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The Juans releases milestone album

THE JUANS (above) at the press conference announcing their latest album Tawid (inset).

THE POP ROCK band The Juans is dropping their latest album, Tawid, to celebrate their 10th year in the OPM scene. Ahead of its release on digital platforms on Sept. 12, the band performed a live showcase of the new songs on Aug. 29 at the SM North EDSA Skydome.

The album extends beyond their reputation as a “hugot band” that specializes in songs about heartbreak. It contains songs about love, self-reflection, happiness, and moving on. Tracks include “‘Di Na Masakit,” “Naiwan,” “Ako Na Lang,” “Tanda,” and “Magaan.”

At Tawid Live, fans were treated to collaborations onstage — with Janine Berdine for “Ano Ba Talaga Tayo?” and Rhodessa for “Missed Call.”

For band members Carl Guevarra, Japs Mendoza, RJ Cruz, and Chael Adriano, Tawid is the culmination of a long process of elimination from a pool of 20 to 30 songs. The album contains 10 tracks.

“Halos kalahating taon o higit pa namin pinaghandaan ‘yon (We’ve been preparing for this for almost half a year or more.),” said Mr. Adriano at the album’s press launch on Sept. 4 in Quezon City.

“Some of the songs were written years ago. When we performed them in Tawid Live, we were happy with the response of the Juanistas. We’re excited for them to hear the studio album this time,” he explained.

The Juans frontman Mr. Guevarra added that song selection was indeed the most challenging part of the process.

“It really showed our maturity as artists, as band members, and as songwriters. Many songs couldn’t make the cut because we had to commit to the storytelling. We wanted to write from a place where we actually are in our lives,” he said.

As for specific songs that resonated with the audience at Tawid Live, the band said that there seemed to be a wide variety of favorites among fans. “Ano Ba Talaga Tayo?” was among the most popular, since it featured Janine Berdine’s electric chemistry with Mr. Guevarra during the concert.

“Marami rin nag-post online ng kanta na “Ngiti” (Many people posted online about the song “Ngiti”). It feeds their lover-girl era. It’s what they listen to after the heartbreak, ‘pag di na masakit (when they’re no longer in pain),” said Mr. Cruz.

For Mr. Mendoza, the opening song, “Gusto Kita,” was another one that received good attention.

“May mga nag-tag sa amin kasi pasabog daw ’yung opening. Sobrang nagustuhan nila ’yung energy. (There were people who tagged us in their posts saying the opening was explosive. They really liked the energy),” he said.

After the release of Tawid, which means “to cross,” The Juans hope to continue their steady momentum after 10 years in the music business — with the album as the beginning of a new stage of their career.

“Ito ang unang hakbang sa pagtawid namin to our next season (This is the first step of our crossing to our next season). This is our tawid moment,” said Mr. Guevarra. “God will take us to a different place, to a different level.”

Tawid comes out on all digital music streaming platforms on Sept. 12. — Brontë H. Lacsamana

Tumandok leads Gawad Urian with 11 nominations

A SCENE from the film Tumandok.

WITH 11 nominations, Arlie Sweet Sumagaysay and Richard Jeroui Salvadico’s Tumandok leads this year’s pack of film nominees for the 48th Gawad Urian.

The Manunuri ng Pelikulang Pilipino released the list of nominations for the film awards last week.

Tumandok, produced by Southern Lantern Studios and Terminal Six Post, is a “docufiction” about the Ati people. Aside from Best Film, it was nominated in almost all categories: Direction, Screenplay, Production Design, Cinematography, Editing, Music, and Sound.

Acting nominations were also given to Tumandok cast members Jenaica and Rowena Sangher and Felipe Ganancial, all of whom are Ati people and first-time actors.

The next film with the most Gawad Urian nominations — 10 — is Best Picture nominee Kono Basho which was directed by Jaime Pacena II, a subtle drama set in Japan about grief and healing. Its nominations include Direction, Screenplay, Production Design, Cinematography, Editing, Music, and Sound.

Its two lead actresses, Gabby Padilla and Arisa Nakano, were both nominated for Best Actress.

Other nominees in the Best Picture category are thriller-drama Green Bones by Zig Dulay, documentary Alipato at Muog by JL Burgos, psychological drama Phantosmia by Lav Diaz, experimental fiction Rizal’s Makamisa: Pantasma ng Higanti by Khavn, and social drama The Hearing by Lawrence Fajardo.

This year’s Gawad Urian will be giving its lifetime achievement award — the Natatanging Gawad Urian — to actor Dante Rivero.

The 48th Gawad Urian awarding ceremony will be held on Oct. 11 at De La Salle University, Manila.

The annual Gawad Urian Awards are presented by the Manunuri ng Pelikulang Pilipino, an organization of film critics, writers, and scholars. — Brontë H. Lacsamana

The full list of nominees for the 48th Gawad Urian Awards are:

Best Picture: Alipato at Muog, Green Bones, Kono Basho, Phantosmia, Rizal’s Makamisa: Pantasma ng Higanti, The Hearing, Tumandok

Best Director: JL Burgos, Alipato at Muog; Zig Madamba Dulay, Green Bones; Jaime Pacena II, Kono Basho; Lav Diaz, Phantosmia; Khavn, Rizal’s Makamisa: Pantasma ng Higanti; Lawrence Fajardo, The Hearing; Arlie Sweet Sumagaysay and Richard Jeroui Salvadico, Tumandok

Best Actor: Carlo Aquino, Crosspoint; Baron Geisler, Dearly Beloved; Dennis Trillo, Green Bones; Ruru Madrid, Green Bones; Sid Lucero, Outside; Ronnie Lazaro, Phantosmia; Enzo Osorio, The Hearing

Best Actress: Lovi Poe, Guilty Pleasure; Aicelle Santos, Isang Himala; Gabby Padilla, Kono Basho; Arisa Nakano, Kono Basho; Mylene Dizon, The Hearing; Jenaica Sangher, Tumandok

Best Supporting Actor: Takehiro Hira, Crosspoint; Art Acuña, An Errand; David Ezra, Isang Himala; Nor Domingo, The Hearing; Felipe Ganancial, Tumandok

Best Supporting Actress: Kei Kurosawa, Crosspoint; Chanda Romero, Espantaho; Bituin Escalante, Isang Himala; Kakki Teodoro, Isang Himala; Ina Feleo, The Hearing; Rowena Sangher, Tumandok

Best Screenplay: JL Burgos and Bernardine De Belen, Alipato at Muog; Ricky Lee and Anj Atienza, Green Bones; Jaime Pacena II, Kono Basho; Honeylyn Joy Alipio, The Hearing; Arden Rod Condez and Arlie Sweet Sumagaysay, Tumandok

Best Cinematography: JL Burgos, Alipato at Muog; Neil Daza, Green Bones; Dan Villegas, Kono Basho; Lav Diaz, Phantosmia; Pabelle Manikan, Tumandok

Best Editing: JL Burgos, Alipato at Muog; Marya Ignacio, Kono Basho; Furan Guillermo, Rizal’s Makamisa: Pantasma ng Higanti; Lawrence Fajardo and Ysabelle Denoga, The Hearing; Pabelle Manikan, Tumandok

Best Production Design: JL Burgos, Alipato at Muog; Marxie Maolen Fadul, Green Bones; Eero Yves Francisco, Kono Basho; Lav Diaz, Phantosmia; Zeus Bascon, Rizal’s Makamisa: Pantasma ng Higanti; Lynne Belle Salvadico, Tumandok

Best Music: Len Calvo, Green Bones; Vincent De Jesus, Isang Himala; Len Calvo, Kono Basho; David Toop and Khavn with the Kontra-Kino Orchestra, Rizal’s Makamisa: Pantasma ng Higanti; Paulo Almaden and the Ati People of Kabarangkalan and Nagpana, Tumandok

Best Sound: Ronaldo de Asis, Crosspoint; Albert Michael Idioma and Emilio Bien Sparks, Isang Himala; Allen Roy Santos, Kono Basho; Jannina Mikaela Minglanilla and Michaela Docena, The Hearing; Lamberto Casas, Jr., Alexis Tomboc, and Kevin Padilla, Tumandok

T-bill yields fall as demand rises

STOCK PHOTO | Image by RJ Joquico from Unsplash

THE GOVERNMENT made a full award of the Treasury bills it auctioned off on Monday as yields dropped across all tenors, with investors looking to take advantage of still-high rates swamping the offer amid expectations of further monetary easing here and abroad.

The Bureau of the Treasury (BTr) raised P25 billion as planned from the T-bills it placed on the auction block as the offering was more than six times oversubscribed, with total bids reaching P156.428 billion. This was higher than the P125.04 billion in tenders recorded on Sept. 1.

The Auction Committee fully awarded the T-bill offer amid the strong demand and as all tenors fetched average rates that were lower than those seen at the previous auction and prevailing secondary market yields, the BTr said in a statement.

Broken down, the Treasury borrowed P8.5 billion as planned via the 91-day T-bills as total tenders for the tenor reached P37.225 billion. The three-month paper was quoted at an average rate of 5.046%, down by 8.1 basis points (bps) from the 5.173% recorded in the previous auction. Yields accepted ranged from 5% to 5.104%.

The government likewise raised P8.5 billion as programmed from the 182-day securities as tenders amounted to P63.072 billion. The average rate of the six-month T-bill was at 5.222%, falling by 10.1 bps from the 5.323% fetched last week, with accepted rates spanning from 5.185% to 5.248%.

Lastly, the Treasury sold the planned P8 billion in 364-day debt as demand for the tenor totaled P56.131 billion. The average rate of the one-year T-bill dropped by 12.7 bps to 5.376% from 5.457% previously. Tenders awarded carried rates from 5.373% to 5.383%.

At the secondary market before Monday’s auction, the 91-, 182-, and 364-day T-bills were quoted at 5.1769%, 5.3135%, and 5.4699%, respectively, based on PHP Bloomberg Valuation Service Reference Rates data provided by the Treasury.

The government fully awarded its T-bill offer as average yields continued to fall following the Bangko Sentral ng Pilipinas’ (BSP) latest rate cut and signals of one more reduction before yearend “that led more investors to lock in yields before they go down further in the coming months,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

Headline inflation also remains below the BSP’s 2-4% target despite the faster print seen in August, which could support one final reduction, he said. Inflation picked up to 1.5% last month from 0.9% in July, bringing the eight-month average to 1.7%.

The Monetary Board on Aug. 28 lowered benchmark borrowing costs by 25 bps for a third consecutive meeting, bringing the target reverse repurchase rate to 5%. It has now trimmed rates by a cumulative 150 bps since the start of its rate cut cycle in August 2024.

BSP Governor Eli M. Remolona, Jr. said that the policy rate is now at a “sweet spot” in terms of both inflation and output, but left the door open to one last cut this year to support growth if needed, which would likely mark the end of its current easing cycle.

The Monetary Board’s last two meetings this year are scheduled in October and December.

Mr. Ricafort added that expectations of monetary easing by the US Federal Reserve as early as next week following the soft jobs data released recently also helped pull T-bill yields down.

Markets are pricing in a 90% chance of a 25-bp rate cut by the Fed next week and a 10% probability of a larger 50-bp reduction, according to the CME FedWatch Tool, Reuters reported.

This comes after data on Friday showed US job growth weakened sharply in August and the unemployment rate rose to a near four-year high of 4.3%, confirming a softening labor market and bolstering the case for a rate cut this month.

T-bill rates also dropped amid the large demand seen for Monday’s offer, Mr. Ricafort said.

“Demand is noticeably higher compared to last week’s… This likely due to the 10-60 maturity tomorrow, as the resulting liquidity allows market players to buy more than usual in today’s auction, which then goes to explain the fall in yields,” a trader said in a text message, referring to the 10-year Treasury bonds (T-bonds) maturing on Tuesday.

The maturity is expected to add some P288.659 billion in liquidity to the financial system that could again be invested in government securities, Mr. Ricafort added.

On Tuesday, the government will offer P30 billion in reissued seven-year T-bonds with a remaining life of four years and 10 months.

The BTr is looking to raise P220 billion from the domestic market this month, or P100 billion via T-bills and P120 billion through T-bonds.

The government borrows from local and foreign sources to help fund its budget deficit, which is capped at P1.56 trillion or 5.5% of gross domestic product this year. — Aaron Michael C. Sy

Ariana Grande, Lady Gaga land top honors at MTV’s Video Music Awards

LL COOL J presents Ariana Grande with the Video of the Year Award at the 2025 MTV Video Music Awards on Sept. 7. — REUTERS/BRENDAN MCDERMID

NEW YORK — Pop singer Ariana Grande claimed the top prize at the MTV Video Music Awards (VMA), and Lady Gaga and Sabrina Carpenter scored major honors, at a star-studded celebration of fan favorites in New York on Sunday.

Ms. Grande won video of the year for “Brighter Days Ahead,” earning her the biggest award of the night at the fan-voted awards.

“Art has been a safe space for me since I was a kid. I’m so grateful I get to do this,” Ms. Grande said as she held the MTV Moon Person trophy on stage at the UBS Arena.

Minutes earlier, Ms. Grande took the best pop prize and thanked her father, who acted for the first time in the “Brighter Days Ahead” video. She called him “the best scene partner, and dad, in the world.”

Lady Gaga was crowned artist of the year at the start of the show, prevailing over VMA favorites Taylor Swift and Beyoncé.

Gaga, currently on tour with her album Mayhem, took the stage in a black-and-purple ruffled gown with giant sleeves.

“I cannot begin to tell you what this means to be rewarded for being an artist, being rewarded for something that is already so rewarding,” Gaga said before dashing off to perform a concert at Madison Square Garden.

Gaga’s win prevented Beyoncé or Ms. Swift from emerging as the most-honored artist in VMA history. The pair remained tied at 30 VMAs each.

Gaga also landed best collaboration for “Die with a Smile,” a duet with Bruno Mars that had been in the running for the video award that went to Ms. Grande.

Sabrina Carpenter claimed best album for Short n’ Sweet.

“I really don’t take for granted when you guys take the time out of your lives to listen to an album,” the pop singer said. “I’m just the luckiest girl in the world.”

“APT.,” a collaboration between Bruno Mars and K-pop singer Rosé, won the VMA for song of the year.

Rosé, 28 and a member of the group Blackpink, dedicated her win to her 16-year-old “oddball” self.

“This is a really big moment for 16-year-old me, and for anyone else dreaming of being accepted equally for their hard work,” she said on stage.

English singer Yungblud belted “Crazy Train” to kick off a musical tribute to late British rocker Ozzy Osbourne with Nuno Bettencourt on guitar. Aerosmith members Steven Tyler and Joe Perry joined for a rousing version of “Mama, I’m Coming Home” that had the audience waving their hands in the air.

Mariah Carey received a lifetime achievement award and talked about the fun of making music videos.

Videos are “mini movies visualizing the sheer fantasy of it all,” she said. “And sometimes it’s just an excuse to bring the drama and do things I wouldn’t do in real life.”

The VMAs began airing on MTV in 1984 and became known for memorable moments such as an onstage kiss between Madonna and Britney Spears and Gaga’s appearance in a raw meat dress. Sunday’s ceremony was broadcast live on CBS and on MTV.

In other awards, folk-pop singer Alex Warren was named best new artist. — Reuters

Peso jumps to one-month high as dollar struggles after weak jobs data

BW FILE PHOTO

THE PESO jumped to an over one-month high against the dollar on Monday as weak US jobs data boosted hopes of a rate cut by the US Federal Reserve next week.

The local unit closed at P56.69 per dollar, strengthening by 22.5 centavos from its P56.915 finish on Friday, Bankers Association of the Philippines data showed.

This was the peso’s best finish in more than a month or since it ended at P56.65 on July 24.

The peso opened Monday’s session stronger at P56.777 versus the dollar. Its intraday best was at P56.67, while its worst showing was at P56.93 against the greenback.

Dollars exchanged went down to $1.32 billion on Monday from $1.62 billion on Friday.

“The dollar-peso closed lower as the market responded to the weak US NFP (nonfarm payrolls) release last Friday, which bolstered expectations that the Fed will cut rates this month,” a trader said in a phone interview.

The dollar was generally weaker on Monday following the decline in global crude oil prices and US Treasury yields, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort added in a Viber message.

For Tuesday, the trader sees the peso moving between P56.50 and P56.90 per dollar, while Mr. Ricafort expects it to range from P56.55 to P56.80.

The dollar remained on shaky ground on Monday after Friday’s weak US jobs report, which cemented expectations of a Federal Reserve rate cut this month, Reuters reported.

The dollar struggled to recoup its heavy losses after falling sharply on Friday on data that showed further cracks in the US labor market.

The nonfarm payrolls report showed US job growth weakened sharply in August and the unemployment rate increased to nearly a four-year high of 4.3%.

Investors ramped up bets of an outsized 50-basis-point rate cut from the Fed later this month following the release and are now pricing in a 10% chance of such a move, as compared to none a week ago, according to the CME FedWatch tool.

The dollar index edged down 0.2% to 97.7, having tumbled more than 0.5% on Friday.

“(The payrolls report) has resulted in the dollar index falling back below support at the 98.000-level although the negative impact on the US dollar is more modest than implied by the drop in short-term US yields,” MUFG currency strategist Lee Hardman said in a note.

“The weak nonfarm payrolls report for August has reinforced expectations that the Fed will resume cutting rates this month, and has even encouraged expectations that they could begin with a larger 50-bp rate cut similar to last September.” — A.M.C. Sy with Reuters

Entertainment News (09/09/25)

Ayala Malls shows Asian films

AYALA MALLS CINEMAS is turning the spotlight on Asian filmmaking with “A-Reel Asia: Stories from the Heart of the East,” a new platform for Asian cinema starting this September. It will showcase titles from Indonesia, India, South Korea, Japan, and China. First in the lineup is director Hanung Bramantyo’s Traditional Kamasutra Teacher, a tale of love, betrayal, and power from Indonesia. It stars Raihaanun as Ratri, a young woman who was raised by a respected gowok, or a woman who teaches young men about household and sexuality before marriage. It will be shown in the following Ayala Malls Cinemas: Manila Bay, Circuit, Glorietta, Feliz, Solenad, Central Bloc, Centrio, TriNoma, and Fairview Terraces.

Sponge Cola to perform live in Abu Dhabi

OPM BAND Sponge Cola will be in Abu Dhabi on Sept. 13 to belt out their rock anthems at The Hall Al Qana, Abu Dhabi, United Arab Emirates. The band, known for their emotionally resonant music, will be performing the best hits of their discography. It will be their third time to have a concert in Abu Dhabi, the last one was over 10 years ago. Tickets are available via Ticketmaster.

Downton Abbey movie finale to arrive in cinemas

THE global phenomenon Downton Abbey will have a cinematic end following years of TV shows and films. Creator Julian Fellowes is back at the helm as the Crawley family and their staff navigate the 1930s with all its modernity, public scandal, and social disgrace. The ensemble cast will return to the big screen, including Hugh Bonneville, Laura Carmichael, Jim Carter, Michelle Dockery, and Paul Giamatti. Downton Abbey: The Grand Finale opens exclusively in Ayala Malls Cinemas starting Sept. 10.

Ayala Malls, G-Force turn malls into dance halls

THIS SEPTEMBER, Ayala Malls and dance authority G-Force are teaming up to bring mallgoers “The Dance District,” which turns everyday mall spaces into dance playgrounds. Dance lovers can come and groove with G-Force on: Sept. 9, 6 p.m., at One Ayala’s Level 2, Panco Cafe (the Ayala Malls x G Force Kick Off); Sept. 11, 6 p.m., at the Activity Center of TriNoma, featuring Jaja’s Blue Battalion; Sept. 16, 6 p.m., at the Amphitheatre of the UP Town Center, with K-Pop Random Play Like; Sept. 17, 6 p.m., at the Activity Center of Alabang Town Center with South Move Mania; Sept. 18, 6 p.m., at the Garden Ring of Ayala Malls Manila Bay with Fusion Fest; and on Sept. 19, 6 p.m., at The Deck at Circuit Lane at Ayala Malls Circuit: with Mixed Synergy. Beyond the free G-Force dance sessions, mallgoers are invited to join The Dance District Challenge. They can share their best dance moments from The Dance District on TikTok and Instagram using the official sticker template and dedicated hashtag #ThatFeelingWhenTheMallIsYourDanceFloor for a chance to get surprise treats. The Dance District will culminate in a G-Force Groove Gala at the Courtyard, Ayala Triangle Gardens, on Oct. 5. For more information, visit www.ayalamalls.com or follow Ayala Malls on social media.

Vatican City concert to stream on Disney+

ON SEPT. 14, a cultural and spiritual event in Vatican City will stream live exclusively on Disney+. Co-directed by singers Pharrell Williams and Andrea Bocelli, it will be held in St. Peter’s Square to mark the closing of the third World Meeting on Human Fraternity and the celebration of the 2025 Jubilee Year. The concert features a huge lineup of performers, including Mr. Williams, Mr. Bocelli, the Voices of Fire Gospel Choir, Karol G, John Legend, Clipse, Teddy Swims, Jelly Roll, and Angélique Kidjo. There will also be an aerial drone and light show by Nova Sky Stories, featuring imagery inspired by the Sistine Chapel, and reflections from world leaders in culture, diplomacy, and sport.

GMA to show FPJ movies this month

THE program “FPJ sa GMA” will be highlighting the movies of Fernando Poe, Jr. (FPJ) every Sunday at 3:15 p.m. on GMA. To be shown on Sept. 14 is the action-filled Kapag Buhay ang Inutang (1983), which features FPJ with another Filipino icon, Eddie Garcia. On Sept. 21, Patayin si Mediavillo (1978) will be shown, where FPJ plays a police officer pursued by multiple assassins. Finally, on Sept. 28, Mabuting Kaibigan, Masamang Kaaway (1991) will present FPJ and Vic Vargas joining forces as two men who end their close friendship following a betrayal.

Freestyle, Neocolours to share the stage at Newport

THE 1990s OPM band Freestyle is performing live at Newport World Resorts this September in a concert titled It’s About Time Freestyle, set for Sept. 19, 8 p.m., at the Newport Performing Arts Theater in Pasay City. Joining them is special guest Neocolours, another nostalgic OPM vocal group, providing an ’80s flavor to the show. Tickets, priced from P1,000 to P6,300, are available via TicketWorld.

Fil-Norwegian R&B star HILLARI performs in Manila

SINGER-SONGWRITER HILLARI, born in Norway with Filipino roots, is set to headline her first solo show in the Philippines on Sept. 21 at the Sari-Sari bar in Makati City. The rising R&B performer will be performing an intimate set on the strength of her recently released seven-track EP, New Beginnings. The show is considered her official homecoming. It will be the debut live performance of her upcoming single “I’m Still,” a laid-back, soul-infused track. Tickets, costing P800, are available exclusively at https://hillariliveinmanila.helixpay.ph.

TBA gives student, teacher ticket prices for Quezon

STUDENTS and teachers can watch the much-awaited historical biopic Quezon at a special price when the film begins its Philippine theatrical run on Oct. 15. TBA Studios has officially announced the discounted price of P250, which can be availed by presenting a valid school ID at cinema ticket counters. Directed by Jerrold Tarog, Quezon is the conclusion to the “Bayaniverse” trilogy, a series of films based on Philippine history.

SEC clears RCR’s P30.67-B mall infusion from Robinsons Land

Robinsons Magnolia — ROBINSONSLAND.COM

By Alexandria Grace C. Magno

RL COMMERCIAL REIT, Inc. (RCR), the listed real estate investment trust (REIT) of Robinsons Land Corp. (RLC), said it has received approval from the Securities and Exchange Commission (SEC) for its P30.67-billion property-for-share swap with its sponsor.

“Today, Sept. 5, 2025, RCR received the certificate of approval of valuation dated on the same date from the SEC for the property-for-share swap certifying that the valuation of the properties in the total amount of P30,674,860,000 be applied as payment for the additional issuance of 3,834,357,500 common shares of RCR,” the listed company said in a disclosure on Monday.

With the approval and the issuance of the new shares, RCR will have 19.55 billion common shares issued and outstanding.

The company said public ownership will stand at 34.22% of the enlarged total shares, above the one-third minimum public ownership required under the Real Estate Investment Trust Implementing Rules and Regulations.

RCR said it will file the relevant disclosures once the 3.83 billion new shares are issued and booked under the name of RLC, one of the country’s largest property developers.

On Aug. 13, RCR executed its fourth property-for-share swap with RLC through the signing of a deed of assignment for the infusion of nine mall assets. These are Robinsons Dasmariñas in Cavite, Robinsons Starmills in Pampanga, Robinsons General Trias in Cavite, Robinsons Cybergate Cebu, Robinsons Tacloban in Leyte, Robinsons Malolos in Bulacan, Robinsons Santiago in Isabela, Robinsons Magnolia in Quezon City, and Robinsons Tuguegarao in Cagayan.

Asian Appraisal Co., Inc. prepared the appraisal reports, while FTI Consulting Philippines, Inc. issued a third-party fairness opinion supporting the valuation.

The transaction has been cleared by the board of directors and stockholders of RCR, the board of RL Fund Management, Inc., the fund manager of RCR, and the REIT’s Related Party Transactions Committee.

China Bank Capital Corp. Managing Director Juan Paolo E. Colet said the infusion of nine malls into RCR’s property portfolio will further broaden its range of assets and enhance its standing among the country’s leading REITs.

“The mall assets are seen as attractive given favorable consumer trends. Moreover, they provide a healthy balance to RCR’s office properties, so the infusion will result in a better risk profile for the REIT’s shareholders,” he said in a Viber message.

“The valuation is fair, and we expect the deal to be dividend-accretive,” he added.

Meanwhile, AP Securities, Inc. Research Head Alfred Benjamin R. Garcia said incorporating retail assets into RCR’s property portfolio will mitigate risk, as retail properties are currently outperforming office spaces.

“Retail assets have more room for upward lease rate adjustments compared to office spaces, so diversification into retail should ensure lease income growth for RCR,” he said in a separate Viber message.

The infusion will expand RCR’s current portfolio, which comprises 828,000 square meters (sq.m.) of gross leasable area (GLA), consisting of 12 malls with 289,000 sq.m. of GLA and 17 office properties with 539,000 sq.m. of GLA.

On Monday, RCR shares gained 0.88% to close at P8.05 each, while RLC shares rose 0.27% to P14.96 apiece.

Pru Life UK books P4.94 billion in new business premiums in first half

PRU LIFE Insurance Corp. of UK Philippines (Pru Life UK) booked a new business annual premium equivalent (NBAPE) of P4.94 billion in the first semester.

It said it was the top life insurer in terms of NBAPE in the period.

“Our 2025 half-year achievement affirms the strength of our purpose — to be the most trusted partner and protector for every life and every future — for over a million Filipinos. We are deeply grateful to our customers for their continued trust and to our agency force, the largest in the country, whose dedication drives our market leadership,” Pru Life UK Chief Finance Officer Francis P. Ortega said in a statement.

The insurer said its premium growth was supported by the continued expansion of its product line after it recently rolled out life policies with guaranteed payouts and a plan compliant with Islamic laws called PRUTerm Lindungi.

The company was one of two insurers to receive a Takaful window license from the Insurance Commission (IC). Takaful insurance needs to be compliant with Shari’ah law, which prohibits riba (interest), al-maisir (gambling), and al-gharar (uncertainty) principles.

The life insurer added that its agency force of nearly 38,000 also supported its growth.

Pru Life UK booked a premium income of P48.15 billion and a net income of P3.72 billion in 2024, IC data showed. — A.M.C. Sy

The future won’t wait: Building the Filipino workforce for the AI Age

PHILIPPINE STAR/MIGUEL DE GUZMAN

Our neighbor Singapore recently celebrated the Diamond Jubilee of its independence, nicknamed “SG60.” When Prime Minister Lawrence Wong addressed the nation at the “SG60 and Beyond” dialogue and the 2025 National Day Rally, many listened closely to his vision for Singapore’s future. His message was clear and urgent: “AI will be the defining technology of our time.” He underscored AI’s transformative power as the next great technological revolution, rivaling the personal computer and the Internet. It was both a warning and an opportunity — countries cannot afford to stand still on AI, and leaders must think carefully about how to apply it to uplift jobs and people.

Technology and AI took center stage, occupying nearly 30 minutes of his 90-minute address, alongside other critical topics, like the economy, regional security, territory, and healthcare for Singapore’s aging population. But what stood out was that his remarks were not just about technology — they were about people. His vision placed Singaporeans at the heart of the AI transition: a government coordinating employers, schools, and communities to prepare its workforce for the opportunities and disruptions ahead. As he emphasized, while many jobs will evolve or disappear, new ones will also emerge, and Singapore intends to equip every citizen with the tools to thrive.

I then thought, where is the Philippines in the race to AI? We stand at a pivotal moment where our demographic strengths, economic ambitions, and technological gaps converge. With one of the youngest and most resilient workforces in the region, we have a tremendous opportunity to lead. But to fully realize this potential, we need a more unified approach to AI education, reskilling, and workforce integration — so we can keep pace with neighbors rapidly advancing in this space.

To be fair, the Philippine government has begun laying the groundwork. The Department of Science and Technology launched the National AI Strategy (NAIS-PH), a framework through 2028 focused on research, innovation, and workforce development. In July 2024, the Department of Trade and Industry introduced the National AI Strategy Roadmap 2.0 (NAISR 2.0) to drive education reform, worker reskilling, and AI-powered industries. Meanwhile, the Philippine Skills Framework for Analytics and AI (PSF-AAI), led by the Department of Information and Communications Technology and the Analytics and AI Association of the Philippines, provides structured guidelines on AI competencies for schools, professionals, and employers.

These are significant initiatives, but they remain fragmented. To maximize their impact, we need a fully integrated and nationally coordinated execution plan — one that brings together government agencies, private sector leaders, educators, and local communities to prepare the Filipino workforce for the future of work. Without stronger alignment and faster implementation, we risk missing opportunities while other nations move quickly to harness the benefits of AI and emerging technologies.

The need for urgency is highlighted by the IMD World Competitiveness Yearbook 2025, which ranked the Philippines 51st among 69 economies, a modest improvement from the previous year. The bright spot, however, was in employment competitiveness, where we climbed from 10th place in 2024 to 7th globally in 2025. This shows that Filipino workers are among the world’s most resilient and adaptable. But resilience alone is not enough. Without an aggressive, unified strategy to upskill and reskill millions, we risk failing to convert potential into productivity.

A national AI strategy must go beyond slogans and administration timelines — it must become a mission to bring technology into every sector of the economy. AI integration cannot be confined to elite industries or large corporations; it must extend to agriculture, education, manufacturing, healthcare, and micro, small, and medium enterprises (MSMEs), which make up 99% of Philippine businesses. Affordable AI tools, training subsidies, and shared digital infrastructure should be made widely accessible so that innovation scales broadly, rather than being concentrated in a privileged few.

Equally critical is reskilling the workforce. Singapore has shown that job redesign can empower workers, instead of displacing them, but this requires foresight and investment. The Philippines needs government-backed partnerships with the Education and Labor departments, with the Technical Education and Skills Development Authority (better known as TESDA), the Commission on Higher Education, and industry groups to deliver nationwide AI training programs — from micro-credentials for entry-level workers to advanced certifications for professionals. Barangay-level employment hubs and public-private traineeship programs could bridge the gap between education and employment, ensuring that Filipinos gain not only theoretical knowledge but practical, market-ready skills.

At the same time, policies must support lifelong learning. AI evolves too quickly for one-time degrees or short courses to suffice. Continuous access to upskilling pathways, aligned with industry demands, must become a national priority, supported by collaboration among government agencies, educational institutions, and the private sector.

Finally, a truly effective strategy must be anchored on trust and inclusion. Singapore is embracing a “we-first” approach, where society shares responsibility for ensuring no citizen is left behind. In the Philippines, we have our own bayanihan* spirit. Harnessing it means involving workers, educators, businesses, and communities in shaping the future, not simply imposing solutions from the top. AI is not just a technological shift — it is a social transition.

The Philippines has a remarkable opportunity, but time is running out. We have one of the youngest, most dynamic labor forces in the region and a proven ability to adapt. Yet without deliberate action, we risk watching other economies — Indonesia, Vietnam, Malaysia, and Singapore — outpace us in innovation and productivity.

AI is reshaping the global economy, whether we are ready or not. To compete, we need more than frameworks; we need execution. We need leadership that treats workforce development not as a policy footnote but as a national imperative.

The Filipino workforce is ready. Our people are ready.

* communal unity

This article reflects the personal opinion of the author and not the official stand of the Management Association of the Philippines.

 

Ira Paulo Pozon is the chair of the MAP Ease of Doing Business Committee. He is the government relations director of Salmon. He was the chief of staff and OIC director for the Better Regulations Office of ARTA. He is a senior partner of Pozon Recto Peteache and Laiz.

map@map.org.ph

irapaulopozon@gmail.com

Toronto Film Festival: Angelina Jolie reflects on family cancer history before Couture premiere

Angelina Jolie and Louis Garrel in a scene from Couture.

TORONTO — Academy Award winner Angelina Jolie had a strong message about hope and living her best life as she reflected on her family’s history of cancer before the world premiere of Couture on Sunday.

The Salt and Mr. & Mrs. Smith actor was at the Toronto International Film Festival promoting her film Couture, the story of an American film director navigating the Parisian fashion industry while she is given a serious medical diagnosis and is in the midst of a divorce.

“I’m 50 now. My mother and grandmother by this age were in chemo,” Ms. Jolie said, walking down the red carpet with her co-stars.

“We all have these things we worry about or people we love. And it’s either going to make us slow down and almost feel we can’t move, take a step, or we’re going to make the most of this life before it’s over.”

Ms. Jolie underwent a preventive double mastectomy in 2013 after learning she had inherited a high risk of breast cancer and said she hoped her story would inspire other women fighting the life-threatening disease.

She went through with the operation in part to reassure her six children that she would not die young from cancer, as her own mother did at age 56.

“She has a personal connection to the subject of illness and what that does to a body and being confronted to that. And I believe she talks the best about that,” co-star Ella Rumpf said. — Reuters

SM Prime eyes US dollar bond issue as REIT IPO deferred

PHILSTAR FILE PHOTO

SM PRIME HOLDINGS, INC. (SMPH) said it has mandated a group of global and domestic banks to arrange fixed-income investor meetings ahead of a possible issuance of US dollar-denominated senior notes.

In a disclosure to the stock exchange, SMPH said it has tapped HSBC, JP Morgan, Standard Chartered Bank, and UBS as joint lead managers and joint bookrunners, along with BDO Capital & Investment Corp. and China Bank Capital Corp. as joint domestic managers, to organize a series of investor calls in Asia and Europe starting Sept. 8.

“A USD-denominated benchmark-sized Regulation S offering of 5-year senior notes by SMPHI SG Holdings Pte. Ltd. guaranteed by SMPH may follow, subject to market conditions,” the company said.

The notes are expected to be issued under the Singapore-based subsidiary’s $3-billion Euro Medium Term Note (EMTN) program.

SMPH said its legal advisers are SyCip Salazar Hernandez & Gatmaitan for Philippine law and Latham & Watkins LLP for English law.

The joint lead managers and bookrunners are being advised by Picazo Buyco Tan Fider Santos & Dee for Philippine law and Linklaters Singapore Pte. Ltd. for English law.

The planned notes offering comes after SM Prime deferred the initial public offering (IPO) of its planned real estate investment trust (REIT) to beyond 2026, citing unfavorable market conditions.

“Instead of coming up with a REIT in 2026, we may have to defer it a bit and we have to take into account market conditions as well as liquidity in the market,” SM Prime Chief Finance Officer John Nai Peng C. Ong said during a Philippine Stock Exchange investor event in August.

“While the view on REIT is still there, the timing may have to be deferred beyond the year 2025 and I think personally even beyond 2026,” he added.

SM Prime is pursuing an extensive expansion pipeline, which includes the opening of a new mall in Xiamen, China next month and another in Fujian province by 2027.

Locally, the company has allotted more than P150 billion for 16 major redevelopments and 12 new lifestyle malls from 2026 to 2030, with plans to open one landmark flagship mall each year.

On Monday, SM Prime shares rose by 0.87% or 20 centavos to close at P23.20 apiece. — B.M.D. Cruz

Manulife, MCBL launch new plan with investment fund options

THE MANUFACTURERS Life Insurance Co. (Phils.), Inc. (Manulife Philippines) and Manulife China Bank Life Assurance Corp. (MCBL) have launched a new unit-linked plan that offers life insurance coverage along with various investment options.

Manulife GoalReady is a peso-denominated variable unit-linked (VUL) insurance product that has various payment and investment fund options. It is now available via Manulife Philippines’ financial advisors and MCBL’s financial sales associates in branches of China Banking Corp. (Chinabank) and China Bank Savings, Inc. nationwide.

“Our new Manulife GoalReady plan empowers customers in the Philippines to take control of their financial future — by making their money work harder through smart diversification and consistent investing. Amid global economic and sociopolitical shifts, our Filipino customers can navigate financial uncertainties with a plan that can help them secure their future while maximizing investment potential,” Manulife Philippines President and Chief Executive Officer Rahul Hora said in a statement on Monday.

The new product was developed based on findings from the Manulife Asia Care Survey, the company said. “The survey uncovered a significant gap between the future well-being they aspire to and what they realistically expect to attain — especially in the areas of financial security, physical health, and mental wellness.”

Manulife GoalReady offers life insurance coverage until age 99.

For the plan’s investment options, policyholders may choose from global and local funds depending on their goals and risk profiles. These include Global Multi-Asset Income Fund for income generation and Global Market Leaders Fund for growth and protection, which are both managed by Manulife Investment Management and Trust Corp.

The policy also offers clients a 1.75% loyalty bonus on their fund value from years six to 10 of their plan, with continued bonuses from the 11th year onwards.

Manulife GoalReady offers two payment options: regular pay with a minimum premium of P24,000 annually or P2,000 monthly, and five-pay, which has a minimum premium of P60,000 annually or P5,000 monthly.

Customers can choose from optional health and protection riders, the insurer added. The Manulife GoalReady calculator also allows clients to estimate how much they need to save based on their specific financial goal, budget, saving horizon, or income protection needs.

Manulife Philippines and Chinabank this year renewed their bancassurance agreement via MCBL that began in 2007 for another 15 years.

Manulife Philippines’ premium income stood at P15.83 billion last year, while its net income was at P2.78 billion.

Meanwhile, MCBL booked a premium income of P10.35 billion in 2024, latest data from the Insurance Commission showed. Its net income stood at P1.39 billion last year. — Aaron Michael C. Sy

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