Approved building permits fall 8.5% in July
APPROVED building permits declined 8.5% year on year in July as residential construction projects slumped, the Philippine Statistics Authority (PSA) reported.
Preliminary data showed building projects covered by the permits numbered 15, 395 in July from 16,821 a year earlier.
This was a turnaround from the 12.3% growth in July 2024 and the revised 14.9% expansion in June.
For that month, constructions projects covered 3.47 million square meters (sq.m) of floor area, slipping 2.1% year on year from 3.54 million sq.m.
These building projects that received approval were valued at P44.54 billion, 7.5% lower than a year earlier when it reached P48.16 billion.
Permits for residential projects, which accounted for 66% of the total, declined 8.5% to 10,157 in July.
These projects were valued at P19.77 billion, against the P19.74 billion a year earlier.
Single homes made up 79.1% of the residential category with approved permits declining 10.9% to 8,034.
Applications for apartment buildings rose by 2.5% to 1,957 while applications for duplex or quadruplex homes contracted by 3.1% at 155.
On the other hand, nonresidential projects tallied 3,205 approvals in July, decreasing 8.8% from a year earlier.
Nonresidential permits were valued at P19.84 billion, down 16.6% from P23.78 billion a year earlier.
Approved commercial construction permits numbered 2,150, down 11.3%.
Permits for additions — construction that increases the height or area of an existing building — dropped 16% to 429 in July, while alteration and repair permits totaled 1,133, down 15%.
Industrial permits rose 27.4% to 302, while institutional projects fell 12.1% to 582 approvals.
Agricultural projects totaled 89 approvals, down 19.1%, while other nonresidential works reached 82 building permit approvals, down 2.4%.
Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon) had the most approved construction projects for that month accounting for 21.8% of the total with 3,350 permits.
This was followed by Central Luzon (17.5% share with 2,697 permits), and Central Visayas (7.9% share with 1,210 permits).
By value, Calabarzon cornered P8.96 billion worth of construction projects, followed by the National Capital Region (P7.82 billion), and Central Luzon (P6.61 billion).
The PSA said construction statistics are compiled from the copies of original application forms of approved building permits as well as from demolition and fencing permits collected monthly by the agency’s field personnel from the offices of local building officials nationwide. — Heather Caitlin P. Mañago
Nando may turn into a super typhoon by Monday
By Edg Adrian A. Eva, Reporter
Tropical Storm Nando is expected to intensify into a typhoon or even a super typhoon as it moves toward Northern Luzon, where tropical cyclone wind signals (TCWS) of up to Signal No. 5 may be hoisted, according to the state weather bureau on Friday.
“As it gets closer and closer to our country… it is expected to further intensify and by tomorrow it may become a typhoon, and by Monday, a super typhoon,” Nathaniel T. Servando, administrator of the Philippine Atmospheric, Geophysical, and Astronomical Services Administration (PAGASA), said during a press conference.
Nando, with sustained winds of 85 kilometers per hour (kph) and gusts of up to 105 kph, was located 915 kilometers east of Central Luzon, moving westward at 20 kph, according to PAGASA’s 2:00 p.m. bulletin.
During the forecast period, PAGASA weather specialist Benison Jay N. Estareja said Tropical Storm Nando is not yet directly affecting any part of the country.
However, if it continues along the projected track, it may affect extreme Northern Luzon and could either pass close to or make landfall over the Babuyan Islands between Monday afternoon and early Tuesday morning.
PAGASA said that starting Saturday, TCWS may already be raised in several areas and could be heightened as Nando approaches.
Nando is also expected to enhance the prevailing Southwest Monsoon, bringing heavy rains to areas not directly affected by the cyclone in the next few days.
Mr. Servando urged residents in areas that may be affected by the storm to take immediate action.
“Act immediately, secure your homes, and follow possible measures that may be implemented by your local leaders to minimize the impact of Nando,” he said.
Meanwhile, the earlier typhoon Mirasol, now with the international name Mitag, exited the PAR on Thursday and continues to move farther away.
According to an 8:00 am situational report released Friday by the National Disaster Risk Reduction and Management Council (NDRRMC), more than 64,000 individuals, or about 17,500 families, have been affected by the combined effects of Mirasol, Nando, and the Southwest Monsoon, particularly in Regions II, CAR, III, V, and VI.
Global economy takes Trump shocks in stride, for now
WASHINGTON/LONDON – Threats to the global economic order have come at a furious pace during President Donald Trump’s first eight months in office – from a massive tariff shock to a battle for control of the Federal Reserve and even an emerging form of US state capitalism.
But the reaction in terms of world equity and bond markets and economic activity has been a somewhat remarkable shrug: The global economy has kept growing, stock prices have surged and inflation fears remain muted.
While many players worry that things could still unravel given the right spark, it is a far cry from the most dour predictions early in Trump’s term, when recession odds soared, markets plummeted, and headlines even fretted over the cancellation of Christmas in a collapse of global trade.
“The global economy continues to exhibit considerable resilience amid heightened policy and political uncertainty,” BNP Paribas economists wrote recently, attributing it to “supportive financial conditions, robust household and corporate balance sheets, the promise of an AI-driven productivity boost, and lower energy prices, among other factors.”
Perhaps the biggest factor is that one of the deepest early fears – of a trade war of steadily rising tariffs and a halt to global shipping – has not materialized.
Deals, albeit sketchy, are in place with exporting nations in Europe and Asia. And while the landscape remains in flux, the accommodation shown by US trading partners threatened with sky-high tariffs resulted in more modest levies that are being shared by exporters, importers and consumers in what economists feel has become a manageable distribution.
Meanwhile, Trump’s attempts to oust the Fed chair and fire one of its governors, potentially among his most-disruptive efforts, have so far failed, and financial markets appear willing to ignore the risk of rising White House influence over monetary policy until it happens.
Indeed, the yield on the US 10-year Treasury note – one of the vehicles investors could use to discipline US policy – has fallen from around 4.6% when Trump took office to around 4.1%.
While that might reflect growth doubts, it is not what would happen if global investors were losing faith in the US, the Fed’s independence or the long-term path of US inflation.
The Fed is now comfortable enough about meeting its inflation target that it cut its benchmark rate by 25 basis points this week. Fed Chair Jerome Powell played down the market impact of Trump’s calls for him to resign and the president’s so-far unsuccessful attempt to fire Governor Lisa Cook.
“I don’t see market participants… factoring (that) in right now in terms of setting interest rates (on Treasury bonds and other market-based securities),” he told a post-meeting press conference.
GROWTH FORECASTS RAISED
At least for now, the uneasy calm has granted the rest of the global economy some breathing space.
Despite its broader slowdown, China’s central bank left a key interest rate unchanged on Thursday and market watchers said resilient exports and a stock market rally allowed policymakers to withhold fresh stimulus.
The euro zone is doing better than expected, with the European Central Bank last week raising its 2025 GDP growth forecast to 1.2% from 0.9% last year amid what ECB President Christine Lagarde called “resilience in domestic demand.”
Debt-laden Italy is tidying up its public finances to the point that it may get a ratings boost from Fitch on Friday. A Spanish growth spurt shows no signs of abating: The Bank of Spain this week lifted its 2025 growth forecast to 2.6% as tourism and other sectors support domestic demand.
Europe’s biggest economy, Germany, is on the cusp of a huge leap from this year’s stagnation to GDP growth pushing into 1.5-2.0% in 2026 and 2027 as it unleashes big public spending on infrastructure and defense projects, combined with tax cuts.
“The German fiscal plan is going to be a huge, huge support for the economy from 2026,” Edmond de Rothschild Asset Management co-head of equities Caroline Gauthier said.
Elsewhere, Japanese policymakers are still trying to explain buoyant manufacturer sentiment which the Reuters Tankan shows at its best in more than three years.
Emerging-market economies are holding up, supported by US dollar weakness. Analysts cite as bright spots Brazil, Mexico and India, with the latter hoping tax cuts can boost domestic demand to partly offset the hit expected from US tariffs.
“LONG, LONG TAIL ADJUSTMENT”
But the sense the current benign situation is not built on the firmest of foundations lingers – and early signs of the hit to exporters are being seen from Japan to Germany, if not as dramatically as once feared.
“The most plausible explanation for this is that tariff effects are taking time to surface,” Bank of Japan Deputy Governor Ryozo Himino said this month, warning “the US administration may roll out policies we have yet to foresee”.
Others detect a lack of realism among investors about the US economy’s real health, primed to see signs of weakness as a chance to bet on Fed rate cuts.
Powell acknowledged the concentration of US growth in AI-driven investment and spending by high-end consumers; meanwhile housing is weak, hiring is low, and there could be long-term effects from things like Trump’s pressure on universities, the defunding of research and the government taking stakes in some US companies.
“US labor market weakness should have everyone on a hair trigger for recession,” said Janus Henderson Investors multi-asset portfolio manager Oliver Blackbourn. “But there is just a degree of complacency out there and it comes down to the fact there is this potential for a Fed put” – the belief the Fed would rush to the rescue if growth slowed.
Alan Siow, a portfolio manager at investment manager Ninety One, said understanding what is going on in global supply chains could take time because a lot of stock was built up during the pandemic and a lot of front-loading of activity occurred ahead of Trump’s tariffs.
“The economic scholars would say that this was always going to be a long, long tail adjustment,” he said, warning that market levels might not reflect underlying realities.
“We’re making all-time highs in everything,” he said. “As an investor, I’m uncomfortable with that. I think I’m not alone.” — Reuters
MMDA mobilizes personnel for September 21 anti-corruption rally
The Metro Manila Development Authority (MMDA) on Friday said it would deploy its personnel to help maintain peace and order at the Sept. 21 rally against corruption.
“As part of its assistance, the MMDA will deploy personnel for traffic management, crowd control, emergency response, and to ensure the safety of attendees,” the agency said in a statement in Tagalog, following its meeting with the rally organizers.
MMDA Chairman Romando S. Artes said the agency will work with the Philippine National Police to ensure peace and order and avoid disruption to motorists.
At Epifanio de los Santos Avenue (EDSA) People Power Monument, one of the venues of the rally, the MMDA plans to open a zipper lane along White Plains Avenue if portions of Temple Drive are used as a parking area.
The agency reminded those who will participate in the rally to park their vehicles at nearby shopping malls, and not near the rally venues to avoid parking problems.
The Sunday rally, dubbed the Trillion-Peso March, will be held at the EDSA People Power Monument in Quezon City and Luneta Park in Manila, according to its spokesperson Francis Joseph Aquino Dee during a press conference on Monday.
He added that over 15,000 people are expected to gather at the EDSA site alone.
The Trillion Peso March is held on Sept. 21, which also marks the 53rd anniversary of former President Ferdinand Marcos, Sr.’s declaration of martial law. — Edg Adrian A. Eva
Ombudsman lifts preventive suspension on GSIS president Veloso
The Office of the Ombudsman has lifted the preventive suspension on Government Service Insurance System (GSIS) President and General Manager Jose Arnulfo “Wick” A. Veloso and four other officials.
In a statement, Mr. Veloso said he will comply with the Ombudsman’s directive to resume his duties at the GSIS.
“The findings of the Ombudsman affirm that there is insufficient ground to believe that my continued service would prejudice the ongoing investigation. I welcome this as a recognition of the professionalism and integrity with which I have conducted myself throughout my tenure,” he said.
In an order dated Sept. 18, the Ombudsman said the continued imposition of preventive suspension on Mr. Veloso and four other officials was no longer necessary.
“Evaluation of the case records and submitted pleadings reveals that the documents/evidence pertaining to the proper disposition of this case are already on hand,” the Office of the Ombudsman said.
“Moreover, there appears insufficient ground to believe that their continued stay in office may prejudice the investigation of the case filed against the respondents,” it added.
Mr. Veloso and four other officials were ordered to return to the GSIS namely Executive Vice-President Jason C. Teng, Vice President Mary Abigail V. Cruz-Francisco, Officer II Jaime Leon K. Warren, and Acting Office IV Alfredo S.A. Pablo.
Former GSIS Executive Vice-President Michael M. Praxedes and Vice-President Aaron Samuel Chan, who were also covered by the initial preventive suspension order, are no longer affiliated with the agency.
In July, the Office of the Ombudsman ordered the preventive suspension without pay for six months against Mr. Veloso and six other GSIS officials for purchasing P1.45 billion in preferred shares from AlterEnergy Holdings Corp. under a private placement.
Mr. Veloso earlier said that the Ombudsman issued the preventive suspension without considering his counter-affidavit.
“From the beginning, I have always acted in good faith and in accordance with the policies, procedures, and legal limits governing GSIS,” he added.
“I look forward to returning to the institution, not to dwell on past distractions, but to continue the work of protecting and growing the GSIS fund for the future of all government workers.” — Katherine K. Chan
PHINMA chairman emeritus Oscar Hilado passes away
PHINMA Corp. chairman emeritus Oscar J. Hilado passed away on Sept. 17, the company said on Friday.
Mr. Hilado was 87.
“The entire PHINMA group of companies extend our deepest condolences to the family and loved ones of Mr. Hilado. We are profoundly grateful for his invaluable contributions and service to PHINMA,” the company said in a disclosure to the stock exchange.
Mr. Hilado, also known as OJH, was chairman of the PHINMA board from 2003 to 2021. He was a director of PHINMA since April 1969.
Mr. Hilado joined the company 60 years ago as the executive assistant to PHINMA founder Ramon V. del Rosario.
“Through his stellar financial sense and business acumen, Mr. Hilado steered the Group through challenging times and into new frontiers,” the company said in a separate statement.
Mr. Hilado was also chairman of the board of PHINMA, Inc., vice chairman of PHINMA Properties Holding Corp., and Union Galvasteel Corp., a member of the board of Philcement Corporation, Union Insulated Panel Corporation, PhilCement Mindanao Corporation, PHINMA Hospitality, PHINMA Education Holdings, Inc., PHINMA Education Schools, and a trustee of PHINMA Foundation, Inc.
Beyond the PHINMA Group, he was an independent director and chairman of the audit committee of A. Soriano Corporation and Philex Mining Corporation, director of Smart Communications, Inc., Seven Seas Resort and Leisure, Inc., Digital Telecommunications Philippines, Inc., Manila Cordage Company, Beacon Venture Holdings, Inc., and United Pulp and Paper Company, Inc.
“Mr. Hilado’s unwavering commitment to making lives better has uplifted countless Filipinos and made a significant, long-lasting impact in the business community and civic society,” PHINMA said.
Mr. Hilado was a Certified Public Accountant (CPA) with a commerce degree from De La Salle College in Bacolod and a Master’s Degree in Business Administration from the Harvard Graduate School of Business.
In lieu of flowers, donations in support of the Mr. Hilado’s advocacies can be accepted by PHINMA Foundation. – Almira Louise S. Martinez
South Korea’s LG Energy was using US visa workarounds before Trump, documents show
SEOUL – South Korea’s LG Energy Solution was using workarounds to US visa restrictions well before Donald Trump returned as president and his administration launched a massive crackdown that detained hundreds of LG workers, internal documents show.
LG Energy Solution’sUS reliance on a visa waiver program started under Trump’s predecessors, reflecting long-running problems South Korean companies say they face in getting short-term visas for specialists they need for their high-tech plants in the US
Company guidelines, detailed in the August 2023 LG documents seen by Reuters, advise employees and subcontractors to use the short-term Electronic System for Travel Authorization waiver program, avoiding business visa procedures, after many visa applications had been rejected.
More than 300 Koreans, including 250 LG employees and contractors, were detained this month at LG’s car battery venture with Hyundai Motor, in the US Department of Homeland Security’s biggest immigration raid ever.
The globally publicized raid near Savannah, Georgia, including videos of shackled workers, sent shockwaves through South Korea, a major US investor and one of Washington’s closest Asian allies.
The Trump administration has signalled it wants to revise visa policy to accommodate South Korean investment. But the entrenched use of ESTA waivers, rather than applying for B-1 or other work visas, highlights risks for South Korean companies building factories in the US as they seek to avoid Trump’s tariffs and send more skilled workers to support the expansion, even as Trump tightens immigration enforcement.
The LG guidelines for employees and subcontractors cite increasing US rejections of B-1 business visa requests by South Koreans, recommending instead the ESTA visa-free travel option.
DON’T SAY ‘WORK’
The guidelines provide tips, such as advising workers to dress neatly for US customs interviews, bring invitation letters from their US business partners and avoid saying “work” in the interviews.
“Using the word ‘work’ to describe the purpose of your visit can cause suspicion and lead to US entry denial,” the guidelines say.
They caution against excessive use of ESTA, warning that those who use it to enter the US frequently and stay for two to three months per visit could be denied entry at the airport.
US officials say the detained workers were engaged in activities beyond the scope of their visa authorization or overstayed their visas. A US immigration lawyer representing some of the detained LG workers has said they were doing legally authorized activities. The workers were released and returned home to cheers and emotional reunions last week.
“We advised employees to utilize ESTA for business trips, given the high rejection rate of B-1 visas at the time and the fact that a B-1 visa denial would also block ESTA eligibility,” LG told Reuters in a statement responding to questions on its guidelines.
“In March last year, we updated our guidelines, advising employees to use ESTA for short-term or one-time assignments of less than one month, and to obtain appropriate visas, such as ESTA, B-1 visa or L-1 visa, for trips lasting between one and six months,” the company said.
ESTA allows stays of up to 90 days, half the limit of the B-1 visa. Both restrict the types of work that holders can undertake and are not meant to be used repeatedly.
About half the detained Korean workers were on ESTA, including 44% of the LG workers, lawmaker Han Jeong-ae has said, citing company data.
REASONABLE BECAME ‘ABUSE’
State Department guidance says temporary business visitors can “install, service, or repair commercial or industrial equipment or machinery purchased from a company outside the United States or to train US workers to perform such services”.
Immigration lawyers say such activities, as well as training US construction workers, can qualify under ESTA waivers and the B-1 visa.
“Employees on business trips are responsible for installing machinery manufactured outside the United States and for set-up to ensure early stabilization of production processes, as well as transferring necessary know-how to locally hired workers,” LG told Reuters. “These activities fall within the intended purposes of ESTA or B-1 visas.”
Some South Korean workers have used ESTA to stay for up to three months and then visit again to continue their work, which could put them at risk of being denied US entries, immigration lawyers say.
“What began perhaps as a reasonable use of ESTA became an abuse,” said Robert Marton, a US immigration lawyer not involved in the Georgia case.
LG said it has asked the US to “consider creating a new visa type,” given that “B-1 visa and ESTA applications were denied despite being aligned with the intended purpose of travel.”
“Our company hopes that, for the smooth conduct of business, both governments will provide clear interpretations of the scope of work permitted under B-1/B-2 visas and ESTA, and that the visa system will be improved as soon as possible.”
South Korea said on Sunday that US Deputy Secretary of State Christopher Landau had expressed regret over the raid and called for Washington and Seoul to speed up working-level consultations to ensure the issuance of visas commensurate with the contributions of Korean workers. — Reuters
SM Prime shapes communities from Bay Area to Batangas and Tarlac
SM Prime Holdings, Inc. (SM Prime), one of Southeast Asia’s leading integrated property developers, continues to expand its influence across diverse markets — from large-scale urban townships to coastal resorts and attainable housing — by creating developments that fuse sustainability, functionality and long-term community value.
The Bay Area’s Integrated Landmark
Along the Bay Area in Pasay City, the SM Mall of Asia Complex (MOAC) remains the company’s flagship township. Master-planned to bring together retail, residential, commercial and leisure components, the 89-hectare estate has transformed the Bay Area into one of the country’s most dynamic growth corridors.
Anchored by the SM Mall of Asia and complemented by the SMDC Residences, MOA Arena, SMX Convention Center, the E-Com Centers, National University and hotels such as Conrad Manila and Lanson Place Mall of Asia, the complex has become a lifestyle, tourism and business destination. In the first quarter of 2025 alone, it welcomed 34.5 million visitors, underscoring its role as a magnet for both commerce and culture.
Nature-Integrated Living in Tagaytay Highlands
South of Metro Manila, SM Prime is redefining resort-residential living through projects under Highlands Prime, Inc. Trealva at Midlands West exemplifies this approach with its low-density master plan designed to preserve panoramic mountain views and open landscapes. Its emphasis on nature integration reflects the growing demand for healthier, more sustainable living environments outside urban centers.
Resort-Inspired Coastal Communities
Along the Nasugbu, Batangas coastline, Costa del Hamilo, Inc. is building communities that merge coastal charm with modern comfort. Pico Terraces, within Pico de Loro Cove at Hamilo Coast, introduces 211 premium units spread across two residential suites. With one- to three-bedroom configurations, it caters to both families and leisure-driven buyers. Resort-style amenities — including a cascading pool, indoor and outdoor fitness zones, landscaped lawns and a contemporary clubhouse — encourage a lifestyle that balances relaxation and activity.
Expanding Hamilo Coast’s footprint, M Village at Marina Estates is a 12-hectare subdivision that devotes over 60% of its area to open spaces, waterways and rain gardens. Designed in collaboration with WATG Singapore, Joel Luna Planning and Design, and H1 Architecture, M Village’s tropical modern aesthetic blends seamlessly with its forest backdrop.
With only 177 residential lots, it offers a unique blend of amenities such as meditation gardens, camping areas and bi-level pools, creating a community deeply rooted in sustainability and outdoor living.
Affordable Homes with Life’s Essentials
SM Development Corporation (SMDC) continues to drive affordable homeownership through its Symphony Homes brand. Newly launched this year, Symphony Homes Mabalacat offers homes with 5-star amenities. Next to Clark International Airport and Clark Freeport Zone, the resort style community features a clubhouse, lap pool, community sports courts, playground and parks.
Summer Hills Development Corporation (SHDC) under SMDC also carries projects such as Sunnyhomes in Padre Garcia, Batangas and Sunnyvale in Concepcion, Tarlac, which are designed to deliver attainable housing that does not compromise on planning or community features.
Accessible via the Lipa-Padre Garcia Bypass and Old Roads, Sunnyhomes offers two-storey townhouses on 52-sq.m. lots with a 48-sq.m. floor area. Standard amenities include a guardhouse, pocket parks, clubhouse, basketball and fun courts, playgrounds and CCTV security in key areas.
On the other hand, along McArthur Highway, within the Vicinity of SM Tarlac, Sunnyvale offers four home types: cluster bungalows, bungalow duplexes, clustered lofted homes and loftable duplexes.
Building Across Market Segments
From mega-townships to mountain retreats, from coastal estates to affordable subdivisions, SM Prime’s portfolio reflects a deliberate strategy: to meet the needs of a wide spectrum of buyers while embedding sustainability and community value into every project.
“These recognitions inspire us to keep pushing boundaries in design and sustainability,” said Jessica Bianca T. Sy, Vice-President and Head of Design, Innovation and Strategy at SM Prime and SMDC, who was named PropertyGuru’s Rising Star. “Our goal is to shape communities that are not only relevant today but will continue to thrive and evolve with future generations.”
At the recent 13th PropertyGuru Philippines Property Awards, SM Prime received multiple distinctions — including top honors for MOA Complex, Trealva, Pico Terraces, and Symphony Homes — cementing its reputation as a benchmark-setter in Philippine real estate.
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BSP limits cash withdrawals to P500k a day
The Bangko Sentral ng Pilipinas (BSP) is implementing a new cash withdrawal limit of P500,000 per day in a move to curb money laundering risks involving large cash transactions.
BSP Governor Eli Remolona Jr. issued on Thursday Circular No. 1218 directing all supervised financial institutions (BSFI) to implement “enhanced due diligence (EDD) on large value cash-related payments and transactions.”
Under the circular, a maximum of P500,000 or its equivalent in foreign currency may be withdrawn at once or via multiple transactions within one banking day.
The BSP said withdrawals exceeding the threshold shall only be processed via check payment, fund transfer, direct credit to deposit accounts or BSFI’s digital payment platforms.
“The BSP in its latest sectoral risk assessment and surveillance monitoring has noted money laundering, terrorism financing, and proliferation financing risks arising from cash transactions of banks and other BSP-supervised financial institutions,” the circular read. “These disclosed the use and abuse of cash-based transactions to move illicit funds into and out of the financial system.”
The BSP issued the circular amid on-going investigation into allegedly anomalous flood control projects involving government employees, contractors and other individuals.
“Through this reform, the BSP aims to strengthen measures against the use of cash for illegal activities, promote trust in the financial system, and ensure that it can respond to new risks,” the central bank said.
However, the central bank noted that BSFIs may still allow withdrawals beyond the P500,000 limit if the client provides evidence of a legitimate business purpose. Such transactions may be approved after the BSFI conducts enhanced due diligence and files a suspicious transaction report (STR).
“If the BSFI fails to satisfactorily complete the EDD procedures; or reasonably believes that performing the EDD process will tip-off the customer, it shall file a suspicious transaction report and closely monitor the account and review the business relationship,” the circular read.
“The BSFl shall also consider the alerts, red flags. and suspicious indicators, as well as typologies rioted/reported by relevant government agencies, involving large or unusual cash transactions in filing STR,” it added.
The circular will take effect in 15 calendar days following the publication in the Official Gazette or in a newspaper of general circulation.
On Wednesday, the Court of Appeals froze assets pointing to a potential money laundering scheme of 26 Department of Public Works and Highways (DPWH) officials and private contractors allegedly linked to anomalous government flood control projects. — Katherine K. Chan
Ombudsman orders preventive suspension vs 16 DPWH Bulacan personnel
The Office of the Ombudsman ordered the preventive suspension of 16 personnel from the Department of Public Works and Highways (DPWH) Bulacan 1st District Engineering Office.
In a statement on Friday, Acting Ombudsman Dante F. Vargas said the suspension orders were issued after the DPWH filed criminal complaints against several personnel.
The suspension order was also based on additional fraud audit reports by Commission on Audit Chairperson Gamaliel A. Cordoba on allegedly anomalous flood control projects worth P389.6 million located in Plaridel, Pandi, and Bocaue, Bulacan.
“The flood control projects in question are being tagged as ghost or graft-ridden projects, either through lack of necessary supporting documents, non-existence of any civil works, discrepancy in pinpointed location and even flawed approved bid plans,” the Ombudsman said.
The Ombudsman did not name the DPWH personnel.
“The suspension order was issued to prevent the personnel concerned from exerting influence over the ongoing investigation, as well as to safeguard public records and ensure that accountability measures can proceed without obstruction,” the Ombudsman said.
The suspension order took effect on Sept. 18. — Edg Adrian A. Eva
G ka na ba tumulong? Sa GBayanihan, you can donate LIVE to help lives!
GCash, the Philippines’ leading finance superapp and largest cashless ecosystem, is introducing a new way for Filipinos to support worthy causes through a first-of-its-kind livestream quiz show under its GBayanihan program. The initiative offers a fun and interactive experience that makes giving more engaging while continuing to channel support to nongovernmental organizations (NGOs).
Many NGOs in the country continue to face difficulties in generating consistent financial support, limiting their ability to sustain their causes. At the same time, Filipinos are often met with multiple calls for donations across different channels, making it difficult to know which platforms are legitimate and which NGOs are credible.
To help address this problem, GCash created GBayanihan, a trusted in-app donation feature that connects users with reputable organizations. GBayanihan is a curated list of NGOs that adhere to the highest standards of audit and governance. All featured NGOs have both a Philippine Council for NGO Certification (PCNC) accreditation, considered the gold standard certification in the NGO sector, and a solicitation permit from the Department of Social Welfare and Development (DSWD). These credentials confirm that featured organizations are authorized to raise funds and are properly audited.
GBayanihan serves as a bridge between millions of Filipinos and these trusted NGOs, ensuring every donation goes only to legitimate organizations.
The proceeds from the fund-raising activity will go to organizations engaged in community development, education, health, and shelter-building.
The telethon-inspired donation drive titled “Game to Give” combines entertainment, gamification, and philanthropy in one unique experience. It will feature 4 content creators competing in real-time trivia quizzes, each playing on behalf of their chosen causes. The winning influencer can secure up to ₱1 million in donations for their chosen organization. Among the causes to be represented are Ashley Rivera for Community Development, Hershey Neri for Education, Lottie Bie for Health, and Show Suzuki for Shelter. Featured NGOs are among the likes of UNICEF, ABS-CBN Foundation, InLife Foundation, and Virlanie.
What sets the event apart is its audience participation: every donation, even as small as 1 peso, by viewers translates into points for their chosen player’s team, directly linking support for NGOs with the excitement of competition. The show culminates with GCash awarding the winning creator with up to ₱1 million to be given to the NGOs under their cause, amplifying the impact of the fundraising drive and ensuring greater support for the beneficiary organizations.
“Through GBayanihan and Game to Give, we want to show how technology can open new opportunities for NGOs to reach supporters and raise funds in more innovative ways,” said CJ Alegre, AVP for Sustainability at GCash. “By leveraging the GCash network, we make it easier for Filipinos to engage with causes they care about, while creating a bigger collective impact for communities across the country.”
Game to Give is the pioneering GBayanihan project that connects livestream entertainment with charitable giving. By integrating the act of donating into digital platforms where people already spend their time, the initiative demonstrates that philanthropy can be simple, fun, and impactful.
With Game to Give, GCash reinforces its role as a bridge between technology and social good, showing how its network can help transform everyday digital interactions into meaningful support for NGOs.
Watch Game to Give this Friday, Sept. 19, live on the official GCash TikTok account with simultaneous streaming on Facebook, and donate via GBayanihan to help your chosen influencer and partner NGO win up to P1 million for their cause.
For more information, please visit www.gcash.com.
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After chaos of US cuts, aid chiefs urge world leaders at UN to step up
UNITED NATIONS – United Nations aid chief Tom Fletcher hopes the world body will fight back against a “sustained attack” on its values and finances next week at an annual gathering of world leaders, and said humanitarians could not afford to wait for the US to restore funding.
Aid worker killings rose nearly a third to almost 400 last year, the most deadly year since records began in 1997, according to UN data. Then in January, US President Donald Trump returned to power and slashed US foreign aid, sparking global humanitarian chaos.
“It has been a really rough year,” Fletcher told Reuters in an interview on Thursday, adding the UN should show world leaders how it can save lives and work to end conflicts.
“We reckon that the support is out there. I don’t think there is less support for kindness, compassion, global solidarity than there was just because of the results of a few elections.”
He remains hopeful that Washington, which was the world’s biggest humanitarian aid donor, could be convinced to restore and continue some funding, “but in the meantime, we can’t wait.”
The Trump administration cut billions of dollars in foreign aid that it believed was not aligned with its “America First” foreign policy. Trump has also said the US pays disproportionately for foreign aid and wants other countries to shoulder more of the burden.
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David Miliband, head of the International Rescue Committee aid group, said more than two million people had lost services – such as education in Afghanistan and healthcare for Sudanese refugees – after the US cut more than three-quarters of IRC’s grants and contracts.
“We have a very clear agenda that says to the US government: We can respect your determination to achieve reform. We can respect your determination to achieve value for money. Let’s work together to make sure that for a very small size of American income we’re able to do outsized good in the world,” he told Reuters in an interview on Thursday.
Miliband said Europe was going to step up to help fill the gap left by US cuts, but others needed to do so as well.
“We haven’t seen that yet,” he added.
The annual gathering of world leaders in New York next week will be more important than usual, Miliband said, with China pitting itself at the future of the multilateral system, while the US was taking an America first approach.
“There’s a void to be filled,” Miliband said. “I think that while for Americans, the UN can seem like bureaucracy or traffic jams in New York, for the rest of the world, they’re looking for leadership and that’s what we’re calling for next week.” — Reuters