Philippines accuses China coast guard of aggressive maneuvers against its fisheries vessels
MANILA – The Philippines accused Chinese Coast Guard ships on Friday of carrying out aggressive maneuvers and targeting its fisheries vessels with water canons while they were delivering supplies to Filipino fishermen at the disputed Scarborough Shoal on Friday.
One of the four Philippine fisheries vessels involved in the mission was briefly struck by a water cannon, while another evaded being hit, the Philippine Coast Guard said in a statement. — Reuters
Analysts split on BSP easing path
ANALYSTS are divided on the Philippine central bank’s easing trajectory for the rest of 2025, as an escalating conflict in the Middle East and oil price spike clouds the inflation outlook.
“We still see room for further policy easing to support economic momentum, and expect another rate cut of 25 basis points (bps) by the end of the year,” Moody’s Analytics economist Sarah Tan said in an e-mail.
“Policy easing will continue into 2026 as well. Monetary easing would support the domestic economy amid a complex external environment,” she added.
The Bangko Sentral ng Pilipinas (BSP) on Thursday cut the target reverse repurchase rate by 25 bps to 5.25% from 5.5% amid a moderating inflation outlook and weaker-than-expected first-quarter economic growth.
BSP Governor Eli M. Remolona, Jr. said on Friday that a rate cut in August was on the table depending on the data and a further escalation in the Middle East conflict.
“We could do another rate cut in August or we could pause and do the rate cut in October instead of August. That’s one possibility. But we’re looking at the data every day and we’re going to decide in August what the next move should be,” he said in an interview with CNBC.
The Monetary Board’s remaining policy meetings this year are scheduled for Aug. 28, Oct. 9, and Dec. 11.
Deutsche Bank Research also expects the BSP to cut by 25 bps in August.
“Our baseline for one more 25-bp rate cut in August remains, as we think that annual inflation is likely to stay near the lower end of BSP’s 2-4% target barring an escalation in the Middle East conflict,” it said in a note.
Ms. Tan said the BSP’s policy outlook has turned “slightly gloomier” due to the escalating conflict in the Middle East and uncertainties arising from the Trump administration’s trade policies.
“Political volatility across key oil-producing nations leaves the market vulnerable to sudden shocks. This could fuel higher global oil prices, which is concerning for the Philippines due to its heavy reliance on imported oil. This could add upward price pressures in the domestic economy and risks depreciation of the peso,” she said.
However, Moody’s Analytics does not see inflation breaching the central bank’s 2-4% target this year. The BSP expects inflation to average 1.6% this year, 3.4% in 2026 and 3.3% in 2027.
On the other hand, ANZ Research and Nomura Global Markets Research said the BSP may deliver two more rate cuts this year.
“Given the BSP’s inflation forecast of 1.6% for 2025, a terminal rate of 5% would imply that real rate would still remain elevated at 3.4%. Consequently, we think the BSP will have to cut rates two more times by 25 bps each in Q3 and Q4 2025 bringing the terminal rate to 4.75%,” ANZ Research said.
Nomura Global Markets Research said it expects two 25-bp cuts at the BSP’s August and October meetings “mainly supported by the low inflation outturns in coming months.”
However, the main risk to its view is the timing of these next cuts, Nomura said.
“An escalation in the Middle East conflict that is accompanied by further increases in oil prices could keep BSP from cutting and instead prompt it to leave the policy rate unchanged in the near term,” it said.
“The BSP also highlighted in the policy statement today that the Monetary Board will continue to assess the impact of prior monetary policy adjustments, which in our view suggests BSP could pause, if the domestic economy shows signs of improvement in the short run,” Nomura added.
Bank of the Philippine Islands (BPI) Lead Economist Emilio S. Neri, Jr. said in a June 19 report that while a rate cut was still possible this year, as the central bank should remain cautious as an overly aggressive easing cycle could leave the economy vulnerable to abrupt rate hikes by the US Federal Reserve.
He added the Monetary Board’s easing cycle could be disrupted if the conflict in the Middle East escalates further.
“Containing inflation should remain the top priority, since high inflation has been the main reason for the slowdown in GDP growth — more so than the current level of interest rates. Keeping inflation stable, even without additional cuts, will likely boost the economy. A resurgence in inflation, even with the rate cuts, could hold back growth again,” Mr. Neri said.
PAUSE
Meanwhile, some analysts said the BSP may pause its easing cycle for the rest of the year.
“Developments in commodity markets, global demand and trade tensions are at this point the biggest risk factors for inflation and therefore the BSP’s easing path,” Fitch Ratings’ Asia-Pacific Sovereigns Director Krisjanis Krustins said in an e-mail.
Mr. Krustins said he does not expect any more rate cuts by the BSP this year. He said the BSP will likely resume easing with a 25-bp cut in 2026, bringing the rate to 5%.
“This would imply a relatively small differential between the Philippines and the US in terms of policy rates, compared to history,” he said.
Mr. Remolona on Friday said the interest rate differential between the Fed and the BSP could narrow to 50 bps.
Union Bank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said the BSP will likely pause at its Aug. 28 meeting as the central bank will first assess the effect of its cumulative rate cuts in addition to the reduction of banks’ reserved requirement ratio (RRR).
“We reckon this evaluation will focus on transmission lags and the current high real interest rate environment to determine whether further easing is warranted,” he said.
The BSP on March 28 cut the RRR of universal and commercial banks and nonbank financial institutions with quasi-banking functions by 200 bps to 5%. The RRR for digital banks was also lowered by 150 bps to 2.5%, while the ratio for thrift lenders was cut by 100 bps to 0%.
Mr. Asuncion said the BSP could cut the target reverse repurchase rate up to 3% to 3.5% before pausing, aligning with pre-pandemic levels and the central bank’s inflation target. — A.M.C. Sy
Oil prices seen to spike after US strikes on Iran
By Sheldeen Joy Talavera and Aubrey Rose A. Inosante, Reporters
GLOBAL OIL PRICES are expected to soar amid a widening conflict in the Middle East after the US attacked Iranian nuclear sites.
“World oil prices could rise further because of the new development. The potential increase in premium and freight, which are projected to rise because of the expanded scope of hostilities, could be factored in the expected movement on domestic prices next week,” Jetti Petroleum, Inc. President Leo P. Bellas said in a Viber message.
The impact of the potential increase in freight would be determined “as soon as trading commences early (Monday) morning,” Mr. Bellas said.
As of June 21, diesel is projected to go up by P4.90 to P5.10 per liter; and gasoline by P3.20 to P3.40 per liter, an industry player said.
If realized, this would be the sixth consecutive week of price hike for gasoline and four straight weeks for diesel.
The US launched airstrikes on three nuclear sites in Iran, US President Donald J. Trump said late on Saturday, saying these facilities “have been completely and totally obliterated,” Reuters reported. (Related story “Strikes on Iran’s nuclear sites mark Trump’s riskiest foreign policy gamble”).
Mr. Bellas said that industry players are set to meet with the Department of Energy (DoE) on Monday to look for ways to cushion the impact of the looming big-time price hike.
He said that the meeting aims “to discuss the implementation of the price increase (this week) on staggered basis, promos and discount offerings of stations to help mitigate the impact of the price increase, among other things.”
Before the US attack on Saturday, analysts at Oxford Economics modeled three scenarios, including a de-escalation of the conflict, a complete shutdown in Iranian oil production and a closure of the Strait of Hormuz, “each with increasingly large impacts on global oil prices,” Reuters reported.
In the most severe case, global oil prices jump to around $130 per barrel, driving US inflation near 6% by the end of this year, Oxford said in the note.
“Although the price shock inevitably dampens consumer spending because of the hit to real incomes, the scale of the rise in inflation and concerns about the potential for second-round inflation effects likely ruin any chance of rate cuts in the US this year,” Oxford said in the note, which was published before the US strikes.
In comments after the announcement on Saturday, Jamie Cox, managing partner at Harris Financial Group, agreed oil prices would likely spike on the initial news. But Mr. Cox said he expected prices to likely level in a few days as the attacks could lead Iran to seek a peace deal with Israel and the United States.
Rodela I. Romero, assistant director of Oil Industry Management Bureau of the Department of Energy, said on Friday that there is a “major oil price shock looming as the Israel-Iran conflict threatens critical global shipping passage.”
The DoE earlier said that the government is prepared to roll out fuel subsidies to transport operators and farmers to contain the broader impact of high fuel costs on the prices of basic goods and services.
Fuel companies in the Philippines are mandated to maintain at least a 30-day fuel inventory to help stabilize local supply. If global crude prices exceed the $80 per barrel threshold, fuel subsidies for public transport drivers and fisherfolk will be automatically triggered.
President Ferdinand R. Marcos, Jr. said last week that the government may extend fuel subsidies to sectors severely affected to a spike in oil prices.
“Fuel subsidies are the correct policy response because allowing an increase in transport fares will hit the commuting public hard and strengthen inflationary pressures. Moreover, it’s possible that these subsidies may only be temporary if the Middle East crisis passes,” Calixto V. Chikiamco, president at Manila-based Foundation for Economic Freedom, said in a Viber message.
IMPACT ON INFLATION
As oil prices rise due to the developments in the Middle East, analysts warned this could stoke inflation and dampen consumer confidence, as well as hurt remittances.
“Its economic impacts will include higher inflation risks, as the Middle East where these conflicts are happening is the main source of our country’s oil,” Reinielle Matt M. Erece, an economist at Oikonomia Advisory and Research, Inc., said in a Viber message.
“In addition, a lot of OFWs (overseas Filipino workers) are working in this region which may also negatively impact remittance inflows and of course their overall safety,” he said.
BSP Governor Eli M. Remolona, Jr. earlier warned that rising global oil prices and the weakening peso could bring inflation to 5%, breaching the 2-4% target range.
“We have a bad scenario, if I may call it that, in which our inflation rate could exceed 5%. But we hope it doesn’t happen and we’re carefully watching that,” Mr. Remolona said in an interview with Cathy Yang on One News TV on June 22.
Mr. Remolona also said the 5% inflation scenario would involve Dubai crude reaching $100 per barrel and the peso sharply depreciating.
“Our good scenario, or I would say our central scenario says, inflation will go up to around 3.4%,” he said.
Jonathan L. Ravelas, senior adviser at professional service firm Reyes Tacandong & Co. said the Middle East conflict has a minimal impact on remittances for now.
He warned the conflict may escalate further and spread to other Middle East countries where there are significant numbers of OFWs such as Saudi Arabia, the United Arab Emirates, and Qatar.
Data from the Bangko Sentral ng Pilipinas said remittances from the Middle East region stood at $1.97 billion in the first quarter, up 6.51% from the same period last year.
Juan Paolo E. Colet, managing director at China Bank Capital Corp., said that oil companies need to manage their procurement, inventory, and hedging strategies well to mitigate the impact of potential price spikes and supply disruptions.
Mr. Colet said that while the government can offer subsidies to public transportation providers to cushion the impact of higher oil prices, this can only be a short-term solution.
“Our policymakers must look beyond the current conflict in the Middle East to make our country resilient to oil shocks. That includes investing in mass transit systems, fast-tracking renewable energy and battery energy storage projects, and promoting the shift to EVs (electric vehicles),” he said in a Viber message. — with Reuters
Philippine banks’ real estate exposure sinks to 6-year low
By Aubrey Rose A. Inosante, Reporter
THE EXPOSURE of Philippine banks and trust entities to the property sector dropped to a six-year low at the end of March, data from the Bangko Sentral ng Pilipinas (BSP) reported.
Banks’ real estate exposure ratio slipped to 19.41% as of end-March from 19.75% at end-December. It was also lower than 20.31% in the same period last year.
This was also the lowest real estate exposure ratio recorded in six years or since the 19.2% at end-March 2019.
The BSP monitors lenders’ exposure to the real estate industry as part of its mandate to maintain financial stability.
Investments and loans extended by Philippine banks and trust departments to the real estate sector rose by 7.76% to P3.34 trillion as of March from P3.1 trillion in the same period in 2024.
Broken down, real estate loans increased by 9.1% to P2.97 trillion as of end-March from P2.72 trillion at end-March 2024.
Residential real estate loans increased by an annual 11% to P1.13 trillion, while commercial real estate loans also went up by an annual 7.96% to P1.83 trillion.
Past due real estate loans stood at P149.52 billion, higher by 9.3% from P136.79 billion a year prior.
Broken down, past due residential real estate loans climbed by 14.74% to P107.62 billion, while past due commercial real estate loans fell by 2.56% to P41.9 billion.
Gross nonperforming real estate loans inched up by 0.44% to P111.27 billion at end-March from P110.79 billion a year ago.
This brought the gross nonperforming real estate loan ratio to 3.75% at end-March, lower than 4.07% a year earlier.
Meanwhile, real estate investments also dipped by 1.86% to P372.4 billion as of end-March from P379.45 billion in the same period a year ago.
Debt securities increased by 1.93% year on year to P256.04 billion, while equity securities fell by 9.28% to P116.36 billion.
Joey Roi H. Bondoc, director and head of research at Colliers Philippines attributed the banks’ lower exposure ratio in the first quarter to the drop in consumer demand for housing loans.
In a phone interview, Mr. Bondoc said there have been reports that homebuyers are backing out of their loans.
“Once it enters the bank financing, [the payment] balloons to, say, quadruple, quintuple times. That’s the problem,” he said, noting that some buyers may have been attracted by the low downpayment.
Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said real estate developers may also be cautious in managing new supply after the exit of Philippine offshore gaming operators.
“Banks, real estate companies, investors, end-users also cautious on possible slower world and local economic conditions due to Trump’s higher tariffs/trade wars/other protectionist policies and geopolitical risks recently such as the Israel-Iran war,” Mr. Ricafort said.
Mr. Bondoc said he sees some “green shoots of recovery, but those are primarily outside of Metro Manila.”
“The horizontal house and lot projects are still good. But, again, the more expensive projects, say those in Metro Manila, including the condos, the take-up is definitely down,” he said.
Recent rate cuts by the BSP may not have been felt by consumers.
“We’ve seen these reductions already from the central bank since last year. But have we seen an impact, a positive impact, meaning reduced mortgage rates? Not yet. We have not seen that,” Mr. Bondoc said.
On Thursday, the BSP delivered a second straight 25-basis-point (bp) cut, bringing its policy rate to 5.25% amid a benign inflation outlook and slowing economic growth.
It has now reduced benchmark borrowing costs by 125 bps since it began its easing cycle in August last year.
“Our average rate, for example, five-year loans, still at 7.7%. When last year, it was 7.8%. There’s really no sizable, substantial correction or reduction in terms of these mortgage rates,” Mr. Bondoc said.
BSP Governor Eli M. Remolona, Jr. also signaled they could deliver one more 25-bp cut this year.
Philippine exports to S. Korea expected to recover in 2nd half
By Justine Irish D. Tabile, Reporter
PHILIPPINE EXPORTS to South Korea are expected to rebound in the second half of the year amid better economic and business conditions in Seoul, which have hindered the country from seeing increased trade under the free trade agreement (FTA).
Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said that economic and political uncertainties in South Korea since December 2024 may have slowed down the country’s economic and business activities, including imports from the Philippines.
“The weaker South Korean currency (won) since late 2024 could have also made Philippine exports more expensive from South Korea’s point of view,” he said in a Viber message.
“This could also be a function of competition from other Association of Southeast Asian Nations (ASEAN) or Asian exporters such as Vietnam on exports such as bananas, among others,” he added.
Philippine Statistics Authority data showed Philippine exports to South Korea declined by 25.5% to $1 billion in the January-to-April period from $1.348 billion a year earlier. This despite the Philippine-South Korea FTA in effect for four months.
In April alone, the country exported $264.84 million worth of goods to South Korea, down 16.8% from $318.27 million in the previous year.
This made South Korea the country’s seventh-largest export market in April from being the country’s fifth-major trading partner in terms of exports in the same month last year.
“The FTA could have helped cushion the decline, at the very least, and could support future growth in Philippine exports after political and economic conditions already stabilized in South Korea recently,” Mr. Ricafort said.
“So yes, it can rebound in the second half due to better economic and business conditions in South Korea after the political and market turmoil a few months ago,” he added.
South Korea was plunged into a political crisis when then-President Yoon Suk Yeol declared martial law on Dec. 3, 2024. Earlier this month, a liberal party candidate, Lee Jae-myung, was elected president in snap elections and took office.
Meanwhile, Philippine Institute for Development Studies Senior Research Fellow John Paolo R. Rivera said that a “modest recovery” in Philippine exports to South Korea in the second half may be gradual.
“This can be realized if Philippine exporters will accelerate FTA utilization, target niche sectors like processed food and electronic components, and strengthen supply chain readiness,” he said in a Viber message.
“With supportive policies and improved market engagement, the FTA can still deliver long-term gains,” he added.
According to Mr. Rivera, the decline in Philippine exports to South Korea despite the FTA can be attributed to short-term adjustment lags, weak global demand, and product-specific issues.
“Electronics, a key export, has seen softening demand globally, while some sectors may not yet be fully utilizing the new tariff benefits under the agreement,” he said.
“FTAs don’t yield immediate results as they require time, market readiness, and strong private sector engagement. Philippine exporters may still be aligning supply chains, complying with rules of origin, and finding Korean buyers under the new terms,” he added.
To further benefit from the FTA, the Philippines should also strengthen its participation in the Regional Comprehensive Partnership and support micro, small, and medium enterprises in compliance and market access, Mr. Rivera said.
“With the right strategies, the FTA remains a valuable platform to diversify and deepen our economic ties with South Korea,” he added.
Entered into force last year, the Philippines-South Korea FTA is seen as critical in reducing the country’s tariff disadvantage against South Korea’s other FTA partners.
In particular, the Philippine government expects the FTA to help the Philippines recover its market share in South Korea’ banana imports after losing it to its ASEAN competitors, some of which already enjoy zero tariffs.
Aside from bananas, gains were also expected in Philippine exports of machinery and transport equipment and garments.
The best shirt in the world (according to Germany)
IN 1881, German clothing brand Van Laack set out to make the world’s best shirts and suits. Have they succeeded?
On June 19, all the way from its headquarters near the Rhine, the company showed off its Spring/Summer 2025 collection (mostly sprigged cotton shirts; but also a charming evening suit in black, with a matching cummerbund) in its store at the Shangri-La Plaza Mall. More importantly, the store had Florian Ohlde, vice-president of made-to-measure sales at Van Laack, to reintroduce the brand’s made-to-measure service.
Probably its No. 1 customer here, Johnlu Koa, managing director of Van Laack in the Philippines, showed off his very own suit. He brought the brand to the Philippines in the mid-2000s, after sensing shifts in the country’s economics. “We thought that the best thing to do is equip businesspeople with the right outfits,” he said.
On a personal note, he began to patronize Van Laack after personal mishaps with his own clothes as well.
He’d have suits tailor-made in Hong Kong at affordable prices (relative to the suits he usually buys), then have them come apart in just a few washes. With another European brand (which he did not name), the suits would fit perfectly, except for his cuffs. The Philippine branches of the brand would unceremoniously shorten the cuffs, cutting off the kissing buttons — the buttons that would actually open and close on custom suit jackets’ cuffs (as opposed to the buttons on store-bought suits), thus removing the mark of exclusivity.
Mr. Koa took off his jacket, which showed his monogram and his other businesses discreetly on the lining. “When you wear it, you feel secure — in your place, in your business, in your industry,” he said. “It makes you feel secure for deals.”
Meanwhile, Mr. Ohlde, when asked about the assertion about the brand making the world’s best shirts, told us to touch his own shirt. We commented on its softness, and he said that the shirt had not been ironed. “I flew from Germany to here with a tiny bag. It’s not wrinkled.”
Their fabrics come from Italy and Switzerland, and the fine quality of the fabrics is matched with German precision in tailoring. While they have since begun manufacturing in Tunisia and Vietnam, he says, “At the end of the day, you get the best shirt and suit in the world.”
“We don’t make mistakes,” he added.
He also explained how they managed to survive since 1881: he gestured at the women’s blouses, the belts, the ties and other items in the store that were not shirts or suits. They’ve even added home linens to their portfolio. “We make bedsheets with the best fabrics in the world (which) you normally wear on your skin.”
Van Laack in the Philippines is located at 3rd Level Main Wing, Shangri-La Plaza, Mandaluyong. Book an appointment or find out more about the new collections by contacting 0917-8194814. — Joseph L. Garcia
Vivant eyes P10-B water infra push through 2030
CEBU-BASED energy and water conglomerate Vivant Corp. said it plans to invest around P10 billion over the next six years to expand its water infrastructure portfolio.
“As we deepen our presence in the water sector, we are identifying opportunities that match both our capabilities and our commitment to progress,” Vivant Chief Executive Officer Arlo G. Sarmiento told shareholders last week.
“If conditions align and projects proceed as anticipated, we are looking at allocating around P10 billion over the next six years for investments in water infrastructure, spanning bulk water supply, wastewater treatment, and distribution in areas where access remains constrained,” he added.
Among the projects in the company’s pipeline is a P2-billion utility-scale seawater desalination plant in Cordova, Cebu, which is expected to produce up to 20 million liters per day of potable water in its first phase — enough to meet the average daily consumption of 20,000 households.
The company said testing and commissioning of the plant are currently underway, with commercial operations expected by the second half of the year.
Vivant Hydrocore Holdings, Inc. (Vivant Water), a subsidiary of Vivant, signed a 25-year joint venture agreement with the Metropolitan Cebu Water District to supply potable water from the desalination plant.
“This marks the Philippines’ first utility-scale seawater desalination facility, an innovative, scalable solution to help Metro Cebu bridge its water deficit and build resilience amid growing demand and climate pressures,” Mr. Sarmiento said.
Vivant Water President Jess Anthony Garcia said the company is actively exploring areas within Cebu where water access remains limited or service quality requires improvement.
“Our evaluation considers projected demand growth, infrastructure gaps, and the financial viability of long-term operations,” he said.
Meanwhile, Mr. Sarmiento said the wastewater treatment facility in Puerto Princesa, Palawan — which processes 2,000 cubic meters of sewage and 70 cubic meters of seepage wastewater per day — remains fully compliant and consistently operational.
Vivant has investments in companies engaged in electric power generation and distribution, as well as in the retail electricity supply business. It has also entered the water sector with a diversified portfolio that includes bulk water supply, wastewater treatment, and water distribution. — Sheldeen Joy Talavera
‘Recovering at home,’ Giorgio Armani to miss fashion show for first time in his career
MILAN — Giorgio Armani will not attend his group’s two shows at Milan’s Men’s Fashion Week as he is currently recovering at home, a company statement said on Friday, the first time in his career he will miss one of his catwalk events.
The designer, who will turn 91 in July, will not be at the Emporio Armani catwalk on Saturday or at the Giorgio Armani show on Monday, the statement said. It did not expand on his current health conditions.
Italian newswires reported on Friday that Armani had been in a Milan hospital for some days.
“Mr. Armani has worked with his usual dedication on the collections that will be presented,” the company statement said, adding that although he could not be there in person, he will follow every step of the shows.
Known as “Re Giorgio” — King Giorgio — the designer is known for overseeing every detail of his collection and every aspect of his business, from advertising to fixing models’ hair as they head out onto the catwalk.
At the end of all his shows, he comes out from backstage and onto the catwalk to greet his audience.
In his absence, Leo Dell’Orco, head of menswear design, will be doing so on his behalf, the group added. — Reuters
G-Shock: younger than ever
WHILE the new G-Shock GA-V01 series looks decidedly young, it harks back to the G-Shock’s very first day in the 1980s.
The story of G-Shock’s inventor, Kikuo Ibe, is well known. He set out to make an unbreakable watch after one given to him by his father broke. He got the inspiration from throwing a rubber ball, which later evolved into him dropping a G-Shock prototype from a window.
That same story now inspired the GA-V01, which looks and feels quite bouncy, with spikes on the side and soft plastic exteriors which make it feel almost like a toy. The toy-like exterior belies its toughness though: the hands, for example, according to AJ Sevilla, who works in visual merchandising and business development at Casio Computer Co., Ltd., bounce back (and act as a shock absorber).
“The hands aren’t that rigid. It actually has a little bit of play. It bounces back to the current time every time you drop it,” he said in an interview at the watch’s launch in Bonifacio Global City’s Atmos.
He also pointed to the watch’s curved glass crystal. “It’s very hard to manufacture something like that,” he said. “It actually enhances the shock resistance. It distributes the force when you drop it.”
Other features of the watch include water resistance up to 200 meters, a stopwatch, a countdown timer, alarms, a dual LED lighting surface, and a full auto-calendar to 2099, among others.
Back to the design: as we mentioned, the design is a bit toy-like, but some toys are famously known to withstand bites, kicks, and stomps from children. Mr. Sevilla said, “The whole watch is just one piece. When you drop it, it absorbs all the shock. You have less things to break.”
The young appearance of the watch is also timely (pun intended): it’s ripe for the young’s Y2K nostalgia (but maybe also their own parents’). “It’s a Y2K-inspired design — for the generations who didn’t experience G-Shock at its height.”
The watch is available in G-Shock stores in the Philippines starting at P9,800 and comes in four color options: classic G-Shock black, neon blue, neon yellow, and silver metallic.
The watch launched exclusively at Atmos on June 13, and will be sold starting on June 27 at the Casio Philippines website and on July 4 in select G-Shock stores nationwide. — Joseph L. Garcia
Kiefer Ravena on his holistic approach to wellness
As a seasoned basketball player himself, Kiefer Ravena is no longer a stranger to discipline. As one of the top basketball players in the Philippines — and now a player of Yokohama B-Corsairs in Japan’s B.League, his success on the court is built on more than just talent — it’s the result of relentless consistency and a well-balanced approach to fitness.
In an interview, Kiefer shared practical tips on how he maintains his health and performance, both on and off the court.
Stick to your diet
Maintaining peak physical condition takes more than just rigorous training. For Kiefer, a well-balanced diet is essential to staying fit.
“One thing I’ve learned from being overseas is the consistent discipline you need when it comes to your diet,” he shared. “One cheat day can lead to another. I try to avoid sweets as much as I can and make sure to eat on time and eat healthy.”
Kiefer understands how food choices directly impact overall fitness. By limiting sugar intake and following a structured meal schedule, he ensures his body receives the nutrients it needs to perform at its best.
In addition to dieting, hydration is a top priority. Kiefer makes a conscious effort to drink enough water each day, as proper hydration aids in muscle recovery, maintains energy levels, and supports optimal performance.
Strength training as a necessity
Strength training, according to Kiefer, is a non-negotiable part of his fitness regimen.
“Strength training is just as important as the games,” he said.
Competing at a high level demands that athletes push their bodies to the limit, and without proper conditioning, the physical toll of the season can be overwhelming.
Kiefer credits his endurance on the court to a strict and consistent training routine. He believes that beyond skills and strategy, physical preparedness is what enables athletes like him to maintain peak performance.
For those aiming to stay in top shape, Kiefer offers straightforward advice: stay consistent. Fitness, he emphasized, is a long-term commitment that requires dedication. It’s not just about short-term gains; it’s about building and sustaining a healthy, active lifestyle over time.
Prioritize rest
Peak performance is often associated with rigorous training and intense practice sessions. However, the star athlete emphasizes that rest and recovery are just as essential to maintaining a strong and healthy body.
Kiefer follows a structured recovery routine to ensure his body can withstand the demands of high-level competition.
“Recovery equipment, the right supplements, and natural rest,” he shared. “I’ve developed this routine, and it has helped a lot in allowing me to continue what I’m doing.”
While pushing physical limits is a key part of athletic growth, neglecting recovery can lead to fatigue, injuries, and a decline in overall performance.
Consistency in routine
Training requires discipline, and for many athletes, staying consistent is often the biggest challenge. But for Kiefer, the secret to staying fit and healthy lies in one word: routine.
“Routines and daily reminders of why I’m here playing overseas,” he shared.
From early morning workouts to scheduled recovery sessions, having a set plan minimizes distractions and keeps performance levels high. Sticking to a routine ensures that training remains a priority even when fatigue sets in or outside pressures arise.
Listen to your body
While regular exercise is essential, overtraining is a common pitfall among fitness enthusiasts and athletes alike.
Kiefer warns that pushing too hard can often do more harm than good. “You have to really listen to your body. I feel like that’s the only way,” he shared.
When the body is overworked, performance may decline instead of improve. Overtraining can also lead to fatigue and a higher risk of injury. That’s why it’s crucial to recognize the need for rest and give the body time to recover.
Keep a strong mental game
Staying fit and healthy is often associated with regular exercise, but mental well-being is just as important. Kiefer emphasized that clearing the mind and trying new activities can make a significant difference in maintaining overall health.
“Clear your mind every now and then. Find something new to do — something that challenges your curiosity and competitiveness, and is different from what you regularly do,” he explained.
Choose the best health partner
For Kiefer, staying fit goes beyond the court — it’s also about making smart life choices. One of those choices is Cocolife’s ARUGA plan, which provides flexible and affordable insurance options.
Unlike traditional health insurance plans, Cocolife’s ARUGA offers comprehensive health coverage, including benefits for critical illnesses, serious medical problems, and intensive care unit (ICU) confinement.
ARUGA offers a P1,000,000 medical insurance benefit for serious health conditions for just P147 per day. Additionally, up to P200,000 is covered for serious illnesses in their early stages.
In the case of unforeseen events, ARUGA eases the financial burden on the family by ensuring financial security for the beneficiaries.
If the policyholder outlives the policy and no major health condition benefit has been paid, the ARUGA plan includes a “return of premium,” in which they will receive 100% of the entire basic premiums paid.
As a Filipino basketball player competing on the international scene, it’s important for Kiefer to feel confident and secure about his health — allowing him to stay focused on training and performing at his best. That’s why he chooses Cocolife ARUGA as his trusted health and financial partner. Cocolife offers comprehensive insurance products and services designed to meet the evolving needs of Filipinos in all walks of life.
“Cocolife is proud of Kiefer Ravena for showcasing the excellence of Filipino athletes abroad,” said Cocolife President and CEO Atty. Martin A. Loon. “We remain committed to supporting him — and other Filipino athletes like him — by offering top-quality health and financial products and services that empower them to stay focused on achieving their dreams.”
Learn more about Cocolife ARUGA plan by going to https://www.cocolife.com/products/individual-insurance/.
Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.
Join us on Viber at https://bit.ly/3hv6bLA to get more updates and subscribe to BusinessWorld’s titles and get exclusive content through www.bworld-x.com.
Online lending platforms face stricter SEC monitoring
THE Securities and Exchange Commission (SEC) said it is intensifying its monitoring of financing and lending companies by requiring the submission of landline contact details, particularly for those operating online platforms and mobile applications.
In an order dated June 20, the SEC’s Financing and Lending Companies Division (FinLend) directed firms to provide landline numbers for both their principal offices and branches.
“The SEC is mandated to carry out the state’s policy under the Financing Company Act (FCA) and Lending Company Regulation Act (LCRA) to, among others, regulate the establishment of financing and lending companies to place their operation on a sound, efficient, and stable condition to derive the optimum advantages from them as an additional source of credits, and to prevent and mitigate, as far as practicable, practices prejudicial to the public interest,” the order said.
The agency said the company’s name and address must match those declared in its articles of incorporation.
Firms are also required to submit proof of the billing statement for the landlines to the SEC within 15 days from the issuance of the order.
If unable to comply by the deadline, a company’s president must execute an affidavit affirming that an application for a landline has been filed.
The affidavit, along with proof of application, must also be submitted within the same 15-day period.
Proof of landline installation must be submitted to the SEC within three days from the installation date.
Companies that have transferred offices or updated their registered contact details must likewise submit an affidavit, the SEC said.
“The SEC has been granted by the FCA and LCRA the power to promulgate additional requirements as may be necessary,” the order said.
Failure to submit, or late submission of, the required documents will result in penalties under the FCA or LCRA, according to the SEC.
The commission also warned that the submission of false, inaccurate, misleading, or incomplete information or documents will be deemed non-compliance and penalized in accordance with existing laws, SEC memorandum circulars, and other relevant regulations.
“Such penalties shall include, but is not limited to, suspension and/or revocation of the certificate of authority to operate as a financing or lending company,” the SEC said.
On May 30, the SEC FinLend issued an order revoking the corporate registration of 401 lending corporations for failing to submit their reportorial requirements. Their certificates of authority to operate as lending companies were also revoked.
The companies, classified as delinquent, failed to file audited financial statements, general information sheets, reports on director or trustee compensation, and director or trustee performance appraisals along with the standards or criteria used for assessment.
In October 2023, the SEC launched an amnesty program allowing companies to settle fines and penalties for late or non-compliance with reportorial requirements at reduced rates.
In a separate order dated May 27, the SEC FinLend also revoked the corporate registration of 47 financing companies for non-compliance with reportorial requirements. — Revin Mikhael D. Ochave
Manila Water shares climb as East Bay plant upgrade nears completion
MANILA WATER Co., Inc.’s (MWC) shares rose in value last week following the announcement of progress on its East Bay Water Treatment Plant upgrade, analysts said.
Data from the Philippine Stock Exchange (PSE) showed that Manila Water was the seventh most actively traded stock, with 32 million shares changing hands and a total value turnover of P1.21 billion as of Friday’s close.
Week on week, Manila Water’s share price jumped by 14.2% to P39.40 from P34.50. This outperformed the 1.2% gain of the industrials sub-index and the 0.9% decline of the PSE index.
Year to date, the utility’s share price has surged by 45.9% from its closing price of P27 on Dec. 27.
Luis A. Limlingan, head of sales at Regina Capital Development Corp., said the high completion rate of Manila Water’s East Bay upgrade may have been interpreted by investors as a “positive signal of growth… potentially driving the stock price up.”
On Tuesday, Manila Water said the raw water intake structure under Phase 2 of its East Bay project was 92% complete.
The structure is designed to draw 200 million liters of water per day from Laguna Lake to reduce reliance on Angat Dam by sourcing water from alternative supply points.
The intake structure is part of a P525-million project that began in June 2023 and is targeted for completion by the third quarter of this year.
“[This indicates] the company’s ability to meet its infrastructure commitments and enhance long-term water supply reliability,” Mr. Limlingan said in a Viber message.
In addition to infrastructure developments, Mr. Limlingan said the share price increase may also be linked to the upcoming initial public offering (IPO) of Maynilad Water Services, Inc.
The Securities and Exchange Commission approved Maynilad’s IPO application on June 2.
At up to P20 per share, Maynilad plans to offer 1.66 billion common shares, up to 249.05 million shares as part of an overallotment option, and 24.9 million shares under a preferential offer.
The offer period will run from July 3 to 9, with the listing on the PSE set for July 17.
Mr. Limlingan said the entrance of another water utility into the market is a key development for investors monitoring Manila Water.
“It could either intensify competition in the water utility sector, or reflect favorably on the industry, which could boost MWC’s profitability,” he said.
Diversified Securities, Inc. Equity Trader Aniceto K. Pangan said in a text message that Manila Water’s strong first-quarter financial results may support continued upward momentum in the company’s share price.
In a disclosure to the local bourse, Manila Water reported a 14.2% year-on-year increase in attributable net income in the first quarter to P3.56 billion from P3.12 billion a year earlier.
Consolidated revenue for the quarter also rose by 7.2% to P9.54 billion from P8.82 billion in the same period last year.
Mr. Limlingan said recent developments are fueling a positive outlook for the stock this week, although a technical correction may occur due to its overbought condition.
“For the upcoming week, MWC’s support could be around P36 to P37, while the resistance level could be at P40,” Mr. Limlingan said.
Mr. Pangan, meanwhile, identified immediate support and resistance levels at P37.65 and P39.60, respectively. — Matthew Miguel L. Castillo