charging network across more than 200 locations, making cleaner and more cost-efficient transport increasingly practical for Filipino consumers.
\u00a0
This shift is increasingly visible on the ground. Through the \u201cDrive Electric. Love Pinas.\u201d campaign with the Department of Tourism, ACMobility\u00a0is\u00a0demonstrating that sustainable, electrified land travel across the Philippines is both possible and practical.
![\"\"](\"/wp-content/uploads/2026/05/3-Ayala-Sustainability-OL.jpg\")
Ayala Land is also helping consumers manage\u00a0high fuel costs through integrated, walkable communities that reduce reliance on long commutes. By bringing homes, workplaces, retail, and essential services closer together within its estates, the company helps residents save both time and transportation costs while improving everyday convenience. Many Ayala Land estates also feature transport hubs and point-to-point (P2P) routes that provide more practical and accessible mobility options for commuters.
\u00a0
Approximately 98% of Ayala Malls now\u00a0operate on renewable energy and are supported by energy-efficient systems that help manage operating costs and improve operational efficiency. Together, these initiatives contribute to more resilient developments and more sustainable, cost-efficient ways of living.
![\"\"](\"/wp-content/uploads/2026/05/AC-Log-OL.jpg\")
In\u00a0logistics, where fuel costs directly\u00a0impact\u00a0the price of goods, AC Logistics is deploying renewable energy\u00a0across its operations, expanding its use in warehouses and cold chain facilities, electrifying delivery fleets, and redesigning its network to reduce fuel dependence. These initiatives help\u00a0stabilize\u00a0costs, improve reliability, and strengthen supply chains,\u00a0enabling businesses to serve customers more efficiently while providing end consumers with more affordable, dependable, and sustainably delivered goods.
\u00a0
![\"\"](\"/wp-content/uploads/2026/05/Globe-GFiber-OL.jpg\")
At the same time, Globe is helping households adapt to\u00a0high\u00a0fuel costs and shifting work and learning patterns by making high-speed connectivity more accessible. Globe\u2019s\u00a0GFiber Prepaid offers faster, more reliable internet at affordable rates, supporting productivity, learning, and connectivity for families.
\u00a0
Together, these efforts highlight how Ayala\u2019s sustainability initiatives are translating into practical benefits for consumers.
\n
Spotlight is 大象传媒\u2019s sponsored section that allows advertisers to amplify their brand and connect with 大象传媒\u2019s audience by publishing their stories on the 大象传媒 Web site. For more information, send an email to\u00a0online@bworldonline.com.
\nJoin us on Viber at\u00a0https://bit.ly/3hv6bLA\u00a0to get more updates and subscribe to 大象传媒\u2019s titles and get exclusive content through\u00a0www.bworld-x.com.
\n", "content_text": "As\u00a0elevated oil prices and supply disruptions continue to affect households and businesses, Ayala Corporation is mobilizing its group-wide capabilities to help cushion the impact on Filipino consumers. Through investments in sustainability and operational efficiency, the Group is enabling more stable, cost-efficient solutions across energy, mobility,\u00a0logistics, finance, and connectivity.\u00a0Sustainability is central to this approach, not just as a long-term goal, but as a practical way to manage today\u2019s challenges. By reducing dependence on fossil fuels and improving efficiency, Ayala companies are helping mitigate exposure to fuel price volatility while delivering tangible savings and reliability for customers.\u00a0\u201cSustainability continues to guide how we respond to the needs of our customers and communities, especially in times of uncertainty. By operating more efficiently and investing in cleaner, more resilient solutions, we are better able to support Filipino consumers as they navigate today\u2019s challenges,\u201d said Ayala Corporation\u00a0Chief Social Infrastructure Officer\u00a0Paolo\u00a0F.\u00a0Borromeo.\u00a0Investments in the energy transition are enabling more stable and affordable power for businesses and consumers. ACEN has expanded its renewable energy portfolio to 7 GW, while ACEN Renewable Energy Solutions supports institutions in shifting to cleaner power. Across Ayala, 119 facilities sourcing electricity from renewables help avoid approximately 329,000 tons of carbon emissions annually while generating over P191 million in electricity savings, helping support more sustainable cost structures for customers.\nThe BPI Cagayan de Oro-Lapasan branch is among select locations within the Ayala ecosystem equipped with EV charging facilities, showing how the Group\u2019s integrated approach to sustainability delivers convenient and cost-efficient solutions for Filipino consumers.\nThese gains are being realized across the Group, where sustainability-driven efficiencies are strengthening operations while also translating into real value for customers. BPI now uses 100% renewable energy for 70 of its branches, while Globe has transitioned over 3,000 cell sites and smaller facilities to cleaner energy sources. By managing energy costs and reducing exposure to fuel price volatility, these initiatives help support more reliable services and more stable cost structures for consumers.\nBuilding on these gains, the Ayala Group is extending the benefits of its sustainability efforts beyond its own operations by enabling households to directly access cleaner and more cost-efficient solutions. BPI\u2019s Green Solutions offerings provide financing for residential solar installations and electric vehicles through flexible loan terms, competitive rates, and partnerships with accredited providers that help lower upfront costs. Demand continues to grow, with BPI reporting strong uptake in green consumer loans and an electric vehicle financing portfolio of around P12 billion.\u00a0\nACMobility is expanding EV access and charging hubs across over 200 locations nationwide, making cleaner, more cost-efficient transport more practical for Filipinos.\nElectrified mobility is\u00a0emerging\u00a0as one of the most direct ways to help consumers manage\u00a0high\u00a0fuel costs. As\u00a0ACMobility\u00a0CEO Jaime Alfonso Zobel de Ayala emphasized, \u201cAt\u00a0ACMobility, our strategy was underpinned by a strong conviction that the cost of mobility has historically been a pain point for many Filipinos. Our view is that with the efficiency and the durability of battery technology, new energy vehicles directly address this pain point, providing retail customers with more affordable mobility options, as well as providing the broader population with innovations in energy security.\u201d\u00a0Demand is accelerating, with electrified vehicles accounting for 12% of new vehicle sales in 2025 and rising further in early 2026. Other things being equal,\u00a0with today\u2019s fuel prices, an EV charged at home\u00a0can deliver up to 70% savings compared to a gasoline-powered\u00a0car,\u00a0a value proposition further enhanced by the fact that EVs in general have lower maintenance costs because\u00a0of fewer moving parts and no oil changes required. Through ACMobility, Ayala is scaling this transition by expanding access to EVs and building a nationwide charging network across more than 200 locations, making cleaner and more cost-efficient transport increasingly practical for Filipino consumers.\u00a0This shift is increasingly visible on the ground. Through the \u201cDrive Electric. Love Pinas.\u201d campaign with the Department of Tourism, ACMobility\u00a0is\u00a0demonstrating that sustainable, electrified land travel across the Philippines is both possible and practical.\nAyala Land\u2019s integrated transport hubs support more sustainable mobility while helping commuters save time and reduce everyday travel costs.\nAyala Land is also helping consumers manage\u00a0high fuel costs through integrated, walkable communities that reduce reliance on long commutes. By bringing homes, workplaces, retail, and essential services closer together within its estates, the company helps residents save both time and transportation costs while improving everyday convenience. Many Ayala Land estates also feature transport hubs and point-to-point (P2P) routes that provide more practical and accessible mobility options for commuters.\u00a0Approximately 98% of Ayala Malls now\u00a0operate on renewable energy and are supported by energy-efficient systems that help manage operating costs and improve operational efficiency. Together, these initiatives contribute to more resilient developments and more sustainable, cost-efficient ways of living.\nAC Logistics is deploying renewable energy across its warehouses and cold chain facilities, helping reduce fuel dependence, stabilize costs, and support more reliable, sustainable supply chains for businesses and consumers.\nIn\u00a0logistics, where fuel costs directly\u00a0impact\u00a0the price of goods, AC Logistics is deploying renewable energy\u00a0across its operations, expanding its use in warehouses and cold chain facilities, electrifying delivery fleets, and redesigning its network to reduce fuel dependence. These initiatives help\u00a0stabilize\u00a0costs, improve reliability, and strengthen supply chains,\u00a0enabling businesses to serve customers more efficiently while providing end consumers with more affordable, dependable, and sustainably delivered goods.\u00a0\nGlobe GFiber is helping Filipino households stay productive and connected amid high fuel costs and shifting work and learning needs, offering faster, more reliable internet at affordable rates.\nAt the same time, Globe is helping households adapt to\u00a0high\u00a0fuel costs and shifting work and learning patterns by making high-speed connectivity more accessible. Globe\u2019s\u00a0GFiber Prepaid offers faster, more reliable internet at affordable rates, supporting productivity, learning, and connectivity for families.\u00a0Together, these efforts highlight how Ayala\u2019s sustainability initiatives are translating into practical benefits for consumers.\n \n\nSpotlight is 大象传媒\u2019s sponsored section that allows advertisers to amplify their brand and connect with 大象传媒\u2019s audience by publishing their stories on the 大象传媒 Web site. For more information, send an email to\u00a0online@bworldonline.com.\nJoin us on Viber at\u00a0https://bit.ly/3hv6bLA\u00a0to get more updates and subscribe to 大象传媒\u2019s titles and get exclusive content through\u00a0www.bworld-x.com.", "date_published": "2026-05-22T00:05:25+08:00", "date_modified": "2026-05-22T11:40:10+08:00", "authors": [ { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" } ], "author": { "name": "大象传媒", "url": "/author/rgentrierikafurd/", "avatar": "https://secure.gravatar.com/avatar/7694c3bf97a39eb1cd7ccb0dae2a72fd7a4d806b2c002d13f8f2b64054d707d0?s=512&d=mm&r=g" }, "image": "/wp-content/uploads/2026/05/ACEN-RES_Powered-by-Renewable-Energy-Badge-OL.jpg", "tags": [ "Ayala Corporation", "Ayala Group", "supply disruptions", "Sustainability", "Spotlight" ] }, { "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=751355", "url": "/corporate/2026/05/22/751355/filinvest-land-posts-higher-march-residential-reservations/", "title": "Filinvest Land posts higher March residential reservations", "content_html": "FILINVEST LAND, INC. (FLI) reported a 62% increase in residential sales reservations in March, driven by stronger demand across its key regional markets.
\nIn a statement on Thursday, the property developer said residential sales reservations reached P2.7 billion in March.
\n\u201cOur residential performance in the first quarter proves that our products are aligning perfectly with the evolving needs of Filipino homeowners,\u201d FLI President and Chief Executive Officer Tristan Las Marias said.
\n\u201cThe record sales we recorded in March reflect the strength of our regional strategy. We are not just building houses; we are creating value in the areas where the Philippine economy is growing fastest,\u201d he added.
\nFLI said the growth was driven by double-digit increases in the National Capital Region, Central Luzon, and Mindanao, as demand for residential developments in these markets strengthened.
\nThe residential segment helped lift real estate revenues by 6% to P3.92 billion during the first quarter.
\nFor the January-to-March period, FLI posted consolidated revenues of P6.31 billion, up 4.5% from a year earlier, while net income stood at P1.1 billion. \u2014 Alexandria Grace C. Magno
\n", "content_text": "FILINVEST LAND, INC. (FLI) reported a 62% increase in residential sales reservations in March, driven by stronger demand across its key regional markets.\nIn a statement on Thursday, the property developer said residential sales reservations reached P2.7 billion in March.\n\u201cOur residential performance in the first quarter proves that our products are aligning perfectly with the evolving needs of Filipino homeowners,\u201d FLI President and Chief Executive Officer Tristan Las Marias said.\n\u201cThe record sales we recorded in March reflect the strength of our regional strategy. We are not just building houses; we are creating value in the areas where the Philippine economy is growing fastest,\u201d he added.\nFLI said the growth was driven by double-digit increases in the National Capital Region, Central Luzon, and Mindanao, as demand for residential developments in these markets strengthened.\nThe residential segment helped lift real estate revenues by 6% to P3.92 billion during the first quarter.\nFor the January-to-March period, FLI posted consolidated revenues of P6.31 billion, up 4.5% from a year earlier, while net income stood at P1.1 billion. \u2014 Alexandria Grace C. Magno", "date_published": "2026-05-22T00:05:01+08:00", "date_modified": "2026-05-21T20:49:43+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/2025/12/Filinvest-House-and-Lot.jpg", "tags": [ "Alexandria Grace C. Magno", "Corporate" ] }, { "id": "/?p=751323", "url": "/banking-finance/2026/05/22/751323/gsis-q1-net-earnings-jump-to-p43-6b-as-contributions-grow/", "title": "GSIS Q1 net earnings jump to P43.6B as contributions grow", "content_html": "THE GOVERNMENT Service Insurance System (GSIS) posted a 170% increase in net income for the first quarter amid higher revenues, driven mainly by contributions.
\nThe state pension fund\u2019s net income stood to P43.6 billion in the period from P16.1 billion in the same period last year.
\nThis was already over 30% of its full-year profit target of P130.91 billion.
\nInsurance income, which is the GSIS\u2019 primary revenue line, increased by 9.16% to P56.6 billion in the January-to-March period from P4.75 billion a year ago.
\nThis came amid higher social insurance contributions as collections were supported by its growing member base and higher agency remittances.
\nMeanwhile, investment income from financial assets jumped to P27.4 billion from P1.2 billion, supported by gains from equity valuations and favorable foreign exchange movements.
\nLoan income stood at P10.7 billion in the first quarter amid higher disbursements across Ginhawa Loan facilities.
\nGSIS said the Ginhawa Solar Energy Loan contributed P890 million in its first week of operations after the state pension fund started accepting applications on March 25.
\nAs a result, gross income stood at P95.8 billion in the quarter, up 43.83% from P66.6 billion a year ago.
\nMeanwhile, the pension fund\u2019s total expenses went up by 3.3% year on year to P52.1 billion from P50.5 billion. It said 95% of total expenses were paid claims and benefits, which rose by 4.73% to P49.5 billion in the first quarter amid higher pension payments.
\nThe average monthly old age pension rose to P18,874.58 in 2026 from P17,809.10 in 2025, it added.
\n\u201cThe fund grew this quarter and paid out more than it did a year ago. That is the baseline we hold ourselves to every reporting period,\u201d GSIS President and General Manager Jose Arnulfo \u201cWick\u201d A. Veloso said in a statement.
\nAdministrative costs, covering personnel services and operating expenses, stood at P2.44 billion. This made up about 4.7% of total expenses, well below the 12% ceiling set by the GSIS Charter.
\n\u201cAdministrative costs at 4.7% means more than 95 centavos of every peso in expenses went directly to members,\u201d Mr. Veloso said.
\nGSIS booked total assets amounting to P2 trillion at end-March, up from P1.96 trillion as of end-2025.
\nThis puts the fund on track to reach P2.1 trillion in total assets by the end of the year.
\n\u201cBased on the fund\u2019s latest actuarial study, the GSIS has a life extending to 2058, ensuring that benefits remain secure for the next generation of government workers and retirees,\u201d it said. \u2014 Aaron Michael C. Sy
\n", "content_text": "THE GOVERNMENT Service Insurance System (GSIS) posted a 170% increase in net income for the first quarter amid higher revenues, driven mainly by contributions.\nThe state pension fund\u2019s net income stood to P43.6 billion in the period from P16.1 billion in the same period last year.\nThis was already over 30% of its full-year profit target of P130.91 billion.\nInsurance income, which is the GSIS\u2019 primary revenue line, increased by 9.16% to P56.6 billion in the January-to-March period from P4.75 billion a year ago.\nThis came amid higher social insurance contributions as collections were supported by its growing member base and higher agency remittances.\nMeanwhile, investment income from financial assets jumped to P27.4 billion from P1.2 billion, supported by gains from equity valuations and favorable foreign exchange movements.\nLoan income stood at P10.7 billion in the first quarter amid higher disbursements across Ginhawa Loan facilities.\nGSIS said the Ginhawa Solar Energy Loan contributed P890 million in its first week of operations after the state pension fund started accepting applications on March 25.\nAs a result, gross income stood at P95.8 billion in the quarter, up 43.83% from P66.6 billion a year ago.\nMeanwhile, the pension fund\u2019s total expenses went up by 3.3% year on year to P52.1 billion from P50.5 billion. It said 95% of total expenses were paid claims and benefits, which rose by 4.73% to P49.5 billion in the first quarter amid higher pension payments.\nThe average monthly old age pension rose to P18,874.58 in 2026 from P17,809.10 in 2025, it added.\n\u201cThe fund grew this quarter and paid out more than it did a year ago. That is the baseline we hold ourselves to every reporting period,\u201d GSIS President and General Manager Jose Arnulfo \u201cWick\u201d A. Veloso said in a statement.\nAdministrative costs, covering personnel services and operating expenses, stood at P2.44 billion. This made up about 4.7% of total expenses, well below the 12% ceiling set by the GSIS Charter.\n\u201cAdministrative costs at 4.7% means more than 95 centavos of every peso in expenses went directly to members,\u201d Mr. Veloso said.\nGSIS booked total assets amounting to P2 trillion at end-March, up from P1.96 trillion as of end-2025.\nThis puts the fund on track to reach P2.1 trillion in total assets by the end of the year.\n\u201cBased on the fund\u2019s latest actuarial study, the GSIS has a life extending to 2058, ensuring that benefits remain secure for the next generation of government workers and retirees,\u201d it said. \u2014 Aaron Michael C. Sy", "date_published": "2026-05-22T00:04:24+08:00", "date_modified": "2026-05-21T19:19:32+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/2022/03/thumbnail-4.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance" ] }, { "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=751354", "url": "/corporate/2026/05/22/751354/grab-philippines-to-expand-services-to-40-more-cities/", "title": "Grab Philippines to expand services to 40 more cities", "content_html": "GRAB PHILIPPINES plans to expand its services to 40 additional cities this year as it pushes broader digitalization efforts across the country.
\n\u201cWe are launching another 40 cities this year, just to basically digitize as many cities as possible,\u201d Grab Philippines Country Head Ronald Roda told 大象传媒 on the sidelines of the company\u2019s economic forum on Monday.
\nHe said the expansion will cover transport, delivery, and financial services, depending on what local governments allow in each area.
\n\u201cIt is different per city. It really depends on what the city allows us. The easiest to launch is deliveries, followed by transport, and then lastly is financial services,\u201d he said.
\n\u201cWe usually lead with delivery because that\u2019s the easy way and we have national partners to rely on,\u201d he added.
\nGrab Philippines currently offers transportation, food and package delivery, and financial services. According to its website, the company operates in about 25 cities nationwide.
\nMr. Roda said the company has seen growing opportunities tied to the digitalization of grocery and retail services.
\n\u201cWhen a crisis hits, there\u2019s ultimately opportunities. The first opportunity is really the digitization of groceries. Similar to the pandemic where food delivery was the thing, these days it\u2019s really bringing fresh produce, then ultimately retail into digital,\u201d he said.
\n\u201cAnd that\u2019s what we have been focusing on for the past three months,\u201d he added.
\nGrab Philippines is also looking to expand its consumer cash loan business, which it launched in December last year.
\n\u201cWe have been very slow in giving out loans, but now I think it\u2019s scaled because we\u2019ve gotten our group in terms of what\u2019s the right credit policy and all of that,\u201d Mr. Roda said.
\n\u201cSo, we\u2019re looking to scale lending mainly because the Grab base is fairly affluent,\u201d he added. \u2014 Ashley Erika O. Jose
\n", "content_text": "GRAB PHILIPPINES plans to expand its services to 40 additional cities this year as it pushes broader digitalization efforts across the country.\n\u201cWe are launching another 40 cities this year, just to basically digitize as many cities as possible,\u201d Grab Philippines Country Head Ronald Roda told 大象传媒 on the sidelines of the company\u2019s economic forum on Monday.\nHe said the expansion will cover transport, delivery, and financial services, depending on what local governments allow in each area.\n\u201cIt is different per city. It really depends on what the city allows us. The easiest to launch is deliveries, followed by transport, and then lastly is financial services,\u201d he said.\n\u201cWe usually lead with delivery because that\u2019s the easy way and we have national partners to rely on,\u201d he added.\nGrab Philippines currently offers transportation, food and package delivery, and financial services. According to its website, the company operates in about 25 cities nationwide.\nMr. Roda said the company has seen growing opportunities tied to the digitalization of grocery and retail services.\n\u201cWhen a crisis hits, there\u2019s ultimately opportunities. The first opportunity is really the digitization of groceries. Similar to the pandemic where food delivery was the thing, these days it\u2019s really bringing fresh produce, then ultimately retail into digital,\u201d he said.\n\u201cAnd that\u2019s what we have been focusing on for the past three months,\u201d he added.\nGrab Philippines is also looking to expand its consumer cash loan business, which it launched in December last year.\n\u201cWe have been very slow in giving out loans, but now I think it\u2019s scaled because we\u2019ve gotten our group in terms of what\u2019s the right credit policy and all of that,\u201d Mr. Roda said.\n\u201cSo, we\u2019re looking to scale lending mainly because the Grab base is fairly affluent,\u201d he added. \u2014 Ashley Erika O. Jose", "date_published": "2026-05-22T00:04:00+08:00", "date_modified": "2026-05-21T20:49:40+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/2026/05/Grab-rider.jpg", "tags": [ "Ashley Erika O. Jose", "Corporate" ] }, { "id": "/?p=751353", "url": "/corporate/2026/05/22/751353/jollibee-opens-new-manhattan-store/", "title": "Jollibee opens new Manhattan store", "content_html": "JOLLIBEE FOODS CORP. (JFC) has opened a new store in Midtown Manhattan, New York City, expanding its North American network to 109 locations.
\nIn a statement on Thursday, the company said the new branch on East 42nd Street is its third location in Manhattan, adding to its existing presence in the city, including its Times Square store.
\nThe branch began operations on March 31 and offers dine-in, takeout, delivery, online ordering, and catering services. It operates daily from 9 a.m. to midnight.
\nJFC said the opening drew strong customer turnout, with patrons lining up hours before opening. The company estimated that around 95% of customers were from the mainstream market, while 5% were Filipino or Filipino American.
\n\u201cThe response to our East 42nd Street opening is very encouraging \u2014 not just the strong turnout on day one, but the steady demand we continue to see,\u201d Jollibee North America President Beth Dela Cruz said.
\n\u201cManhattan brings together a highly diverse customer base, and we are grateful for the opportunity to introduce Jollibee to new customers while making it more accessible to longtime fans in New York,\u201d she added.
\nJFC said the Manhattan opening forms part of its broader strategy to expand in densely populated urban centers across North America, focusing on high-footfall locations that support customer trial and repeat visits.
\nFollowing the opening of the East 42nd Street branch, Jollibee\u2019s North American network now includes 81 stores in the United States and 28 in Canada.
\n\u201cThe opening of Jollibee Manhattan East 42nd Street demonstrates that our brand can connect with a broad customer base in one of the most competitive restaurant markets in the world,\u201d Jollibee Group Global President and Chief Executive Officer Ernesto Tanmantiong said.
\n\u201cSupported by products that customers come back for and a disciplined approach to expansion, we remain focused on growing Jollibee in a way that is sustainable, repeatable, and built for long-term success,\u201d he added.
\nShares in JFC rose 1.35% to close at P135 apiece on Thursday. \u2014 Alexandria Grace C. Magno
\n", "content_text": "JOLLIBEE FOODS CORP. (JFC) has opened a new store in Midtown Manhattan, New York City, expanding its North American network to 109 locations.\nIn a statement on Thursday, the company said the new branch on East 42nd Street is its third location in Manhattan, adding to its existing presence in the city, including its Times Square store.\nThe branch began operations on March 31 and offers dine-in, takeout, delivery, online ordering, and catering services. It operates daily from 9 a.m. to midnight.\nJFC said the opening drew strong customer turnout, with patrons lining up hours before opening. The company estimated that around 95% of customers were from the mainstream market, while 5% were Filipino or Filipino American.\n\u201cThe response to our East 42nd Street opening is very encouraging \u2014 not just the strong turnout on day one, but the steady demand we continue to see,\u201d Jollibee North America President Beth Dela Cruz said.\n\u201cManhattan brings together a highly diverse customer base, and we are grateful for the opportunity to introduce Jollibee to new customers while making it more accessible to longtime fans in New York,\u201d she added.\nJFC said the Manhattan opening forms part of its broader strategy to expand in densely populated urban centers across North America, focusing on high-footfall locations that support customer trial and repeat visits.\nFollowing the opening of the East 42nd Street branch, Jollibee\u2019s North American network now includes 81 stores in the United States and 28 in Canada.\n\u201cThe opening of Jollibee Manhattan East 42nd Street demonstrates that our brand can connect with a broad customer base in one of the most competitive restaurant markets in the world,\u201d Jollibee Group Global President and Chief Executive Officer Ernesto Tanmantiong said.\n\u201cSupported by products that customers come back for and a disciplined approach to expansion, we remain focused on growing Jollibee in a way that is sustainable, repeatable, and built for long-term success,\u201d he added.\nShares in JFC rose 1.35% to close at P135 apiece on Thursday. \u2014 Alexandria Grace C. Magno", "date_published": "2026-05-22T00:03:59+08:00", "date_modified": "2026-05-21T20:49:39+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/Jollibee-Manhattan.jpg", "tags": [ "Alexandria Grace C. Magno", "Corporate" ] }, { "id": "/?p=751322", "url": "/banking-finance/2026/05/22/751322/peso-strengthens-as-markets-stay-hopeful-on-us-iran-deal/", "title": "Peso strengthens as markets stay hopeful on US-Iran deal", "content_html": "THE PESO appreciated against the dollar on Thursday after the United States again signaled a possible end to the Middle East conflict.
\nThe currency closed at P61.581 versus the dollar, gaining 15.9 centavos from its P61.74 finish on Wednesday, according to Bankers Association of the Philippines data posted on its website.
\nThe local unit opened Thursday\u2019s session sharply stronger at P61.50 per dollar. Its intraday best was at P61.45 against the greenback, while its weakest showing was at P61.665.
\nDollars traded increased to $1.58 billion from $1.54 billion in the previous session.
\n\u201cThe peso appreciated after US President [Donald J.] Trump hinted about an impending end to the US-Iran conflict following his favorable remarks on the Iranian authorities in relation to their diplomatic talks,\u201d a trader said in an e-mail.
\nThe currency was also supported by the downward correction in global crude oil prices following Mr. Trump\u2019s remarks, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.
\nFor Friday, the trader said the peso could continue to strengthen amid market optimism over an eventual resumption of oil trade along the Strait of Hormuz.
\nThe trader sees the peso moving between P61.45 and P61.70 against the dollar on Friday, while Mr. Ricafort expects it to move between P61.45 and P61.65.
\nThe US dollar firmed on Thursday but stayed below a six-week peak as hopes that Washington was nearing a deal with Tehran to end the war in the Middle East capped further rises, Reuters reported.
\nMr. Trump on Wednesday said negotiations with Tehran were in the final stages, while also warning of further attacks if Iran does not agree to a deal.
\nThe dollar, often a safe haven for investors, firmed 0.1% against the yen to \u00a5159.060 after falling for the first time in eight sessions against the yen on Wednesday.
\nBank of Japan policy board member Junko Koeda added a measure of support for the yen with hawkish comments on Thursday, saying in a speech that the central bank needs to continue to raise rates with underlying inflation already around a 2% target.
\nThe euro was 0.2% down at $1.160050, after dipping on Wednesday to its weakest level since April 7 at $1.1583 before bouncing back.
\nThe dollar index, which measures the currency against the euro, yen and four other rivals, rose 0.2% to 99.295, down from a peak of 99.472 on Wednesday, the strongest level since April 7.
\n\u201cThe \u2018safe haven\u2019 flows reversed because of positive news about the Iran war,\u201d wrote Joseph Capurso, head of FX at Commonwealth Bank of Australia, in a client note.
\nAt the same time, \u201cwhile the US has domestic political incentives to seek peace, we would not be surprised if President Trump chooses military escalation to gain leverage in negotiations,\u201d he said.
\nMarket focus has been on the potential inflationary impact of higher energy prices as the Strait of Hormuz remains largely closed to shipping.
\nIn a note, Commerzbank FX analysts said many central banks may label the inflation shock as transitory should the Strait open in the next few days, but this would be incorrect as it does not take into account loss of purchasing power.
\n\u201cConsequently, currencies are likely to benefit in countries where the central bank is slower to speak of transitory price spikes but may nevertheless tighten monetary policy,\u201d they wrote.
\nNotes from the Federal Reserve\u2019s April meeting, published on Wednesday, revealed officials\u2019 intensifying concerns about inflation, with a growing number open to the possibility that they may need to raise interest rates.
\nElsewhere, the Australian dollar declined following a surprise rise in the unemployment rate to the highest since 2021, which reduced the case for higher interest rates.
\nBitcoin softened a fraction to around $77,603.16. \u2014 Aaron Michael C. Sy with Reuters
\n", "content_text": "THE PESO appreciated against the dollar on Thursday after the United States again signaled a possible end to the Middle East conflict.\nThe currency closed at P61.581 versus the dollar, gaining 15.9 centavos from its P61.74 finish on Wednesday, according to Bankers Association of the Philippines data posted on its website.\nThe local unit opened Thursday\u2019s session sharply stronger at P61.50 per dollar. Its intraday best was at P61.45 against the greenback, while its weakest showing was at P61.665.\nDollars traded increased to $1.58 billion from $1.54 billion in the previous session.\n\u201cThe peso appreciated after US President [Donald J.] Trump hinted about an impending end to the US-Iran conflict following his favorable remarks on the Iranian authorities in relation to their diplomatic talks,\u201d a trader said in an e-mail.\nThe currency was also supported by the downward correction in global crude oil prices following Mr. Trump\u2019s remarks, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.\nFor Friday, the trader said the peso could continue to strengthen amid market optimism over an eventual resumption of oil trade along the Strait of Hormuz.\nThe trader sees the peso moving between P61.45 and P61.70 against the dollar on Friday, while Mr. Ricafort expects it to move between P61.45 and P61.65.\nThe US dollar firmed on Thursday but stayed below a six-week peak as hopes that Washington was nearing a deal with Tehran to end the war in the Middle East capped further rises, Reuters reported.\nMr. Trump on Wednesday said negotiations with Tehran were in the final stages, while also warning of further attacks if Iran does not agree to a deal.\nThe dollar, often a safe haven for investors, firmed 0.1% against the yen to \u00a5159.060 after falling for the first time in eight sessions against the yen on Wednesday.\nBank of Japan policy board member Junko Koeda added a measure of support for the yen with hawkish comments on Thursday, saying in a speech that the central bank needs to continue to raise rates with underlying inflation already around a 2% target.\nThe euro was 0.2% down at $1.160050, after dipping on Wednesday to its weakest level since April 7 at $1.1583 before bouncing back.\nThe dollar index, which measures the currency against the euro, yen and four other rivals, rose 0.2% to 99.295, down from a peak of 99.472 on Wednesday, the strongest level since April 7.\n\u201cThe \u2018safe haven\u2019 flows reversed because of positive news about the Iran war,\u201d wrote Joseph Capurso, head of FX at Commonwealth Bank of Australia, in a client note.\nAt the same time, \u201cwhile the US has domestic political incentives to seek peace, we would not be surprised if President Trump chooses military escalation to gain leverage in negotiations,\u201d he said.\nMarket focus has been on the potential inflationary impact of higher energy prices as the Strait of Hormuz remains largely closed to shipping.\nIn a note, Commerzbank FX analysts said many central banks may label the inflation shock as transitory should the Strait open in the next few days, but this would be incorrect as it does not take into account loss of purchasing power.\n\u201cConsequently, currencies are likely to benefit in countries where the central bank is slower to speak of transitory price spikes but may nevertheless tighten monetary policy,\u201d they wrote.\nNotes from the Federal Reserve\u2019s April meeting, published on Wednesday, revealed officials\u2019 intensifying concerns about inflation, with a growing number open to the possibility that they may need to raise interest rates.\nElsewhere, the Australian dollar declined following a surprise rise in the unemployment rate to the highest since 2021, which reduced the case for higher interest rates.\nBitcoin softened a fraction to around $77,603.16. \u2014 Aaron Michael C. Sy with Reuters", "date_published": "2026-05-22T00:03:23+08:00", "date_modified": "2026-05-21T19:25:05+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/Peso-currency.jpg", "tags": [ "Aaron Michael C. Sy", "Banking & Finance", "One News", "大象传媒" ] } ] }![\"\"](\"/wp-content/uploads/2026/05/Board-game-2.jpg\")
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